# EDGAR Filing Document

**Accession Number:** 0001750821
**File Stem:** 0000910472-26-000594
**Filing Date:** 2026-1
**Character Count:** 98324
**Document Hash:** a9a0b4ebe81215c0b41b49d3ed8e5f0c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-000594.hdr.sgml**: 20260127

**ACCESSION NUMBER**: 0000910472-26-000594

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260127

**DATE AS OF CHANGE**: 20260127

**PERIOD START**: 20260531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Exchange Place Advisors Trust
- **CENTRAL INDEX KEY:** 0001750821

**ORGANIZATION NAME:**
- **EIN:** 462828241
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23373
- **FILM NUMBER:** 26563140

**BUSINESS ADDRESS:**
- **STREET 1:** 10 SOUTH LASALLE STREET, SUITE 1925
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603
- **BUSINESS PHONE:** (312) 857-2160

**MAIL ADDRESS:**
- **STREET 1:** 10 SOUTH LASALLE STREET, SUITE 1925
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** North Square Investments Trust
- **DATE OF NAME CHANGE:** 20180821

## Series and Classes Contracts Data

### North Square Strategic Income Fund (Series ID: S000067945)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000217841 | Class A      | ADVAX           |
| C000217842 | Class I      | ADVNX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Exchange Place Advisors Trust

- **b. Investment Company Act file number:** 811-23373

- **c. CIK number of Registrant:** 0001750821

- **d. LEI of Registrant:** 549300K2CKCXH4E67T58

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

  - **Street Address 1:** 200 West Madison St

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-857-2160

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

- **a. Name of Series:** NORTH SQUARE STRATEGIC INCOME FUND

- **b. EDGAR series identifier (if any):** S000067945

- **c. LEI of Series:** 549300CK62QE77H6G155

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2025-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $750868451.38

**Total Liabilities:** $1790579.24

**Net Assets:** $749077872.14

**Cash Not Reported:** $13097118.05

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 645.46448275 | **1-Year:** 7597.50032461 | **5-Year:** 99313.34115875 | **10-Year:** 131232.26805819 | **30-Year:** 0.88764758

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

- **3-Month:** 883.10815735 | **1-Year:** 4828.47728007 | **5-Year:** 6830.20997206 | **10-Year:** 10504.97208730 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000217841 | -2.34%               | -3.38%               | -2.73%               |
| Class ID C000217842 | 1.47%                | 0.45%                | 1.11%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1961008.85              | $5672373.56                                |
| Month 2  | $1284555.90              | $-1755757.10                               |
| Month 3  | $868655.89               | $4622655.08                                |

**Designated Index Information**

- **Index Name:** NS STRATEGIC INCOME FUND

- **Index Identifier:** 6111

### Schedule of Portfolio Investments

| Name                                                                                     | Title                                                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 3132DQQ33<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2378073 | PA      | $2436944.32   | 0.33%             | 2053-06-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Multifamily Structured Pass Through                       | CUSIP: 3137BRQL2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        | 138912551 | PA      | $636205.59    | 0.08%             | 2026-07-25      | Variable      | 1.17%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 3132DUY76<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1754688 | PA      | $1803132.01   | 0.24%             | 2054-12-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Rogers Communications Inc.                                                               | Rogers Communications Inc                                             | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | US        |   5775000 | PA      | $6115922.16   | 0.82%             | N/A             | Fixed         | 7.13%                 | No            | 2                  | On Loan: No      |
| Bell Canada                                                                              | Bell Telephone Co of Canada                                           | CUSIP: 0778FPAQ2<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4211564.00   | 0.56%             | 2055-09-15      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140W0TW5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8178314 | PA      | $8327956.59   | 1.11%             | 2054-05-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Emera Inc                                                                                | Emera, Inc.                                                           | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |   5436000 | PA      | $5480477.35   | 0.73%             | 2076-06-15      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 31427MMW8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7129059 | PA      | $7164038.04   | 0.96%             | 2054-11-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Banks                                                                  | Freddie Mac Pool                                                      | CUSIP: 3132DT4L1<br>LEI: 2549001DPIFGXC1TOL40 | Long             | ABS-MBS          | USGSE             | US        |   1849600 | PA      | $1907449.39   | 0.25%             | 2053-12-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae-Aces                                                       | CUSIP: 3136BBTB8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    878848 | PA      | $845766.72    | 0.11%             | 2028-09-25      | Fixed         | 0.75%                 | No            | 2                  | On Loan: No      |
| Fnma Pass-Thru I                                                                         | Fannie Mae Pool                                                       | CUSIP: 3140W2UM1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5788117 | PA      | $5695830.06   | 0.76%             | 2053-06-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                                      | Citigroup Commercial Mortgage Trust 2020-555                          | CUSIP: 17328EAQ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  72000000 | PA      | $1985479.20   | 0.27%             | 2029-12-10      | Variable      | 0.74%                 | Yes           | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 3132DQWL6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2758684 | PA      | $2771296.56   | 0.37%             | 2053-06-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Fremf 2012 Kf01 Mortgage Trust                                                           | FREMF 2016-K59 Mortgage Trust                                         | CUSIP: 30295RAN1<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        | 267348419 | PA      | $114425.12    | 0.02%             | 2049-11-25      | Fixed         | 0.10%                 | Yes           | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140XRLD5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7516313 | PA      | $7709826.09   | 1.03%             | 2054-01-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Commercial Mortgage Trust                                                                | COMM 2010-C1 Mortgage Trust                                           | CUSIP: 12622DAK0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6461560 | PA      | $6406024.82   | 0.86%             | 2046-07-10      | Variable      | 5.77%                 | Yes           | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38380RQU7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  48760309 | PA      | $3718880.49   | 0.50%             | 2063-05-16      | Variable      | 0.99%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140W0AN5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    933217 | PA      | $961771.12    | 0.13%             | 2054-11-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Exchange Place Advisors Trust                                                            | North Square RCIM Tax-Advantaged Preferred and Income Securities ETF  | CUSIP: 301471108<br>LEI: 549300K2CKCXH4E67T58 | Long             | EC               | RF                | US        |    271501 | NS      | $6946027.28   | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Kinross Gold Corp.                                                                       | Kinross Gold Corporation                                              | CUSIP: 496902404<br>LEI: 549300UEBMAQDN0K0R06 | Long             | EC               | CORP              | CA        |    241515 | NS      | $6788986.65   | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Long Beach Mortgage Loan Trust                                                           | Long Beach Mortgage Loan Trust 2005-1                                 | CUSIP: 542514KC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    590181 | PA      | $585843.82    | 0.08%             | 2035-02-25      | Floating      | 5.34%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Ginnie Mae II Pool                                                    | CUSIP: 36179WTY4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   7147977 | PA      | $6210531.60   | 0.83%             | 2051-12-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool SD3662                                               | CUSIP: 3132E0B76<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2514411 | PA      | $2564581.40   | 0.34%             | 2053-08-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Ameriquest Mortgage Securities Inc Asset Backed Pass-Through Certificates Series 2005-R7 | Asset-Backed Pass-Through Certs Series 2004-R2                        | CUSIP: 03072SPH2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     24749 | PA      | $24956.24     | 0.00%             | 2034-04-25      | Floating      | 4.71%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38380RL57<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  32300222 | PA      | $2354896.16   | 0.31%             | 2062-10-16      | Variable      | 1.02%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association Agncy CMBS - IO              | CUSIP: 38380PW83<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  53259342 | PA      | $3373942.02   | 0.45%             | 2060-08-16      | Variable      | 0.88%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHLMC Multifamily Structured Pass Through Certs                       | CUSIP: 3137FTG43<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   7570000 | PA      | $525146.80    | 0.07%             | 2030-04-25      | Variable      | 1.80%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 3132DNGZ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7291995 | PA      | $6791850.91   | 0.91%             | 2052-06-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | UMBS Fannie Mae Pool                                                  | CUSIP: 3140NCTZ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2027871 | PA      | $2042333.58   | 0.27%             | 2053-03-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Dominion Energy Inc                                                                      | Dominion Energy Inc                                                   | CUSIP: 25746UEA3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6064267.86   | 0.81%             | 2056-02-15      | Fixed         | 6.20%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38380MYE5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  36157825 | PA      | $3186636.14   | 0.43%             | 2060-11-16      | Variable      | 1.08%                 | No            | 2                  | On Loan: No      |
| NRG Energy, Inc.                                                                         | NRG Energy, Inc.                                                      | CUSIP: 629377CU4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4367812.00   | 0.58%             | N/A             | Fixed         | 10.25%                | Yes           | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Ginnie Mae II Pool                                                    | CUSIP: 36179XS98<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4527055 | PA      | $4188550.79   | 0.56%             | 2053-02-20      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140W1YU1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8645568 | PA      | $7404050.57   | 0.99%             | 2052-06-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage A                                        | CUSIP: 36179XXY7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1911401 | PA      | $1664782.46   | 0.22%             | 2053-04-20      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Citizens Financial Group Inc                                                             | Citizens Financial Group, Inc.                                        | CUSIP: 174610BD6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5919825.00   | 0.79%             | N/A             | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140XLMY1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6809153 | PA      | $6982251.75   | 0.93%             | 2053-06-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | pool # SD8243                                                         | CUSIP: 3132DWEQ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3729329 | PA      | $3457218.22   | 0.46%             | 2052-09-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38380PAJ3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  40297610 | PA      | $2929805.53   | 0.39%             | 2062-01-16      | Variable      | 1.00%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHLMC Multifamily Structured Pass Through Certs                       | CUSIP: 3137BKH29<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  21666516 | PA      | $726356.94    | 0.10%             | 2033-07-25      | Variable      | 0.92%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Ginnie Mae II Pool                                                    | CUSIP: 36179XS72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5231917 | PA      | $4558755.31   | 0.61%             | 2053-02-20      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Lyra Music Assets Del LP                                                                 | Lyra Music Assets Delaware LP                                         | CUSIP: 552339AD5<br>LEI: 9845007N9EAB0C048A12 | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5065760.00   | 0.68%             | 2065-09-20      | Fixed         | 5.60%                 | Yes           | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Ginnie Mae II Pool                                                    | CUSIP: 36179XVM5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2984554 | PA      | $2604239.32   | 0.35%             | 2053-03-20      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| CHICAGO BOARD OF TRADE                                                                   | Bloomberg US Corporate Investment Grade Duration-Hedged Index Futures | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DE               | CORP              | US        |      -150 | NS      | $15427.50     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vistra Corp                                                                              | Vistra Corp                                                           | CUSIP: 92840MAD4<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   5040000 | PA      | $5633530.56   | 0.75%             | N/A             | Fixed         | 8.88%                 | Yes           | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 3132E06G2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4097014 | PA      | $4276385.36   | 0.57%             | 2053-12-01      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140QPR90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1821000 | PA      | $1621766.66   | 0.22%             | 2052-07-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| DATABANK ISSUER II LLC                                                                   | DataBank Issuer II LLC                                                | CUSIP: 23802YAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6975000 | PA      | $6914763.90   | 0.92%             | 2055-09-27      | Fixed         | 5.18%                 | Yes           | 2                  | On Loan: No      |
| Southern Co.                                                                             | Southern Co./The                                                      | CUSIP: 842587EB9<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   6400000 | PA      | $6780614.40   | 0.91%             | 2055-03-15      | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140XRLY9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4440306 | PA      | $4392128.52   | 0.59%             | 2054-08-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Aegis Asset Backed Securities Trust Mortgage Pass Through Certificates Series 2003 3     | Aegis Asset Backed Securities Trust 2005-2                            | CUSIP: 00764MFD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    711823 | PA      | $687289.63    | 0.09%             | 2035-06-25      | Floating      | 4.79%                 | No            | 2                  | On Loan: No      |
| JPMorgan Chase & Co.                                                                     | JPMogan Chase & Co.                                                   | CUSIP: 48128BAN1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6940852.10   | 0.93%             | N/A             | Fixed         | 3.65%                 | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                                                   | CBOT 2 Year US Treasury Note Future 2026-03-31                        | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DCO              | CORP              | US        |       315 | NS      | $-7378.56     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| American Electric Power Co, Inc.                                                         | American Electric Power Co Inc                                        | CUSIP: 025537BA8<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   4782000 | PA      | $5186992.36   | 0.69%             | 2054-12-15      | Fixed         | 6.95%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHLMC Multifamily Structured Pass Through Certs                       | CUSIP: 3137FWHX1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   3332000 | PA      | $221824.57    | 0.03%             | 2030-08-25      | Variable      | 1.60%                 | No            | 2                  | On Loan: No      |
| HSBC Holdings PLC                                                                        | HSBC Holdings PLC                                                     | CUSIP: 404280FA2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   4800000 | PA      | $4983648.00   | 0.67%             | N/A             | Fixed         | 7.05%                 | No            | 2                  | On Loan: No      |
| Olympic Tower Mortgage Trust                                                             | Olympic Tower 2017-OT Mortgage Trust                                  | CUSIP: 68162MAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3349426.50   | 0.45%             | 2039-05-01      | Fixed         | 3.57%                 | Yes           | 2                  | On Loan: No      |
| Citigroup Inc.                                                                           | Citigroup Inc                                                         | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6148320.00   | 0.82%             | N/A             | Fixed         | 6.95%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38380RET3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  47987289 | PA      | $3443241.51   | 0.46%             | 2062-09-16      | Variable      | 1.01%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38381ECT3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  70818216 | PA      | $4123142.79   | 0.55%             | 2061-11-16      | Variable      | 0.81%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHLMC Multifamily Structured Pass Through Certs                       | CUSIP: 3137BXR46<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  30000000 | PA      | $194745.00    | 0.03%             | 2027-03-25      | Variable      | 0.47%                 | No            | 2                  | On Loan: No      |
| Bx Trust 2017-Appl                                                                       | BXP Trust 2017-CQHP                                                   | CUSIP: 12433QAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3880708 | PA      | $3729538.86   | 0.50%             | 2034-11-15      | Floating      | 4.86%                 | Yes           | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae-Aces                                                       | CUSIP: 3136BXNM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |  39751665 | PA      | $1739258.58   | 0.23%             | 2035-08-01      | Variable      | 0.53%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38380RUJ7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  10948638 | PA      | $768996.23    | 0.10%             | 2063-05-16      | Variable      | 0.97%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140QMVA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8544314 | PA      | $7306700.54   | 0.98%             | 2051-12-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| N/A                                                                                      | US BANK MMDA GLOBAL FUND SERVICES 4                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |  35524703 | PA      | $35524702.85  | 4.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Energy Transfer LP                                                                       | Energy Transfer LP                                                    | CUSIP: 29273VAJ9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6519116.50   | 0.87%             | N/A             | Fixed         | 6.63%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 31427QNB4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   9819727 | PA      | $9685319.13   | 1.29%             | 2055-09-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Duke Energy Corp                                                                         | Duke Energy Corp.                                                     | CUSIP: 26441CCG8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4729216.50   | 0.63%             | 2054-09-01      | Fixed         | 6.45%                 | No            | 2                  | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                                              | CME Mexican Peso Currency Future 2025-12-15                           | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Short            | DFE              | CORP              | US        |      -126 | NS      | $-91791.00    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 31418FFZ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8222093 | PA      | $7837776.85   | 1.05%             | 2055-01-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 3133KNQU0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7132606 | PA      | $5839809.35   | 0.78%             | 2052-02-01      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38380P8N7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  19422612 | PA      | $1736868.99   | 0.23%             | 2060-09-16      | Variable      | 1.27%                 | No            | 2                  | On Loan: No      |
| Truist Financial Corp.                                                                   | Truist Financial Corp                                                 | CUSIP: 89832QAF6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7029547.00   | 0.94%             | N/A             | Fixed         | 5.10%                 | No            | 2                  | On Loan: No      |
| Telus Corp.                                                                              | TELUS Corp                                                            | CUSIP: 87971MCL5<br>LEI: L2TEUTQ8OSHMJWVLCE40 | Long             | DBT              | CORP              | US        |   5700000 | PA      | $5844066.08   | 0.78%             | 2055-10-15      | Fixed         | 6.63%                 | No            | 2                  | On Loan: No      |
| South Bow Canadian Infrastructure Holdings Ltd.                                          | South Bow Canadian Infrastructure Holdings Ltd                        | CUSIP: 836720AJ1<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5320690.00   | 0.71%             | 2055-03-01      | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| Agnico Eagle Mines Ltd                                                                   | Agnico Eagle Mines Ltd.                                               | CUSIP: 008474108<br>LEI: YGE0EUBRF7IJOB3QRX76 | Long             | EC               | CORP              | CA        |     34754 | NS      | $6062140.22   | 0.81%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Treasury Notes                                                             | United States Treasury Note                                           | CUSIP: 91282CNT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  19000000 | PA      | $19372578.22  | 2.59%             | 2035-08-15      | Fixed         | 4.25%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 3132DSGN6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4965516 | PA      | $5062928.32   | 0.68%             | 2053-12-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust 2013-C7                               | Morgan Stanley Bank of America Merrill Lynch Trust                    | CUSIP: 61690KAK8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2072014 | PA      | $1971193.75   | 0.26%             | 2046-02-15      | Variable      | 4.04%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool pool # SD6956                                        | CUSIP: 3132DUWR4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3768551 | PA      | $3798297.52   | 0.51%             | 2054-12-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38381MJN1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  29388056 | PA      | $1694006.92   | 0.23%             | 2067-02-16      | Variable      | 0.71%                 | No            | 2                  | On Loan: No      |
| Hi-Fi Music IP Issuer II LP                                                              | HI-FI Music IP Issuer LP                                              | CUSIP: 428357AA5<br>LEI: 635400VMUHJZERQEGT10 | Long             | ABS-O            | CORP              | US        |   3570000 | PA      | $3534175.76   | 0.47%             | 2062-02-01      | Fixed         | 3.94%                 | Yes           | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 3133CWE65<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6802988 | PA      | $6927615.05   | 0.92%             | 2054-09-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 3142GSRU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3539330 | PA      | $3594427.28   | 0.48%             | 2054-09-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital I Trust 2011-C2                                                   | Morgan Stanley Capital I Trust 2011-C2                                | CUSIP: 617459AK8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2433125.00   | 0.32%             | 2044-06-15      | Variable      | 5.21%                 | Yes           | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool pool # SL0538                                        | CUSIP: 31427MS44<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1943403 | PA      | $1982627.59   | 0.26%             | 2055-03-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| UBS Group AG                                                                             | UBS Group AG                                                          | CUSIP: H42097CB1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3634790.00   | 0.49%             | N/A             | Fixed         | 4.38%                 | Yes           | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140B8CQ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6943112 | PA      | $6938767.42   | 0.93%             | 2055-06-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust 2014-C17                              | Morgan Stanley Bank of America Merrill Lynch Tr                       | CUSIP: 61763UAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2169408 | PA      | $2114845.21   | 0.28%             | 2047-08-15      | Fixed         | 3.50%                 | Yes           | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140A04E6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    784548 | PA      | $809511.69    | 0.11%             | 2053-10-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae-Aces                                                       | CUSIP: 3136B7FY2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2642707 | PA      | $81544.16     | 0.01%             | 2029-03-26      | Variable      | 1.24%                 | No            | 2                  | On Loan: No      |
| ZAYO ISSUER LLC                                                                          | Zayo Issuer LLC                                                       | CUSIP: 98919WAN3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6250000 | PA      | $6308243.75   | 0.84%             | 2055-10-20      | Fixed         | 5.57%                 | Yes           | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 3132E02P6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2609548 | PA      | $2711213.11   | 0.36%             | 2053-11-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Svenska Handelsbanken AB                                                                 | Svenska Handelsbanken AB                                              | CUSIP: W9T10ZZQ1<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |   6600000 | PA      | $6270609.58   | 0.84%             | N/A             | Fixed         | 4.75%                 | Yes           | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38380RNX4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  33771702 | PA      | $2703235.64   | 0.36%             | 2061-01-01      | Variable      | 1.05%                 | No            | 2                  | On Loan: No      |
| Wesdome Gold Mines Ltd.                                                                  | Wesdome Gold Mines Ltd.                                               | CUSIP: 95083R100<br>LEI: 529900DCBALMLHZPLR10 | Long             | EC               | CORP              | CA        |    378985 | NS      | $5980383.30   | 0.80%             |  |  |  | No            | 1                  | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                                   | Freddie Mac Multifamily Structured Pass Through                       | CUSIP: 3137HAMT0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        | 120312223 | PA      | $441473.67    | 0.06%             | 2028-09-25      | Variable      | 0.09%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHLMC Multifamily Structured Pass Through Certs                       | CUSIP: 3137F9Z20<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1715000 | PA      | $193043.32    | 0.03%             | 2049-02-25      | Variable      | 2.62%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHLMC Multifamily Structured Pass Through Certs                       | CUSIP: 3137FUZF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1835000 | PA      | $230884.10    | 0.03%             | 2048-04-25      | Variable      | 3.18%                 | No            | 2                  | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                                   | Freddie Mac Multifamily Structured  Pass Through Certificates         | CUSIP: 3137HKXF6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  12044000 | PA      | $631762.00    | 0.08%             | 2032-01-25      | Variable      | 1.18%                 | No            | 2                  | On Loan: No      |
| Newmont Corporation                                                                      | Newmont Corporation                                                   | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     51813 | NS      | $4700993.49   | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Impac CMB Trust                                                                          | Impac CMB Trust Series 2005-4                                         | CUSIP: 45254NPG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    782225 | PA      | $759889.37    | 0.10%             | 2035-05-25      | Floating      | 4.71%                 | No            | 2                  | On Loan: No      |
| KAPITUS ASSET SECURITIZATION IV LLC                                                      | Kapitus Asset Securitization IV LLC                                   | CUSIP: 48555MAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3580000 | PA      | $3602306.98   | 0.48%             | 2031-09-10      | Fixed         | 5.49%                 | Yes           | 2                  | On Loan: No      |
| Impac CMB Trust                                                                          | IMM 2005-1 1A1 VRN  4/25/2035                                         | CUSIP: 45254NML8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    486670 | PA      | $475972.63    | 0.06%             | 2035-04-25      | Floating      | 4.59%                 | No            | 2                  | On Loan: No      |
| CYRUSONE DATA CENTERS ISSUER I LLC                                                       | CyrusOne Data Centers Issuer I LLC                                    | CUSIP: 23284BAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5037000 | PA      | $4943991.80   | 0.66%             | 2029-05-20      | Fixed         | 4.50%                 | Yes           | 2                  | On Loan: No      |
| J P Morgan Mortgage Acquisition Corporation                                              | JP Morgan Mortgage Acquisition Trust 2006-CH1                         | CUSIP: 46629TAH3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     28037 | PA      | $28046.78     | 0.00%             | 2036-07-25      | Floating      | 4.55%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140XDMS2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4893053 | PA      | $4537847.36   | 0.61%             | 2051-10-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHLMC Multifamily Structured Pass Through Certs                       | CUSIP: 3137FAWW4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  30893000 | PA      | $241070.44    | 0.03%             | 2027-08-25      | Variable      | 0.47%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHLMC Multifamily Structured Pass Through Certs                       | CUSIP: 3137FTFU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  36785310 | PA      | $458039.64    | 0.06%             | 2027-01-25      | Variable      | 1.48%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38381MEH9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  56560144 | PA      | $3088591.07   | 0.41%             | 2066-10-16      | Variable      | 0.54%                 | No            | 2                  | On Loan: No      |
| Comm 2015-CCRE23 Mortgage Trust                                                          | COMM 2015-CCRE23 Mortgage Trust                                       | CUSIP: 12593ABF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    483918 | PA      | $470624.26    | 0.06%             | 2048-05-10      | Variable      | 4.21%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140QNYH9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5543656 | PA      | $5168378.53   | 0.69%             | 2052-04-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Centerpoint Energy Inc                                                                   | CenterPoint Energy Inc                                                | CUSIP: 15189TBJ5<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3220281.00   | 0.43%             | 2055-02-15      | Fixed         | 6.85%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Multifamily Structured Pass Through                       | CUSIP: 3137FEBS8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        | 315244893 | PA      | $2177018.18   | 0.29%             | 2027-12-25      | Variable      | 0.36%                 | No            | 2                  | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust 2012-Lc5                                           | Wells Fargo Commercial Mortgage Trust 2017-SMP                        | CUSIP: 95001CAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4448000 | PA      | $4160886.05   | 0.56%             | 2034-12-15      | Variable      | 4.95%                 | Yes           | 2                  | On Loan: No      |
| CSMC 2021-GATE                                                                           | Credit Suisse Mortgage Trust                                          | CUSIP: 12662UAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1886000 | PA      | $1848380.90   | 0.25%             | 2036-12-15      | Floating      | 6.78%                 | Yes           | 2                  | On Loan: No      |
| Morgan Stanley Capital I Trust 2011-C2                                                   | Morgan Stanley Capital I Trust 2011-C2                                | CUSIP: 617459AJ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    445450 | PA      | $442350.46    | 0.06%             | 2044-06-15      | Variable      | 5.21%                 | Yes           | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38381D3P3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  50040078 | PA      | $3142146.59   | 0.42%             | 2063-09-16      | Variable      | 0.88%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 31427QMN9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7549928 | PA      | $7238414.83   | 0.97%             | 2052-09-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust 2012-C5                               | Morgan Stanley Bank of America Merrill Lynch Tr                       | CUSIP: 61761AAJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2896631 | PA      | $2843970.75   | 0.38%             | 2045-08-15      | Variable      | 4.64%                 | Yes           | 2                  | On Loan: No      |
| BXHPP LTD                                                                                | BXHPP Trust 2021-FILM                                                 | CUSIP: 05609JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3373129.55   | 0.45%             | 2036-08-15      | Floating      | 4.72%                 | Yes           | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140MSU52<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2201778 | PA      | $2209134.47   | 0.29%             | 2052-07-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                                   | Freddie Mac Multifamily Structured Pass Through                       | CUSIP: 3137HCKP6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  49208000 | PA      | $1010008.96   | 0.13%             | 2031-02-25      | Variable      | 0.35%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHLMC Multifamily Structured Pass Through Certs                       | CUSIP: 3137FTZU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   7249000 | PA      | $522259.28    | 0.07%             | 2030-04-25      | Variable      | 1.84%                 | No            | 2                  | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                                   | Freddie Mac Multifamily Structured Pass Through Certificates          | CUSIP: 3137HAD94<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        | 125870000 | PA      | $564703.17    | 0.08%             | 2033-05-25      | Variable      | 0.00%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140NKEX5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2561138 | PA      | $2573791.85   | 0.34%             | 2053-06-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Telus Corp.                                                                              | TELUS Corp                                                            | CUSIP: 87971MCM3<br>LEI: L2TEUTQ8OSHMJWVLCE40 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2089190.00   | 0.28%             | 2055-10-15      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                                                   | Ultra 10-Year US Treasury Note Futures 2026-03-20                     | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DCO              | CORP              | US        |       268 | NS      | $75368.30     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Multifamily Structured Pass Through                       | CUSIP: 3137F84U4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  15350000 | PA      | $1664662.99   | 0.22%             | 2030-11-25      | Variable      | 2.63%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 31427MZ38<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  10225612 | PA      | $9529515.11   | 1.27%             | 2052-09-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital I Trust 2011-C2                                                   | Morgan Stanley Capital I Trust 2014-150E                              | CUSIP: 61764BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2800000 | PA      | $2540922.16   | 0.34%             | 2032-09-09      | Fixed         | 3.91%                 | Yes           | 2                  | On Loan: No      |
| Chicago Board of Trade                                                                   | CBOT US Treasure Bond Futures 2026-03-20                              | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DCO              | CORP              | US        |      -359 | NS      | $-115592.30   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| HSI Asset Securitization Corporation Trust                                               | HSI Asset Securitization Corp Trust 2006-OPT3                         | CUSIP: 40430HFM5<br>LEI: 2138004J9K5ER1VNP306 | Long             | ABS-O            | CORP              | US        |     99379 | PA      | $98571.53     | 0.01%             | 2036-02-25      | Floating      | 4.61%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 3133KQPS9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1708565 | PA      | $1678761.06   | 0.22%             | 2053-02-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Citigroup Commercial Mortgage Trust 2015 101A                                            | Citigroup Commercial Mortgage Trust 2015-101A                         | CUSIP: 17290MAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  26130000 | PA      | $2008626.17   | 0.27%             | 2043-01-14      | Variable      | 1.10%                 | Yes           | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHLMC Multifamily Structured Pass Through Certs                       | CUSIP: 3137F84K6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   2750000 | PA      | $301516.05    | 0.04%             | 2049-01-25      | Variable      | 2.63%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140N4NE3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4176298 | PA      | $4109282.24   | 0.55%             | 2052-11-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| American Electric Power Co, Inc.                                                         | American Electric Power Co Inc                                        | CUSIP: 02557TAF6<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3504467.75   | 0.47%             | 2056-03-15      | Fixed         | 6.05%                 | No            | 2                  | On Loan: No      |
| N/A                                                                                      | S&P500 EMINI OPTN Mar26C 7350                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      1375 | NS      | $3729687.50   | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| NextEra Energy Capital Holdings Inc                                                      | NextEra Energy Capital Holdings Inc                                   | CUSIP: 65339KDF4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5823598.00   | 0.78%             | 2055-08-15      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | UMBS Freddie Mac Pool RJ1514                                          | CUSIP: 3132DQAZ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2622916 | PA      | $2687785.48   | 0.36%             | 2054-05-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| RIDE TRUST 2025-SHRE                                                                     | RIDE 2025-SHRE                                                        | CUSIP: 765692AS7<br>LEI: 5493000HCHF3YP6AGZ15 | Long             | ABS-O            | CORP              | US        | 251000000 | PA      | $2515496.90   | 0.34%             | 2047-02-14      | Variable      | 0.28%                 | Yes           | 2                  | On Loan: No      |
| General Motors Financial Company  Inc                                                    | General Motors Financial Co Inc                                       | CUSIP: 37045XCA2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   4416000 | PA      | $4375671.76   | 0.58%             | N/A             | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 31427NW88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4874377 | PA      | $4994226.98   | 0.67%             | 2055-07-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Algonquin Power & Utilities Corporation                                                  | Algonquin Power & Utilities Corp                                      | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | US        |   5467000 | PA      | $5391493.02   | 0.72%             | 2082-01-18      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase Commercial Mortgage Securities Trust                                   | JP Morgan Chase Commercial Mortgage Sec                               | CUSIP: 46637TAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4158506 | PA      | $4129957.61   | 0.55%             | 2030-05-05      | Fixed         | 3.91%                 | Yes           | 2                  | On Loan: No      |
| Chicago Board of Trade                                                                   | Ultra U.S. Treasury Bond Futures 2026-03-20                           | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DCO              | CORP              | US        |       -86 | NS      | $-30349.40    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Government National Mortgage Association                                                 | Ginnie Mae II Pool                                                    | CUSIP: 36179XFE1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2179197 | PA      | $1974873.72   | 0.26%             | 2052-09-20      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Banks                                                                  | Freddie Mac Multifamily Structured Pass Through                       | CUSIP: 3137H4C73<br>LEI: 2549001DPIFGXC1TOL40 | Long             | ABS-O            | USGSE             | US        |  63609547 | PA      | $1623678.21   | 0.22%             | 2031-10-25      | Variable      | 0.53%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae-Aces                                                       | CUSIP: 3136B9EF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   3512395 | PA      | $105456.14    | 0.01%             | 2028-08-25      | Variable      | 1.38%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38381MUE8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  20425150 | PA      | $1205882.45   | 0.16%             | 2067-05-16      | Variable      | 0.60%                 | No            | 2                  | On Loan: No      |
| TransCanada Trust                                                                        | Transcanada Trust                                                     | CUSIP: 89356BAE8<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |   1500000 | PA      | $1489470.00   | 0.20%             | 2079-09-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| NiSource Inc.                                                                            | NiSource Inc                                                          | CUSIP: 65473PAT2<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2073968.00   | 0.28%             | 2055-03-31      | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| Royal Bank of Canada                                                                     | Royal Bank of Canada                                                  | CUSIP: 780082AY9<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   5000000 | PA      | $4983651.00   | 0.67%             | 2085-11-24      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Fnma Pass-Thru I                                                                         | Fannie Mae Pool                                                       | CUSIP: 3140W2CS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4620887 | PA      | $4641038.05   | 0.62%             | 2055-06-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Bank of America Corp.                                                                    | Bank of America Corp.                                                 | CUSIP: 060505FL3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5050120.00   | 0.67%             | N/A             | Fixed         | 5.88%                 | No            | 2                  | On Loan: No      |
| New Gold, Inc.                                                                           | New Gold, Inc.                                                        | CUSIP: 644535106<br>LEI: 5493005G0GNCHP0H6L96 | Long             | EC               | CORP              | CA        |    849233 | NS      | $7091095.55   | 0.95%             |  |  |  | No            | 1                  | On Loan: No      |
| Wells Fargo Mortgage Backed Securities 2006 Ar2 Trust                                    | Wells Fargo Commercial Mortgage Trust 2014-LC18                       | CUSIP: 94989ABA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1473458 | PA      | $1448423.15   | 0.19%             | 2047-12-15      | Variable      | 4.19%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Banks                                                                  | FHLMC Multifamily Structured Pass Through Certs                       | CUSIP: 3137H5FY8<br>LEI: 2549001DPIFGXC1TOL40 | Long             | ABS-O            | USGSE             | US        |    469456 | PA      | $453208.61    | 0.06%             | 2027-12-25      | Fixed         | 1.68%                 | No            | 2                  | On Loan: No      |
| GS Mortgage Securities Trust 2015-Gs1                                                    | GS Mortgage Securities Trust 2015-GC32                                | CUSIP: 36250PAP0<br>LEI: 549300WZ62L3Y22NOZ64 | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2919720.90   | 0.39%             | 2048-07-10      | Variable      | 4.34%                 | Yes           | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Multifamily Structured Pass Through                       | CUSIP: 3137FXQS0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   3455000 | PA      | $395203.28    | 0.05%             | 2030-10-25      | Variable      | 2.73%                 | No            | 2                  | On Loan: No      |
| Wells Fargo Commercial Mortgage                                                          | Wells Fargo Commercial Mortgage Trust 2015-C29                        | CUSIP: 94989KBC6<br>LEI: 549300NYO16WLNMVJJ46 | Long             | ABS-O            | CORP              | US        |   1751924 | PA      | $1703693.22   | 0.23%             | 2048-06-01      | Variable      | 4.21%                 | No            | 2                  | On Loan: No      |
| Altagas Ltd                                                                              | AltaGas Ltd                                                           | CUSIP: 021361AD2<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | US        |   4550000 | PA      | $4710587.70   | 0.63%             | 2054-10-15      | Fixed         | 7.20%                 | Yes           | 2                  | On Loan: No      |
| Enbridge Inc.                                                                            | Enbridge Inc                                                          | CUSIP: 29250NCF0<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | US        |   2050000 | PA      | $2198881.25   | 0.29%             | 2054-06-27      | Fixed         | 7.20%                 | No            | 2                  | On Loan: No      |
| Enbridge Inc.                                                                            | Enbridge Inc                                                          | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   4000000 | PA      | $4056444.00   | 0.54%             | 2080-07-15      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHLMC Multifamily Structured Pass Through Certs                       | CUSIP: 3137BPCR8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   2602536 | PA      | $642.57       | 0.00%             | 2026-01-25      | Variable      | 1.01%                 | No            | 2                  | On Loan: No      |
| FMC Corp.                                                                                | FMC Corp                                                              | CUSIP: 302491AZ8<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |   5250000 | PA      | $4091838.45   | 0.55%             | 2055-11-01      | Fixed         | 8.45%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 3132DUQR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   8646656 | PA      | $8665753.04   | 1.16%             | 2054-11-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage A                                        | CUSIP: 36179XBP0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1985630 | PA      | $1657247.18   | 0.22%             | 2052-07-20      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| Nordea Bank ABP                                                                          | Nordea Bank Abp                                                       | CUSIP: 65558RAQ2<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | US        |   6800000 | PA      | $6959024.80   | 0.93%             | 2088-11-10      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 3132DQPP5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1548950 | PA      | $1578258.09   | 0.21%             | 2053-06-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE (FLOOR)                                                      | CME E-Mini Standard & Poor's 500 Index Future 2025-12-19              | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Short            | DE               | CORP              | US        |      -220 | NS      | $-316091.23   | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Phillips 66 Co.                                                                          | Phillips 66 Co 5.875 03/15/56 A                                       | CUSIP: 718547AZ5<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1971070.20   | 0.26%             | 2056-03-15      | Fixed         | 5.87%                 | No            | 2                  | On Loan: No      |
| Phillips 66 Co.                                                                          | Phillips 66 Co                                                        | CUSIP: 718547BA9<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6012078.00   | 0.80%             | 2056-03-15      | Fixed         | 6.20%                 | No            | 2                  | On Loan: No      |
| Mexico (United Mexican States)                                                           | Mexican Bonos                                                         | CUSIP: P4R07XP34<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        | 125000000 | PA      | $6676397.72   | 0.89%             | 2027-03-04      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 3133KPDE5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3940509 | PA      | $3777564.39   | 0.50%             | 2052-05-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140XHB30<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2348091 | PA      | $2020133.88   | 0.27%             | 2052-05-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140A1VM6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3000431 | PA      | $3077641.08   | 0.41%             | 2053-10-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Wells Fargo & Co.                                                                        | Wells Fargo & Co.                                                     | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3984541.20   | 0.53%             | N/A             | Fixed         | 3.90%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Banks                                                                  | FHLMC Multifamily Structured Pass Through Certs                       | CUSIP: 3137H2P57<br>LEI: 2549001DPIFGXC1TOL40 | Long             | ABS-O            | USGSE             | US        |  15695757 | PA      | $720308.10    | 0.10%             | 2029-04-27      | Variable      | 2.01%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Ginnie Mae II Pool                                                    | CUSIP: 36179XDB9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1633335 | PA      | $1478177.17   | 0.20%             | 2052-08-20      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Ginnie Mae II Pool                                                    | CUSIP: 36179YSZ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4472176 | PA      | $4058512.53   | 0.54%             | 2054-03-20      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38379RWL3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1210595 | PA      | $55794.86     | 0.01%             | 2056-12-16      | Variable      | 0.74%                 | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                                                   | CBOT 10 Year US Treasury Note 2026-03-20                              | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DCO              | CORP              | US        |       619 | NS      | $-38718.45    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Applebees's Funding LLC / IHOP Funding LLC                                               | Applebee's Funding LLC / IHOP Funding LLC                             | CUSIP: 03789XAH1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5720000 | PA      | $5770501.88   | 0.77%             | 2055-06-07      | Fixed         | 6.72%                 | Yes           | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38381DW22<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  42525663 | PA      | $3159754.58   | 0.42%             | 2063-05-16      | Variable      | 0.99%                 | No            | 2                  | On Loan: No      |
| Alamos Gold Inc.                                                                         | Alamos Gold, Inc.                                                     | CUSIP: 011532108<br>LEI: 549300TDOX73YGYXE959 | Long             | EC               | CORP              | CA        |    184573 | NS      | $6921487.50   | 0.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Federal National Mortgage Association                                                    | UMBS Fannie Mae Pool CB6725                                           | CUSIP: 3140XJKB8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3565127 | PA      | $3516442.36   | 0.47%             | 2053-07-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| N/A                                                                                      | CDX.NA.IG SERIES 45                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DCR              | CORP              | US        | 375000000 | PA      | $-9157906.52  | -1.22%            |  |  |  | No            | N/A                | On Loan: No      |
| CMS Energy Corporation                                                                   | CMS Energy Corp                                                       | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |   4721000 | PA      | $4621770.72   | 0.62%             | 2050-06-01      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| Orla Mining Ltd New                                                                      | Orla Mining Ltd.                                                      | CUSIP: 68634K106<br>LEI: 529900DU63EUQ1UZKL30 | Long             | EC               | CORP              | CA        |    212526 | NS      | $2996616.60   | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Multiclass Certs Series 2015-P001                         | CUSIP: 3137FQXU2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   7690000 | PA      | $292130.03    | 0.04%             | 2028-10-27      | Variable      | 1.83%                 | No            | 2                  | On Loan: No      |
| Homebanc Mortgage Trust 2006 1                                                           | HomeBanc Mortgage Trust 2005-3                                        | CUSIP: 43739EBP1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4485352 | PA      | $4521095.86   | 0.60%             | 2035-07-25      | Floating      | 5.00%                 | No            | 2                  | On Loan: No      |
| Commercial Mortgage Trust                                                                | COMM 2013-CCRE7 Mortgage Trust                                        | CUSIP: 12625FBC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $326141.20    | 0.04%             | 2046-03-10      | Variable      | 4.24%                 | Yes           | 2                  | On Loan: No      |
| Government National Mortgage Association                                                 | Government National Mortgage Association                              | CUSIP: 38381LYP1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  14079348 | PA      | $891739.44    | 0.12%             | 2066-07-16      | Variable      | 0.68%                 | No            | 2                  | On Loan: No      |
| Exelon Corp.                                                                             | Exelon Corp                                                           | CUSIP: 30161NBQ3<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |   9700000 | PA      | $10150939.32  | 1.36%             | 2055-03-15      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Huntington Bancshares Incorporated                                                       | Huntington Bancshares Inc/OH                                          | CUSIP: 446150BG8<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5924176.20   | 0.79%             | 2080-10-15      | Fixed         | 6.35%                 | No            | 2                  | On Loan: No      |
| FBR Securitization Trust                                                                 | FBR Securitization Trust                                              | CUSIP: 30246QCQ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    484634 | PA      | $482164.44    | 0.06%             | 2035-11-26      | Floating      | 4.77%                 | No            | 2                  | On Loan: No      |
| NiSource Inc.                                                                            | NiSource Inc                                                          | CUSIP: 65473PAY1<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3036162.99   | 0.41%             | 2056-07-15      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| The Charles Schwab Corporation                                                           | Charles Schwab Corp./The                                              | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   5805000 | PA      | $5415338.79   | 0.72%             | N/A             | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | Freddie Mac Pool                                                      | CUSIP: 3133KNXA6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4100736 | PA      | $3352525.61   | 0.45%             | 2052-03-01      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| Paramount Global                                                                         | Paramount Global                                                      | CUSIP: 92553PBC5<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |   3100000 | PA      | $3020640.00   | 0.40%             | 2057-02-28      | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| Renaissance Mortgage Acceptance Corp.                                                    | Renaissance Home Equity Loan Trust 2005-3                             | CUSIP: 75970NBE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    209861 | PA      | $209971.92    | 0.03%             | 2035-11-25      | Variable      | 5.14%                 | No            | 2                  | On Loan: No      |
| JP Morgan Acceptance Corp. 2007 Ch3                                                      | JP Morgan Mortgage Acquisition Trust 2007-CH3                         | CUSIP: 46630XAF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    238263 | PA      | $237010.31    | 0.03%             | 2037-03-25      | Floating      | 4.33%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140XJ2L6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3278615 | PA      | $2919398.98   | 0.39%             | 2051-12-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Federal National Mortgage Association                                                    | Fannie Mae Pool                                                       | CUSIP: 3140QTBF5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7181440 | PA      | $7317313.62   | 0.98%             | 2053-10-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley Bank Of America Merrill Lynch Trust                                       | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C26           | CUSIP: 61690VAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $4813112.50   | 0.64%             | 2048-10-01      | Fixed         | 3.06%                 | Yes           | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2025-11-30

**Name of Applicant:** Exchange Place Advisors Trust

**Signature:** Zachary Richmond

**Name of Signer:** Zachary Richmond

**Title:** Treasurer