# EDGAR Filing Document

**Accession Number:** 0001655589
**File Stem:** 0000940400-25-011704
**Filing Date:** 2025-11
**Character Count:** 137333
**Document Hash:** 42a41a39fca1f5dc17844164c76cffdb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-011704.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0000940400-25-011704

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Franklin Templeton ETF Trust
- **CENTRAL INDEX KEY:** 0001655589

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23124
- **FILM NUMBER:** 251535129

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403
- **BUSINESS PHONE:** 650-312-2000

**MAIL ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403

## Series and Classes Contracts Data

### Franklin Income Focus ETF (Series ID: S000080465)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000242870 | Franklin Income Focus ETF |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Franklin Templeton ETF Trust

- **b. Investment Company Act file number:** 811-23124

- **c. CIK number of Registrant:** 0001655589

- **d. LEI of Registrant:** 549300UHXVPT5S43XV04

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

  - **Street Address 1:** One Franklin Parkway

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94403-1906

  - **Telephone number:** 650-312-2000

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

- **a. Name of Series:** Franklin Income Focus ETF

- **b. EDGAR series identifier (if any):** S000080465

- **c. LEI of Series:** 2549002KQZQYC025U655

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $888163230.14

**Total Liabilities:** $28979831.85

**Net Assets:** $859183398.29

**Delayed Delivery Securities:** $4500000.00

**Cash Not Reported:** $97461.22

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 156.62355000 | **1-Year:** 8608.66371000 | **5-Year:** 51478.37592000 | **10-Year:** 8579.62542000 | **30-Year:** 0.00000000

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

- **3-Month:** 570.86143000 | **1-Year:** 15105.15503000 | **5-Year:** 30946.22541000 | **10-Year:** 1972.49041000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000242870 | 0.30%                | 2.80%                | 0.71%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1608031.00             | $311037.73                                 |
| Month 2  | $-1214721.42             | $18584110.68                               |
| Month 3  | $810159.92               | $1564586.76                                |

**Designated Index Information**

- **Index Name:** 50% S&P 500 Index + 50% Bloomberg US Aggregate Index

- **Index Identifier:** HB9876

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Freddie Mac                                            | Freddie Mac Pool                                                            | CUSIP: 3132DWPS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4820185 | PA      | $4863224.93   | 0.57%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                            | Southern Co/The                                                             | CUSIP: 842587EB9<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1066327.00   | 0.12%             | 2055-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS                               | Citigroup Global Markets Holdings Inc/United States                         | CUSIP: 000000000<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |     30000 | PA      | $7861995.74   | 0.92%             | 2026-08-21      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD/LUX CO                               | JBS USA Holding Lux Sarl/ JBS USA Food Co/ JBS Lux Co Sarl                  | CUSIP: 46590XAY2<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    530000 | PA      | $553826.15    | 0.06%             | 2033-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                               | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                        | CUSIP: 983133AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    800000 | PA      | $812940.00    | 0.09%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MIZUHO MARKETS CAYMAN                                  | Mizuho Markets Cayman LP                                                    | CUSIP: 000000000<br>LEI: 549300KHUXLS6Q30KT26 | Long             | DBT              | CORP              | KY        |     14500 | PA      | $5597767.89   | 0.65%             | 2026-07-27      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Xcel Energy Inc                                        | Xcel Energy Inc                                                             | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |     36080 | NS      | $2909852.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| FISERV INC                                             | Fiserv Inc                                                                  | CUSIP: 337738BE7<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    400000 | PA      | $419295.00    | 0.05%             | 2033-03-02      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                                   | Pilgrim's Pride Corp                                                        | CUSIP: 72147KAK4<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1068690.00   | 0.12%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                           | Calpine Corp                                                                | CUSIP: 131347CR5<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $953141.40    | 0.11%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                          | TransDigm Inc                                                               | CUSIP: 893647BW6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2529907.50   | 0.29%             | 2033-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                | Goldman Sachs Group Inc/The                                                 | CUSIP: 38141GA53<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    825000 | PA      | $925264.22    | 0.11%             | 2034-10-24      | Fixed         | 6.56%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                         | Bombardier Inc                                                              | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    600000 | PA      | $636769.36    | 0.07%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp                                  | Truist Financial Corp                                                       | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |    118019 | NS      | $5395828.68   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E CORP                                              | PG&E Corp                                                                   | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $986770.10    | 0.11%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                         | 1261229 BC Ltd                                                              | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $2051684.08   | 0.24%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CONNECT HOLDING II LLC                                 | Connect Holding II LLC                                                      | CUSIP: 20753PAD3<br>LEI: 254900LCX7S2QHYUOI31 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2000025.00   | 0.23%             | 2031-04-03      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                            | CUSIP: 91282CKP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2500000 | PA      | $2580224.60   | 0.30%             | 2029-04-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Illinois Tool Works Inc                                | Illinois Tool Works Inc                                                     | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |     18752 | NS      | $4889771.52   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                | Teva Pharmaceutical Finance Netherlands III BV                              | CUSIP: 88167AAK7<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    600000 | PA      | $623344.80    | 0.07%             | 2028-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                           | Calpine Corp                                                                | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1501875.00   | 0.17%             | 2028-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                          | Citigroup Inc                                                               | CUSIP: 17327CAR4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1596561.35   | 0.19%             | 2034-05-25      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| CHENIERE CORP CHRISTI HD                               | Cheniere Corpus Christi Holdings LLC                                        | CUSIP: 16412XAJ4<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |    800000 | PA      | $777729.54    | 0.09%             | 2029-11-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| MCAFEE CORP                                            | McAfee Corp                                                                 | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1857512.80   | 0.22%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                            | Vistra Corp                                                                 | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2047226.00   | 0.24%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                               | CHS/Community Health Systems Inc                                            | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $1815523.05   | 0.21%             | 2030-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO BANK NA                                    | Wells Fargo Bank NA                                                         | CUSIP: 95003X211<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |     20000 | PA      | $1752227.56   | 0.20%             | 2026-08-10      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                                 | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc          | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1315000 | PA      | $1252607.33   | 0.15%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                                 | Mauser Packaging Solutions Holding Co                                       | CUSIP: 57763RAD9<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2527632.50   | 0.29%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NETFLIX INC                                            | Netflix Inc                                                                 | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    945000 | PA      | $996660.59    | 0.12%             | 2028-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                | United Rentals North America Inc                                            | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    485000 | PA      | $499801.72    | 0.06%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                          | TransDigm Inc                                                               | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3104022.09   | 0.36%             | 2034-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                               | Capital One Financial Corp                                                  | CUSIP: 14040HCS2<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    765000 | PA      | $772983.73    | 0.09%             | 2028-05-10      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                   | Royal Bank of Canada                                                        | CUSIP: 78017L175<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     14400 | PA      | $2407062.28   | 0.28%             | 2026-05-13      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                   | Bank of America Corp                                                        | CUSIP: 06051GKQ1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1500233.97   | 0.17%             | 2033-04-27      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| BAUSCH + LOMB CORP                                     | Bausch + Lomb Corp                                                          | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |    675000 | PA      | $704320.31    | 0.08%             | 2028-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                            | CUSIP: 3132DWMY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1834853 | PA      | $1852263.59   | 0.22%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY INC                                     | NextEra Energy Inc                                                          | CUSIP: 65339F119<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |     85137 | NS      | $4003993.11   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                               | Vistra Operations Co LLC                                                    | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    500000 | PA      | $529458.50    | 0.06%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                     | Ford Motor Co                                                               | CUSIP: 345370DB3<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2356888.73   | 0.27%             | 2032-08-19      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co/The                                | Procter & Gamble Co/The                                                     | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     78897 | NS      | $12122524.05  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                             | CUSIP: 31418ER77<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    919057 | PA      | $915973.25    | 0.11%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                      | Kinder Morgan Inc                                                           | CUSIP: 494553AE0<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    775000 | PA      | $799327.07    | 0.09%             | 2034-02-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                | Dell International LLC / EMC Corp                                           | CUSIP: 24703DBL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $317416.09    | 0.04%             | 2033-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| EXPEDIA GROUP INC                                      | Expedia Group Inc                                                           | CUSIP: 30212PAP0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    525000 | PA      | $520556.05    | 0.06%             | 2028-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                      | Kinder Morgan Inc                                                           | CUSIP: 49456BAX9<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    515000 | PA      | $527543.50    | 0.06%             | 2033-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                          | CUSIP: 3618N5TP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2492730 | PA      | $2539101.42   | 0.30%             | 2055-08-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                             | DaVita Inc                                                                  | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   1520000 | PA      | $1457982.31   | 0.17%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                                    | Dominion Energy Inc                                                         | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     78396 | NS      | $4795483.32   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                              | Shell PLC                                                                   | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     99356 | NS      | $7106934.68   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO BANK NA                                    | Wells Fargo Bank NA                                                         | CUSIP: 95003X559<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |     33000 | PA      | $3006205.75   | 0.35%             | 2026-05-13      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                  | Caesars Entertainment Inc                                                   | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    855000 | PA      | $818115.56    | 0.10%             | 2029-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                             | AbbVie Inc                                                                  | CUSIP: 00287YCY3<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    520000 | PA      | $512082.27    | 0.06%             | 2035-03-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                                 | Mauser Packaging Solutions Holding Co                                       | CUSIP: 57763RAC1<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3009399.00   | 0.35%             | 2027-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                               | CHS/Community Health Systems Inc                                            | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10603470.00  | 1.23%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| Chevron Corp                                           | Chevron Corp                                                                | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    118709 | NS      | $18434320.61  | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                                  | Wells Fargo & Co                                                            | CUSIP: 95000U3D3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1101000 | PA      | $1144360.11   | 0.13%             | 2034-04-24      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| TRONOX INC                                             | Tronox Inc                                                                  | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $979907.55    | 0.11%             | 2029-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                    | JPMorgan Chase & Co                                                         | CUSIP: 48128AAJ2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2072488.00   | 0.24%             | N/A             | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                                   | Freeport-McMoRan Inc                                                        | CUSIP: 35671DBJ3<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    775000 | PA      | $794754.52    | 0.09%             | 2034-11-14      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                 | CCO Holdings LLC / CCO Holdings Capital Corp                                | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1152416.40   | 0.13%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Philip Morris International In                         | Philip Morris International Inc                                             | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     60889 | NS      | $9876195.80   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ARDAGH METAL PACKAGING                                 | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1150000 | PA      | $1065269.91   | 0.12%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nestle SA                                              | Nestle SA                                                                   | CUSIP: 641069406<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     24960 | NS      | $2290579.20   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                             | CUSIP: 3140XPBW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1392828 | PA      | $1387436.27   | 0.16%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                                              | CUSIP: 61747YEY7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1148000 | PA      | $1262060.87   | 0.15%             | 2033-10-18      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                           | Calpine Corp                                                                | CUSIP: 131347CP9<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    750000 | PA      | $743218.73    | 0.09%             | 2029-02-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FUNDING LLC                                 | NXP BV / NXP Funding LLC                                                    | CUSIP: 62947QBC1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    500000 | PA      | $517696.10    | 0.06%             | 2028-12-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                            | Oracle Corp                                                                 | CUSIP: 68389XCJ2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    720000 | PA      | $782687.10    | 0.09%             | 2032-11-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                              | Boeing Co/The                                                               | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   3060000 | PA      | $3141084.19   | 0.37%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                  | Tenet Healthcare Corp                                                       | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2590184.43   | 0.30%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                            | CUSIP: 3132DWNK5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1893064 | PA      | $1910410.55   | 0.22%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                          | CUSIP: 36180AAE3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2860480 | PA      | $2849807.28   | 0.33%             | 2054-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                    | JPMorgan Chase & Co                                                         | CUSIP: 46647PEA0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    980000 | PA      | $991279.38    | 0.12%             | 2028-01-23      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| FRESENIUS MED CARE III                                 | Fresenius Medical Care US Finance III Inc                                   | CUSIP: 35805BAB4<br>LEI: 5299006ZHLMXOOUVTU44 | Long             | DBT              | CORP              | US        |    645000 | PA      | $569726.06    | 0.07%             | 2031-02-16      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                               | CHS/Community Health Systems Inc                                            | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5128750.00   | 0.60%             | 2034-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK NA                                | JPMorgan Chase Bank NA                                                      | CUSIP: 4662AA547<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | DBT              | CORP              | US        |     17000 | PA      | $3867605.04   | 0.45%             | 2026-02-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                          | Carnival Corp                                                               | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   2000000 | PA      | $2051332.00   | 0.24%             | 2033-02-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                 | UBS AG                                                                      | CUSIP: 90301T830<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | DBT              | CORP              | CH        |     60000 | PA      | $2968551.92   | 0.35%             | 2026-01-28      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                         | NRG Energy Inc                                                              | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1538574.00   | 0.18%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS                               | Citigroup Global Markets Holdings Inc/United States                         | CUSIP: 17331V485<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |      9500 | PA      | $1677237.56   | 0.20%             | 2025-12-08      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                   | Cleveland-Cliffs Inc                                                        | CUSIP: 185899AN1<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1017155.00   | 0.12%             | 2030-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ALBEMARLE CORP                                         | Albemarle Corp                                                              | CUSIP: 012653200<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EP               | CORP              | US        |    143181 | NS      | $5423696.28   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                               | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                   | CUSIP: 00774MBC8<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    500000 | PA      | $518191.01    | 0.06%             | 2028-06-06      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMZN TD BNK ELN 10/13/26                               | AMZN TD BNK ELN 10/13/26                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     11000 | PA      | $2408725.00   | 0.28%             | 2026-10-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                 | CCO Holdings LLC / CCO Holdings Capital Corp                                | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1988159.40   | 0.23%             | 2027-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK NA                                | JPMorgan Chase Bank NA                                                      | CUSIP: 4662AA521<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | DBT              | CORP              | US        |     11000 | PA      | $2120757.11   | 0.25%             | 2026-01-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                          | Carnival Corp                                                               | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   2500000 | PA      | $2547320.00   | 0.30%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                          | Citigroup Inc                                                               | CUSIP: 172967PA3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    500000 | PA      | $545840.76    | 0.06%             | 2033-11-17      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                               | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                   | CUSIP: 00774MBM6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    750000 | PA      | $747014.86    | 0.09%             | 2034-09-10      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                             | CUSIP: 31418FED5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1845444 | PA      | $1862771.81   | 0.22%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Franklin Institutional US Government Money Market Fund | Franklin Institutional US Government Money Market Fund                      | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | STIV             | RF                | US        |  25480658 | NS      | $25480657.84  | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| NCL CORPORATION LTD                                    | NCL Corp Ltd                                                                | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    300000 | PA      | $308716.98    | 0.04%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RR DONNELLEY & SONS CO                                 | RR Donnelley & Sons Co                                                      | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2051580.00   | 0.24%             | 2029-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                            | CUSIP: 912810UE6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1926250.00   | 0.22%             | 2054-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                          | CommScope LLC                                                               | CUSIP: 20338MAA0<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   5800000 | PA      | $6007210.80   | 0.70%             | 2031-12-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                  | Quikrete Holdings Inc                                                       | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1036624.00   | 0.12%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                          | CUSIP: 3618N5MR7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    864968 | PA      | $880841.28    | 0.10%             | 2055-05-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co/The                                       | Coca-Cola Co/The                                                            | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     99455 | NS      | $6595855.60   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                          | CUSIP: 3618N5VR7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5000000 | PA      | $5047089.70   | 0.59%             | 2055-09-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALUMET SPECIALTY PROD                                 | Calumet Specialty Products Partners LP / Calumet Finance Corp               | CUSIP: 131477AX9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $307500.00    | 0.04%             | 2029-07-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| HEALTHPEAK OP LLC                                      | Healthpeak OP LLC                                                           | CUSIP: 42250PAE3<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              | CORP              | US        |    500000 | PA      | $514488.34    | 0.06%             | 2032-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS                               | Citigroup Global Markets Holdings Inc/United States                         | CUSIP: 000000000<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |     50000 | PA      | $1929572.79   | 0.22%             | 2026-06-09      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                    | Dominion Energy Inc                                                         | CUSIP: 25746UDG1<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    300000 | PA      | $288289.17    | 0.03%             | 2030-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS ISSUANCE BV                                | BNP Paribas Issuance BV                                                     | CUSIP: 000000000<br>LEI: 7245009UXRIGIRYOBR48 | Long             | DBT              | CORP              | NL        |     12500 | PA      | $3122947.46   | 0.36%             | 2026-02-04      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                 | General Motors Financial Co Inc                                             | CUSIP: 37045XED4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2145428.26   | 0.25%             | 2033-01-09      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| FORTESCUE TREASURY PTY L                               | Fortescue Treasury Pty Ltd                                                  | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   1000000 | PA      | $955432.50    | 0.11%             | 2031-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC                                    | Ashtead Capital Inc                                                         | CUSIP: 045054AL7<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    550000 | PA      | $542667.05    | 0.06%             | 2029-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SEC CORP                                   | BNP PARIBAS SEC CORP                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    110000 | PA      | $8312263.01   | 0.97%             | 2026-10-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp                                       | Exxon Mobil Corp                                                            | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    123805 | NS      | $13959013.75  | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BAT CAPITAL CORP                                       | BAT Capital Corp                                                            | CUSIP: 054989AB4<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    500000 | PA      | $549104.40    | 0.06%             | 2033-08-02      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                       | Crown Castle Inc                                                            | CUSIP: 22822VBC4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    300000 | PA      | $303737.60    | 0.04%             | 2033-05-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                 | UBS AG                                                                      | CUSIP: 90304M253<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | DBT              | CORP              | CH        |      7500 | PA      | $1910678.92   | 0.22%             | 2026-07-13      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                            | BNP Paribas SA                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |     25000 | PA      | $4671994.98   | 0.54%             | 2026-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                       | T-Mobile USA Inc                                                            | CUSIP: 87264ACY9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    900000 | PA      | $919602.95    | 0.11%             | 2033-07-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| MERRILL LYNCH BV                                       | Merrill Lynch BV                                                            | CUSIP: 000000000<br>LEI: 549300RQ1D1WIE085245 | Long             | DBT              | CORP              | NL        |     11000 | PA      | $3672149.85   | 0.43%             | 2026-07-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                            | CUSIP: 3132DWNY5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2414808 | PA      | $2470676.29   | 0.29%             | 2055-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARES MANAGEMENT CORP                                   | Ares Management Corp                                                        | CUSIP: 03990B309<br>LEI: 529900JUV61FH7B8VW38 | Long             | EP               | CORP              | US        |     15600 | NS      | $775164.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International Inc                             | Mondelez International Inc                                                  | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     52872 | NS      | $3302913.84   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| REGAL REXNORD CORP                                     | Regal Rexnord Corp                                                          | CUSIP: 758750AP8<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    500000 | PA      | $537011.50    | 0.06%             | 2033-04-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                      | Barclays Bank PLC                                                           | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |     25000 | PA      | $3399744.02   | 0.40%             | 2026-09-08      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                  | Toronto-Dominion Bank/The                                                   | CUSIP: 89116B653<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     34000 | PA      | $2919888.03   | 0.34%             | 2026-01-12      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Merck & Co Inc                                         | Merck & Co Inc                                                              | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    161743 | NS      | $13575089.99  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS                               | Citigroup Global Markets Holdings Inc/United States                         | CUSIP: 17332B173<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |     40000 | PA      | $1984421.86   | 0.23%             | 2026-02-18      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                      | Newell Brands Inc                                                           | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    750000 | PA      | $795177.00    | 0.09%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| RTX Corp                                               | RTX Corp                                                                    | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     39235 | NS      | $6565192.55   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                  | Venture Global Plaquemines LNG LLC                                          | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2258666.56   | 0.26%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Air Products and Chemicals Inc                         | Air Products and Chemicals Inc                                              | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |     21276 | NS      | $5802390.72   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                            | CUSIP: 3132DWNX7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1196560 | PA      | $1207523.90   | 0.14%             | 2055-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                    | JPMorgan Chase & Co                                                         | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     52869 | NS      | $16676468.67  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| OPAL BIDCO                                             | Opal Bidco SAS                                                              | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |   2000000 | PA      | $2051252.00   | 0.24%             | 2032-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ARCELORMITTAL SA                                       | ArcelorMittal SA                                                            | CUSIP: 03938LBF0<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |    485000 | PA      | $539807.74    | 0.06%             | 2032-11-29      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                 | Cloud Software Group Inc                                                    | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    900000 | PA      | $909108.28    | 0.11%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                 | PNC Financial Services Group Inc/The                                        | CUSIP: 693475BM6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    510000 | PA      | $520542.57    | 0.06%             | 2034-01-24      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                                | American Electric Power Co Inc                                              | CUSIP: 025537AX9<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    300000 | PA      | $315517.17    | 0.04%             | 2033-03-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                             | DaVita Inc                                                                  | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    500000 | PA      | $516913.00    | 0.06%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TRONOX INC                                             | Tronox Inc                                                                  | CUSIP: 897051AD0<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $980348.29    | 0.11%             | 2030-09-30      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                             | DaVita Inc                                                                  | CUSIP: 23918KAY4<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1032038.00   | 0.12%             | 2033-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                            | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7000000 | PA      | $7270703.16   | 0.85%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                       | BAT Capital Corp                                                            | CUSIP: 05526DBX2<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    850000 | PA      | $994001.89    | 0.12%             | 2032-10-19      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                          | CUSIP: 3618N5PJ2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1339376 | PA      | $1350794.03   | 0.16%             | 2055-06-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS ISSUANCE BV                                | BNP Paribas Issuance BV                                                     | CUSIP: 000000000<br>LEI: 7245009UXRIGIRYOBR48 | Long             | DBT              | CORP              | NL        |     25000 | PA      | $2216693.26   | 0.26%             | 2026-10-07      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                      | Herc Holdings Inc                                                           | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1039541.00   | 0.12%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                             | CUSIP: 31418FNK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2450463 | PA      | $2505073.57   | 0.29%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WYNN LAS VEGAS LLC/CORP                                | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp                            | CUSIP: 983130AX3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    775000 | PA      | $774704.55    | 0.09%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                                    | United Airlines Inc                                                         | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2463609.38   | 0.29%             | 2029-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                          | CUSIP: 3618N5PK9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1288508 | PA      | $1313354.19   | 0.15%             | 2055-06-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp                                         | Microsoft Corp                                                              | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |        66 | NS      | $34184.70     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                                    | Fifth Third Bancorp                                                         | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |     55790 | NS      | $2485444.50   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                               | Vistra Operations Co LLC                                                    | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1465249.48   | 0.17%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                 | UBS AG                                                                      | CUSIP: 90304M220<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | DBT              | CORP              | CH        |      1010 | PA      | $6190424.21   | 0.72%             | 2025-11-25      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                                  | Micron Technology Inc                                                       | CUSIP: 595112BN2<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    350000 | PA      | $360709.26    | 0.04%             | 2029-02-06      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                               | Vistra Operations Co LLC                                                    | CUSIP: 92840VAG7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    535000 | PA      | $530216.37    | 0.06%             | 2027-01-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                   | Royal Bank of Canada                                                        | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $3649480.18   | 0.42%             | 2026-08-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Roche Holding AG                                       | Roche Holding AG                                                            | CUSIP: 771195104<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |    160964 | NS      | $6729904.84   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| FERTITTA ENTERTAINMENT                                 | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc          | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2347769.58   | 0.27%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Amazon.com Inc                                         | Amazon.com Inc                                                              | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |        54 | NS      | $11856.78     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc                                     | Analog Devices Inc                                                          | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     11888 | NS      | $2920881.60   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                                        | Southern Co/The                                                             | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     77099 | NS      | $7306672.23   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc                             | Verizon Communications Inc                                                  | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    201548 | NS      | $8858034.60   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                                           | Broadcom Inc                                                                | CUSIP: 11135FBL4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1315000 | PA      | $1200608.33   | 0.14%             | 2034-04-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO BANK NA                                    | Wells Fargo Bank NA                                                         | CUSIP: 95003X203<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |     37000 | PA      | $1293997.32   | 0.15%             | 2025-11-26      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                               | Vistra Operations Co LLC                                                    | CUSIP: 92840VAQ5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    800000 | PA      | $892880.00    | 0.10%             | 2033-10-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                 | Clydesdale Acquisition Holdings Inc                                         | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1539892.50   | 0.18%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                             | AbbVie Inc                                                                  | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     44771 | NS      | $10366277.34  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                               | Capital One Financial Corp                                                  | CUSIP: 14040HCY9<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1049026.17   | 0.12%             | 2034-02-01      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                               | Celanese US Holdings LLC                                                    | CUSIP: 15089QAP9<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2556315.00   | 0.30%             | 2032-07-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                            | CUSIP: 91282CJZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4000000 | PA      | $3990390.64   | 0.46%             | 2034-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                          | CUSIP: 3618N5MQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1780289 | PA      | $1795465.30   | 0.21%             | 2055-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                      | Barclays Bank PLC                                                           | CUSIP: 06748N434<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |     10000 | PA      | $4091120.18   | 0.48%             | 2026-02-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corp                                   | Lockheed Martin Corp                                                        | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |     18683 | NS      | $9326740.43   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| WEATHERFORD INTERNATIONA                               | Weatherford International Ltd                                               | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |   2040000 | PA      | $2086830.24   | 0.24%             | 2030-04-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                               | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                        | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $754019.51    | 0.09%             | 2031-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                          | Boeing Co/The                                                               | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |     77986 | NS      | $5425486.02   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| JP MORGAN CHASE BANK NA                                | JPMorgan Chase Bank NA                                                      | CUSIP: 4662AA471<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | DBT              | CORP              | US        |     11000 | PA      | $1244443.21   | 0.14%             | 2025-11-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                  | Qnity Electronics Inc                                                       | CUSIP: 74743LAB6<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |    750000 | PA      | $766827.00    | 0.09%             | 2033-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                               | Occidental Petroleum Corp                                                   | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2144366.00   | 0.25%             | 2030-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                 | CCO Holdings LLC / CCO Holdings Capital Corp                                | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1338113.57   | 0.16%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                 | UnitedHealth Group Inc                                                      | CUSIP: 91324PER9<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    500000 | PA      | $522750.46    | 0.06%             | 2033-02-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                    | Medline Borrower LP                                                         | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   1135000 | PA      | $1095478.14   | 0.13%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                          | CommScope LLC                                                               | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1618847.22   | 0.19%             | 2027-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                           | Barclays PLC                                                                | CUSIP: 06738EDC6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1060764.00   | 0.12%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                          | TransDigm Inc                                                               | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    600000 | PA      | $612185.40    | 0.07%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                                              | CUSIP: 61747YFE0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1444161.53   | 0.17%             | 2034-04-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FIVE CORNERS FND TR III                                | Five Corners Funding Trust III                                              | CUSIP: 33830GAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    490000 | PA      | $518524.56    | 0.06%             | 2033-02-15      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                             | US Bancorp                                                                  | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     61682 | NS      | $2981091.06   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                         | Morgan Stanley                                                              | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     24885 | NS      | $3955719.60   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| MIZUHO MARKETS CAYMAN                                  | Mizuho Markets Cayman LP                                                    | CUSIP: 60701E212<br>LEI: 549300KHUXLS6Q30KT26 | Long             | DBT              | CORP              | KY        |     90000 | PA      | $4369817.42   | 0.51%             | 2026-02-25      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                                      | Johnson & Johnson                                                           | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    114288 | NS      | $21191280.96  | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA INC                                                | HCA Inc                                                                     | CUSIP: 404121AJ4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   2935000 | PA      | $3028812.81   | 0.35%             | 2028-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                         | Lowe's Cos Inc                                                              | CUSIP: 548661EL7<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1023541.30   | 0.12%             | 2033-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY INC                                     | NextEra Energy Inc                                                          | CUSIP: 65339F663<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |     80900 | NS      | $4034483.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                 | Venture Global LNG Inc                                                      | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3625195.00   | 0.42%             | 2028-06-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| X Corp                                                 | X 10/26/29                                                                  | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1989796 | PA      | $1954695.92   | 0.23%             | 2029-10-29      | Floating      | 10.85%                | No            |                  2 | On Loan: No      |
| CENTENE CORP                                           | Centene Corp                                                                | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1552369.95   | 0.18%             | 2029-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                          | CUSIP: 3618N5JD2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3193197 | PA      | $3220417.88   | 0.37%             | 2055-03-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Rio Tinto PLC                                          | Rio Tinto PLC                                                               | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |    104480 | NS      | $6896724.80   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO BANK NA                                    | Wells Fargo Bank NA                                                         | CUSIP: 95003X377<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |      8400 | PA      | $2045489.71   | 0.24%             | 2026-06-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                          | CUSIP: 3618N5RG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5813933 | PA      | $5918953.68   | 0.69%             | 2055-07-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RIVIAN HLD/AUTO LLC                                    | Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC                        | CUSIP: 76954LAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1490712.80   | 0.17%             | 2031-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                   | Cleveland-Cliffs Inc                                                        | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3033645.00   | 0.35%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS                               | Citigroup Global Markets Holdings Inc/United States                         | CUSIP: 000000000<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |     20000 | PA      | $4084513.10   | 0.48%             | 2026-07-29      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| TransDigm Group Inc                                    | TransDigm Group Inc                                                         | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2928 | NS      | $3859162.56   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HEALTHCARE TECH INC                                 | GE HealthCare Technologies Inc                                              | CUSIP: 36267VAK9<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    475000 | PA      | $511313.50    | 0.06%             | 2032-11-22      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| PepsiCo Inc                                            | PepsiCo Inc                                                                 | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     78317 | NS      | $10998839.48  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| MERRILL LYNCH BV                                       | Merrill Lynch BV                                                            | CUSIP: 59028A119<br>LEI: 549300RQ1D1WIE085245 | Long             | DBT              | CORP              | NL        |      7500 | PA      | $2498857.06   | 0.29%             | 2026-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                                | Beach Acquisition Bidco LLC                                                 | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3784067.00   | 0.44%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| ALCOA NEDERLAND HOLDING                                | Alcoa Nederland Holding BV                                                  | CUSIP: 013822AG6<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |    825000 | PA      | $798455.87    | 0.09%             | 2029-03-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| HANESBRANDS INC                                        | Hanesbrands Inc                                                             | CUSIP: 410345AQ5<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | DBT              | CORP              | US        |    350000 | PA      | $370929.30    | 0.04%             | 2031-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CALUMET SPECIALTY PROD                                 | Calumet Specialty Products Partners LP / Calumet Finance Corp               | CUSIP: 131477AW1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $497427.50    | 0.06%             | 2028-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                                   | Matador Resources Co                                                        | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    450000 | PA      | $454621.05    | 0.05%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ENDO FINANCE HOLDINGS                                  | Endo Finance Holdings Inc                                                   | CUSIP: 29281RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $537059.50    | 0.06%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                               | Weatherford International Ltd                                               | CUSIP: 947075AW7<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1001320.61   | 0.12%             | 2033-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                | Millrose Properties Inc                                                     | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1526640.00   | 0.18%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                  | Tenet Healthcare Corp                                                       | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   3375000 | PA      | $3379822.77   | 0.39%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                               | American Airlines Inc/AAdvantage Loyalty IP Ltd                             | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1000000 | PA      | $1004575.37   | 0.12%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                 | Philip Morris International Inc                                             | CUSIP: 718172DB2<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    500000 | PA      | $522314.86    | 0.06%             | 2033-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                    | American Tower Corp                                                         | CUSIP: 03027XCD0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1309299.23   | 0.15%             | 2033-07-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| KEY BANK NA                                            | KeyBank NA/Cleveland OH                                                     | CUSIP: 49327V2C7<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    615000 | PA      | $610796.75    | 0.07%             | 2032-08-08      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                            | CUSIP: 3132DWJR5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    451555 | PA      | $456982.28    | 0.05%             | 2053-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                          | Citigroup Inc                                                               | CUSIP: 172967PU9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1048066.76   | 0.12%             | 2036-01-24      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| DORNOCH DEBT MERGER SUB                                | Dornoch Debt Merger Sub Inc                                                 | CUSIP: 25830JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2153225.53   | 0.25%             | 2029-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                            | CUSIP: 91282CMG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7000000 | PA      | $7149433.62   | 0.83%             | 2030-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                 | General Motors Financial Co Inc                                             | CUSIP: 37045XEN2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    850000 | PA      | $883597.02    | 0.10%             | 2029-01-07      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| SPRINT LLC                                             | Sprint LLC                                                                  | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |    470000 | PA      | $471061.21    | 0.05%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                | Goldman Sachs Group Inc/The                                                 | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1039958.00   | 0.12%             | N/A             | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                               | Hilcorp Energy I LP / Hilcorp Finance Co                                    | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2444904.25   | 0.28%             | 2035-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                          | CUSIP: 3618N5JE0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4046553 | PA      | $4115613.05   | 0.48%             | 2055-03-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                            | Oracle Corp                                                                 | CUSIP: 68389XCE3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    650000 | PA      | $597002.27    | 0.07%             | 2031-03-25      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                            | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  17000000 | PA      | $17058437.50  | 1.99%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                 | Venture Global LNG Inc                                                      | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2975338.80   | 0.35%             | N/A             | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                 | CCO Holdings LLC / CCO Holdings Capital Corp                                | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1242608.25   | 0.14%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                   | Royal Bank of Canada                                                        | CUSIP: 779942564<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $2649951.26   | 0.31%             | 2025-11-26      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| HP INC                                                 | HP Inc                                                                      | CUSIP: 40434LAN5<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    750000 | PA      | $777208.22    | 0.09%             | 2033-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Home Depot Inc/The                                     | Home Depot Inc/The                                                          | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      4245 | NS      | $1720031.55   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                            | CUSIP: 3132DWG80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    932612 | PA      | $927124.92    | 0.11%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC                             | MORGAN STANLEY AND CO LLC                                                   | CUSIP: 61772E198<br>LEI: 5493003FCPSE9RKT4B56 | Long             | DBT              | CORP              | US        |     14000 | PA      | $3936192.46   | 0.46%             | 2027-04-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FORTESCUE TREASURY PTY L                               | Fortescue Treasury Pty Ltd                                                  | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    770000 | PA      | $796263.16    | 0.09%             | 2032-04-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO BANK NA                                    | Wells Fargo Bank NA                                                         | CUSIP: 95003X880<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |     30000 | PA      | $2770327.08   | 0.32%             | 2026-02-25      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                            | BNP Paribas SA                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |      6830 | PA      | $1326207.02   | 0.15%             | 2025-12-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                 | Pacific Gas and Electric Co                                                 | CUSIP: 694308JP3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1794404.00   | 0.21%             | 2026-01-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                 | NextEra Energy Capital Holdings Inc                                         | CUSIP: 65339KCU2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    500000 | PA      | $513699.08    | 0.06%             | 2034-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS ISSUANCE BV                                | BNP Paribas Issuance BV                                                     | CUSIP: 000000000<br>LEI: 7245009UXRIGIRYOBR48 | Long             | DBT              | CORP              | NL        |     97000 | PA      | $3801016.24   | 0.44%             | 2026-08-28      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                                     | VICI Properties LP                                                          | CUSIP: 925650AD5<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |    800000 | PA      | $808204.93    | 0.09%             | 2032-05-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Siemens AG                                             | Siemens AG                                                                  | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     12416 | NS      | $3341051.39   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD                               | Macquarie Airfinance Holdings Ltd                                           | CUSIP: 55609NAC2<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $526748.61    | 0.06%             | 2029-03-26      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                            | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4000000 | PA      | $4045937.52   | 0.47%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MIZUHO MARKETS CAYMAN                                  | Mizuho Markets Cayman LP                                                    | CUSIP: 000000000<br>LEI: 549300KHUXLS6Q30KT26 | Long             | DBT              | CORP              | KY        |    110000 | PA      | $3830076.58   | 0.45%             | 2026-07-27      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Bank of America Corp                                   | Bank of America Corp                                                        | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     96971 | NS      | $5002733.89   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTENE CORP                                           | Centene Corp                                                                | CUSIP: 15135BAX9<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   2030000 | PA      | $1749939.17   | 0.20%             | 2031-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                  | Tenet Healthcare Corp                                                       | CUSIP: 88033GDQ0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3549023.94   | 0.41%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                     | Bank of America NA                                                          | CUSIP: 59027W401<br>LEI: B4TYDEB6GKMZO031MB27 | Long             | DBT              | CORP              | US        |     50000 | PA      | $3221986.97   | 0.38%             | 2026-09-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                          | Boeing Co/The                                                               | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1659390.20   | 0.19%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp                                     | Union Pacific Corp                                                          | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     32982 | NS      | $7795955.34   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                               | EMRLD Borrower LP / Emerald Co-Issuer Inc                                   | CUSIP: 29103CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $514599.50    | 0.06%             | 2030-12-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| MERRILL LYNCH BV                                       | Merrill Lynch BV                                                            | CUSIP: 59027W310<br>LEI: 549300RQ1D1WIE085245 | Long             | DBT              | CORP              | NL        |     20000 | PA      | $2682126.65   | 0.31%             | 2026-03-09      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Cisco Systems Inc                                      | Cisco Systems Inc                                                           | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     95511 | NS      | $6534862.62   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS AG                                                 | UBS AG                                                                      | CUSIP: 90304M188<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | DBT              | CORP              | CH        |      1000 | PA      | $5718569.90   | 0.67%             | 2025-12-23      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CALUMET SPECIALTY PROD                                 | Calumet Specialty Products Partners LP / Calumet Finance Corp               | CUSIP: 131477AV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2625000 | PA      | $2604440.74   | 0.30%             | 2027-01-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| MIZUHO MARKETS CAYMAN                                  | Mizuho Markets Cayman LP                                                    | CUSIP: 60701E287<br>LEI: 549300KHUXLS6Q30KT26 | Long             | DBT              | CORP              | KY        |     50000 | PA      | $3046475.47   | 0.35%             | 2026-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Johnson Controls International                         | Johnson Controls International plc                                          | CUSIP: 000000000<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | US        |     75808 | NS      | $8335089.60   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN AIRLINES INC                                  | American Airlines Inc                                                       | CUSIP: 023771T40<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5218890.00   | 0.61%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                      | Post Holdings Inc                                                           | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    700000 | PA      | $720529.77    | 0.08%             | 2032-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                                        | AstraZeneca PLC                                                             | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |        78 | NS      | $5984.16      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                            | CUSIP: 3132DWMX8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4372529 | PA      | $4340967.19   | 0.51%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES                               | Delta Air Lines Inc / SkyMiles IP Ltd                                       | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1900000 | PA      | $1911474.61   | 0.22%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                         | NRG Energy Inc                                                              | CUSIP: 629377CT7<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    750000 | PA      | $829742.25    | 0.10%             | 2033-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                           | Comcast Corp                                                                | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     46218 | NS      | $1452169.56   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CO                                            | Southern Co/The                                                             | CUSIP: 842587DL8<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    480000 | PA      | $508732.90    | 0.06%             | 2032-10-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                         | NRG Energy Inc                                                              | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3502690.21   | 0.41%             | 2036-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MERRILL LYNCH BV                                       | Merrill Lynch BV                                                            | CUSIP: 59027W328<br>LEI: 549300RQ1D1WIE085245 | Long             | DBT              | CORP              | NL        |      5000 | PA      | $2220004.60   | 0.26%             | 2026-03-09      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                    | Charles Schwab Corp/The                                                     | CUSIP: 808513CE3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    490000 | PA      | $524612.29    | 0.06%             | 2034-05-19      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| MIZUHO MARKETS CAYMAN                                  | Mizuho Markets Cayman LP                                                    | CUSIP: 60701E352<br>LEI: 549300KHUXLS6Q30KT26 | Long             | DBT              | CORP              | KY        |     14000 | PA      | $3957769.79   | 0.46%             | 2026-06-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                           | MPH ACQUISITION 12/31/30                                                    | CUSIP: 55328HAP6<br>LEI: 5493002WXOPRPTXWTU06 | Long             | LON              | CORP              | US        |    165284 | PA      | $165283.75    | 0.02%             | 2030-12-31      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                   | Royal Bank of Canada                                                        | CUSIP: 779942606<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     25000 | PA      | $1761938.51   | 0.21%             | 2025-12-24      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Government National Mortgage A                         | Ginnie Mae II Pool                                                          | CUSIP: 3618N5RF8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    348287 | PA      | $351359.16    | 0.04%             | 2055-07-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CARRIER GLOBAL CORP                                    | Carrier Global Corp                                                         | CUSIP: 14448CAQ7<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |    850000 | PA      | $796941.85    | 0.09%             | 2030-02-15      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                      | Barclays Bank PLC                                                           | CUSIP: 06748N772<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |     37275 | PA      | $3530657.88   | 0.41%             | 2026-02-05      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MERRILL LYNCH BV                                       | Merrill Lynch BV                                                            | CUSIP: 59027W237<br>LEI: 549300RQ1D1WIE085245 | Long             | DBT              | CORP              | NL        |      3000 | PA      | $1405423.99   | 0.16%             | 2025-10-06      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SCIH SALT HOLDINGS INC                                 | SCIH Salt Holdings Inc                                                      | CUSIP: 78433BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1155000 | PA      | $1129599.47   | 0.13%             | 2028-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Honeywell International Inc                            | Honeywell International Inc                                                 | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     30521 | NS      | $6424670.50   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CO                                            | Southern Co/The                                                             | CUSIP: 842587EC7<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    700000 | PA      | $710150.00    | 0.08%             | 2028-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC                                      | Brown & Brown Inc                                                           | CUSIP: 115236AC5<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    615000 | PA      | $547656.50    | 0.06%             | 2031-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                         | NRG Energy Inc                                                              | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1320000 | PA      | $1221474.54   | 0.14%             | 2031-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                | Royal Caribbean Cruises Ltd                                                 | CUSIP: 780153BU5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    600000 | PA      | $619616.68    | 0.07%             | 2032-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                           | Barclays PLC                                                                | CUSIP: 06738ECE3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1465000 | PA      | $1681447.76   | 0.20%             | 2033-11-02      | Fixed         | 7.44%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER/MEDL CO                               | Medline Borrower LP/Medline Co-Issuer Inc                                   | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $461994.60    | 0.05%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| RAIN CARBON INC                                        | Rain Carbon Inc                                                             | CUSIP: 75079LAB7<br>LEI: 25490038N6JQH7QXUK52 | Long             | DBT              | CORP              | US        |    500000 | PA      | $536059.00    | 0.06%             | 2029-09-01      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                               | Vistra Operations Co LLC                                                    | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1469693.85   | 0.17%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Medtronic PLC                                          | Medtronic PLC                                                               | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     50990 | NS      | $4856287.60   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                                       | Duke Energy Corp                                                            | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     84460 | NS      | $10451925.00  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP                                    | Charles Schwab Corp/The                                                     | CUSIP: 808513CJ2<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    500000 | PA      | $531065.77    | 0.06%             | 2029-11-17      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO BANK NA                                    | Wells Fargo Bank NA                                                         | CUSIP: 95004P746<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |       700 | PA      | $4547025.32   | 0.53%             | 2025-11-04      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                      | Barclays Bank PLC                                                           | CUSIP: 06748N491<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |     10000 | PA      | $2114470.47   | 0.25%             | 2026-03-25      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                      | Barclays Bank PLC                                                           | CUSIP: 06748N756<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $4488884.73   | 0.52%             | 2026-07-29      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| DTE Energy Co                                          | DTE Energy Co                                                               | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |     34252 | NS      | $4844260.36   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| TORONTO-DOMINION BANK                                  | Toronto-Dominion Bank/The                                                   | CUSIP: 000000000<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $4847132.80   | 0.56%             | 2026-08-19      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                          | Citigroup Inc                                                               | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2837029.25   | 0.33%             | N/A             | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                               | Univision Communications Inc                                                | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1066507.00   | 0.12%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                               | Ford Motor Credit Co LLC                                                    | CUSIP: 345397C68<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3212149.53   | 0.37%             | 2030-03-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| Sempra                                                 | Sempra                                                                      | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |     26710 | NS      | $2403365.80   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY                                | JetBlue Airways Corp / JetBlue Loyalty LP                                   | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    750000 | PA      | $761345.25    | 0.09%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                       | Hewlett Packard Enterprise Co                                               | CUSIP: 42824CBV0<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    750000 | PA      | $744443.99    | 0.09%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                               | Capital One Financial Corp                                                  | CUSIP: 14040HBK0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    600000 | PA      | $597724.34    | 0.07%             | 2026-07-28      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                     | Ford Motor Co                                                               | CUSIP: 345370DA5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1531632.36   | 0.18%             | 2032-02-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                        | CVS Health Corp                                                             | CUSIP: 126650DU1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1023448.58   | 0.12%             | 2033-02-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                            | CUSIP: 3132DWHT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    445718 | PA      | $450766.30    | 0.05%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                   | Bank of America Corp                                                        | CUSIP: 06051GMB2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1530700.91   | 0.18%             | 2035-08-15      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                  | Truist Financial Corp                                                       | CUSIP: 89788NAA8<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    540000 | PA      | $538419.59    | 0.06%             | 2033-07-28      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK NA                                | JPMorgan Chase Bank NA                                                      | CUSIP: 4662AA497<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | DBT              | CORP              | US        |     40000 | PA      | $2762859.03   | 0.32%             | 2025-11-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SCIH SALT HOLDINGS INC                                 | SCIH Salt Holdings Inc                                                      | CUSIP: 78433BAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1226611.91   | 0.14%             | 2029-05-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                  | Qnity Electronics Inc                                                       | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |    750000 | PA      | $756657.59    | 0.09%             | 2032-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                            | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10093750.00  | 1.17%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                             | US Bancorp                                                                  | CUSIP: 91159HJN1<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    300000 | PA      | $319775.66    | 0.04%             | 2034-06-12      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| MSFT JPM 7 ELN 10/15/26                                | MSFT JPM 7 ELN 10/15/26                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $5160800.00   | 0.60%             | 2026-10-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                  | Caesars Entertainment Inc                                                   | CUSIP: 12769GAD2<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4927924.00   | 0.57%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                 | Williams Cos Inc/The                                                        | CUSIP: 969457BX7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1529818.66   | 0.18%             | 2030-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-26

**Name of Applicant:** Franklin Templeton ETF Trust

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer Controller, US Fund Administration and Oversight