# EDGAR Filing Document

**Accession Number:** 0001485894
**File Stem:** 0002071691-26-001783
**Filing Date:** 2026-1
**Character Count:** 425635
**Document Hash:** da0dc14e2f3a2ab853618ec91b39d1af
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-001783.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0002071691-26-001783

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** J.P. Morgan Exchange-Traded Fund Trust
- **CENTRAL INDEX KEY:** 0001485894

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22903
- **FILM NUMBER:** 26571298

**BUSINESS ADDRESS:**
- **STREET 1:** 390 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** (800) 480-4111

**MAIL ADDRESS:**
- **STREET 1:** 390 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

## Series and Classes Contracts Data

### JPMorgan Limited Duration Bond ETF (Series ID: S000079814)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000241197 | JPMorgan Limited Duration Bond ETF | JPLD            |

## Nport-Ex

**JPMorgan Limited Duration Bond ETF**

**Schedule of Portfolio Investments as of November 30, 2025**

**(Unaudited)** 

---

| |
|:---|
| &nbsp;&nbsp; THE "UNAUDITED EXCHANGE-TRADED FUNDS HOLDINGS" <br> LIST ("the List") IS TO BE USED FOR REPORTING PURPOSES <br> ONLY. IT IS NOT TO BE REPRODUCED FOR USE AS <br> ADVERTISING OR SALES LITERATURE WITH THE GENERAL <br> PUBLIC. The list is submitted for the general information of the <br> shareholders of the Fund. It is not authorized for distribution to <br> prospective investors in the Fund unless preceded or accompanied by a <br> prospectus. The list has been created from the books and records of <br> the Fund. Holdings are available 60 days after the fund's fiscal quarter, <br> using a trade date accounting convention, by contacting the appropriate <br> service center. The list is subject to change without notice. The list is <br> for informational purposes only and is not intended as an offer or <br> solicitation with respect to the purchase or sale of any security.<br>|
| &nbsp;&nbsp; JPMorgan Asset Management is the marketing name for the asset <br> management business of J.P. Morgan Chase & Co.<br>|
| J.P. Morgan Distribution Services, Inc., member FINRA. |
|© J.P. Morgan Chase & Co., 2025. |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL** <br>**AMOUNT($)**<br>| **VALUE($)** |
| **Asset-Backed Securities — 45.2%** | **Asset-Backed Securities — 45.2%** | **Asset-Backed Securities — 45.2%** |
| &nbsp;&nbsp;&nbsp; Affirm Asset Securitization Trust Series 2024-X2, Class A, 5.22%, 12/17/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 111282 | &nbsp;&nbsp;&nbsp;&nbsp; 111344 |
| &nbsp;&nbsp;&nbsp; American Credit Acceptance Receivables Trust Series 2025-3, Class C, 4.95%, 7/12/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 16665000 | &nbsp;&nbsp;&nbsp;&nbsp; 16747738 |
| &nbsp;&nbsp;&nbsp; Amortizing Residential Collateral Trust Series 2002-BC9, Class M1, 5.72%, 12/25/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 953695 | &nbsp;&nbsp;&nbsp;&nbsp; 924172 |
| &nbsp;&nbsp;&nbsp; AMSR Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR1, Class B, 2.15%, 6/17/2038 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1285000 | &nbsp;&nbsp;&nbsp;&nbsp; 1209702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR2, Class A, 1.53%, 8/17/2038 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3984244 | &nbsp;&nbsp;&nbsp;&nbsp; 3903054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR1, Class A, 4.29%, 7/17/2041 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 7810000 | &nbsp;&nbsp;&nbsp;&nbsp; 7790841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR2, Class B, 4.15%, 11/17/2041 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 14000000 | &nbsp;&nbsp;&nbsp;&nbsp; 13731015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR1, Class A, 3.66%, 6/17/2042 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2025000 | &nbsp;&nbsp;&nbsp;&nbsp; 1960953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR2, Class A, 4.28%, 11/17/2042 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8035000 | &nbsp;&nbsp;&nbsp;&nbsp; 7964622 |
| &nbsp;&nbsp;&nbsp; Ansley Park Capital LLC Series 2025-A, Class A2, 4.43%, 4/20/2035 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 12000000 | &nbsp;&nbsp;&nbsp;&nbsp; 12020088 |
| &nbsp;&nbsp;&nbsp; Apidos CLO (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-31A, Class A1R, 5.27%, 4/15/2031 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2061097 | &nbsp;&nbsp;&nbsp;&nbsp; 2061792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-25A, Class A1R3, 5.02%, 1/20/2037 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3355000 | &nbsp;&nbsp;&nbsp;&nbsp; 3345472 |
| &nbsp;&nbsp;&nbsp; Aqua Finance Issuer Trust Series 2025-A, Class A, 5.25%, 12/19/2050 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5089370 | &nbsp;&nbsp;&nbsp;&nbsp; 5190567 |
| &nbsp;&nbsp;&nbsp; Auxilior Term Funding LLC Series 2023-1A, Class A2, 6.18%, 12/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 241761 | &nbsp;&nbsp;&nbsp;&nbsp; 243061 |
| &nbsp;&nbsp;&nbsp; Avis Budget Rental Car Funding AESOP LLC Series 2025-3A, Class A, 4.17%, 2/20/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10002806 |
| &nbsp;&nbsp;&nbsp; Bain Capital Credit CLO Ltd. (Cayman Islands) Series 2025-4A, Class A1, 5.10%, 1/17/2039 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9991410 |
| &nbsp;&nbsp;&nbsp; Ballyrock CLO Ltd. (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2A, Class A1R, 5.16%, 10/20/2031 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1657543 | &nbsp;&nbsp;&nbsp;&nbsp; 1657736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1A, Class A1R, 5.20%, 7/15/2032 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4521161 | &nbsp;&nbsp;&nbsp;&nbsp; 4521536 |
| &nbsp;&nbsp;&nbsp; Bear Stearns Asset-Backed Securities I Trust Series 2005-HE1, Class M2, 5.31%, 1/25/2035 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 196671 | &nbsp;&nbsp;&nbsp;&nbsp; 206878 |
| &nbsp;&nbsp;&nbsp; Bear Stearns Asset-Backed Securities Trust Series 2003-SD1, Class A, 4.97%, 12/25/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 368806 | &nbsp;&nbsp;&nbsp;&nbsp; 385455 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO Ltd. (Cayman Islands) Series 2018-14A, Class AR, 5.25%, 10/20/2037 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5008065 |
| &nbsp;&nbsp;&nbsp; BRE Grand Islander Timeshare Issuer LLC Series 2019-A, Class A, 3.28%, 9/26/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 509919 | &nbsp;&nbsp;&nbsp;&nbsp; 505886 |
| &nbsp;&nbsp;&nbsp; Bridge Trust Series 2025-SFR1, Class A, 4.05%, 9/17/2042 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8530000 | &nbsp;&nbsp;&nbsp;&nbsp; 8255690 |
| &nbsp;&nbsp;&nbsp; Bridgecrest Lending Auto Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class C, 5.15%, 12/17/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8057502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3, Class C, 4.81%, 5/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 5600000 | &nbsp;&nbsp;&nbsp;&nbsp; 5633015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4, Class C, 4.80%, 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 6210000 | &nbsp;&nbsp;&nbsp;&nbsp; 6228239 |
| &nbsp;&nbsp;&nbsp; BSPRT Issuer Ltd. Series 2022-FL8, Class A, 5.64%, 2/15/2037 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 895771 | &nbsp;&nbsp;&nbsp;&nbsp; 896164 |
| &nbsp;&nbsp;&nbsp; Business Jet Securities LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A, Class A, 4.46%, 6/15/2037 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4719457 | &nbsp;&nbsp;&nbsp;&nbsp; 4689581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A, 6.20%, 5/15/2039 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3312371 | &nbsp;&nbsp;&nbsp;&nbsp; 3384373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class A, 5.36%, 9/15/2039 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5056942 | &nbsp;&nbsp;&nbsp;&nbsp; 5105878 |
| &nbsp;&nbsp;&nbsp; BXG Receivables Note Trust Series 2020-A, Class B, 2.49%, 2/28/2036 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2823079 | &nbsp;&nbsp;&nbsp;&nbsp; 2741783 |
| &nbsp;&nbsp;&nbsp; Carlyle US CLO Ltd. (Cayman Islands) Series 2021-1A, Class A1BR, 5.50%, 1/15/2040 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5004385 |
| &nbsp;&nbsp;&nbsp; Carmax Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class A3, 4.84%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3235000 | &nbsp;&nbsp;&nbsp;&nbsp; 3276872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3, Class B, 4.68%, 3/17/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8102882 |
| &nbsp;&nbsp;&nbsp; Carmax Select Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B, Class A2, 4.19%, 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 13000000 | &nbsp;&nbsp;&nbsp;&nbsp; 13006154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B, Class B, 4.35%, 7/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4009737 |
| &nbsp;&nbsp;&nbsp; CARS-DB5 LP Series 2021-1A, Class A1, 1.44%, 8/15/2051 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2259361 | &nbsp;&nbsp;&nbsp;&nbsp; 2202946 |
| &nbsp;&nbsp;&nbsp; Carvana Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-N4, Class A, 6.42%, 1/10/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 331352 | &nbsp;&nbsp;&nbsp;&nbsp; 331839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-P2, Class A3, 5.33%, 7/10/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2138709 | &nbsp;&nbsp;&nbsp;&nbsp; 2154090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-N1, Class D, 6.69%, 7/10/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10237931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-P3, Class A3, 4.26%, 10/10/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5005941 |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-P4, Class A3, 4.64%, 1/10/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1835000 | &nbsp;&nbsp;&nbsp;&nbsp; 1844435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-P3, Class A4, 4.31%, 9/10/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4350000 | &nbsp;&nbsp;&nbsp;&nbsp; 4378670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-P3, Class A3, 4.04%, 11/11/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 24000000 | &nbsp;&nbsp;&nbsp;&nbsp; 23994982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-P3, Class B, 4.48%, 10/10/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 12000000 | &nbsp;&nbsp;&nbsp;&nbsp; 12024509 |
| &nbsp;&nbsp;&nbsp; CCG Receivables Trust Series 2023-2, Class B, 6.21%, 4/14/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5061000 | &nbsp;&nbsp;&nbsp;&nbsp; 5193029 |
| &nbsp;&nbsp;&nbsp; Centex Home Equity Loan Trust Series 2002-A, Class MV1, 4.92%, 1/25/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 68034 | &nbsp;&nbsp;&nbsp;&nbsp; 74715 |
| &nbsp;&nbsp;&nbsp; CF Hippolyta Issuer LLC Series 2020-1, Class A1, 1.69%, 7/15/2060 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2285838 | &nbsp;&nbsp;&nbsp;&nbsp; 1951347 |
| &nbsp;&nbsp;&nbsp; Clarus Capital Funding LLC Series 2024-1A, Class A2, 4.71%, 8/20/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1398433 | &nbsp;&nbsp;&nbsp;&nbsp; 1402787 |
| &nbsp;&nbsp;&nbsp; CNH Equipment Trust Series 2024-C, Class A4, 4.12%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 3585000 | &nbsp;&nbsp;&nbsp;&nbsp; 3615227 |
| &nbsp;&nbsp;&nbsp; Consumer Portfolio Services Auto Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A, Class A, 4.77%, 10/16/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1664686 | &nbsp;&nbsp;&nbsp;&nbsp; 1667583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B, Class A, 4.74%, 2/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4021765 | &nbsp;&nbsp;&nbsp;&nbsp; 4030938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-D, Class A, 4.46%, 7/16/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 7057346 | &nbsp;&nbsp;&nbsp;&nbsp; 7060368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-D, Class B, 4.48%, 4/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4002588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-D, Class C, 4.85%, 2/17/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4009172 |
| &nbsp;&nbsp;&nbsp; CoreVest American Finance Trust Series 2020-2, Class A, 3.38%, 5/15/2052 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 25599 | &nbsp;&nbsp;&nbsp;&nbsp; 25527 |
| &nbsp;&nbsp;&nbsp; Countrywide Asset-Backed Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-BC2, Class 2A1, 4.67%, 6/25/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 55970 | &nbsp;&nbsp;&nbsp;&nbsp; 55982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-S1, Class M2, 5.58%, 2/25/2035 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 7786 | &nbsp;&nbsp;&nbsp;&nbsp; 7797 |
| &nbsp;&nbsp;&nbsp; CPS Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-D, Class A, 4.91%, 6/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 397189 | &nbsp;&nbsp;&nbsp;&nbsp; 397641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-C, Class C, 4.91%, 10/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 9480000 | &nbsp;&nbsp;&nbsp;&nbsp; 9546533 |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Auto Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3A, Class A, 6.39%, 8/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1612817 | &nbsp;&nbsp;&nbsp;&nbsp; 1621797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A, Class A, 4.68%, 9/15/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 11845000 | &nbsp;&nbsp;&nbsp;&nbsp; 11905331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A, 5.02%, 3/15/2035 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5745000 | &nbsp;&nbsp;&nbsp;&nbsp; 5811437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A, 4.50%, 11/15/2035 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; 15040635 |
| &nbsp;&nbsp;&nbsp; Crossroads Asset Trust Series 2025-A, Class A2, 4.91%, 2/20/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2005000 | &nbsp;&nbsp;&nbsp;&nbsp; 2016989 |
| &nbsp;&nbsp;&nbsp; DailyPay Securitization Trust Series 2025-1A, Class A, 5.63%, 6/26/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5540558 |
| &nbsp;&nbsp;&nbsp; DLLAA LLC Series 2025-1A, Class A2, 4.70%, 10/20/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2438060 | &nbsp;&nbsp;&nbsp;&nbsp; 2445448 |
| &nbsp;&nbsp;&nbsp; DLLAD LLC Series 2025-1A, Class A3, 4.42%, 9/20/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3615000 | &nbsp;&nbsp;&nbsp;&nbsp; 3655056 |
| &nbsp;&nbsp;&nbsp; Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2, Class A3, 4.50%, 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3460000 | &nbsp;&nbsp;&nbsp;&nbsp; 3464791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class A3, 4.14%, 9/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10009391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class B, 4.14%, 9/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 17500000 | &nbsp;&nbsp;&nbsp;&nbsp; 17473816 |
| &nbsp;&nbsp;&nbsp; Dryden CLO Ltd. (Cayman Islands) Series 2020-86A, Class A1R2, 5.01%, 7/17/2034 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; 15011820 |
| &nbsp;&nbsp;&nbsp; Dryden Senior Loan Fund (Cayman Islands) Series 2016-43A, Class AR3, 4.95%, 4/20/2034 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4993410 |
| &nbsp;&nbsp;&nbsp; DT Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4A, Class E, 3.34%, 7/17/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 9115000 | &nbsp;&nbsp;&nbsp;&nbsp; 9021618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A, Class D, 6.44%, 11/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2536872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A, Class E, 5.53%, 3/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5992043 |
| &nbsp;&nbsp;&nbsp; Elara Hgv Timeshare Issuer LLC Series 2025-A, Class A, 4.54%, 1/25/2040 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 12615560 | &nbsp;&nbsp;&nbsp;&nbsp; 12639871 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO Ltd. (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class AR, 5.43%, 4/20/2037 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 22875000 | &nbsp;&nbsp;&nbsp;&nbsp; 22951814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5A, Class AR, 5.26%, 10/15/2037 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5200000 | &nbsp;&nbsp;&nbsp;&nbsp; 5207145 |
| &nbsp;&nbsp;&nbsp; Enterprise Fleet Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class A3, 4.41%, 6/20/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3565000 | &nbsp;&nbsp;&nbsp;&nbsp; 3600073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3, Class A3, 4.46%, 9/20/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5567401 |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4A, Class E, 4.02%, 1/17/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8200000 | &nbsp;&nbsp;&nbsp;&nbsp; 8140165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5A, Class A3, 4.45%, 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1079503 | &nbsp;&nbsp;&nbsp;&nbsp; 1079796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-4A, Class C, 6.51%, 8/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1825192 | &nbsp;&nbsp;&nbsp;&nbsp; 1836894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class C, 5.74%, 5/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 15565000 | &nbsp;&nbsp;&nbsp;&nbsp; 15695480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5A, Class B, 4.28%, 7/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 6665000 | &nbsp;&nbsp;&nbsp;&nbsp; 6677512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4A, Class A3, 5.28%, 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1307475 | &nbsp;&nbsp;&nbsp;&nbsp; 1308572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5A, Class C, 4.68%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 2975000 | &nbsp;&nbsp;&nbsp;&nbsp; 2991148 |
| &nbsp;&nbsp;&nbsp; Exeter Select Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class B, 4.63%, 11/17/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 3748000 | &nbsp;&nbsp;&nbsp;&nbsp; 3780050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3, Class B, 4.42%, 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 5920000 | &nbsp;&nbsp;&nbsp;&nbsp; 5926843 |
| &nbsp;&nbsp;&nbsp; First Franklin Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2002-FF1, Class M1, 5.12%, 4/25/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 37496 | &nbsp;&nbsp;&nbsp;&nbsp; 43847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2002-FF4, Class M1, 5.64%, 2/25/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 578174 | &nbsp;&nbsp;&nbsp;&nbsp; 510167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-FFH1, Class M2, 6.69%, 9/25/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 229618 | &nbsp;&nbsp;&nbsp;&nbsp; 208651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-FF8, Class M4, 5.67%, 10/25/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 176798 | &nbsp;&nbsp;&nbsp;&nbsp; 128272 |
| &nbsp;&nbsp;&nbsp; First Investors Auto Owner Trust Series 2025-1A, Class B, 4.39%, 1/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5002263 |
| &nbsp;&nbsp;&nbsp; FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-SFR3, Class B, 4.50%, 7/17/2038 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 11988000 | &nbsp;&nbsp;&nbsp;&nbsp; 11952578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR1, Class A, 1.54%, 8/17/2038 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6139277 | &nbsp;&nbsp;&nbsp;&nbsp; 6017232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-SFRA, Class A, 3.10%, 3/17/2039 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1949382 | &nbsp;&nbsp;&nbsp;&nbsp; 1917691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-SFR1, Class B, 4.49%, 5/19/2039 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5978640 |
| &nbsp;&nbsp;&nbsp; Fortiva Retail Credit Master Note Business Trust Series 2025-TWO, Class A, 5.92%, 5/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3455000 | &nbsp;&nbsp;&nbsp;&nbsp; 3454218 |
| &nbsp;&nbsp;&nbsp; Foundation Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A, 5.50%, 12/15/2049 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1527757 | &nbsp;&nbsp;&nbsp;&nbsp; 1564019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class A, 4.60%, 3/15/2050 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3320098 | &nbsp;&nbsp;&nbsp;&nbsp; 3334060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A, 4.95%, 4/15/2050 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8797309 | &nbsp;&nbsp;&nbsp;&nbsp; 8913796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A, 4.67%, 4/15/2052 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8662045 | &nbsp;&nbsp;&nbsp;&nbsp; 8715627 |
| &nbsp;&nbsp;&nbsp; FS Rialto (Cayman Islands) Series 2021-FL3, Class A, 5.32%, 11/16/2036 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2630525 | &nbsp;&nbsp;&nbsp;&nbsp; 2628441 |
| &nbsp;&nbsp;&nbsp; Generate CLO Ltd. (Cayman Islands) Series 6A, Class AR2, 5.26%, 10/22/2037 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5005710 |
| &nbsp;&nbsp;&nbsp; GLS Auto Receivables Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A, Class E, 5.64%, 5/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7058028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class B, 4.98%, 7/16/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 15300000 | &nbsp;&nbsp;&nbsp;&nbsp; 15439106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class B, 4.97%, 10/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2523038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A, Class B, 4.57%, 1/15/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8260000 | &nbsp;&nbsp;&nbsp;&nbsp; 8288227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4A, Class C, 4.74%, 8/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 7220000 | &nbsp;&nbsp;&nbsp;&nbsp; 7253141 |
| &nbsp;&nbsp;&nbsp; GLS Auto Select Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4A, Class A2, 4.43%, 12/17/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 858229 | &nbsp;&nbsp;&nbsp;&nbsp; 860347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A, Class B, 4.81%, 9/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1609000 | &nbsp;&nbsp;&nbsp;&nbsp; 1621809 |
| &nbsp;&nbsp;&nbsp; GM Financial Automobile Leasing Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3, Class A3, 4.21%, 10/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1251445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3, Class A4, 4.22%, 10/20/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1253595 |
| &nbsp;&nbsp;&nbsp; Gm Financial Consumer Automobile Receivables Trust Series 2025-3, Class B, 4.53%, 9/16/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1740000 | &nbsp;&nbsp;&nbsp;&nbsp; 1760458 |
| &nbsp;&nbsp;&nbsp; GMF Floorplan Owner Revolving Trust Series 2024-4A, Class A2, 4.69%, 11/15/2029 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3000121 |
| &nbsp;&nbsp;&nbsp; Goodgreen (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A, Class A, 3.93%, 10/15/2053 ‡ (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1533930 | &nbsp;&nbsp;&nbsp;&nbsp; 1426271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1A, Class A, 3.86%, 10/15/2054 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1087518 | &nbsp;&nbsp;&nbsp;&nbsp; 1005717 |
| &nbsp;&nbsp;&nbsp; Goodgreen Trust Series 2017-2A, Class A, 3.26%, 10/15/2053 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp; 945113 | &nbsp;&nbsp;&nbsp;&nbsp; 862586 |
| &nbsp;&nbsp;&nbsp; GreatAmerica Leasing Receivables Funding LLC Series 2025-1, Class A3, 4.49%, 4/16/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2021248 |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; GreenSky Home Improvement Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2, Class A3, 5.15%, 10/27/2059 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2547746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2, Class B, 5.26%, 10/27/2059 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1090000 | &nbsp;&nbsp;&nbsp;&nbsp; 1103997 |
| &nbsp;&nbsp;&nbsp; Harley-Davidson Motorcycle Trust Series 2024-B, Class A4, 4.28%, 4/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 2850000 | &nbsp;&nbsp;&nbsp;&nbsp; 2870318 |
| &nbsp;&nbsp;&nbsp; HERO Funding (Cayman Islands) Series 2017-3A, Class A2, 3.95%, 9/20/2048 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp; 584646 | &nbsp;&nbsp;&nbsp;&nbsp; 551665 |
| &nbsp;&nbsp;&nbsp; Hertz Vehicle Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A, Class A, 5.06%, 12/26/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 14285000 | &nbsp;&nbsp;&nbsp;&nbsp; 14502062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A, 5.13%, 9/25/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp;&nbsp; 1071538 |
| &nbsp;&nbsp;&nbsp; Hertz Vehicle Financing LP Series 2021-2A, Class A, 1.68%, 12/27/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 13700000 | &nbsp;&nbsp;&nbsp;&nbsp; 13392941 |
| &nbsp;&nbsp;&nbsp; Hilton Grand Vacations Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2A, Class A, 4.30%, 1/25/2037 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 860266 | &nbsp;&nbsp;&nbsp;&nbsp; 857461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-AA, Class A, 2.74%, 2/25/2039 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 383654 | &nbsp;&nbsp;&nbsp;&nbsp; 378057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A, 4.88%, 5/27/2042 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1579055 | &nbsp;&nbsp;&nbsp;&nbsp; 1604390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A, 4.54%, 5/25/2044 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5823570 | &nbsp;&nbsp;&nbsp;&nbsp; 5856383 |
| &nbsp;&nbsp;&nbsp; Home Partners of America Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class B, 4.33%, 4/17/2039 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 9300040 | &nbsp;&nbsp;&nbsp;&nbsp; 9242223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class D, 4.73%, 4/17/2039 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 524618 | &nbsp;&nbsp;&nbsp;&nbsp; 519682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1, Class D, 3.41%, 9/17/2039 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 812485 | &nbsp;&nbsp;&nbsp;&nbsp; 795816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3, Class D, 3.00%, 1/17/2041 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1617289 | &nbsp;&nbsp;&nbsp;&nbsp; 1520845 |
| &nbsp;&nbsp;&nbsp; Huntington Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class B, 4.96%, 3/21/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2766636 | &nbsp;&nbsp;&nbsp;&nbsp; 2788788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class B1, 4.84%, 9/20/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4503806 | &nbsp;&nbsp;&nbsp;&nbsp; 4531869 |
| &nbsp;&nbsp;&nbsp; Jonah Energy ABS LLC Series 2025-2A, Class A1, 5.91%, 1/10/2041 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1860948 | &nbsp;&nbsp;&nbsp;&nbsp; 1863367 |
| &nbsp;&nbsp;&nbsp; KKR CLO Ltd. (Cayman Islands) Series 34A, Class BR, 5.65%, 7/15/2034 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 9643000 | &nbsp;&nbsp;&nbsp;&nbsp; 9649008 |
| &nbsp;&nbsp;&nbsp; LAD Auto Receivables Trust Series 2025-2A, Class B, 4.53%, 5/17/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4025597 |
| &nbsp;&nbsp;&nbsp; LCM Ltd. (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 29A, Class AR, 5.24%, 4/15/2031 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1576751 | &nbsp;&nbsp;&nbsp;&nbsp; 1577340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 36A, Class A1R, 4.97%, 1/15/2034 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3902000 | &nbsp;&nbsp;&nbsp;&nbsp; 3898995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 34A, Class A1R, 5.06%, 10/20/2034 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; 14995635 |
| &nbsp;&nbsp;&nbsp; Lending Funding Trust Series 2020-2A, Class C, 4.30%, 4/21/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 980000 | &nbsp;&nbsp;&nbsp;&nbsp; 967160 |
| &nbsp;&nbsp;&nbsp; Lendmark Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class A, 1.90%, 11/20/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5760000 | &nbsp;&nbsp;&nbsp;&nbsp; 5594227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class B, 2.47%, 11/20/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 957479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class C, 3.41%, 11/20/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1437658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A, Class A, 2.00%, 4/20/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 13165000 | &nbsp;&nbsp;&nbsp;&nbsp; 12708658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A, Class C, 3.09%, 4/20/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3317541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A, 4.78%, 10/20/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6054655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class B, 4.98%, 10/20/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 11025000 | &nbsp;&nbsp;&nbsp;&nbsp; 11143284 |
| &nbsp;&nbsp;&nbsp; M&T Equipment Notes Series 2024-1A, Class A2, 4.99%, 8/18/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2308203 | &nbsp;&nbsp;&nbsp;&nbsp; 2315205 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding Ltd. (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 13A, Class AR2, 4.78%, 11/21/2030 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 11161600 | &nbsp;&nbsp;&nbsp;&nbsp; 11158408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-52A, Class AR, 4.96%, 1/22/2035 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7993624 |
| &nbsp;&nbsp;&nbsp; Magnetite Ltd. (Cayman Islands) Series 2022-32A, Class AR, 5.33%, 10/15/2037 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7994616 |
| &nbsp;&nbsp;&nbsp; Mariner Finance Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-AA, Class A, 1.86%, 3/20/2036 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2946001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-AA, Class A, 5.13%, 9/22/2036 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10700000 | &nbsp;&nbsp;&nbsp;&nbsp; 10847127 |
| &nbsp;&nbsp;&nbsp; Marlette Funding Trust Series 2025-1A, Class B, 4.95%, 7/16/2035 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10044024 |
| &nbsp;&nbsp;&nbsp; Mercedes-Benz Auto Lease Trust Series 2024-B, Class A4, 4.22%, 6/17/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1915000 | &nbsp;&nbsp;&nbsp;&nbsp; 1921872 |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; MF1 Ltd. (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL7, Class A, 5.15%, 10/16/2036 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 885254 | &nbsp;&nbsp;&nbsp;&nbsp; 884938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FL8, Class A, 5.31%, 2/19/2037 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3246727 | &nbsp;&nbsp;&nbsp;&nbsp; 3246714 |
| &nbsp;&nbsp;&nbsp; Mission Lane Credit Card Master Trust Series 2025-B, Class A, 5.06%, 9/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5700000 | &nbsp;&nbsp;&nbsp;&nbsp; 5742992 |
| &nbsp;&nbsp;&nbsp; MMP Capital LLC Series 2025-A, Class A, 5.36%, 12/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1751361 | &nbsp;&nbsp;&nbsp;&nbsp; 1764872 |
| &nbsp;&nbsp;&nbsp; MVW LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class A, 4.43%, 3/20/2042 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2020231 | &nbsp;&nbsp;&nbsp;&nbsp; 2027256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A, 4.97%, 9/22/2042 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3049355 | &nbsp;&nbsp;&nbsp;&nbsp; 3096698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A, 5.32%, 2/20/2043 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1304116 | &nbsp;&nbsp;&nbsp;&nbsp; 1324550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A, 4.48%, 10/20/2044 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6060000 | &nbsp;&nbsp;&nbsp;&nbsp; 6083803 |
| &nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers CLO Ltd. (Cayman Islands) Series 2021-42A, Class AR, 4.84%, 7/16/2036 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4996520 |
| &nbsp;&nbsp;&nbsp; New Century Home Equity Loan Trust Series 2003-5, Class AII, 1.07%, 11/25/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 94477 | &nbsp;&nbsp;&nbsp;&nbsp; 61269 |
| &nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust Series 2022-SFR2, Class B, 3.75%, 9/4/2039 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 13306000 | &nbsp;&nbsp;&nbsp;&nbsp; 13077500 |
| &nbsp;&nbsp;&nbsp; NMABS Issuer LLC Series 2025-1A, Class A, 5.14%, 11/20/2055 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8780000 | &nbsp;&nbsp;&nbsp;&nbsp; 8817259 |
| &nbsp;&nbsp;&nbsp; NMEF Funding LLC Series 2025-B, Class A2, 4.64%, 1/18/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4235000 | &nbsp;&nbsp;&nbsp;&nbsp; 4248107 |
| &nbsp;&nbsp;&nbsp; OCP CLO Ltd. (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-9A, Class AR3, 5.00%, 1/15/2037 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4987100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-26A, Class AR, 4.96%, 4/17/2037 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4995015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-15A, Class BR, 5.48%, 1/20/2038 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2850000 | &nbsp;&nbsp;&nbsp;&nbsp; 2848438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-44A, Class A, 5.56%, 10/24/2038 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10016940 |
| &nbsp;&nbsp;&nbsp; OneMain Financial Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2A, Class B, 2.21%, 9/14/2035 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1132000 | &nbsp;&nbsp;&nbsp;&nbsp; 1087878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class A1, 1.55%, 6/16/2036 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4848598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class B, 1.95%, 6/16/2036 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3940000 | &nbsp;&nbsp;&nbsp;&nbsp; 3721761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A, Class A, 3.14%, 10/14/2036 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 590804 |
| &nbsp;&nbsp;&nbsp; Oportun Funding Trust Series 2025-1, Class A, 4.96%, 8/16/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 544426 | &nbsp;&nbsp;&nbsp;&nbsp; 545105 |
| &nbsp;&nbsp;&nbsp; Oportun Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A, Class A, 5.01%, 2/8/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3440000 | &nbsp;&nbsp;&nbsp;&nbsp; 3439943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-D, Class B, 5.31%, 2/8/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6300000 | &nbsp;&nbsp;&nbsp;&nbsp; 6302177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B, Class A, 4.88%, 5/9/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 7250000 | &nbsp;&nbsp;&nbsp;&nbsp; 7272814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-C, Class A, 4.49%, 7/8/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10013152 |
| &nbsp;&nbsp;&nbsp; Pagaya AI Technology in Housing Trust Series 2023-1, Class A, 3.60%, 10/25/2040 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3412902 |
| &nbsp;&nbsp;&nbsp; Palmer Square CLO Ltd. (Cayman Islands) Series 2021-2A, Class AR1, 5.15%, 2/15/2038 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4996015 |
| &nbsp;&nbsp;&nbsp; Palmer Square Loan Funding Ltd. (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2A, Class A1, 5.17%, 10/15/2030 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 35305 | &nbsp;&nbsp;&nbsp;&nbsp; 35294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A1, 4.95%, 10/15/2032 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3420530 | &nbsp;&nbsp;&nbsp;&nbsp; 3419538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class A2, 5.35%, 1/15/2033 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4998910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A2, 5.05%, 2/15/2033 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4800000 | &nbsp;&nbsp;&nbsp;&nbsp; 4763405 |
| &nbsp;&nbsp;&nbsp; PEAC Solutions Receivables LLC Series 2024-2A, Class A2, 4.74%, 4/20/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 949351 | &nbsp;&nbsp;&nbsp;&nbsp; 951208 |
| &nbsp;&nbsp;&nbsp; Porsche Innovative Lease Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class A3, 4.35%, 10/20/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2405000 | &nbsp;&nbsp;&nbsp;&nbsp; 2408936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class A4, 4.26%, 9/20/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2835000 | &nbsp;&nbsp;&nbsp;&nbsp; 2843306 |
| &nbsp;&nbsp;&nbsp; PowerPay Issuance Trust Series 2025-1A, Class A, 5.23%, 11/18/2041 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5988722 | &nbsp;&nbsp;&nbsp;&nbsp; 6008753 |
| &nbsp;&nbsp;&nbsp; Prestige Auto Receivables Trust Series 2024-2A, Class A2, 4.72%, 2/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1122253 | &nbsp;&nbsp;&nbsp;&nbsp; 1122949 |
| &nbsp;&nbsp;&nbsp; Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR8, Class A, 1.51%, 10/17/2038 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4391606 | &nbsp;&nbsp;&nbsp;&nbsp; 4310881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR9, Class B, 2.26%, 11/17/2040 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4916000 | &nbsp;&nbsp;&nbsp;&nbsp; 4626851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR10, Class B, 2.72%, 12/17/2040 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4107574 | &nbsp;&nbsp;&nbsp;&nbsp; 3912406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-SFR1, Class B, 3.11%, 2/17/2041 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3832915 |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR1, Class A, 3.35%, 2/17/2041 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5441119 | &nbsp;&nbsp;&nbsp;&nbsp; 5280300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR2, Class A, 3.30%, 4/17/2041 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 7851144 | &nbsp;&nbsp;&nbsp;&nbsp; 7597857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR3, Class A, 3.00%, 6/17/2041 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 24397062 | &nbsp;&nbsp;&nbsp;&nbsp; 23288215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR4, Class A, 3.10%, 7/17/2041 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6878603 | &nbsp;&nbsp;&nbsp;&nbsp; 6590047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR4, Class B, 3.33%, 7/17/2041 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3825933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR2, Class A, 3.31%, 4/17/2042 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 11966534 | &nbsp;&nbsp;&nbsp;&nbsp; 11428433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR3, Class A, 3.39%, 7/17/2042 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9574860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR4, Class A, 4.30%, 8/17/2042 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7945472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR5, Class A, 3.85%, 10/17/2042 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 31820000 | &nbsp;&nbsp;&nbsp;&nbsp; 30923300 |
| &nbsp;&nbsp;&nbsp; RASC Trust Series 2003-KS4, Class MI2, 5.01%, 6/25/2033 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 522587 | &nbsp;&nbsp;&nbsp;&nbsp; 444002 |
| &nbsp;&nbsp;&nbsp; RCKTL Series 2025-2A, Class B, 4.60%, 11/27/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3400000 | &nbsp;&nbsp;&nbsp;&nbsp; 3402289 |
| &nbsp;&nbsp;&nbsp; Reach ABS Trust Series 2025-1A, Class A, 4.96%, 8/16/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 473195 | &nbsp;&nbsp;&nbsp;&nbsp; 474430 |
| &nbsp;&nbsp;&nbsp; Regional Management Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class C, 4.46%, 3/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1334000 | &nbsp;&nbsp;&nbsp;&nbsp; 1326130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2, Class A, 1.90%, 8/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5800568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class A, 4.99%, 4/17/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4055000 | &nbsp;&nbsp;&nbsp;&nbsp; 4081851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1, Class A, 5.83%, 7/15/2036 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5899000 | &nbsp;&nbsp;&nbsp;&nbsp; 6015397 |
| &nbsp;&nbsp;&nbsp; Republic Finance Issuance Trust Series 2025-A, Class A, 4.59%, 11/20/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10021675 |
| &nbsp;&nbsp;&nbsp; Santander Bank Auto Credit-Linked Notes Series 2024-A, Class C, 5.82%, 6/15/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4927504 | &nbsp;&nbsp;&nbsp;&nbsp; 4990679 |
| &nbsp;&nbsp;&nbsp; Santander Drive Auto Receivables Trust Series 2025-4, Class C, 4.52%, 1/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1140000 | &nbsp;&nbsp;&nbsp;&nbsp; 1142738 |
| &nbsp;&nbsp;&nbsp; SBNA Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-C, Class A3, 4.56%, 2/22/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 936905 | &nbsp;&nbsp;&nbsp;&nbsp; 938900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A, Class A3, 4.83%, 4/20/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2012666 |
| &nbsp;&nbsp;&nbsp; SCF Equipment Leasing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A2, 4.82%, 7/22/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1727068 | &nbsp;&nbsp;&nbsp;&nbsp; 1732369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A3, 5.52%, 1/20/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1175000 | &nbsp;&nbsp;&nbsp;&nbsp; 1195182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class B, 4.51%, 6/20/2036 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5495609 |
| &nbsp;&nbsp;&nbsp; Sierra Timeshare Receivables Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A, 4.81%, 1/21/2042 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2116772 | &nbsp;&nbsp;&nbsp;&nbsp; 2134746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A, 4.72%, 4/20/2044 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2312383 | &nbsp;&nbsp;&nbsp;&nbsp; 2327408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A, Class A, 4.44%, 8/22/2044 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3261457 | &nbsp;&nbsp;&nbsp;&nbsp; 3273054 |
| &nbsp;&nbsp;&nbsp; SoFi Consumer Loan Program Trust Series 2025-1, Class A, 4.80%, 2/27/2034 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1979683 | &nbsp;&nbsp;&nbsp;&nbsp; 1986141 |
| &nbsp;&nbsp;&nbsp; SoFi Professional Loan Program Trust Series 2021-B, Class AFX, 1.14%, 2/15/2047 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2035416 | &nbsp;&nbsp;&nbsp;&nbsp; 1796543 |
| &nbsp;&nbsp;&nbsp; STAR Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR5, Class A, 5.41%, 2/17/2042 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 998682 | &nbsp;&nbsp;&nbsp;&nbsp; 1001016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR6, Class A, 5.36%, 8/17/2042 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5009375 |
| &nbsp;&nbsp;&nbsp; Stellantis Financial Underwritten Enhanced Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-AA, Class A3, 4.47%, 7/20/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4825000 | &nbsp;&nbsp;&nbsp;&nbsp; 4856922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-AA, Class B, 4.74%, 4/20/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 12358000 | &nbsp;&nbsp;&nbsp;&nbsp; 12502391 |
| &nbsp;&nbsp;&nbsp; TCI-Flatiron CLO Ltd. (Cayman Islands) Series 2018-1A, Class AR2, 4.79%, 7/29/2035 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3990423 | &nbsp;&nbsp;&nbsp;&nbsp; 3988719 |
| &nbsp;&nbsp;&nbsp; Tesla Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A, Class B, 5.55%, 5/22/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3018081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-B, Class A4, 4.88%, 6/20/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6500000 | &nbsp;&nbsp;&nbsp;&nbsp; 6545089 |
| &nbsp;&nbsp;&nbsp; Tesla Lease Electric Vehicle Securitization LLC Series 2025-A, Class A4, 4.37%, 5/21/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6032454 |
| &nbsp;&nbsp;&nbsp; Toyota Lease Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-B, Class A3, 4.21%, 9/20/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6005920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B, Class A3, 3.96%, 11/20/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 9090000 | &nbsp;&nbsp;&nbsp;&nbsp; 9101650 |
| &nbsp;&nbsp;&nbsp; Tricon American Homes Series 2020-SFR1, Class A, 1.50%, 7/17/2038 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5949833 | &nbsp;&nbsp;&nbsp;&nbsp; 5841891 |
| &nbsp;&nbsp;&nbsp; Tricon American Homes Trust Series 2020-SFR2, Class C, 2.03%, 11/17/2039 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3794922 |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; Tricon Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR2, Class A, 4.75%, 6/17/2040 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1644792 | &nbsp;&nbsp;&nbsp;&nbsp; 1652591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR1, Class A, 4.65%, 4/17/2041 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1388036 | &nbsp;&nbsp;&nbsp;&nbsp; 1390406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR1, Class A, 5.06%, 3/17/2042 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2710988 | &nbsp;&nbsp;&nbsp;&nbsp; 2712670 |
| &nbsp;&nbsp;&nbsp; Truist Bank Auto Credit-Linked Notes Series 2025-1, Class B, 4.73%, 9/26/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8257016 | &nbsp;&nbsp;&nbsp;&nbsp; 8264144 |
| &nbsp;&nbsp;&nbsp; UPG HI Issuer Trust Series 2025-2, Class A, 5.00%, 9/25/2047 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5625000 | &nbsp;&nbsp;&nbsp;&nbsp; 5636036 |
| &nbsp;&nbsp;&nbsp; Upstart Securitization Trust Series 2025-3, Class A2, 4.60%, 9/20/2035 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 11100000 | &nbsp;&nbsp;&nbsp;&nbsp; 11108571 |
| &nbsp;&nbsp;&nbsp; UPX HIL Issuer Trust Series 2025-1, Class A, 5.16%, 1/25/2047 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 7066795 | &nbsp;&nbsp;&nbsp;&nbsp; 7108035 |
| &nbsp;&nbsp;&nbsp; Verdant Receivables LLC Series 2023-1A, Class A2, 6.24%, 1/13/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1310363 | &nbsp;&nbsp;&nbsp;&nbsp; 1333156 |
| &nbsp;&nbsp;&nbsp; Veros Auto Receivables Trust Series 2023-1, Class B, 7.17%, 11/15/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1205633 | &nbsp;&nbsp;&nbsp;&nbsp; 1210787 |
| &nbsp;&nbsp;&nbsp; Volkswagen Auto Lease Trust Series 2025-B, Class A3, 4.01%, 1/22/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 14000000 | &nbsp;&nbsp;&nbsp;&nbsp; 14032504 |
| &nbsp;&nbsp;&nbsp; VOLT C LLC Series 2021-NPL9, Class A1, 5.99%, 5/25/2051 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 558709 | &nbsp;&nbsp;&nbsp;&nbsp; 558593 |
| &nbsp;&nbsp;&nbsp; VOLT XCV LLC Series 2021-NPL4, Class A1, 6.24%, 3/27/2051 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 210941 | &nbsp;&nbsp;&nbsp;&nbsp; 210929 |
| &nbsp;&nbsp;&nbsp; Volvo Financial Equipment LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A3, 4.29%, 10/16/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3010193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A3, 3.99%, 12/17/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3502446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A4, 4.06%, 6/15/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp;&nbsp; 2249303 |
| &nbsp;&nbsp;&nbsp; Voya CLO Ltd. (Cayman Islands) Series 2020-1A, Class ARR, 4.97%, 7/16/2034 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7996008 |
| &nbsp;&nbsp;&nbsp; Western Funding Auto Loan Trust Series 2025-1, Class B, 4.98%, 9/17/2035 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8600000 | &nbsp;&nbsp;&nbsp;&nbsp; 8668883 |
| &nbsp;&nbsp;&nbsp; Westlake Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3A, Class A3, 5.82%, 5/17/2027 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 44425 | &nbsp;&nbsp;&nbsp;&nbsp; 44459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A, Class A3, 4.22%, 6/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6010277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A, Class B, 4.72%, 11/15/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 7480000 | &nbsp;&nbsp;&nbsp;&nbsp; 7509130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A, Class C, 4.68%, 7/15/2031 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5200000 | &nbsp;&nbsp;&nbsp;&nbsp; 5214724 |
| &nbsp;&nbsp;&nbsp; Wheels Fleet Lease Funding LLC Series 2025-1A, Class A1, 4.57%, 1/18/2040 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7047442 |
| &nbsp;&nbsp;&nbsp; Wind River CLO Ltd. (Cayman Islands) Series 2021-4A, Class AR, 5.10%, 1/20/2035 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; 14991675 |
| &nbsp;&nbsp;&nbsp; Wingspire Equipment Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A2, 4.99%, 9/20/2032 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2854964 | &nbsp;&nbsp;&nbsp;&nbsp; 2869740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A2, 4.33%, 9/20/2033 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2545000 | &nbsp;&nbsp;&nbsp;&nbsp; 2546484 |
| &nbsp;&nbsp;&nbsp; World Omni Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A, Class A4, 4.84%, 10/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2890000 | &nbsp;&nbsp;&nbsp;&nbsp; 2931511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B, Class A3, 4.34%, 9/16/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3795000 | &nbsp;&nbsp;&nbsp;&nbsp; 3823157 |
| &nbsp;&nbsp;&nbsp; World Omni Automobile Lease Securitization Trust Series 2025-A, Class A3, 4.42%, 4/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 2750000 | &nbsp;&nbsp;&nbsp;&nbsp; 2769771 |
| &nbsp;&nbsp;&nbsp; World Omni Select Auto Trust Series 2025-A, Class A2A, 4.14%, 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 8500000 | &nbsp;&nbsp;&nbsp;&nbsp; 8503815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities <br>(Cost $1,366,961,405)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 1372923548 |
| **Collateralized Mortgage Obligations — 19.7%** | **Collateralized Mortgage Obligations — 19.7%** | **Collateralized Mortgage Obligations — 19.7%** |
| &nbsp;&nbsp;&nbsp; Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-J4, Class 1A6, 5.40%, 6/25/2034 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 167 | &nbsp;&nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-33, Class 3A3, 4.63%, 12/25/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 88267 | &nbsp;&nbsp;&nbsp;&nbsp; 84343 |
| &nbsp;&nbsp;&nbsp; Anchor Mortgage Trust Series 2025-RTL1, Class A1, 5.72%, 5/25/2040 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 1695000 | &nbsp;&nbsp;&nbsp;&nbsp; 1700606 |
| &nbsp;&nbsp;&nbsp; Banc of America Funding Trust Series 2006-1, Class 2A1, 5.50%, 1/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 73901 | &nbsp;&nbsp;&nbsp;&nbsp; 65913 |
| &nbsp;&nbsp;&nbsp; Banc of America Mortgage Trust Series 2004-D, Class 2A2, 6.45%, 5/25/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 51648 | &nbsp;&nbsp;&nbsp;&nbsp; 50151 |
| &nbsp;&nbsp;&nbsp; Bear Stearns Asset-Backed Securities I Trust Series 2004-AC6, Class M1, 5.07%, 11/25/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 25754 | &nbsp;&nbsp;&nbsp;&nbsp; 12452 |
| &nbsp;&nbsp;&nbsp; BRAVO Residential Funding Trust Series 2025-NQM6, Class A1, 5.33%, 6/25/2065 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 5619191 | &nbsp;&nbsp;&nbsp;&nbsp; 5643005 |
| &nbsp;&nbsp;&nbsp; Brean Asset-Backed Securities Trust Series 2025-RM13, Class A1, 4.25%, 10/25/2065 ‡ (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2127489 | &nbsp;&nbsp;&nbsp;&nbsp; 2062170 |
| &nbsp;&nbsp;&nbsp; CAFL Issuer LP Series 2025-RRTL2, Class A1, 5.18%, 11/28/2040 ‡ (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 4865000 | &nbsp;&nbsp;&nbsp;&nbsp; 4831119 |
| &nbsp;&nbsp;&nbsp; CFMT LLC Series 2024-HB15, Class A, 4.00%, 8/25/2034 ‡ (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1137080 | &nbsp;&nbsp;&nbsp;&nbsp; 1132249 |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| &nbsp;&nbsp;&nbsp; Connecticut Avenue Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R01, Class 1A1, 5.02%, 1/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3077586 | &nbsp;&nbsp;&nbsp;&nbsp; 3080468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R01, Class 1M1, 5.17%, 1/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2061439 | &nbsp;&nbsp;&nbsp;&nbsp; 2062732 |
| &nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R03, Class 1M1, 4.92%, 12/25/2041 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 421035 | &nbsp;&nbsp;&nbsp;&nbsp; 420910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-R01, Class 1M1, 5.07%, 12/25/2041 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 517485 | &nbsp;&nbsp;&nbsp;&nbsp; 517485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-R01, Class 1M2, 5.97%, 12/25/2041 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4892532 | &nbsp;&nbsp;&nbsp;&nbsp; 4917104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-R03, Class 1M2, 7.57%, 3/25/2042 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 16858571 | &nbsp;&nbsp;&nbsp;&nbsp; 17362163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R01, Class 1M1, 5.12%, 1/25/2044 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1250994 | &nbsp;&nbsp;&nbsp;&nbsp; 1249825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R02, Class 1M1, 5.17%, 2/25/2044 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1414633 | &nbsp;&nbsp;&nbsp;&nbsp; 1416332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R05, Class 2A1, 5.07%, 7/25/2044 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 40349237 | &nbsp;&nbsp;&nbsp;&nbsp; 40349193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R05, Class 2M1, 5.07%, 7/25/2044 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 381558 | &nbsp;&nbsp;&nbsp;&nbsp; 381342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R06, Class 1A1, 5.22%, 9/25/2044 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4403435 | &nbsp;&nbsp;&nbsp;&nbsp; 4418031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R02, Class 1A1, 5.07%, 2/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 16509382 | &nbsp;&nbsp;&nbsp;&nbsp; 16536808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R02, Class 1M1, 5.22%, 2/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2488791 | &nbsp;&nbsp;&nbsp;&nbsp; 2491858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R03, Class 2A1, 5.52%, 3/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2134873 | &nbsp;&nbsp;&nbsp;&nbsp; 2148252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R03, Class 2M1, 5.67%, 3/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1831438 | &nbsp;&nbsp;&nbsp;&nbsp; 1838043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R04, Class 1M1, 5.27%, 5/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2247465 | &nbsp;&nbsp;&nbsp;&nbsp; 2265312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R05, Class 2M1, 5.27%, 7/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 8986157 | &nbsp;&nbsp;&nbsp;&nbsp; 8985444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R06, Class 1M1, 5.02%, 9/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3774624 | &nbsp;&nbsp;&nbsp;&nbsp; 3770109 |
| &nbsp;&nbsp;&nbsp; Credit Suisse First Boston Mortgage Securities Corp. (Switzerland) Series 2004-5, Class 4A1, 6.00%, 9/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 181197 | &nbsp;&nbsp;&nbsp;&nbsp; 185323 |
| &nbsp;&nbsp;&nbsp; CSFB Mortgage-Backed Pass-Through Certificates Series 2003-AR24, Class 2A4, 6.99%, 10/25/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 84656 | &nbsp;&nbsp;&nbsp;&nbsp; 83289 |
| &nbsp;&nbsp;&nbsp; Deutsche Alt-A Securities, Inc. Mortgage Loan Trust Series 2005-1, Class 2A1, 3.41%, 2/25/2020 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 16267 | &nbsp;&nbsp;&nbsp;&nbsp; 15881 |
| &nbsp;&nbsp;&nbsp; FHLMC Seasoned Credit Risk Transfer Trust Series 2020-1, Class M55G, 3.00%, 8/25/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 5843965 | &nbsp;&nbsp;&nbsp;&nbsp; 5332352 |
| &nbsp;&nbsp;&nbsp; FHLMC Stacr Remic Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-HQA1, Class A1, 5.02%, 2/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 6250000 | &nbsp;&nbsp;&nbsp;&nbsp; 6256114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-HQA1, Class M1, 5.22%, 2/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4055179 | &nbsp;&nbsp;&nbsp;&nbsp; 4052676 |
| &nbsp;&nbsp;&nbsp; FHLMC STACR REMIC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-HQA2, Class A1, 5.32%, 8/25/2044 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 8500000 | &nbsp;&nbsp;&nbsp;&nbsp; 8545236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DNA2, Class M1, 5.27%, 5/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1635025 | &nbsp;&nbsp;&nbsp;&nbsp; 1635390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DNA3, Class M1, 5.17%, 9/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 10955218 | &nbsp;&nbsp;&nbsp;&nbsp; 10947873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DNA4, Class M1, 5.17%, 10/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 11852015 | &nbsp;&nbsp;&nbsp;&nbsp; 11844490 |
| &nbsp;&nbsp;&nbsp; FHLMC, REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 1974, Class ZA, 7.00%, 7/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 819 | &nbsp;&nbsp;&nbsp;&nbsp; 820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4120, Class KI, IO, 3.00%, 10/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 382615 | &nbsp;&nbsp;&nbsp;&nbsp; 18853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4187, Class CA, 2.00%, 4/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 7499148 | &nbsp;&nbsp;&nbsp;&nbsp; 7091222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5000, Class CB, 1.25%, 1/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 2879077 | &nbsp;&nbsp;&nbsp;&nbsp; 2664517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 3300, Class FA, 4.56%, 8/15/2035 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 74653 | &nbsp;&nbsp;&nbsp;&nbsp; 73936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 3085, Class VS, IF, 11.69%, 12/15/2035 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 72178 | &nbsp;&nbsp;&nbsp;&nbsp; 88341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4867, Class WF, 4.83%, 4/15/2037 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4780088 | &nbsp;&nbsp;&nbsp;&nbsp; 4724445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4350, Class AF, 4.78%, 12/15/2037 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1266765 | &nbsp;&nbsp;&nbsp;&nbsp; 1235736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4350, Class FK, 4.78%, 6/15/2038 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1578922 | &nbsp;&nbsp;&nbsp;&nbsp; 1540712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4515, Class FA, 4.80%, 8/15/2038 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 698529 | &nbsp;&nbsp;&nbsp;&nbsp; 689152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4350, Class KF, 4.78%, 1/15/2039 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 204722 | &nbsp;&nbsp;&nbsp;&nbsp; 199688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4448, Class TF, 4.75%, 5/15/2040 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1277220 | &nbsp;&nbsp;&nbsp;&nbsp; 1261110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4480, Class FM, 4.78%, 6/15/2040 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2135005 | &nbsp;&nbsp;&nbsp;&nbsp; 2081953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4457, Class KF, 4.78%, 10/15/2040 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2273115 | &nbsp;&nbsp;&nbsp;&nbsp; 2244398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4611, Class BF, 4.66%, 6/15/2041 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 7252240 | &nbsp;&nbsp;&nbsp;&nbsp; 7190870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4363, Class FA, 4.80%, 9/15/2041 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1169023 | &nbsp;&nbsp;&nbsp;&nbsp; 1153770 |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4413, Class WF, 4.78%, 10/15/2041 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 876451 | &nbsp;&nbsp;&nbsp;&nbsp; 855364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4559, Class AF, 4.93%, 3/15/2042 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 706643 | &nbsp;&nbsp;&nbsp;&nbsp; 714691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4074, Class FE, 4.66%, 7/15/2042 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1007351 | &nbsp;&nbsp;&nbsp;&nbsp; 996059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4150, Class F, 4.63%, 1/15/2043 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2845541 | &nbsp;&nbsp;&nbsp;&nbsp; 2803584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4161, Class YF, 4.63%, 2/15/2043 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2147875 | &nbsp;&nbsp;&nbsp;&nbsp; 2116939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4281, Class FB, 4.81%, 12/15/2043 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1364339 | &nbsp;&nbsp;&nbsp;&nbsp; 1355996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4606, Class FL, 4.76%, 12/15/2044 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2866125 | &nbsp;&nbsp;&nbsp;&nbsp; 2840517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4594, Class GN, 2.50%, 2/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 1282756 | &nbsp;&nbsp;&nbsp;&nbsp; 1212588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4935, Class KP, 2.50%, 12/25/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 2945065 | &nbsp;&nbsp;&nbsp;&nbsp; 2644606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5564, Class DA, 5.00%, 8/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 18727822 | &nbsp;&nbsp;&nbsp;&nbsp; 18867687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5072, Class QC, 1.00%, 10/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 4590311 | &nbsp;&nbsp;&nbsp;&nbsp; 3770082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5551, Class BA, 5.00%, 10/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 14012144 | &nbsp;&nbsp;&nbsp;&nbsp; 14002221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5270, Class FH, 5.02%, 6/25/2052 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2994207 | &nbsp;&nbsp;&nbsp;&nbsp; 2966251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5381, Class FC, 5.07%, 2/25/2054 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 7682496 | &nbsp;&nbsp;&nbsp;&nbsp; 7703761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5500, Class KF, 4.97%, 10/25/2054 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 12157728 | &nbsp;&nbsp;&nbsp;&nbsp; 12172662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5460, Class AF, 5.12%, 10/25/2054 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 8873366 | &nbsp;&nbsp;&nbsp;&nbsp; 8871555 |
| &nbsp;&nbsp;&nbsp; FHLMC, STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 343, Class F4, 4.78%, 10/15/2037 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1234021 | &nbsp;&nbsp;&nbsp;&nbsp; 1218768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 328, Class S4, IF, IO, 1.92%, 2/15/2038 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2139381 | &nbsp;&nbsp;&nbsp;&nbsp; 111936 |
| &nbsp;&nbsp;&nbsp; FHLMC, Structured Pass-Through Certificates, Whole Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series T-51, Class 1A, PO, 9/25/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 36777 | &nbsp;&nbsp;&nbsp;&nbsp; 29471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series T-54, Class 4A, 0.04%, 2/25/2043 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 496766 | &nbsp;&nbsp;&nbsp;&nbsp; 482509 |
| &nbsp;&nbsp;&nbsp; First Horizon Mortgage Pass-Through Trust Series 2004-AR6, Class 2A1, 4.34%, 12/25/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 59490 | &nbsp;&nbsp;&nbsp;&nbsp; 57577 |
| &nbsp;&nbsp;&nbsp; Flagstar Mortgage Trust Series 2019-2, Class A2, 3.50%, 12/25/2049 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1138324 | &nbsp;&nbsp;&nbsp;&nbsp; 1040265 |
| &nbsp;&nbsp;&nbsp; FNMA Trust, Whole Loan Series 2004-W2, Class 4A, 5.07%, 2/25/2044 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 64578 | &nbsp;&nbsp;&nbsp;&nbsp; 63786 |
| &nbsp;&nbsp;&nbsp; FNMA, Grantor Trust, Whole Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2002-T6, Class A4, 5.38%, 3/25/2041 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 291297 | &nbsp;&nbsp;&nbsp;&nbsp; 283489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2001-T8, Class A1, 7.50%, 7/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 92696 | &nbsp;&nbsp;&nbsp;&nbsp; 94686 |
| &nbsp;&nbsp;&nbsp; FNMA, REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-43, Class YH, 2.50%, 5/25/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 408678 | &nbsp;&nbsp;&nbsp;&nbsp; 393874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-17, Class BF, 4.54%, 1/25/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 14948 | &nbsp;&nbsp;&nbsp;&nbsp; 14940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-7, Class EV, 5.50%, 1/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 11391459 | &nbsp;&nbsp;&nbsp;&nbsp; 11815414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-16, Class HZ, 5.50%, 3/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 87272 | &nbsp;&nbsp;&nbsp;&nbsp; 90593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-24, Class PV, 5.00%, 4/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 7893108 | &nbsp;&nbsp;&nbsp;&nbsp; 7990387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-124, Class FC, 4.54%, 1/25/2037 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 418835 | &nbsp;&nbsp;&nbsp;&nbsp; 414886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-76, Class ZG, 6.00%, 8/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 88735 | &nbsp;&nbsp;&nbsp;&nbsp; 91780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-23, Class FA, 4.73%, 10/25/2039 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5596953 | &nbsp;&nbsp;&nbsp;&nbsp; 5522340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2010-64, Class FC, 4.69%, 6/25/2040 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4822487 | &nbsp;&nbsp;&nbsp;&nbsp; 4800398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-38, Class PA, 2.00%, 9/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 552937 | &nbsp;&nbsp;&nbsp;&nbsp; 528568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-93, Class ME, 2.50%, 1/25/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 720537 | &nbsp;&nbsp;&nbsp;&nbsp; 691240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-13, Class FA, 4.77%, 2/25/2042 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3720872 | &nbsp;&nbsp;&nbsp;&nbsp; 3705451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-31, Class FB, 4.74%, 4/25/2042 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3103564 | &nbsp;&nbsp;&nbsp;&nbsp; 3087075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-23, Class KJ, 2.25%, 5/25/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 1098449 | &nbsp;&nbsp;&nbsp;&nbsp; 1039560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-119, Class FB, 4.54%, 11/25/2042 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2125043 | &nbsp;&nbsp;&nbsp;&nbsp; 2091755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-139, Class JA, 3.50%, 12/25/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 1537486 | &nbsp;&nbsp;&nbsp;&nbsp; 1481731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-6, Class FL, 4.59%, 2/25/2043 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 486795 | &nbsp;&nbsp;&nbsp;&nbsp; 480700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-49, Class AF, 4.75%, 8/25/2044 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 73052 | &nbsp;&nbsp;&nbsp;&nbsp; 71438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-58, Class FG, 4.54%, 9/25/2044 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3463535 | &nbsp;&nbsp;&nbsp;&nbsp; 3419365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-28, Class CI, IO, 4.00%, 5/25/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 7400805 | &nbsp;&nbsp;&nbsp;&nbsp; 1370326 |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-42, Class BF, 4.74%, 6/25/2045 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1525782 | &nbsp;&nbsp;&nbsp;&nbsp; 1510727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-25, Class LA, 3.00%, 7/25/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 5109822 | &nbsp;&nbsp;&nbsp;&nbsp; 4882677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-33, Class JA, 3.00%, 7/25/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 1708006 | &nbsp;&nbsp;&nbsp;&nbsp; 1636165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-91, Class AF, 4.80%, 12/25/2045 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1640778 | &nbsp;&nbsp;&nbsp;&nbsp; 1658908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-19, Class OP, PO, 4/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 847308 | &nbsp;&nbsp;&nbsp;&nbsp; 676860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-58, Class SA, IO, 1.63%, 8/25/2046 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4454352 | &nbsp;&nbsp;&nbsp;&nbsp; 254111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-108, Class PA, 3.00%, 6/25/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 1190784 | &nbsp;&nbsp;&nbsp;&nbsp; 1129477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-104, Class LA, 3.00%, 11/25/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 828273 | &nbsp;&nbsp;&nbsp;&nbsp; 777971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-38, Class PC, 3.00%, 2/25/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 1838116 | &nbsp;&nbsp;&nbsp;&nbsp; 1752656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-7, Class CI, IO, 4.00%, 2/25/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 8595738 | &nbsp;&nbsp;&nbsp;&nbsp; 1675488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-70, Class FD, 4.47%, 1/25/2050 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 14395846 | &nbsp;&nbsp;&nbsp;&nbsp; 14201092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-77, Class FP, 4.74%, 1/25/2050 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 8019185 | &nbsp;&nbsp;&nbsp;&nbsp; 7879030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-92, Class HB, 5.00%, 12/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 6082229 | &nbsp;&nbsp;&nbsp;&nbsp; 6133398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-12, Class GE, 2.50%, 3/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 6520749 | &nbsp;&nbsp;&nbsp;&nbsp; 6107452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-41, Class GF, 4.69%, 3/25/2053 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 8985287 | &nbsp;&nbsp;&nbsp;&nbsp; 8945138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-10, Class FA, 5.17%, 3/25/2054 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 32343914 | &nbsp;&nbsp;&nbsp;&nbsp; 32372125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-66, Class WF, 4.78%, 10/25/2054 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 679832 | &nbsp;&nbsp;&nbsp;&nbsp; 681653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-104, Class CF, 4.92%, 1/25/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5728541 | &nbsp;&nbsp;&nbsp;&nbsp; 5727603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-74, Class BF, 4.74%, 12/25/2059 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3722049 | &nbsp;&nbsp;&nbsp;&nbsp; 3638503 |
| &nbsp;&nbsp;&nbsp; FNMA, REMIC Trust, Whole Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-W4, Class 5A, 4.31%, 10/25/2042 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 258219 | &nbsp;&nbsp;&nbsp;&nbsp; 257992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-W1, Class 2A, 5.08%, 12/25/2042 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 87203 | &nbsp;&nbsp;&nbsp;&nbsp; 88307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-W15, Class 3A, 5.13%, 12/25/2042 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 279687 | &nbsp;&nbsp;&nbsp;&nbsp; 275003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2009-W1, Class A, 6.00%, 12/25/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 67891 | &nbsp;&nbsp;&nbsp;&nbsp; 70742 |
| &nbsp;&nbsp;&nbsp; FNMA, STRIPS Series 400, Class 1, PO, 11/25/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 782246 | &nbsp;&nbsp;&nbsp;&nbsp; 633660 |
| &nbsp;&nbsp;&nbsp; GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2011-158, Class EB, 4.00%, 12/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 244466 | &nbsp;&nbsp;&nbsp;&nbsp; 243849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-61, Class FM, 4.47%, 5/16/2042 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2806317 | &nbsp;&nbsp;&nbsp;&nbsp; 2785737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-12, Class PA, 2.50%, 6/20/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 3771699 | &nbsp;&nbsp;&nbsp;&nbsp; 3579124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-28, Class BA, 5.00%, 2/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 1544031 | &nbsp;&nbsp;&nbsp;&nbsp; 1564779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-44, Class HM, 4.00%, 4/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 3372447 | &nbsp;&nbsp;&nbsp;&nbsp; 3232537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-24, Class FD, 4.80%, 2/20/2053 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 9724173 | &nbsp;&nbsp;&nbsp;&nbsp; 9660980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-159, Class PA, 4.50%, 10/20/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 4765049 | &nbsp;&nbsp;&nbsp;&nbsp; 4718580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-41, Class KF, 5.00%, 3/20/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 14586199 | &nbsp;&nbsp;&nbsp;&nbsp; 14602829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-65, Class FP, 5.10%, 4/20/2055 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 28700756 | &nbsp;&nbsp;&nbsp;&nbsp; 28707351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-H21, Class FA, 4.72%, 7/20/2062 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 371269 | &nbsp;&nbsp;&nbsp;&nbsp; 370986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-H29, Class FA, 4.74%, 10/20/2062 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 204759 | &nbsp;&nbsp;&nbsp;&nbsp; 204815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-H16, Class FA, 4.76%, 7/20/2063 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 702202 | &nbsp;&nbsp;&nbsp;&nbsp; 702710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-H07, Class FC, 4.82%, 5/20/2064 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3777928 | &nbsp;&nbsp;&nbsp;&nbsp; 3782725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-H11, Class JA, 4.72%, 6/20/2064 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 714366 | &nbsp;&nbsp;&nbsp;&nbsp; 714323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-H17, Class FM, 4.87%, 8/20/2064 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2248466 | &nbsp;&nbsp;&nbsp;&nbsp; 2247872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H03, Class FD, 4.86%, 1/20/2065 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1362324 | &nbsp;&nbsp;&nbsp;&nbsp; 1362651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H04, Class FL, 4.86%, 2/20/2065 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1754431 | &nbsp;&nbsp;&nbsp;&nbsp; 1754047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H12, Class FJ, 4.65%, 5/20/2065 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 902491 | &nbsp;&nbsp;&nbsp;&nbsp; 901734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H14, Class FB, 4.65%, 5/20/2065 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1109707 | &nbsp;&nbsp;&nbsp;&nbsp; 1108949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H12, Class FA, 4.70%, 5/20/2065 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1016470 | &nbsp;&nbsp;&nbsp;&nbsp; 1016313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H15, Class FB, 4.82%, 6/20/2065 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1710918 | &nbsp;&nbsp;&nbsp;&nbsp; 1710545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H19, Class FN, 4.66%, 7/20/2065 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2008353 | &nbsp;&nbsp;&nbsp;&nbsp; 2006981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H23, Class TA, 4.69%, 9/20/2065 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2587347 | &nbsp;&nbsp;&nbsp;&nbsp; 2586312 |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-H07, Class FA, 5.18%, 5/20/2071 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 6168069 | &nbsp;&nbsp;&nbsp;&nbsp; 6200929 |
| &nbsp;&nbsp;&nbsp; GSAA Trust Series 2004-CW1, Class 1A1, 5.50%, 4/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 286843 | &nbsp;&nbsp;&nbsp;&nbsp; 281374 |
| &nbsp;&nbsp;&nbsp; GSR Mortgage Loan Trust Series 2004-10F, Class 7A1, 5.50%, 9/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 38572 | &nbsp;&nbsp;&nbsp;&nbsp; 38934 |
| &nbsp;&nbsp;&nbsp; Impac CMB Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-6, Class 1A2, 4.85%, 10/25/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 8662 | &nbsp;&nbsp;&nbsp;&nbsp; 8672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-5, Class A1, 4.71%, 8/25/2035 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 217680 | &nbsp;&nbsp;&nbsp;&nbsp; 207944 |
| &nbsp;&nbsp;&nbsp; IndyMac INDA Mortgage Loan Trust Series 2007-AR1, Class 1A1, 4.05%, 3/25/2037 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 182532 | &nbsp;&nbsp;&nbsp;&nbsp; 140813 |
| &nbsp;&nbsp;&nbsp; JPMorgan Mortgage Trust Series 2003-A1, Class 1A1, 5.03%, 10/25/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 9830 | &nbsp;&nbsp;&nbsp;&nbsp; 9468 |
| &nbsp;&nbsp;&nbsp; LHOME Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL4, Class A1, 5.92%, 7/25/2039 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3013730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RTL1, Class A1, 5.65%, 1/25/2040 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 1240000 | &nbsp;&nbsp;&nbsp;&nbsp; 1247449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RTL2, Class A1, 5.61%, 4/25/2040 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1695000 | &nbsp;&nbsp;&nbsp;&nbsp; 1705820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RTL3, Class A1, 5.24%, 8/25/2040 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 4250000 | &nbsp;&nbsp;&nbsp;&nbsp; 4258165 |
| &nbsp;&nbsp;&nbsp; MASTR Adjustable Rate Mortgages Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-13, Class 2A1, 6.29%, 4/21/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 36871 | &nbsp;&nbsp;&nbsp;&nbsp; 36289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-13, Class 3A7B, 5.70%, 11/21/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 119923 | &nbsp;&nbsp;&nbsp;&nbsp; 117884 |
| &nbsp;&nbsp;&nbsp; MASTR Seasoned Securitization Trust Series 2003-1, Class 3A2, 4.47%, 2/25/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 29542 | &nbsp;&nbsp;&nbsp;&nbsp; 28922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mellon Residential Funding Corp. Mortgage Pass-Through Certificates Series 2001-TBC1, Class B1, 4.95%, <br> 11/15/2031 (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 32521 | &nbsp;&nbsp;&nbsp;&nbsp; 31037 |
| &nbsp;&nbsp;&nbsp; Merrill Lynch Mortgage Investors Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-D, Class A1, 4.73%, 9/25/2029 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 8970 | &nbsp;&nbsp;&nbsp;&nbsp; 9161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-1, Class 2A3, 5.32%, 12/25/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 39969 | &nbsp;&nbsp;&nbsp;&nbsp; 35427 |
| &nbsp;&nbsp;&nbsp; Metlife Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-1A, Class A, 3.00%, 4/25/2055 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 376620 | &nbsp;&nbsp;&nbsp;&nbsp; 364199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A, Class A, 3.75%, 3/25/2057 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1348558 | &nbsp;&nbsp;&nbsp;&nbsp; 1321728 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Dean Witter Capital I, Inc. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-HYB1, Class A4, 5.10%, 3/25/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 29079 | &nbsp;&nbsp;&nbsp;&nbsp; 25975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-HYB1, Class B1, 5.10%, 3/25/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4127 | &nbsp;&nbsp;&nbsp;&nbsp; 427 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-3, Class 4A, 5.63%, 4/25/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 406464 | &nbsp;&nbsp;&nbsp;&nbsp; 402986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-5AR, Class 3A3, 5.15%, 7/25/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 49230 | &nbsp;&nbsp;&nbsp;&nbsp; 48259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-5AR, Class 3A5, 5.15%, 7/25/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 277433 | &nbsp;&nbsp;&nbsp;&nbsp; 274563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-11AR, Class 1A2A, 4.38%, 1/25/2035 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 106041 | &nbsp;&nbsp;&nbsp;&nbsp; 102159 |
| &nbsp;&nbsp;&nbsp; MRFC Mortgage Pass-Through Trust Series 2002-TBC2, Class B1, 4.92%, 8/15/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 21278 | &nbsp;&nbsp;&nbsp;&nbsp; 22049 |
| &nbsp;&nbsp;&nbsp; NAAC Reperforming Loan REMIC Trust Certificates Series 2004-R3, Class AF, 4.52%, 2/25/2035 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 401727 | &nbsp;&nbsp;&nbsp;&nbsp; 329200 |
| &nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL2, Class A1, 5.44%, 9/25/2039 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 3960000 | &nbsp;&nbsp;&nbsp;&nbsp; 3989681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-4A, Class A1S, 4.82%, 1/25/2048 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 715294 | &nbsp;&nbsp;&nbsp;&nbsp; 702753 |
| &nbsp;&nbsp;&nbsp; Nomura Asset Acceptance Corp. Alternative Loan Trust Series 2003-A3, Class A1, 5.50%, 8/25/2033 (c) | &nbsp;&nbsp;&nbsp;&nbsp; 104796 | &nbsp;&nbsp;&nbsp;&nbsp; 106843 |
| &nbsp;&nbsp;&nbsp; NYMT Loan Trust Series 2024-BPL3, Class A1, 5.27%, 9/25/2039 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 1055000 | &nbsp;&nbsp;&nbsp;&nbsp; 1056661 |
| &nbsp;&nbsp;&nbsp; OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-NQM15, Class A1, 5.32%, 10/25/2064 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 2240384 | &nbsp;&nbsp;&nbsp;&nbsp; 2247761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM10, Class A1, 5.45%, 5/25/2065 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 5425801 | &nbsp;&nbsp;&nbsp;&nbsp; 5483392 |
| &nbsp;&nbsp;&nbsp; Onity Loan Investment Trust Series 2025-HB1, Class A, 3.00%, 6/25/2038 ‡ (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1669955 | &nbsp;&nbsp;&nbsp;&nbsp; 1634598 |
| &nbsp;&nbsp;&nbsp; PRET Trust Series 2024-RPL2, Class A1, 4.07%, 6/25/2064 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1754231 | &nbsp;&nbsp;&nbsp;&nbsp; 1696229 |
| &nbsp;&nbsp;&nbsp; Prime Mortgage Trust Series 2005-2, Class 2A1, 5.48%, 10/25/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 130282 | &nbsp;&nbsp;&nbsp;&nbsp; 130408 |
| &nbsp;&nbsp;&nbsp; PRPM LLC Series 2025-RPL2, Class A1, 3.75%, 4/25/2055 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 4520486 | &nbsp;&nbsp;&nbsp;&nbsp; 4415093 |
| &nbsp;&nbsp;&nbsp; RFMSI Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-SA2, Class 2A2, 5.89%, 6/25/2035 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 201902 | &nbsp;&nbsp;&nbsp;&nbsp; 191911 |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** | **Collateralized Mortgage Obligations — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-SA4, Class 2A1, 5.43%, 11/25/2036 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 105366 | &nbsp;&nbsp;&nbsp;&nbsp; 88714 |
| &nbsp;&nbsp;&nbsp; Roc Mortgage Trust Series 2025-RTL1, Class A1, 5.63%, 2/25/2040 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1004729 |
| &nbsp;&nbsp;&nbsp; Seasoned Credit Risk Transfer Trust Series 2025-1, Class MAU, 3.25%, 11/25/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 3283471 | &nbsp;&nbsp;&nbsp;&nbsp; 3063044 |
| &nbsp;&nbsp;&nbsp; Seasoned Loans Structured Transaction Trust Series 2024-2, Class VF, 5.32%, 10/25/2034 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 8285192 | &nbsp;&nbsp;&nbsp;&nbsp; 8401928 |
| &nbsp;&nbsp;&nbsp; Sequoia Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 11, Class A, 4.97%, 12/20/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4752 | &nbsp;&nbsp;&nbsp;&nbsp; 4167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-3, Class A2, 5.37%, 7/20/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 26411 | &nbsp;&nbsp;&nbsp;&nbsp; 24364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-11, Class A2, 4.87%, 12/20/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 144759 | &nbsp;&nbsp;&nbsp;&nbsp; 138364 |
| &nbsp;&nbsp;&nbsp; Structured Asset Mortgage Investments II Trust Series 2004-AR1, Class 1A1, 4.77%, 3/19/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 17242 | &nbsp;&nbsp;&nbsp;&nbsp; 16364 |
| &nbsp;&nbsp;&nbsp; Structured Asset Mortgage Investments Trust Series 2002-AR2, Class A3, 4.82%, 7/19/2032 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 85082 | &nbsp;&nbsp;&nbsp;&nbsp; 50222 |
| &nbsp;&nbsp;&nbsp; Structured Asset Securities Corp. Mortgage Pass-Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-24A, Class 2A, 5.88%, 7/25/2033 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 210880 | &nbsp;&nbsp;&nbsp;&nbsp; 206792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2003-40A, Class 4A, 6.62%, 1/25/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 47818 | &nbsp;&nbsp;&nbsp;&nbsp; 46603 |
| &nbsp;&nbsp;&nbsp; Thornburg Mortgage Securities Trust Series 2004-4, Class 5A, 2.32%, 12/25/2044 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 999194 | &nbsp;&nbsp;&nbsp;&nbsp; 882965 |
| &nbsp;&nbsp;&nbsp; Toorak Mortgage Trust Series 2025-RRTL1, Class A1, 5.52%, 2/25/2040 (a) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp;&nbsp; 1056888 |
| &nbsp;&nbsp;&nbsp; Towd Point Mortgage Trust Series 2018-4, Class A1, 3.00%, 6/25/2058 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2225628 | &nbsp;&nbsp;&nbsp;&nbsp; 2124438 |
| &nbsp;&nbsp;&nbsp; WaMu Mortgage Pass-Through Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR3, Class A1, 5.37%, 6/25/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 180821 | &nbsp;&nbsp;&nbsp;&nbsp; 173376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR11, Class A, 5.98%, 10/25/2034 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 84091 | &nbsp;&nbsp;&nbsp;&nbsp; 82177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Collateralized Mortgage Obligations <br>(Cost $600,906,215)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 599148098 |
| **Mortgage-Backed Securities — 13.5%** | **Mortgage-Backed Securities — 13.5%** | **Mortgage-Backed Securities — 13.5%** |
| &nbsp;&nbsp;&nbsp; FHLMC Gold Pools, Other Pool # U49009, 3.00%, 8/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 330611 | &nbsp;&nbsp;&nbsp;&nbsp; 326744 |
| &nbsp;&nbsp;&nbsp; FHLMC UMBS, 30 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA2459, 4.00%, 4/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 4359087 | &nbsp;&nbsp;&nbsp;&nbsp; 4170771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA2970, 2.50%, 7/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 4474857 | &nbsp;&nbsp;&nbsp;&nbsp; 3841275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD1787, 5.00%, 10/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 2765638 | &nbsp;&nbsp;&nbsp;&nbsp; 2831651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8277, 5.50%, 12/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 3804102 | &nbsp;&nbsp;&nbsp;&nbsp; 3874640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD8290, 6.00%, 1/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 10641827 | &nbsp;&nbsp;&nbsp;&nbsp; 10942794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QF9638, 5.00%, 3/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 6929069 | &nbsp;&nbsp;&nbsp;&nbsp; 6967670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD3159, 5.00%, 6/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 20034126 | &nbsp;&nbsp;&nbsp;&nbsp; 20136198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RA9453, 6.00%, 7/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 22445042 | &nbsp;&nbsp;&nbsp;&nbsp; 23157235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QH2154, 5.50%, 9/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 16801356 | &nbsp;&nbsp;&nbsp;&nbsp; 17145101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SL0596, 6.00%, 9/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 13572641 | &nbsp;&nbsp;&nbsp;&nbsp; 14106086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QI4073, 5.50%, 4/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 3128273 | &nbsp;&nbsp;&nbsp;&nbsp; 3172252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD6317, 5.50%, 5/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 9509316 | &nbsp;&nbsp;&nbsp;&nbsp; 9700947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD7572, 6.50%, 5/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 18962409 | &nbsp;&nbsp;&nbsp;&nbsp; 19892218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD5658, 5.50%, 6/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 5055283 | &nbsp;&nbsp;&nbsp;&nbsp; 5157161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # RJ1658, 6.00%, 6/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 5064163 | &nbsp;&nbsp;&nbsp;&nbsp; 5203778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # SD6799, 6.00%, 10/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 12108985 | &nbsp;&nbsp;&nbsp;&nbsp; 12543862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # QX8822, 6.00%, 3/1/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 9509220 | &nbsp;&nbsp;&nbsp;&nbsp; 9772241 |
| &nbsp;&nbsp;&nbsp; FNMA UMBS, 20 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA1338, 3.00%, 2/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 565173 | &nbsp;&nbsp;&nbsp;&nbsp; 547293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA1401, 3.00%, 4/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 220975 | &nbsp;&nbsp;&nbsp;&nbsp; 213530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA1490, 3.00%, 7/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 738748 | &nbsp;&nbsp;&nbsp;&nbsp; 716536 |
| &nbsp;&nbsp;&nbsp; FNMA UMBS, 30 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # 995724, 6.00%, 4/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 110185 | &nbsp;&nbsp;&nbsp;&nbsp; 116362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AD0588, 5.00%, 12/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 495526 | &nbsp;&nbsp;&nbsp;&nbsp; 510522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AD9721, 5.50%, 8/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 154889 | &nbsp;&nbsp;&nbsp;&nbsp; 158018 |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** | **Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM3048, 4.00%, 10/1/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 2427718 | &nbsp;&nbsp;&nbsp;&nbsp; 2392695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # AS4592, 4.00%, 2/1/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 4707245 | &nbsp;&nbsp;&nbsp;&nbsp; 4577717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BM5560, 4.00%, 1/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 2660768 | &nbsp;&nbsp;&nbsp;&nbsp; 2615282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA0411, 4.00%, 9/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 2717250 | &nbsp;&nbsp;&nbsp;&nbsp; 2659540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CA2489, 4.50%, 10/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 485781 | &nbsp;&nbsp;&nbsp;&nbsp; 483639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BP7345, 3.00%, 6/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 5611834 | &nbsp;&nbsp;&nbsp;&nbsp; 5035896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BQ7436, 3.00%, 9/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 3430098 | &nbsp;&nbsp;&nbsp;&nbsp; 3058531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BQ7454, 3.00%, 12/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 5094143 | &nbsp;&nbsp;&nbsp;&nbsp; 4547056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FS2898, 4.50%, 9/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 4380101 | &nbsp;&nbsp;&nbsp;&nbsp; 4335200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB4630, 5.50%, 9/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 6103181 | &nbsp;&nbsp;&nbsp;&nbsp; 6277878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FS3051, 5.00%, 10/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 2864863 | &nbsp;&nbsp;&nbsp;&nbsp; 2943477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB4839, 5.50%, 10/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 2765057 | &nbsp;&nbsp;&nbsp;&nbsp; 2818763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB5027, 5.50%, 11/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 5745609 | &nbsp;&nbsp;&nbsp;&nbsp; 5856275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4842, 5.50%, 12/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 3831736 | &nbsp;&nbsp;&nbsp;&nbsp; 3902393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MA4894, 6.00%, 1/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 21023285 | &nbsp;&nbsp;&nbsp;&nbsp; 21571742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FA0711, 5.50%, 6/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 10160027 | &nbsp;&nbsp;&nbsp;&nbsp; 10390514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB8709, 6.00%, 6/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 4623731 | &nbsp;&nbsp;&nbsp;&nbsp; 4750618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BU5096, 6.00%, 9/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 4368436 | &nbsp;&nbsp;&nbsp;&nbsp; 4526181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CB9991, 6.00%, 2/1/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 13882875 | &nbsp;&nbsp;&nbsp;&nbsp; 14420314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FA1254, 5.50%, 3/1/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 28540201 | &nbsp;&nbsp;&nbsp;&nbsp; 29187690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # FA1866, 5.50%, 6/1/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 19109680 | &nbsp;&nbsp;&nbsp;&nbsp; 19369090 |
| &nbsp;&nbsp;&nbsp; FNMA, Other  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BZ3803, 4.46%, 5/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 27196246 | &nbsp;&nbsp;&nbsp;&nbsp; 27703111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BL7458, 1.25%, 7/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8843981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BK7908, 4.00%, 11/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 222499 | &nbsp;&nbsp;&nbsp;&nbsp; 211579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # BF0769, 4.50%, 9/1/2063 | &nbsp;&nbsp;&nbsp;&nbsp; 4621889 | &nbsp;&nbsp;&nbsp;&nbsp; 4535597 |
| &nbsp;&nbsp;&nbsp; GNMA II, 30 Year  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # CG5224, 3.50%, 8/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 8078133 | &nbsp;&nbsp;&nbsp;&nbsp; 7310924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool # MB0367, 6.00%, 5/20/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 26413329 | &nbsp;&nbsp;&nbsp;&nbsp; 26953505 |
| &nbsp;&nbsp;&nbsp; GNMA II, Other Pool # 787496, 6.00%, 7/20/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 2185409 | &nbsp;&nbsp;&nbsp;&nbsp; 2230072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Mortgage-Backed Securities <br>(Cost $410,683,573)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 408714145 |
| **Corporate Bonds — 7.8%** | **Corporate Bonds — 7.8%** | **Corporate Bonds — 7.8%** |
| **Banks — 3.9%** | **Banks — 3.9%** | **Banks — 3.9%** |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. (SOFR + 1.11%), 4.62%, 5/9/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 13285000 | &nbsp;&nbsp;&nbsp;&nbsp; 13466274 |
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia (The) (Canada) (SOFR + 0.76%), 4.04%, 9/15/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 11065000 | &nbsp;&nbsp;&nbsp;&nbsp; 11050570 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA (France) (SOFR + 1.52%), 5.18%, 1/9/2030 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10265874 |
| &nbsp;&nbsp;&nbsp; BPCE SA (France) (SOFR + 1.58%), 5.39%, 5/28/2031 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 6050000 | &nbsp;&nbsp;&nbsp;&nbsp; 6236099 |
| &nbsp;&nbsp;&nbsp; CaixaBank SA (Spain) (SOFR + 1.14%), 4.63%, 7/3/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 7195000 | &nbsp;&nbsp;&nbsp;&nbsp; 7268295 |
| &nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce (Canada) (SOFRINDX + 0.60%), 4.24%, 9/8/2028 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4435000 | &nbsp;&nbsp;&nbsp;&nbsp; 4445963 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. (SOFR + 0.87%), 4.79%, 3/4/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 16980000 | &nbsp;&nbsp;&nbsp;&nbsp; 17220037 |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA (France) (SOFR + 1.13%), 5.23%, 1/9/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10204221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.83%), <br> 4.82%, 6/13/2029 (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10160106 |
| &nbsp;&nbsp;&nbsp; NatWest Markets plc (United Kingdom) 5.41%, 5/17/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10414192 |
| &nbsp;&nbsp;&nbsp; Santander UK Group Holdings plc (United Kingdom) (SOFRINDX + 1.07%), 4.32%, 9/22/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 4405000 | &nbsp;&nbsp;&nbsp;&nbsp; 4409853 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. (SOFR + 0.88%), 4.08%, 9/15/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 12460000 | &nbsp;&nbsp;&nbsp;&nbsp; 12455474 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 117596958 |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Corporate Bonds — continued** | **Corporate Bonds — continued** | **Corporate Bonds — continued** |
| **Capital Markets — 1.5%** | **Capital Markets — 1.5%** | **Capital Markets — 1.5%** |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG (Germany) (SOFR + 1.21%), 5.28%, 1/10/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5025411 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The)  | &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The)  | &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. (The)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.90%), 4.15%, 10/21/2029 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 10345000 | &nbsp;&nbsp;&nbsp;&nbsp; 10352456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.08%), 5.15%, 1/28/2031 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5013353 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (SOFR + 1.45%), 5.17%, 1/16/2030 (d) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10292831 |
| &nbsp;&nbsp;&nbsp; UBS Group AG (Switzerland) (SOFR + 0.84%), 4.15%, 12/23/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 13490000 | &nbsp;&nbsp;&nbsp;&nbsp; 13488232 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 44172283 |
| **Consumer Finance — 0.4%** | **Consumer Finance — 0.4%** | **Consumer Finance — 0.4%** |
| &nbsp;&nbsp;&nbsp; American Honda Finance Corp. 4.25%, 9/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 7730000 | &nbsp;&nbsp;&nbsp;&nbsp; 7771612 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding Ltd. (Ireland) 4.90%, 10/10/2030 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3750000 | &nbsp;&nbsp;&nbsp;&nbsp; 3774525 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11546137 |
| **Electric Utilities — 0.2%** | **Electric Utilities — 0.2%** | **Electric Utilities — 0.2%** |
| &nbsp;&nbsp;&nbsp; Enel Finance International NV (Italy) 4.13%, 9/30/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2775000 | &nbsp;&nbsp;&nbsp;&nbsp; 2777009 |
| &nbsp;&nbsp;&nbsp; FirstEnergy Transmission LLC 4.55%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4050661 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6827670 |
| **Financial Services — 0.9%** | **Financial Services — 0.9%** | **Financial Services — 0.9%** |
| &nbsp;&nbsp;&nbsp; CFIN 2022-RTL1 Issuer LLC Class A, 0.00%, 8/17/2027 ‡ | &nbsp;&nbsp;&nbsp;&nbsp; 1963432 | &nbsp;&nbsp;&nbsp;&nbsp; 1963432 |
| &nbsp;&nbsp;&nbsp; Goodleap LLC Class A, 0.00%, 7/15/2038 ‡ | &nbsp;&nbsp;&nbsp;&nbsp; 2528815 | &nbsp;&nbsp;&nbsp;&nbsp; 2621080 |
| &nbsp;&nbsp;&nbsp; Nationwide Building Society (United Kingdom) | &nbsp;&nbsp;&nbsp; Nationwide Building Society (United Kingdom) | &nbsp;&nbsp;&nbsp; Nationwide Building Society (United Kingdom) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.06%), 4.65%, 7/14/2029 (a) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10102668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 7/29/2029 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10318742 |
| &nbsp;&nbsp;&nbsp; Street Capital Group, Inc. (Canada) 0.00%, 2/15/2030 ‡ | &nbsp;&nbsp;&nbsp;&nbsp; 1205411 | &nbsp;&nbsp;&nbsp;&nbsp; 1205411 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 26211333 |
| **Insurance — 0.8%** | **Insurance — 0.8%** | **Insurance — 0.8%** |
| &nbsp;&nbsp;&nbsp; CNO Global Funding 4.38%, 9/8/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8920000 | &nbsp;&nbsp;&nbsp;&nbsp; 8944123 |
| &nbsp;&nbsp;&nbsp; F&G Global Funding 4.65%, 9/8/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5705000 | &nbsp;&nbsp;&nbsp;&nbsp; 5722993 |
| &nbsp;&nbsp;&nbsp; Mutual of Omaha Cos. Global Funding 4.51%, 6/9/2028 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10119790 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 24786906 |
| **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp; Marvell Technology, Inc. 4.75%, 7/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4110000 | &nbsp;&nbsp;&nbsp;&nbsp; 4171084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Corporate Bonds <br>(Cost $233,483,700)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 235312371 |
| **Commercial Mortgage-Backed Securities — 6.9%** | **Commercial Mortgage-Backed Securities — 6.9%** | **Commercial Mortgage-Backed Securities — 6.9%** |
| &nbsp;&nbsp;&nbsp; 20 Times Square Trust Series 2018-20TS, Class A, 3.20%, 5/15/2035 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1006928 | &nbsp;&nbsp;&nbsp;&nbsp; 966651 |
| &nbsp;&nbsp;&nbsp; ARES Trust Series 2025-IND3, Class A, 5.46%, 4/15/2042 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5001559 |
| &nbsp;&nbsp;&nbsp; BANK Series 2021-BN35, Class A2, 1.87%, 6/15/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 2650000 | &nbsp;&nbsp;&nbsp;&nbsp; 2534163 |
| &nbsp;&nbsp;&nbsp; Bayview Commercial Asset Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2A, Class A2, 4.59%, 8/25/2035 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 276494 | &nbsp;&nbsp;&nbsp;&nbsp; 269148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2A, Class M1, 4.71%, 8/25/2035 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 55222 | &nbsp;&nbsp;&nbsp;&nbsp; 53493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3, Class A2, 4.50%, 7/25/2037 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 253924 | &nbsp;&nbsp;&nbsp;&nbsp; 241992 |
| &nbsp;&nbsp;&nbsp; BBCMS Mortgage Trust Series 2020-C7, Class A2, 2.02%, 4/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 908696 | &nbsp;&nbsp;&nbsp;&nbsp; 865252 |
| &nbsp;&nbsp;&nbsp; BBCMS Trust Series 2015-VFM, Class A1, 2.47%, 3/10/2036 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 107818 | &nbsp;&nbsp;&nbsp;&nbsp; 107225 |
| &nbsp;&nbsp;&nbsp; BOFAS Re-REMIC Trust Series 2025-FRR6, Class A, 1.26%, 11/27/2051 ‡ (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5187000 | &nbsp;&nbsp;&nbsp;&nbsp; 4625404 |
| &nbsp;&nbsp;&nbsp; BX Series 2024-PALM, Class A, 5.50%, 6/15/2037 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4326923 | &nbsp;&nbsp;&nbsp;&nbsp; 4329622 |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** | **Commercial Mortgage-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BXMF, Class A, 4.71%, 10/15/2026 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5729806 | &nbsp;&nbsp;&nbsp;&nbsp; 5715608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-LBA, Class AJV, 4.87%, 2/15/2036 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 6500000 | &nbsp;&nbsp;&nbsp;&nbsp; 6492011 |
| &nbsp;&nbsp;&nbsp; COMM Mortgage Trust Series 2024-CBM, Class A1, 5.85%, 12/10/2041 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3400600 | &nbsp;&nbsp;&nbsp;&nbsp; 3447396 |
| &nbsp;&nbsp;&nbsp; CSTL Commercial Mortgage Trust Series 2025-GATE2, Class B, 4.85%, 11/10/2042 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3400000 | &nbsp;&nbsp;&nbsp;&nbsp; 3400191 |
| &nbsp;&nbsp;&nbsp; DLIC Re-REMIC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-FRR1, Class AK57, 1.49%, 8/27/2049 ‡ (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9700959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-FRR1, Class BK57, 1.52%, 8/27/2049 ‡ (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5800593 |
| &nbsp;&nbsp;&nbsp; ELP Commercial Mortgage Trust Series 2025-ELP, Class B, 4.85%, 11/13/2042 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3013177 |
| &nbsp;&nbsp;&nbsp; FHLMC Series 2025-MN11, Class M1, 5.72%, 7/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 7816543 | &nbsp;&nbsp;&nbsp;&nbsp; 7808422 |
| &nbsp;&nbsp;&nbsp; FHLMC MSCR Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-MN12, Class M1, 5.83%, 11/25/2045 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 7145000 | &nbsp;&nbsp;&nbsp;&nbsp; 7145043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MN1, Class M1, 6.07%, 1/25/2051 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 63037 | &nbsp;&nbsp;&nbsp;&nbsp; 62889 |
| &nbsp;&nbsp;&nbsp; FHLMC, Multi-Family Structured Pass-Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series Q007, Class APT2, 6.44%, 10/25/2047 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 565217 | &nbsp;&nbsp;&nbsp;&nbsp; 565882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series Q013, Class APT1, 6.32%, 5/25/2050 (b) | &nbsp;&nbsp;&nbsp;&nbsp; 879361 | &nbsp;&nbsp;&nbsp;&nbsp; 880013 |
| &nbsp;&nbsp;&nbsp; FREMF Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-K736, Class C, 3.86%, 7/25/2026 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1981733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-K82, Class C, 4.27%, 9/25/2028 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2966116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-K68, Class B, 3.97%, 10/25/2049 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1975601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-K70, Class C, 3.94%, 12/25/2049 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1726394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-K64, Class B, 4.14%, 5/25/2050 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4961907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-K64, Class C, 4.14%, 5/25/2050 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3285000 | &nbsp;&nbsp;&nbsp;&nbsp; 3255846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-K89, Class C, 4.44%, 1/25/2051 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9905904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-K97, Class C, 3.90%, 9/25/2051 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 7845000 | &nbsp;&nbsp;&nbsp;&nbsp; 7583974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-K81, Class C, 4.32%, 9/25/2051 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 10682000 | &nbsp;&nbsp;&nbsp;&nbsp; 10548018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-K83, Class C, 4.42%, 11/25/2051 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6939060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-K104, Class B, 3.65%, 2/25/2052 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 967243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-K93, Class C, 4.26%, 5/25/2052 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6885342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-K92, Class C, 4.34%, 5/25/2052 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 8583000 | &nbsp;&nbsp;&nbsp;&nbsp; 8467987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-K94, Class C, 4.10%, 7/25/2052 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 978195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-K100, Class B, 3.61%, 11/25/2052 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4688000 | &nbsp;&nbsp;&nbsp;&nbsp; 4516995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-K105, Class C, 3.53%, 3/25/2053 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2864434 |
| &nbsp;&nbsp;&nbsp; OAKST Commercial Mortgage Trust Series 2023-NLP, Class A, 6.30%, 3/15/2040 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1999394 |
| &nbsp;&nbsp;&nbsp; One Bryant Park Trust Series 2019-OBP, Class A, 2.52%, 9/15/2054 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4642473 |
| &nbsp;&nbsp;&nbsp; ONE Mortgage Trust Series 2021-PARK, Class A, 4.77%, 3/15/2036 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6881477 |
| &nbsp;&nbsp;&nbsp; PRM7 Trust Series 2025-PRM7, Class A, 4.51%, 11/10/2042 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5855000 | &nbsp;&nbsp;&nbsp;&nbsp; 5795031 |
| &nbsp;&nbsp;&nbsp; RFM Re-REMIC Trust Series 2022-FRR1, Class AB60, 2.33%, 11/8/2049 ‡ (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3865888 |
| &nbsp;&nbsp;&nbsp; ROCK Trust Series 2024-CNTR, Class A, 5.39%, 11/13/2041 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2380000 | &nbsp;&nbsp;&nbsp;&nbsp; 2454687 |
| &nbsp;&nbsp;&nbsp; RWC Commercial Mortgage Trust Series 2025-1, Class A, 5.01%, 6/25/2040 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3825000 | &nbsp;&nbsp;&nbsp;&nbsp; 3835769 |
| &nbsp;&nbsp;&nbsp; SCG Trust Series 2025-SNIP, Class A, 5.46%, 9/15/2042 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10017329 |
| &nbsp;&nbsp;&nbsp; SDR Commercial Mortgage Trust Series 2024-DSNY, Class A, 5.35%, 5/15/2039 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5000898 |
| &nbsp;&nbsp;&nbsp; SMR Mortgage Trust Series 2022-IND, Class A, 5.61%, 2/15/2039 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 7325417 | &nbsp;&nbsp;&nbsp;&nbsp; 7324941 |
| &nbsp;&nbsp;&nbsp; SMRT Series 2022-MINI, Class A, 4.96%, 1/15/2039 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4992222 |
| &nbsp;&nbsp;&nbsp; STWD Mortgage Trust (Cayman Islands) Series 2021-LIH, Class B, 5.73%, 11/15/2036 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2300000 | &nbsp;&nbsp;&nbsp;&nbsp; 2294278 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust Series 2021-SAVE, Class A, 5.32%, 2/15/2040 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 872769 | &nbsp;&nbsp;&nbsp;&nbsp; 873544 |
| &nbsp;&nbsp;&nbsp; WHARF Commercial Mortgage Trust Series 2025-DC, Class A, 5.53%, 7/15/2040 (a) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1175000 | &nbsp;&nbsp;&nbsp;&nbsp; 1215923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Commercial Mortgage-Backed Securities <br>(Cost $210,429,968)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 210745296 |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **PRINCIPAL**<br> **AMOUNT($)**<br>| **VALUE($)** |
| **U.S. Treasury Obligations — 5.3%** | **U.S. Treasury Obligations — 5.3%** | **U.S. Treasury Obligations — 5.3%** |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 6/30/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 73055000 | &nbsp;&nbsp;&nbsp;&nbsp; 73277590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 8/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 88300000 | &nbsp;&nbsp;&nbsp;&nbsp; 88441418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury Obligations <br>(Cost $161,201,065)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 161719008 |
|  | **SHARES** |  |
| **Short-Term Investments — 1.2%** | **Short-Term Investments — 1.2%** | **Short-Term Investments — 1.2%** |
| **Investment Companies — 1.0%** | **Investment Companies — 1.0%** | **Investment Companies — 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund Class IM Shares, 4.06% (e) (f) <br>(Cost $30,204,999)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 30195171 | &nbsp;&nbsp;&nbsp;&nbsp; 30207249 |
|  | &nbsp;&nbsp;&nbsp; **PRINCIPAL** <br>**AMOUNT($)**<br>|  |
| **U.S. Treasury Obligations — 0.2%** | **U.S. Treasury Obligations — 0.2%** | **U.S. Treasury Obligations — 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bills, 3.86%, 1/20/2026 (g) <br>(Cost $4,973,507)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4973582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $35,178,506)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 35180831 |
| **Total Investments — 99.6%** <br>**(Cost $3,018,844,432)**<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; **3023743297** |
| **Other Assets in Excess of Liabilities — 0.4%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **11888867** |
| **NET ASSETS — 100.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **3035632164** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages indicated are based on net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Abbreviations** |  |
| ABS | Asset-Backed Securities |
| CLO | Collateralized Loan Obligations |
| FHLMC | Federal Home Loan Mortgage Corp. |
| FNMA | Federal National Mortgage Association |
| GNMA | Government National Mortgage Association |
| IF | Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index or have an interest <br> rate that adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the <br> rate in effect as of November 30, 2025. The rate may be subject to a cap and floor.<br>|
| IO | Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown <br> represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or <br> refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably.<br>|
| PO | Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is <br> extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on <br> these securities increases.<br>|
| REMIC | Real Estate Mortgage Investment Conduit |
| Re-REMIC | Combined Real Estate Mortgage Investment Conduit |
| SOFR | Secured Overnight Financing Rate |
| SOFRINDX | Compounding index of the Secured Overnight Financing Rate |
| STRIPS | Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal <br> components of eligible notes and bonds as separate securities.<br>|
| UMBS | Uniform Mortgage-Backed Securities |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;‡ Value determined using significant unobservable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities
 Act of 1933, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Variable or floating rate security, the interest rate of which adjusts periodically
 based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of November
 30, 2025.

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Step bond. Interest rate is a fixed rate for an initial period that either resets
 at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of November 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Variable or floating rate security, linked to the referenced benchmark. The interest
 rate shown is the current rate as of November 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Investment in an affiliated fund, which is registered under the Investment Company
 Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The rate shown is the current yield as of November 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The rate shown is the effective yield as of November 30, 2025.

**Futures contracts outstanding as of November 30, 2025:**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **DESCRIPTION** | &nbsp;&nbsp;&nbsp; **NUMBER OF** <br>**CONTRACTS**<br>| **EXPIRATION DATE** | **TRADING CURRENCY** | &nbsp;&nbsp;&nbsp; **NOTIONAL** <br>**AMOUNT ($)**<br>| &nbsp;&nbsp;&nbsp; **VALUE AND** <br>**UNREALIZED** <br>**APPRECIATION** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(DEPRECIATION) ($)**<br>|
| **Long Contracts** |  |  |  |  |  |
| U.S. Treasury 2 Year Note | &nbsp;&nbsp;&nbsp;&nbsp; 3007 | &nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 628040144 | &nbsp;&nbsp;&nbsp;&nbsp; (50058)<br>|
| **Short Contracts** |  |  |  |  |  |
| U.S. Treasury 10 Year Note | &nbsp;&nbsp;&nbsp;&nbsp; (456)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; (51684750)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (109293)<br>|
| U.S. Treasury 10 Year Ultra Note | &nbsp;&nbsp;&nbsp;&nbsp; (374)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; (43454125)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (173496)<br>|
| U.S. Treasury Long Bond | &nbsp;&nbsp;&nbsp;&nbsp; (67)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; (7868313)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (61355)<br>|
| U.S. Treasury 5 Year Note | &nbsp;&nbsp;&nbsp;&nbsp; (1391)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; (152683984)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (193865)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; (538009)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; (588067)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Abbreviations** |  |
| USD | United States Dollar |

---

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**A. Valuation of Investments**— Investments are valued in accordance with U.S. generally accepted accounting principles ("GAAP") and the Fund's valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the "Board"), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under Securities and Exchange Commission Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the "Valuation Designee" to perform fair valuation determinations for the Fund on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee ("AVC") to help oversee and carry out the policies for the valuation of investments held in the Fund. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.

This oversight by the AVC includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.

A market-based approach is primarily used to value the Fund's investments. Investments for which market quotations are not readily available are fair valued using prices supplied by approved affiliated and/or unaffiliated pricing vendors or third party broker-dealers (collectively referred to as "Pricing Services"), or may be internally fair valued using methods set forth by the valuation policies approved by the Board. This may include the use of related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information for the investment. An income-based valuation approach may be used in which the anticipated future cash flows of the investment are discounted to calculate the fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may be based upon current market prices of securities that are comparable in coupon, rating, maturity and industry. It is possible that the estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and such differences could be material.

Fixed income instruments are valued based on prices received from Pricing Services. The Pricing Services use multiple valuation techniques to determine the valuation of fixed income instruments. In instances where sufficient market activity exists, the Pricing Services may utilize a market-based approach through which trades or quotes from market makers are used to determine the valuation of these instruments. In instances where sufficient market activity may not exist, the Pricing Services also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or market characteristics in order to estimate the relevant cash flows, which are then discounted to calculate the fair values.

Investments in open-end investment companies ("Underlying Funds") are valued at each Underlying Fund's net asset values per share as of the report date.

Futures contracts are generally valued on the basis of available market quotations.

See the table on "Quantitative Information about Level 3 Fair Value Measurements" for information on the valuation techniques and inputs used to value level 3 securities held by the Fund at November 30, 2025.

Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.

The various inputs that are used in determining the valuation of the Fund's investments are summarized into the three broad levels listed below.

• Level 1 — Unadjusted inputs using quoted prices in active markets for identical investments.

• Level 2 — Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.

• Level 3 — Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund's assumptions in determining the fair value of investments).

A financial instrument's level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

The following table represents each valuation input as presented on the Schedule of Portfolio Investments:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1** <br>Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2** <br>Other significant <br>observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3** <br>Significant <br>unobservable inputs<br>| **Total** |
| **Investments in Securities** |  |  |  |  |
| Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1339580815 | &nbsp;&nbsp;&nbsp;&nbsp; $33342733 | &nbsp;&nbsp;&nbsp;&nbsp; $1372923548 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 589487962 | &nbsp;&nbsp;&nbsp;&nbsp; 9660136 | &nbsp;&nbsp;&nbsp;&nbsp; 599148098 |
| Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 186752452 | &nbsp;&nbsp;&nbsp;&nbsp; 23992844 | &nbsp;&nbsp;&nbsp;&nbsp; 210745296 |
| Corporate Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 117596958 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 117596958 |
| &nbsp;&nbsp;&nbsp; Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 44172283 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 44172283 |
| &nbsp;&nbsp;&nbsp; Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11546137 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11546137 |
| &nbsp;&nbsp;&nbsp; Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6827670 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6827670 |
| &nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20421410 | &nbsp;&nbsp;&nbsp;&nbsp; 5789923 | &nbsp;&nbsp;&nbsp;&nbsp; 26211333 |
| &nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 24786906 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 24786906 |
| &nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4171084 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4171084 |
| &nbsp;&nbsp;&nbsp; Total Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 229522448 | &nbsp;&nbsp;&nbsp;&nbsp; 5789923 | &nbsp;&nbsp;&nbsp;&nbsp; 235312371 |
| Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 408714145 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 408714145 |
| U.S. Treasury Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 161719008 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 161719008 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 30207249 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 30207249 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4973582 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4973582 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp; 30207249 | &nbsp;&nbsp;&nbsp;&nbsp; 4973582 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 35180831 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; $30207249 | &nbsp;&nbsp;&nbsp;&nbsp; $2920750412 | &nbsp;&nbsp;&nbsp;&nbsp; $72785636 | &nbsp;&nbsp;&nbsp;&nbsp; $3023743297 |
| **Depreciation in Other Financial Instruments** |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; $(588067)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(588067)<br>|

---

The following is a summary of investments for which significant unobservable inputs (level 3) were used in determining fair value:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Balance as of** <br>**February 28,** <br>**2025**<br>| **Realized** <br>**gain (loss)**<br>| **Change in net** <br>**unrealized** <br>**appreciation** <br>**(depreciation)**<br>| **Net** <br>**accretion** <br>**(amortization)**<br>| **Purchases**<sup>1</sup> <br>| **Sales**<sup>2</sup> <br>| **Transfers** <br>**into** <br>**Level 3**<br>| **Transfers** <br>**out of** <br>**Level 3**<br>| **Balance as of** <br>**November 30,** <br>**2025**<br>|
| **Investments in Securities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | $16929953 | $— | $263891 | $5380 | $19001429 | $(2857920)<br>| $— | $— | $33342733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Mortgage <br> Obligations<br>| 2590334 |  | (17147)<br>| 3659 | 9844125 | (1759799)<br>|  | (1001036)<br>| 9660136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial <br> Mortgage-Backed <br> Securities<br>|  |  | 131452 | 6692 | 23854700 |  |  |  | 23992844 |
| &nbsp;&nbsp;&nbsp; Corporate Bonds |  |  | 16392 | (1888)<br>| 6056926 | (281507)<br>|  |  | 5789923 |
| **Total** | $19520287 | $— | $394588 | $13843 | $58757180 | $(4899226)<br>| $— | $(1001036)<br>| $72785636 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>1</sup> Purchases include all purchases of securities and securities received in corporate actions.

<sup>2</sup> Sales include all sales of securities, maturities, paydowns and securities tendered in corporate actions.

The changes in net unrealized appreciation (depreciation) attributable to securities owned at November 30, 2025, which were valued using significant unobservable inputs (level 3) amounted to $394,588.

There were no significant transfers into or out of level 3 for the period ended November 30, 2025.

The significant unobservable inputs used in the fair value measurement of the Fund's investments are listed below. Generally, a change in the assumptions used in any input in isolation may be accompanied by a change in another input. Significant changes in any of the unobservable inputs may significantly impact the fair value measurement. The impact is based on the relationship between each unobservable input and the

------

**JPMorgan Limited Duration Bond ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF November 30, 2025 (Unaudited) (continued)

fair value measurement. Significant increases (decreases) in enterprise multiples may increase (decrease) the fair value measurement. Significant increases (decreases) in the discount for lack of marketability, liquidity discount, probability of default, yield and default rate may decrease (increase) the fair value measurement. A significant change in the discount rate or prepayment rate (Constant Prepayment Rate or PSA Prepayment Model) may decrease or increase the fair value measurement.

**Quantitative Information about Level 3 Fair Value Measurements #** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Fair Value at**<br> **November 30, 2025**<br>| &nbsp;&nbsp; **Valuation**<br> **Technique(s)**<br>| &nbsp;&nbsp; **Unobservable**<br> **Input**<br>| &nbsp;&nbsp; **Range (Weighted**<br> **Average) (a)**<br>|
|  | &nbsp;&nbsp; $17026072 | Discounted Cash Flow | Constant Prepayment Rate | 0.00% - 8.00% (1.64%) |
|  |  |  | Yield (Discount Rate of Cash Flows) | 4.85% - 6.50% (5.33%) |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; 17026072 |  |  |  |
|  | &nbsp;&nbsp; 3865888 | Discounted Cash Flow | Constant Prepayment Rate | 35.75% - 100.00% (78.25%) |
|  |  |  | Yield (Discount Rate of Cash Flows) | 5.04% - 5.23% (5.16%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Mortgage <br> Obligations<br>| &nbsp;&nbsp; 3865888 |  |  |  |
|  | &nbsp;&nbsp; 4829016 | Discounted Cash Flow | Yield (Discount Rate of Cash Flows) | 5.71% (5.71%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Mortgage-Backed <br> Securities<br>| &nbsp;&nbsp; 4829016 |  |  |  |
| &nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; $25720976 |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

# The table above does not include certain level 3 investments that are valued by brokers and Pricing Services. At November 30, 2025, the value of these investments was $47,064,660. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note A. 

(a) Unobservable inputs were weighted by the relative fair value of the instruments.

**B. Investment Transactions with Affiliates**— The Fund invested in an Underlying Fund advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuer listed in the table below to be an affiliated issuer. The Underlying Fund's distributions may be reinvested into such Underlying Fund. Reinvestment amounts are included in the purchases at cost amounts in the table below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** | **For the period ended November 30, 2025** |
| **Security Description** | **Value at** <br>**February 28,** <br>**2025**<br>| **Purchases at** <br>**Cost**<br>| **Proceeds from** <br>**Sales**<br>| **Net Realized** <br>**Gain (Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value at** <br>**November 30,** <br>**2025**<br>| **Shares at** <br>**November 30,** <br>**2025**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money <br> Market Fund Class IM <br> Shares, 4.06% (a) (b)<br>| $78487741 | $1586805899 | $1635105397 | $30910 | $(11904)<br>| $30207249 | 30195171 | $2578189 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

 <br> (a) Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. <br> (b) The rate shown is the current yield as of November 30, 2025.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** J.P. Morgan Exchange-Traded Fund Trust

- **b. Investment Company Act file number:** 811-22903

- **c. CIK number of Registrant:** 0001485894

- **d. LEI of Registrant:** 5493001E1K1DVWDV2464

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

  - **Street Address 1:** 390 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 844-457-6383

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

- **a. Name of Series:** JPMorgan Limited Duration Bond ETF

- **b. EDGAR series identifier (if any):** S000079814

- **c. LEI of Series:** 5493000BIWEW3H1AQT90

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

- **a. Date of fiscal year-end:** 2026-02-28

- **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:** $3036363883.03

**Total Liabilities:** $728434.87

**Net Assets:** $3035635448.16

**Cash Not Reported:** $146344.53

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1870.25253000 | **1-Year:** 236062.58750000 | **5-Year:** 496159.40917000 | **10-Year:** 30094.73626000 | **30-Year:** 0.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** 1029.11224000 | **5-Year:** 2427.20291000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000241197 | 0.45%                | 0.39%                | 0.48%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $189688.48               | $487236.10                                 |
| Month 2  | $-350243.85              | $1676556.25                                |
| Month 3  | $213506.03               | $4993775.92                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AMSR Trust                                                           | AMSR Trust, Series 2024-SFR1, Class A                                                           | CUSIP: 00179CAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7810000 | PA      | $7790841.29   | 0.26%             | 2041-07-17      | Variable      | 4.29%                 | Yes           |                  2 | On Loan: No      |
| AMSR Trust                                                           | AMSR Trust, Series 2021-SFR1, Class B                                                           | CUSIP: 00179DAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1285000 | PA      | $1209702.47   | 0.04%             | 2038-06-17      | Fixed         | 2.15%                 | Yes           |                  2 | On Loan: No      |
| AMSR Trust                                                           | AMSR Trust, Series 2024-SFR2, Class B                                                           | CUSIP: 00179UAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  14000000 | PA      | $13731015.20  | 0.45%             | 2041-11-17      | Fixed         | 4.15%                 | Yes           |                  2 | On Loan: No      |
| AMSR Trust                                                           | AMSR Trust, Series 2021-SFR2, Class A                                                           | CUSIP: 00179VAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3984244 | PA      | $3903053.56   | 0.13%             | 2038-08-17      | Fixed         | 1.53%                 | Yes           |                  2 | On Loan: No      |
| AMSR Trust                                                           | AMSR Trust, Series 2025-SFR2, Class A                                                           | CUSIP: 00180BAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8035000 | PA      | $7964622.24   | 0.26%             | 2042-11-17      | Fixed         | 4.28%                 | Yes           |                  2 | On Loan: No      |
| AMSR Trust                                                           | AMSR Trust, Series 2025-SFR1, Class A                                                           | CUSIP: 00182MAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2025000 | PA      | $1960953.30   | 0.06%             | 2042-06-17      | Fixed         | 3.65%                 | Yes           |                  2 | On Loan: No      |
| Affirm Asset Securitization Trust                                    | Affirm Asset Securitization Trust, Series 2024-X2, Class A                                      | CUSIP: 00833QAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    111282 | PA      | $111343.54    | 0.00%             | 2029-12-17      | Fixed         | 5.22%                 | Yes           |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                         | American Credit Acceptance Receivables Trust, Series 2025-3, Class C                            | CUSIP: 02528EAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  16665000 | PA      | $16747738.39  | 0.55%             | 2032-07-12      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| American Honda Finance Corp.                                         | American Honda Finance Corp.                                                                    | CUSIP: 02665WGK1<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   7730000 | PA      | $7771612.52   | 0.26%             | 2028-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Anchor Mortgage Trust                                                | Anchor Mortgage Trust, Series 2025-RTL1, Class A1                                               | CUSIP: 03290CAA4<br>LEI: 254900S7O2LYCU17JI96 | Long             | ABS-MBS          | CORP              | US        |   1695000 | PA      | $1700605.87   | 0.06%             | 2040-05-25      | Variable      | 5.72%                 | Yes           |                  2 | On Loan: No      |
| Ansley Park Capital LLC                                              | Ansley Park Capital LLC, Series 2025-A, Class A2                                                | CUSIP: 03637AAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12000000 | PA      | $12020088.00  | 0.40%             | 2035-04-20      | Fixed         | 4.43%                 | Yes           |                  2 | On Loan: No      |
| Apidos CLO                                                           | Apidos CLO, Series 2016-25A, Class A1R3                                                         | CUSIP: 03762YBD8<br>LEI: 254900C9NN5XS59HZV73 | Long             | ABS-CBDO         | CORP              | KY        |   3355000 | PA      | $3345471.80   | 0.11%             | 2037-01-20      | Floating      | 5.02%                 | Yes           |                  2 | On Loan: No      |
| Apidos CLO                                                           | Apidos CLO, Series 2019-31A, Class A1R                                                          | CUSIP: 03767VAG3<br>LEI: 549300IG6PHVJ3WBR394 | Long             | ABS-CBDO         | CORP              | KY        |   2061097 | PA      | $2061792.01   | 0.07%             | 2031-04-15      | Floating      | 5.27%                 | Yes           |                  2 | On Loan: No      |
| Aqua Finance Issuer Trust                                            | Aqua Finance Issuer Trust, Series 2025-A, Class A                                               | CUSIP: 038394AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5089370 | PA      | $5190567.32   | 0.17%             | 2050-12-19      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| ARES Trust                                                           | ARES Trust, Series 2025-IND3, Class A                                                           | CUSIP: 039955AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $5001559.50   | 0.16%             | 2042-04-15      | Floating      | 5.46%                 | Yes           |                  2 | On Loan: No      |
| Auxilior Term Funding LLC                                            | Auxilior Term Funding LLC, Series 2023-1A, Class A2                                             | CUSIP: 05335JAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    241761 | PA      | $243060.66    | 0.01%             | 2028-12-15      | Fixed         | 6.18%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                             | Avis Budget Rental Car Funding AESOP LLC, Series 2025-3A, Class A                               | CUSIP: 05377RKW3<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $10002806.00  | 0.33%             | 2030-02-20      | Fixed         | 4.17%                 | Yes           |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                         | Avolon Holdings Funding Ltd.                                                                    | CUSIP: 05401ABA8<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   3750000 | PA      | $3774525.00   | 0.12%             | 2030-10-10      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: No      |
| BBCMS Mortgage Trust                                                 | BBCMS Mortgage Trust, Series 2020-C7, Class A2                                                  | CUSIP: 05492VAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    908696 | PA      | $865251.64    | 0.03%             | 2053-04-15      | Fixed         | 2.02%                 | No            |                  2 | On Loan: No      |
| BBCMS Trust                                                          | BBCMS Trust, Series 2015-VFM, Class A1                                                          | CUSIP: 05546JAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    107818 | PA      | $107225.29    | 0.00%             | 2036-03-10      | Fixed         | 2.47%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                                       | BNP Paribas SA                                                                                  | CUSIP: 05581KAH4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  10000000 | PA      | $10265873.70  | 0.34%             | 2030-01-09      | Variable      | 5.18%                 | Yes           |                  2 | On Loan: No      |
| BRE Grand Islander Timeshare Issuer LLC                              | BRE Grand Islander Timeshare Issuer LLC, Series 2019-A, Class A                                 | CUSIP: 05588UAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    509919 | PA      | $505886.08    | 0.02%             | 2033-09-26      | Fixed         | 3.28%                 | Yes           |                  2 | On Loan: No      |
| BSPRT Issuer Ltd.                                                    | BSPRT Issuer Ltd., Series 2022-FL8, Class A                                                     | CUSIP: 055983AA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    895771 | PA      | $896164.20    | 0.03%             | 2037-02-15      | Floating      | 5.64%                 | Yes           |                  2 | On Loan: No      |
| BXG Receivables Note Trust                                           | BXG Receivables Note Trust, Series 2020-A, Class B                                              | CUSIP: 05608TAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2823079 | PA      | $2741782.67   | 0.09%             | 2036-02-28      | Fixed         | 2.49%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                                             | BX Trust, Series 2021-LBA, Class AJV                                                            | CUSIP: 05609BCD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6500000 | PA      | $6492011.50   | 0.21%             | 2036-02-15      | Floating      | 4.87%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                                             | BX Trust, Series 2021-BXMF, Class A                                                             | CUSIP: 05609RAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5729806 | PA      | $5715608.07   | 0.19%             | 2026-10-15      | Floating      | 4.71%                 | Yes           |                  2 | On Loan: No      |
| BPCE SA                                                              | BPCE SA                                                                                         | CUSIP: 056121AA4<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   6050000 | PA      | $6236099.03   | 0.21%             | 2031-05-28      | Variable      | 5.39%                 | Yes           |                  2 | On Loan: No      |
| BX                                                                   | BX, Series 2024-PALM, Class A                                                                   | CUSIP: 05612UAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4326923 | PA      | $4329622.21   | 0.14%             | 2037-06-15      | Floating      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Bain Capital Credit CLO Ltd.                                         | Bain Capital Credit CLO Ltd., Series 2025-4A, Class A1                                          | CUSIP: 05686GAA2<br>LEI: 254900GF7KVMBCIIVA18 | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $9991410.00   | 0.33%             | 2039-01-17      | Floating      | 5.10%                 | Yes           |                  2 | On Loan: No      |
| Ballyrock CLO Ltd.                                                   | Ballyrock CLO Ltd., Series 2020-2A, Class A1R                                                   | CUSIP: 05875DAJ1<br>LEI: 254900Y6C4AXEAZ9T124 | Long             | ABS-CBDO         | CORP              | KY        |   1657543 | PA      | $1657735.77   | 0.05%             | 2031-10-20      | Floating      | 5.16%                 | Yes           |                  2 | On Loan: No      |
| Ballyrock CLO Ltd.                                                   | Ballyrock CLO Ltd., Series 2019-1A, Class A1R                                                   | CUSIP: 05875JAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4521161 | PA      | $4521535.88   | 0.15%             | 2032-07-15      | Floating      | 5.20%                 | Yes           |                  2 | On Loan: No      |
| Banc of America Mortgage Trust                                       | Banc of America Mortgage Trust, Series 2004-D, Class 2A2                                        | CUSIP: 05949ADG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     51648 | PA      | $50150.92     | 0.00%             | 2034-05-25      | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| Banc of America Funding Trust                                        | Banc of America Funding Trust, Series 2006-1, Class 2A1                                         | CUSIP: 05949TBD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     73901 | PA      | $65912.91     | 0.00%             | 2036-01-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                | Bank of America Corp.                                                                           | CUSIP: 06051GMT3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  13285000 | PA      | $13466274.22  | 0.44%             | 2029-05-09      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                            | Bank of Nova Scotia (The)                                                                       | CUSIP: 06418GAU1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  11065000 | PA      | $11050570.13  | 0.36%             | 2028-09-15      | Variable      | 4.04%                 | No            |                  2 | On Loan: No      |
| BANK                                                                 | BANK, Series 2021-BN35, Class A2                                                                | CUSIP: 06540CAX5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2650000 | PA      | $2534163.20   | 0.08%             | 2064-06-15      | Fixed         | 1.87%                 | No            |                  2 | On Loan: No      |
| Bayview Commercial Asset Trust                                       | Bayview Commercial Asset Trust, Series 2005-2A, Class A2                                        | CUSIP: 07324SBP6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    276494 | PA      | $269147.57    | 0.01%             | 2035-08-25      | Floating      | 4.59%                 | Yes           |                  2 | On Loan: No      |
| Bayview Commercial Asset Trust                                       | Bayview Commercial Asset Trust, Series 2005-2A, Class M1                                        | CUSIP: 07324SBQ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     55222 | PA      | $53493.19     | 0.00%             | 2035-08-25      | Floating      | 4.71%                 | Yes           |                  2 | On Loan: No      |
| Bayview Commercial Asset Trust                                       | Bayview Commercial Asset Trust, Series 2007-3, Class A2                                         | CUSIP: 07325YAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    253924 | PA      | $241992.19    | 0.01%             | 2037-07-25      | Floating      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Bear Stearns Asset-Backed Securities Trust                           | Bear Stearns Asset-Backed Securities Trust, Series 2003-SD1, Class A                            | CUSIP: 07384YKL9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    368806 | PA      | $385455.05    | 0.01%             | 2033-12-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset-Backed Securities I Trust                         | Bear Stearns Asset-Backed Securities I Trust, Series 2004-AC6, Class M1                         | CUSIP: 073879LR7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     25754 | PA      | $12451.96     | 0.00%             | 2034-11-25      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset-Backed Securities I Trust                         | Bear Stearns Asset-Backed Securities I Trust, Series 2005-HE1, Class M2                         | CUSIP: 073879PS1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    196671 | PA      | $206878.44    | 0.01%             | 2035-01-25      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO XIV Ltd.                                 | Benefit Street Partners CLO Ltd., Series 2018-14A, Class AR                                     | CUSIP: 08179LAL5<br>LEI: 5493008E17UEFI73RC63 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5008065.00   | 0.16%             | 2037-10-20      | Floating      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| BOFAS Re-REMIC Trust                                                 | BOFAS Re-REMIC Trust, Series 2025-FRR6, Class A                                                 | CUSIP: 09711PAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5187000 | PA      | $4625403.51   | 0.15%             | 2051-11-27      | Variable      | 1.26%                 | Yes           |                  3 | On Loan: No      |
| BRAVO Residential Funding Trust                                      | BRAVO Residential Funding Trust, Series 2025-NQM6, Class A1                                     | CUSIP: 10570MAC4<br>LEI: 254900U9H6FFPW4O4S55 | Long             | ABS-MBS          | CORP              | US        |   5619191 | PA      | $5643005.49   | 0.19%             | 2065-06-25      | Variable      | 5.33%                 | Yes           |                  2 | On Loan: No      |
| Brean Asset-Backed Securities Trust                                  | Brean Asset-Backed Securities Trust, Series 2025-RM13, Class A1                                 | CUSIP: 10638PAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2127489 | PA      | $2062169.91   | 0.07%             | 2065-10-25      | Fixed         | 4.25%                 | Yes           |                  3 | On Loan: No      |
| Bridgecrest Lending Auto Securitization Trust                        | Bridgecrest Lending Auto Securitization Trust, Series 2025-3, Class C                           | CUSIP: 107920AE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5600000 | PA      | $5633015.36   | 0.19%             | 2031-05-15      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Securitization Trust                        | Bridgecrest Lending Auto Securitization Trust, Series 2025-1, Class C                           | CUSIP: 10806HAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8000000 | PA      | $8057502.40   | 0.27%             | 2029-12-17      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Bridge Trust                                                         | Bridge Trust, Series 2025-SFR1, Class A                                                         | CUSIP: 10807GAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8530000 | PA      | $8255689.70   | 0.27%             | 2042-09-17      | Fixed         | 4.05%                 | Yes           |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Securitization Trust                        | Bridgecrest Lending Auto Securitization Trust, Series 2025-4, Class C                           | CUSIP: 10807UAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6210000 | PA      | $6228238.77   | 0.21%             | 2031-08-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Business Jet Securities LLC                                          | Business Jet Securities LLC, Series 2024-2A, Class A                                            | CUSIP: 12326TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5056943 | PA      | $5105878.05   | 0.17%             | 2039-09-15      | Fixed         | 5.36%                 | Yes           |                  3 | On Loan: No      |
| Business Jet Securities LLC                                          | Business Jet Securities LLC, Series 2022-1A, Class A                                            | CUSIP: 12327AAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4719457 | PA      | $4689581.26   | 0.15%             | 2037-06-15      | Fixed         | 4.46%                 | Yes           |                  3 | On Loan: No      |
| Business Jet Securities LLC                                          | Business Jet Securities LLC, Series 2024-1A, Class A                                            | CUSIP: 12327CAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3312371 | PA      | $3384373.19   | 0.11%             | 2039-05-15      | Fixed         | 6.20%                 | Yes           |                  3 | On Loan: No      |
| CARS-DB5 LP                                                          | CARS-DB5 LP, Series 2021-1A, Class A1                                                           | CUSIP: 12510HAK6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2259361 | PA      | $2202946.27   | 0.07%             | 2051-08-15      | Fixed         | 1.44%                 | Yes           |                  2 | On Loan: No      |
| CCG Receivables Trust                                                | CCG Receivables Trust, Series 2023-2, Class B                                                   | CUSIP: 12511QAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5061000 | PA      | $5193029.34   | 0.17%             | 2032-04-14      | Fixed         | 6.21%                 | Yes           |                  2 | On Loan: No      |
| CFIN 2022-RTL1 Issuer LLC                                            | CFIN 2022-RTL1 Issuer LLC, Class A                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   1963432 | PA      | $1963431.64   | 0.06%             | 2027-08-17      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| CF Hippolyta Issuer LLC                                              | CF Hippolyta Issuer LLC, Series 2020-1, Class A1                                                | CUSIP: 12530MAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2285838 | PA      | $1951347.32   | 0.06%             | 2060-07-15      | Fixed         | 1.69%                 | Yes           |                  2 | On Loan: No      |
| Consumer Portfolio Services Auto Trust                               | Consumer Portfolio Services Auto Trust, Series 2025-B, Class A                                  | CUSIP: 12630SAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4021765 | PA      | $4030937.79   | 0.13%             | 2029-02-15      | Fixed         | 4.74%                 | Yes           |                  2 | On Loan: No      |
| Consumer Portfolio Services Auto Trust                               | Consumer Portfolio Services Auto Trust, Series 2025-A, Class A                                  | CUSIP: 12633SAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1664686 | PA      | $1667582.51   | 0.05%             | 2028-10-16      | Fixed         | 4.77%                 | Yes           |                  2 | On Loan: No      |
| CPS Auto Receivables Trust                                           | CPS Auto Receivables Trust, Series 2025-C, Class C                                              | CUSIP: 12634SAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9480000 | PA      | $9546533.48   | 0.31%             | 2031-10-15      | Fixed         | 4.91%                 | Yes           |                  2 | On Loan: No      |
| Countrywide Asset-Backed Certificates                                | Countrywide Asset-Backed Certificates, Series 2003-BC2, Class 2A1                               | CUSIP: 126671YB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     55970 | PA      | $55981.67     | 0.00%             | 2033-06-25      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| Countrywide Asset-Backed Certificates                                | Countrywide Asset-Backed Certificates, Series 2004-S1, Class M2                                 | CUSIP: 126673TG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7787 | PA      | $7797.35      | 0.00%             | 2035-02-25      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                               | Alternative Loan Trust, Series 2004-33, Class 3A3                                               | CUSIP: 12667FC52<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     88267 | PA      | $84343.14     | 0.00%             | 2034-12-25      | Variable      | 4.63%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust                                               | Alternative Loan Trust, Series 2004-J4, Class 1A6                                               | CUSIP: 12667FFL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       167 | PA      | $166.33       | 0.00%             | 2034-06-25      | Variable      | 5.40%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                                  | COMM Mortgage Trust, Series 2024-CBM, Class A1                                                  | CUSIP: 12674GAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3400600 | PA      | $3447396.34   | 0.11%             | 2041-12-10      | Variable      | 5.85%                 | Yes           |                  2 | On Loan: No      |
| CSTL Commercial Mortgage Trust                                       | CSTL Commercial Mortgage Trust, Series 2025-GATE2, Class B                                      | CUSIP: 12676JAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3400000 | PA      | $3400190.74   | 0.11%             | 2042-11-10      | Variable      | 4.85%                 | Yes           |                  2 | On Loan: No      |
| CAFL Issuer LP                                                       | CAFL Issuer LP, Series 2025-RRTL2, Class A1                                                     | CUSIP: 12770JAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4865000 | PA      | $4831118.68   | 0.16%             | 2040-11-28      | Variable      | 5.18%                 | Yes           |                  3 | On Loan: No      |
| CaixaBank SA                                                         | CaixaBank SA                                                                                    | CUSIP: 12803RAK0<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   7195000 | PA      | $7268295.25   | 0.24%             | 2029-07-03      | Variable      | 4.63%                 | Yes           |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                                   | Canadian Imperial Bank of Commerce                                                              | CUSIP: 13607QFD9<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   4435000 | PA      | $4445962.43   | 0.15%             | 2028-09-08      | Variable      | 4.24%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                       | Carvana Auto Receivables Trust, Series 2024-P4, Class A3                                        | CUSIP: 14076LAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1835000 | PA      | $1844435.02   | 0.06%             | 2030-01-10      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| Carmax Auto Owner Trust                                              | Carmax Auto Owner Trust, Series 2025-3, Class B                                                 | CUSIP: 14290FAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8000000 | PA      | $8102881.60   | 0.27%             | 2031-03-17      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| Carlyle US CLO Ltd.                                                  | Carlyle US CLO Ltd., Series 2021-1A, Class A1BR                                                 | CUSIP: 14316MAL5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5004385.00   | 0.16%             | 2040-01-15      | Floating      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Carmax Auto Owner Trust                                              | Carmax Auto Owner Trust, Series 2025-1, Class A3                                                | CUSIP: 14319WAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3235000 | PA      | $3276872.22   | 0.11%             | 2030-01-15      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Carmax Select Receivables Trust                                      | Carmax Select Receivables Trust, Series 2025-B, Class A2                                        | CUSIP: 14320BAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  13000000 | PA      | $13006154.20  | 0.43%             | 2029-03-15      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| Carmax Select Receivables Trust                                      | Carmax Select Receivables Trust, Series 2025-B, Class B                                         | CUSIP: 14320BAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4009736.80   | 0.13%             | 2030-07-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                       | Carvana Auto Receivables Trust, Series 2025-P3, Class A3                                        | CUSIP: 14688AAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  24000000 | PA      | $23994981.60  | 0.79%             | 2030-11-11      | Fixed         | 4.04%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                       | Carvana Auto Receivables Trust, Series 2025-P3, Class B                                         | CUSIP: 14688AAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12000000 | PA      | $12024508.80  | 0.40%             | 2031-10-10      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                       | Carvana Auto Receivables Trust, Series 2023-N1, Class D                                         | CUSIP: 14688FAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $10237931.00  | 0.34%             | 2029-07-10      | Fixed         | 6.69%                 | Yes           |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                       | Carvana Auto Receivables Trust, Series 2023-N4, Class A                                         | CUSIP: 14688LAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    331352 | PA      | $331839.11    | 0.01%             | 2028-01-10      | Fixed         | 6.42%                 | Yes           |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                       | Carvana Auto Receivables Trust, Series 2024-P2, Class A3                                        | CUSIP: 14688PAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2138709 | PA      | $2154089.82   | 0.07%             | 2029-07-10      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                       | Carvana Auto Receivables Trust, Series 2024-P3, Class A3                                        | CUSIP: 146919AC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5005940.50   | 0.16%             | 2029-10-10      | Fixed         | 4.26%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                       | Carvana Auto Receivables Trust, Series 2024-P3, Class A4                                        | CUSIP: 146919AD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4350000 | PA      | $4378669.98   | 0.14%             | 2030-09-10      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| Centex Home Equity Loan Trust                                        | Centex Home Equity Loan Trust, Series 2002-A, Class MV1                                         | CUSIP: 152314ER7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     68034 | PA      | $74715.02     | 0.00%             | 2032-01-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| CFMT LLC                                                             | CFMT LLC, Series 2024-HB15, Class A                                                             | CUSIP: 15723AAA9<br>LEI: 98450050957GF5E1CD92 | Long             | ABS-MBS          | CORP              | US        |   1137080 | PA      | $1132248.67   | 0.04%             | 2034-08-25      | Variable      | 4.00%                 | Yes           |                  3 | On Loan: No      |
| Citigroup, Inc.                                                      | Citigroup, Inc.                                                                                 | CUSIP: 17327CAW3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  16980000 | PA      | $17220036.92  | 0.57%             | 2029-03-04      | Variable      | 4.79%                 | No            |                  2 | On Loan: No      |
| Clarus Capital Funding LLC                                           | Clarus Capital Funding LLC, Series 2024-1A, Class A2                                            | CUSIP: 18271JAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1398433 | PA      | $1402786.87   | 0.05%             | 2032-08-20      | Fixed         | 4.71%                 | Yes           |                  2 | On Loan: No      |
| CNO Global Funding                                                   | CNO Global Funding                                                                              | CUSIP: 18977W2H2<br>LEI: 6354008GTNR4833ULD48 | Long             | DBT              | CORP              | US        |   8920000 | PA      | $8944123.25   | 0.29%             | 2028-09-08      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| CNH Equipment Trust                                                  | CNH Equipment Trust, Series 2024-C, Class A4                                                    | CUSIP: 18978GAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3585000 | PA      | $3615226.57   | 0.12%             | 2032-03-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2025-R05, Class 2M1                                 | CUSIP: 20753CAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8986157 | PA      | $8985443.95   | 0.30%             | 2045-07-25      | Floating      | 5.27%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2024-R01, Class 1M1                                 | CUSIP: 20753UAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1250994 | PA      | $1249824.87   | 0.04%             | 2044-01-25      | Floating      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2022-R03, Class 1M2                                 | CUSIP: 20753XAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16858571 | PA      | $17362163.49  | 0.57%             | 2042-03-25      | Floating      | 7.57%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2021-R03, Class 1M1                                 | CUSIP: 20754AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    421035 | PA      | $420909.97    | 0.01%             | 2041-12-25      | Floating      | 4.92%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M1                                 | CUSIP: 20754GAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1414633 | PA      | $1416331.84   | 0.05%             | 2044-02-25      | Floating      | 5.17%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2022-R01, Class 1M1                                 | CUSIP: 20754LAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    517485 | PA      | $517484.54    | 0.02%             | 2041-12-25      | Floating      | 5.07%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2022-R01, Class 1M2                                 | CUSIP: 20754LAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4892532 | PA      | $4917103.76   | 0.16%             | 2041-12-25      | Floating      | 5.97%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2025-R02, Class 1A1                                 | CUSIP: 20754TAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16509382 | PA      | $16536807.67  | 0.54%             | 2045-02-25      | Floating      | 5.07%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2025-R02, Class 1M1                                 | CUSIP: 20754TAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2488791 | PA      | $2491857.73   | 0.08%             | 2045-02-25      | Floating      | 5.22%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2025-R03, Class 2A1                                 | CUSIP: 20754VAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2134873 | PA      | $2148251.54   | 0.07%             | 2045-03-25      | Floating      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2025-R03, Class 2M1                                 | CUSIP: 20754VAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1831438 | PA      | $1838042.88   | 0.06%             | 2045-03-25      | Floating      | 5.67%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2024-R05, Class 2A1                                 | CUSIP: 20754XAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  40349237 | PA      | $40349192.55  | 1.33%             | 2044-07-25      | Floating      | 5.07%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2024-R05, Class 2M1                                 | CUSIP: 20754XAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    381558 | PA      | $381341.78    | 0.01%             | 2044-07-25      | Floating      | 5.07%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2025-R06, Class 1M1                                 | CUSIP: 20754YAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3774624 | PA      | $3770109.17   | 0.12%             | 2045-09-25      | Floating      | 5.02%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities                                        | Connecticut Avenue Securities, Series 2025-R01, Class 1A1                                       | CUSIP: 20755JAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3077586 | PA      | $3080467.74   | 0.10%             | 2045-01-25      | Floating      | 5.02%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities                                        | Connecticut Avenue Securities, Series 2025-R01, Class 1M1                                       | CUSIP: 20755JAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2061439 | PA      | $2062731.67   | 0.07%             | 2045-01-25      | Floating      | 5.17%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2024-R06, Class 1A1                                 | CUSIP: 20755RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4403435 | PA      | $4418031.15   | 0.15%             | 2044-09-25      | Floating      | 5.22%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2025-R04, Class 1M1                                 | CUSIP: 20755TAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2247466 | PA      | $2265311.73   | 0.07%             | 2045-05-25      | Floating      | 5.27%                 | Yes           |                  2 | On Loan: No      |
| CoreVest American Finance Trust                                      | CoreVest American Finance Trust, Series 2020-2, Class A                                         | CUSIP: 21872VAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     25600 | PA      | $25527.01     | 0.00%             | 2052-05-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Consumer Portfolio Services Auto Trust                               | Consumer Portfolio Services Auto Trust, Series 2025-D, Class A                                  | CUSIP: 223936AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7057346 | PA      | $7060368.19   | 0.23%             | 2029-07-16      | Fixed         | 4.46%                 | Yes           |                  2 | On Loan: No      |
| Consumer Portfolio Services Auto Trust                               | Consumer Portfolio Services Auto Trust, Series 2025-D, Class B                                  | CUSIP: 223936AB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4002588.40   | 0.13%             | 2030-04-15      | Fixed         | 4.48%                 | Yes           |                  2 | On Loan: No      |
| Consumer Portfolio Services Auto Trust                               | Consumer Portfolio Services Auto Trust, Series 2025-D, Class C                                  | CUSIP: 223936AC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4009172.40   | 0.13%             | 2032-02-17      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| CPS Auto Receivables Trust                                           | CPS Auto Receivables Trust, Series 2024-D, Class A                                              | CUSIP: 22411JAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    397189 | PA      | $397641.23    | 0.01%             | 2028-06-15      | Fixed         | 4.91%                 | Yes           |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Trust                                    | Credit Acceptance Auto Loan Trust, Series 2023-3A, Class A                                      | CUSIP: 224936AA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1612817 | PA      | $1621796.74   | 0.05%             | 2033-08-15      | Fixed         | 6.39%                 | Yes           |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Trust                                    | Credit Acceptance Auto Loan Trust, Series 2025-2A, Class A                                      | CUSIP: 224940AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  15000000 | PA      | $15040635.00  | 0.50%             | 2035-11-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Trust                                    | Credit Acceptance Auto Loan Trust, Series 2024-3A, Class A                                      | CUSIP: 22535LAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11845000 | PA      | $11905331.32  | 0.39%             | 2034-09-15      | Fixed         | 4.68%                 | Yes           |                  2 | On Loan: No      |
| Credit Agricole SA                                                   | Credit Agricole SA                                                                              | CUSIP: 22535WAP2<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |  10000000 | PA      | $10204221.10  | 0.34%             | 2029-01-09      | Variable      | 5.23%                 | Yes           |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Trust                                    | Credit Acceptance Auto Loan Trust, Series 2025-1A, Class A                                      | CUSIP: 22536KAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5745000 | PA      | $5811436.90   | 0.19%             | 2035-03-15      | Fixed         | 5.02%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                                         | UBS Group AG                                                                                    | CUSIP: 225401BK3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  13490000 | PA      | $13488232.00  | 0.44%             | 2029-12-23      | Variable      | 4.15%                 | Yes           |                  2 | On Loan: No      |
| CSFB Mortgage-Backed Pass-Through Certificates                       | CSFB Mortgage-Backed Pass-Through Certificates, Series 2003-AR24, Class 2A4                     | CUSIP: 22541QUN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     84656 | PA      | $83288.83     | 0.00%             | 2033-10-25      | Variable      | 6.99%                 | No            |                  2 | On Loan: No      |
| Credit Suisse First Boston Mortgage Securities Corp.                 | Credit Suisse First Boston Mortgage Securities Corp., Series 2004-5, Class 4A1                  | CUSIP: 22541SZL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    181197 | PA      | $185323.14    | 0.01%             | 2034-09-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Crossroads Asset Trust                                               | Crossroads Asset Trust, Series 2025-A, Class A2                                                 | CUSIP: 22767VAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2005000 | PA      | $2016989.30   | 0.07%             | 2032-02-20      | Fixed         | 4.91%                 | Yes           |                  2 | On Loan: No      |
| DLLAA LLC                                                            | DLLAA LLC, Series 2025-1A, Class A2                                                             | CUSIP: 233249AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2438060 | PA      | $2445448.01   | 0.08%             | 2027-10-20      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| DT Auto Owner Trust                                                  | DT Auto Owner Trust, Series 2022-1A, Class E                                                    | CUSIP: 23345YAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $5992042.80   | 0.20%             | 2029-03-15      | Fixed         | 5.53%                 | Yes           |                  2 | On Loan: No      |
| DT Auto Owner Trust                                                  | DT Auto Owner Trust, Series 2023-1A, Class D                                                    | CUSIP: 23346KAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2536872.00   | 0.08%             | 2028-11-15      | Fixed         | 6.44%                 | Yes           |                  2 | On Loan: No      |
| DLLAD LLC                                                            | DLLAD LLC, Series 2025-1A, Class A3                                                             | CUSIP: 23347BAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3615000 | PA      | $3655056.01   | 0.12%             | 2030-09-20      | Fixed         | 4.42%                 | Yes           |                  2 | On Loan: No      |
| DailyPay Securitization Trust 2025-1                                 | DailyPay Securitization Trust, Series 2025-1A, Class A                                          | CUSIP: 233824AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5500000 | PA      | $5540558.10   | 0.18%             | 2028-06-26      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Alt-A Securities, Inc. Mortgage Loan Trust                  | Deutsche Alt-A Securities, Inc. Mortgage Loan Trust, Series 2005-1, Class 2A1                   | CUSIP: 251510CX9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     16267 | PA      | $15881.03     | 0.00%             | 2020-02-25      | Variable      | 3.41%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                     | Deutsche Bank AG                                                                                | CUSIP: 25160PAP2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   5000000 | PA      | $5025410.80   | 0.17%             | 2029-01-10      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| DLIC Re-REMIC Trust                                                  | DLIC Re-REMIC Trust, Series 2025-FRR1, Class AK57                                               | CUSIP: 255928AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10000000 | PA      | $9700959.00   | 0.32%             | 2049-08-27      | Variable      | 1.49%                 | Yes           |                  3 | On Loan: No      |
| DLIC Re-REMIC Trust                                                  | DLIC Re-REMIC Trust, Series 2025-FRR1, Class BK57                                               | CUSIP: 255928AC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6000000 | PA      | $5800593.00   | 0.19%             | 2049-08-27      | Variable      | 1.52%                 | Yes           |                  3 | On Loan: No      |
| Drive Auto Receivables Trust                                         | Drive Auto Receivables Trust, Series 2024-2, Class A3                                           | CUSIP: 26207AAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3460000 | PA      | $3464791.06   | 0.11%             | 2028-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                                         | Drive Auto Receivables Trust, Series 2025-2, Class A3                                           | CUSIP: 262103AD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $10009391.00  | 0.33%             | 2032-09-15      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                                         | Drive Auto Receivables Trust, Series 2025-2, Class B                                            | CUSIP: 262103AE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  17500000 | PA      | $17473816.50  | 0.58%             | 2032-09-15      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                              | Dryden Senior Loan Fund, Series 2016-43A, Class AR3                                             | CUSIP: 26245CBQ5<br>LEI: 5493002P75UIPU4MC757 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $4993410.00   | 0.16%             | 2034-04-20      | Floating      | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Dryden CLO Ltd.                                                      | Dryden CLO Ltd., Series 2020-86A, Class A1R2                                                    | CUSIP: 26245XAY3<br>LEI: 25490017VKY7XEFZL303 | Long             | ABS-CBDO         | CORP              | KY        |  15000000 | PA      | $15011820.00  | 0.49%             | 2034-07-17      | Floating      | 5.01%                 | Yes           |                  2 | On Loan: No      |
| DT Auto Owner Trust                                                  | DT Auto Owner Trust, Series 2021-4A, Class E                                                    | CUSIP: 26253WAJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9115000 | PA      | $9021617.74   | 0.30%             | 2028-07-17      | Fixed         | 3.34%                 | Yes           |                  2 | On Loan: No      |
| Elara Hgv Timeshare Issuer LLC                                       | Elara Hgv Timeshare Issuer LLC, Series 2025-A, Class A                                          | CUSIP: 28416VAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12615560 | PA      | $12639871.31  | 0.42%             | 2040-01-25      | Fixed         | 4.54%                 | Yes           |                  2 | On Loan: No      |
| Elmwood CLO XII Ltd.                                                 | Elmwood CLO Ltd., Series 2021-5A, Class AR                                                      | CUSIP: 29002YAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5200000 | PA      | $5207144.80   | 0.17%             | 2037-10-15      | Floating      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| Elmwood CLO VIII Ltd.                                                | Elmwood CLO Ltd., Series 2021-1A, Class AR                                                      | CUSIP: 29003EAS4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  22875000 | PA      | $22951814.25  | 0.76%             | 2037-04-20      | Floating      | 5.43%                 | Yes           |                  2 | On Loan: No      |
| ELP Commercial Mortgage Trust                                        | ELP Commercial Mortgage Trust, Series 2025-ELP, Class B                                         | CUSIP: 290154AC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $3013176.60   | 0.10%             | 2042-11-13      | Variable      | 4.85%                 | Yes           |                  2 | On Loan: No      |
| Enel Finance International NV                                        | Enel Finance International NV                                                                   | CUSIP: 29278GBF4<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   2775000 | PA      | $2777008.85   | 0.09%             | 2028-09-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                                       | Enterprise Fleet Financing LLC, Series 2025-2, Class A3                                         | CUSIP: 29375TAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3565000 | PA      | $3600073.18   | 0.12%             | 2029-06-20      | Fixed         | 4.41%                 | Yes           |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                                       | Enterprise Fleet Financing LLC, Series 2025-3, Class A3                                         | CUSIP: 29375UAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5500000 | PA      | $5567400.85   | 0.18%             | 2029-09-20      | Fixed         | 4.46%                 | Yes           |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                                  | Exeter Automobile Receivables Trust, Series 2024-5A, Class A3                                   | CUSIP: 30165BAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1079503 | PA      | $1079795.56   | 0.04%             | 2028-03-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                                  | Exeter Automobile Receivables Trust, Series 2021-4A, Class E                                    | CUSIP: 30165JAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8200000 | PA      | $8140165.42   | 0.27%             | 2028-01-17      | Fixed         | 4.02%                 | Yes           |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                                  | Exeter Automobile Receivables Trust, Series 2024-2A, Class C                                    | CUSIP: 30166DAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  15565000 | PA      | $15695479.84  | 0.52%             | 2029-05-15      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                                  | Exeter Automobile Receivables Trust, Series 2023-4A, Class C                                    | CUSIP: 30166TAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1825192 | PA      | $1836893.78   | 0.06%             | 2028-08-15      | Fixed         | 6.51%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                                  | Exeter Automobile Receivables Trust, Series 2024-4A, Class A3                                   | CUSIP: 30166UAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1307475 | PA      | $1308572.34   | 0.04%             | 2030-08-15      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                                  | Exeter Automobile Receivables Trust, Series 2025-5A, Class B                                    | CUSIP: 30166VAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6665000 | PA      | $6677511.54   | 0.22%             | 2030-07-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                                  | Exeter Automobile Receivables Trust, Series 2025-5A, Class C                                    | CUSIP: 30166VAJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2975000 | PA      | $2991148.00   | 0.10%             | 2032-03-15      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| Exeter Select Automobile Receivables Trust                           | Exeter Select Automobile Receivables Trust, Series 2025-2, Class B                              | CUSIP: 30185EAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3748000 | PA      | $3780050.27   | 0.12%             | 2031-11-17      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Exeter Select Automobile Receivables Trust                           | Exeter Select Automobile Receivables Trust, Series 2025-3, Class B                              | CUSIP: 30185FAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5920000 | PA      | $5926842.93   | 0.20%             | 2032-03-15      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                 | FREMF Mortgage Trust, Series 2018-K83, Class C                                                  | CUSIP: 302958AQ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   7000000 | PA      | $6939060.10   | 0.23%             | 2051-11-25      | Variable      | 4.42%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                 | FREMF Mortgage Trust, Series 2017-K64, Class B                                                  | CUSIP: 30296CAE3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   5000000 | PA      | $4961907.50   | 0.16%             | 2050-05-25      | Variable      | 4.14%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                 | FREMF Mortgage Trust, Series 2017-K64, Class C                                                  | CUSIP: 30296CAG8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3285000 | PA      | $3255845.63   | 0.11%             | 2050-05-25      | Variable      | 4.14%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                 | FREMF Mortgage Trust, Series 2019-K89, Class C                                                  | CUSIP: 302972AU8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  10000000 | PA      | $9905904.00   | 0.33%             | 2051-01-25      | Variable      | 4.44%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                 | FREMF Mortgage Trust, Series 2019-K92, Class C                                                  | CUSIP: 302973AJ1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   8583000 | PA      | $8467986.94   | 0.28%             | 2052-05-25      | Variable      | 4.34%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                 | FREMF Mortgage Trust, Series 2020-K105, Class C                                                 | CUSIP: 302975BG1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3000000 | PA      | $2864433.90   | 0.09%             | 2053-03-25      | Variable      | 3.53%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                 | FREMF Mortgage Trust, Series 2018-K81, Class C                                                  | CUSIP: 30297HAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  10682000 | PA      | $10548017.81  | 0.35%             | 2051-09-25      | Variable      | 4.32%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                 | FREMF Mortgage Trust, Series 2018-K82, Class C                                                  | CUSIP: 30297LAG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3000000 | PA      | $2966115.60   | 0.10%             | 2028-09-25      | Variable      | 4.27%                 | Yes           |                  2 | On Loan: No      |
| FREMF 2020-K104 Mortgage Trust                                       | FREMF Mortgage Trust, Series 2020-K104, Class B                                                 | CUSIP: 302984AS8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1000000 | PA      | $967242.60    | 0.03%             | 2052-02-25      | Variable      | 3.65%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                 | FREMF Mortgage Trust, Series 2019-K736, Class C                                                 | CUSIP: 30298MAC3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2000000 | PA      | $1981733.00   | 0.07%             | 2026-07-25      | Variable      | 3.86%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                 | FREMF Mortgage Trust, Series 2019-K97, Class C                                                  | CUSIP: 30298PAU6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   7845000 | PA      | $7583974.10   | 0.25%             | 2051-09-25      | Variable      | 3.90%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                 | FREMF Mortgage Trust, Series 2017-K68, Class B                                                  | CUSIP: 30305EAE8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2000000 | PA      | $1975601.20   | 0.07%             | 2049-10-25      | Variable      | 3.97%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                 | FREMF Mortgage Trust, Series 2019-K94, Class C                                                  | CUSIP: 30310XAG4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1000000 | PA      | $978194.90    | 0.03%             | 2052-07-25      | Variable      | 4.10%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                 | FREMF Mortgage Trust, Series 2019-K93, Class C                                                  | CUSIP: 30313FAU9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   7000000 | PA      | $6885342.10   | 0.23%             | 2052-05-25      | Variable      | 4.26%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                 | FREMF Mortgage Trust, Series 2019-K100, Class B                                                 | CUSIP: 30313PAS2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   4688000 | PA      | $4516994.89   | 0.15%             | 2052-11-25      | Variable      | 3.61%                 | Yes           |                  2 | On Loan: No      |
| F&G Global Funding                                                   | F&G Global Funding                                                                              | CUSIP: 30321L2K7<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |   5705000 | PA      | $5722993.11   | 0.19%             | 2028-09-08      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| FS Rialto                                                            | FS Rialto, Series 2021-FL3, Class A                                                             | CUSIP: 30323CAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2630525 | PA      | $2628441.30   | 0.09%             | 2036-11-16      | Floating      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 3132DN6Y4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2765638 | PA      | $2831651.28   | 0.09%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 3132DQQL3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  20034126 | PA      | $20136198.42  | 0.66%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 3132DTJB7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5055284 | PA      | $5157161.21   | 0.17%             | 2054-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 3132DUAS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   9509316 | PA      | $9700947.42   | 0.32%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 3132DURU3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  12108985 | PA      | $12543861.62  | 0.41%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 3132DVMV4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  18962409 | PA      | $19892217.52  | 0.66%             | 2054-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 3132DWF73<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  10641827 | PA      | $10942793.97  | 0.36%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 3132DWFS7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3804102 | PA      | $3874639.95   | 0.13%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC Gold Pools, Other                                                                         | CUSIP: 3132FNAK7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    330611 | PA      | $326744.14    | 0.01%             | 2028-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 3133BXV73<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6929069 | PA      | $6967669.99   | 0.23%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 3133CEMB5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  16801356 | PA      | $17145101.16  | 0.56%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 3133KHWU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4359087 | PA      | $4170770.73   | 0.14%             | 2050-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 3133KJJP8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4474857 | PA      | $3841275.19   | 0.13%             | 2050-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 3133KRQE7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  22445042 | PA      | $23157234.68  | 0.76%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 1974, Class ZA                                                             | CUSIP: 3133TAN73<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       819 | PA      | $819.76       | 0.00%             | 2027-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 3133WAQ27<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3128273 | PA      | $3172252.31   | 0.10%             | 2054-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, STRIPS, Series 343, Class F4                                                             | CUSIP: 31351DEC1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1234021 | PA      | $1218768.01   | 0.04%             | 2037-10-15      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, STRIPS, Series 328, Class S4                                                             | CUSIP: 31352DC24<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2139381 | PA      | $111935.76    | 0.00%             | 2038-02-15      | Floating      | 1.92%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2012-13, Class FA                                                           | CUSIP: 3136A3VK4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3720872 | PA      | $3705451.13   | 0.12%             | 2042-02-25      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2012-38, Class PA                                                           | CUSIP: 3136A42X6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    552937 | PA      | $528567.80    | 0.02%             | 2041-09-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2012-31, Class FB                                                           | CUSIP: 3136A5JD9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3103564 | PA      | $3087074.90   | 0.10%             | 2042-04-25      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2012-93, Class ME                                                           | CUSIP: 3136A8KR0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    720537 | PA      | $691239.60    | 0.02%             | 2042-01-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2012-119, Class FB                                                          | CUSIP: 3136A9NH7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2125043 | PA      | $2091755.05   | 0.07%             | 2042-11-25      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2012-139, Class JA                                                          | CUSIP: 3136AALT0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1537486 | PA      | $1481731.44   | 0.05%             | 2042-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2013-6, Class FL                                                            | CUSIP: 3136ABY80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    486795 | PA      | $480700.04    | 0.02%             | 2043-02-25      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2013-23, Class KJ                                                           | CUSIP: 3136ADCU1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1098449 | PA      | $1039560.35   | 0.03%             | 2042-05-25      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2013-43, Class YH                                                           | CUSIP: 3136ADX20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    408678 | PA      | $393874.19    | 0.01%             | 2033-05-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2014-23, Class FA                                                           | CUSIP: 3136AJ4G8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5596954 | PA      | $5522339.97   | 0.18%             | 2039-10-25      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2014-58, Class FG                                                           | CUSIP: 3136AKB36<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3463535 | PA      | $3419365.32   | 0.11%             | 2044-09-25      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2014-49, Class AF                                                           | CUSIP: 3136AKWD1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     73052 | PA      | $71438.41     | 0.00%             | 2044-08-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2014-66, Class WF                                                           | CUSIP: 3136ALEZ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    679832 | PA      | $681652.55    | 0.02%             | 2054-10-25      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2015-28, Class CI                                                           | CUSIP: 3136ANUX3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7400805 | PA      | $1370325.67   | 0.05%             | 2045-05-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2015-42, Class BF                                                           | CUSIP: 3136ANW86<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1525782 | PA      | $1510727.01   | 0.05%             | 2045-06-25      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2015-91, Class AF                                                           | CUSIP: 3136AQTL4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1640778 | PA      | $1658908.19   | 0.05%             | 2045-12-25      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2016-33, Class JA                                                           | CUSIP: 3136AR6G8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1708006 | PA      | $1636165.52   | 0.05%             | 2045-07-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2016-25, Class LA                                                           | CUSIP: 3136ART40<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5109822 | PA      | $4882676.97   | 0.16%             | 2045-07-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2016-19, Class OP                                                           | CUSIP: 3136ARZY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    847308 | PA      | $676859.92    | 0.02%             | 2046-04-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2016-58, Class SA                                                           | CUSIP: 3136ATAB0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4454352 | PA      | $254110.54    | 0.01%             | 2046-08-25      | Variable      | 1.63%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2017-104, Class LA                                                          | CUSIP: 3136B0LR5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    828273 | PA      | $777971.07    | 0.03%             | 2047-11-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2017-108, Class PA                                                          | CUSIP: 3136B0RT5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1190784 | PA      | $1129477.35   | 0.04%             | 2047-06-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2018-7, Class CI                                                            | CUSIP: 3136B0YS9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8595738 | PA      | $1675488.15   | 0.06%             | 2048-02-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2019-41, Class GF                                                           | CUSIP: 3136B5E27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8985287 | PA      | $8945138.02   | 0.29%             | 2053-03-25      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2019-38, Class PC                                                           | CUSIP: 3136B5FZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1838116 | PA      | $1752655.94   | 0.06%             | 2048-02-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2019-77, Class FP                                                           | CUSIP: 3136B7J93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8019185 | PA      | $7879030.14   | 0.26%             | 2050-01-25      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2019-74, Class BF                                                           | CUSIP: 3136B7UH2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3722049 | PA      | $3638502.54   | 0.12%             | 2059-12-25      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2022-12, Class GE                                                           | CUSIP: 3136BMDE5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6520750 | PA      | $6107452.01   | 0.20%             | 2052-03-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2024-10, Class FA                                                           | CUSIP: 3136BQ5S4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  32343914 | PA      | $32372124.70  | 1.07%             | 2054-03-25      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2024-92, Class HB                                                           | CUSIP: 3136BT2V4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6082229 | PA      | $6133398.02   | 0.20%             | 2051-12-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2024-104, Class CF                                                          | CUSIP: 3136BUEY2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5728541 | PA      | $5727603.44   | 0.19%             | 2055-01-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2025-7, Class EV                                                            | CUSIP: 3136BUWG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  11391459 | PA      | $11815413.56  | 0.39%             | 2036-01-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2025-24, Class PV                                                           | CUSIP: 3136BVSC3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7893108 | PA      | $7990386.56   | 0.26%             | 2036-04-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2025-70, Class FD                                                           | CUSIP: 3136BXKN3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  14395846 | PA      | $14201091.87  | 0.47%             | 2050-01-25      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, STRIPS, Series 400, Class 1                                                               | CUSIP: 3136FKQW1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    782246 | PA      | $633659.87    | 0.02%             | 2039-11-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4074, Class FE                                                             | CUSIP: 3137ASJS4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1007351 | PA      | $996059.13    | 0.03%             | 2042-07-15      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4120, Class KI                                                             | CUSIP: 3137AVE52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    382615 | PA      | $18852.82     | 0.00%             | 2032-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4150, Class F                                                              | CUSIP: 3137AY3L3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2845541 | PA      | $2803584.53   | 0.09%             | 2043-01-15      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4161, Class YF                                                             | CUSIP: 3137AYQ95<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2147875 | PA      | $2116939.35   | 0.07%             | 2043-02-15      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4187, Class CA                                                             | CUSIP: 3137B1J29<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7499148 | PA      | $7091221.78   | 0.23%             | 2033-04-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4281, Class FB                                                             | CUSIP: 3137B6N64<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1364339 | PA      | $1355996.47   | 0.04%             | 2043-12-15      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4350, Class AF                                                             | CUSIP: 3137BBGP9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1266765 | PA      | $1235735.85   | 0.04%             | 2037-12-15      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4350, Class FK                                                             | CUSIP: 3137BBHK9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1578922 | PA      | $1540712.28   | 0.05%             | 2038-06-15      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4350, Class KF                                                             | CUSIP: 3137BBHT0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    204722 | PA      | $199687.97    | 0.01%             | 2039-01-15      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4363, Class FA                                                             | CUSIP: 3137BCNQ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1169023 | PA      | $1153769.94   | 0.04%             | 2041-09-15      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4413, Class WF                                                             | CUSIP: 3137BFBJ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    876451 | PA      | $855364.44    | 0.03%             | 2041-10-15      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4448, Class TF                                                             | CUSIP: 3137BGZB8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1277220 | PA      | $1261109.66   | 0.04%             | 2040-05-15      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4457, Class KF                                                             | CUSIP: 3137BHWP8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2273116 | PA      | $2244397.64   | 0.07%             | 2040-10-15      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4480, Class FM                                                             | CUSIP: 3137BKCT5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2135005 | PA      | $2081953.15   | 0.07%             | 2040-06-15      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4515, Class FA                                                             | CUSIP: 3137BLAT5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    698529 | PA      | $689151.93    | 0.02%             | 2038-08-15      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4559, Class AF                                                             | CUSIP: 3137BNCR3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    706643 | PA      | $714690.66    | 0.02%             | 2042-03-15      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4594, Class GN                                                             | CUSIP: 3137BQK22<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1282756 | PA      | $1212588.38   | 0.04%             | 2045-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4606, Class FL                                                             | CUSIP: 3137BR4H5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2866125 | PA      | $2840517.30   | 0.09%             | 2044-12-15      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4611, Class BF                                                             | CUSIP: 3137BRC60<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7252240 | PA      | $7190870.51   | 0.24%             | 2041-06-15      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 5072, Class QC                                                             | CUSIP: 3137F9AR2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4590311 | PA      | $3770082.30   | 0.12%             | 2050-10-25      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, Multi-Family Structured Pass-Through Certificates, Series Q007, Class APT2               | CUSIP: 3137FHQC0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    565217 | PA      | $565882.28    | 0.02%             | 2047-10-25      | Variable      | 6.44%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4867, Class WF                                                             | CUSIP: 3137FL2H6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4780088 | PA      | $4724444.71   | 0.16%             | 2037-04-15      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 4935, Class KP                                                             | CUSIP: 3137FQ5B5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2945065 | PA      | $2644605.91   | 0.09%             | 2049-12-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 5000, Class CB                                                             | CUSIP: 3137FVEN8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2879077 | PA      | $2664516.68   | 0.09%             | 2035-01-25      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, Multi-Family Structured Pass-Through Certificates, Series Q013, Class APT1               | CUSIP: 3137FWGH7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    879361 | PA      | $880012.68    | 0.03%             | 2050-05-25      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 5270, Class FH                                                             | CUSIP: 3137H9E54<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2994207 | PA      | $2966250.82   | 0.10%             | 2052-06-25      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 5381, Class FC                                                             | CUSIP: 3137HBM27<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7682496 | PA      | $7703760.87   | 0.25%             | 2054-02-25      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 5460, Class AF                                                             | CUSIP: 3137HFQP3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   8873366 | PA      | $8871554.56   | 0.29%             | 2054-10-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 5500, Class KF                                                             | CUSIP: 3137HJBF3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  12157728 | PA      | $12172661.80  | 0.40%             | 2054-10-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 5551, Class BA                                                             | CUSIP: 3137HLTW2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  14012144 | PA      | $14002220.55  | 0.46%             | 2051-10-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 5564, Class DA                                                             | CUSIP: 3137HMCU2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  18727822 | PA      | $18867687.38  | 0.62%             | 2050-08-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3138WEC64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4707245 | PA      | $4577716.82   | 0.15%             | 2045-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Grantor Trust, Whole Loan, Series 2001-T8, Class A1                                       | CUSIP: 313920UK4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     92696 | PA      | $94685.72     | 0.00%             | 2041-07-25      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Grantor Trust, Whole Loan, Series 2002-T6, Class A4                                       | CUSIP: 31392CYH1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    291298 | PA      | $283488.95    | 0.01%             | 2041-03-25      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC Trust, Whole Loan, Series 2003-W1, Class 2A                                         | CUSIP: 31392GWB7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     87203 | PA      | $88306.70     | 0.00%             | 2042-12-25      | Variable      | 5.08%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, Structured Pass-Through Certificates, Whole Loan, Series T-51, Class 1A                  | CUSIP: 31392W7F1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     36777 | PA      | $29470.98     | 0.00%             | 2042-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC Trust, Whole Loan, Series 2003-W4, Class 5A                                         | CUSIP: 31393AR33<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    258219 | PA      | $257992.35    | 0.01%             | 2042-10-25      | Variable      | 4.31%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, Structured Pass-Through Certificates, Whole Loan, Series T-54, Class 4A                  | CUSIP: 31393LFP3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    496766 | PA      | $482509.47    | 0.02%             | 2043-02-25      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC Trust, Whole Loan, Series 2003-W15, Class 3A                                        | CUSIP: 31393TC87<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    279687 | PA      | $275002.79    | 0.01%             | 2042-12-25      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA Trust, Whole Loan, Series 2004-W2, Class 4A                                                | CUSIP: 31393XGT8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     64578 | PA      | $63786.47     | 0.00%             | 2044-02-25      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2004-17, Class BF                                                           | CUSIP: 31393XYQ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     14948 | PA      | $14940.16     | 0.00%             | 2034-01-25      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2006-16, Class HZ                                                           | CUSIP: 31394V6A3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     87272 | PA      | $90593.51     | 0.00%             | 2036-03-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 3085, Class VS                                                             | CUSIP: 31396FSL8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     72178 | PA      | $88340.59     | 0.00%             | 2035-12-15      | Floating      | 11.69%                | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2006-124, Class FC                                                          | CUSIP: 31396PFT3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    418836 | PA      | $414885.80    | 0.01%             | 2037-01-25      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2007-76, Class ZG                                                           | CUSIP: 31396WZ90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     88735 | PA      | $91780.15     | 0.00%             | 2037-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, REMIC, Series 3300, Class FA                                                             | CUSIP: 31397GQR4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     74653 | PA      | $73935.86     | 0.00%             | 2035-08-15      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC Trust, Whole Loan, Series 2009-W1, Class A                                          | CUSIP: 31398F7A3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     67891 | PA      | $70742.27     | 0.00%             | 2049-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, REMIC, Series 2010-64, Class FC                                                           | CUSIP: 31398RS22<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4822487 | PA      | $4800397.80   | 0.16%             | 2040-06-25      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Other                                                                                     | CUSIP: 3140FX2B7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4621889 | PA      | $4535597.00   | 0.15%             | 2063-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Other                                                                                     | CUSIP: 3140HMYE8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    222499 | PA      | $211578.60    | 0.01%             | 2048-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Other                                                                                     | CUSIP: 3140J0JC5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  10000000 | PA      | $8843981.30   | 0.29%             | 2030-07-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140J7L60<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2427718 | PA      | $2392695.06   | 0.08%             | 2042-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140JAFA1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2660768 | PA      | $2615281.91   | 0.09%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140KFET8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5611834 | PA      | $5035896.44   | 0.17%             | 2050-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140KTH81<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5094143 | PA      | $4547056.05   | 0.15%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140KTHN8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3430098 | PA      | $3058530.93   | 0.10%             | 2051-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140M6UW1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4368436 | PA      | $4526180.73   | 0.15%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Other                                                                                     | CUSIP: 3140NYGM7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  27196246 | PA      | $27703110.49  | 0.91%             | 2030-05-01      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140Q7N52<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2717250 | PA      | $2659539.88   | 0.09%             | 2047-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140Q9XT5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    485781 | PA      | $483639.30    | 0.02%             | 2048-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140QQEC5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6103181 | PA      | $6277877.64   | 0.21%             | 2052-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140QQLV5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2765057 | PA      | $2818762.50   | 0.09%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140QQSR7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5745609 | PA      | $5856275.46   | 0.19%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140QUVB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4623731 | PA      | $4750617.83   | 0.16%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140QWC59<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  13882875 | PA      | $14420313.67  | 0.48%             | 2055-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140W0YH2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  10160027 | PA      | $10390513.79  | 0.34%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140W1MC4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  28540201 | PA      | $29187689.87  | 0.96%             | 2055-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140W2CC3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  19109680 | PA      | $19369090.25  | 0.64%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140XJGG2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4380102 | PA      | $4335200.35   | 0.14%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 3140XJL92<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2864863 | PA      | $2943476.83   | 0.10%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 31416CD52<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    110185 | PA      | $116362.07    | 0.00%             | 2039-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 20 Year                                                                              | CUSIP: 31418APY8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    565173 | PA      | $547292.74    | 0.02%             | 2033-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 20 Year                                                                              | CUSIP: 31418ARX8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    220976 | PA      | $213530.17    | 0.01%             | 2033-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 20 Year                                                                              | CUSIP: 31418AUQ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    738748 | PA      | $716535.51    | 0.02%             | 2033-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 31418ELY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3831736 | PA      | $3902393.49   | 0.13%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 31418ENL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  21023285 | PA      | $21571742.17  | 0.71%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 31418MUN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    495526 | PA      | $510521.55    | 0.02%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA UMBS, 30 Year                                                                              | CUSIP: 31418XYT9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    154889 | PA      | $158018.46    | 0.01%             | 2040-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 31426FYU5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   9509220 | PA      | $9772240.63   | 0.32%             | 2055-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 31427MUW9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  13572641 | PA      | $14106086.30  | 0.46%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | FHLMC UMBS, 30 Year                                                                             | CUSIP: 3142GRZY9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5064163 | PA      | $5203778.26   | 0.17%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| First Franklin Mortgage Loan Trust                                   | First Franklin Mortgage Loan Trust, Series 2002-FF1, Class M1                                   | CUSIP: 32027NAR2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     37496 | PA      | $43847.16     | 0.00%             | 2032-04-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| First Franklin Mortgage Loan Trust                                   | First Franklin Mortgage Loan Trust, Series 2002-FF4, Class M1                                   | CUSIP: 32027NBU4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    578174 | PA      | $510166.65    | 0.02%             | 2033-02-25      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| First Franklin Mortgage Loan Trust                                   | First Franklin Mortgage Loan Trust, Series 2003-FFH1, Class M2                                  | CUSIP: 32027NEE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    229618 | PA      | $208650.78    | 0.01%             | 2033-09-25      | Floating      | 6.69%                 | No            |                  2 | On Loan: No      |
| First Franklin Mortgage Loan Trust                                   | First Franklin Mortgage Loan Trust, Series 2004-FF8, Class M4                                   | CUSIP: 32027NNT4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    176799 | PA      | $128271.56    | 0.00%             | 2034-10-25      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| First Horizon Mortgage Pass-Through Trust                            | First Horizon Mortgage Pass-Through Trust, Series 2004-AR6, Class 2A1                           | CUSIP: 32051GBD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     59490 | PA      | $57577.12     | 0.00%             | 2034-12-25      | Variable      | 4.34%                 | No            |                  2 | On Loan: No      |
| First Investors Auto Owner Trust                                     | First Investors Auto Owner Trust, Series 2025-1A, Class B                                       | CUSIP: 32059WAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5002262.50   | 0.16%             | 2031-01-15      | Fixed         | 4.39%                 | Yes           |                  2 | On Loan: No      |
| FirstEnergy Transmission LLC                                         | FirstEnergy Transmission LLC                                                                    | CUSIP: 33767BAG4<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4050660.84   | 0.13%             | 2030-01-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| FirstKey Homes Trust                                                 | FirstKey Homes Trust, Series 2021-SFR1, Class A                                                 | CUSIP: 33767WAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6139277 | PA      | $6017231.61   | 0.20%             | 2038-08-17      | Fixed         | 1.54%                 | Yes           |                  2 | On Loan: No      |
| FirstKey Homes Trust                                                 | FirstKey Homes Trust, Series 2022-SFRA, Class A                                                 | CUSIP: 33768DAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1949382 | PA      | $1917690.86   | 0.06%             | 2039-03-17      | Fixed         | 3.10%                 | Yes           |                  2 | On Loan: No      |
| FirstKey Homes Trust                                                 | FirstKey Homes Trust, Series 2022-SFR3, Class B                                                 | CUSIP: 33768EAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11988000 | PA      | $11952577.86  | 0.39%             | 2038-07-17      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| FirstKey Homes Trust                                                 | FirstKey Homes Trust, Series 2022-SFR1, Class B                                                 | CUSIP: 33768NAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $5978640.00   | 0.20%             | 2039-05-19      | Fixed         | 4.49%                 | Yes           |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                                              | Flagstar Mortgage Trust, Series 2019-2, Class A2                                                | CUSIP: 33852BAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1138324 | PA      | $1040265.38   | 0.03%             | 2049-12-25      | Variable      | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Fortiva Retail Credit Master Note Business Trust                     | Fortiva Retail Credit Master Note Business Trust, Series 2025-TWO, Class A                      | CUSIP: 34962ABD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3455000 | PA      | $3454218.13   | 0.11%             | 2031-05-15      | Fixed         | 5.92%                 | Yes           |                  2 | On Loan: No      |
| Foundation Finance Trust                                             | Foundation Finance Trust, Series 2024-1A, Class A                                               | CUSIP: 349941AA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1527757 | PA      | $1564019.31   | 0.05%             | 2049-12-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Foundation Finance Trust                                             | Foundation Finance Trust, Series 2024-2A, Class A                                               | CUSIP: 35040VAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3320098 | PA      | $3334060.22   | 0.11%             | 2050-03-15      | Fixed         | 4.60%                 | Yes           |                  2 | On Loan: No      |
| Foundation Finance Trust                                             | Foundation Finance Trust, Series 2025-1A, Class A                                               | CUSIP: 35040WAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8797309 | PA      | $8913795.64   | 0.29%             | 2050-04-15      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Foundation Finance Trust                                             | Foundation Finance Trust, Series 2025-2A, Class A                                               | CUSIP: 35042NAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8662045 | PA      | $8715627.31   | 0.29%             | 2052-04-15      | Fixed         | 4.67%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC MSCR Trust, Series 2021-MN1, Class M1                                                     | CUSIP: 35563FAA9<br>LEI: 549300XWC4JMK6CH6K84 | Long             | ABS-MBS          | USGSE             | US        |     63038 | PA      | $62888.65     | 0.00%             | 2051-01-25      | Floating      | 6.07%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust                            | FHLMC Seasoned Credit Risk Transfer Trust, Series 2020-1, Class M55G                            | CUSIP: 35563PPE3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   5843965 | PA      | $5332352.21   | 0.18%             | 2059-08-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Seasoned Credit Risk Transfer Trust                                  | Seasoned Credit Risk Transfer Trust, Series 2025-1, Class MAU                                   | CUSIP: 35563PZ28<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3283471 | PA      | $3063043.91   | 0.10%             | 2064-11-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, Series 2025-MN11, Class M1                                                               | CUSIP: 35563YAA8<br>LEI: 529900E2V0BG2KXC9E18 | Long             | ABS-MBS          | USGSE             | US        |   7816543 | PA      | $7808422.37   | 0.26%             | 2045-07-25      | Floating      | 5.72%                 | Yes           |                  2 | On Loan: No      |
| Seasoned Loans Structured Transaction Trust                          | Seasoned Loans Structured Transaction Trust, Series 2024-2, Class VF                            | CUSIP: 35564CSK4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   8285192 | PA      | $8401927.59   | 0.28%             | 2034-10-25      | Floating      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2024-HQA2, Class A1                                             | CUSIP: 35564NDY6<br>LEI: 5299002OYNAPMJKK2A73 | Long             | ABS-MBS          | CORP              | US        |   8500000 | PA      | $8545236.03   | 0.28%             | 2044-08-25      | Floating      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| FHLMC STACR REMIC Trust                                              | FHLMC Stacr Remic Trust, Series 2025-HQA1, Class A1                                             | CUSIP: 35564NGY3<br>LEI: 529900MBUPRSJMB6GN48 | Long             | ABS-MBS          | CORP              | US        |   6250000 | PA      | $6256114.38   | 0.21%             | 2045-02-25      | Floating      | 5.02%                 | Yes           |                  2 | On Loan: No      |
| FHLMC STACR REMIC Trust                                              | FHLMC Stacr Remic Trust, Series 2025-HQA1, Class M1                                             | CUSIP: 35564NGZ0<br>LEI: 529900MBUPRSJMB6GN48 | Long             | ABS-MBS          | CORP              | US        |   4055179 | PA      | $4052676.20   | 0.13%             | 2045-02-25      | Floating      | 5.22%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2025-DNA2, Class M1                                             | CUSIP: 35564NHZ9<br>LEI: 529900XX8WXEM4FBIH80 | Long             | ABS-MBS          | CORP              | US        |   1635025 | PA      | $1635390.39   | 0.05%             | 2045-05-25      | Floating      | 5.27%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2025-DNA3, Class M1                                             | CUSIP: 35564UAR8<br>LEI: 5299009HC4IGFM6RXF30 | Long             | ABS-MBS          | CORP              | US        |  10955218 | PA      | $10947872.86  | 0.36%             | 2045-09-25      | Floating      | 5.17%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2025-DNA4, Class M1                                             | CUSIP: 35564UBR7<br>LEI: 529900ZVQVVVNGMGDO97 | Long             | ABS-MBS          | CORP              | US        |  11852015 | PA      | $11844489.74  | 0.39%             | 2045-10-25      | Floating      | 5.17%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC MSCR Trust, Series 2025-MN12, Class M1                                                    | CUSIP: 355913AA2<br>LEI: 529900KABSM46L5D1T20 | Long             | ABS-MBS          | CORP              | US        |   7145000 | PA      | $7145042.87   | 0.24%             | 2045-11-25      | Floating      | 5.83%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                 | FREMF Mortgage Trust, Series 2017-K70, Class C                                                  | CUSIP: 35708VAU6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1750000 | PA      | $1726394.08   | 0.06%             | 2049-12-25      | Variable      | 3.94%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA II, 30 Year                                                                                | CUSIP: 3617WJYV7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   8078133 | PA      | $7310924.03   | 0.24%             | 2051-08-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GMF Floorplan Owner Revolving Trust                                  | GMF Floorplan Owner Revolving Trust, Series 2024-4A, Class A2                                   | CUSIP: 361886DR2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3000120.60   | 0.10%             | 2029-11-15      | Floating      | 4.69%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA II, 30 Year                                                                                | CUSIP: 3618N5MR7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  26413329 | PA      | $26953504.99  | 0.89%             | 2055-05-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GSAA Trust                                                           | GSAA Trust, Series 2004-CW1, Class 1A1                                                          | CUSIP: 36228FT48<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    286843 | PA      | $281374.53    | 0.01%             | 2034-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA II, Other                                                                                  | CUSIP: 3622ADGD4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2185409 | PA      | $2230072.06   | 0.07%             | 2064-07-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                              | GSR Mortgage Loan Trust, Series 2004-10F, Class 7A1                                             | CUSIP: 36242DEZ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     38572 | PA      | $38934.44     | 0.00%             | 2034-09-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                                    | GLS Auto Receivables Issuer Trust, Series 2022-1A, Class E                                      | CUSIP: 36263XAJ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7000000 | PA      | $7058027.90   | 0.23%             | 2029-05-15      | Fixed         | 5.64%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Select Receivables Trust                                    | GLS Auto Select Receivables Trust, Series 2024-4A, Class A2                                     | CUSIP: 36271BAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    858229 | PA      | $860346.72    | 0.03%             | 2029-12-17      | Fixed         | 4.43%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                                    | GLS Auto Receivables Issuer Trust, Series 2025-1A, Class B                                      | CUSIP: 36271KAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  15300000 | PA      | $15439106.07  | 0.51%             | 2029-07-16      | Fixed         | 4.98%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Select Receivables Trust                                    | GLS Auto Select Receivables Trust, Series 2025-3A, Class B                                      | CUSIP: 36272GAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1609000 | PA      | $1621809.25   | 0.05%             | 2031-09-15      | Fixed         | 4.81%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                                    | GLS Auto Receivables Issuer Trust, Series 2025-4A, Class C                                      | CUSIP: 36273HAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7220000 | PA      | $7253141.24   | 0.24%             | 2031-08-15      | Fixed         | 4.74%                 | Yes           |                  2 | On Loan: No      |
| Generate CLO 6 Ltd.                                                  | Generate CLO Ltd., Series 6A, Class AR2                                                         | CUSIP: 37148JAN3<br>LEI: 254900V675MOVWK0HA08 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5005710.00   | 0.16%             | 2037-10-22      | Floating      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                                    | GLS Auto Receivables Issuer Trust, Series 2025-2A, Class B                                      | CUSIP: 37989BAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2523037.50   | 0.08%             | 2029-10-15      | Fixed         | 4.97%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                                    | GLS Auto Receivables Issuer Trust, Series 2025-3A, Class B                                      | CUSIP: 37989YAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8260000 | PA      | $8288226.90   | 0.27%             | 2030-01-15      | Fixed         | 4.57%                 | Yes           |                  2 | On Loan: No      |
| Gm Financial Consumer Automobile Receivables Trust                   | Gm Financial Consumer Automobile Receivables Trust, Series 2025-3, Class B                      | CUSIP: 379957AF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1740000 | PA      | $1760458.05   | 0.06%             | 2031-09-16      | Fixed         | 4.53%                 | No            |                  2 | On Loan: No      |
| GM Financial Automobile Leasing Trust                                | GM Financial Automobile Leasing Trust, Series 2024-3, Class A3                                  | CUSIP: 38012QAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1250000 | PA      | $1251444.63   | 0.04%             | 2027-10-20      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| GM Financial Automobile Leasing Trust                                | GM Financial Automobile Leasing Trust, Series 2024-3, Class A4                                  | CUSIP: 38012QAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1250000 | PA      | $1253594.75   | 0.04%             | 2028-10-20      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                      | Goldman Sachs Group, Inc. (The)                                                                 | CUSIP: 38141GC69<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5013353.20   | 0.17%             | 2031-01-28      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                      | Goldman Sachs Group, Inc. (The)                                                                 | CUSIP: 38141GD27<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  10345000 | PA      | $10352455.95  | 0.34%             | 2029-10-21      | Variable      | 4.15%                 | No            |                  2 | On Loan: No      |
| Goodleap LLC                                                         | Goodleap LLC, Class A                                                                           | CUSIP: N/A<br>LEI: 549300YN94MOAVYW0F52       | Long             | DBT              | CORP              | US        |   2528816 | PA      | $2621080.02   | 0.09%             | 2038-07-15      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| Goodgreen                                                            | Goodgreen, Series 2019-1A, Class A                                                              | CUSIP: 38218DAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   1087518 | PA      | $1005717.02   | 0.03%             | 2054-10-15      | Fixed         | 3.86%                 | Yes           |                  3 | On Loan: No      |
| Goodgreen                                                            | Goodgreen, Series 2018-1A, Class A                                                              | CUSIP: 38218GAA0<br>LEI: 549300X0P2BXCQULUH20 | Long             | ABS-O            | CORP              | KY        |   1533930 | PA      | $1426270.90   | 0.05%             | 2053-10-15      | Variable      | 3.93%                 | Yes           |                  3 | On Loan: No      |
| Goodgreen Trust                                                      | Goodgreen Trust, Series 2017-2A, Class A                                                        | CUSIP: 38218QAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    945113 | PA      | $862585.67    | 0.03%             | 2053-10-15      | Fixed         | 3.26%                 | Yes           |                  3 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2013-H16, Class FA                                                                 | CUSIP: 38375B4Y5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    702202 | PA      | $702709.74    | 0.02%             | 2063-07-20      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2012-H21, Class FA                                                                 | CUSIP: 38375BVU3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    371269 | PA      | $370985.78    | 0.01%             | 2062-07-20      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2012-H29, Class FA                                                                 | CUSIP: 38375BZQ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    204759 | PA      | $204814.66    | 0.01%             | 2062-10-20      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2014-H07, Class FC                                                                 | CUSIP: 38375UHH6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3777928 | PA      | $3782725.34   | 0.12%             | 2064-05-20      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2014-H11, Class JA                                                                 | CUSIP: 38375UKE9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    714366 | PA      | $714322.64    | 0.02%             | 2064-06-20      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2014-H17, Class FM                                                                 | CUSIP: 38375UNT3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2248466 | PA      | $2247871.69   | 0.07%             | 2064-08-20      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2015-H03, Class FD                                                                 | CUSIP: 38375UTT7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1362325 | PA      | $1362651.47   | 0.04%             | 2065-01-20      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2015-H12, Class FA                                                                 | CUSIP: 38376RBF2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1016470 | PA      | $1016312.66   | 0.03%             | 2065-05-20      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2015-H12, Class FJ                                                                 | CUSIP: 38376RBU9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    902491 | PA      | $901734.44    | 0.03%             | 2065-05-20      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2015-H14, Class FB                                                                 | CUSIP: 38376RCF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1109707 | PA      | $1108949.38   | 0.04%             | 2065-05-20      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2015-H15, Class FB                                                                 | CUSIP: 38376RCZ7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1710918 | PA      | $1710544.97   | 0.06%             | 2065-06-20      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2015-H19, Class FN                                                                 | CUSIP: 38376RFU5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2008353 | PA      | $2006981.41   | 0.07%             | 2065-07-20      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2015-H23, Class TA                                                                 | CUSIP: 38376RHJ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2587347 | PA      | $2586311.67   | 0.09%             | 2065-09-20      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2011-158, Class EB                                                                 | CUSIP: 38378AY96<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    244466 | PA      | $243849.16    | 0.01%             | 2026-12-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2012-61, Class FM                                                                  | CUSIP: 38378EJ87<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2806317 | PA      | $2785736.71   | 0.09%             | 2042-05-16      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2015-H04, Class FL                                                                 | CUSIP: 38378U8R1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1754431 | PA      | $1754046.88   | 0.06%             | 2065-02-20      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2016-12, Class PA                                                                  | CUSIP: 38379TP52<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3771699 | PA      | $3579124.07   | 0.12%             | 2045-06-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2021-H07, Class FA                                                                 | CUSIP: 38380Q3B6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   6168069 | PA      | $6200928.78   | 0.20%             | 2071-05-20      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2023-24, Class FD                                                                  | CUSIP: 38383WCM6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   9724173 | PA      | $9660979.92   | 0.32%             | 2053-02-20      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2024-28, Class BA                                                                  | CUSIP: 38384JAL8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1544031 | PA      | $1564779.51   | 0.05%             | 2048-02-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2024-44, Class HM                                                                  | CUSIP: 38384KW23<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3372447 | PA      | $3232536.71   | 0.11%             | 2052-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2024-159, Class PA                                                                 | CUSIP: 38384YHQ7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4765049 | PA      | $4718579.83   | 0.16%             | 2054-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2025-41, Class KF                                                                  | CUSIP: 38385EPJ7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  14586199 | PA      | $14602828.85  | 0.48%             | 2055-03-20      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                 | GNMA, Series 2025-65, Class FP                                                                  | CUSIP: 38385FXQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  28700756 | PA      | $28707350.98  | 0.95%             | 2055-04-20      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| GreatAmerica Leasing Receivables Funding LLC                         | GreatAmerica Leasing Receivables Funding LLC, Series 2025-1, Class A3                           | CUSIP: 39154GAJ5<br>LEI: 549300JFP7GIDD4UWO79 | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2021247.60   | 0.07%             | 2029-04-16      | Fixed         | 4.49%                 | Yes           |                  2 | On Loan: No      |
| GreenSky Home Improvement Issuer Trust                               | GreenSky Home Improvement Issuer Trust, Series 2024-2, Class A3                                 | CUSIP: 39571XAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2547746.00   | 0.08%             | 2059-10-27      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| GreenSky Home Improvement Issuer Trust                               | GreenSky Home Improvement Issuer Trust, Series 2024-2, Class B                                  | CUSIP: 39571XAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1090000 | PA      | $1103997.13   | 0.04%             | 2059-10-27      | Fixed         | 5.26%                 | Yes           |                  2 | On Loan: No      |
| Harley-Davidson Motorcycle Trust                                     | Harley-Davidson Motorcycle Trust, Series 2024-B, Class A4                                       | CUSIP: 41284PAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2850000 | PA      | $2870317.94   | 0.09%             | 2032-04-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| HERO Funding                                                         | HERO Funding, Series 2017-3A, Class A2                                                          | CUSIP: 42771AAB2<br>LEI: 549300Z5C0ID42MSJA91 | Long             | ABS-O            | CORP              | KY        |    584646 | PA      | $551665.43    | 0.02%             | 2048-09-20      | Fixed         | 3.95%                 | Yes           |                  3 | On Loan: No      |
| Hertz Vehicle Financing III LP                                       | Hertz Vehicle Financing LP, Series 2021-2A, Class A                                             | CUSIP: 42806MAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  13700000 | PA      | $13392940.53  | 0.44%             | 2027-12-27      | Fixed         | 1.68%                 | Yes           |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                                          | Hertz Vehicle Financing LLC, Series 2025-2A, Class A                                            | CUSIP: 42806MCX5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1050000 | PA      | $1071537.71   | 0.04%             | 2031-09-25      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| Hertz Vehicle Financing III LLC                                      | Hertz Vehicle Financing LLC, Series 2025-3A, Class A                                            | CUSIP: 42806MDB2<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |  14285000 | PA      | $14502062.00  | 0.48%             | 2029-12-26      | Fixed         | 5.06%                 | Yes           |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                                         | Hilton Grand Vacations Trust, Series 2025-1A, Class A                                           | CUSIP: 43283CAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1579056 | PA      | $1604389.57   | 0.05%             | 2042-05-27      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                                         | Hilton Grand Vacations Trust, Series 2022-2A, Class A                                           | CUSIP: 43283GAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    860266 | PA      | $857461.18    | 0.03%             | 2037-01-25      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                                         | Hilton Grand Vacations Trust, Series 2020-AA, Class A                                           | CUSIP: 43285HAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    383654 | PA      | $378057.19    | 0.01%             | 2039-02-25      | Fixed         | 2.74%                 | Yes           |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                                         | Hilton Grand Vacations Trust, Series 2025-2A, Class A                                           | CUSIP: 43285JAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5823570 | PA      | $5856383.31   | 0.19%             | 2044-05-25      | Fixed         | 4.54%                 | Yes           |                  2 | On Loan: No      |
| Home Partners of America Trust                                       | Home Partners of America Trust, Series 2022-1, Class B                                          | CUSIP: 43730NAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9300040 | PA      | $9242223.17   | 0.30%             | 2039-04-17      | Fixed         | 4.33%                 | Yes           |                  2 | On Loan: No      |
| Home Partners of America Trust                                       | Home Partners of America Trust, Series 2022-1, Class D                                          | CUSIP: 43730NAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    524618 | PA      | $519681.65    | 0.02%             | 2039-04-17      | Fixed         | 4.73%                 | Yes           |                  2 | On Loan: No      |
| Home Partners of America Trust                                       | Home Partners of America Trust, Series 2021-3, Class D                                          | CUSIP: 43730XAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1617289 | PA      | $1520845.28   | 0.05%             | 2041-01-17      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Home Partners of America Trust                                       | Home Partners of America Trust, Series 2019-1, Class D                                          | CUSIP: 43731QAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    812485 | PA      | $795815.65    | 0.03%             | 2039-09-17      | Fixed         | 3.41%                 | Yes           |                  2 | On Loan: No      |
| Huntington Bank Auto Credit-Linked Notes                             | Huntington Bank Auto Credit-Linked Notes, Series 2025-1, Class B                                | CUSIP: 446438SX2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2766636 | PA      | $2788787.92   | 0.09%             | 2033-03-21      | Fixed         | 4.96%                 | Yes           |                  2 | On Loan: No      |
| Huntington Bank Auto Credit-Linked Notes                             | Huntington Bank Auto Credit-Linked Notes, Series 2025-2, Class B1                               | CUSIP: 44644NAN9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4503806 | PA      | $4531869.11   | 0.15%             | 2033-09-20      | Fixed         | 4.83%                 | Yes           |                  2 | On Loan: No      |
| Impac CMB Trust                                                      | Impac CMB Trust, Series 2004-6, Class 1A2                                                       | CUSIP: 45254NKD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8662 | PA      | $8672.09      | 0.00%             | 2034-10-25      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Impac CMB Trust                                                      | Impac CMB Trust, Series 2005-5, Class A1                                                        | CUSIP: 45254NPU5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    217680 | PA      | $207943.54    | 0.01%             | 2035-08-25      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| IndyMac INDA Mortgage Loan Trust                                     | IndyMac INDA Mortgage Loan Trust, Series 2007-AR1, Class 1A1                                    | CUSIP: 45669AAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    182532 | PA      | $140812.94    | 0.00%             | 2037-03-25      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| JPMorgan Mortgage Trust                                              | JPMorgan Mortgage Trust, Series 2003-A1, Class 1A1                                              | CUSIP: 466247AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9830 | PA      | $9468.48      | 0.00%             | 2033-10-25      | Variable      | 5.03%                 | No            |                  2 | On Loan: No      |
| JPMorgan Prime Money Market Fund                                     | JPMorgan Prime Money Market Fund, Class IM                                                      | CUSIP: 46637K844<br>LEI: 549300YD7H8SEEU7VG41 | Long             | STIV             | RF                | US        |  30195171 | NS      | $30207249.22  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Jonah Energy ABS II LLC                                              | Jonah Energy ABS LLC, Series 2025-2A, Class A1                                                  | CUSIP: 479915AA8<br>LEI: 254900MMTK6TS4MGMV20 | Long             | ABS-O            | CORP              | US        |   1860948 | PA      | $1863367.12   | 0.06%             | 2041-01-10      | Fixed         | 5.91%                 | Yes           |                  3 | On Loan: No      |
| KKR CLO 34 Ltd.                                                      | KKR CLO Ltd., Series 34A, Class BR                                                              | CUSIP: 48253UAL0<br>LEI: 254900DSRKUNUNRNUG13 | Long             | ABS-CBDO         | CORP              | KY        |   9643000 | PA      | $9649007.59   | 0.32%             | 2034-07-15      | Floating      | 5.65%                 | Yes           |                  2 | On Loan: No      |
| LCM Ltd.                                                             | LCM Ltd., Series 36A, Class A1R                                                                 | CUSIP: 50190LAL2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3902000 | PA      | $3898995.46   | 0.13%             | 2034-01-15      | Floating      | 4.97%                 | Yes           |                  2 | On Loan: No      |
| LCM 29 Ltd.                                                          | LCM Ltd., Series 29A, Class AR                                                                  | CUSIP: 50201MAQ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1576751 | PA      | $1577340.47   | 0.05%             | 2031-04-15      | Floating      | 5.24%                 | Yes           |                  2 | On Loan: No      |
| LCM Ltd.                                                             | LCM Ltd., Series 34A, Class A1R                                                                 | CUSIP: 50203CAL7<br>LEI: 54930038DJKYPKSVRB29 | Long             | ABS-CBDO         | CORP              | KY        |  15000000 | PA      | $14995635.00  | 0.49%             | 2034-10-20      | Floating      | 5.06%                 | Yes           |                  2 | On Loan: No      |
| LHOME Mortgage Trust                                                 | LHOME Mortgage Trust, Series 2024-RTL4, Class A1                                                | CUSIP: 50205PAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $3013730.40   | 0.10%             | 2039-07-25      | Variable      | 5.92%                 | Yes           |                  2 | On Loan: No      |
| LHOME Mortgage Trust                                                 | LHOME Mortgage Trust, Series 2025-RTL1, Class A1                                                | CUSIP: 50205UAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1240000 | PA      | $1247448.68   | 0.04%             | 2040-01-25      | Variable      | 5.65%                 | Yes           |                  2 | On Loan: No      |
| LHOME Mortgage Trust                                                 | LHOME Mortgage Trust, Series 2025-RTL3, Class A1                                                | CUSIP: 50205YAA1<br>LEI: 529900XB146PHFHY2T23 | Long             | ABS-MBS          | CORP              | US        |   4250000 | PA      | $4258165.53   | 0.14%             | 2040-08-25      | Variable      | 5.24%                 | Yes           |                  2 | On Loan: No      |
| Lhome Mortgage Trust                                                 | LHOME Mortgage Trust, Series 2025-RTL2, Class A1                                                | CUSIP: 50206RAA5<br>LEI: 529900COAFD3IY51O355 | Long             | ABS-MBS          | CORP              | US        |   1695000 | PA      | $1705819.69   | 0.06%             | 2040-04-25      | Variable      | 5.61%                 | Yes           |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                                           | LAD Auto Receivables Trust, Series 2025-2A, Class B                                             | CUSIP: 505912AF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4025596.80   | 0.13%             | 2032-05-17      | Fixed         | 4.53%                 | Yes           |                  2 | On Loan: No      |
| Lending Funding Trust                                                | Lending Funding Trust, Series 2020-2A, Class C                                                  | CUSIP: 51507KAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    980000 | PA      | $967160.14    | 0.03%             | 2031-04-21      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Lendmark Funding Trust                                               | Lendmark Funding Trust, Series 2025-2A, Class A                                                 | CUSIP: 52603GAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6054655.20   | 0.20%             | 2034-10-20      | Fixed         | 4.78%                 | Yes           |                  2 | On Loan: No      |
| Lendmark Funding Trust                                               | Lendmark Funding Trust, Series 2025-2A, Class B                                                 | CUSIP: 52603GAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11025000 | PA      | $11143283.92  | 0.37%             | 2034-10-20      | Fixed         | 4.98%                 | Yes           |                  2 | On Loan: No      |
| Lendmark Funding Trust                                               | Lendmark Funding Trust, Series 2021-2A, Class A                                                 | CUSIP: 52604DAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  13165000 | PA      | $12708657.66  | 0.42%             | 2032-04-20      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Lendmark Funding Trust                                               | Lendmark Funding Trust, Series 2021-2A, Class C                                                 | CUSIP: 52604DAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3317540.80   | 0.11%             | 2032-04-20      | Fixed         | 3.09%                 | Yes           |                  2 | On Loan: No      |
| Lendmark Funding Trust                                               | Lendmark Funding Trust, Series 2021-1A, Class A                                                 | CUSIP: 52607MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5760000 | PA      | $5594226.62   | 0.18%             | 2031-11-20      | Fixed         | 1.90%                 | Yes           |                  2 | On Loan: No      |
| Lendmark Funding Trust                                               | Lendmark Funding Trust, Series 2021-1A, Class B                                                 | CUSIP: 52607MAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $957479.40    | 0.03%             | 2031-11-20      | Fixed         | 2.47%                 | Yes           |                  2 | On Loan: No      |
| Lendmark Funding Trust                                               | Lendmark Funding Trust, Series 2021-1A, Class C                                                 | CUSIP: 52607MAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1437658.05   | 0.05%             | 2031-11-20      | Fixed         | 3.41%                 | Yes           |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                             | Lloyds Banking Group plc                                                                        | CUSIP: 539439BD0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |  10000000 | PA      | $10160106.30  | 0.33%             | 2029-06-13      | Variable      | 4.82%                 | No            |                  2 | On Loan: No      |
| MASTR Seasoned Securitization Trust                                  | MASTR Seasoned Securitization Trust, Series 2003-1, Class 3A2                                   | CUSIP: 55265WAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     29542 | PA      | $28922.00     | 0.00%             | 2033-02-25      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| MF1 Ltd.                                                             | MF1 Ltd., Series 2021-FL7, Class A                                                              | CUSIP: 55284AAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    885254 | PA      | $884937.56    | 0.03%             | 2036-10-16      | Floating      | 5.15%                 | Yes           |                  2 | On Loan: No      |
| MF1 Ltd.                                                             | MF1 Ltd., Series 2022-FL8, Class A                                                              | CUSIP: 55284JAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3246727 | PA      | $3246714.15   | 0.11%             | 2037-02-19      | Floating      | 5.31%                 | Yes           |                  2 | On Loan: No      |
| MMP Capital LLC                                                      | MMP Capital LLC, Series 2025-A, Class A                                                         | CUSIP: 55317QAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1751361 | PA      | $1764872.28   | 0.06%             | 2031-12-15      | Fixed         | 5.36%                 | Yes           |                  2 | On Loan: No      |
| M&T Equipment 2024-LEAF1 Notes                                       | M&T Equipment Notes, Series 2024-1A, Class A2                                                   | CUSIP: 55376YAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2308203 | PA      | $2315205.14   | 0.08%             | 2031-08-18      | Fixed         | 4.99%                 | Yes           |                  2 | On Loan: No      |
| MVW LLC                                                              | MVW LLC, Series 2024-2A, Class A                                                                | CUSIP: 55389QAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2020231 | PA      | $2027256.07   | 0.07%             | 2042-03-20      | Fixed         | 4.43%                 | Yes           |                  2 | On Loan: No      |
| MVW LLC                                                              | MVW LLC, Series 2025-2A, Class A                                                                | CUSIP: 55389RAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6060000 | PA      | $6083803.07   | 0.20%             | 2044-10-20      | Fixed         | 4.48%                 | Yes           |                  2 | On Loan: No      |
| Madison Park Funding LII Ltd.                                        | Madison Park Funding Ltd., Series 2021-52A, Class AR                                            | CUSIP: 55822BAN5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   8000000 | PA      | $7993624.00   | 0.26%             | 2035-01-22      | Floating      | 4.96%                 | Yes           |                  2 | On Loan: No      |
| MADISON PARK FUNDING XLII, LTD.                                      | Madison Park Funding Ltd., Series 13A, Class AR2                                                | CUSIP: 55822RAB6<br>LEI: 549300YWZ8HFDYP0MR16 | Long             | ABS-CBDO         | CORP              | KY        |  11161600 | PA      | $11158407.54  | 0.37%             | 2030-11-21      | Floating      | 4.78%                 | Yes           |                  2 | On Loan: No      |
| Magnetite Ltd.                                                       | Magnetite Ltd., Series 2022-32A, Class AR                                                       | CUSIP: 55953WAL4<br>LEI: 549300QUG3I8PF6T6C52 | Long             | ABS-CBDO         | CORP              | KY        |   8000000 | PA      | $7994616.00   | 0.26%             | 2037-10-15      | Floating      | 5.33%                 | Yes           |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                       | Mariner Finance Issuance Trust, Series 2024-AA, Class A                                         | CUSIP: 567928AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10700000 | PA      | $10847127.14  | 0.36%             | 2036-09-22      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                       | Mariner Finance Issuance Trust, Series 2021-AA, Class A                                         | CUSIP: 56848DAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2946000.60   | 0.10%             | 2036-03-20      | Fixed         | 1.86%                 | Yes           |                  2 | On Loan: No      |
| Marlette Funding Trust                                               | Marlette Funding Trust, Series 2025-1A, Class B                                                 | CUSIP: 570920AB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $10044024.00  | 0.33%             | 2035-07-16      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Marvell Technology, Inc.                                             | Marvell Technology, Inc.                                                                        | CUSIP: 573874AR5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4110000 | PA      | $4171084.22   | 0.14%             | 2030-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MASTR Adjustable Rate Mortgages Trust                                | MASTR Adjustable Rate Mortgages Trust, Series 2004-13, Class 2A1                                | CUSIP: 576433UE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     36871 | PA      | $36289.00     | 0.00%             | 2034-04-21      | Variable      | 6.29%                 | No            |                  2 | On Loan: No      |
| MASTR Adjustable Rate Mortgages Trust                                | MASTR Adjustable Rate Mortgages Trust, Series 2004-13, Class 3A7B                               | CUSIP: 576433WM4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    119923 | PA      | $117883.70    | 0.00%             | 2034-11-21      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| Mellon Residential Funding Corp. Mortgage Pass-Through Certificates  | Mellon Residential Funding Corp. Mortgage Pass-Through Certificates, Series 2001-TBC1, Class B1 | CUSIP: 585525FE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     32521 | PA      | $31037.06     | 0.00%             | 2031-11-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| MRFC Mortgage Pass-Through Trust                                     | MRFC Mortgage Pass-Through Trust, Series 2002-TBC2, Class B1                                    | CUSIP: 585525GA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     21278 | PA      | $22048.79     | 0.00%             | 2032-08-15      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Auto Lease Trust                                       | Mercedes-Benz Auto Lease Trust, Series 2024-B, Class A4                                         | CUSIP: 58769GAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1915000 | PA      | $1921871.79   | 0.06%             | 2030-06-17      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                               | Merrill Lynch Mortgage Investors Trust, Series 2004-D, Class A1                                 | CUSIP: 59020UGF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8970 | PA      | $9161.39      | 0.00%             | 2029-09-25      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                               | Merrill Lynch Mortgage Investors Trust, Series 2004-1, Class 2A3                                | CUSIP: 59020UNQ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     39969 | PA      | $35426.86     | 0.00%             | 2034-12-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| Metlife Securitization Trust                                         | Metlife Securitization Trust, Series 2017-1A, Class A                                           | CUSIP: 59166BAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    376620 | PA      | $364199.53    | 0.01%             | 2055-04-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Metlife Securitization Trust                                         | Metlife Securitization Trust, Series 2018-1A, Class A                                           | CUSIP: 59166DAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1348558 | PA      | $1321727.66   | 0.04%             | 2057-03-25      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Mission Lane Credit Card Master Trust                                | Mission Lane Credit Card Master Trust, Series 2025-B, Class A                                   | CUSIP: 60510MBU1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5700000 | PA      | $5742992.25   | 0.19%             | 2031-09-15      | Fixed         | 5.06%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                   | Morgan Stanley Mortgage Loan Trust, Series 2004-3, Class 4A                                     | CUSIP: 61745MA52<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    406464 | PA      | $402985.83    | 0.01%             | 2034-04-25      | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Dean Witter Capital I, Inc. Trust                     | Morgan Stanley Dean Witter Capital I, Inc. Trust, Series 2003-HYB1, Class A4                    | CUSIP: 61746WC24<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     29079 | PA      | $25974.64     | 0.00%             | 2033-03-25      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Dean Witter Capital I, Inc. Trust                     | Morgan Stanley Dean Witter Capital I, Inc. Trust, Series 2003-HYB1, Class B1                    | CUSIP: 61746WC32<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4127 | PA      | $426.83       | 0.00%             | 2033-03-25      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                       | Morgan Stanley                                                                                  | CUSIP: 61747YFK6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10292830.90  | 0.34%             | 2030-01-16      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                   | Morgan Stanley Mortgage Loan Trust, Series 2004-5AR, Class 3A3                                  | CUSIP: 61748HAT8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     49230 | PA      | $48259.29     | 0.00%             | 2034-07-25      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                   | Morgan Stanley Mortgage Loan Trust, Series 2004-5AR, Class 3A5                                  | CUSIP: 61748HAV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    277433 | PA      | $274563.18    | 0.01%             | 2034-07-25      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                   | Morgan Stanley Mortgage Loan Trust, Series 2004-11AR, Class 1A2A                                | CUSIP: 61748HHB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    106041 | PA      | $102158.95    | 0.00%             | 2035-01-25      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| MVW LLC                                                              | MVW LLC, Series 2025-1A, Class A                                                                | CUSIP: 627924AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3049355 | PA      | $3096698.17   | 0.10%             | 2042-09-22      | Fixed         | 4.97%                 | Yes           |                  2 | On Loan: No      |
| Mutual of Omaha Cos. Global Funding                                  | Mutual of Omaha Cos. Global Funding                                                             | CUSIP: 62829D2G4<br>LEI: 635400AL5J3F1ZPTAN95 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10119789.30  | 0.33%             | 2028-06-09      | Fixed         | 4.51%                 | Yes           |                  2 | On Loan: No      |
| MVW LLC                                                              | MVW LLC, Series 2024-1A, Class A                                                                | CUSIP: 62847RAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1304116 | PA      | $1324550.07   | 0.04%             | 2043-02-20      | Fixed         | 5.32%                 | Yes           |                  2 | On Loan: No      |
| NMABS Issuer I LLC                                                   | NMABS Issuer LLC, Series 2025-1A, Class A                                                       | CUSIP: 629174AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8780000 | PA      | $8817259.21   | 0.29%             | 2055-11-20      | Fixed         | 5.14%                 | Yes           |                  3 | On Loan: No      |
| NMEF Funding LLC                                                     | NMEF Funding LLC, Series 2025-B, Class A2                                                       | CUSIP: 62919WAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4235000 | PA      | $4248106.90   | 0.14%             | 2033-01-18      | Fixed         | 4.64%                 | Yes           |                  2 | On Loan: No      |
| NAAC Reperforming Loan REMIC Trust Certificates                      | NAAC Reperforming Loan REMIC Trust Certificates, Series 2004-R3, Class AF                       | CUSIP: 62951MAZ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    401727 | PA      | $329199.76    | 0.01%             | 2035-02-25      | Floating      | 4.52%                 | Yes           |                  2 | On Loan: No      |
| Nationwide Building Society                                          | Nationwide Building Society                                                                     | CUSIP: 63861VAK3<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |  10000000 | PA      | $10318742.40  | 0.34%             | 2029-07-29      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| Nationwide Building Society                                          | Nationwide Building Society                                                                     | CUSIP: 63861VAM9<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |  10000000 | PA      | $10102667.90  | 0.33%             | 2029-07-14      | Variable      | 4.65%                 | Yes           |                  2 | On Loan: No      |
| NatWest Markets plc                                                  | NatWest Markets plc                                                                             | CUSIP: 63906YAJ7<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |  10000000 | PA      | $10414192.10  | 0.34%             | 2029-05-17      | Fixed         | 5.41%                 | Yes           |                  2 | On Loan: No      |
| Neuberger Berman Loan Advisers CLO 42 Ltd.                           | Neuberger Berman Loan Advisers CLO Ltd., Series 2021-42A, Class AR                              | CUSIP: 64133WAL9<br>LEI: 549300LGCRX4YI1JNS93 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $4996520.00   | 0.16%             | 2036-07-16      | Floating      | 4.84%                 | Yes           |                  2 | On Loan: No      |
| New Century Home Equity Loan Trust                                   | New Century Home Equity Loan Trust, Series 2003-5, Class AII                                    | CUSIP: 64352VEG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     94477 | PA      | $61268.94     | 0.00%             | 2033-11-25      | Floating      | 1.07%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                  | New Residential Mortgage Loan Trust, Series 2018-4A, Class A1S                                  | CUSIP: 64828FCQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    715294 | PA      | $702753.48    | 0.02%             | 2048-01-25      | Floating      | 4.82%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                  | New Residential Mortgage Loan Trust, Series 2022-SFR2, Class B                                  | CUSIP: 64830RAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  13306000 | PA      | $13077500.05  | 0.43%             | 2039-09-04      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                  | New Residential Mortgage Loan Trust, Series 2024-RTL2, Class A1                                 | CUSIP: 64831WAA8<br>LEI: 213800H34ZKQ2LAZZL53 | Long             | ABS-MBS          | CORP              | US        |   3960000 | PA      | $3989680.60   | 0.13%             | 2039-09-25      | Variable      | 5.44%                 | Yes           |                  2 | On Loan: No      |
| Nomura Asset Acceptance Corp. Alternative Loan Trust                 | Nomura Asset Acceptance Corp. Alternative Loan Trust, Series 2003-A3, Class A1                  | CUSIP: 65535VBZ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    104796 | PA      | $106842.86    | 0.00%             | 2033-08-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd.                                                         | OCP CLO Ltd., Series 2015-9A, Class AR3                                                         | CUSIP: 67091YBE3<br>LEI: 254900XV0U0WEM36A370 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $4987100.00   | 0.16%             | 2037-01-15      | Floating      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| OCP CLO Ltd.                                                         | OCP CLO Ltd., Series 2018-15A, Class BR                                                         | CUSIP: 67112KAH2<br>LEI: 254900WK4JKXAXOKTL68 | Long             | ABS-CBDO         | CORP              | KY        |   2850000 | PA      | $2848438.20   | 0.09%             | 2038-01-20      | Floating      | 5.48%                 | Yes           |                  2 | On Loan: No      |
| OCP CLO Ltd.                                                         | OCP CLO Ltd., Series 2023-26A, Class AR                                                         | CUSIP: 67116HAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   5000000 | PA      | $4995015.00   | 0.16%             | 2037-04-17      | Floating      | 4.96%                 | Yes           |                  2 | On Loan: No      |
| NYMT Loan Trust                                                      | NYMT Loan Trust, Series 2024-BPL3, Class A1                                                     | CUSIP: 67119RAA5<br>LEI: 254900Q6RDCV3HGA6340 | Long             | ABS-MBS          | CORP              | US        |   1055000 | PA      | $1056661.10   | 0.03%             | 2039-09-25      | Variable      | 5.27%                 | Yes           |                  2 | On Loan: No      |
| OBX Trust                                                            | OBX Trust, Series 2025-NQM10, Class A1                                                          | CUSIP: 67121LAA4<br>LEI: 254900NDJVO62R77II89 | Long             | ABS-MBS          | CORP              | US        |   5425801 | PA      | $5483391.62   | 0.18%             | 2065-05-25      | Variable      | 5.45%                 | Yes           |                  2 | On Loan: No      |
| OBX Trust                                                            | OBX Trust, Series 2024-NQM15, Class A1                                                          | CUSIP: 67449DAA7<br>LEI: 254900YXEB756F6RCA13 | Long             | ABS-MBS          | CORP              | US        |   2240384 | PA      | $2247761.46   | 0.07%             | 2064-10-25      | Variable      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| OCP CLO Ltd.                                                         | OCP CLO Ltd., Series 2025-44A, Class A                                                          | CUSIP: 67570UAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $10016940.00  | 0.33%             | 2038-10-24      | Floating      | 5.56%                 | Yes           |                  2 | On Loan: No      |
| OAKST Commercial Mortgage Trust                                      | OAKST Commercial Mortgage Trust, Series 2023-NLP, Class A                                       | CUSIP: 67630KAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1999393.80   | 0.07%             | 2040-03-15      | Variable      | 6.30%                 | Yes           |                  2 | On Loan: No      |
| One Bryant Park Trust                                                | One Bryant Park Trust, Series 2019-OBP, Class A                                                 | CUSIP: 68236JAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $4642473.00   | 0.15%             | 2054-09-15      | Fixed         | 2.52%                 | Yes           |                  2 | On Loan: No      |
| ONE Mortgage Trust                                                   | ONE Mortgage Trust, Series 2021-PARK, Class A                                                   | CUSIP: 682413AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7000000 | PA      | $6881476.70   | 0.23%             | 2036-03-15      | Floating      | 4.77%                 | Yes           |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                     | OneMain Financial Issuance Trust, Series 2020-2A, Class B                                       | CUSIP: 682696AB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1132000 | PA      | $1087878.38   | 0.04%             | 2035-09-14      | Fixed         | 2.21%                 | Yes           |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                     | OneMain Financial Issuance Trust, Series 2019-2A, Class A                                       | CUSIP: 68269BAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $590804.40    | 0.02%             | 2036-10-14      | Fixed         | 3.14%                 | Yes           |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                     | OneMain Financial Issuance Trust, Series 2021-1A, Class A1                                      | CUSIP: 68269MAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $4848597.50   | 0.16%             | 2036-06-16      | Fixed         | 1.55%                 | Yes           |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                     | OneMain Financial Issuance Trust, Series 2021-1A, Class B                                       | CUSIP: 68269MAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3940000 | PA      | $3721760.64   | 0.12%             | 2036-06-16      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Onity Loan Investment Trust                                          | Onity Loan Investment Trust, Series 2025-HB1, Class A                                           | CUSIP: 68278EAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1669955 | PA      | $1634597.62   | 0.05%             | 2038-06-25      | Variable      | 3.00%                 | Yes           |                  3 | On Loan: No      |
| Oportun Funding Trust                                                | Oportun Funding Trust, Series 2025-1, Class A                                                   | CUSIP: 68377PAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    544426 | PA      | $545105.22    | 0.02%             | 2032-08-16      | Fixed         | 4.96%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                                               | Oportun Issuance Trust, Series 2025-A, Class A                                                  | CUSIP: 68377TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3440000 | PA      | $3439942.55   | 0.11%             | 2033-02-08      | Fixed         | 5.01%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                                               | Oportun Issuance Trust, Series 2025-B, Class A                                                  | CUSIP: 68378QAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7250000 | PA      | $7272813.58   | 0.24%             | 2033-05-09      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                                               | Oportun Issuance Trust, Series 2025-C, Class A                                                  | CUSIP: 68378RAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $10013152.00  | 0.33%             | 2033-07-08      | Fixed         | 4.49%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                                               | Oportun Issuance Trust, Series 2025-D, Class B                                                  | CUSIP: 68379HAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6300000 | PA      | $6302177.28   | 0.21%             | 2033-02-08      | Fixed         | 5.31%                 | Yes           |                  2 | On Loan: No      |
| PEAC Solutions Receivables LLC                                       | PEAC Solutions Receivables LLC, Series 2024-2A, Class A2                                        | CUSIP: 69392BAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    949351 | PA      | $951207.51    | 0.03%             | 2027-04-20      | Fixed         | 4.74%                 | Yes           |                  2 | On Loan: No      |
| PRET Trust                                                           | PRET Trust, Series 2024-RPL2, Class A1                                                          | CUSIP: 69392CAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1754231 | PA      | $1696229.42   | 0.06%             | 2064-06-25      | Variable      | 4.07%                 | Yes           |                  2 | On Loan: No      |
| PRPM LLC                                                             | PRPM LLC, Series 2025-RPL2, Class A1                                                            | CUSIP: 69392MAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4520486 | PA      | $4415093.16   | 0.15%             | 2055-04-25      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Pagaya AI Technology in Housing Trust                                | Pagaya AI Technology in Housing Trust, Series 2023-1, Class A                                   | CUSIP: 69547YAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3412901.80   | 0.11%             | 2040-10-25      | Fixed         | 3.60%                 | Yes           |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd.                                      | Palmer Square Loan Funding Ltd., Series 2022-2A, Class A1                                       | CUSIP: 69701NAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     35305 | PA      | $35294.48     | 0.00%             | 2030-10-15      | Floating      | 5.17%                 | Yes           |                  2 | On Loan: No      |
| Palmer Square CLO Ltd.                                               | Palmer Square CLO Ltd., Series 2021-2A, Class AR1                                               | CUSIP: 69701XAJ3<br>LEI: 254900HTQ89UZTKY6247 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $4996015.00   | 0.16%             | 2038-02-15      | Floating      | 5.15%                 | Yes           |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd.                                      | Palmer Square Loan Funding Ltd., Series 2024-1A, Class A1                                       | CUSIP: 69703NAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3420530 | PA      | $3419538.46   | 0.11%             | 2032-10-15      | Floating      | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd.                                      | Palmer Square Loan Funding Ltd., Series 2024-2A, Class A2                                       | CUSIP: 69703RAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $4998910.00   | 0.16%             | 2033-01-15      | Floating      | 5.35%                 | Yes           |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd.                                      | Palmer Square Loan Funding Ltd., Series 2025-1A, Class A2                                       | CUSIP: 69704CAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4800000 | PA      | $4763404.80   | 0.16%             | 2033-02-15      | Floating      | 5.05%                 | Yes           |                  2 | On Loan: No      |
| Porsche Innovative Lease Owner Trust                                 | Porsche Innovative Lease Owner Trust, Series 2024-2A, Class A3                                  | CUSIP: 73328NAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2405000 | PA      | $2408936.02   | 0.08%             | 2027-10-20      | Fixed         | 4.35%                 | Yes           |                  2 | On Loan: No      |
| Porsche Innovative Lease Owner Trust                                 | Porsche Innovative Lease Owner Trust, Series 2024-2A, Class A4                                  | CUSIP: 73328NAF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2835000 | PA      | $2843305.70   | 0.09%             | 2030-09-20      | Fixed         | 4.26%                 | Yes           |                  2 | On Loan: No      |
| PowerPay Issuance Trust                                              | PowerPay Issuance Trust, Series 2025-1A, Class A                                                | CUSIP: 73940MAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5988722 | PA      | $6008753.25   | 0.20%             | 2041-11-18      | Fixed         | 5.23%                 | Yes           |                  2 | On Loan: No      |
| Prestige Auto Receivables Trust                                      | Prestige Auto Receivables Trust, Series 2024-2A, Class A2                                       | CUSIP: 74113SAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1122253 | PA      | $1122949.00   | 0.04%             | 2028-02-15      | Fixed         | 4.72%                 | Yes           |                  2 | On Loan: No      |
| Prime Mortgage Trust                                                 | Prime Mortgage Trust, Series 2005-2, Class 2A1                                                  | CUSIP: 74160MHU9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    130282 | PA      | $130407.89    | 0.00%             | 2032-10-25      | Variable      | 5.48%                 | No            |                  2 | On Loan: No      |
| PRM7 Trust                                                           | PRM7 Trust, Series 2025-PRM7, Class A                                                           | CUSIP: 74290HAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5855000 | PA      | $5795031.33   | 0.19%             | 2042-11-10      | Variable      | 4.51%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                                           | Progress Residential Trust, Series 2025-SFR4, Class A                                           | CUSIP: 74290JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8000000 | PA      | $7945472.00   | 0.26%             | 2042-08-17      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                                           | Progress Residential Trust, Series 2024-SFR2, Class A                                           | CUSIP: 74290XAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7851144 | PA      | $7597856.66   | 0.25%             | 2041-04-17      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                                           | Progress Residential Trust, Series 2024-SFR1, Class A                                           | CUSIP: 74331QAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5441119 | PA      | $5280299.87   | 0.17%             | 2041-02-17      | Fixed         | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                                           | Progress Residential Trust, Series 2024-SFR3, Class A                                           | CUSIP: 74331VAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  24397062 | PA      | $23288215.19  | 0.77%             | 2041-06-17      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                                           | Progress Residential Trust, Series 2021-SFR9, Class B                                           | CUSIP: 74333QAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4916000 | PA      | $4626851.20   | 0.15%             | 2040-11-17      | Fixed         | 2.26%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                                           | Progress Residential Trust, Series 2021-SFR8, Class A                                           | CUSIP: 74333TAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4391606 | PA      | $4310881.38   | 0.14%             | 2038-10-17      | Fixed         | 1.51%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                                           | Progress Residential Trust, Series 2021-SFR10, Class B                                          | CUSIP: 74333WAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4107574 | PA      | $3912405.74   | 0.13%             | 2040-12-17      | Fixed         | 2.72%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                                           | Progress Residential Trust, Series 2022-SFR1, Class B                                           | CUSIP: 74333YAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $3832915.20   | 0.13%             | 2041-02-17      | Fixed         | 3.11%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                                           | Progress Residential Trust, Series 2025-SFR3, Class A                                           | CUSIP: 74334BAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $9574860.00   | 0.32%             | 2042-07-17      | Fixed         | 3.39%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                                           | Progress Residential Trust, Series 2025-SFR2, Class A                                           | CUSIP: 74334GAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11966534 | PA      | $11428433.29  | 0.38%             | 2042-04-17      | Fixed         | 3.31%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                                           | Progress Residential Trust, Series 2024-SFR4, Class A                                           | CUSIP: 74334JAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6878603 | PA      | $6590046.51   | 0.22%             | 2041-07-17      | Fixed         | 3.10%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                                           | Progress Residential Trust, Series 2024-SFR4, Class B                                           | CUSIP: 74334JAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $3825932.80   | 0.13%             | 2041-07-17      | Fixed         | 3.33%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                                           | Progress Residential Trust, Series 2025-SFR5, Class A                                           | CUSIP: 74334RAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  31820000 | PA      | $30923299.67  | 1.02%             | 2042-10-17      | Fixed         | 3.85%                 | Yes           |                  2 | On Loan: No      |
| RCKTL                                                                | RCKTL, Series 2025-2A, Class B                                                                  | CUSIP: 74939HAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3400000 | PA      | $3402288.54   | 0.11%             | 2034-11-27      | Fixed         | 4.60%                 | Yes           |                  2 | On Loan: No      |
| RFMSI Trust                                                          | RFMSI Trust, Series 2006-SA4, Class 2A1                                                         | CUSIP: 74958CAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    105366 | PA      | $88714.42     | 0.00%             | 2036-11-25      | Variable      | 5.43%                 | No            |                  2 | On Loan: No      |
| ROCK Trust                                                           | ROCK Trust, Series 2024-CNTR, Class A                                                           | CUSIP: 74970WAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2380000 | PA      | $2454686.54   | 0.08%             | 2041-11-13      | Fixed         | 5.39%                 | Yes           |                  2 | On Loan: No      |
| RFM Re-REMIC Trust                                                   | RFM Re-REMIC Trust, Series 2022-FRR1, Class AB60                                                | CUSIP: 74971BBP9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $3865888.40   | 0.13%             | 2049-11-08      | Variable      | 2.33%                 | Yes           |                  3 | On Loan: No      |
| Reach ABS Trust                                                      | Reach ABS Trust, Series 2025-1A, Class A                                                        | CUSIP: 75525PAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    473195 | PA      | $474429.94    | 0.02%             | 2032-08-16      | Fixed         | 4.96%                 | Yes           |                  2 | On Loan: No      |
| Regional Management Issuance Trust                                   | Regional Management Issuance Trust, Series 2024-1, Class A                                      | CUSIP: 758983AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5899000 | PA      | $6015396.71   | 0.20%             | 2036-07-15      | Fixed         | 5.83%                 | Yes           |                  2 | On Loan: No      |
| Regional Management Issuance Trust                                   | Regional Management Issuance Trust, Series 2022-1, Class C                                      | CUSIP: 75907DAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1334000 | PA      | $1326130.07   | 0.04%             | 2032-03-15      | Fixed         | 4.46%                 | Yes           |                  2 | On Loan: No      |
| Regional Management Issuance Trust                                   | Regional Management Issuance Trust, Series 2021-2, Class A                                      | CUSIP: 75907UAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $5800567.80   | 0.19%             | 2033-08-15      | Fixed         | 1.90%                 | Yes           |                  2 | On Loan: No      |
| Regional Management Issuance Trust                                   | Regional Management Issuance Trust, Series 2025-1, Class A                                      | CUSIP: 75908AAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4055000 | PA      | $4081851.40   | 0.13%             | 2034-04-17      | Fixed         | 4.99%                 | Yes           |                  2 | On Loan: No      |
| Republic Finance Issuance Trust                                      | Republic Finance Issuance Trust, Series 2025-A, Class A                                         | CUSIP: 76042FAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $10021675.00  | 0.33%             | 2034-11-20      | Fixed         | 4.59%                 | Yes           |                  2 | On Loan: No      |
| RASC Trust                                                           | RASC Trust, Series 2003-KS4, Class MI2                                                          | CUSIP: 76110WRW8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    522587 | PA      | $444002.04    | 0.01%             | 2033-06-25      | Variable      | 5.01%                 | No            |                  2 | On Loan: No      |
| RFMSI Trust                                                          | RFMSI Trust, Series 2005-SA2, Class 2A2                                                         | CUSIP: 76111XVG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    201902 | PA      | $191910.56    | 0.01%             | 2035-06-25      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| Roc Mortgage Trust                                                   | Roc Mortgage Trust, Series 2025-RTL1, Class A1                                                  | CUSIP: 77119RAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1004729.20   | 0.03%             | 2040-02-25      | Variable      | 5.62%                 | Yes           |                  2 | On Loan: No      |
| RWC Commercial Mortgage Trust                                        | RWC Commercial Mortgage Trust, Series 2025-1, Class A                                           | CUSIP: 78348LAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3825000 | PA      | $3835768.52   | 0.13%             | 2040-06-25      | Fixed         | 5.01%                 | Yes           |                  2 | On Loan: No      |
| SCF Equipment Leasing LLC                                            | SCF Equipment Leasing LLC, Series 2024-1A, Class A3                                             | CUSIP: 783896AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1175000 | PA      | $1195181.92   | 0.04%             | 2032-01-20      | Fixed         | 5.52%                 | Yes           |                  2 | On Loan: No      |
| SBNA Auto Lease Trust                                                | SBNA Auto Lease Trust, Series 2024-C, Class A3                                                  | CUSIP: 78398DAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    936906 | PA      | $938899.80    | 0.03%             | 2028-02-22      | Fixed         | 4.56%                 | Yes           |                  2 | On Loan: No      |
| SCG Trust                                                            | SCG Trust, Series 2025-SNIP, Class A                                                            | CUSIP: 78398JAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10000000 | PA      | $10017329.00  | 0.33%             | 2042-09-15      | Floating      | 5.46%                 | Yes           |                  2 | On Loan: No      |
| SCF Equipment Leasing LLC                                            | SCF Equipment Leasing LLC, Series 2025-1A, Class A2                                             | CUSIP: 78437DAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1727068 | PA      | $1732369.48   | 0.06%             | 2030-07-22      | Fixed         | 4.82%                 | Yes           |                  2 | On Loan: No      |
| SBNA Auto Lease Trust                                                | SBNA Auto Lease Trust, Series 2025-A, Class A3                                                  | CUSIP: 78437KAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2012666.40   | 0.07%             | 2028-04-20      | Fixed         | 4.83%                 | Yes           |                  2 | On Loan: No      |
| SCF Equipment Leasing LLC                                            | SCF Equipment Leasing LLC, Series 2025-2A, Class B                                              | CUSIP: 78439XAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5500000 | PA      | $5495608.80   | 0.18%             | 2036-06-20      | Fixed         | 4.51%                 | Yes           |                  2 | On Loan: No      |
| SMRT                                                                 | SMRT, Series 2022-MINI, Class A                                                                 | CUSIP: 78457JAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $4992222.50   | 0.16%             | 2039-01-15      | Floating      | 4.96%                 | Yes           |                  2 | On Loan: No      |
| SMR Mortgage Trust                                                   | SMR Mortgage Trust, Series 2022-IND, Class A                                                    | CUSIP: 78458MAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7325417 | PA      | $7324941.01   | 0.24%             | 2039-02-15      | Floating      | 5.61%                 | Yes           |                  2 | On Loan: No      |
| STWD Mortgage Trust                                                  | STWD Mortgage Trust, Series 2021-LIH, Class B                                                   | CUSIP: 78486EAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |   2300000 | PA      | $2294278.29   | 0.08%             | 2036-11-15      | Floating      | 5.73%                 | Yes           |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                                      | Santander UK Group Holdings plc                                                                 | CUSIP: 80281LAX3<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   4405000 | PA      | $4409853.30   | 0.15%             | 2029-09-22      | Variable      | 4.32%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes                              | Santander Bank Auto Credit-Linked Notes, Series 2024-A, Class C                                 | CUSIP: 80290CCK8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4927504 | PA      | $4990678.56   | 0.16%             | 2032-06-15      | Fixed         | 5.82%                 | Yes           |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                               | Santander Drive Auto Receivables Trust, Series 2025-4, Class C                                  | CUSIP: 802923AE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1140000 | PA      | $1142738.28   | 0.04%             | 2032-01-15      | Fixed         | 4.52%                 | No            |                  2 | On Loan: No      |
| SDR Commercial Mortgage Trust                                        | SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A                                        | CUSIP: 811304AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $5000898.50   | 0.16%             | 2039-05-15      | Floating      | 5.35%                 | Yes           |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                               | Sequoia Mortgage Trust, Series 2003-3, Class A2                                                 | CUSIP: 81743PAU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     26411 | PA      | $24364.53     | 0.00%             | 2033-07-20      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                               | Sequoia Mortgage Trust, Series 11, Class A                                                      | CUSIP: 81744AAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4752 | PA      | $4167.27      | 0.00%             | 2032-12-20      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                               | Sequoia Mortgage Trust, Series 2004-11, Class A2                                                | CUSIP: 81744FFK8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    144759 | PA      | $138364.53    | 0.00%             | 2034-12-20      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Sierra Timeshare Receivables Funding LLC                             | Sierra Timeshare Receivables Funding LLC, Series 2025-3A, Class A                               | CUSIP: 82650FAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3261457 | PA      | $3273054.37   | 0.11%             | 2044-08-22      | Fixed         | 4.44%                 | Yes           |                  2 | On Loan: No      |
| Sierra Timeshare Receivables Funding LLC                             | Sierra Timeshare Receivables Funding LLC, Series 2025-1A, Class A                               | CUSIP: 82653CAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2116772 | PA      | $2134745.97   | 0.07%             | 2042-01-21      | Fixed         | 4.81%                 | Yes           |                  2 | On Loan: No      |
| Sierra Timeshare Receivables Funding LLC                             | Sierra Timeshare Receivables Funding LLC, Series 2025-2A, Class A                               | CUSIP: 82653HAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2312383 | PA      | $2327408.41   | 0.08%             | 2044-04-20      | Fixed         | 4.72%                 | Yes           |                  2 | On Loan: No      |
| SoFi Professional Loan Program Trust                                 | SoFi Professional Loan Program Trust, Series 2021-B, Class AFX                                  | CUSIP: 83405NAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2035416 | PA      | $1796543.47   | 0.06%             | 2047-02-15      | Fixed         | 1.14%                 | Yes           |                  2 | On Loan: No      |
| SoFi Consumer Loan Program Trust                                     | SoFi Consumer Loan Program Trust, Series 2025-1, Class A                                        | CUSIP: 83406YAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1979683 | PA      | $1986140.53   | 0.07%             | 2034-02-27      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| STAR Trust                                                           | STAR Trust, Series 2025-SFR5, Class A                                                           | CUSIP: 85520CAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    998682 | PA      | $1001015.78   | 0.03%             | 2042-02-17      | Floating      | 5.41%                 | Yes           |                  2 | On Loan: No      |
| STAR Trust                                                           | STAR Trust, Series 2025-SFR6, Class A                                                           | CUSIP: 85520EAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5009375.00   | 0.17%             | 2042-08-17      | Floating      | 5.36%                 | Yes           |                  2 | On Loan: No      |
| Stellantis Financial Underwritten Enhanced Lease Trust               | Stellantis Financial Underwritten Enhanced Lease Trust, Series 2025-AA, Class A3                | CUSIP: 858928AD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4825000 | PA      | $4856922.20   | 0.16%             | 2028-07-20      | Fixed         | 4.47%                 | Yes           |                  2 | On Loan: No      |
| Stellantis Financial Underwritten Enhanced Lease Trust               | Stellantis Financial Underwritten Enhanced Lease Trust, Series 2025-AA, Class B                 | CUSIP: 858928AF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12358000 | PA      | $12502390.87  | 0.41%             | 2029-04-20      | Fixed         | 4.74%                 | Yes           |                  2 | On Loan: No      |
| Street Capital Group, Inc.                                           | Street Capital Group, Inc.                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | CA        |   1205411 | PA      | $1205410.84   | 0.04%             | 2030-02-15      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| Structured Asset Mortgage Investments Trust                          | Structured Asset Mortgage Investments Trust, Series 2002-AR2, Class A3                          | CUSIP: 86358HNR6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     85082 | PA      | $50221.92     | 0.00%             | 2032-07-19      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Amortizing Residential Collateral Trust                              | Amortizing Residential Collateral Trust, Series 2002-BC9, Class M1                              | CUSIP: 86359AFD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    953695 | PA      | $924172.39    | 0.03%             | 2032-12-25      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Corp. Mortgage Pass-Through Certificates | Structured Asset Securities Corp. Mortgage Pass-Through Certificates, Series 2003-24A, Class 2A | CUSIP: 86359AG64<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    210880 | PA      | $206792.13    | 0.01%             | 2033-07-25      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Corp. Mortgage Pass-Through Certificates | Structured Asset Securities Corp. Mortgage Pass-Through Certificates, Series 2003-40A, Class 4A | CUSIP: 86359BEP2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     47818 | PA      | $46603.01     | 0.00%             | 2034-01-25      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Structured Asset Mortgage Investments II Trust                       | Structured Asset Mortgage Investments II Trust, Series 2004-AR1, Class 1A1                      | CUSIP: 86359LAP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     17242 | PA      | $16364.50     | 0.00%             | 2034-03-19      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| TCI-Flatiron CLO Ltd.                                                | TCI-Flatiron CLO Ltd., Series 2018-1A, Class AR2                                                | CUSIP: 87232CAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3990423 | PA      | $3988719.12   | 0.13%             | 2035-07-29      | Floating      | 4.79%                 | Yes           |                  2 | On Loan: No      |
| Tesla Lease Electric Vehicle Securitization LLC                      | Tesla Lease Electric Vehicle Securitization LLC, Series 2025-A, Class A4                        | CUSIP: 88162VAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6032454.00   | 0.20%             | 2029-05-21      | Fixed         | 4.37%                 | Yes           |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                                               | Tesla Auto Lease Trust, Series 2024-A, Class B                                                  | CUSIP: 88166VAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3018081.30   | 0.10%             | 2028-05-22      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                                               | Tesla Auto Lease Trust, Series 2024-B, Class A4                                                 | CUSIP: 881934AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6500000 | PA      | $6545089.20   | 0.22%             | 2028-06-20      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Thornburg Mortgage Securities Trust                                  | Thornburg Mortgage Securities Trust, Series 2004-4, Class 5A                                    | CUSIP: 885220GK3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    999194 | PA      | $882964.64    | 0.03%             | 2044-12-25      | Variable      | 2.32%                 | No            |                  2 | On Loan: No      |
| Toorak Mortgage Trust                                                | Toorak Mortgage Trust, Series 2025-RRTL1, Class A1                                              | CUSIP: 89053JAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $1056888.21   | 0.03%             | 2040-02-25      | Variable      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                            | Towd Point Mortgage Trust, Series 2018-4, Class A1                                              | CUSIP: 89175TAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2225628 | PA      | $2124438.32   | 0.07%             | 2058-06-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Toyota Lease Owner Trust                                             | Toyota Lease Owner Trust, Series 2024-B, Class A3                                               | CUSIP: 891943AD4<br>LEI: 254900R64DFTI1MWY364 | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6005920.20   | 0.20%             | 2027-09-20      | Fixed         | 4.21%                 | Yes           |                  2 | On Loan: No      |
| Toyota Lease Owner Trust                                             | Toyota Lease Owner Trust, Series 2025-B, Class A3                                               | CUSIP: 89240NAD4<br>LEI: 25490023VYI9VGKU0357 | Long             | ABS-O            | CORP              | US        |   9090000 | PA      | $9101649.74   | 0.30%             | 2028-11-20      | Fixed         | 3.96%                 | Yes           |                  2 | On Loan: No      |
| Tricon Residential Trust                                             | Tricon Residential Trust, Series 2025-SFR1, Class A                                             | CUSIP: 895974AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2710988 | PA      | $2712670.28   | 0.09%             | 2042-03-17      | Floating      | 5.06%                 | Yes           |                  2 | On Loan: No      |
| Tricon American Homes                                                | Tricon American Homes, Series 2020-SFR1, Class A                                                | CUSIP: 89613GAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5949833 | PA      | $5841891.14   | 0.19%             | 2038-07-17      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Tricon American Homes Trust                                          | Tricon American Homes Trust, Series 2020-SFR2, Class C                                          | CUSIP: 89613JAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $3794922.00   | 0.13%             | 2039-11-17      | Fixed         | 2.03%                 | Yes           |                  2 | On Loan: No      |
| Tricon Residential Trust                                             | Tricon Residential Trust, Series 2024-SFR1, Class A                                             | CUSIP: 89616UAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1388037 | PA      | $1390406.46   | 0.05%             | 2041-04-17      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| Tricon Residential Trust                                             | Tricon Residential Trust, Series 2024-SFR2, Class A                                             | CUSIP: 89616VAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1644792 | PA      | $1652590.61   | 0.05%             | 2040-06-17      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Truist Bank Auto Credit-Linked Notes                                 | Truist Bank Auto Credit-Linked Notes, Series 2025-1, Class B                                    | CUSIP: 897926CB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8257016 | PA      | $8264143.83   | 0.27%             | 2033-09-26      | Fixed         | 4.73%                 | Yes           |                  2 | On Loan: No      |
| 20 Times Square Trust                                                | 20 Times Square Trust, Series 2018-20TS, Class A                                                | CUSIP: 90137LAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1006928 | PA      | $966650.65    | 0.03%             | 2035-05-15      | Variable      | 3.20%                 | Yes           |                  2 | On Loan: No      |
| UPG HI Issuer Trust                                                  | UPG HI Issuer Trust, Series 2025-2, Class A                                                     | CUSIP: 90321EAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5625000 | PA      | $5636036.25   | 0.19%             | 2047-09-25      | Fixed         | 5.00%                 | Yes           |                  3 | On Loan: No      |
| United States of America                                             | U.S. Treasury Bills                                                                             | CUSIP: 912797SG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   5000000 | PA      | $4973582.45   | 0.16%             | 2026-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Notes                                                                             | CUSIP: 91282CNL1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  73055000 | PA      | $73277589.82  | 2.41%             | 2027-06-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Notes                                                                             | CUSIP: 91282CNV9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  88300000 | PA      | $88441417.75  | 2.91%             | 2027-08-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                                         | Upstart Securitization Trust, Series 2025-3, Class A2                                           | CUSIP: 91684FAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11100000 | PA      | $11108571.42  | 0.37%             | 2035-09-20      | Fixed         | 4.60%                 | Yes           |                  2 | On Loan: No      |
| UPX HIL Issuer Trust                                                 | UPX HIL Issuer Trust, Series 2025-1, Class A                                                    | CUSIP: 916925AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7066795 | PA      | $7108034.63   | 0.23%             | 2047-01-25      | Fixed         | 5.16%                 | Yes           |                  2 | On Loan: No      |
| VOLT C LLC                                                           | VOLT C LLC, Series 2021-NPL9, Class A1                                                          | CUSIP: 91835DAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    558709 | PA      | $558593.01    | 0.02%             | 2051-05-25      | Variable      | 5.99%                 | Yes           |                  2 | On Loan: No      |
| Verdant Receivables LLC                                              | Verdant Receivables LLC, Series 2023-1A, Class A2                                               | CUSIP: 92339GAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1310363 | PA      | $1333155.88   | 0.04%             | 2031-01-13      | Fixed         | 6.24%                 | Yes           |                  2 | On Loan: No      |
| Veros Auto Receivables Trust                                         | Veros Auto Receivables Trust, Series 2023-1, Class B                                            | CUSIP: 924933AB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1205633 | PA      | $1210787.38   | 0.04%             | 2028-11-15      | Fixed         | 7.17%                 | Yes           |                  2 | On Loan: No      |
| Volkswagen Auto Lease Trust                                          | Volkswagen Auto Lease Trust, Series 2025-B, Class A3                                            | CUSIP: 92868BAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  14000000 | PA      | $14032503.80  | 0.46%             | 2029-01-22      | Fixed         | 4.01%                 | No            |                  2 | On Loan: No      |
| VOLT XCV LLC                                                         | VOLT XCV LLC, Series 2021-NPL4, Class A1                                                        | CUSIP: 92873BAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    210941 | PA      | $210929.45    | 0.01%             | 2051-03-27      | Variable      | 6.24%                 | Yes           |                  2 | On Loan: No      |
| Volvo Financial Equipment LLC                                        | Volvo Financial Equipment LLC, Series 2025-2A, Class A3                                         | CUSIP: 92886CAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3502445.80   | 0.12%             | 2029-12-17      | Fixed         | 3.99%                 | Yes           |                  2 | On Loan: No      |
| Volvo Financial Equipment LLC                                        | Volvo Financial Equipment LLC, Series 2025-2A, Class A4                                         | CUSIP: 92886CAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2250000 | PA      | $2249302.73   | 0.07%             | 2033-06-15      | Fixed         | 4.06%                 | Yes           |                  2 | On Loan: No      |
| Volvo Financial Equipment LLC                                        | Volvo Financial Equipment LLC, Series 2024-1A, Class A3                                         | CUSIP: 92887QAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3010192.80   | 0.10%             | 2028-10-16      | Fixed         | 4.29%                 | Yes           |                  2 | On Loan: No      |
| Voya CLO Ltd.                                                        | Voya CLO Ltd., Series 2020-1A, Class ARR                                                        | CUSIP: 92918EAU1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   8000000 | PA      | $7996008.00   | 0.26%             | 2034-07-16      | Floating      | 4.97%                 | Yes           |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                        | WaMu Mortgage Pass-Through Certificates Trust, Series 2004-AR3, Class A1                        | CUSIP: 92922FNH7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    180821 | PA      | $173375.86    | 0.01%             | 2034-06-25      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| WaMu Mortgage Pass-Through Certificates Trust                        | WaMu Mortgage Pass-Through Certificates Trust, Series 2004-AR11, Class A                        | CUSIP: 92922FYA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     84091 | PA      | $82176.75     | 0.00%             | 2034-10-25      | Variable      | 5.98%                 | No            |                  2 | On Loan: No      |
| WHARF Commercial Mortgage Trust                                      | WHARF Commercial Mortgage Trust, Series 2025-DC, Class A                                        | CUSIP: 92987LAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1175000 | PA      | $1215922.90   | 0.04%             | 2040-07-15      | Variable      | 5.53%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                    | Wells Fargo & Co.                                                                               | CUSIP: 95000U4A8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  12460000 | PA      | $12455473.66  | 0.41%             | 2029-09-15      | Variable      | 4.08%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                | Wells Fargo Commercial Mortgage Trust, Series 2021-SAVE, Class A                                | CUSIP: 95003LAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    872769 | PA      | $873544.25    | 0.03%             | 2040-02-15      | Floating      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| Western Funding Auto Loan Trust                                      | Western Funding Auto Loan Trust, Series 2025-1, Class B                                         | CUSIP: 958250AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8600000 | PA      | $8668883.42   | 0.29%             | 2035-09-17      | Fixed         | 4.98%                 | Yes           |                  2 | On Loan: No      |
| Westlake Automobile Receivables Trust                                | Westlake Automobile Receivables Trust, Series 2023-3A, Class A3                                 | CUSIP: 96041CAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     44425 | PA      | $44458.98     | 0.00%             | 2027-05-17      | Fixed         | 5.82%                 | Yes           |                  2 | On Loan: No      |
| Westlake Automobile Receivables Trust                                | Westlake Automobile Receivables Trust, Series 2024-3A, Class B                                  | CUSIP: 96043CAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7480000 | PA      | $7509130.11   | 0.25%             | 2029-11-15      | Fixed         | 4.72%                 | Yes           |                  2 | On Loan: No      |
| Westlake Automobile Receivables Trust                                | Westlake Automobile Receivables Trust, Series 2025-3A, Class A3                                 | CUSIP: 96043QAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6010277.40   | 0.20%             | 2029-06-15      | Fixed         | 4.22%                 | Yes           |                  2 | On Loan: No      |
| Westlake Automobile Receivables Trust                                | Westlake Automobile Receivables Trust, Series 2025-3A, Class C                                  | CUSIP: 96043QAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5200000 | PA      | $5214723.80   | 0.17%             | 2031-07-15      | Fixed         | 4.68%                 | Yes           |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding LLC                                       | Wheels Fleet Lease Funding LLC, Series 2025-1A, Class A1                                        | CUSIP: 96328GCE5<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |   7000000 | PA      | $7047441.80   | 0.23%             | 2040-01-18      | Fixed         | 4.57%                 | Yes           |                  2 | On Loan: No      |
| Wind River CLO Ltd.                                                  | Wind River CLO Ltd., Series 2021-4A, Class AR                                                   | CUSIP: 97316UAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  15000000 | PA      | $14991675.00  | 0.49%             | 2035-01-20      | Floating      | 5.10%                 | Yes           |                  2 | On Loan: No      |
| Wingspire Equipment Finance LLC                                      | Wingspire Equipment Finance LLC, Series 2024-1A, Class A2                                       | CUSIP: 97415AAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2854964 | PA      | $2869740.12   | 0.09%             | 2032-09-20      | Fixed         | 4.99%                 | Yes           |                  2 | On Loan: No      |
| Wingspire Equipment Finance LLC                                      | Wingspire Equipment Finance LLC, Series 2025-1A, Class A2                                       | CUSIP: 97415CAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2545000 | PA      | $2546484.24   | 0.08%             | 2033-09-20      | Fixed         | 4.33%                 | Yes           |                  2 | On Loan: No      |
| World Omni Automobile Lease Securitization Trust                     | World Omni Automobile Lease Securitization Trust, Series 2025-A, Class A3                       | CUSIP: 98164PAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2750000 | PA      | $2769771.40   | 0.09%             | 2028-04-17      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| World Omni Auto Receivables Trust                                    | World Omni Auto Receivables Trust, Series 2024-A, Class A4                                      | CUSIP: 98164RAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2890000 | PA      | $2931510.52   | 0.10%             | 2029-10-15      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| World Omni Auto Receivables Trust                                    | World Omni Auto Receivables Trust, Series 2025-B, Class A3                                      | CUSIP: 98164TAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3795000 | PA      | $3823156.62   | 0.13%             | 2030-09-16      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| World Omni Select Auto Trust                                         | World Omni Select Auto Trust, Series 2025-A, Class A2A                                          | CUSIP: 98164UAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8500000 | PA      | $8503814.80   | 0.28%             | 2030-05-15      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| N/A                                                                  | U.S. Treasury 5 Year Note                                                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |     -1391 | NC      | $-193865.09   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                  | U.S. Treasury 2 Year Note                                                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      2709 | NC      | $-46338.90    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                  | U.S. Treasury 10 Year Note                                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -456 | NC      | $-109293.26   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                  | U.S. Treasury Long Bond                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -67 | NC      | $-61355.38    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                  | U.S. Treasury 10 Year Ultra Note                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -374 | NC      | $-173496.32   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-30

**Name of Applicant:** J.P. Morgan Exchange-Traded Fund Trust

**Signature:** Timothy J. Clemens

**Name of Signer:** Timothy J. Clemens

**Title:** Treasurer and Principal Financial Officer