# EDGAR Filing Document

**Accession Number:** 0001527428
**File Stem:** 0001752724-25-158268
**Filing Date:** 2025-6
**Character Count:** 47919
**Document Hash:** 3bece5eff3b8e88ba35d6ebc012c65f1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-158268.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001752724-25-158268

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20260131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Arrow Investments Trust
- **CENTRAL INDEX KEY:** 0001527428

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22638
- **FILM NUMBER:** 251077520

**BUSINESS ADDRESS:**
- **STREET 1:** 6100 CHEVY CHASE DR
- **STREET 2:** SUITE 100
- **CITY:** LAUREL
- **STATE:** MD
- **ZIP:** 20707
- **BUSINESS PHONE:** 301-260-0162

**MAIL ADDRESS:**
- **STREET 1:** 6100 CHEVY CHASE DR
- **STREET 2:** SUITE 100
- **CITY:** LAUREL
- **STATE:** MD
- **ZIP:** 20707

## Series and Classes Contracts Data

### Arrow Reserve Capital Management ETF (Series ID: S000056852)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000180528 | Arrow Reserve Capital Management ETF | ARCM            |

## Nport-Ex

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 62.3%** |  |  |  |
|  | **AEROSPACE & DEFENSE** — **4.4%** |  |  |  |
| 2009000 | RTX Corporation | 3.9500 | &nbsp;&nbsp;&nbsp;08/16/25 | $2004185 |
|  | **BANKING** — **14.6%** |  |  |  |
| 923000 | Bank of America NA | 5.6500 | &nbsp;&nbsp;&nbsp;08/18/25 | 925338 |
| 840000 | Citibank NA | 5.8640 | &nbsp;&nbsp;&nbsp;09/29/25 | 843547 |
| 780000 | Fifth Third Bank NA | 3.9500 | &nbsp;&nbsp;&nbsp;07/28/25 | 778009 |
| 625000 | JPMorgan Chase & Company | 3.9000 | &nbsp;&nbsp;&nbsp;07/15/25 | 624322 |
| 250000 | JPMorgan Chase Bank NA | 5.1100 | &nbsp;&nbsp;&nbsp;12/08/26 | 253753 |
| 250000 | KeyBank NA | 3.3000 | &nbsp;&nbsp;&nbsp;06/01/25 | 249568 |
| 806000 | KeyBank NA | 4.1500 | &nbsp;&nbsp;&nbsp;08/08/25 | 804732 |
| 819000 | Synchrony Bank | 5.4000 | &nbsp;&nbsp;&nbsp;08/22/25 | 819305 |
| 101000 | Truist Financial Corporation | 4.0000 | &nbsp;&nbsp;&nbsp;05/01/25 | 101000 |
| 345000 | Truist Financial Corporation | 3.7000 | &nbsp;&nbsp;&nbsp;06/05/25 | 344631 |
| 581000 | Wells Fargo & Company | 3.0000 | &nbsp;&nbsp;&nbsp;04/22/26 | 573340 |
| 395000 | Wells Fargo Bank NA | 5.5500 | &nbsp;&nbsp;&nbsp;08/01/25 | 395699 |
|  |  |  |  | 6713244 |
|  | **BEVERAGES** — **1.0%** |  |  |  |
| 444000 | Constellation Brands, Inc. | 5.0000 | &nbsp;&nbsp;&nbsp;02/02/26 | 443942 |
|  | **BIOTECH & PHARMA** — **5.4%** |  |  |  |
| 89000 | Bristol-Myers Squibb Company | 0.7500 | &nbsp;&nbsp;&nbsp;11/13/25 | 87351 |
| 463000 | Bristol-Myers Squibb Company | 4.9500 | &nbsp;&nbsp;&nbsp;02/20/26 | 465580 |
| 163000 | Gilead Sciences, Inc. | 3.6500 | &nbsp;&nbsp;&nbsp;03/01/26 | 162094 |
| 939000 | Pfizer Investment Enterprises Pte Ltd. | 4.6500 | &nbsp;&nbsp;&nbsp;05/19/25 | 938956 |
| 161000 | Zoetis, Inc. | 4.5000 | &nbsp;&nbsp;&nbsp;11/13/25 | 160925 |
| 687000 | Zoetis, Inc. | 5.4000 | &nbsp;&nbsp;&nbsp;11/14/25 | 689722 |
|  |  |  |  | 2504628 |
|  | **CHEMICALS** — **1.1%** |  |  |  |
| 72000 | Sherwin-Williams Company (The) | 4.2500 | &nbsp;&nbsp;&nbsp;08/08/25 | 71904 |
| 445000 | Sherwin-Williams Company (The) | 3.9500 | &nbsp;&nbsp;&nbsp;01/15/26 | 443619 |
|  |  |  |  | 515523 |
|  | **DIVERSIFIED INDUSTRIALS** — **0.1%** |  |  |  |
| 54000 | Honeywell International, Inc. | 1.3500 | &nbsp;&nbsp;&nbsp;06/01/25 | 53831 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 62.3% (Continued)** |  |  |  |
|  | **ELECTRIC UTILITIES** — **6.9%** |  |  |  |
| 885000 | Dominion Energy, Inc. | 3.9000 | &nbsp;&nbsp;&nbsp;10/01/25 | $882571 |
| 459000 | Duke Energy Corporation | 5.0000 | &nbsp;&nbsp;&nbsp;12/08/25 | 460819 |
| 252000 | Duke Energy Corporation | 2.6500 | &nbsp;&nbsp;&nbsp;09/01/26 | 246150 |
| 60000 | Exelon Corporation | 3.9500 | &nbsp;&nbsp;&nbsp;06/15/25 | 59923 |
| 159000 | NextEra Energy Capital Holdings, Inc. | 4.4500 | &nbsp;&nbsp;&nbsp;06/20/25 | 158854 |
| 281000 | NextEra Energy Capital Holdings, Inc. | 5.7490 | &nbsp;&nbsp;&nbsp;09/01/25 | 281817 |
| 253000 | NextEra Energy Capital Holdings, Inc. | 4.9500 | &nbsp;&nbsp;&nbsp;01/29/26 | 253550 |
| 849000 | WEC Energy Group, Inc. | 4.7500 | &nbsp;&nbsp;&nbsp;01/09/26 | 849886 |
|  |  |  |  | 3193570 |
|  | **ELECTRICAL EQUIPMENT** — **3.2%** |  |  |  |
| 680000 | Hubbell, Inc. | 3.3500 | &nbsp;&nbsp;&nbsp;03/01/26 | 672729 |
| 811000 | Johnson Controls International plc | 3.9000 | &nbsp;&nbsp;&nbsp;02/14/26 | 804741 |
|  |  |  |  | 1477470 |
|  | **FOOD** — **1.7%** |  |  |  |
| 790000 | McCormick & Company, Inc. | 3.2500 | &nbsp;&nbsp;&nbsp;11/15/25 | 784230 |
|  | **HOUSEHOLD PRODUCTS** — **0.1%** |  |  |  |
| 65000 | Colgate-Palmolive Company | 3.1000 | &nbsp;&nbsp;&nbsp;08/15/25 | 64738 |
|  | **INSTITUTIONAL FINANCIAL SERVICES** — **2.8%** |  |  |  |
| 47000 | Goldman Sachs Group, Inc. (The) | 3.7500 | &nbsp;&nbsp;&nbsp;05/22/25 | 46969 |
| 305000 | Goldman Sachs Group, Inc. (The) | 3.7500 | &nbsp;&nbsp;&nbsp;02/25/26 | 303775 |
| 102000 | Goldman Sachs Group, Inc. (The) | 3.8500 | &nbsp;&nbsp;&nbsp;01/26/27 | 101155 |
| 162000 | Morgan Stanley | 4.0000 | &nbsp;&nbsp;&nbsp;07/23/25 | 161774 |
| 425000 | Morgan Stanley | 3.8750 | &nbsp;&nbsp;&nbsp;01/27/26 | 423244 |
| 250000 | State Street Bank & Trust Company | 4.5940 | &nbsp;&nbsp;&nbsp;11/25/26 | 252187 |
|  |  |  |  | 1289104 |
|  | **INSURANCE** — **3.1%** |  |  |  |
| 825000 | Allstate Corporation (The) | 0.7500 | &nbsp;&nbsp;&nbsp;12/15/25 | 805746 |
| 444000 | Chubb INA Holdings, Inc. | 3.3500 | &nbsp;&nbsp;&nbsp;05/03/26 | 439573 |
| 21000 | Marsh & McLennan Companies, Inc. | 3.7500 | &nbsp;&nbsp;&nbsp;03/14/26 | 20878 |
| 175000 | New York Life Global Funding<sup>(a)</sup> | 3.6000 | &nbsp;&nbsp;&nbsp;08/05/25 | 174511 |
|  |  |  |  | 1440708 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 62.3% (Continued)** |  |  |  |
|  | **LEISURE FACILITIES & SERVICES** — **1.2%** |  |  |  |
| 463000 | Hyatt Hotels Corporation | 4.8500 | &nbsp;&nbsp;&nbsp;03/15/26 | $463156 |
| 88000 | Marriott International, Inc. | 5.4500 | &nbsp;&nbsp;&nbsp;09/15/26 | 88951 |
|  |  |  |  | 552107 |
|  | **MEDICAL EQUIPMENT & DEVICES** — **0.4%** |  |  |  |
| 162000 | Boston Scientific Corporation | 3.7500 | &nbsp;&nbsp;&nbsp;03/01/26 | 161000 |
|  | **REAL ESTATE INVESTMENT TRUSTS** — **3.0%** |  |  |  |
| 851000 | Host Hotels & Resorts, L.P. | 4.0000 | &nbsp;&nbsp;&nbsp;06/15/25 | 849684 |
| 101000 | Host Hotels & Resorts, L.P. | 4.5000 | &nbsp;&nbsp;&nbsp;02/01/26 | 100618 |
| 11000 | Realty Income Corporation | 4.6250 | &nbsp;&nbsp;&nbsp;11/01/25 | 10996 |
| 266000 | Realty Income Corporation | 5.0500 | &nbsp;&nbsp;&nbsp;01/13/26 | 265814 |
| 163000 | Realty Income Corporation | 4.4500 | &nbsp;&nbsp;&nbsp;09/15/26 | 162488 |
|  |  |  |  | 1389600 |
|  | **RETAIL - DISCRETIONARY** — **1.4%** |  |  |  |
| 658000 | Lowe's Companies, Inc. | 4.4000 | &nbsp;&nbsp;&nbsp;09/08/25 | 657524 |
|  | **SEMICONDUCTORS** — **1.3%** |  |  |  |
| 595000 | Broadcom, Inc. | 3.1500 | &nbsp;&nbsp;&nbsp;11/15/25 | 590395 |
| 10000 | Broadcom, Inc. | 3.4590 | &nbsp;&nbsp;&nbsp;09/15/26 | 9874 |
|  |  |  |  | 600269 |
|  | **SPECIALTY FINANCE** — **4.2%** |  |  |  |
| 748000 | American Express Company | 3.9500 | &nbsp;&nbsp;&nbsp;08/01/25 | 746525 |
| 692000 | Capital One Financial Corporation | 4.2000 | &nbsp;&nbsp;&nbsp;10/29/25 | 690738 |
| 64000 | Penske Truck Leasing Company Lp / PTL Finance<sup>(a)</sup> | 4.4500 | &nbsp;&nbsp;&nbsp;01/29/26 | 63798 |
| 332000 | Penske Truck Leasing Company Lp / PTL Finance<sup>(a)</sup> | 5.7500 | &nbsp;&nbsp;&nbsp;05/24/26 | 335577 |
| 109000 | Synchrony Financial | 4.8750 | &nbsp;&nbsp;&nbsp;06/13/25 | 108920 |
|  |  |  |  | 1945558 |
|  | **TECHNOLOGY SERVICES** — **1.7%** |  |  |  |
| 531000 | International Business Machines Corporation | 4.0000 | &nbsp;&nbsp;&nbsp;07/27/25 | 530164 |
| 269000 | International Business Machines Corporation | 3.4500 | &nbsp;&nbsp;&nbsp;02/19/26 | 266923 |
|  |  |  |  | 797087 |
|  | **TELECOMMUNICATIONS** — **0.1%** |  |  |  |
| 34000 | AT&T, Inc. | 3.8750 | &nbsp;&nbsp;&nbsp;01/15/26 | 33849 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 62.3% (Continued)** |  |  |  |
|  | **TOBACCO & CANNABIS** — **2.2%** |  |  |  |
| 1013000 | Altria Group, Inc. | 2.3500 | &nbsp;&nbsp;&nbsp;05/06/25 | $1012609 |
|  | **TRANSPORTATION & LOGISTICS** — **2.4%** |  |  |  |
| 326000 | CSX Corporation | 3.3500 | &nbsp;&nbsp;&nbsp;11/01/25 | 324287 |
| 388000 | FedEx Corporation | 3.2500 | &nbsp;&nbsp;&nbsp;04/01/26 | 383379 |
| 381000 | JB Hunt Transport Services, Inc. | 3.8750 | &nbsp;&nbsp;&nbsp;03/01/26 | 378189 |
|  |  |  |  | 1085855 |
|  | **TOTAL CORPORATE BONDS (Cost $28,675,202)** |  |  | 28720631 |
|  | **MUNICIPAL BONDS — 0.7%** |  |  |  |
|  | **INCOME TAX FINANCING** — **0.7%** |  |  |  |
| 290000 | New York City Transitional Finance Authority **(Cost $289,205)** | 3.3500 | 08/01/25 | 289340 |
|  |  | **Yield Rate (%)** |  |  |
|  | **U.S. GOVERNMENT & AGENCIES — 36.7%** |  |  |  |
|  | **U.S. TREASURY BILLS** — **27.9%** |  |  |  |
| 1695000 | United States Treasury Bill<sup>(b)</sup> | 3.5500 | &nbsp;&nbsp;&nbsp;05/06/25 | 1694012 |
| 2950000 | United States Treasury Bill<sup>(b)</sup> | 3.7300 | &nbsp;&nbsp;&nbsp;05/08/25 | 2947593 |
| 2420000 | United States Treasury Bill<sup>(b)</sup> | 4.1400 | &nbsp;&nbsp;&nbsp;05/29/25 | 2412075 |
| 90000 | United States Treasury Bill<sup>(b)</sup> | 4.2300 | &nbsp;&nbsp;&nbsp;06/24/25 | 89430 |
| 900000 | United States Treasury Bill<sup>(b)</sup> | 4.2100 | &nbsp;&nbsp;&nbsp;07/01/25 | 893610 |
| 2000000 | United States Treasury Bill<sup>(b)</sup> | 4.2200 | &nbsp;&nbsp;&nbsp;07/15/25 | 1982584 |
| 1845000 | United States Treasury Bill<sup>(b)</sup> | 4.2400 | &nbsp;&nbsp;&nbsp;07/29/25 | 1825912 |
| 1025000 | United States Treasury Bill<sup>(b)</sup> | 4.2400 | &nbsp;&nbsp;&nbsp;08/14/25 | 1012518 |
|  |  |  |  | 12857734 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** | **ARROW RESERVE CAPITAL MANAGEMENT ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** | | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 36.7% (Continued)** |  |  |  |  |
|  | **U.S. TREASURY NOTES** — **8.8%** | **U.S. TREASURY NOTES** — **8.8%** |  |  |  |
| 1075000 | United States Treasury Floating Rate Note<sup>(c)</sup> | USBMMY3M + 0.125% | 4.3960 | &nbsp;&nbsp;&nbsp;07/31/25 | $1075032 |
| 1374000 | United States Treasury Note |  | 4.5000 | &nbsp;&nbsp;&nbsp;03/31/26 | 1380918 |
| 1598000 | United States Treasury Note |  | 4.3750 | &nbsp;&nbsp;&nbsp;07/31/26 | 1608830 |
|  |  |  |  |  | 4064780 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $16,908,325)** | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $16,908,325)** |  |  | 16922514 |
|  | **TOTAL INVESTMENTS - 99.7% (Cost $45,872,732)** | **TOTAL INVESTMENTS - 99.7% (Cost $45,872,732)** |  |  | &nbsp;&nbsp;&nbsp; $45932485 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.3%** | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.3%** |  |  | &nbsp;&nbsp; 157335 |
|  | **NET ASSETS - 100.0%** |  |  |  | &nbsp;&nbsp; $46089820 |

---

---

| | |
|:---|:---|
| LP | - Limited Partnership |
| LTD | - Limited Company |
| PLC | - Public Limited Company |
| REIT | - Real Estate Investment Trust |
| USBMMY3M | US Treasury 3 Month Bill Money Market Yield |
| <sup>(a)</sup> | Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of April 30, 2025 the total market value of 144A securities is $573,886 or 1.2% of net assets. |
| <sup>(b)</sup> | Zero coupon bond. |
| <sup>(c)</sup> | Floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Arrow Investments Trust

- **b. Investment Company Act file number:** 811-22638

- **c. CIK number of Registrant:** 0001527428

- **d. LEI of Registrant:** 549300IHK71DVRHETY77

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

  - **Street Address 1:** 6100 CHEVY CHASE DR

  - **City:** LAUREL

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 20707

  - **Telephone number:** 301-260-1001

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

- **a. Name of Series:** Arrow Reserve Capital Management ETF

- **b. EDGAR series identifier (if any):** S000056852

- **c. LEI of Series:** 549300GPRB7MNVTZN171

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

- **a. Date of fiscal year-end:** 2026-01-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $46520917.23

**Total Liabilities:** $431097.37

**Net Assets:** $46089819.86

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 599.06052100 | **1-Year:** 708.45832200 | **5-Year:** 18.00547800 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000180528 | 0.34%                | 0.33%                | 0.36%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $435.49                  | $-10211.61                                 |
| Month 2  | $208.35                  | $-17009.14                                 |
| Month 3  | $-18.46                  | $-749.85                                   |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AT&T Inc                                       | T 3 7/8 01/15/26      | CUSIP: 00206RHT2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     34000 | PA      | $33848.96     | 0.07%             | 2026-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Chubb INA Holdings Inc                         | CB 3.35 05/03/26      | CUSIP: 00440EAV9<br>LEI: CZCBJZWDMLTHWJDXU843 | Long             | DBT              | CORP              | US        |    444000 | PA      | $439573.43    | 0.95%             | 2026-05-03      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| The Allstate Corporation                       | ALL 0 3/4 12/15/25    | CUSIP: 020002BH3<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |    825000 | PA      | $805744.85    | 1.75%             | 2025-12-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Altria Group, Inc.                             | MO 2.35 05/06/25      | CUSIP: 02209SBH5<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |   1013000 | PA      | $1012608.58   | 2.20%             | 2025-05-06      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| American Express Company                       | AXP 3.95 08/01/25     | CUSIP: 025816CY3<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    748000 | PA      | $746524.58    | 1.62%             | 2025-08-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                         | TFC 3.7 06/05/25      | CUSIP: 05531FBE2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    345000 | PA      | $344631.33    | 0.75%             | 2025-06-05      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Bank of America, N.A.                          | BAC 5.65 08/18/25     | CUSIP: 06428CAC8<br>LEI: B4TYDEB6GKMZO031MB27 | Long             | DBT              | CORP              | US        |    923000 | PA      | $925338.14    | 2.01%             | 2025-08-18      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Boston Scientific Corporation                  | BSX 3 3/4 03/01/26    | CUSIP: 101137AW7<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | DBT              | CORP              | US        |    162000 | PA      | $161000.21    | 0.35%             | 2026-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Company                   | BMY 0 3/4 11/13/25    | CUSIP: 110122DN5<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |     89000 | PA      | $87350.75     | 0.19%             | 2025-11-13      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Company                   | BMY 4.95 02/20/26     | CUSIP: 110122ED6<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    463000 | PA      | $465580.30    | 1.01%             | 2026-02-20      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                   | AVGO 3.459 09/15/26   | CUSIP: 11135FAN1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9873.95      | 0.02%             | 2026-09-15      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                   | AVGO 3.15 11/15/25    | CUSIP: 11135FBB6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    595000 | PA      | $590395.00    | 1.28%             | 2025-11-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| CSX Corporation                                | CSX 3.35 11/01/25     | CUSIP: 126408HD8<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |    326000 | PA      | $324286.75    | 0.70%             | 2025-11-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                    | COF 4.2 10/29/25      | CUSIP: 14040HBJ3<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    692000 | PA      | $690737.91    | 1.50%             | 2025-10-29      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Citibank, N.A.                                 | C 5.864 09/29/25      | CUSIP: 17325FBA5<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |    840000 | PA      | $843546.77    | 1.83%             | 2025-09-29      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| Colgate-Palmolive Co.                          | CL 3.1 08/15/25       | CUSIP: 194162AM5<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64737.72     | 0.14%             | 2025-08-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Constellation Brands, Inc.                     | STZ 5 02/02/26        | CUSIP: 21036PBN7<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    444000 | PA      | $443942.44    | 0.96%             | 2026-02-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                            | D 3.9 10/01/25        | CUSIP: 25746UCE7<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    885000 | PA      | $882570.68    | 1.91%             | 2025-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp                               | DUK 2.65 09/01/26     | CUSIP: 26441CAS4<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    252000 | PA      | $246150.46    | 0.53%             | 2026-09-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp                               | DUK 5 12/08/25        | CUSIP: 26441CBV6<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    459000 | PA      | $460819.18    | 1.00%             | 2025-12-08      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Exelon Corp.                                   | EXC 3.95 06/15/25     | CUSIP: 30161NAN1<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59922.86     | 0.13%             | 2025-06-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| FedEx Corporation                              | FDX 3 1/4 04/01/26    | CUSIP: 31428XBF2<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    388000 | PA      | $383379.52    | 0.83%             | 2026-04-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bank of Cincinnati                 | FITB 3.95 07/28/25    | CUSIP: 31677QBM0<br>LEI: QFROUN1UWUYU0DVIWD51 | Long             | DBT              | CORP              | US        |    780000 | PA      | $778008.58    | 1.69%             | 2025-07-28      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc.                           | GILD 3.65 03/01/26    | CUSIP: 375558BF9<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    163000 | PA      | $162094.00    | 0.35%             | 2026-03-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                      | GS 3.85 01/26/27      | CUSIP: 38141GWB6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    102000 | PA      | $101155.16    | 0.22%             | 2027-01-26      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                      | GS 3 3/4 02/25/26     | CUSIP: 38143U8H7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    305000 | PA      | $303774.97    | 0.66%             | 2026-02-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                      | GS 3 3/4 05/22/25     | CUSIP: 38148LAE6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     47000 | PA      | $46969.44     | 0.10%             | 2025-05-22      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Honeywell International Inc.                   | HON 1.35 06/01/25     | CUSIP: 438516CB0<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |     54000 | PA      | $53831.44     | 0.12%             | 2025-06-01      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| Host Hotels & Resorts, L.P.                    | HST 4 06/15/25        | CUSIP: 44107TAV8<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              | CORP              | US        |    851000 | PA      | $849684.46    | 1.84%             | 2025-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Host Hotels & Resorts, L.P.                    | HST 4 1/2 02/01/26    | CUSIP: 44107TAW6<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              | CORP              | US        |    101000 | PA      | $100617.73    | 0.22%             | 2026-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Hubbell Incorporated                           | HUBB 3.35 03/01/26    | CUSIP: 443510AG7<br>LEI: 54930088VDQ6840Y6597 | Long             | DBT              | CORP              | US        |    680000 | PA      | $672729.17    | 1.46%             | 2026-03-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| J. B. Hunt Transport Services, Inc.            | JBHT 3 7/8 03/01/26   | CUSIP: 445658CF2<br>LEI: 549300XCD1MPI1C5GK90 | Long             | DBT              | CORP              | US        |    381000 | PA      | $378188.59    | 0.82%             | 2026-03-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Hyatt Hotels Corporation                       | H 4.85 03/15/26       | CUSIP: 448579AF9<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    463000 | PA      | $463156.50    | 1.00%             | 2026-03-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| International Business Machines Corporation    | IBM 3.45 02/19/26     | CUSIP: 459200JG7<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    269000 | PA      | $266922.78    | 0.58%             | 2026-02-19      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| International Business Machines Corporation    | IBM 4 07/27/25        | CUSIP: 459200KS9<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    531000 | PA      | $530164.61    | 1.15%             | 2025-07-27      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                           | JPM 3.9 07/15/25      | CUSIP: 46625HMN7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    625000 | PA      | $624321.51    | 1.35%             | 2025-07-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Johnson Controls International PLC             | JCI 3.9 02/14/26      | CUSIP: 478375AR9<br>LEI: 549300XQ6S1GYKGBL205 | Long             | DBT              | CORP              | IE        |    811000 | PA      | $804740.96    | 1.75%             | 2026-02-14      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association      | JPM 5.11 12/08/26     | CUSIP: 48125LRU8<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | DBT              | CORP              | US        |    250000 | PA      | $253752.87    | 0.55%             | 2026-12-08      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| KeyBank National Association                   | KEY 3.3 06/01/25      | CUSIP: 49327M2K9<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    250000 | PA      | $249567.68    | 0.54%             | 2025-06-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| KeyBank National Association                   | KEY 4.15 08/08/25     | CUSIP: 49327M3E2<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    806000 | PA      | $804731.94    | 1.75%             | 2025-08-08      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                          | LOW 4.4 09/08/25      | CUSIP: 548661EK9<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    658000 | PA      | $657523.65    | 1.43%             | 2025-09-08      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Marsh & McLennan Companies, Inc.               | MMC 3 3/4 03/14/26    | CUSIP: 571748AZ5<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |     21000 | PA      | $20878.45     | 0.05%             | 2026-03-14      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                   | MAR 5.45 09/15/26     | CUSIP: 571903BM4<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |     88000 | PA      | $88950.91     | 0.19%             | 2026-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| McCormick & Company, Incorporated              | MKC 3 1/4 11/15/25    | CUSIP: 579780AK3<br>LEI: 549300JQQA6MQ4OJP259 | Long             | DBT              | CORP              | US        |    790000 | PA      | $784230.39    | 1.70%             | 2025-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                 | MS 4 07/23/25         | CUSIP: 6174468C6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    162000 | PA      | $161774.10    | 0.35%             | 2025-07-23      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                 | MS 3 7/8 01/27/26     | CUSIP: 61746BDZ6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    425000 | PA      | $423243.45    | 0.92%             | 2026-01-27      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| New York Life Global Funding                   | NYLIFE 3.6 08/05/25   | CUSIP: 64952WEU3<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174510.98    | 0.38%             | 2025-08-05      | Fixed         | 3.60%                 | Yes           |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH        | NYCGEN 3.35 08/1/2025 | CUSIP: 64971XEJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $289340.48    | 0.63%             | 2025-08-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings Inc            | NEE 5.749 09/01/25    | CUSIP: 65339KBS8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    281000 | PA      | $281816.79    | 0.61%             | 2025-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings Inc            | NEE 4.45 06/20/25     | CUSIP: 65339KCG3<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    159000 | PA      | $158853.87    | 0.34%             | 2025-06-20      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings Inc            | NEE 4.95 01/29/26     | CUSIP: 65339KCS7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    253000 | PA      | $253549.91    | 0.55%             | 2026-01-29      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co LP / PTL Finance Corp. | PENSKE 4.45 01/29/26  | CUSIP: 709599BE3<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | DBT              | CORP              | US        |     64000 | PA      | $63798.27     | 0.14%             | 2026-01-29      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| Penske Truck Leasing Co LP / PTL Finance Corp. | PENSKE 5 3/4 05/24/26 | CUSIP: 709599BU7<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | DBT              | CORP              | US        |    332000 | PA      | $335577.36    | 0.73%             | 2026-05-24      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Pfizer Investment Enterprises Pte Ltd.         | PFE 4.65 05/19/25     | CUSIP: 716973AA0<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |    939000 | PA      | $938956.34    | 2.04%             | 2025-05-19      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Realty Income Corporation                      | O 4 5/8 11/01/25      | CUSIP: 756109BE3<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |     11000 | PA      | $10996.26     | 0.02%             | 2025-11-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Realty Income Corporation                      | O 5.05 01/13/26       | CUSIP: 756109BQ6<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |    266000 | PA      | $265813.83    | 0.58%             | 2026-01-13      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Realty Income Corporation                      | O 4.45 09/15/26       | CUSIP: 756109BY9<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |    163000 | PA      | $162487.67    | 0.35%             | 2026-09-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| The Sherwin-Williams Company                   | SHW 3.95 01/15/26     | CUSIP: 824348BF2<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    445000 | PA      | $443619.05    | 0.96%             | 2026-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| The Sherwin-Williams Company                   | SHW 4 1/4 08/08/25    | CUSIP: 824348BR6<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |     72000 | PA      | $71903.62     | 0.16%             | 2025-08-08      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                  | STT 4.594 11/25/26    | CUSIP: 857449AC6<br>LEI: 571474TGEMMWANRLN572 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252187.01    | 0.55%             | 2026-11-25      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                         | TFC 4 05/01/25        | CUSIP: 867914BS1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    101000 | PA      | $101000.00    | 0.22%             | 2025-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Synchrony Financial                            | SYF 4 7/8 06/13/25    | CUSIP: 87165BAS2<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    109000 | PA      | $108920.09    | 0.24%             | 2025-06-13      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Synchrony Bank                                 | SYF 5.4 08/22/25      | CUSIP: 87166FAD5<br>LEI: 549300UATVPGSLE43Z27 | Long             | DBT              | CORP              | US        |    819000 | PA      | $819305.09    | 1.78%             | 2025-08-22      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Bills                   | B 05/08/25            | CUSIP: 912797NE3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2950000 | PA      | $2947592.33   | 6.40%             | 2025-05-08      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                   | B 05/29/25            | CUSIP: 912797NN3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2420000 | PA      | $2412074.43   | 5.23%             | 2025-05-29      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                   | B 05/06/25            | CUSIP: 912797PC5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1695000 | PA      | $1694011.83   | 3.68%             | 2025-05-06      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                   | B 08/14/25            | CUSIP: 912797PN1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1025000 | PA      | $1012518.49   | 2.20%             | 2025-08-14      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                   | B 06/24/25            | CUSIP: 912797PT8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     90000 | PA      | $89430.30     | 0.19%             | 2025-06-24      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                   | B 07/01/25            | CUSIP: 912797PU5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    900000 | PA      | $893610.25    | 1.94%             | 2025-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                   | B 07/15/25            | CUSIP: 912797QA8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1982583.34   | 4.30%             | 2025-07-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                   | B 07/29/25            | CUSIP: 912797QC4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1845000 | PA      | $1825912.31   | 3.96%             | 2025-07-29      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                   | TF FLOAT 07/31/25     | CUSIP: 91282CHS3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1075000 | PA      | $1075032.39   | 2.33%             | 2025-07-31      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                   | T 4 1/2 03/31/26      | CUSIP: 91282CKH3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1374000 | PA      | $1380917.79   | 3.00%             | 2026-03-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                   | T 4 3/8 07/31/26      | CUSIP: 91282CLB5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1598000 | PA      | $1608830.19   | 3.49%             | 2026-07-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                      | RTX 3.95 08/16/25     | CUSIP: 913017DD8<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   2009000 | PA      | $2004184.41   | 4.35%             | 2025-08-16      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| WEC Energy Group Inc.                          | WEC 4 3/4 01/09/26    | CUSIP: 92939UAK2<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |    849000 | PA      | $849886.17    | 1.84%             | 2026-01-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                              | WFC 3 04/22/26        | CUSIP: 949746RW3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    581000 | PA      | $573340.18    | 1.24%             | 2026-04-22      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank, National Association         | WFC 5.55 08/01/25     | CUSIP: 94988J6B8<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |    395000 | PA      | $395699.44    | 0.86%             | 2025-08-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc.                                    | ZTS 4 1/2 11/13/25    | CUSIP: 98978VAK9<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |    161000 | PA      | $160924.99    | 0.35%             | 2025-11-13      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc.                                    | ZTS 5.4 11/14/25      | CUSIP: 98978VAU7<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |    687000 | PA      | $689721.80    | 1.50%             | 2025-11-14      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BBH SWEEP VEHICLE                              | BBH SWEEP VEHICLE     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |     31579 | PA      | $31578.57     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-28

**Name of Applicant:** Arrow Investments Trust

**Signature:** Sam Singh

**Name of Signer:** Sam Singh

**Title:** Treasurer