Oaktree Specialty Lending Corp

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AB Active ETFs, Inc.

AB Core Plus Bond ETF

Portfolio of Investments

February 28, 2026 (unaudited)


	Principal Amount (000)		U.S. $ Value

GOVERNMENTS - TREASURIES – 43.2%
United States – 43.2%
U.S. Treasury Bonds 1.125%, 08/15/2040	$	2,971	$	1,931,150
1.375%, 11/15/2040		1,467		985,182
2.375%, 11/15/2049		342		228,606
2.875%, 05/15/2049		1,175		875,191
3.00%, 02/15/2048		2,559		1,975,628
3.00%, 02/15/2049		51		38,991
3.125%, 05/15/2048		7,012		5,523,046
3.375%, 11/15/2048		2,141		1,755,285
4.125%, 08/15/2053		725		665,187
4.50%, 11/15/2054		64		62,530
4.625%, 02/15/2055		2,576		2,569,560
4.75%, 08/15/2055		1,925		1,960,492
U.S. Treasury Notes 1.25%, 04/30/2028		1,414		1,351,475
2.375%, 03/31/2029		2,049		1,987,850
2.75%, 08/15/2032		1,001		947,587
2.875%, 05/15/2032		2,443		2,336,691
3.125%, 08/31/2029		1,949		1,929,358
3.25%, 06/30/2029		6,084		6,052,154
3.50%, 01/31/2028		1,204		1,206,352
3.50%, 10/15/2028		353		353,965
3.50%, 04/30/2030		538		538,462
3.50%, 02/15/2033		357		352,091
3.75%, 06/30/2030		578		584,051
3.75%, 10/31/2032		759		761,253
3.875%, 09/30/2029		5,288		5,364,841
3.875%, 11/30/2029		4,396		4,460,910
3.875%, 12/31/2029		2,500		2,537,500
4.00%, 02/28/2030		11,207		11,429,389
4.00%, 07/31/2032		950		967,590
4.125%, 10/31/2026		171		171,528
4.125%, 01/31/2027		3,204		3,220,521
4.125%, 10/31/2029		971		993,682
4.125%, 11/30/2029		7,164		7,333,026
4.125%, 08/31/2030		1,113		1,141,521
4.25%, 12/31/2026		6,170		6,204,947
4.25%, 11/15/2034		6,952		7,143,180
4.25%, 05/15/2035		2,299		2,357,912
4.25%, 08/15/2035		187		191,646
4.375%, 05/15/2034		799		829,587
4.50%, 05/15/2027		1,385		1,401,230
4.625%, 02/15/2035		431		454,705


Total Governments - Treasuries (cost $91,771,880)				93,175,852


CORPORATES - INVESTMENT GRADE – 36.4%
Industrial – 18.1%
Basic – 0.4%
Glencore Funding LLC 4.907%, 04/01/2028^(a)		63		64,144
5.186%, 04/01/2030^(a)		29		29,992
5.338%, 04/04/2027^(a)		293		297,181
LYB International Finance III LLC 5.125%, 01/15/2031		78		79,296


	Principal Amount (000)		U.S. $ Value

Rio Tinto Finance USA PLC 4.875%, 03/14/2030	$	65	$	67,127
5.00%, 03/14/2032		65		67,558
5.25%, 03/14/2035		65		67,928
Steel Dynamics, Inc. 4.00%, 12/15/2028		78		78,050

				751,276


Capital Goods – 1.4%
ABB Finance USA, Inc. 4.375%, 05/08/2042		466		423,916
Caterpillar Financial Services Corp. 3.95%, 11/14/2028		78		78,399
4.80%, 01/08/2030		25		25,957
Series K 4.10%, 08/15/2028		69		69,607
CNH Industrial Capital LLC 4.375%, 03/07/2031		72		71,911
4.75%, 03/21/2028		46		46,617
CRH America Finance, Inc. 4.40%, 02/09/2031		75		75,532
5.00%, 02/09/2036		75		75,903
General Electric Co. 4.30%, 07/29/2030		59		59,961
Howmet Aerospace, Inc. 3.75%, 03/03/2028		81		80,910
3.90%, 04/15/2029		81		81,087
4.75%, 04/15/2036		81		81,239
John Deere Capital Corp. 4.375%, 10/15/2030		59		60,020
4.65%, 01/07/2028		25		25,460
Johnson Controls International PLC/Tyco Fire & Security Finance SCA 2.00%, 09/16/2031		409		364,534
Lockheed Martin Corp. 4.15%, 08/15/2028		60		60,586
4.40%, 08/15/2030		60		61,088
5.20%, 02/15/2064		529		498,244
Parker-Hannifin Corp. 4.10%, 03/01/2047		496		419,745
Republic Services, Inc. 4.75%, 07/15/2030		65		66,797
RTX Corp. 3.125%, 05/04/2027		131		129,982
Textron, Inc. 4.95%, 03/15/2036		78		78,436
Westinghouse Air Brake Technologies Corp. 4.90%, 05/29/2030		60		61,772

				2,997,703


Communications - Media – 1.0%
Meta Platforms, Inc. 4.20%, 11/15/2030		70		70,652
4.60%, 11/15/2032		70		71,169
4.65%, 08/15/2062		521		422,646
5.55%, 08/15/2064		416		391,722
5.625%, 11/15/2055		70		68,518


	Principal Amount (000)		U.S. $ Value

5.75%, 05/15/2063	$	408	$	396,564
5.75%, 11/15/2065		66		64,250
Omnicom Group, Inc. 4.20%, 03/02/2029		85		85,147
5.00%, 06/02/2033		85		84,729
5.30%, 06/02/2036		85		84,265
Paramount Global 4.85%, 07/01/2042		448		303,874
4.90%, 08/15/2044		48		30,834
4.95%, 05/19/2050		154		97,276

				2,171,646


Communications - Telecommunications – 0.2%
AT&T, Inc. 2.30%, 06/01/2027		135		132,420
4.75%, 04/30/2033		80		81,108
5.125%, 04/30/2036		80		81,122
5.85%, 04/30/2046		80		80,702
T-Mobile USA, Inc. 2.625%, 02/15/2029		10		9,622
Verizon Communications, Inc. 4.75%, 01/15/2033		78		79,101

				464,075


Consumer Cyclical - Automotive – 2.0%
American Honda Finance Corp. 4.15%, 01/08/2029		72		72,372
4.25%, 09/01/2028		69		69,522
4.45%, 01/08/2031		72		72,706
4.55%, 07/09/2027		60		60,571
5.10%, 01/08/2036		72		72,613
Series G 4.50%, 09/04/2030		69		69,810
BMW US Capital LLC 4.15%, 08/11/2027^(a)		70		70,313
4.50%, 08/11/2030^(a)		70		70,934
4.75%, 03/21/2028^(a)		65		66,078
5.05%, 03/21/2030^(a)		61		63,031
Daimler Truck Finance North America LLC 4.15%, 01/12/2029^(a)		150		150,429
4.50%, 04/12/2031^(a)		150		150,871
Ford Motor Co. 3.25%, 02/12/2032		410		368,709
4.75%, 01/15/2043		586		471,314
5.291%, 12/08/2046		492		419,799
General Motors Co. 5.40%, 04/01/2048		638		587,923
5.95%, 04/01/2049		115		113,252
6.25%, 10/02/2043		485		497,561
Honda Motor Co., Ltd. 4.436%, 07/08/2028		60		60,679
Hyundai Capital America 4.25%, 09/18/2028^(a)		71		71,309
4.30%, 09/24/2027^(a)		25		25,110
4.50%, 09/18/2030^(a)		71		71,569


	Principal Amount (000)		U.S. $ Value

4.55%, 09/26/2029^(a)	$	17	$	17,237
5.10%, 06/24/2030^(a)		54		55,707
5.15%, 03/27/2030^(a)		63		65,122
5.30%, 06/24/2029^(a)		25		25,887
5.35%, 03/19/2029^(a)		9		9,307
6.10%, 09/21/2028^(a)		179		187,298
PACCAR Financial Corp. 4.00%, 08/08/2028		70		70,599
Series R 4.00%, 11/07/2028		79		79,559
Toyota Motor Credit Corp. 4.05%, 09/05/2028		69		69,556
Series B 3.75%, 01/12/2028		72		72,122
4.20%, 01/10/2031		72		72,518

				4,401,387


Consumer Cyclical - Other – 0.4%
Las Vegas Sands Corp. 5.625%, 06/15/2028		44		45,066
Marriott International, Inc./MD 4.20%, 07/15/2027		71		71,316
4.50%, 05/01/2033		82		81,773
4.90%, 04/15/2029		293		300,164
5.10%, 05/01/2038		63		62,427
Voyager Parent LLC 9.25%, 07/01/2032^(a)		334		356,578

				917,324


Consumer Cyclical - Restaurants – 0.1%
McDonald’s Corp. 4.40%, 02/12/2031		51		51,823
4.60%, 05/15/2030		65		66,574
Starbucks Corp. 4.50%, 05/15/2028		59		59,680

				178,077


Consumer Cyclical - Retailers – 0.2%
7-Eleven, Inc. 1.30%, 02/10/2028^(a)		144		136,835
Home Depot, Inc. (The) 3.75%, 09/15/2028		72		72,360
3.95%, 09/15/2030		72		72,269
Lowe’s Cos., Inc. 3.95%, 10/15/2027		55		55,174
4.00%, 10/15/2028		64		64,169
Walmart, Inc. 4.10%, 04/28/2027		62		62,387
4.35%, 04/28/2030		62		63,303

				526,497


Consumer Non-Cyclical – 5.4%
Abbott Laboratories 4.65%, 03/15/2036		83		82,954
4.75%, 03/15/2038		83		82,710


	Principal Amount (000)		U.S. $ Value

AbbVie, Inc. 3.775%, 03/03/2028	$	85	$	85,117
4.125%, 03/15/2031		85		85,262
4.40%, 03/15/2033		85		85,369
4.75%, 03/15/2036		85		85,468
5.55%, 03/15/2056		85		85,496
5.65%, 03/15/2066		85		85,302
Altria Group, Inc. 4.45%, 05/06/2050		490		397,174
4.50%, 08/06/2030		70		71,132
5.95%, 02/14/2049		419		424,053
Amgen, Inc. 4.20%, 02/19/2031		81		81,237
4.85%, 02/19/2036		81		81,437
5.50%, 02/19/2046		81		80,546
5.65%, 02/19/2056		81		80,844
5.75%, 03/02/2063		397		392,887
Astrazeneca Finance LLC 4.00%, 03/02/2031		85		85,132
4.30%, 03/02/2033		85		85,220
4.60%, 03/02/2036		85		84,986
BAT Capital Corp. 2.259%, 03/25/2028		55		53,201
4.625%, 03/22/2033		19		19,070
5.282%, 04/02/2050		335		307,285
5.65%, 03/16/2052		288		275,973
Baxter International, Inc. 4.90%, 12/15/2030		78		78,452
Bunge Ltd. Finance Corp. 4.55%, 08/04/2030		69		70,101
Campbell’s Co. (The) 4.55%, 03/21/2031		80		80,028
Cardinal Health, Inc. 4.50%, 09/15/2030		66		66,917
Cargill, Inc. 4.125%, 10/23/2030^(a)		77		77,229
4.625%, 02/11/2028^(a)		20		20,331
Cencora, Inc. 3.95%, 02/13/2029		85		85,044
4.25%, 11/15/2030		85		85,320
4.60%, 02/13/2033		85		85,604
4.90%, 02/13/2036		85		85,582
Constellation Brands, Inc. 4.80%, 05/01/2030		62		63,556
DENTSPLY SIRONA, Inc. 3.25%, 06/01/2030		329		308,628
Eli Lilly & Co. 4.15%, 03/15/2059		487		391,850
4.90%, 10/15/2035		71		72,713
4.95%, 02/27/2063		182		165,311
5.10%, 02/09/2064		37		34,359
5.20%, 08/14/2064		590		555,992
5.55%, 10/15/2055		71		72,129
5.65%, 10/15/2065		92		93,086
Estee Lauder Cos., Inc. (The) 5.15%, 05/15/2053		444		415,282
GE HealthCare Technologies, Inc. 4.15%, 12/15/2028		79		79,344


	Principal Amount (000)		U.S. $ Value

HCA, Inc. 4.30%, 11/15/2030	$	31	$	31,047
4.60%, 11/15/2032		77		77,052
5.00%, 03/01/2028		59		60,199
Japan Tobacco, Inc. 4.85%, 05/15/2028^(a)		150		152,904
5.25%, 06/15/2030^(a)		150		156,471
Johnson & Johnson 4.85%, 03/01/2032		59		61,870
5.00%, 03/01/2035		59		62,061
Keurig Dr. Pepper, Inc. 4.60%, 05/15/2030		62		62,606
Mars, Inc. 4.60%, 03/01/2028^(a)		39		39,588
4.80%, 03/01/2030^(a)		67		68,853
5.00%, 03/01/2032^(a)		67		69,322
McCormick & Co., Inc./MD 4.15%, 02/15/2029		80		80,550
McKesson Corp. 4.65%, 05/30/2030		60		61,401
4.95%, 05/30/2032		60		62,375
Merck & Co., Inc. 2.90%, 12/10/2061		161		95,355
4.45%, 12/04/2032		79		80,042
4.75%, 12/04/2035		79		79,766
4.95%, 09/15/2035		69		70,740
5.00%, 05/17/2053		96		89,241
5.15%, 05/17/2063		453		420,932
5.50%, 03/15/2046		79		79,942
5.55%, 12/04/2055		79		79,153
5.70%, 12/04/2065		419		420,751
Novartis Capital Corp. 3.90%, 11/05/2028		76		76,334
4.10%, 11/05/2030		76		76,468
4.30%, 11/05/2032		76		76,596
5.20%, 11/05/2045		76		75,232
5.30%, 11/05/2055		76		75,230
PepsiCo, Inc. 4.30%, 07/23/2030		59		60,178
4.45%, 02/07/2028		20		20,303
4.60%, 02/07/2030		20		20,553
Philip Morris International, Inc. 2.10%, 05/01/2030		144		133,233
4.00%, 10/29/2030		77		76,808
4.125%, 04/28/2028		62		62,413
4.25%, 10/29/2032		77		76,781
4.375%, 04/30/2030		62		62,768
4.625%, 10/29/2035		77		76,185
5.25%, 02/13/2034		196		205,239
5.375%, 02/15/2033		286		301,696
Stryker Corp. 4.70%, 02/10/2028		20		20,295
Sysco Corp. 4.40%, 07/25/2031		41		41,148
5.10%, 09/23/2030		56		58,123
Thermo Fisher Scientific, Inc. 4.20%, 03/01/2031		74		74,545


	Principal Amount (000)		U.S. $ Value

4.55%, 06/15/2033	$	84	$	84,979
4.902%, 02/12/2036		84		85,404
5.546%, 02/12/2046		84		85,630
Tyson Foods, Inc. 3.55%, 06/02/2027		132		131,384
Utah Acquisition Sub, Inc. 5.25%, 06/15/2046		91		76,697
Viatris, Inc. 3.85%, 06/22/2040		506		398,495
4.00%, 06/22/2050		577		394,858

				11,574,509


Energy – 1.4%
Canadian Natural Resources Ltd. 6.25%, 03/15/2038		363		391,957
Chevron USA, Inc. 3.95%, 08/13/2027		69		69,363
4.05%, 08/13/2028		69		69,694
4.30%, 10/15/2030		69		70,264
4.405%, 02/26/2027		37		37,272
4.475%, 02/26/2028		60		60,962
4.687%, 04/15/2030		60		61,842
ConocoPhillips Co. 5.65%, 01/15/2065		140		137,326
Enbridge, Inc. 4.20%, 11/20/2028		78		78,441
4.50%, 02/15/2031		78		78,761
4.60%, 06/20/2028		59		59,813
4.90%, 06/20/2030		17		17,493
Energy Transfer LP 4.55%, 01/15/2031		79		79,781
5.35%, 01/15/2036		79		80,262
5.95%, 05/15/2054		402		387,846
6.30%, 01/15/2056		79		79,871
Enterprise Products Operating LLC Series E 5.25%, 08/16/2077		129		129,324
MPLX LP 4.80%, 02/15/2031		67		68,399
Plains All American Pipeline LP/PAA Finance Corp. 4.70%, 01/15/2031		65		66,002
Shell Finance US, Inc. 5.125%, 10/15/2041^(a)		370		367,399
Suncor Energy, Inc. 6.85%, 06/01/2039		495		556,934
Targa Resources Corp. 4.35%, 04/15/2031		26		25,998
Woodside Finance Ltd. 4.90%, 05/19/2028		60		61,027

				3,036,031


Other Industrial – 0.5%
Ferguson Finance PLC 3.25%, 06/02/2030^(a)		238		228,692
President & Fellows of Harvard College 6.50%, 01/15/2039^(a)		165		191,506


	Principal Amount (000)		U.S. $ Value

University of Southern California 4.976%, 10/01/2053	$	324	$	311,195
Washington University (The) 4.349%, 04/15/2122		440		346,012

				1,077,405


Services – 1.0%
Amazon.com, Inc. 2.70%, 06/03/2060		140		79,110
3.25%, 05/12/2061		587		377,547
4.10%, 11/20/2030		78		78,568
4.10%, 04/13/2062		500		384,745
4.25%, 08/22/2057		474		382,200
4.35%, 03/20/2033		78		78,612
4.65%, 11/20/2035		78		78,365
5.45%, 11/20/2055		78		76,733
5.55%, 11/20/2065		154		150,626
Cintas Corp. No. 2 4.20%, 05/01/2028		62		62,542
eBay, Inc. 4.25%, 03/06/2029		76		76,528
Mastercard, Inc. 4.55%, 03/15/2028		59		59,981
4.95%, 03/15/2032		59		61,617
Quanta Services, Inc. 4.30%, 08/09/2028		70		70,554
RELX Capital, Inc. 4.75%, 03/27/2030		63		64,280
Verisk Analytics, Inc. 4.45%, 03/15/2031		83		83,315

				2,165,323


Technology – 3.5%
Alphabet, Inc. 3.70%, 02/15/2029		84		84,066
4.10%, 11/15/2030		76		76,670
4.10%, 02/15/2031		84		84,577
4.375%, 11/15/2032		76		77,023
4.40%, 02/15/2033		84		84,722
4.70%, 11/15/2035		43		43,529
4.80%, 02/15/2036		84		85,367
5.25%, 05/15/2055		71		68,858
5.30%, 05/15/2065		445		421,566
5.35%, 11/15/2045		76		76,296
5.45%, 11/15/2055		29		28,812
5.50%, 02/15/2046		84		85,632
5.65%, 02/15/2056		84		85,901
5.70%, 11/15/2075		421		420,739
Amphenol Corp. 3.80%, 11/15/2027		77		77,073
3.90%, 11/15/2028		77		77,189
4.125%, 11/15/2030		77		77,358
4.375%, 06/12/2028		60		60,762
4.40%, 02/15/2033		77		77,176
4.625%, 02/15/2036		77		76,491
5.00%, 01/15/2035		251		257,418
5.30%, 11/15/2055		77		74,514
5.375%, 11/15/2054		281		276,729


	Principal Amount (000)		U.S. $ Value

Analog Devices, Inc. 4.50%, 06/15/2030	$	60	$	61,327
Apple, Inc. 2.55%, 08/20/2060		742		417,227
2.80%, 02/08/2061		451		268,480
2.85%, 08/05/2061		648		389,597
4.10%, 08/08/2062		488		388,624
Applied Materials, Inc. 4.00%, 01/15/2031		71		71,015
4.60%, 01/15/2036		71		70,617
Broadcom, Inc. 4.20%, 10/15/2030		54		54,262
4.30%, 01/15/2031		72		72,629
4.60%, 07/15/2030		60		61,300
4.60%, 01/15/2033		72		72,765
4.80%, 04/15/2028		25		25,504
4.90%, 07/15/2032		27		27,800
5.05%, 07/12/2027		114		115,898
5.05%, 04/15/2030		25		25,913
Cisco Systems, Inc. 4.55%, 02/24/2028		59		59,978
5.30%, 02/26/2054		400		389,236
5.35%, 02/26/2064		407		389,369
Dell International LLC/EMC Corp. 4.15%, 02/15/2029		73		73,229
4.50%, 02/15/2031		73		73,337
4.75%, 04/01/2028		55		55,861
5.00%, 04/01/2030		55		56,553
5.30%, 04/01/2032		55		57,100
Hewlett Packard Enterprise Co. 4.05%, 09/15/2027		72		72,120
4.15%, 09/15/2028		72		72,161
4.40%, 10/15/2030		72		72,094
Intel Corp. 3.75%, 03/25/2027		128		127,752
International Business Machines Corp. 4.65%, 02/10/2028		100		101,494
4.90%, 07/27/2052		261		230,293
NXP BV/NXP Funding LLC/NXP USA, Inc. 4.30%, 08/19/2028		67		67,419
Oracle Corp. 4.45%, 09/26/2030		71		69,591
4.80%, 08/03/2028		20		20,219
4.95%, 02/04/2031		81		80,830
5.25%, 02/03/2032		9		9,033
5.35%, 05/04/2033		81		81,322
5.70%, 02/04/2036		67		67,022
6.10%, 09/26/2065		71		61,490
6.70%, 02/04/2056		81		78,500
6.85%, 02/04/2066		14		13,426
Roper Technologies, Inc. 4.25%, 09/15/2028		67		67,262
Salesforce, Inc. 1.50%, 07/15/2028		141		133,552
Texas Instruments, Inc. 4.50%, 05/23/2030		60		61,250


	Principal Amount (000)		U.S. $ Value

Tyco Electronics Group SA 4.50%, 02/09/2031	$	62	$	63,093

				7,606,012


Transportation - Airlines – 0.3%
Delta Air Lines, Inc./SkyMiles IP Ltd. 4.75%, 10/20/2028^(a)		272		274,597
Southwest Airlines Co. 4.375%, 11/15/2028		23		23,169
United Airlines 2024-1 Class AA Pass Through Trust Series AA 5.45%, 08/15/2038		275		286,315

				584,081


Transportation - Railroads – 0.0%
Burlington Northern Santa Fe LLC 5.55%, 03/15/2056		79		79,297


Transportation - Services – 0.3%
Element Fleet Management Corp. 4.641%, 11/24/2030^(a)		78		78,792
5.037%, 03/25/2030^(a)		63		64,639
Fedex Freight Holding Co., Inc. 4.30%, 03/15/2029^(a)		80		80,183
4.65%, 03/15/2031^(a)		80		80,433
Penske Truck Leasing Co. LP/PTL Finance Corp. 4.55%, 01/15/2031^(a)		72		72,463
5.25%, 07/01/2029^(a)		9		9,291
5.25%, 02/01/2030^(a)		24		24,828
5.35%, 03/30/2029^(a)		57		58,926
Ryder System, Inc. 4.30%, 12/01/2030		77		77,302

				546,857

				39,077,500


Financial Institutions – 16.4%
Banking – 10.8%
American Express Co. 4.351%, 07/20/2029		59		59,526
4.731%, 04/25/2029		62		63,007
4.804%, 10/24/2036		77		76,274
4.918%, 07/20/2033		59		60,334
5.016%, 04/25/2031		62		63,962
5.098%, 02/16/2028		292		295,025
5.412%, 02/08/2041		80		81,666
5.667%, 04/25/2036		62		65,620
Banco Santander SA 2.749%, 12/03/2030		400		367,900
6.35%, 03/14/2034		400		431,812
6.921%, 08/08/2033		400		444,256
Bank of America Corp. 2.496%, 02/13/2031		166		155,841
2.687%, 04/22/2032		315		291,762


	Principal Amount (000)		U.S. $ Value

2.972%, 02/04/2033	$	332	$	306,718
3.419%, 12/20/2028		55		54,439
3.705%, 04/24/2028		129		128,574
4.623%, 05/09/2029		59		59,814
5.425%, 08/15/2035		416		425,905
5.511%, 01/24/2036		26		27,254
5.518%, 10/25/2035		296		303,951
5.744%, 02/12/2036		20		20,899
Bank of Montreal 4.062%, 09/22/2028		71		71,165
4.35%, 09/22/2031		71		71,453
5.203%, 02/01/2028		61		62,532
Series J 4.439%, 01/14/2032		72		72,402
Bank of New York Mellon Corp. (The) Series J 4.967%, 04/26/2034		297		304,642
Bank of Nova Scotia (The) 4.043%, 09/15/2028		72		72,078
4.338%, 09/15/2031		72		72,204
4.932%, 02/14/2029		20		20,359
Banque Federative du Credit Mutuel SA 4.541%, 01/15/2031^(a)		200		201,076
BNP Paribas SA 4.916%, 01/15/2034^(a)		200		200,962
5.906%, 11/19/2035^(a)		428		445,702
Canadian Imperial Bank of Commerce 4.243%, 09/08/2028		69		69,328
4.58%, 09/08/2031		69		70,011
4.857%, 03/30/2029		63		64,102
5.245%, 01/13/2031		25		25,942
Capital One Financial Corp. 4.493%, 09/11/2031		72		72,030
4.722%, 01/30/2032		46		46,356
5.197%, 09/11/2036		72		71,826
5.399%, 01/30/2037		80		80,704
5.468%, 02/01/2029		250		256,310
6.183%, 01/30/2036		127		132,084
6.377%, 06/08/2034		282		305,790
7.964%, 11/02/2034		291		342,458
Citigroup, Inc. 2.976%, 11/05/2030		376		360,317
3.52%, 10/27/2028		118		117,087
4.503%, 09/11/2031		71		71,564
4.542%, 09/19/2030		298		301,454
4.658%, 05/24/2028		52		52,374
4.786%, 03/04/2029		60		60,875
5.174%, 09/11/2036		71		72,196
5.333%, 03/27/2036		31		31,938
5.827%, 02/13/2035		288		299,894
6.174%, 05/25/2034		286		305,319
6.27%, 11/17/2033		29		31,812
Series VAR 3.07%, 02/24/2028		30		29,711
Citizens Financial Group, Inc. 5.253%, 03/05/2031		36		37,126
5.841%, 01/23/2030		118		123,351


	Principal Amount (000)		U.S. $ Value

Deutsche Bank AG/New York NY 4.469%, 12/10/2031	$	150	$	150,871
4.725%, 02/06/2032		150		151,246
Fifth Third Financial Corp. 5.982%, 01/30/2030		232		243,171
First Citizens BancShares, Inc./NC 4.869%, 03/03/2032		85		84,716
Goldman Sachs Group, Inc. (The) 2.383%, 07/21/2032		403		363,397
2.615%, 04/22/2032		336		308,515
2.65%, 10/21/2032		257		233,880
3.615%, 03/15/2028		129		128,378
4.153%, 10/21/2029		75		75,034
4.369%, 10/21/2031		75		75,001
4.937%, 04/23/2028		33		33,316
4.939%, 10/21/2036		75		74,668
5.049%, 07/23/2030		24		24,614
5.065%, 01/21/2037		78		78,526
5.207%, 01/28/2031		95		98,377
5.218%, 04/23/2031		62		64,194
5.541%, 01/21/2047		78		77,594
HSBC Holdings PLC 2.357%, 08/18/2031		374		344,245
5.874%, 11/18/2035		320		335,840
7.399%, 11/13/2034		313		358,038
JPMorgan Chase & Co. 2.963%, 01/25/2033		331		306,731
3.882%, 07/24/2038		411		372,300
4.323%, 04/26/2028		53		53,184
5.103%, 04/22/2031		61		63,250
5.14%, 01/24/2031		26		26,977
5.193%, 02/05/2037		80		80,842
5.502%, 01/24/2036		26		27,332
5.571%, 04/22/2028		22		22,379
5.576%, 07/23/2036		60		62,360
5.581%, 04/22/2030		68		71,021
5.717%, 09/14/2033		284		301,066
5.766%, 04/22/2035		20		21,391
M&T Bank Corp. 5.179%, 07/08/2031		60		61,957
Macquarie Bank Ltd. 3.915%, 02/03/2028^(a)		80		80,310
Mitsubishi HC Finance America LLC 4.558%, 01/14/2031^(a)		200		202,310
Morgan Stanley 3.622%, 04/01/2031		88		86,024
4.994%, 04/12/2029		61		62,103
5.042%, 07/19/2030		25		25,696
5.073%, 01/30/2037		80		80,675
5.192%, 04/17/2031		61		63,165
5.23%, 01/15/2031		26		26,918
5.25%, 04/21/2034		185		191,469
5.297%, 04/20/2037		410		420,045
5.32%, 07/19/2035		161		166,583
5.449%, 07/20/2029		84		86,617
5.587%, 01/18/2036		26		27,325
5.652%, 04/13/2028		76		77,356
5.656%, 04/18/2030		14		14,622
5.664%, 04/17/2036		61		64,462
5.831%, 04/19/2035		24		25,627


	Principal Amount (000)		U.S. $ Value

Series G 2.239%, 07/21/2032	$	344	$	308,458
Series I 4.133%, 10/18/2029		43		43,061
4.356%, 10/22/2031		75		75,093
4.892%, 10/22/2036		75		74,608
National Australia Bank Ltd. 2.332%, 08/21/2030^(a)		397		364,414
2.99%, 05/21/2031^(a)		394		366,534
Northern Trust Corp. 4.15%, 11/19/2030		78		78,598
PNC Financial Services Group, Inc. (The) 4.075%, 01/26/2029		78		78,223
4.626%, 06/06/2033		309		308,317
4.899%, 05/13/2031		59		60,575
5.222%, 01/29/2031		24		24,916
Regions Banks 6.45%, 06/26/2037		361		395,364
Royal Bank of Canada 3.995%, 11/03/2028		78		78,090
Series G 4.715%, 03/27/2028		63		63,561
4.965%, 01/24/2029		26		26,519
4.97%, 05/02/2031		63		65,002
5.153%, 02/04/2031		26		26,954
Santander Holdings USA, Inc. 5.473%, 03/20/2029		68		69,499
5.741%, 03/20/2031		31		32,238
6.174%, 01/09/2030		260		271,354
6.499%, 03/09/2029		18		18,746
Societe Generale SA 7.367%, 01/10/2053^(a)		273		299,063
Standard Chartered PLC 4.529%, 06/05/2032^(a)		200		200,342
State Street Corp. 4.536%, 02/28/2028		60		60,950
4.729%, 02/28/2030		60		61,660
4.784%, 10/23/2036		77		76,871
4.821%, 01/26/2034		296		301,772
4.834%, 04/24/2030		62		63,884
Synchrony Financial 5.935%, 08/02/2030		10		10,378
6.00%, 07/29/2036		400		407,564
7.25%, 02/02/2033		382		403,018
Toronto-Dominion Bank (The) 3.913%, 01/13/2028		72		72,064
4.109%, 10/13/2028		75		75,337
4.411%, 01/13/2031		72		72,852
4.574%, 06/02/2028		59		59,816
4.808%, 06/03/2030		59		60,640
Truist Financial Corp. 5.071%, 05/20/2031		59		60,844
UBS Group AG 4.151%, 12/23/2029^(a)		200		200,222
4.398%, 09/23/2031^(a)		200		200,568


	Principal Amount (000)		U.S. $ Value

US Bancorp 4.839%, 02/01/2034	$	299	$	303,315
4.967%, 07/22/2033		298		303,263
5.046%, 02/12/2031		20		20,649
5.083%, 05/15/2031		60		62,035
5.10%, 07/23/2030		25		25,844
Wells Fargo & Co. 3.35%, 03/02/2033		326		306,134
3.584%, 05/22/2028		5		4,974
4.078%, 09/15/2029		72		72,019
4.808%, 07/25/2028		51		51,540
4.96%, 01/23/2037		78		78,269
4.97%, 04/23/2029		62		63,202
5.15%, 04/23/2031		62		64,172
5.244%, 01/24/2031		118		122,472
5.433%, 01/23/2047		78		77,275
5.574%, 07/25/2029		284		293,900
5.605%, 04/23/2036		21		22,098
5.707%, 04/22/2028		76		77,395
Zions Bancorp NA 6.816%, 11/19/2035		391		415,688

				23,169,004


Brokerage – 0.5%
Affiliated Managers Group, Inc. 5.50%, 02/15/2036		80		80,730
Apollo Global Management, Inc. 4.60%, 01/15/2031		79		79,518
BGC Group, Inc. 6.15%, 04/02/2030		55		57,233
Blackstone Holdings Finance Co. LLC 2.50%, 01/10/2030^(a)		384		361,632
Blue Owl Finance LLC 6.25%, 04/18/2034		336		335,812
Charles Schwab Corp. (The) 4.343%, 11/14/2031		78		78,403
LPL Holdings, Inc. 5.20%, 03/15/2030		60		61,364

				1,054,692


Finance – 1.0%
Apollo Debt Solutions BDC 5.20%, 12/08/2028^(a)		80		79,686
Ares Capital Corp. 5.10%, 01/15/2031		69		67,334
5.50%, 09/01/2030		59		58,372
Ares Strategic Income Fund 4.85%, 01/15/2029^(a)		72		70,798
5.15%, 01/15/2031^(a)		72		69,789
Barings BDC, Inc. 5.20%, 09/15/2028		72		71,235
Blackstone Reg Finance Co. LLC 4.30%, 11/03/2030		78		77,837
4.95%, 02/15/2036		78		77,215
Blackstone Secured Lending Fund 5.125%, 01/31/2031		75		72,708
5.25%, 09/04/2029		83		82,405


	Principal Amount (000)		U.S. $ Value

Blue Owl Credit Income Corp. 5.80%, 03/15/2030	$	25	$	24,514
Blue Owl Technology Finance Corp. 6.125%, 01/23/2031		78		74,656
Brookfield Finance, Inc. 5.33%, 01/15/2036		66		65,832
Carlyle Secured Lending, Inc. 5.75%, 02/15/2031		34		32,863
Franklin BSP Capital Corp. 6.00%, 10/02/2030^(a)		71		69,020
FS KKR Capital Corp. 6.875%, 08/15/2029		24		23,691
Goldman Sachs BDC, Inc. 5.10%, 01/28/2029		78		76,896
Goldman Sachs Private Credit Corp. 5.05%, 02/23/2028^(a)		82		81,462
5.875%, 01/31/2031^(a)		78		76,663
Golub Capital Private Credit Fund 5.45%, 08/15/2028^(a)		60		60,019
HA Sustainable Infrastructure Capital, Inc. 6.75%, 07/15/2035		60		63,014
HPS Corporate Lending Fund 4.90%, 09/11/2028^(a)		71		70,131
5.15%, 04/02/2029^(a)		72		71,435
5.30%, 06/05/2027^(a)		55		55,213
5.45%, 11/15/2030^(a)		71		69,905
5.65%, 04/02/2031^(a)		72		71,327
Main Street Capital Corp. 5.40%, 08/15/2028		66		66,303
North Haven Private Income Fund LLC 5.125%, 09/25/2028^(a)		70		69,259
Oaktree Specialty Lending Corp. 6.34%, 02/27/2030		59		58,102
Sixth Street Specialty Lending, Inc. 5.625%, 08/15/2030		59		58,634
USAA Capital Corp. 4.375%, 06/01/2028^(a)		150		151,900

				2,118,218


Financial Services – 0.1%
Intercontinental Exchange, Inc. 3.95%, 12/01/2028		79		79,180
4.20%, 03/15/2031		79		79,518
Lincoln Financial Global Funding 4.625%, 08/18/2030^(a)		69		69,404
Sammons Financial Group Global Funding 4.95%, 06/12/2030^(a)		60		61,170
5.05%, 01/10/2028^(a)		25		25,420

				314,692


Insurance – 3.5%
American National Global Funding 5.25%, 06/03/2030^(a)		59		60,149


	Principal Amount (000)		U.S. $ Value

Athene Global Funding 5.583%, 01/09/2029^(a)	$	211	$	215,990
Athene Holding Ltd. 3.45%, 05/15/2052		1,382		845,286
3.95%, 05/25/2051		403		276,664
Brighthouse Financial, Inc. 4.70%, 06/22/2047		631		439,277
Brown & Brown, Inc. 4.70%, 06/23/2028		60		60,643
CNO Global Funding 4.70%, 12/11/2030^(a)		80		80,254
Corebridge Global Funding 4.45%, 10/02/2030^(a)		71		71,196
4.55%, 01/09/2031^(a)		72		72,257
4.85%, 06/06/2030^(a)		59		60,142
4.90%, 01/07/2028^(a)		25		25,395
Elevance Health, Inc. 4.00%, 09/15/2028		72		72,126
F&G Annuities & Life, Inc. 6.25%, 10/04/2034		383		365,700
F&G Global Funding 4.50%, 01/09/2029^(a)		72		71,473
4.65%, 09/08/2028^(a)		69		68,794
GA Global Funding Trust 4.50%, 09/18/2030^(a)		150		148,109
5.50%, 04/01/2032^(a)		150		152,110
Guardian Life Global Funding 4.066%, 09/05/2028^(a)		69		69,137
4.327%, 10/06/2030^(a)		74		74,498
4.402%, 12/11/2030^(a)		80		80,758
4.673%, 09/05/2032^(a)		69		69,661
4.798%, 04/28/2030^(a)		62		63,580
Health Care Service Corp. A Mutual Legal Reserve Co. 5.875%, 06/15/2054^(a)		363		352,364
Jackson National Life Global Funding 4.70%, 06/05/2028^(a)		150		151,620
Lincoln National Corp. 5.35%, 11/15/2035		76		74,190
Massachusetts Mutual Life Insurance Co. 3.729%, 10/15/2070^(a)		588		384,099
Met Tower Global Funding 4.00%, 01/14/2029^(a)		150		150,197
Mutual of Omaha Cos. Global Funding 4.546%, 01/13/2031^(a)		72		72,445
New York Life Global Funding 4.15%, 07/25/2028^(a)		59		59,364
4.40%, 04/25/2028^(a)		62		62,663
4.60%, 06/03/2030^(a)		59		60,347
Northwestern Mutual Global Funding 4.125%, 08/25/2028^(a)		71		71,395
4.30%, 01/13/2031^(a)		72		72,490
4.60%, 06/03/2030^(a)		59		60,125


	Principal Amount (000)		U.S. $ Value

Pacific Life Global Funding II 4.375%, 02/03/2031^(a)	$	80	$	80,974
4.45%, 05/01/2028^(a)		62		62,664
Pricoa Global Funding I 4.35%, 11/25/2030^(a)		150		151,516
4.70%, 05/28/2030^(a)		150		152,800
4.75%, 08/26/2032^(a)		150		151,528
Principal Life Global Funding II 4.25%, 08/18/2028^(a)		69		69,243
4.45%, 01/13/2031^(a)		72		72,582
4.80%, 01/09/2028^(a)		130		131,954
Protective Life Global Funding 4.161%, 01/15/2029^(a)		150		150,147
4.803%, 06/05/2030^(a)		150		153,124
Prudential Financial, Inc. 4.50%, 09/15/2047		301		296,921
5.70%, 09/15/2048		292		294,958
RGA Global Funding 4.35%, 08/25/2028^(a)		71		71,419
4.60%, 11/25/2030^(a)		78		78,558
5.00%, 08/25/2032^(a)		71		72,056
5.25%, 01/09/2030^(a)		25		25,905
5.448%, 05/24/2029^(a)		24		24,923
Trustage Financial Group, Inc. 4.625%, 04/15/2032^(a)		370		363,296
Western-Southern Global Funding 4.50%, 07/16/2028^(a)		60		60,580

				7,479,646


REITs – 0.5%
American Homes 4 Rent LP 4.95%, 06/15/2030		59		60,152
CBRE Services, Inc. 4.80%, 06/15/2030		62		63,200
4.90%, 01/15/2033		79		79,928
5.95%, 08/15/2034		245		261,903
EPR Properties 4.75%, 11/15/2030		76		76,163
Essex Portfolio LP 4.875%, 02/15/2036		80		79,102
GLP Capital LP/GLP Financing II, Inc. 5.625%, 03/01/2036		85		85,003
Omega Healthcare Investors, Inc. 5.20%, 07/01/2030		11		11,275
Phillips Edison Grocery Center Operating Partnership I LP 4.75%, 03/15/2033		85		85,108
Realty Income Corp. 3.95%, 02/01/2029		71		71,138
Regency Centers LP 4.50%, 03/15/2033		22		21,996
Simon Property Group LP 4.375%, 10/01/2030		67		67,821


	Principal Amount (000)		U.S. $ Value

Store Capital LLC 4.95%, 02/11/2031^(a)	$	81	$	81,740
VICI Properties LP 4.75%, 04/01/2028		55		55,549
WP Carey, Inc. 4.65%, 07/15/2030		39		39,547

				1,139,625

				35,275,877


Utility – 1.9%
Electric – 1.5%
AEP Transmission Co. LLC 5.15%, 04/01/2034		34		35,127
Black Hills Corp. 4.55%, 01/31/2031		71		71,697
CenterPoint Energy Houston Electric LLC Series AR 4.85%, 04/01/2036		51		51,183
Connecticut Light & Power Co. (The) 4.95%, 01/15/2030		25		25,828
Dominion Energy, Inc. 4.60%, 05/15/2028		59		59,832
Duke Energy Florida LLC 4.20%, 12/01/2030		79		79,509
Edison International 4.80%, 03/15/2031		83		82,957
Eversource Energy 4.45%, 12/15/2030		75		75,489
National Rural Utilities Cooperative Finance Corp. 3.95%, 12/10/2027		79		79,253
4.30%, 12/10/2030		79		79,661
Series D 4.05%, 02/09/2029		80		80,383
4.15%, 08/25/2028		71		71,490
NextEra Energy Capital Holdings, Inc. 4.40%, 03/01/2031		80		80,858
4.685%, 09/01/2027		35		35,399
4.85%, 02/04/2028		20		20,366
5.85%, 03/01/2056		80		80,442
Niagara Mohawk Power Corp. 4.647%, 10/03/2030 ^(a)		60		60,964
NRG Energy, Inc. 4.734%, 10/15/2030 ^(a)		14		14,143
NSTAR Electric Co. 4.85%, 03/01/2030		60		61,760
Oncor Electric Delivery Co. LLC 4.65%, 11/01/2029		25		25,567
5.35%, 04/01/2035^(a)		47		48,905
Pacific Gas & Electric Co. 5.05%, 10/15/2032		74		75,424
5.55%, 05/15/2029		294		305,701
PacifiCorp 3.30%, 03/15/2051		127		83,513
4.125%, 01/15/2049		55		42,268
4.15%, 02/15/2050		31		23,563
4.25%, 03/15/2029		81		81,581


	Principal Amount (000)		U.S. $ Value

5.35%, 12/01/2053	$	443	$	397,176
5.50%, 05/15/2054		431		394,205
5.80%, 01/15/2055		327		311,278
Pinnacle West Capital Corp. 4.90%, 05/15/2028		60		61,118
5.15%, 05/15/2030		60		62,144
Public Service Co. of New Hampshire 4.40%, 07/01/2028		59		59,743
San Diego Gas & Electric Co. 5.40%, 04/15/2035		63		65,678
Union Electric Co. 4.80%, 03/15/2036		83		83,231
Wisconsin Electric Power Co. 3.95%, 03/01/2029		34		34,077
Xcel Energy, Inc. 4.75%, 03/21/2028		63		63,968

				3,365,481


Natural Gas – 0.4%
Boston Gas Co. 4.487%, 02/15/2042^(a)		464		405,453
Brooklyn Union Gas Co. (The) 4.504%, 03/10/2046^(a)		455		385,881

				791,334

				4,156,815


Total Corporates - Investment Grade (cost $77,680,747)				78,510,192


CORPORATES - NON-INVESTMENT GRADE – 6.4%
Industrial – 6.0%
Basic – 0.3%
Celanese US Holdings LLC 7.00%, 02/15/2031		25		25,768
Cleveland-Cliffs, Inc. 6.75%, 04/15/2030^(a)		119		120,661
7.625%, 01/15/2034^(a)		393		403,359
Clydesdale Acquisition Holdings, Inc. 8.75%, 04/15/2030^(a)		124		123,849

				673,637


Capital Goods – 0.2%
MIWD Holdco II LLC/MIWD Finance Corp. 5.50%, 02/01/2030^(a)		394		368,855
Smyrna Ready Mix Concrete LLC 6.00%, 11/01/2028^(a)		129		128,993

				497,848


Communications - Media – 0.9%
DIRECTV Financing LLC 8.875%, 02/01/2030^(a)		357		357,271
DIRECTV Financing LLC/Directv Financing Co-Obligor, Inc. 10.00%, 02/15/2031^(a)		366		374,348


	Principal Amount (000)		U.S. $ Value

Discovery Global Holdings, Inc. 5.05%, 03/15/2042	$	547	$	384,328
VZ Secured Financing BV 5.00%, 01/15/2032^(a)		457		406,259
Ziggo Bond Co. BV 5.125%, 02/28/2030^(a)		468		406,154

				1,928,360


Consumer Cyclical - Automotive – 0.7%
American Axle & Manufacturing, Inc. 5.00%, 10/01/2029		109		106,304
7.75%, 10/15/2033^(a)		375		381,000
Nissan Motor Acceptance Co. LLC 5.625%, 09/29/2028^(a)		53		53,342
6.125%, 09/30/2030^(a)		52		52,116
Nissan Motor Co., Ltd. 4.81%, 09/17/2030^(a)		325		309,062
8.125%, 07/17/2035^(a)		200		217,920
ZF North America Capital, Inc. 6.75%, 04/23/2030^(a)		370		373,904

				1,493,648


Consumer Cyclical - Other – 0.2%
Marriott Ownership Resorts, Inc. 6.50%, 10/01/2033^(a)		411		398,074


Consumer Non-Cyclical – 1.4%
Accendra Health, Inc. 6.625%, 04/01/2030^(a)		59		28,630
B&G Foods, Inc. 8.00%, 09/15/2028^(a)		360		349,286
CHS/Community Health Systems, Inc. 4.75%, 02/15/2031^(a)		137		125,729
5.25%, 05/15/2030^(a)		327		314,280
9.75%, 01/15/2034^(a)		115		121,159
10.875%, 01/15/2032^(a)		215		233,314
HAH Group Holding Co. LLC 9.75%, 10/01/2031^(a)		401		357,407
Organon & Co./Organon Foreign Debt Co-Issuer BV 7.875%, 05/15/2034^(a)		451		420,233
Paradigm Parent LLC & Paradigm Parent CO-Issuer, Inc. 8.75%, 04/17/2032^(a)		451		391,207
US Acute Care Solutions LLC 9.75%, 05/15/2029^(a)		385		385,104
Viking Baked Goods Acquisition Corp. 8.625%, 11/01/2031^(a)		300		303,801

				3,030,150


	Principal Amount (000)		U.S. $ Value

Energy – 1.7%
Crescent Energy Finance LLC 7.375%, 01/15/2033^(a)	$	400	$	397,516
7.875%, 04/15/2032^(a)		354		359,908
8.375%, 01/15/2034^(a)		55		56,780
Ferrellgas LP/Ferrellgas Finance Corp. 9.25%, 01/15/2031^(a)		395		409,742
Hilcorp Energy I LP/Hilcorp Finance Co. 6.875%, 05/15/2034^(a)		404		394,890
7.25%, 02/15/2035^(a)		401		397,419
Moss Creek Resources Holdings, Inc. 8.25%, 09/01/2031^(a)		417		411,783
Nabors Industries, Inc. 7.625%, 11/15/2032^(a)		406		417,112
8.875%, 08/15/2031^(a)		397		411,173
SM Energy Co. 8.75%, 07/01/2031^(a)		349		365,937
9.625%, 06/15/2033^(a)		55		60,803

				3,683,063


Other Industrial – 0.2%
S&S Holdings LLC 8.375%, 10/01/2031^(a)		369		346,495


Services – 0.1%
Prime Security Services Borrower LLC/Prime Finance, Inc. 3.375%, 08/31/2027^(a)		133		130,919


Transportation - Airlines – 0.1%
JetBlue Airways Corp./JetBlue Loyalty LP 9.875%, 09/20/2031^(a)		266		270,025


Transportation - Services – 0.2%
Hertz Corp. (The) 12.625%, 07/15/2029^(a)		413		380,344

				12,832,563


Utility – 0.2%
Electric – 0.2%
NRG Energy, Inc. 5.75%, 01/15/2034^(a)		71		72,004
XPLR Infrastructure Operating Partners LP 7.75%, 04/15/2034^(a)		378		391,789

				463,793


Natural Gas – 0.0%
AmeriGas Partners LP/AmeriGas Finance Corp. 9.50%, 06/01/2030^(a)		25		26,772

				490,565


	Principal Amount (000)		U.S. $ Value

Financial Institutions – 0.2%
Finance – 0.2%
Navient Corp. 5.625%, 08/01/2033	$	420	$	345,105


Financial Services – 0.0%
Herc Holdings, Inc. 7.00%, 06/15/2030^(a)		38		39,811


REITs – 0.0%
Rithm Capital Corp. 8.00%, 07/15/2030^(a)		59		59,103

				444,019


Total Corporates - Non-Investment Grade (cost $13,673,712)				13,767,147


MORTGAGE PASS-THROUGHS – 4.5%
Agency Fixed Rate 30-Year – 4.5%
Federal Home Loan Mortgage Corp. Series 2022 3.00%, 03/01/2052		712		651,217
Federal Home Loan Mortgage Corp. Gold Series 2005 5.50%, 01/01/2035		47		48,995
Series 2007 5.50%, 07/01/2035		7		6,962
Series 2016 4.00%, 02/01/2046		333		331,865
Series 2017 4.00%, 07/01/2044		201		200,585
Series 2018 4.50%, 03/01/2048		109		110,193
4.50%, 11/01/2048		231		231,519
5.00%, 11/01/2048		130		132,937
Federal National Mortgage Association Series 2003 5.50%, 04/01/2033		13		13,303
5.50%, 07/01/2033		29		29,674
Series 2004 5.50%, 04/01/2034		4		3,784
5.50%, 05/01/2034		9		9,035
5.50%, 11/01/2034		13		13,851
5.50%, 01/01/2035		128		133,898
Series 2005 5.50%, 02/01/2035		18		18,953
Series 2007 5.50%, 08/01/2037		88		91,653
Series 2012 3.50%, 02/01/2042		95		92,096
Series 2013 3.50%, 04/01/2043		515		496,620
Series 2018 4.50%, 09/01/2048		146		146,917
Series 2021 2.00%, 07/01/2051		1,581		1,321,903
2.00%, 12/01/2051		698		582,618
Series 2022 2.50%, 03/01/2052		1,120		985,372


	Principal Amount (000)		U.S. $ Value

Government National Mortgage Association Series 2023 5.50%, 04/20/2053	$	406	$	414,747
Series 2026 2.00%, 03/01/2056, TBA		395		334,577
2.50%, 03/01/2056, TBA		394		347,603
3.00%, 03/01/2056, TBA		195		178,801
3.50%, 03/01/2056, TBA		150		140,730
4.50%, 03/01/2056, TBA		344		339,836
5.00%, 03/01/2056, TBA		414		415,455
6.00%, 03/01/2056, TBA		88		89,785
Uniform Mortgage-Backed Security Series 2026 5.00%, 03/01/2056, TBA		134		134,607
5.50%, 03/01/2056, TBA		525		533,449
6.00%, 03/01/2056, TBA		877		899,576
6.50%, 03/01/2056, TBA		192		199,388


Total Mortgage Pass-Throughs (cost $9,911,940)				9,682,504


COLLATERALIZED LOAN OBLIGATIONS – 1.7%
CLO - Floating Rate – 1.7%
Elmwood CLO 45 Ltd. Series 2025-8A, Class A1 5.139% (CME Term SOFR 3 Month + 1.25%), 10/17/2038^{(a) (b)}		750		752,842
Flatiron CLO 25 Ltd. Series 2024-2A, Class A 5.018% (CME Term SOFR 3 Month + 1.35%), 10/17/2037^{(a) (b)}		460		461,186
Neuberger Berman Loan Advisers CLO 59 Ltd. Series 2024-59A, Class A1 4.961% (CME Term SOFR 3 Month + 1.29%), 01/23/2039^{(a) (b)}		500		501,739
Pikes Peak CLO 18 Series 2025-18A, Class A1 4.888% (CME Term SOFR 3 Month + 1.22%), 04/20/2038^{(a) (b)}		500		500,742
Pikes Peak CLO 8 Series 2021-8A, Class A1R 4.998% (CME Term SOFR 3 Month + 1.33%), 01/20/2038^{(a) (b)}		300		300,756
Signal Peak CLO 14 Ltd. Series 2024-14A, Class A 4.969% (CME Term SOFR 3 Month + 1.30%), 01/22/2038^{(a) (b)}		300		300,000
Silver Point CLO 12 Ltd. Series 2025-12A, Class A1 5.288% (CME Term SOFR 3 Month + 1.31%), 10/15/2038^{(a) (b)}		750		749,547


Total Collateralized Loan Obligations (cost $3,563,817)				3,566,812


	Principal Amount (000)		U.S. $ Value

ASSET-BACKED SECURITIES – 1.6%
Autos - Fixed Rate – 0.9%
Arivo Acceptance Auto Loan Receivables Trust Series 2024-1A, Class A 6.46%, 04/17/2028^(a)	$	21	$	20,639
Avis Budget Rental Car Funding AESOP LLC Series 2023-3A, Class A 5.44%, 02/22/2028^(a)		475		479,834
Carvana Auto Receivables Trust Series 2021-N3, Class C 1.02%, 06/12/2028		22		21,374
Series 2021-N4, Class D 2.30%, 09/11/2028		36		35,028
Enterprise Fleet Financing LLC Series 2023-2, Class A2 5.56%, 04/22/2030^(a)		100		100,372
FHF Trust Series 2023-1A, Class A2 6.57%, 06/15/2028^(a)		24		24,199
Flagship Credit Auto Trust Series 2020-1, Class E 3.52%, 06/15/2027^(a)		333		332,565
Ford Credit Auto Owner Trust Series 2021-1, Class D 2.31%, 10/17/2033^(a)		542		540,064
Lendbuzz Securitization Trust Series 2023-1A, Class A2 6.92%, 08/15/2028^(a)		128		129,128
Series 2023-2A, Class A2 7.09%, 10/16/2028^(a)		56		56,961
Research-Driven Pagaya Motor Trust Series 2024-1A, Class A 7.09%, 06/25/2032^(a)		57		56,683
Santander Drive Auto Receivables Trust Series 2023-3, Class B 5.61%, 07/17/2028		96		96,041
Tesla Auto Lease Trust Series 2024-A, Class A3 5.30%, 06/21/2027^(a)		50		49,947
Tricolor Auto Securitization Trust Series 2024-2A, Class A 6.36%, 12/15/2027^{(c) (d) (e) (f) (g)}		28		26,335
US Bank NA Series 2023-1, Class B 6.789%, 08/25/2032^(a)		70		71,007

				2,040,177


Other ABS - Fixed Rate – 0.7%
College Ave Student Loans LLC Series 2021-C, Class C 3.06%, 07/26/2055^(a)		142		134,519


	Principal Amount (000)		U.S. $ Value

Dext ABS LLC Series 2023-1, Class A2 5.99%, 03/15/2032^(a)	$	61	$	61,048
Diamond Issuer LLC Series 2021-1A, Class B 2.701%, 11/20/2051^(a)		566		549,644
GCI Funding I LLC Series 2021-1, Class A 2.38%, 06/18/2046^(a)		178		167,840
Granite Park Equipment Leasing LLC Series 2023-1A, Class A3 6.46%, 09/20/2032^(a)		26		26,373
MVW LLC Series 2021-2A, Class C 2.23%, 05/20/2039^(a)		206		197,243
Nelnet Student Loan Trust Series 2021-BA, Class B 2.68%, 04/20/2062^(a)		220		199,455
Pagaya AI Debt Trust Series 2024-2, Class A 6.319%, 08/15/2031^(a)		40		40,189
Series 2024-3, Class A 6.258%, 10/15/2031^(a)		71		70,630

				1,446,941


Total Asset-Backed Securities (cost $3,545,609)				3,487,118


COMMERCIAL MORTGAGE-BACKED SECURITIES – 1.4%
Non-Agency Fixed Rate CMBS – 1.4%
BANK5 Series 2025-5YR14, Class A3 5.646%, 04/15/2058		600		632,699
BMO Mortgage Trust Series 2025-5C10, Class A3 5.578%, 05/15/2058		500		525,240
GSF 2021 1 Issuer LLC 08/26 1 Series 2021-1, Class A1 1.433%, 08/15/2026^(e)		21		21,028
Series 2021-1, Class A2 2.435%, 08/15/2026^(e)		719		712,306
Series 2021-1, Class AS 2.638%, 08/15/2026^(e)		25		24,491
Wells Fargo Commercial Mortgage Trust Series 2024-5C2, Class A3 5.92%, 11/15/2057		500		529,099
Series 2025-5C5, Class A3 5.59%, 07/15/2058		500		526,662

				2,971,525


	Principal Amount (000)		U.S. $ Value

Agency CMBS – 0.0%
Government National Mortgage Association Series 2006-39, Class IO 0.162%, 07/16/2046^(h)	$	103	$	2


Total Commercial Mortgage-Backed Securities (cost $2,960,234)				2,971,527


COLLATERALIZED MORTGAGE OBLIGATIONS – 0.2%
Risk Share Floating Rate – 0.2%
Bellemeade Re Ltd. Series 2023-1, Class M1A 5.867% (CME Term SOFR + 2.20%), 10/25/2033^{(a) (b)}		43		43,230
Connecticut Avenue Securities Trust Series 2023-R02, Class 1M1 5.967% (CME Term SOFR + 2.30%), 01/25/2043^{(a) (b)}		129		131,830
Series 2024-R02, Class 1M1 4.767% (CME Term SOFR + 1.10%), 02/25/2044^{(a) (b)}		52		51,768
Series 2024-R04, Class 1M1 4.767% (CME Term SOFR + 1.10%), 05/25/2044^{(a) (b)}		57		57,370
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2024-DNA1, Class M1 5.017% (CME Term SOFR + 1.35%), 02/25/2044^{(a) (b)}		131		130,757
Series 2024-HQA1, Class M1 4.917% (CME Term SOFR + 1.25%), 03/25/2044^(a) (b)		109		109,089

				524,044


Non-Agency Floating Rate – 0.0%
Federal Home Loan Mortgage Corp. Mscr Trust Mn1 Series 2021-MN1, Class M1 5.667% (CME Term SOFR + 2.00%), 01/25/2051^{(a) (b)}		22		21,920


Total Collateralized Mortgage Obligations (cost $542,323)				545,964


EMERGING MARKETS - CORPORATE BONDS – 0.1%
Industrial – 0.1%
Energy – 0.1%
Raizen Fuels Finance SA 6.25%, 07/08/2032^(a) (cost $282,987)		359		167,610


Company	Shares		U.S. $ Value

SHORT-TERM INVESTMENTS – 5.9%
Investment Companies – 5.9%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 3.53%^{(i) (j) (k)} (cost $12,687,631)		12,687,631	$	12,687,631

Total Investments – 101.4% (cost $216,620,880)^(l)				218,562,357
Other assets less liabilities – (1.4)%				(3,007,146	)


Net Assets – 100.0%			$	215,555,211

FUTURES


Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation (Depreciation)
Purchased Contracts
U.S. 10 Yr Ultra Futures		56		June 2026		$	6,537,125		$	32,562
U.S. Long Bond (CBT) Futures		102		June 2026			12,083,814			110,766
U.S. T-Note 2 Yr (CBT) Futures		1		June 2026			209,273			47
U.S. T-Note 5 Yr (CBT) Futures		21		June 2026			2,312,953			12,633
Sold Contracts
U.S. T-Note 10 Yr (CBT) Futures		73		June 2026			8,308,313			(35,461	)
U.S. Ultra Bond (CBT) Futures		86		June 2026			10,457,063			(94,219	)

									$	26,328

(a)

Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At February 28, 2026, the aggregate market value of these securities amounted to $34,692,448 or 16.1% of net assets.

(b)

Floating Rate Security. Stated interest/floor/ceiling rate was in effect at February 28, 2026.

(c)

Security in which significant unobservable inputs (Level 3) were used in determining fair value.

(d)

Non-income producing security.

(e)

Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities, which represent 0.36% of net assets as of February 28, 2026, are considered illiquid and restricted. Additional information regarding such securities follows:

144A/Restricted & Illiquid Securities

Acquisition
Date

Cost

Market
Value

Percentage
of
Net Assets

GSF 2021 1 Issuer LLC 08/26 1
Series 2021-1, Class A1
1.433%, 08/15/2026

06/04/2021-08/03/2023

20,139

21,028

0.01%

GSF 2021 1 Issuer LLC 08/26 1
Series 2021-1, Class A2
2.435%, 08/15/2026

02/25/2021-09/06/2022

721,228

712,306

0.33%

GSF 2021 1 Issuer LLC 08/26 1
Series 2021-1, Class AS
2.638%, 08/15/2026

02/05/2021-04/01/2021

25,065

24,491

0.01%

Tricolor Auto Securitization Trust
Series 2024-2A, Class A
6.36%, 12/15/2027

05/14/2024

28,165

26,335

0.01%

(f)

Fair valued by the Adviser.

(g)

Defaulted.

(h)

IO - Interest Only.

(i)

To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800) 227-4618.

(j)

The rate shown represents the 7-day yield as of period end.

(k)

Affiliated investments.

(l)

As of February 28, 2026, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $3,217,162 and gross unrealized depreciation of investments was $(1,249,357), resulting in net unrealized appreciation of $1,967,805.

Glossary:

ABS – Asset-Backed Securities

CBT – Chicago Board of Trade

CLO – Collateralized Loan Obligations

CMBS – Commercial Mortgage-Backed Securities

CME – Chicago Mercantile Exchange

REIT – Real Estate Investment Trust

SOFR – Secured Overnight Financing Rate

TBA – To Be Announced

AB Active ETFs, Inc.

AB Core Plus Bond ETF

February 28, 2026 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

•

Level 1 - quoted prices in active markets for identical investments

•

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

•

Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which is then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3. In addition, non-agency rated investments are classified as Level 3.

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

Valuations of mortgage-backed or other asset backed securities, by pricing vendors, are based on both proprietary and industry recognized models and discounted cash flow techniques. Significant inputs to the valuation of these instruments are value of the collateral, the rates and timing of delinquencies, the rates and timing of prepayments, and default and loss expectations, which are driven in part by housing prices for residential mortgages. Significant inputs are determined based on relative value analyses, which incorporate comparisons to instruments with similar collateral and risk profiles, including relevant indices. Mortgage and asset backed securities for which management has collected current observable data through pricing services are generally categorized within Level 2. Those investments for which current observable data has not been provided are classified as Level 3.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of February 28, 2026:


Investments in Securities:	Level 1			Level 2		Level 3		Total
Assets:
Governments - Treasuries	$	—		$	93,175,852	$	—	$	93,175,852
Corporates - Investment Grade		—			78,510,192		—		78,510,192
Corporates - Non-Investment Grade		—			13,767,147		—		13,767,147
Mortgage Pass-Throughs		—			9,682,504		—		9,682,504
Collateralized Loan Obligations		—			3,566,812		—		3,566,812
Asset-Backed Securities		—			3,460,783		26,335		3,487,118
Commercial Mortgage-Backed Securities		—			2,971,527		—		2,971,527
Collateralized Mortgage Obligations		—			545,964		—		545,964
Emerging Markets - Corporate Bonds		—			167,610		—		167,610
Short-Term Investments		12,687,631			—		—		12,687,631

Total Investments in Securities		12,687,631			205,848,391		26,335		218,562,357
Other Financial Instruments^(a):
Assets:
Futures		156,008			—		—		156,008
Liabilities:
Futures		(129,680	)		—		—		(129,680	)

Total	$	12,713,959		$	205,848,391	$	26,335	$	218,588,685

^(a)

Other financial instruments include derivative instruments, such as futures, forwards and swaps. Derivative instruments are valued at the unrealized appreciation (depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, written options and written swaptions which are valued at market value.

A summary of the Fund’s transactions in AB mutual funds for the three months ended February 28, 2026 is as follows:


Fund	Market Value 11/30/2025 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 02/28/2026 (000)		Dividend Income (000)
AB Government Money Market Portfolio	$	10,995	$	12,406	$	10,713	$	12,688	$	101