# EDGAR Filing Document

**Accession Number:** 0001342947
**File Stem:** 0001003715-25-000655
**Filing Date:** 2025-9
**Character Count:** 273867
**Document Hash:** 7d974a35130c60f6f6bfa7cb1df17b4e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001003715-25-000655.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0001003715-25-000655

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BBH Trust
- **CENTRAL INDEX KEY:** 0001342947

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21829
- **FILM NUMBER:** 251341194

**BUSINESS ADDRESS:**
- **STREET 1:** 140 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10005
- **BUSINESS PHONE:** 800-575-1265

**MAIL ADDRESS:**
- **STREET 1:** 140 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10005

## Series and Classes Contracts Data

### BBH Limited Duration Fund (Series ID: S000015110)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000041213 | Class N Shares | BBBMX           |
| C000041214 | Class I Shares | BBBIX           |

## Nport-Ex

**BBH Limited Duration Fund**

**Portfolio of Investments**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal<br> Amount |  | Maturity<br> Date | Interest<br> Rate | Value |
|  | **Asset Backed Securities (21.3%)** |  |  |  |
| $15160000 | AGL CLO 13, Ltd. 2021-13A (3-Month CME Term SOFR + 1.100%) (Cayman Islands)<sup>1,2</sup> | 10/20/34 | 0.000% | $15160000 |
| 6459966 | AIM Aviation Finance, Ltd. 2015-1A (China)<sup>1</sup> | 02/15/40 | 6.213 | 6201696 |
| 7555000 | Aligned Data Centers Issuer LLC 2023-1A<sup>1</sup> | 08/17/48 | 6.000 | 7594788 |
| 3353501 | Amur Equipment Finance Receivables XII LLC 2023-1A<sup>1</sup> | 12/20/29 | 6.090 | 3381660 |
| 13676824 | Amur Equipment Finance Receivables XIII LLC 2024-1A<sup>1</sup> | 01/21/31 | 5.380 | 13781468 |
| 16511667 | Amur Equipment Finance Receivables XIV LLC 2024-2A<sup>1</sup> | 07/21/31 | 5.190 | 16614957 |
| 11250000 | Amur Equipment Finance Receivables XV LLC 2025-1A<sup>1</sup> | 09/22/31 | 4.700 | 11295266 |
| 4507165 | ARI Fleet Lease Trust 2023-B<sup>1</sup> | 07/15/32 | 6.050 | 4540220 |
| 11330000 | ARI Fleet Lease Trust 2025-B<sup>1</sup> | 03/15/34 | 4.590 | 11342954 |
| 12750000 | AutoNation Finance Trust 2025-1A<sup>1</sup> | 04/10/28 | 4.720 | 12761516 |
| 11930000 | Avis Budget Rental Car Funding AESOP LLC 2023-3A<sup>1</sup> | 02/22/28 | 5.440 | 12039519 |
| 9500000 | Avis Budget Rental Car Funding AESOP LLC 2023-7A<sup>1</sup> | 08/21/28 | 5.900 | 9707440 |
| 9860000 | Barings Equipment Finance LLC 2025-A<sup>1</sup> | 10/13/28 | 4.640 | 9863822 |
| 33270000 | BHG Owner Loan Trust Series 2025-1CON<sup>1,3</sup> | 08/18/36 | 0.000 | 33166863 |
| 3285595 | BHG Securitization Trust 2023-A<sup>1</sup> | 04/17/36 | 5.550 | 3291188 |
| 3285276 | BHG Securitization Trust 2023-B<sup>1</sup> | 12/17/36 | 6.920 | 3393925 |
| 4086697 | BHG Securitization Trust 2024-1CON<sup>1</sup> | 04/17/35 | 5.810 | 4171387 |
| 24170000 | BHG Securitization Trust 2025-2CON<sup>1</sup> | 09/17/36 | 4.840 | 24167624 |
| 12406903 | BlackRock Elbert CLO V LLC 5A (3-Month CME Term SOFR +1.850%)<sup>1,2</sup> | 06/15/34 | 6.168 | 12423880 |
| 6019476 | Business Jet Securities LLC 2022-1A<sup>1</sup> | 06/15/37 | 4.455 | 5892257 |
| 37127914 | California Street CLO IX LP 2012-9A (3-Month CME Term SOFR + 1.362%) (Cayman Islands)<sup>1,2</sup> | 07/16/32 | 5.679 | 37180335 |
| 10791733 | Capital Automotive REIT 2024-2A<sup>1</sup> | 05/15/54 | 4.900 | 10713310 |
| 30000000 | Carlyle Global Market Strategies CLO, Ltd. 2016-1A (3-Month CME Term SOFR + 1.090%) (Cayman Islands)<sup>1,2</sup> | 04/20/34 | 5.415 | 30052749 |
| 32520000 | Carlyle US CLO, Ltd. 2019-2A (3-Month CME Term SOFR + 1.360%) (Cayman Islands)<sup>1,2</sup> | 10/15/37 | 5.678 | 32611089 |
| 20690000 | Carmax Auto Owner Trust 2025-2 | 07/17/28 | 4.590 | 20732584 |
| 9716442 | CARS-DB7 LP 2023-1A<sup>1</sup> | 09/15/53 | 5.750 | 9761121 |
| 4109239 | CCG Receivables Trust 2023-2<sup>1</sup> | 04/14/32 | 6.280 | 4149212 |
| 19839915 | CCG Receivables Trust 2024-1<sup>1</sup> | 03/15/32 | 4.990 | 19934639 |
| 20650000 | CCG Receivables Trust 2025-1<sup>1</sup> | 10/14/32 | 4.480 | 20679197 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal<br> Amount |  | Maturity<br> Date | Interest<br> Rate | Value |
|  | **Asset Backed Securities (continued)** |  |  |  |
| $22918037 | CF Hippolyta Issuer LLC 2020-1<sup>1</sup> | 07/15/60 | 1.690% | $19658084 |
| 5519080 | Chesapeake Funding II LLC 2023-1A<sup>1</sup> | 05/15/35 | 5.650 | 5547900 |
| 4536431 | Chesapeake Funding II LLC 2023-2A<sup>1</sup> | 10/15/35 | 6.160 | 4587808 |
| 6470000 | Credit Acceptance Auto Loan Trust 2023-1A<sup>1</sup> | 07/15/33 | 7.710 | 6618517 |
| 18320000 | Credit Acceptance Auto Loan Trust 2024-2A<sup>1</sup> | 06/15/34 | 5.950 | 18639972 |
| 17680000 | Credit Acceptance Auto Loan Trust 2024-3A<sup>1</sup> | 09/15/34 | 4.680 | 17680400 |
| 17180000 | Credit Acceptance Auto Loan Trust 2025-1A<sup>1</sup> | 03/15/35 | 5.020 | 17293080 |
| 7390694 | Daimler Trucks Retail Trust 2023-1 | 03/15/27 | 5.900 | 7430254 |
| 11100000 | Deerpath Capital CLO, Ltd. 2022-1A (3-Month CME Term SOFR + 1.700%)<sup>1,2</sup> | 01/15/37 | 6.018 | 11110505 |
| 8190000 | Dell Equipment Finance Trust 2025-1<sup>1</sup> | 07/22/27 | 4.680 | 8206039 |
| 2139845 | ECAF I, Ltd. 2015-1A (Ireland)<sup>1</sup> | 06/15/40 | 3.473 | 1840164 |
| 1426555 | Elm Trust 2020-3A<sup>1</sup> | 08/20/29 | 2.954 | 1422941 |
| 3273937 | Enterprise Fleet Financing LLC 2022-4<sup>1</sup> | 10/22/29 | 5.760 | 3284634 |
| 6216844 | Enterprise Fleet Financing LLC 2023-3<sup>1</sup> | 03/20/30 | 6.400 | 6301942 |
| 18000000 | Enterprise Fleet Financing LLC 2025-2<sup>1</sup> | 02/22/28 | 4.510 | 18000646 |
| 9600000 | Enterprise Fleet Financing LLC 2025-3<sup>1</sup> | 04/20/28 | 4.500 | 9615341 |
| 13000000 | Exeter Automobile Receivables Trust 2025-1A | 08/15/28 | 4.670 | 12998210 |
| 10230000 | Exeter Automobile Receivables Trust 2025-1A | 08/15/29 | 4.910 | 10260296 |
| 13560000 | Exeter Automobile Receivables Trust 2025-3A | 07/16/29 | 4.780 | 13602144 |
| 13139485 | FCI Funding LLC 2024-1A<sup>1</sup> | 08/15/36 | 5.440 | 13109580 |
| 50300000 | Flexential Issuer 2021-1A<sup>1</sup> | 11/27/51 | 3.250 | 48571290 |
| 5301511 | FNA LLC 2019-1<sup>1,2,4,5</sup> | 12/10/31 | 3.000 | 5288257 |
| 10940000 | Ford Credit Floorplan Master Owner Trust A 2023-1<sup>1</sup> | 05/15/28 | 4.920 | 10973884 |
| 30550000 | Ford Credit Floorplan Master Owner Trust A 2024-3<sup>1</sup> | 09/15/29 | 4.300 | 30482075 |
| 20530000 | Ford Credit Floorplan Master Owner Trust A 2025-1 | 04/15/30 | 4.630 | 20673240 |
| 6388202 | Foursight Capital Automobile Receivables Trust 2024-1<sup>1</sup> | 01/16/29 | 5.490 | 6409178 |
| 13377131 | Global SC Finance VII Srl 2020-1A (Barbados)<sup>1</sup> | 10/17/40 | 2.170 | 12724951 |
| 13953626 | Global SC Finance VII Srl 2020-2A (Barbados)<sup>1</sup> | 11/19/40 | 2.260 | 13219050 |
| 9862744 | GLS Auto Select Receivables Trust 2025-1A<sup>1</sup> | 04/15/30 | 4.710 | 9865109 |
| 15000000 | GLS Auto Select Receivables Trust 2025-3A<sup>1</sup> | 10/15/30 | 4.460 | 14984603 |
| 9730000 | GM Financial Consumer Automobile Receivables Trust 2025-2 | 02/16/28 | 4.400 | 9724786 |
| 10900000 | GM Financial Revolving Receivables Trust 2023-2<sup>1</sup> | 08/11/36 | 5.770 | 11372724 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal<br> Amount |  | Maturity<br> Date | Interest<br> Rate | Value |
|  | **Asset Backed Securities (continued)** |  |  |  |
| $28000000 | GMF Floorplan Owner Revolving Trust 2025-2A<sup>1</sup> | 03/15/30 | 4.640% | $28188877 |
| 50000000 | Goldentree Loan Management US CLO 6, Ltd. 2019-6A (3-Month CME Term SOFR + 0.970%) (Cayman Islands)<sup>1,2</sup> | 04/20/35 | 5.295 | 49759470 |
| 40343540 | Golub Capital Partners ABS Funding, Ltd. 2021-2A<sup>1</sup> | 10/19/29 | 2.944 | 39319068 |
| 20210000 | Hertz Vehicle Financing III LLC 2025-1A<sup>1</sup> | 09/25/29 | 4.910 | 20165039 |
| 24730000 | Honda Auto Receivables Owner Trust 2025-2 | 01/18/28 | 4.300 | 24712204 |
| 8634 | HPEFS Equipment Trust 2023-2A<sup>1</sup> | 01/21/31 | 6.040 | 8639 |
| 9275000 | Kubota Credit Owner Trust 2024-1A<sup>1</sup> | 07/17/28 | 5.190 | 9376070 |
| 29890000 | Lendmark Funding Trust 2025-1A<sup>1</sup> | 09/20/34 | 4.940 | 30015105 |
| 38520000 | Madison Park Funding LXIII, Ltd. 2023-63A (3-Month CME Term SOFR + 1.400%) (Cayman Islands)<sup>1,2</sup> | 07/21/38 | 5.725 | 38673826 |
| 50000000 | Madison Park Funding XLIX, Ltd. 2021- 49A (3-Month CME Term SOFR + 1.050%) (Cayman Islands)<sup>1,2</sup> | 10/19/34 | 5.375 | 49974035 |
| 14800000 | Mariner Finance Issuance Trust 2023-AA<sup>1</sup> | 10/22/35 | 6.700 | 14888486 |
| 14700000 | Mariner Finance Issuance Trust 2025-AA<sup>1</sup> | 05/20/38 | 4.980 | 14815898 |
| 32756536 | Monroe Capital Income Plus ABS Funding LLC 2022-1A<sup>1</sup> | 04/30/32 | 4.050 | 31977228 |
| 11780000 | Monroe Capital Mml CLO X, Ltd. 2020-1A (3-Month CME Term SOFR + 1.670%)<sup>1,2</sup> | 08/20/37 | 5.984 | 11833010 |
| 10242000 | Navistar Financial Dealer Note Master Owner Trust 2024-1<sup>1</sup> | 04/25/29 | 5.590 | 10307037 |
| 45592346 | Neuberger Berman Loan Advisers CLO 34, Ltd. 2019-34A (3-Month CME Term SOFR + 1.240%) (Cayman Islands)<sup>1,2</sup> | 01/20/35 | 5.565 | 45592346 |
| 52000000 | Neuberger Berman Loan Advisers CLO 38, Ltd. 2020-38A (3-Month CME Term SOFR + 0.960%) (Cayman Islands)<sup>1,2</sup> | 10/20/36 | 5.285 | 52026406 |
| 24520000 | NextGear Floorplan Master Owner Trust 2024-1A<sup>1</sup> | 03/15/29 | 5.120 | 24770734 |
| 27500000 | NextGear Floorplan Master Owner Trust 2024-2A<sup>1</sup> | 09/15/29 | 4.420 | 27483266 |
| 5926501 | Nissan Auto Receivables Owner Trust 2023-B | 03/15/28 | 5.930 | 5971044 |
| 5036143 | NMEF Funding LLC 2023-A<sup>1</sup> | 06/17/30 | 6.570 | 5064042 |
| 11090000 | NMEF Funding LLC 2025-A<sup>1</sup> | 07/15/32 | 4.720 | 11086275 |
| 24711461 | Northwoods Capital XVIII, Ltd. 2019-18A (3-Month CME Term SOFR + 1.362%) (Cayman Islands)<sup>1,2</sup> | 05/20/32 | 5.684 | 24734236 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal<br> Amount |  | Maturity<br> Date | Interest<br> Rate | Value |
|  | **Asset Backed Securities (continued)** |  |  |  |
| $48100000 | Octagon Investment Partners 41, Ltd. 2019-2A (3-Month CME Term SOFR + 1.090%) (Cayman Islands)<sup>1,2</sup> | 10/15/33 | 5.408% | $48086234 |
| 32100000 | OnDeck Asset Securitization IV LLC 2025-1A<sup>1</sup> | 04/19/32 | 5.080 | 31775437 |
| 14337000 | OnDeck Asset Securitization Trust IV LLC 2023-1A<sup>1</sup> | 08/19/30 | 7.000 | 14476647 |
| 19615000 | OnDeck Asset Securitization Trust IV LLC 2024-1A<sup>1</sup> | 06/17/31 | 6.270 | 19761328 |
| 13920000 | OnDeck Asset Securitization Trust IV LLC 2024-2A<sup>1</sup> | 10/17/31 | 4.980 | 13819219 |
| 25010000 | Onemain Financial Issuance Trust 2025-1A<sup>1</sup> | 07/14/38 | 4.820 | 25057887 |
| 7836418 | OneMain Financial Issuance Trust 2022-3A<sup>1</sup> | 05/15/34 | 5.940 | 7873573 |
| 10455037 | OneMain Financial Issuance Trust 2022-S1<sup>1</sup> | 05/14/35 | 4.130 | 10418877 |
| 16380000 | OneMain Financial Issuance Trust 2023-2A<sup>1</sup> | 09/15/36 | 5.840 | 16687326 |
| 29801671 | Oportun Issuance Trust 2021-C<sup>1</sup> | 10/08/31 | 2.180 | 29106049 |
| 2970982 | Oportun Issuance Trust 2022-A<sup>1</sup> | 06/09/31 | 5.050 | 2969381 |
| 3889417 | Oportun Issuance Trust 2024-2<sup>1</sup> | 02/09/32 | 5.860 | 3892503 |
| 33240000 | Oportun Issuance Trust 2025-B<sup>1</sup> | 05/09/33 | 4.880 | 33272492 |
| 14525252 | Oxford Finance Funding LLC 2022-1A<sup>1</sup> | 02/15/30 | 3.602 | 14337501 |
| 4072817 | Palmer Square Loan Funding, Ltd. 2022-1A (3-Month CME Term SOFR + 1.050%) (Cayman Islands)<sup>1,2</sup> | 04/15/30 | 5.368 | 4069242 |
| 411770 | Parliament CLO II, Ltd. 2021-2A (3-Month CME Term SOFR + 1.612%) (Cayman Islands)<sup>1,2</sup> | 08/20/32 | 5.934 | 411842 |
| 9810000 | PFS Financing Corp. 2023-A<sup>1</sup> | 03/15/28 | 5.800 | 9875872 |
| 14090000 | PFS Financing Corp. 2025-A (30-Day SOFR + 0.650%)<sup>1,2</sup> | 01/15/29 | 4.990 | 14083366 |
| 12690000 | PFS Financing Corp. 2025-B<sup>1</sup> | 02/15/30 | 4.850 | 12803261 |
| 23860000 | PFS Financing Corp. 2025-D<sup>1</sup> | 05/15/30 | 4.470 | 23851859 |
| 31020000 | Purchasing Power Funding LLC 2024-A<sup>1</sup> | 08/15/28 | 5.890 | 31106881 |
| 30830000 | Regional Management Issuance Trust 2025-1<sup>1</sup> | 04/17/34 | 4.990 | 30949879 |
| 12924900 | Republic Finance Issuance Trust 2021-A<sup>1</sup> | 12/22/31 | 2.300 | 12859855 |
| 21950000 | Republic Finance Issuance Trust 2024-B<sup>1</sup> | 11/20/37 | 5.420 | 22175598 |
| 23320000 | Retained Vantage Data Centers Issuer LLC 2023-1A<sup>1</sup> | 09/15/48 | 5.000 | 22997760 |
| 26350000 | Santander Drive Auto Receivables Trust 2025-2 | 08/15/29 | 4.670 | 26421040 |
| 6544852 | Shenton Aircraft Investment I, Ltd. 2015-1A (Cayman Islands)<sup>1</sup> | 10/15/42 | 4.750 | 6324290 |
| 24210000 | Sotheby's Artfi Master Trust 2024-1A<sup>1</sup> | 12/22/31 | 6.430 | 24361557 |
| 2218333 | TierPoint Issuer LLC 2023-1A<sup>1</sup> | 06/25/53 | 6.000 | 2217072 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal<br> Amount |  | Maturity<br> Date | Interest<br> Rate | Value |
|  | **Asset Backed Securities (continued)** |  |  |  |
| $12345000 | T-Mobile US Trust 2024-1A<sup>1</sup> | 09/20/29 | 5.050% | $12413602 |
| 14240000 | Toyota Lease Owner Trust 2025-A<sup>1</sup> | 02/22/28 | 4.750 | 14333874 |
| 12920000 | Vantage Data Centers Issuer LLC 2023-1A<sup>1</sup> | 03/16/48 | 6.316 | 12969013 |
| 17610000 | Verizon Master Trust 2025-3 | 03/20/30 | 4.510 | 17622059 |
| 1577742 | VFI ABS LLC 2023-1A<sup>1</sup> | 03/26/29 | 7.270 | 1584472 |
| 7040000 | Westlake Automobile Receivables Trust 2023-4A<sup>1</sup> | 11/15/28 | 6.640 | 7197788 |
| 8663296 | Wheels Fleet Lease Funding 1 LLC 2023-1A<sup>1</sup> | 04/18/38 | 5.800 | 8710767 |
| 6840291 | Wheels Fleet Lease Funding 1 LLC 2023-2A<sup>1</sup> | 08/18/38 | 6.460 | 6924100 |
| 33980000 | Wheels Fleet Lease Funding 1 LLC 2025-1A<sup>1</sup> | 01/18/40 | 4.570 | 34035860 |
| 32195000 | World Financial Network Credit Card Master Note Trust 2024-B | 05/15/31 | 4.620 | 32306276 |
| 11295000 | World Financial Network Credit Card Master Trust 2023-A | 03/15/30 | 5.020 | 11340762 |
|  | **Total Asset Backed Securities <br> (Cost $2,056,494,535)** |  |  | **2054329012** |
|  | **Commercial Mortgage Backed Securities (3.8%)** |  |  |  |
| 22409647 | BB-UBS Trust 2012-TFT<sup>1,2,4</sup> | 06/05/30 | 3.678 | 21513037 |
| 9350000 | BLP Commercial Mortgage Trust 2023-IND (1-Month CME Term SOFR + 1.692%)<sup>1,2</sup> | 03/15/40 | 6.034 | 9352922 |
| 18100000 | BX Commercial Mortgage Trust 2022-CSMO (1-Month CME Term SOFR + 2.115%)<sup>1,2</sup> | 06/15/27 | 6.457 | 18201812 |
| 29177233 | BX Commercial Mortgage Trust 2022-LP2 (1-Month CME Term SOFR + 1.013%)<sup>1,2</sup> | 02/15/39 | 5.355 | 29207440 |
| 21220000 | BX Commercial Mortgage Trust 2024-GPA2 (1-Month CME Term SOFR + 1.542%)<sup>1,2</sup> | 11/15/41 | 5.884 | 21273050 |
| 22820000 | BX Trust 2025-LUNR (1-Month CME Term SOFR + 1.500%)<sup>1,2</sup> | 06/15/40 | 5.842 | 22888412 |
| 28200016 | BX Trust 2025-ROIC (1-Month CME Term SOFR + 1.144%)<sup>1,2</sup> | 03/15/30 | 5.486 | 28147132 |
| 6309419 | BXMT, Ltd. 2020-FL2 (1-Month CME Term SOFR + 1.264%) (Cayman Islands)<sup>1,2</sup> | 02/15/38 | 5.608 | 6273566 |
| 6949731 | BXMT, Ltd. 2020-FL3 (1-Month CME Term SOFR + 2.014%) (Cayman Islands)<sup>1,2</sup> | 11/15/37 | 6.358 | 6941118 |
| 10854327 | BXMT, Ltd. 2021-FL4 (1-Month CME Term SOFR + 1.164%)<sup>1,2</sup> | 05/15/38 | 5.508 | 10787553 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal <br>Amount |  | Maturity <br>Date | Interest <br>Rate | Value |
|  | **Commercial Mortgage Backed Securities (continued)** |  |  |  |
| $23002792 | CG-CCRE Commercial Mortgage Trust 2014-FL2 (1-Month CME Term SOFR + 3.014%)<sup>1,2</sup> | 11/15/31 | 7.356% | $18533766 |
| 18875000 | COMM Mortgage Trust 2025-SBX<sup>1,2,4</sup> | 08/10/41 | 5.432 | 18875000 |
| 11715000 | Commercial Mortgage Pass Through Certificate<sup>1</sup> | 07/12/28 | 6.891 | 12179637 |
| 20885000 | DK Trust 2024-SPBX (1-Month CME Term SOFR + 1.500%)<sup>1,2</sup> | 03/15/34 | 5.842 | 20937213 |
| 23600000 | Life Mortgage Trust 2022-BMR2 (1- Month CME Term SOFR + 1.295%)<sup>1,2</sup> | 05/15/39 | 5.637 | 22965750 |
| 4157111 | MHC Commercial Mortgage Trust 2021-MHC (1-Month CME Term SOFR + 0.915%)<sup>1,2</sup> | 04/15/38 | 5.257 | 4157111 |
| 16040000 | MTN Commercial Mortgage Trust 2022-LPFL (1-Month CME Term SOFR + 1.397%)<sup>1,2</sup> | 03/15/39 | 5.747 | 16045013 |
| 14870000 | ORL Trust 2024-GLKS (1-Month CME Term SOFR + 1.493%)<sup>1,2</sup> | 12/15/39 | 5.834 | 14883182 |
| 46350000 | SPGN Mortgage Trust 2022-TFLM (1- Month CME Term SOFR +1.550%)<sup>1,2</sup> | 02/15/39 | 5.892 | 46234551 |
| 20000000 | WMRK Commercial Mortgage Trust 2022-WMRK (1-Month CME Term SOFR + 2.789%)<sup>1,2</sup> | 11/15/27 | 7.131 | 20050000 |
|  | **Total Commercial Mortgage Backed Securities** |  |  |  |
|  | &nbsp;&nbsp;&nbsp;**(Cost $374,185,071)** |  |  | **369447265** |
|  | **Corporate Bonds (57.7%)** |  |  |  |
|  | **Aerospace/Defense (0.1%)** |  |  |  |
| 11105000 | BAE Systems, Plc. (United Kingdom)<sup>1</sup> | 03/26/27 | 5.000 | 11198302 |
|  | **Agriculture (0.4%)** |  |  |  |
| 2420000 | Bunge, Ltd. Finance Corp. | 05/14/31 | 2.750 | 2183072 |
| 27600000 | Cargill, Inc.<sup>1</sup> | 02/11/28 | 4.625 | 27832271 |
| 2000000 | Philip Morris International, Inc. | 02/13/29 | 4.875 | 2026746 |
|  |  |  |  | 32042089 |
|  | **Airlines (0.1%)** |  |  |  |
| 7055000 | Delta Air Lines, Inc. / SkyMiles IP, Ltd.<br> (Multinational)<sup>1</sup> | 10/20/28 | 4.750 | 7059334 |
|  | **Auto Manufacturers (7.7%)** |  |  |  |
| 2155000 | American Honda Finance Corp | 10/22/27 | 4.450 | 2155801 |
| 21515000 | BMW US Capital LLC<sup>1</sup> | 08/13/26 | 4.650 | 21538077 |
| 27240000 | BMW US Capital LLC<sup>1</sup> | 03/19/27 | 4.650 | 27323484 |
| 73945000 | Ford Motor Credit Co. LLC. | 11/13/25 | 3.375 | 73577078 |
| 24500000 | Ford Motor Credit Co. LLC. | 11/05/26 | 5.125 | 24431378 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal<br> Amount |  | Maturity<br> Date | Interest<br> Rate | Value |
|  | **Corporate Bonds (continued)** |  |  |  |
|  | **Auto Manufacturers (continued)** |  |  |  |
| $10370000 | General Motors Co. | 04/15/28 | 5.350% | $10538352 |
| 60645000 | General Motors Financial Co., Inc. | 01/08/26 | 1.250 | 59750141 |
| 23920000 | General Motors Financial Co., Inc. | 04/06/26 | 5.400 | 24031838 |
| 2000000 | General Motors Financial Co., Inc. | 06/10/26 | 1.500 | 1947237 |
| 9175000 | Hyundai Capital America<sup>1</sup> | 11/03/25 | 6.250 | 9205908 |
| 11055000 | Hyundai Capital America<sup>1</sup> | 03/30/26 | 5.500 | 11116714 |
| 14835000 | Hyundai Capital America<sup>1</sup> | 06/24/26 | 5.450 | 14940284 |
| 13795000 | Hyundai Capital America<sup>1</sup> | 06/26/26 | 5.650 | 13917271 |
| 11580000 | Hyundai Capital America<sup>1</sup> | 01/08/27 | 5.250 | 11678839 |
| 18920000 | Hyundai Capital America<sup>1</sup> | 03/25/27 | 4.850 | 18979235 |
| 44615000 | Hyundai Capital America<sup>1</sup> | 06/23/27 | 4.875 | 44758138 |
| 2100000 | Hyundai Capital America<sup>1</sup> | 06/24/27 | 5.275 | 2118199 |
| 20885000 | Hyundai Capital America<sup>1</sup> | 11/01/27 | 4.875 | 20939122 |
| 25455000 | Mercedes-Benz Finance North America LLC<sup>1</sup> | 03/30/26 | 4.800 | 25500602 |
| 37185000 | Mercedes-Benz Finance North America LLC<sup>1</sup> | 07/31/26 | 4.875 | 37335993 |
| 31410000 | Mercedes-Benz Finance North America LLC<sup>1</sup> | 11/13/26 | 4.800 | 31559617 |
| 57680000 | Mercedes-Benz Finance North America LLC<sup>1</sup> | 04/01/27 | 4.650 | 57812559 |
| 2245000 | Stellantis Finance US, Inc.<sup>1</sup> | 01/29/27 | 1.711 | 2140412 |
| 17090000 | Toyota Motor Credit Corp. | 08/07/26 | 4.550 | 17112760 |
| 2100000 | Toyota Motor Credit Corp. | 03/22/27 | 3.050 | 2058193 |
| 32165000 | Toyota Motor Credit Corp. | 05/14/27 | 4.500 | 32287769 |
| 33086000 | Toyota Motor Credit Corp. | 11/10/27 | 5.450 | 33952653 |
| 17830000 | Volkswagen Group of America Finance LLC<sup>1</sup> | 08/14/26 | 4.900 | 17834673 |
| 46749000 | Volkswagen Group of America Finance LLC<sup>1</sup> | 09/26/26 | 3.200 | 45895360 |
| 18870000 | Volkswagen Group of America Finance LLC<sup>1</sup> | 03/25/27 | 4.950 | 18906706 |
| 20600000 | Volkswagen Group of America Finance LLC<sup>1</sup> | 08/15/27 | 4.850 | 20614471 |
|  |  |  |  | 735958864 |
|  | **Banks (13.5%)** |  |  |  |
| 17000000 | Banco Santander S.A. (1-Year CMT Index + 1.250%) (Spain)<sup>2</sup> | 03/14/28 | 5.552 | 17240318 |
| 30000000 | Bank of America Corp. (SOFR + 1.340%)<sup>2</sup> | 09/15/27 | 5.933 | 30451423 |
| 1920000 | Bank of America Corp. (3-Month CME Term SOFR + 1.774%)<sup>2</sup> | 04/24/28 | 3.705 | 1894223 |
| 30255000 | Bank of New York Mellon (SOFR + 0.693%)<sup>2</sup> | 04/20/27 | 4.587 | 30291851 |
| 1925000 | Bank of New York Mellon Corp. (SOFR + 1.598%)<sup>2</sup> | 10/25/29 | 6.317 | 2033338 |
| 19870000 | Bank of New Zealand (New Zealand)<sup>1</sup> | 02/07/28 | 4.846 | 20097541 |
| 9500000 | Bank of New Zealand (New Zealand)<sup>1</sup> | 01/30/29 | 5.076 | 9692036 |
| 23440000 | BNP Paribas S.A. (SOFR + 1.450%) (France)<sup>1,2</sup> | 05/09/29 | 4.792 | 23526822 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal<br> <u>Amount</u> |  | Maturity <br> <u>Date</u> | Interest<br> <u>Rate</u> | Value |
|  | **Corporate Bonds (continued)** |  |  |  |
|  | **Banks (continued)** |  |  |  |
| $16915000 | Canadian Imperial Bank of Commerce (Canada) | 10/02/26 | 5.926% | $17194692 |
| 19725000 | Canadian Imperial Bank of Commerce (Canada) | 04/28/28 | 5.001 | 20056148 |
| 45775000 | Citibank NA | 05/29/27 | 4.576 | 45904663 |
| 45795000 | Citigroup, Inc. (SOFR + 1.143%)<sup>2</sup> | 05/07/28 | 4.643 | 45841527 |
| 2100000 | Citigroup, Inc. (SOFR + 1.887%)<sup>2</sup> | 05/24/28 | 4.658 | 2102679 |
| 1940000 | Citizens Bank NA (SOFR + 2.000%)<sup>2</sup> | 08/09/28 | 4.575 | 1937903 |
| 25252000 | Comerica, Inc. (SOFR + 2.155%)<sup>2</sup> | 01/30/30 | 5.982 | 25965520 |
| 1925000 | Fifth Third Bancorp (SOFR + 2.192%)<sup>2</sup> | 10/27/28 | 6.361 | 2002358 |
| 1925000 | Goldman Sachs Group, Inc. (SOFR + 1.114%)<sup>2</sup> | 02/24/28 | 2.640 | 1868352 |
| 16355000 | Goldman Sachs Group, Inc. (SOFR + 1.319%)<sup>2</sup> | 04/23/28 | 4.937 | 16453462 |
| 5780000 | HSBC Holdings, Plc. (SOFR + 3.030%) (United Kingdom)<sup>2</sup> | 11/03/26 | 7.336 | 5817390 |
| 25640000 | HSBC Holdings, Plc. (SOFR + 1.570%) (United Kingdom)<sup>2</sup> | 08/14/27 | 5.887 | 25956959 |
| 18414000 | Huntington Bancshares, Inc. (SOFR + 1.970%)<sup>2</sup> | 08/04/28 | 4.443 | 18362920 |
| 1915000 | Huntington National Bank (SOFR + 1.650%)<sup>2</sup> | 05/17/28 | 4.552 | 1916945 |
| 2110000 | JPMorgan Chase & Co. (SOFR + 1.190%)<sup>2</sup> | 01/23/28 | 5.040 | 2126578 |
| 12600000 | JPMorgan Chase & Co. (SOFR + 0.930%)<sup>2</sup> | 07/22/28 | 4.979 | 12721297 |
| 20675000 | KeyBank NA | 11/15/27 | 5.850 | 21250459 |
| 17755000 | Lloyds Banking Group, Plc. (1-Year CMT Index + 1.800%) (United Kingdom)<sup>2</sup> | 03/18/28 | 3.750 | 17512148 |
| 1925000 | M&T Bank Corp. (SOFR + 2.800%)<sup>2</sup> | 10/30/29 | 7.413 | 2083542 |
| 42665000 | Morgan Stanley (SOFR + 1.770%)<sup>2</sup> | 10/16/26 | 6.138 | 42777159 |
| 1935000 | Morgan Stanley<sup>2,4</sup> | 07/22/28 | 3.591 | 1901785 |
| 26420000 | Morgan Stanley (SOFR + 1.380%)<sup>2</sup> | 04/12/29 | 4.994 | 26745789 |
| 24600000 | Morgan Stanley Bank NA (SOFR + 0.906%)<sup>2</sup> | 01/12/29 | 5.016 | 24904353 |
| 33755000 | NatWest Group, Plc. (SOFR + 1.300%) (United Kingdom)<sup>2</sup> | 11/15/28 | 5.639 | 34043217 |
| 19015000 | NatWest Markets, Plc. (United Kingdom)<sup>1</sup> | 03/21/28 | 4.789 | 19179373 |
| 42610000 | PNC Bank NA (SOFR + 0.504%)<sup>2</sup> | 01/15/27 | 4.775 | 42628284 |
| 45895000 | PNC Bank NA (SOFR + 0.630%)<sup>2</sup> | 05/13/27 | 4.543 | 45838647 |
| 25345000 | PNC Financial Services Group, Inc. (SOFR + 1.730%)<sup>2</sup> | 10/20/27 | 6.615 | 25944040 |
| 2200000 | PNC Financial Services Group, Inc. (SOFR + 1.850%)<sup>2</sup> | 06/06/33 | 4.626 | 2141658 |
| 24915000 | Royal Bank of Canada (Canada) | 08/03/27 | 4.240 | 24856811 |
| 64445000 | Royal Bank of Canada (SOFR + 0.810%) (Canada)<sup>2</sup> | 03/27/28 | 4.715 | 64691565 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal<br> <u>Amount</u> |  | Maturity<br> <u>Date</u> | Interest<br> Rate | Value |
|  | **Corporate Bonds (continued)** |  |  |  |
|  | **Banks (continued)** |  |  |  |
| $13474000 | Santander Holdings USA, Inc. (SOFR + 2.328%)<sup>2</sup> | 09/09/26 | 5.807% | $13484615 |
| 2000000 | Santander Holdings USA, Inc. (SOFR + 2.356%)<sup>2</sup> | 03/09/29 | 6.499 | 2082231 |
| 28865000 | Santander Holdings USA, Inc. (SOFR + 1.610%)<sup>2</sup> | 03/20/29 | 5.473 | 29333519 |
| 37275000 | Skandinaviska Enskilda Banken AB (Sweden)<sup>1</sup> | 06/02/28 | 4.375 | 37380055 |
| 11875000 | Skandinaviska Enskilda Banken AB (Sweden)<sup>1</sup> | 03/05/29 | 5.375 | 12204027 |
| 10085000 | State Street Corp. (SOFR + 1.353%)<sup>2</sup> | 11/04/26 | 5.751 | 10110328 |
| 47860000 | State Street Corp. | 02/28/28 | 4.536 | 48186219 |
| 2125000 | State Street Corp. (SOFR + 1.018%)<sup>2</sup> | 02/20/29 | 4.530 | 2134050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29095000<br>| Svenska Handelsbanken AB (Sweden)<sup>1</sup> | 06/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29933042<br>|
| 72735000 | Truist Bank (SOFR + 0.590%)<sup>2</sup> | 05/20/27 | 4.671 | 72730402 |
| 14435000 | Truist Financial Corp. (SOFR + 1.626%)<sup>2</sup> | 10/28/26 | 5.900 | 14472867 |
| 1925000 | Truist Financial Corp. (SOFR + 2.446%)<sup>2</sup> | 10/30/29 | 7.161 | 2077913 |
| 53570000 | UBS Group AG (1-Year CMT Index + 1.550%) (Switzerland)<sup>1,2</sup> | 01/12/27 | 5.711 | 53794134 |
| 42990000 | US Bancorp (5-Year CMT Index + 2.541%)<sup>2,6</sup> |  | 3.700 | 41328518 |
| 22750000 | US Bancorp (SOFR + 1.430%)<sup>2</sup> | 10/21/26 | 5.727 | 22799035 |
| 1910000 | US Bancorp (SOFR + 2.020%)<sup>2</sup> | 06/12/29 | 5.775 | 1977508 |
| 20635000 | US Bank NA (SOFR + 0.910%)<sup>2</sup> | 05/15/28 | 4.730 | 20723417 |
| 7920000 | Wells Fargo & Co. (SOFR + 1.560%)<sup>2</sup> | 08/15/26 | 4.540 | 7918203 |
| 1925000 | Wells Fargo & Co. (SOFR + 1.510%)<sup>2</sup> | 03/24/28 | 3.526 | 1894499 |
| 32115000 | Wells Fargo & Co. (SOFR + 1.370%)<sup>2</sup> | 04/23/29 | 4.970 | 32491826 |
| 26655000 | Westpac Banking Corp. (Australia) | 11/18/27 | 5.457 | 27362421 |
| 30895000 | Westpac New Zealand, Ltd. (New Zealand)<sup>1</sup> | 02/15/28 | 4.902 | 31265759 |
|  |  |  |  | 1293640363 |
|  | **Beverages (0.5%)** |  |  |  |
| 21670000 | Keurig Dr Pepper, Inc. | 03/15/27 | 5.100 | 21879317 |
| 23580000 | Keurig Dr Pepper, Inc. | 05/15/28 | 4.350 | 23537148 |
| 2105000 | PepsiCo, Inc. | 07/17/29 | 4.500 | 2127654 |
|  |  |  |  | 47544119 |
|  | **Biotechnology (0.0%)** |  |  |  |
| 1910000 | Illumina, Inc. | 12/13/27 | 5.750 | 1952267 |
|  | **Building Materials (0.3%)** |  |  |  |
| 29770000 | Amrize Finance US LLC<sup>1</sup> | <br>04/07/27 | 4.600 | 29777989 |
|  | **Commercial Services (0.1%)** |  |  |  |
| 12154000 | Ashtead Capital, Inc.<sup>1</sup> | <br>11/01/29 | 4.250 | 11868141 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal<br> <u>Amount</u> |  | Maturity<br> <u>Date</u> | Interest<br> Rate | Value |
|  | **Corporate Bonds (continued)** |  |  |  |
|  | **Computers (0.1%)** |  |  |  |
| $2000000 | Accenture Capital, Inc. | 10/04/29 | 4.050% | $1978044 |
| 2460000 | Apple, Inc. | 08/05/28 | 1.400 | 2274542 |
| 2140000 | International Business Machines Corp. | 07/27/27 | 4.150 | 2136844 |
|  |  |  |  | 6389430 |
|  | **Cosmetics/Personal Care (0.2%)** |  |  |  |
| 19550000 | Unilever Capital Corp. | 08/12/27 | 4.250 | 19576927 |
|  | **Diversified Financial Services (4.9%)** |  |  |  |
| 27473000 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland) | 10/01/25 | 4.450 | 27458112 |
| 36248000 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland) | 01/30/26 | 1.750 | 35756897 |
| 94226000 | Air Lease Corp. | 01/15/26 | 2.875 | 93407002 |
| 38724000 | American Express Co. (SOFR +0.750%)<sup>2</sup> | 04/23/27 | 5.645 | 39007862 |
| 2100000 | American Express Co. (SOFR + 0.970%)<sup>2</sup> | 07/28/27 | 5.389 | 2116726 |
| 27030000 | American Express Co. (SOFR + 1.260%)<sup>2</sup> | 04/25/29 | 4.731 | 27266743 |
| 33535000 | Avolon Holdings Funding, Ltd. (Ireland)<sup>1</sup> | 01/15/26 | 5.500 | 33608439 |
| 111620000 | Capital One Financial Corp. | 10/29/25 | 4.200 | 111412661 |
| 12080000 | Capital One Financial Corp. (SOFR + 2.440%)<sup>2</sup> | 10/29/27 | 7.149 | 12442228 |
| 18620000 | Credit Acceptance Corp.<sup>1</sup> | 12/15/28 | 9.250 | 19692214 |
| 25095000 | Credit Opportunities Partners JV LLC | 04/01/26 | 4.250 | 24860638 |
| 48895000 | Drawbridge Special Opportunities Fund LP / Drawbridge Special Opportunities Finance<sup>1</sup> | 02/15/26 | 3.875 | 48175064 |
|  |  |  |  | 475204586 |
|  | **Electric (2.4%)** |  |  |  |
| 1920000 | Atlantic City Electric Co. | 03/15/31 | 2.300 | 1705902 |
| 1905000 | Black Hills Corp. | 06/15/30 | 2.500 | 1715804 |
| 1910000 | Duke Energy Ohio, Inc. | 06/01/30 | 2.125 | 1715773 |
| 26418254 | Duke Energy Progress NC Storm Funding LLC | 07/01/30 | 1.295 | 24968975 |
| 61690000 | Edison International (5-Year CMT Index+ 4.698%)<sup>2,6</sup> |  | 5.375 | 58659907 |
| 2000000 | Evergy Missouri West, Inc.<sup>1</sup> | 12/15/27 | 5.150 | 2023876 |
| 1930000 | Fells Point Funding Trust<sup>1</sup> | 01/31/27 | 3.046 | 1886217 |
| 1930000 | FirstEnergy Pennsylvania Electric Co.<sup>1</sup> | 03/30/26 | 5.150 | 1934242 |
| 2100000 | Florida Power & Light Co. | 04/01/33 | 5.100 | 2141501 |
| 86222000 | NextEra Energy Capital Holdings, Inc. | 09/01/25 | 5.749 | 86275569 |
| 1910000 | NRG Energy, Inc.<sup>1</sup> | 12/02/25 | 2.000 | 1888393 |
| 2130000 | Pacific Gas & Electric Co.<sup>1</sup> | 05/15/29 | 5.550 | 2171049 |
| 1940000 | PacifiCorp. | 02/15/34 | 5.450 | 1955693 |
| 2100000 | Public Service Co of Colorado | 05/15/34 | 5.350 | 2129552 |
| 24049000 | Public Service Enterprise Group, Inc. | 08/15/25 | 0.800 | 24012944 |
| 18615000 | Public Service Enterprise Group, Inc. | 10/15/28 | 5.875 | 19370425 |
|  |  |  |  | 234555822 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal<br> Amount |  | Maturity<br> Date | Interest<br> Rate | Value |
|  | **Corporate Bonds (continue)**<br> **Electronics (0.0%)** |  |  |  |
| $2200000 | Honeywell International, Inc. | 03/01/27 | 1.100% | $2092597 |
|  | **Energy-Alternate Sources (0.6%)** |  |  |  |
| 38930000 | XPLR Infrastructure LP<sup>1,3</sup> | 11/15/25 | 0.000 | 38104684 |
| 22605000 | XPLR Infrastructure LP<sup>1</sup> | 06/15/26 | 2.500 | 21673674 |
|  |  |  |  | 59778358 |
|  | **Food (1.2%)** |  |  |  |
| 15535000 | General Mills, Inc. | 10/17/28 | 5.500 | 16024748 |
| 12590000 | Hormel Foods Corp. | 03/30/27 | 4.800 | 12676640 |
| 46820000 | Mars, Inc.<sup>1</sup> | 03/01/27 | 4.450 | 46885580 |
| 2120000 | Mars, Inc.<sup>1</sup> | 03/01/32 | 5.000 | 2139519 |
| 3827000 | Mondelez International, Inc. | 05/06/28 | 4.250 | 3813765 |
| 21220000 | Nestle Capital Corp.<sup>1</sup> | 03/12/29 | 4.650 | 21532845 |
| 1090000 | Nestle Holdings, Inc.<sup>1</sup> | 10/01/32 | 4.300 | 1076218 |
| 11460000 | Sysco Corp. | 01/17/29 | 5.750 | 11915402 |
|  |  |  |  | 116064717 |
|  | **Gas (0.0%)** |  |  |  |
| 1940000 | Brooklyn Union Gas Co.<sup>1</sup> | 08/05/27 | 4.632 | 1936750 |
| 1925000 | Southern California Gas Co. | 02/01/30 | 2.550 | 1767981 |
|  |  |  |  | 3704731 |
|  | **Healthcare-Products (0.3%)** |  |  |  |
| 2230000 | Baxter International, Inc. | 02/01/27 | 1.915 | 2146368 |
| 22215000 | Medtronic Global Holdings SCA (Luxembourg) | 03/30/28 | 4.250 | 22206851 |
|  |  |  |  | 24353219 |
|  | **Healthcare-Services (2.0%)** |  |  |  |
| 1925000 | Adventist Health System | 03/01/29 | 2.952 | 1794741 |
| 1772000 | CommonSpirit Health | 10/01/25 | 1.547 | 1762024 |
| 31880000 | HCA, Inc. | 02/15/26 | 5.875 | 31903883 |
| 1910000 | Health Care Service Corp. A Mutual Legal Reserve Co.<sup>1</sup> | 06/15/29 | 5.200 | 1944926 |
| 2100000 | Icon Investments Six DAC (Ireland) | 05/08/29 | 5.849 | 2177756 |
| 2000000 | IQVIA, Inc. | 05/15/28 | 5.700 | 2047000 |
| 12919000 | Providence St Joseph Health Obligated Group | 10/01/29 | 2.532 | 11910704 |
| 32090000 | Roche Holdings, Inc.<sup>1</sup> | 11/13/26 | 5.265 | 32490416 |
| 22000000 | Roche Holdings, Inc.<sup>1</sup> | 03/08/29 | 4.790 | 22351091 |
| 18145000 | Roche Holdings, Inc.<sup>1</sup> | 09/09/29 | 4.203 | 18083010 |
| 2000000 | Roche Holdings, Inc.<sup>1</sup> | 11/13/33 | 5.593 | 2110881 |
| 60630000 | Sutter Health | 08/15/25 | 1.321 | 60552962 |
| 2355000 | UnitedHealth Group, Inc. | 05/15/26 | 1.150 | 2292977 |
|  |  |  |  | 191422371 |
|  | **Insurance (11.0%)** |  |  |  |
| 26415000 | American Coastal Insurance Corp. | 12/15/27 | 7.250 | 26150850 |
| 22375000 | American National Global Funding<sup>1</sup> | 01/28/30 | 5.550 | 22767504 |
| 33015000 | American National Global Funding<sup>1</sup> | 06/03/30 | 5.250 | 33198398 |
| 49817000 | Aon Global, Ltd. (United Kingdom) | 12/15/25 | 3.875 | 49651430 |
| 35075000 | Athene Global Funding<sup>1</sup> | 02/23/26 | 5.684 | 35282555 |
| 25000000 | Athene Global Funding<sup>1</sup> | 07/09/27 | 5.349 | 25330087 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal<br> Amount |  | Maturity<br> Date | Interest<br> Rate | Value |
|  | **Corporate Bonds (continued)** |  |  |  |
|  | **Insurance (continued)** |  |  |  |
| $22035000 | Athene Global Funding (SOFR + 0.950%)<sup>1,2</sup> | 03/06/28 | 5.296% | $22137903 |
| 49950000 | Athene Global Funding<sup>1</sup> | 01/09/29 | 5.583 | 51334358 |
| 1925000 | Brighthouse Financial Global Funding<sup>1</sup> | 04/09/27 | 5.550 | 1946730 |
| 1910000 | CNO Global Funding<sup>1</sup> | 06/04/27 | 5.875 | 1954199 |
| 30350000 | Corebridge Global Funding<sup>1</sup> | 06/24/26 | 5.350 | 30559298 |
| 2130000 | Corebridge Global Funding<sup>1</sup> | 08/20/27 | 4.650 | 2139375 |
| 26910000 | Corebridge Global Funding<sup>1</sup> | 09/19/28 | 5.900 | 27931797 |
| 41640000 | Equitable America Global Funding<sup>1</sup> | 06/09/28 | 4.650 | 41753883 |
| 1900000 | Equitable Financial Life Global Funding<sup>1</sup> | 11/19/27 | 4.875 | 1916005 |
| 25185000 | Equitable Financial Life Global Funding<sup>1</sup> | 03/27/30 | 5.000 | 25537159 |
| 41390000 | Equitable Holdings, Inc. (5-Year CMT Index + 4.736%)<sup>2,6</sup> |  | 4.950 | 41174925 |
| 1925000 | F&G Global Funding<sup>1</sup> | 06/30/26 | 1.750 | 1874543 |
| 34080000 | F&G Global Funding<sup>1</sup> | 06/10/27 | 5.875 | 34799861 |
| 1925000 | GA Global Funding Trust<sup>1</sup> | 01/06/27 | 2.250 | 1859523 |
| 17225000 | GA Global Funding Trust<sup>1</sup> | 01/08/29 | 5.500 | 17609238 |
| 41635000 | Guardian Life Global Funding<sup>1</sup> | 09/26/29 | 4.179 | 41253657 |
| 24485000 | Guardian Life Global Funding<sup>1</sup> | 04/28/30 | 4.798 | 24738417 |
| 2059000 | Jackson National Life Global Funding<sup>1</sup> | 07/02/27 | 5.550 | 2094822 |
| 1924000 | MassMutual Global Funding II<sup>1</sup> | 04/09/27 | 5.100 | 1946593 |
| 44790000 | Met Tower Global Funding<sup>1</sup> | 09/14/26 | 1.250 | 43244857 |
| 23485000 | Met Tower Global Funding<sup>1</sup> | 04/12/29 | 5.250 | 24106635 |
| 2090000 | Metropolitan Life Global Funding I<sup>1</sup> | 01/08/29 | 4.850 | 2125490 |
| 54060000 | Mutual of Omaha Cos Global Funding<sup>1</sup> | 06/09/28 | 4.514 | 54019108 |
| 18735000 | Mutual of Omaha Cos Global Funding<sup>1</sup> | 04/01/30 | 5.000 | 18974299 |
| 27190000 | New York Life Global Funding<sup>1</sup> | 04/25/28 | 4.400 | 27292502 |
| 2185000 | New York Life Global Funding<sup>1</sup> | 01/28/33 | 4.550 | 2147017 |
| 38945000 | Northwestern Mutual Global Funding<sup>1</sup> | 03/25/27 | 5.070 | 39381818 |
| 24865000 | Northwestern Mutual Global Funding<sup>1</sup> | 01/10/29 | 4.710 | 25108544 |
| 37490000 | Pacific Life Global Funding II<sup>1</sup> | 04/04/28 | 4.900 | 37953486 |
| 14300000 | Pacific Life Global Funding II<sup>1</sup> | 08/28/29 | 4.500 | 14322463 |
| 12685000 | Pricoa Global Funding I<sup>1</sup> | 08/27/27 | 4.400 | 12689329 |
| 12560000 | Principal Life Global Funding II<sup>1</sup> | 01/16/27 | 5.000 | 12658176 |
| 1955000 | Principal Life Global Funding II<sup>1</sup> | 06/28/28 | 5.500 | 2009274 |
| 1925000 | Protective Life Global Funding<sup>1</sup> | 04/14/26 | 5.209 | 1934234 |
| 36560000 | Protective Life Global Funding<sup>1</sup> | 09/13/27 | 4.335 | 36554474 |
| 23265000 | Protective Life Global Funding<sup>1</sup> | 06/05/30 | 4.803 | 23430288 |
| 16160000 | RGA Global Funding<sup>1</sup> | 11/21/28 | 6.000 | 16842416 |
| 2280000 | RGA Global Funding<sup>1</sup> | 01/18/29 | 2.700 | 2135703 |
| 17755000 | RGA Global Funding<sup>1</sup> | 05/24/29 | 5.448 | 18249643 |
| 27515000 | SiriusPoint, Ltd. (Sweden) | 04/05/29 | 7.000 | 28861617 |
| 4205000 | Universal Insurance Holdings, Inc. | 11/30/26 | 5.625 | 4147469 |
| 11950000 | Vitality Re XIII, Ltd. (3-Month U.S. |  |  |  |
|  | &nbsp;&nbsp;&nbsp; Treasury Bill + 2.000%) (Cayman Islands)<sup>1,2</sup> | 01/06/26 | 6.338 | 11965535 |
| 33040000 | Western-Southern Global Funding<sup>1</sup> | 07/16/28 | 4.500 | 33054912 |
|  |  |  |  | 1060152399 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal<br> Amount |  | Maturity<br> Date | Interest<br> Rate | Value |
|  | **Corporate Bonds (continued)** |  |  |  |
|  | **Internet (0.0%)** |  |  |  |
| $2170000 | Meta Platforms, Inc. | 08/15/27 | 3.500% | $2142653 |
|  | **Investment Companies (4.4%)** |  |  |  |
| 69179000 | Ares Capital Corp. | 01/15/26 | 3.875 | 68889164 |
| 11880000 | Ares Capital Corp. | 07/15/26 | 2.150 | 11597259 |
| 2045000 | Ares Capital Corp. | 01/15/27 | 7.000 | 2105124 |
| 16000000 | BlackRock TCP Capital Corp. | 05/30/29 | 6.950 | 16519878 |
| 37994000 | Blackstone Private Credit Fund | 09/29/25 | 7.050 | 38115607 |
| 2200000 | Blackstone Private Credit Fund | 03/15/27 | 3.250 | 2140830 |
| 25975000 | Blackstone Private Credit Fund | 09/26/27 | 4.950 | 25877257 |
| 9654000 | Blackstone Secured Lending Fund | 01/15/26 | 3.625 | 9590775 |
| 18000000 | Blue Owl Credit Income Corp. | 09/23/26 | 3.125 | 17555631 |
| 44264000 | Blue Owl Technology Finance Corp.<sup>1</sup> | 12/15/25 | 4.750 | 44094639 |
| 26475000 | Franklin BSP Capital Corp. | 03/30/26 | 3.250 | 26105868 |
| 15940000 | FS KKR Capital Corp. | 01/15/26 | 3.400 | 15821138 |
| 41130000 | HA Sustainable Infrastructure Capital, Inc. | 01/15/31 | 6.150 | 41517385 |
| 48540000 | HAT Holdings I LLC / HAT Holdings II LLC<sup>1</sup> | 06/15/26 | 3.375 | 47614342 |
| 33980000 | Main Street Capital Corp. | 07/14/26 | 3.000 | 33340534 |
| 4270000 | PennantPark Floating Rate Capital, Ltd. | 04/01/26 | 4.250 | 4209086 |
| 17345000 | PennantPark Investment Corp. | 11/01/26 | 4.000 | 16685336 |
|  |  |  |  | 421779853 |
|  | **Leisure Time (0.0%)** |  |  |  |
| 1940000 | Harley-Davidson Financial Services, Inc.<sup>1</sup> | 03/10/28 | 6.500 | 2005668 |
|  | **Machinery-Constraction & Mining (0.1%)** |  |  |  |
| 9240000 | Caterpillar Financial Services Corp. | 10/16/26 | 4.450 | 9263498 |
| 2040000 | Komatsu Finance America, Inc. | 10/06/27 | 5.499 | 2080021 |
|  |  |  |  | 11343519 |
|  | **Machinery-Diversified (2.0%)** |  |  |  |
| 24855000 | AGCO Corp. | 03/21/27 | 5.450 | 25048827 |
| 56525000 | CNH Industrial Capital LLC | 01/15/26 | 1.875 | 55742519 |
| 10920000 | CNH Industrial Capital LLC | 01/12/29 | 5.500 | 11233517 |
| 27185000 | CNH Industrial Capital LLC | 04/20/29 | 5.100 | 27629332 |
| 27370000 | John Deere Capital Corp. | 07/15/27 | 4.200 | 27391602 |
| 44670000 | John Deere Capital Corp. (SOFR +0.500%)<sup>2</sup> | 03/06/28 | 4.847 | 44769153 |
| 1935000 | John Deere Capital Corp | 03/07/31 | 4.900 | 1969481 |
|  |  |  |  | 193784431 |
|  | **Oil & Gas (0.1%)** |  |  |  |
| 2200000 | Continental Resources, Inc.<sup>1</sup> | 11/15/26 | 2.268 | 2129462 |
| 2040000 | Pioneer Natural Resources Co. | 03/29/26 | 5.100 | 2047605 |
| 10072000 | Woodside Finance, Ltd. (Australia)<sup>1</sup> | 09/15/26 | 3.700 | 9954283 |
|  |  |  |  | 14131350 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal<br> Amount |  | Maturity<br> Date | Interest<br> Rate | Value |
|  | **Corporate Bonds (continued)**<br> **Packaging & Containers (0.4%)** |  |  |  |
| $37691000 | Amcor Flexibles North America, Inc.<sup>1</sup> | <br>03/17/28 | 4.800% | $37912053 |
|  | **Pharmaceuticals (2.7%)** |  |  |  |
| 55622000 | CVS Health Corp. | 02/20/26 | 5.000 | 55670062 |
| 1910000 | CVS Health Corp. | 06/01/34 | 5.700 | 1955932 |
| 46200000 | Eli Lilly & Co. | 08/14/27 | 4.150 | 46247553 |
| 48105000 | Eli Lilly & Co. | 02/12/28 | 4.550 | 48604483 |
| 38225000 | Johnson & Johnson | 03/01/27 | 4.500 | 38458112 |
| 2000000 | Johnson & Johnson | 06/01/31 | 4.900 | 2062000 |
| 22990000 | Novartis Capital Corp. | 09/18/29 | 3.800 | 22688878 |
| 44811000 | PRA Health Sciences, Inc.<sup>1</sup> | 07/15/26 | 2.875 | 43818436 |
|  |  |  |  | 259505456 |
|  | **Pipelines (0.1%)** |  |  |  |
| 2045000 | Columbia Pipelines Operating Co. LLC<sup>1</sup> | 08/15/30 | 5.927 | 2152187 |
| 1915000 | MPLX LP | 03/01/26 | 1.750 | 1882727 |
| 2100000 | ONEOK, Inc. | 11/01/26 | 5.550 | 2122037 |
| 2000000 | Targa Resources Corp. | 07/01/27 | 5.200 | 2023234 |
|  |  |  |  | 8180185 |
|  | **Real Estate Investment Trusts (1.4%)** |  |  |  |
| 9290000 | American Tower Trust #1<sup>1</sup> | 03/15/53 | 5.490 | 9417719 |
| 7570000 | Arbor Realty SR, Inc.<sup>1</sup> | 07/15/30 | 7.875 | 7730446 |
| 10000000 | Arbor Realty Trust, Inc. | 04/30/26 | 5.000 | 9875879 |
| 19450000 | Arbor Realty Trust, Inc.<sup>1</sup> | 09/01/26 | 4.500 | 18794296 |
| 1920000 | Boston Properties LP | 10/01/26 | 2.750 | 1878201 |
| 25360000 | EF Holdco / EF Cayman Hold / Ellington Finance REIT Cayman / TRS / EF Cayman Non-MTM (Multinational)<sup>1</sup> | 04/01/27 | 5.875 | 24155018 |
| 14480000 | Realty Income Corp. | 01/13/26 | 5.050 | 14472346 |
| 29500000 | Rexford Industrial Realty LP | 06/15/28 | 5.000 | 29728070 |
| 19215000 | Scentre Group Trust 1 / Scentre Group Trust 2 (Australia)<sup>1</sup> | 01/28/26 | 3.625 | 19108390 |
|  |  |  |  | 135160365 |
|  | **Retail (0.3%)** |  |  |  |
| 2190000 | 7-Eleven, Inc.<sup>1</sup> | 02/10/26 | 0.950 | 2146452 |
| 22320000 | Home Depot, Inc. | 06/25/26 | 5.150 | 22476909 |
| 2110000 | Starbucks Corp. | 02/08/27 | 4.850 | 2122848 |
| 2340000 | Walmart, Inc. | 09/22/28 | 1.500 | 2162771 |
|  |  |  |  | 28908980 |
|  | **Semiconductors (0.2%)** |  |  |  |
| 16565000 | ams-OSRAM AG (Austria)<sup>1</sup> | 03/30/29 | 12.250 | 17790734 |
| 1975000 | Foundry JV Holdco LLC<sup>1</sup> | 01/25/30 | 5.900 | 2059949 |
|  |  |  |  | 19850683 |
|  | **Software (0.3%)** |  |  |  |
| 2000000 | Concentrix Corp. | 08/02/28 | 6.600 | 2094213 |
| 22362000 | Synopsys, Inc. | 04/01/27 | 4.550 | 22397044 |
| 2235000 | VMware LLC | 08/15/26 | 1.400 | 2165301 |
|  |  |  |  | 26656558 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal<br> Amount |  | Maturity<br> Date | Interest<br> Rate | Value |
|  | **Corporate Bonds (continued)** |  |  |  |
|  | **Trucking & Leasing (0.3%)** |  |  |  |
| $31000000 | Penske Truck Leasing Co. LP / PTL Finance Corp.<sup>1</sup> | 05/01/28 | 5.550% | $31730385 |
|  | **Total Corporate Bonds** |  |  |  |
|  | &nbsp;&nbsp;&nbsp;**(Cost $5,535,434,943)** |  |  | **5557428764** |
|  | **Loan Participations and Assignments (8.3%)** |  |  |  |
| 23396612 | AAdvantage Loyality IP, Ltd. (3-Month CME Term SOFR + 2.250%) (Cayman Islands)<sup>2</sup> | 04/20/28 | 6.575 | 23279629 |
| 21096235 | Allen Media LLC (3-Month CME Term SOFR + 5.500%)<sup>2</sup> | 02/10/27 | 9.946 | 12605000 |
| 20364100 | Allspring Buyer LLC (3-Month CME Term SOFR + 3.000%)<sup>2</sup> | 11/01/30 | 7.313 | 20405847 |
| 43947274 | Asplundh Tree Expert LLC (1-Month CME Term SOFR + 1.750%)<sup>2</sup> | 09/07/27 | 6.206 | 44014513 |
| 479866 | Avantor Funding, Inc. Term B6 (1-Month CME Term SOFR + 2.000%)<sup>2</sup> | 11/08/27 | 6.456 | 481867 |
| 23223158 | Axalta Coating Systems U.S. Holdings, Inc. Term B7 (3-Month CME Term SOFR + 1.750%)<sup>2</sup> | 12/20/29 | 6.046 | 23281216 |
| 9733786 | BCP Renaissance Parent LLC Term B6 (3-Month CME Term SOFR + 3.000%)<sup>2</sup> | 10/31/28 | 7.296 | 9747705 |
| 8804219 | Buckeye Partners LP Term B5 (1-Month CME Term SOFR + 1.750%)<sup>2</sup> | 11/01/26 | 6.106 | 8811527 |
| 60975812 | Charter Communications Operating LLC Term B4 (3-Month CME Term SOFR + 2.000%)2 | 12/07/30 | 6.291 | 60853860 |
| 40273980 | Clean Harbors, Inc. (1-Month CME Term SOFR + 1.750%)<sup>2</sup> | 10/08/28 | 6.106 | 40525692 |
| 31723010 | DaVita, Inc. Term A1 (1-Month CME Term SOFR + 1.750%)<sup>2</sup> | 04/28/28 | 6.206 | 31709686 |
| 9863250 | Delos Aircraft DAC (3-Month CME Term SOFR + 1.750%) (Ireland)<sup>2</sup> | 10/31/27 | 6.046 | 9887908 |
| 20705672 | Eastern Power LLC (1-Month CME Term SOFR + 5.250%)<sup>2</sup> | 04/03/28 | 9.606 | 20770481 |
| 40044828 | Elanco Animal Health, Inc. (1-Month CME Term SOFR + 1.750%)<sup>2</sup> | 08/01/27 | 6.179 | 40000378 |
| 2579851 | Healthpeak OP LLC Term A1<sup>2,7</sup> | 08/20/27 | 0.000 | 2547603 |
| 2579851 | Healthpeak OP LLC Term A2<sup>2,7</sup> | 02/22/27 | 0.000 | 2547603 |
| 5448842 | Healthpeak OP LLC Term A3<sup>2,7</sup> | 03/01/29 | 0.000 | 5285377 |
| 100000000 | Honeywell International, Inc. Term A1 (1-Month CME Term SOFR +0.875%)<sup>2</sup> | 05/07/27 | 5.231 | 100000000 |
| 14065263 | Iqvia, Inc. Term A2 (3-Month CME Term SOFR + 1.250%)<sup>2</sup> | 06/16/27 | 5.683 | 14038961 |
| 17954887 | Iqvia, Inc. Term B5 (3-Month CME Term SOFR + 1.750%)<sup>2</sup> | 01/02/31 | 6.046 | 18044662 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)**

**July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal <br>Amount |  | Maturity <br>Date | Interest <br>Rate | Value |
|  | **Loan Participations and Assignments (continued)** |  |  |  |
| $30347290 | Iridium Communications, Inc. Term B4 |  |  |  |
|  | (1-Month CME Term SOFR + 2.250%)<sup>2</sup> | 09/20/30 | 6.606% | $30168545 |
| 23021913 | Jazz Pharmaceuticals, Inc. Term B2 (1-Month CME Term SOFR + 2.250%)<sup>2</sup> | 05/05/28 | 6.606 | 23097425 |
| 14181893 | Lumen Technologies, Inc. Term A (1- Month CME Term SOFR + 6.000%)<sup>2</sup> | 06/01/28 | 10.356 | 14477302 |
| 9290615 | Lumen Technologies, Inc. Term B1 (1- Month CME Term SOFR + 2.350%)<sup>2</sup> | 04/16/29 | 6.821 | 9234035 |
| 9290615 | Lumen Technologies, Inc. Term B2 (1- Month CME Term SOFR + 2.350%)<sup>2</sup> | 04/15/30 | 6.821 | 9228182 |
| 22236963 | Midcontinent Communications (1- Month CME Term SOFR + 1.500%)<sup>2</sup> | 08/18/31 | 6.851 | 22218506 |
| 3821630 | MPH Acquisition Holdings LLC (3- Month CME Term SOFR + 3.750%)<sup>2</sup> | 12/31/30 | 8.058 | 3798700 |
| 31678884 | MPH Acquisition Holdings LLC (3- Month CME Term SOFR + 4.600%)<sup>2</sup> | 12/31/30 | 9.170 | 28280056 |
| 8000000 | NRG Energy, Inc.<sup>2,7</sup> | 04/16/31 | 0.000 | 7996000 |
| 43312500 | Relam Amsterdam Holdings BV Term A (1-Month CME Term SOFR + 1.250%) (Netherlands)<sup>2,5</sup> | 07/10/28 | 5.706 | 43095937 |
| 39427285 | SBA Senior Finance II LLC (1-Month CME Term SOFR + 1.750%)<sup>2</sup> | 01/25/31 | 6.110 | 39550692 |
| 9284243 | Setanta Aircraft Leasing DAC (3-Month CME Term SOFR + 1.750%) (Ireland)<sup>2</sup> | 11/05/28 | 6.046 | 9321659 |
| 16509234 | SkyMiles IP, Ltd. (3-Month CME Term SOFR + 3.750%) (Cayman Islands)<sup>2</sup> | 10/20/27 | 8.075 | 16571144 |
| 23995000 | Stonepeak Nile Parent LLC (3-Month CME Term SOFR + 2.750%)<sup>2</sup> | 04/09/32 | 7.079 | 24036991 |
| 16921637 | UGI Energy Services LLC (1-Month CME Term SOFR + 2.500%)<sup>2</sup> | 02/22/30 | 6.856 | 16973079 |
| 15258000 | Whirlpool Corp. (1-Month CME Term SOFR + 1.250%)<sup>2,5</sup> | 09/30/25 | 5.706 | 15258000 |
|  | **Total Loan Participations and Assignments <br> (Cost $804,951,112)** |  |  | **802145768** |
|  | **Municipal Bonds (0.3%)** |  |  |  |
| 31000000 | Kentucky Public Energy Authority, Revenue Bonds (SOFR + 1.200%)<sup>2</sup> | 08/01/52 | 4.121 | 31020308 |
|  | **Total Municipal Bonds <br> (Cost $31,000,000)** |  |  | **31020308** |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued)<br> July 31, 2025 (unaudited)**

**All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal <br>Amount |  | Maturity <br>Date | Interest <br>Rate | Value |
|  | **Residential Mortgage Backed Securities (0.1%)** |  |  |  |
| $5224036 | RMF Proprietary Issuance Trust 2019-1<sup>1,2,4</sup> | 10/25/63 | 2.750% | $4964555 |
|  | **Total Residential Mortgage Backed Securities <br> (Cost $5,188,659)** |  |  | **4964555** |
|  | **U.S. Government Agency Obligations (0.8%)** |  |  |  |
| 30425000 | Fannie Mae Discount Notes <sup>8,9</sup> | 08/01/25 | 4.131 | 30425000 |
| 40500000 | Federal Home Loan Mortgage Corp. | 11/12/25 | 0.600 | 40060812 |
| 10571 | Federal Home Loan Mortgage Corp. (FHLMC) Non Gold Guaranteed (1-Year RFUCCT + 1.795%)<sup>2</sup> | 04/01/36 | 6.795 | 10731 |
| 11125 | Federal Home Loan Mortgage Corp. (FHLMC) Non Gold Guaranteed (6-Month RFUCCT + 1.740%)<sup>2</sup> | 12/01/36 | 6.365 | 11484 |
| 9175 | Federal Home Loan Mortgage Corp. (FHLMC) Non Gold Guaranteed (1- Year RFUCCT + 1.745%)<sup>2</sup> | 01/01/37 | 6.620 | 9368 |
| 1823009 | Federal National Mortgage Association (FNMA) | 07/01/35 | 5.000 | 1835503 |
| 114360 | Federal National Mortgage Association (FNMA) | 11/01/35 | 5.500 | 117387 |
| 14569 | Federal National Mortgage Association (FNMA) (1-Year RFUCCT + 1.964%)<sup>2</sup> | 07/01/36 | 6.714 | 15074 |
| 23497 | Federal National Mortgage Association (FNMA) (1-Year RFUCCT + 1.718%)<sup>2</sup> | 09/01/36 | 6.644 | 24008 |
| 18505 | Federal National Mortgage Association (FNMA) (1-Year RFUCCT + 1.722%)<sup>2</sup> | 01/01/37 | 6.637 | 18982 |
| 107130 | Federal National Mortgage Association (FNMA) | 08/01/37 | 5.500 | 110010 |
| 1265195 | Federal National Mortgage Association (FNMA) | 08/01/37 | 5.500 | 1290388 |
| 557925 | Federal National Mortgage Association (FNMA) | 06/01/40 | 6.500 | 590312 |
| 2166 | Government National Mortgage <br> Association (GNMA) (1-Year CMT |  |  |  |
|  | Index + 1.500%)<sup>2</sup> | 08/20/29 | 4.625 | 2170 |
|  | **Total U.S. Government Agency** **Obligations** <br> **(Cost $75,008,512)** |  |  | **74521229** |
|  | **U.S. Treasury Bills (7.4%)** |  |  |  |
| 137180000 | U.S. Treasury Bill<sup>8,9</sup> | 08/05/25 | 4.225 | 137115774 |
| 100000000 | U.S. Treasury Bill<sup>8</sup> | 08/12/25 | 4.248 | 99870597 |
| 100000000 | U.S. Treasury Bill<sup>8</sup> | 08/14/25 | 4.241 | 99847250 |
| 87070000 | U.S. Treasury Bill<sup>8</sup> | 08/19/25 | 4.235 | 86886195 |
| 88475000 | U.S. Treasury Bill<sup>8</sup> | 08/21/25 | 4.234 | 88267551 |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued) <br> July 31, 2025 (unaudited)<br> All investments in the United States, except as noted.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Principal<br> Amount |  | Maturity<br> Date | Interest<br> Rate | Value |
|  | **U.S. Treasury Bills (continued)** |  |  |  |
| $103630000 | U.S. Treasury Bill<sup>8,9</sup> | 08/26/25 | 4.273% | $103323438 |
| 85505000 | U.S. Treasury Bill<sup>8</sup> | 09/11/25 | 4.292 | 85089136 |
| 8000000 | U.S. Treasury Bill<sup>8,9,10</sup> | 10/09/25 | 4.137 | 7934793 |
|  | **Total U.S. Treasury Bills** |  |  |  |
|  | &nbsp;&nbsp;&nbsp;**(Cost $708,337,696)** |  |  | **708334734** |
|  | **U.S. Treasury Bonds and Notes (0.3%)** |  |  |  |
| 27850000 | U.S. Treasury Note | 06/30/29 | 4.250 | 28180719 |
|  | **Total U.S. Treasury Bonds and Notes** |  |  |  |
|  | &nbsp;&nbsp;&nbsp;**(Cost $28,178,636)** |  |  | **28180719** |

---

---

| | | |
|:---|:---|:---|
| **Total Investments (Cost $9,618,779,164)<sup>11</sup>** | **100.0**% | $**9630372354** |
| **Cash and Other Assets in Excess of Liabilities** | **0.0**% | **3195188** |
| **Net Assets** | **100.0**% | $**9633567542** |

---

<sup>1</sup> Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. Total market value of Rule 144A securities owned at July 31, 2025 was $4,548,269,050 or 47.2% of net assets.

<sup>2</sup> Variable rate instrument. Interest rates change on specific dates (such as coupon or interest payment date). The yield shown represents the July 31, 2025 coupon or interest rate.

<sup>3</sup> Security issued with zero coupon. Income is recognized through accretion of discount.

<sup>4</sup> This variable rate security is based on a predetermined schedule and the rate at period end also represents the reference rate at period end.

<sup>5</sup> Security that used significant unobservable inputs to determine fair value.

<sup>6</sup> Security is perpetual in nature and has no stated maturity date.

<sup>7</sup> All or a portion of this position represents an unsettled loan commitment at July 31, 2025. Certain details associated with this unsettled purchase may not be known prior to the settlement date, including coupon rate.

<sup>8</sup> Coupon represents a yield to maturity.

<sup>9</sup> Coupon represents a weighted average yield.

<sup>10</sup> All or a portion of this security is held at the broker as collateral for open futures contracts.

<sup>11</sup> The aggregate cost of investments and derivatives for federal income tax purposes is $9,618,779,164, the aggregate gross unrealized appreciation is $53,666,127 and the aggregate gross unrealized depreciation is $43,453,635, resulting in net unrealized appreciation of $10,212,492.

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| CME | Chicago Mercantile Exchange. |
| CMT | Constant Maturity Treasury. |
| FHLMC | Federal Home Loan Mortgage Corporation. |
| FNMA | Federal National Mortgage Association. |
| GNMA | Government National Mortgage Association. |
| RFUCCT | Refinitiv USD IBOR Consumer Cash Fallbacks Term. |
| SOFR | Secured Overnight Financing Rate. |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued) <br> July 31, 2025 (unaudited)**

**Financial Futures Contracts**

The following futures contracts were open at July 31, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional Amount** | **Market<br> Value** | **Unrealized Gain/(Loss)** |
| **Contracts to Sell:** |  |  |  |  |  |
| U.S. Treasury 2-Year Notes | 1316 | September 2025 | $272701973 | $272391439 | $310534 |
| U.S. Treasury 5-Year Notes | 4815 | September 2025 | 519156346 | 520847578 | (1691232) |
|  |  |  |  |  | $**(1380698)** |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued) <br> July 31, 2025 (unaudited)**

**Fair Value Measurements**

BBH Limited Duration Fund (the "Fund") is required to disclose information regarding the fair value measurements of the Fund's assets and liabilities. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The disclosure requirement established a three-tier hierarchy to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including, for example, the risk inherent in a particular valuation technique used to measure fair value, including the model and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the Fund's own considerations about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.

Authoritative guidance establishes three levels of the fair value hierarchy as follows:

— Level 1 – unadjusted quoted prices in active markets for identical assets and liabilities.

— Level 2 – significant other observable inputs (including quoted prices for similar assets and liabilities, interest rates, prepayment speeds, credit risk, etc.).

— Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining the fair value of assets and liabilities).

Inputs are used in applying the various valuation techniques and broadly refer to the assumptions that market participants use to make valuation decisions, including assumptions about risk. Inputs may include price information, specific and broad credit data, liquidity statistics, and other factors. A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. However, the determination of what constitutes "observable" requires judgment by the investment adviser. The investment adviser considers observable data to be that market data which is readily available, regularly distributed or updated, reliable and verifiable, not proprietary, and provided by independent sources that are actively involved in the relevant market. The categorization of a financial instrument within the hierarchy is based upon the pricing transparency of the instrument and does not necessarily correspond to the investment adviser's perceived risk of that instrument.

**BBH Limited Duration Fund**

**Portfolio of Investments (continued) <br> July 31, 2025 (unaudited)**

Financial assets within Level 1 are based on quoted market prices in active markets. The Fund does not adjust the quoted price for these instruments.

Financial instruments that trade in markets that are not considered to be active but are valued based on quoted market prices, dealer quotations or alternative pricing sources supported by observable inputs are classified within Level 2. These include investment-grade corporate bonds, U.S. Treasury notes and bonds, and certain non-U.S. sovereign obligations and over-the-counter derivatives. As Level 2 financial assets include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.

Financial assets classified within Level 3 have significant unobservable inputs, as they trade infrequently. Level 3 financial assets include asset backed securities and certain corporate debt securities.

Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon the actual sale of those investments.

**BBH Limited Duration Fund**

**Portfolio of Investments (continued) <br> July 31, 2025 (unaudited)**

The following table summarizes the valuation of the Fund's investments by the above fair value hierarchy levels as of July 31, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments, at value** | **Unadjusted<br> Quoted Prices <br> in Active<br> Markets<br> for Identical<br> Investments<br> (Level 1)** | **Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | **Significant<br> Unobservable<br> Inputs<br> (Level 3)** | **Balance as of<br> July 31, 2025** |
| Asset Backed Securities | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;– | $2049040755 | $5288257 | $2054329012 |
| Commercial Mortgage Backed Securities |  | 369447265 |  | 369447265 |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;– | 5557428764 |  | 5557428764 |
| Loan Participations and Assignments |  | 743791831 | 58353937 | 802145768 |
| Municipal Bonds |  | 31020308 |  | 31020308 |
| Residential Mortgage Backed Securities |  | 4964555 |  | 4964555 |
| U.S. Government Agency Obligations |  | 74521229 |  | 74521229 |
| U.S. Treasury Bills |  | 708334734 |  | 708334734 |
| U.S. Treasury Bonds and Notes | – | 28180719 | – | 28180719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Investments, at value** | $**–** | $**9566730160** | $**63642194** | $**9630372354** |
| **Other Financial Instruments, at value** |  |  |  |  |
| Financial Futures Contracts | $(1380698) | $– | $– | $(1380698) |
| &nbsp;&nbsp;&nbsp;**Other Financial** **Instruments, at value** | $**(1380698)** | $**–** | $**–** | $**(1380698)** |

---

**BBH Limited Duration Fund**

**Portfolio of Investments (continued) <br> July 31, 2025 (unaudited)**

The following is a reconciliation of assets for which significant unobservable inputs (Level 3) were used in determining fair value during the period ended July 31, 2025:

---

| | | | |
|:---|:---|:---|:---|
|  | **Asset<br> Backed<br> Securities** | **Loan<br> Participations<br> and<br> Assignments** | **Total** |
| Balance as of October 31, 2024 | $7473684 | $44775000 | $52248684 |
| Purchases |  |  |  |
| Sales/Paydowns | (2607149) | (1687500) | (4294649) |
| Realized gains/(losses) |  | 782 | 782 |
| Change in unrealized appreciation/(depreciation) | 421722 | 2953 | 424675 |
| Amortization |  | 4702 | 4702 |
| Transfers from Level 3 |  |  |  |
| Transfers to Level 3 | – | 15258000 | 15258000 |
| Balance as of July 31, 2025 | $5288257 | $58353937 | $63642194 |

---

As of July 31, 2025, $63,642,194 of value of the Level 3 assets in the Fund was based on single quotes from brokers.

**BBH Limited Duration Fund**

**Portfolio of Investments (continued) <br> July 31, 2025 (unaudited)**

Portfolio holdings are shown as of the date indicated. Since market conditions fluctuate suddenly and frequently, the portfolio holdings may change and this list is not indicative of future portfolio composition. These portfolio holdings are not intended to be and do not constitute recommendations that others buy, sell, or hold any of the securities listed.

**For more complete information on the Fund, call 1-800-575-1265 for a prospectus or visit www.bbhfunds.com. You should consider the Fund's investment objectives, risks, charges, and expenses carefully before you invest. Information about these and other important subjects is in the Fund's prospectus, which you should read carefully before investing.**

The BBH Funds are managed by a separately identifiable department within Brown Brothers Harriman & Co. Shares of the Fund are distributed by ALPS Distributors, Inc., located at 1290 Broadway, Suite 1000, Denver, CO 80203.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BBH Trust

- **b. Investment Company Act file number:** 811-21829

- **c. CIK number of Registrant:** 0001342947

- **d. LEI of Registrant:** 5493002QM4WBFYUZ3Y95

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

  - **Street Address 1:** 140 Broadway

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10005-1108

  - **Telephone number:** 800-575-1265

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

- **a. Name of Series:** BBH Limited Duration Fund

- **b. EDGAR series identifier (if any):** S000015110

- **c. LEI of Series:** 549300GDZGAO1AE3NJ34

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**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:** $9962278695.39

**Total Liabilities:** $328701673.45

**Net Assets:** $9633577021.94

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -60562.00000000 | **1-Year:** -646712.00000000 | **5-Year:** -508457.00000000 | **10-Year:** -18522.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** -6182.00000000 | **1-Year:** -79659.00000000 | **5-Year:** -107859.00000000 | **10-Year:** -114256.00000000 | **30-Year:** -235416.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000041214 | 0.50%                | 0.68%                | 0.31%                |
| Class ID C000041213 | 0.49%                | 0.58%                | 0.31%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $269237.23               | $5021746.31                                |
| Month 2  | $178733.53               | $28016664.04                               |
| Month 3  | $336969.85               | $-14872562.14                              |

**Designated Index Information**

- **Index Name:** Blended LDF Benchmark

- **Index Identifier:** Blended Customized Index

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FHLMC P1J0256 V/R 01/01/37     | FHLMC P1J0256 V/R 01/01/37 6.62000000                                                           | CUSIP: 3128LUH90<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      9175 | PA      | $9367.73       | 0.00%             | 2037-01-01      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP 4.9% 08/14/26 | VOLKSWAGEN GROUP AMERICA REGD 144A P/P 4.90000000                                               | CUSIP: 928668CK6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17830000 | PA      | $17834672.71   | 0.19%             | 2026-08-14      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: No      |
| CONTINENTAL RE 2.268% 11/15/26 | CONTINENTAL RESOURCES REGD 144A P/P 2.26800000                                                  | CUSIP: 212015AU5<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2129461.55    | 0.02%             | 2026-11-15      | Fixed         | 2.27%                 | Yes           |                  2 | On Loan: No      |
| NORTHWESTERN MU 4.71% 01/10/29 | NORTHWESTERN MUTUAL GLBL REGD 144A P/P MTN 4.71000000                                           | CUSIP: 66815L2Q1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  24865000 | PA      | $25108544.22   | 0.26%             | 2029-01-10      | Fixed         | 4.71%                 | Yes           |                  2 | On Loan: No      |
| ASHTEAD CAPITAL 4.25% 11/01/29 | ASHTEAD CAPITAL INC REGD 144A P/P 4.25000000                                                    | CUSIP: 045054AL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12154000 | PA      | $11868141.20   | 0.12%             | 2029-11-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| PUBLIC SERVICE 5.875% 10/15/28 | PUBLIC SERVICE ENTERPRIS REGD 5.87500000                                                        | CUSIP: 744573AW6<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |  18615000 | PA      | $19370424.99   | 0.20%             | 2028-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GENERAL MILLS IN 5.5% 10/17/28 | GENERAL MILLS INC REGD 5.50000000                                                               | CUSIP: 370334CW2<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |  15535000 | PA      | $16024748.33   | 0.17%             | 2028-10-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MMAF 2025-A A2 4.64% 10/13/27  | BARINGS EQUIPMENT FINANCE LLC 2025-A SER 2025-A CL A2 REGD 144A P/P 4.64000000                  | CUSIP: 06764MAB0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   9860000 | PA      | $9863821.74    | 0.10%             | 2028-10-13      | Fixed         | 4.64%                 | Yes           |                  2 | On Loan: No      |
| VDC 2023-1A A 6.316% 03/15/28  | VANTAGE DATA CENTERS ISSUER LLC SER 2023-1A CL A2 REGD 144A P/P 6.31600000                      | CUSIP: 92212KAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  12920000 | PA      | $12969013.31   | 0.13%             | 2048-03-16      | Fixed         | 6.32%                 | Yes           |                  2 | On Loan: No      |
| FOUNDRY JV HOLDC 5.9% 01/25/30 | FOUNDRY JV HOLDCO LLC REGD 144A P/P 5.90000000                                                  | CUSIP: 350930AB9<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |   1975000 | PA      | $2059949.13    | 0.02%             | 2030-01-25      | Fixed         | 5.90%                 | Yes           |                  2 | On Loan: No      |
| VOLKSWAGEN GROU 4.85% 08/15/27 | VOLKSWAGEN GROUP AMERICA REGD 144A P/P 4.85000000                                               | CUSIP: 928668CL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20600000 | PA      | $20614471.50   | 0.21%             | 2027-08-15      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| FHLMC 0.6% 11/12/25            | FEDERAL HOME LOAN MORTGAGE CORP SER 0000 0.60000000                                             | CUSIP: 3134GXAZ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |  40500000 | PA      | $40060811.93   | 0.42%             | 2025-11-12      | Fixed         | 0.60%                 | No            |                  2 | On Loan: No      |
| T/L AVANTOR FUNDIN 0% 11/08/27 | T/L AVANTOR FUNDING INC. 0% 0.00000000                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    479866 | PA      | $481867.15     | 0.01%             | 2027-11-08      | Variable      | 6.46%                 | No            |                  2 | On Loan: No      |
| FCRT 2024-1 A2 5.49% 11/15/26  | FOURSIGHT CAPITAL AUTOMOBILE RECEIVABLES TRUST 2024-1 SER 2024-1 CL A2 REGD 144A P/P 5.49000000 | CUSIP: 35105AAB3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6388202 | PA      | $6409178.46    | 0.07%             | 2029-01-16      | Fixed         | 5.49%                 | Yes           |                  2 | On Loan: No      |
| HYUNDAI CAPITAL 6.25% 11/03/25 | HYUNDAI CAPITAL AMERICA REGD 144A P/P 6.25000000                                                | CUSIP: 44891ACQ8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9175000 | PA      | $9205907.82    | 0.10%             | 2025-11-03      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| GOLDMAN SACHS GRO V/R 02/24/28 | GOLDMAN SACHS GROUP INC REGD V/R 2.64000000                                                     | CUSIP: 38141GZK3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $1868351.97    | 0.02%             | 2028-02-24      | Variable      | 2.64%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CRE 4.5% 05/14/27 | TOYOTA MOTOR CREDIT CORP REGD 4.50000000                                                        | CUSIP: 89236TNG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  32165000 | PA      | $32287768.98   | 0.34%             | 2027-05-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UMBS P#735997 5.5% 11/01/35    | FANNIE MAE POOL UMBS P#735997 5.50000000                                                        | CUSIP: 31402RUW7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    114360 | PA      | $117387.05     | 0.00%             | 2035-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VITALITY RE XIII  V/R 01/06/26 | VITALITY RE XIII LTD REGD V/R 144A P/P SER A 6.32992000                                         | CUSIP: 92849MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |  11950000 | PA      | $11965535.00   | 0.12%             | 2026-01-06      | Variable      | 6.33%                 | Yes           |                  2 | On Loan: No      |
| BHG 2024-1CON  5.81% 04/17/30  | BHG SECURITIZATION TRUST 2024-1CON SER 2024-1CON CL A REGD 144A P/P 5.81000000                  | CUSIP: 08862HAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4086697 | PA      | $4171386.77    | 0.04%             | 2035-04-17      | Fixed         | 5.81%                 | Yes           |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC V/R 11/03/26 | HSBC HOLDINGS PLC REGD V/R 7.33600000                                                           | CUSIP: 404280DQ9<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   5780000 | PA      | $5817389.66    | 0.06%             | 2026-11-03      | Variable      | 7.34%                 | No            |                  2 | On Loan: No      |
| BXMT 2020-FL2 A V/R 07/15/22   | BXMT 2020-FL2 LTD SER 2020-FL2 CL A V/R REGD 144A P/P 5.60761000                                | CUSIP: 12434LAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6309419 | PA      | $6273566.41    | 0.07%             | 2038-02-15      | Variable      | 5.61%                 | Yes           |                  2 | On Loan: No      |
| HONEYWELL INTERN 1.1% 03/01/27 | HONEYWELL INTERNATIONAL REGD 1.10000000                                                         | CUSIP: 438516CE4<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2092596.79    | 0.02%             | 2027-03-01      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| CAALT 2025-1A  5.02% 03/15/35  | CREDIT ACCEPTANCE AUTO LOAN TRUST 2025-1 SER 2025-1A CL A REGD 144A P/P 5.02000000              | CUSIP: 22536KAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  17180000 | PA      | $17293080.48   | 0.18%             | 2035-03-15      | Fixed         | 5.02%                 | Yes           |                  2 | On Loan: No      |
| NMEF 2025-A A2 4.72% 07/15/32  | NMEF FUNDING 2025-A LLC SER 2025-A CL A2 REGD 144A P/P 4.72000000                               | CUSIP: 62919VAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  11090000 | PA      | $11086274.87   | 0.12%             | 2032-07-15      | Fixed         | 4.72%                 | Yes           |                  2 | On Loan: No      |
| M&T BANK CORPORAT V/R 10/30/29 | M&T BANK CORPORATION REGD V/R 7.41300000                                                        | CUSIP: 55261FAS3<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $2083542.33    | 0.02%             | 2029-10-30      | Variable      | 7.41%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC V/R 11/15/28 | NATWEST GROUP PLC REGD V/R 5.63890600                                                           | CUSIP: 639057AR9<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |  33755000 | PA      | $34043217.41   | 0.35%             | 2028-11-15      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| MARS INC 5% 03/01/32           | MARS INC REGD 144A P/P 5.00000000                                                               | CUSIP: 571676AZ8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   2120000 | PA      | $2139519.20    | 0.02%             | 2032-03-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| HYUNDAI CAPITA 4.875% 11/01/27 | HYUNDAI CAPITAL AMERICA REGD 144A P/P 4.87500000                                                | CUSIP: 44891ADK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20885000 | PA      | $20939121.60   | 0.22%             | 2027-11-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| T/L ASPLUNDH TREE 0% 09/07/27  | T/L ASPLUNDH TREE EXPERT LLC   REGD 0.00000000                                                  | CUSIP: 04538FAD1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  43947274 | PA      | $44014513.07   | 0.46%             | 2027-09-07      | Variable      | 6.21%                 | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSO 4.9% 06/01/31 | JOHNSON & JOHNSON REGD 4.90000000                                                               | CUSIP: 478160CV4<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2062000.18    | 0.02%             | 2031-06-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF C 4.24% 08/03/27 | ROYAL BANK OF CANADA REGD MTN SER GMTN 4.24000000                                               | CUSIP: 78016FZS6<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  24915000 | PA      | $24856811.02   | 0.26%             | 2027-08-03      | Fixed         | 4.24%                 | No            |                  2 | On Loan: No      |
| AMCOR FLEXIBLES  4.8% 03/17/28 | AMCOR FLEXIBLES NORTH AM REGD 144A P/P 4.80000000                                               | CUSIP: 02344AAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  37691000 | PA      | $37912052.82   | 0.39%             | 2028-03-17      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| PROTECTIVE LIF 4.803% 06/05/30 | PROTECTIVE LIFE GLOBAL REGD 144A P/P 4.80300000                                                 | CUSIP: 74368CCC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  23265000 | PA      | $23430287.59   | 0.24%             | 2030-06-05      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO & COM V/R 04/23/29 | WELLS FARGO & COMPANY REGD V/R 4.97000000                                                       | CUSIP: 95000U3T8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  32115000 | PA      | $32491825.53   | 0.34%             | 2029-04-23      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| WESTPAC NEW ZE 4.902% 02/15/28 | WESTPAC NEW ZEALAND LTD REGD 144A P/P 4.90200000                                                | CUSIP: 96122FAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | NZ        |  30895000 | PA      | $31265759.46   | 0.32%             | 2028-02-15      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: No      |
| STATE STREET C 4.536% 02/28/28 | STATE STREET CORP REGD 4.53600000                                                               | CUSIP: 857477CU5<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |  47860000 | PA      | $48186219.02   | 0.50%             | 2028-02-28      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| T/L LUMEN TECHNO 0% 06/01/28   | T/L LUMEN TECHNOLOGIES INC     REGD 0.00000000                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  14181893 | PA      | $14477301.86   | 0.15%             | 2028-06-01      | Variable      | 10.36%                | No            |                  2 | On Loan: No      |
| T/L IQVIA INC 0%  06/16/27     | T/L IQVIA INC REGD TERM LOAN 0.00000000                                                         | CUSIP: 44969CBM1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  14065263 | PA      | $14038961.08   | 0.15%             | 2027-06-16      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| US T BILL ZCP 08/14/25         | UNITED STATES TREASURY BILL ZCP 0.00000000                                                      | CUSIP: 912797PN1<br>LEI: N/A                  | Long             | STIV             | UST               | US        | 100000000 | PA      | $99847250.00   | 1.04%             | 2025-08-14      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL  5.583% 01/09/29 | ATHENE GLOBAL FUNDING REGD 144A P/P 5.58300000                                                  | CUSIP: 04685A3Q2<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |  49950000 | PA      | $51334358.26   | 0.53%             | 2029-01-09      | Fixed         | 5.58%                 | Yes           |                  2 | On Loan: No      |
| HAROT 2025-2 A2 4.3% 01/15/27  | HONDA AUTO RECEIVABLES 2025-2 OWNER TRUST SER 2025-2 CL A2A REGD 4.30000000                     | CUSIP: 437921AB5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  24730000 | PA      | $24712204.29   | 0.26%             | 2028-01-18      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CR 3.05% 03/22/27 | TOYOTA MOTOR CREDIT CORP REGD MTN 3.05000000                                                    | CUSIP: 89236TJZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2058192.80    | 0.02%             | 2027-03-22      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| US T BILL ZCP 08/19/25         | UNITED STATES TREASURY BILL ZCP 0.00000000                                                      | CUSIP: 912797QK6<br>LEI: N/A                  | Long             | STIV             | UST               | US        |  87070000 | PA      | $86886195.23   | 0.90%             | 2025-08-19      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GFORT 2025-2A  4.64% 03/15/28  | GMF FLOORPLAN OWNER REVOLVING TRUST SER 2025-2A CL A REGD 144A P/P 4.64000000                   | CUSIP: 361886EB6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  28000000 | PA      | $28188876.80   | 0.29%             | 2030-03-15      | Fixed         | 4.64%                 | Yes           |                  2 | On Loan: No      |
| CFII 2023-2A A 6.16% 11/15/26  | CHESAPEAKE FUNDING II LLC SER 2023-2A CL A1 REGD 144A P/P 6.16000000                            | CUSIP: 165183CZ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4536431 | PA      | $4587807.86    | 0.05%             | 2035-10-15      | Fixed         | 6.16%                 | Yes           |                  2 | On Loan: No      |
| XPLR INFRASTRUCTU ZCP 11/15/25 | XPLR INFRASTRUCTURE LP REGD ZCP 144A P/P CONVERTIBLE 0.00000000                                 | CUSIP: 65341BAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  38930000 | PA      | $38104684.00   | 0.40%             | 2025-11-15      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| T/L IRIDIUM COMMU 0% 09/20/30  | T/L IRIDIUM COMMUNICATIONS INC REGD 0.00000000                                                  | CUSIP: 46269KAT1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  30347290 | PA      | $30168544.61   | 0.31%             | 2030-09-20      | Variable      | 6.61%                 | No            |                  2 | On Loan: No      |
| GLM 2019-6A AR2 V/R 04/20/35   | GOLDENTREE LOAN MANAGEMENT US CLO 6 LTD SER 2019-6A CL AR2 V/R REGD 144A P/P 5.29549000         | CUSIP: 38137WAY1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49759470.00   | 0.52%             | 2035-04-20      | Variable      | 5.30%                 | Yes           |                  2 | On Loan: No      |
| GENERAL MOTORS  5.35% 04/15/28 | GENERAL MOTORS CO REGD 5.35000000                                                               | CUSIP: 37045VBC3<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |  10370000 | PA      | $10538352.28   | 0.11%             | 2028-04-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| WALMART INC 1.5% 09/22/28      | WALMART INC REGD 1.50000000                                                                     | CUSIP: 931142ES8<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |   2340000 | PA      | $2162771.28    | 0.02%             | 2028-09-22      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| NMEF 2023-A A2 6.57% 06/17/30  | NMEF FUNDING 2023-A LLC SER 2023-A CL A2 REGD 144A P/P 6.57000000                               | CUSIP: 62890QAB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5036143 | PA      | $5064041.81    | 0.05%             | 2030-06-17      | Fixed         | 6.57%                 | Yes           |                  2 | On Loan: No      |
| NEUB 2019-34A A1 V/R 01/20/35  | NEUBERGER BERMAN LOAN ADVISERS CLO 3 SER 2019-34A CL A1R V/R REGD 144A P/P 5.56549000           | CUSIP: 64132YAQ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  45592346 | PA      | $45592346.10   | 0.47%             | 2035-01-20      | Variable      | 5.57%                 | Yes           |                  2 | On Loan: No      |
| ARIFL 2025-B A 4.59% 03/15/34  | ARI FLEET LEASE TRUST 2025-B SER 2025-B CL A2 REGD 144A P/P 4.59000000                          | CUSIP: 00193GAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  11330000 | PA      | $11342953.59   | 0.12%             | 2034-03-15      | Fixed         | 4.59%                 | Yes           |                  2 | On Loan: No      |
| LLOYDS BANKING GR V/R 03/18/28 | LLOYDS BANKING GROUP PLC REGD V/R 3.75000000                                                    | CUSIP: 53944YAS2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |  17755000 | PA      | $17512147.64   | 0.18%             | 2028-03-18      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE E 0.8% 08/15/25 | PUBLIC SERVICE ENTERPRIS REGD 0.80000000                                                        | CUSIP: 744573AP1<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |  24049000 | PA      | $24012944.54   | 0.25%             | 2025-08-15      | Fixed         | 0.80%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL 5.45% 06/24/26 | HYUNDAI CAPITAL AMERICA REGD 144A P/P 5.45000000                                                | CUSIP: 44891ADA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14835000 | PA      | $14940283.85   | 0.16%             | 2026-06-24      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| MET TOWER GLOBA 1.25% 09/14/26 | MET TOWER GLOBAL FUNDING REGD 144A P/P MTN 1.25000000                                           | CUSIP: 58989V2D5<br>LEI: 635400OFJCY9IOGBGY57 | Long             | DBT              | CORP              | US        |  44790000 | PA      | $43244857.42   | 0.45%             | 2026-09-14      | Fixed         | 1.25%                 | Yes           |                  2 | On Loan: No      |
| ONDK 2023-1A A 7% 08/17/26     | ONDECK ASSET SECURITIZATION TRUST IV LLC SER 2023-1A CL A REGD 144A P/P 7.00000000              | CUSIP: 67108SAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  14337000 | PA      | $14476646.68   | 0.15%             | 2030-08-19      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| RPIT 2019-1 A V/R 10/25/24     | RMF PROPRIETARY ISSUANCE TRUST 2019-1 SER 2019-1 CL A V/R REGD 144A P/P 2.75000000              | CUSIP: 74968RAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5224036 | PA      | $4964554.74    | 0.05%             | 2063-10-25      | Variable      | 2.75%                 | Yes           |                  2 | On Loan: No      |
| COREBRIDGE GLOB 4.65% 08/20/27 | COREBRIDGE GLOB FUNDING REGD 144A P/P 4.65000000                                                | CUSIP: 00138CBB3<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |   2130000 | PA      | $2139375.51    | 0.02%             | 2027-08-20      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| BX 2025-LUNR A V/R 06/15/27    | BX TRUST 2025-LUNR SER 2025-LUNR CL A V/R REGD 144A P/P 5.84194000                              | CUSIP: 05594CAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  22820000 | PA      | $22888412.08   | 0.24%             | 2040-06-15      | Variable      | 5.84%                 | Yes           |                  2 | On Loan: No      |
| T/L ALLEN MEDIA 0% 02/10/2027  | T/L ALLEN MEDIA LLC AKA ENTERT REGD 0.00000000                                                  | CUSIP: 01771JAG8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  21096235 | PA      | $12605000.16   | 0.13%             | 2027-02-10      | Variable      | 9.95%                 | No            |                  2 | On Loan: No      |
| UMBS P#310104 5.5% 08/01/37    | FANNIE MAE POOL UMBS P#310104 5.50000000                                                        | CUSIP: 31374CNV4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1265195 | PA      | $1290387.65    | 0.01%             | 2037-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL 5.65% 06/26/26 | HYUNDAI CAPITAL AMERICA REGD 144A P/P 5.65000000                                                | CUSIP: 44891ACG0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13795000 | PA      | $13917271.02   | 0.14%             | 2026-06-26      | Fixed         | 5.65%                 | Yes           |                  2 | On Loan: No      |
| EFF 2023-3 A2 6.4% 02/22/27    | ENTERPRISE FLEET FINANCING 2023-3 LLC SER 2023-3 CL A2 REGD 144A P/P 6.40000000                 | CUSIP: 29374LAB6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6216844 | PA      | $6301942.36    | 0.07%             | 2030-03-20      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| ONDK 2025-1A A 5.08% 04/17/28  | ONDECK ASSET SECURITIZATION IV LLC SER 2025-1A CL A REGD 144A P/P 5.08000000                    | CUSIP: 68237DAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  32100000 | PA      | $31775436.90   | 0.33%             | 2032-04-19      | Fixed         | 5.08%                 | Yes           |                  2 | On Loan: No      |
| OMFIT 2022-3A  5.94% 04/14/26  | ONEMAIN FINANCIAL ISSUANCE TRUST 2022-3 SER 2022-3A CL A REGD 144A P/P 5.94000000               | CUSIP: 68269PAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7836418 | PA      | $7873573.13    | 0.08%             | 2034-05-15      | Fixed         | 5.94%                 | Yes           |                  2 | On Loan: No      |
| T/L HEALTHPEAK PRO 0% 08/20/27 | T/L HEALTHPEAK PROPERTIES      INC REGD 0.00000000                                              | CUSIP: 42250UAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2579851 | PA      | $2547603.30    | 0.03%             | 2027-08-20      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| DCAL 2015-1A A1 V/R 02/15/22   | AIM AVIATION FINANCE LTD SER 2015-1A CL A1 V/R REGD P/P 6.21300000                              | CUSIP: 001406AA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6459966 | PA      | $6201696.43    | 0.06%             | 2040-02-15      | Variable      | 6.21%                 | Yes           |                  2 | On Loan: No      |
| SYSCO CORPORATI 5.75% 01/17/29 | SYSCO CORPORATION REGD 5.75000000                                                               | CUSIP: 871829BS5<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |  11460000 | PA      | $11915402.18   | 0.12%             | 2029-01-17      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CAALT 2024-2A  5.95% 06/15/27  | CREDIT ACCEPTANCE AUTO LOAN TRUST 2024-2 SER 2024-2A CL A REGD 144A P/P 5.95000000              | CUSIP: 22536VAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  18320000 | PA      | $18639971.62   | 0.19%             | 2034-06-15      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| PEPSICO INC 4.5% 07/17/29      | PEPSICO INC REGD 4.50000000                                                                     | CUSIP: 713448FX1<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |   2105000 | PA      | $2127654.22    | 0.02%             | 2029-07-17      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AON GLOBAL LTD 3.875% 12/15/25 | AON GLOBAL LTD REGD 3.87500000                                                                  | CUSIP: 00185AAK0<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |  49817000 | PA      | $49651429.71   | 0.52%             | 2025-12-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| T/L HONEYWELL 0% 05/30/2027    | T/L HONEYWELL INTERNATIONAL    INC REGD 0.00000000                                              | CUSIP: 43852TCF0<br>LEI: N/A                  | Long             | LON              | CORP              | US        | 100000000 | PA      | $100000000.00  | 1.04%             | 2027-05-30      | Variable      | 5.23%                 | No            |                  2 | On Loan: No      |
| EVERGY MISSOURI 5.15% 12/15/27 | EVERGY MISSOURI WEST INC REGD 144A P/P 5.15000000                                               | CUSIP: 30037FAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2023875.92    | 0.02%             | 2027-12-15      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY V/R 04/12/29    | MORGAN STANLEY REGD V/R SER . 4.99400000                                                        | CUSIP: 61747YFY6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  26420000 | PA      | $26745789.25   | 0.28%             | 2029-04-12      | Variable      | 4.99%                 | No            |                  2 | On Loan: No      |
| CAUTO 2024-2A A 4.9% 05/15/29  | CAPITAL AUTOMOTIVE REIT SER 2024-2A CL A1 REGD 144A P/P 4.90000000                              | CUSIP: 12510HAV2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  10791733 | PA      | $10713309.80   | 0.11%             | 2054-05-15      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: No      |
| APPLE INC 1.4% 08/05/28        | APPLE INC REGD 1.40000000                                                                       | CUSIP: 037833EH9<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |   2460000 | PA      | $2274541.88    | 0.02%             | 2028-08-05      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| MUTUAL OF OMAHA GL 5% 04/01/30 | MUTUAL OF OMAHA GLOBAL REGD 144A P/P 5.00000000                                                 | CUSIP: 62829D2F6<br>LEI: 635400AL5J3F1ZPTAN95 | Long             | DBT              | CORP              | US        |  18735000 | PA      | $18974298.97   | 0.20%             | 2030-04-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CITIZENS BANK NA/ V/R 08/09/28 | CITIZENS BANK NA/RI REGD V/R 4.57500000                                                         | CUSIP: 75524KPG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1940000 | PA      | $1937903.00    | 0.02%             | 2028-08-09      | Variable      | 4.58%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATION 5.55% 01/28/30 | AMERICAN NATIONAL GF REGD 144A P/P MTN 5.55000000                                               | CUSIP: 02771D2A1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22375000 | PA      | $22767503.59   | 0.24%             | 2030-01-28      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| MONDELEZ INTERN 4.25% 05/06/28 | MONDELEZ INTERNATIONAL REGD 4.25000000                                                          | CUSIP: 609207BF1<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |   3827000 | PA      | $3813765.20    | 0.04%             | 2028-05-06      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NFMOT 2024-1A  5.12% 03/15/27  | NEXTGEAR FLOORPLAN MASTER OWNER TRUST SER 2024-1A CL A2 REGD 144A P/P 5.12000000                | CUSIP: 65341KBZ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  24520000 | PA      | $24770734.16   | 0.26%             | 2029-03-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| EQUITABLE FINANCIA 5% 03/27/30 | EQUITABLE FINANCIAL LIFE REGD 144A P/P 5.00000000                                               | CUSIP: 29449WAT4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  25185000 | PA      | $25537159.08   | 0.27%             | 2030-03-27      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| TLOT 2025-A A3 4.75% 07/20/27  | TOYOTA LEASE OWNER TRUST 2025-A SER 2025-A CL A3 REGD 144A P/P 4.75000000                       | CUSIP: 89239NAD7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  14240000 | PA      | $14333874.35   | 0.15%             | 2028-02-22      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| MUTUAL OF OMAH 4.514% 06/09/28 | MUTUAL OF OMAHA GLOBAL REGD 144A P/P 4.51400000                                                 | CUSIP: 62829D2G4<br>LEI: 635400AL5J3F1ZPTAN95 | Long             | DBT              | CORP              | US        |  54060000 | PA      | $54019107.93   | 0.56%             | 2028-06-09      | Fixed         | 4.51%                 | Yes           |                  2 | On Loan: No      |
| SKANDINAVISKA  4.375% 06/02/28 | SKANDINAVISKA ENSKILDA REGD 144A P/P 4.37500000                                                 | CUSIP: 830505BE2<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |  37275000 | PA      | $37380055.11   | 0.39%             | 2028-06-02      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| BANK OF NY MELLON V/R 10/25/29 | BANK OF NY MELLON CORP REGD V/R MTN 6.31700000                                                  | CUSIP: 06406RBT3<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $2033337.50    | 0.02%             | 2029-10-25      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| COML MTG PASS V/R 07/12/28     | COML MTG PASS THRU CTF CL A    144A VARIABLE 6.89100000                                         | CUSIP: 228925AA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  11715000 | PA      | $12179636.82   | 0.13%             | 2028-07-12      | Variable      | 6.89%                 | Yes           |                  2 | On Loan: No      |
| ROCHE HOLDINGS 5.593% 11/13/33 | ROCHE HOLDINGS INC REGD 144A P/P 5.59300000                                                     | CUSIP: 771196CH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2110881.38    | 0.02%             | 2033-11-13      | Fixed         | 5.59%                 | Yes           |                  2 | On Loan: No      |
| WFLF 2023-1A A 5.8% 04/18/38   | WHEELS FLEET LEASE FUNDING 1 LLC SER 2023-1A CL A REGD 144A P/P 5.80000000                      | CUSIP: 96328GAS6<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-CBDO         | CORP              | US        |   8663296 | PA      | $8710766.62    | 0.09%             | 2038-04-18      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| WFNMT 2023-A A 5.02% 05/15/26  | WORLD FINANCIAL NETWORK CREDIT CARD MASTER TRUST SER 2023-A CL A REGD 5.02000000                | CUSIP: 981464HL7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  11295000 | PA      | $11340761.69   | 0.12%             | 2030-03-15      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| T/L AXALTA COATIN ZCP 12/20/29 | T/L AXALTA COATING SYSTEMS US H REGD ZCP TERM LOAN 0.00000000                                   | CUSIP: 90347BAP3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  23223158 | PA      | $23281215.74   | 0.24%             | 2029-12-20      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| BHG 2023-A A 5.55% 06/17/26    | BHG SECURITIZATION TRUST 2023-A SER 2023-A CL A REGD 144A P/P 5.55000000                        | CUSIP: 08860FAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3285595 | PA      | $3291188.34    | 0.03%             | 2036-04-17      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| EART 2025-1A B 4.91% 05/15/27  | EXETER AUTOMOBILE RECEIVABLES TRUST 2025-1 SER 2025-1A CL B REGD 4.91000000                     | CUSIP: 30167MAD9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  10230000 | PA      | $10260296.15   | 0.11%             | 2029-08-15      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC V/R 05/24/28     | CITIGROUP INC REGD V/R 4.65800000                                                               | CUSIP: 172967NS6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2102679.10    | 0.02%             | 2028-05-24      | Variable      | 4.66%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITA 5.275% 06/24/27 | HYUNDAI CAPITAL AMERICA REGD 144A P/P 5.27500000                                                | CUSIP: 44891ADB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2118199.36    | 0.02%             | 2027-06-24      | Fixed         | 5.28%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN EXPRESS  V/R 04/25/29 | AMERICAN EXPRESS CO REGD V/R 4.73100000                                                         | CUSIP: 025816ED7<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |  27030000 | PA      | $27266743.34   | 0.28%             | 2029-04-25      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| KEY BANK NA 5.85% 11/15/27     | KEY BANK NA REGD SER BKNT 5.85000000                                                            | CUSIP: 49327M3F9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20675000 | PA      | $21250459.47   | 0.22%             | 2027-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LE 5.55% 05/01/28 | PENSKE TRUCK LEASING/PTL REGD 144A P/P 5.55000000                                               | CUSIP: 709599BT0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  31000000 | PA      | $31730384.80   | 0.33%             | 2028-05-01      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| AXIS 2025-1A A2 4.7% 01/20/29  | AMUR EQUIPMENT FINANCE RECEIVABLES XV LLC SER 2025-1A CL A2 REGD 144A P/P 4.70000000            | CUSIP: 03237FAB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  11250000 | PA      | $11295265.50   | 0.12%             | 2031-09-22      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| T/L RELAM AM 0% 07/10/28       | T/L RELAM AMSTERDAM HOLDINGS   B.V REGD 0.00000000                                              | CUSIP: N7362EAC5<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |  43312500 | PA      | $43095937.50   | 0.45%             | 2028-07-10      | Variable      | 5.71%                 | No            |                  3 | On Loan: No      |
| PNC BANK NA V/R 01/15/27       | PNC BANK NA REGD V/R SER BKNT 4.77500000                                                        | CUSIP: 69353RFX1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  42610000 | PA      | $42628283.52   | 0.44%             | 2027-01-15      | Variable      | 4.78%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA C V/R 09/15/27 | BANK OF AMERICA CORP REGD V/R 5.93300000                                                        | CUSIP: 06051GLV9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $30451422.90   | 0.32%             | 2027-09-15      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| PROV ST JOSEPH 2.532% 10/01/29 | PROV ST JOSEPH HLTH OBL REGD SER 19A 2.53200000                                                 | CUSIP: 743820AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12919000 | PA      | $11910704.35   | 0.12%             | 2029-10-01      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| EFF 2022-4 A2 5.76% 05/20/26   | ENTERPRISE FLEET FINANCING 2022-4 LLC SER 2022-4 CL A2 REGD 144A P/P 5.76000000                 | CUSIP: 29374GAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3273937 | PA      | $3284634.01    | 0.03%             | 2029-10-22      | Fixed         | 5.76%                 | Yes           |                  2 | On Loan: No      |
| CREDIT ACCEPTAN 9.25% 12/15/28 | CREDIT ACCEPTANC REGD 144A P/P 9.25000000                                                       | CUSIP: 225310AQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  18620000 | PA      | $19692214.08   | 0.20%             | 2028-12-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| MERCEDES-BENZ FI 4.8% 03/30/26 | MERCEDES-BENZ FIN NA REGD 144A P/P 4.80000000                                                   | CUSIP: 58769JAF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  25455000 | PA      | $25500601.87   | 0.26%             | 2026-03-30      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| T/L SBA SENIOR 0% 01/25/2031   | T/L SBA SENIOR FINANCE II LLC  REGD 0.00000000                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  39427285 | PA      | $39550692.57   | 0.41%             | 2031-01-25      | Variable      | 6.11%                 | No            |                  2 | On Loan: No      |
| PFSFC 2025-B A 4.85% 02/15/28  | PFS FINANCING CORP SER 2025-B CL A REGD 144A P/P 4.85000000                                     | CUSIP: 69335PFU4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  12690000 | PA      | $12803260.79   | 0.13%             | 2030-02-15      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| FRANKLIN BSP CA 3.25% 03/30/26 | FRANKLIN BSP CAPITAL CO REGD SER WI 3.25000000                                                  | CUSIP: 12325JAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  26475000 | PA      | $26105868.08   | 0.27%             | 2026-03-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS I 3.5% 08/15/27 | META PLATFORMS INC REGD SER WI 3.50000000                                                       | CUSIP: 30303M8G0<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   2170000 | PA      | $2142652.55    | 0.02%             | 2027-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| OPTN 2024-2 A 5.86% 02/09/32   | OPORTUN ISSUANCE TRUST 2024-2 SER 2024-2 CL A REGD 144A P/P 5.86000000                          | CUSIP: 68377KAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3889417 | PA      | $3892503.36    | 0.04%             | 2032-02-09      | Fixed         | 5.86%                 | Yes           |                  2 | On Loan: No      |
| F/C US 2YR NOTE (CBT) SEP25    | FUTURE CONTRACT ON           US 2YR NOTE (CBT) SEP25 0.00000000                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |     -1316 | NC      | $-272391438.82 | -2.83%            |  |  |  | No            |                  1 | On Loan: No      |
| AVOLON HOLDINGS  5.5% 01/15/26 | AVOLON HOLDINGS FNDG LTD REGD 144A P/P 5.50000000                                               | CUSIP: 05401AAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |  33535000 | PA      | $33608438.97   | 0.35%             | 2026-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| EFF 2025-3 A2 4.5% 10/20/27    | ENTERPRISE FLEET FINANCING 2025-3 LLC SER 2025-3 CL A2 REGD 144A P/P 4.50000000                 | CUSIP: 29375UAB5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   9600000 | PA      | $9615340.80    | 0.10%             | 2028-04-20      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| T/L SETANTA AIR 0% 11/05/28    | T/L SETANTA AIRCRAFT LEASING   DESIGNATED ACTVITY COMPANY     REGD 0.00000000                   | CUSIP: G8057JAC0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  13263205 | PA      | $13316655.29   | 0.14%             | 2028-11-05      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY V/R 07/22/28    | MORGAN STANLEY REGD V/R MTN 3.59100000                                                          | CUSIP: 61744YAK4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1935000 | PA      | $1901784.91    | 0.02%             | 2028-07-22      | Variable      | 3.59%                 | No            |                  2 | On Loan: No      |
| UNILEVER CAPITA 4.25% 08/12/27 | UNILEVER CAPITAL CORP REGD 4.25000000                                                           | CUSIP: 904764BU0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19550000 | PA      | $19576927.39   | 0.20%             | 2027-08-12      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ECAF 2015-1A  3.473% 06/15/22  | ECAF I LTD SER 2015-1A CL A1 REGD 144A P/P 3.47300000                                           | CUSIP: 26827EAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2139845 | PA      | $1840163.68    | 0.02%             | 2040-06-15      | Fixed         | 3.47%                 | Yes           |                  2 | On Loan: No      |
| COMMONSPIRIT H 1.547% 10/01/25 | COMMONSPIRIT HEALTH REGD 1.54700000                                                             | CUSIP: 20268JAE3<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |   1772000 | PA      | $1762023.59    | 0.02%             | 2025-10-01      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIV 4.95% 09/26/27 | BLACKSTONE PRIVATE CRE REGD SER WI 4.95000000                                                   | CUSIP: 09261HBR7<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |  25975000 | PA      | $25877256.85   | 0.27%             | 2027-09-26      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| SORT 2020-1 A1 1.69% 07/15/25  | CF HIPPOLYTA ISSUER LLC SER 2020-1 CL A1 REGD 144A P/P 1.69000000                               | CUSIP: 12530MAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  22918037 | PA      | $19658083.76   | 0.20%             | 2060-07-15      | Fixed         | 1.69%                 | Yes           |                  2 | On Loan: No      |
| UNITEDHEALTH GR 1.15% 05/15/26 | UNITEDHEALTH GROUP INC REGD 1.15000000                                                          | CUSIP: 91324PEC2<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   2355000 | PA      | $2292976.53    | 0.02%             | 2026-05-15      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| FCITL 2024-1A  5.44% 08/15/36  | FCI FUNDING 2024-1 LLC SER 2024-1A CL A REGD 144A P/P 5.44000000                                | CUSIP: 31425BAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  13139485 | PA      | $13109579.82   | 0.14%             | 2036-08-15      | Fixed         | 5.44%                 | Yes           |                  2 | On Loan: No      |
| HYUNDAI CAPITA 4.875% 06/23/27 | HYUNDAI CAPITAL AMERICA REGD 144A P/P 4.87500000                                                | CUSIP: 44891ADU8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  44615000 | PA      | $44758138.30   | 0.46%             | 2027-06-23      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| PUBLIC SERVICE  5.35% 05/15/34 | PUBLIC SERVICE COLORADO REGD 5.35000000                                                         | CUSIP: 744448CZ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2129551.91    | 0.02%             | 2034-05-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE &  V/R 07/22/28 | JPMORGAN CHASE & CO REGD V/R 4.97900000                                                         | CUSIP: 46647PEL6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  12600000 | PA      | $12721297.43   | 0.13%             | 2028-07-22      | Variable      | 4.98%                 | No            |                  2 | On Loan: No      |
| OPTN 2021-C A 2.18% 10/08/31   | OPORTUN ISSUANCE TRUST 2021-C SER 2021-C CL A REGD 144A P/P 2.18000000                          | CUSIP: 68377WAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  29801671 | PA      | $29106049.25   | 0.30%             | 2031-10-08      | Fixed         | 2.18%                 | Yes           |                  2 | On Loan: No      |
| MTN 2022-LPFL A V/R 03/15/27   | MTN COMMERCIAL MORTGAGE TRUST 2022-LPFL SER 2022-LPFL CL A V/R REGD 144A P/P 5.74690000         | CUSIP: 62475WAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  16040000 | PA      | $16045012.50   | 0.17%             | 2039-03-15      | Variable      | 5.75%                 | Yes           |                  2 | On Loan: No      |
| STELLANTIS FIN 1.711% 01/29/27 | STELLANTIS FIN US INC REGD 144A P/P 1.71100000                                                  | CUSIP: 85855CAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2245000 | PA      | $2140412.16    | 0.02%             | 2027-01-29      | Fixed         | 1.71%                 | Yes           |                  2 | On Loan: No      |
| CGMS 2019-2A AR2 V/R 10/15/37  | CARLYLE US CLO 2019-2 LTD SER 2019-2A CL AR2 V/R REGD 144A P/P 5.67755000                       | CUSIP: 14316EAY5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  32520000 | PA      | $32611088.52   | 0.34%             | 2037-10-15      | Variable      | 5.68%                 | Yes           |                  2 | On Loan: No      |
| EQUITABLE HOLDINGS  V/R /PERP/ | EQUITABLE HOLDINGS INC REGD V/R /PERP/ SER B 4.95000000                                         | CUSIP: 29452EAA9<br>LEI: 549300FIBAKMNHPZ4009 | Long             | DBT              | CORP              | US        |  41390000 | PA      | $41174924.73   | 0.43%             | 2173-12-15      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| EART 2025-3A A 4.78% 05/17/27  | EXETER AUTOMOBILE RECEIVABLES TRUST SER 2025-3A CL A3 REGD 4.78000000                           | CUSIP: 30166XAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  13560000 | PA      | $13602144.48   | 0.14%             | 2029-07-16      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| T/L HEALTHPEAK PRO 0% 02/22/27 | T/L HEALTHPEAK PROPERTIES      INC REGD 0.00000000                                              | CUSIP: 42250UAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2579851 | PA      | $2547603.30    | 0.03%             | 2027-02-22      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCO V/R 10/27/28 | FIFTH THIRD BANCORP REGD V/R 6.36100000                                                         | CUSIP: 316773DJ6<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $2002358.40    | 0.02%             | 2028-10-27      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & E 5.55% 05/15/29 | PACIFIC GAS & ELECTRIC REGD 5.55000000                                                          | CUSIP: 694308KQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2130000 | PA      | $2171049.47    | 0.02%             | 2029-05-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| HARLEY-DAVIDSON  6.5% 03/10/28 | HARLEY-DAVIDSON FINL SER REGD 144A P/P 6.50000000                                               | CUSIP: 41284VAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1940000 | PA      | $2005667.55    | 0.02%             | 2028-03-10      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| BROOKLYN UNION 4.632% 08/05/27 | BROOKLYN UNION GAS CO REGD 144A P/P 4.63200000                                                  | CUSIP: 114259AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1940000 | PA      | $1936750.34    | 0.02%             | 2027-08-05      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| HORMEL FOODS COR 4.8% 03/30/27 | HORMEL FOODS CORP REGD 4.80000000                                                               | CUSIP: 440452AK6<br>LEI: MSD54751OJP1FS2ND863 | Long             | DBT              | CORP              | US        |  12590000 | PA      | $12676640.10   | 0.13%             | 2027-03-30      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOB 5.35% 06/24/26 | COREBRIDGE GLOB FUNDING REGD 144A P/P 5.35000000                                                | CUSIP: 00138CAY4<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |  30350000 | PA      | $30559297.85   | 0.32%             | 2026-06-24      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| PROTECTIVE LIF 4.335% 09/13/27 | PROTECTIVE LIFE GLOBAL REGD 144A P/P 4.33500000                                                 | CUSIP: 74368CBZ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  36560000 | PA      | $36554473.96   | 0.38%             | 2027-09-13      | Fixed         | 4.33%                 | Yes           |                  2 | On Loan: No      |
| HYUNDAI CAPITAL  5.5% 03/30/26 | HYUNDAI CAPITAL AMERICA REGD 144A P/P 5.50000000                                                | CUSIP: 44891ACB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11055000 | PA      | $11116714.54   | 0.12%             | 2026-03-30      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FIRSTENERGY PEN 5.15% 03/30/26 | FIRSTENERGY PENN ELECTRI REGD 144A P/P 5.15000000                                               | CUSIP: 708696CA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1930000 | PA      | $1934242.49    | 0.02%             | 2026-03-30      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| BLACKSTONE SEC 3.625% 01/15/26 | BLACKSTONE SECURED LEND REGD 3.62500000                                                         | CUSIP: 09261LAC2<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |   9654000 | PA      | $9590775.18    | 0.10%             | 2026-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| TRUIST BANK V/R 05/20/27       | TRUIST BANK REGD V/R 4.67100000                                                                 | CUSIP: 89788JAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  72735000 | PA      | $72730401.69   | 0.75%             | 2027-05-20      | Variable      | 4.67%                 | No            |                  2 | On Loan: No      |
| US BANCORP V/R 10/21/26        | US BANCORP REGD V/R 5.72700000                                                                  | CUSIP: 91159HJH4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |  22750000 | PA      | $22799035.35   | 0.24%             | 2026-10-21      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS F 1.5% 06/10/26 | GENERAL MOTORS FINL CO REGD 1.50000000                                                          | CUSIP: 37045XDK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1947237.26    | 0.02%             | 2026-06-10      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPIT 4.2% 07/15/27 | JOHN DEERE CAPITAL CORP REGD MTN 4.20000000                                                     | CUSIP: 24422EXV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  27370000 | PA      | $27391602.32   | 0.28%             | 2027-07-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| AESOP 2023-7A A 5.9% 08/20/27  | AVIS BUDGET RENTAL CAR FUNDING AESOP LLC SER 2023-7A CL A REGD 144A P/P 5.90000000              | CUSIP: 05377RHL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   9500000 | PA      | $9707440.10    | 0.10%             | 2028-08-21      | Fixed         | 5.90%                 | Yes           |                  2 | On Loan: No      |
| FELLS POINT FU 3.046% 01/31/27 | FELLS POINT FUNDING TR REGD 144A P/P 3.04600000                                                 | CUSIP: 314382AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1930000 | PA      | $1886217.24    | 0.02%             | 2027-01-31      | Fixed         | 3.05%                 | Yes           |                  2 | On Loan: No      |
| DK 2024-SPBX A V/R 03/15/26    | DK TRUST 2024-SPBX SER 2024-SPBX CL A V/R REGD 144A P/P 5.84194000                              | CUSIP: 23346LAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  20885000 | PA      | $20937212.50   | 0.22%             | 2034-03-15      | Variable      | 5.84%                 | Yes           |                  2 | On Loan: No      |
| CANADIAN IMPER 5.001% 04/28/28 | CANADIAN IMPERIAL BANK REGD 5.00100000                                                          | CUSIP: 13607LNG4<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |  19725000 | PA      | $20056147.64   | 0.21%             | 2028-04-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON NATION V/R 05/17/28 | HUNTINGTON NATIONAL BANK REGD V/R 4.55200000                                                    | CUSIP: 44644MAF8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1915000 | PA      | $1916945.26    | 0.02%             | 2028-05-17      | Variable      | 4.55%                 | No            |                  2 | On Loan: No      |
| T/L CLEAN HARBORS 0% 10/08/28  | T/L CLEAN HARBORS INC 0.00000000                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  40273980 | PA      | $40525692.00   | 0.42%             | 2028-10-08      | Variable      | 6.11%                 | No            |                  2 | On Loan: No      |
| ONDK 2024-1A A 6.27% 06/17/27  | ONDECK ASSET SECURITIZATION TRUST IV LLC SER 2024-1A CL A REGD 144A P/P 6.27000000              | CUSIP: 67118NAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  19615000 | PA      | $19761327.90   | 0.21%             | 2031-06-17      | Fixed         | 6.27%                 | Yes           |                  2 | On Loan: No      |
| ROCHE HOLDINGS  4.79% 03/08/29 | ROCHE HOLDINGS INC REGD 144A P/P 4.79000000                                                     | CUSIP: 771196CJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22000000 | PA      | $22351091.40   | 0.23%             | 2029-03-08      | Fixed         | 4.79%                 | Yes           |                  2 | On Loan: No      |
| WFNMT 2024-B A 4.62% 07/15/27  | WORLD FINANCIAL NETWORK CREDIT CARD MASTER NOTE TRUST 2024-B SER 2024-B CL A REGD 4.62000000    | CUSIP: 981464HU7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  32195000 | PA      | $32306275.58   | 0.34%             | 2031-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKIN 5.457% 11/18/27 | WESTPAC BANKING CORP REGD 5.45700000                                                            | CUSIP: 961214FK4<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |  26655000 | PA      | $27362420.77   | 0.28%             | 2027-11-18      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CRE 3.375% 11/13/25 | FORD MOTOR CREDIT CO LLC REGD 3.37500000                                                        | CUSIP: 345397B28<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  73945000 | PA      | $73577077.78   | 0.76%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| MEDTRONIC GLOBA 4.25% 03/30/28 | MEDTRONIC GLOBAL HLDINGS REGD 4.25000000                                                        | CUSIP: 58507LBB4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |  22215000 | PA      | $22206850.87   | 0.23%             | 2028-03-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| VDCR 2023-1A A2A 5% 09/15/28   | RETAINED VANTAGE DATA CENTERS ISSUER LLC SER 2023-1A CL A2A REGD 144A P/P 5.00000000            | CUSIP: 76134KAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  23320000 | PA      | $22997759.58   | 0.24%             | 2048-09-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| NRG ENERGY INC 2% 12/02/25     | NRG ENERGY INC REGD 144A P/P 2.00000000                                                         | CUSIP: 629377CN0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1910000 | PA      | $1888392.72    | 0.02%             | 2025-12-02      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| FORDF 2025-1 A 4.63% 04/15/28  | FORD CREDIT FLOORPLAN MASTER OWNER TRUST A SER 2025-1 CL A1 REGD 4.63000000                     | CUSIP: 34529BAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  20530000 | PA      | $20673239.86   | 0.21%             | 2030-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ILLUMINA INC 5.75% 12/13/27    | ILLUMINA INC REGD 5.75000000                                                                    | CUSIP: 452327AP4<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | DBT              | CORP              | US        |   1910000 | PA      | $1952267.36    | 0.02%             | 2027-12-13      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| OMFIT 2025-1A  4.82% 10/14/29  | ONEMAIN FINANCIAL ISSUANCE TRUST 2025-1 SER 2025-1A CL A REGD 144A P/P 4.82000000               | CUSIP: 68270DAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  25010000 | PA      | $25057886.65   | 0.26%             | 2038-07-14      | Fixed         | 4.82%                 | Yes           |                  2 | On Loan: No      |
| RMIT 2025-1 A 4.99% 04/17/34   | REGIONAL MANAGEMENT ISSUANCE TRUST 2025-1 SER 2025-1 CL A REGD 144A P/P 4.99000000              | CUSIP: 75908AAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  30830000 | PA      | $30949879.37   | 0.32%             | 2034-04-17      | Fixed         | 4.99%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER HOLDING V/R 03/20/29 | SANTANDER HOLDINGS USA REGD V/R 5.47300000                                                      | CUSIP: 80282KBN5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  28865000 | PA      | $29333518.78   | 0.30%             | 2029-03-20      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| CAALT 2023-1A  7.71% 11/16/26  | CREDIT ACCEPTANCE AUTO LOAN TRUST 2023-1 SER 2023-1A CL C REGD 144A P/P 7.71000000              | CUSIP: 224927AE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6470000 | PA      | $6618516.91    | 0.07%             | 2033-07-15      | Fixed         | 7.71%                 | Yes           |                  2 | On Loan: No      |
| GA GLOBAL FUNDIN 5.5% 01/08/29 | GA GLOBAL FUNDING TRUST REGD 144A P/P 5.50000000                                                | CUSIP: 36143L2L8<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |  17225000 | PA      | $17609238.25   | 0.18%             | 2029-01-08      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| PENNANTPARK INVEST 4% 11/01/26 | PENNANTPARK INVESTMENT C REGD 4.00000000                                                        | CUSIP: 708062AD6<br>LEI: 529900OK432R4C6NQQ73 | Long             | DBT              | CORP              | US        |  17345000 | PA      | $16685336.35   | 0.17%             | 2026-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| T/L UGI ENERGY 0% 02/22/30     | T/L UGI ENERGY SERVICES LLC    REGD 0.00000000                                                  | CUSIP: 90276DAE9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  16921637 | PA      | $16973078.67   | 0.18%             | 2030-02-22      | Variable      | 6.86%                 | No            |                  2 | On Loan: No      |
| NOVARTIS CAPITAL 3.8% 09/18/29 | NOVARTIS CAPITAL CORP REGD 3.80000000                                                           | CUSIP: 66989HAT5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22990000 | PA      | $22688878.13   | 0.24%             | 2029-09-18      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY TRU 4.5% 09/01/26 | ARBOR REALTY TRUST INC REGD 144A P/P SER QIB 4.50000000                                         | CUSIP: 038923AX6<br>LEI: 549300ASFUWYQO0RW077 | Long             | DBT              | CORP              | US        |  19450000 | PA      | $18794296.54   | 0.20%             | 2026-09-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| FNMA P887626 V/R 07/01/36      | FNMA P887626 V/R 07/01/36 6.71400000                                                            | CUSIP: 31410FD77<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     14569 | PA      | $15074.37      | 0.00%             | 2036-07-01      | Variable      | 6.71%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC 5.15% 06/25/26  | HOME DEPOT INC REGD 5.15000000                                                                  | CUSIP: 437076CZ3<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |  22320000 | PA      | $22476909.15   | 0.23%             | 2026-06-25      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND  1.75% 01/30/26 | AERCAP IRELAND CAP/GLOBA REGD 1.75000000                                                        | CUSIP: 00774MAS4<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |  36248000 | PA      | $35756897.23   | 0.37%             | 2026-01-30      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE G 4.55% 01/28/33 | NEW YORK LIFE GLOBAL FDG REGD 144A P/P MTN 4.55000000                                           | CUSIP: 64952WEZ2<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |   2185000 | PA      | $2147016.59    | 0.02%             | 2033-01-28      | Fixed         | 4.55%                 | Yes           |                  2 | On Loan: No      |
| REPS 2021-A A 2.3% 10/20/25    | REPUBLIC FINANCE ISSUANCE TRUST 2021-A SER 2021-A CL A REGD 144A P/P 2.30000000                 | CUSIP: 76042UAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  12924900 | PA      | $12859855.47   | 0.13%             | 2031-12-22      | Fixed         | 2.30%                 | Yes           |                  2 | On Loan: No      |
| PNC BANK NA V/R 05/13/27       | PNC BANK NA REGD V/R 4.54300000                                                                 | CUSIP: 69353RFY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  45895000 | PA      | $45838646.91   | 0.48%             | 2027-05-13      | Variable      | 4.54%                 | No            |                  2 | On Loan: No      |
| SYMP 2012-9A AR3 V/R 07/16/32  | CALIFORNIA STREET CLO IX LP SER 2012-9A CL AR3 V/R REGD 144A P/P 5.67938000                     | CUSIP: 13079WDC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  37127914 | PA      | $37180335.12   | 0.39%             | 2032-07-16      | Variable      | 5.68%                 | Yes           |                  2 | On Loan: No      |
| ARES CAPITAL C 3.875% 01/15/26 | ARES CAPITAL CORP REGD 3.87500000                                                               | CUSIP: 04010LAZ6<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |  69179000 | PA      | $68889163.51   | 0.72%             | 2026-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PACIFICORP 5.45% 02/15/34      | PACIFICORP REGD 5.45000000                                                                      | CUSIP: 695114DD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1940000 | PA      | $1955692.74    | 0.02%             | 2034-02-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUN 5.448% 05/24/29 | RGA GLOBAL FUNDING REGD 144A P/P 5.44800000                                                     | CUSIP: 76209PAE3<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |  17755000 | PA      | $18249642.94   | 0.19%             | 2029-05-24      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| MAIN STREET CAPITA 3% 07/14/26 | MAIN STREET CAPITAL CORP REGD 3.00000000                                                        | CUSIP: 56035LAE4<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |  33980000 | PA      | $33340533.78   | 0.35%             | 2026-07-14      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIF  2.55% 02/01/30 | SOUTHERN CALIF GAS CO REGD SER XX 2.55000000                                                    | CUSIP: 842434CU4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1925000 | PA      | $1767980.66    | 0.02%             | 2030-02-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL 5.25% 01/08/27 | HYUNDAI CAPITAL AMERICA REGD 144A P/P 5.25000000                                                | CUSIP: 44891ACT2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11580000 | PA      | $11678839.24   | 0.12%             | 2027-01-08      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| GSAR 2025-1A A 4.71% 04/15/28  | GLS AUTO SELECT RECEIVABLES TRUST 2025-1 SER 2025-1A CL A2 REGD 144A P/P 4.71000000             | CUSIP: 36271FAB8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   9862744 | PA      | $9865109.00    | 0.10%             | 2030-04-15      | Fixed         | 4.71%                 | Yes           |                  2 | On Loan: No      |
| RGA GLOBAL FUNDI 2.7% 01/18/29 | RGA GLOBAL FUNDING REGD 144A P/P 2.70000000                                                     | CUSIP: 76209PAB9<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |   2280000 | PA      | $2135702.72    | 0.02%             | 2029-01-18      | Fixed         | 2.70%                 | Yes           |                  2 | On Loan: No      |
| SIRIUSPOINT LTD 7% 04/05/29    | SIRIUSPOINT LTD REGD 7.00000000                                                                 | CUSIP: 82969BAA0<br>LEI: 549300OGXFI85N3YZZ51 | Long             | DBT              | CORP              | BM        |  27515000 | PA      | $28861616.84   | 0.30%             | 2029-04-05      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC 4.55% 04/01/27    | SYNOPSYS INC REGD 4.55000000                                                                    | CUSIP: 871607AA5<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |  22362000 | PA      | $22397043.71   | 0.23%             | 2027-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| ADVENT HEALTH  2.952% 03/01/29 | ADVENT HEALTH SYSTEM REGD 2.95200000                                                            | CUSIP: 007944AF8<br>LEI: 5493008YM33UCY5QPW83 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $1794740.85    | 0.02%             | 2029-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| T/L STONEPEAK 0% 02/04/2032    | T/L STONEPEAK NILE PARENT LLC  REGD 0.00000000                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  23995000 | PA      | $24036991.25   | 0.25%             | 2032-02-04      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO 4.55% 02/12/28  | ELI LILLY & CO REGD 4.55000000                                                                  | CUSIP: 532457CU0<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |  48105000 | PA      | $48604482.87   | 0.50%             | 2028-02-12      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINAN 2.75% 05/14/31 | BUNGE LTD FINANCE CORP REGD 2.75000000                                                          | CUSIP: 120568BC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2420000 | PA      | $2183071.81    | 0.02%             | 2031-05-14      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME C 5.05% 01/13/26 | REALTY INCOME CORP REGD 5.05000000                                                              | CUSIP: 756109BQ6<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |  14480000 | PA      | $14472345.87   | 0.15%             | 2026-01-13      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| OPTN 2025-B A 4.88% 05/09/33   | OPORTUN ISSUANCE TRUST 2025-B SER 2025-B CL A REGD 144A P/P 4.88000000                          | CUSIP: 68378QAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  33240000 | PA      | $33272492.10   | 0.35%             | 2033-05-09      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO & COM V/R 08/15/26 | WELLS FARGO & COMPANY REGD V/R MTN 4.54000000                                                   | CUSIP: 95000U3C5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   7920000 | PA      | $7918202.79    | 0.08%             | 2026-08-15      | Variable      | 4.54%                 | No            |                  2 | On Loan: No      |
| BOLT 2025-1CON A 0% 08/18/36   | BHG OWNER LOAN TRUST SERIES 2025-1CON SER 2025-1CON CL A REGD 144A P/P 0.00000000               | CUSIP: 08860KAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  33270000 | PA      | $33166863.00   | 0.34%             | 2036-08-18      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| ATHENE GLOBAL  5.684% 02/23/26 | ATHENE GLOBAL FUNDING REGD 144A P/P 5.68400000                                                  | CUSIP: 04685A3S8<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |  35075000 | PA      | $35282554.56   | 0.37%             | 2026-02-23      | Fixed         | 5.68%                 | Yes           |                  2 | On Loan: No      |
| OMFIT 2022-S1  4.13% 08/14/26  | ONEMAIN FINANCIAL ISSUANCE TRUST 2022-S1 SER 2022-S1 CL A REGD 144A P/P 4.13000000              | CUSIP: 68267HAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  10455037 | PA      | $10418876.74   | 0.11%             | 2035-05-14      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| GMCAR 2025-2 A2 4.4% 12/16/26  | GM FINANCIAL CONSUMER AUTOMOBILE RECEIVABLES TRUST 2025-2 SER 2025-2 CL A2A REGD 4.40000000     | CUSIP: 362549AB3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   9730000 | PA      | $9724785.69    | 0.10%             | 2028-02-16      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| EQUITABLE FINA 4.875% 11/19/27 | EQUITABLE FINANCIAL LIFE REGD 144A P/P 4.87500000                                               | CUSIP: 29449WAR8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1916005.30    | 0.02%             | 2027-11-19      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| T/L DELOS AIRCRAFT 0% 10/31/27 | T/L DELOS AIRCRAFT DESIGNATED  ACTIVITY COMPANY REGD 0.00000000                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | IE        |  14794875 | PA      | $14831861.92   | 0.15%             | 2027-10-31      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| BX 2025-ROIC A V/R 03/15/27    | BX TRUST 2025-ROIC SER 2025-ROIC CL A V/R REGD 144A P/P 5.48577000                              | CUSIP: 05593VAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  28200016 | PA      | $28147132.16   | 0.29%             | 2030-03-15      | Variable      | 5.49%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER HOLDING V/R 03/09/29 | SANTANDER HOLDINGS USA REGD V/R 6.49900000                                                      | CUSIP: 80282KBF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2082230.84    | 0.02%             | 2029-03-09      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| ROCHE HOLDINGS 5.265% 11/13/26 | ROCHE HOLDINGS INC REGD 144A P/P 5.26500000                                                     | CUSIP: 771196CE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  32090000 | PA      | $32490416.13   | 0.34%             | 2026-11-13      | Fixed         | 5.26%                 | Yes           |                  2 | On Loan: No      |
| SCENTRE GROUP  3.625% 01/28/26 | SCENTRE GROUP TRUST 1/2 REGD 144A P/P 3.62500000                                                | CUSIP: 80622GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |  19215000 | PA      | $19108389.99   | 0.20%             | 2026-01-28      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| REPS 2024-B A 5.42% 11/20/28   | REPUBLIC FINANCE ISSUANCE TRUST 2024-B SER 2024-B CL A REGD 144A P/P 5.42000000                 | CUSIP: 76042GAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  21950000 | PA      | $22175597.71   | 0.23%             | 2037-11-20      | Fixed         | 5.42%                 | Yes           |                  2 | On Loan: No      |
| PPWR 2024-A A 5.89% 08/15/28   | PURCHASING POWER FUNDING 2024-A LLC SER 2024-A CL A REGD 144A P/P 5.89000000                    | CUSIP: 745935AA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  31020000 | PA      | $31106880.82   | 0.32%             | 2028-08-15      | Fixed         | 5.89%                 | Yes           |                  2 | On Loan: No      |
| UBS GROUP AG V/R 01/12/27      | UBS GROUP AG REGD V/R P/P 5.71100000                                                            | CUSIP: 902613AU2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  53570000 | PA      | $53794133.67   | 0.56%             | 2027-01-12      | Variable      | 5.71%                 | Yes           |                  2 | On Loan: No      |
| STRAT CREDIT OP 4.25% 04/01/26 | STRAT CREDIT OPP PARTNRS REGD P/P 4.25000000                                                    | CUSIP: 86275#AA1<br>LEI: 5493003CSKFS2RY0JR63 | Long             | DBT              | CORP              | US        |  25095000 | PA      | $24860637.80   | 0.26%             | 2026-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN COASTA 7.25% 12/15/27 | AMERICAN COASTAL INSURAN REGD 7.25000000                                                        | CUSIP: 910710AA0<br>LEI: 5299002P9105LJQA8G51 | Long             | DBT              | CORP              | US        |  26415000 | PA      | $26150850.00   | 0.27%             | 2027-12-15      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FI 4.8% 11/13/26 | MERCEDES-BENZ FIN NA REGD 144A P/P 4.80000000                                                   | CUSIP: 58769JBB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  31410000 | PA      | $31559616.82   | 0.33%             | 2026-11-13      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| FNMA D/N 08/01/25              | FANNIE MAE DISCOUNT NOTES 0.00000000                                                            | CUSIP: 313589JW4<br>LEI: N/A                  | Long             | STIV             | USGA              | US        |  30425000 | PA      | $30425000.00   | 0.32%             | 2025-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER &  5.1% 04/01/33 | FLORIDA POWER & LIGHT CO REGD 5.10000000                                                        | CUSIP: 341081GL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2141500.60    | 0.02%             | 2033-04-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL  4.65% 08/13/26 | BMW US CAPITAL LLC REGD 144A P/P 4.65000000                                                     | CUSIP: 05565ECP8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21515000 | PA      | $21538076.77   | 0.22%             | 2026-08-13      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| MDPK 2023-63A A1 V/R 07/21/38  | MADISON PARK FUNDING LXIII LTD SER 2023-63A CL A1R V/R REGD 144A P/P 5.72549000                 | CUSIP: 55817GAN1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  38520000 | PA      | $38673825.77   | 0.40%             | 2038-07-21      | Variable      | 5.73%                 | Yes           |                  2 | On Loan: No      |
| TARGA RESOURCES  5.2% 07/01/27 | TARGA RESOURCES CORP REGD 5.20000000                                                            | CUSIP: 87612KAA0<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2023233.68    | 0.02%             | 2027-07-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| PRINCIPAL LFE GLB  5% 01/16/27 | PRINCIPAL LFE GLB FND II REGD 144A P/P 5.00000000                                               | CUSIP: 74256LEX3<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |  12560000 | PA      | $12658176.12   | 0.13%             | 2027-01-16      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| DUKE ENERGY PR 1.295% 07/01/28 | DUKE ENERGY PROGRESS NC REGD SER A-1 1.29500000                                                 | CUSIP: 26444BAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  26418254 | PA      | $24968974.66   | 0.26%             | 2028-07-01      | Fixed         | 1.29%                 | No            |                  2 | On Loan: No      |
| BHG 2023-B A 6.92% 01/17/30    | BHG SECURITIZATION TRUST 2023-B SER 2023-B CL A REGD 144A P/P 6.92000000                        | CUSIP: 08862GAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3285276 | PA      | $3393925.10    | 0.04%             | 2036-12-17      | Fixed         | 6.92%                 | Yes           |                  2 | On Loan: No      |
| MASSMUTUAL GLOBA 5.1% 04/09/27 | MASSMUTUAL GLOBAL FUNDIN REGD 144A P/P MTN 5.10000000                                           | CUSIP: 57629W4S6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1924000 | PA      | $1946592.70    | 0.02%             | 2027-04-09      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| MDCP 2020-3A  2.954% 11/20/26  | ELM 2020-3 TRUST SER 2020-3A CL A2 REGD 144A P/P 2.95400000                                     | CUSIP: 289338AB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1426555 | PA      | $1422940.91    | 0.01%             | 2029-08-20      | Fixed         | 2.95%                 | Yes           |                  2 | On Loan: No      |
| BRIGHTHSE FIN G 5.55% 04/09/27 | BRIGHTHSE FIN GLBL FUND REGD 144A P/P MTN 5.55000000                                            | CUSIP: 10921U2J6<br>LEI: 549300BLFX3KJ2IFOA78 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $1946730.02    | 0.02%             | 2027-04-09      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| HYUNDAI CAPITAL 4.85% 03/25/27 | HYUNDAI CAPITAL AMERICA REGD 144A P/P 4.85000000                                                | CUSIP: 44891ADP9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  18920000 | PA      | $18979234.74   | 0.20%             | 2027-03-25      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| XPLR INFRASTRUCT 2.5% 06/15/26 | XPLR INFRASTRUCTURE LP REGD 144A P/P CONVERTIBLE 2.50000000                                     | CUSIP: 65341BAG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22605000 | PA      | $21673674.00   | 0.22%             | 2026-06-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| UMBS P#735676 5% 07/01/35      | FANNIE MAE POOL UMBS P#735676 5.00000000                                                        | CUSIP: 31402RJV2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1823009 | PA      | $1835503.23    | 0.02%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NESTLE CAPITAL  4.65% 03/12/29 | NESTLE CAPITAL CORP REGD 144A P/P 4.65000000                                                    | CUSIP: 64105MAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21220000 | PA      | $21532844.76   | 0.22%             | 2029-03-12      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| BANK OF NEW YORK  V/R 04/20/27 | BANK OF NEW YORK MELLON REGD V/R 4.58700000                                                     | CUSIP: 06405LAF8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  30255000 | PA      | $30291850.59   | 0.31%             | 2027-04-20      | Variable      | 4.59%                 | No            |                  2 | On Loan: No      |
| HEALTH CARE SERV 5.2% 06/15/29 | HEALTH CARE SERVICE CORP REGD 144A P/P 5.20000000                                               | CUSIP: 42218SAK4<br>LEI: 549300TMJ1FKCKECR148 | Long             | DBT              | CORP              | US        |   1910000 | PA      | $1944926.37    | 0.02%             | 2029-06-15      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| HPEFS 2023-2A  6.04% 07/20/25  | HPEFS EQUIPMENT TRUST 2023-2 SER 2023-2A CL A2 REGD 144A P/P 6.04000000                         | CUSIP: 44328UAB2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      8634 | PA      | $8639.24       | 0.00%             | 2031-01-21      | Fixed         | 6.04%                 | Yes           |                  2 | On Loan: No      |
| HAT HOLDINGS I 3.375% 06/15/26 | HAT HOLDINGS I LLC/HAT REGD 144A P/P 3.37500000                                                 | CUSIP: 418751AE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  48540000 | PA      | $47614342.20   | 0.49%             | 2026-06-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| CITIGROUP INC V/R 05/07/28     | CITIGROUP INC REGD V/R 4.64300000                                                               | CUSIP: 172967PZ8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  45795000 | PA      | $45841527.26   | 0.48%             | 2028-05-07      | Variable      | 4.64%                 | No            |                  2 | On Loan: No      |
| WLAKE 2023-4A  6.64% 07/15/26  | WESTLAKE AUTOMOBILE RECEIVABLES TRUST 2023-4 SER 2023-4A CL C REGD 144A P/P 6.64000000          | CUSIP: 96041AAL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7040000 | PA      | $7197788.22    | 0.07%             | 2028-11-15      | Fixed         | 6.64%                 | Yes           |                  2 | On Loan: No      |
| MARS INC 4.45% 03/01/27        | MARS INC REGD 144A P/P 4.45000000                                                               | CUSIP: 571676AW5<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |  46820000 | PA      | $46885579.84   | 0.49%             | 2027-03-01      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| CVS HEALTH CORP 5% 02/20/26    | CVS HEALTH CORP REGD 5.00000000                                                                 | CUSIP: 126650DS6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |  55622000 | PA      | $55670061.86   | 0.58%             | 2026-02-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EF HOLD/EF KY/ 5.875% 04/01/27 | EF HOLD/EF KY/ELL KY/TRS REGD 144A P/P SER QIB 5.87500000                                       | CUSIP: 26845AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |  25360000 | PA      | $24155017.57   | 0.25%             | 2027-04-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| T/L DAVITA INC ZCP 04/28/28    | T/L DAVITA INC REGD ZCP TERM LOAN 0.00000000                                                    | CUSIP: 23918VBA1<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | LON              | CORP              | US        |  31723010 | PA      | $31709686.19   | 0.33%             | 2028-04-28      | Variable      | 6.21%                 | No            |                  2 | On Loan: No      |
| GSAR 2025-3A A 4.46% 10/15/30  | GLS AUTO SELECT RECEIVABLES TRUST 2025-3 SER 2025-3A CL A2 REGD 144A P/P 4.46000000             | CUSIP: 36272GAC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  15000000 | PA      | $14984602.50   | 0.16%             | 2030-10-15      | Fixed         | 4.46%                 | Yes           |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC V/R 08/14/27 | HSBC HOLDINGS PLC REGD V/R 5.88700000                                                           | CUSIP: 404280DZ9<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  25640000 | PA      | $25956958.86   | 0.27%             | 2027-08-14      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| ONDK 2024-2A A 4.98% 10/18/27  | ONDECK ASSET SECURITIZATION TRUST IV LLC SER 2024-2A CL A REGD 144A P/P 4.98000000              | CUSIP: 67108SAD0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  13920000 | PA      | $13819219.20   | 0.14%             | 2031-10-17      | Fixed         | 4.98%                 | Yes           |                  2 | On Loan: No      |
| EART 2025-1A A 4.67% 08/15/26  | EXETER AUTOMOBILE RECEIVABLES TRUST 2025-1 SER 2025-1A CL A3 REGD 4.67000000                    | CUSIP: 30167MAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  13000000 | PA      | $12998209.90   | 0.13%             | 2028-08-15      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| NAROT 2023-B A 5.93% 11/16/26  | NISSAN AUTO RECEIVABLES 2023-B OWNER TRUST SER 2023-B CL A3 REGD 5.93000000                     | CUSIP: 65480MAD5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5926501 | PA      | $5971044.43    | 0.06%             | 2028-03-15      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| NATWEST MARKET 4.789% 03/21/28 | NATWEST MARKETS PLC REGD 144A P/P 4.78900000                                                    | CUSIP: 63906YAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |  19015000 | PA      | $19179373.27   | 0.20%             | 2028-03-21      | Fixed         | 4.79%                 | Yes           |                  2 | On Loan: No      |
| T/L LUMEN TECHNOL ZCP 04/15/30 | T/L LUMEN TECHNOLOGIES INC REGD ZCP TERM LOAN 0.00000000                                        | CUSIP: 55024EAG0<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |   9290615 | PA      | $9228181.75    | 0.10%             | 2030-04-15      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| T/L MPH ACQUIS 0% 12/31/30     | T/L MPH ACQUISITION HOLDINGS   LLC REGD 0.00000000                                              | CUSIP: 55328HAQ4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  31678884 | PA      | $28280056.36   | 0.29%             | 2030-12-31      | Variable      | 9.17%                 | No            |                  2 | On Loan: No      |
| T/L ALLSPRING BUY ZCP 11/01/30 | T/L ALLSPRING BUYER LLC REGD ZCP TERM LOAN 0.00000000                                           | CUSIP: 98922AAE6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  20364100 | PA      | $20405846.82   | 0.21%             | 2030-11-01      | Variable      | 7.31%                 | No            |                  2 | On Loan: No      |
| GCPAF 2021-2A 2.943% 10/19/29  | GOLUB CAPITAL PARTNERS ABS FUNDING 2021-2 LTD SER 2021-2A CL A REGD 144A P/P 2.94360000         | CUSIP: 38178XAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  40343540 | PA      | $39319068.39   | 0.41%             | 2029-10-19      | Fixed         | 2.94%                 | Yes           |                  2 | On Loan: No      |
| PENNANTPARK FLO 4.25% 04/01/26 | PENNANTPARK FLOATING RAT REGD 4.25000000                                                        | CUSIP: 70806AAA4<br>LEI: 529900BH3IP6381K4L72 | Long             | DBT              | CORP              | US        |   4270000 | PA      | $4209085.46    | 0.04%             | 2026-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| US T BILL ZCP 08/26/25         | UNITED STATES TREASURY BILL ZCP 0.00000000                                                      | CUSIP: 912797QL4<br>LEI: N/A                  | Long             | STIV             | UST               | US        | 103630000 | PA      | $103323437.70  | 1.07%             | 2025-08-26      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| JACKSON NATL LI 5.55% 07/02/27 | JACKSON NATL LIFE GLOBAL REGD 144A P/P 5.55000000                                               | CUSIP: 46849LVA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2059000 | PA      | $2094821.99    | 0.02%             | 2027-07-02      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| NAVMT 2024-1 A 5.59% 04/25/26  | NAVISTAR FINANCIAL DEALER NOTE MASTER OWNER TRUST SER 2024-1 CL A REGD 144A P/P 5.59000000      | CUSIP: 63938PBW8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  10242000 | PA      | $10307036.70   | 0.11%             | 2029-04-25      | Fixed         | 5.59%                 | Yes           |                  2 | On Loan: No      |
| UMBS P#889633 5.5% 08/01/37    | FANNIE MAE POOL UMBS P#889633 5.50000000                                                        | CUSIP: 31410KLN2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    107130 | PA      | $110009.90     | 0.00%             | 2037-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MFIT 2025-AA A 4.98% 05/20/29  | MARINER FINANCE ISSUANCE TRUST 2025-A SER 2025-AA CL A REGD 144A P/P 4.98000000                 | CUSIP: 567920AA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  14700000 | PA      | $14815897.74   | 0.15%             | 2038-05-20      | Variable      | 4.98%                 | Yes           |                  2 | On Loan: No      |
| HCA INC 5.875% 02/15/26        | HCA INC REGD 5.87500000                                                                         | CUSIP: 404119BS7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  31880000 | PA      | $31903882.58   | 0.33%             | 2026-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CNO GLOBAL FUN 5.875% 06/04/27 | CNO GLOBAL FUNDING REGD 144A P/P MTN 5.87500000                                                 | CUSIP: 18977W2D1<br>LEI: 6354008GTNR4833ULD48 | Long             | DBT              | CORP              | US        |   1910000 | PA      | $1954199.44    | 0.02%             | 2027-06-04      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| STATE STREET CORP V/R 11/04/26 | STATE STREET CORP REGD V/R 5.75100000                                                           | CUSIP: 857477BX0<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |  10085000 | PA      | $10110328.28   | 0.10%             | 2026-11-04      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| CONCENTRIX CORP 6.6% 08/02/28  | CONCENTRIX CORP REGD 6.60000000                                                                 | CUSIP: 20602DAB7<br>LEI: 5493000EAJN1KMPVA737 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2094213.28    | 0.02%             | 2028-08-02      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| AXIS 2024-2A A 5.19% 04/20/28  | AMUR EQUIPMENT FINANCE RECEIVABLES XIV LLC SER 2024-2A CL A2 REGD 144A P/P 5.19000000           | CUSIP: 03238BAB9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  16511667 | PA      | $16614957.31   | 0.17%             | 2031-07-21      | Fixed         | 5.19%                 | Yes           |                  2 | On Loan: No      |
| T/L ELANCO ANIMAL 0% 8/1/27    | T/L ELANCO ANIMAL HEALTH       INCORPORATED REGD 0.00000000                                     | CUSIP: 28414BAF3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  40044828 | PA      | $40000378.25   | 0.42%             | 2027-08-01      | Variable      | 6.18%                 | No            |                  2 | On Loan: No      |
| T/L HEALTHPEAK OP ZCP 03/01/29 | T/L HEALTHPEAK OP LLC REGD ZCP TERM LOAN 0.00000000                                             | CUSIP: 42250UAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5448842 | PA      | $5285376.69    | 0.05%             | 2029-03-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| ACCENTURE CAPIT 4.05% 10/04/29 | ACCENTURE CAPITAL INC REGD 4.05000000                                                           | CUSIP: 00440KAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1978043.92    | 0.02%             | 2029-10-04      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ F 4.65% 04/01/27 | MERCEDES-BENZ FIN NA REGD 144A P/P 4.65000000                                                   | CUSIP: 58769JBC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  57680000 | PA      | $57812559.02   | 0.60%             | 2027-04-01      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| BJETS 2022-1A 4.455% 06/15/28  | BUSINESS JET SECURITIES 2022-1 LLC SER 2022-1A CL A REGD 144A P/P 4.45500000                    | CUSIP: 12327AAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6019476 | PA      | $5892257.08    | 0.06%             | 2037-06-15      | Fixed         | 4.46%                 | Yes           |                  2 | On Loan: No      |
| OPTN 2022-A A 5.05% 06/09/31   | OPORTUN ISSUANCE TRUST 2022-3 SER 2022-A CL A REGD 144A P/P 5.05000000                          | CUSIP: 68378NAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2970982 | PA      | $2969380.67    | 0.03%             | 2031-06-09      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| CCG 2025-1 A2 4.48% 10/14/32   | CCG RECEIVABLES TRUST 2025-1 SER 2025-1 CL A2 REGD 144A P/P 4.48000000                          | CUSIP: 12515XAB6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  20650000 | PA      | $20679197.04   | 0.21%             | 2032-10-14      | Fixed         | 4.48%                 | Yes           |                  2 | On Loan: No      |
| HERTZ 2025-1A  4.91% 09/25/28  | HERTZ VEHICLE FINANCING III LLC SER 2025-1A CL A REGD 144A P/P 4.91000000                       | CUSIP: 42806MCT4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  20210000 | PA      | $20165038.81   | 0.21%             | 2029-09-25      | Fixed         | 4.91%                 | Yes           |                  2 | On Loan: No      |
| BMW US CAPITAL  4.65% 03/19/27 | BMW US CAPITAL LLC REGD 144A P/P 4.65000000                                                     | CUSIP: 05565ECU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  27240000 | PA      | $27323484.33   | 0.28%             | 2027-03-19      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| PNC FINANCIAL SER V/R 10/20/27 | PNC FINANCIAL SERVICES REGD V/R 6.61500000                                                      | CUSIP: 693475BT1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |  25345000 | PA      | $25944040.48   | 0.27%             | 2027-10-20      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| US T BILL ZCP 08/21/25         | UNITED STATES TREASURY BILL ZCP 0.00000000                                                      | CUSIP: 912797PP6<br>LEI: N/A                  | Long             | STIV             | UST               | US        |  88475000 | PA      | $88267550.70   | 0.92%             | 2025-08-21      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO 4.15% 08/14/27  | ELI LILLY & CO REGD 4.15000000                                                                  | CUSIP: 532457CP1<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |  46200000 | PA      | $46247552.74   | 0.48%             | 2027-08-14      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| AXIS 2024-1A A 5.38% 01/21/31  | AMUR EQUIPMENT FINANCE RECEIVABLES XIII LLC SER 2024-1A CL A2 REGD 144A P/P 5.38000000          | CUSIP: 03237CAB8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  13676824 | PA      | $13781468.44   | 0.14%             | 2031-01-21      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CVS HEALTH CORP 5.7% 06/01/34  | CVS HEALTH CORP REGD 5.70000000                                                                 | CUSIP: 126650ED8<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1910000 | PA      | $1955931.97    | 0.02%             | 2034-06-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| PSTAT 2022-1A A1 V/R 04/15/30  | PALMER SQUARE LOAN FUNDING 2022-1 LTD SER 2022-1A CL A1 V/R REGD 144A P/P 5.36755000            | CUSIP: 69701CAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4072817 | PA      | $4069242.33    | 0.04%             | 2030-04-15      | Variable      | 5.37%                 | Yes           |                  2 | On Loan: No      |
| DEFT 2025-1 A2 4.68% 01/22/27  | DELL EQUIPMENT FINANCE TRUST 2025-1 SER 2025-1 CL A2 REGD 144A P/P 4.68000000                   | CUSIP: 24703UAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   8190000 | PA      | $8206039.30    | 0.09%             | 2027-07-22      | Fixed         | 4.68%                 | Yes           |                  2 | On Loan: No      |
| T/L TPF II POWER 0% 10/02/2025 | T/L TPF II POWER LLC TL B 0.00000000                                                            | CUSIP: 87264NAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  20705672 | PA      | $20770480.97   | 0.22%             | 2025-10-02      | Variable      | 9.61%                 | No            |                  2 | On Loan: No      |
| F&G GLOBAL FUN 5.875% 06/10/27 | F&G GLOBAL FUNDING REGD 144A P/P MTN 5.87500000                                                 | CUSIP: 30321L2G6<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |  34080000 | PA      | $34799860.93   | 0.36%             | 2027-06-10      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| PNC FINANCIAL SER V/R 06/06/33 | PNC FINANCIAL SERVICES REGD V/R 4.62600000                                                      | CUSIP: 693475BE4<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2141657.96    | 0.02%             | 2033-06-06      | Variable      | 4.63%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE U 4.6% 04/07/27 | AMRIZE FINANCE US LLC REGD 144A P/P 4.60000000                                                  | CUSIP: 43475RAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  29770000 | PA      | $29777988.48   | 0.31%             | 2027-04-07      | Fixed         | 4.60%                 | Yes           |                  2 | On Loan: No      |
| CGCC 2014-FL2 C V/R 11/15/31   | CG-CCRE COMMERCIAL MORTGAGE TRUST 2014-FL2 SER 2014-FL2 CL C V/R REGD 144A P/P 7.35642000       | CUSIP: 12528PAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  23002792 | PA      | $18533765.69   | 0.19%             | 2031-11-15      | Variable      | 7.36%                 | Yes           |                  2 | On Loan: No      |
| TOYOTA MOTOR CR 5.45% 11/10/27 | TOYOTA MOTOR CREDIT CORP REGD 5.45000000                                                        | CUSIP: 89236TKL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  33086000 | PA      | $33952653.03   | 0.35%             | 2027-11-10      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINA 4.2% 10/29/25 | CAPITAL ONE FINANCIAL CO REGD 4.20000000                                                        | CUSIP: 14040HBJ3<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        | 111620000 | PA      | $111412661.39  | 1.16%             | 2025-10-29      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| BXMT 2020-FL3 A V/R 11/15/37   | BXMT 2020-FL3 LTD SER 2020-FL3 CL A V/R REGD 144A P/P 6.35761000                                | CUSIP: 05608XAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6949731 | PA      | $6941117.88    | 0.07%             | 2037-11-15      | Variable      | 6.36%                 | Yes           |                  2 | On Loan: No      |
| OCT41 2019-2A A1 V/R 10/15/33  | OCTAGON INVESTMENT PARTNERS 41 LTD SER 2019-2A CL A1R2 V/R REGD 144A P/P 5.40755000             | CUSIP: 67592FBA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  48100000 | PA      | $48086233.78   | 0.50%             | 2033-10-15      | Variable      | 5.41%                 | Yes           |                  2 | On Loan: No      |
| JOHN DEERE CAPIT 4.9% 03/07/31 | JOHN DEERE CAPITAL CORP REGD MTN 4.90000000                                                     | CUSIP: 24422EXN4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1935000 | PA      | $1969481.43    | 0.02%             | 2031-03-07      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| T/L BCP RENAISSANC 0% 10/31/28 | T/L BCP RENAISSANCE PARENT     L.L.C. 0% 0.00000000                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   9733786 | PA      | $9747705.41    | 0.10%             | 2028-10-31      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| FORDF 2024-3 A1 4.3% 09/15/27  | FORD CREDIT FLOORPLAN MASTER OWNER TRUST A SER 2024-3 CL A1 REGD 144A P/P 4.30000000            | CUSIP: 34528QJK1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  30550000 | PA      | $30482075.13   | 0.32%             | 2029-09-15      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN HONDA  4.45% 10/22/27 | AMERICAN HONDA FINANCE REGD MTN SER GMTN 4.45000000                                             | CUSIP: 02665WFT3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2155000 | PA      | $2155800.60    | 0.02%             | 2027-10-22      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BA V/R 01/12/29 | MORGAN STANLEY BANK NA REGD V/R 5.01600000                                                      | CUSIP: 61690DK72<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  24600000 | PA      | $24904352.92   | 0.26%             | 2029-01-12      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| T/L BUCKEYE PARTNE 0% 11/01/26 | T/L BUCKEYE PARTNERS L.P. 0% 0.00000000                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   8804219 | PA      | $8811526.64    | 0.09%             | 2026-11-01      | Variable      | 6.11%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA 4.576% 05/29/27    | CITIBANK NA REGD 4.57600000                                                                     | CUSIP: 17325FBN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  45775000 | PA      | $45904663.18   | 0.48%             | 2027-05-29      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| PACIFIC LIFE GF  4.9% 04/04/28 | PACIFIC LIFE GF II REGD 144A P/P 4.90000000                                                     | CUSIP: 6944PL2S7<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |  37490000 | PA      | $37953485.87   | 0.39%             | 2028-04-04      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: No      |
| ATHENE GLOBAL  5.349% 07/09/27 | ATHENE GLOBAL FUNDING REGD 144A P/P 5.34900000                                                  | CUSIP: 04685A3X7<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $25330087.50   | 0.26%             | 2027-07-09      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| FHLMC P#1N0333 V/R 12/01/36    | FREDDIE MAC NON GOLD POOL P#1N0333 V/R 6.36500000                                               | CUSIP: 3128QGLN0<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     11125 | PA      | $11484.48      | 0.00%             | 2036-12-01      | Variable      | 6.37%                 | No            |                  2 | On Loan: No      |
| ATLANTIC CITY EL 2.3% 03/15/31 | ATLANTIC CITY ELECTRIC REGD 2.30000000                                                          | CUSIP: 048303CJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1705902.43    | 0.02%             | 2031-03-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| PIONEER NATURAL  5.1% 03/29/26 | PIONEER NATURAL RESOURCE REGD 5.10000000                                                        | CUSIP: 723787AV9<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | DBT              | CORP              | US        |   2040000 | PA      | $2047605.22    | 0.02%             | 2026-03-29      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COM V/R 03/24/28 | WELLS FARGO & COMPANY REGD V/R MTN 3.52600000                                                   | CUSIP: 95000U2V4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $1894499.26    | 0.02%             | 2028-03-24      | Variable      | 3.53%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINAN V/R 10/29/27 | CAPITAL ONE FINANCIAL CO REGD V/R 7.14900000                                                    | CUSIP: 14040HDB8<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |  12080000 | PA      | $12442228.10   | 0.13%             | 2027-10-29      | Variable      | 7.15%                 | No            |                  2 | On Loan: No      |
| TMUST 2024-1A  5.05% 02/22/27  | T-MOBILE US TRUST 2024-1 SER 2024-1A CL A REGD 144A P/P 5.05000000                              | CUSIP: 87267RAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  12345000 | PA      | $12413602.40   | 0.13%             | 2029-09-20      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| SVENSKA HANDELSB 5.5% 06/15/28 | SVENSKA HANDELSBANKEN AB REGD 144A P/P 5.50000000                                               | CUSIP: 86959LAP8<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |  29095000 | PA      | $29933041.91   | 0.31%             | 2028-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| US T BILL ZCP 08/05/25         | UNITED STATES TREASURY BILL ZCP 0.00000000                                                      | CUSIP: 912797QH3<br>LEI: N/A                  | Long             | STIV             | UST               | US        | 137180000 | PA      | $137115773.70  | 1.42%             | 2025-08-05      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| DPATH 2022-1A A1 V/R 01/15/37  | DEERPATH CAPITAL CLO 2022-1 LTD SER 2022-1A CL A1R V/R REGD 144A P/P 6.01755000                 | CUSIP: 24461BAL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |  11100000 | PA      | $11110505.04   | 0.12%             | 2037-01-15      | Variable      | 6.02%                 | Yes           |                  2 | On Loan: No      |
| US BANCORP V/R 06/12/29        | US BANCORP REGD V/R 5.77500000                                                                  | CUSIP: 91159HJM3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1910000 | PA      | $1977508.42    | 0.02%             | 2029-06-12      | Variable      | 5.78%                 | No            |                  2 | On Loan: No      |
| REXFORD INDUSTRIAL 5% 06/15/28 | REXFORD INDUSTRIAL REALT REGD 5.00000000                                                        | CUSIP: 76169XAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  29500000 | PA      | $29728070.40   | 0.31%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEUB 2020-38A AR V/R 10/20/36  | NEUBERGER BERMAN LOAN ADVISERS CLO 3 SER 2020-38A CL AR2 V/R REGD 144A P/P 5.28549000           | CUSIP: 64133RAU0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  52000000 | PA      | $52026405.60   | 0.54%             | 2036-10-20      | Variable      | 5.29%                 | Yes           |                  2 | On Loan: No      |
| PHILIP MORRIS  4.875% 02/13/29 | PHILIP MORRIS INTL INC REGD 4.87500000                                                          | CUSIP: 718172DG1<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2026745.70    | 0.02%             | 2029-02-13      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| T/L IQVIA INC 00.00% 01/02/31  | T/L IQVIA INC 0.00000000                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  17954887 | PA      | $18044661.66   | 0.19%             | 2031-01-02      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| FORDF 2023-1 A 4.92% 05/15/26  | FORD CREDIT FLOORPLAN MASTER OWNER TRUST A SER 2023-1 CL A1 REGD 144A P/P 4.92000000            | CUSIP: 34528QHV9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  10940000 | PA      | $10973884.46   | 0.11%             | 2028-05-15      | Fixed         | 4.92%                 | Yes           |                  2 | On Loan: No      |
| JPMORGAN CHASE &  V/R 01/23/28 | JPMORGAN CHASE & CO REGD V/R 5.04000000                                                         | CUSIP: 46647PEA0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2110000 | PA      | $2126577.53    | 0.02%             | 2028-01-23      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| BX 2022-CSMO A V/R 06/15/27    | BX COMMERCIAL MORTGAGE TRUST 2022-CSMO SER 2022-CSMO CL A V/R REGD 144A P/P 6.45674000          | CUSIP: 05610MAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  18100000 | PA      | $18201812.50   | 0.19%             | 2027-06-15      | Variable      | 6.46%                 | Yes           |                  2 | On Loan: No      |
| US T BILL ZCP 09/11/25         | UNITED STATES TREASURY BILL ZCP 0.00000000                                                      | CUSIP: 912797PW1<br>LEI: N/A                  | Long             | STIV             | UST               | US        |  85505000 | PA      | $85089135.74   | 0.88%             | 2025-09-11      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| FHLMC P#1Q0072 V/R 04/01/36    | FREDDIE MAC NON GOLD POOL P#1Q0072 V/R 6.79500000                                               | CUSIP: 3128S4CH8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     10571 | PA      | $10731.12      | 0.00%             | 2036-04-01      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| BX 2022-LP2 A V/R 02/15/24     | BX COMMERCIAL MORTGAGE TRUST 2022-LP2 SER 2022-LP2 CL A V/R REGD 144A P/P 5.35484000            | CUSIP: 05610HAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  29177233 | PA      | $29207440.33   | 0.30%             | 2039-02-15      | Variable      | 5.35%                 | Yes           |                  2 | On Loan: No      |
| BAE SYSTEMS PLC 5% 03/26/27    | BAE SYSTEMS PLC REGD 144A P/P 5.00000000                                                        | CUSIP: 05523RAH0<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |  11105000 | PA      | $11198301.99   | 0.12%             | 2027-03-26      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN NATION 5.25% 06/03/30 | AMERICAN NATIONAL GF REGD 144A P/P MTN 5.25000000                                               | CUSIP: 02771D2B9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  33015000 | PA      | $33198398.33   | 0.34%             | 2030-06-03      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| HUNTINGTON BANCSH V/R 08/04/28 | HUNTINGTON BANCSHARES REGD V/R 4.44300000                                                       | CUSIP: 446150BB9<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |  18414000 | PA      | $18362919.56   | 0.19%             | 2028-08-04      | Variable      | 4.44%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROU 4.95% 03/25/27 | VOLKSWAGEN GROUP AMERICA REGD 144A P/P 4.95000000                                               | CUSIP: 928668CN0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  18870000 | PA      | $18906705.55   | 0.20%             | 2027-03-25      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| EFF 2025-2 A2 4.51% 07/20/27   | ENTERPRISE FLEET FINANCING 2025-2 LLC SER 2025-2 CL A2 REGD 144A P/P 4.51000000                 | CUSIP: 29375TAB8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  18000000 | PA      | $18000646.20   | 0.19%             | 2028-02-22      | Fixed         | 4.51%                 | Yes           |                  2 | On Loan: No      |
| T/L DELTA AIR 0% 10/20/2027    | T/L DELTA AIR LINES INC REGD 0.00000000                                                         | CUSIP: 24736CBS2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  16509234 | PA      | $16571143.87   | 0.17%             | 2027-10-20      | Variable      | 8.08%                 | No            |                  2 | On Loan: No      |
| IBM CORP 4.15% 07/27/27        | IBM CORP REGD 4.15000000                                                                        | CUSIP: 459200KT7<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |   2140000 | PA      | $2136844.44    | 0.02%             | 2027-07-27      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| AGL 2021-13A A1R V/R 10/20/34  | AGL CLO 13 LTD SER 2021-13A CL A1R V/R REGD 144A P/P 0.00000000                                 | CUSIP: 00120JAL7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  15160000 | PA      | $15160000.00   | 0.16%             | 2034-10-20      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| WFLF 2023-2A A 6.46% 08/19/24  | WHEELS FLEET LEASE FUNDING 1 LLC SER 2023-2A CL A REGD 144A P/P 6.46000000                      | CUSIP: 96328GBG1<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-CBDO         | CORP              | US        |   6840291 | PA      | $6924099.95    | 0.07%             | 2038-08-18      | Fixed         | 6.46%                 | Yes           |                  2 | On Loan: No      |
| ROCHE HOLDINGS 4.203% 09/09/29 | ROCHE HOLDINGS INC REGD 144A P/P 4.20300000                                                     | CUSIP: 771196CP5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  18145000 | PA      | $18083009.97   | 0.19%             | 2029-09-09      | Fixed         | 4.20%                 | Yes           |                  2 | On Loan: No      |
| BLUE OWL TECHNO 4.75% 12/15/25 | BLUE OWL TECHNOLOGY FINA REGD 144A P/P 4.75000000                                               | CUSIP: 691205AC2<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |  44264000 | PA      | $44094638.85   | 0.46%             | 2025-12-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| KCOT 2024-1A A 5.19% 11/15/27  | KUBOTA CREDIT OWNER TRUST 2024-1 SER 2024-1A CL A3 REGD 144A P/P 5.19000000                     | CUSIP: 50117BAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   9275000 | PA      | $9376069.68    | 0.10%             | 2028-07-17      | Fixed         | 5.19%                 | Yes           |                  2 | On Loan: No      |
| KEURIG DR PEPPE 4.35% 05/15/28 | KEURIG DR PEPPER INC REGD 4.35000000                                                            | CUSIP: 49271VAZ3<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |  23580000 | PA      | $23537148.07   | 0.24%             | 2028-05-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| F/C US 5YR NOTE (CBT) SEP25    | FUTURE CONTRACT ON           US 5YR NOTE (CBT) SEP25 0.00000000                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |     -4815 | NC      | $-520847578.13 | -5.41%            |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN EXPRESS  V/R 07/28/27 | AMERICAN EXPRESS CO REGD V/R 5.38900000                                                         | CUSIP: 025816DG1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2116726.02    | 0.02%             | 2027-07-28      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| SHNTN 2015-1A  4.75% 11/15/27  | SHENTON AIRCRAFT INVESTMENT I LTD SER 2015-1A CL A REGD 144A P/P 4.75000000                     | CUSIP: 82321UAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6544852 | PA      | $6324290.00    | 0.07%             | 2042-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| GUARDIAN LIFE  4.798% 04/28/30 | GUARDIAN LIFE GLOB FUND REGD 144A P/P 4.79800000                                                | CUSIP: 40139LBK8<br>LEI: 635400NHILJ5JEKILC36 | Long             | DBT              | CORP              | US        |  24485000 | PA      | $24738416.57   | 0.26%             | 2030-04-28      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| RGA GLOBAL FUNDING 6% 11/21/28 | RGA GLOBAL FUNDING REGD 144A P/P 6.00000000                                                     | CUSIP: 76209PAC7<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |  16160000 | PA      | $16842416.44   | 0.17%             | 2028-11-21      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN NATION 5.75% 10/01/29 | AMERICAN NATIONAL GROUP REGD 5.75000000                                                         | CUSIP: 025676AN7<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |   1467000 | PA      | $1496676.84    | 0.02%             | 2029-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WOODSIDE FINANCE 3.7% 09/15/26 | WOODSIDE FINANCE LTD REGD 144A P/P 3.70000000                                                   | CUSIP: 980236AN3<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |  10072000 | PA      | $9954283.20    | 0.10%             | 2026-09-15      | Fixed         | 3.70%                 | Yes           |                  2 | On Loan: No      |
| BLUE OWL CREDI 3.125% 09/23/26 | BLUE OWL CREDIT INCOME REGD SER * 3.12500000                                                    | CUSIP: 69120VAM3<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |  18000000 | PA      | $17555631.30   | 0.18%             | 2026-09-23      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| TPDC 2023-1A A2 6% 06/25/26    | TIERPOINT ISSUER LLC SER 2023-1A CL A2 REGD 144A P/P 6.00000000                                 | CUSIP: 88651CAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2218333 | PA      | $2217071.54    | 0.02%             | 2053-06-25      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| US T BILL ZCP 08/12/25         | UNITED STATES TREASURY BILL ZCP 0.00000000                                                      | CUSIP: 912797QJ9<br>LEI: N/A                  | Long             | STIV             | UST               | US        | 100000000 | PA      | $99870597.22   | 1.04%             | 2025-08-12      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CR 4.55% 08/07/26 | TOYOTA MOTOR CREDIT CORP REGD MTN 4.55000000                                                    | CUSIP: 89236TMJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17090000 | PA      | $17112759.78   | 0.18%             | 2026-08-07      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| F&G GLOBAL FUND 1.75% 06/30/26 | F&G GLOBAL FUNDING REGD 144A P/P 1.75000000                                                     | CUSIP: 30321L2A9<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $1874542.82    | 0.02%             | 2026-06-30      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| MPLX LP 1.75% 03/01/26         | MPLX LP REGD 1.75000000                                                                         | CUSIP: 55336VBR0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1915000 | PA      | $1882726.75    | 0.02%             | 2026-03-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| BANK OF NEW ZE 4.846% 02/07/28 | BANK OF NEW ZEALAND REGD 144A P/P 4.84600000                                                    | CUSIP: 06407EAG0<br>LEI: N/A                  | Long             | DBT              | CORP              | NZ        |  19870000 | PA      | $20097541.11   | 0.21%             | 2028-02-07      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| AGCO CORP 5.45% 03/21/27       | AGCO CORP REGD 5.45000000                                                                       | CUSIP: 001084AR3<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | DBT              | CORP              | US        |  24855000 | PA      | $25048826.75   | 0.26%             | 2027-03-21      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| BLP 2023-IND A V/R 03/15/28    | BLP COMMERCIAL MORTGAGE TRUST 2023-IND SER 2023-IND CL A V/R REGD 144A P/P 6.03394000           | CUSIP: 055531AA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   9350000 | PA      | $9352921.88    | 0.10%             | 2040-03-15      | Variable      | 6.03%                 | Yes           |                  2 | On Loan: No      |
| OXFIN 2022-1A 3.602% 03/15/25  | OXFORD FINANCE FUNDING 2022-1 LLC SER 2022-1A CL A2 REGD 144A P/P 3.60200000                    | CUSIP: 69145BAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  14525252 | PA      | $14337501.49   | 0.15%             | 2030-02-15      | Fixed         | 3.60%                 | Yes           |                  2 | On Loan: No      |
| CFII 2023-1A A 5.65% 05/15/26  | CHESAPEAKE FUNDING II LLC SER 2023-1A CL A1 REGD 144A P/P 5.65000000                            | CUSIP: 165183CU6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5519080 | PA      | $5547900.02    | 0.06%             | 2035-05-15      | Fixed         | 5.65%                 | Yes           |                  2 | On Loan: No      |
| SEACO 2020-1A  2.17% 03/18/30  | GLOBAL SC FINANCE VII SRL SER 2020-1A CL A REGD 144A P/P 2.17000000                             | CUSIP: 37959PAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BB        |  13377131 | PA      | $12724950.76   | 0.13%             | 2040-10-17      | Fixed         | 2.17%                 | Yes           |                  2 | On Loan: No      |
| MERCEDES-BENZ  4.875% 07/31/26 | MERCEDES-BENZ FIN NA REGD 144A P/P 4.87500000                                                   | CUSIP: 58769JAT4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  37185000 | PA      | $37335992.67   | 0.39%             | 2026-07-31      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| NEXTERA ENERGY 5.749% 09/01/25 | NEXTERA ENERGY CAPITAL REGD 5.74900000                                                          | CUSIP: 65339KBS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  86222000 | PA      | $86275568.87   | 0.90%             | 2025-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WESTERN-SOUTHERN 4.5% 07/16/28 | WESTERN-SOUTHERN GLOBAL REGD 144A P/P 4.50000000                                                | CUSIP: 95954A2B8<br>LEI: 635400PFYEGVSGK4VB37 | Long             | DBT              | CORP              | US        |  33040000 | PA      | $33054911.61   | 0.34%             | 2028-07-16      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| PACIFIC LIFE GF  4.5% 08/28/29 | PACIFIC LIFE GF II REGD 144A P/P 4.50000000                                                     | CUSIP: 6944PL3C1<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |  14300000 | PA      | $14322462.73   | 0.15%             | 2029-08-28      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| DUKE ENERGY OH 2.125% 06/01/30 | DUKE ENERGY OHIO INC REGD 2.12500000                                                            | CUSIP: 26442EAH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1910000 | PA      | $1715772.92    | 0.02%             | 2030-06-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS F 5.4% 04/06/26 | GENERAL MOTORS FINL CO REGD 5.40000000                                                          | CUSIP: 37045XEF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  23920000 | PA      | $24031838.44   | 0.25%             | 2026-04-06      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA C V/R 04/24/28 | BANK OF AMERICA CORP REGD V/R MTN 3.70500000                                                    | CUSIP: 06051GGL7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1894223.00    | 0.02%             | 2028-04-24      | Variable      | 3.71%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIF 5.209% 04/14/26 | PROTECTIVE LIFE GLOBAL REGD 144A P/P 5.20900000                                                 | CUSIP: 74368CBS2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1925000 | PA      | $1934233.65    | 0.02%             | 2026-04-14      | Fixed         | 5.21%                 | Yes           |                  2 | On Loan: No      |
| US T BILL ZCP 10/09/25         | UNITED STATES TREASURY BILL ZCP 0.00000000                                                      | CUSIP: 912797QE0<br>LEI: N/A                  | Long             | STIV             | UST               | US        |   8000000 | PA      | $7934793.12    | 0.08%             | 2025-10-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND  4.45% 10/01/25 | AERCAP IRELAND CAP/GLOBA REGD 4.45000000                                                        | CUSIP: 00774MAG0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |  27473000 | PA      | $27458111.56   | 0.29%             | 2025-10-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| VFI 2023-1A A 7.27% 04/24/26   | VFI ABS 2023-1 LLC SER 2023-1A CL A REGD 144A P/P 7.27000000                                    | CUSIP: 92555QAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1577742 | PA      | $1584471.83    | 0.02%             | 2029-03-26      | Fixed         | 7.27%                 | Yes           |                  2 | On Loan: No      |
| CARGILL INC 4.625% 02/11/28    | CARGILL INC REGD 144A P/P 4.62500000                                                            | CUSIP: 141781CE2<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |  27600000 | PA      | $27832271.39   | 0.29%             | 2028-02-11      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| ORL 2024-GLKS A V/R 12/15/29   | ORL TRUST 2024-GLKS SER 2024-GLKS CL A V/R REGD 144A P/P 5.83444000                             | CUSIP: 67120DAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  14870000 | PA      | $14883182.26   | 0.15%             | 2039-12-15      | Variable      | 5.83%                 | Yes           |                  2 | On Loan: No      |
| GUARDIAN LIFE  4.179% 09/26/29 | GUARDIAN LIFE GLOB FUND REGD 144A P/P MTN 4.17900000                                            | CUSIP: 40139LBJ1<br>LEI: 635400NHILJ5JEKILC36 | Long             | DBT              | CORP              | US        |  41635000 | PA      | $41253657.12   | 0.43%             | 2029-09-26      | Fixed         | 4.18%                 | Yes           |                  2 | On Loan: No      |
| ARBOR REALTY TRUST 5% 04/30/26 | ARBOR REALTY TRUST INC REGD 5.00000000                                                          | CUSIP: 038923AW8<br>LEI: 549300ASFUWYQO0RW077 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9875878.70    | 0.10%             | 2026-04-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONA V/R /PERP/ | EDISON INTERNATIONAL REGD V/R /PERP/ SER A 5.37500000                                           | CUSIP: 281020AS6<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |  61690000 | PA      | $58659906.88   | 0.61%             | 2173-09-15      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| MHC 2021-MHC A V/R 04/15/26    | MHC COMMERCIAL MORTGAGE TRUST 2021-MHC SER 2021-MHC CL A V/R REGD 144A P/P 5.25744200           | CUSIP: 55316VAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4157111 | PA      | $4157111.14    | 0.04%             | 2038-04-15      | Variable      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| GMREV 2023-2 A 5.77% 11/13/28  | GM FINANCIAL REVOLVING RECEIVABLES TRUST 2023-2 SER 2023-2 CL A REGD 144A P/P 5.77000000        | CUSIP: 36268DAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  10900000 | PA      | $11372724.28   | 0.12%             | 2036-08-11      | Fixed         | 5.77%                 | Yes           |                  2 | On Loan: No      |
| DTRT 2023-1 A3 5.9% 03/15/27   | DAIMLER TRUCKS RETAIL TRUST 2023-1 SER 2023-1 CL A3 REGD 5.90000000                             | CUSIP: 233868AC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7390694 | PA      | $7430254.45    | 0.08%             | 2027-03-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| BLACKROCK TCP C 6.95% 05/30/29 | BLACKROCK TCP CAP CORP REGD 6.95000000                                                          | CUSIP: 09259EAC2<br>LEI: 549300JU1XG1HF56J989 | Long             | DBT              | CORP              | US        |  16000000 | PA      | $16519877.76   | 0.17%             | 2029-05-30      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| VMWARE LLC 1.4% 08/15/26       | VMWARE LLC REGD 1.40000000                                                                      | CUSIP: 928563AJ4<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |   2235000 | PA      | $2165300.52    | 0.02%             | 2026-08-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| AMS-OSRAM AG 12.25% 03/30/29   | AMS-OSRAM AG REGD 144A P/P 12.25000000                                                          | CUSIP: 03217CAB2<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |  16565000 | PA      | $17790734.30   | 0.18%             | 2029-03-30      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| CAALT 2024-3A  4.68% 08/16/27  | CREDIT ACCEPTANCE AUTO LOAN TRUST 2024-3 SER 2024-3A CL A REGD 144A P/P 4.68000000              | CUSIP: 22535LAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  17680000 | PA      | $17680399.57   | 0.18%             | 2034-09-15      | Fixed         | 4.68%                 | Yes           |                  2 | On Loan: No      |
| WOODS 2019-18A A V/R 05/20/32  | NORTHWOODS CAPITAL XVIII LTD SER 2019-18A CL AR V/R REGD 144A P/P 5.68360000                    | CUSIP: 66860MAN1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  24711461 | PA      | $24734235.51   | 0.26%             | 2032-05-20      | Variable      | 5.68%                 | Yes           |                  2 | On Loan: No      |
| STARBUCKS CORP 4.85% 02/08/27  | STARBUCKS CORP REGD 4.85000000                                                                  | CUSIP: 855244BG3<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |   2110000 | PA      | $2122847.56    | 0.02%             | 2027-02-08      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| PARLI 2021-2A A V/R 08/20/32   | PARLIAMENT CLO II LTD SER 2021-2A CL A V/R REGD 144A P/P 5.93360000                             | CUSIP: 701631AA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    411770 | PA      | $411841.93     | 0.00%             | 2032-08-20      | Variable      | 5.93%                 | Yes           |                  2 | On Loan: No      |
| BANCO SANTANDER S V/R 03/14/28 | BANCO SANTANDER SA REGD V/R SER * 5.55200000                                                    | CUSIP: 05964HBA2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |  17000000 | PA      | $17240317.61   | 0.18%             | 2028-03-14      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| MET LIFE GLOB F 4.85% 01/08/29 | MET LIFE GLOB FUNDING I REGD 144A P/P MTN 4.85000000                                            | CUSIP: 59217GFR5<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |   2090000 | PA      | $2125490.42    | 0.02%             | 2029-01-08      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| FLX 2021-1A A2 3.25% 11/25/26  | FLEXENTIAL ISSUER 2021-1 SER 2021-1A CL A2 REGD 144A P/P 3.25000000                             | CUSIP: 33938MAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  50300000 | PA      | $48571289.60   | 0.50%             | 2051-11-27      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| US TREAS NTS 4.875% 10/31/28   | UNITED STATES TREASURY NOTE 4.87500000                                                          | CUSIP: 91282CJF9<br>LEI: N/A                  | Long             | DBT              | UST               | US        |  27155000 | PA      | $27955860.42   | 0.29%             | 2028-10-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| KOMATSU FINANC 5.499% 10/06/27 | KOMATSU FINANCE AMERICA REGD 144A P/P 5.49900000                                                | CUSIP: 50048WAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2040000 | PA      | $2080020.66    | 0.02%             | 2027-10-06      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| NFMOT 2024-2A  4.42% 09/15/27  | NEXTGEAR FLOORPLAN MASTER OWNER TRUST SER 2024-2A CL A2 REGD 144A P/P 4.42000000                | CUSIP: 65341KCC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  27500000 | PA      | $27483266.25   | 0.29%             | 2029-09-15      | Fixed         | 4.42%                 | Yes           |                  2 | On Loan: No      |
| US BANK NA CINCIN V/R 05/15/28 | US BANK NA CINCINNATI REGD V/R 4.73000000                                                       | CUSIP: 90331HPS6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20635000 | PA      | $20723417.26   | 0.22%             | 2028-05-15      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FIN 4.45% 10/16/26 | CATERPILLAR FINL SERVICE REGD 4.45000000                                                        | CUSIP: 14913UAN0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9240000 | PA      | $9263497.87    | 0.10%             | 2026-10-16      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GRO V/R 04/23/28 | GOLDMAN SACHS GROUP INC REGD V/R 4.93700000                                                     | CUSIP: 38141GC77<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  16355000 | PA      | $16453462.33   | 0.17%             | 2028-04-23      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| T/L NRG ENERGY INC 0% 04/16/31 | T/L NRG ENERGY INC REGD        TERM LOAN 0.00000000                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   8000000 | PA      | $7996000.00    | 0.08%             | 2031-04-16      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| PFSFC 2025-D A 4.47% 05/15/28  | PFS FINANCING CORP SER 2025-D CL A REGD 144A P/P 4.47000000                                     | CUSIP: 69335PFY6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  23860000 | PA      | $23851858.97   | 0.25%             | 2030-05-15      | Fixed         | 4.47%                 | Yes           |                  2 | On Loan: No      |
| STATE STREET CORP V/R 02/20/29 | STATE STREET CORP REGD V/R 4.53000000                                                           | CUSIP: 857477CN1<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   2125000 | PA      | $2134049.61    | 0.02%             | 2029-02-20      | Variable      | 4.53%                 | No            |                  2 | On Loan: No      |
| LIFE 2022-BMR2 A V/R 05/15/24  | LIFE 2022-BMR MORTGAGE TRUST SER 2022-BMR2 CL A1 V/R REGD 144A P/P 5.63718000                   | CUSIP: 53218DAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  23600000 | PA      | $22965750.00   | 0.24%             | 2039-05-15      | Variable      | 5.64%                 | Yes           |                  2 | On Loan: No      |
| ELB 5A AR V/R 06/15/34         | BLACKROCK ELBERT CLO V LLC/KY SER 5A CL AR V/R REGD 144A P/P 6.16847000                         | CUSIP: 092913AC6<br>LEI: 54930088K41XQK16ML36 | Long             | ABS-CBDO         | CORP              | US        |  12406903 | PA      | $12423880.31   | 0.13%             | 2034-06-15      | Variable      | 6.17%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN TOWER  5.49% 03/15/28 | AMERICAN TOWER TRUST I REGD 144A P/P 5.49000000                                                 | CUSIP: 03027WAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9290000 | PA      | $9417718.92    | 0.10%             | 2028-03-15      | Fixed         | 5.49%                 | Yes           |                  2 | On Loan: No      |
| UMBS P#AL2472 6.5% 06/01/40    | FANNIE MAE POOL UMBS P#AL2472 6.50000000                                                        | CUSIP: 3138EJXA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    557925 | PA      | $590311.54     | 0.01%             | 2040-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUN V/R 03/06/28 | ATHENE GLOBAL FUNDING REGD V/R 144A P/P 5.29571800                                              | CUSIP: 04685A4M0<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |  22035000 | PA      | $22137903.45   | 0.23%             | 2028-03-06      | Variable      | 5.30%                 | Yes           |                  2 | On Loan: No      |
| NEW YORK LIFE GL 4.4% 04/25/28 | NEW YORK LIFE GLOBAL FDG REGD 144A P/P MTN 4.40000000                                           | CUSIP: 64953BBW7<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |  27190000 | PA      | $27292501.68   | 0.28%             | 2028-04-25      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| CCG 2023-2 A2 6.28% 03/14/27   | CCG RECEIVABLES TRUST SER 2023-2 CL A2 REGD 144A P/P 6.28000000                                 | CUSIP: 12511QAB5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4109239 | PA      | $4149211.87    | 0.04%             | 2032-04-14      | Fixed         | 6.28%                 | Yes           |                  2 | On Loan: No      |
| 7-ELEVEN INC 0.95% 02/10/26    | 7-ELEVEN INC REGD 144A P/P 0.95000000                                                           | CUSIP: 817826AC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2190000 | PA      | $2146452.11    | 0.02%             | 2026-02-10      | Fixed         | 0.95%                 | Yes           |                  2 | On Loan: No      |
| BLACK HILLS CORP 2.5% 06/15/30 | BLACK HILLS CORP REGD 2.50000000                                                                | CUSIP: 092113AT6<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |   1905000 | PA      | $1715803.88    | 0.02%             | 2030-06-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MFIT 2023-AA A 6.7% 09/21/26   | MARINER FINANCE ISSUANCE TRUST 2023-A SER 2023-AA CL A REGD 144A P/P 6.70000000                 | CUSIP: 56847FAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  14800000 | PA      | $14888486.24   | 0.15%             | 2035-10-22      | Fixed         | 6.70%                 | Yes           |                  2 | On Loan: No      |
| SUTTER HEALTH 1.321% 08/15/25  | SUTTER HEALTH REGD SER 20A 1.32100000                                                           | CUSIP: 86944BAF0<br>LEI: 549300MJCC12LU768G81 | Long             | DBT              | CORP              | US        |  60630000 | PA      | $60552961.70   | 0.63%             | 2025-08-15      | Fixed         | 1.32%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPER 5.926% 10/02/26 | CANADIAN IMPERIAL BANK REGD 5.92600000                                                          | CUSIP: 13607LWT6<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |  16915000 | PA      | $17194692.23   | 0.18%             | 2026-10-02      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS  1.25% 01/08/26 | GENERAL MOTORS FINL CO REGD 1.25000000                                                          | CUSIP: 37045XDD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  60645000 | PA      | $59750140.57   | 0.62%             | 2026-01-08      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| T/L MIDCONTINENT 0% 08/17/26   | T/L MIDCONTINENT               COMMUNICATIONS REGD 0.00000000                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  22236962 | PA      | $22218505.82   | 0.23%             | 2031-08-16      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| SPGN 2022-TFLM A V/R 02/25/27  | SPGN 2022-TFLM MORTGAGE TRUST SER 2022-TFLM CL A V/R REGD 144A P/P 5.89194000                   | CUSIP: 78473HAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  46350000 | PA      | $46234551.42   | 0.48%             | 2039-02-15      | Variable      | 5.89%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER HOLDING V/R 09/09/26 | SANTANDER HOLDINGS USA REGD V/R 5.80700000                                                      | CUSIP: 80282KBE5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13474000 | PA      | $13484614.55   | 0.14%             | 2026-09-09      | Variable      | 5.81%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CO 2.15% 07/15/26 | ARES CAPITAL CORP REGD 2.15000000                                                               | CUSIP: 04010LBA0<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |  11880000 | PA      | $11597259.33   | 0.12%             | 2026-07-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| T/L CHARTER COMMUN 0% 12/07/30 | T/L CHARTER COMMUNICATIONS     OPERATING LLC REGD 0.00000000                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  60975812 | PA      | $60853860.33   | 0.63%             | 2030-12-07      | Variable      | 6.29%                 | No            |                  2 | On Loan: No      |
| PRA HEALTH SCI 2.875% 07/15/26 | PRA HEALTH SCIENCES INC REGD 144A P/P 2.87500000                                                | CUSIP: 45569KAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  44811000 | PA      | $43818436.35   | 0.45%             | 2026-07-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| NORTHWESTERN MU 5.07% 03/25/27 | NORTHWESTERN MUTUAL GLBL REGD 144A P/P 5.07000000                                               | CUSIP: 66815L2R9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  38945000 | PA      | $39381817.64   | 0.41%             | 2027-03-25      | Fixed         | 5.07%                 | Yes           |                  2 | On Loan: No      |
| PFSFC 2025-A A V/R 01/15/27    | PFS FINANCING CORP SER 2025-A CL A V/R REGD 144A P/P 4.98962000                                 | CUSIP: 69335PFS9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  14090000 | PA      | $14083366.43   | 0.15%             | 2029-01-15      | Variable      | 4.99%                 | Yes           |                  2 | On Loan: No      |
| HA SUSTAINABLE  6.15% 01/15/31 | HA SUSTAINABLE INF CAP REGD 6.15000000                                                          | CUSIP: 40408AAA9<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |  41130000 | PA      | $41517384.55   | 0.43%             | 2031-01-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| PRICOA GLOBAL FU 4.4% 08/27/27 | PRICOA GLOBAL FUNDING 1 REGD 144A P/P 4.40000000                                                | CUSIP: 74153WCU1<br>LEI: 635400IBXEBMD9ADYA79 | Long             | DBT              | CORP              | US        |  12685000 | PA      | $12689328.88   | 0.13%             | 2027-08-27      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| SDART 2025-2 A 4.67% 08/16/27  | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2025-2 SER 2025-2 CL A3 REGD 4.67000000                  | CUSIP: 80287NAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  26350000 | PA      | $26421039.60   | 0.27%             | 2029-08-15      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES 4.75% 10/20/28 | DELTA AIR LINES/SKYMILES REGD 144A P/P 4.75000000                                               | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   7055000 | PA      | $7059334.24    | 0.07%             | 2028-10-20      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| ROYAL BANK OF CAN V/R 03/27/28 | ROYAL BANK OF CANADA REGD V/R MTN SER GMTN 4.71500000                                           | CUSIP: 78017DAF5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  64445000 | PA      | $64691565.28   | 0.67%             | 2028-03-27      | Variable      | 4.71%                 | No            |                  2 | On Loan: No      |
| MCIP 2022-1A A 4.05% 04/30/32  | MONROE CAPITAL INCOME PLUS ABS FUNDING LLC SER 2022-1A CL A REGD 144A P/P 4.05000000            | CUSIP: 61033MAB0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  32756536 | PA      | $31977228.24   | 0.33%             | 2032-04-30      | Fixed         | 4.05%                 | Yes           |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP 3.2% 09/26/26 | VOLKSWAGEN GROUP AMERICA REGD 144A P/P 3.20000000                                               | CUSIP: 928668BB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  46749000 | PA      | $45895360.46   | 0.48%             | 2026-09-26      | Fixed         | 3.20%                 | Yes           |                  2 | On Loan: No      |
| T/L MPH ACQUISIT 0% 12/31/30   | T/L MPH ACQUISITION HOLDINGS   LLC REGD 0.00000000                                              | CUSIP: 55328HAP6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3821630 | PA      | $3798700.20    | 0.04%             | 2030-12-31      | Variable      | 8.06%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOB  5.9% 09/19/28 | COREBRIDGE GLOB FUNDING REGD 144A P/P 5.90000000                                                | CUSIP: 00138CAV0<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |  26910000 | PA      | $27931797.46   | 0.29%             | 2028-09-19      | Fixed         | 5.90%                 | Yes           |                  2 | On Loan: No      |
| BLACKSTONE PRIV 3.25% 03/15/27 | BLACKSTONE PRIVATE CRE REGD SER WI 3.25000000                                                   | CUSIP: 09261HAK3<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2140829.97    | 0.02%             | 2027-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| WMRK 2022-WMRK A V/R 11/15/27  | WMRK COMMERCIAL MORTGAGE TRUST 2022-WMRK SER 2022-WMRK CL A V/R REGD 144A P/P 7.13094000        | CUSIP: 929342AA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  20000000 | PA      | $20050000.00   | 0.21%             | 2027-11-15      | Variable      | 7.13%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY V/R 10/16/26    | MORGAN STANLEY REGD V/R SER VAR 6.13800000                                                      | CUSIP: 61747YEX9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  42665000 | PA      | $42777159.03   | 0.44%             | 2026-10-16      | Variable      | 6.14%                 | No            |                  2 | On Loan: No      |
| US BANCORP V/R /PERP/          | US BANCORP REGD V/R /PERP/ 3.70000000                                                           | CUSIP: 902973BC9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |  42990000 | PA      | $41328518.18   | 0.43%             | 2174-01-15      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| ONEOK INC 5.55% 11/01/26       | ONEOK INC REGD 5.55000000                                                                       | CUSIP: 682680BH5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2122037.48    | 0.02%             | 2026-11-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| COMERICA INC V/R 01/30/30      | COMERICA INC REGD V/R 5.98200000                                                                | CUSIP: 200340AW7<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | DBT              | CORP              | US        |  25252000 | PA      | $25965520.26   | 0.27%             | 2030-01-30      | Variable      | 5.98%                 | No            |                  2 | On Loan: No      |
| COMM 2025-SBX A V/R 08/10/28   | COMM 2025-SBX MORTGAGE TRUST SER 2025-SBX CL A V/R REGD 144A P/P 0.00000000                     | CUSIP: 20047UAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  18875000 | PA      | $18875000.00   | 0.20%             | 2041-08-10      | Variable      | 5.43%                 | Yes           |                  2 | On Loan: No      |
| IQVIA INC 5.7% 05/15/28        | IQVIA INC REGD SER WI 5.70000000                                                                | CUSIP: 46266TAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2047000.00    | 0.02%             | 2028-05-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL  V/R 10/28/26 | TRUIST FINANCIAL CORP REGD V/R MTN 5.90000000                                                   | CUSIP: 89788MAJ1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |  14435000 | PA      | $14472866.90   | 0.15%             | 2026-10-28      | Variable      | 5.90%                 | No            |                  2 | On Loan: No      |
| MDPK 2021-49A AR V/R 10/19/34  | MADISON PARK FUNDING XLIX LTD SER 2021-49A CL AR V/R REGD 144A P/P 5.37549000                   | CUSIP: 55820VAL7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  50000000 | PA      | $49974035.00   | 0.52%             | 2034-10-19      | Variable      | 5.38%                 | Yes           |                  2 | On Loan: No      |
| FORD MOTOR CRE 5.125% 11/05/26 | FORD MOTOR CREDIT CO LLC REGD 5.12500000                                                        | CUSIP: 345397F81<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  24500000 | PA      | $24431378.44   | 0.25%             | 2026-11-05      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS  V/R 04/23/27 | AMERICAN EXPRESS CO REGD V/R 5.64500000                                                         | CUSIP: 025816DT3<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |  38724000 | PA      | $39007861.64   | 0.40%             | 2027-04-23      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| MET TOWER GLOBA 5.25% 04/12/29 | MET TOWER GLOBAL FUNDING REGD 144A P/P MTN 5.25000000                                           | CUSIP: 58989V2H6<br>LEI: 635400OFJCY9IOGBGY57 | Long             | DBT              | CORP              | US        |  23485000 | PA      | $24106635.50   | 0.25%             | 2029-04-12      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| ARIFL 2023-B A 6.05% 07/15/32  | ARI FLEET LEASE TRUST 2023-B SER 2023-B CL A2 REGD 144A P/P 6.05000000                          | CUSIP: 04033GAB3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4507165 | PA      | $4540220.38    | 0.05%             | 2032-07-15      | Fixed         | 6.05%                 | Yes           |                  2 | On Loan: No      |
| JOHNSON & JOHNSO 4.5% 03/01/27 | JOHNSON & JOHNSON REGD 4.50000000                                                               | CUSIP: 478160DG6<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |  38225000 | PA      | $38458112.10   | 0.40%             | 2027-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NESTLE HOLDINGS  4.3% 10/01/32 | NESTLE HOLDINGS INC REGD 144A P/P 4.30000000                                                    | CUSIP: 641062BD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1090000 | PA      | $1076217.66    | 0.01%             | 2032-10-01      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| COLUMBIA PIPEL 5.927% 08/15/30 | COLUMBIA PIPELINES OPCO REGD 144A P/P 5.92700000                                                | CUSIP: 19828TAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2045000 | PA      | $2152186.77    | 0.02%             | 2030-08-15      | Fixed         | 5.93%                 | Yes           |                  2 | On Loan: No      |
| BXMT 2021-FL4 A V/R 05/15/38   | BXMT 2021-FL4 LTD SER 2021-FL4 CL A V/R REGD 144A P/P 5.50761000                                | CUSIP: 05609GAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  10854327 | PA      | $10787553.11   | 0.11%             | 2038-05-15      | Variable      | 5.51%                 | Yes           |                  2 | On Loan: No      |
| KENTUCKY ST PUBLI V/R 08/01/52 | KENTUCKY ST PUBLIC ENERGY AUTH REGD V/R B/E 4.12120000                                          | CUSIP: 74440DDT8<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |  31000000 | PA      | $31020308.10   | 0.32%             | 2052-08-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| T/L LUMEN TECHNOL ZCP 04/15/29 | T/L LUMEN TECHNOLOGIES INC REGD ZCP TERM LOAN 0.00000000                                        | CUSIP: 55024EAF2<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |   9290615 | PA      | $9234034.82    | 0.10%             | 2029-04-15      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| UMBS P#906281 V/R 01/01/37     | FANNIE MAE POOL UMBS P#906281 V/R 6.63700000                                                    | CUSIP: 31411E2N6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     18505 | PA      | $18982.27      | 0.00%             | 2037-01-01      | Variable      | 6.64%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL  V/R 10/30/29 | TRUIST FINANCIAL CORP REGD V/R MTN 7.16100000                                                   | CUSIP: 89788MAQ5<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $2077913.47    | 0.02%             | 2029-10-30      | Variable      | 7.16%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS V/R 05/09/29       | BNP PARIBAS REGD V/R 144A P/P 4.79200000                                                        | CUSIP: 09659W3C6<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  23440000 | PA      | $23526821.99   | 0.24%             | 2029-05-09      | Variable      | 4.79%                 | Yes           |                  2 | On Loan: No      |
| PRINCIPAL LFE GL 5.5% 06/28/28 | PRINCIPAL LFE GLB FND II REGD 144A P/P MTN 5.50000000                                           | CUSIP: 74256LEW5<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |   1955000 | PA      | $2009274.40    | 0.02%             | 2028-06-28      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FS KKR CAPITAL C 3.4% 01/15/26 | FS KKR CAPITAL CORP REGD 3.40000000                                                             | CUSIP: 302635AG2<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |  15940000 | PA      | $15821138.45   | 0.16%             | 2026-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| ICON INVESTMEN 5.849% 05/08/29 | ICON INVESTMENTS SIX DAC REGD 5.84900000                                                        | CUSIP: 45115AAB0<br>LEI: 635400FQ1M7J2CHLAS59 | Long             | DBT              | CORP              | IE        |   2100000 | PA      | $2177756.53    | 0.02%             | 2029-05-08      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| T/L WHIRLPOOL COR 0% 09/23/25  | T/L WHIRLPOOL CORPORATION      REGD 0.00000000                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  15258000 | PA      | $15258000.00   | 0.16%             | 2025-09-23      | Variable      | 5.71%                 | No            |                  3 | On Loan: No      |
| BOSTON PROPERTI 2.75% 10/01/26 | BOSTON PROPERTIES LP REGD 2.75000000                                                            | CUSIP: 10112RAY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1878200.99    | 0.02%             | 2026-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIV 7.05% 09/29/25 | BLACKSTONE PRIVATE CRE REGD SER WI 7.05000000                                                   | CUSIP: 09261HBA4<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |  37994000 | PA      | $38115606.64   | 0.40%             | 2025-09-29      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| DRAWBRIDGE SPE 3.875% 02/15/26 | DRAWBRIDGE SPEC OPPOR FU REGD 144A P/P 3.87500000                                               | CUSIP: 26150TAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  48895000 | PA      | $48175064.15   | 0.50%             | 2026-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| FNMA P745925 V/R 09/01/36      | FNMA P745925 V/R 09/01/36 6.64400000                                                            | CUSIP: 31403DVS5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     23497 | PA      | $24007.91      | 0.00%             | 2036-09-01      | Variable      | 6.64%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL C 5.5% 01/12/29 | CNH INDUSTRIAL CAP LLC REGD 5.50000000                                                          | CUSIP: 12592BAR5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10920000 | PA      | $11233517.24   | 0.12%             | 2029-01-12      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BX 2024-GPA2 A V/R 11/15/26    | BX COMMERCIAL MORTGAGE TRUST 2024-GPA2 SER 2024-GPA2 CL A V/R REGD 144A P/P 5.88428000          | CUSIP: 12433DAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  21220000 | PA      | $21273050.00   | 0.22%             | 2041-11-15      | Variable      | 5.88%                 | Yes           |                  2 | On Loan: No      |
| VZMT 2025-3 A1 4.51% 03/22/27  | VERIZON MASTER TRUST SER 2025-3 CL A1A REGD 4.51000000                                          | CUSIP: 92348KDY6<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-CBDO         | CORP              | US        |  17610000 | PA      | $17622059.33   | 0.18%             | 2030-03-20      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| EQUITABLE AMERI 4.65% 06/09/28 | EQUITABLE AMERICA GLOBAL REGD 144A P/P 4.65000000                                               | CUSIP: 29446Q2A0<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |  41640000 | PA      | $41753883.32   | 0.43%             | 2028-06-09      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| T/L AADVANTAGE LO 0% 04/20/28  | T/L AADVANTAGE LOYALTY IP LTD. REGD 0.00000000                                                  | CUSIP: 02376CBS3<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |  23396612 | PA      | $23279628.81   | 0.24%             | 2028-04-20      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| OMFIT 2023-2A  5.84% 11/14/27  | ONEMAIN FINANCIAL ISSUANCE TRUST 2023-2 SER 2023-2A CL A1 REGD 144A P/P 5.84000000              | CUSIP: 68269HAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  16380000 | PA      | $16687326.47   | 0.17%             | 2036-09-15      | Fixed         | 5.84%                 | Yes           |                  2 | On Loan: No      |
| T/L JAZZ PHARM 0% 05/05/28     | T/L JAZZ PHARMACEUTICALS       PUBLIC LIMITED COMPANY         REGD /TERM LOAN 0.00000000        | CUSIP: G5080AAJ1<br>LEI: N/A                  | Long             | LON              | CORP              | IE        |  23021913 | PA      | $23097424.78   | 0.24%             | 2028-05-05      | Variable      | 6.61%                 | No            |                  2 | On Loan: No      |
| GNMA #080312 V/R 8/20/29       | GINNIE MAE II POOL P#80312 V/R 4.62500000                                                       | CUSIP: 36225CK21<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      2166 | PA      | $2169.65       | 0.00%             | 2029-08-20      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| DRVPNK 2025-1A 4.72% 11/10/26  | AUTONATION FINANCE TRUST 2025-1 SER 2025-1A CL A2 REGD 144A P/P 4.72000000                      | CUSIP: 05330QAB8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  12750000 | PA      | $12761515.80   | 0.13%             | 2028-04-10      | Fixed         | 4.72%                 | Yes           |                  2 | On Loan: No      |
| SKANDINAVISKA  5.375% 03/05/29 | SKANDINAVISKA ENSKILDA REGD 144A P/P 5.37500000                                                 | CUSIP: 830505BB8<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |  11875000 | PA      | $12204026.56   | 0.13%             | 2029-03-05      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CNH INDUSTRIAL C 5.1% 04/20/29 | CNH INDUSTRIAL CAP LLC REGD 5.10000000                                                          | CUSIP: 12592BAS3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  27185000 | PA      | $27629332.30   | 0.29%             | 2029-04-20      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| BANK OF NEW ZE 5.076% 01/30/29 | BANK OF NEW ZEALAND REGD 144A P/P 5.07600000                                                    | CUSIP: 06407EAH8<br>LEI: N/A                  | Long             | DBT              | CORP              | NZ        |   9500000 | PA      | $9692035.85    | 0.10%             | 2029-01-30      | Fixed         | 5.08%                 | Yes           |                  2 | On Loan: No      |
| CGMS 2016-1A A1R V/R 04/20/34  | CARLYLE GLOBAL MARKET STRATEGIES CLO  SER 2016-1A CL A1R3 V/R REGD 144A P/P 5.41549000          | CUSIP: 14312HBE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  30000000 | PA      | $30052749.00   | 0.31%             | 2034-04-20      | Variable      | 5.42%                 | Yes           |                  2 | On Loan: No      |
| CNH INDUSTRIAL 1.875% 01/15/26 | CNH INDUSTRIAL CAP LLC REGD 1.87500000                                                          | CUSIP: 12592BAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  56525000 | PA      | $55742518.77   | 0.58%             | 2026-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| PFSFC 2023-A A 5.8% 03/15/26   | PFS FINANCING CORP SER 2023-A CL A REGD 144A P/P 5.80000000                                     | CUSIP: 69335PET8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   9810000 | PA      | $9875872.19    | 0.10%             | 2028-03-15      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| AESOP 2023-3A  5.44% 02/22/27  | AVIS BUDGET RENTAL CAR FUNDING AESOP LLC SER 2023-3A CL A REGD 144A P/P 5.44000000              | CUSIP: 05377RGU2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  11930000 | PA      | $12039518.59   | 0.12%             | 2028-02-22      | Fixed         | 5.44%                 | Yes           |                  2 | On Loan: No      |
| GA GLOBAL FUNDI 2.25% 01/06/27 | GA GLOBAL FUNDING TRUST REGD 144A P/P 2.25000000                                                | CUSIP: 36143L2G9<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $1859522.59    | 0.02%             | 2027-01-06      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| AIR LEASE CORP 2.875% 01/15/26 | AIR LEASE CORP REGD MTN 2.87500000                                                              | CUSIP: 00914AAJ1<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |  94226000 | PA      | $93407001.74   | 0.97%             | 2026-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BAXTER INTERNA 1.915% 02/01/27 | BAXTER INTERNATIONAL INC REGD 1.91500000                                                        | CUSIP: 071813CL1<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |   2230000 | PA      | $2146367.69    | 0.02%             | 2027-02-01      | Fixed         | 1.92%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITA V/R 03/06/28 | JOHN DEERE CAPITAL CORP REGD V/R 4.84682900                                                     | CUSIP: 24422EYA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  44670000 | PA      | $44769152.66   | 0.46%             | 2028-03-06      | Variable      | 4.85%                 | No            |                  2 | On Loan: No      |
| ADC 2023-1A A2 6% 08/15/28     | ALIGNED DATA CENTERS ISSUER LLC SER 2023-1A CL A2 REGD 144A P/P 6.00000000                      | CUSIP: 01627AAD0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7555000 | PA      | $7594788.41    | 0.08%             | 2048-08-17      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| MCMML 2020-1A AR V/R 08/20/37  | MONROE CAPITAL MML CLO X LTD SER 2020-1A CL AR2 V/R REGD 144A P/P 5.98438000                    | CUSIP: 61034UAQ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  11780000 | PA      | $11833010.00   | 0.12%             | 2037-08-20      | Variable      | 5.98%                 | Yes           |                  2 | On Loan: No      |
| AXIS 2023-1A A 6.09% 12/20/29  | AMUR EQUIPMENT FINANCE RECEIVABLES XII LLC SER 2023-1A CL A2 REGD 144A P/P 6.09000000           | CUSIP: 03236YAB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3353501 | PA      | $3381660.01    | 0.04%             | 2029-12-20      | Fixed         | 6.09%                 | Yes           |                  2 | On Loan: No      |
| WFLF 2025-1A A 4.57% 11/18/28  | WHEELS FLEET LEASE FUNDING 1 LLC SER 2025-1A CL A1 REGD 144A P/P 4.57000000                     | CUSIP: 96328GCE5<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-CBDO         | CORP              | US        |  33980000 | PA      | $34035859.72   | 0.35%             | 2040-01-18      | Fixed         | 4.57%                 | Yes           |                  2 | On Loan: No      |
| CAUTO 2023-1A  5.75% 09/15/28  | CARS-DB7 LP SER 2023-1A CL A1 REGD 144A P/P 5.75000000                                          | CUSIP: 12510HAS9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   9716442 | PA      | $9761120.78    | 0.10%             | 2053-09-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ARES CAPITAL CORP 7% 01/15/27  | ARES CAPITAL CORP REGD 7.00000000                                                               | CUSIP: 04010LBE2<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |   2045000 | PA      | $2105124.27    | 0.02%             | 2027-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LFT 2025-1A A 4.94% 06/20/29   | LENDMARK FUNDING TRUST 2025-1 SER 2025-1A CL A REGD 144A P/P 4.94000000                         | CUSIP: 52604QAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  29890000 | PA      | $30015104.60   | 0.31%             | 2034-09-20      | Fixed         | 4.94%                 | Yes           |                  2 | On Loan: No      |
| FNH 2019-1 A V/R 12/10/31      | FNA 2019-1 LLC SER 2019-1 CL A V/R REGD 144A P/P 3.00000000                                     | CUSIP: 30312PAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5301511 | PA      | $5288256.73    | 0.05%             | 2031-12-10      | Variable      | 3.00%                 | Yes           |                  3 | On Loan: No      |
| ARBOR REALTY S 7.875% 07/15/30 | ARBOR REALTY SR INC REGD 144A P/P 7.87500000                                                    | CUSIP: 03881NAJ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7570000 | PA      | $7730446.38    | 0.08%             | 2030-07-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| CARMX 2025-2 A 4.59% 03/15/27  | CARMAX AUTO OWNER TRUST 2025-2 SER 2025-2 CL A2A REGD 4.59000000                                | CUSIP: 14320AAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  20690000 | PA      | $20732584.16   | 0.22%             | 2028-07-17      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL INSU 5.625% 11/30/26 | UNIVERSAL INSURANCE HLDS REGD SER WI 5.62500000                                                 | CUSIP: 91359VAC1<br>LEI: 529900GGAZ6WVUCWQM46 | Long             | DBT              | CORP              | US        |   4205000 | PA      | $4147468.75    | 0.04%             | 2026-11-30      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CCG 2024-1 A2 4.99% 12/14/27   | CCG RECEIVABLES TRUST 2024-1 SER 2024-1 CL A2 REGD 144A P/P 4.99000000                          | CUSIP: 12515PAB3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  19839915 | PA      | $19934639.12   | 0.21%             | 2032-03-15      | Fixed         | 4.99%                 | Yes           |                  2 | On Loan: No      |
| SEACO 2020-2A  2.26% 03/17/30  | GLOBAL SC FINANCE VII SRL SER 2020-2A CL A REGD 144A P/P 2.26000000                             | CUSIP: 37959PAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BB        |  13953626 | PA      | $13219050.14   | 0.14%             | 2040-11-19      | Fixed         | 2.26%                 | Yes           |                  2 | On Loan: No      |
| KEURIG DR PEPPER 5.1% 03/15/27 | KEURIG DR PEPPER IN REGD SER * 5.10000000                                                       | CUSIP: 49271VAW0<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |  21670000 | PA      | $21879317.03   | 0.23%             | 2027-03-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| ARTFI 2024-1A  6.43% 03/22/27  | SOTHEBY'S ARTFI MASTER TRUST SER 2024-1A CL A1 REGD 144A P/P 6.43000000                         | CUSIP: 83589CAA6<br>LEI: 9845002FA850DM72BA31 | Long             | ABS-CBDO         | CORP              | US        |  24210000 | PA      | $24361557.02   | 0.25%             | 2031-12-22      | Fixed         | 6.43%                 | Yes           |                  2 | On Loan: No      |
| BBUBS 2012-TFT B V/R 06/05/20  | BB-UBS TRUST SER 2012-TFT CL B V/R REGD 144A P/P 3.55929800                                     | CUSIP: 05490AAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  22409647 | PA      | $21513036.70   | 0.22%             | 2030-06-05      | Variable      | 3.56%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-29

**Name of Applicant:** BBH Trust

**Signature:** Charles Schreiber

**Name of Signer:** Charles Schreiber

**Title:** Treasurer