# EDGAR Filing Document

**Accession Number:** 0000819673
**File Stem:** 0002071691-26-006490
**Filing Date:** 2026-3
**Character Count:** 319587
**Document Hash:** 0a2c12faa3ebc3032661da92416998c8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-006490.hdr.sgml**: 20260325

**ACCESSION NUMBER**: 0002071691-26-006490

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260325

**DATE AS OF CHANGE**: 20260325

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS SERIES TRUST VIII
- **CENTRAL INDEX KEY:** 0000819673

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05262
- **FILM NUMBER:** 26789755

**BUSINESS ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02119
- **BUSINESS PHONE:** 18006372929

**MAIL ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02119

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS STRATEGIC INCOME FUND
- **DATE OF NAME CHANGE:** 19940910

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS INCOME & OPPORTUNITY FUND /
- **DATE OF NAME CHANGE:** 19931006

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS INCOME & OPPORTUNITY FUND
- **DATE OF NAME CHANGE:** 19930408

## Series and Classes Contracts Data

### MFS Income Fund (Series ID: S000002491)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006707 | A            | MFIOX           |
| C000006708 | B            | MIOBX           |
| C000006709 | C            | MIOCX           |
| C000006710 | I            | MFIIX           |
| C000200511 | R6           | MFIWX           |

## Nport-Ex

MFO-Q1

![](img79f59fb01.gif)

**Quarterly Report**

January 31, 2026

MFS<sup>®</sup> Income Fund

![](img941065a02.gif)

------

**Portfolio of Investments**

1/31/26 (unaudited)

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – 98.8%  | Bonds – 98.8%  | Bonds – 98.8%  |
| Aerospace & Defense – 1.4% | Aerospace & Defense – 1.4% | Aerospace & Defense – 1.4% |
| Boeing Co., 2.196%, 2/04/2026  | $2018000 | &nbsp;&nbsp;&nbsp; $2017654 |
| Boeing Co., 6.528%, 5/01/2034  | 10458000 | &nbsp;&nbsp;&nbsp; 11569115 |
| Boeing Co., 5.705%, 5/01/2040  | 24359000 | &nbsp;&nbsp;&nbsp; 24900783 |
| Boeing Co., 5.805%, 5/01/2050  | 9682000 | &nbsp;&nbsp;&nbsp; 9562496 |
| Boeing Co., 6.858%, 5/01/2054  | 5970000 | &nbsp;&nbsp;&nbsp; 6731717 |
| Bombardier, Inc., 7.5%, 2/01/2029 (n) | 20000000 | &nbsp;&nbsp;&nbsp; 20775378 |
| TransDigm, Inc., 4.625%, 1/15/2029  | 32500000 | &nbsp;&nbsp;&nbsp; 32303550 |
| TransDigm, Inc., 6.375%, 5/31/2033 (n) | 5000000 | &nbsp;&nbsp;&nbsp; 5090060 |
|  |  | &nbsp;&nbsp;&nbsp; $112950753 |
| Asset-Backed & Securitized – 26.6% | Asset-Backed & Securitized – 26.6% | Asset-Backed & Securitized – 26.6% |
| ACREC 2021-FL1 Ltd., "D", FLR, 6.442% ((SOFR - 1mo. + 0.11448%) + 2.65%), 10/16/2036 (n) | $2591000 | &nbsp;&nbsp;&nbsp; $2583077 |
| ACREC 2025-FL3 LLC, "B", FLR, 5.616% (SOFR - 1mo. + 1.941%), 8/18/2042 (n) | 5000000 | &nbsp;&nbsp;&nbsp; 4984975 |
| ACREC 2025-FL3 LLC, "C", FLR, 5.966% (SOFR - 1mo. + 2.291%), 8/18/2042 (n) | 9459627 | &nbsp;&nbsp;&nbsp; 9430908 |
| Acres PLC, 2026-FL4, "B", FLR, 5.7% (SOFR - 1mo. + 1.95%), 8/18/2044 (n)(w) | 18308500 | &nbsp;&nbsp;&nbsp; 18342810 |
| Affirm Asset Securitization Trust, 2024-X2, "A", 5.22%, 12/17/2029 (n) | 15286 | &nbsp;&nbsp;&nbsp; 15291 |
| Affirm Master Trust, 2025-2A, "A", 4.67%, 7/15/2033 (n) | 14094595 | &nbsp;&nbsp;&nbsp; 14194505 |
| Affirm, Inc., 2025-X1, "A", 5.08%, 4/15/2030 (n) | 1576512 | &nbsp;&nbsp;&nbsp; 1579073 |
| AGL CLO 1 Ltd., 2019-1A, "BRR", FLR, 5.318% (SOFR - 3mo. + 1.65%), 10/20/2034 (n) | 15250000 | &nbsp;&nbsp;&nbsp; 15251159 |
| American Credit Acceptance Receivables Trust, 2024-2, "C", 6.24%, 4/12/2030 (n) | 8709917 | &nbsp;&nbsp;&nbsp; 8772703 |
| Angel Oak Mortgage Trust, 2024-10, "A1", 5.348%, 10/25/2069 (n) | 14887394 | &nbsp;&nbsp;&nbsp; 14991330 |
| Angel Oak Mortgage Trust, 2024-12, "A1", 5.653%, 10/25/2069 (n) | 13534031 | &nbsp;&nbsp;&nbsp; 13678869 |
| Angel Oak Mortgage Trust, 2024-9, "A1", 5.138%, 9/25/2069 (n) | 7749590 | &nbsp;&nbsp;&nbsp; 7782439 |
| Angel Oak Mortgage Trust, 2025-10, "A1", 4.96%, 9/25/2070 (n) | 12785656 | &nbsp;&nbsp;&nbsp; 12829260 |
| Arbor Realty Trust, Inc., CLO, 2021-FL4, "A", FLR, 5.145% ((SOFR - 1mo. + 0.11448%) + 1.35%), 11/15/2036 (n) | 21324466 | &nbsp;&nbsp;&nbsp; 21323613 |
| Arbor Realty Trust, Inc., CLO, 2021-FL4, "AS", FLR, 5.494% ((SOFR - 1mo. + 0.11448%) + 1.7%), 11/15/2036 (n) | 6312000 | &nbsp;&nbsp;&nbsp; 6312027 |
| Arbor Realty Trust, Inc., CLO, 2021-FL4, "C", FLR, 6.094% ((SOFR - 1mo. + 0.11448%) + 2.3%), 11/15/2036 (n) | 1124000 | &nbsp;&nbsp;&nbsp; 1124102 |
| Arbor Realty Trust, Inc., CLO, 2021-FL4, "D", FLR, 6.695% ((SOFR - 1mo. + 0.11448%) + 2.9%), 11/15/2036 (n) | 15061500 | &nbsp;&nbsp;&nbsp; 15089266 |
| Arbor Realty Trust, Inc., CLO, 2022-FL1, "A", FLR, 5.157% (SOFR - 1mo. + 1.45%), 1/15/2037 (n) | 1914626 | &nbsp;&nbsp;&nbsp; 1915099 |
| Arbor Realty Trust, Inc., CLO, 2022-FL1, "B", FLR, 5.807% (SOFR - 30 day + 2.1%), 1/15/2037 (n) | 5083500 | &nbsp;&nbsp;&nbsp; 5095390 |
| Arbor Realty Trust, Inc., CLO, 2022-FL1, "C", FLR, 6.007% (SOFR - 30 day + 2.3%), 1/15/2037 (n) | 13183500 | &nbsp;&nbsp;&nbsp; 13199986 |
| Arbor Realty Trust, Inc., CLO, 2022-FL1, "D", FLR, 6.707% (SOFR - 30 day + 3%), 1/15/2037 (n) | 5800000 | &nbsp;&nbsp;&nbsp; 5770479 |
| Arbor Realty Trust, Inc., CLO, 2022-FL1, "E", FLR, 7.457% (SOFR - 30 day + 3.75%), 1/15/2037 (n) | 4500000 | &nbsp;&nbsp;&nbsp; 4499980 |
| ARDN Mortgage Trust, 2025-ARCP, "C", FLR, 6.03% (SOFR - 1mo. + 2.35%), 6/15/2035 (n) | 11250000 | &nbsp;&nbsp;&nbsp; 11285156 |
| AREIT 2022-CRE6 Trust, "B", FLR, 5.552% (SOFR - 30 day + 1.85%), 1/20/2037 (n) | 2957000 | &nbsp;&nbsp;&nbsp; 2942529 |
| AREIT 2022-CRE6 Trust, "E", FLR, 7.102% (SOFR - 30 day + 3.4%), 1/20/2037 (n) | 4500000 | &nbsp;&nbsp;&nbsp; 4354260 |
| AREIT 2022-CRE7 LLC, "B", FLR, 6.919% (SOFR - 1mo. + 3.244%), 6/17/2039 (n) | 6000000 | &nbsp;&nbsp;&nbsp; 6001884 |
| AREIT 2025-CRE10 Ltd., "B", FLR, 5.517% (SOFR - 1mo. + 1.8419%), 1/17/2030 (n) | 17650000 | &nbsp;&nbsp;&nbsp; 17629076 |
| ARI Fleet Lease Trust, 2023-B, "A2", 6.05%, 7/15/2032 (n) | 425195 | &nbsp;&nbsp;&nbsp; 428249 |
| ARI Fleet Lease Trust, 2026-A, "A2", 3.96%, 11/15/2034 (n) | 5359000 | &nbsp;&nbsp;&nbsp; 5363118 |
| Bain Capital Credit CLO Ltd., 2020-3A, "CRR", FLR, 5.571% (SOFR - 3mo. + 1.9%), 10/23/2034 (n) | 10440000 | &nbsp;&nbsp;&nbsp; 10441482 |
| Bain Capital Credit CLO Ltd., 2020-3A, "DRR", FLR , 6.771% (SOFR - 3mo. + 3.1%), 10/23/2034 (n) | 2300000 | &nbsp;&nbsp;&nbsp; 2292714 |
| Bain Capital Credit CLO Ltd., 2020-4A, "BRR", FLR, 5.268% (SOFR - 3mo. + 1.6%), 10/20/2036 (n) | 27700112 | &nbsp;&nbsp;&nbsp; 27735956 |
| Bain Capital Credit CLO Ltd., 2021-4A, "CR", FLR, 5.617% (SOFR - 3mo. + 1.95%), 10/20/2034 (n) | 29386111 | &nbsp;&nbsp;&nbsp; 29401979 |
| Bain Capital Credit CLO Ltd., 2022-2A, "CR", FLR, 5.569% (SOFR - 3mo. + 1.9%), 4/22/2035 (n) | 8250000 | &nbsp;&nbsp;&nbsp; 8255899 |
| Ballyrock CLO 2023-25A Ltd., "A2", FLR, 5.168% (SOFR - 3mo. + 1.5%), 1/25/2038 (n) | 10000000 | &nbsp;&nbsp;&nbsp; 10040150 |
| Bank5, 2025-5YR17, "AS", 5.626%, 11/15/2058  | 13546012 | &nbsp;&nbsp;&nbsp; 13980353 |
| Bayview Financial Revolving Mortgage Loan Trust, FLR, 5.389% ((SOFR - 1mo. + 0.11448%) + <br> 1.6%), 12/28/2040 (n)<br>| 29324 | &nbsp;&nbsp;&nbsp; 68755 |
| BBCMS Mortgage Trust, 2019-C5, "A4", 3.063%, 11/15/2052  | 500000 | &nbsp;&nbsp;&nbsp; 478114 |
| BBCMS Mortgage Trust, 2022-C18, "AS", 6.168%, 12/15/2055  | 3226076 | &nbsp;&nbsp;&nbsp; 3446011 |
| BBCMS Mortgage Trust, 2025-C39, "A5", 5.297%, 12/15/2058  | 7368421 | &nbsp;&nbsp;&nbsp; 7598101 |
| BDS 2024-FL13 Ltd., "A", FLR, 5.251% (SOFR - 1mo. + 1.5762%), 9/19/2039 (n) | 12437500 | &nbsp;&nbsp;&nbsp; 12467524 |
| BDS 2024-FL13 Ltd., "AS", FLR, 5.664% (SOFR - 1mo. + 1.99%), 9/19/2039 (n) | 5354000 | &nbsp;&nbsp;&nbsp; 5368691 |
| BDS 2025-FL 14 Ltd., "C", FLR, 5.566% (SOFR - 1mo. + 1.8926%), 10/17/2042 (n) | 20000000 | &nbsp;&nbsp;&nbsp; 19903349 |
| BDS 2025-FL16 Ltd., "B", FLR, 5.525% (SOFR - 1mo. + 1.85%), 7/19/2043 (n) | 26066885 | &nbsp;&nbsp;&nbsp; 26132042 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Asset-Backed & Securitized – continued | Asset-Backed & Securitized – continued | Asset-Backed & Securitized – continued |
| Benchmark 2019-B10 Mortgage Trust, "AM", 3.979%, 3/15/2062  | $1000000 | &nbsp;&nbsp;&nbsp; $966519 |
| Benchmark 2019-B13 Mortgage Trust, "A4", 2.952%, 8/15/2057  | 5000000 | &nbsp;&nbsp;&nbsp; 4756956 |
| Benchmark 2023-V3 Mortgage Trust, "AS", 7.097%, 7/15/2056  | 10000000 | &nbsp;&nbsp;&nbsp; 10551199 |
| Benchmark 2024-V5 Mortgage Trust, "AM", 6.417%, 1/10/2057  | 2500000 | &nbsp;&nbsp;&nbsp; 2599812 |
| Benchmark 2025-V18 Mortgage Trust, "AS", 5.593%, 10/15/2058  | 9866814 | &nbsp;&nbsp;&nbsp; 10212654 |
| Black Diamond CLO Ltd., 2019-2A, "BR", FLR, 6.421% (SOFR - 3mo. + 2.75%), 7/23/2032 (n) | 31000000 | &nbsp;&nbsp;&nbsp; 31018507 |
| Black Diamond CLO Ltd., 2021-1A, "BR", FLR, 5.869% (SOFR - 3mo. + 2.2%), 11/22/2034 (n) | 19000000 | &nbsp;&nbsp;&nbsp; 19012236 |
| BMP Commercial Mortgage Trust, 2024-MF23, "C", FLR, 5.521% (SOFR - 1mo. + 1.8413%), 6/15/2041 (n) | 19501672 | &nbsp;&nbsp;&nbsp; 19538238 |
| BMP Commercial Mortgage Trust, 2024-MF23, "D", FLR, 6.071% (SOFR - 1mo. + 2.3905%), 6/15/2041 (n) | 10492715 | &nbsp;&nbsp;&nbsp; 10525505 |
| BRSP 2026-FL3 Ltd., "C", FLR, 5.8% (SOFR - 1mo. + 2.1%), 8/19/2043 (n) | 14516000 | &nbsp;&nbsp;&nbsp; 14516000 |
| BSPRT 2022-FL8 Issuer Ltd., "D", FLR, 6.507% (SOFR - 30 day + 2.8%), 2/15/2037 (n) | 4000000 | &nbsp;&nbsp;&nbsp; 3973843 |
| BSPRT 2024-FL11 Issuer Ltd., "AS", FLR, 5.775% (SOFR - 1mo. + 2.095%), 7/15/2039 (n) | 14047000 | &nbsp;&nbsp;&nbsp; 14108464 |
| Business Jet Securities LLC, 2024-1A, "C", 9.132%, 5/15/2039 (n) | 2052133 | &nbsp;&nbsp;&nbsp; 2122130 |
| Business Jet Securities LLC, 2024-2A, "A", 5.364%, 9/15/2039 (n) | 12286198 | &nbsp;&nbsp;&nbsp; 12363501 |
| BX Trust, 2025-BCAT, "A", FLR, 5.06% (SOFR - 1mo. + 1.38%), 8/15/2042 (n) | 12266046 | &nbsp;&nbsp;&nbsp; 12281378 |
| BX Trust, 2025-BCAT, "C", FLR, 5.58% (SOFR - 1mo. + 1.9%), 8/15/2042 (n) | 7263799 | &nbsp;&nbsp;&nbsp; 7277412 |
| BX Trust, 2025-BCAT, "D", FLR, 6.33% (SOFR - 1mo. + 2.65%), 8/15/2042 (n) | 8106131 | &nbsp;&nbsp;&nbsp; 8133982 |
| BXMT 2021-FL4 Ltd., "B", FLR, 5.342% ((SOFR - 1mo. + 0.11448%) + 1.55%), 5/15/2038 (n) | 2123000 | &nbsp;&nbsp;&nbsp; 2091807 |
| Cathedral Lake VI Ltd., FLR, 5.518% (SOFR - 3mo. + 1.85%), 4/25/2034 (n) | 6214659 | &nbsp;&nbsp;&nbsp; 6214609 |
| Colt Funding LLC, 2025-1, "A1", 5.699%, 1/25/2070 (n) | 5933854 | &nbsp;&nbsp;&nbsp; 6001187 |
| Colt Funding LLC, 2024-1, "A1", 5.835%, 2/25/2069 (n) | 8265493 | &nbsp;&nbsp;&nbsp; 8319599 |
| Colt Funding LLC, 2024-2, "A1", 6.125%, 4/25/2069 (n) | 5038995 | &nbsp;&nbsp;&nbsp; 5094744 |
| Colt Funding LLC, 2024-5, "A1", 5.123%, 8/25/2069 (n) | 12173773 | &nbsp;&nbsp;&nbsp; 12223950 |
| Commercial Mortgage Pass-Through Certificates, 2019-BN16, "AS", 4.267%, 2/15/2052  | 2230000 | &nbsp;&nbsp;&nbsp; 2187466 |
| Commercial Mortgage Pass-Through Certificates, 2019-BN23, "A3", 2.92%, 12/15/2052  | 5777000 | &nbsp;&nbsp;&nbsp; 5486339 |
| Commercial Mortgage Pass-Through Certificates, 2019-BNK17, "AS", 3.976%, 4/15/2052  | 5000000 | &nbsp;&nbsp;&nbsp; 4842486 |
| Commercial Mortgage Pass-Through Certificates, 2023-BNK46, "B", 6.774%, 8/15/2056  | 6906487 | &nbsp;&nbsp;&nbsp; 7261360 |
| Commercial Mortgage Pass-Through Certificates, 2024-CBM, "B", 6.511%, 12/10/2041 (n) | 30112500 | &nbsp;&nbsp;&nbsp; 30781910 |
| Consumers 2023 Securitization Funding LLC, 5.55%, 3/01/2028  | 3984878 | &nbsp;&nbsp;&nbsp; 4021218 |
| Crest Ltd., CDO, 7% (0.001% Cash or 7% PIK), 1/28/2040 (a)(d)(p) | 917264 | &nbsp;&nbsp;&nbsp; 9 |
| Dryden Senior Loan Fund CLO Ltd., 2022-113A, "BR3", FLR, 5.122% (SOFR - 3mo. + 1.45%), 10/15/2037 (n) | 7250000 | &nbsp;&nbsp;&nbsp; 7260686 |
| Dryden Senior Loan Fund, 2016-43A, "CR3", FLR, 5.418% (SOFR - 3mo. + 1.75%), 4/20/2034 (n) | 15600000 | &nbsp;&nbsp;&nbsp; 15520908 |
| Dryden Senior Loan Fund, 2017-49A, "CR", CLO, FLR, 5.979% ((SOFR - 3mo. + 0.26161%) + 2.05%), 7/18/2030 (n) | 2000000 | &nbsp;&nbsp;&nbsp; 2007076 |
| Dryden Senior Loan Fund, 2020-86A, "CR2", FLR, 5.568% (SOFR - 3mo. + 1.9%), 7/17/2034 (n) | 3600000 | &nbsp;&nbsp;&nbsp; 3603564 |
| Dryden Senior Loan Fund, 2022-104A, "BR", FLR, 5.639% (SOFR - 3mo. + 1.75%), 8/20/2034 (n) | 25050000 | &nbsp;&nbsp;&nbsp; 25072545 |
| Dwight 2025-FL1 Issuer LLC, "A", FLR, 5.337% (SOFR - 1mo. + 1.662%), 6/18/2042 (n) | 2138000 | &nbsp;&nbsp;&nbsp; 2146635 |
| Dwight 2025-FL1 Issuer LLC, FLR, 5.961% (SOFR - 1mo. + 2.286%), 6/18/2042 (n) | 20811500 | &nbsp;&nbsp;&nbsp; 20883050 |
| ELM Trust, 2024-ELM, "C15", 6.396%, 6/10/2039 (n) | 900000 | &nbsp;&nbsp;&nbsp; 905265 |
| ELM Trust, 2024-ELM, "D10", 6.847%, 6/10/2039 (n) | 4065000 | &nbsp;&nbsp;&nbsp; 4075721 |
| ELM Trust, 2024-ELM, "D15", 6.897%, 6/10/2039 (n) | 1500000 | &nbsp;&nbsp;&nbsp; 1503734 |
| Empire District Bondco LLC, 4.943%, 1/01/2033  | 6944977 | &nbsp;&nbsp;&nbsp; 7047586 |
| Enterprise Fleet Financing 2023-3 LLC, "A2", 6.4%, 3/20/2030 (n) | 2912279 | &nbsp;&nbsp;&nbsp; 2948065 |
| EQT Trust, 2024-EXTR, "B", 5.654%, 7/05/2041 (n) | 4855458 | &nbsp;&nbsp;&nbsp; 4946421 |
| EQT Trust, 2024-EXTR, "C", 6.046%, 7/05/2041 (n) | 909091 | &nbsp;&nbsp;&nbsp; 927410 |
| Exeter Automobile Receivables Trust, 2025-1A, "A", 4.7%, 9/15/2027  | 30595 | &nbsp;&nbsp;&nbsp; 30602 |
| GLS Auto Select Receivables Trust, 2025-2A, "A2", 6.37%, 6/15/2028 (n) | 871773 | &nbsp;&nbsp;&nbsp; 874993 |
| GoldenTree Loan Management CLO Ltd., 2023-17A, "CR", FLR, 5.468% (SOFR - 3mo. + 1.8%), 1/20/2039 (n) | 1650000 | &nbsp;&nbsp;&nbsp; 1652302 |
| GreatAmerica Leasing Receivables Funding LLC, 2024-1, "A3", 4.98%, 1/18/2028 (n) | 4250000 | &nbsp;&nbsp;&nbsp; 4282848 |
| Greystone Commercial Real Estate Notes, 2025-FL4, "B", FLR, 6.268% (SOFR - 1mo. + 2.5887%), 1/15/2043 (n) | 3640500 | &nbsp;&nbsp;&nbsp; 3647792 |
| GS Mortgage Securities Trust, 2019-GC40, "AS", 3.412%, 7/10/2052  | 2200000 | &nbsp;&nbsp;&nbsp; 2039952 |
| Harbor Park CLO Ltd., 2018-1A, "DR2", FLR, 6.168% (SOFR - 3mo. + 2.5%), 1/20/2031 (n) | 22888021 | &nbsp;&nbsp;&nbsp; 22903470 |
| Hartwick Park CLO Ltd., 2023-1A, "BR", FLR, 5.218% (SOFR - 3mo. + 1.55%), 1/20/2037 (n) | 4347826 | &nbsp;&nbsp;&nbsp; 4351813 |
| Hartwick Park CLO Ltd., 2023-1A, "CR3", FLR, 5.368% (SOFR - 3mo. + 1.7%), 1/20/2037 (n) | 13000000 | &nbsp;&nbsp;&nbsp; 13008268 |
| ILPT Commercial Mortgage Trust, 2025-LPF2, "A", 5.292%, 7/13/2042 (n) | 16361000 | &nbsp;&nbsp;&nbsp; 16730585 |
| ILPT Commercial Mortgage Trust, 2025-LPF2, "C", 5.829%, 7/13/2042 (n) | 8000000 | &nbsp;&nbsp;&nbsp; 8147314 |
| Invesco CLO 2022-2A Ltd., "BR", 5.347%, 7/20/2035 (n) | 18489484 | &nbsp;&nbsp;&nbsp; 18492054 |
| Jersey Mikes Funding LLC, 2026-1A, "A2I", 4.952%, 2/15/2056 (n)(w) | 11161000 | &nbsp;&nbsp;&nbsp; 11161000 |
| KKR Static CLO I Ltd., 2022-1A, "CR2", FLR, 5.268% (SOFR - 3mo. + 1.6%), 7/20/2031 (n) | 17500000 | &nbsp;&nbsp;&nbsp; 17355135 |
| KREF 2021-FL2 Ltd., "D", FLR, 5.992% ((SOFR - 1mo. + 0.11448%) + 2.2%), 2/15/2039 (n) | 1837000 | &nbsp;&nbsp;&nbsp; 1804865 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Asset-Backed & Securitized – continued | Asset-Backed & Securitized – continued | Asset-Backed & Securitized – continued |
| LoanCore 2021-CRE5 Ltd., "C", FLR, 6.145% ((SOFR - 1mo. + 0.11448%) + 2.35%), 7/15/2036 (n) | $3000000 | &nbsp;&nbsp;&nbsp; $2993604 |
| LoanCore 2025-CRE8 Ltd., "B", FLR, 5.517% (SOFR - 1mo. + 1.8412%), 8/17/2042 (n) | 26501500 | &nbsp;&nbsp;&nbsp; 26501466 |
| LRECS 2025-CRE1 LLC, "B", FLR, 5.675% (SOFR - 1mo. + 2%), 8/19/2043 (n) | 23587830 | &nbsp;&nbsp;&nbsp; 23605068 |
| Man GLG US CLO, 2018-2 Ltd., "B", FLR, 6.668% (SOFR - 3mo. + 3%), 7/20/2035 (n) | 15000000 | &nbsp;&nbsp;&nbsp; 15047070 |
| Marble Point CLO, 2021-2A, "CR", FLR, 5.718% (SOFR - 3mo. + 2.05%), 7/25/2034 (n) | 11846154 | &nbsp;&nbsp;&nbsp; 11871635 |
| MF1 2022-FL10 Ltd., "B", FLR, 7.408% (SOFR - 1mo. + 3.735%), 9/17/2037 (n) | 7500000 | &nbsp;&nbsp;&nbsp; 7503916 |
| MF1 2022-FL8 Ltd., "A", FLR, 5.023% (SOFR - 1mo. + 1.35%), 2/19/2037 (n) | 4358514 | &nbsp;&nbsp;&nbsp; 4355856 |
| MF1 2022-FL8 Ltd., "D", FLR, 6.323% (SOFR - 30 day + 2.65%), 2/19/2037 (n) | 5000000 | &nbsp;&nbsp;&nbsp; 4996666 |
| MF1 2022-FL8 Ltd., "E", FLR, 6.823% (SOFR - 30 day + 3.15%), 2/19/2037 (n) | 4500000 | &nbsp;&nbsp;&nbsp; 4466707 |
| MF1 2022-FL9 LLC, "B", FLR, 6.823% (SOFR - 1mo. + 3.15%), 6/19/2037 (n) | 7000000 | &nbsp;&nbsp;&nbsp; 7002541 |
| MF1 2024-FL14 LLC, "B", FLR, 6.364% (SOFR - 1mo. + 2.689%), 3/19/2039 (n) | 8208757 | &nbsp;&nbsp;&nbsp; 8224428 |
| MF1 2024-FL14 LLC, "C", FLR, 6.964% (SOFR - 1mo. + 3.289%), 3/19/2039 (n) | 13925765 | &nbsp;&nbsp;&nbsp; 13953115 |
| MF1 2024-FL14 LLC, "D", FLR, 8.513% (SOFR - 1mo. + 4.838%), 3/19/2039 (n) | 6500000 | &nbsp;&nbsp;&nbsp; 6512506 |
| MF1 2024-FL15 LLC, "B", FLR, 6.166% (SOFR - 1mo. + 2.491%), 8/18/2041 (n) | 11108000 | &nbsp;&nbsp;&nbsp; 11115409 |
| MF1 2024-FL15 LLC, "C", FLR, 6.615% (SOFR - 1mo. + 2.94%), 8/18/2041 (n) | 13400000 | &nbsp;&nbsp;&nbsp; 13409219 |
| MF1 2024-FL16 LLC, "B", FLR, 5.817% (SOFR - 1mo. + 2.142%), 11/18/2039 (n) | 14900000 | &nbsp;&nbsp;&nbsp; 14974507 |
| MF1 2024-FL16 LLC, "C", FLR, 6.217% (SOFR - 1mo. + 2.542%), 11/18/2039 (n) | 17880000 | &nbsp;&nbsp;&nbsp; 17969429 |
| MF1 2025-FL17 LLC, "B", FLR, 5.467% (SOFR - 1mo. + 1.792%), 2/18/2040 (n) | 15924499 | &nbsp;&nbsp;&nbsp; 15933242 |
| MF1 2025-FL17 LLC, "C", FLR, 5.767% (SOFR - 1mo. + 2.092%), 2/18/2040 (n) | 23122222 | &nbsp;&nbsp;&nbsp; 23134824 |
| MF1 2025-FL19 LLC, "AS", FLR, 6.017% (SOFR - 1mo. + 2.3414%), 5/18/2042 (n) | 34783347 | &nbsp;&nbsp;&nbsp; 34892121 |
| MF1 2025-FL19 LLC, "B", FLR, 5.667% (SOFR - 1mo. + 1.9917%), 5/18/2042 (n) | 39130655 | &nbsp;&nbsp;&nbsp; 39252934 |
| MF1 2025-FL20 LLC, "AS", FLR, 5.375% (SOFR - 1mo. + 1.7%), 2/18/2043 (n) | 15009000 | &nbsp;&nbsp;&nbsp; 15046560 |
| MF1 2025-FL20 LLC, "B", FLR, 5.625% (SOFR - 1mo. + 1.95%), 2/18/2043 (n) | 5000000 | &nbsp;&nbsp;&nbsp; 5012510 |
| MF1 2026-FL21 LLC, "AS", FLR, 5.214% (SOFR - 1mo. + 1.55%), 2/18/2041 (n)(w) | 16865153 | &nbsp;&nbsp;&nbsp; 16880939 |
| MF1 2026-FL21 LLC, "C", FLR, 5.614% (SOFR - 1mo. + 1.95%), 2/18/2041 (n)(w) | 14176123 | &nbsp;&nbsp;&nbsp; 14177073 |
| MF1 Multi-Family Housing Mortgage Loan Trust, 2025-FL20, "C", FLR, 5.825% (SOFR - 1mo. + <br> 2.15%), 2/18/2043 (n)<br>| 31215564 | &nbsp;&nbsp;&nbsp; 31293619 |
| Morgan Stanley Residential Mortgage Loan Trust, 2026-NQM1, "A1", 4.809%, 12/25/2070 (n) | 3683691 | &nbsp;&nbsp;&nbsp; 3684095 |
| Morgan Stanley Residential Mortgage Loan Trust, 2024-NQM1, "A1", 6.152%, 12/25/2068 (n) | 8887604 | &nbsp;&nbsp;&nbsp; 8975830 |
| Morgan Stanley Residential Mortgage Loan Trust, 2025-NQM5, "A-1", 5.439%, 7/25/2070 (n) | 6521051 | &nbsp;&nbsp;&nbsp; 6593611 |
| Morgan Stanley Residential Mortgage Loan Trust, 2025-NQM6, "A1", 5.152%, 7/25/2070 (n) | 18341754 | &nbsp;&nbsp;&nbsp; 18465775 |
| Morgan Stanley Residential Mortgage Loan Trust, 2025-NQM9, "A1", 5.016%, 9/25/2070 (n) | 18370274 | &nbsp;&nbsp;&nbsp; 18462649 |
| MSWF Commercial Mortgage Trust, 2023-2, "A5", 6.014%, 12/15/2056  | 7198942 | &nbsp;&nbsp;&nbsp; 7760436 |
| MSWF Commercial Mortgage Trust, 2023-2, "AS", 6.491%, 12/15/2056  | 4949272 | &nbsp;&nbsp;&nbsp; 5380506 |
| Neuberger Berman CLO Ltd., 2019-35A, "CRR", FLR, 5.318% (SOFR - 3mo. + 1.65%), 1/19/2033 (n) | 23750000 | &nbsp;&nbsp;&nbsp; 23664951 |
| Neuberger Berman CLO Ltd., 2023-53A, "CR", FLR, 5.518% (SOFR - 3mo. + 1.85%), 10/24/2037 (n) | 14500000 | &nbsp;&nbsp;&nbsp; 14570238 |
| New Residential Mortgage Loan Trust, 2024-NQMI, "A-1", 6.129%, 3/25/2064 (n) | 16771758 | &nbsp;&nbsp;&nbsp; 16953007 |
| New Residential Mortgage Loan Trust, 2025-NQM2, "A1", 5.566%, 4/25/2065 (n) | 9809676 | &nbsp;&nbsp;&nbsp; 9946590 |
| Northwoods Capital Ltd., 2018-14BA, "BR", FLR, 5.691% (SOFR - 3mo. + 1.85%), 11/13/2031 (n) | 31844327 | &nbsp;&nbsp;&nbsp; 31863274 |
| OBX Trust, 2024-NQM10, "A2", 6.332%, 5/25/2064 (n) | 3601814 | &nbsp;&nbsp;&nbsp; 3644424 |
| OBX Trust, 2024-NQM14, "A1", 4.944%, 9/25/2064 (n) | 6669814 | &nbsp;&nbsp;&nbsp; 6691341 |
| OBX Trust, 2024-NQM2, "A1", 5.878%, 12/25/2063 (n) | 8920059 | &nbsp;&nbsp;&nbsp; 8990546 |
| OBX Trust, 2024-NQM3, "A1", 6.129%, 12/25/2063 (n) | 4286432 | &nbsp;&nbsp;&nbsp; 4334074 |
| OBX Trust, 2025-NQM1, "A1", 5.547%, 12/25/2064 (n) | 7960413 | &nbsp;&nbsp;&nbsp; 8047894 |
| OBX Trust, 2025-NQM13, "A1", 5.441%, 5/25/2065 (n) | 7874983 | &nbsp;&nbsp;&nbsp; 7967778 |
| OBX Trust, 2025-NQM14, "A1", 5.162%, 7/25/2065 (n) | 6247493 | &nbsp;&nbsp;&nbsp; 6295284 |
| OBX Trust, 2025-NQM15, "A1B", 5.143%, 7/27/2065 (n) | 4485515 | &nbsp;&nbsp;&nbsp; 4512301 |
| OBX Trust, 2025-NQM16, "A1", 4.905%, 8/25/2065 (n) | 18777892 | &nbsp;&nbsp;&nbsp; 18850284 |
| OBX Trust, 2025-NQM18, "A1", 5.057%, 9/25/2065 (n) | 13344112 | &nbsp;&nbsp;&nbsp; 13427514 |
| OBX Trust, 2025-NQM4, "A1", 5.4%, 2/25/2055 (n) | 19280768 | &nbsp;&nbsp;&nbsp; 19466775 |
| Octagon 57 Ltd., 2021-1A, "CR", FLR, 5.522% (SOFR - 3mo. + 1.85%), 10/15/2034 (n) | 15000000 | &nbsp;&nbsp;&nbsp; 15008205 |
| OZLM Funding Ltd., 2012-2A, "BR4", FLR, 5.417% (SOFR - 3mo. + 1.75%), 7/30/2037 (n) | 14200000 | &nbsp;&nbsp;&nbsp; 14225532 |
| OZLM Funding Ltd., 2012-2A, "C1R4", FLR, 5.667% (SOFR - 3mo. + 2%), 7/30/2037 (n) | 9000000 | &nbsp;&nbsp;&nbsp; 9011187 |
| OZLM Ltd., 2017-21A, "BR", FLR, 5.568% (SOFR - 3mo. + 1.9%), 1/20/2031 (n) | 27500000 | &nbsp;&nbsp;&nbsp; 27540535 |
| Palmer Square Loan Funding 2025-1A Ltd., "C", FLR, 6.102% (SOFR - 3mo. + 2.25%), 2/15/2033 (n) | 8875000 | &nbsp;&nbsp;&nbsp; 8876455 |
| Parallel Ltd., 2023-1A, "A2R", FLR, 5.468% (SOFR - 3mo. + 1.8%), 7/20/2036 (n) | 30959594 | &nbsp;&nbsp;&nbsp; 31006033 |
| Park Avenue Institutional Advisers CLO Ltd., 2019-2, FLR, 7.063% (SOFR - 3mo. + 3.4%), 10/15/2034 (n) | 12709220 | &nbsp;&nbsp;&nbsp; 12722488 |
| PFP III 2026-13 B Ltd., "B", FLR, 5.6% (SOFR - 1mo. + 1.85%), 8/18/2043 (n) | 6513500 | &nbsp;&nbsp;&nbsp; 6539876 |
| PFP III 2024-11 Ltd., "AS", FLR, 5.862% (SOFR - 1mo. + 2.18957%), 9/17/2039 (n) | 35292589 | &nbsp;&nbsp;&nbsp; 35380848 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Asset-Backed & Securitized – continued | Asset-Backed & Securitized – continued | Asset-Backed & Securitized – continued |
| PMT Loan Trust, 2025-INV10, "A36", FLR, 5.047% (SOFR - 1mo. + 1.35%), 10/01/2056 (n) | $12300193 | &nbsp;&nbsp;&nbsp; $12350301 |
| PMT Loan Trust, 2025-INV4, "A9", 5.5%, 3/25/2056 (n) | 19377161 | &nbsp;&nbsp;&nbsp; 19476745 |
| PMT Loan Trust, 2026-CNF1, "A26", FLR, 4.889% (SOFR - 1mo. + 1.2%), 1/25/2057 (n) | 7536065 | &nbsp;&nbsp;&nbsp; 7535539 |
| PMT Loan Trust, 2026-INV1, "A36", FLR, 5.028% (SOFR - 1mo. + 1.3%), 1/25/2057 (n) | 14900000 | &nbsp;&nbsp;&nbsp; 14900003 |
| PRM Trust, 2025-PRM6, "C", 5.008%, 7/05/2033 (n) | 3740000 | &nbsp;&nbsp;&nbsp; 3743929 |
| Provident Funding Mortgage Trust, 2025-2, "A4", 5.5%, 6/25/2055 (n) | 21392281 | &nbsp;&nbsp;&nbsp; 21548025 |
| Provident Funding Mortgage Trust, 2025-5, "A4", 5.5%, 11/25/2055 (n) | 35896846 | &nbsp;&nbsp;&nbsp; 36005341 |
| Rockford Tower CLO 2020-1A Ltd., "CRR", FLR, 5.568% (SOFR - 3mo. + 1.9%), 1/20/2036 (n) | 12000000 | &nbsp;&nbsp;&nbsp; 12017136 |
| Santander Drive Auto Receivables Trust, 2025-1, "A3", 4.74%, 1/16/2029  | 9335000 | &nbsp;&nbsp;&nbsp; 9357102 |
| Shackleton 2015-7RA CLO Ltd., "B", FLR, 5.322% (SOFR - 3mo. + 1.65%), 7/15/2031 (n) | 13700000 | &nbsp;&nbsp;&nbsp; 13715207 |
| SHR Trust, 2024-LXRY, "B", FLR, 6.13% (SOFR - 1mo. + 2.45%), 10/15/2041 (n) | 24740364 | &nbsp;&nbsp;&nbsp; 24786752 |
| Starwood Commercial Mortgage, 2021-FL2, "D", 6.592%, 4/18/2038 (n) | 3000000 | &nbsp;&nbsp;&nbsp; 3005137 |
| Starwood Commercial Mortgage, 2022-FL3, "D", FLR, 6.457% (SOFR - 30 day + 2.75%), 11/15/2038 (n) | 2750000 | &nbsp;&nbsp;&nbsp; 2726870 |
| Stellantis Finance US, Inc., 4.63%, 7/20/2027 (n) | 10535109 | &nbsp;&nbsp;&nbsp; 10576763 |
| STORE Master Funding LLC, 2024-1A, "A3", 5.93%, 5/20/2054 (n) | 3667625 | &nbsp;&nbsp;&nbsp; 3718993 |
| STORE Master Funding LLC, 2024-1A, "A4", 5.94%, 5/20/2054 (n) | 892125 | &nbsp;&nbsp;&nbsp; 913719 |
| STORE Master Funding LLC, 2025-1A, "A2", 4.98%, 10/20/2055 (n) | 38857085 | &nbsp;&nbsp;&nbsp; 38439162 |
| Taco Bell Funding LLC, 2025-1A, "A2I", 4.821%, 8/25/2055 (n) | 22462602 | &nbsp;&nbsp;&nbsp; 22349060 |
| TPG Real Estate Finance, 2025-FL7, "B" , FLR, 5.625% (SOFR - 1mo. + 1.95%), 6/18/2043 (n) | 16724537 | &nbsp;&nbsp;&nbsp; 16724514 |
| Trinitas CLO Ltd., 2017-6A, "C1R4", FLR, 5.668% (SOFR - 3mo. + 2%), 1/25/2034 (n) | 11414634 | &nbsp;&nbsp;&nbsp; 11424827 |
| Trinitas CLO Ltd., 2021-15A, "CR", FLR, 5.719% (SOFR - 3mo. + 2.05%), 4/22/2034 (n) | 27250000 | &nbsp;&nbsp;&nbsp; 27266241 |
| UBS Commercial Mortgage Trust, 2017-C7, "A4", 3.679%, 12/15/2050  | 1052000 | &nbsp;&nbsp;&nbsp; 1042824 |
| Venture CLO 43 Ltd., 2021-43A, "CR", FLR, 5.922% (SOFR - 3mo. + 2.25%), 4/15/2034 (n) | 29305532 | &nbsp;&nbsp;&nbsp; 29308638 |
| Verus Securitization Trust, 2024-1, "A1", 5.712%, 1/25/2069 (n) | 4645817 | &nbsp;&nbsp;&nbsp; 4675219 |
| Verus Securitization Trust, 2024-2, "A1", 6.095%, 2/25/2069 (n) | 2905153 | &nbsp;&nbsp;&nbsp; 2934303 |
| Verus Securitization Trust, 2024-8, "A1", 5.364%, 10/25/2069 (n) | 3254427 | &nbsp;&nbsp;&nbsp; 3279835 |
| Verus Securitization Trust, 2025-9, "A1", 4.935%, 10/27/2070 (n) | 8326030 | &nbsp;&nbsp;&nbsp; 8368801 |
| Virginia Power Fuel Securitization LLC, 5.088%, 5/01/2027  | 2982067 | &nbsp;&nbsp;&nbsp; 2999925 |
| Voya CLO 2012-4A Ltd., "C1R3", FLR, 7.234% ((SOFR - 3mo. + 0.26161%) + 3.3%), 10/15/2030 (n) | 1737638 | &nbsp;&nbsp;&nbsp; 1750086 |
| Voya CLO 2016-1A Ltd., "A2R", FLR, 5.229% (SOFR - 3mo. + 1.562%), 1/20/2031 (n) | 1000000 | &nbsp;&nbsp;&nbsp; 1003139 |
| Voya CLO 2016-1A Ltd., "BR", FLR, 5.729% (SOFR - 3mo. + 2.061%), 1/20/2031 (n) | 2910000 | &nbsp;&nbsp;&nbsp; 2920159 |
| Wells Fargo Commercial Mortgage Trust, 2016-C34, "A4", 3.096%, 6/15/2049  | 1740000 | &nbsp;&nbsp;&nbsp; 1733472 |
| Wells Fargo Commercial Mortgage Trust, 2017-C42, "A5", 3.589%, 12/15/2050  | 3490000 | &nbsp;&nbsp;&nbsp; 3443960 |
| Wells Fargo Commercial Mortgage Trust, 2017-RB1, "A5", 3.635%, 3/15/2050  | 1500000 | &nbsp;&nbsp;&nbsp; 1473164 |
| Wells Fargo Commercial Mortgage Trust, 2018-C44, "A5", 4.212%, 5/15/2051  | 1500000 | &nbsp;&nbsp;&nbsp; 1500339 |
|  |  | &nbsp;&nbsp;&nbsp; $2126200942 |
| Automotive – 1.1% | Automotive – 1.1% | Automotive – 1.1% |
| Ford Motor Credit Co. LLC, 5.73%, 9/05/2030  | $7913000 | &nbsp;&nbsp;&nbsp; $8101388 |
| Ford Motor Credit Co. LLC, 6.05%, 3/05/2031  | 22999000 | &nbsp;&nbsp;&nbsp; 23773693 |
| Hyundai Capital America, 2.1%, 9/15/2028 (n) | 2000000 | &nbsp;&nbsp;&nbsp; 1897444 |
| Hyundai Capital America, 5.35%, 3/19/2029 (n) | 4963000 | &nbsp;&nbsp;&nbsp; 5114840 |
| Hyundai Capital America, 6.375%, 4/08/2030 (n) | 10896000 | &nbsp;&nbsp;&nbsp; 11638346 |
| LKQ Corp., 6.25%, 6/15/2033  | 15577000 | &nbsp;&nbsp;&nbsp; 16301460 |
| Wabash National Corp., 4.5%, 10/15/2028 (n) | 22233000 | &nbsp;&nbsp;&nbsp; 20690886 |
|  |  | &nbsp;&nbsp;&nbsp; $87518057 |
| Brokerage & Asset Managers – 3.1% | Brokerage & Asset Managers – 3.1% | Brokerage & Asset Managers – 3.1% |
| Charles Schwab Corp., 5.853% to 5/19/2033, FLR (SOFR - 1 day + 2.5%) to 5/19/2034  | $11266000 | &nbsp;&nbsp;&nbsp; $12025112 |
| Charles Schwab Corp., 6.136% to 8/24/2033, FLR (SOFR - 1 day + 2.01%) to 8/24/2034  | 10000000 | &nbsp;&nbsp;&nbsp; 10859217 |
| Charles Schwab Corp., 4.914% to 11/14/2035, FLR (SOFR - 1 day + 1.23%) to 11/14/2036  | 29485000 | &nbsp;&nbsp;&nbsp; 29223755 |
| Charles Schwab Corp., 5% to 6/01/2027, FLR (CMT - 5yr. + 3.256%) to 6/01/2170  | 14272000 | &nbsp;&nbsp;&nbsp; 14294264 |
| Jane Street Group/JSG Finance, Inc., 6.75%, 5/01/2033 (n) | 29337000 | &nbsp;&nbsp;&nbsp; 30514550 |
| Jefferies Financial Group Inc., 5.5%, 2/15/2036  | 47674000 | &nbsp;&nbsp;&nbsp; 47059831 |
| LPL Holdings, Inc., 4.625%, 11/15/2027 (n) | 2794000 | &nbsp;&nbsp;&nbsp; 2780977 |
| LPL Holdings, Inc., 4%, 3/15/2029 (n) | 7300000 | &nbsp;&nbsp;&nbsp; 7199040 |
| LPL Holdings, Inc., 4.375%, 5/15/2031 (n) | 24858000 | &nbsp;&nbsp;&nbsp; 24155657 |
| LPL Holdings, Inc., 5.75%, 6/15/2035  | 14916000 | &nbsp;&nbsp;&nbsp; 15322104 |
| Nomura Holdings, Inc., 7% to 1/15/2031, FLR (CMT - 5yr. + 3.084%) to 1/15/2174  | 27383000 | &nbsp;&nbsp;&nbsp; 28448582 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Brokerage & Asset Managers – continued | Brokerage & Asset Managers – continued | Brokerage & Asset Managers – continued |
| Nomura Holdings, Inc. , 5.043%, 6/10/2036  | $29000000 | &nbsp;&nbsp;&nbsp; $28803562 |
|  |  | &nbsp;&nbsp;&nbsp; $250686651 |
| Building – 1.1% | Building – 1.1% | Building – 1.1% |
| Ferguson Enterprises, Inc., 5%, 10/03/2034  | $5260000 | &nbsp;&nbsp;&nbsp; $5281992 |
| JH North America Holdings, Inc., 5.875%, 1/31/2031 (n) | 16455000 | &nbsp;&nbsp;&nbsp; 16735229 |
| JH North America Holdings, Inc., 6.125%, 7/31/2032 (n) | 16455000 | &nbsp;&nbsp;&nbsp; 16766213 |
| Patrick Industries, Inc., 4.75%, 5/01/2029 (n) | 24652000 | &nbsp;&nbsp;&nbsp; 24402699 |
| Quikrete Holdings, Inc., 6.375%, 3/01/2032 (n) | 24193000 | &nbsp;&nbsp;&nbsp; 25090358 |
|  |  | &nbsp;&nbsp;&nbsp; $88276491 |
| Business Services – 0.2% | Business Services – 0.2% | Business Services – 0.2% |
| Global Payments, Inc., 2.9%, 5/15/2030  | $3563000 | &nbsp;&nbsp;&nbsp; $3312288 |
| Global Payments, Inc., 2.9%, 11/15/2031  | 10669000 | &nbsp;&nbsp;&nbsp; 9571436 |
|  |  | &nbsp;&nbsp;&nbsp; $12883724 |
| Cable TV – 0.8% | Cable TV – 0.8% | Cable TV – 0.8% |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.5%, 8/15/2030 (n) | $21300000 | &nbsp;&nbsp;&nbsp; $20018611 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.25%, 1/15/2034 (n) | 9000000 | &nbsp;&nbsp;&nbsp; 7602215 |
| Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 6.484%, 10/23/2045  | 10000000 | &nbsp;&nbsp;&nbsp; 9411793 |
| Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 5.375%, 5/01/2047  | 4623000 | &nbsp;&nbsp;&nbsp; 3795628 |
| Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 3.9%, 6/01/2052  | 1824000 | &nbsp;&nbsp;&nbsp; 1191036 |
| Time Warner Cable, Inc., 4.5%, 9/15/2042  | 2031000 | &nbsp;&nbsp;&nbsp; 1566192 |
| VZ Secured Financing B.V., 5%, 1/15/2032 (n) | 24183000 | &nbsp;&nbsp;&nbsp; 21836231 |
|  |  | &nbsp;&nbsp;&nbsp; $65421706 |
| Chemicals – 0.2% | Chemicals – 0.2% | Chemicals – 0.2% |
| Chemours Co., 5.75%, 11/15/2028 (n) | $9940000 | &nbsp;&nbsp;&nbsp; $9857644 |
| Chemours Co., 8%, 1/15/2033 (n) | 9940000 | &nbsp;&nbsp;&nbsp; 9966182 |
|  |  | &nbsp;&nbsp;&nbsp; $19823826 |
| Computer Software – 0.2% | Computer Software – 0.2% | Computer Software – 0.2% |
| Oracle Corp., 5.2%, 9/26/2035  | $9669000 | &nbsp;&nbsp;&nbsp; $9214516 |
| Oracle Corp., 5.95%, 9/26/2055  | 7137000 | &nbsp;&nbsp;&nbsp; 6293218 |
|  |  | &nbsp;&nbsp;&nbsp; $15507734 |
| Conglomerates – 0.8% | Conglomerates – 0.8% | Conglomerates – 0.8% |
| nVent Finance S.à r.l., 5.65%, 5/15/2033  | $9324000 | &nbsp;&nbsp;&nbsp; $9722366 |
| Regal Rexnord Corp., 6.3%, 2/15/2030  | 14247000 | &nbsp;&nbsp;&nbsp; 15105632 |
| Regal Rexnord Corp., 6.4%, 4/15/2033  | 26527000 | &nbsp;&nbsp;&nbsp; 28347469 |
| Westinghouse Air Brake Technologies Corp., 4.7%, 9/15/2028  | 7534000 | &nbsp;&nbsp;&nbsp; 7633539 |
| Westinghouse Air Brake Technologies Corp., 5.611%, 3/11/2034  | 6667000 | &nbsp;&nbsp;&nbsp; 6972875 |
|  |  | &nbsp;&nbsp;&nbsp; $67781881 |
| Consumer Services – 0.5% | Consumer Services – 0.5% | Consumer Services – 0.5% |
| CBRE Group, Inc., 5.95%, 8/15/2034  | $26397000 | &nbsp;&nbsp;&nbsp; $28093382 |
| CBRE Services, Inc., 4.8%, 6/15/2030  | 9970000 | &nbsp;&nbsp;&nbsp; 10113560 |
|  |  | &nbsp;&nbsp;&nbsp; $38206942 |
| Electrical Equipment – 0.3% | Electrical Equipment – 0.3% | Electrical Equipment – 0.3% |
| Arrow Electronics, Inc., 5.875%, 4/10/2034  | $23547000 | &nbsp;&nbsp;&nbsp; $24522862 |
| Electronics – 0.2% | Electronics – 0.2% | Electronics – 0.2% |
| Broadcom, Inc., 4.8%, 2/15/2036  | $17745000 | &nbsp;&nbsp;&nbsp; $17516099 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Emerging Market Quasi-Sovereign – 0.4% | Emerging Market Quasi-Sovereign – 0.4% | Emerging Market Quasi-Sovereign – 0.4% |
| OCP S.A. (Kingdom of Morocco), 6.75%, 5/02/2034 (n) | $11687000 | &nbsp;&nbsp;&nbsp; $12506747 |
| Petroleos Mexicanos, 5.95%, 1/28/2031  | 11050000 | &nbsp;&nbsp;&nbsp; 10779397 |
| Sonangol Finance Ltd., 10%, 1/29/2031 (n) | 10000000 | &nbsp;&nbsp;&nbsp; 9880400 |
|  |  | &nbsp;&nbsp;&nbsp; $33166544 |
| Emerging Market Sovereign – 2.5% | Emerging Market Sovereign – 2.5% | Emerging Market Sovereign – 2.5% |
| Arab Republic of Egypt, 7.3%, 9/30/2033  | $19120000 | &nbsp;&nbsp;&nbsp; $19219223 |
| Eagle Funding LuxCo S.à r.l. (United Mexican States), 5.5%, 8/17/2030 (n) | 14939000 | &nbsp;&nbsp;&nbsp; 15175335 |
| Federal Republic of Nigeria, 7.375%, 9/28/2033  | 16631000 | &nbsp;&nbsp;&nbsp; 16802324 |
| Republic of Angola, 8%, 11/26/2029  | 12805000 | &nbsp;&nbsp;&nbsp; 12558707 |
| Republic of Argentina, 5%, 1/09/2038  | 15397000 | &nbsp;&nbsp;&nbsp; 12386887 |
| Republic of Colombia, 6.5%, 1/21/2033  | 16091000 | &nbsp;&nbsp;&nbsp; 15937331 |
| Republic of Cote d'Ivoire, 7.625%, 1/30/2033 (n) | 18280000 | &nbsp;&nbsp;&nbsp; 19507641 |
| Republic of Romania, 6.625%, 5/16/2036 (n) | 22360000 | &nbsp;&nbsp;&nbsp; 23397982 |
| Republic of Serbia, 6%, 6/12/2034 (n) | 9377000 | &nbsp;&nbsp;&nbsp; 9726019 |
| Republic of South Africa, 7.1%, 11/19/2036  | 22180000 | &nbsp;&nbsp;&nbsp; 23507742 |
| Republic of Turkey, 5.875%, 5/21/2030  | 7668000 | &nbsp;&nbsp;&nbsp; 9770547 |
| Republic of Turkey, 7.625%, 5/15/2034  | $6117000 | &nbsp;&nbsp;&nbsp; 6513726 |
| United Mexican States, 6.875%, 5/13/2037  | 13848000 | &nbsp;&nbsp;&nbsp; 14640798 |
|  |  | &nbsp;&nbsp;&nbsp; $199144262 |
| Energy - Independent – 1.2% | Energy - Independent – 1.2% | Energy - Independent – 1.2% |
| Azule Energy Finance PLC, 8.25%, 1/22/2031 (n) | $15869000 | &nbsp;&nbsp;&nbsp; $15916691 |
| Occidental Petroleum Corp., 6.625%, 9/01/2030  | 14500000 | &nbsp;&nbsp;&nbsp; 15590820 |
| Occidental Petroleum Corp., 5.55%, 10/01/2034  | 6292000 | &nbsp;&nbsp;&nbsp; 6436515 |
| Santos Finance Ltd., 6.875%, 9/19/2033 (n) | 34136000 | &nbsp;&nbsp;&nbsp; 37395544 |
| Santos Finance Ltd., 5.75%, 11/13/2035 (n) | 19035000 | &nbsp;&nbsp;&nbsp; 19088712 |
| Sierracol Energy Andina LLC, 6%, 6/15/2028 (n) | 4739000 | &nbsp;&nbsp;&nbsp; 4547213 |
|  |  | &nbsp;&nbsp;&nbsp; $98975495 |
| Energy - Integrated – 0.5% | Energy - Integrated – 0.5% | Energy - Integrated – 0.5% |
| BP Capital Markets PLC, 6.45% to 3/01/2034, FLR ((CMT - 5yr. + 2.153%) + 0.25%) to 3/01/2054, FLR ((CMT - 5yr. + <br> 2.153%) + 1%) to 9/01/2172 <br>| $10000000 | &nbsp;&nbsp;&nbsp; $10613850 |
| Eni S.p.A., 5.5%, 5/15/2034 (n) | 25000000 | &nbsp;&nbsp;&nbsp; 25838890 |
|  |  | &nbsp;&nbsp;&nbsp; $36452740 |
| Entertainment – 0.6% | Entertainment – 0.6% | Entertainment – 0.6% |
| NCL Corp. Ltd., 6.75%, 2/01/2032 (n) | $24750000 | &nbsp;&nbsp;&nbsp; $25363948 |
| Six Flags Entertainment Corp., 6.625%, 5/01/2032 (n) | 23410000 | &nbsp;&nbsp;&nbsp; 23921345 |
|  |  | &nbsp;&nbsp;&nbsp; $49285293 |
| Financial Institutions – 1.5% | Financial Institutions – 1.5% | Financial Institutions – 1.5% |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 5.75%, 6/06/2028  | $6892000 | &nbsp;&nbsp;&nbsp; $7136284 |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.3%, 1/30/2032  | 5000000 | &nbsp;&nbsp;&nbsp; 4625994 |
| Avolon Holdings Funding Ltd., 3.25%, 2/15/2027 (n) | 2342000 | &nbsp;&nbsp;&nbsp; 2319370 |
| Avolon Holdings Funding Ltd., 2.75%, 2/21/2028 (n) | 9944000 | &nbsp;&nbsp;&nbsp; 9653335 |
| Avolon Holdings Funding Ltd., 6.375%, 5/04/2028 (n) | 3115000 | &nbsp;&nbsp;&nbsp; 3241949 |
| Macquarie AirFinance Holdings Ltd., 6.4%, 3/26/2029 (n) | 3124000 | &nbsp;&nbsp;&nbsp; 3281662 |
| Macquarie AirFinance Holdings Ltd., 6.5%, 3/26/2031 (n) | 11500000 | &nbsp;&nbsp;&nbsp; 12296925 |
| Muthoot Finance Ltd., 7.125%, 2/14/2028 (n) | 16211000 | &nbsp;&nbsp;&nbsp; 16603924 |
| Shriram Finance Ltd., 6.15%, 4/03/2028 (n) | 16582000 | &nbsp;&nbsp;&nbsp; 17074953 |
| SMBC Aviation Capital Finance DAC, 5.55%, 4/03/2034 (n) | 20000000 | &nbsp;&nbsp;&nbsp; 20570858 |
| SMBC Aviation Capital Finance DAC, 5.25%, 11/26/2035 (n) | 25878000 | &nbsp;&nbsp;&nbsp; 25790019 |
|  |  | &nbsp;&nbsp;&nbsp; $122595273 |
| Food & Beverages – 1.5% | Food & Beverages – 1.5% | Food & Beverages – 1.5% |
| Bacardi Ltd., 5.15%, 5/15/2038 (n) | $955000 | &nbsp;&nbsp;&nbsp; $899267 |
| Bacardi-Martini B.V., 5.9%, 6/15/2043 (n) | 10000000 | &nbsp;&nbsp;&nbsp; 9695810 |
| Constellation Brands, Inc., 4.8%, 5/01/2030  | 5870000 | &nbsp;&nbsp;&nbsp; 5972582 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Food & Beverages – continued | Food & Beverages – continued | Food & Beverages – continued |
| JBS N.V./JBS USA Foods Group Holdings, Inc./JBS USA Food Co., 5.95%, 4/20/2035  | $19843000 | &nbsp;&nbsp;&nbsp; $20851818 |
| JBS USA Lux S.A./JBS USA Food Co./JBS USA Finance, Inc., 5.75%, 4/01/2033  | 16415000 | &nbsp;&nbsp;&nbsp; 17130037 |
| Performance Food Group Co., 6.125%, 9/15/2032 (n) | 27813000 | &nbsp;&nbsp;&nbsp; 28565563 |
| Post Holdings, Inc., 4.625%, 4/15/2030 (n) | 16000000 | &nbsp;&nbsp;&nbsp; 15624190 |
| Post Holdings, Inc., 6.25%, 10/15/2034 (n) | 18492000 | &nbsp;&nbsp;&nbsp; 18624329 |
|  |  | &nbsp;&nbsp;&nbsp; $117363596 |
| Forest & Paper Products – 0.2% | Forest & Paper Products – 0.2% | Forest & Paper Products – 0.2% |
| Smurfit Westrock Financing DAC, 5.418%, 1/15/2035  | $12000000 | &nbsp;&nbsp;&nbsp; $12348454 |
| Gaming & Lodging – 0.4% | Gaming & Lodging – 0.4% | Gaming & Lodging – 0.4% |
| Las Vegas Sands Corp., 5.625%, 6/15/2028  | $10681000 | &nbsp;&nbsp;&nbsp; $10935348 |
| Marriott International, Inc., 2.85%, 4/15/2031  | 654000 | &nbsp;&nbsp;&nbsp; 606941 |
| Marriott International, Inc., 2.75%, 10/15/2033  | 4537000 | &nbsp;&nbsp;&nbsp; 3962032 |
| Wynn Macau Ltd., 6.75%, 2/15/2034 (n) | 14373000 | &nbsp;&nbsp;&nbsp; 14568741 |
|  |  | &nbsp;&nbsp;&nbsp; $30073062 |
| Industrial – 0.4% | Industrial – 0.4% | Industrial – 0.4% |
| Booz Allen Hamilton, Inc., 5.95%, 4/15/2035  | $31306000 | &nbsp;&nbsp;&nbsp; $32210715 |
| Insurance – 1.4% | Insurance – 1.4% | Insurance – 1.4% |
| Corebridge Financial, Inc., 5.75%, 1/15/2034  | $18000000 | &nbsp;&nbsp;&nbsp; $18804091 |
| Corebridge Financial, Inc., 4.35%, 4/05/2042  | 473000 | &nbsp;&nbsp;&nbsp; 404532 |
| Corebridge Financial, Inc., 4.4%, 4/05/2052  | 1412000 | &nbsp;&nbsp;&nbsp; 1146520 |
| Corebridge Financial, Inc., 6.875% to 12/15/2027, FLR (CMT - 5yr. + 3.846%) to 12/15/2052  | 4850000 | &nbsp;&nbsp;&nbsp; 4981138 |
| Corebridge Financial, Inc., 6.875% to 12/01/2030, FLR (CMT - 5yr. + 3.181%) to 6/01/2174  | 14368000 | &nbsp;&nbsp;&nbsp; 14927892 |
| MetLife, Inc., 5.375%, 7/15/2033  | 10000000 | &nbsp;&nbsp;&nbsp; 10487864 |
| MetLife, Inc., 6.35% to 3/15/2035, FLR (CMT - 5yr. + 2.078%) to 3/15/2055  | 14405000 | &nbsp;&nbsp;&nbsp; 15129024 |
| Nippon Life Insurance Co., 6.5% to 4/30/2035, FLR (CMT - 5yr. + 3.189%) to 4/30/2055 (n) | 9681000 | &nbsp;&nbsp;&nbsp; 10357654 |
| Sammons Financial Group, Inc., 6.875%, 4/15/2034 (n) | 32695000 | &nbsp;&nbsp;&nbsp; 35679652 |
|  |  | &nbsp;&nbsp;&nbsp; $111918367 |
| Insurance - Health – 0.1% | Insurance - Health – 0.1% | Insurance - Health – 0.1% |
| Humana, Inc., 5.875%, 3/01/2033  | $6326000 | &nbsp;&nbsp;&nbsp; $6548657 |
| Insurance - Property & Casualty – 2.7% | Insurance - Property & Casualty – 2.7% | Insurance - Property & Casualty – 2.7% |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 6.75%, 10/15/2027 (n) | $16250000 | &nbsp;&nbsp;&nbsp; $16295955 |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 5.875%, 11/01/2029 (n) | 13000000 | &nbsp;&nbsp;&nbsp; 12958884 |
| AmWINS Group Benefits, Inc., 6.375%, 2/15/2029 (n) | 15000000 | &nbsp;&nbsp;&nbsp; 15391230 |
| Arthur J. Gallagher & Co., 6.5%, 2/15/2034  | 10000000 | &nbsp;&nbsp;&nbsp; 10995474 |
| Arthur J. Gallagher & Co., 5.45%, 7/15/2034  | 12000000 | &nbsp;&nbsp;&nbsp; 12396904 |
| Arthur J. Gallagher & Co., 5.15%, 2/15/2035  | 15000000 | &nbsp;&nbsp;&nbsp; 15116646 |
| Brown & Brown, Inc., 2.375%, 3/15/2031  | 6452000 | &nbsp;&nbsp;&nbsp; 5799360 |
| Brown & Brown, Inc., 4.2%, 3/17/2032  | 2157000 | &nbsp;&nbsp;&nbsp; 2084769 |
| Brown & Brown, Inc., 5.65%, 6/11/2034  | 22462000 | &nbsp;&nbsp;&nbsp; 23133420 |
| Fairfax Financial Holdings Ltd., 4.85%, 4/17/2028  | 4578000 | &nbsp;&nbsp;&nbsp; 4641091 |
| Fairfax Financial Holdings Ltd., 3.375%, 3/03/2031  | 452000 | &nbsp;&nbsp;&nbsp; 427235 |
| Fairfax Financial Holdings Ltd., 5.625%, 8/16/2032  | 12376000 | &nbsp;&nbsp;&nbsp; 12918726 |
| Fairfax Financial Holdings Ltd., 6%, 12/07/2033  | 11400000 | &nbsp;&nbsp;&nbsp; 12085080 |
| Fairfax Financial Holdings Ltd., 5.75%, 5/20/2035  | 18722000 | &nbsp;&nbsp;&nbsp; 19496926 |
| Fairfax Financial Holdings Ltd., 6.35%, 3/22/2054  | 2500000 | &nbsp;&nbsp;&nbsp; 2616493 |
| Hub International Ltd., 5.625%, 12/01/2029 (n) | 5850000 | &nbsp;&nbsp;&nbsp; 5843866 |
| Hub International Ltd., 7.25%, 6/15/2030 (n) | 19641000 | &nbsp;&nbsp;&nbsp; 20492516 |
| Panther Escrow Issuer, 7.125%, 6/01/2031 (n) | 23572000 | &nbsp;&nbsp;&nbsp; 24277416 |
|  |  | &nbsp;&nbsp;&nbsp; $216971991 |
| Interactive Media Services – 0.3% | Interactive Media Services – 0.3% | Interactive Media Services – 0.3% |
| Snap, Inc., 6.875%, 3/01/2033 (n)  | $26291000 | &nbsp;&nbsp;&nbsp; $26978641 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| International Market Quasi-Sovereign – 0.0% | International Market Quasi-Sovereign – 0.0% | International Market Quasi-Sovereign – 0.0% |
| Electricite de France S.A., 6.9%, 5/23/2053 (n)  | $3557000 | &nbsp;&nbsp;&nbsp; $3953415 |
| Machinery & Tools – 0.6% | Machinery & Tools – 0.6% | Machinery & Tools – 0.6% |
| Ashtead Capital, Inc., 5.5%, 8/11/2032 (n) | $20580000 | &nbsp;&nbsp;&nbsp; $21335169 |
| Ashtead Capital, Inc., 5.55%, 5/30/2033 (n) | 13008000 | &nbsp;&nbsp;&nbsp; 13444879 |
| Ashtead Capital, Inc., 5.8%, 4/15/2034 (n) | 9444000 | &nbsp;&nbsp;&nbsp; 9901260 |
|  |  | &nbsp;&nbsp;&nbsp; $44681308 |
| Major Banks – 5.9% | Major Banks – 5.9% | Major Banks – 5.9% |
| Banco Mercantil del Norte S.A., 6.625% to 1/24/2032, FLR (CMT - 10yr. + 5.034%) to 1/24/2171  | $9723000 | &nbsp;&nbsp;&nbsp; $9602520 |
| Bank of America Corp., 4.271% to 7/23/2028, FLR ((SOFR - 3mo. + 0.26161%) + 1.31%) to 7/23/2029  | 579000 | &nbsp;&nbsp;&nbsp; 581749 |
| Bank of America Corp., 2.572% to 10/20/2031, FLR (SOFR - 1 day + 1.21%) to 10/20/2032  | 8268000 | &nbsp;&nbsp;&nbsp; 7459637 |
| Bank of America Corp., 5.015% to 7/22/2032, FLR (SOFR - 1 day + 2.16%) to 7/22/2033  | 3000000 | &nbsp;&nbsp;&nbsp; 3059574 |
| Bank of America Corp., 5.288% to 4/25/2033, FLR (SOFR - 1 day + 1.630%) to 4/25/2034  | 10503000 | &nbsp;&nbsp;&nbsp; 10789344 |
| Bank of America Corp., 5.744% to 2/12/2035, FLR (SOFR - 1 day + 1.697%) to 2/12/2036  | 19835000 | &nbsp;&nbsp;&nbsp; 20508725 |
| Bank of America Corp., 3.846% to 3/08/2032, FLR (CMT - 1yr. + 2%) to 3/08/2037  | 4785000 | &nbsp;&nbsp;&nbsp; 4492151 |
| Bank of America Corp., 6.25% to 7/26/2030, FLR (CMT - 5yr. + 2.351%) to 10/26/2173  | 15000000 | &nbsp;&nbsp;&nbsp; 15267761 |
| Barclays PLC, 7.437% to 11/02/2032, FLR (CMT - 1yr. + 3.5%) to 11/02/2033  | 5972000 | &nbsp;&nbsp;&nbsp; 6828252 |
| Barclays PLC, 8% to 9/15/2029, FLR (CMT - 5yr. + 5.431%) to 12/15/2171  | 15000000 | &nbsp;&nbsp;&nbsp; 16035660 |
| Capital One Financial Corp., 3.273% to 3/01/2029, FLR (SOFR - 1 day + 1.79%) to 3/01/2030  | 5000000 | &nbsp;&nbsp;&nbsp; 4850523 |
| Capital One Financial Corp., 7.624% to 10/30/2030, FLR (SOFR - 1 day + 3.07%) to 10/30/2031  | 5078000 | &nbsp;&nbsp;&nbsp; 5700163 |
| Capital One Financial Corp., 6.7%, 11/29/2032  | 22683000 | &nbsp;&nbsp;&nbsp; 25032006 |
| Capital One Financial Corp., 5.817% to 2/01/2033, FLR (SOFR - 1 day + 2.6%) to 2/01/2034  | 5330000 | &nbsp;&nbsp;&nbsp; 5558553 |
| Capital One Financial Corp., 6.377% to 6/08/2033, FLR (SOFR - 1 day + 2.86%) to 6/08/2034  | 21988000 | &nbsp;&nbsp;&nbsp; 23610721 |
| Capital One Financial Corp., 6.051% to 2/01/2034, FLR (SOFR - 1 day + 2.26%) to 2/01/2035  | 1859000 | &nbsp;&nbsp;&nbsp; 1952525 |
| Citigroup, Inc., 6.875% to 8/15/2030, FLR (CMT - 5yr. + 2.89%) to 11/15/2173  | 33948000 | &nbsp;&nbsp;&nbsp; 34679791 |
| Deutsche Bank AG, 7.146% to 7/13/2026, FLR (SOFR - 1 day + 2.52%) to 7/13/2027  | 5752000 | &nbsp;&nbsp;&nbsp; 5830071 |
| Deutsche Bank AG, 2.311% to 11/16/2026, FLR (SOFR - 1 day + 1.219%) to 11/16/2027  | 2217000 | &nbsp;&nbsp;&nbsp; 2185748 |
| Deutsche Bank AG, 6.72% to 1/18/2028, FLR (SOFR - 1 day + 3.18%) to 1/18/2029  | 8912000 | &nbsp;&nbsp;&nbsp; 9335099 |
| Deutsche Bank AG, 5.403% to 9/11/2034, FLR (SOFR - 1 day + 2.05%) to 9/11/2035  | 10000000 | &nbsp;&nbsp;&nbsp; 10143788 |
| Goldman Sachs Group, Inc., 2.65% to 10/21/2031, FLR (SOFR - 1 day + 1.264%) to 10/21/2032  | 6695000 | &nbsp;&nbsp;&nbsp; 6050136 |
| Goldman Sachs Group, Inc., 3.102% to 2/24/2032, FLR (SOFR - 1 day + 1.41%) to 2/24/2033  | 4410000 | &nbsp;&nbsp;&nbsp; 4052318 |
| HSBC Holdings PLC, 4.7% to 9/09/2031, FLR (CMT - 1yr. + 3.25%) to 9/09/2169  | 1150000 | &nbsp;&nbsp;&nbsp; 1088474 |
| HSBC Holdings PLC, 4% to 9/09/2026, FLR (CMT - 1yr. + 3.222%) to 9/09/2170  | 536000 | &nbsp;&nbsp;&nbsp; 535376 |
| JPMorgan Chase & Co., 4.851% to 7/25/2027, FLR (SOFR - 1 day + 1.99%) to 7/25/2028  | 4000000 | &nbsp;&nbsp;&nbsp; 4049011 |
| JPMorgan Chase & Co., 2.956% to 5/13/2030, FLR (SOFR - 1 day + 2.515%) to 5/13/2031  | 726000 | &nbsp;&nbsp;&nbsp; 684226 |
| JPMorgan Chase & Co., 2.963% to 1/25/2032, FLR (SOFR - 1 day + 1.26%) to 1/25/2033  | 4000000 | &nbsp;&nbsp;&nbsp; 3668354 |
| JPMorgan Chase & Co., 5.766%, 4/22/2035  | 17245000 | &nbsp;&nbsp;&nbsp; 18260632 |
| JPMorgan Chase & Co., 4.946% to 10/22/2034, FLR (SOFR - 1 day + 1.34%) to 10/22/2035  | 9999000 | &nbsp;&nbsp;&nbsp; 10041130 |
| Morgan Stanley, 5.449% to 7/20/2028, FLR (SOFR - 1 day + 1.63%) to 7/20/2029  | 1796000 | &nbsp;&nbsp;&nbsp; 1851436 |
| Morgan Stanley, 2.511% to 10/20/2031, FLR (SOFR - 1 day + 1.2%) to 10/20/2032  | 7539000 | &nbsp;&nbsp;&nbsp; 6767124 |
| Morgan Stanley, 5.424% to 7/21/2033, FLR (SOFR - 1 day + 1.88%) to 7/21/2034  | 9774000 | &nbsp;&nbsp;&nbsp; 10118484 |
| Morgan Stanley, 5.32% to 7/19/2034, FLR (SOFR - 1 day + 1.555%) to 7/19/2035  | 15000000 | &nbsp;&nbsp;&nbsp; 15381153 |
| Morgan Stanley, 5.942% to 2/07/2034, FLR (CMT - 5yr. + 1.8%) to 2/07/2039  | 15000000 | &nbsp;&nbsp;&nbsp; 15696843 |
| PNC Financial Services Group, Inc., 5.676% to 1/22/2034, FLR (SOFR - 1 day + 1.902%) to 1/22/2035  | 14643000 | &nbsp;&nbsp;&nbsp; 15361516 |
| PNC Financial Services Group, Inc., 5.401% to 7/23/2034, FLR (SOFR - 1 day + 1.599%) to 7/23/2035  | 7000000 | &nbsp;&nbsp;&nbsp; 7208452 |
| Regions Financial Corp., 5.502%, 9/06/2035  | 26000000 | &nbsp;&nbsp;&nbsp; 26711821 |
| UBS Group AG, 4.703% to 8/05/2026, FLR (CMT - 1yr. + 2.05%) to 8/05/2027 (n) | 3165000 | &nbsp;&nbsp;&nbsp; 3174899 |
| UBS Group AG, 1.494% to 8/10/2026, FLR (CMT - 1yr. + 0.85%) to 8/10/2027 (n) | 3500000 | &nbsp;&nbsp;&nbsp; 3452576 |
| UBS Group AG, 5.699% to 2/08/2034, FLR (CMT - 1yr. + 1.77%) to 2/08/2035 (n) | 17000000 | &nbsp;&nbsp;&nbsp; 17809688 |
| UBS Group AG, 4.375% to 2/10/2031, FLR (CMT - 1yr. + 3.313%) to 8/10/2171 (n) | 2746000 | &nbsp;&nbsp;&nbsp; 2507943 |
| UBS Group AG, 9.25% to 11/13/2033, FLR (CMT - 5yr. + 4.758%) to 5/13/2172 (n) | 7091000 | &nbsp;&nbsp;&nbsp; 8293489 |
| UBS Group AG, 7% to 8/05/2035, FLR (USD SOFR ICE Swap Rate - 5yr. + 3.296%) to 8/05/2172 (n) | 23491000 | &nbsp;&nbsp;&nbsp; 23875172 |
| UBS Group Funding (Switzerland) AG, 4.253%, 3/23/2028 (n) | 1618000 | &nbsp;&nbsp;&nbsp; 1621150 |
| Wells Fargo & Co., 5.574% to 7/25/2028, FLR (SOFR - 1 day + 1.74%) to 7/25/2029  | 3333000 | &nbsp;&nbsp;&nbsp; 3448665 |
| Wells Fargo & Co., 2.572% to 2/11/2030, FLR ((SOFR - 3mo. + 0.26161%) + 1%) to 2/11/2031  | 5515000 | &nbsp;&nbsp;&nbsp; 5154002 |
| Wells Fargo & Co., 3.35% to 3/02/2032, FLR (SOFR - 1 day + 1.5%) to 3/02/2033  | 26071000 | &nbsp;&nbsp;&nbsp; 24309484 |
| Wells Fargo & Co., 3.9% to 3/15/2026, FLR (CMT - 1yr. + 3.453%) to 3/15/2071  | 4785000 | &nbsp;&nbsp;&nbsp; 4779698 |
|  |  | &nbsp;&nbsp;&nbsp; $469457613 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Medical & Health Technology & Services – 0.4% | Medical & Health Technology & Services – 0.4% | Medical & Health Technology & Services – 0.4% |
| Adventist Health System/West, 5.43%, 3/01/2032  | $5185000 | &nbsp;&nbsp;&nbsp; $5306794 |
| Alcon Finance Corp., 5.75%, 12/06/2052 (n) | 6027000 | &nbsp;&nbsp;&nbsp; 6068166 |
| Marin General Hospital, 7.242%, 8/01/2045  | 2805000 | &nbsp;&nbsp;&nbsp; 3044977 |
| ProMedica Toledo Hospital, "B", 5.325%, 11/15/2028  | 3153000 | &nbsp;&nbsp;&nbsp; 3201922 |
| ProMedica Toledo Hospital, "B", AGM, 5.75%, 11/15/2038  | 568000 | &nbsp;&nbsp;&nbsp; 573435 |
| UC Health LLC, BAM, 5.858%, 8/01/2035  | 14516000 | &nbsp;&nbsp;&nbsp; 15088548 |
|  |  | &nbsp;&nbsp;&nbsp; $33283842 |
| Metals & Mining – 1.2% | Metals & Mining – 1.2% | Metals & Mining – 1.2% |
| Anglo American Capital PLC, 2.875%, 3/17/2031 (n) | $9067000 | &nbsp;&nbsp;&nbsp; $8382621 |
| Anglo American Capital PLC, 5.5%, 5/02/2033 (n) | 20497000 | &nbsp;&nbsp;&nbsp; 21236347 |
| Anglo American Capital PLC, 4.75%, 3/16/2052 (n) | 6305000 | &nbsp;&nbsp;&nbsp; 5343715 |
| Fortescue Treasury Pty Ltd., 4.375%, 4/01/2031 (n) | 17883000 | &nbsp;&nbsp;&nbsp; 17278557 |
| Glencore Funding LLC, 2.85%, 4/27/2031 (n) | 7907000 | &nbsp;&nbsp;&nbsp; 7322634 |
| Rio Tinto Finance (USA) PLC, 5.25%, 3/14/2035  | 19224000 | &nbsp;&nbsp;&nbsp; 19763937 |
| Samarco Mineracao S.A., 9% (4% Cash + 5% PIK) to 12/30/2026, (5.5% Cash + 3.5% PIK) to 12/30/2027, 9.25% <br> Cash to 12/30/2029, 9.5% Cash to 6/30/2031 (n)(p)<br>| 13461139 | &nbsp;&nbsp;&nbsp; 13513880 |
|  |  | &nbsp;&nbsp;&nbsp; $92841691 |
| Midstream – 3.0% | Midstream – 3.0% | Midstream – 3.0% |
| Cheniere Energy Partners LP, 5.75%, 8/15/2034  | $24857000 | &nbsp;&nbsp;&nbsp; $25910084 |
| Cheniere Energy, Inc., 5.65%, 4/15/2034  | 10000000 | &nbsp;&nbsp;&nbsp; 10367866 |
| DCP Midstream Operating LP, 3.25%, 2/15/2032  | 26264000 | &nbsp;&nbsp;&nbsp; 24174744 |
| Enbridge, Inc., 3.125%, 11/15/2029  | 1344000 | &nbsp;&nbsp;&nbsp; 1290744 |
| Enbridge, Inc., 5.7%, 3/08/2033  | 4620000 | &nbsp;&nbsp;&nbsp; 4844596 |
| Enbridge, Inc., 2.5%, 8/01/2033  | 1923000 | &nbsp;&nbsp;&nbsp; 1650984 |
| Enbridge, Inc., 5.625%, 4/05/2034  | 14836000 | &nbsp;&nbsp;&nbsp; 15448674 |
| Energy Transfer LP, 5.35%, 1/15/2036  | 27836000 | &nbsp;&nbsp;&nbsp; 27805942 |
| Plains All American Pipeline LP, 3.8%, 9/15/2030  | 4057000 | &nbsp;&nbsp;&nbsp; 3951049 |
| Plains All American Pipeline LP, 5.7%, 9/15/2034  | 20000000 | &nbsp;&nbsp;&nbsp; 20624704 |
| Plains All American Pipeline LP, 5.6%, 1/15/2036  | 6094000 | &nbsp;&nbsp;&nbsp; 6182796 |
| Targa Resources Corp., 6.125%, 3/15/2033  | 13342000 | &nbsp;&nbsp;&nbsp; 14256158 |
| Targa Resources Corp., 5.4%, 7/30/2036  | 22698000 | &nbsp;&nbsp;&nbsp; 22736967 |
| Targa Resources Corp., 4.95%, 4/15/2052  | 5521000 | &nbsp;&nbsp;&nbsp; 4713908 |
| Targa Resources Partners LP/Targa Resources Finance Corp., 4.875%, 2/01/2031  | 9038000 | &nbsp;&nbsp;&nbsp; 9122336 |
| Targa Resources Partners LP/Targa Resources Finance Corp., 4%, 1/15/2032  | 9305000 | &nbsp;&nbsp;&nbsp; 8933302 |
| Venture Global LNG, Inc., 7%, 1/15/2030 (n) | 34335000 | &nbsp;&nbsp;&nbsp; 34547740 |
|  |  | &nbsp;&nbsp;&nbsp; $236562594 |
| Mortgage-Backed – 0.0% | Mortgage-Backed – 0.0% |  |
| Fannie Mae, 6.5%, 5/01/2031  | $3967 | &nbsp;&nbsp;&nbsp; $4102 |
| Fannie Mae, 3%, 2/25/2033 (i) | 114098 | &nbsp;&nbsp;&nbsp; 7585 |
| Fannie Mae, 5.5%, 9/01/2034 - 11/01/2036  | 14784 | &nbsp;&nbsp;&nbsp; 15331 |
| Fannie Mae, 6%, 11/01/2034  | 48157 | &nbsp;&nbsp;&nbsp; 50123 |
| Freddie Mac, 1.11%, 6/25/2030 (i) | 31689209 | &nbsp;&nbsp;&nbsp; 1305481 |
| Ginnie Mae, 3%, 9/20/2047  | 66625 | &nbsp;&nbsp;&nbsp; 60886 |
|  |  | &nbsp;&nbsp;&nbsp; $1443508 |
| Municipals – 0.9% | Municipals – 0.9% | Municipals – 0.9% |
| Alaska Industrial Development & Export Authority Rev., Taxable (Rental Car Facility Project at Ted Stevens Anchorage <br> International Airport), "A", NPFG, 5.25%, 3/01/2030 <br>| $4845000 | &nbsp;&nbsp;&nbsp; $4846206 |
| Berks County, PA, Municipal Authority Rev., Taxable (Tower Health Project), "A-1", 8%, 6/30/2034  | 5800000 | &nbsp;&nbsp;&nbsp; 5905466 |
| Berks County, PA, Municipal Authority Rev., Taxable (Tower Health Project), "A-4", 7%, 6/30/2039  | 1211000 | &nbsp;&nbsp;&nbsp; 989592 |
| Berks County, PA, Municipal Authority Rev., Taxable (Tower Health Project), Convertible Capital Appreciation, "B-2", <br> 0% to 11/15/2029, 8% to 6/30/2044 <br>| 637000 | &nbsp;&nbsp;&nbsp; 323988 |
| Bridgeview, IL, Stadium & Redevelopment Projects, Taxable, AAC, 5.14%, 12/01/2036  | 1205000 | &nbsp;&nbsp;&nbsp; 1127396 |
| Escambia County, FL, Health Facilities Authority Rev., Taxable (Baptist Health Care Corp.), "B", AGM, <br> 3.607%, 8/15/2040 <br>| 1730000 | &nbsp;&nbsp;&nbsp; 1431058 |
| Kentucky Higher Education Student Loan Corp. Rev., Taxable, "A-2", 5.949%, 6/01/2037  | 5220000 | &nbsp;&nbsp;&nbsp; 5376059 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Municipals – continued | Municipals – continued | Municipals – continued |
| National Finance Authority, NH, Utility Refunding Rev., Taxable (Wheeling Power Co. Project), "A", <br> 6.89%, 4/01/2034 <br>| $29895000 | &nbsp;&nbsp;&nbsp; $31523599 |
| Oklahoma Development Finance Authority, Health System Rev., Taxable (OU Medicine Project), "C", <br> 5.45%, 8/15/2028 <br>| 8308000 | &nbsp;&nbsp;&nbsp; 8254246 |
| Port Beaumont, TX, Industrial Development Authority, Facility Rev., Taxable (Jefferson Gulf Coast Energy Project), <br> "B", 4.1%, 1/01/2028 (n)<br>| 2755000 | &nbsp;&nbsp;&nbsp; 2516078 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Taxable, "A-2", 4.55%, 7/01/2040  | 1326000 | &nbsp;&nbsp;&nbsp; 1182719 |
| Wisconsin Public Finance Authority, Senior Lien Rev., Taxable (E-470 Public Highway Authority Service Areas Project), <br> 7.087%, 7/01/2060 <br>| 12115000 | &nbsp;&nbsp;&nbsp; 12235078 |
|  |  | &nbsp;&nbsp;&nbsp; $75711485 |
| Natural Gas - Distribution – 0.1% | Natural Gas - Distribution – 0.1% | Natural Gas - Distribution – 0.1% |
| Boston Gas Co., 3.757%, 3/16/2032 (n)  | $5000000 | &nbsp;&nbsp;&nbsp; $4739870 |
| Network & Telecom – 0.4% | Network & Telecom – 0.4% | Network & Telecom – 0.4% |
| NTT Finance Corp., 5.502%, 7/16/2035 (n)  | $27923000 | &nbsp;&nbsp;&nbsp; $28844871 |
| Oils – 0.2% | Oils – 0.2% | Oils – 0.2% |
| Raizen Fuels Finance S.A., 5.7%, 1/17/2035 (n)  | $17983000 | &nbsp;&nbsp;&nbsp; $13945817 |
| Other Banks & Diversified Financials – 0.8% | Other Banks & Diversified Financials – 0.8% | Other Banks & Diversified Financials – 0.8% |
| BBVA Bancomer S.A. (Texas), 8.45% to 6/29/2033, FLR (CMT - 5yr. + 4.661%) to 6/29/2038 (n) | $8553000 | &nbsp;&nbsp;&nbsp; $9508045 |
| Intesa Sanpaolo S.p.A., 7.2%, 11/28/2033 (n) | 9924000 | &nbsp;&nbsp;&nbsp; 11356334 |
| Macquarie Group Ltd., 4.442% to 6/21/2032, FLR (SOFR - 1 day + 2.405%) to 6/21/2033 (n) | 8358000 | &nbsp;&nbsp;&nbsp; 8218735 |
| Macquarie Group Ltd., 6.255% to 12/07/2033, FLR (SOFR - 1 day + 2.303%) to 12/07/2034 (n) | 17190000 | &nbsp;&nbsp;&nbsp; 18675782 |
| Truist Financial Corp., 5.711% to 1/24/2034, FLR (SOFR - 1 day + 1.922%) to 1/24/2035  | 18734000 | &nbsp;&nbsp;&nbsp; 19619346 |
|  |  | &nbsp;&nbsp;&nbsp; $67378242 |
| Precious Metals & Minerals – 0.4% | Precious Metals & Minerals – 0.4% | Precious Metals & Minerals – 0.4% |
| Eldorado Gold Corp., 6.25%, 9/01/2029 (n) | $3500000 | &nbsp;&nbsp;&nbsp; $3517510 |
| Northern Star Resources Ltd. Co., 6.125%, 4/11/2033 (n) | 25176000 | &nbsp;&nbsp;&nbsp; 26549913 |
|  |  | &nbsp;&nbsp;&nbsp; $30067423 |
| Real Estate - Office – 1.2% | Real Estate - Office – 1.2% | Real Estate - Office – 1.2% |
| Boston Properties LP, REIT, 2.9%, 3/15/2030  | $10000000 | &nbsp;&nbsp;&nbsp; $9390526 |
| Boston Properties LP, REIT, 2.55%, 4/01/2032  | 11423000 | &nbsp;&nbsp;&nbsp; 9986734 |
| Boston Properties LP, REIT, 2.45%, 10/01/2033  | 17139000 | &nbsp;&nbsp;&nbsp; 14172455 |
| Boston Properties LP, REIT, 6.5%, 1/15/2034  | 6827000 | &nbsp;&nbsp;&nbsp; 7325502 |
| Boston Properties LP, REIT, 5.75%, 1/15/2035  | 21600000 | &nbsp;&nbsp;&nbsp; 22105078 |
| Vornado Realty LP, 5.75%, 2/01/2033  | 32306000 | &nbsp;&nbsp;&nbsp; 32675314 |
|  |  | &nbsp;&nbsp;&nbsp; $95655609 |
| Real Estate - Other – 0.4% | Real Estate - Other – 0.4% | Real Estate - Other – 0.4% |
| First Industrial LP, 5.25%, 1/15/2031  | $29162000 | &nbsp;&nbsp;&nbsp; $29697487 |
| Real Estate - Retail – 0.5% | Real Estate - Retail – 0.5% | Real Estate - Retail – 0.5% |
| Brixmor Operating Partnership LP, 5.75%, 2/15/2035  | $6674000 | &nbsp;&nbsp;&nbsp; $6985442 |
| STORE Capital Corp., REIT, 4.5%, 3/15/2028  | 16571000 | &nbsp;&nbsp;&nbsp; 16631450 |
| STORE Capital Corp., REIT, 4.625%, 3/15/2029  | 17647000 | &nbsp;&nbsp;&nbsp; 17606412 |
| STORE Capital Corp., REIT, 2.7%, 12/01/2031  | 3000000 | &nbsp;&nbsp;&nbsp; 2655173 |
|  |  | &nbsp;&nbsp;&nbsp; $43878477 |
| Retailers – 1.2% | Retailers – 1.2% | Retailers – 1.2% |
| Alimentation Couche-Tard, Inc., 2.95%, 1/25/2030 (n) | $2180000 | &nbsp;&nbsp;&nbsp; $2070103 |
| Alimentation Couche-Tard, Inc., 5.267%, 2/12/2034 (n) | 25000000 | &nbsp;&nbsp;&nbsp; 25474062 |
| AutoNation, Inc., 5.89%, 3/15/2035  | 36027000 | &nbsp;&nbsp;&nbsp; 37436563 |
| Beach Acquisition Bidco LLC, 10% (10% Cash or 10.75% PIK), 7/15/2033 (n) | 28332826 | &nbsp;&nbsp;&nbsp; 31175754 |
|  |  | &nbsp;&nbsp;&nbsp; $96156482 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Specialty Stores – 0.4% | Specialty Stores – 0.4% | Specialty Stores – 0.4% |
| DICK'S Sporting Goods, 3.15%, 1/15/2032  | $17118000 | &nbsp;&nbsp;&nbsp; $15775663 |
| PetSmart LLC / PetSmart Finance Corp., 7.5%, 9/15/2032 (n) | 19526000 | &nbsp;&nbsp;&nbsp; 20023152 |
|  |  | &nbsp;&nbsp;&nbsp; $35798815 |
| Telecommunications - Wireless – 0.6% | Telecommunications - Wireless – 0.6% | Telecommunications - Wireless – 0.6% |
| American Tower Corp., 5.4%, 1/31/2035  | $20000000 | &nbsp;&nbsp;&nbsp; $20553400 |
| Cellnex Finance Co. S.A., 3.875%, 7/07/2041 (n) | 1582000 | &nbsp;&nbsp;&nbsp; 1281024 |
| Rogers Communications, Inc., 4.55%, 3/15/2052  | 2643000 | &nbsp;&nbsp;&nbsp; 2131560 |
| T-Mobile USA, Inc., 2.55%, 2/15/2031  | 6156000 | &nbsp;&nbsp;&nbsp; 5631379 |
| T-Mobile USA, Inc., 4.375%, 4/15/2040  | 9331000 | &nbsp;&nbsp;&nbsp; 8337633 |
| Vodafone Group PLC, 5.625%, 2/10/2053  | 7731000 | &nbsp;&nbsp;&nbsp; 7443663 |
|  |  | &nbsp;&nbsp;&nbsp; $45378659 |
| Tobacco – 0.9% | Tobacco – 0.9% | Tobacco – 0.9% |
| B.A.T. Capital Corp., 3.215%, 9/06/2026  | $1869000 | &nbsp;&nbsp;&nbsp; $1861377 |
| B.A.T. Capital Corp., 6.343%, 8/02/2030  | 1316000 | &nbsp;&nbsp;&nbsp; 1422351 |
| B.A.T. Capital Corp., 4.742%, 3/16/2032  | 16783000 | &nbsp;&nbsp;&nbsp; 16912754 |
| Japan Tobacco, Inc., 5.85%, 6/15/2035 (n) | 19850000 | &nbsp;&nbsp;&nbsp; 21114968 |
| Philip Morris International, Inc., 5.75%, 11/17/2032  | 5581000 | &nbsp;&nbsp;&nbsp; 5953422 |
| Philip Morris International, Inc., 5.375%, 2/15/2033  | 6000000 | &nbsp;&nbsp;&nbsp; 6244468 |
| Philip Morris International, Inc., 5.25%, 2/13/2034  | 16000000 | &nbsp;&nbsp;&nbsp; 16517002 |
|  |  | &nbsp;&nbsp;&nbsp; $70026342 |
| Transportation - Services – 0.4% | Transportation - Services – 0.4% | Transportation - Services – 0.4% |
| Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2026 (n) | $307000 | &nbsp;&nbsp;&nbsp; $306322 |
| Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2029 (n) | 889000 | &nbsp;&nbsp;&nbsp; 739971 |
| Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2031 (n) | 307000 | &nbsp;&nbsp;&nbsp; 216381 |
| Triton International Ltd., 5.15%, 2/15/2033  | 15280000 | &nbsp;&nbsp;&nbsp; 15210024 |
| Yinson Bergenia Production B.V., 8.498%, 1/31/2045 (n) | 11298000 | &nbsp;&nbsp;&nbsp; 12281983 |
|  |  | &nbsp;&nbsp;&nbsp; $28754681 |
| U.S. Treasury Obligations – 27.3% | U.S. Treasury Obligations – 27.3% | U.S. Treasury Obligations – 27.3% |
| U.S. Treasury Bonds, 4%, 11/15/2042  | $63099000 | &nbsp;&nbsp;&nbsp; $57587697 |
| U.S. Treasury Bonds, 3.875%, 5/15/2043  | 11500000 | &nbsp;&nbsp;&nbsp; 10281270 |
| U.S. Treasury Bonds, 4.375%, 8/15/2043  | 141408000 | &nbsp;&nbsp;&nbsp; 134602740 |
| U.S. Treasury Bonds, 4.75%, 11/15/2043  | 198700000 | &nbsp;&nbsp;&nbsp; 197892781 |
| U.S. Treasury Bonds, 4.5%, 2/15/2044  | 253875000 | &nbsp;&nbsp;&nbsp; 244721616 |
| U.S. Treasury Bonds, 4.625%, 11/15/2044  | 20350000 | &nbsp;&nbsp;&nbsp; 19855558 |
| U.S. Treasury Bonds, 2.5%, 2/15/2045 (f) | 7646000 | &nbsp;&nbsp;&nbsp; 5399987 |
| U.S. Treasury Bonds, 4.75%, 2/15/2045  | 157000000 | &nbsp;&nbsp;&nbsp; 155540390 |
| U.S. Treasury Bonds, 4.875%, 8/15/2045  | 114250000 | &nbsp;&nbsp;&nbsp; 114910508 |
| U.S. Treasury Bonds, 2.25%, 8/15/2046  | 11900000 | &nbsp;&nbsp;&nbsp; 7812164 |
| U.S. Treasury Bonds, 2.25%, 2/15/2052  | 162300000 | &nbsp;&nbsp;&nbsp; 98071043 |
| U.S. Treasury Bonds, 4%, 11/15/2052  | 43474000 | &nbsp;&nbsp;&nbsp; 37531987 |
| U.S. Treasury Bonds, 4.125%, 8/15/2053  | 148700000 | &nbsp;&nbsp;&nbsp; 131007023 |
| U.S. Treasury Bonds, 4.75%, 11/15/2053  | 47500000 | &nbsp;&nbsp;&nbsp; 46399707 |
| U.S. Treasury Bonds, 4.25%, 2/15/2054  | 168300000 | &nbsp;&nbsp;&nbsp; 151397683 |
| U.S. Treasury Bonds, 4.5%, 11/15/2054  | 109100000 | &nbsp;&nbsp;&nbsp; 102353699 |
| U.S. Treasury Notes, 2.5%, 3/31/2027 (f) | 153000000 | &nbsp;&nbsp;&nbsp; 151177149 |
| U.S. Treasury Notes, 4.5%, 4/15/2027  | 141400000 | &nbsp;&nbsp;&nbsp; 142968656 |
| U.S. Treasury Notes, 4.125%, 7/31/2028  | 82100000 | &nbsp;&nbsp;&nbsp; 83183976 |
| U.S. Treasury Notes, 4.625%, 4/30/2029  | 176000000 | &nbsp;&nbsp;&nbsp; 181252500 |
| U.S. Treasury Notes, 4.25%, 6/30/2029  | 67600000 | &nbsp;&nbsp;&nbsp; 68870140 |
| U.S. Treasury Notes, 3.875%, 4/30/2030  | 33000000 | &nbsp;&nbsp;&nbsp; 33165000 |
|  |  | &nbsp;&nbsp;&nbsp; $2175983274 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Utilities - Electric Power – 1.5% | Utilities - Electric Power – 1.5% | Utilities - Electric Power – 1.5% |
| Enel Finance International N.V., 7.5%, 10/14/2032 (n) | $34169000 | &nbsp;&nbsp;&nbsp; $39282282 |
| ENGIE Energía Chile S.A., 3.4%, 1/28/2030  | 4000000 | &nbsp;&nbsp;&nbsp; 3791017 |
| Jersey Central Power & Light Co., 2.75%, 3/01/2032 (n) | 359000 | &nbsp;&nbsp;&nbsp; 323941 |
| Jersey Central Power & Light Co., 5.1%, 1/15/2035  | 5768000 | &nbsp;&nbsp;&nbsp; 5843716 |
| Pacific Gas & Electric Co., 5.45%, 6/15/2027  | 6067000 | &nbsp;&nbsp;&nbsp; 6164100 |
| Pacific Gas & Electric Co., 3%, 6/15/2028  | 823000 | &nbsp;&nbsp;&nbsp; 800820 |
| Pacific Gas & Electric Co., 6.4%, 6/15/2033  | 4021000 | &nbsp;&nbsp;&nbsp; 4332899 |
| Pacific Gas & Electric Co., 6.95%, 3/15/2034  | 9500000 | &nbsp;&nbsp;&nbsp; 10529861 |
| Pacific Gas & Electric Co., 3.5%, 8/01/2050  | 3017000 | &nbsp;&nbsp;&nbsp; 2040986 |
| Saavi Energia S.à r.l., 8.875%, 2/10/2035 (n) | 15538000 | &nbsp;&nbsp;&nbsp; 16822216 |
| XPLR Infrastructure Operating Partners LP, 4.5%, 9/15/2027 (n) | 10000000 | &nbsp;&nbsp;&nbsp; 9909075 |
| XPLR Infrastructure Operating Partners LP, 7.25%, 1/15/2029 (n) | 19050000 | &nbsp;&nbsp;&nbsp; 19657390 |
|  |  | &nbsp;&nbsp;&nbsp; $119498303 |
| Utilities - Gas – 0.3% | Utilities - Gas – 0.3% | Utilities - Gas – 0.3% |
| APA Infrastructure Ltd., 5.125%, 9/16/2034 (n)  | $19996000 | &nbsp;&nbsp;&nbsp; $20040168 |
| **Total Bonds**  |  | &nbsp;&nbsp; **$7885110734** |
| Mutual Funds (h) – 1.7%  | Mutual Funds (h) – 1.7%  | Mutual Funds (h) – 1.7%  |
| Money Market Funds – 1.7% | Money Market Funds – 1.7% |  |
| MFS Institutional Money Market Portfolio, 3.73% (v)  | 136196463 | &nbsp;&nbsp;&nbsp; $136223702 |
| Other Assets, Less Liabilities – (0.5)% |  | &nbsp;&nbsp;&nbsp; (38563831)<br>|
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$7982770605** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(d) In default.

&nbsp;&nbsp;&nbsp;&nbsp;(f) All or a portion of the security has been segregated as collateral for open futures
 contracts.

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $136,223,702 and $7,885,110,734, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Interest only security for which the fund receives interest on notional principal
 (Par amount). Par amount shown is the notional principal and does not reflect the cost of the security.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Securities exempt from registration under Rule 144A of the Securities Act of 1933.
 These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers.
 At period end, the aggregate value of these securities was $3,467,143,260, representing 43.4% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(p) Payment-in-kind (PIK) security for which interest income may be received in additional
 securities and/or cash.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

&nbsp;&nbsp;&nbsp;&nbsp;(w) When-issued security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| The following abbreviations are used in this report and are defined: | The following abbreviations are used in this report and are defined: |
| AAC | Ambac Assurance Corp. |
| AGM | Assured Guaranty Municipal |
| BAM | Build America Mutual |
| CDO | Collateralized Debt Obligation |
| CLO | Collateralized Loan Obligation |
| CMT | Constant Maturity Treasury  |
| FLR | Floating Rate. Interest rate resets periodically based on the parenthetically disclosed reference rate plus a spread (if any). The period-end rate <br> reported may not be the current rate. All reference rates are USD unless otherwise noted.<br>|
| ICE | Intercontinental Exchange |
| NPFG | National Public Finance Guarantee Corp. |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate |
| Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise <br> indicated. A list of abbreviations is shown below: | Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise <br> indicated. A list of abbreviations is shown below: |
| EUR | Euro |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

*Portfolio of Investments (unaudited) – continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Derivative Contracts at 1/31/26** | **Derivative Contracts at 1/31/26** | **Derivative Contracts at 1/31/26** | **Derivative Contracts at 1/31/26** | **Derivative Contracts at 1/31/26** | **Derivative Contracts at 1/31/26** | **Derivative Contracts at 1/31/26** |
| **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  |
| **Currency** <br>**Purchased** | **Currency** <br>**Purchased** | &nbsp;&nbsp; **Currency** <br>**Sold** | &nbsp;&nbsp; **Currency** <br>**Sold** | **Counterparty** | &nbsp;&nbsp; **Settlement** <br>**Date**<br>| **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| USD | &nbsp;&nbsp; 10059261 | EUR | &nbsp;&nbsp; 8597343 | Barclays Bank PLC | 4/17/2026 | &nbsp;&nbsp; $(167421)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Futures Contracts**  | **Futures Contracts**  | **Futures Contracts**  | **Futures Contracts**  | **Futures Contracts**  | **Futures Contracts**  | **Futures Contracts**  |
| **Description** | **Long/** <br>**Short**<br>| **Currency** | **Contracts** | &nbsp;&nbsp; **Notional** <br>**Amount**<br>| &nbsp;&nbsp; **Expiration** <br>**Date**<br>| **Value/Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** |
| ***Interest Rate Futures***  | ***Interest Rate Futures***  | ***Interest Rate Futures***  | ***Interest Rate Futures***  | ***Interest Rate Futures***  |  |  |
| U.S. Treasury Ultra Note 10 yr | &nbsp;&nbsp; Short | &nbsp;&nbsp; USD | &nbsp;&nbsp; 518 | $59132938 | March – 2026 | &nbsp;&nbsp; $959181 |
| **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| ***Interest Rate Futures***  | ***Interest Rate Futures***  | ***Interest Rate Futures***  | ***Interest Rate Futures***  | ***Interest Rate Futures***  |  |  |
| U.S. Treasury Note 2 yr | &nbsp;&nbsp; Long | &nbsp;&nbsp; USD | &nbsp;&nbsp; 3993 | $832509307 | March – 2026 | &nbsp;&nbsp; $(1799693)<br>|
| U.S. Treasury Note 5 yr | &nbsp;&nbsp; Long | &nbsp;&nbsp; USD | &nbsp;&nbsp; 3837 | 417963213 | March – 2026 | &nbsp;&nbsp; (2494192)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp; $(4293885)<br>|

---

At January 31, 2026, the fund had liquid securities collateral with an aggregate value of $9,424,479 to cover any collateral or margin obligations for certain derivative contracts.

See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.

------

**Supplemental Information**

1/31/26 (unaudited)

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial

Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(1) Investment Valuations**

Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, debt instruments and floating rate loans, including restricted debt instruments, are

generally valued at an evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at

issuance of 60 days or less may be valued at amortized cost, which approximates market value. Futures contracts are generally valued at last posted settlement price on their primary exchange as provided by a third-party pricing service. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation on their primary exchange as provided by a

third-party pricing service. Forward foreign currency exchange contracts are generally valued at the mean of bid and asked prices for the

time period interpolated from rates provided by a third-party pricing service for proximate time periods. Open-end investment companies are

generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. Pricing services generally value debt instruments assuming orderly transactions of institutional round lot sizes, but a fund may hold or transact in such securities in smaller, odd lot sizes. In instances where a fund holds an odd lot size position in a debt instrument, such position will typically be valued using the pricing agent's institutional round lot price for the debt instrument. Odd lots may trade at lower prices than institutional round lots, and the fund may receive different prices when it sells odd lot positions than it would receive for sales of institutional round lot positions. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net

asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk).

------

*Supplemental Information (unaudited) – continued*

Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. Other financial instruments are derivative instruments, such as futures contracts and forward foreign currency exchange contracts. The following is a summary of the levels used as of January 31, 2026 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| U.S. Treasury Bonds & U.S. Government Agencies & Equivalents | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $2175983274 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $2175983274 |
| Non - U.S. Sovereign Debt | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 236264221 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 236264221 |
| Municipal Bonds | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 75711485 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 75711485 |
| U.S. Corporate Bonds | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2243648924 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2243648924 |
| Residential Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 398817525 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 398817525 |
| Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 332940278 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 332940278 |
| Asset-Backed Securities (including CDOs) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1395886647 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1395886647 |
| Foreign Bonds | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1025858380 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1025858380 |
| Investment Companies | &nbsp;&nbsp;&nbsp; 136223702 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 136223702 |
| Total | &nbsp;&nbsp;&nbsp; $136223702 | &nbsp;&nbsp;&nbsp; $7885110734 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $8021334436 |
| **Other Financial Instruments** |  |  |  |  |
| Futures Contracts – Assets | &nbsp;&nbsp;&nbsp; $959181 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $959181 |
| Futures Contracts – Liabilities | &nbsp;&nbsp;&nbsp; (4293885)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (4293885)<br>|
| Forward Foreign Currency Exchange Contracts – Liabilities | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (167421)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (167421)<br>|

---

For further information regarding security characteristics, see the Portfolio of Investments.

**(2) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. The following were affiliated issuers for the period ended January 31, 2026:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | **Beginning** <br>**Value**<br>| **Purchases** | **Sales** <br>**Proceeds**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation or** <br>**Depreciation**<br>| **Ending** <br>**Value**<br>|
| MFS Institutional Money Market Portfolio  | &nbsp;&nbsp; $111284754 | &nbsp;&nbsp; $508168897 | &nbsp;&nbsp; $483233513 | &nbsp;&nbsp; $1266 | &nbsp;&nbsp; $2298 | &nbsp;&nbsp; $136223702<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio  | &nbsp;&nbsp; $1179797 | &nbsp;&nbsp; $— |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** MFS Series Trust VIII

- **b. Investment Company Act file number:** 811-05262

- **c. CIK number of Registrant:** 0000819673

- **d. LEI of Registrant:** 549300ZKMTEJERBQYC98

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

  - **Street Address 1:** 111 Huntington Avenue

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

  - **Telephone number:** 617-954-5000

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

- **a. Name of Series:** MFS Income Fund

- **b. EDGAR series identifier (if any):** S000002491

- **c. LEI of Series:** 549300CMHH5VFQUEB049

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-31

**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:** $8079226424.70

**Total Liabilities:** $96432626.73

**Net Assets:** $7982793797.97

**Delayed Delivery Securities:** $62058996.00

**Cash Not Reported:** $10977812.14

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -9140.24119620 | **1-Year:** -185661.15883490 | **5-Year:** -747074.62720590 | **10-Year:** -810703.86655440 | **30-Year:** -77082.73206390

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

- **3-Month:** -4583.19225700 | **1-Year:** -134479.30581140 | **5-Year:** -280179.25544740 | **10-Year:** -92627.78904460 | **30-Year:** -10137.21587710

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000200511 | 0.58%                | -0.25%               | 0.41%                |
| Class ID C000006709 | 0.49%                | -0.35%               | 0.32%                |
| Class ID C000006707 | 0.55%                | -0.12%               | 0.22%                |
| Class ID C000006710 | 0.57%                | -0.26%               | 0.40%                |
| Class ID C000006708 | 0.65%                | -0.35%               | 0.15%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $229136.36               | $12011578.08                               |
| Month 2  | $-409814.74              | $-47407728.27                              |
| Month 3  | $-2688795.17             | $-4910416.55                               |

**Designated Index Information**

- **Index Name:** BBG Barc US Aggregate Index

- **Index Identifier:** LBSTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| KREF Ltd.                                                                 | KREF Ltd., Series 2021-FL2, Class D                                              | CUSIP: 48275RAJ6<br>LEI: 54930083ELM2GCMVTQ91 | Long             | ABS-CBDO         | CORP              | KY        |   1837000 | PA      | $1804865.36   | 0.02%             | 2039-02-15      | Floating      | 5.99%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                         | Wells Fargo & Co.                                                                | CUSIP: 95000U2U6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  26071000 | PA      | $24309484.47  | 0.30%             | 2033-03-02      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                                            | Enbridge, Inc.                                                                   | CUSIP: 29250NBR5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   4620000 | PA      | $4844595.89   | 0.06%             | 2033-03-08      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Vornado Realty LP                                                         | Vornado Realty LP                                                                | CUSIP: 929043AN7<br>LEI: 549300BMOJ05INE4YK86 | Long             | DBT              | CORP              | US        |  32306000 | PA      | $32675314.12  | 0.41%             | 2033-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                       | New Residential Mortgage Loan Trust, Series 2024-NQM1, Class A1                  | CUSIP: 64828DAA5<br>LEI: 213800TFYSB4XLW7QW74 | Long             | ABS-MBS          | CORP              | US        |  16771758 | PA      | $16953007.07  | 0.21%             | 2064-03-25      | Variable      | 6.13%                 | Yes           |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                                                     | ARI Fleet Lease Trust, Series 2026-A, Class A2                                   | CUSIP: 04033DAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5359000 | PA      | $5363118.39   | 0.07%             | 2034-11-15      | Fixed         | 3.96%                 | Yes           |                  2 | On Loan: No      |
| Consumers 2023 Securitization Funding LLC                                 | Consumers 2023 Securitization Funding LLC, Series A1                             | CUSIP: 21071BAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3984878 | PA      | $4021218.30   | 0.05%             | 2028-03-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810TS7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11500000 | PA      | $10281269.56  | 0.13%             | 2043-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MF1 LLC                                                                   | MF1 LLC, Series 2024-FL14, Class B                                               | CUSIP: 55416AAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   8208757 | PA      | $8224427.52   | 0.10%             | 2039-03-19      | Floating      | 6.36%                 | Yes           |                  2 | On Loan: No      |
| Northwoods Capital XIV-B Ltd.                                             | Northwoods Capital XIV-B Ltd., Series 2018-14BA, Class BR                        | CUSIP: 66860CAN3<br>LEI: 549300QQDSTCZ860F679 | Long             | ABS-CBDO         | CORP              | KY        |  31844327 | PA      | $31863274.37  | 0.40%             | 2031-11-13      | Floating      | 5.69%                 | Yes           |                  2 | On Loan: No      |
| LLC                                                                       | LLC, Series 2025-FL17, Class C                                                   | CUSIP: 55287HAG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  23122222 | PA      | $23134823.61  | 0.29%             | 2040-02-18      | Floating      | 5.77%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.                            | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class C         | CUSIP: 03880RAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1124000 | PA      | $1124101.72   | 0.01%             | 2036-11-15      | Floating      | 6.09%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810TL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  43474000 | PA      | $37531987.16  | 0.47%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Adventist Health System                                                   | Adventist Health System                                                          | CUSIP: 007944AH4<br>LEI: 5493008YM33UCY5QPW83 | Long             | DBT              | CORP              | US        |   5185000 | PA      | $5306793.58   | 0.07%             | 2032-03-01      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| PMT Loan Trust                                                            | PMT Loan Trust, Series 2025-INV4, Class A9                                       | CUSIP: 73015DAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  19377162 | PA      | $19476744.64  | 0.24%             | 2056-03-25      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Bank AG                                                          | Deutsche Bank AG                                                                 | CUSIP: 251526CP2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   2217000 | PA      | $2185748.24   | 0.03%             | 2027-11-16      | Variable      | 2.31%                 | No            |                  2 | On Loan: No      |
| KKR Static CLO I Ltd.                                                     | KKR Static CLO I Ltd., Series 2022-1A, Class CR2                                 | CUSIP: 48255QAY9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  17500000 | PA      | $17355135.00  | 0.22%             | 2031-07-20      | Floating      | 5.27%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Multifamily Structured Pass-Through Certificates, Series K114, Class X1    | CUSIP: 3137FVNJ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  31689209 | PA      | $1305481.34   | 0.02%             | 2030-06-25      | Variable      | 1.11%                 | No            |                  2 | On Loan: No      |
| Vodafone Group plc                                                        | Vodafone Group plc                                                               | CUSIP: 92857WBY5<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |   7731000 | PA      | $7443663.01   | 0.09%             | 2053-02-10      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                              | Avolon Holdings Funding Ltd.                                                     | CUSIP: 05401AAJ0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   2342000 | PA      | $2319369.72   | 0.03%             | 2027-02-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                         | Wells Fargo & Co.                                                                | CUSIP: 95000U3E1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   3333000 | PA      | $3448665.10   | 0.04%             | 2029-07-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                              | CUSIP: 91282CMZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  33000000 | PA      | $33165000.00  | 0.42%             | 2030-04-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| JH North America Holdings, Inc.                                           | JH North America Holdings, Inc.                                                  | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |  16455000 | PA      | $16766213.42  | 0.21%             | 2032-07-31      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                      | Charter Communications Operating LLC                                             | CUSIP: 161175BA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9411792.60   | 0.12%             | 2045-10-23      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| MF1 LLC                                                                   | MF1 LLC, Series 2024-FL14, Class D                                               | CUSIP: 55416AAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6500000 | PA      | $6512506.00   | 0.08%             | 2039-03-19      | Floating      | 8.51%                 | Yes           |                  2 | On Loan: No      |
| Macquarie Group Ltd.                                                      | Macquarie Group Ltd.                                                             | CUSIP: 55608JBE7<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | DBT              | CORP              | AU        |   8358000 | PA      | $8218734.83   | 0.10%             | 2033-06-21      | Variable      | 4.44%                 | Yes           |                  2 | On Loan: No      |
| Virginia Power Fuel Securitization LLC                                    | Virginia Power Fuel Securitization LLC, Series A-1                               | CUSIP: 92808VAA0<br>LEI: 254900BELJ95ONW6U791 | Long             | DBT              | CORP              | US        |   2982067 | PA      | $2999925.10   | 0.04%             | 2027-05-01      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                              | Pacific Gas and Electric Co.                                                     | CUSIP: 694308KM8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   4021000 | PA      | $4332899.04   | 0.05%             | 2033-06-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Alimentation Couche-Tard, Inc.                                            | Alimentation Couche-Tard, Inc.                                                   | CUSIP: 01626PAU0<br>LEI: 549300OSW32RVX8CCZ87 | Long             | DBT              | CORP              | CA        |  25000000 | PA      | $25474061.50  | 0.32%             | 2034-02-12      | Fixed         | 5.27%                 | Yes           |                  2 | On Loan: No      |
| OCP SA                                                                    | OCP SA                                                                           | CUSIP: 67091TAF2<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | NUSS              | MA        |  11687000 | PA      | $12506747.45  | 0.16%             | 2034-05-02      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Oracle Corp.                                                              | Oracle Corp.                                                                     | CUSIP: 68389XDM4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   9669000 | PA      | $9214515.52   | 0.12%             | 2035-09-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| PFP Ltd.                                                                  | PFP Ltd., Series 2026-13, Class B                                                | CUSIP: 716966AE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6513500 | PA      | $6539875.77   | 0.08%             | 2043-08-18      | Floating      | 5.60%                 | Yes           |                  2 | On Loan: No      |
| AREIT LLC                                                                 | AREIT LLC, Series 2022-CRE7, Class B                                             | CUSIP: 00217VAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6000000 | PA      | $6001884.00   | 0.08%             | 2039-06-17      | Floating      | 6.92%                 | Yes           |                  2 | On Loan: No      |
| Alimentation Couche-Tard, Inc.                                            | Alimentation Couche-Tard, Inc.                                                   | CUSIP: 01626PAM8<br>LEI: 549300OSW32RVX8CCZ87 | Long             | DBT              | CORP              | CA        |   2180000 | PA      | $2070102.65   | 0.03%             | 2030-01-25      | Fixed         | 2.95%                 | Yes           |                  2 | On Loan: No      |
| Marriott International, Inc.                                              | Marriott International, Inc., Series II                                          | CUSIP: 571903BH5<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |   4537000 | PA      | $3962032.57   | 0.05%             | 2033-10-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Dryden 113 CLO Ltd.                                                       | Dryden 113 CLO Ltd., Series 2022-113A, Class BR3                                 | CUSIP: 26253EBM9<br>LEI: 254900XN9Y85HJGYJ219 | Long             | ABS-CBDO         | CORP              | JE        |   7250000 | PA      | $7260686.50   | 0.09%             | 2037-10-15      | Floating      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Santos Finance Ltd.                                                       | Santos Finance Ltd.                                                              | CUSIP: 803014AB5<br>LEI: 213800BKUBSWG53XNS94 | Long             | DBT              | CORP              | AU        |  34136000 | PA      | $37395544.23  | 0.47%             | 2033-09-19      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                         | Philip Morris International, Inc.                                                | CUSIP: 718172DB2<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6244468.44   | 0.08%             | 2033-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Nippon Life Insurance Co.                                                 | Nippon Life Insurance Co.                                                        | CUSIP: 654579AP6<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |   9681000 | PA      | $10357653.50  | 0.13%             | 2055-04-30      | Variable      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Dryden 49 Senior Loan Fund                                                | Dryden 49 Senior Loan Fund, Series 2017-49A, Class CR                            | CUSIP: 26244QAS2<br>LEI: 549300VCB8LYR1RGV869 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2007076.00   | 0.03%             | 2030-07-18      | Floating      | 5.98%                 | Yes           |                  2 | On Loan: No      |
| MetLife, Inc.                                                             | MetLife, Inc.                                                                    | CUSIP: 59156RCE6<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10487863.90  | 0.13%             | 2033-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Regions Financial Corp.                                                   | Regions Financial Corp.                                                          | CUSIP: 7591EPAV2<br>LEI: CW05CS5KW59QTC0DG824 | Long             | DBT              | CORP              | US        |  26000000 | PA      | $26711820.72  | 0.33%             | 2035-09-06      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Yinson Bergenia Production BV                                             | Yinson Bergenia Production BV                                                    | CUSIP: 98585VAA6<br>LEI: 549300JDIAWKPMZD5256 | Long             | DBT              | CORP              | NL        |  11298000 | PA      | $12281982.93  | 0.15%             | 2045-01-31      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| MFS Institutional Money Market Portfolio                                  | MFS Institutional Money Market Portfolio, Class A                                | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | STIV             | RF                | US        | 135760501 | NS      | $135787653.51 | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Six Flags Entertainment Corp.                                             | Six Flags Entertainment Corp.                                                    | CUSIP: 83002YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  23410000 | PA      | $23921344.63  | 0.30%             | 2032-05-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Bank AG                                                          | Deutsche Bank AG                                                                 | CUSIP: 251526CS6<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   8912000 | PA      | $9335098.72   | 0.12%             | 2029-01-18      | Variable      | 6.72%                 | No            |                  2 | On Loan: No      |
| Northern Star Resources Ltd.                                              | Northern Star Resources Ltd.                                                     | CUSIP: 66573RAA6<br>LEI: 254900XFXCRYYZAX6M78 | Long             | DBT              | CORP              | AU        |  25176000 | PA      | $26549912.98  | 0.33%             | 2033-04-11      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                                    | HUB International Ltd.                                                           | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   5850000 | PA      | $5843866.28   | 0.07%             | 2029-12-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Nomura Holdings, Inc.                                                     | Nomura Holdings, Inc.                                                            | CUSIP: 65535HCC1<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |  27383000 | PA      | $28448582.06  | 0.36%             | 2030-07-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| MF1 LLC                                                                   | MF1 LLC, Series 2025-FL20, Class B                                               | CUSIP: 59319CAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5000000 | PA      | $5012509.50   | 0.06%             | 2043-02-18      | Floating      | 5.63%                 | Yes           |                  2 | On Loan: No      |
| Voya CLO Ltd.                                                             | Voya CLO Ltd., Series 2016-1A, Class BR                                          | CUSIP: 92915CAU8<br>LEI: 549300BRUAMTEA33B077 | Long             | ABS-CBDO         | CORP              | KY        |   2910000 | PA      | $2920158.81   | 0.04%             | 2031-01-20      | Floating      | 5.73%                 | Yes           |                  2 | On Loan: No      |
| Provident Funding Mortgage Trust                                          | Provident Funding Mortgage Trust, Series 2025-5, Class A4                        | CUSIP: 74388RAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  35896847 | PA      | $36005341.14  | 0.45%             | 2055-11-25      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                                              | UBS Group AG                                                                     | CUSIP: 902613AS7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   3165000 | PA      | $3174899.33   | 0.04%             | 2027-08-05      | Variable      | 4.70%                 | Yes           |                  2 | On Loan: No      |
| Oklahoma Development Finance Authority                                    | Oklahoma Development Finance Authority                                           | CUSIP: 67884XCP0<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |   8308000 | PA      | $8254246.41   | 0.10%             | 2028-08-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Boston Properties LP                                                      | Boston Properties LP                                                             | CUSIP: 10112RBF0<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |  17139000 | PA      | $14172455.39  | 0.18%             | 2033-10-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                                         | BAT Capital Corp.                                                                | CUSIP: 054989AA6<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   1316000 | PA      | $1422350.84   | 0.02%             | 2030-08-02      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Targa Resources Corp.                                                     | Targa Resources Corp.                                                            | CUSIP: 87612GAB7<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   5521000 | PA      | $4713908.09   | 0.06%             | 2052-04-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Boston Properties LP                                                      | Boston Properties LP                                                             | CUSIP: 10112RBH6<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |   6827000 | PA      | $7325501.67   | 0.09%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LoanCore Issuer Ltd.                                                      | LoanCore Issuer Ltd., Series 2021-CRE5, Class C                                  | CUSIP: 53947XAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2993604.00   | 0.04%             | 2036-07-15      | Floating      | 6.14%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.                            | Arbor Realty Commercial Real Estate Notes Ltd., Series 2022-FL1, Class B         | CUSIP: 03880XAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5083500 | PA      | $5095390.31   | 0.06%             | 2037-01-15      | Floating      | 5.81%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.                            | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class AS        | CUSIP: 03880RAC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6312000 | PA      | $6312026.51   | 0.08%             | 2036-11-15      | Floating      | 5.49%                 | Yes           |                  2 | On Loan: No      |
| Taco Bell Funding LLC                                                     | Taco Bell Funding LLC, Series 2025-1A, Class A2I                                 | CUSIP: 87342RAK0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  22462602 | PA      | $22349060.29  | 0.28%             | 2055-08-25      | Fixed         | 4.82%                 | Yes           |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                                              | BX Commercial Mortgage Trust, Series 2025-BCAT, Class A                          | CUSIP: 12433HAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12266046 | PA      | $12281378.47  | 0.15%             | 2042-08-15      | Floating      | 5.06%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                       | NEW Residential Mortgage Loan Trust, Series 2025-NQM2, Class A1                  | CUSIP: 64831XAC2<br>LEI: 2138006ZAYPD4ZHQYX81 | Long             | ABS-MBS          | CORP              | US        |   9809676 | PA      | $9946590.33   | 0.12%             | 2065-04-25      | Variable      | 5.57%                 | Yes           |                  2 | On Loan: No      |
| Octagon 57 Ltd.                                                           | Octagon 57 Ltd., Series 2021-1A, Class CR                                        | CUSIP: 67592XAS9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  15000000 | PA      | $15008205.00  | 0.19%             | 2034-10-15      | Floating      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                                         | HSBC Holdings plc                                                                | CUSIP: 404280CP2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    536000 | PA      | $535375.56    | 0.01%             | 2026-03-09      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| ELM Trust                                                                 | ELM Trust, Series 2024-ELM, Class C15                                            | CUSIP: 26860XAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    900000 | PA      | $905264.82    | 0.01%             | 2039-06-10      | Variable      | 6.40%                 | Yes           |                  2 | On Loan: No      |
| Muthoot Finance Ltd.                                                      | Muthoot Finance Ltd.                                                             | CUSIP: 62828L2C6<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | CORP              | IN        |  16211000 | PA      | $16603923.84  | 0.21%             | 2028-02-14      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| CBRE Services, Inc.                                                       | CBRE Services, Inc.                                                              | CUSIP: 12505BAJ9<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |   9970000 | PA      | $10113560.22  | 0.13%             | 2030-06-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets plc                                                    | BP Capital Markets plc                                                           | CUSIP: 05565QDW5<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |  10000000 | PA      | $10613850.00  | 0.13%             | 2033-12-01      | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| Republic of Serbia                                                        | Republic of Serbia                                                               | CUSIP: 817477AJ1<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |   9377000 | PA      | $9726018.60   | 0.12%             | 2034-06-12      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                                                   | Quikrete Holdings, Inc.                                                          | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |  24193000 | PA      | $25090357.80  | 0.31%             | 2032-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                                                | Charles Schwab Corp. (The)                                                       | CUSIP: 808513CL7<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  29485000 | PA      | $29223755.23  | 0.37%             | 2036-11-14      | Variable      | 4.91%                 | No            |                  2 | On Loan: No      |
| Macquarie Group Ltd.                                                      | Macquarie Group Ltd.                                                             | CUSIP: 55608JBQ0<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | DBT              | CORP              | AU        |  17190000 | PA      | $18675782.41  | 0.23%             | 2034-12-07      | Variable      | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                                     | Toll Road Investors Partnership II LP                                            | CUSIP: 88948ABG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    307000 | PA      | $216381.59    | 0.00%             | 2031-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| CBRE Services, Inc.                                                       | CBRE Services, Inc.                                                              | CUSIP: 12505BAG5<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |  26397000 | PA      | $28093382.09  | 0.35%             | 2034-08-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                     | United Mexican States                                                            | CUSIP: 91087BBC3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |  13848000 | PA      | $14640798.00  | 0.18%             | 2037-05-13      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                           | Citigroup, Inc., Series GG                                                       | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  33948000 | PA      | $34679791.24  | 0.43%             | 2030-08-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| MF1 LLC                                                                   | MF1 LLC, Series 2025-FL20, Class C                                               | CUSIP: 59319CAG0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  31215564 | PA      | $31293618.52  | 0.39%             | 2043-02-18      | Floating      | 5.83%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.                            | Arbor Realty Commercial Real Estate Notes Ltd., Series 2022-FL1, Class C         | CUSIP: 03880XAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  13183500 | PA      | $13199985.97  | 0.17%             | 2037-01-15      | Floating      | 6.01%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                            | Morgan Stanley Residential Mortgage Loan Trust, Series 2026-NQM1, Class A1       | CUSIP: 61780XAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3683691 | PA      | $3684095.47   | 0.05%             | 2070-12-25      | Variable      | 4.81%                 | Yes           |                  2 | On Loan: No      |
| Chemours Co. (The)                                                        | Chemours Co. (The)                                                               | CUSIP: 163851AJ7<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |   9940000 | PA      | $9966181.56   | 0.12%             | 2033-01-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                                  | Venture Global LNG, Inc.                                                         | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |  34335000 | PA      | $34547739.66  | 0.43%             | 2030-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Triton Container International Ltd.                                       | Triton Container International Ltd.                                              | CUSIP: 89681LAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  15280000 | PA      | $15210023.71  | 0.19%             | 2033-02-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                              | Pacific Gas and Electric Co.                                                     | CUSIP: 694308JW8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    823000 | PA      | $800820.44    | 0.01%             | 2028-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                            | Morgan Stanley                                                                   | CUSIP: 61747YFM2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15696843.30  | 0.20%             | 2039-02-07      | Variable      | 5.94%                 | No            |                  2 | On Loan: No      |
| Samarco Mineracao SA                                                      | Samarco Mineracao SA                                                             | CUSIP: 79588YAA7<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |  13461139 | PA      | $13513879.74  | 0.17%             | 2031-06-30      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Boston Gas Co.                                                            | Boston Gas Co.                                                                   | CUSIP: 100743AM5<br>LEI: FN7P4E7K9JOBORDEUX61 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4739870.00   | 0.06%             | 2032-03-16      | Fixed         | 3.76%                 | Yes           |                  2 | On Loan: No      |
| Boston Properties LP                                                      | Boston Properties LP                                                             | CUSIP: 10112RBC7<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9390525.90   | 0.12%             | 2030-03-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| AutoNation, Inc.                                                          | AutoNation, Inc.                                                                 | CUSIP: 05329WAT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  36027000 | PA      | $37436563.22  | 0.47%             | 2035-03-15      | Fixed         | 5.89%                 | No            |                  2 | On Loan: No      |
| BMP                                                                       | BMP, Series 2024-MF23, Class C                                                   | CUSIP: 05593JAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  19501672 | PA      | $19538237.64  | 0.24%             | 2041-06-15      | Floating      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                | Occidental Petroleum Corp.                                                       | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |  14500000 | PA      | $15590820.50  | 0.20%             | 2030-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| OZLM XXI Ltd.                                                             | OZLM XXI Ltd., Series 2017-21A, Class BR                                         | CUSIP: 67112AAN1<br>LEI: 5493002HF6D1C4B1AK86 | Long             | ABS-CBDO         | CORP              | KY        |  27500000 | PA      | $27540535.00  | 0.34%             | 2031-01-20      | Floating      | 5.57%                 | Yes           |                  2 | On Loan: No      |
| Eldorado Gold Corp.                                                       | Eldorado Gold Corp.                                                              | CUSIP: 284902AF0<br>LEI: 5493004PWQ01YDD1IH62 | Long             | DBT              | CORP              | CA        |   3500000 | PA      | $3517510.50   | 0.04%             | 2029-09-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                  | Benchmark Mortgage Trust, Series 2019-B13, Class A4                              | CUSIP: 08162DAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $4756956.00   | 0.06%             | 2057-08-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| JBS NV                                                                    | JBS NV                                                                           | CUSIP: 46590XAY2<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |  16415000 | PA      | $17130037.40  | 0.21%             | 2033-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Panther Escrow Issuer LLC                                                 | Panther Escrow Issuer LLC                                                        | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  23572000 | PA      | $24277415.67  | 0.30%             | 2031-06-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| PetSmart LLC                                                              | PetSmart LLC                                                                     | CUSIP: 71677KAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19526000 | PA      | $20023151.49  | 0.25%             | 2032-09-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Empire District Bondco LLC                                                | Empire District Bondco LLC, Series A-1                                           | CUSIP: 291918AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6944977 | PA      | $7047585.89   | 0.09%             | 2033-01-01      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| Bombardier, Inc.                                                          | Bombardier, Inc.                                                                 | CUSIP: 097751BZ3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |  20000000 | PA      | $20775377.60  | 0.26%             | 2029-02-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Affirm Master Trust                                                       | Affirm Master Trust, Series 2025-2A, Class A                                     | CUSIP: 00833BAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  14094595 | PA      | $14194504.54  | 0.18%             | 2033-07-15      | Fixed         | 4.67%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                                      | Republic of Colombia                                                             | CUSIP: 195325EV3<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  16091000 | PA      | $15937330.95  | 0.20%             | 2033-01-21      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Dwight Issuer LLC                                                         | Dwight Issuer LLC, Series 2025-FL1, Class AS                                     | CUSIP: 233636AC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  20811500 | PA      | $20883049.94  | 0.26%             | 2042-06-18      | Floating      | 5.96%                 | Yes           |                  2 | On Loan: No      |
| Acrec 2025 Fl LLC                                                         | Acrec 2025 Fl LLC, Series 2025-FL3, Class C                                      | CUSIP: 00112HAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   9459627 | PA      | $9430907.57   | 0.12%             | 2042-08-18      | Floating      | 5.97%                 | Yes           |                  2 | On Loan: No      |
| Village of Bridgeview IL                                                  | Village of Bridgeview                                                            | CUSIP: 108555GG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1127396.19   | 0.01%             | 2036-12-01      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                               | Capital One Financial Corp.                                                      | CUSIP: 14040HDC6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   5078000 | PA      | $5700163.21   | 0.07%             | 2031-10-30      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| BDS LLC                                                                   | BDS LLC, Series 2025-FL14, Class C                                               | CUSIP: 072921AL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  20000000 | PA      | $19903349.40  | 0.25%             | 2042-10-17      | Floating      | 5.57%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810TZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 253875000 | PA      | $244721615.58 | 3.07%             | 2044-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Snap, Inc.                                                                | Snap, Inc.                                                                       | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |  26291000 | PA      | $26978641.11  | 0.34%             | 2033-03-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Provident Funding Mortgage Trust                                          | Provident Funding Mortgage Trust, Series 2025-2, Class A4                        | CUSIP: 74389DAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  21392281 | PA      | $21548024.96  | 0.27%             | 2055-06-25      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| MF1                                                                       | MF1, Series 2024-FL16, Class B                                                   | CUSIP: 55287EAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  14900000 | PA      | $14974507.45  | 0.19%             | 2039-11-18      | Floating      | 5.82%                 | Yes           |                  2 | On Loan: No      |
| OBX Trust                                                                 | OBX Trust, Series 2024-NQM2, Class A1                                            | CUSIP: 67118HAA8<br>LEI: 254900OHTVKDKZL33I54 | Long             | ABS-MBS          | CORP              | US        |   8920059 | PA      | $8990546.18   | 0.11%             | 2063-12-25      | Variable      | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Japan Tobacco, Inc.                                                       | Japan Tobacco, Inc.                                                              | CUSIP: 471105AE6<br>LEI: 353800Z0ENYBQO0XRJ31 | Long             | DBT              | CORP              | JP        |  19850000 | PA      | $21114968.44  | 0.26%             | 2035-06-15      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                               | Nigeria Government Bond                                                          | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |  16631000 | PA      | $16802323.75  | 0.21%             | 2033-09-28      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| STWD Ltd.                                                                 | STWD Ltd., Series 2021-FL2, Class D                                              | CUSIP: 78486BAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3005136.90   | 0.04%             | 2038-04-18      | Floating      | 6.59%                 | Yes           |                  2 | On Loan: No      |
| Targa Resources Partners LP                                               | Targa Resources Partners LP                                                      | CUSIP: 87612BBU5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9305000 | PA      | $8933302.19   | 0.11%             | 2032-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.                            | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class A         | CUSIP: 03880RAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  21324466 | PA      | $21323612.94  | 0.27%             | 2036-11-15      | Floating      | 5.14%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                     | Bank of America Corp.                                                            | CUSIP: 06055HAK9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15267760.95  | 0.19%             | 2030-07-26      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                              | Pacific Gas and Electric Co.                                                     | CUSIP: 694308KF3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   6067000 | PA      | $6164099.85   | 0.08%             | 2027-06-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Park Avenue Institutional Advisers CLO Ltd.                               | Park Avenue Institutional Advisers CLO Ltd., Series 2019-2A, Class CRR           | CUSIP: 70018ABA7<br>LEI: 529900T8KGS8BIJDM810 | Long             | ABS-CBDO         | CORP              | KY        |  12709220 | PA      | $12722488.43  | 0.16%             | 2034-10-15      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                              | CUSIP: 91282CKP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 176000000 | PA      | $181252500.00 | 2.27%             | 2029-04-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Saavi Energia Sarl                                                        | Saavi Energia Sarl                                                               | CUSIP: 78518PAA3<br>LEI: 254900A2V0IO8K56UH35 | Long             | DBT              | CORP              | LU        |  15538000 | PA      | $16822215.70  | 0.21%             | 2035-02-10      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Regal Rexnord Corp.                                                       | Regal Rexnord Corp.                                                              | CUSIP: 758750AP8<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |  26527000 | PA      | $28347469.22  | 0.36%             | 2033-04-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Romania                                                                   | Romania Government Bond                                                          | CUSIP: 77586RAX8<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |  22360000 | PA      | $23397982.28  | 0.29%             | 2036-05-16      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Business Jet Securities LLC                                               | Business Jet Securities LLC, Series 2024-1A, Class C                             | CUSIP: 12327CAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2052133 | PA      | $2122130.28   | 0.03%             | 2039-05-15      | Fixed         | 9.13%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                  | CUSIP: 74529JQY4<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1326000 | PA      | $1182719.20   | 0.01%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                              | CUSIP: 91282CKX8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  67600000 | PA      | $68870140.46  | 0.86%             | 2029-06-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                                        | LPL Holdings, Inc.                                                               | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   7300000 | PA      | $7199039.76   | 0.09%             | 2029-03-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                  | Angel Oak Mortgage Trust, Series 2024-9, Class A1                                | CUSIP: 03466JAA7<br>LEI: 254900O3R79X1AD55F36 | Long             | ABS-MBS          | CORP              | US        |   7749590 | PA      | $7782439.46   | 0.10%             | 2069-09-25      | Variable      | 5.14%                 | Yes           |                  2 | On Loan: No      |
| Dwight Issuer LLC                                                         | Dwight Issuer LLC, Series 2025-FL1, Class A                                      | CUSIP: 233636AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2138000 | PA      | $2146635.17   | 0.03%             | 2042-06-18      | Floating      | 5.34%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                                              | UBS Group AG                                                                     | CUSIP: 902613AD0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2746000 | PA      | $2507942.67   | 0.03%             | 2031-02-10      | Variable      | 4.38%                 | Yes           |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                                              | BX Commercial Mortgage Trust, Series 2025-BCAT, Class C                          | CUSIP: 12433HAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7263799 | PA      | $7277412.15   | 0.09%             | 2042-08-15      | Floating      | 5.58%                 | Yes           |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                              | American Credit Acceptance Receivables Trust, Series 2024-2, Class C             | CUSIP: 02531BAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8709917 | PA      | $8772702.72   | 0.11%             | 2030-04-12      | Fixed         | 6.24%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                              | CUSIP: 91282CKJ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 141400000 | PA      | $142968656.25 | 1.79%             | 2027-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Marble Point CLO XXII Ltd.                                                | Marble Point CLO XXII Ltd., Series 2021-2A, Class CR                             | CUSIP: 56606GAN4<br>LEI: 549300MZC31PBFF01E87 | Long             | ABS-CBDO         | CORP              | KY        |  11846154 | PA      | $11871635.08  | 0.15%             | 2034-07-25      | Floating      | 5.72%                 | Yes           |                  2 | On Loan: No      |
| Constellation Brands, Inc.                                                | Constellation Brands, Inc.                                                       | CUSIP: 21036PBS6<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |   5870000 | PA      | $5972581.71   | 0.07%             | 2030-05-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                          | Deutsche Bank AG                                                                 | CUSIP: 25160PAN7<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   5752000 | PA      | $5830070.75   | 0.07%             | 2027-07-13      | Variable      | 7.15%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                             | CUSIP: 46647PEH5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  17245000 | PA      | $18260632.38  | 0.23%             | 2035-04-22      | Variable      | 5.77%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                  | New Hampshire Business Finance Authority, Series 2024 A                          | CUSIP: 63610HAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  29895000 | PA      | $31523598.88  | 0.39%             | 2034-04-01      | Fixed         | 6.89%                 | No            |                  2 | On Loan: No      |
| Patrick Industries, Inc.                                                  | Patrick Industries, Inc.                                                         | CUSIP: 703343AD5<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |  24652000 | PA      | $24402699.25  | 0.31%             | 2029-05-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                         | Philip Morris International, Inc.                                                | CUSIP: 718172CX5<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   5581000 | PA      | $5953421.69   | 0.07%             | 2032-11-17      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Escambia County Health Facilities Authority                               | Escambia County Health Facilities Authority                                      | CUSIP: 296110GG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1431058.08   | 0.02%             | 2040-08-15      | Fixed         | 3.61%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO 17 Ltd.                                 | GoldenTree Loan Management US CLO 17 Ltd., Series 2023-17A, Class CR             | CUSIP: 38139FAU4<br>LEI: 549300TS068SCJRDSP12 | Long             | ABS-CBDO         | CORP              | JE        |   1650000 | PA      | $1652301.75   | 0.02%             | 2039-01-20      | Floating      | 5.47%                 | Yes           |                  2 | On Loan: No      |
| nVent Finance SARL                                                        | nVent Finance SARL                                                               | CUSIP: 67078AAF0<br>LEI: 549300KO1OQ4MVFB6X02 | Long             | DBT              | CORP              | LU        |   9324000 | PA      | $9722365.85   | 0.12%             | 2033-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| OBX Trust                                                                 | OBX Trust, Series 2024-NQM3, Class A1                                            | CUSIP: 67118KAA1<br>LEI: 2549001QDCO9VU0HH514 | Long             | ABS-MBS          | CORP              | US        |   4286432 | PA      | $4334073.59   | 0.05%             | 2063-12-25      | Variable      | 6.13%                 | Yes           |                  2 | On Loan: No      |
| MF1 LLC                                                                   | MF1 LLC, Series 2025-FL20, Class AS                                              | CUSIP: 59319CAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  15009000 | PA      | $15046560.02  | 0.19%             | 2043-02-18      | Floating      | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                     | Wells Fargo Commercial Mortgage Trust, Series 2016-C34, Class A4                 | CUSIP: 95000DBD2<br>LEI: 549300FWFHJGIW2B2U59 | Long             | ABS-MBS          | CORP              | US        |   1740000 | PA      | $1733472.22   | 0.02%             | 2049-06-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                            | Morgan Stanley Residential Mortgage Loan Trust, Series 2024-NQM1, Class A1       | CUSIP: 61775UAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8887604 | PA      | $8975829.75   | 0.11%             | 2068-12-25      | Variable      | 6.15%                 | Yes           |                  2 | On Loan: No      |
| BSPRT Issuer LLC                                                          | BSPRT Issuer LLC, Series 2024-FL11, Class AS                                     | CUSIP: 05613RAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  14047000 | PA      | $14108464.05  | 0.18%             | 2039-07-15      | Floating      | 5.78%                 | Yes           |                  2 | On Loan: No      |
| Voya CLO Ltd.                                                             | Voya CLO Ltd., Series 2016-1A, Class A2R                                         | CUSIP: 92915CAS3<br>LEI: 549300BRUAMTEA33B077 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003139.00   | 0.01%             | 2031-01-20      | Floating      | 5.23%                 | Yes           |                  2 | On Loan: No      |
| Enel Finance International NV                                             | Enel Finance International NV                                                    | CUSIP: 29278GBA5<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |  34169000 | PA      | $39282281.85  | 0.49%             | 2032-10-14      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                                              | UBS Group AG                                                                     | CUSIP: 902613BE7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   7091000 | PA      | $8293489.23   | 0.10%             | 2033-11-13      | Variable      | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Trinitas CLO VI Ltd.                                                      | Trinitas CLO VI Ltd., Series 2017-6A, Class C1R4                                 | CUSIP: 89640YBU7<br>LEI: 549300IUAXGLQ814UD95 | Long             | ABS-CBDO         | CORP              | KY        |  11414634 | PA      | $11424827.27  | 0.14%             | 2034-01-25      | Floating      | 5.67%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810TD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 162300000 | PA      | $98071042.56  | 1.23%             | 2052-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MF1 LLC                                                                   | MF1 LLC, Series 2022-FL10, Class B                                               | CUSIP: 55285BAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7500000 | PA      | $7503915.75   | 0.09%             | 2037-09-17      | Floating      | 7.41%                 | Yes           |                  2 | On Loan: No      |
| MAN US CLO Ltd.                                                           | MAN US CLO Ltd., Series 2023-1A, Class B                                         | CUSIP: 56166RAC6<br>LEI: 254900N9T03W7ZI61W42 | Long             | ABS-CBDO         | CORP              | JE        |  15000000 | PA      | $15047070.00  | 0.19%             | 2035-07-20      | Floating      | 6.67%                 | Yes           |                  2 | On Loan: No      |
| Targa Resources Partners LP                                               | Targa Resources Partners LP                                                      | CUSIP: 87612BBS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9038000 | PA      | $9122335.84   | 0.11%             | 2031-02-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                                                | Corebridge Financial, Inc.                                                       | CUSIP: 21871XAK5<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    473000 | PA      | $404531.71    | 0.01%             | 2042-04-05      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Business Jet Securities LLC                                               | Business Jet Securities LLC, Series 2024-2A, Class A                             | CUSIP: 12326TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12286198 | PA      | $12363501.33  | 0.15%             | 2039-09-15      | Fixed         | 5.36%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810TM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  63099000 | PA      | $57587696.72  | 0.72%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                                                    | Arab Republic of Egypt                                                           | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |  19120000 | PA      | $19219223.24  | 0.24%             | 2033-09-30      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Dryden 104 CLO Ltd.                                                       | Dryden 104 CLO Ltd., Series 2022-104A, Class BR                                  | CUSIP: 26253BAS3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  25050000 | PA      | $25072545.00  | 0.31%             | 2034-08-20      | Floating      | 5.64%                 | Yes           |                  2 | On Loan: No      |
| Marriott International, Inc.                                              | Marriott International, Inc., Series HH                                          | CUSIP: 571903BG7<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    654000 | PA      | $606940.67    | 0.01%             | 2031-04-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Stellantis Financial Underwritten Enhanced Lease Trust                    | Stellantis Financial Underwritten Enhanced Lease Trust, Series 2025-AA, Class A2 | CUSIP: 858928AB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10535109 | PA      | $10576763.48  | 0.13%             | 2027-07-20      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                                        | LPL Holdings, Inc.                                                               | CUSIP: 50212YAC8<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   2794000 | PA      | $2780976.69   | 0.03%             | 2027-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| SHR Trust                                                                 | SHR Trust, Series 2024-LXRY, Class B                                             | CUSIP: 784234AC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  24740364 | PA      | $24786752.18  | 0.31%             | 2041-10-15      | Floating      | 6.13%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                                                | Verus Securitization Trust, Series 2024-8, Class A1                              | CUSIP: 92540PAA6<br>LEI: 213800RZ8QGNZ38DSP77 | Long             | ABS-MBS          | CORP              | US        |   3254427 | PA      | $3279835.01   | 0.04%             | 2069-10-25      | Variable      | 5.36%                 | Yes           |                  2 | On Loan: No      |
| Neuberger Berman Loan Advisers NBLA CLO 53 Ltd.                           | Neuberger Berman Loan Advisers NBLA CLO 53 Ltd., Series 2023-53A, Class CR       | CUSIP: 64135WAQ6<br>LEI: 254900R37Z1EGG1Y1P54 | Long             | ABS-CBDO         | CORP              | JE        |  14500000 | PA      | $14570238.00  | 0.18%             | 2037-10-24      | Floating      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                 | Ford Motor Credit Co. LLC                                                        | CUSIP: 345397H48<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   7913000 | PA      | $8101387.72   | 0.10%             | 2030-09-05      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| OBX Trust                                                                 | OBX Trust, Series 2025-NQM13, Class A1                                           | CUSIP: 67121UAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7874983 | PA      | $7967777.55   | 0.10%             | 2065-05-25      | Variable      | 5.44%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                            | Morgan Stanley                                                                   | CUSIP: 61747YFF7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1796000 | PA      | $1851435.82   | 0.02%             | 2029-07-20      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                             | CUSIP: 46647PER3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   9999000 | PA      | $10041130.29  | 0.13%             | 2035-10-22      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| BDS LLC                                                                   | BDS LLC, Series 2024-FL13, Class A                                               | CUSIP: 05555MAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  12437500 | PA      | $12467524.13  | 0.16%             | 2039-09-19      | Floating      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Fairfax Financial Holdings Ltd.                                           | Fairfax Financial Holdings Ltd.                                                  | CUSIP: 303901BL5<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |  12376000 | PA      | $12918726.34  | 0.16%             | 2032-08-16      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                  | PNC Financial Services Group, Inc. (The)                                         | CUSIP: 693475BW4<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |  14643000 | PA      | $15361516.05  | 0.19%             | 2035-01-22      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| SierraCol Energy Andina LLC                                               | SierraCol Energy Andina LLC                                                      | CUSIP: 82653LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4739000 | PA      | $4547212.67   | 0.06%             | 2028-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| OBX Trust                                                                 | OBX Trust, Series 2025-NQM14, Class A1                                           | CUSIP: 673924AC0<br>LEI: 254900T4WKE0IYMYAI09 | Long             | ABS-MBS          | CORP              | US        |   6247493 | PA      | $6295283.58   | 0.08%             | 2065-07-25      | Variable      | 5.16%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                                                | Verus Securitization Trust, Series 2024-1, Class A1                              | CUSIP: 92540EAA1<br>LEI: 984500A3F1D749452747 | Long             | ABS-MBS          | CORP              | US        |   4645817 | PA      | $4675219.06   | 0.06%             | 2069-01-25      | Variable      | 5.71%                 | Yes           |                  2 | On Loan: No      |
| Kentucky Higher Education Student Loan Corp.                              | Kentucky Higher Education Student Loan Corp.                                     | CUSIP: 49130NGL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5220000 | PA      | $5376059.21   | 0.07%             | 2037-06-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Sammons Financial Group, Inc.                                             | Sammons Financial Group, Inc.                                                    | CUSIP: 79588TAF7<br>LEI: 254900SHCOQLVJ21CT59 | Long             | DBT              | CORP              | US        |  32695000 | PA      | $35679652.33  | 0.45%             | 2034-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| MSWF Commercial Mortgage Trust                                            | MSWF Commercial Mortgage Trust, Series 2023-2, Class AS                          | CUSIP: 55361AAX2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4949272 | PA      | $5380506.03   | 0.07%             | 2056-12-15      | Variable      | 6.49%                 | No            |                  2 | On Loan: No      |
| Republic of Cote d'Ivoire                                                 | Republic of Cote d'Ivoire                                                        | CUSIP: 221625AT3<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |  18280000 | PA      | $19507641.11  | 0.24%             | 2033-01-30      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Smurfit Westrock Financing DAC                                            | Smurfit Westrock Financing DAC                                                   | CUSIP: 83272YAB8<br>LEI: 6354005S6ZLHLVX7VT12 | Long             | DBT              | CORP              | IE        |  12000000 | PA      | $12348454.08  | 0.15%             | 2035-01-15      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd.                                                   | Rockford Tower CLO Ltd., Series 2020-1A, Class CRR                               | CUSIP: 77341EBG9<br>LEI: 5493009YDNBJVFWX7747 | Long             | ABS-CBDO         | CORP              | KY        |  12000000 | PA      | $12017136.00  | 0.15%             | 2036-01-20      | Floating      | 5.57%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                            | Morgan Stanley                                                                   | CUSIP: 61747YEH4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   7539000 | PA      | $6767124.54   | 0.08%             | 2032-10-20      | Variable      | 2.51%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                              | UBS Group AG                                                                     | CUSIP: 90352JAC7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1618000 | PA      | $1621149.70   | 0.02%             | 2028-03-23      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Fairfax Financial Holdings Ltd.                                           | Fairfax Financial Holdings Ltd.                                                  | CUSIP: 303901BB7<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |   4578000 | PA      | $4641090.88   | 0.06%             | 2028-04-17      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Argentine Republic (The)                                                  | Argentine Republic (The)                                                         | CUSIP: 040114HU7<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |  15397000 | PA      | $12386886.50  | 0.16%             | 2038-01-09      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Berks County Municipal Authority (The)                                    | Berks County Municipal Authority (The), Series 2024 A-4                          | CUSIP: 084538JJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1211000 | PA      | $989591.54    | 0.01%             | 2039-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Booz Allen Hamilton, Inc.                                                 | Booz Allen Hamilton, Inc.                                                        | CUSIP: 09951LAD5<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |  31306000 | PA      | $32210714.91  | 0.40%             | 2035-04-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                              | UBS Group AG                                                                     | CUSIP: 902613AH1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   3500000 | PA      | $3452576.05   | 0.04%             | 2027-08-10      | Variable      | 1.49%                 | Yes           |                  2 | On Loan: No      |
| Cheniere Energy, Inc.                                                     | Cheniere Energy, Inc.                                                            | CUSIP: 16411RAN9<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10367865.90  | 0.13%             | 2034-04-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| LLC                                                                       | LLC, Series 2025-FL17, Class B                                                   | CUSIP: 55287HAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  15924499 | PA      | $15933241.55  | 0.20%             | 2040-02-18      | Floating      | 5.47%                 | Yes           |                  2 | On Loan: No      |
| BSPRT Issuer Ltd.                                                         | BSPRT Issuer Ltd., Series 2022-FL8, Class D                                      | CUSIP: 055983AJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3973843.20   | 0.05%             | 2037-02-15      | Floating      | 6.51%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                            | Morgan Stanley                                                                   | CUSIP: 61747YFT7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15381152.70  | 0.19%             | 2035-07-19      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                         | Wells Fargo & Co., Series BB                                                     | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   4785000 | PA      | $4779697.74   | 0.06%             | 2026-03-15      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Azule Energy Finance plc                                                  | Azule Energy Finance plc                                                         | CUSIP: 05501YAB4<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |  15869000 | PA      | $15916690.95  | 0.20%             | 2031-01-22      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Oracle Corp.                                                              | Oracle Corp.                                                                     | CUSIP: 68389XDR3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   7137000 | PA      | $6293218.18   | 0.08%             | 2055-09-26      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| MF1 Ltd.                                                                  | MF1 Ltd., Series 2022-FL8, Class A                                               | CUSIP: 55284JAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4358514 | PA      | $4355855.81   | 0.05%             | 2037-02-19      | Floating      | 5.02%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                          | CCO Holdings LLC                                                                 | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9000000 | PA      | $7602215.22   | 0.10%             | 2034-01-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Voya Ltd.                                                                 | Voya Ltd., Series 2012-4A, Class C1R3                                            | CUSIP: 92916GBH6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1737638 | PA      | $1750086.44   | 0.02%             | 2030-10-15      | Floating      | 7.23%                 | Yes           |                  2 | On Loan: No      |
| Electricite de France SA                                                  | Electricite de France SA                                                         | CUSIP: 28504DAD5<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | NUSS              | FR        |   3557000 | PA      | $3953415.16   | 0.05%             | 2053-05-23      | Fixed         | 6.90%                 | Yes           |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                                    | Santander Drive Auto Receivables Trust, Series 2025-1, Class A3                  | CUSIP: 80288DAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9335000 | PA      | $9357101.55   | 0.12%             | 2029-01-16      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners LP                                               | Cheniere Energy Partners LP                                                      | CUSIP: 16411QAS0<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |  24857000 | PA      | $25910083.46  | 0.32%             | 2034-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS                                                                             | CUSIP: 31405JSG0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3066 | PA      | $3110.24      | 0.00%             | 2034-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fairfax Financial Holdings Ltd.                                           | Fairfax Financial Holdings Ltd.                                                  | CUSIP: 303901BN1<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |  11400000 | PA      | $12085079.47  | 0.15%             | 2033-12-07      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO Ltd.                                              | Bain Capital Credit CLO Ltd., Series 2020-3A, Class DRR                          | CUSIP: 05684CBA2<br>LEI: 2549002RK7W6TK0Q0E16 | Long             | ABS-CBDO         | CORP              | KY        |   2300000 | PA      | $2292713.60   | 0.03%             | 2034-10-23      | Floating      | 6.77%                 | Yes           |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                                         | Alliant Holdings Intermediate LLC                                                | CUSIP: 01883LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13000000 | PA      | $12958883.60  | 0.16%             | 2029-11-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| MetLife, Inc.                                                             | MetLife, Inc., Series G                                                          | CUSIP: 59156RCQ9<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |  14405000 | PA      | $15129024.11  | 0.19%             | 2055-03-15      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| Port of Beaumont Industrial Development Authority                         | Port of Beaumont Industrial Development Authority                                | CUSIP: 73358SAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2755000 | PA      | $2516077.86   | 0.03%             | 2028-01-01      | Fixed         | 4.10%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS                                                                             | CUSIP: 31410KQ64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     11718 | PA      | $12220.68     | 0.00%             | 2036-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Store Capital LLC                                                         | Store Capital LLC                                                                | CUSIP: 862121AB6<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              | CORP              | US        |  17647000 | PA      | $17606411.72  | 0.22%             | 2029-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Fortescue Treasury Pty. Ltd.                                              | Fortescue Treasury Pty. Ltd.                                                     | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |  17883000 | PA      | $17278556.57  | 0.22%             | 2031-04-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| BAT Capital Corp.                                                         | BAT Capital Corp.                                                                | CUSIP: 05526DBW4<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |  16783000 | PA      | $16912754.07  | 0.21%             | 2032-03-16      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Series 2013-1, Class YI                                                    | CUSIP: 3136ABC35<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    114098 | PA      | $7585.04      | 0.00%             | 2033-02-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Sonangol Finance Ltd.                                                     | Sonangol Finance Ltd.                                                            | CUSIP: 83540CAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | AO        |  10000000 | PA      | $9880400.00   | 0.12%             | 2031-01-29      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| MF1 LLC                                                                   | MF1 LLC, Series 2024-FL14, Class C                                               | CUSIP: 55416AAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  13925765 | PA      | $13953115.20  | 0.17%             | 2039-03-19      | Floating      | 6.96%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                              | GS Mortgage Securities Trust, Series 2019-GC40, Class AS                         | CUSIP: 36257HBT2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2200000 | PA      | $2039951.54   | 0.03%             | 2052-07-10      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp.                                                     | Las Vegas Sands Corp.                                                            | CUSIP: 517834AM9<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |  10681000 | PA      | $10935348.15  | 0.14%             | 2028-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                     | Bank of America Corp.                                                            | CUSIP: 06051GKL2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4785000 | PA      | $4492150.63   | 0.06%             | 2037-03-08      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| Jane Street Group                                                         | Jane Street Group                                                                | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  29337000 | PA      | $30514549.63  | 0.38%             | 2033-05-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ACREC Ltd.                                                                | ACREC Ltd., Series 2021-FL1, Class D                                             | CUSIP: 00500RAJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2591000 | PA      | $2583076.72   | 0.03%             | 2036-10-16      | Floating      | 6.44%                 | Yes           |                  2 | On Loan: No      |
| Marin General Hospital                                                    | Marin General Hospital, Series 2023                                              | CUSIP: 568039AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2805000 | PA      | $3044976.81   | 0.04%             | 2045-08-01      | Fixed         | 7.24%                 | No            |                  2 | On Loan: No      |
| Black Diamond CLO Ltd.                                                    | Black Diamond CLO Ltd., Series 2019-2A, Class BR                                 | CUSIP: 09204GAM1<br>LEI: 254900MIPS4I29O2I690 | Long             | ABS-CBDO         | CORP              | KY        |  31000000 | PA      | $31018507.00  | 0.39%             | 2032-07-23      | Floating      | 6.42%                 | Yes           |                  2 | On Loan: No      |
| Capital One Financial Corp.                                               | Capital One Financial Corp.                                                      | CUSIP: 14040HDF9<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1859000 | PA      | $1952524.80   | 0.02%             | 2035-02-01      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| Shriram Finance Ltd.                                                      | Shriram Finance Ltd.                                                             | CUSIP: 82556FAB8<br>LEI: 335800TM2YO24B76XL26 | Long             | DBT              | CORP              | IN        |  16582000 | PA      | $17074952.85  | 0.21%             | 2028-04-03      | Fixed         | 6.15%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                            | Morgan Stanley Residential Mortgage Loan Trust, Series 2025-NQM5, Class A1       | CUSIP: 61779BAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6521051 | PA      | $6593611.28   | 0.08%             | 2070-07-25      | Variable      | 5.44%                 | Yes           |                  2 | On Loan: No      |
| Engie Energia Chile SA                                                    | Engie Energia Chile SA                                                           | CUSIP: N/A<br>LEI: 5493000FIKCC3ZDWTO77       | Long             | DBT              | CORP              | CL        |   4000000 | PA      | $3791016.80   | 0.05%             | 2030-01-28      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| MF1                                                                       | MF1, Series 2024-FL15, Class B                                                   | CUSIP: 58003MAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  11108000 | PA      | $11115409.04  | 0.14%             | 2041-08-18      | Floating      | 6.17%                 | Yes           |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                                                | Charles Schwab Corp. (The)                                                       | CUSIP: 808513CH6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10859216.60  | 0.14%             | 2034-08-24      | Variable      | 6.14%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                          | Boeing Co. (The)                                                                 | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |  10458000 | PA      | $11569114.71  | 0.14%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Brown & Brown, Inc.                                                       | Brown & Brown, Inc.                                                              | CUSIP: 115236AG6<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |  22462000 | PA      | $23133419.95  | 0.29%             | 2034-06-11      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                                            | Broadcom, Inc.                                                                   | CUSIP: 11135FCY5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |  17745000 | PA      | $17516099.26  | 0.22%             | 2036-02-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| LKQ Corp.                                                                 | LKQ Corp.                                                                        | CUSIP: 501889AF6<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | DBT              | CORP              | US        |  15577000 | PA      | $16301460.41  | 0.20%             | 2033-06-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                | Verus Securitization Trust, Series 2025-9, Class A1                              | CUSIP: 92490EAA1<br>LEI: 2138002AFCEWDDRL8N22 | Long             | ABS-MBS          | CORP              | US        |   8326030 | PA      | $8368800.74   | 0.10%             | 2070-10-27      | Variable      | 4.93%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                                                   | Hyundai Capital America                                                          | CUSIP: 44891ACA3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1897443.56   | 0.02%             | 2028-09-15      | Fixed         | 2.10%                 | Yes           |                  2 | On Loan: No      |
| UC Health LLC                                                             | UC Health LLC, Series 2025                                                       | CUSIP: 90293HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14516000 | PA      | $15088548.35  | 0.19%             | 2035-08-01      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| Beach Acquisition Bidco LLC                                               | Beach Acquisition Bidco LLC                                                      | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |  28332826 | PA      | $31175754.23  | 0.39%             | 2033-07-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| STORE Master Funding LLC                                                  | STORE Master Funding LLC, Series 2024-1A, Class A4                               | CUSIP: 86212XAP5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    892125 | PA      | $913718.89    | 0.01%             | 2054-05-20      | Fixed         | 5.94%                 | Yes           |                  2 | On Loan: No      |
| MF1 Ltd.                                                                  | MF1 Ltd., Series 2022-FL8, Class D                                               | CUSIP: 55284JAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $4996665.50   | 0.06%             | 2037-02-19      | Floating      | 6.32%                 | Yes           |                  2 | On Loan: No      |
| MF1 Ltd.                                                                  | MF1 Ltd., Series 2022-FL8, Class E                                               | CUSIP: 55284JAL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4500000 | PA      | $4466707.20   | 0.06%             | 2037-02-19      | Floating      | 6.82%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS                                                                             | CUSIP: 31402QTR2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     48157 | PA      | $50122.96     | 0.00%             | 2034-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Affirm Asset Securitization Trust                                         | Affirm Asset Securitization Trust, Series 2025-X1, Class A                       | CUSIP: 00834MAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1576512 | PA      | $1579073.08   | 0.02%             | 2030-04-15      | Fixed         | 5.08%                 | Yes           |                  2 | On Loan: No      |
| ILPT Commercial Mortgage Trust                                            | ILPT Commercial Mortgage Trust, Series 2025-LPF2, Class C                        | CUSIP: 451955AE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8000000 | PA      | $8147314.40   | 0.10%             | 2042-07-13      | Variable      | 5.83%                 | Yes           |                  2 | On Loan: No      |
| Greystone CRE Notes LLC                                                   | Greystone CRE Notes LLC, Series 2025-FL4, Class B                                | CUSIP: 39810MAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3640500 | PA      | $3647791.92   | 0.05%             | 2043-01-15      | Floating      | 6.27%                 | Yes           |                  2 | On Loan: No      |
| Trinitas CLO XV Ltd.                                                      | Trinitas CLO XV Ltd., Series 2021-15A, Class CR                                  | CUSIP: 89641XAS4<br>LEI: 254900ZVDNHQAUJNHH42 | Long             | ABS-CBDO         | CORP              | KY        |  27250000 | PA      | $27266241.00  | 0.34%             | 2034-04-22      | Floating      | 5.72%                 | Yes           |                  2 | On Loan: No      |
| Boston Properties LP                                                      | Boston Properties LP                                                             | CUSIP: 10112RBE3<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |  11423000 | PA      | $9986733.66   | 0.13%             | 2032-04-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Plains All American Pipeline LP                                           | Plains All American Pipeline LP                                                  | CUSIP: 72650RBP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20624704.40  | 0.26%             | 2034-09-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Post Holdings, Inc.                                                       | Post Holdings, Inc.                                                              | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |  16000000 | PA      | $15624190.40  | 0.20%             | 2030-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Dryden 43 Senior Loan Fund                                                | Dryden 43 Senior Loan Fund, Series 2016-43A, Class CR3                           | CUSIP: 26245CBU6<br>LEI: 5493002P75UIPU4MC757 | Long             | ABS-CBDO         | CORP              | KY        |  15600000 | PA      | $15520908.00  | 0.19%             | 2034-04-20      | Floating      | 5.42%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                       | U.S. Treasury 2 Year Note                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      3993 | NC      | $-1799693.02  | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                              | Avolon Holdings Funding Ltd.                                                     | CUSIP: 05401AAS0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   3115000 | PA      | $3241948.52   | 0.04%             | 2028-05-04      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Ferguson Enterprises, Inc.                                                | Ferguson Enterprises, Inc.                                                       | CUSIP: 31488VAA5<br>LEI: 2138003JYQMRP3SLX189 | Long             | DBT              | CORP              | US        |   5260000 | PA      | $5281991.43   | 0.07%             | 2034-10-03      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp.                                                         | NTT Finance Corp.                                                                | CUSIP: 62954WAV7<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |  27923000 | PA      | $28844870.59  | 0.36%             | 2035-07-16      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| EQT Trust                                                                 | EQT Trust, Series 2024-EXTR, Class B                                             | CUSIP: 29439DAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4855458 | PA      | $4946421.12   | 0.06%             | 2041-07-05      | Variable      | 5.65%                 | Yes           |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                                                | AerCap Ireland Capital DAC                                                       | CUSIP: 00774MBC8<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   6892000 | PA      | $7136284.18   | 0.09%             | 2028-06-06      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Eagle Funding Luxco Sarl                                                  | Eagle Funding Luxco Sarl                                                         | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |  14939000 | PA      | $15175334.98  | 0.19%             | 2030-08-17      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Ballyrock CLO 25 Ltd.                                                     | Ballyrock CLO 25 Ltd., Series 2023-25A, Class A2R                                | CUSIP: 05876QAQ5<br>LEI: 2549000LY2B016K4LA62 | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $10040150.00  | 0.13%             | 2038-01-25      | Floating      | 5.17%                 | Yes           |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                      | Charter Communications Operating LLC                                             | CUSIP: 161175BL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4623000 | PA      | $3795628.53   | 0.05%             | 2047-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810UE6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 109100000 | PA      | $102353698.95 | 1.28%             | 2054-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Alcon Finance Corp.                                                       | Alcon Finance Corp.                                                              | CUSIP: 01400EAF0<br>LEI: 549300CUZUI9VU7XNK42 | Long             | DBT              | CORP              | US        |   6027000 | PA      | $6068166.46   | 0.08%             | 2052-12-06      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Arthur J Gallagher & Co.                                                  | Arthur J Gallagher & Co.                                                         | CUSIP: 04316JAN9<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15116646.15  | 0.19%             | 2035-02-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Jersey Central Power & Light Co.                                          | Jersey Central Power & Light Co.                                                 | CUSIP: 476556DD4<br>LEI: 549300W9UGH9ZPLNPF79 | Long             | DBT              | CORP              | US        |    359000 | PA      | $323941.37    | 0.00%             | 2032-03-01      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                                       | Intesa Sanpaolo SpA                                                              | CUSIP: 46115HCD7<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   9924000 | PA      | $11356334.10  | 0.14%             | 2033-11-28      | Fixed         | 7.20%                 | Yes           |                  2 | On Loan: No      |
| MF1                                                                       | MF1, Series 2024-FL16, Class C                                                   | CUSIP: 55287EAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  17880000 | PA      | $17969428.61  | 0.23%             | 2039-11-18      | Floating      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| Bain Capital Credit CLO Ltd.                                              | Bain Capital Credit CLO Ltd., Series 2020-4A, Class BRR                          | CUSIP: 05684KBL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  27700112 | PA      | $27735955.94  | 0.35%             | 2036-10-20      | Floating      | 5.27%                 | Yes           |                  2 | On Loan: No      |
| LLC                                                                       | LLC, Series 2025-FL19, Class AS                                                  | CUSIP: 55287KAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  39130655 | PA      | $39252934.38  | 0.49%             | 2042-05-18      | Floating      | 5.67%                 | Yes           |                  2 | On Loan: No      |
| Boston Properties LP                                                      | Boston Properties LP                                                             | CUSIP: 10112RBJ2<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |  21600000 | PA      | $22105078.42  | 0.28%             | 2035-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Brixmor Operating Partnership LP                                          | Brixmor Operating Partnership LP                                                 | CUSIP: 11120BAA5<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              | CORP              | US        |   6674000 | PA      | $6985442.21   | 0.09%             | 2035-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                                      | Glencore Funding LLC                                                             | CUSIP: 378272BE7<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |   7907000 | PA      | $7322634.43   | 0.09%             | 2031-04-27      | Fixed         | 2.85%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                      | BANK, Series 2019-BN16, Class AS                                                 | CUSIP: 065405AF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2230000 | PA      | $2187466.10   | 0.03%             | 2052-02-15      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                  | PNC Financial Services Group, Inc. (The)                                         | CUSIP: 693475BZ7<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7208452.09   | 0.09%             | 2035-07-23      | Variable      | 5.40%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                               | Capital One Financial Corp.                                                      | CUSIP: 14040HDA0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |  21988000 | PA      | $23610721.00  | 0.30%             | 2034-06-08      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                     | Bank of America Corp.                                                            | CUSIP: 06051GMQ9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  19835000 | PA      | $20508724.93  | 0.26%             | 2036-02-12      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                     | Bank of America Corp.                                                            | CUSIP: 06051GKD0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   8268000 | PA      | $7459636.65   | 0.09%             | 2032-10-20      | Variable      | 2.57%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                 | Ford Motor Credit Co. LLC                                                        | CUSIP: 345397E25<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |  22999000 | PA      | $23773693.49  | 0.30%             | 2031-03-05      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Acrec 2025 Fl LLC                                                         | Acrec 2025 Fl LLC, Series 2025-FL3, Class B                                      | CUSIP: 00112HAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5000000 | PA      | $4984975.00   | 0.06%             | 2042-08-18      | Floating      | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                  | Benchmark Mortgage Trust, Series 2019-B10, Class AM                              | CUSIP: 08162VAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $966518.50    | 0.01%             | 2062-03-15      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| Global Payments, Inc.                                                     | Global Payments, Inc.                                                            | CUSIP: 37940XAD4<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   3563000 | PA      | $3312288.36   | 0.04%             | 2030-05-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                                  | COLT Mortgage Loan Trust, Series 2024-1, Class A1                                | CUSIP: 19688TAA3<br>LEI: 2138001HZNOLT1K3WY73 | Long             | ABS-MBS          | CORP              | US        |   8265493 | PA      | $8319599.36   | 0.10%             | 2069-02-25      | Variable      | 5.83%                 | Yes           |                  2 | On Loan: No      |
| Bacardi Ltd.                                                              | Bacardi Ltd.                                                                     | CUSIP: 067316AG4<br>LEI: 549300R32WTQNHNN5055 | Long             | DBT              | CORP              | BM        |    955000 | PA      | $899267.48    | 0.01%             | 2038-05-15      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                  | Angel Oak Mortgage Trust, Series 2025-10, Class A1                               | CUSIP: 034940AA4<br>LEI: 254900CFOEUA52TRVZ51 | Long             | ABS-MBS          | CORP              | US        |  12785656 | PA      | $12829259.75  | 0.16%             | 2070-09-25      | Variable      | 4.96%                 | Yes           |                  2 | On Loan: No      |
| ELM Trust                                                                 | ELM Trust, Series 2024-ELM, Class D10                                            | CUSIP: 26860XBE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4065000 | PA      | $4075721.44   | 0.05%             | 2039-06-10      | Variable      | 6.85%                 | Yes           |                  2 | On Loan: No      |
| OBX Trust                                                                 | OBX Trust, Series 2025-NQM1, Class A1                                            | CUSIP: 673914AC1<br>LEI: 2549007E8KF1RJ2ZV866 | Long             | ABS-MBS          | CORP              | US        |   7960413 | PA      | $8047894.19   | 0.10%             | 2064-12-25      | Variable      | 5.55%                 | Yes           |                  2 | On Loan: No      |
| Wabash National Corp.                                                     | Wabash National Corp.                                                            | CUSIP: 929566AL1<br>LEI: 5299004ZAWHQZI5XO485 | Long             | DBT              | CORP              | US        |  22233000 | PA      | $20690885.77  | 0.26%             | 2028-10-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Store Capital LLC                                                         | Store Capital LLC                                                                | CUSIP: 862121AA8<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              | CORP              | US        |  16571000 | PA      | $16631450.35  | 0.21%             | 2028-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| OBX Trust                                                                 | OBX Trust, Series 2025-NQM18, Class A1                                           | CUSIP: 673918AC2<br>LEI: 254900JLM1WC0WGYCA96 | Long             | ABS-MBS          | CORP              | US        |  13344112 | PA      | $13427513.77  | 0.17%             | 2065-09-25      | Variable      | 5.06%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                     | Wells Fargo Commercial Mortgage Trust, Series 2017-RB1, Class A5                 | CUSIP: 95000TBS4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1473163.50   | 0.02%             | 2050-03-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Berks County Municipal Authority (The)                                    | Berks County Municipal Authority (The), Series 2024 A-1A                         | CUSIP: 084538JD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5800000 | PA      | $5905465.46   | 0.07%             | 2034-06-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                                     | Ashtead Capital, Inc.                                                            | CUSIP: 04505AAA7<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |  20580000 | PA      | $21335168.69  | 0.27%             | 2032-08-11      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Toledo Hospital (The)                                                     | Toledo Hospital (The)                                                            | CUSIP: 889184AD9<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |    568000 | PA      | $573434.96    | 0.01%             | 2038-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                         | Wells Fargo & Co.                                                                | CUSIP: 95000U2J1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   5515000 | PA      | $5154001.61   | 0.06%             | 2031-02-11      | Variable      | 2.57%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                                       | Exeter Automobile Receivables Trust, Series 2025-1A, Class A2                    | CUSIP: 30167MAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30595 | PA      | $30602.35     | 0.00%             | 2027-09-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| OBX Trust                                                                 | OBX Trust, Series 2024-NQM10, Class A2                                           | CUSIP: 67119MAB4<br>LEI: 25490010LUJWFEUCIH44 | Long             | ABS-MBS          | CORP              | US        |   3601814 | PA      | $3644423.96   | 0.05%             | 2064-05-25      | Variable      | 6.33%                 | Yes           |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                | Occidental Petroleum Corp.                                                       | CUSIP: 674599EL5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   6292000 | PA      | $6436514.66   | 0.08%             | 2034-10-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                          | Deutsche Bank AG                                                                 | CUSIP: 251526CY3<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |  10000000 | PA      | $10143788.50  | 0.13%             | 2035-09-11      | Variable      | 5.40%                 | No            |                  2 | On Loan: No      |
| BDS LLC                                                                   | BDS LLC, Series 2024-FL13, Class AS                                              | CUSIP: 05555MAC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5354000 | PA      | $5368691.38   | 0.07%             | 2039-09-19      | Floating      | 5.66%                 | Yes           |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                                  | COLT Mortgage Loan Trust, Series 2024-2, Class A1                                | CUSIP: 12665LAA2<br>LEI: 213800Z2Q6LED8DB8K38 | Long             | ABS-MBS          | CORP              | US        |   5038995 | PA      | $5094743.74   | 0.06%             | 2069-04-25      | Variable      | 6.13%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                           | TransDigm, Inc.                                                                  | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  32500000 | PA      | $32303550.50  | 0.40%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810TV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  47500000 | PA      | $46399707.15  | 0.58%             | 2053-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Wynn Macau Ltd.                                                           | Wynn Macau Ltd.                                                                  | CUSIP: 98313RAL0<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |  14373000 | PA      | $14568740.86  | 0.18%             | 2034-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| APA Infrastructure Ltd.                                                   | APA Infrastructure Ltd.                                                          | CUSIP: 00188LAA5<br>LEI: 261700SS8OEHDOCOUJ33 | Long             | DBT              | CORP              | AU        |  19996000 | PA      | $20040168.16  | 0.25%             | 2034-09-16      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| PRM Trust                                                                 | PRM Trust, Series 2025-PRM6, Class C                                             | CUSIP: 74277DAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3740000 | PA      | $3743928.50   | 0.05%             | 2033-07-05      | Variable      | 5.01%                 | Yes           |                  2 | On Loan: No      |
| OBX Trust                                                                 | OBX Trust, Series 2025-NQM4, Class A1                                            | CUSIP: 67120QAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  19280768 | PA      | $19466775.28  | 0.24%             | 2055-02-25      | Variable      | 5.40%                 | Yes           |                  2 | On Loan: No      |
| Black Diamond CLO Ltd.                                                    | Black Diamond CLO Ltd., Series 2021-1A, Class BR                                 | CUSIP: 09204WAK0<br>LEI: 549300IEWA7GZ3ECTT90 | Long             | ABS-CBDO         | CORP              | KY        |  19000000 | PA      | $19012236.00  | 0.24%             | 2034-11-22      | Floating      | 5.87%                 | Yes           |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                                     | Toll Road Investors Partnership II LP                                            | CUSIP: 88948ABE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    889000 | PA      | $739971.04    | 0.01%             | 2029-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810RK6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7646000 | PA      | $5399987.50   | 0.07%             | 2045-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                              | Barclays plc                                                                     | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  15000000 | PA      | $16035660.00  | 0.20%             | 2029-03-15      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| Republic of Turkiye (The)                                                 | Republic of Turkiye (The)                                                        | CUSIP: 900123DK3<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   6117000 | PA      | $6513726.42   | 0.08%             | 2034-05-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                                                | Corebridge Financial, Inc.                                                       | CUSIP: 21871XAU3<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |  14368000 | PA      | $14927892.22  | 0.19%             | 2030-12-01      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| BBCMS Mortgage Trust                                                      | BBCMS Mortgage Trust, Series 2025-C39, Class A5                                  | CUSIP: 05556YAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7368421 | PA      | $7598100.58   | 0.10%             | 2058-12-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Cathedral Lake VI Ltd.                                                    | Cathedral Lake VI Ltd., Series 2021-6A, Class BR                                 | CUSIP: 14919LAW4<br>LEI: 254900VBMJ6DSB3ZGA63 | Long             | ABS-CBDO         | CORP              | KY        |   6214659 | PA      | $6214609.28   | 0.08%             | 2034-04-25      | Floating      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| Capital One Financial Corp.                                               | Capital One Financial Corp.                                                      | CUSIP: 254709AS7<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |  22683000 | PA      | $25032005.66  | 0.31%             | 2032-11-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                            | Morgan Stanley Residential Mortgage Loan Trust, Series 2025-NQM6, Class A1       | CUSIP: 617948AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  18341754 | PA      | $18465775.12  | 0.23%             | 2070-07-25      | Variable      | 5.15%                 | Yes           |                  2 | On Loan: No      |
| Macquarie Airfinance Holdings Ltd.                                        | Macquarie Airfinance Holdings Ltd.                                               | CUSIP: 55609NAC2<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |   3124000 | PA      | $3281662.03   | 0.04%             | 2029-03-26      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                  | Benchmark Mortgage Trust, Series 2025-V18, Class AS                              | CUSIP: 08164EAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9866814 | PA      | $10212653.72  | 0.13%             | 2058-10-15      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                               | Capital One Financial Corp.                                                      | CUSIP: 14040HCN3<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4850523.35   | 0.06%             | 2030-03-01      | Variable      | 3.27%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810TX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 168300000 | PA      | $151397683.17 | 1.90%             | 2054-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                              | Pacific Gas and Electric Co.                                                     | CUSIP: 694308KP1<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   9500000 | PA      | $10529860.99  | 0.13%             | 2034-03-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810TT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 148700000 | PA      | $131007022.69 | 1.64%             | 2053-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ILPT Commercial Mortgage Trust                                            | ILPT Commercial Mortgage Trust, Series 2025-LPF2, Class A                        | CUSIP: 451955AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16361000 | PA      | $16730585.17  | 0.21%             | 2042-07-13      | Variable      | 5.29%                 | Yes           |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                              | Pacific Gas and Electric Co.                                                     | CUSIP: 694308JJ7<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   3017000 | PA      | $2040985.93   | 0.03%             | 2050-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                                          | CCO Holdings LLC                                                                 | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21300000 | PA      | $20018611.17  | 0.25%             | 2030-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| PMT Loan Trust                                                            | PMT Loan Trust, Series 2026-INV1, Class A36                                      | CUSIP: 73015LBP7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  14900000 | PA      | $14900002.98  | 0.19%             | 2057-01-25      | Floating      | 5.03%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                      | BANK, Series 2019-BN17, Class AS                                                 | CUSIP: 065403BF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $4842486.00   | 0.06%             | 2052-04-15      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                       | Petroleos Mexicanos                                                              | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |  11050000 | PA      | $10779396.55  | 0.14%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                         | HSBC Holdings plc                                                                | CUSIP: 404280CQ0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1150000 | PA      | $1088474.43   | 0.01%             | 2031-03-09      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                     | Bank of America Corp.                                                            | CUSIP: 06051GLH0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  10503000 | PA      | $10789343.60  | 0.14%             | 2034-04-25      | Variable      | 5.29%                 | No            |                  2 | On Loan: No      |
| Jersey Central Power & Light Co.                                          | Jersey Central Power & Light Co., Series WI*                                     | CUSIP: 476556DF9<br>LEI: 549300W9UGH9ZPLNPF79 | Long             | DBT              | CORP              | US        |   5768000 | PA      | $5843715.67   | 0.07%             | 2035-01-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                             | CUSIP: 46647PBP0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    726000 | PA      | $684226.32    | 0.01%             | 2031-05-13      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| Post Holdings, Inc.                                                       | Post Holdings, Inc.                                                              | CUSIP: 737446AX2<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |  18492000 | PA      | $18624328.75  | 0.23%             | 2034-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Rogers Communications, Inc.                                               | Rogers Communications, Inc.                                                      | CUSIP: 775109CK5<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   2643000 | PA      | $2131560.50   | 0.03%             | 2052-03-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                          | Boeing Co. (The)                                                                 | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   5970000 | PA      | $6731716.78   | 0.08%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                  | Public Finance Authority, Series 2025                                            | CUSIP: 74442PQ65<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |  12115000 | PA      | $12235077.82  | 0.15%             | 2060-07-01      | Fixed         | 7.09%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                      | Charter Communications Operating LLC                                             | CUSIP: 161175CA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1824000 | PA      | $1191035.78   | 0.01%             | 2052-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | U.S. Treasury 5 Year Note                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      3837 | NC      | $-2494191.55  | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Verus Securitization Trust                                                | Verus Securitization Trust, Series 2024-2, Class A1                              | CUSIP: 92539UAA8<br>LEI: 213800KSJFZ5H8FZ7C61 | Long             | ABS-MBS          | CORP              | US        |   2905153 | PA      | $2934302.62   | 0.04%             | 2069-02-25      | Variable      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| MF1                                                                       | MF1, Series 2024-FL15, Class C                                                   | CUSIP: 58003MAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  13400000 | PA      | $13409219.20  | 0.17%             | 2041-08-18      | Floating      | 6.62%                 | Yes           |                  2 | On Loan: No      |
| MF1 LLC                                                                   | MF1 LLC, Series 2022-FL9, Class B                                                | CUSIP: 55285AAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7000000 | PA      | $7002541.00   | 0.09%             | 2037-06-19      | Floating      | 6.82%                 | Yes           |                  2 | On Loan: No      |
| Toledo Hospital (The)                                                     | Toledo Hospital (The), Series B                                                  | CUSIP: 889184AC1<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |   3153000 | PA      | $3201922.14   | 0.04%             | 2028-11-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Alaska Industrial Development & Export Authority                          | Alaska Industrial Development & Export Authority                                 | CUSIP: 011903BT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4845000 | PA      | $4846205.92   | 0.06%             | 2030-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                  | Benchmark Mortgage Trust, Series 2023-V3, Class AS                               | CUSIP: 08163VAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10000000 | PA      | $10551199.00  | 0.13%             | 2056-07-15      | Variable      | 7.10%                 | No            |                  2 | On Loan: No      |
| BANK                                                                      | BANK, Series 2023-BNK46, Class B                                                 | CUSIP: 06541DBT0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6906487 | PA      | $7261360.26   | 0.09%             | 2056-08-15      | Variable      | 6.77%                 | No            |                  2 | On Loan: No      |
| AGL CLO 1 Ltd.                                                            | AGL CLO 1 Ltd., Series 2019-1A, Class BRR                                        | CUSIP: 00119HAS9<br>LEI: 5493005XHETQNZF9TM25 | Long             | ABS-CBDO         | CORP              | KY        |  15250000 | PA      | $15251159.00  | 0.19%             | 2034-10-20      | Floating      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.                            | Arbor Realty Commercial Real Estate Notes Ltd., Series 2022-FL1, Class D         | CUSIP: 03880XAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5800000 | PA      | $5770479.33   | 0.07%             | 2037-01-15      | Floating      | 6.71%                 | Yes           |                  2 | On Loan: No      |
| First Industrial LP                                                       | First Industrial LP                                                              | CUSIP: 32055RAS6<br>LEI: 86MKNB3IKYZZT3E3OV11 | Long             | DBT              | CORP              | US        |  29162000 | PA      | $29697486.93  | 0.37%             | 2031-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chemours Co. (The)                                                        | Chemours Co. (The)                                                               | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |   9940000 | PA      | $9857644.12   | 0.12%             | 2028-11-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                                 | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 65342QAM4<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |  19050000 | PA      | $19657390.20  | 0.25%             | 2029-01-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Macquarie Airfinance Holdings Ltd.                                        | Macquarie Airfinance Holdings Ltd.                                               | CUSIP: 55609NAD0<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |  11500000 | PA      | $12296925.28  | 0.15%             | 2031-03-26      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| AmWINS Group, Inc.                                                        | AmWINS Group, Inc.                                                               | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15391230.00  | 0.19%             | 2029-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.                            | Arbor Realty Commercial Real Estate Notes Ltd., Series 2022-FL1, Class A         | CUSIP: 03880XAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1914626 | PA      | $1915098.60   | 0.02%             | 2037-01-15      | Floating      | 5.16%                 | Yes           |                  2 | On Loan: No      |
| Republic of Angola                                                        | Republic of Angola                                                               | CUSIP: N/A<br>LEI: 549300QHR2R3J8JSGK83       | Long             | DBT              | NUSS              | AO        |  12805000 | PA      | $12558707.48  | 0.16%             | 2029-11-26      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ACRES Commercial Realty Issuer LLC                                        | ACRES Commercial Realty Issuer LLC, Series 2026-FL4, Class B                     | CUSIP: 00501XAE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  18308500 | PA      | $18342810.13  | 0.23%             | 2044-08-18      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Targa Resources Corp.                                                     | Targa Resources Corp.                                                            | CUSIP: 87612GAC5<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |  13342000 | PA      | $14256157.82  | 0.18%             | 2033-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Targa Resources Corp.                                                     | Targa Resources Corp.                                                            | CUSIP: 87612GAS0<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |  22698000 | PA      | $22736967.02  | 0.28%             | 2036-07-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| HUB International Ltd.                                                    | HUB International Ltd.                                                           | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |  19641000 | PA      | $20492515.91  | 0.26%             | 2030-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Westinghouse Air Brake Technologies Corp.                                 | Westinghouse Air Brake Technologies Corp.                                        | CUSIP: 960386AR1<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |   6667000 | PA      | $6972874.56   | 0.09%             | 2034-03-11      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                              | UBS Group AG                                                                     | CUSIP: 902613BH0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  17000000 | PA      | $17809687.73  | 0.22%             | 2035-02-08      | Variable      | 5.70%                 | Yes           |                  2 | On Loan: No      |
| COMM Mortgage Trust                                                       | COMM Mortgage Trust, Series 2024-CBM, Class B                                    | CUSIP: 12674GAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  30112500 | PA      | $30781909.91  | 0.39%             | 2041-12-10      | Variable      | 6.51%                 | Yes           |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                  | Benchmark Mortgage Trust, Series 2024-V5, Class AM                               | CUSIP: 08163XBA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2599811.75   | 0.03%             | 2057-01-10      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| Santos Finance Ltd.                                                       | Santos Finance Ltd.                                                              | CUSIP: 803014AC3<br>LEI: 213800BKUBSWG53XNS94 | Long             | DBT              | CORP              | AU        |  19035000 | PA      | $19088712.20  | 0.24%             | 2035-11-13      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Anglo American Capital plc                                                | Anglo American Capital plc                                                       | CUSIP: 034863BA7<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |   9067000 | PA      | $8382621.30   | 0.11%             | 2031-03-17      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Venture 43 CLO Ltd.                                                       | Venture 43 CLO Ltd., Series 2021-43A, Class CR                                   | CUSIP: 92290CAX7<br>LEI: 549300OLN5VHTMLSN650 | Long             | ABS-CBDO         | CORP              | KY        |  29305532 | PA      | $29308638.39  | 0.37%             | 2034-04-15      | Floating      | 5.92%                 | Yes           |                  2 | On Loan: No      |
| Republic of South Africa                                                  | Republic of South Africa                                                         | CUSIP: N/A<br>LEI: 378900AAFB4F17004C49       | Long             | DBT              | NUSS              | ZA        |  22180000 | PA      | $23507741.60  | 0.29%             | 2036-11-19      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| AREIT Ltd.                                                                | AREIT Ltd., Series 2025-CRE10, Class B                                           | CUSIP: 00193DAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |  17650000 | PA      | $17629075.93  | 0.22%             | 2030-01-17      | Floating      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| Performance Food Group, Inc.                                              | Performance Food Group, Inc.                                                     | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |  27813000 | PA      | $28565562.49  | 0.36%             | 2032-09-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS                                                                             | CUSIP: 31384WLN8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3967 | PA      | $4102.39      | 0.00%             | 2031-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                          | Boeing Co. (The)                                                                 | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   2018000 | PA      | $2017654.54   | 0.03%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                                            | Enbridge, Inc.                                                                   | CUSIP: 29250NBF1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1923000 | PA      | $1650984.36   | 0.02%             | 2033-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BXMT Ltd.                                                                 | BXMT Ltd., Series 2021-FL4, Class B                                              | CUSIP: 05609GAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2123000 | PA      | $2091806.55   | 0.03%             | 2038-05-15      | Floating      | 5.34%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                                              | UBS Group AG                                                                     | CUSIP: 902613BS6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  23491000 | PA      | $23875171.81  | 0.30%             | 2035-02-05      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                                     | Ashtead Capital, Inc.                                                            | CUSIP: 045054AS2<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   9444000 | PA      | $9901259.97   | 0.12%             | 2034-04-15      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| PMT Loan Trust                                                            | PMT Loan Trust, Series 2026-CNF1, Class A26                                      | CUSIP: 729920BE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7536065 | PA      | $7535538.98   | 0.09%             | 2057-01-25      | Floating      | 4.89%                 | Yes           |                  2 | On Loan: No      |
| Eni SpA                                                                   | Eni SpA                                                                          | CUSIP: 26874RAN8<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |  25000000 | PA      | $25838890.00  | 0.32%             | 2034-05-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Nomura Holdings, Inc.                                                     | Nomura Holdings, Inc.                                                            | CUSIP: 65535HCE7<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |  29000000 | PA      | $28803562.12  | 0.36%             | 2036-06-10      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                                        | LPL Holdings, Inc.                                                               | CUSIP: 50212YAQ7<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |  14916000 | PA      | $15322104.06  | 0.19%             | 2035-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Global Payments, Inc.                                                     | Global Payments, Inc.                                                            | CUSIP: 37940XAH5<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |  10669000 | PA      | $9571436.12   | 0.12%             | 2031-11-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Fairfax Financial Holdings Ltd.                                           | Fairfax Financial Holdings Ltd.                                                  | CUSIP: 303901BR2<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |   2500000 | PA      | $2616493.35   | 0.03%             | 2054-03-22      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                           | Goldman Sachs Group, Inc. (The)                                                  | CUSIP: 38141GZM9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   4410000 | PA      | $4052318.31   | 0.05%             | 2033-02-24      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810UN6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  77250000 | PA      | $77696601.56  | 0.97%             | 2045-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| STORE Master Funding LLC                                                  | STORE Master Funding LLC, Series 2025-1A, Class A2                               | CUSIP: 86212FAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  38857085 | PA      | $38439161.69  | 0.48%             | 2055-10-20      | Fixed         | 4.98%                 | Yes           |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                                              | BX Commercial Mortgage Trust, Series 2025-BCAT, Class D                          | CUSIP: 12433HAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8106131 | PA      | $8133982.48   | 0.10%             | 2042-08-15      | Floating      | 6.33%                 | Yes           |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                                                | Charles Schwab Corp. (The), Series K                                             | CUSIP: 808513CB9<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  14272000 | PA      | $14294264.32  | 0.18%             | 2027-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Store Master Funding I-VII XIV XIX XX XXIV XXII                           | Store Master Funding I-VII XIV XIX XX XXIV XXII, Series 2024-1A, Class A3        | CUSIP: 86212XAN0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3667625 | PA      | $3718992.95   | 0.05%             | 2054-05-20      | Fixed         | 5.93%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                  | Angel Oak Mortgage Trust, Series 2024-10, Class A1                               | CUSIP: 034933AA9<br>LEI: 254900QN92XYN8GJBJ44 | Long             | ABS-MBS          | CORP              | US        |  14887394 | PA      | $14991330.50  | 0.19%             | 2069-10-25      | Variable      | 5.35%                 | Yes           |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                                                     | ARI Fleet Lease Trust, Series 2023-B, Class A2                                   | CUSIP: 04033GAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425195 | PA      | $428248.88    | 0.01%             | 2032-07-15      | Fixed         | 6.05%                 | Yes           |                  2 | On Loan: No      |
| Arthur J Gallagher & Co.                                                  | Arthur J Gallagher & Co.                                                         | CUSIP: 04316JAH2<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12396903.48  | 0.16%             | 2034-07-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                          | Boeing Co. (The)                                                                 | CUSIP: 097023CV5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |  24359000 | PA      | $24900783.38  | 0.31%             | 2040-05-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| SMBC Aviation Capital Finance DAC                                         | SMBC Aviation Capital Finance DAC                                                | CUSIP: 78448TAM4<br>LEI: 549300OD7VKRVNWB2J98 | Long             | DBT              | CORP              | IE        |  20000000 | PA      | $20570858.40  | 0.26%             | 2034-04-03      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| Raizen Fuels Finance SA                                                   | Raizen Fuels Finance SA                                                          | CUSIP: 75102XAD8<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |  17983000 | PA      | $13945816.50  | 0.17%             | 2035-01-17      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| BBCMS Mortgage Trust                                                      | BBCMS Mortgage Trust, Series 2022-C18, Class AS                                  | CUSIP: 054975AJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3226076 | PA      | $3446010.51   | 0.04%             | 2055-12-15      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                                                | Corebridge Financial, Inc.                                                       | CUSIP: 21871XAS8<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |  18000000 | PA      | $18804091.50  | 0.24%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                                                | Charles Schwab Corp. (The)                                                       | CUSIP: 808513CE3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  11266000 | PA      | $12025112.21  | 0.15%             | 2034-05-19      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| Fairfax Financial Holdings Ltd.                                           | Fairfax Financial Holdings Ltd.                                                  | CUSIP: 303901BJ0<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |    452000 | PA      | $427235.38    | 0.01%             | 2031-03-03      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Plains All American Pipeline LP                                           | Plains All American Pipeline LP                                                  | CUSIP: 72650RBS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6094000 | PA      | $6182795.73   | 0.08%             | 2036-01-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Affirm Asset Securitization Trust                                         | Affirm Asset Securitization Trust, Series 2024-X2, Class A                       | CUSIP: 00833QAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     15286 | PA      | $15291.48     | 0.00%             | 2029-12-17      | Fixed         | 5.22%                 | Yes           |                  2 | On Loan: No      |
| Banco Mercantil del Norte SA                                              | Banco Mercantil del Norte SA                                                     | CUSIP: N/A<br>LEI: 549300QTVYRPFHS0J362       | Long             | DBT              | CORP              | MX        |   9723000 | PA      | $9602520.36   | 0.12%             | 2032-01-24      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO Ltd.                                              | Bain Capital Credit CLO Ltd., Series 2021-4A, Class CR                           | CUSIP: 05685AAW8<br>LEI: 254900YJBP8866ZPO033 | Long             | ABS-CBDO         | CORP              | KY        |  29386111 | PA      | $29401979.50  | 0.37%             | 2034-10-20      | Floating      | 5.62%                 | Yes           |                  2 | On Loan: No      |
| OZLM Funding II Ltd.                                                      | OZLM Funding II Ltd., Series 2012-2A, Class C1R4                                 | CUSIP: 67108BCL7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   9000000 | PA      | $9011187.00   | 0.11%             | 2037-07-30      | Floating      | 5.67%                 | Yes           |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                                  | COLT Mortgage Loan Trust, Series 2024-5, Class A1                                | CUSIP: 19685AAA7<br>LEI: 213800AWBXHFGYDU9Q16 | Long             | ABS-MBS          | CORP              | US        |  12173773 | PA      | $12223949.68  | 0.15%             | 2069-08-25      | Variable      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| BDS LLC                                                                   | BDS LLC, Series 2025-FL16, Class B                                               | CUSIP: 05556XAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  26066885 | PA      | $26132041.79  | 0.33%             | 2043-07-19      | Floating      | 5.53%                 | Yes           |                  2 | On Loan: No      |
| American Tower Corp.                                                      | American Tower Corp.                                                             | CUSIP: 03027XCM0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20553399.60  | 0.26%             | 2035-01-31      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman Loan Advisers CLO 35 Ltd.                                | Neuberger Berman Loan Advisers CLO 35 Ltd., Series 2019-35A, Class CRR           | CUSIP: 64133CAU3<br>LEI: 549300MYVO80EQUJK294 | Long             | ABS-CBDO         | CORP              | KY        |  23750000 | PA      | $23664951.25  | 0.30%             | 2033-01-19      | Floating      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| Time Warner Cable LLC                                                     | Time Warner Cable LLC                                                            | CUSIP: 88732JBD9<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |   2031000 | PA      | $1566191.68   | 0.02%             | 2042-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                     | Bank of America Corp.                                                            | CUSIP: 06051GKY4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3059573.58   | 0.04%             | 2033-07-22      | Variable      | 5.01%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810TW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 198700000 | PA      | $197892781.25 | 2.48%             | 2043-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                             | CUSIP: 46647PCU8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3668354.00   | 0.05%             | 2033-01-25      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| LoanCore Issuer LLC                                                       | LoanCore Issuer LLC, Series 2025-CRE8, Class B                                   | CUSIP: 53947FAE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  26501500 | PA      | $26501465.55  | 0.33%             | 2042-08-17      | Floating      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                     | Bank of America Corp.                                                            | CUSIP: 06051GHM4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    579000 | PA      | $581749.46    | 0.01%             | 2029-07-23      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| CREST Ltd.                                                                | CREST Ltd., Series 2004-1A, Class G2                                             | CUSIP: 22608WAR0<br>LEI: 549300MJZTHEPDTYM573 | Long             | ABS-O            | CORP              | KY        |    917264 | PA      | $9.17         | 0.00%             | 2040-01-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Harbor Park CLO Ltd.                                                      | Harbor Park CLO Ltd., Series 2018-1A, Class DR2                                  | CUSIP: 41154XBC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  22888021 | PA      | $22903470.41  | 0.29%             | 2031-01-20      | Floating      | 6.17%                 | Yes           |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                                     | Toll Road Investors Partnership II LP                                            | CUSIP: 88948ABB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    307000 | PA      | $306321.62    | 0.00%             | 2026-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Dick's Sporting Goods, Inc.                                               | Dick's Sporting Goods, Inc.                                                      | CUSIP: 253393AF9<br>LEI: 529900SSBV5I4LWSK313 | Long             | DBT              | CORP              | US        |  17118000 | PA      | $15775663.27  | 0.20%             | 2032-01-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Plains All American Pipeline LP                                           | Plains All American Pipeline LP                                                  | CUSIP: 72650RBN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4057000 | PA      | $3951048.65   | 0.05%             | 2030-09-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| TRTX Issuer Ltd.                                                          | TRTX Issuer Ltd., Series 2025-FL7, Class B                                       | CUSIP: 87277LAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  16724537 | PA      | $16724513.59  | 0.21%             | 2043-06-18      | Floating      | 5.63%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                                            | NCL Corp. Ltd.                                                                   | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |  24750000 | PA      | $25363948.50  | 0.32%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Republic of Turkiye (The)                                                 | Republic of Turkiye (The)                                                        | CUSIP: N/A<br>LEI: 5493000PCHOG3B6S3Q85       | Long             | DBT              | NUSS              | TR        |   7668000 | PA      | $9770546.57   | 0.12%             | 2030-05-21      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AREIT Trust                                                               | AREIT Trust, Series 2022-CRE6, Class E                                           | CUSIP: 04002VAL5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4500000 | PA      | $4354259.58   | 0.05%             | 2037-01-20      | Floating      | 7.10%                 | Yes           |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                                     | Ashtead Capital, Inc.                                                            | CUSIP: 045054AQ6<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |  13008000 | PA      | $13444879.14  | 0.17%             | 2033-05-30      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| Rio Tinto Finance USA plc                                                 | Rio Tinto Finance USA plc                                                        | CUSIP: 76720AAU0<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |  19224000 | PA      | $19763937.18  | 0.25%             | 2035-03-14      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LLC                                                                       | LLC, Series 2025-FL19, Class B                                                   | CUSIP: 55287KAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  34783347 | PA      | $34892121.48  | 0.44%             | 2042-05-18      | Floating      | 6.02%                 | Yes           |                  2 | On Loan: No      |
| BMP                                                                       | BMP, Series 2024-MF23, Class D                                                   | CUSIP: 05593JAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10492715 | PA      | $10525504.73  | 0.13%             | 2041-06-15      | Floating      | 6.07%                 | Yes           |                  2 | On Loan: No      |
| STWD Ltd.                                                                 | STWD Ltd., Series 2022-FL3, Class D                                              | CUSIP: 78485KAL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2726869.75   | 0.03%             | 2038-11-15      | Floating      | 6.46%                 | Yes           |                  2 | On Loan: No      |
| Hartwick Park CLO Ltd.                                                    | Hartwick Park CLO Ltd., Series 2023-1A, Class BR                                 | CUSIP: 417403AQ5<br>LEI: 2549003E1ZAWJG55NM75 | Long             | ABS-CBDO         | CORP              | JE        |   4347826 | PA      | $4351812.96   | 0.05%             | 2037-01-20      | Floating      | 5.22%                 | Yes           |                  2 | On Loan: No      |
| Regal Rexnord Corp.                                                       | Regal Rexnord Corp.                                                              | CUSIP: 758750AN3<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |  14247000 | PA      | $15105632.21  | 0.19%             | 2030-02-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                            | Morgan Stanley Residential Mortgage Loan Trust, Series 2025-NQM9, Class A1       | CUSIP: 61779VAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  18370274 | PA      | $18462648.61  | 0.23%             | 2070-09-25      | Variable      | 5.02%                 | Yes           |                  2 | On Loan: No      |
| PMT Loan Trust                                                            | PMT Loan Trust, Series 2025-INV10, Class A36                                     | CUSIP: 69383EBK6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12300193 | PA      | $12350301.11  | 0.15%             | 2056-10-01      | Floating      | 5.05%                 | Yes           |                  2 | On Loan: No      |
| Dryden 86 CLO Ltd.                                                        | Dryden 86 CLO Ltd., Series 2020-86A, Class CR2                                   | CUSIP: 26245XBE6<br>LEI: 25490017VKY7XEFZL303 | Long             | ABS-CBDO         | CORP              | KY        |   3600000 | PA      | $3603564.00   | 0.05%             | 2034-07-17      | Floating      | 5.57%                 | Yes           |                  2 | On Loan: No      |
| Hartwick Park CLO Ltd.                                                    | Hartwick Park CLO Ltd., Series 2023-1A, Class CR                                 | CUSIP: 417403AS1<br>LEI: 2549003E1ZAWJG55NM75 | Long             | ABS-CBDO         | CORP              | JE        |  13000000 | PA      | $13008268.00  | 0.16%             | 2037-01-20      | Floating      | 5.37%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.                            | Arbor Realty Commercial Real Estate Notes Ltd., Series 2022-FL1, Class E         | CUSIP: 03880XAL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4500000 | PA      | $4499980.20   | 0.06%             | 2037-01-15      | Floating      | 7.46%                 | Yes           |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                                  | COLT Mortgage Loan Trust, Series 2025-1, Class A1                                | CUSIP: 196920AC6<br>LEI: 21380069FFOP8RZNF423 | Long             | ABS-MBS          | CORP              | US        |   5933854 | PA      | $6001187.49   | 0.08%             | 2070-01-25      | Variable      | 5.70%                 | Yes           |                  2 | On Loan: No      |
| Westinghouse Air Brake Technologies Corp.                                 | Westinghouse Air Brake Technologies Corp.                                        | CUSIP: 960386AM2<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |   7534000 | PA      | $7633539.13   | 0.10%             | 2028-09-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Invesco CLO Ltd.                                                          | Invesco CLO Ltd., Series 2022-2A, Class BR                                       | CUSIP: 46145XAQ9<br>LEI: 54930008L2A8UYGN7A86 | Long             | ABS-CBDO         | CORP              | JE        |  18489484 | PA      | $18492054.04  | 0.23%             | 2035-07-20      | Floating      | 5.35%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                                                   | Hyundai Capital America                                                          | CUSIP: 44891ABL0<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |  10896000 | PA      | $11638345.79  | 0.15%             | 2030-04-08      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Cellnex Finance Co. SA                                                    | Cellnex Finance Co. SA                                                           | CUSIP: 15118JAA3<br>LEI: 549300OUROMFTRFA7T23 | Long             | DBT              | CORP              | ES        |   1582000 | PA      | $1281024.50   | 0.02%             | 2041-07-07      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| OBX Trust                                                                 | OBX Trust, Series 2025-NQM16, Class A1                                           | CUSIP: 67122DAC7<br>LEI: 254900WI6P4MRT24JH23 | Long             | ABS-MBS          | CORP              | US        |  18777892 | PA      | $18850284.14  | 0.24%             | 2065-08-25      | Variable      | 4.91%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                                                   | Hyundai Capital America                                                          | CUSIP: 44891ACY1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   4963000 | PA      | $5114839.96   | 0.06%             | 2029-03-19      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.                            | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class D         | CUSIP: 03880RAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  15061500 | PA      | $15089265.88  | 0.19%             | 2036-11-15      | Floating      | 6.69%                 | Yes           |                  2 | On Loan: No      |
| Anglo American Capital plc                                                | Anglo American Capital plc                                                       | CUSIP: 034863BC3<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |   6305000 | PA      | $5343715.24   | 0.07%             | 2052-03-16      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Bacardi Ltd.                                                              | Bacardi Ltd.                                                                     | CUSIP: 05635JAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  10000000 | PA      | $9695809.80   | 0.12%             | 2043-06-15      | Fixed         | 5.90%                 | Yes           |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                        | T-Mobile USA, Inc.                                                               | CUSIP: 87264AAX3<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   9331000 | PA      | $8337633.31   | 0.10%             | 2040-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                              | Avolon Holdings Funding Ltd.                                                     | CUSIP: 05401AAP6<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   9944000 | PA      | $9653334.79   | 0.12%             | 2028-02-21      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Capital One Financial Corp.                                               | Capital One Financial Corp.                                                      | CUSIP: 14040HCY9<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   5330000 | PA      | $5558552.96   | 0.07%             | 2034-02-01      | Variable      | 5.82%                 | No            |                  2 | On Loan: No      |
| JBS NV                                                                    | JBS NV                                                                           | CUSIP: 472140AB8<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |  19843000 | PA      | $20851818.12  | 0.26%             | 2035-04-20      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Fairfax Financial Holdings Ltd.                                           | Fairfax Financial Holdings Ltd.                                                  | CUSIP: 303901BX9<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |  18722000 | PA      | $19496926.42  | 0.24%             | 2035-05-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO Ltd.                                              | Bain Capital Credit CLO Ltd., Series 2022-2A, Class CR                           | CUSIP: 05682GAW8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   8250000 | PA      | $8255898.75   | 0.10%             | 2035-04-22      | Floating      | 5.57%                 | Yes           |                  2 | On Loan: No      |
| ELM Trust                                                                 | ELM Trust, Series 2024-ELM, Class D15                                            | CUSIP: 26860XAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1503734.10   | 0.02%             | 2039-06-10      | Variable      | 6.90%                 | Yes           |                  2 | On Loan: No      |
| Brown & Brown, Inc.                                                       | Brown & Brown, Inc.                                                              | CUSIP: 115236AE1<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |   2157000 | PA      | $2084768.95   | 0.03%             | 2032-03-17      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                  | Angel Oak Mortgage Trust, Series 2024-12, Class A1                               | CUSIP: 034932AA1<br>LEI: 254900S8TF74AZOT0548 | Long             | ABS-MBS          | CORP              | US        |  13534031 | PA      | $13678868.60  | 0.17%             | 2069-10-25      | Variable      | 5.65%                 | Yes           |                  2 | On Loan: No      |
| OZLM Funding II Ltd.                                                      | OZLM Funding II Ltd., Series 2012-2A, Class BR4                                  | CUSIP: 67108BCJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  14200000 | PA      | $14225531.60  | 0.18%             | 2037-07-30      | Floating      | 5.42%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                           | Goldman Sachs Group, Inc. (The)                                                  | CUSIP: 38141GYN8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   6695000 | PA      | $6050136.19   | 0.08%             | 2032-10-21      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810RT7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11900000 | PA      | $7812164.12   | 0.10%             | 2046-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Anglo American Capital plc                                                | Anglo American Capital plc                                                       | CUSIP: 034863BD1<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |  20497000 | PA      | $21236346.67  | 0.27%             | 2033-05-02      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Trust                                        | Barclays Commercial Mortgage Trust, Series 2019-C5, Class A4                     | CUSIP: 05492JAW2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $478113.50    | 0.01%             | 2052-11-15      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| PFP Ltd.                                                                  | PFP Ltd., Series 2024-11, Class AS                                               | CUSIP: 69291WAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  35292589 | PA      | $35380848.45  | 0.44%             | 2039-09-17      | Floating      | 5.86%                 | Yes           |                  2 | On Loan: No      |
| ARDN Mortgage Trust                                                       | ARDN Mortgage Trust, Series 2025-ARCP, Class C                                   | CUSIP: 039961AE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11250000 | PA      | $11285156.25  | 0.14%             | 2035-06-15      | Floating      | 6.03%                 | Yes           |                  2 | On Loan: No      |
| Arrow Electronics, Inc.                                                   | Arrow Electronics, Inc.                                                          | CUSIP: 04273WAE1<br>LEI: 549300YNNLBXT8N8R512 | Long             | DBT              | CORP              | US        |  23547000 | PA      | $24522862.09  | 0.31%             | 2034-04-10      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LLC                                                                       | LLC, Series 2026-FL21, Class C                                                   | CUSIP: 55287NAL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  14176123 | PA      | $14177072.80  | 0.18%             | 2041-02-18      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Enbridge, Inc.                                                            | Enbridge, Inc.                                                                   | CUSIP: 29250NAZ8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1344000 | PA      | $1290743.84   | 0.02%             | 2029-11-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                                        | LPL Holdings, Inc.                                                               | CUSIP: 50212YAF1<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |  24858000 | PA      | $24155657.10  | 0.30%             | 2031-05-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                                            | Enterprise Fleet Financing LLC, Series 2023-3, Class A2                          | CUSIP: 29374LAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2912279 | PA      | $2948065.01   | 0.04%             | 2030-03-20      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| Enbridge, Inc.                                                            | Enbridge, Inc.                                                                   | CUSIP: 29250NCC7<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  14836000 | PA      | $15448674.28  | 0.19%             | 2034-04-05      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| OBX Trust                                                                 | OBX Trust, Series 2024-NQM14, Class A1                                           | CUSIP: 67119XAC8<br>LEI: 254900C7ZCEHM7Y5MX79 | Long             | ABS-MBS          | CORP              | US        |   6669814 | PA      | $6691341.08   | 0.08%             | 2064-09-25      | Variable      | 4.94%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                      | BANK, Series 2019-BN23, Class A3                                                 | CUSIP: 06541RBB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5777000 | PA      | $5486338.91   | 0.07%             | 2052-12-15      | Fixed         | 2.92%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd.                                           | Palmer Square Loan Funding Ltd., Series 2025-1A, Class C                         | CUSIP: 69704CAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   8875000 | PA      | $8876455.50   | 0.11%             | 2033-02-15      | Floating      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| VZ Secured Financing BV                                                   | VZ Secured Financing BV                                                          | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |  24183000 | PA      | $21836230.90  | 0.27%             | 2032-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                                                | AerCap Ireland Capital DAC                                                       | CUSIP: 00774MAX3<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   5000000 | PA      | $4625993.80   | 0.06%             | 2032-01-30      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                    | Truist Financial Corp.                                                           | CUSIP: 89788MAS1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |  18734000 | PA      | $19619345.42  | 0.25%             | 2035-01-24      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                     | Wells Fargo Commercial Mortgage Trust, Series 2017-C42, Class A4                 | CUSIP: 95001GAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3490000 | PA      | $3443960.27   | 0.04%             | 2050-12-15      | Fixed         | 3.59%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810UF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20350000 | PA      | $19855558.49  | 0.25%             | 2044-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                                         | Alliant Holdings Intermediate LLC                                                | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  16250000 | PA      | $16295955.00  | 0.20%             | 2027-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                        | T-Mobile USA, Inc.                                                               | CUSIP: 87264ACB9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   6156000 | PA      | $5631378.54   | 0.07%             | 2031-02-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| AREIT Trust                                                               | AREIT Trust, Series 2022-CRE6, Class B                                           | CUSIP: 04002VAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |   2957000 | PA      | $2942528.59   | 0.04%             | 2037-01-20      | Floating      | 5.55%                 | Yes           |                  2 | On Loan: No      |
| Brown & Brown, Inc.                                                       | Brown & Brown, Inc.                                                              | CUSIP: 115236AC5<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |   6452000 | PA      | $5799360.01   | 0.07%             | 2031-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| EURO                                                                      | EURO                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | XX        |         7 | OU      | $8.56         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 157000000 | PA      | $155540389.84 | 1.95%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JH North America Holdings, Inc.                                           | JH North America Holdings, Inc.                                                  | CUSIP: 46593WAA3<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |  16455000 | PA      | $16735228.65  | 0.21%             | 2031-01-31      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| LLC                                                                       | LLC, Series 2026-FL21, Class AS                                                  | CUSIP: 55287NAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  16865153 | PA      | $16880938.78  | 0.21%             | 2041-02-18      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                     | Wells Fargo Commercial Mortgage Trust, Series 2018-C44, Class A5                 | CUSIP: 95001JAX5<br>LEI: 549300AGZIS1CJS4RM30 | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1500339.15   | 0.02%             | 2051-05-15      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                          | Boeing Co. (The)                                                                 | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   9682000 | PA      | $9562495.95   | 0.12%             | 2050-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | U.S. Treasury 10 Year Ultra Note                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -518 | NC      | $959180.60    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DCP Midstream Operating LP                                                | DCP Midstream Operating LP                                                       | CUSIP: 23311VAK3<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |  26264000 | PA      | $24174744.24  | 0.30%             | 2032-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                      | GNMA                                                                             | CUSIP: 36179TG33<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     66625 | PA      | $60885.47     | 0.00%             | 2047-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Shackleton 2015-VII-R CLO Ltd.                                            | Shackleton 2015-VII-R CLO Ltd., Series 2015-7RA, Class BRR                       | CUSIP: 81883AAU3<br>LEI: 549300NCJRO2LKFZ8G86 | Long             | ABS-CBDO         | CORP              | KY        |  13700000 | PA      | $13715207.00  | 0.17%             | 2031-07-15      | Floating      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| BAT Capital Corp.                                                         | BAT Capital Corp.                                                                | CUSIP: 05526DBJ3<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   1869000 | PA      | $1861376.76   | 0.02%             | 2026-09-06      | Fixed         | 3.21%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                             | CUSIP: 46647PDG8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4049010.56   | 0.05%             | 2028-07-25      | Variable      | 4.85%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                                                | Corebridge Financial, Inc.                                                       | CUSIP: 21871XAM1<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   1412000 | PA      | $1146520.17   | 0.01%             | 2052-04-05      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                         | Philip Morris International, Inc.                                                | CUSIP: 718172DJ5<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |  16000000 | PA      | $16517001.92  | 0.21%             | 2034-02-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                            | Morgan Stanley                                                                   | CUSIP: 61747YFG5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   9774000 | PA      | $10118483.85  | 0.13%             | 2034-07-21      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero BBVA Mexico | BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero BBVA Mexico        | CUSIP: 07336UAA1<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |   8553000 | PA      | $9508045.09   | 0.12%             | 2038-06-29      | Variable      | 8.45%                 | Yes           |                  2 | On Loan: No      |
| MSWF Commercial Mortgage Trust                                            | MSWF Commercial Mortgage Trust, Series 2023-2, Class A5                          | CUSIP: 55361AAU8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7198942 | PA      | $7760436.44   | 0.10%             | 2056-12-15      | Variable      | 6.01%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                              | CUSIP: 912810TU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 141408000 | PA      | $134602740.00 | 1.69%             | 2043-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Berks County Municipal Authority (The)                                    | Berks County Municipal Authority (The), Series 2024 B-2                          | CUSIP: 084538JL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    637000 | PA      | $323988.26    | 0.00%             | 2044-06-30      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Jefferies Financial Group, Inc.                                           | Jefferies Financial Group, Inc.                                                  | CUSIP: 47233WLL1<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |  47674000 | PA      | $47059831.11  | 0.59%             | 2036-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bayview Financial Revolving Asset Trust                                   | Bayview Financial Revolving Asset Trust, Series 2005-E, Class M1                 | CUSIP: 073250BW1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     29324 | PA      | $68755.01     | 0.00%             | 2040-12-28      | Floating      | 5.39%                 | Yes           |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                                             | UBS Commercial Mortgage Trust, Series 2017-C7, Class A4                          | CUSIP: 90276WAS6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1052000 | PA      | $1042823.61   | 0.01%             | 2050-12-15      | Fixed         | 3.68%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                                                | Corebridge Financial, Inc.                                                       | CUSIP: 21871XAP4<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   4850000 | PA      | $4981137.94   | 0.06%             | 2052-12-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                      | Charter Communications Operating LLC                                             | CUSIP: 161175CK8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    956000 | PA      | $763548.26    | 0.01%             | 2053-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Store Capital LLC                                                         | Store Capital LLC                                                                | CUSIP: 862121AD2<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2655172.80   | 0.03%             | 2031-12-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| GreatAmerica Leasing Receivables Funding LLC                              | GreatAmerica Leasing Receivables Funding LLC, Series 2024-1, Class A3            | CUSIP: 39154TCJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4250000 | PA      | $4282848.25   | 0.05%             | 2028-01-18      | Fixed         | 4.98%                 | Yes           |                  2 | On Loan: No      |
| EQT Trust                                                                 | EQT Trust, Series 2024-EXTR, Class C                                             | CUSIP: 29439DAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    909091 | PA      | $927410.09    | 0.01%             | 2041-07-05      | Variable      | 6.05%                 | Yes           |                  2 | On Loan: No      |
| OBX Trust                                                                 | OBX Trust, Series 2025-NQM15, Class A1B                                          | CUSIP: 67122CAB1<br>LEI: 254900Y3YIZHUWMEGC78 | Long             | ABS-MBS          | CORP              | US        |   4485515 | PA      | $4512301.17   | 0.06%             | 2065-07-27      | Variable      | 5.14%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                              | CUSIP: 91282CEF4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 153000000 | PA      | $151177148.82 | 1.89%             | 2027-03-31      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-167420.64   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Humana, Inc.                                                              | Humana, Inc.                                                                     | CUSIP: 444859BV3<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |   6326000 | PA      | $6548657.42   | 0.08%             | 2033-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Arthur J Gallagher & Co.                                                  | Arthur J Gallagher & Co.                                                         | CUSIP: 04316JAF6<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10995473.70  | 0.14%             | 2034-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                                 | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 65342QAB8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9909075.00   | 0.12%             | 2027-09-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Energy Transfer LP                                                        | Energy Transfer LP                                                               | CUSIP: 29273VBK5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |  27836000 | PA      | $27805942.13  | 0.35%             | 2036-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| BANK5                                                                     | BANK5, Series 2025-5YR17, Class AS                                               | CUSIP: 06211GAP1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13546012 | PA      | $13980352.68  | 0.18%             | 2058-11-15      | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                           | TransDigm, Inc.                                                                  | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5090060.00   | 0.06%             | 2033-05-31      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Bain Capital Credit CLO Ltd.                                              | Bain Capital Credit CLO Ltd., Series 2020-3A, Class CRR                          | CUSIP: 05684CAZ8<br>LEI: 2549002RK7W6TK0Q0E16 | Long             | ABS-CBDO         | CORP              | KY        |  10440000 | PA      | $10441482.48  | 0.13%             | 2034-10-23      | Floating      | 5.57%                 | Yes           |                  2 | On Loan: No      |
| SMBC Aviation Capital Finance DAC                                         | SMBC Aviation Capital Finance DAC                                                | CUSIP: 78448TAP7<br>LEI: 549300OD7VKRVNWB2J98 | Long             | DBT              | CORP              | IE        |  25878000 | PA      | $25790019.20  | 0.32%             | 2035-11-26      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Select Receivables Trust                                         | GLS Auto Select Receivables Trust, Series 2023-2A, Class A2                      | CUSIP: 36269EAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    871773 | PA      | $874992.76    | 0.01%             | 2028-06-15      | Fixed         | 6.37%                 | Yes           |                  2 | On Loan: No      |
| LRECS LLC                                                                 | LRECS LLC, Series 2025-CRE1, Class B                                             | CUSIP: 50230AAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  23587830 | PA      | $23605067.99  | 0.30%             | 2043-08-19      | Floating      | 5.68%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                                              | Barclays plc                                                                     | CUSIP: 06738ECE3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   5972000 | PA      | $6828252.22   | 0.09%             | 2033-11-02      | Variable      | 7.44%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                              | CUSIP: 91282CHQ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  82100000 | PA      | $83183976.15  | 1.04%             | 2028-07-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Parallel Ltd.                                                             | Parallel Ltd., Series 2023-1A, Class A2R                                         | CUSIP: 69915NAL2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  30959594 | PA      | $31006033.39  | 0.39%             | 2036-07-20      | Floating      | 5.47%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-02

**Name of Applicant:** MFS Series Trust VIII

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer