VANECK
IG
FLOATING
RATE
ETF
SCHEDULE
OF
INVESTMENTS
July
31,
2024
(unaudited)
1
cap
Par
(000's)
Value
FLOATING
RATE
NOTES
:
98.7%
Australia
:
10.1%
Australia
&
New
Zealand
Banking
Group
Ltd.
144A
5.93%
(SOFR+0.56%),
03/18/26
$
11,365
$
11,381,706
6.01%
(SOFR+0.64%),
10/03/25
3,275
3,285,551
6.05%
(SOFR+0.68%),
07/16/27
500
500,941
6.12%
(SOFR+0.75%),
07/03/25
4,710
4,730,020
6.18%
(SOFR+0.81%),
01/18/27
†
20,723
20,836,643
Commonwealth
Bank
of
Australia
144A
5.77%
(SOFR+0.40%),
07/07/25
7,511
7,512,333
5.89%
(SOFR+0.52%),
06/15/26
4,554
4,554,523
6.00%
(SOFR+0.63%),
09/12/25
†
3,007
3,016,852
6.11%
(SOFR+0.74%),
03/14/25
3,550
3,560,481
6.12%
(SOFR+0.75%),
03/13/26
†
4,550
4,571,631
6.34%
(SOFR+0.97%),
03/14/27
10,201
10,296,958
Macquarie
Bank
Ltd.
144A
6.57%
(SOFR+1.20%),
12/07/26
3,300
3,337,808
6.61%
(SOFR+1.24%),
06/15/26
2,750
2,778,828
6.68%
(SOFR+1.31%),
03/21/25
2,475
2,490,943
Macquarie
Group
Ltd.
144A
6.08%
(SOFR+0.71%),
10/14/25
2,095
2,095,441
6.29%
(SOFR+0.92%),
09/23/27
11,575
11,613,023
National
Australia
Bank
Ltd.
144A
5.92%
(SOFR+0.55%),
01/29/26
2,400
2,403,597
5.99%
(SOFR+0.62%),
06/11/27
†
24,700
24,722,443
6.02%
(SOFR+0.65%),
12/10/25
3,292
3,306,281
6.02%
(SOFR+0.65%),
01/12/27
14,425
14,444,686
6.12%
(SOFR+0.76%),
05/13/25
3,175
3,183,449
6.23%
(SOFR+0.86%),
06/09/25
2,425
2,435,735
Westpac
Banking
Corp.
5.79%
(SOFR+0.42%),
04/16/26
6,825
6,821,490
5.89%
(SOFR+0.52%),
06/03/26
2,751
2,753,951
Par
(000’s)
Value
Australia
(continued)
6.08%
(SOFR+0.72%),
11/17/25
$
2,567
$
2,579,188
6.18%
(SOFR+0.81%),
04/16/29
21,775
21,858,986
6.37%
(SOFR+1.00%),
08/26/25
2,740
2,757,638
Westpac
Banking
Corp.
144A
5.92%
(SOFR+0.55%),
01/29/26
2,750
2,754,585
186,585,711
Canada
:
7.0%
Bank
of
Montreal
5.99%
(SOFR
Compound
Index+0.62%),
09/15/26
3,675
3,679,836
6.13%
(SOFR
Compound
Index+0.76%),
06/04/27
†
13,125
13,126,710
6.32%
(SOFR
Compound
Index+0.95%),
09/25/25
1,500
1,509,743
6.43%
(SOFR
Compound
Index+1.06%),
06/07/25
1,462
1,469,862
6.53%
(SOFR
Compound
Index+1.16%),
12/11/26
3,202
3,239,857
6.70%
(SOFR
Compound
Index+1.33%),
06/05/26
3,675
3,723,126
Bank
of
Nova
Scotia
5.91%
(SOFR
Compound
Index+0.55%),
03/02/26
2,750
2,747,841
5.98%
(SOFR+0.61%),
09/15/26
2,639
2,637,314
6.15%
(SOFR
Compound
Index+0.78%),
06/04/27
11,650
11,645,434
6.27%
(SOFR
Compound
Index+0.90%),
04/11/25
1,840
1,847,307
6.46%
(SOFR
Compound
Index+1.09%),
06/12/25
2,117
2,129,585
6.47%
(SOFR
Compound
Index+1.08%),
08/01/29
8,650
8,660,775
Canadian
Imperial
Bank
of
Commerce
6.31%
(SOFR
Compound
Index+0.94%),
04/07/25
3,391
3,401,585
6.59%
(SOFR+1.22%),
10/02/26
3,225
3,257,758
Royal
Bank
of
Canada
5.89%
(SOFR
Compound
Index+0.53%),
01/20/26
1,592
1,592,642
5.94%
(SOFR
Compound
Index+0.57%),
04/27/26
2,750
2,749,513
5.95%
(SOFR
Compound
Index+0.59%),
11/02/26
3,200
3,199,659
6.08%
(SOFR
Compound
Index+0.71%),
01/21/27
8,745
8,762,546
6.21%
(SOFR
Compound
Index+0.84%),
04/14/25
2,020
2,027,917
6.32%
(SOFR
Compound
Index+0.95%),
01/19/27
14,550
14,663,655
6.45%
(SOFR
Compound
Index+1.08%),
01/12/26
1,500
1,513,243
VANECK
IG
FLOATING
RATE
ETF
SCHEDULE
OF
INVESTMENTS
(unaudited)
(continued)
2
Par
(000’s)
Value
Canada
(continued)
6.45%
(SOFR
Compound
Index+1.08%),
07/20/26
$
3,195
$
3,224,529
Toronto-Dominion
Bank
5.85%
(SOFR+0.48%),
10/10/25
2,600
2,602,676
5.96%
(SOFR+0.59%),
09/10/26
2,750
2,751,391
6.10%
(SOFR+0.73%),
04/05/27
†
14,525
14,556,301
6.39%
(SOFR+1.02%),
06/06/25
1,850
1,860,428
6.45%
(SOFR+1.08%),
07/17/26
4,100
4,141,890
TransCanada
PipeLines
Ltd.
6.89%
(SOFR
Compound
Index+1.52%),
03/09/26
3,675
3,677,373
130,400,496
Finland
:
0.9%
Nordea
Bank
Abp
144A
6.11%
(SOFR+0.74%),
03/19/27
14,500
14,559,163
6.33%
(SOFR+0.96%),
06/06/25
1,500
1,507,958
16,067,121
France
:
3.4%
Banque
Federative
du
Credit
Mutuel
SA
144A
5.77%
(SOFR
Compound
Index+0.41%),
02/04/25
3,000
3,000,379
6.50%
(SOFR+1.13%),
01/23/27
8,750
8,824,529
6.77%
(SOFR
Compound
Index+1.40%),
07/13/26
3,205
3,249,489
BPCE
SA
144A
6.33%
(SOFR+0.96%),
09/25/25
2,375
2,389,056
7.35%
(SOFR
Compound
Index+1.98%),
10/19/27
8,750
8,926,798
Credit
Agricole
SA
144A
6.24%
(SOFR+0.87%),
03/11/27
17,450
17,478,470
6.66%
(SOFR+1.29%),
07/05/26
4,550
4,603,266
Societe
Generale
SA
144A
6.42%
(SOFR+1.05%),
01/21/26
3,905
3,910,643
7.03%
(SOFR+1.66%),
01/19/28
10,185
10,286,385
62,669,015
Japan
:
3.3%
Mitsubishi
UFJ
Financial
Group,
Inc.
6.30%
(SOFR+0.94%),
02/20/26
6,736
6,754,248
6.75%
(SOFR+1.39%),
09/12/25
1,956
1,958,649
6.81%
(SOFR+1.44%),
04/17/26
1,550
1,560,460
Mizuho
Financial
Group,
Inc.
Par
(000’s)
Value
Japan
(continued)
6.32%
(SOFR+0.96%),
05/22/26
$
6,850
$
6,878,512
Nomura
Holdings,
Inc.
6.62%
(SOFR+1.25%),
07/02/27
14,600
14,712,240
Sumitomo
Mitsui
Financial
Group,
Inc.
6.25%
(SOFR+0.88%),
01/14/27
16,800
16,907,310
6.67%
(SOFR+1.30%),
07/13/26
2,200
2,233,851
6.80%
(SOFR+1.43%),
01/13/26
724
734,072
Sumitomo
Mitsui
Trust
Bank
Ltd.
144A
6.49%
(SOFR+1.12%),
03/09/26
†
4,575
4,619,869
6.52%
(SOFR+1.15%),
09/14/26
4,575
4,631,540
60,990,751
Netherlands
:
2.5%
ABN
AMRO
Bank
NV
144A
7.15%
(SOFR
Compound
Index+1.78%),
09/18/27
14,565
14,805,613
ING
Groep
NV
6.38%
(SOFR
Compound
Index+1.01%),
04/01/27
4,715
4,729,019
6.93%
(SOFR+1.56%),
09/11/27
21,300
21,620,592
7.01%
(SOFR
Compound
Index+1.64%),
03/28/26
4,560
4,592,532
45,747,756
New
Zealand
:
0.6%
Bank
of
New
Zealand
144A
6.18%
(SOFR+0.81%),
01/27/27
11,700
11,720,272
Underline
Singapore
:
0.7%
DBS
Group
Holdings
Ltd.
144A
5.98%
(SOFR+0.61%),
09/12/25
3,950
3,958,625
Pepsico
Singapore
Financing
I
Pte
Ltd.
5.92%
(SOFR
Compound
Index+0.56%),
02/16/27
7,425
7,453,051
United
Overseas
Bank
Ltd.
144A
6.07%
(SOFR
Compound
Index+0.70%),
04/07/25
1,875
1,878,679
13,290,355
South
Korea
:
0.9%
Korea
National
Oil
Corp.
144A
6.20%
(SOFR+0.83%),
04/03/27
8,750
8,796,104
6.44%
(SOFR+1.08%),
11/14/26
4,550
4,619,665
Shinhan
Bank
Co.
Ltd.
144A
3
Par
(000’s)
Value
South
Korea
(continued)
7.24%
(Term
SOFR
USD
3
Month+1.96%),
04/24/25
$
2,650
$
2,675,394
16,091,163
Spain
:
0.6%
Banco
Santander
SA
6.75%
(SOFR+1.38%),
03/14/28
11,675
11,759,152
Underline
Sweden
:
2.0%
Skandinaviska
Enskilda
Banken
AB
144A
6.26%
(SOFR+0.89%),
03/05/27
10,225
10,300,468
6.33%
(SOFR+0.96%),
06/09/25
2,125
2,136,221
Svenska
Handelsbanken
AB
144A
6.03%
(SOFR+0.66%),
05/28/27
11,650
11,674,441
6.28%
(SOFR+0.91%),
06/10/25
1,850
1,859,933
6.62%
(SOFR+1.25%),
06/15/26
4,559
4,623,115
Swedbank
AB
144A
6.28%
(SOFR
Compound
Index+0.91%),
04/04/25
2,125
2,132,192
6.75%
(SOFR
Compound
Index+1.38%),
06/15/26
3,675
3,731,877
36,458,247
Switzerland
:
0.3%
UBS
Group
AG
144A
6.94%
(SOFR+1.58%),
05/12/26
5,469
5,510,733
Underline
United
Kingdom
:
9.9%
ANZ
New
Zealand
Int'l
Ltd.
144A
5.96%
(SOFR+0.60%),
02/18/25
2,000
2,002,898
Barclays
Plc
6.86%
(SOFR+1.49%),
03/12/28
19,375
19,593,133
7.25%
(SOFR+1.88%),
09/13/27
3,995
4,075,183
HSBC
Holdings
Plc
6.80%
(SOFR+1.43%),
03/10/26
2,250
2,264,726
6.93%
(SOFR+1.57%),
08/14/27
20,355
20,682,381
6.98%
(Term
SOFR
USD
3
Month+1.64%),
09/12/26
9,042
9,147,222
Lloyds
Banking
Group
Plc
6.92%
(SOFR
Compound
Index+1.56%),
08/07/27
18,800
19,082,464
6.95%
(SOFR
Compound
Index+1.58%),
01/05/28
4,450
4,512,258
Nationwide
Building
Society
144A
6.65%
(SOFR+1.29%),
02/16/28
8,775
8,859,050
Par
(000’s)
Value
United
Kingdom
(continued)
NatWest
Group
Plc
6.62%
(SOFR+1.25%),
03/01/28
$
8,750
$
8,804,612
NatWest
Markets
Plc
144A
6.13%
(SOFR+0.76%),
09/29/26
2,750
2,746,977
6.26%
(SOFR+0.90%),
05/17/27
14,463
14,502,166
6.50%
(SOFR+1.14%),
05/17/29
11,650
11,700,718
6.82%
(SOFR+1.45%),
03/22/25
2,605
2,621,783
Standard
Chartered
Plc
144A
6.30%
(SOFR+0.93%),
11/23/25
2,400
2,401,577
6.53%
(SOFR+1.17%),
05/14/28
13,083
13,117,981
7.11%
(SOFR+1.74%),
03/30/26
3,818
3,843,315
7.30%
(SOFR+1.93%),
07/06/27
20,100
20,488,331
7.39%
(SOFR+2.03%),
02/08/28
8,501
8,705,139
UBS
AG
6.30%
(SOFR+0.93%),
09/11/25
3,000
3,019,406
182,171,320
United
States
:
56.5%
American
Express
Co.
6.01%
(SOFR
Compound
Index+0.65%),
11/04/26
4,555
4,564,323
6.12%
(SOFR+0.76%),
02/13/26
2,750
2,760,663
6.12%
(SOFR+0.75%),
04/23/27
10,000
10,015,680
6.30%
(SOFR
Compound
Index+0.93%),
03/04/25
2,620
2,629,707
6.30%
(SOFR+0.93%),
07/26/28
2,000
2,004,110
6.34%
(SOFR
Compound
Index+0.97%),
07/28/27
4,564
4,584,864
6.36%
(SOFR
Compound
Index+1.00%),
02/16/28
9,350
9,394,394
6.72%
(SOFR
Compound
Index+1.35%),
10/30/26
2,725
2,753,505
American
Honda
Finance
Corp.
5.87%
(SOFR+0.50%),
10/10/25
250
250,172
5.87%
(SOFR+0.50%),
01/12/26
1,100
1,101,213
5.96%
(SOFR+0.60%),
08/14/25
4,100
4,110,575
6.08%
(SOFR+0.71%),
01/09/26
4,200
4,214,496
6.08%
(SOFR+0.71%),
07/09/27
500
500,732
6.14%
(SOFR+0.77%),
03/12/27
7,313
7,340,011
VANECK
IG
FLOATING
RATE
ETF
SCHEDULE
OF
INVESTMENTS
(unaudited)
(continued)
4
Par
(000’s)
Value
United
States
(continued)
6.15%
(SOFR
Compound
Index+0.78%),
04/23/25
$
2,500
$
2,508,741
6.16%
(SOFR
Compound
Index+0.79%),
10/03/25
1,552
1,558,111
6.29%
(SOFR+0.92%),
01/12/26
1,567
1,577,092
Athene
Global
Funding
144A
6.21%
(SOFR
Compound
Index+0.85%),
05/08/26
2,725
2,728,905
6.58%
(SOFR
Compound
Index+1.21%),
03/25/27
11,675
11,739,718
Bank
of
America
Corp.
6.34%
(SOFR+0.97%),
07/22/27
5,318
5,348,764
6.36%
(Term
SOFR
USD
3
Month+1.03%),
02/05/26
4,442
4,457,048
6.36%
(Term
SOFR
USD
3
Month+1.02%),
09/15/26
2,050
2,055,701
6.41%
(SOFR+1.05%),
02/04/28
14,540
14,642,004
6.72%
(SOFR+1.35%),
09/15/27
19,000
19,261,354
Bank
of
America
NA
6.15%
(SOFR+0.78%),
08/18/25
2,100
2,109,328
6.38%
(SOFR+1.02%),
08/18/26
17,075
17,255,718
Bank
of
New
York
Mellon
Corp.
5.82%
(SOFR+0.45%),
03/13/26
5,475
5,478,627
5.99%
(SOFR+0.62%),
04/25/25
1,100
1,102,701
BMW
US
Capital
LLC
144A
5.92%
(SOFR
Compound
Index+0.55%),
04/02/26
6,400
6,423,957
5.98%
(SOFR
Compound
Index+0.62%),
08/11/25
4,398
4,410,627
6.21%
(SOFR
Compound
Index+0.84%),
04/01/25
750
753,018
Bristol-Myers
Squibb
Co.
5.86%
(SOFR+0.49%),
02/20/26
4,600
4,618,377
Caterpillar
Financial
Services
Corp.
5.82%
(SOFR+0.46%),
08/11/25
1,825
1,830,151
5.83%
(SOFR+0.46%),
02/27/26
5,475
5,492,871
5.88%
(SOFR+0.52%),
05/14/27
†
11,650
11,683,259
5.89%
(SOFR+0.52%),
06/13/25
2,495
2,502,235
Charles
Schwab
Corp.
5.88%
(SOFR
Compound
Index+0.52%),
05/13/26
4,558
4,559,286
6.42%
(SOFR
Compound
Index+1.05%),
03/03/27
14,540
14,641,554
Citibank
NA
Par
(000’s)
Value
United
States
(continued)
5.96%
(SOFR
Compound
Index+0.59%),
04/30/26
$
2,750
$
2,751,041
6.17%
(SOFR+0.81%),
09/29/25
3,925
3,941,933
6.43%
(SOFR
Compound
Index+1.06%),
12/04/26
1,400
1,418,336
Citigroup,
Inc.
6.14%
(SOFR+0.77%),
06/09/27
7,663
7,659,365
6.15%
(Term
SOFR
USD
3
Month+0.81%),
08/25/36
14,173
12,341,932
6.65%
(SOFR+1.28%),
02/24/28
18,553
18,743,790
6.84%
(Term
SOFR
USD
3
Month+1.51%),
07/01/26
16,000
16,166,268
Cooperatieve
Rabobank
UA
6.07%
(SOFR
Compound
Index+0.70%),
07/18/25
4,825
4,841,946
6.08%
(SOFR
Compound
Index+0.71%),
01/09/26
3,975
3,993,708
6.08%
(SOFR
Compound
Index+0.71%),
03/05/27
17,275
17,337,741
6.27%
(SOFR
Compound
Index+0.90%),
10/05/26
1,300
1,309,466
Corebridge
Global
Funding
144A
6.67%
(SOFR+1.30%),
09/25/26
3,675
3,707,820
Daimler
Truck
Finance
North
America
LLC
144A
6.33%
(SOFR+0.96%),
09/25/27
10,225
10,255,702
Deutsche
Bank
AG
6.58%
(SOFR+1.22%),
11/16/27
8,700
8,684,165
Ford
Motor
Credit
Co.
LLC
8.32%
(SOFR+2.95%),
03/06/26
2,775
2,863,017
GA
Global
Funding
Trust
144A
6.73%
(SOFR+1.36%),
04/11/25
1,605
1,614,241
General
Electric
Co.
5.97%
(Term
SOFR
USD
3
Month+0.64%),
05/05/26
8,171
8,206,405
General
Motors
Financial
Co.,
Inc.
6.41%
(SOFR+1.04%),
02/26/27
5,547
5,568,846
6.43%
(SOFR
Compound
Index+1.05%),
07/15/27
10,750
10,757,594
6.67%
(SOFR
Compound
Index+1.30%),
04/07/25
1,490
1,498,764
6.71%
(SOFR
Compound
Index+1.35%),
05/08/27
14,200
14,336,639
Georgia
Power
Co.
6.11%
(SOFR
Compound
Index+0.75%),
05/08/25
3,687
3,700,975
Glencore
Funding
LLC
144A
5
Par
(000’s)
Value
United
States
(continued)
6.43%
(SOFR
Compound
Index+1.06%),
04/04/27
$
10,225
$
10,248,789
Goldman
Sachs
Bank
USA
6.12%
(SOFR+0.75%),
05/21/27
24,770
24,789,412
6.14%
(SOFR+0.77%),
03/18/27
31,400
31,409,530
Goldman
Sachs
Group,
Inc.
6.16%
(SOFR+0.79%),
12/09/26
2,430
2,434,408
6.18%
(SOFR+0.81%),
03/09/27
10,591
10,596,029
6.19%
(SOFR+0.82%),
09/10/27
8,172
8,181,939
6.29%
(SOFR+0.92%),
10/21/27
2,271
2,280,667
6.43%
(SOFR+1.06%),
08/10/26
6,200
6,221,032
6.49%
(SOFR+1.12%),
02/24/28
6,829
6,883,020
6.75%
(Term
SOFR
USD
3
Month+1.43%),
05/15/26
14,331
14,420,625
7.22%
(SOFR+1.85%),
03/15/28
8,750
8,950,445
7.28%
(Term
SOFR
USD
3
Month+2.01%),
10/28/27
28,549
29,342,607
Hartford
Financial
Services
Group,
Inc.
144A
7.71%
(Term
SOFR
USD
3
Month+2.39%),
02/12/47
14,483
13,052,316
HSBC
USA,
Inc.
6.33%
(SOFR+0.96%),
03/04/27
14,525
14,631,898
Hyundai
Capital
America
144A
6.41%
(SOFR+1.04%),
03/19/27
11,650
11,739,385
6.51%
(SOFR+1.15%),
08/04/25
2,550
2,562,983
6.68%
(SOFR+1.32%),
11/03/25
1,495
1,506,279
6.87%
(SOFR+1.50%),
01/08/27
2,750
2,792,347
John
Deere
Capital
Corp.
5.81%
(SOFR+0.44%),
03/06/26
6,825
6,842,462
5.85%
(SOFR+0.48%),
10/22/25
2,100
2,104,044
5.87%
(SOFR+0.50%),
07/03/25
2,602
2,606,236
5.93%
(SOFR+0.56%),
03/07/25
1,475
1,478,527
5.94%
(SOFR+0.57%),
03/03/26
2,737
2,746,866
5.97%
(SOFR+0.60%),
04/19/27
9,475
9,506,484
6.16%
(SOFR
Compound
Index+0.79%),
06/08/26
2,737
2,758,897
JPMorgan
Chase
&
Co.
Par
(000’s)
Value
United
States
(continued)
5.97%
(SOFR+0.60%),
12/10/25
$
2,100
$
2,107,720
6.13%
(SOFR+0.77%),
09/22/27
12,525
12,547,191
6.25%
(SOFR+0.89%),
04/22/27
†
13,402
13,463,236
6.29%
(SOFR+0.92%),
02/24/26
†
8,000
8,025,679
6.29%
(SOFR+0.92%),
04/22/28
11,297
11,346,935
6.30%
(SOFR+0.93%),
07/22/28
500
500,975
6.55%
(SOFR+1.18%),
02/24/28
32,233
32,623,852
6.57%
(SOFR+1.20%),
01/23/28
14,750
14,923,563
6.58%
(Term
SOFR
USD
3
Month+1.26%),
05/15/47
10,350
9,488,765
6.69%
(SOFR+1.32%),
04/26/26
5,727
5,765,860
JPMorgan
Chase
Bank
NA
5.99%
(SOFR+0.62%),
04/29/26
2,750
2,762,431
6.37%
(SOFR+1.00%),
12/08/26
9,100
9,211,454
Keurig
Dr
Pepper,
Inc.
6.25%
(SOFR
Compound
Index+0.88%),
03/15/27
10,225
10,295,514
MassMutual
Global
Funding
II
144A
6.11%
(SOFR+0.74%),
04/09/27
10,185
10,204,534
6.14%
(SOFR+0.77%),
01/29/27
8,725
8,747,042
6.24%
(SOFR+0.87%),
03/21/25
1,450
1,455,348
6.35%
(SOFR+0.98%),
07/10/26
4,575
4,614,502
Mercedes-Benz
Finance
North
America
LLC
144A
5.94%
(SOFR+0.57%),
08/01/25
750
751,363
6.04%
(SOFR+0.67%),
01/09/26
4,650
4,665,404
6.30%
(SOFR+0.93%),
03/30/25
1,597
1,604,664
Metropolitan
Life
Global
Funding
I
144A
5.94%
(SOFR
Compound
Index+0.57%),
04/09/26
850
850,657
6.07%
(SOFR
Compound
Index+0.70%),
06/11/27
10,200
10,221,378
6.28%
(SOFR
Compound
Index+0.91%),
03/21/25
3,250
3,263,881
Morgan
Stanley
6.32%
(SOFR+0.95%),
02/18/26
8,809
8,833,978
Morgan
Stanley
Bank
NA
VANECK
IG
FLOATING
RATE
ETF
SCHEDULE
OF
INVESTMENTS
(unaudited)
(continued)
6
Par
(000’s)
Value
United
States
(continued)
6.15%
(SOFR+0.78%),
07/16/25
$
4,350
$
4,368,789
6.23%
(SOFR+0.86%),
05/26/28
14,250
14,273,707
6.30%
(SOFR+0.94%),
07/14/28
500
501,350
6.45%
(SOFR+1.08%),
01/14/28
13,100
13,199,266
6.53%
(SOFR+1.17%),
10/30/26
†
5,050
5,108,830
National
Rural
Utilities
Cooperative
Finance
Corp.
6.06%
(SOFR+0.70%),
05/07/25
1,550
1,556,758
6.16%
(SOFR+0.80%),
02/05/27
8,775
8,812,370
New
York
Life
Global
Funding
144A
5.85%
(SOFR+0.48%),
06/09/26
1,950
1,954,687
5.95%
(SOFR
Compound
Index+0.58%),
01/16/26
6,800
6,828,642
5.98%
(SOFR
Compound
Index+0.61%),
04/21/25
4,500
4,510,757
6.04%
(SOFR+0.67%),
04/02/27
16,900
16,976,612
6.07%
(SOFR+0.70%),
06/13/25
1,418
1,423,656
6.30%
(SOFR
Compound
Index+0.93%),
04/02/26
1,900
1,919,745
NextEra
Energy
Capital
Holdings,
Inc.
6.13%
(SOFR
Compound
Index+0.76%),
01/29/26
5,500
5,523,783
Northwestern
Mutual
Global
Funding
144A
6.07%
(SOFR+0.70%),
06/13/25
1,875
1,881,021
Pacific
Life
Global
Funding
II
144A
5.97%
(SOFR+0.60%),
03/27/26
2,650
2,653,222
5.99%
(SOFR+0.62%),
06/04/26
1,125
1,126,634
6.17%
(SOFR
Compound
Index+0.80%),
03/30/25
1,475
1,479,861
6.21%
(SOFR+0.85%),
02/05/27
17,625
17,684,921
6.23%
(SOFR
Compound
Index+0.86%),
06/16/25
1,850
1,858,757
6.42%
(SOFR
Compound
Index+1.05%),
07/28/26
1,350
1,363,005
PepsiCo,
Inc.
5.76%
(SOFR
Compound
Index+0.40%),
02/13/26
†
4,500
4,513,399
Pinnacle
West
Capital
Corp.
6.19%
(SOFR+0.82%),
06/10/26
3,225
3,225,447
Par
(000’s)
Value
United
States
(continued)
Principal
Life
Global
Funding
II
144A
6.27%
(SOFR+0.90%),
08/28/25
$
1,600
$
1,607,130
Protective
Life
Global
Funding
144A
6.07%
(SOFR+0.70%),
04/10/26
2,750
2,755,190
6.35%
(SOFR+0.98%),
03/28/25
2,250
2,260,049
Public
Storage
Operating
Co.
5.97%
(SOFR
Compound
Index+0.60%),
07/25/25
†
2,110
2,117,351
6.07%
(SOFR
Compound
Index+0.70%),
04/16/27
20,375
20,445,470
Roche
Holdings,
Inc.
144A
5.93%
(SOFR+0.56%),
03/10/25
4,882
4,894,278
6.10%
(SOFR+0.74%),
11/13/26
†
1,750
1,764,883
State
Street
Corp.
6.21%
(SOFR
Compound
Index+0.84%),
08/03/26
2,771
2,785,427
Toyota
Motor
Credit
Corp.
5.81%
(SOFR+0.45%),
05/15/26
†
2,026
2,028,260
5.93%
(SOFR+0.60%),
06/09/25
3,675
3,683,715
6.02%
(SOFR+0.65%),
09/11/25
1,300
1,304,456
6.02%
(SOFR+0.65%),
01/05/26
8,550
8,587,707
6.02%
(SOFR+0.65%),
03/19/27
†
12,300
12,353,134
6.25%
(SOFR
Compound
Index+0.89%),
05/18/26
†
2,439
2,459,351
UBS
AG
6.63%
(SOFR
Compound
Index+1.26%),
02/21/25
1,050
1,054,992
Verizon
Communications,
Inc.
6.16%
(SOFR
Compound
Index+0.79%),
03/20/26
4,176
4,222,994
6.68%
(Term
SOFR
USD
3
Month+1.36%),
05/15/25
4,662
4,700,435
Volkswagen
Group
of
America
Finance
LLC
144A
6.20%
(SOFR+0.83%),
03/20/26
5,925
5,956,012
6.30%
(SOFR+0.93%),
09/12/25
2,625
2,639,739
Wells
Fargo
&
Co.
6.44%
(SOFR+1.07%),
04/22/28
28,650
28,824,980
6.69%
(SOFR+1.32%),
04/25/26
8,375
8,445,520
Wells
Fargo
Bank
NA
6.08%
(SOFR+0.71%),
01/15/26
2,370
2,379,285
7
FootnoteRuleAboveBlank
Footnotes:
Par
(000’s)
Value
United
States
(continued)
6.17%
(SOFR+0.80%),
08/01/25
$
1,900
$
1,907,781
6.42%
(SOFR+1.06%),
08/07/26
1,125
1,137,846
6.44%
(SOFR+1.07%),
12/11/26
5,925
5,997,963
1,044,085,606
Total
Floating
Rate
Notes
(Cost:
$1,816,744,072)
1,823,547,698
Total
Investments:
98.7%
(Cost:
$1,816,744,072)
1,823,547,698
Other
assets
less
liabilities:
1.3%
23,177,023
NET
ASSETS:
100.0%
$
1,846,724,721
Definitions:
SOFR
Secured
Overnight
Financing
Rate
USD
United
States
Dollar
†
Security
fully
or
partially
on
loan.
Total
market
value
of
securities
on
loan
is
$6,671,304.
144A
Security
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended,
or
otherwise
restricted.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
unless
otherwise
noted.
These
securities
have
an
aggregate
value
of
$632,668,931,
or
34.3%
of
net
assets.