Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Long-Term Bonds — 97.2% | ||||||||
| Bank Loans — 0.8% | ||||||||
| Auto Parts & Equipment — 0.1% | ||||||||
| Clarios Glob 01/28/32 | ||||||||
| 6.152%, (1 Month CME SOFR + 2.50%), due 1/28/32(a) | $ | 99,500 | $ | 99,625 | ||||
| RealTruck Group, Inc. First Out Term Loan | ||||||||
| 9.523%, (1 Month CME SOFR + 5.75%), due 1/31/31(a) | 56,107 | 57,475 | ||||||
| RealTruck Group, Inc. Second Out Tranche B Term Loan | ||||||||
| 9.773%, (1 Month CME SOFR + 6.00%), due 1/31/31(a) | 247,856 | 147,061 | ||||||
| 304,161 | ||||||||
| Chemicals — 0.0%(b) | ||||||||
| Innophos Term Loan B 375 2027-03-01 | ||||||||
| 7.903%, (1 Month CME SOFR + 4.25%), due 3/16/29(a) | 99,734 | 96,094 | ||||||
| Commercial Services — 0.0%(b) | ||||||||
| Camelot US Acquisition LLC Amendment No. 7 Incremental Term Loan | ||||||||
| 6.917%, (1 Month CME SOFR + 3.25%), due 1/31/31(a) | 100,000 | 93,375 | ||||||
| Cosmetics / Personal Care — 0.0%(b) | ||||||||
| Prestige Brands Term Loan B 200 2033-05-12 | ||||||||
| 5.640%, (1 Month CME SOFR + 2.00%), due 6/13/33(a) | 100,000 | 100,275 | ||||||
| Diversified Financial Services — 0.0%(b) | ||||||||
| Aretec Group, Inc. Term B-4 Loan | ||||||||
| 6.653%, (1 Month CME SOFR + 3.00%), due 8/9/30(a) | 99,001 | 99,166 | ||||||
| Food — 0.1% | ||||||||
| B&G Foods, Inc. Term B-5 Term Loan | ||||||||
| 7.140%, (1 Month CME SOFR + 3.50%), due 10/10/29(a) | 99,746 | 98,300 | ||||||
| C&S Wholesale Grocers, LLC Initial Term Loan | ||||||||
| 8.659%, (1 Month CME SOFR + 5.00%), due 9/20/30(a) | 99,250 | 93,460 | ||||||
| Treehouse Foods, Inc. Initial Term Loan | ||||||||
| 7.925%, (1 Month CME SOFR + 4.25%), due 2/11/33(a) | 100,000 | 100,150 | ||||||
| 291,910 | ||||||||
| Healthcare-Services — 0.0%(b) | ||||||||
| LifePoint Health, Inc. 2024-1 Refinancing Term Loan (First Lien) | ||||||||
| 7.503%, (3 Month CME SOFR + 3.75%), due 5/17/31(a) | 99,747 | 95,133 | ||||||
| Internet — 0.0%(b) | ||||||||
| Arches Buyer, Inc. Refinancing Term Loan | ||||||||
| Principal Amount |
Value | |||||||
| Bank Loans (continued) | ||||||||
| Internet (continued) | ||||||||
| 7.074%, (1 Month CME SOFR + 3.25%), due 12/6/27(a) | $ | 98,695 | $ | 98,386 | ||||
| Machinery-Diversified — 0.1% | ||||||||
| TK Elevator U.S. Newco, Inc., Facility B | ||||||||
| 6.651%, (1 Month CME SOFR + 2.75%), due 4/30/30(a) | 197,512 | 198,204 | ||||||
| Media — 0.1% | ||||||||
| Gray Television, Inc. Term D Loan | ||||||||
| 6.782%, (1 Month CME SOFR + 3.00%), due 12/1/28(a) | 53,391 | 53,500 | ||||||
| LCPR Loan Financing LLC 2021 Additional Term Loan | ||||||||
| 7.532%, (1 Month CME SOFR + 3.75%), due 10/16/28(a) | 100,000 | 56,812 | ||||||
| Warner Bros. Discovery Term Loan B 250 2033-05-17 | ||||||||
| 6.157%, (1 Month CME SOFR + 2.50%), due 6/3/33(a) | 127,500 | 127,527 | ||||||
| 237,839 | ||||||||
| Mining — 0.1% | ||||||||
| American Rock Salt Co., LLC Initial Loan (First Lien) | ||||||||
| 7.927%, (3 Month CME SOFR + 4.00%), due 6/9/28(a) | 151,501 | 140,138 | ||||||
| Pharmaceuticals — 0.1% | ||||||||
| 1261229 B.C. Ltd. Initial Term Loan | ||||||||
| 9.897%, (1 Month CME SOFR + 6.25%), due 10/8/30(a) | 199,246 | 193,185 | ||||||
| Endo Finance Holdings, Inc. 2024 Refinancing Term Loan | ||||||||
| 7.667%, (1 Month CME SOFR + 3.75%), due 4/23/31(a) | 99,746 | 99,801 | ||||||
| 292,986 | ||||||||
| Pipelines — 0.0%(b) | ||||||||
| GIP Pilot Acquisition Partners Term Loan B 200 2033-05-10 | ||||||||
| 5.647%, (1 Month CME SOFR + 2.00%), due 5/19/33(a) | 100,000 | 99,875 | ||||||
| Retail — 0.1% | ||||||||
| Great Outdoors Group, LLC Term B-3 Loan | ||||||||
| 6.909%, (1 Month CME SOFR + 3.25%), due 1/23/32(a) | 492,500 | 494,259 | ||||||
| Software — 0.0%(b) | ||||||||
| Cloud Software Group, Inc. Tenth Amendment Tranche B-1 Term Loan | ||||||||
| 7.006%, (3 Month CME SOFR + 3.25%), due 8/13/32(a) | 124,063 | 110,664 | ||||||
| Transportation — 0.1% | ||||||||
| Forward Air Term Loan B 450 2030-12-01 | ||||||||
| 8.223%, (3 Month CME SOFR + 4.50%), due 12/19/30(a) | 100,000 | 96,028 | ||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Bank Loans (continued) | ||||||||
| Transportation (continued) | ||||||||
| Genesee & Wyoming Term Loan B 175 2031-04-01 | ||||||||
| 5.418%, (3 Month CME SOFR + 1.75%), due 4/10/31(a) | $ | 99,746 | $ | 99,440 | ||||
| NA Rail Hold Co. LLC Tranche B-4 Term Loan | ||||||||
| 6.259%, (3 Month CME SOFR + 2.50%), due 3/8/32(a) | 99,000 | 99,247 | ||||||
| 294,715 | ||||||||
| Total Bank Loans | ||||||||
| (Cost $3,135,736) | 3,047,180 | |||||||
| Collateralized Loan Obligations — 1.6% | ||||||||
| 720 East CLO IV Ltd., (Cayman Islands) | ||||||||
| Series 2024-1A D1R | ||||||||
| 6.572%, (3 Month CME SOFR + 2.90%), due 7/15/39(a) | 300,000 | 299,113 | ||||||
| AGL CLO 17 Ltd., (Cayman Islands) | ||||||||
| Series 2022-17A BR | ||||||||
| 5.134%, (3 Month CME SOFR + 1.40%), due 1/21/35(a) | 700,000 | 700,520 | ||||||
| Arini U.S. CLO VII Ltd., (Cayman Islands) | ||||||||
| Series 2026-7A D | ||||||||
| 6.351%, (3 Month CME SOFR + 2.60%), due 7/15/39(a) | 350,000 | 349,934 | ||||||
| BCC Middle Market CLO LLC | ||||||||
| Series 2025-1A A1 | ||||||||
| 5.370%, (3 Month CME SOFR + 1.62%), due 7/17/37(a) | 435,000 | 434,009 | ||||||
| Blackrock Rainier CLO VI Ltd., (Cayman Islands) | ||||||||
| Series 2021-6A A1R | ||||||||
| 5.279%, (3 Month CME SOFR + 1.55%), due 4/20/37(a) | 400,000 | 400,822 | ||||||
| Diameter Capital CLO 5 Ltd., (Cayman Islands) | ||||||||
| Series 2023-5A A1R | ||||||||
| 4.993%, (3 Month CME SOFR + 1.24%), due 1/15/39(a) | 700,000 | 698,932 | ||||||
| Elmwood CLO 23 Ltd., (Cayman Islands) | ||||||||
| Series 2023-2A A2R2 | ||||||||
| 5.051%, (3 Month CME SOFR + 1.37%), due 7/16/39(a) | 650,000 | 649,096 | ||||||
| Fortress Credit Opportunities XXI CLO LLC | ||||||||
| Series 2023-21A A1TR | ||||||||
| 5.304%, (3 Month CME SOFR + 1.57%), due 1/21/37(a) | 350,000 | 348,951 | ||||||
| Golub Capital CLO 86B Ltd., (Cayman Islands) | ||||||||
| Series 2026-86A C | ||||||||
| 5.358%, (3 Month CME SOFR + 1.70%), due 1/25/39(a) | 300,000 | 299,406 | ||||||
| Golub Capital Partners CLO 78M | ||||||||
| Series 2025-78A A1 | ||||||||
| 5.114%, (3 Month CME SOFR + 1.38%), due 4/21/39(a) | 600,000 | 596,834 | ||||||
| ICG U.S. CLO 2026-1 Ltd., (Cayman Islands) | ||||||||
| Series 2026-1A C | ||||||||
|
0.000%, (3 Month CME SOFR + 1.80%), due 3/30/39(g) | 500,000 | 500,000 | ||||||
| Principal Amount |
Value | |||||||
| Collateralized Loan Obligations (continued) | ||||||||
| Sixth Street CLO XIV Ltd., (Cayman Islands) | ||||||||
| Series 2019-14A A1R2 | ||||||||
| 4.884%, (3 Month CME SOFR + 1.15%), due 1/20/38(a) | $ | 700,000 | $ | 698,769 | ||||
| Total Collateralized Loan Obligations | ||||||||
| (Cost $5,982,725) | 5,976,386 | |||||||
| Collateralized Mortgage Obligations — 5.8% | ||||||||
| Mortgage Securities — 5.8% | ||||||||
| Agate Bay Mortgage Trust | ||||||||
| Series 2015-5 B3 | ||||||||
| 3.569%, due 7/25/45(a)(c) | 124,229 | 94,835 | ||||||
| Aspire Mortgage Trust 2026-1 | ||||||||
| Series 2026-1 A1 | ||||||||
| 4.855%, due 1/25/66(a)(c) | 460,208 | 454,260 | ||||||
| BRAVO Residential Funding Trust | ||||||||
| Series 2024-NQM8 A1A | ||||||||
| 4.300%, due 8/1/53 | 270,249 | 264,663 | ||||||
| CHL Mortgage Pass-Through Trust | ||||||||
| Series 2005-9 1A1 | ||||||||
| 4.439%, (1 Month CME SOFR + 0.71%), due 5/25/35(a) | 30,421 | 26,872 | ||||||
| Citigroup Mortgage Loan Trust | ||||||||
| Series 2025-4 A2 | ||||||||
| 5.500%, due 10/25/55(a)(c) | 286,418 | 281,182 | ||||||
| CLIP 2026-NQM1 Trust | ||||||||
| Series 2026-NQM1 A1 | ||||||||
| 5.221%, due 5/25/71(a)(c) | 591,314 | 586,591 | ||||||
| Connecticut Avenue Securities | ||||||||
| Series 2025-R01 1B1 | ||||||||
| 5.316%, (1 Month SOFR + 1.70%), due 1/25/45(a) | 770,000 | 771,220 | ||||||
| Connecticut Avenue Securities Trust | ||||||||
| Series 2019-HRP1 B1 | ||||||||
| 12.981%, (1 Month SOFR + 9.36%), due 11/25/39(a) | 544,925 | 558,178 | ||||||
| Series 2021-R03 1B2 | ||||||||
| 9.116%, (1 Month SOFR + 5.50%), due 12/25/41(a) | 485,000 | 492,906 | ||||||
| Series 2022-R01 1B2 | ||||||||
| 9.616%, (1 Month SOFR + 6.00%), due 12/25/41(a) | 425,000 | 432,651 | ||||||
| Series 2022-R02 2B2 | ||||||||
| 11.266%, (1 Month SOFR + 7.65%), due 1/25/42(a) | 490,000 | 504,352 | ||||||
| Series 2022-R07 1M2 | ||||||||
| 8.266%, (1 Month SOFR + 4.65%), due 6/25/42(a) | 100,000 | 103,116 | ||||||
| Series 2022-R08 1B1 | ||||||||
| 9.216%, (1 Month SOFR + 5.60%), due 7/25/42(a) | 865,000 | 902,830 | ||||||
| Series 2023-R03 2M2 | ||||||||
| 7.516%, (1 Month SOFR + 3.90%), due 4/25/43(a) | 275,000 | 286,662 | ||||||
| Series 2023-R07 2M2 | ||||||||
| 6.866%, (1 Month SOFR + 3.25%), due 9/25/43(a) | 540,000 | 555,327 | ||||||
| Series 2024-R02 1B1 | ||||||||
| 6.116%, (1 Month SOFR + 2.50%), due 2/25/44(a) | 220,000 | 225,281 | ||||||
| Series 2024-R03 2M2 | ||||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Collateralized Mortgage Obligations (continued) | ||||||||
| Mortgage Securities (continued) | ||||||||
| 5.566%, (1 Month SOFR + 1.95%), due 3/25/44(a) | $ | 200,000 | $ | 201,497 | ||||
| Series 2024-R05 2B1 | ||||||||
| 5.616%, (1 Month SOFR + 2.00%), due 7/25/44(a) | 1,340,000 | 1,352,531 | ||||||
| GS Mortgage-Backed Securities Trust | ||||||||
| Series 2023-PJ1 A4 | ||||||||
| 3.500%, due 2/25/53(a)(c) | 430,019 | 376,362 | ||||||
| HarborView Mortgage Loan Trust | ||||||||
| Series 2005-2 2A1A | ||||||||
| 4.224%, (1 Month CME SOFR + 0.55%), due 5/19/35(a) | 52,478 | 50,695 | ||||||
| J.P. Morgan Mortgage Trust | ||||||||
| Series 2021-4 B1 | ||||||||
| 2.886%, due 8/25/51(a)(c) | 1,385,914 | 1,143,351 | ||||||
| Series 2022-1 B3 | ||||||||
| 3.084%, due 7/25/52(a)(c) | 710,306 | 569,830 | ||||||
| Series 2024-INV1 A4 | ||||||||
| 6.000%, due 4/25/55(a)(c) | 299,082 | 299,065 | ||||||
| J.P. Morgan Mortgage Trust Series 2025-NQM4 | ||||||||
| Series 2025-NQM4 A1F | ||||||||
| 4.816%, (1 Month SOFR + 1.20%), due 3/25/66(a) | 409,033 | 408,531 | ||||||
| Mill City Mortgage Loan Trust | ||||||||
| Series 2018-3 B2 | ||||||||
| 3.250%, due 8/25/58(a)(c) | 1,092,671 | 821,060 | ||||||
| Mill City Mortgage Loan Trust 2018-3 | ||||||||
| Series 2018-3 B1 | ||||||||
| 3.250%, due 8/25/58(a)(c) | 406,134 | 335,228 | ||||||
| Multifamily Connecticut Avenue Securities Trust | ||||||||
| Series 2020-01 CE | ||||||||
| 11.231%, (1 Month SOFR + 7.61%), due 3/25/50(a) | 200,000 | 206,425 | ||||||
| Multifamily Connecticut Avenue Securities Trust 2024-01 | ||||||||
| Series 2024-01 M10 | ||||||||
| 7.466%, (1 Month SOFR + 3.85%), due 7/25/54(a) | 585,000 | 607,453 | ||||||
| New Residential Mortgage Loan Trust | ||||||||
| Series 2019-RPL3 B2 | ||||||||
| 3.962%, due 7/25/59(a)(c) | 550,000 | 464,098 | ||||||
| OBX Trust | ||||||||
| Series 2019-INV2 A5 | ||||||||
| 4.000%, due 5/27/49(a)(c) | 218,459 | 198,454 | ||||||
| Series 2022-J1 A14 | ||||||||
| 2.500%, due 2/25/52(a)(c) | 687,102 | 547,924 | ||||||
| RCKT Mortgage Trust | ||||||||
| Series 2021-5 A1 | ||||||||
| 2.500%, due 11/25/51(a)(c) | 4,061,481 | 3,274,942 | ||||||
| SG Residential Mortgage Trust 2026-4 | ||||||||
| Series 2026-4 A1 | ||||||||
| 5.507%, due 7/1/66(a)(c) | 561,353 | 559,708 | ||||||
| STACR Trust | ||||||||
| Series 2018-HRP1 B2 | ||||||||
| 15.481%, (1 Month SOFR + 11.86%), due 5/25/43(a) | 1,283,772 | 1,483,458 | ||||||
| Series 2018-HRP2 B2 | ||||||||
| 14.231%, (1 Month SOFR + 10.61%), due 2/25/47(a) | 335,000 | 398,335 | ||||||
| Towd Point Mortgage Trust | ||||||||
| Series 2026-1 A1A | ||||||||
| 4.131%, due 1/25/66(a)(c) | 458,431 | 450,614 | ||||||
| UWM Mortgage Trust | ||||||||
| Principal Amount |
Value | |||||||
| Collateralized Mortgage Obligations (continued) | ||||||||
| Mortgage Securities (continued) | ||||||||
| Series 2021-INV5 A14 | ||||||||
| 3.000%, due 1/25/52(a)(c) | $ | 811,913 | $ | 675,474 | ||||
| Verus Securitization Trust 2025-R2 | ||||||||
| Series 2025-R2 A1 | ||||||||
| 5.086%, due 7/25/67(a)(c) | 573,242 | 567,063 | ||||||
| WaMu Mortgage Pass-Through Certificates Trust | ||||||||
| Series 2004-AR13 A2B | ||||||||
| 4.719%, (1 Month CME SOFR + 0.99%), due 11/25/34(a) | 30,945 | 30,056 | ||||||
| Total Collateralized Mortgage Obligations | ||||||||
| (Cost $21,871,625) | 21,563,080 | |||||||
| Commercial Asset-Backed Securities — 6.9% | ||||||||
| Asset Backed Securities — 6.9% | ||||||||
| Ally Bank Auto Credit-Linked Notes | ||||||||
| Series 2024-B G | ||||||||
| 11.395%, due 9/15/32 | 336,787 | 343,635 | ||||||
| American Credit Acceptance Receivables Trust | ||||||||
| Series 2026-3 D | ||||||||
| 5.490%, due 3/8/33 | 660,000 | 659,497 | ||||||
| American Credit Acceptance Receivables Trust 2026-2 | ||||||||
| Series 2026-2 D | ||||||||
| 5.180%, due 6/8/32 | 580,000 | 574,024 | ||||||
| Bayview Opportunity Master Fund VII LLC | ||||||||
| Series 2024-EDU1 C | ||||||||
| 5.416%, (1 Month SOFR + 1.80%), due 6/25/47(a) | 290,551 | 291,528 | ||||||
| Series 2024-EDU1 D | ||||||||
| 6.366%, (1 Month SOFR + 2.75%), due 6/25/47(a) | 544,784 | 554,396 | ||||||
| Bridgecrest Lending Auto Securitization Trust | ||||||||
| Series 2025-3 E | ||||||||
| 6.620%, due 5/17/32 | 775,000 | 765,307 | ||||||
| Carmax Select Receivables Trust 2025-B | ||||||||
| Series 2025-B E | ||||||||
| 6.890%, due 9/15/32 | 605,000 | 602,959 | ||||||
| CF Hippolyta Issuer LLC | ||||||||
| Series 2020-1 A2 | ||||||||
| 1.990%, due 7/15/60 | 527,085 | 433,533 | ||||||
| Series 2020-1 B1 | ||||||||
| 2.280%, due 7/15/60 | 845,485 | 508,592 | ||||||
| Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC | ||||||||
| Series 2025-4A A2 | ||||||||
| 5.522%, due 12/20/55 | 515,000 | 514,613 | ||||||
| Exeter Automobile Receivables Trust | ||||||||
| Series 2022-2A E | ||||||||
| 6.340%, due 10/15/29 | 615,000 | 598,883 | ||||||
| Series 2023-4A D | ||||||||
| 6.950%, due 12/17/29 | 260,000 | 263,502 | ||||||
| Series 2025-3A D | ||||||||
| 5.570%, due 10/15/31 | 225,000 | 226,849 | ||||||
| Series 2025-4A E | ||||||||
| 6.990%, due 4/15/33 | 440,000 | 437,619 | ||||||
| Exeter Automobile Receivables Trust 2026-1 | ||||||||
| Series 2026-1A E | ||||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Commercial Asset-Backed Securities (continued) | ||||||||
| Asset Backed Securities (continued) | ||||||||
| 6.690%, due 8/15/33 | $ | 470,000 | $ | 459,060 | ||||
| Exeter Automobile Receivables Trust 2026-3 | ||||||||
| Series 2026-3A D | ||||||||
| 5.440%, due 10/15/32 | 540,000 | 538,305 | ||||||
| Exeter Select Automobile Receivables Trust 2025-2 | ||||||||
| Series 2025-2 D | ||||||||
| 5.340%, due 1/15/32 | 600,000 | 596,123 | ||||||
| Flagship Credit Auto Trust | ||||||||
| Series 2021-3 E | ||||||||
| 3.320%, due 12/15/28 | 890,000 | 767,557 | ||||||
| Series 2022-1 D | ||||||||
| 3.640%, due 3/15/28 | 770,425 | 759,736 | ||||||
| Series 2022-2 D | ||||||||
| 5.800%, due 4/17/28 | 729,000 | 614,595 | ||||||
| Flexential Issuer LLC | ||||||||
| Series 2025-1A C | ||||||||
| 8.540%, due 10/25/60 | 460,000 | 452,942 | ||||||
| Ford Credit Auto Owner Trust | ||||||||
| Series 2023-1 D | ||||||||
| 6.260%, due 8/15/35 | 425,000 | 430,319 | ||||||
| GLS Auto Receivables Issuer Trust | ||||||||
| Series 2022-3A E | ||||||||
| 8.350%, due 10/15/29 | 425,000 | 436,496 | ||||||
| Series 2024-3A D | ||||||||
| 5.530%, due 2/18/31 | 660,000 | 662,849 | ||||||
| Hertz Vehicle Financing III LLC | ||||||||
| Series 2025-6A A | ||||||||
| 4.890%, due 5/25/32 | 735,000 | 718,493 | ||||||
| Home Partners of America | ||||||||
| Series 2021-2 B | ||||||||
| 2.302%, due 12/17/26 | 88,623 | 87,661 | ||||||
| HPEFS Equipment Trust | ||||||||
| Series 2024-1A D | ||||||||
| 5.820%, due 11/20/31 | 260,000 | 261,691 | ||||||
| J.P. Morgan Mortgage Trust 2026-ACES1 | ||||||||
| Series 2026-ACES1 A2 | ||||||||
| 5.161%, due 4/25/66(a)(c) | 465,000 | 453,440 | ||||||
| Series 2026-ACES1 M1 | ||||||||
| 5.609%, due 4/25/66(a)(c) | 900,000 | 883,148 | ||||||
| Kinetic ABS Issuer LLC | ||||||||
| Series 2026-1A A2 | ||||||||
| 5.219%, due 2/25/56 | 580,000 | 568,207 | ||||||
| LAD Auto Receivables Trust | ||||||||
| Series 2024-3A D | ||||||||
| 5.180%, due 2/17/32 | 885,000 | 881,986 | ||||||
| Magnetite 50 Ltd., (Cayman Islands) | ||||||||
| Series 2025-50A A1 | ||||||||
| 5.090%, (3 Month CME SOFR + 1.28%), due 7/25/38(a) | 650,000 | 651,404 | ||||||
| New Economy Assets Phase 1 Sponsor LLC | ||||||||
| Series 2021-1 A1 | ||||||||
| 1.910%, due 10/20/61 | 420,000 | 340,204 | ||||||
| Series 2021-1 B1 | ||||||||
| 2.410%, due 10/20/61 | 865,000 | 502,241 | ||||||
| Octagon Investment Partners 49 Ltd., (Cayman Islands) | ||||||||
| Series 2020-5A ARR | ||||||||
| 4.873%, (3 Month CME SOFR + 1.12%), due 4/15/37(a) | 450,000 | 449,294 | ||||||
| POINTB 2026-1A B 8/56 | ||||||||
| Series 2026-1A B | ||||||||
| Principal Amount |
Value | |||||||
| Commercial Asset-Backed Securities (continued) | ||||||||
| Asset Backed Securities (continued) | ||||||||
| 6.581%, due 8/20/56 | $ | 665,000 | $ | 667,624 | ||||
| Progress Residential Trust | ||||||||
| Series 2025-SFR3 D | ||||||||
| 3.390%, due 7/17/42 | 540,000 | 486,883 | ||||||
| Retained Vantage Data Centers Issuer LLC | ||||||||
| Series 2023-1A A2A | ||||||||
| 5.000%, due 9/15/48 | 435,000 | 429,212 | ||||||
| RIN V LLC | ||||||||
| Series 2023-2A A1R | ||||||||
| 5.081%, (3 Month CME SOFR + 1.34%), due 10/14/36(a) | 650,000 | 650,052 | ||||||
| RIN XIII LLC | ||||||||
| Series 2026-1A A1 | ||||||||
| 5.043%, (3 Month CME SOFR + 1.29%), due 4/15/39(a) | 450,000 | 450,235 | ||||||
| Santander Drive Auto Receivables Trust 2025-1 | ||||||||
| Series 2025-1 D | ||||||||
| 5.430%, due 3/17/31 | 430,000 | 432,988 | ||||||
| Santander Drive Auto Receivables Trust 2026-1 | ||||||||
| Series 2026-1 D | ||||||||
| 4.750%, due 4/15/32 | 585,000 | 572,496 | ||||||
| Shentel Issuer LLC | ||||||||
| Series 2025-1A A2 | ||||||||
| 5.640%, due 12/20/55 | 1,065,000 | 1,066,308 | ||||||
| Subway Funding LLC | ||||||||
| Series 2024-1A A2I | ||||||||
| 6.028%, due 7/30/54 | 343,875 | 344,587 | ||||||
| Switch ABS Issuer LLC | ||||||||
| Series 2025-2A B | ||||||||
| 6.244%, due 10/25/55 | 410,000 | 396,065 | ||||||
| Tricon Residential 2024-SFR4 Trust | ||||||||
| Series 2024-SFR4 A | ||||||||
| 4.300%, due 11/17/41 | 482,543 | 469,361 | ||||||
| VERTICAL BRIDGE CC LLC | ||||||||
| Series 2025-1A D | ||||||||
| 9.383%, due 8/16/55 | 365,000 | 372,635 | ||||||
| Zayo Issuer LLC | ||||||||
| Series 2025-2A B | ||||||||
| 6.586%, due 6/20/55 | 430,000 | 434,372 | ||||||
| Series 2025-3A A2 | ||||||||
| 5.570%, due 10/20/55 | 710,000 | 696,309 | ||||||
| Total Commercial Asset-Backed Securities | ||||||||
| (Cost $26,616,701) | 25,759,815 | |||||||
| Commercial Mortgage-Backed Securities — 7.8% | ||||||||
| Mortgage Securities — 7.8% | ||||||||
| BAMLL Commercial Mortgage Securities Trust | ||||||||
| Series 2016-ISQ A | ||||||||
| 2.848%, due 8/14/34 | 580,000 | 410,953 | ||||||
| BAMLL Commercial Mortgage Securities Trust 2014-520M | ||||||||
| Series 2014-520M A | ||||||||
| 4.185%, due 8/15/46(a)(c) | 475,000 | 426,621 | ||||||
| BANK | ||||||||
| Series 2017-BNK7 C | ||||||||
| 3.970%, due 9/15/60(a)(c) | 245,000 | 225,488 | ||||||
| Benchmark Mortgage Trust | ||||||||
| Series 2019-B11 A5 | ||||||||
| 3.542%, due 5/15/52 | 315,000 | 301,870 | ||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Commercial Mortgage-Backed Securities (continued) | ||||||||
| Mortgage Securities (continued) | ||||||||
| Series 2019-B14 C | ||||||||
| 3.771%, due 12/15/62(a)(c) | $ | 450,000 | $ | 321,983 | ||||
| BFLD Commercial Mortgage Trust 2025-5MW | ||||||||
| Series 2025-5MW A | ||||||||
| 4.674%, due 10/10/42(a)(c) | 595,000 | 583,275 | ||||||
| Series 2025-5MW C | ||||||||
| 5.451%, due 10/10/42(a)(c) | 500,000 | 493,952 | ||||||
| BMO Mortgage Trust | ||||||||
| Series 2022-C1 111A | ||||||||
| 3.269%, due 2/17/55(a)(c) | 840,000 | 809,888 | ||||||
| BWAY 2013-1515 Mortgage Trust | ||||||||
| Series 2013-1515 B | ||||||||
| 3.473%, due 3/10/33 | 650,000 | 616,035 | ||||||
| BX Commercial Mortgage Trust | ||||||||
| Series 2024-BRBK D | ||||||||
| 9.676%, (1 Month CME SOFR + 5.97%), due 10/15/41(a) | 495,000 | 492,535 | ||||||
| BX Commercial Mortgage Trust 2019-IMC | ||||||||
| Series 2019-IMC F | ||||||||
| 6.622%, (1 Month CME SOFR + 2.95%), due 4/15/34(a) | 480,000 | 469,466 | ||||||
| BX Commercial Mortgage Trust 2020-VIV3 | ||||||||
| Series 2020-VIV3 B | ||||||||
| 3.544%, due 3/9/44(a)(c) | 620,000 | 579,397 | ||||||
| BX Commercial Mortgage Trust 2024-VLT5 | ||||||||
| Series 2024-VLT5 E | ||||||||
| 7.872%, due 11/13/46(a)(c) | 555,000 | 548,319 | ||||||
| BX Commercial Mortgage Trust 2026-VLT9 | ||||||||
| Series 2026-VLT9 C | ||||||||
| 6.226%, (1 Month CME SOFR + 2.55%), due 3/15/45(a) | 480,000 | 478,801 | ||||||
| BX Trust 2023-LIFE | ||||||||
| Series 2023-LIFE A | ||||||||
| 5.045%, due 2/15/28 | 350,000 | 344,031 | ||||||
| BX Trust 2025-ARIA | ||||||||
| Series 2025-ARIA C | ||||||||
| 5.517%, due 12/13/42(a)(c) | 495,000 | 489,694 | ||||||
| BX Trust 2025-LIFE | ||||||||
| Series 2025-LIFE A | ||||||||
| 5.884%, due 6/13/47(a)(c) | 515,000 | 503,186 | ||||||
| BX Trust 2025-VLT7 | ||||||||
| Series 2025-VLT7 C | ||||||||
| 6.026%, (1 Month CME SOFR + 2.35%), due 7/15/44(a) | 585,000 | 584,999 | ||||||
| BX Trust 2025-VOLT | ||||||||
| Series 2025-VOLT D | ||||||||
| 6.426%, (1 Month CME SOFR + 2.75%), due 12/15/44(a) | 600,000 | 598,499 | ||||||
| CFCRE Commercial Mortgage Trust 2016-C4 | ||||||||
| Series 2016-C4 D | ||||||||
| 4.417%, due 5/10/58(a)(c) | 617,007 | 598,491 | ||||||
| Citigroup Commercial Mortgage Trust | ||||||||
| Series 2018-B2 D | ||||||||
| 3.143%, due 3/10/51(a)(c) | 1,120,000 | 812,554 | ||||||
| Citigroup Commercial Mortgage Trust 2026-MFAM1 | ||||||||
| Series 2026-MFAM1 C | ||||||||
| 6.087%, due 7/15/59(a)(c) | 610,000 | 610,804 | ||||||
| COMM 2014-CCRE20 Mortgage Trust | ||||||||
| Principal Amount |
Value | |||||||
| Commercial Mortgage-Backed Securities (continued) | ||||||||
| Mortgage Securities (continued) | ||||||||
| Series 2014-CR20 D | ||||||||
| 3.222%, due 11/10/47 | $ | 293,837 | $ | 149,857 | ||||
| COMM 2018-HCLV Mortgage Trust | ||||||||
| Series 2018-HCLV A | ||||||||
| 4.972%, (1 Month CME SOFR + 1.30%), due 9/15/33(a) | 500,000 | 473,168 | ||||||
| COMM 2020-CX Mortgage Trust | ||||||||
| Series 2020-CX B | ||||||||
| 2.446%, due 11/10/46 | 425,000 | 349,391 | ||||||
| COMM Mortgage Trust | ||||||||
| Series 2016-DC2 D | ||||||||
| 3.857%, due 2/10/49(a)(c) | 1,260,000 | 1,150,330 | ||||||
| CSMC 2014-USA OA LLC | ||||||||
| Series 2014-USA A2 | ||||||||
| 3.953%, due 9/15/37 | 505,000 | 466,051 | ||||||
| CSMC 2017-TIME | ||||||||
| Series 2017-TIME A | ||||||||
| 3.646%, due 11/13/39 | 525,000 | 502,891 | ||||||
| Durst Commercial Mortgage Trust 2025-151 | ||||||||
| Series 2025-151 D | ||||||||
| 6.791%, due 8/10/42(a)(c) | 655,000 | 668,712 | ||||||
| Extended Stay America Trust 2026-ESH2 | ||||||||
| Series 2026-ESH2 D | ||||||||
| 5.926%, (1 Month CME SOFR + 2.25%), due 2/15/43(a) | 543,414 | 546,471 | ||||||
| First Citizens Loan Trust 2026-SBA1 | ||||||||
| Series 2026-SBA1A M3 | ||||||||
| 6.594%, due 5/27/53 | 655,000 | 648,571 | ||||||
| GS Mortgage Securities Trust | ||||||||
| Series 2015-GC30 B | ||||||||
| 3.961%, due 5/10/50(a)(c) | 226,798 | 220,561 | ||||||
| Hilton USA Trust 2016-SFP | ||||||||
| Series 2016-SFP A | ||||||||
| 2.828%, due 11/5/35 | 485,000 | 400,610 | ||||||
| Hudson Yards 2025-SPRL Mortgage Trust | ||||||||
| Series 2025-SPRL D | ||||||||
| 6.340%, due 1/13/40(a)(c) | 345,000 | 349,990 | ||||||
| J.P. Morgan Chase Commercial Mortgage Securities Trust | ||||||||
| Series 2021-1440 A | ||||||||
| 5.091%, (1 Month CME SOFR + 1.41%), due 3/15/36(a) | 350,000 | 329,026 | ||||||
| J.P. Morgan Chase Commercial Mortgage Securities Trust 2022-NLP | ||||||||
| Series 2022-NLP A | ||||||||
| 4.523%, (1 Month CME SOFR + 0.85%), due 4/15/37(a) | 544,779 | 540,353 | ||||||
| JPMCC Commercial Mortgage Securities Trust | ||||||||
| Series 2019-COR5 D | ||||||||
| 3.000%, due 6/13/52 | 155,000 | 122,370 | ||||||
| JPMF1 Multifamily Mortgage Trust 2026-FX1 | ||||||||
| Series 2026-FX1 B | ||||||||
| 5.617%, due 5/15/59(a)(c) | 555,000 | 554,699 | ||||||
| Life 2022-BMR Mortgage Trust | ||||||||
| Series 2022-BMR2 A1 | ||||||||
| 4.972%, (1 Month CME SOFR + 1.30%), due 5/15/39(a) | 605,000 | 567,188 | ||||||
| LONG Trust 2026-ISL | ||||||||
| Series 2026-ISL A | ||||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Commercial Mortgage-Backed Securities (continued) | ||||||||
| Mortgage Securities (continued) | ||||||||
| 5.376%, (1 Month CME SOFR + 1.70%), due 6/15/43(a) | $ | 565,000 | $ | 564,306 | ||||
| Manhattan West 2020-1MW Mortgage Trust | ||||||||
| Series 2020-1MW C | ||||||||
| 2.335%, due 9/10/39(a)(c) | 485,000 | 468,984 | ||||||
| Manhattan West 2026-2MW Mortgage Trust | ||||||||
| Series 2026-2MW B | ||||||||
| 5.534%, due 6/10/48(a)(c) | 660,000 | 650,546 | ||||||
| Morgan Stanley Bank of America Merrill Lynch Trust 2015-C22 | ||||||||
| Series 2015-C22 D | ||||||||
| 3.962%, due 4/15/48(a)(c) | 900,000 | 355,491 | ||||||
| Morgan Stanley Capital I Trust | ||||||||
| Series 2014-150E A | ||||||||
| 3.912%, due 9/9/32 | 1,050,000 | 993,452 | ||||||
| Series 2015-420 A | ||||||||
| 7.982%, due 10/12/50 | 376,996 | 382,071 | ||||||
| Morgan Stanley Capital I Trust 2021-230P | ||||||||
| Series 2021-230P A | ||||||||
| 4.960%, (1 Month CME SOFR + 1.28%), due 12/15/38(a) | 325,000 | 315,382 | ||||||
| MSWF Commercial Mortgage Trust | ||||||||
| Series 2023-2 AS | ||||||||
| 6.491%, due 12/15/56(a)(c) | 395,000 | 415,538 | ||||||
| Natixis Commercial Mortgage Securities Trust | ||||||||
| Series 2019-MILE A | ||||||||
| 5.256%, (1 Month CME SOFR + 1.58%), due 7/15/36(a) | 381,986 | 371,481 | ||||||
| NCMF Trust | ||||||||
| Series 2025-MFS D | ||||||||
| 6.618%, due 6/10/33(a)(c) | 925,000 | 925,558 | ||||||
| NCMF Trust 2025-MFS | ||||||||
| Series 2025-MFS C | ||||||||
| 6.041%, due 6/10/33(a)(c) | 480,000 | 480,777 | ||||||
| NYC Commercial Mortgage Trust 2025-1155 | ||||||||
| Series 2025-1155 E | ||||||||
| 7.358%, due 6/10/42(a)(c) | 635,000 | 617,681 | ||||||
| NYC Trust 2026-9W57 | ||||||||
| Series 2026-9W57 A | ||||||||
| 4.890%, due 6/6/40(a)(c) | 470,000 | 463,187 | ||||||
| Series 2026-9W57 C | ||||||||
| 5.422%, due 6/6/40(a)(c) | 490,000 | 484,394 | ||||||
| PFDR Trust 2026-DLVR | ||||||||
| Series 2026-DLVR B | ||||||||
| 5.776%, (1 Month CME SOFR + 2.10%), due 6/15/43(a) | 505,000 | 505,316 | ||||||
| PNW Trust 2026-ARTE | ||||||||
| Series 2026-ARTE A | ||||||||
| 5.388%, (1 Month CME SOFR + 1.71%), due 4/15/41(a) | 560,000 | 558,600 | ||||||
| ROCK Trust 2024-CNTR | ||||||||
| Series 2024-CNTR C | ||||||||
| 6.471%, due 11/13/41 | 455,000 | 463,418 | ||||||
| SG Commercial Mortgage Securities Trust | ||||||||
| Series 2016-C5 B | ||||||||
| 3.933%, due 10/10/48 | 400,000 | 381,680 | ||||||
| SKY Trust 2025-LINE | ||||||||
| Series 2025-LINE B | ||||||||
| Principal Amount |
Value | |||||||
| Commercial Mortgage-Backed Securities (continued) | ||||||||
| Mortgage Securities (continued) | ||||||||
| 7.363%, (1 Month CME SOFR + 3.69%), due 4/15/42(a) | $ | 356,194 | $ | 358,674 | ||||
| UBS Commercial Mortgage Trust | ||||||||
| Series 2018-C9 C | ||||||||
| 4.942%, due 3/15/51(a)(c) | 550,000 | 324,602 | ||||||
| Total Commercial Mortgage-Backed Securities | ||||||||
| (Cost $29,839,531) | 29,422,218 | |||||||
| Corporate Bonds — 42.2% | ||||||||
| Advertising — 0.2% | ||||||||
| Clear Channel Outdoor Holdings, Inc. | ||||||||
| 7.750%, due 4/15/28 | 105,000 | 105,163 | ||||||
| Lamar Media Corp. | ||||||||
| 4.000%, due 2/15/30 | 75,000 | 71,540 | ||||||
| 4.875%, due 1/15/29 | 300,000 | 295,644 | ||||||
| 5.375%, due 11/1/33 | 75,000 | 72,882 | ||||||
| Outfront Media Capital LLC / Outfront Media Capital Corp. | ||||||||
| 4.625%, due 3/15/30 | 150,000 | 144,870 | ||||||
| 6.000%, due 6/15/34 | 100,000 | 98,750 | ||||||
| 788,849 | ||||||||
| Aerospace & Defense — 0.6% | ||||||||
| AAR Escrow Issuer LLC | ||||||||
| 6.750%, due 3/15/29 | 140,000 | 143,019 | ||||||
| TransDigm, Inc. | ||||||||
| 6.000%, due 1/15/33 | 100,000 | 99,989 | ||||||
| 6.125%, due 7/31/34 | 150,000 | 148,315 | ||||||
| 6.375%, due 5/31/33 | 300,000 | 299,924 | ||||||
| 6.750%, due 8/15/28 | 1,000,000 | 1,006,261 | ||||||
| 6.750%, due 1/31/34 | 110,000 | 111,790 | ||||||
| 6.875%, due 12/15/30 | 200,000 | 205,015 | ||||||
| 7.125%, due 12/1/31 | 265,000 | 273,332 | ||||||
| 2,287,645 | ||||||||
| Agriculture — 0.1% | ||||||||
| Darling Ingredients, Inc. | ||||||||
| 6.000%, due 6/15/30 | 200,000 | 200,897 | ||||||
| Airlines — 0.7% | ||||||||
| American Airlines Class B Pass Through Trust | ||||||||
| Series 2021-1, B | ||||||||
| 3.950%, due 7/11/30 | 188,800 | 179,373 | ||||||
| American Airlines, Inc./AAdvantage Loyalty IP Ltd. | ||||||||
| 5.750%, due 4/20/29 | 13,750 | 13,674 | ||||||
| British Airways Class A Pass Through Trust, (United Kingdom) | ||||||||
| Series 2021-1, A | ||||||||
| 2.900%, due 3/15/35 | 742,449 | 673,121 | ||||||
| Delta Air Lines, Inc. / SkyMiles IP Ltd. | ||||||||
| 4.750%, due 10/20/28 | 791,250 | 789,891 | ||||||
| JetBlue Class AA Pass Through Trust | ||||||||
| Series 2019-1, AA | ||||||||
| 2.750%, due 5/15/32 | 674,323 | 593,063 | ||||||
| United Airlines Class A Pass Through Trust | ||||||||
| Series 20-1, A | ||||||||
| 5.875%, due 10/15/27 | 158,736 | 160,335 | ||||||
| United Airlines Holdings, Inc. | ||||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Airlines (continued) | ||||||||
| 5.375%, due 3/1/31 | $ | 75,000 | $ | 74,017 | ||||
| 2,483,474 | ||||||||
| Apparel — 0.0%(b) | ||||||||
| William Carter Co. (The) | ||||||||
| 7.375%, due 2/15/31 | 90,000 | 92,287 | ||||||
| Auto Manufacturers — 1.1% | ||||||||
| American Honda Finance Corp. | ||||||||
| 5.150%, due 7/9/32 | 715,000 | 709,484 | ||||||
| Ford Motor Credit Co. LLC | ||||||||
| 4.125%, due 8/17/27 | 760,000 | 754,078 | ||||||
| 6.054%, due 11/5/31 | 345,000 | 346,973 | ||||||
| 7.200%, due 6/10/30 | 390,000 | 408,087 | ||||||
| General Motors Financial Co., Inc. | ||||||||
| 2.350%, due 1/8/31 | 640,000 | 568,654 | ||||||
| JB Poindexter & Co., Inc. | ||||||||
| 8.750%, due 12/15/31 | 325,000 | 334,867 | ||||||
| Toyota Motor Credit Corp. | ||||||||
| Series B | ||||||||
| 4.600%, due 3/11/33 | 430,000 | 415,786 | ||||||
| Volkswagen Group of America Finance LLC, (Germany) | ||||||||
| 5.650%, due 3/25/32 | 705,000 | 708,172 | ||||||
| 4,246,101 | ||||||||
| Auto Parts & Equipment — 0.7% | ||||||||
| American Axle & Manufacturing, Inc. | ||||||||
| 7.750%, due 10/15/33 | 65,000 | 64,007 | ||||||
| Cooper-Standard Automotive, Inc. | ||||||||
| 9.250%, due 3/1/31 | 140,000 | 142,501 | ||||||
| Cyprium Corp. / Cyprium Holdings Luxembourg SARL | ||||||||
| 6.125%, due 4/15/31 | 100,000 | 99,113 | ||||||
| 6.375%, due 4/15/34 | 95,000 | 93,593 | ||||||
| Dorman Products, Inc. | ||||||||
| 6.250%, due 6/15/34 | 75,000 | 75,214 | ||||||
| Garrett Motion Holdings, Inc. / Garrett LX I Sarl | ||||||||
| 7.750%, due 5/31/32 | 105,000 | 109,142 | ||||||
| Goodyear Tire & Rubber Co. (The) | ||||||||
| 8.875%, due 7/15/32 | 25,000 | 25,659 | ||||||
| IHO Verwaltungs GmbH, (Germany) | ||||||||
| 6.375%, due 5/15/29 | 200,000 | 201,288 | ||||||
| 7.375%, due 5/15/33 | 275,000 | 285,043 | ||||||
| 7.750%, due 11/15/30 | 500,000 | 518,233 | ||||||
| 8.000%, due 11/15/32 | 200,000 | 210,011 | ||||||
| Realtruck Group, Inc. | ||||||||
| 6.250%, due 7/31/31 | 171,000 | 29,978 | ||||||
| Tenneco, Inc. | ||||||||
| 8.000%, due 11/17/28 | 375,000 | 375,941 | ||||||
| ZF North America Capital, Inc., (Germany) | ||||||||
| 7.500%, due 3/24/31 | 255,000 | 256,778 | ||||||
| 2,486,501 | ||||||||
| Banks — 5.4% | ||||||||
| Australia & New Zealand Banking Group Ltd., (Australia) | ||||||||
| 5.731%, (5 Year US CMT T-Note + 1.62%), due 9/18/34(a) | 610,000 | 618,381 | ||||||
| Banco Santander SA, (Spain) | ||||||||
| 2.749%, due 12/3/30 | 200,000 | 180,218 | ||||||
| Bank of America Corp. | ||||||||
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Banks (continued) | ||||||||
| 2.572%, (SOFR + 1.21%), due 10/20/32(a) | $ | 815,000 | $ | 718,498 | ||||
| 2.687%, (SOFR + 1.32%), due 4/22/32(a) | 605,000 | 542,663 | ||||||
| Barclays PLC, (United Kingdom) | ||||||||
| 4.375%, (5 Year US CMT T-Note + 3.41%), due 12/15/74(a) | 670,000 | 651,111 | ||||||
| 4.911%, (SOFR + 0.91%), due 6/26/30(a) | 575,000 | 567,683 | ||||||
| 5.207%, (SOFR + 1.51%), due 2/24/37(a) | 215,000 | 204,585 | ||||||
| 5.367%, (SOFR + 1.23%), due 2/25/31(a) | 400,000 | 402,250 | ||||||
| 8.000%, (5 Year US CMT T-Note + 5.43%), due 12/15/74(a) | 195,000 | 205,146 | ||||||
| BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico, (Mexico) | ||||||||
| 5.400%, due 6/3/31 | 915,000 | 908,412 | ||||||
| BNP Paribas SA, (France) | ||||||||
| 3.052%, (SOFR + 1.51%), due 1/13/31(a) | 440,000 | 410,927 | ||||||
| 4.625%, (5 Year US CMT T-Note + 3.20%), due 7/12/74(a) | 350,000 | 347,998 | ||||||
| Citigroup, Inc. | ||||||||
| 2.520%, (SOFR + 1.18%), due 11/3/32(a) | 560,000 | 490,796 | ||||||
| Citizens Financial Group, Inc. | ||||||||
| 3.250%, due 4/30/30 | 445,000 | 418,121 | ||||||
| 5.299%, (5 Year US CMT T-Note + 1.45%), due 1/29/36(a) | 695,000 | 680,404 | ||||||
| Deutsche Bank AG, (Germany) | ||||||||
| 4.725%, (SOFR + 1.14%), due 2/6/32(a)(d) | 580,000 | 565,184 | ||||||
| Deutsche Bank AG/New York NY, (Germany) | ||||||||
| 3.729%, (SOFR + 2.76%), due 1/14/32(a) | 570,000 | 526,753 | ||||||
| First Horizon Bank | ||||||||
| 5.750%, due 5/1/30 | 811,000 | 815,681 | ||||||
| First Horizon Corp. | ||||||||
| 5.514%, (SOFR + 1.77%), due 3/7/31(a) | 600,000 | 602,337 | ||||||
| Huntington Bancshares, Inc. | ||||||||
| 5.605%, (5 Year US CMT T-Note + 1.35%), due 1/28/41(a) | 390,000 | 373,845 | ||||||
| 6.141%, (5 Year US CMT T-Note + 1.70%), due 11/18/39(a) | 755,000 | 756,109 | ||||||
| Keybank National Association | ||||||||
| 4.900%, due 8/8/32 | 720,000 | 698,443 | ||||||
| Lloyds Banking Group PLC, (United Kingdom) | ||||||||
| 4.976%, (1 yr. US Treasury Yield Curve Rate T Note Constant Maturity + 2.30%), due 8/11/33(a) | 305,000 | 300,164 | ||||||
| M&T Bank Corp. | ||||||||
| 5.295%, (5 Year US CMT T-Note + 1.38%), due 4/18/36(a) | 710,000 | 697,378 | ||||||
| 5.385%, (SOFR + 1.61%), due 1/16/36(a) | 430,000 | 421,128 | ||||||
| Morgan Stanley | ||||||||
| 2.484%, (SOFR + 1.36%), due 9/16/36(a) | 1,050,000 | 901,182 | ||||||
| 2.511%, (SOFR + 1.20%), due 10/20/32(a) | 595,000 | 520,143 | ||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Banks (continued) | ||||||||
| Santander Holdings USA, Inc. | ||||||||
| 6.499%, (SOFR + 2.36%), due 3/9/29(a) | $ | 855,000 | $ | 874,908 | ||||
| Societe Generale SA, (France) | ||||||||
| 2.889%, (1 yr. US Treasury Yield Curve Rate T Note Constant Maturity + 1.30%), due 6/9/32(a) | 470,000 | 418,946 | ||||||
| 5.375%, (5 Year US CMT T-Note + 4.51%), due 5/18/75(a) | 675,000 | 641,036 | ||||||
| UBS Group AG, (Switzerland) | ||||||||
| 4.875%, (5 Year US CMT T-Note + 3.40%), due 8/12/74(a) | 150,000 | 149,468 | ||||||
| UniCredit SpA, (Italy) | ||||||||
| 5.861%, (USD 5 Year Swap + 3.70%), due 6/19/32(a) | 1,175,000 | 1,179,797 | ||||||
| USB Realty Corp. | ||||||||
| 5.162%, (3 Month CME SOFR + 1.41%), due 4/15/75(a) | 480,000 | 429,387 | ||||||
| Valley National Bancorp | ||||||||
| 6.219%, (3 Month CME SOFR + 2.43%), due 6/1/36(a) | 540,000 | 534,355 | ||||||
| Western Alliance Bank | ||||||||
| 6.537%, (5 Year US CMT T-Note + 2.85%), due 11/15/35(a) | 425,000 | 419,394 | ||||||
| Westpac Banking Corp., (Australia) | ||||||||
| 3.020%, (5 Year US CMT T-Note + 1.53%), due 11/18/36(a) | 975,000 | 862,805 | ||||||
| 20,035,636 | ||||||||
| Biotechnology — 0.3% | ||||||||
| Amgen, Inc. | ||||||||
| 5.750%, due 3/2/63 | 725,000 | 669,184 | ||||||
| BioMarin Pharmaceutical, Inc. | ||||||||
| 5.500%, due 2/15/34 | 125,000 | 121,946 | ||||||
| GENMAB A/S/GENMAB FINANCE LLC, (Denmark) | ||||||||
| 6.250%, due 12/15/32 | 215,000 | 216,968 | ||||||
| 7.250%, due 12/15/33 | 200,000 | 206,221 | ||||||
| 1,214,319 | ||||||||
| Building Materials — 0.5% | ||||||||
| Builders FirstSource, Inc. | ||||||||
| 5.000%, due 3/1/30 | 100,000 | 96,912 | ||||||
| 6.375%, due 3/1/34 | 100,000 | 98,124 | ||||||
| EMRLD Borrower LP / Emerald Co.-Issuer, Inc. | ||||||||
| 6.625%, due 12/15/30 | 375,000 | 381,149 | ||||||
| JH North America Holdings, Inc. | ||||||||
| 5.875%, due 1/31/31 | 200,000 | 199,567 | ||||||
| Knife River Corp. | ||||||||
| 7.750%, due 5/1/31 | 400,000 | 412,609 | ||||||
| Quikrete Holdings, Inc. | ||||||||
| 6.375%, due 3/1/32 | 340,000 | 344,150 | ||||||
| 6.750%, due 3/1/33 | 175,000 | 177,314 | ||||||
| 1,709,825 | ||||||||
| Chemicals — 0.7% | ||||||||
| ASP Unifrax Holdings, Inc. | ||||||||
| 10.425%, due 9/30/29 | 108,611 | 38,014 | ||||||
| Celanese U.S. Holdings LLC | ||||||||
| 7.330%, due 7/15/29 | 100,000 | 103,955 | ||||||
| 7.350%, due 11/15/28(d) | 113,000 | 117,234 | ||||||
| 7.550%, due 11/15/30 | 120,000 | 126,320 | ||||||
| 7.700%, due 11/15/33 | 100,000 | 105,854 | ||||||
| Eastman Chemical Co. | ||||||||
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Chemicals (continued) | ||||||||
| 4.500%, due 2/20/31 | $ | 415,000 | $ | 403,311 | ||||
| GPD Cos., Inc. | ||||||||
| 12.500%, due 12/31/29 | 133,226 | 85,452 | ||||||
| Innophos Holdings, Inc. | ||||||||
| 11.500%, due 6/15/29 | 320,000 | 300,800 | ||||||
| NOVA Chemicals Corp., (Canada) | ||||||||
| 8.500%, due 11/15/28 | 300,000 | 309,301 | ||||||
| Olympus Water U.S. Holding Corp. | ||||||||
| 7.250%, due 2/15/33 | 90,000 | 88,161 | ||||||
| Perimeter Holdings LLC | ||||||||
| 6.250%, due 1/15/34 | 185,000 | 181,615 | ||||||
| Qnity Electronics, Inc. | ||||||||
| 5.750%, due 8/15/32 | 175,000 | 173,755 | ||||||
| 6.250%, due 8/15/33 | 75,000 | 75,349 | ||||||
| SK Invictus Intermediate II Sarl | ||||||||
| 5.000%, due 10/30/29 | 425,000 | 415,013 | ||||||
| Solstice Advanced Materials, Inc. | ||||||||
| 5.625%, due 9/30/33 | 165,000 | 161,343 | ||||||
| 2,685,477 | ||||||||
| Coal — 0.1% | ||||||||
| Alliance Resource Operating Partners LP / Alliance Resource Finance Corp. | ||||||||
| 8.625%, due 6/15/29 | 175,000 | 182,581 | ||||||
| Commercial Services — 1.7% | ||||||||
| APi Group DE, Inc. | ||||||||
| 4.125%, due 7/15/29 | 80,000 | 76,791 | ||||||
| Belron UK Finance PLC, (United Kingdom) | ||||||||
| 5.750%, due 10/15/29 | 200,000 | 199,937 | ||||||
| Block, Inc. | ||||||||
| 5.625%, due 8/15/30 | 85,000 | 84,565 | ||||||
| 6.000%, due 8/15/33 | 100,000 | 99,169 | ||||||
| 6.500%, due 5/15/32 | 300,000 | 303,091 | ||||||
| Carrix, Inc. | ||||||||
| 6.125%, due 8/1/33 | 145,000 | 144,330 | ||||||
| Clarivate Science Holdings Corp. | ||||||||
| 3.875%, due 7/1/28 | 300,000 | 289,845 | ||||||
| 4.875%, due 7/1/29 | 445,000 | 409,763 | ||||||
| CompoSecure Holdings LLC | ||||||||
| 5.625%, due 2/1/33 | 175,000 | 168,211 | ||||||
| Dcli Bidco LLC | ||||||||
| 7.750%, due 11/15/29 | 85,000 | 87,317 | ||||||
| DP World Ltd., (United Arab Emirates) | ||||||||
| 6.850%, due 7/2/37 | 1,120,000 | 1,157,377 | ||||||
| Global Payments, Inc. | ||||||||
| 4.875%, due 11/15/30 | 535,000 | 520,401 | ||||||
| Graham Holdings Co. | ||||||||
| 5.625%, due 12/1/33 | 350,000 | 341,578 | ||||||
| Kaspi.KZ JSC, (Kazakhstan) | ||||||||
| 6.250%, due 3/26/30(d) | 550,000 | 552,957 | ||||||
| Korn Ferry | ||||||||
| 4.625%, due 12/15/27 | 175,000 | 173,937 | ||||||
| NES Fircroft Bondco A/S, (United Kingdom) | ||||||||
| 8.000%, due 9/30/29 | 125,000 | 130,326 | ||||||
| 10.000%, due 8/13/31 | 125,000 | 126,797 | ||||||
| NESCO Holdings II, Inc. | ||||||||
| 5.500%, due 4/15/29 | 150,000 | 148,930 | ||||||
| OT Midco, Inc. | ||||||||
| 10.000%, due 2/15/30 | 125,000 | 46,875 | ||||||
| Raven Acquisition Holdings LLC | ||||||||
| 6.875%, due 11/15/31 | 75,000 | 72,967 | ||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Commercial Services (continued) | ||||||||
| Synergy Infrastructure Holdings LLC | ||||||||
| 7.000%, due 7/15/34 | $ | 30,000 | $ | 30,264 | ||||
| TriNet Group, Inc. | ||||||||
| 3.500%, due 3/1/29 | 200,000 | 188,774 | ||||||
| United Rentals North America, Inc. | ||||||||
| 3.875%, due 2/15/31 | 100,000 | 93,475 | ||||||
| 4.875%, due 1/15/28 | 350,000 | 348,617 | ||||||
| 5.375%, due 11/15/33 | 120,000 | 116,845 | ||||||
| Williams Scotsman, Inc. | ||||||||
| 4.625%, due 8/15/28 | 150,000 | 148,168 | ||||||
| 6.625%, due 6/15/29 | 200,000 | 203,379 | ||||||
| 6.625%, due 4/15/30 | 50,000 | 51,125 | ||||||
| 6,315,811 | ||||||||
| Computers — 0.2% | ||||||||
| Amentum Holdings, Inc. | ||||||||
| 7.250%, due 8/1/32 | 250,000 | 256,848 | ||||||
| CACI International, Inc. | ||||||||
| 6.375%, due 6/15/33 | 250,000 | 251,935 | ||||||
| Dell International LLC / EMC Corp. | ||||||||
| 3.375%, due 12/15/41 | 340,000 | 249,176 | ||||||
| Insight Enterprises, Inc. | ||||||||
| 6.625%, due 5/15/32 | 20,000 | 20,112 | ||||||
| 778,071 | ||||||||
| Cosmetics/Personal Care — 0.6% | ||||||||
| Coty, Inc. /HFC Prestige Products, Inc./HFC Prestige International U.S. LLC | ||||||||
| 4.750%, due 1/15/29 | 1,420,000 | 1,394,402 | ||||||
| Edgewell Personal Care Co. | ||||||||
| 5.500%, due 6/1/28 | 300,000 | 299,147 | ||||||
| Perrigo Finance Unlimited Co. | ||||||||
| Series USD | ||||||||
| 6.125%, due 9/30/32 | 170,000 | 161,513 | ||||||
| Prestige Brands, Inc. | ||||||||
| 3.750%, due 4/1/31 | 350,000 | 320,908 | ||||||
| 6.250%, due 7/15/34 | 85,000 | 85,240 | ||||||
| 2,261,210 | ||||||||
| Distribution/Wholesale — 0.3% | ||||||||
| ADI Escrow Issuer LLC | ||||||||
| 7.125%, due 7/15/34 | 100,000 | 101,944 | ||||||
| Core & Main LP | ||||||||
| 6.000%, due 7/1/34 | 145,000 | 144,190 | ||||||
| Gates Corp. | ||||||||
| 6.875%, due 7/1/29 | 200,000 | 204,025 | ||||||
| RB Global Holdings Inc, (Canada) | ||||||||
| 7.750%, due 3/15/31 | 500,000 | 515,976 | ||||||
| Velocity Vehicle Group LLC | ||||||||
| 8.000%, due 6/1/29 | 140,000 | 138,748 | ||||||
| 1,104,883 | ||||||||
| Diversified Financial Services — 2.5% | ||||||||
| Aircastle Ltd. / Aircastle Ireland DAC | ||||||||
| 5.000%, due 9/15/30 | 525,000 | 518,756 | ||||||
| Ally Financial, Inc. | ||||||||
| 5.548%, (SOFR + 1.78%), due 7/31/33(a) | 630,000 | 620,707 | ||||||
| Series C | ||||||||
| 4.700%, (7 yr. US Treasury Yield Curve Rate T Note Constant Maturity + 3.48%), due 8/15/74(a)(d) | 330,000 | 318,850 | ||||||
| Aretec Group, Inc. | ||||||||
| 7.500%, due 4/1/29 | 110,000 | 109,713 | ||||||
| 10.000%, due 8/15/30 | 250,000 | 263,717 | ||||||
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Diversified Financial Services (continued) | ||||||||
| Avolon Holdings Funding Ltd., (Ireland) | ||||||||
| 4.700%, due 1/30/31 | $ | 390,000 | $ | 379,790 | ||||
| 5.750%, due 11/15/29 | 890,000 | 904,431 | ||||||
| Cantor Fitzgerald LP | ||||||||
| 7.200%, due 12/12/28 | 490,000 | 507,160 | ||||||
| Capital One Financial Corp. | ||||||||
| 4.722%, (SOFR + 1.15%), due 1/30/32(a) | 470,000 | 459,597 | ||||||
| First Eagle Holdings, Inc. | ||||||||
| 7.250%, due 8/15/32 | 150,000 | 151,751 | ||||||
| Jane Street Group / JSG Finance, Inc. | ||||||||
| 6.125%, due 11/1/32 | 250,000 | 248,750 | ||||||
| 6.750%, due 5/1/33 | 100,000 | 101,912 | ||||||
| 7.125%, due 4/30/31 | 550,000 | 567,613 | ||||||
| Macquarie Airfinance Holdings Ltd., (United Kingdom) | ||||||||
| 6.400%, due 3/26/29 | 850,000 | 872,507 | ||||||
| Osaic Holdings, Inc. | ||||||||
| 6.750%, due 8/1/32 | 210,000 | 210,751 | ||||||
| 8.000%, due 8/1/33 | 75,000 | 76,103 | ||||||
| PennyMac Financial Services, Inc. | ||||||||
| 4.250%, due 2/15/29 | 250,000 | 236,922 | ||||||
| 5.750%, due 9/15/31 | 100,000 | 92,693 | ||||||
| 6.750%, due 2/15/34 | 50,000 | 46,376 | ||||||
| Planet Financial Group LLC | ||||||||
| 10.500%, due 12/15/29 | 100,000 | 97,571 | ||||||
| Provident Funding Associates LP / PFG Finance Corp. | ||||||||
| 9.750%, due 9/15/29 | 100,000 | 103,252 | ||||||
| Rocket Cos., Inc. | ||||||||
| 6.125%, due 8/1/30 | 285,000 | 287,310 | ||||||
| 6.125%, due 8/1/31 | 80,000 | 80,364 | ||||||
| 6.375%, due 8/1/33 | 125,000 | 125,743 | ||||||
| 6.500%, due 6/15/34 | 100,000 | 100,790 | ||||||
| Stonex Escrow Issuer LLC | ||||||||
| 6.875%, due 7/15/32 | 180,000 | 182,711 | ||||||
| StoneX Group, Inc. | ||||||||
| 7.875%, due 3/1/31 | 400,000 | 416,606 | ||||||
| Synchrony Financial | ||||||||
| 5.450%, (SOFR + 1.68%), due 3/6/31(a) | 850,000 | 846,898 | ||||||
| Series C | ||||||||
| 7.250%, (5 Year US CMT T-Note + 3.08%), due 8/15/74(a) | 410,000 | 403,256 | ||||||
| WS Escrow LLC | ||||||||
| 7.750%, due 6/1/33 | 35,000 | 36,213 | ||||||
| 9,368,813 | ||||||||
| Electric — 3.9% | ||||||||
| AEP Texas, Inc. | ||||||||
| 3.450%, due 5/15/51 | 745,000 | 475,540 | ||||||
| 5.850%, due 10/15/55 | 255,000 | 236,955 | ||||||
| Alpha Generation LLC | ||||||||
| 6.750%, due 10/15/32 | 225,000 | 226,962 | ||||||
| Arizona Public Service Co. | ||||||||
| 5.700%, due 8/15/34 | 575,000 | 583,314 | ||||||
| 6.350%, due 12/15/32 | 665,000 | 701,669 | ||||||
| Baltimore Gas and Electric Co. | ||||||||
| 4.550%, due 6/1/52 | 720,000 | 566,879 | ||||||
| Black Hills Corp. | ||||||||
| 4.550%, due 1/31/31 | 950,000 | 925,811 | ||||||
| Clearway Energy Operating LLC | ||||||||
| 3.750%, due 2/15/31 | 100,000 | 91,730 | ||||||
| 4.750%, due 3/15/28 | 425,000 | 419,438 | ||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Electric (continued) | ||||||||
| 5.750%, due 1/15/34 | $ | 100,000 | $ | 96,425 | ||||
| Edison International | ||||||||
| 5.250%, due 3/15/32 | 850,000 | 831,580 | ||||||
| 7.875%, (5 Year US CMT T-Note + 3.66%), due 6/15/54(a) | 335,000 | 345,707 | ||||||
| Electricite de France SA, (France) | ||||||||
| 9.125%, (5 Year US CMT T-Note + 5.41%), due 12/31/49(a) | 125,000 | 144,740 | ||||||
| EUSHI Finance, Inc. | ||||||||
| 6.250%, (5 Year US CMT T-Note + 2.51%), due 4/1/56(a) | 160,000 | 157,938 | ||||||
| Evergy Kansas Central, Inc. | ||||||||
| 5.250%, due 3/15/35 | 1,250,000 | 1,231,775 | ||||||
| 5.300%, due 7/1/36 | 635,000 | 624,420 | ||||||
| Evergy Missouri West, Inc. | ||||||||
| 5.250%, due 12/15/35 | 245,000 | 238,648 | ||||||
| Indianapolis Power & Light Co. | ||||||||
| 5.650%, due 12/1/32 | 370,000 | 379,302 | ||||||
| Leeward Renewable Energy Operations LLC | ||||||||
| 4.250%, due 7/1/29 | 85,000 | 80,669 | ||||||
| NRG Energy, Inc. | ||||||||
| 5.407%, due 10/15/35 | 340,000 | 325,449 | ||||||
| 5.750%, due 1/15/28 | 200,000 | 200,089 | ||||||
| 5.750%, due 1/15/34 | 135,000 | 131,477 | ||||||
| 5.875%, due 5/15/34 | 100,000 | 98,170 | ||||||
| 6.000%, due 2/1/33 | 250,000 | 249,248 | ||||||
| 6.000%, due 1/15/36 | 220,000 | 215,242 | ||||||
| 6.125%, due 5/15/36 | 150,000 | 148,066 | ||||||
| 6.250%, due 11/1/34 | 75,000 | 74,802 | ||||||
| PacifiCorp | ||||||||
| 7.125%, (5 Year US CMT T-Note + 3.29%), due 8/15/56(a) | 155,000 | 152,604 | ||||||
| 7.375%, (5 Year US CMT T-Note + 3.32%), due 9/15/55(a) | 250,000 | 248,647 | ||||||
| Pattern Energy Operations LP / Pattern Energy Operations, Inc. | ||||||||
| 4.500%, due 8/15/28 | 75,000 | 73,239 | ||||||
| PG&E Corp. | ||||||||
| 6.850%, (5 Year US CMT T-Note + 3.23%), due 9/15/56(a) | 85,000 | 84,113 | ||||||
| 7.375%, (5 Year US CMT T-Note + 3.88%), due 3/15/55(a) | 150,000 | 152,313 | ||||||
| Puget Energy, Inc. | ||||||||
| 4.224%, due 3/15/32 | 855,000 | 811,427 | ||||||
| Southern California Edison Co. | ||||||||
| 5.700%, due 3/1/53 | 270,000 | 239,523 | ||||||
| Talen Energy Supply LLC | ||||||||
| 6.125%, due 5/1/31 | 330,000 | 328,034 | ||||||
| 6.250%, due 2/1/34 | 325,000 | 318,764 | ||||||
| 6.375%, due 5/1/33 | 250,000 | 246,201 | ||||||
| 6.500%, due 2/1/36 | 150,000 | 148,129 | ||||||
| TransAlta Corp., (Canada) | ||||||||
| 5.875%, due 2/1/34 | 140,000 | 136,478 | ||||||
| Virginia Electric and Power Co. | ||||||||
| Series C | ||||||||
| 4.625%, due 5/15/52 | 500,000 | 397,954 | ||||||
| Vistra Corp. | ||||||||
| 8.000%, (5 Year US CMT T-Note + 6.93%), due 4/15/75(a) | 200,000 | 200,917 | ||||||
| Vistra Operations Co. LLC | ||||||||
| 5.250%, due 4/30/33 | 390,000 | 381,316 | ||||||
| 6.875%, due 4/15/32 | 100,000 | 103,289 | ||||||
| VoltaGrid LLC | ||||||||
| 7.375%, due 11/1/30 | 175,000 | 175,870 | ||||||
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Electric (continued) | ||||||||
| XPLR Infrastructure Operating Partners LP | ||||||||
| 4.500%, due 9/15/27 | $ | 50,000 | $ | 49,425 | ||||
| 7.250%, due 1/15/29 | 100,000 | 103,129 | ||||||
| 7.750%, due 4/15/34 | 50,000 | 52,361 | ||||||
| 8.375%, due 1/15/31 | 90,000 | 95,654 | ||||||
| 8.625%, due 3/15/33 | 75,000 | 80,129 | ||||||
| Zorlu Enerji Elektrik Uretim A/S, (Turkey) | ||||||||
| 11.000%, due 4/23/30 | 420,000 | 311,805 | ||||||
| 14,693,366 | ||||||||
| Electrical Components & Equipment — 0.2% | ||||||||
| EnerSys | ||||||||
| 6.625%, due 1/15/32 | 210,000 | 212,511 | ||||||
| WESCO Distribution, Inc. | ||||||||
| 5.250%, due 4/15/31 | 245,000 | 240,919 | ||||||
| 5.500%, due 4/15/34 | 55,000 | 53,430 | ||||||
| 6.625%, due 3/15/32 | 150,000 | 153,035 | ||||||
| 659,895 | ||||||||
| Electronics — 0.1% | ||||||||
| Amphenol Corp. | ||||||||
| 5.300%, due 11/15/55 | 75,000 | 67,665 | ||||||
| Sensata Technologies BV | ||||||||
| 5.875%, due 9/1/30 | 350,000 | 350,288 | ||||||
| 417,953 | ||||||||
| Engineering & Construction — 0.2% | ||||||||
| AECOM | ||||||||
| 6.000%, due 8/1/33 | 120,000 | 119,315 | ||||||
| Granite Construction, Inc. | ||||||||
| 6.375%, due 6/15/34 | 150,000 | 149,571 | ||||||
| Weekley Homes LLC / Weekley Finance Corp. | ||||||||
| 4.875%, due 9/15/28 | 200,000 | 196,551 | ||||||
| 6.750%, due 1/15/34 | 140,000 | 139,988 | ||||||
| 605,425 | ||||||||
| Entertainment — 0.8% | ||||||||
| Caesars Entertainment, Inc. | ||||||||
| 4.625%, due 10/15/29 | 75,000 | 71,268 | ||||||
| 6.000%, due 10/15/32 | 150,000 | 131,560 | ||||||
| Churchill Downs, Inc. | ||||||||
| 5.500%, due 4/1/27 | 375,000 | 375,204 | ||||||
| 5.750%, due 4/1/30 | 400,000 | 398,817 | ||||||
| Flutter Treasury DAC, (United Kingdom) | ||||||||
| 5.875%, due 6/4/31 | 200,000 | 197,025 | ||||||
| Jacobs Entertainment, Inc. | ||||||||
| 6.750%, due 2/15/29 | 225,000 | 220,781 | ||||||
| Light & Wonder International, Inc. | ||||||||
| 6.250%, due 10/1/33 | 110,000 | 108,075 | ||||||
| 7.500%, due 9/1/31 | 200,000 | 206,012 | ||||||
| Live Nation Entertainment, Inc. | ||||||||
| 4.750%, due 10/15/27 | 500,000 | 497,426 | ||||||
| Merlin Entertainments Group U.S. Holdings, Inc., (United Kingdom) | ||||||||
| 7.375%, due 2/15/31 | 200,000 | 156,652 | ||||||
| Motion Bondco DAC, (United Kingdom) | ||||||||
| 6.625%, due 11/15/27 | 140,000 | 132,895 | ||||||
| Rivers Enterprise Borrower LLC | ||||||||
| 6.250%, due 10/15/30 | 215,000 | 215,953 | ||||||
| Rivers Enterprise Borrower LLC / Rivers Enterprise Finance Corp. | ||||||||
| 6.625%, due 2/1/33 | 125,000 | 125,776 | ||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Entertainment (continued) | ||||||||
| Vail Resorts, Inc. | ||||||||
| 6.500%, due 5/15/32 | $ | 100,000 | $ | 101,250 | ||||
| Voyager Parent LLC | ||||||||
| 9.250%, due 7/1/32 | 167,000 | 177,434 | ||||||
| 3,116,128 | ||||||||
| Environmental Control — 0.1% | ||||||||
| Clean Harbors, Inc. | ||||||||
| 6.375%, due 2/1/31 | 150,000 | 151,539 | ||||||
| Luna 1.5 SARL, (Luxembourg) | ||||||||
| 12.000%, due 7/1/32 | 58,506 | 62,141 | ||||||
| Waste Pro USA, Inc. | ||||||||
| 7.000%, due 2/1/33 | 150,000 | 152,030 | ||||||
| 365,710 | ||||||||
| Food — 1.2% | ||||||||
| Albertsons Cos, Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC | ||||||||
| 5.625%, due 3/31/32 | 50,000 | 47,560 | ||||||
| Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC | ||||||||
| 5.500%, due 3/31/31 | 100,000 | 96,087 | ||||||
| 5.750%, due 3/31/34 | 75,000 | 69,731 | ||||||
| C&S Group Enterprises LLC | ||||||||
| 5.000%, due 12/15/28 | 85,000 | 78,183 | ||||||
| Chobani LLC / Chobani Finance Corp., Inc. | ||||||||
| 6.375%, due 4/15/34 | 100,000 | 100,256 | ||||||
| Grupo Nutresa SA, (Colombia) | ||||||||
| 8.000%, due 5/12/30 | 200,000 | 210,900 | ||||||
| Industrial F&B Investments III, Inc. | ||||||||
| 7.750%, due 2/11/33 | 230,000 | 233,520 | ||||||
| MARB BondCo PLC, (Brazil) | ||||||||
| 3.950%, due 1/29/31 | 1,010,000 | 888,046 | ||||||
| Performance Food Group, Inc. | ||||||||
| 4.250%, due 8/1/29 | 250,000 | 241,695 | ||||||
| 5.625%, due 3/1/34 | 125,000 | 121,250 | ||||||
| 6.125%, due 9/15/32 | 80,000 | 80,226 | ||||||
| Post Holdings, Inc. | ||||||||
| 4.625%, due 4/15/30 | 275,000 | 264,895 | ||||||
| 6.250%, due 10/15/34 | 110,000 | 106,949 | ||||||
| 6.500%, due 3/15/36 | 50,000 | 48,770 | ||||||
| Simmons Foods Inc/Simmons Prepared Foods, Inc. /Simmons Pet Food, Inc./Simmons Feed | ||||||||
| 4.625%, due 3/1/29 | 360,000 | 347,983 | ||||||
| Smithfield Foods, Inc. | ||||||||
| 3.000%, due 10/15/30 | 170,000 | 154,432 | ||||||
| 4.250%, due 2/1/27 | 715,000 | 711,727 | ||||||
| United Natural Foods, Inc. | ||||||||
| 6.750%, due 10/15/28 | 107,000 | 107,000 | ||||||
| US Foods, Inc. | ||||||||
| 4.625%, due 6/1/30 | 100,000 | 97,162 | ||||||
| 4.750%, due 2/15/29 | 150,000 | 147,801 | ||||||
| 7.250%, due 1/15/32 | 250,000 | 258,311 | ||||||
| Viking Baked Goods Acquisition Corp. | ||||||||
| 8.625%, due 11/1/31 | 90,000 | 90,333 | ||||||
| Series JUL | ||||||||
| 8.625%, due 11/1/31 | 65,000 | 65,240 | ||||||
| 4,568,057 | ||||||||
| Forest Products & Paper — 0.3% | ||||||||
| Mercer International, Inc., (Germany) | ||||||||
| 5.125%, due 2/1/29 | 395,000 | 230,372 | ||||||
| Suzano Austria GmbH, (Brazil) | ||||||||
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Forest Products & Paper (continued) | ||||||||
| 4.000%, due 1/15/31 | $ | 1,055,000 | $ | 986,032 | ||||
| 1,216,404 | ||||||||
| Gas — 0.6% | ||||||||
| AltaGas Ltd., (Canada) | ||||||||
| 7.200%, (5 Year US CMT T-Note + 3.57%), due 10/15/54(a) | 200,000 | 206,881 | ||||||
| Boston Gas Co. | ||||||||
| 3.757%, due 3/16/32 | 275,000 | 254,423 | ||||||
| Brooklyn Union Gas Co. (The) | ||||||||
| 4.866%, due 8/5/32 | 910,000 | 883,880 | ||||||
| 6.388%, due 9/15/33 | 225,000 | 235,397 | ||||||
| Southern California Gas Co. | ||||||||
| 6.000%, due 6/15/55 | 605,000 | 588,280 | ||||||
| 2,168,861 | ||||||||
| Healthcare-Products — 0.1% | ||||||||
| Neogen Food Safety Corp. | ||||||||
| 8.625%, due 7/20/30 | 75,000 | 78,503 | ||||||
| Teleflex, Inc. | ||||||||
| 5.875%, due 1/15/32 | 150,000 | 148,703 | ||||||
| 227,206 | ||||||||
| Healthcare-Services — 0.8% | ||||||||
| Centene Corp. | ||||||||
| 2.450%, due 7/15/28 | 100,000 | 94,917 | ||||||
| 3.000%, due 10/15/30 | 105,000 | 94,358 | ||||||
| 3.375%, due 2/15/30 | 100,000 | 92,489 | ||||||
| 4.250%, due 12/15/27 | 200,000 | 199,243 | ||||||
| 4.625%, due 12/15/29 | 375,000 | 363,801 | ||||||
| DaVita, Inc. | ||||||||
| 3.750%, due 2/15/31 | 100,000 | 92,241 | ||||||
| 4.625%, due 6/1/30 | 200,000 | 192,787 | ||||||
| Encompass Health Corp. | ||||||||
| 4.625%, due 4/1/31 | 100,000 | 96,253 | ||||||
| Global Medical Response, Inc. | ||||||||
| 7.375%, due 10/1/32 | 125,000 | 127,203 | ||||||
| HealthEquity, Inc. | ||||||||
| 4.500%, due 10/1/29 | 125,000 | 121,158 | ||||||
| IQVIA, Inc. | ||||||||
| 6.250%, due 6/1/32 | 240,000 | 243,087 | ||||||
| 6.500%, due 5/15/30 | 85,000 | 86,608 | ||||||
| LifePoint Health, Inc. | ||||||||
| 5.375%, due 1/15/29 | 90,000 | 85,407 | ||||||
| 7.000%, due 5/1/34 | 190,000 | 177,468 | ||||||
| 8.375%, due 2/15/32 | 110,000 | 110,747 | ||||||
| 9.875%, due 8/15/30 | 175,000 | 183,714 | ||||||
| 10.000%, due 6/1/32 | 190,000 | 182,413 | ||||||
| Molina Healthcare, Inc. | ||||||||
| 6.500%, due 2/15/31 | 75,000 | 75,690 | ||||||
| Tenet Healthcare Corp. | ||||||||
| 4.375%, due 1/15/30 | 125,000 | 120,565 | ||||||
| 6.125%, due 6/15/30 | 400,000 | 402,025 | ||||||
| 3,142,174 | ||||||||
| Holding Companies-Divers — 0.2% | ||||||||
| Clue Opco LLC | ||||||||
| 9.500%, due 10/15/31(d) | 135,000 | 131,120 | ||||||
| Stena International SA, (Sweden) | ||||||||
| 7.625%, due 2/15/31 | 750,000 | 773,090 | ||||||
| 904,210 | ||||||||
| Home Builders — 0.3% | ||||||||
| Century Communities, Inc. | ||||||||
| 3.875%, due 8/15/29 | 75,000 | 71,124 | ||||||
| Installed Building Products, Inc. | ||||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Home Builders (continued) | ||||||||
| 5.625%, due 2/1/34 | $ | 110,000 | $ | 106,183 | ||||
| M/I Homes, Inc. | ||||||||
| 3.950%, due 2/15/30 | 75,000 | 70,666 | ||||||
| 4.950%, due 2/1/28 | 75,000 | 74,323 | ||||||
| Mattamy Group Corp., (Canada) | ||||||||
| 4.625%, due 3/1/30 | 100,000 | 95,836 | ||||||
| 6.000%, due 12/15/33 | 155,000 | 147,540 | ||||||
| Shea Homes LP / Shea Homes Funding Corp. | ||||||||
| 4.750%, due 2/15/28 | 100,000 | 98,642 | ||||||
| 4.750%, due 4/1/29 | 150,000 | 145,697 | ||||||
| STL Holding Co. LLC | ||||||||
| 8.750%, due 2/15/29 | 85,000 | 88,173 | ||||||
| Winnebago Industries, Inc. | ||||||||
| 6.250%, due 7/15/28 | 60,000 | 59,925 | ||||||
| 958,109 | ||||||||
| Home Furnishings — 0.0%(b) | ||||||||
| Whirlpool Corp. | ||||||||
| 7.500%, due 7/1/31 | 25,000 | 24,844 | ||||||
| 7.875%, due 7/1/34 | 25,000 | 23,635 | ||||||
| 48,479 | ||||||||
| Housewares — 0.3% | ||||||||
| Central Garden & Pet Co. | ||||||||
| 5.125%, due 2/1/28 | 450,000 | 449,551 | ||||||
| Newell Brands, Inc. | ||||||||
| 6.375%, due 9/15/27 | 150,000 | 150,455 | ||||||
| 6.375%, due 5/15/30(d) | 130,000 | 131,428 | ||||||
| 6.625%, due 5/15/32 | 70,000 | 70,821 | ||||||
| 8.500%, due 6/1/28 | 70,000 | 73,061 | ||||||
| Scotts Miracle-Gro Co. (The) | ||||||||
| 4.000%, due 4/1/31 | 210,000 | 195,149 | ||||||
| 4.375%, due 2/1/32 | 175,000 | 161,843 | ||||||
| 1,232,308 | ||||||||
| Insurance — 0.8% | ||||||||
| Asurion LLC/ Asurion Co-Issuer, Inc. | ||||||||
| 8.000%, due 12/31/32 | 165,000 | 166,918 | ||||||
| 8.375%, due 2/1/34 | 125,000 | 113,888 | ||||||
| Belrose Funding Trust II | ||||||||
| 6.792%, due 5/15/55 | 650,000 | 646,146 | ||||||
| Five Corners Funding Trust III | ||||||||
| 5.791%, due 2/15/33 | 545,000 | 556,005 | ||||||
| HUB International Ltd. | ||||||||
| 7.250%, due 6/15/30 | 225,000 | 231,676 | ||||||
| Jackson Financial, Inc. | ||||||||
| 6.150%, due 1/15/37 | 470,000 | 459,445 | ||||||
| MGIC Investment Corp. | ||||||||
| 5.250%, due 8/15/28 | 250,000 | 249,606 | ||||||
| Prudential Financial, Inc. | ||||||||
| 6.250%, (5 Year US CMT T-Note + 1.78%), due 6/15/56(a) | 460,000 | 455,680 | ||||||
| Ryan Specialty LLC | ||||||||
| 5.875%, due 8/1/32 | 90,000 | 88,762 | ||||||
| USI, Inc. | ||||||||
| 7.500%, due 1/15/32 | 100,000 | 102,059 | ||||||
| 3,070,185 | ||||||||
| Internet — 0.4% | ||||||||
| Amazon.com, Inc. | ||||||||
| 5.100%, due 7/9/33 | 430,000 | 426,005 | ||||||
| Arches Buyer, Inc. | ||||||||
| 4.250%, due 6/1/28 | 80,000 | 77,497 | ||||||
| Cogent Communications Group LLC / Cogent Finance, Inc. | ||||||||
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Internet (continued) | ||||||||
| 6.500%, due 7/1/32 | $ | 35,000 | $ | 31,151 | ||||
| 7.000%, due 6/15/27(d) | 65,000 | 64,078 | ||||||
| Gen Digital, Inc. | ||||||||
| 6.750%, due 9/30/27 | 55,000 | 55,085 | ||||||
| Go Daddy Operating Co LLC / GD Finance Co., Inc. | ||||||||
| 5.250%, due 12/1/27 | 450,000 | 449,249 | ||||||
| Meta Platforms, Inc. | ||||||||
| 5.625%, due 11/15/55 | 300,000 | 250,909 | ||||||
| Photo Holdings LLC | ||||||||
| 12.000%, due 7/1/31 | 195,000 | 200,890 | ||||||
| 1,554,864 | ||||||||
| Investment Companies — 0.1% | ||||||||
| Compass Group Diversified Holdings LLC | ||||||||
| 5.250%, due 4/15/29 | 153,818 | 146,472 | ||||||
| FS KKR Capital Corp. | ||||||||
| 3.250%, due 7/15/27 | 75,000 | 72,808 | ||||||
| 7.500%, due 8/1/31 | 130,000 | 130,220 | ||||||
| 7.875%, due 1/15/29 | 75,000 | 77,138 | ||||||
| 426,638 | ||||||||
| Iron/Steel — 0.3% | ||||||||
| Commercial Metals Co. | ||||||||
| 5.750%, due 11/15/33 | 92,000 | 90,360 | ||||||
| 6.000%, due 12/15/35 | 68,000 | 66,824 | ||||||
| Hybar LLC | ||||||||
| 7.375%, due 7/1/34 | 70,000 | 70,263 | ||||||
| Mineral Resources Ltd., (Australia) | ||||||||
| 6.000%, due 5/1/32 | 125,000 | 122,704 | ||||||
| 6.250%, due 5/1/34 | 60,000 | 58,479 | ||||||
| 7.000%, due 4/1/31 | 150,000 | 154,360 | ||||||
| 8.500%, due 5/1/30 | 350,000 | 360,900 | ||||||
| 9.250%, due 10/1/28 | 206,000 | 211,880 | ||||||
| 1,135,770 | ||||||||
| Leisure Time — 0.3% | ||||||||
| Boyne USA, Inc. | ||||||||
| 4.750%, due 5/15/29 | 250,000 | 242,949 | ||||||
| Carnival Corp. Ltd. | ||||||||
| 5.750%, due 8/1/32 | 150,000 | 148,618 | ||||||
| MajorDrive Holdings IV LLC | ||||||||
| 6.375%, due 6/1/29 | 85,000 | 69,507 | ||||||
| Patrick Industries, Inc. | ||||||||
| 6.375%, due 11/1/32 | 165,000 | 162,709 | ||||||
| Royal Caribbean Cruises Ltd. | ||||||||
| 4.750%, due 5/15/33 | 280,000 | 268,066 | ||||||
| 5.375%, due 1/15/36 | 295,000 | 285,663 | ||||||
| 1,177,512 | ||||||||
| Lodging — 0.5% | ||||||||
| Boyd Gaming Corp. | ||||||||
| 4.750%, due 6/15/31 | 225,000 | 214,849 | ||||||
| Hilton Domestic Operating Co., Inc. | ||||||||
| 3.625%, due 2/15/32 | 100,000 | 90,485 | ||||||
| 4.000%, due 5/1/31 | 225,000 | 211,141 | ||||||
| 4.875%, due 1/15/30 | 500,000 | 492,915 | ||||||
| 5.500%, due 9/15/31 | 400,000 | 396,319 | ||||||
| 5.500%, due 3/31/34 | 100,000 | 97,960 | ||||||
| 5.750%, due 9/15/33 | 100,000 | 99,090 | ||||||
| Travel + Leisure Co. | ||||||||
| 6.250%, due 6/1/31 | 160,000 | 160,246 | ||||||
| Wyndham Hotels & Resorts, Inc. | ||||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Lodging (continued) | ||||||||
| 5.625%, due 3/1/33 | $ | 155,000 | $ | 150,850 | ||||
| 1,913,855 | ||||||||
| Machinery-Construction & Mining — 0.0%(b) | ||||||||
| Solaris Energy Infrastructure LLC | ||||||||
| 6.375%, due 5/15/31 | 55,000 | 54,028 | ||||||
| Machinery-Diversified — 0.1% | ||||||||
| Columbus McKinnon Corp. | ||||||||
| 7.125%, due 2/1/33 | 100,000 | 100,750 | ||||||
| Esab Corp. | ||||||||
| 5.625%, due 4/1/31 | 100,000 | 98,791 | ||||||
| 6.250%, due 4/15/29 | 110,000 | 111,164 | ||||||
| Maxim Crane Works Holdings Capital LLC | ||||||||
| 11.500%, due 9/1/28 | 135,000 | 140,074 | ||||||
| 450,779 | ||||||||
| Media — 1.8% | ||||||||
| Block Communications, Inc. | ||||||||
| 10.250%, due 3/1/31 | 50,000 | 43,444 | ||||||
| Cable One, Inc. | ||||||||
| 1.125%, due 3/15/28 | 335,000 | 147,400 | ||||||
| 4.000%, due 11/15/30 | 160,000 | 59,487 | ||||||
| CCO Holdings LLC / CCO Holdings Capital Corp. | ||||||||
| 4.250%, due 2/1/31 | 100,000 | 88,513 | ||||||
| 4.500%, due 5/1/32 | 745,000 | 642,478 | ||||||
| 4.750%, due 3/1/30 | 100,000 | 93,433 | ||||||
| 5.000%, due 2/1/28 | 300,000 | 296,172 | ||||||
| 7.000%, due 2/1/33 | 150,000 | 143,750 | ||||||
| CSC Holdings LLC | ||||||||
| 5.500%, due 4/15/27 | 200,000 | 123,852 | ||||||
| 5.750%, due 1/15/30 | 305,000 | 65,575 | ||||||
| 6.500%, due 2/1/29 | 200,000 | 113,235 | ||||||
| Directv Financing LLC | ||||||||
| 8.875%, due 2/1/30 | 225,000 | 229,079 | ||||||
| Directv Financing LLC / Directv Financing Co.-Obligor, Inc. | ||||||||
| 5.875%, due 8/15/27 | 13,000 | 12,969 | ||||||
| 9.250%, due 6/1/32 | 75,000 | 76,746 | ||||||
| Discovery Communications LLC | ||||||||
| 3.625%, due 5/15/30 | 80,000 | 74,000 | ||||||
| Discovery Global Holdings, Inc. | ||||||||
| 4.279%, due 3/15/32 | 195,000 | 173,271 | ||||||
| 5.050%, due 3/15/42 | 115,000 | 79,925 | ||||||
| EchoStar Corp. | ||||||||
| 6.750%, due 11/30/30 | 347,599 | 352,535 | ||||||
| 10.750%, due 11/30/29 | 100,000 | 108,170 | ||||||
| Gray Media, Inc. | ||||||||
| 4.750%, due 10/15/30 | 100,000 | 77,281 | ||||||
| 9.625%, due 7/15/32 | 60,000 | 60,645 | ||||||
| 10.500%, due 7/15/29 | 36,000 | 37,964 | ||||||
| iHeartCommunications, Inc. | ||||||||
| 9.125%, due 5/1/29 | 85,000 | 78,773 | ||||||
| LCPR Senior Secured Financing DAC, (Puerto Rico) | ||||||||
| 5.125%, due 7/15/29 | 200,000 | 110,046 | ||||||
| 6.750%, due 10/15/27 | 200,000 | 112,804 | ||||||
| Nexstar Media, Inc. | ||||||||
| 4.750%, due 11/1/28 | 50,000 | 49,028 | ||||||
| 6.500%, due 9/15/33 | 240,000 | 238,770 | ||||||
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Media (continued) | ||||||||
| 7.250%, due 4/15/34 | $ | 150,000 | $ | 150,336 | ||||
| Paramount Global | ||||||||
| 4.200%, due 6/1/29 | 100,000 | 94,959 | ||||||
| 4.950%, due 1/15/31 | 210,000 | 192,444 | ||||||
| 6.875%, due 4/30/36(d) | 85,000 | 77,693 | ||||||
| Sinclair Television Group, Inc. | ||||||||
| 8.125%, due 2/15/33 | 175,000 | 179,458 | ||||||
| Sirius XM Radio LLC | ||||||||
| 4.000%, due 7/15/28 | 100,000 | 97,269 | ||||||
| 5.000%, due 8/1/27 | 334,000 | 333,516 | ||||||
| 5.875%, due 4/15/32 | 75,000 | 73,596 | ||||||
| Space Exploration Technologies Corp. | ||||||||
| 5.650%, due 7/15/33 | 300,000 | 287,408 | ||||||
| Time Warner Cable LLC | ||||||||
| 6.750%, due 6/15/39 | 635,000 | 598,399 | ||||||
| Univision Communications, Inc. | ||||||||
| 7.375%, due 6/30/30 | 70,000 | 69,696 | ||||||
| 8.500%, due 7/31/31 | 65,000 | 64,856 | ||||||
| 8.875%, due 4/15/33 | 75,000 | 72,617 | ||||||
| 9.375%, due 8/1/32 | 115,000 | 114,866 | ||||||
| Versant Media Group, Inc. | ||||||||
| 7.250%, due 1/30/31 | 240,000 | 247,401 | ||||||
| Virgin Media Secured Finance PLC, (United Kingdom) | ||||||||
| 5.500%, due 5/15/29 | 200,000 | 179,552 | ||||||
| Ziggo BV, (Netherlands) | ||||||||
| 4.875%, due 1/15/30 | 225,000 | 202,622 | ||||||
| 6,726,033 | ||||||||
| Metal Fabricate/Hardware — 0.2% | ||||||||
| Advanced Drainage Systems, Inc. | ||||||||
| 6.375%, due 6/15/30 | 300,000 | 302,274 | ||||||
| Park-Ohio Industries, Inc. | ||||||||
| 8.500%, due 8/1/30 | 80,000 | 83,591 | ||||||
| Vallourec SACA, (France) | ||||||||
| 7.500%, due 4/15/32 | 200,000 | 208,832 | ||||||
| 594,697 | ||||||||
| Mining — 1.0% | ||||||||
| Alumina Pty Ltd. | ||||||||
| 6.375%, due 9/15/32 | 200,000 | 201,303 | ||||||
| Arcosa, Inc. | ||||||||
| 4.375%, due 4/15/29 | 425,000 | 415,274 | ||||||
| 6.875%, due 8/15/32 | 265,000 | 273,242 | ||||||
| Century Aluminum Co. | ||||||||
| 6.875%, due 8/1/32 | 205,000 | 208,178 | ||||||
| Eldorado Gold Corp., (Turkey) | ||||||||
| 6.250%, due 9/1/29 | 200,000 | 199,781 | ||||||
| Freeport Indonesia PT, (Indonesia) | ||||||||
| 6.200%, due 4/14/52 | 1,020,000 | 947,036 | ||||||
| IAMGOLD Corp., (Burkina Faso) | ||||||||
| 5.750%, due 10/15/28 | 275,000 | 274,343 | ||||||
| PLS Group Ltd., (Australia) | ||||||||
| 6.875%, due 5/1/31 | 155,000 | 157,104 | ||||||
| Skeena Resources Ltd., (Canada) | ||||||||
| 8.500%, due 4/1/31 | 300,000 | 313,220 | ||||||
| WE Soda Investments Holding PLC, (Turkey) | ||||||||
| 9.375%, due 2/14/31 | 765,000 | 744,211 | ||||||
| 3,733,692 | ||||||||
| Miscellaneous Manufacturing — 0.2% | ||||||||
| Amsted Industries, Inc. | ||||||||
| 4.625%, due 5/15/30 | 150,000 | 145,075 | ||||||
| 6.375%, due 3/15/33 | 125,000 | 126,069 | ||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Miscellaneous Manufacturing (continued) | ||||||||
| Axon Enterprise, Inc. | ||||||||
| 6.125%, due 3/15/30 | $ | 100,000 | $ | 101,161 | ||||
| 6.250%, due 3/15/33 | 100,000 | 101,417 | ||||||
| Calderys Financing II LLC | ||||||||
| 11.750%, due 6/1/28 | 212,500 | 216,584 | ||||||
| Calderys Financing LLC, (France) | ||||||||
| 11.250%, due 6/1/28 | 100,000 | 103,551 | ||||||
| 793,857 | ||||||||
| Oil & Gas — 1.3% | ||||||||
| Caturus Energy LLC | ||||||||
| 7.125%, due 5/15/31 | 115,000 | 114,001 | ||||||
| Chord Energy Corp. | ||||||||
| 6.000%, due 10/1/30 | 50,000 | 50,167 | ||||||
| Comstock Resources, Inc. | ||||||||
| 6.750%, due 3/1/29 | 335,000 | 329,921 | ||||||
| Crescent Energy Finance LLC | ||||||||
| 7.875%, due 4/15/32 | 125,000 | 127,297 | ||||||
| Eldorado Drilling Bondco Ltd., (Cayman Islands) | ||||||||
| 9.125%, due 6/24/30 | 75,000 | 74,697 | ||||||
| Energean Israel Finance Ltd., (Israel) | ||||||||
| 5.375%, due 3/30/28 | 95,000 | 94,120 | ||||||
| Gulfport Energy Operating Corp. | ||||||||
| 6.750%, due 9/1/29 | 200,000 | 202,454 | ||||||
| Hilcorp Energy I LP / Hilcorp Finance Co. | ||||||||
| 6.000%, due 2/1/31 | 300,000 | 292,440 | ||||||
| Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp. | ||||||||
| 6.625%, due 8/15/34 | 195,000 | 195,066 | ||||||
| Matador Resources Co. | ||||||||
| 6.000%, due 4/15/34 | 140,000 | 135,406 | ||||||
| Moss Creek Resources Holdings, Inc. | ||||||||
| 8.250%, due 9/1/31 | 50,000 | 50,116 | ||||||
| Murphy Oil Corp. | ||||||||
| 6.000%, due 10/1/32(d) | 95,000 | 94,079 | ||||||
| 6.500%, due 2/15/34 | 70,000 | 69,219 | ||||||
| Noble Finance II LLC | ||||||||
| 6.250%, due 6/15/34 | 250,000 | 242,768 | ||||||
| 8.000%, due 4/15/30 | 221,000 | 228,467 | ||||||
| PBF Holding Co. LLC / PBF Finance Corp. | ||||||||
| 7.875%, due 9/15/30 | 125,000 | 129,727 | ||||||
| 9.875%, due 3/15/30 | 115,000 | 123,209 | ||||||
| Permian Resources Operating LLC | ||||||||
| 5.875%, due 7/1/29 | 450,000 | 450,169 | ||||||
| Range Resources Corp. | ||||||||
| 4.750%, due 2/15/30 | 200,000 | 194,703 | ||||||
| Rockcliff Energy II LLC | ||||||||
| 5.500%, due 10/15/29 | 250,000 | 244,599 | ||||||
| SM Energy Co. | ||||||||
| 6.750%, due 8/1/29 | 100,000 | 101,451 | ||||||
| Sunoco LP | ||||||||
| 4.625%, due 5/1/30 | 500,000 | 481,435 | ||||||
| 5.375%, due 7/15/31 | 140,000 | 137,327 | ||||||
| Talos Production, Inc. | ||||||||
| 8.000%, due 7/15/34 | 170,000 | 171,669 | ||||||
| 9.375%, due 2/1/31 | 360,000 | 379,555 | ||||||
| Transocean International Ltd. | ||||||||
| 8.750%, due 2/15/30 | 175,000 | 181,765 | ||||||
| Wildfire Intermediate Holdings LLC | ||||||||
| 7.500%, due 10/15/29 | 100,000 | 103,020 | ||||||
| 4,998,847 | ||||||||
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Oil & Gas Services — 0.6% | ||||||||
| Archrock Partners LP / Archrock Partners Finance Corp. | ||||||||
| 6.625%, due 9/1/32 | $ | 100,000 | $ | 101,432 | ||||
| Archrock Services LP / Archrock Partners Finance Corp. | ||||||||
| 6.000%, due 2/1/34 | 140,000 | 137,012 | ||||||
| Bristow Group, Inc. | ||||||||
| 6.750%, due 2/1/33 | 235,000 | 235,270 | ||||||
| Kodiak Gas Services LLC | ||||||||
| 5.875%, due 4/1/31 | 200,000 | 197,752 | ||||||
| 6.500%, due 10/1/33 | 100,000 | 99,871 | ||||||
| Oceaneering International, Inc. | ||||||||
| 6.875%, due 7/15/34 | 150,000 | 153,482 | ||||||
| SESI LLC | ||||||||
| 7.875%, due 9/30/30 | 240,000 | 242,838 | ||||||
| Tidewater, Inc. | ||||||||
| 9.125%, due 7/15/30 | 220,000 | 235,121 | ||||||
| Weatherford International Ltd. | ||||||||
| 6.750%, due 10/15/33 | 140,000 | 141,719 | ||||||
| Yinson Boronia Production BV, (Brazil) | ||||||||
| 8.947%, due 7/31/42 | 571,271 | 628,502 | ||||||
| 2,172,999 | ||||||||
| Pharmaceuticals — 0.7% | ||||||||
| 1261229 BC Ltd. | ||||||||
| 10.000%, due 4/15/32 | 95,000 | 97,114 | ||||||
| Bausch Health Cos., Inc., (Canada) | ||||||||
| 11.000%, due 9/30/28 | 70,000 | 71,520 | ||||||
| BellRing Brands, Inc. | ||||||||
| 7.000%, due 3/15/30 | 200,000 | 197,700 | ||||||
| CVS Pass-Through Trust | ||||||||
| 5.926%, due 1/10/34 | 98,345 | 98,872 | ||||||
| Endo Finance Holdings LP | ||||||||
| 8.500%, due 4/15/31 | 210,000 | 221,155 | ||||||
| HLF Financing SARL LLC / Herbalife International, Inc. | ||||||||
| 7.750%, due 5/1/33 | 60,000 | 60,380 | ||||||
| Jazz Securities DAC | ||||||||
| 4.375%, due 1/15/29 | 950,000 | 930,025 | ||||||
| Organon & Co / Organon Foreign Debt Co.-Issuer BV | ||||||||
| 4.125%, due 4/30/28 | 575,000 | 565,866 | ||||||
| 5.125%, due 4/30/31 | 400,000 | 395,903 | ||||||
| 2,638,535 | ||||||||
| Pipelines — 2.4% | ||||||||
| Antero Midstream Partners LP / Antero Midstream Finance Corp. | ||||||||
| 5.750%, due 1/15/28 | 300,000 | 299,770 | ||||||
| 5.750%, due 10/15/33 | 100,000 | 98,220 | ||||||
| Buckeye Partners LP | ||||||||
| 6.750%, due 2/1/30 | 125,000 | 128,064 | ||||||
| 6.875%, due 7/1/29 | 250,000 | 255,682 | ||||||
| Cheniere Energy, Inc. | ||||||||
| 5.200%, due 7/30/36 | 425,000 | 411,109 | ||||||
| CNX Midstream Partners LP | ||||||||
| 4.750%, due 4/15/30 | 125,000 | 119,822 | ||||||
| Columbia Pipelines Operating Co. LLC | ||||||||
| 5.962%, due 2/15/55 | 1,040,000 | 985,635 | ||||||
| DT Midstream, Inc. | ||||||||
| 4.300%, due 4/15/32 | 605,000 | 571,174 | ||||||
| Energy Transfer LP | ||||||||
| 6.500%, (5 Year US CMT T-Note + 2.68%), due 2/15/56(a) | 110,000 | 110,012 | ||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Pipelines (continued) | ||||||||
| 6.550%, (5 Year US CMT T-Note + 2.34%), due 1/15/57(a) | $ | 75,000 | $ | 74,048 | ||||
| Excelerate Energy LP | ||||||||
| 8.000%, due 5/15/30 | 150,000 | 157,152 | ||||||
| Flex Intermediate Holdco LLC | ||||||||
| 3.363%, due 6/30/31 | 635,000 | 581,892 | ||||||
| Global Partners LP / GLP Finance Corp. | ||||||||
| 6.875%, due 1/15/29 | 150,000 | 150,769 | ||||||
| 7.125%, due 7/1/33 | 25,000 | 25,317 | ||||||
| Harvest Midstream I LP | ||||||||
| 6.750%, due 5/15/34 | 175,000 | 175,697 | ||||||
| Hess Midstream Operations LP | ||||||||
| 5.500%, due 10/15/30 | 300,000 | 298,934 | ||||||
| ITT Holdings LLC | ||||||||
| 6.500%, due 8/1/29 | 250,000 | 247,191 | ||||||
| ONEOK, Inc. | ||||||||
| 6.250%, due 10/15/55 | 575,000 | 551,978 | ||||||
| Plains All American Pipeline LP | ||||||||
| Series B | ||||||||
| 8.023%, (3 Month CME SOFR + 4.37%), due 11/15/74(a) | 550,000 | 549,731 | ||||||
| Plains All American Pipeline LP / PAA Finance Corp. | ||||||||
| 5.600%, due 1/15/36 | 285,000 | 280,721 | ||||||
| Prairie Acquiror LP | ||||||||
| 9.000%, due 8/1/29 | 75,000 | 77,364 | ||||||
| South Bow Canadian Infrastructure Holdings Ltd., (Canada) | ||||||||
| 7.625%, (5 Year US CMT T-Note + 3.95%), due 3/1/55(a) | 100,000 | 104,002 | ||||||
| Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. | ||||||||
| 5.500%, due 1/15/28 | 600,000 | 599,291 | ||||||
| 6.000%, due 12/31/30 | 110,000 | 109,214 | ||||||
| 6.750%, due 3/15/34 | 90,000 | 90,559 | ||||||
| TransMontaigne Partners LLC | ||||||||
| 8.500%, due 6/15/30 | 100,000 | 102,026 | ||||||
| Venture Global Calcasieu Pass LLC | ||||||||
| 6.000%, due 5/1/36 | 100,000 | 98,832 | ||||||
| Venture Global LNG, Inc. | ||||||||
| 6.375%, due 12/15/34 | 135,000 | 131,479 | ||||||
| 6.625%, due 6/15/36 | 85,000 | 83,305 | ||||||
| 7.000%, due 1/15/30 | 110,000 | 111,750 | ||||||
| 8.375%, due 6/1/31 | 420,000 | 434,195 | ||||||
| 9.500%, due 2/1/29 | 175,000 | 187,323 | ||||||
| 9.875%, due 2/1/32 | 140,000 | 149,055 | ||||||
| Venture Global Plaquemines LNG LLC | ||||||||
| 6.125%, due 12/15/30 | 60,000 | 60,951 | ||||||
| 6.500%, due 1/15/34 | 150,000 | 154,779 | ||||||
| 6.500%, due 6/15/34 | 40,000 | 41,253 | ||||||
| 6.750%, due 1/15/36 | 50,000 | 52,335 | ||||||
| Western Midstream Operating LP | ||||||||
| 5.250%, due 2/1/50 | 485,000 | 403,490 | ||||||
| 9,064,121 | ||||||||
| REITS — 1.4% | ||||||||
| Alexandria Real Estate Equities, Inc. | ||||||||
| 5.250%, due 3/15/36 | 405,000 | 388,471 | ||||||
| American Homes 4 Rent LP | ||||||||
| 2.375%, due 7/15/31 | 905,000 | 793,629 | ||||||
| Blackstone Mortgage Trust, Inc. | ||||||||
| 6.250%, due 6/1/31 | 75,000 | 71,709 | ||||||
| 7.750%, due 12/1/29 | 145,000 | 149,845 | ||||||
| GLP Capital LP / GLP Financing II, Inc. | ||||||||
| 4.000%, due 1/15/30 | 930,000 | 887,635 | ||||||
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| REITS (continued) | ||||||||
| Invitation Homes Operating Partnership LP | ||||||||
| 2.000%, due 8/15/31 | $ | 585,000 | $ | 500,494 | ||||
| Iron Mountain, Inc. | ||||||||
| 5.250%, due 3/15/28 | 100,000 | 99,639 | ||||||
| Millrose Properties, Inc. | ||||||||
| 6.250%, due 9/15/32 | 100,000 | 99,915 | ||||||
| 6.375%, due 8/1/30 | 150,000 | 151,109 | ||||||
| MPT Operating Partnership LP / MPT Finance Corp. | ||||||||
| 5.000%, due 10/15/27 | 90,000 | 87,329 | ||||||
| 8.500%, due 2/15/32 | 100,000 | 101,631 | ||||||
| RHP Hotel Properties LP / RHP Finance Corp. | ||||||||
| 4.500%, due 2/15/29 | 250,000 | 244,224 | ||||||
| 5.750%, due 3/15/34 | 100,000 | 97,928 | ||||||
| 6.500%, due 4/1/32 | 125,000 | 127,116 | ||||||
| 6.500%, due 6/15/33 | 80,000 | 81,397 | ||||||
| 7.250%, due 7/15/28 | 100,000 | 101,844 | ||||||
| Starwood Property Trust, Inc. | ||||||||
| 5.750%, due 1/15/31 | 135,000 | 132,952 | ||||||
| 6.125%, due 6/1/31 | 100,000 | 99,763 | ||||||
| 6.500%, due 7/1/30 | 100,000 | 101,563 | ||||||
| Trust 2401, (Mexico) | ||||||||
| 7.375%, due 2/13/34 | 685,000 | 721,990 | ||||||
| Vornado Realty LP | ||||||||
| 5.750%, due 2/1/33 | 90,000 | 89,238 | ||||||
| 5,129,421 | ||||||||
| Retail — 1.4% | ||||||||
| 1011778 BC ULC / New Red Finance, Inc., (Canada) | ||||||||
| 3.875%, due 1/15/28 | 100,000 | 97,982 | ||||||
| 4.000%, due 10/15/30 | 500,000 | 469,801 | ||||||
| 6.125%, due 6/15/29 | 100,000 | 101,043 | ||||||
| Academy Ltd. | ||||||||
| 5.875%, due 5/15/31 | 75,000 | 74,191 | ||||||
| Arcos Dorados BV, (Brazil) | ||||||||
| 6.375%, due 1/29/32 | 820,000 | 847,254 | ||||||
| Asbury Automotive Group, Inc. | ||||||||
| 4.750%, due 3/1/30 | 250,000 | 242,483 | ||||||
| 5.000%, due 2/15/32 | 100,000 | 95,279 | ||||||
| AutoNation, Inc. | ||||||||
| 4.750%, due 6/1/30 | 313,000 | 308,292 | ||||||
| Beacon Roofing Supply, Inc. | ||||||||
| 6.750%, due 4/30/32 | 350,000 | 357,441 | ||||||
| Group 1 Automotive, Inc. | ||||||||
| 4.000%, due 8/15/28 | 200,000 | 193,014 | ||||||
| 6.375%, due 1/15/30 | 100,000 | 100,460 | ||||||
| Ken Garff Automotive LLC | ||||||||
| 4.875%, due 9/15/28 | 700,000 | 692,454 | ||||||
| LCM Investments Holdings II LLC | ||||||||
| 4.875%, due 5/1/29 | 400,000 | 390,179 | ||||||
| Lithia Motors, Inc. | ||||||||
| 5.500%, due 10/1/30 | 160,000 | 157,709 | ||||||
| Murphy Oil USA, Inc. | ||||||||
| 5.875%, due 6/1/34 | 155,000 | 153,573 | ||||||
| Papa John's International, Inc. | ||||||||
| 3.875%, due 9/15/29 | 100,000 | 93,504 | ||||||
| PetSmart LLC / PetSmart Finance Corp. | ||||||||
| 7.500%, due 9/15/32 | 135,000 | 136,405 | ||||||
| QXO Building Products, Inc. | ||||||||
| 6.500%, due 7/15/31 | 100,000 | 100,405 | ||||||
| 6.875%, due 7/15/34 | 45,000 | 45,067 | ||||||
| Yum! Brands, Inc. | ||||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Retail (continued) | ||||||||
| 4.625%, due 1/31/32 | $ | 400,000 | $ | 380,004 | ||||
| 5.375%, due 4/1/32 | 100,000 | 98,665 | ||||||
| 5,135,205 | ||||||||
| Semiconductors — 0.2% | ||||||||
| Amkor Technology, Inc. | ||||||||
| 5.875%, due 10/1/33 | 230,000 | 223,723 | ||||||
| Foundry JV Holdco LLC | ||||||||
| 6.200%, due 1/25/37 | 595,000 | 608,508 | ||||||
| 832,231 | ||||||||
| Software — 1.2% | ||||||||
| Cloud Software Group LLC | ||||||||
| 6.500%, due 3/31/29 | 500,000 | 488,582 | ||||||
| 9.000%, due 9/30/29 | 185,000 | 181,254 | ||||||
| Fair Isaac Corp. | ||||||||
| 6.000%, due 5/15/33 | 175,000 | 169,375 | ||||||
| 6.250%, due 9/15/34 | 125,000 | 120,756 | ||||||
| Fidelity National Information Services, Inc. | ||||||||
| 4.550%, due 3/10/29 | 455,000 | 450,906 | ||||||
| OAK-Eagle Acquireco, Inc. | ||||||||
| 7.250%, due 7/1/33 | 300,000 | 310,852 | ||||||
| 8.750%, due 7/1/34 | 200,000 | 210,697 | ||||||
| Open Text Holdings, Inc., (Canada) | ||||||||
| 4.125%, due 2/15/30 | 340,000 | 313,664 | ||||||
| 4.125%, due 12/1/31 | 70,000 | 61,766 | ||||||
| PTC, Inc. | ||||||||
| 4.000%, due 2/15/28 | 100,000 | 97,783 | ||||||
| Salesforce, Inc. | ||||||||
| 5.550%, due 3/15/36 | 690,000 | 672,840 | ||||||
| SS&C Technologies, Inc. | ||||||||
| 5.500%, due 9/30/27 | 500,000 | 499,312 | ||||||
| 6.500%, due 6/1/32 | 300,000 | 302,220 | ||||||
| UKG, Inc. | ||||||||
| 6.875%, due 2/1/31 | 425,000 | 416,399 | ||||||
| 4,296,406 | ||||||||
| Sovereign & Agency — 0.4% | ||||||||
| Colombia Government International Bond, (Colombia) | ||||||||
| 7.750%, due 11/7/36(d) | 675,000 | 720,731 | ||||||
| Eagle Funding Luxco SARL, (Mexico) | ||||||||
| 5.500%, due 8/17/30 | 885,000 | 883,452 | ||||||
| 1,604,183 | ||||||||
| Telecommunications — 1.7% | ||||||||
| APLD ComputeCo 2 LLC | ||||||||
| 6.750%, due 3/15/31 | 255,000 | 249,265 | ||||||
| APLD ComputeCo LLC | ||||||||
| 9.250%, due 12/15/30 | 245,000 | 260,375 | ||||||
| AT&T, Inc. | ||||||||
| 3.500%, due 9/15/53 | 585,000 | 353,383 | ||||||
| Beacon Point DC LLC | ||||||||
| 6.129%, due 11/30/42 | 50,000 | 47,977 | ||||||
| Bell Telephone Co. of Canada or Bell Canada, (Canada) | ||||||||
| 6.875%, (5 Year US CMT T-Note + 2.39%), due 9/15/55(a) | 200,000 | 201,666 | ||||||
| 7.000%, (5 Year US CMT T-Note + 2.36%), due 9/15/55(a) | 100,000 | 100,796 | ||||||
| Black Pearl Compute LLC | ||||||||
| 6.125%, due 2/15/31 | 180,000 | 179,698 | ||||||
| Ciena Corp. | ||||||||
| 4.000%, due 1/31/30 | 200,000 | 189,798 | ||||||
| Cipher Compute LLC | ||||||||
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Telecommunications (continued) | ||||||||
| 7.125%, due 11/15/30 | $ | 405,000 | $ | 413,104 | ||||
| Connect Finco SARL / Connect U.S. Finco LLC, (United Kingdom) | ||||||||
| 9.000%, due 9/15/29 | 200,000 | 209,796 | ||||||
| Core Scientific Finance I LLC | ||||||||
| 7.750%, due 5/15/31 | 545,000 | 533,678 | ||||||
| Flash Compute LLC | ||||||||
| 7.250%, due 12/31/30 | 135,000 | 136,326 | ||||||
| Galaxy Helios Data Centers II LLC | ||||||||
| 9.875%, due 8/1/31 | 130,000 | 130,354 | ||||||
| Iliad Holding SAS, (France) | ||||||||
| 8.500%, due 4/15/31 | 215,000 | 226,159 | ||||||
| PR RNO Property Owner 1 LLC | ||||||||
| 6.500%, due 5/1/31 | 335,000 | 315,442 | ||||||
| Rogers Communications, Inc., (Canada) | ||||||||
| 6.875%, (5 Year US CMT T-Note + 2.84%), due 7/31/56(a) | 100,000 | 100,041 | ||||||
| 7.000%, (5 Year US CMT T-Note + 2.65%), due 4/15/55(a) | 190,000 | 191,140 | ||||||
| 7.125%, (5 Year US CMT T-Note + 2.62%), due 4/15/55(a) | 135,000 | 136,249 | ||||||
| SV RNO Property Owner 1 LLC | ||||||||
| 5.875%, due 3/1/31 | 250,000 | 232,149 | ||||||
| TELUS Corp., (Canada) | ||||||||
| 6.375%, (5 Year US CMT T-Note + 2.69%), due 6/9/56(a) | 100,000 | 98,719 | ||||||
| 6.625%, (5 Year US CMT T-Note + 2.77%), due 10/15/55(a) | 125,000 | 124,593 | ||||||
| Total Play Telecomunicaciones SA de CV, (Mexico) | ||||||||
| 11.125%, due 12/31/32 | 280,000 | 273,664 | ||||||
| Uniti Group LP / Uniti Group Finance 2019, Inc. / CSL Capital LLC | ||||||||
| 4.750%, due 4/15/28 | 100,000 | 99,621 | ||||||
| 6.500%, due 2/15/29 | 100,000 | 98,626 | ||||||
| Verizon Communications, Inc. | ||||||||
| 6.200%, (5 Year US CMT T-Note + 2.04%), due 5/14/56(a) | 830,000 | 812,283 | ||||||
| Viasat, Inc. | ||||||||
| 6.500%, due 7/15/28 | 90,000 | 89,294 | ||||||
| Vodafone Group PLC, (United Kingdom) | ||||||||
| 7.000%, (USD 5 Year Swap + 4.87%), due 4/4/79(a) | 175,000 | 179,725 | ||||||
| Windstream Services LLC / Windstream Escrow Finance Corp. | ||||||||
| 8.250%, due 10/1/31 | 150,000 | 156,154 | ||||||
| WULF Compute LLC | ||||||||
| 7.750%, due 10/15/30 | 370,000 | 384,418 | ||||||
| 6,524,493 | ||||||||
| Transportation — 0.4% | ||||||||
| Genesee & Wyoming, Inc. | ||||||||
| 6.250%, due 4/15/32 | 200,000 | 201,146 | ||||||
| Seaspan Corp. Pte Ltd., (Hong Kong) | ||||||||
| 5.500%, due 8/1/29 | 125,000 | 121,432 | ||||||
| Star Leasing Co. LLC | ||||||||
| 7.625%, due 2/15/30 | 475,000 | 462,385 | ||||||
| Stonepeak Nile Parent LLC | ||||||||
| 7.250%, due 3/15/32 | 100,000 | 103,075 | ||||||
| Watco Cos. LLC / Watco Finance Corp. | ||||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| Corporate Bonds (continued) | ||||||||
| Transportation (continued) | ||||||||
| 7.125%, due 8/1/32 | $ | 420,000 | $ | 430,413 | ||||
| 1,318,451 | ||||||||
| Total Corporate Bonds | ||||||||
| (Cost $160,171,310) | 157,913,467 | |||||||
| U.S. Government & Federal Agencies — 32.1% | ||||||||
| Mortgage Securities — 12.3% | ||||||||
| Fannie Mae Interest Strip | ||||||||
| Series 2022-426 C32 | ||||||||
| 1.500%, due 2/25/52(e) | 2,428,330 | 226,511 | ||||||
| Series 2023-429 C5 | ||||||||
| 3.000%, due 10/25/52(e) | 1,711,326 | 310,911 | ||||||
| Series 2023-438 C34 | ||||||||
| 6.000%, due 8/25/53(e) | 907,223 | 212,171 | ||||||
| Series 2024-440 C46 | ||||||||
| 4.000%, due 10/25/53(e) | 1,044,018 | 228,813 | ||||||
| Fannie Mae Pool | ||||||||
| Series 2020-FM5299 | ||||||||
| 3.500%, due 11/1/50 | 204,101 | 181,664 | ||||||
| Series 2021-MA4492 | ||||||||
| 2.000%, due 12/1/51 | 350,489 | 275,330 | ||||||
| Series 2021-MA4511 | ||||||||
| 2.000%, due 1/1/52 | 247,429 | 194,328 | ||||||
| Series 2022-CB3155 | ||||||||
| 2.000%, due 3/1/52 | 340,178 | 265,694 | ||||||
| Series 2022-MA4562 | ||||||||
| 2.000%, due 3/1/52 | 2,381,444 | 1,867,432 | ||||||
| Series 2022-MA4624 | ||||||||
| 3.000%, due 6/1/52 | 538,628 | 461,034 | ||||||
| Series 2023-FP0087 | ||||||||
| 2.000%, due 10/1/50 | 1,525,806 | 1,200,297 | ||||||
| Series 2023-FS3603 | ||||||||
| 5.500%, due 8/1/53 | 532,307 | 532,315 | ||||||
| Series 2023-FS5641 | ||||||||
| 6.000%, due 8/1/53 | 327,708 | 332,919 | ||||||
| Series 2023-MA4918 | ||||||||
| 5.000%, due 2/1/53 | 493,034 | 479,231 | ||||||
| Series 2023-MA4919 | ||||||||
| 5.500%, due 2/1/53 | 365,924 | 364,869 | ||||||
| Series 2023-MA5027 | ||||||||
| 4.000%, due 5/1/53 | 456,887 | 417,950 | ||||||
| Series 2023-MA5108 | ||||||||
| 6.000%, due 8/1/53 | 716,783 | 728,304 | ||||||
| Series 2023-MA5139 | ||||||||
| 6.000%, due 9/1/53 | 300,644 | 304,934 | ||||||
| Series 2024-FS7587 | ||||||||
| 5.500%, due 4/1/54 | 522,238 | 521,562 | ||||||
| Series 2024-FS8275 | ||||||||
| 5.500%, due 6/1/54 | 1,604,199 | 1,595,290 | ||||||
| Series 2024-FS9453 | ||||||||
| 4.500%, due 8/1/53 | 724,124 | 686,161 | ||||||
| Series 2024-MA5353 | ||||||||
| 5.500%, due 5/1/54 | 412,912 | 409,563 | ||||||
| Series 2024-MA5552 | ||||||||
| 5.000%, due 12/1/54 | 1,086,493 | 1,050,737 | ||||||
| Fannie Mae REMICS | ||||||||
| Series 2016-19 SD | ||||||||
| 2.369%, (1 Month SOFR + 5.99%), due 4/25/46(a)(e) | 971,692 | 69,150 | ||||||
| Series 2016-57 SN | ||||||||
| 2.319%, (1 Month SOFR + 5.94%), due 6/25/46(a)(e) | 474,127 | 41,103 | ||||||
| Principal Amount |
Value | |||||||
| U.S. Government & Federal Agencies (continued) | ||||||||
| Mortgage Securities (continued) | ||||||||
| Series 2019-32 SB | ||||||||
| 2.319%, (1 Month SOFR + 5.94%), due 6/25/49(a)(e) | $ | 790,589 | $ | 69,767 | ||||
| Series 2020-57 LJ | ||||||||
| 2.000%, due 8/25/50 | 790,000 | 581,856 | ||||||
| Series 2020-70 SD | ||||||||
| 2.519%, (1 Month SOFR + 6.14%), due 10/25/50(a)(e) | 667,639 | 68,589 | ||||||
| Series 2021-12 JI | ||||||||
| 2.500%, due 3/25/51(e) | 539,016 | 83,365 | ||||||
| Series 2021-3 TI | ||||||||
| 2.500%, due 2/25/51(e) | 618,971 | 102,204 | ||||||
| Series 2021-34 IS | ||||||||
| 0.202%, (1 Month SOFR + 2.91%), due 11/25/42(a)(e) | 2,459,794 | 27,400 | ||||||
| Series 2021-34 MI | ||||||||
| 2.500%, due 3/25/51(e) | 1,123,334 | 145,195 | ||||||
| Series 2021-54 HI | ||||||||
| 2.500%, due 6/25/51(e) | 147,751 | 16,604 | ||||||
| Series 2021-8 ID | ||||||||
| 3.500%, due 3/25/51(e) | 1,277,474 | 274,710 | ||||||
| Series 2022-10 SA | ||||||||
| 2.134%, (1 Month SOFR + 5.75%), due 2/25/52(a)(e) | 697,310 | 66,402 | ||||||
| Series 2023-24 OQ | ||||||||
| 0.000%, due 7/25/54(f)(g) | 434,232 | 362,547 | ||||||
| Series 2025-103 SA | ||||||||
| 2.214%, (1 Month SOFR + 5.83%), due 6/25/55(a)(e) | 1,156,448 | 64,274 | ||||||
| Series 2025-31 ZJ | ||||||||
| 5.000%, due 6/25/54 | 553,465 | 519,955 | ||||||
| Freddie Mac Mscr Trust | ||||||||
| Series 2024-MN8 M2 | ||||||||
| 7.866%, (1 Month SOFR + 4.25%), due 5/25/44(a) | 580,000 | 605,387 | ||||||
| Freddie Mac Mscr Trust Mn10 | ||||||||
| Series 2025-MN10 M2 | ||||||||
| 6.466%, (1 Month SOFR + 2.85%), due 2/25/45(a) | 465,000 | 467,660 | ||||||
| Freddie Mac Mscr Trust Mn13 | ||||||||
| Series 2026-MN13 B1 | ||||||||
| 8.116%, (1 Month SOFR + 4.50%), due 3/25/46(a) | 220,000 | 215,929 | ||||||
| Series 2026-MN13 M2 | ||||||||
| 6.566%, (1 Month SOFR + 2.95%), due 3/25/46(a) | 285,000 | 286,958 | ||||||
| Freddie Mac Multifamily Structured Credit Risk | ||||||||
| Series 2024-MN9 M2 | ||||||||
| 6.867%, (1 Month SOFR + 3.25%), due 10/25/44(a) | 780,000 | 788,931 | ||||||
| Freddie Mac Multifamily Structured Pass Through Certificates | ||||||||
| Series 2024-K758 A2 | ||||||||
| 4.680%, due 10/25/31(a)(c) | 1,260,000 | 1,255,920 | ||||||
| Freddie Mac Pool | ||||||||
| Series 2022-SD8199 | ||||||||
| 2.000%, due 3/1/52 | 2,442,719 | 1,914,992 | ||||||
| Series 2022-SD8215 | ||||||||
| 4.000%, due 5/1/52 | 209,104 | 191,587 | ||||||
| Series 2022-SD8257 | ||||||||
| 4.500%, due 10/1/52 | 1,290,739 | 1,221,337 | ||||||
| Series 2023-SD3392 | ||||||||
| 5.500%, due 7/1/53 | 250,610 | 248,949 | ||||||
| Series 2023-SD3770 | ||||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| U.S. Government & Federal Agencies (continued) | ||||||||
| Mortgage Securities (continued) | ||||||||
| 2.500%, due 3/1/52 | $ | 173,196 | $ | 144,687 | ||||
| Series 2024-SD5040 | ||||||||
| 5.500%, due 3/1/54 | 472,817 | 472,252 | ||||||
| Series 2024-SD5184 | ||||||||
| 4.000%, due 3/1/53 | 383,988 | 352,105 | ||||||
| Series 2024-SD6766 | ||||||||
| 5.500%, due 11/1/54 | 332,948 | 331,119 | ||||||
| Series 2024-SD8407 | ||||||||
| 5.000%, due 3/1/54 | 583,960 | 565,111 | ||||||
| Series 2025-SD8506 | ||||||||
| 5.500%, due 2/1/55 | 482,121 | 477,528 | ||||||
| Series 2025-SL0849 | ||||||||
| 6.000%, due 4/1/55 | 357,821 | 362,076 | ||||||
| Series 2025-SL2053 | ||||||||
| 6.000%, due 8/1/55 | 557,501 | 564,131 | ||||||
| Series 2025-ZT2487 | ||||||||
| 3.500%, due 9/1/47 | 484,733 | 437,990 | ||||||
| Series 2026-ZT2501 | ||||||||
| 3.500%, due 11/1/47 | 895,327 | 808,376 | ||||||
| Series 2026-ZT2502 | ||||||||
| 3.000%, due 1/1/43 | 772,304 | 692,774 | ||||||
| Freddie Mac REMICS | ||||||||
| Series 2020-4993 KS | ||||||||
| 2.319%, (1 Month SOFR + 5.94%), due 7/25/50(a)(e) | 1,309,475 | 139,076 | ||||||
| Series 2020-4994 TS | ||||||||
| 2.369%, (1 Month SOFR + 5.99%), due 7/25/50(a)(e) | 616,729 | 64,972 | ||||||
| Series 2020-5013 DI | ||||||||
| 3.000%, due 9/25/50(e) | 1,423,856 | 254,234 | ||||||
| Series 2020-5021 SA | ||||||||
| 0.000%, (1 Month SOFR + 3.55%), due 10/25/50(a)(e) | 698,031 | 7,681 | ||||||
| Series 2020-5031 IQ | ||||||||
| 2.500%, due 10/25/50(e) | 436,434 | 67,707 | ||||||
| Series 2020-5038 IB | ||||||||
| 2.500%, due 10/25/50(e) | 406,545 | 62,334 | ||||||
| Series 2020-5040 IO | ||||||||
| 3.500%, due 11/25/50(e) | 617,421 | 109,235 | ||||||
| Series 2021-5070 PI | ||||||||
| 3.000%, due 8/25/50(e) | 728,861 | 128,050 | ||||||
| Series 2022-5191 IO | ||||||||
| 3.500%, due 9/25/50(e) | 727,631 | 139,357 | ||||||
| Series 2023-5304 UB | ||||||||
| 4.000%, due 2/25/52 | 297,147 | 272,101 | ||||||
| Series 2023-5315 OQ | ||||||||
| 0.000%, due 1/25/55(f)(g) | 391,097 | 319,122 | ||||||
| Series 2023-5326 QO | ||||||||
| 0.000%, due 9/25/50(f)(g) | 299,291 | 202,611 | ||||||
| Series 2023-5328 JY | ||||||||
| 0.250%, due 9/25/50 | 651,070 | 444,786 | ||||||
| Series 2023-5351 DO | ||||||||
| 0.000%, due 9/25/53(f)(g) | 277,456 | 224,801 | ||||||
| Series 2023-5351 EO | ||||||||
| 0.000%, due 10/25/53(f)(g) | 192,206 | 150,898 | ||||||
| Series 2023-5363 | ||||||||
| 0.000%, due 12/25/53(f)(g) | 213,318 | 175,162 | ||||||
| Freddie Mac STACR REMIC Trust | ||||||||
| Series 2020-HQA1 B2 | ||||||||
| 8.831%, (1 Month SOFR + 5.21%), due 1/25/50(a) | 815,000 | 899,059 | ||||||
| Series 2022-DNA3 M2 | ||||||||
| 7.966%, (1 Month SOFR + 4.35%), due 4/25/42(a) | 565,000 | 578,635 | ||||||
| Series 2025-DNA1 M2 | ||||||||
| Principal Amount |
Value | |||||||
| U.S. Government & Federal Agencies (continued) | ||||||||
| Mortgage Securities (continued) | ||||||||
| 4.966%, (1 Month SOFR + 1.35%), due 1/25/45(a) | $ | 455,000 | $ | 455,000 | ||||
| Series 2025-HQA1 M2 | ||||||||
| 5.266%, (1 Month SOFR + 1.65%), due 2/25/45(a) | 1,000,000 | 1,005,623 | ||||||
| Freddie Mac STACR Trust | ||||||||
| Series 2019-HQA2 B2 | ||||||||
| 14.981%, (1 Month SOFR + 11.36%), due 4/25/49(a) | 790,000 | 928,748 | ||||||
| Freddie Mac Strips | ||||||||
| Series 2012-272 | ||||||||
| 0.000%, due 8/15/42(f)(g) | 404,732 | 306,490 | ||||||
| Series 2013-311 S1 | ||||||||
| 2.210%, (1 Month SOFR + 5.84%), due 8/15/43(a)(e) | 648,237 | 53,147 | ||||||
| Series 2023-397 C61 | ||||||||
| 5.500%, due 1/25/53(e) | 757,313 | 159,703 | ||||||
| Series 2023-402 | ||||||||
| 0.000%, due 9/25/53(f)(g) | 319,617 | 259,347 | ||||||
| Ginnie Mae II Pool | ||||||||
| Series 2021-MA7409 | ||||||||
| 2.000%, due 6/20/51 | 497,592 | 390,068 | ||||||
| Government National Mortgage Association | ||||||||
| Series 2016-93 AI | ||||||||
| 4.500%, due 7/20/44(e) | 889,754 | 195,779 | ||||||
| Series 2018-173 ZA | ||||||||
| 3.000%, due 7/16/60 | 571,071 | 417,663 | ||||||
| Series 2020-1 YS | ||||||||
| 0.000%, (1 Month CME SOFR + 2.72%), due 1/20/50(a)(e) | 1,136,657 | 7,462 | ||||||
| Series 2020-129 SB | ||||||||
| 0.000%, (1 Month CME SOFR + 3.09%), due 9/20/50(a)(e) | 1,417,071 | 8,520 | ||||||
| Series 2020-146 KI | ||||||||
| 2.500%, due 10/20/50(e) | 1,230,205 | 186,599 | ||||||
| Series 2020-146 SA | ||||||||
| 2.516%, (1 Month CME SOFR + 6.19%), due 10/20/50(a)(e) | 719,811 | 79,744 | ||||||
| Series 2020-168 IA | ||||||||
| 0.975%, due 12/16/62(a)(c)(e) | 1,450,985 | 101,705 | ||||||
| Series 2020-175 CS | ||||||||
| 2.516%, (1 Month CME SOFR + 6.19%), due 11/20/50(a)(e) | 775,084 | 82,749 | ||||||
| Series 2020-189 SU | ||||||||
| 2.516%, (1 Month CME SOFR + 6.19%), due 12/20/50(a)(e) | 690,322 | 81,322 | ||||||
| Series 2020-34 SC | ||||||||
| 2.266%, (1 Month CME SOFR + 5.94%), due 3/20/50(a)(e) | 744,841 | 73,140 | ||||||
| Series 2021-1 IT | ||||||||
| 3.000%, due 1/20/51(e) | 1,094,282 | 184,677 | ||||||
| Series 2021-1 PI | ||||||||
| 2.500%, due 12/20/50(e) | 566,697 | 82,387 | ||||||
| Series 2021-122 HS | ||||||||
| 2.516%, (1 Month CME SOFR + 6.19%), due 7/20/51(a)(e) | 986,636 | 113,200 | ||||||
| Series 2021-158 SB | ||||||||
| 0.079%, (1 Month SOFR + 3.70%), due 9/20/51(a)(e) | 857,869 | 13,063 | ||||||
| Series 2021-16 AS | ||||||||
| 0.000%, (1 Month CME SOFR + 2.64%), due 1/20/51(a)(e) | 1,994,052 | 11,059 | ||||||
| Series 2021-179 SA | ||||||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Principal Amount |
Value | |||||||
| U.S. Government & Federal Agencies (continued) | ||||||||
| Mortgage Securities (continued) | ||||||||
| 2.516%, (1 Month CME SOFR + 6.19%), due 11/20/50(a)(e) | $ | 1,142,153 | $ | 132,970 | ||||
| Series 2021-188 IO | ||||||||
| 2.500%, due 10/20/51(e) | 3,128,477 | 496,322 | ||||||
| Series 2021-205 DS | ||||||||
| 0.000%, (1 Month SOFR + 3.20%), due 11/20/51(a)(e) | 2,679,438 | 27,429 | ||||||
| Series 2021-226 SA | ||||||||
| 0.000%, (1 Month SOFR + 1.70%), due 12/20/51(a)(e) | 1,548,608 | 2,220 | ||||||
| Series 2021-29 AS | ||||||||
| 0.000%, (1 Month SOFR + 2.70%), due 2/20/51(a)(e) | 1,868,748 | 11,309 | ||||||
| Series 2021-42 BI | ||||||||
| 2.500%, due 3/20/51(e) | 502,340 | 70,687 | ||||||
| Series 2021-46 QS | ||||||||
| 2.516%, (1 Month CME SOFR + 6.19%), due 3/20/51(a)(e) | 450,043 | 48,502 | ||||||
| Series 2021-46 TS | ||||||||
| 2.516%, (1 Month CME SOFR + 6.19%), due 3/20/51(a)(e) | 575,897 | 62,450 | ||||||
| Series 2021-47 IO | ||||||||
| 0.992%, due 3/16/61(a)(c)(e) | 3,389,333 | 220,359 | ||||||
| Series 2021-49 SB | ||||||||
| 2.516%, (1 Month CME SOFR + 6.19%), due 3/20/51(a)(e) | 659,764 | 71,390 | ||||||
| Series 2021-57 SA | ||||||||
| 2.516%, (1 Month CME SOFR + 6.19%), due 3/20/51(a)(e) | 1,728,299 | 185,661 | ||||||
| Series 2021-57 SD | ||||||||
| 2.516%, (1 Month CME SOFR + 6.19%), due 3/20/51(a)(e) | 1,894,872 | 215,665 | ||||||
| Series 2021-67 PI | ||||||||
| 3.000%, due 4/20/51(e) | 622,408 | 102,443 | ||||||
| Series 2021-74 HI | ||||||||
| 3.000%, due 4/20/51(e) | 145,062 | 20,939 | ||||||
| Series 2021-97 SA | ||||||||
| 0.000%, (1 Month SOFR + 2.60%), due 6/20/51(a)(e) | 3,741,054 | 15,090 | ||||||
| Series 2021-97 SM | ||||||||
| 2.516%, (1 Month CME SOFR + 6.19%), due 6/20/51(a)(e) | 1,038,265 | 116,891 | ||||||
| Series 2021-98 IN | ||||||||
| 3.000%, due 6/20/51(e) | 515,648 | 90,773 | ||||||
| Series 2022-101 SB | ||||||||
| 0.000%, (1 Month SOFR + 3.30%), due 6/20/52(a)(e) | 979,013 | 5,399 | ||||||
| Series 2022-107 SA | ||||||||
| 0.000%, (1 Month SOFR + 3.47%), due 6/20/52(a)(e) | 4,933,274 | 33,009 | ||||||
| Series 2022-185 DI | ||||||||
| 1.022%, due 10/16/65(a)(c)(e) | 1,271,456 | 83,421 | ||||||
| Series 2022-34 HS | ||||||||
| 0.479%, (1 Month SOFR + 4.10%), due 2/20/52(a)(e) | 1,996,419 | 57,822 | ||||||
| Series 2022-78 S | ||||||||
| 3.560%, (1 Month SOFR + 3.70%), due 4/20/52(a)(e) | 1,063,603 | 10,228 | ||||||
| Series 2022-87 SA | ||||||||
| 0.000%, (1 Month SOFR + 3.30%), due 5/20/52(a)(e) | 1,957,133 | 14,433 | ||||||
| Series 2023-101 KO | ||||||||
| 0.000%, due 1/20/51(f)(g) | 994,465 | 646,375 | ||||||
| Series 2023-114 MO | ||||||||
| 0.000%, due 8/20/53(f)(g) | 146,579 | 120,032 | ||||||
| Principal Amount |
Value | |||||||
| U.S. Government & Federal Agencies (continued) | ||||||||
| Mortgage Securities (continued) | ||||||||
| Series 2023-159 CI | ||||||||
| 0.956%, due 7/16/65(a)(c)(e) | $ | 2,820,083 | $ | 188,814 | ||||
| Series 2023-172 IO | ||||||||
| 1.332%, due 2/16/66(a)(c)(e) | 1,928,856 | 169,641 | ||||||
| Series 2023-194 CI | ||||||||
| 0.844%, due 10/16/65(a)(c)(e) | 2,113,102 | 125,950 | ||||||
| Series 2023-38 WT | ||||||||
| 6.403%, due 12/20/51(a)(c) | 244,532 | 249,099 | ||||||
| Series 2023-53 | ||||||||
| 0.000%, due 4/20/53(f)(g) | 166,641 | 132,383 | ||||||
| Series 2023-55 CG | ||||||||
| 7.864%, due 7/20/51(a)(c) | 389,173 | 430,373 | ||||||
| Series 2023-55 LB | ||||||||
| 7.754%, due 11/20/51(a)(c) | 381,363 | 420,743 | ||||||
| Series 2023-56 SK | ||||||||
| 2.266%, (1 Month CME SOFR + 5.94%), due 4/20/51(a)(e) | 1,947,148 | 170,788 | ||||||
| Series 2023-59 YC | ||||||||
| 7.094%, due 9/20/51(a)(c) | 546,829 | 585,315 | ||||||
| Series 2023-66 OQ | ||||||||
| 0.000%, due 7/20/52(f)(g) | 668,266 | 531,262 | ||||||
| Series 2023-86 SE | ||||||||
| 3.029%, (1 Month SOFR + 6.65%), due 9/20/50(a)(e) | 695,274 | 92,092 | ||||||
| Series 2024-48 JI | ||||||||
| 3.000%, due 7/20/51(e) | 1,083,600 | 186,675 | ||||||
| Series 2025-112 IO | ||||||||
| 0.570%, due 3/16/66(a)(c)(e) | 3,411,652 | 166,582 | ||||||
| Series 2025-131 S | ||||||||
| 2.429%, (1 Month SOFR + 6.05%), due 8/20/55(a)(e) | 920,121 | 67,797 | ||||||
| Series 2025-2 WZ | ||||||||
| 2.000%, due 8/20/52 | 1,014,972 | 625,191 | ||||||
| Series 2025-2 Z | ||||||||
| 3.500%, due 1/20/55 | 1,164,473 | 890,553 | ||||||
| Seasoned Credit Risk Transfer Trust Series | ||||||||
| Series 2025-1 MTU | ||||||||
| 3.250%, due 11/25/64 | 1,067,225 | 901,841 | ||||||
| 45,980,874 | ||||||||
| U.S. Treasury Bond — 7.4% | ||||||||
| U.S. Treasury Bonds | ||||||||
| 5.000%, due 5/15/46 | 20,270,000 | 19,608,058 | ||||||
| 5.000%, due 5/15/56 | 8,400,000 | 8,079,750 | ||||||
| 27,687,808 | ||||||||
| U.S. Treasury Note — 12.4% | ||||||||
| U.S. Treasury Notes | ||||||||
| 4.125%, due 7/15/29 | 9,640,000 | 9,585,775 | ||||||
| 4.375%, due 7/31/31 | 6,645,000 | 6,629,945 | ||||||
| 4.375%, due 7/31/33 | 29,105,000 | 28,773,021 | ||||||
| 4.375%, due 5/15/36(d) | 1,610,000 | 1,567,737 | ||||||
| 46,556,478 | ||||||||
| Total U.S. Government & Federal Agencies | ||||||||
| (Cost $122,221,047) | 120,225,160 | |||||||
| Shares | Value | |||||||
| Common Stock — 0.0%(b) | ||||||||
| Healthcare-Products — 0.0%(b) | ||||||||
| Nine Energy Service, Inc.* | ||||||||
| (Cost $44,952) | 6,510 | $ | 73,889 | |||||
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Shares | Value | |||||||
| Short-Term Investments — 3.3% | ||||||||
| Money Market Funds — 3.3% | ||||||||
| BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 3.55%(h) | 10,086,056 | $ | 10,086,056 | |||||
| BNY Dreyfus Government Cash Management Fund, Institutional Shares, 3.53%(h)(i) | 2,423,470 | 2,423,470 | ||||||
| Total Short-Term Investments | ||||||||
| (Cost $12,509,526) | 12,509,526 | |||||||
| Total
Investments — 100.5% (Cost $382,393,153) | 376,490,721 | |||||||
| Other
Assets and Liabilities, Net — (0.5)% | (2,055,109 | ) | ||||||
| Net Assets — 100.0% | $ | 374,435,612 | ||||||
| * | Non-income producing securities. |
| (a) | Variable rate securities that may be tendered back to the issuer at any time prior to maturity at par. Rate shown is the rate in effect as of July 31, 2026. |
| (b) | Less than 0.05%. |
| (c) | Adjustable rate security with an interest rate that is not based on a published reference index and spread. The rate is based on the structure of the agreement and current market conditions. |
| (d) | All or a portion of the security was on loan. In addition, “Other Assets and Liabilities, Net” may include pending sales that are also on loan. The aggregate market value of securities on loan was $3,002,425; total market value of collateral held by the Fund was $3,126,168. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $702,698. |
| (e) | Interest only security. An interest only security is the interest only portion of a fixed income security, which is separated and sold individually from the principal portion of the security. |
| (f) | A principal only security is the principal only portion of a fixed income security, which is separated and sold individually from the interest portion of the security. |
| (g) | The security was issued on a discount basis with no stated coupon rate. Rate shown reflects the effective yield. |
| (h) | Reflects the 1-day yield at July 31, 2026. |
| (i) | Represents security purchased with cash collateral received for securities on loan. |
| Abbreviations | |
| CMT | - Constant Maturity Treasury Index |
| SOFR | - Secured Overnight Financing Rate |
1
Schedule of Investments ─ NYLIM MacKay Core Plus Bond ETF (formerly, NYLI MacKay Core Plus Bond ETF) (continued)
July 31, 2026 (unaudited)
| Open futures contracts outstanding at July 31, 2026: | |||||||||||||||||
| Type | Broker | Expiration Date | Number of Contracts Purchased (Sold) | Notional Value at Trade Date | Notional Value at July 31, 2026 | Unrealized Appreciation (Depreciation) |
|||||||||||
| LONG FUTURES CONTRACTS | |||||||||||||||||
| U.S. 10 Year Note (CBT) | Citigroup Global Markets Inc. | September 2026 | 35 | $ | 3,846,003 | $ | 3,780,000 | $ | (66,003 | ) | |||||||
| U.S. 10 Year Ultra Note | Citigroup Global Markets Inc. | September 2026 | 18 | 1,976,386 | 1,974,656 | (1,729 | ) | ||||||||||
| U.S. 2 Year Note (CBT) | Citigroup Global Markets Inc. | September 2026 | 46 | 9,478,047 | 9,458,031 | (20,016 | ) | ||||||||||
| U.S. 5 Year Note (CBT) | Citigroup Global Markets Inc. | September 2026 | 13 | 1,378,231 | 1,377,696 | (536 | ) | ||||||||||
| U.S. Long Bond (CBT) | Citigroup Global Markets Inc. | September 2026 | 30 | 3,315,072 | 3,249,375 | (65,697 | ) | ||||||||||
| U.S. Ultra Bond (CBT) | Citigroup Global Markets Inc. | September 2026 | 46 | 5,198,020 | 5,045,625 | (152,395 | ) | ||||||||||
| TOTAL | $ | (306,376 | ) | ||||||||||||||
| CBT — Chicago Board of Trade |
| Cash posted as collateral to broker for futures contracts was $32,165 at July 31, 2026. |
The following is a summary of the inputs used to value the Fund's investments as of July 31, 2026. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to the Fund's most recent semi-annual or annual financial statements.
| Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Asset Valuation Inputs | ||||||||||||||||
| Investments in Securities:(j) | ||||||||||||||||
| Bank Loans | $ | — | $ | 3,047,180 | $ | — | $ | 3,047,180 | ||||||||
| Collateralized Loan Obligations | — | 5,976,386 | — | 5,976,386 | ||||||||||||
| Collateralized Mortgage Obligations | — | 21,563,080 | — | 21,563,080 | ||||||||||||
| Commercial Asset-Backed Securities | — | 25,759,815 | — | 25,759,815 | ||||||||||||
| Commercial Mortgage-Backed Securities | — | 29,422,218 | — | 29,422,218 | ||||||||||||
| Common Stock | 73,889 | — | — | 73,889 | ||||||||||||
| Corporate Bonds | — | 157,913,467 | — | 157,913,467 | ||||||||||||
| U.S. Government & Federal Agencies | — | 120,225,160 | — | 120,225,160 | ||||||||||||
| Short-Term Investments: | ||||||||||||||||
| Money Market Funds | 12,509,526 | — | — | 12,509,526 | ||||||||||||
| Total Investments in Securities | 12,583,415 | 363,907,306 | — | 376,490,721 | ||||||||||||
| Liability Valuation Inputs | ||||||||||||||||
| Other Financial Instruments:(k) | ||||||||||||||||
| Futures Contracts | $ | (306,376 | ) | $ | — | $ | — | $ | (306,376 | ) | ||||||
| (j) | For a complete listing of investments and their industries, see the Schedule of Investments. |
| (k) | Reflects the unrealized appreciation (depreciation) of the instruments. |
For the period ended July 31, 2026, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.