# EDGAR Filing Document

**Accession Number:** 0001048286
**File Stem:** 0001048286-26-000022
**Filing Date:** 2026-6
**Character Count:** 277209
**Document Hash:** 2300503a80a2f8cfc686ad71fcc50b75
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001048286-26-000022.hdr.sgml**: 20260616

**ACCESSION NUMBER**: 0001048286-26-000022

**CONFORMED SUBMISSION TYPE**: 11-K

**PUBLIC DOCUMENT COUNT**: 38

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260616

**DATE AS OF CHANGE**: 20260616

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MARRIOTT INTERNATIONAL INC /MD/
- **CENTRAL INDEX KEY:** 0001048286
- **STANDARD INDUSTRIAL CLASSIFICATION:** HOTELS & MOTELS [7011]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 522055918
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 11-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-13881
- **FILM NUMBER:** 261095909

**BUSINESS ADDRESS:**
- **STREET 1:** 7750 WISCONSIN AVENUE
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814
- **BUSINESS PHONE:** 3013803000

**MAIL ADDRESS:**
- **STREET 1:** 7750 WISCONSIN AVENUE
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NEW MARRIOTT MI INC
- **DATE OF NAME CHANGE:** 19971023

?xml version='1.0' encoding='ASCII'? mar-20260616

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 11-K**

**ANNUAL REPORT**

**Pursuant to Section 15(d) of the**

**Securities Exchange Act of 1934**

(Mark One):

---

| | |
|:---|:---|
| 🗷 | **ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** |
|  | **For the plan year ended December 31, 2025** |
|  | **OR** |
| □ | **TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** |
|  | <br>**For the transition period from <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> to <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>** |

---

**Commission file number 1-13881**

 A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

**MARRIOTT RETIREMENT SAVINGS PLAN**

 B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

**MARRIOTT INTERNATIONAL, INC.**

**7750 Wisconsin Avenue**

**Bethesda, MD 20814**

------

**MARRIOTT RETIREMENT SAVINGS PLAN** 

**FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULE WITH REPORT OF**

**INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

December 31, 2025 and 2024

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| | **PAGE** |
| <u>[Report of Independent Registered Public Accounting Firm](#ie05f31d7bfc445f79df52bb92ccae114_7)</u> | <u>[3](#ie05f31d7bfc445f79df52bb92ccae114_7)</u> |
| Financial Statements |  |
| <u>[Statements of Net Assets Available for Benefits](#ie05f31d7bfc445f79df52bb92ccae114_10)</u> | <u>[4](#ie05f31d7bfc445f79df52bb92ccae114_10)</u> |
| <u>[Statement of Changes in Net Assets Available for Benefits](#ie05f31d7bfc445f79df52bb92ccae114_13)</u> | <u>[5](#ie05f31d7bfc445f79df52bb92ccae114_13)</u> |
| <u>[Notes to Financial Statements](#ie05f31d7bfc445f79df52bb92ccae114_16)</u> | <u>[6](#ie05f31d7bfc445f79df52bb92ccae114_16)</u> |
| <u>[Supplemental Schedule](#ie05f31d7bfc445f79df52bb92ccae114_46)</u> |  |
| <u>[Schedule H, Line 4i - Schedule of Assets (Held at End of Year)](#ie05f31d7bfc445f79df52bb92ccae114_46)</u> | <u>[15](#ie05f31d7bfc445f79df52bb92ccae114_46)</u> |
| <u>[Signatures](#ie05f31d7bfc445f79df52bb92ccae114_49)</u> | <u>[56](#ie05f31d7bfc445f79df52bb92ccae114_49)</u> |
| Exhibit Index |  |
| <u>[Ex 23.1 Consent of Independent Registered Public Accounting Firm - Cohn Reznick LLP](mar202511-kex231xcohnrezni.htm)</u> |  |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_10)</u>**

**<u>Report of Independent Registered Public Accounting Firm</u>**

To the Retirement Plan Committee and Plan Participants

Marriott Retirement Savings Plan

*Opinion on the Financial Statements* 

We have audited the accompanying statements of net assets available for benefits of the Marriott Retirement Savings Plan (the "Plan") as of December 31, 2025 and 2024, and the related statement of changes in net assets available for benefits for the year ended December 31, 2025 and the related notes to the financial statements (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2025 and 2024, and the changes in net assets available for benefits for the year December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.

*Basis for Opinion*

These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purposes of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

*Supplemental Information* 

The supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2025 has been subjected to audit procedures performed in conjunction with the audits of the Plan's financial statements. The supplemental information is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information in the accompanying schedule, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information in the accompanying schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ CohnReznick LLP

We have served as the Plan's auditor since 2024.

Bethesda, Maryland

June 16, 2026

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_10)</u>**

**MARRIOTT RETIREMENT SAVINGS PLAN** 

**STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS**

December 31, 2025 and 2024

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2025** | **2024** |
| **Assets** |  |  |
| Investments, at fair value | $12598187281 | $11550738669 |
| Receivables: |  |  |
| Notes receivable from participants | 146091270 | 125855112 |
| Employer contributions receivable | 5998142 | 9289168 |
| Total receivables | 152089412 | 135144280 |
| Total assets | 12750276693 | 11685882949 |
| **Liabilities** |  |  |
| Accrued expenses | 1100566 | 723336 |
| Total liabilities | 1100566 | 723336 |
| Net assets available for benefits | $12749176127 | $11685159613 |

---

The accompanying notes are an integral part of these financial statements.

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_13)</u>**

**MARRIOTT RETIREMENT SAVINGS PLAN** 

**STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS**

FOR THE YEAR ENDED DECEMBER 31, 2025

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

---

| | |
|:---|:---|
| Interest and dividends | $24380672 |
| Net appreciation in fair value of investments | 1619509886 |
| Interest income on notes receivable from participants | 11692344 |
| Participants contributions | 429505222 |
| Rollover contributions | 37281918 |
| Marriott International, Inc. contributions | 253227862 |
| Total additions | 2375597904 |
| **Deductions** |  |
| Benefits paid to participants | 1307480831 |
| Administrative expenses | 4100559 |
| Total deductions | 1311581390 |
| Net increase | 1064016514 |
| Net assets available for benefits at beginning of year | 11685159613 |
| Net assets available for benefits at end of year | $12749176127 |

---

The accompanying notes are an integral part of these financial statements.

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

**MARRIOTT RETIREMENT SAVINGS PLAN**

**NOTES TO FINANCIAL STATEMENTS**

December 31, 2025 and 2024

---

| | |
|:---|:---|
| **NOTE 1:** | **DESCRIPTION OF THE PLAN** |

---

The following description of the Marriott Retirement Savings Plan (the "Plan"), formerly Marriott International, Inc. Employees' Profit Sharing, Retirement and Savings Plan and Trust, sponsored by Marriott International, Inc. (the "Company") provides only general information. Participants should refer to the Plan document for a more complete description of the Plan's provisions.

**General**

The Plan is a defined contribution plan covering eligible employees of the Company and participating subsidiaries. It is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"), as amended. Effective January 1, 2024, the Plan became a safe harbor plan under Internal Revenue Services ("Code") Sections 401(k)(12) and 401(m)(11).

Effective October 1, 2024, participants can enroll in the Plan immediately upon becoming eligible. Prior to October 1, 2024, there was a 90-day waiting period for enrollment. Where no action is taken, newly hired, rehired, or newly eligible employees will be enrolled automatically after 90 days of service. Contributions will automatically start at 3% of pay, on a before-tax basis, and will be invested in the Vanguard Target Retirement Fund most appropriate for the associate's age (assuming a retirement age of 65). Associates can change or cancel enrollment at any time.

**Contributions**

Plan participants may contribute up to 80% of compensation per pay period to the Plan, subject to legal limits.

Participants may also contribute (rollover) amounts representing eligible rollover distributions from other eligible retirement plans, including qualified defined benefit or defined contribution plans or traditional IRAs.

Participants who are age 50 or older by the end of the applicable Plan year and have contributed the maximum contributions allowable by the Plan during the Plan year may make an additional catch-up contribution. The catch-up contribution is subject to the Code section 414(v) limitation of $7,500 for the year ended December 31, 2025.

The Company generally makes matching contributions equal to 100% of each eligible participant's contributions, up to 5% of the participant's eligible pay.

The Company also makes non-discretionary supplemental contributions at select locations to certain non-management, non-highly compensated hourly associates who are eligible for the Company matching contribution in the Plan but who are not, in most cases, in a collective bargaining agreement. For associates covered under collective bargaining agreements, the Company contributions vary based on the terms of the agreement. Contributions are subject to certain limitations.

**Participant Accounts**

Individual accounts are maintained for each participant. Each participant account is credited with the participant contributions, the Company matching contribution (if eligible), the Company supplemental contribution (if eligible), and the applicable earnings or losses for the investments selected by the participant. Each account is charged with an allocation of administrative expenses. The benefit to which a participant is entitled is the vested benefit in the participant's account.

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

**Vesting**

Company contributions generally are 100% vested for all participants, with the exception of a small number of collectively bargained groups that have negotiated for a vesting schedule. All participants become fully vested upon death, termination of employment due to disability, or attainment of age 65.

**Notes Receivable from Participants**

Participants generally may take only one loan from their accounts at a time. The minimum loan amount is $1,000. The maximum is the lesser of (i) 50% of the vested account balance, or (ii) $50,000 minus the highest outstanding loan balance in the past 12 months. Loan terms range from 1 to 4 years, or up to 10 years for the purchase of a primary residence. The loans are collateralized by the vested balance in the participant's account. The interest rate is fixed at the time the loan is granted. Interest rates on outstanding loans range from 4.25% to 10.50%. For loans issued on or after October 1, 2024, loans bear interest at the prime rate as of the 15th of the month preceding the date of the loan as published by Reuters, plus two percentage points. For loans issued on or after July 1, 2020, loans bear interest at the prime rate as of the 15th of the month preceding the date of the loan as published by the Wall Street Journal plus two percentage points. For the loans issued in third quarter of 2016, loans bear an interest rate as of the last business day of the prior calendar quarter as published by the Wall Street Journal plus one percentage point.

Principal and interest are paid ratably through weekly or bi-weekly, after-tax payroll deductions. In cases where payroll deductions are not available, loan repayments can be made via direct debit, certified check, cashiers' check, or money order.

**Payment of Benefits**

A participant can take a distribution from the Plan upon termination of employment, death, disability, or attainment of age 59.5. If a participant's account balance is greater than $5,000, the participant can elect to receive a lump sum amount, partial distributions or installment payments equal to the value of the participant's vested interest in his or her account; the participant can also elect to make a direct rollover or leave funds in the Plan. If a participant's account balance is at least $1,000, but not more than $5,000 and if the participant does not make a timely election, the participant's vested account balance will be rolled over into an individual retirement account established by the Plan. The Plan provides for automatic lump sum distribution for participants who terminate employment with a vested account balance of less than $1,000.

**Administration**

The Retirement Plan Committee serves as the named fiduciary of the Plan, except with respect to the Company Stock Fund. The Company Stock Fund (the "Stock Fund") is tracked on a unitized basis. Administration of the Plan is under the direction of (i) the Retirement Plan Committee, all of whom are members of senior management of the Company; (ii) a trustee; and (iii) a Plan administrator, who is an employee of the Company. Under section 404(c) of ERISA, the Plan offers participants the opportunity to direct their own investments.

The Retirement Plan Committee is responsible for selecting and overseeing these investment options, other than the Stock Fund, and has delegated certain responsibilities to the Plan trustee and the investment adviser it has retained. The Stock Fund Investment Committee is the sole named fiduciary of the Plan with regards to the investment of the Stock Fund.

**Administrative and Investment Expenses**

To the extent not paid by the Company, administrative and investment expenses are paid from the Plan's forfeiture account and/or by the Plan participants, allocated based on account balances. During the year ended December 31, 2025, administrative expenses for the amount of $162,379 were paid from forfeitures.

**Plan Termination**

Although it has not expressed any intent to do so, the Company has the right under the Plan to modify, suspend, or discontinue its contributions at any time and to terminate the Plan, subject to the provisions of ERISA.

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

**Investment Options**

Upon enrollment in the Plan, a participant may allocate employer and employee contributions to any of the available investment options. Participants may change their investment options on a daily basis, subject to any trading restrictions imposed by individual investment funds.

**Forfeitures** 

At December 31, 2025 and 2024, forfeited nonvested accounts totaled $1,993,042 and $1,952,405, respectively. It is expected that these accounts will be used to pay for certain plan expenses and/or to reduce employer contributions.During the year ended December 31, 2025 administrative expenses for the amount of $162,379 were paid from forfeitures.

---

| | |
|:---|:---|
| **NOTE 2:** | **SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** |

---

**Basis of Accounting**

The financial statements of the Plan are prepared on the accrual basis of accounting.

**Use of Estimates**

The preparation of financial statements in conformity with United States Generally Accepted Accounting Principles ("U.S. GAAP") requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Accordingly, ultimate results could differ from those estimates.

**Investments Valuation and Income Recognition**

The Plan's investments are stated at fair value.

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation (depreciation) includes the Plan's gains and losses on investments bought and sold, as well as held during the year.

**Payment of Benefits**

Benefits are recorded when paid.

**Fair Value Measurements**

Accounting Standards Codification ("ASC") 820, *Fair Value Measurements and Disclosures* establishes a framework for measuring fair value. This framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements), the next priority to quoted values based on observable inputs (Level 2 measurements), and the lowest priority to values based on unobservable inputs (Level 3 measurements).The three levels of the fair value hierarchy under ASC 820 are briefly described below:

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| | |
|:---|:---|
| Level 1 | Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access at the measurement date. For example, stocks listed on a recognized exchange or listed mutual funds. |
| Level 2 | Inputs to the valuation methodology include: |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Quoted prices for similar assets or liabilities in active markets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Quoted prices for identical or similar assets or liabilities in inactive markets;

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Inputs other than quoted prices that are observable for the asset or liability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If the asset or liability has a specified contractual term, the Level 2 input must be observable for substantially the full term of the asset or liability.

---

| | |
|:---|:---|
| Level 3 | Level 3 inputs include unobservable inputs that reflect our assumptions about what factors market participants would use in pricing the asset or liability. We develop these inputs based on the best information available, including our own data. |

---

Valuation techniques used need to maximize the use of observable inputs and minimize the use of &nbsp;&nbsp;&nbsp;&nbsp;unobservable inputs.

Following is a description of the valuation methodologies used for assets measured at fair value as of December 31, 2025 and 2024.

*Cash and Cash Equivalents –* The Plan considers all highly liquid investments with an initial maturity of three months or less at date of purchase to be cash equivalents.

*Corporate Bonds –* Valued using pricing models maximizing the use of observable inputs for similar securities. This includes basing value on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for identical or similar bonds, the bond is valued under a discounted cash flows approach that maximizes observable inputs, such as current yields of similar instruments, but includes adjustments for certain risks that may not be observable, such as credit and liquidity risks or a broker quote if available.

*Common and Preferred Stock –* Securities are priced at the closing price reported on the active market on which individual securities are traded, or inputs other than quoted prices that are observable for the asset or liability.

*Government Debt Securities –* Valued using pricing models maximizing the use of observable inputs for similar securities.

*Mutual and Registered Investment Funds –* Valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-end mutual funds that are registered with the Securities and Exchange Commission. These funds are required to publish their daily net asset value ("NAV") and to transact at that price. The mutual and registered investment funds held by the Plan are deemed to be actively traded.

*Common Collective Trust* – Valued at the NAV of units of a collective trust. The NAV, as provided by the custodian, is used as a practical expedient to estimate fair value. The NAV is based on the fair value of the underlying investments held by the fund less its liabilities.

The Company Stock Fund (the "Stock Fund") is tracked on a unitized basis. The Stock Fund consists of Marriott International, Inc. common stock and funds held in Fidelity Treasury Portfolio and Northern Trust Company Collective Short-Term Investment Fund respectively for years ended December 31, 2025 and 2024, sufficient to meet the Stock Fund's daily cash needs, as well as interest and dividends receivable. Unitizing the Stock Fund allows for daily trades. The value of a unit reflects the combined market value of Marriott International, Inc. common stock, valued at its quoted market price, and the cash investments and receivables held by the Stock Fund. At December 31, 2025, 9,396,383 units were outstanding with a value of $210.76 per unit. At December 31, 2024, 10,602,689 units were outstanding with a value of $189.60 per unit.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in valuation methodologies from December 31, 2024 to December 31, 2025.

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

**Notes Receivable from Participants**

Notes receivable from participants are recorded at principal less repayments plus accrued interest. Interest income is recorded on the accrual basis. A loan generally is considered in default if (i) a payment is not made within 90 days after the due date, (ii) an outstanding loan balance is not repaid by the original due date, or (iii) there is a material misrepresentation in connection with the loan application. If the loan is deemed to be in default, the participant loan balance is reduced, and a benefit payment is recorded.

**Contributions**

Contributions from Plan participants and the matching contributions from the Company are recorded in the year in which the employee contributions are withheld from compensation.

**Expenses**

Certain expenses of maintaining the Plan are paid directly by the Company and are excluded from these financial statements. Fees related to the administration of notes receivable from participants are charged directly to the participant's account and are included in administrative expenses. Investment related expenses are included in the "Net appreciation in fair value of investments" caption of the Statement of Changes in Net Assets Available for Benefits.

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

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| | |
|:---|:---|
| **NOTE 3:** | **FAIR VALUE MEASUREMENTS** |

---

The following tables present the investments of the Plan that are measured at fair value on a recurring basis at December 31, 2025 and 2024.

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| | | | | |
|:---|:---|:---|:---|:---|
| | Assets at Fair Value as of December 31, 2025 | Assets at Fair Value as of December 31, 2025 | Assets at Fair Value as of December 31, 2025 | Assets at Fair Value as of December 31, 2025 |
| | Level 1 | Level 2 | Level 3 | Total |
| Cash and cash equivalents | $14509693 | $— | $— | $14509693 |
| Corporate bonds |  | 593950900 |  | 593950900 |
| Preferred stock | 5629831 | 1068167 |  | 6697998 |
| Common stock - Marriott International, Inc. | 1953929059 |  |  | 1953929059 |
| Common stock - others | 2425186559 | 161704 |  | 2425348263 |
| Foreign government debt securities |  | 1967625 |  | 1967625 |
| U.S. government debt securities |  | 519432904 |  | 519432904 |
| Mutual and registered investment funds | 380513736 |  |  | 380513736 |
| Total assets in the fair value hierarchy | 4779768878 | 1116581300 |  | 5896350178 |
| Investments measured at net asset value <sup>(a)</sup> |  |  |  | 6701837103 |
| Total investments at fair value |  |  |  | $12598187281 |
|  | Assets at Fair Value as of December 31, 2024 | Assets at Fair Value as of December 31, 2024 | Assets at Fair Value as of December 31, 2024 | Assets at Fair Value as of December 31, 2024 |
|  | Level 1 | Level 2 | Level 3 | Total |
| Cash and cash equivalents | $18472459 | $— | $— | $18472459 |
| Corporate bonds |  | 578350781 |  | 578350781 |
| Preferred stock | 5588806 | 906374 |  | 6495180 |
| Common stock - Marriott International, Inc. | 1983658937 |  |  | 1983658937 |
| Common stock - others | 2424616428 | 107399 |  | 2424723827 |
| Foreign government debt securities |  | 2662816 |  | 2662816 |
| U.S. government debt securities |  | 520647825 |  | 520647825 |
| Mutual and registered investment funds | 298193495 |  |  | 298193495 |
| Total assets in the fair value hierarchy | 4730530125 | 1102675195 |  | 5833205320 |
| Investments measured at net asset value <sup>(a)</sup> |  |  |  | 5717533349 |
| Total investments at fair value |  |  |  | $11550738669 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(a)</sup>In accordance with Subtopic 820-10, certain investments that were measured at NAV per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the Statements of Net Assets available for Benefits.

There were no Level 3 investments at December 31, 2025 and 2024.

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

The following table summarizes investments for which fair value is measured using NAV per share practical expedient as of December 31, 2025 and 2024. There are no participant redemption restrictions for these investments; the redemption notice period is applicable only to the Plan. As of December 31, 2025 and 2024, there were no unfunded commitments.

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| | | | | |
|:---|:---|:---|:---|:---|
| | December 31, 2025 | December 31, 2024 | Redemption | Redemption |
| | Fair Value | Fair Value | Frequency (if currently eligible) | Notice Period |
| Arrowstreet International Equity EAFE CIT Class B | $158557476 | $117378902 | Daily | 7 days |
| Axiom International Small Cap Trust 2 | 26139489 | 18096670 | Daily | 30 days |
| Fidelity Contrafund CP Class F | 829616539 | 744447041 | Daily | 30 days |
| FIAM Emerging Markets Equity Small Cap Commingled | 38322754 | 29938189 | Daily | 30 days |
| Fidelity Blue Chip Growth Fund | 353282509 | 333684687 | Daily | 30 days |
| Northern Trust Collective S&P 500 Index Fund - DC | 866728950 | 775888038 | Daily | 30 days |
| Northern Trust Collective S&P 400 Index Fund - DC | 20821166 | 24291536 | Daily | 30 days |
| Northern Trust Collective Russell 2000 Index Fund | 10293837 | 9427495 | Daily | 30 days |
| Northern Trust Collective Russell 1000 Index Fund - DC | 19279841 | 20072185 | Daily | 31 days |
| Vanguard Target 2020 | 28311626 | 23879325 | Daily | 60 days |
| Vanguard Target 2025 | 767219826 | 742454137 | Daily | 60 days |
| Vanguard Target 2030 | 216074761 | 166525657 | Daily | 60 days |
| Vanguard Target 2035 | 1092162283 | 917745784 | Daily | 60 days |
| Vanguard Target 2040 | 150029955 | 98134512 | Daily | 60 days |
| Vanguard Target 2045 | 962645641 | 789589923 | Daily | 60 days |
| Vanguard Target 2050 | 139028044 | 90741392 | Daily | 60 days |
| Vanguard Target 2055 | 504690716 | 382484586 | Daily | 60 days |
| Vanguard Target 2060 | 101971357 | 61841914 | Daily | 60 days |
| Vanguard Target 2065 | 88693892 | 52733203 | Daily | 60 days |
| Vanguard Target 2070 | 28665706 | 13017923 | Daily | 60 days |
| Vanguard Target Retirement Income | 299300735 | 305160250 | Daily | 60 days |
|  | $6701837103 | $5717533349 |  |  |

---

---

| | |
|:---|:---|
| **NOTE 4:** | **PARTY-IN-INTEREST** |

---

The Plan may, at the direction of Plan participants, invest its assets in securities issued by the Company. The Plan through the Stock Fund held 6,298,121 and 7,111,418 shares of common stock of the Company as of December 31, 2025 and 2024, respectively. There were dividends of $18,659,067 on Marriott International, Inc. common stock for the year ended December 31, 2025. The closing share price as listed on the Nasdaq stock exchange as of December 31, 2025 and 2024 was $310.24 and $278.94, respectively. During the 2025 plan year, the Plan acquired 297,793 shares of Marriott International, Inc. common stocks valued at $81,215,839 and sold 1,111,090 shares valued at $310,878,634.

Certain Plan investments were invested in funds managed by Fidelity. Fidelity is the trustee effective October 1, 2024, and as defined by the Plan, and therefore, these transactions qualify as party-in-interest transactions.

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | |
|:---|:---|
| **NOTE 5:** | **INCOME TAX STATUS** |

---

The Plan received its most recent determination letter from the Internal Revenue Service ("IRS") dated December 16, 2019 stating that the Plan is qualified under Section 401(a) of the Code, and therefore, the related Trust is exempt from taxation under section 501(a) of the Code. Subsequent to this determination by the IRS, the Plan was amended, and Plan management believes that the Plan is designed and is currently being operated in compliance with the applicable requirements of the Code, and that the Plan and related Trust continue to be tax exempt.

U.S. GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no IRS audits for any tax periods in progress.

As of the date these financial statements were available to be issued, the nondiscrimination testing for the Plan year ended December 31, 2025, had not yet been completed. The Plan Administrator is in the process of completing the required testing. If the Plan fails any of the applicable tests, corrective actions, such as the return of excess contributions or qualified nonelective contributions, may be required. The financial impact of any such corrective actions, is not considered to be significant.

---

| | |
|:---|:---|
| **NOTE 6:** | **RISKS AND UNCERTAINTIES** |

---

The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term, and that such changes could materially affect participants' account balances and the amounts reported in the Statements of Net Assets available for Benefits.

---

| | |
|:---|:---|
| **NOTE 7:** | **RECONCILIATION OF FINANCIAL STATEMENTS AND FORM 5500** |

---

The following is a reconciliation of net assets available for benefits as reported in the financial statements to the Form 5500:

---

| | | |
|:---|:---|:---|
| | **December 31** | **December 31** |
| | **2025** | **2024** |
| Net assets available for benefits as reported in financial statements | $12749176127 | $11685159613 |
| Loans deemed as distribution for financial statements reporting purposes |  | 24587250 |
| Deemed distributions during the year for Form 5500 purposes |  | (24225939) |
| Net assets available for benefits as reported in Form 5500 | $12749176127 | $11685520924 |

---

The following is a reconciliation of benefits paid to participants as reported in the financial statements to the Form 5500 for the year ended December 31, 2025:

---

| | |
|:---|:---|
| Benefits paid to participants as reported in the financial statements | $1307480831 |
| Corrective distributions for 2024 non-discrimination testing | (18637) |
| Benefits paid to participants as reported in the Form 5500 | $1307462194 |

---

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

The following is a reconciliation of notes receivable from participants as reported in the financial statements to the Form 5500:

---

| | | |
|:---|:---|:---|
| | **December 31** | **December 31** |
| | **2025** | **2024** |
| Notes receivable from participants per financial statements | $146091270 | $125855112 |
| Loans deemed as distribution for the purpose of financial statements |  | 24587250 |
| Deemed distributions during the year for Form 5500 purposes |  | (24225939) |
| Notes receivable from participants per Form 5500 | $146091270 | $126216423 |

---

The following is a reconciliation of the change in net assets available for benefits as reported in the financial statements to the Form 5500 for the year ended December 31, 2025:

---

| | |
|:---|:---|
| Net increase in net assets available for benefits as reported in the financial statements | $1064016514 |
| Change in loans deemed as distribution for financial statements reporting purposes | (24587250) |
| Change in loans deemed as distribution for Form 5500 purposes | 24225939 |
| Net increase in net assets available for benefits as reported in the Form 5500 | $1063655203 |

---

---

| | |
|:---|:---|
| **NOTE 8:** | **SUBSEQUENT EVENTS** |

---

The Plan has evaluated events subsequent to December 31, 2025 and through June 16, 2026, the date the financial statements were issued and determined that there were no events that require adjustments to these financial statements.

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

**SUPPLEMENTAL SCHEDULE**

**MARRIOTT RETIREMENT SAVINGS PLAN** 

**EIN: 52-2055918; Plan No.: 004**

**Schedule H, Line 4i - Schedule of Assets (Held at End of Year)**

December 31, 2025

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
| \* | PARTICIPANT LOANS | PARTICIPANT LOANS | 4.25% TO 10.5% | NA | VAR | $146091270 |
|  | CASH & CASH EQUIVALENTS |  |  |  |  | 14509693 |
|  | NA | CASH |  |  |  | 8514052 |
|  | NA | FUTURES CASH COLLATERAL |  |  |  | 1668025 |
|  | NA | NET PAYABLES AND RECEIVABLES |  |  |  | 4327616 |
|  | COMMON STOCKS |  |  |  |  | 4379277322 |
|  | AAON INC | AAON INC |  | **14000** |  | 1067500 |
|  | ABBVIE INC | ABBVIE INC |  | 25770 |  | 5888188 |
|  | ABIVAX SA | ABIVAX SA |  | 7876 |  | 1062118 |
|  | ABM INDUSTRIES INC | ABM INDUSTRIES INC |  | 45063 |  | 1906164 |
|  | ADAPTIVE BIOTECHNOLOGIES CORP | ADAPTIVE BIOTECHNOLOGIES CORP |  | 55690 |  | 904406 |
|  | ADIENT PLC | ADIENT PLC |  | 134412 |  | 2576678 |
|  | ADOBE INC | ADOBE INC |  | 14200 |  | 4969858 |
|  | ADVANCE AUTO PARTS INC | ADVANCE AUTO PARTS INC |  | 68438 |  | 2689613 |
|  | ADVANCED MICRO DEVICES INC | ADVANCED MICRO DEVICES INC |  | 16630 |  | 3561481 |
|  | ADVANCED MICRO DEVICES INC | ADVANCED MICRO DEVICES INC |  | 923 |  | 197670 |
|  | ADYEN BV ADR | ADYEN BV ADR |  | 69626 |  | 1111927 |
|  | AEBI SCHMIDT HOLDING AG | AEBI SCHMIDT HOLDING AG |  | 204669 |  | 2589063 |
|  | AEGON LTD (NY REGD) NEW YORK REGISTERED SHARES | AEGON LTD (NY REGD) NEW YORK REGISTERED SHARES |  | 550874 |  | 4247239 |
|  | AEROVIRONMENT INC | AEROVIRONMENT INC |  | 2698 |  | 652619 |
|  | AGILENT TECHNOLOGIES INC | AGILENT TECHNOLOGIES INC |  | 81400 |  | 11076098 |
|  | AGILYSYS INC | AGILYSYS INC |  | 3375 |  | 401085 |
|  | AIR PRODUCTS & CHEMICALS INC | AIR PRODUCTS & CHEMICALS INC |  | 52000 |  | 12845040 |
|  | ALCON INC | ALCON INC |  | 19900 |  | 1568319 |
|  | ALIGN TECHNOLOGY INC | ALIGN TECHNOLOGY INC |  | 17900 |  | 2795085 |
|  | ALKAMI TECHNOLOGY INC | ALKAMI TECHNOLOGY INC |  | 54500 |  | 1257315 |
|  | ALNYLAM PHARMACEUTICALS INC | ALNYLAM PHARMACEUTICALS INC |  | 10700 |  | 4254855 |
|  | ALNYLAM PHARMACEUTICALS INC | ALNYLAM PHARMACEUTICALS INC |  | 17813 |  | 7083339 |
|  | ALPHABET INC CL A | ALPHABET INC CL A |  | 115850 |  | 36261050 |
|  | ALPHABET INC CL A | ALPHABET INC CL A |  | 41310 |  | 12930030 |
|  | ALPHABET INC CL A | ALPHABET INC CL A |  | 88700 |  | 27763100 |
|  | ALPHABET INC CL C | ALPHABET INC CL C |  | 56500 |  | 17729700 |
|  | AMAZON.COM INC | AMAZON.COM INC |  | 122280 |  | 28224670 |
|  | AMAZON.COM INC | AMAZON.COM INC |  | 32027 |  | 7392472 |
|  | AMAZON.COM INC | AMAZON.COM INC |  | 104400 |  | 24097608 |
|  | AMERICAN ELECTRIC POWER CO INC | AMERICAN ELECTRIC POWER CO INC |  | 49300 |  | 5684783 |
|  | AMERICAN WOODMARK | AMERICAN WOODMARK |  | 40222 |  | 2167966 |
|  | AMERISAFE INC | AMERISAFE INC |  | 13350 |  | 512774 |
|  | AMETEK INC NEW | AMETEK INC NEW |  | 36630 |  | 7520505 |
|  | AMPHENOL CORPORATION CL A | AMPHENOL CORPORATION CL A |  | 32473 |  | 4388401 |
|  |  | AMPHENOL CORPORATION CL A |  | 40500 |  | 5473170 |
|  | AMPHENOL CORPORATION CL A | ANHEUSER-BUSCH INBEV SPN ADR |  | 210500 |  | 13480420 |
|  | AON PLC | AON PLC |  | 32100 |  | 11327448 |
|  | APPLE INC | APPLE INC |  | 178376 |  | 48493299 |
|  | APPLE INC | APPLE INC |  | 59454 |  | 16163164 |
|  | APPLIED DIGITAL CORP | APPLIED DIGITAL CORP |  | 13949 |  | 342029 |

---

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | APPLOVIN CORP | APPLOVIN CORP |  | 2574 |  | 1734413 |
|  | ARCELLX INC | ARCELLX INC |  | 10138 |  | 660998 |
|  | ARCELLX INC | ARCELLX INC |  | 25800 |  | 1682160 |
|  | ARCHER DANIELS MIDLAND CO | ARCHER DANIELS MIDLAND CO |  | 99800 |  | 5737502 |
|  | ARES MANAGEMENT CORP CL A | ARES MANAGEMENT CORP CL A |  | 2384 |  | 385326 |
|  | ARGAN INC | ARGAN INC |  | 1388 |  | 434888 |
|  | ARGENX SE SPONSORED ADR | ARGENX SE SPONSORED ADR |  | 1662 |  | 1397659 |
|  | ARISTA NETWORKS INC | ARISTA NETWORKS INC |  | 20761 |  | 2720314 |
|  | ARTHUR J GALLAGHAR AND CO | ARTHUR J GALLAGHAR AND CO |  | 4700 |  | 1216313 |
|  | ASCENDIS PHARMA AS | ASCENDIS PHARMA AS |  | 90318 |  | 19259410 |
|  | ASCENDIS PHARMA AS | ASCENDIS PHARMA AS |  | 3597 |  | 767024 |
|  | ASCENDIS PHARMA AS | ASCENDIS PHARMA AS |  | 16100 |  | 3433164 |
|  | ASSOCIATED BANC CORP | ASSOCIATED BANC CORP |  | 70514 |  | 1816441 |
|  | ASSURANT INC | ASSURANT INC |  | 36000 |  | 8670600 |
|  | ASTERA LABS INC | ASTERA LABS INC |  | 6812 |  | 1133244 |
|  | ATLASSIAN CORP PLC CLS A | ATLASSIAN CORP PLC CLS A |  | 18881 |  | 3061365 |
|  | ATRICURE INC | ATRICURE INC |  | 33500 |  | 1325260 |
|  | AURORA INNOVATION INC | AURORA INNOVATION INC |  | 168689 |  | 647766 |
|  | AVANTOR INC | AVANTOR INC |  | 652600 |  | 7478796 |
|  | AVANTOR INC | AVANTOR INC |  | 323900 |  | 3711894 |
|  | AVERY DENNISON CORP | AVERY DENNISON CORP |  | 28700 |  | 5219956 |
|  | AVNET INC | AVNET INC |  | 41627 |  | 2001426 |
|  | AXON ENTERPRISE INC | AXON ENTERPRISE INC |  | 19404 |  | 11020114 |
|  | BAKER HUGHES CO | BAKER HUGHES CO |  | 257800 |  | 11740212 |
|  | BALDWIN INSURANCE GROUP INC/THE | BALDWIN INSURANCE GROUP INC/THE |  | 45850 |  | 1101776 |
|  | BALL CORP | BALL CORP |  | 62469 |  | 3308983 |
|  | BANCFIRST CORP | BANCFIRST CORP |  | 6700 |  | 710334 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION |  | 173770 |  | 9557350 |
|  | BANK OF NEW YORK MELLON CORP | BANK OF NEW YORK MELLON CORP |  | 164400 |  | 19085196 |
|  | BAXTER INTL INC | BAXTER INTL INC |  | 344300 |  | 6579573 |
|  | BELLRING BRANDS INC | BELLRING BRANDS INC |  | 21500 |  | 574695 |
|  | BIOGEN INC | BIOGEN INC |  | 10300 |  | 1812697 |
|  | BIOMARIN PHARMACEUTICAL INC | BIOMARIN PHARMACEUTICAL INC |  | 91700 |  | 5449731 |
|  | BIONTECH SE ADR | BIONTECH SE ADR |  | 21000 |  | 1999200 |
|  | BIRKENSTOCK HOLDING LTD | BIRKENSTOCK HOLDING LTD |  | 95293 |  | 3897484 |
|  | BLOCK INC CL A | BLOCK INC CL A |  | 65456 |  | 4260531 |
|  | BLOOM ENERGY CORP CL A | BLOOM ENERGY CORP CL A |  | 6099 |  | 529942 |
|  | BOEING CO | BOEING CO |  | 6796 |  | 1475548 |
|  | BOOZ ALLEN HAMILTON HLDG CL A | BOOZ ALLEN HAMILTON HLDG CL A |  | 56200 |  | 4741032 |
|  | BRADY CORPORATION CL A | BRADY CORPORATION CL A |  | 10300 |  | 807211 |
|  | BRAZE INC | BRAZE INC |  | 48700 |  | 1669923 |
|  | BREAD FINANCIAL HOLDINGS | BREAD FINANCIAL HOLDINGS |  | 23431 |  | 1734597 |
|  | BRIDGEBIO PHARMA INC | BRIDGEBIO PHARMA INC |  | 23490 |  | 1796750 |
|  | BRINKER INTERNATIONAL INC | BRINKER INTERNATIONAL INC |  | 3500 |  | 502320 |
|  | BRISTOL-MYERS SQUIBB CO | BRISTOL-MYERS SQUIBB CO |  | 39500 |  | 2130630 |
|  | BROADCOM INC | BROADCOM INC |  | 47170 |  | 16325537 |
|  | BROADCOM INC | BROADCOM INC |  | 26115 |  | 9038402 |
|  | BROADRIDGE FINANCIAL SOL | BROADRIDGE FINANCIAL SOL |  | 6300 |  | 1405971 |
|  | BROOKFIELD CORP CL A | BROOKFIELD CORP CL A |  | 176750 |  | 8111058 |
|  | BRUKER CORP | BRUKER CORP |  | 21500 |  | 1012865 |
|  | BRUKER CORP | BRUKER CORP |  | 28446 |  | 1340091 |
|  | BULLISH | BULLISH |  | 9370 |  | 354842 |
|  | BURLINGTON STORES INC | BURLINGTON STORES INC |  | 26606 |  | 7685143 |
|  | BWX TECHNOLOGIES INC | BWX TECHNOLOGIES INC |  | 18500 |  | 3197540 |
|  | CALIX NETWORKS INC | CALIX NETWORKS INC |  | 19704 |  | 1042933 |
|  | CAPITAL ONE FINANCIAL CORP | CAPITAL ONE FINANCIAL CORP |  | 57466 |  | 13927460 |
|  | CARIS LIFE SCIENCES INC | CARIS LIFE SCIENCES INC |  | 26500 |  | 714970 |
|  | CARIS LIFE SCIENCES INC | CARIS LIFE SCIENCES INC |  | 57786 |  | 1559066 |
|  | CARPENTER TECHNOLOGY CORP | CARPENTER TECHNOLOGY CORP |  | 5566 |  | 1752399 |

---

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | CARRIER GLOBAL CORP | CARRIER GLOBAL CORP |  | 87800 |  | 4639352 |
|  | CASEY GENERAL STORES | CASEY GENERAL STORES |  | 7233 |  | 3997751 |
|  | CAVA GROUP INC | CAVA GROUP INC |  | 12300 |  | 721887 |
|  | CBOE GLOBAL MARKETS INC | CBOE GLOBAL MARKETS INC |  | 18300 |  | 4593300 |
|  | CCC INTELLIGENT SOLUTIONS HOLD CL A | CCC INTELLIGENT SOLUTIONS HOLD CL A |  | 631336 |  | 5019121 |
|  | CELANESE CORP | CELANESE CORP |  | 91100 |  | 3851708 |
|  | CELSIUS HOLDINGS INC | CELSIUS HOLDINGS INC |  | 15000 |  | 686100 |
|  | CELSIUS HOLDINGS INC | CELSIUS HOLDINGS INC |  | 14672 |  | 671097 |
|  | CENCORA INC | CENCORA INC |  | 23100 |  | 7802025 |
|  | CENTRAL BANCOMPANY INC | CENTRAL BANCOMPANY INC |  | 48225 |  | 1163187 |
|  | CHARTER COMMUNICATIONS INC A | CHARTER COMMUNICATIONS INC A |  | 84600 |  | 17660250 |
|  | CHENIERE ENERGY INC | CHENIERE ENERGY INC |  | 26900 |  | 5229091 |
|  | CHIPOTLE MEXICAN GRILL INC | CHIPOTLE MEXICAN GRILL INC |  | 29850 |  | 1104450 |
|  | CIENA CORP | CIENA CORP |  | 4060 |  | 949512 |
|  | CIGNA GROUP (THE) | CIGNA GROUP (THE) |  | 2850 |  | 784406 |
|  | CIGNA GROUP (THE) | CIGNA GROUP (THE) |  | 65300 |  | 17972519 |
|  | CNO FINANCIAL GROUP INC | CNO FINANCIAL GROUP INC |  | 51163 |  | 2172893 |
|  | COGENT BIOSCIENCES INC | COGENT BIOSCIENCES INC |  | 28082 |  | 997473 |
|  | COGNIZANT TECH SOLUTIONS CL A | COGNIZANT TECH SOLUTIONS CL A |  | 105900 |  | 8789700 |
|  | COLUMBIA BANKING SYSTEMS INC | COLUMBIA BANKING SYSTEMS INC |  | 84188 |  | 2353055 |
|  | COMCAST CORP CL A | COMCAST CORP CL A |  | 655700 |  | 19598873 |
|  | COMFORT SYSTEMS USA INC | COMFORT SYSTEMS USA INC |  | 2317 |  | 2162433 |
|  | COMMERCE BANCSHARES INC | COMMERCE BANCSHARES INC |  | 12000 |  | 628080 |
|  | COMMVAULT SYSTEMS INC | COMMVAULT SYSTEMS INC |  | 11500 |  | 1441640 |
|  | CONCENTRIX CORP | CONCENTRIX CORP |  | 57939 |  | 2409104 |
|  | CONFLUENT INC | CONFLUENT INC |  | 61500 |  | 1859760 |
|  | CONOCOPHILLIPS | CONOCOPHILLIPS |  | 66400 |  | 6215704 |
|  | CONSTRUCTION PARTNERS INC CL A | CONSTRUCTION PARTNERS INC CL A |  | 13331 |  | 1447080 |
|  | COOPER COMPANIES INC | COOPER COMPANIES INC |  | 92000 |  | 7540320 |
|  | CORNING INC | CORNING INC |  | 6600 |  | 577896 |
|  | CORPAY INC | CORPAY INC |  | 10200 |  | 3069486 |
|  | COSTAR GROUP INC | COSTAR GROUP INC |  | 33616 |  | 2260340 |
|  | COUPANG INC A | COUPANG INC A |  | 43793 |  | 1033077 |
|  | CRANE CO | CRANE CO |  | 5619 |  | 1036312 |
|  | CREDO TECHNOLOGY GROUP HOLDING LTD | CREDO TECHNOLOGY GROUP HOLDING LTD |  | 17529 |  | 2522248 |
|  | CRISPR THERAPEUTICS AG | CRISPR THERAPEUTICS AG |  | 22972 |  | 1204652 |
|  | CSW INDUSTRIALS INC | CSW INDUSTRIALS INC |  | 6300 |  | 1849239 |
|  | CULLEN FROST BANKERS INC | CULLEN FROST BANKERS INC |  | 9900 |  | 1253637 |
|  | CVS HEALTH CORP | CVS HEALTH CORP |  | 368118 |  | 29213844 |
|  | CYTOKINETICS INC | CYTOKINETICS INC |  | 38300 |  | 2433582 |
|  | DANAHER CORP | DANAHER CORP |  | 21420 |  | 4903466 |
|  | DANAHER CORP | DANAHER CORP |  | 4418 |  | 1011369 |
|  | DATADOG INC CL A | DATADOG INC CL A |  | 9680 |  | 1316383 |
|  | DNOW INC | DNOW INC |  | 125927 |  | 1668533 |
|  | DOLLAR TREE INC | DOLLAR TREE INC |  | 66974 |  | 8238472 |
|  | DOMINION ENERGY INC | DOMINION ENERGY INC |  | 137600 |  | 8061984 |
|  | DOMINOS PIZZA INC | DOMINOS PIZZA INC |  | 19704 |  | 8213021 |
|  | DOORDASH INC | DOORDASH INC |  | 5867 |  | 1328758 |
|  | DOUGLAS DYNAMICS INC | DOUGLAS DYNAMICS INC |  | 83981 |  | 2741980 |
|  | DRAFTKINGS HOLDINGS INC | DRAFTKINGS HOLDINGS INC |  | 110800 |  | 3818168 |
|  | DT MIDSTREAM INC | DT MIDSTREAM INC |  | 5200 |  | 622336 |
|  | DUOLINGO INC | DUOLINGO INC |  | 7500 |  | 1316250 |
|  | DUTCH BROS INC | DUTCH BROS INC |  | 7453 |  | 456273 |
|  | D-WAVE QUANTUM INC | D-WAVE QUANTUM INC |  | 26168 |  | 684293 |
|  | ELANCO ANIMAL HEALTH INC | ELANCO ANIMAL HEALTH INC |  | 480400 |  | 10871452 |
|  | ELANCO ANIMAL HEALTH INC | ELANCO ANIMAL HEALTH INC |  | 169600 |  | 3838048 |
|  | ELF BEAUTY INC | ELF BEAUTY INC |  | 10300 |  | 783212 |
|  | ELI LILLY & CO | ELI LILLY & CO |  | 14189 |  | 15248635 |
|  | ELI LILLY & CO | ELI LILLY & CO |  | 3636 |  | 3907536 |

---

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | ENCOMPASS HEALTH CORP | ENCOMPASS HEALTH CORP |  | 27000 |  | 2865780 |
|  | ENERPAC TOOL GROUP CORP CL A | ENERPAC TOOL GROUP CORP CL A |  | 35000 |  | 1338400 |
|  | ENTEGRIS INC | ENTEGRIS INC |  | 19366 |  | 1631586 |
|  | ENVISTA HOLDINGS CORP | ENVISTA HOLDINGS CORP |  | 83466 |  | 1812047 |
|  | EQT CORPORATION | EQT CORPORATION |  | 96104 |  | 5151174 |
|  | EQUIFAX INC | EQUIFAX INC |  | 2233 |  | 484516 |
|  | EQUIFAX INC | EQUIFAX INC |  | 10800 |  | 2343384 |
|  | ESAB CORP | ESAB CORP |  | 14900 |  | 1664628 |
|  | ESAB CORP | ESAB CORP |  | 53401 |  | 5965960 |
|  | EVERCORE INC A | EVERCORE INC A |  | 2943 |  | 1001356 |
|  | EVERPURE INC-A | EVERPURE INC-A |  | 9900 |  | 663399 |
|  | EVERPURE INC-A | EVERPURE INC-A |  | 50600 |  | 3390706 |
|  | EXPAND ENERGY CORP | EXPAND ENERGY CORP |  | 25400 |  | 2803144 |
|  | FABRINET | FABRINET |  | 3052 |  | 1389515 |
|  | FABRINET | FABRINET |  | 2360 |  | 1074461 |
|  | FEDEX CORP | FEDEX CORP |  | 95400 |  | 27557244 |
|  | FERGUSON ENTERPRISES INC | FERGUSON ENTERPRISES INC |  | 27500 |  | 6122325 |
| \* | FIDELITY NATL INFORM SVCS INC | FIDELITY NATL INFORM SVCS INC |  | 288800 |  | 19193648 |
|  | FIGURE TECHNOLOGY SOLUTIONS INC A | FIGURE TECHNOLOGY SOLUTIONS INC A |  | 14516 |  | 592833 |
|  | FIRST CITIZENS BANCSHARES INC CL A | FIRST CITIZENS BANCSHARES INC CL A |  | 131 |  | 281150 |
|  | FIRST FINL BANKSHARES INC | FIRST FINL BANKSHARES INC |  | 47100 |  | 1406877 |
|  | FIRST WATCH RESTAURANT GROUP INC | FIRST WATCH RESTAURANT GROUP INC |  | 32400 |  | 488592 |
|  | FISERV INC | FISERV INC |  | 278300 |  | 18693411 |
|  | FLOOR & DECOR HOLDINGS INC | FLOOR & DECOR HOLDINGS INC |  | 12300 |  | 748947 |
|  | FORTIVE CORP | FORTIVE CORP |  | 285287 |  | 15750695 |
|  | FORTIVE CORP | FORTIVE CORP |  | 27736 |  | 1531305 |
|  | FOX CORP CL A | FOX CORP CL A |  | 46615 |  | 3406158 |
|  | FOX CORPORATION B | FOX CORPORATION B |  | 78866 |  | 5120769 |
|  | FRESHPET INC | FRESHPET INC |  | 16200 |  | 987066 |
|  | FTAI AVIATION LTD | FTAI AVIATION LTD |  | 7103 |  | 1398226 |
|  | GAMING AND LEISURE PROPRTI INC | GAMING AND LEISURE PROPRTI INC |  | 90567 |  | 4047439 |
|  | GE AEROSPACE | GE AEROSPACE |  | 30400 |  | 9364112 |
|  | GE HEALTHCARE TECHNOLOGIES INC WI | GE HEALTHCARE TECHNOLOGIES INC WI |  | 182900 |  | 15001458 |
|  | GE VERNOVA INC | GE VERNOVA INC |  | 10063 |  | 6576875 |
|  | GENEDX HOLDINGS CORP-A | GENEDX HOLDINGS CORP-A |  | 11819 |  | 1537179 |
|  | GENESCO INC | GENESCO INC |  | 49200 |  | 1218684 |
|  | GERMAN AMERICAN BANCORP INC | GERMAN AMERICAN BANCORP INC |  | 21700 |  | 850206 |
|  | GILEAD SCIENCES INC | GILEAD SCIENCES INC |  | 167200 |  | 20522128 |
|  | GITLAB INC CL A | GITLAB INC CL A |  | 34500 |  | 1294785 |
|  | GLAUKOS CORP | GLAUKOS CORP |  | 9500 |  | 1072645 |
|  | GLOBE LIFE INC | GLOBE LIFE INC |  | 14353 |  | 2007411 |
|  | GLOBUS MEDICAL INC | GLOBUS MEDICAL INC |  | 20100 |  | 1754931 |
|  | GOLDMAN SACHS GROUP INC | GOLDMAN SACHS GROUP INC |  | 10900 |  | 9581100 |
|  | GSK PLC SPONS ADR | GSK PLC SPONS ADR |  | 439839 |  | 21569705 |
|  | GUARDANT HEALTH INC | GUARDANT HEALTH INC |  | 29893 |  | 3053271 |
|  | GUIDEWIRE SOFTWARE INC | GUIDEWIRE SOFTWARE INC |  | 6339 |  | 1274202 |
|  | HALEON PLC SPONS ADR | HALEON PLC SPONS ADR |  | 968248 |  | 9788987 |
|  | HAMILTON LANE INC - A | HAMILTON LANE INC - A |  | 8500 |  | 1141635 |
|  | HAVERTY FURNITURE COS INC | HAVERTY FURNITURE COS INC |  | 54031 |  | 1262164 |
|  | HEARTFLOW INC | HEARTFLOW INC |  | 16741 |  | 488000 |
|  | HELEN OF TROY LTD | HELEN OF TROY LTD |  | 33286 |  | 707328 |
|  | HILTON WORLDWIDE HOLDINGS INC | HILTON WORLDWIDE HOLDINGS INC |  | 45000 |  | 12926250 |
|  | HINGE HEALTH INC | HINGE HEALTH INC |  | 19619 |  | 911303 |
|  | HOLOGIC INC | HOLOGIC INC |  | 57900 |  | 4312971 |
|  | HOOKER FURNISHINGS CORP | HOOKER FURNISHINGS CORP |  | 36912 |  | 416736 |
|  | HOWMET AEROSPACE INC | HOWMET AEROSPACE INC |  | 61720 |  | 12653834 |
|  | HOWMET AEROSPACE INC | HOWMET AEROSPACE INC |  | 12200 |  | 2501244 |
|  | HP INC | HP INC |  | 233100 |  | 5193468 |
|  | HUBSPOT INC | HUBSPOT INC |  | 6098 |  | 2447127 |

---

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | HUBSPOT INC | HUBSPOT INC |  | 4100 |  | 1645330 |
|  | HUMANA INC | HUMANA INC |  | 68300 |  | 17493679 |
|  | HUNTSMAN CORP | HUNTSMAN CORP |  | 126020 |  | 1260200 |
|  | IDEX CORPORATION | IDEX CORPORATION |  | 6851 |  | 1219067 |
|  | IES HOLDINGS INC | IES HOLDINGS INC |  | 2618 |  | 1018454 |
|  | INCYTE CORP | INCYTE CORP |  | 78043 |  | 7708307 |
|  | INGERSOLL RAND INC | INGERSOLL RAND INC |  | 10798 |  | 855418 |
|  | INGERSOLL RAND INC | INGERSOLL RAND INC |  | 72000 |  | 5703840 |
|  | INSMED INC | INSMED INC |  | 5075 |  | 883253 |
|  | INSPIRE MEDICAL SYSTEMS INC | INSPIRE MEDICAL SYSTEMS INC |  | 5500 |  | 507265 |
|  | INTERNATIONAL FLAVORS & FRAGRA | INTERNATIONAL FLAVORS & FRAGRA |  | 151600 |  | 10216324 |
|  | INTUIT INC | INTUIT INC |  | 6574 |  | 4354749 |
|  | INTUITIVE SURGICAL INC | INTUITIVE SURGICAL INC |  | 6651 |  | 3766860 |
|  | IONIS PHARMACEUTICALS INC | IONIS PHARMACEUTICALS INC |  | 83208 |  | 6582585 |
|  | IRHYTHM TECHNOLOGIES INC | IRHYTHM TECHNOLOGIES INC |  | 8244 |  | 1462815 |
|  | ITT INC | ITT INC |  | 18600 |  | 3227286 |
|  | JBT MAREL CORP | JBT MAREL CORP |  | 9000 |  | 1356030 |
|  | JFROG LTD | JFROG LTD |  | 19126 |  | 1194610 |
|  | JOHNSON CONTROLS INTERNATIONAL PLC | JOHNSON CONTROLS INTERNATIONAL PLC |  | 296300 |  | 35481925 |
|  | KADANT INC | KADANT INC |  | 5200 |  | 1482104 |
|  | KARMAN HOLDINGS INC | KARMAN HOLDINGS INC |  | 18831 |  | 1377864 |
|  | KEYSIGHT TECHNOLOGIES INC | KEYSIGHT TECHNOLOGIES INC |  | 32400 |  | 6583356 |
|  | KKR & CO INC | KKR & CO INC |  | 38740 |  | 4938575 |
|  | KOPPERS HLDGS INC | KOPPERS HLDGS INC |  | 53857 |  | 1458448 |
|  | KORN FERRY | KORN FERRY |  | 29193 |  | 1927322 |
|  | KRATOS DEFENSE & SEC SOLTN INC | KRATOS DEFENSE & SEC SOLTN INC |  | 19956 |  | 1514860 |
|  | LATTICE SEMICONDUCTOR CORP | LATTICE SEMICONDUCTOR CORP |  | 8154 |  | 599971 |
|  | LATTICE SEMICONDUCTOR CORP | LATTICE SEMICONDUCTOR CORP |  | 18227 |  | 1341143 |
|  | LATTICE SEMICONDUCTOR CORP | LATTICE SEMICONDUCTOR CORP |  | 138418 |  | 10184796 |
|  | LEGEND BIOTECH CORP SPON ADR | LEGEND BIOTECH CORP SPON ADR |  | 107170 |  | 2329876 |
|  | LIBERTY LIVE HOLDINGS INC C | LIBERTY LIVE HOLDINGS INC C |  | 45600 |  | 3792096 |
|  | LIBERTY MEDIA CORP LIBERTY FORMULA ONE CL C | LIBERTY MEDIA CORP LIBERTY FORMULA ONE CL C |  | 86782 |  | 8548895 |
|  | LIFE TIME GROUP HOLDINGS INC | LIFE TIME GROUP HOLDINGS INC |  | 16304 |  | 433360 |
|  | LIVE NATION ENTERTAINMENT INC | LIVE NATION ENTERTAINMENT INC |  | 7000 |  | 997500 |
|  | LOAR HOLDINGS INC | LOAR HOLDINGS INC |  | 6143 |  | 417724 |
|  | LPL FINL HLDGS INC | LPL FINL HLDGS INC |  | 23100 |  | 8250627 |
|  | LYFT INC | LYFT INC |  | 42954 |  | 832019 |
|  | LYONDELLBASELL INDS CLASS A | LYONDELLBASELL INDS CLASS A |  | 98700 |  | 4273710 |
|  | MACOM TECHNOLOGY SOLUTIONS HOLDINGS INC | MACOM TECHNOLOGY SOLUTIONS HOLDINGS INC |  | 6804 |  | 1165389 |
|  | MACOM TECHNOLOGY SOLUTIONS HOLDINGS INC | MACOM TECHNOLOGY SOLUTIONS HOLDINGS INC |  | 35200 |  | 6029056 |
|  | MADRIGAL PHARMACEUTICALS INC | MADRIGAL PHARMACEUTICALS INC |  | 3461 |  | 2015479 |
|  | MALIBU BOATS INC CL A | MALIBU BOATS INC CL A |  | 66405 |  | 1873285 |
|  | MANHATTAN ASSOCIATES INC | MANHATTAN ASSOCIATES INC |  | 25400 |  | 4402074 |
|  | MAPLEBEAR INC | MAPLEBEAR INC |  | 4500 |  | 202410 |
|  | MARCUS &MILLICHAP CO INC | MARCUS &MILLICHAP CO INC |  | 26891 |  | 733855 |
|  | MARKEL GROUP INC | MARKEL GROUP INC |  | 1550 |  | 3331958 |
|  | MARKETAXESS HLDGS INC | MARKETAXESS HLDGS INC |  | 2785 |  | 504781 |
| \* | MARRIOTT INTERNATIONAL INC A | MARRIOTT INTERNATIONAL INC A |  | 6298121 |  | 1953929059 |
|  | MARTIN MARIETTA MATERIALS INC | MARTIN MARIETTA MATERIALS INC |  | 9289 |  | 5783889 |
|  | MARVELL TECHNOLOGY INC | MARVELL TECHNOLOGY INC |  | 72380 |  | 6150852 |
|  | MARZETTI COMPANY/THE | MARZETTI COMPANY/THE |  | 4800 |  | 789216 |
|  | MASIMO CORP | MASIMO CORP |  | 8100 |  | 1053486 |
|  | MASTEC INC | MASTEC INC |  | 6920 |  | 1504200 |
|  | MASTERBRAND INC | MASTERBRAND INC |  | 107088 |  | 1182252 |
|  | MASTERCARD INC CL A | MASTERCARD INC CL A |  | 9527 |  | 5438774 |
|  | MCCORMICK & CO INC NON-VTG | MCCORMICK & CO INC NON-VTG |  | 60000 |  | 4086600 |
|  | MCGRAW HILL INC | MCGRAW HILL INC |  | 63377 |  | 1045721 |

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | MEDTRONIC PLC | MEDTRONIC PLC |  | 49900 |  | 4793394 |
|  | MERCADOLIBRE INC | MERCADOLIBRE INC |  | 905 |  | 1822905 |
|  | MERCURY SYSTEMS INC | MERCURY SYSTEMS INC |  | 13825 |  | 1009363 |
|  | MERIT MEDICAL SYSTEMS INC | MERIT MEDICAL SYSTEMS INC |  | 10000 |  | 881400 |
|  | META PLATFORMS INC CL A | META PLATFORMS INC CL A |  | 38800 |  | 25611492 |
|  | META PLATFORMS INC CL A | META PLATFORMS INC CL A |  | 30000 |  | 19802700 |
|  | META PLATFORMS INC CL A | META PLATFORMS INC CL A |  | 9947 |  | 6565915 |
|  | METLIFE INC | METLIFE INC |  | 338800 |  | 26744872 |
|  | METTLER-TOLEDO INTL INC | METTLER-TOLEDO INTL INC |  | 7050 |  | 9829040 |
|  | MIAMI INTERNATIONAL HOLDINGS INC | MIAMI INTERNATIONAL HOLDINGS INC |  | 14826 |  | 657978 |
|  | MICROCHIP TECHNOLOGY | MICROCHIP TECHNOLOGY |  | 41800 |  | 2663496 |
|  | MICROCHIP TECHNOLOGY | MICROCHIP TECHNOLOGY |  | 101600 |  | 6473952 |
|  | MICROSOFT CORP | MICROSOFT CORP |  | 54100 |  | 26163842 |
|  | MICROSOFT CORP | MICROSOFT CORP |  | 83230 |  | 40251693 |
|  | MICROSOFT CORP | MICROSOFT CORP |  | 41398 |  | 20020901 |
|  | MIRION TECHNOLOGIES INC-A | MIRION TECHNOLOGIES INC-A |  | 61275 |  | 1435061 |
|  | MIRUM PHARMACEUTICALS INC | MIRUM PHARMACEUTICALS INC |  | 10684 |  | 843929 |
|  | MODINE MANUFACTURING CO | MODINE MANUFACTURING CO |  | 8000 |  | 1068080 |
|  | MODINE MANUFACTURING CO | MODINE MANUFACTURING CO |  | 11727 |  | 1565672 |
|  | MOLINA HEALTHCARE INC | MOLINA HEALTHCARE INC |  | 16400 |  | 2846056 |
|  | MOLSON COORS BEVERAGE CO B | MOLSON COORS BEVERAGE CO B |  | 127800 |  | 5965704 |
|  | MONDAY.COM LTD | MONDAY.COM LTD |  | 12800 |  | 1888768 |
|  | MONGODB INC CL A | MONGODB INC CL A |  | 3218 |  | 1350562 |
|  | MONGODB INC CL A | MONGODB INC CL A |  | 5700 |  | 2392233 |
|  | MONOLITHIC POWER SYS INC | MONOLITHIC POWER SYS INC |  | 7541 |  | 6834861 |
|  | MSA SAFETY INC | MSA SAFETY INC |  | 10650 |  | 1705491 |
|  | MSCI INC | MSCI INC |  | 14300 |  | 8204339 |
|  | MYERS INDUSTRIES | MYERS INDUSTRIES |  | 67001 |  | 1254259 |
|  | NATERA INC | NATERA INC |  | 4692 |  | 1074890 |
|  | NATERA INC | NATERA INC |  | 7501 |  | 1718404 |
|  | NATERA INC | NATERA INC |  | 5116 |  | 1172024 |
|  | NETFLIX INC | NETFLIX INC |  | 123430 |  | 11572797 |
|  | NETFLIX INC | NETFLIX INC |  | 21113 |  | 1979555 |
|  | NETSKOPE INC A | NETSKOPE INC A |  | 20497 |  | 359517 |
|  | NETSKOPE INC A | NETSKOPE INC A |  | 29806 |  | 522797 |
|  | NEUROCRINE BIOSCIENCES INC | NEUROCRINE BIOSCIENCES INC |  | 35500 |  | 5034965 |
|  | NEW YORK TIMES CO CL A | NEW YORK TIMES CO CL A |  | 86600 |  | 6011772 |
|  | NEWELL BRANDS INC | NEWELL BRANDS INC |  | 314936 |  | 1171562 |
|  | NEWS CORP NEW CL A | NEWS CORP NEW CL A |  | 82000 |  | 2141840 |
|  | NEXTPOWER INC | NEXTPOWER INC |  | 12020 |  | 1047062 |
|  | NORFOLK SOUTHERN CORP | NORFOLK SOUTHERN CORP |  | 68500 |  | 19777320 |
|  | NOV INC | NOV INC |  | 111379 |  | 1740854 |
|  | NOVA MEASURING INSTRUMENTS LTD | NOVA MEASURING INSTRUMENTS LTD |  | 4162 |  | 1366759 |
|  | NOVANTA INC | NOVANTA INC |  | 13500 |  | 1606365 |
|  | NOVARTIS AG SPON ADR | NOVARTIS AG SPON ADR |  | 59100 |  | 8148117 |
|  | NUTANIX INC CL A | NUTANIX INC CL A |  | 26500 |  | 1369785 |
|  | NUVALENT INC-A | NUVALENT INC-A |  | 8533 |  | 858334 |
|  | NUVALENT INC-A | NUVALENT INC-A |  | 4850 |  | 487862 |
|  | NVIDIA CORP | NVIDIA CORP |  | 346200 |  | 64566294 |
|  | NVIDIA CORP | NVIDIA CORP |  | 106400 |  | 19843600 |
|  | NXP SEMICONDUCTORS NV | NXP SEMICONDUCTORS NV |  | 16000 |  | 3472960 |
|  | OCCIDENTAL PETROLEUM CORP | OCCIDENTAL PETROLEUM CORP |  | 481050 |  | 19780776 |
|  | OLD DOMINION FREIGHT LINES INC | OLD DOMINION FREIGHT LINES INC |  | 37500 |  | 5880000 |
|  | OLD NATIONAL BANCORP (IND) | OLD NATIONAL BANCORP (IND) |  | 102736 |  | 2292040 |
|  | OLIN CORP | OLIN CORP |  | 84800 |  | 1766384 |
|  | ON HOLDING AG | ON HOLDING AG |  | 11800 |  | 548464 |
|  | ONESPAWORLD HOLDINGS LTD | ONESPAWORLD HOLDINGS LTD |  | 25900 |  | 537166 |
|  | ONESTREAM INC | ONESTREAM INC |  | 59500 |  | 1093610 |
|  | ONESTREAM INC | ONESTREAM INC |  | 55372 |  | 1017737 |

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | ORACLE CORP | ORACLE CORP |  | 33110 |  | 6453470 |
|  | O'REILLY AUTOMOTIVE INC | O'REILLY AUTOMOTIVE INC |  | 88210 |  | 8045634 |
|  | ORION SA | ORION SA |  | 186117 |  | 982698 |
|  | PALO ALTO NETWORKS INC | PALO ALTO NETWORKS INC |  | 30340 |  | 5588628 |
|  | PALOMAR HLDGS INC | PALOMAR HLDGS INC |  | 9200 |  | 1239792 |
|  | PAYLOCITY HOLDING CORP | PAYLOCITY HOLDING CORP |  | 37450 |  | 5711125 |
|  | PENUMBRA INC | PENUMBRA INC |  | 4700 |  | 1461277 |
|  | PENUMBRA INC | PENUMBRA INC |  | 3448 |  | 1072018 |
|  | PHREESIA INC | PHREESIA INC |  | 45300 |  | 766476 |
|  | PIPER SANDLER COS | PIPER SANDLER COS |  | 2534 |  | 860825 |
|  | PJT PARTNERS INC | PJT PARTNERS INC |  | 6000 |  | 1003200 |
|  | PLANET FITNESS INC CL A | PLANET FITNESS INC CL A |  | 3800 |  | 412186 |
|  | PLANET FITNESS INC CL A | PLANET FITNESS INC CL A |  | 11763 |  | 1275933 |
|  | PLANET FITNESS INC CL A | PLANET FITNESS INC CL A |  | 69900 |  | 7582053 |
|  | POOL CORP | POOL CORP |  | 19700 |  | 4506375 |
|  | PROCEPT BIOROBOTICS CORP | PROCEPT BIOROBOTICS CORP |  | 39500 |  | 1242670 |
|  | PTC INC | PTC INC |  | 62700 |  | 10922967 |
|  | PTC THERAPEUTICS INC | PTC THERAPEUTICS INC |  | 13998 |  | 1063288 |
|  | PVH CORP | PVH CORP |  | 22565 |  | 1512306 |
|  | QUANTA SVCS INC | QUANTA SVCS INC |  | 6500 |  | 2743390 |
|  | QUIDELORTHO CORP | QUIDELORTHO CORP |  | 59941 |  | 1711915 |
|  | RALLIANT CORP | RALLIANT CORP |  | 74900 |  | 3813159 |
|  | RALLIANT CORP | RALLIANT CORP |  | 14110 |  | 718340 |
|  | RALLIANT CORP | RALLIANT CORP |  | 28020 |  | 1426498 |
|  | RAMBUS INC | RAMBUS INC |  | 14635 |  | 1344810 |
|  | RAYMOND JAMES FINANCIAL INC. | RAYMOND JAMES FINANCIAL INC. |  | 34500 |  | 5540355 |
|  | RB GLOBAL INC | RB GLOBAL INC |  | 13000 |  | 1337310 |
|  | RB GLOBAL INC | RB GLOBAL INC |  | 24200 |  | 2489454 |
|  | RBC BEARINGS INC | RBC BEARINGS INC |  | 2300 |  | 1031389 |
|  | RBC BEARINGS INC | RBC BEARINGS INC |  | 2518 |  | 1129147 |
|  | REDDIT INC A | REDDIT INC A |  | 6622 |  | 1522199 |
|  | REDDIT INC A | REDDIT INC A |  | 18310 |  | 4208920 |
|  | REGENERON PHARMACEUTICALS INC | REGENERON PHARMACEUTICALS INC |  | 25900 |  | 19991433 |
|  | REPLIGEN | REPLIGEN |  | 10000 |  | 1638600 |
|  | RESIDEO TECHNOLOGIES INC | RESIDEO TECHNOLOGIES INC |  | 49220 |  | 1728606 |
|  | REVOLUTION MEDICINES INC | REVOLUTION MEDICINES INC |  | 12154 |  | 968066 |
|  | REVOLUTION MEDICINES INC | REVOLUTION MEDICINES INC |  | 16400 |  | 1306260 |
|  | RHYTHM PHARMACEUTICALS INC | RHYTHM PHARMACEUTICALS INC |  | 8423 |  | 901598 |
|  | RLI CORP | RLI CORP |  | 15900 |  | 1017282 |
|  | ROBERT HALF INC | ROBERT HALF INC |  | 75607 |  | 2053486 |
|  | ROCHE HOLDING LTD SPON ADR | ROCHE HOLDING LTD SPON ADR |  | 144700 |  | 7462179 |
|  | ROCKET COS INC | ROCKET COS INC |  | 22330 |  | 432309 |
|  | ROCKET LAB CORP | ROCKET LAB CORP |  | 13159 |  | 917972 |
|  | ROSS STORES INC | ROSS STORES INC |  | 26500 |  | 4773710 |
|  | RTX CORP | RTX CORP |  | 247300 |  | 45354820 |
|  | RUBRIK INC | RUBRIK INC |  | 10344 |  | 791109 |
|  | RYAN SPECIALTY HOLDINGS INC | RYAN SPECIALTY HOLDINGS INC |  | 40565 |  | 2094371 |
|  | SALESFORCE INC | SALESFORCE INC |  | 18310 |  | 4850502 |
|  | SAMSONITE GROUP SA - UNSP ADR | SAMSONITE GROUP SA - UNSP ADR |  | 153527 |  | 1954399 |
|  | SANMINA CORP | SANMINA CORP |  | 4131 |  | 619939 |
|  | SANOFI SPON ADR | SANOFI SPON ADR |  | 370800 |  | 17968968 |
|  | SBA COMMUNICATIONS CORP | SBA COMMUNICATIONS CORP |  | 67100 |  | 12979153 |
|  | SCANSOURCE INC | SCANSOURCE INC |  | 41447 |  | 1618920 |
|  | SCHWAB CHARLES CORP | SCHWAB CHARLES CORP |  | 453300 |  | 45289203 |
|  | SEMTECH CORP | SEMTECH CORP |  | 8576 |  | 631965 |
|  | SENSATA TECHNOLOGIES HOLDING PLC | SENSATA TECHNOLOGIES HOLDING PLC |  | 69305 |  | 2307163 |
|  | SENSIENT TECHNOLOGIES CORP | SENSIENT TECHNOLOGIES CORP |  | 9000 |  | 845550 |
|  | SENTINELONE INC | SENTINELONE INC |  | 91500 |  | 1372500 |
|  | SERVICE CORP INTERNATIONAL INC | SERVICE CORP INTERNATIONAL INC |  | 47200 |  | 3680184 |

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | SERVICENOW INC | SERVICENOW INC |  | 81525 |  | 12488815 |
|  | SERVICENOW INC | SERVICENOW INC |  | 14465 |  | 2215893 |
|  | SERVICETITAN INC-A | SERVICETITAN INC-A |  | 7147 |  | 761156 |
|  | SERVISFIRST BANCSHARES INC | SERVISFIRST BANCSHARES INC |  | 17000 |  | 1220430 |
|  | SHAKE SHACK INC - CLASS A | SHAKE SHACK INC - CLASS A |  | 5800 |  | 470786 |
|  | SHOPIFY INC CL A | SHOPIFY INC CL A |  | 7478 |  | 1203734 |
|  | SI-BONE INC | SI-BONE INC |  | 30800 |  | 607376 |
|  | SIMPSON MANUFACTURING CO | SIMPSON MANUFACTURING CO |  | 8900 |  | 1437083 |
|  | SITIME CORP | SITIME CORP |  | 4158 |  | 1468564 |
|  | SKYWARD SPECIALTY INSURANCE GROUP INC | SKYWARD SPECIALTY INSURANCE GROUP INC |  | 27000 |  | 1379970 |
|  | SPECTRUM BRANDS HOLDINGS INC | SPECTRUM BRANDS HOLDINGS INC |  | 57701 |  | 3408975 |
|  | SPORTRADAR GROUP AG | SPORTRADAR GROUP AG |  | 27748 |  | 659570 |
|  | SPORTRADAR GROUP AG | SPORTRADAR GROUP AG |  | 90100 |  | 2141677 |
|  | SPROUTS FMRS MKT INC | SPROUTS FMRS MKT INC |  | 8300 |  | 661261 |
|  | SPX TECHNOLOGIES INC | SPX TECHNOLOGIES INC |  | 7000 |  | 1400420 |
|  | STANDARDAERO INC | STANDARDAERO INC |  | 104981 |  | 3010855 |
|  | STANDEX INTL CORP | STANDEX INTL CORP |  | 6550 |  | 1423184 |
|  | STATE STREET CORP | STATE STREET CORP |  | 31500 |  | 4063815 |
|  | STERLING INFRASTRUCTURE INC | STERLING INFRASTRUCTURE INC |  | 2140 |  | 655332 |
|  | STEVANATO GROUP S.P.A. | STEVANATO GROUP S.P.A. |  | 21500 |  | 432580 |
|  | STOCK YARDS BANCORP INC | STOCK YARDS BANCORP INC |  | 10900 |  | 707955 |
|  | STONEX GROUP INC | STONEX GROUP INC |  | 10400 |  | 989352 |
|  | STRIPE INC CLASS B PP | STRIPE INC CLASS B PP |  | 3904 |  | 161704 |
|  | STRYKER CORP | STRYKER CORP |  | 5855 |  | 2057857 |
|  | SUN COMMUNITIES INC - REIT | SUN COMMUNITIES INC - REIT |  | 95000 |  | 11771450 |
|  | SYNOPSYS INC | SYNOPSYS INC |  | 10940 |  | 5138737 |
|  | TAIWAN SEMIC MFG CO LTD SP ADR | TAIWAN SEMIC MFG CO LTD SP ADR |  | 21240 |  | 6454624 |
|  | TARSUS PHARMACEUTICALS INC | TARSUS PHARMACEUTICALS INC |  | 17569 |  | 1438550 |
|  | TE CONNECTIVITY PLC | TE CONNECTIVITY PLC |  | 73600 |  | 16744736 |
|  | TECHNIPFMC PLC | TECHNIPFMC PLC |  | 167019 |  | 7442367 |
|  | TELEDYNE TECHNOLOGIES INC | TELEDYNE TECHNOLOGIES INC |  | 11200 |  | 5720176 |
|  | TELEFLEX INC | TELEFLEX INC |  | 14079 |  | 1718201 |
|  | TELEFLEX INC | TELEFLEX INC |  | 44251 |  | 5400392 |
|  | TERNS PHARMACEUTICALS INC | TERNS PHARMACEUTICALS INC |  | 32020 |  | 1293608 |
|  | TESLA INC | TESLA INC |  | 21890 |  | 9844371 |
|  | TEXAS ROADHOUSE INC | TEXAS ROADHOUSE INC |  | 21600 |  | 3585600 |
|  | TEXTRON INC | TEXTRON INC |  | 71178 |  | 6204586 |
|  | THE BOOKING HOLDINGS INC | THE BOOKING HOLDINGS INC |  | 393 |  | 2104645 |
|  | THE BOOKING HOLDINGS INC | THE BOOKING HOLDINGS INC |  | 3100 |  | 16601523 |
|  | T-MOBILE US INC | T-MOBILE US INC |  | 41000 |  | 8324640 |
|  | TOAST INC | TOAST INC |  | 70700 |  | 2510557 |
|  | TOPBUILD CORP | TOPBUILD CORP |  | 5800 |  | 2419702 |
|  | TOWER SEMICONDCTR LTD | TOWER SEMICONDCTR LTD |  | 6700 |  | 786714 |
|  | TPG INC | TPG INC |  | 31893 |  | 2036049 |
|  | TRADE DESK INC | TRADE DESK INC |  | 31219 |  | 1185073 |
|  | TRADEWEB MARKETS INC A | TRADEWEB MARKETS INC A |  | 12564 |  | 1351133 |
|  | TRADEWEB MARKETS INC A | TRADEWEB MARKETS INC A |  | 29600 |  | 3183184 |
|  | TRANSCAT INC | TRANSCAT INC |  | 7300 |  | 414129 |
|  | TRANSMEDICS GROUP INC | TRANSMEDICS GROUP INC |  | 4891 |  | 594990 |
|  | TRANSUNION | TRANSUNION |  | 56343 |  | 4831412 |
|  | TRANSUNION | TRANSUNION |  | 69334 |  | 5945391 |
|  | TRIMAS CORP | TRIMAS CORP |  | 25430 |  | 901494 |
|  | TRUEBLUE INC | TRUEBLUE INC |  | 115262 |  | 524442 |
|  | TYLER TECHNOLOGIES INC | TYLER TECHNOLOGIES INC |  | 18600 |  | 8443470 |
|  | UL SOLUTIONS INC CL A | UL SOLUTIONS INC CL A |  | 43154 |  | 3403124 |
|  | ULTA BEAUTY INC | ULTA BEAUTY INC |  | 9892 |  | 5984759 |
|  | UNITEDHEALTH GROUP INC | UNITEDHEALTH GROUP INC |  | 54600 |  | 18024006 |
|  | UNITEDHEALTH GROUP INC | UNITEDHEALTH GROUP INC |  | 13900 |  | 4588529 |
|  | UNITEDHEALTH GROUP INC | UNITEDHEALTH GROUP INC |  | 7275 |  | 2401550 |

---

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | UNITY SOFTWARE INC | UNITY SOFTWARE INC |  | 31294 |  | 1382256 |
|  | UNITY SOFTWARE INC | UNITY SOFTWARE INC |  | 46497 |  | 2053772 |
|  | UNIVERSAL CORP | UNIVERSAL CORP |  | 15794 |  | 833134 |
|  | UNIVERSAL TECH INST INC | UNIVERSAL TECH INST INC |  | 22581 |  | 590042 |
|  | UNIVEST FINANCIAL CORP | UNIVEST FINANCIAL CORP |  | 42225 |  | 1382447 |
|  | USANA HEALTH SCIENCES INC | USANA HEALTH SCIENCES INC |  | 45141 |  | 886118 |
|  | VALVOLINE INC | VALVOLINE INC |  | 29500 |  | 857270 |
|  | VAREX IMAGING CORP | VAREX IMAGING CORP |  | 164038 |  | 1911043 |
|  | VAXCYTE INC | VAXCYTE INC |  | 40852 |  | 1884911 |
|  | VEEVA SYS INC CL A | VEEVA SYS INC CL A |  | 36270 |  | 8096552 |
|  | VERACYTE INC | VERACYTE INC |  | 18900 |  | 795690 |
|  | VERALTO CORP | VERALTO CORP |  | 53200 |  | 5308296 |
|  | VERICEL CORP | VERICEL CORP |  | 29300 |  | 1055093 |
|  | VERTEX INC - CLASS A | VERTEX INC - CLASS A |  | 21445 |  | 428257 |
|  | VERTIV HOLDINGS CO | VERTIV HOLDINGS CO |  | 83790 |  | 13574818 |
|  | VF CORP | VF CORP |  | 242700 |  | 4388016 |
|  | VIKING HOLDINGS LTD | VIKING HOLDINGS LTD |  | 125883 |  | 8989305 |
|  | VISA INC CL A | VISA INC CL A |  | 37430 |  | 13127075 |
|  | VISA INC CL A | VISA INC CL A |  | 12901 |  | 4524510 |
|  | WATTS WATER TECH INC CL A | WATTS WATER TECH INC CL A |  | 3100 |  | 855662 |
|  | WEBSTER FINANCIAL | WEBSTER FINANCIAL |  | 43945 |  | 2765898 |
|  | WELLS FARGO & CO | WELLS FARGO & CO |  | 200500 |  | 18686600 |
|  | WEST PHARMACEUTICAL SVCS INC | WEST PHARMACEUTICAL SVCS INC |  | 11274 |  | 3101928 |
|  | WILLIS TOWERS WATSON PLC | WILLIS TOWERS WATSON PLC |  | 29260 |  | 9614836 |
|  | WINGSTOP INC | WINGSTOP INC |  | 5700 |  | 1359393 |
|  | WINGSTOP INC | WINGSTOP INC |  | 7700 |  | 1836373 |
|  | WINNEBAGO INDUSTRIES INC | WINNEBAGO INDUSTRIES INC |  | 40518 |  | 1641789 |
|  | WOODWARD INC | WOODWARD INC |  | 3243 |  | 980424 |
|  | WSFS FINANCIAL CORP | WSFS FINANCIAL CORP |  | 39120 |  | 2160989 |
|  | WYNDHAM HOTELS & RESORTS INC | WYNDHAM HOTELS & RESORTS INC |  | 16500 |  | 1246740 |
|  | WYNDHAM HOTELS & RESORTS INC | WYNDHAM HOTELS & RESORTS INC |  | 36300 |  | 2742828 |
|  | XOMETRY INC | XOMETRY INC |  | 7412 |  | 440792 |
|  | XPO INC | XPO INC |  | 29900 |  | 4063709 |
|  | YUM BRANDS INC | YUM BRANDS INC |  | 67159 |  | 10159814 |
|  | ZIMMER BIOMET HLDGS INC | ZIMMER BIOMET HLDGS INC |  | 134100 |  | 12058272 |
|  | ZOOM COMMUNICATIONS INC CL A | ZOOM COMMUNICATIONS INC CL A |  | 47400 |  | 4090146 |
|  | ZSCALER INC | ZSCALER INC |  | 19300 |  | 4340956 |
|  | COMMON/COLLECTIVE TRUST |  |  |  |  | 6701837103 |
|  | GLOBAL TRUST COMPANY | ARROWSTREET INTERNATIONAL EQUITY EAFE CIT CLASS B |  | 709343 |  | 158557476 |
|  | SEI TRUST COMPANY | AXIOM INTERNATIONAL SMALL CAP TRUST 2 |  | 1220331 |  | 26139489 |
| \* | FIDELITY INSTITUTIONAL ASSET MANAGEMENT | FIAM EMERGING MARKETS EQUITY SMALL CAP COMMINGLED |  | 1612911 |  | 38322754 |
| \* | FIDELITY MANAGEMENT TRUST COMPANY | FIDELITY BLUE CHIP GROWTH COMMINGLED POOL - CLASS |  | 5907734 |  | 353282509 |
| \* | FIDELITY MANAGEMENT TRUST COMPANY | **FID CONTRA POOL CLASS F** |  | 14825170 |  | 829616539 |
|  | NORTHERN TRUST COMPANY | NORTHERN TRUST COLLECTIVE RUSSELL 2000 INDEX FUND |  | 56024 |  | 10293837 |
|  | NORTHERN TRUST COMPANY | NORTHERN TRUST COLLECTIVE S&P 400 INDEX FUND - DC |  | 100343 |  | 20821166 |
|  | NT S&P 500 IDX NL 466586Y | NORTHERN TRUST COLLECTIVE S&P 500 INDEX FUND - DC |  | 2512311 |  | 866728950 |
|  | NORTHERN TRUST COMPANY | NT COLLECTIVE RUSSELL 1000 GROWTH INDEX FUND - DC |  | 74242 |  | 19279841 |
|  | VANGUARD TDF | VANGUARD TARGET RETIREMENT INCOME |  | 13439638 |  | 299300735 |
|  | VANGUARD TDF | VANGUARD TARGET 2020 |  | 1260535 |  | 28311626 |
|  | VANGUARD TDF | VANGUARD TARGET 2025 |  | 33386415 |  | 767219826 |
|  | VANGUARD TDF | VANGUARD TARGET 2030 |  | 9269616 |  | 216074761 |
|  | VANGUARD TDF | VANGUARD TARGET 2035 |  | 46278063 |  | 1092162283 |
|  | VANGUARD TDF | VANGUARD TARGET 2040 |  | 6282661 |  | 150029955 |
|  | VANGUARD TDF | VANGUARD TARGET 2045 |  | 39844604 |  | 962645641 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | VANGUARD TDF | VANGUARD TARGET 2050 |  | 5683934 |  | 139028044 |
|  | VANGUARD TDF | VANGUARD TARGET 2055 |  | 20624876 |  | 504690716 |
|  | VANGUARD TDF | VANGUARD TARGET 2060 |  | 4167199 |  | 101971357 |
|  | VANGUARD TDF | VANGUARD TARGET 2065 |  | 3624597 |  | 88693892 |
|  | VANGUARD TDF | VANGUARD TARGET 2070 |  | 1172421 |  | 28665706 |
|  | CORPORATE BONDS |  |  |  |  | 593950900 |
|  | 6297782 LLC | SOUTH BOW USA INFRASTRUCTURE HOLDINGS LLC 4.911% 0 | 4.91% | 855000 | 9/1/2027 | 862821 |
|  | ABU DHABI DEVELOPMENTAL HOLDING CO PJSC | ABU DHABI DEVELOPMENTAL HOLDING CO PJSC 4.5% 05/06 | 4.50% | 1155000 | 5/6/2030 | 1162404 |
|  | AERCAP IRELAND CAP LTD / AERCAP GLOBAL A | AERCAP IRELAND CAPITAL DAC / AERCAP GLOBAL AVIATIO | 6.45% | 1478000 | 4/15/2027 | 1518268 |
|  | AERCAP IRELAND CAP LTD / AERCAP GLOBAL A | AERCAP IRELAND CAPITAL DAC / AERCAP GLOBAL AVIATIO | 6.10% | 225000 | 1/15/2027 | 229254 |
|  | AES CORP | **AES CORP 1.375% 01/15/2026** | 1.38% | 1213000 | 1/15/2026 | 1211598 |
|  | AFFIRM ASSET SECURITIZATION TRUST 2025-X | SEAFFIRM ASSET SECURITIZATION TRUST 2025-X2 4.66% | 4.45% | 704233 | 10/15/2030 | 704904 |
|  | AFFIRM MASTER TRUST | AFFIRM MASTER TRUST 4.45% 10/16/2034 144A | 4.45% | 660000 | 10/16/2034 | 662330 |
|  | AFFIRM MASTER TRUST | AFFIRM MASTER TRUST 5.06% 07/15/2033 144A | 5.06% | 535000 | 7/15/2033 | 538594 |
|  | AFFIRM MASTER TRUST | AFFIRM MASTER TRUST 4.67% 07/15/2033 144A | 4.67% | 510000 | 7/15/2033 | 513489 |
|  | AIG GLOBAL FDG SR MTN | COREBRIDGE GBL FUNDING 4.25% 08/21/2028 144A | 4.25% | 600000 | 8/21/2028 | 601529 |
|  | AIG GLOBAL FDG SR MTN | COREBRIDGE GBL FUNDING 4.65% 08/20/2027 144A | 4.65% | 310000 | 8/20/2027 | 312887 |
|  | AIG GLOBAL FDG SR MTN | COREBRIDGE GBL FUNDING 5.2% 01/12/2029 144A | 5.20% | 305000 | 1/12/2029 | 312840 |
|  | ALINEA CLO 2018-1 LTD | ALINEA CLO 2018-1 LTD TSFR3M+115 07/20/2031 144A | 5.03% | 250000 | 7/20/2031 | 250036 |
|  | ALINEA CLO 2018-1 LTD | ALINEA CLO 2018-1 LTD TSFR3M+90 07/20/2031 144A | 4.78% | 7986 | 7/20/2031 | 7986 |
|  | ALLY AUTO RECEIVABLES TR 2023-A | ALLY AUTO RECEIVABLES TR 2023-A C 6.08% 01/17/2034 | 6.08% | 259435 | 1/17/2034 | 261795 |
|  | ALLY AUTO RECEIVABLES TR 2023-A | ALLY AUTO RECEIVABLES TR 2023-A B 6.01% 01/17/2034 | 6.01% | 5758 | 1/17/2034 | 5762 |
|  | ALLY BK MIDVALE UTAH | ALLY BK MIDVALE UTAH 24-A C 6.022% 05/17/2032 144A | 6.02% | 118595 | 5/17/2032 | 120646 |
|  | ALLY BK MIDVALE UTAH | ALLY BK MIDVALE UTAH 2025-B C 4.697% 09/15/2033 14 | 4.70% | 371962 | 9/15/2033 | 374219 |
|  | ALLY BK MIDVALE UTAH | ALLY BK MIDVALE UTAH 2025-B B 4.501% 09/15/2033 14 | 4.50% | 306869 | 9/15/2033 | 308059 |
|  | ALLY BK MIDVALE UTAH | ALLY BK MIDVALE UTAH 24-B C 5.215% 09/15/2032 144A | 5.22% | 145252 | 9/15/2032 | 146553 |
|  | ALLY BK MIDVALE UTAH | ALLY BK MIDVALE UTAH 4.97% 09/15/2032 144A | 4.97% | 145252 | 9/15/2032 | 146665 |
|  | AMEREN CORP | AMEREN CORP 1.95% 03/15/2027 | 1.95% | 473000 | 3/15/2027 | 461676 |
|  | AMERICAN ELECTRIC POWER INC | AMERICAN ELECTRIC POWER INC 5.2% 01/15/2029 | 5.20% | 1090000 | 1/15/2029 | 1123460 |
|  | AMERICAN EXPRESS CO | AMERICAN EXPRESS CO 4.731%/VAR 04/25/2029 | 4.73% | 675000 | 4/25/2029 | 685357 |
|  | AMERICAN EXPRESS CO | AMERICAN EXPRESS CO 5.043%/VAR 07/26/2028 | 5.04% | 550000 | 7/26/2028 | 559283 |
|  | AMERICAN EXPRESS CO | AMERICAN EXPRESS CO 5.532%/VAR 04/25/2030 | 5.53% | 670000 | 4/25/2030 | 698945 |
|  | AMERICAN EXPRESS CO | AMERICAN EXPRESS CO 5.098%/VAR 02/16/2028 | 5.10% | 345000 | 2/16/2028 | 349007 |
|  | AMERICAN HONDA FINANCE CORP | AMERICAN HONDA FINANCE CORP 5.65% 11/15/2028 | 5.65% | 990000 | 11/15/2028 | 1032681 |
|  | AMERICAN TOWER CORP | AMERICAN TOWER CORP 1.6% 04/15/2026 | 1.60% | 1458000 | 4/15/2026 | 1448094 |
|  | AMERICAN TOWER CORP | AMERICAN TOWER CORP 3.55% 07/15/2027 | 3.55% | 589000 | 7/15/2027 | 584329 |
|  | AMERICREDIT AUTOMOBILE RECEIVABLES TRUST | AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2023-1 5. | 5.80% | 335000 | 12/18/2028 | 340264 |
|  | AMERICREDIT AUTOMOBILE RECEIVABLES TRUST | AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2021-2 D | 1.29% | 1495000 | 6/18/2027 | 1492891 |
|  | AMERICREDIT AUTOMOBILE RECEIVABLES TRUST | AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2022-2 4. | 4.81% | 574093 | 4/18/2028 | 574509 |
|  | AMERISOURCEBERGEN CORP | CENCORA INC 4.625% 12/15/2027 | 4.63% | 510000 | 12/15/2027 | 516467 |
|  | AMERISOURCEBERGEN CORP | CENCORA INC 3.45% 12/15/2027 | 3.45% | 182000 | 12/15/2027 | 180387 |
|  | AMPHENOL CORPORATION NEW | AMPHENOL CORPORATION NEW 4.75% 03/30/2026 | 4.75% | 345000 | 3/30/2026 | 345646 |
|  | AMUR EQUIPMENT FINANCE RECEIVABLES XIV L | AMUR EQUIPMENT FINANCE RECEIVABLES XIV LLC 5.97% 10/20/2031 | 5.97% | 140000 | 10/20/2031 | 143337 |
|  | ANTHELION CLO 2025-1 LTD | ANTHELION CLO 2025-1 LTD A1 TSFR3M+150 07/20/2036 | 5.82% | 890000 | 7/20/2036 | 891204 |
|  | ANTHEM INC | ELEVANCE HEALTH INC 2.25% 05/15/2030 | 2.25% | 450000 | 5/15/2030 | 413153 |
|  | ANTHEM INC | ELEVANCE HEALTH INC 4.75% 02/15/2030 | 4.75% | 375000 | 2/15/2030 | 382471 |
|  | ANTHEM INC | ELEVANCE HEALTH INC 4.75% 02/15/2030 | 4.75% | 600000 | 2/15/2030 | 611953 |
|  | APPALACHIAN POWER CO | APPALACHIAN POWER CO 3.3% 06/01/2027 | 3.30% | 1348000 | 6/1/2027 | 1335128 |
|  | APTARGROUP INC | APTARGROUP INC 4.75% 03/30/2031 | 4.75% | 295000 | 3/30/2031 | 297083 |
|  | ARBYS FUNDING 2015-1A LLC | ARBYS FUNDING 2015-1A LLC 3.237% 07/30/2050 144A | 3.24% | 1511263 | 7/30/2050 | 1472056 |
|  | ARI FLEET LEASE TRUST 2023-A | ARI FLEET LEASE TRUST 2023-A 5.41% 02/17/2032 144A | 5.41% | 43466 | 2/17/2032 | 43487 |
|  | ARI FLEET LEASE TRUST 2024-B | ARI FLEET LEASE TRUST 2024-B 5.54% 04/15/2033 144A | 5.54% | 347444 | 4/15/2033 | 349943 |

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------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | ASPEN INSURANCE | ASPEN INSURANCE HLDS LTD 5.75% 07/01/2030 | 5.75% | 385000 | 7/1/2030 | 401360 |
|  | AT&T INC | AT&T INC 2.75% 06/01/2031 | 2.75% | 825000 | 6/1/2031 | 757674 |
|  | AT&T INC | AT&T INC 4.1% 02/15/2028 | 4.10% | 330000 | 2/15/2028 | 330145 |
|  | AT&T INC | AT&T INC 2.75% 06/01/2031 | 2.75% | 650000 | 6/1/2031 | 596955 |
|  | ATHENE GLOBAL FUNDING | ATHENE GLOBAL FUNDING 4.86% 08/27/2026 144A | 4.86% | 665000 | 8/27/2026 | 667488 |
|  | ATHENE GLOBAL FUNDING | ATHENE GLOBAL FUNDING 5.349% 07/09/2027 144A | 5.35% | 655000 | 7/9/2027 | 665793 |
|  | ATHENE GLOBAL FUNDING | ATHENE GLOBAL FUNDING 5.684% 02/23/2026 144A | 5.68% | 890000 | 2/23/2026 | 891796 |
|  | ATLASSIAN CORP PLC | ATLASSIAN CORP PLC 5.25% 05/15/2029 | 5.25% | 335000 | 5/15/2029 | 344305 |
|  | AUTOZONE INC | AUTOZONE INC 5.165% 06/15/2030 | 5.17% | 640000 | 6/15/2030 | 660053 |
|  | AUXILIOR TERM FDG 2023-1 LLC | AUXILIOR TERM FUNDING 2023-1 LLC 23-1A A2 6.18% 12/15/2028 | 6.18% | 223844 | 12/15/2028 | 224955 |
|  | AUXILIOR TERM FUNDING 2024-1 LLC | AUXILIOR TERM FUNDING 2024-1 LLC 24-1A A3 5.49% 07/15/20231 | 5.49% | 375000 | 7/15/2031 | 381798 |
|  | Avis Budget Rental Car Funding LLC | AVIS BUDGET RENTCAR FDG AE LLC 4.95% 02/20/2030 14 | 4.95% | 100000 | 2/20/2030 | 100345 |
|  | Avis Budget Rental Car Funding LLC | AVIS BUDGET RENTCAR FDG AE LLC 4.46% 02/20/2030 14 | 4.46% | 140000 | 2/20/2030 | 139982 |
|  | Avis Budget Rental Car Funding LLC | AVIS BUDGET RENTCAR FDG AE LLC 6.12% 04/20/2028 14 | 6.12% | 1575000 | 4/20/2028 | 1604765 |
|  | Avis Budget Rental Car Funding LLC | AVIS BUDGET RENTCAR FDG AE LLC 6.18% 10/20/2027 14 | 6.18% | 195000 | 10/20/2027 | 196549 |
|  | Avis Budget Rental Car Funding LLC | AVIS BUDGET RENTCAR FDG AE LLC 6.24% 04/20/2027 14 | 6.24% | 180000 | 4/20/2027 | 180496 |
|  | AVOLON HLDGS FDG LTD | AVOLON HOLDINGS FUNDING LTD 5.75% 03/01/2029 144A | 5.75% | 635000 | 3/1/2029 | 656610 |
|  | AVOLON HLDGS FDG LTD | AVOLON HOLDINGS FUNDING LTD 6.375% 05/04/2028 144A | 6.38% | 300000 | 5/4/2028 | 312591 |
|  | AVOLON HLDGS FDG LTD | AVOLON HOLDINGS FUNDING LTD 2.125% 02/21/2026 144A | 2.13% | 469000 | 2/21/2026 | 467469 |
|  | BACARDI LTD | BACARDI LTD 4.7% 05/15/2028 144A | 4.70% | 1435000 | 5/15/2028 | 1445685 |
|  | BAE SYSTEMS PLC | BAE SYSTEMS PLC 5% 03/26/2027 144A | 5.00% | 715000 | 3/26/2027 | 723562 |
|  | BALBOA BAY LOAN FUNDING 2023-1 LTD | BALBOA BAY LOAN FUNDING LTD 2023-1A ARR TSFR3M+11 | 5.04% | 555000 | 4/20/2036 | 556294 |
|  | BANCO SANTAND CTRL HISPANO SA | BANCO SANTANDER SA 5.552%/VAR 03/14/2028 | 5.55% | 600000 | 3/14/2028 | 610034 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 4.25% 10/22/2026 | 4.25% | 275000 | 10/22/2026 | 275646 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 4.183% 11/25/2027 | 4.18% | 450000 | 11/25/2027 | 451080 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 2.496%/VAR 02/13/2031 | 2.50% | 455000 | 2/13/2031 | 423803 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 2.572%/VAR 10/20/2032 | 2.57% | 450000 | 10/20/2032 | 405856 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 3.846%/VAR 03/08/2037 | 3.85% | 1375000 | 3/8/2037 | 1294886 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 4.623%/VAR 05/09/2029 | 4.62% | 925000 | 5/9/2029 | 937271 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 4.623%/VAR 05/09/2029 | 4.62% | 1155000 | 5/9/2029 | 1170322 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 5.08%/VAR 01/20/2027 | 5.08% | 345000 | 1/20/2027 | 345167 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 1.734%/VAR 07/22/2027 | 1.73% | 405000 | 7/22/2027 | 399833 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 4.623%/VAR 05/09/2029 | 4.62% | 475000 | 5/9/2029 | 481301 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 4.979%/VAR 01/24/2029 | 4.98% | 275000 | 1/24/2029 | 280146 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 6.204%/VAR 11/10/2028 | 6.20% | 250000 | 11/10/2028 | 259778 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 3.846%/VAR 03/08/2037 | 3.85% | 1100000 | 3/8/2037 | 1035909 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 2.496%/VAR 02/13/2031 | 2.50% | 200000 | 2/13/2031 | 186287 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 3.419%/VAR 12/20/2028 | 3.42% | 350000 | 12/20/2028 | 345598 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 4.45% 03/03/2026 | 4.45% | 150000 | 3/3/2026 | 150108 |
|  | BANK OF AMERICA CORPORATION | BANK OF AMERICA CORPORATION 4.25% 10/22/2026 | 4.25% | 325000 | 10/22/2026 | 325764 |
|  | BANK OF NEW YORK NA | BANK OF NEW YORK MELLON 4.729%/VAR 04/20/2029 | 4.73% | 840000 | 4/20/2029 | 853835 |
|  | BANQUE FED CRED MUTUEL PARIS | BANQUE FED CRED MUTUEL PARIS 4.935% 01/26/2026 144 | 4.94% | 600000 | 1/26/2026 | 600350 |
|  | BARCLAYS PLC | BARCLAYS PLC 4.836% 05/09/2028 | 4.84% | 1187000 | 5/9/2028 | 1197141 |
|  | BARCLAYS PLC | BARCLAYS PLC 5.501%/VAR 08/09/2028 | 5.50% | 525000 | 8/9/2028 | 536379 |
|  | BARCLAYS PLC | BARCLAYS PLC 5.829%/VAR 05/09/2027 | 5.83% | 500000 | 5/9/2027 | 502814 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | BARCLAYS PLC | BARCLAYS PLC 6.49%/VAR 09/13/2029 | 6.49% | 500000 | 9/13/2029 | 528403 |
|  | BARCLAYS PLC | BARCLAYS PLC 4.476%/VAR 11/11/2029 | 4.48% | 540000 | 11/11/2029 | 542980 |
|  | BARCLAYS PLC | BARCLAYS PLC 5.086%/VAR 02/25/2029 | 5.09% | 860000 | 2/25/2029 | 876417 |
|  | BARCLAYS PLC | BARCLAYS PLC 5.829%/VAR 05/09/2027 | 5.83% | 200000 | 5/9/2027 | 201125 |
|  | BARCLAYS PLC | BARCLAYS PLC 5.501%/VAR 08/09/2028 | 5.50% | 725000 | 8/9/2028 | 740713 |
|  | BARCLAYS PLC | BARCLAYS PLC 4.836% 05/09/2028 | 4.84% | 700000 | 5/9/2028 | 705980 |
|  | BAT CAPITAL CORP | BAT CAPITAL CORP 6.421% 08/02/2033 | 6.42% | 875000 | 8/2/2033 | 965506 |
|  | BAT CAPITAL CORP | BAT CAPITAL CORP 2.259% 03/25/2028 | 2.26% | 375000 | 3/25/2028 | 360851 |
|  | BAT CAPITAL CORP | BAT CAPITAL CORP 2.726% 03/25/2031 | 2.73% | 400000 | 3/25/2031 | 368792 |
|  | BAT CAPITAL CORP | BAT CAPITAL CORP 4.742% 03/16/2032 | 4.74% | 575000 | 3/16/2032 | 580248 |
|  | BAT CAPITAL CORP | BAT CAPITAL CORP 4.742% 03/16/2032 | 4.74% | 400000 | 3/16/2032 | 403651 |
|  | BAT CAPITAL CORP | BAT CAPITAL CORP 2.726% 03/25/2031 | 2.73% | 150000 | 3/25/2031 | 138297 |
|  | BAT CAPITAL CORP | BAT CAPITAL CORP 2.259% 03/25/2028 | 2.26% | 125000 | 3/25/2028 | 120284 |
|  | BAT CAPITAL CORP | BAT CAPITAL CORP 6.421% 08/02/2033 | 6.42% | 375000 | 8/2/2033 | 413788 |
|  | BAT INTL FINANCE PLC | BAT INTL FINANCE PLC 4.448% 03/16/2028 | 4.45% | 1635000 | 3/16/2028 | 1647701 |
|  | BAT INTL FINANCE PLC | BAT INTL FINANCE PLC 1.668% 03/25/2026 | 1.67% | 850000 | 3/25/2026 | 845307 |
|  | BATTALION CLO X LTD / BATTALION CLO X LL | BATTALION CLO X LTD 16-10A A2R3 TSFR3M+175 01/24/2035 | 5.48% | 1610000 | 1/24/2035 | 1610747 |
|  | BATTALION CLO XII LTD | BATTALION CLO XII LTD 12A CRR TSFR3M+155 05/17/2031 | 5.40% | 760000 | 5/17/2031 | 759099 |
|  | BATTALION CLO XII LTD | BATTALION CLO XII LTD 12A BRR TSFR3M+120 05/17/2031 | 5.39% | 700000 | 5/17/2031 | 697096 |
|  | BATTALION CLO XV LTD / BATTALION CLO XV | BATTALION CLO XV LTD / BATTALION CLO XV LLC 20-15A | 5.78% | 515000 | 1/17/2033 | 512458 |
|  | BATTALION CLO XXI LTD | BATTALION CLO XXI LTD BR TSFR3M+170 07/15/2034 144 | 5.60% | 455000 | 7/15/2034 | 454238 |
|  | BAYER AG | BAYER US FIN II LLC 4.375% 12/15/2028 144A | 4.38% | 1300000 | 12/15/2028 | 1301425 |
|  | BAYER AG | BAYER US FIN II LLC 4.375% 12/15/2028 144A | 4.38% | 825000 | 12/15/2028 | 825904 |
|  | BAYER US FIN LLC | BAYER US FIN LLC 6.5% 11/21/2033 144A | 6.50% | 200000 | 11/21/2033 | 216519 |
|  | BAYVIEW OPPORTUNITY MASTER FD VII 2025-E | BAYVIEW OPPORTUNITY MASTER FUND VII 2025-EDU1 LLC | 5.57% | 717800 | 7/27/2048 | 717798 |
|  | BAYVIEW OPPORTUNITY MASTER FD VII 2025-E | BAYVIEW OPPORTUNITY MASTER FD VII 2025-EDU1 LLC SO | 5.17% | 236179 | 7/27/2048 | 236603 |
|  | BAYVIEW OPPORTUNITY MASTER FUND VII 2024 | BAYVIEW OPPORTUNITY MASTER FUND VII 2024-CAR1 LLC | 4.97% | 163286 | 12/26/2031 | 163746 |
|  | BECTON DICKINSON & CO | BECTON DICKINSON & CO 4.693% 02/13/2028 | 4.69% | 1325000 | 2/13/2028 | 1342526 |
|  | BLUE OWL ASSET LEASING TRUST 2024-1 LLC | BLUE OWL ASSET LEASING TRUST 2024-1 LLC 5.41% 03/15/2030 | 5.41% | 170000 | 3/15/2030 | 171962 |
|  | BLUE OWL ASSET LEASING TRUST 2024-1 LLC | BLUE OWL ASSET LEASING TRUST 2024-1A A2 LLC 5.05% 03/15/2029 | 5.05% | 317284 | 3/15/2029 | 318503 |
|  | BLUEMOUNTAIN CLO 2016-3 LTD | BLUEMOUNTAIN CLO 2016-3 LTD TSFR3M+120 11/15/2030 | 5.05% | 325833 | 11/15/2030 | 325890 |
|  | BLUEMOUNTAIN CLO 2018-3 LTD / BLUEMOUNTA | BLUEMOUNTAIN CLO 2018-3A A1R LTD/LLC TSFR3M+119 10/25/2030 | 5.05% | 274680 | 10/25/2030 | 275035 |
|  | BMW US CAPITAL LLC | BMW US CAPITAL LLC 4.6% 08/13/2027 144A | 4.60% | 1485000 | 8/13/2027 | 1500296 |
|  | BNP PARIBAS | BNP PARIBAS 4.375% 05/12/2026 144A | 4.38% | 1175000 | 5/12/2026 | 1174716 |
|  | BNP PARIBAS | BNP PARIBAS 4.625% 03/13/2027 144A | 4.63% | 1197000 | 3/13/2027 | 1201478 |
|  | BNP PARIBAS | BNP PARIBAS 5.085%/VAR 05/09/2031 144A | 5.08% | 475000 | 5/9/2031 | 484891 |
|  | BNP PARIBAS | BNP PARIBAS 4.792%/VAR 05/09/2029 144A | 4.79% | 1175000 | 5/9/2029 | 1188050 |
|  | BNP PARIBAS | BNP PARIBAS 5.085%/VAR 05/09/2031 144A | 5.08% | 775000 | 5/9/2031 | 791137 |
|  | BNP PARIBAS | BNP PARIBAS 5.786%/VAR 01/13/2033 144A | 5.79% | 525000 | 1/13/2033 | 551111 |
|  | BNP PARIBAS | BNP PARIBAS 2.588%/VAR 08/12/2035 144A | 2.59% | 275000 | 8/12/2035 | 248630 |
|  | BNP PARIBAS | BNP PARIBAS 4.625% 03/13/2027 144A | 4.63% | 425000 | 3/13/2027 | 426590 |
|  | BNP PARIBAS | BNP PARIBAS 4.375% 05/12/2026 144A | 4.38% | 400000 | 5/12/2026 | 399903 |
|  | BOEING CO | BOEING CO 6.259% 05/01/2027 | 6.26% | 1244000 | 5/1/2027 | 1276364 |
|  | BOEING CO | BOEING CO 2.196% 02/04/2026 | 2.20% | 505000 | 2/4/2026 | 504039 |
|  | BOEING CO | BOEING CO 3.2% 03/01/2029 | 3.20% | 635000 | 3/1/2029 | 615615 |
|  | BOOZ ALLEN AND HAMILTON INC | BOOZ ALLEN AND HAMILTON INC 4% 07/01/2029 144A | 4.00% | 165000 | 7/1/2029 | 161209 |
|  | BOOZ ALLEN AND HAMILTON INC | BOOZ ALLEN AND HAMILTON INC 3.875% 09/01/2028 144A | 3.88% | 1520000 | 9/1/2028 | 1491902 |
|  | BOSTON PPTY LTD PARTNERSHIP | BOSTON PROPERTIES LP 3.65% 02/01/2026 | 3.65% | 675000 | 2/1/2026 | 674504 |
|  | BOSTON PPTY LTD PARTNERSHIP | BOSTON PROPERTIES LP 4.5% 12/01/2028 | 4.50% | 475000 | 12/1/2028 | 478070 |
|  | BOSTON PPTY LTD PARTNERSHIP | BOSTON PROPERTIES LP 3.25% 01/30/2031 | 3.25% | 1150000 | 1/30/2031 | 1078551 |
|  | BOSTON PPTY LTD PARTNERSHIP | BOSTON PROPERTIES LP 6.5% 01/15/2034 | 6.50% | 275000 | 1/15/2034 | 296022 |
|  | BOSTON PPTY LTD PARTNERSHIP | BOSTON PROPERTIES LP 3.25% 01/30/2031 | 3.25% | 650000 | 1/30/2031 | 609616 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | BOSTON PPTY LTD PARTNERSHIP | BOSTON PROPERTIES LP 2.9% 03/15/2030 | 2.90% | 225000 | 3/15/2030 | 210960 |
|  | BOSTON PPTY LTD PARTNERSHIP | BOSTON PROPERTIES LP 4.5% 12/01/2028 | 4.50% | 850000 | 12/1/2028 | 855494 |
|  | BRE GRAND ISLANDER TIMESHARE ISSUER 2019 | BRE GRAND ISLANDER TIMESHARE ISSUER 2019-A LLC 3.2 | 3.28% | 82155 | 9/26/2033 | 81634 |
|  | BRIGHTHOUSE FINANCIAL GLOBAL FUNDING | BRIGHTHOUSE FINANCIAL GLOBAL FUNDING 1.55% 05/24/2026 | 1.55% | 230000 | 5/24/2026 | 227517 |
|  | BROWN & BROWN INC | BROWN & BROWN INC 4.7% 06/23/2028 | 4.70% | 330000 | 6/23/2028 | 333956 |
|  | BUNGE LTD FIN CORP | BUNGE LTD FIN CORP 4.9% 04/21/2027 | 4.90% | 975000 | 4/21/2027 | 985892 |
|  | BUNGE LTD FIN CORP | BUNGE LTD FIN CORP 2% 04/21/2026 | 2.00% | 200000 | 4/21/2026 | 198761 |
|  | CAIXABANK SA | CAIXABANK SA 6.684%/VAR 09/13/2027 144A | 6.68% | 1240000 | 9/13/2027 | 1261481 |
|  | CANADIAN NATL RESOURCES LTD | CANADIAN NATL RESOURCES LTD 3.85% 06/01/2027 | 3.85% | 660000 | 6/1/2027 | 658201 |
|  | CANYON CAPITAL CLO 2019-2 LTD | CANYON CAPITAL CLO 2019-2 LTD TSFR3M+ 10/15/2034 1 | 4.91% | 815000 | 10/15/2034 | 813203 |
|  | CAPITAL ONE FINANCIAL CORP | CAPITAL ONE FIN CORP 4.927%/VAR 05/10/2028 | 4.93% | 300000 | 5/10/2028 | 303533 |
|  | CAPITAL ONE FINANCIAL CORP | CAPITAL ONE FIN CORP 7.624%/VAR 10/30/2031 | 7.62% | 875000 | 10/30/2031 | 988878 |
|  | CAPITAL ONE FINANCIAL CORP | CAPITAL ONE FIN CORP 7.149%/VAR 10/29/2027 | 7.15% | 380000 | 10/29/2027 | 389055 |
|  | CAPITAL ONE FINANCIAL CORP | CAPITAL ONE FIN CORP 7.624%/VAR 10/30/2031 | 7.62% | 125000 | 10/30/2031 | 141268 |
|  | CAPITAL ONE FINANCIAL CORP | CAPITAL ONE FIN CORP 6.312%/VAR 06/08/2029 | 6.31% | 250000 | 6/8/2029 | 262363 |
|  | CAPITAL ONE FINANCIAL CORP | CAPITAL ONE FIN CORP 5.268%/VAR 05/10/2033 | 5.27% | 375000 | 5/10/2033 | 384616 |
|  | CAPITAL ONE FINANCIAL CORP | CAPITAL ONE FIN CORP 4.927%/VAR 05/10/2028 | 4.93% | 375000 | 5/10/2028 | 379416 |
|  | CARMAX AUTO OWNER TR 2023-2 | CARMAX AUTO OWNER TR 2023-2 D 6.55% 10/15/2029 | 6.55% | 635000 | 10/15/2029 | 648444 |
|  | CARMAX AUTO OWNER TR 2023-2 | CARMAX AUTO OWNER TR 2023-2 C 5.57% 11/15/2028 | 5.57% | 955000 | 11/15/2028 | 968370 |
|  | CARMAX AUTO OWNER TRUST 2022-4 | CARMAX AUTO OWNER TRUST 2022-4 8.08% 04/16/2029 | 8.08% | 600000 | 4/16/2029 | 619576 |
|  | CARMAX AUTO OWNER TRUST 2024-1 | CARMAX AUTO OWNER TRUST 2024-1 5.47% 08/15/2029 | 5.47% | 475000 | 8/15/2029 | 485119 |
|  | CARMAX AUTO OWNER TRUST 2024-3 | CARMAX AUTO OWNER TRUST 2024-3 5.67% 01/15/2031 | 5.67% | 195000 | 1/15/2031 | 198667 |
|  | CARMAX SELECT RECEIVABLES TRUST 2024-A | CARMAX SELECT RECEIVABLES TRUST 2024-A 5.62% 01/15 | 5.62% | 885000 | 1/15/2030 | 905406 |
|  | CARMAX SELECT RECEIVABLES TRUST 2024-A | CARMAX SELECT RECEIVABLES TRUST 2024-A 5.35% 01/15 | 5.35% | 210000 | 1/15/2030 | 213069 |
|  | CARMX 2023-3 A3 | CARMX 2023-3 A3 6.44% 12/16/2030 | 6.44% | 345000 | 12/16/2030 | 353253 |
|  | CARMX 2023-3 A3 | CARMX 2023-3 A3 5.61% 02/15/2029 | 5.61% | 1075000 | 2/15/2029 | 1094185 |
|  | CARVANA AUTO RECEIVABLES TR 2025-P4 | CARVANA AUTO RECEIVABLES TR 2025-P4 D 5.62% 11/10/2033 | 5.62% | 120000 | 11/10/2033 | 119942 |
|  | CARVANA AUTO RECEIVABLES TR 2025-P4 | CARVANA AUTO RECEIVABLES TR 2025-P4 C 5.04% 04/12/2032 | 5.04% | 100000 | 4/12/2032 | 99960 |
|  | CARVANA AUTO RECEIVABLES TRUST 2024-N2 | CARVANA AUTO RECEIVABLES TRUST 2024-N2 C 5.82% 09/10/2030 | 5.82% | 1345000 | 9/10/2030 | 1373225 |
|  | CARVANA AUTO RECEIVABLES TRUST 2024-N2 | CARVANA AUTO RECEIVABLES TRUST 2024-N2 B 5.67% 09/10/2030 | 5.67% | 630000 | 9/10/2030 | 637710 |
|  | CB RICHARD ELLIS SERVICES INC | CBRE SERVICES INC 5.1% 06/15/2030 | 5.10% | 315000 | 6/15/2030 | 319363 |
|  | CCO HLDGS LLC/CAP CORP | CCO HLDGS LLC/CAP CORP 4.5% 05/01/2032 | 4.50% | 375000 | 5/1/2032 | 336576 |
|  | CCO HLDGS LLC/CAP CORP | CCO HLDGS LLC/CAP CORP 4.25% 01/15/2034 144A | 4.25% | 1900000 | 1/15/2034 | 1615521 |
|  | CCO HLDGS LLC/CAP CORP | CCO HLDGS LLC/CAP CORP 4.25% 01/15/2034 144A | 4.25% | 850000 | 1/15/2034 | 722733 |
|  | CCO HLDGS LLC/CAP CORP | CCO HLDGS LLC/CAP CORP 4.5% 05/01/2032 | 4.50% | 675000 | 5/1/2032 | 605838 |
|  | CCO HLDGS LLC/CAP CORP | CCO HLDGS LLC/CAP CORP 4.5% 06/01/2033 144A | 4.50% | 300000 | 6/1/2033 | 262608 |
|  | CELANESE US HLDGS LLC | CELANESE US HLDGS LLC 1.4% 08/05/2026 | 1.40% | 665000 | 8/5/2026 | 654377 |
|  | CEMEX SA | CEMEX SAB DE CV 5.2% 09/17/2030 144A | 5.20% | 2400000 | 9/17/2030 | 2430576 |
|  | CEMEX SA | CEMEX SAB DE CV 5.2% 09/17/2030 144A | 5.20% | 1275000 | 9/17/2030 | 1291244 |
|  | CENTENE CORP DEL | CENTENE CORP 4.625% 12/15/2029 | 4.63% | 1500000 | 12/15/2029 | 1454916 |
|  | CHARTER COMM OPER LLC/CAP CORP | CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COM | 5.75% | 2800000 | 4/1/2048 | 2388360 |
|  | CHARTER COMM OPER LLC/CAP CORP | CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COM | 4.40% | 200000 | 4/1/2033 | 188414 |
|  | CHARTER COMM OPER LLC/CAP CORP | CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COM | 4.40% | 125000 | 4/1/2033 | 117759 |
|  | CHARTER COMM OPER LLC/CAP CORP | CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COM | 5.38% | 450000 | 5/1/2047 | 370685 |
|  | CHARTER COMM OPER LLC/CAP CORP | CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COM | 6.48% | 625000 | 10/23/2045 | 587604 |
|  | CHASE AUTO CREDIT LINKED NOTES SERIES 20 | CHASE AUTO CREDIT LINKED NOTES SERIES 2020-1 4.753 | 4.75% | 446009 | 2/25/2033 | 449427 |
|  | CHENANGO PARK CLO LTD | CHENANGO PARK CLO LTD 18-1A BR TSFR3M+180 04/15/2030 | 5.70% | 960000 | 4/15/2030 | 960775 |
|  | CHENANGO PARK CLO LTD | CHENANGO PARK CLO LTD 18-1A A2R TSFR3M+145 04/15/2030 | 5.35% | 455000 | 4/15/2030 | 454898 |
|  | CHENIERE CORPUS CHRISTI HLD | CHENIERE CORPUS CHRISTI HOLDINGS LLC 5.125% 06/30/2027 | 5.13% | 808000 | 6/30/2027 | 815814 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | CHENIERE ENERGY INC | CHENIERE ENERGY INC 4.625% 10/15/2028 | 4.63% | 141000 | 10/15/2028 | 140761 |
|  | CIFC FUNDING 2016-I LTD | CIFC FUNDING 2016-1A D1R3 LTD TSFR3M+250 10/21/203 | 6.17% | 480000 | 10/21/2031 | 480286 |
|  | CIFC FUNDING 2016-I LTD | CIFC FUNDING 2016-1A AR3 LTD TSFR3M+100 10/21/2031 | 4.87% | 1079176 | 10/21/2031 | 1079355 |
|  | CITIGROUP INC | CITIGROUP INC 4.125% 07/25/2028 | 4.13% | 625000 | 7/25/2028 | 624745 |
|  | CITIGROUP INC | CITIGROUP INC 5.174%/VAR 02/13/2030 | 5.17% | 605000 | 2/13/2030 | 620821 |
|  | CK HUTCHISON INTERNATIONAL 25 LTD | CK HUTCHISON INTERNATIONAL 25 LTD 4.25% 09/26/2030 | 4.25% | 880000 | 9/26/2030 | 878399 |
|  | CLOVER CLO 2019-1 LTD. | CLOVER CLO 2019-1 LTD 19-1A ARR TSFR3M+100 04/18/2035 | 4.88% | 1220000 | 4/18/2035 | 1220294 |
|  | CNH EQUIPMENT TRUST 2024-B | CNH EQUIPMENT TRUST 2024-B 5.19% 09/17/2029 | 5.19% | 385000 | 9/17/2029 | 390954 |
|  | CNO GLOBAL FUNDING | CNO GLOBAL FUNDING 4.875% 12/10/2027 144A | 4.88% | 331000 | 12/10/2027 | 335252 |
|  | CNO GLOBAL FUNDING | CNO GLOBAL FUNDING 1.75% 10/07/2026 144A | 1.75% | 1095000 | 10/7/2026 | 1075536 |
|  | COCA-COLA EUROPEAN PARTNERS PLC | COCA-COLA EUROPACIFIC PARTNERS PLC 1.5% 01/15/2027 | 1.50% | 200000 | 1/15/2027 | 194869 |
|  | COLUMBIA PIPELINES HOLDING CO LLC | COLUMBIA PIPELINES HOLDING CO LLC 6.055% 08/15/202 | 6.06% | 145000 | 8/15/2026 | 146332 |
|  | COMCAST CORP NEW | COMCAST CORP 4.95% 05/15/2032 | 4.95% | 300000 | 5/15/2032 | 307287 |
|  | COMCAST CORP NEW | COMCAST CORP 4.15% 10/15/2028 | 4.15% | 350000 | 10/15/2028 | 351886 |
|  | COMCAST CORP NEW | COMCAST CORP 4.95% 05/15/2032 | 4.95% | 225000 | 5/15/2032 | 230465 |
|  | CONAGRA FOODS INC | CONAGRA BRANDS INC CP 0% 01/06/2026 | —% | 1310000 | 1/6/2026 | 1309132 |
|  | CORPORACION NACIONAL DEL COBRE DE CHILE | CORPORACION NACIONAL DEL COBRE DE CHILE 3.625% 08/01/2027 | 3.63% | 1385000 | 8/1/2027 | 1372023 |
|  | COX COMMUNICATIONS INC | COX COMMUNICATIONS INC 3.5% 08/15/2027 144A | 3.50% | 2125000 | 8/15/2027 | 2100657 |
|  | COX COMMUNICATIONS INC | COX COMMUNICATIONS INC 5.45% 09/15/2028 144A | 5.45% | 225000 | 9/15/2028 | 231480 |
|  | COX COMMUNICATIONS INC | COX COMMUNICATIONS INC 3.5% 08/15/2027 144A | 3.50% | 345000 | 8/15/2027 | 341048 |
|  | COX COMMUNICATIONS INC | COX COMMUNICATIONS INC 3.35% 09/15/2026 144A | 3.35% | 360000 | 9/15/2026 | 358098 |
|  | COX COMMUNICATIONS INC | COX COMMUNICATIONS INC 3.5% 08/15/2027 144A | 3.50% | 450000 | 8/15/2027 | 444845 |
|  | COX COMMUNICATIONS INC | COX COMMUNICATIONS INC 3.35% 09/15/2026 144A | 3.35% | 350000 | 9/15/2026 | 348151 |
|  | CREDIT AGRC | CREDIT AGRICOLE SA 5.23%/VAR 01/09/2029 144A | 5.23% | 565000 | 1/9/2029 | 576925 |
|  | CROWN CASTLE INTL CORP | CROWN CASTLE INC 5.6% 06/01/2029 | 5.60% | 480000 | 6/1/2029 | 498073 |
|  | CROWN CASTLE INTL CORP | CROWN CASTLE INC 4.8% 09/01/2028 | 4.80% | 595000 | 9/1/2028 | 603655 |
|  | CROWN CASTLE INTL CORP | CROWN CASTLE INC 5% 01/11/2028 | 5.00% | 435000 | 1/11/2028 | 441797 |
|  | CROWN CASTLE INTL CORP | CROWN CASTLE INC 2.9% 03/15/2027 | 2.90% | 930000 | 3/15/2027 | 916603 |
|  | CROWN CASTLE INTL CORP | CROWN CASTLE INC 1.05% 07/15/2026 | 1.05% | 1135000 | 7/15/2026 | 1116230 |
|  | CROWN CASTLE INTL CORP | CROWN CASTLE INC 4.3% 02/15/2029 | 4.30% | 120000 | 2/15/2029 | 119684 |
|  | CROWN CASTLE INTL CORP | CROWN CASTLE INC 4.45% 02/15/2026 | 4.45% | 875000 | 2/15/2026 | 874839 |
|  | CROWN CASTLE INTL CORP | CROWN CASTLE INC CP 0 01/22/2026 | —% | 1630000 | 1/22/2026 | 1625822 |
|  | CROWN CASTLE TOWERS LLC | CROWN CASTLE TOWERS LLC 4.241% 07/15/2048 144A | 4.24% | 285000 | 7/15/2048 | 284069 |
|  | CROWN CASTLE TOWERS LLC | VMWARE LLC 1.4% 08/15/2026 | 1.40% | 275000 | 8/15/2026 | 270937 |
|  | CSL UK HOLDINGS LTD | CSL FINANCE PLC 3.85% 04/27/2027 144A | 3.85% | 175000 | 4/27/2027 | 174804 |
|  | CVS CORP | CVS HEALTH CORP 4.78% 03/25/2038 | 4.78% | 550000 | 3/25/2038 | 519151 |
|  | CVS CORP | CVS HEALTH CORP 1.875% 02/28/2031 | 1.88% | 350000 | 2/28/2031 | 307089 |
|  | CVS CORP | CVS HEALTH CORP 5.125% 02/21/2030 | 5.13% | 375000 | 2/21/2030 | 385262 |
|  | CVS CORP | CVS HEALTH CORP 7%/VAR 03/10/2055 | 7.00% | 1050000 | 3/10/2055 | 1101500 |
|  | CVS CORP | CVS HEALTH CORP 5% 02/20/2026 | 5.00% | 1879000 | 2/20/2026 | 1879714 |
|  | CVS CORP | CVS HEALTH CORP 1.3% 08/21/2027 | 1.30% | 1660000 | 8/21/2027 | 1587947 |
|  | CVS CORP | CVS HEALTH CORP 3% 08/15/2026 | 3.00% | 195000 | 8/15/2026 | 193706 |
|  | CVS CORP | CVS HEALTH CORP 4.3% 03/25/2028 | 4.30% | 520000 | 3/25/2028 | 521722 |
|  | CVS CORP | CVS HEALTH CORP 2.875% 06/01/2026 | 2.88% | 660000 | 6/1/2026 | 656658 |
|  | CVS CORP | CVS HEALTH CORP 7%/VAR 03/10/2055 | 7.00% | 600000 | 3/10/2055 | 629429 |
|  | CVS CORP | CVS HEALTH CORP 5.125% 02/21/2030 | 5.13% | 225000 | 2/21/2030 | 231157 |
|  | CVS CORP | CVS HEALTH CORP 1.875% 02/28/2031 | 1.88% | 300000 | 2/28/2031 | 263219 |
|  | CVS CORP | CVS HEALTH CORP 4.125% 04/01/2040 | 4.13% | 43000 | 4/1/2040 | 36747 |
|  | CVS CORP | CVS HEALTH CORP 3.75% 04/01/2030 | 3.75% | 100000 | 4/1/2030 | 97646 |
|  | CVS CORP | CVS HEALTH CORP 5.05% 03/25/2048 | 5.05% | 215000 | 3/25/2048 | 189533 |
|  | CVS CORP | CVS HEALTH CORP 4.78% 03/25/2038 | 4.78% | 217000 | 3/25/2038 | 204829 |
|  | CYRUSONE DATA CENTERS ISSUER I LLC | CYRUSONE DATA CENTERS ISSUER I LLC2A A2 4.5% 05/20/2049 | 4.50% | 1090000 | 5/20/2049 | 1064276 |
|  | DAIMLER FIN NORTH AMER LLC | MERCEDES-BENZ FINANCE NORTH AMERICA LLC 4.8% 03/30/2026 | 4.80% | 300000 | 3/30/2026 | 300558 |
|  | DAIMLER TRUCKS FINANCE NORTH AMERICA LLC | DAIMLER TRUCKS FINANCE NORTH AMERICA LLC 4.3% 08/12/2027 | 4.30% | 585000 | 8/12/2027 | 587523 |

---

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | DAIMLER TRUCKS FINANCE NORTH AMERICA LLC | DAIMLER TRUCKS FINANCE NORTH AMERICA LLC 5.125% 09/25/2027 | 5.13% | 535000 | 9/25/2027 | 543574 |
|  | DAIMLER TRUCKS FINANCE NORTH AMERICA LLC | DAIMLER TRUCKS FINANCE NORTH AMERICA LLC 5% 01/15/2027 | 5.00% | 305000 | 1/15/2027 | 307926 |
|  | DAIMLER TRUCKS FINANCE NORTH AMERICA LLC | DAIMLER TRUCKS FINANCE NORTH AMERICA LLC 5.15% 01/16/2026 | 5.15% | 150000 | 1/16/2026 | 150049 |
|  | DANSKE BANK AS | DANSKE BANK AS (UNGTD) 4.613%/VAR 10/02/2030 144A | 4.61% | 580000 | 10/2/2030 | 584827 |
|  | DANSKE BANK AS | DANSKE BANK AS (UNGTD) 5.427%/VAR 03/01/2028 144A | 5.43% | 625000 | 3/1/2028 | 634687 |
|  | DARDEN RESTAURANTS INC | DARDEN RESTAURANTS INC 4.35% 10/15/2027 | 4.35% | 845000 | 10/15/2027 | 848938 |
|  | DELL EQUIP FIN TR 2023-2 | DELL EQUIP FIN TR 2023-2 5.65% 01/22/2029 144A | 5.65% | 214322 | 1/22/2029 | 214818 |
|  | DELL EQUIP FIN TR 2024-2 | DELL EQUIP FIN TR 2024-2 5.29% 02/24/2031 144A | 5.29% | 185000 | 2/24/2031 | 186589 |
|  | DELL EQUIP FIN TR 2024-2 | DELL EQUIP FIN TR 2024-2 B 4.82% 08/22/2030 144A | 4.82% | 100000 | 8/22/2030 | 100955 |
|  | DELL EQUIP FIN TR 2025-1 | DELL EQUIP FIN TR 2025-1 C 5.25% 02/24/2031 144A | 5.25% | 100000 | 2/24/2031 | 101576 |
|  | DELL EQUIPMENT FINANCE TRUST 24-1 | DELL EQUIPMENT FINANCE TRUST 24-1 D 6.12% 09/23/2030 | 6.12% | 160000 | 9/23/2030 | 162624 |
|  | DELTA AIRLINES INC | DELTA AIR LINES INC 4.95% 07/10/2028 | 4.95% | 545000 | 7/10/2028 | 554801 |
|  | DEXT ABS 2025-2 LLC | DEXT ABS 2025-2 LLC 4.89% 04/15/2036 144A | 4.89% | 120000 | 4/15/2036 | 120017 |
|  | DIAMOND 1 FINANCE CORP / DIAMOND 2 FINAN | DELL INTL/EMC CORP 4.75% 04/01/2028 | 4.75% | 800000 | 4/1/2028 | 811394 |
|  | DIAMONDBACK ENERGY INC | DIAMONDBACK ENERGY INC 5.2% 04/18/2027 | 5.20% | 700000 | 4/18/2027 | 710117 |
|  | DLLAA 2023-1A | DLLAA 2023-1A 5.64% 02/22/2028 144A | 5.64% | 511851 | 2/22/2028 | 517279 |
|  | DLLST 2024-1 LLC | DLLST 2024-1 LLC 4.93% 04/22/2030 144A | 4.93% | 60000 | 4/22/2030 | 60599 |
|  | DLLST 2024-1 LLC | DLLST 2024-1 LLC 5.05% 08/20/2027 144A | 5.05% | 160587 | 8/20/2027 | 161283 |
|  | DOLLAR GEN CORP NEW | DOLLAR GEN CORP NEW 5.2% 07/05/2028 | 5.20% | 542000 | 7/5/2028 | 555539 |
|  | DOLLAR GEN CORP NEW | DOLLAR GEN CORP NEW 4.125% 05/01/2028 | 4.13% | 984000 | 5/1/2028 | 985465 |
|  | DOMINION RESOURCES INC VA NEW | DOMINION ENERGY INC 3.375% 04/01/2030 | 3.38% | 325000 | 4/1/2030 | 313572 |
|  | DOMINION RESOURCES INC VA NEW | DOMINION ENERGY INC 5% 06/15/2030 | 5.00% | 525000 | 6/15/2030 | 539403 |
|  | DOMINION RESOURCES INC VA NEW | DOMINION ENERGY INC 4.6% 05/15/2028 | 4.60% | 300000 | 5/15/2028 | 303501 |
|  | DOMINION RESOURCES INC VA NEW | DOMINION ENERGY INC 4.6% 05/15/2028 | 4.60% | 375000 | 5/15/2028 | 379377 |
|  | DOMINION RESOURCES INC VA NEW | DOMINION ENERGY INC 5% 06/15/2030 | 5.00% | 425000 | 6/15/2030 | 436660 |
|  | DRIVE AUTO RECEIVABLES TR 2025-2 | DRIVE AUTO RECEIVABLES TRUST 2025-2 C 4.39% 09/15/2032 | 4.39% | 300000 | 9/15/2032 | 299875 |
|  | DRIVEN BRANDS FUNDING LLC | DRIVEN BRANDS FUNDING LLC 3.981% 10/20/2049 144A | 3.98% | 779513 | 10/20/2049 | 774391 |
|  | DRYDEN 86 CLO LTD / DRYDEN 86 CLO LLC | DRYDEN 86 CLO LTD / DRYDEN 86 CLO LLC A1R2 TSFR3M+ | 5.01% | 1645000 | 7/17/2034 | 1647013 |
|  | DTE ENERGY CO | DTE ENERGY CO 5.2% 04/01/2030 | 5.20% | 610000 | 4/1/2030 | 629384 |
|  | DTE ENERGY CO | DTE ENERGY CO 4.95% 07/01/2027 | 4.95% | 460000 | 7/1/2027 | 466058 |
|  | DTE ENERGY CO | DTE ENERGY CO 4.875% 06/01/2028 | 4.88% | 650000 | 6/1/2028 | 661258 |
|  | DUKE ENERGY CORP NEW | DUKE ENERGY CORP NEW 4.3% 03/15/2028 | 4.30% | 410000 | 3/15/2028 | 412208 |
|  | EAGLE FUNDING LUXCO SARL | EAGLE FUNDING LUXCO SARL 5.5% 08/17/2030 144A | 5.50% | 1040000 | 8/17/2030 | 1057680 |
|  | EART 2025-5A | EART 2025-5A 4.28% 07/15/2030 | 4.28% | 690000 | 7/15/2030 | 691488 |
|  | ECMC GROUP STUDENT LN TR 2025-2 | ECMC GROUP STUDENT LN TR 2025-2A A SOFR30A+105 11/25/2074 | 5.12% | 896160 | 11/25/2074 | 896158 |
|  | EDISON INTERNATIONAL | EDISON INTERNATIONAL CP 0% 01/20/2026 | —% | 1280000 | 1/20/2026 | 1277039 |
|  | ELANCO ANIMAL HEALTH INC | ELANCO ANIMAL HEALTH INC VAR 08/28/2028 | 6.65% | 885000 | 8/28/2028 | 924857 |
|  | ELANCO ANIMAL HEALTH INC | ELANCO ANIMAL HEALTH INC VAR 08/28/2028 | 6.65% | 550000 | 8/28/2028 | 574770 |
|  | ELARA HGV TIMESHARE ISSUER 2019-A LLC | ELARA HGV TIMESHARE ISSUER 2019-A LLC 2.61% 01/25/2034 | 2.61% | 134989 | 1/25/2034 | 134230 |
|  | ELEMENT FLEET MANAGEMENT CORP | ELEMENT FLEET MANAGEMENT CORP 5.037% 03/25/2030 14 | 5.04% | 550000 | 3/25/2030 | 562108 |
|  | ELEMENT FLEET MANAGEMENT CORP | ELEMENT FLEET MANAGEMENT CORP 5.643% 03/13/2027 14 | 5.64% | 565000 | 3/13/2027 | 574583 |
|  | EMD FIN LLC | EMD FIN LLC 4.125% 08/15/2028 144A | 4.13% | 1555000 | 8/15/2028 | 1558418 |
|  | ENBRIDGE INC | ENBRIDGE INC 4.6% 06/20/2028 | 4.60% | 275000 | 6/20/2028 | 277834 |
|  | ENBRIDGE INC | ENBRIDGE INC 6% 11/15/2028 | 6.00% | 300000 | 11/15/2028 | 315263 |
|  | ENBRIDGE INC | ENBRIDGE INC 5.9% 11/15/2026 | 5.90% | 365000 | 11/15/2026 | 370277 |
|  | ENEL FINANCE INTL NV | ENEL FINANCE INTL NV 6% 10/07/2039 144A | 6.00% | 750000 | 10/7/2039 | 788131 |
|  | ENEL FINANCE INTL NV | ENEL FINANCE INTL NV 4.125% 09/30/2028 144A | 4.13% | 300000 | 9/30/2028 | 299467 |
|  | ENEL FINANCE INTL NV | ENEL FINANCE INTL NV STEP 07/12/2026 144A | 1.62% | 1000000 | 7/12/2026 | 987319 |
|  | ENEL FINANCE INTL NV | ENEL FINANCE INTL NV 6% 10/07/2039 144A | 6.00% | 525000 | 10/7/2039 | 551692 |
|  | ENERGY TRANSFER EQUITY LP | ENERGY TRANSFER LP 5.25% 07/01/2029 | 5.25% | 495000 | 7/1/2029 | 509393 |
|  | ENERGY TRANSFER EQUITY LP | ENERGY TRANSFER LP 6.05% 12/01/2026 | 6.05% | 1365000 | 12/1/2026 | 1386903 |
|  | ENTERPRISE FLEET FINANCING 2024-3 LLC | ENTERPRISE FLEET FINANCING 2024-3 LLC 5.06% 03/20/2031 | 5.06% | 155000 | 3/20/2031 | 158646 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | ENTERPRISE FLEET FINANCING 2024-3 LLC | ENTERPRISE FLEET FINANCING 2024-3 LLC 4.98% 08/21/2028 | 4.98% | 230000 | 8/21/2028 | 233253 |
|  | ENTERPRISE FLEET FING 2022-4 LLC | ENTERPRISE FLEET FING 2022-4 LLC 5.65% 10/22/2029 | 5.65% | 685000 | 10/22/2029 | 691795 |
|  | ENTERPRISE FLEET FING 2023-2 LLC | ENTERPRISE FLEET FING 2023-2 LLC 5.56% 04/22/2030 | 5.56% | 476272 | 4/22/2030 | 478921 |
|  | EOG RESOURCES INC | EOG RESOURCES INC 4.4% 01/15/2031 | 4.40% | 485000 | 1/15/2031 | 486887 |
|  | EQT CORP | EQT CORP 3.125% 05/15/2026 144A | 3.13% | 610000 | 5/15/2026 | 606515 |
|  | EQUITABLE AMERICA GLOBAL FUNDING | EQUITABLE AMERICA GLOBAL FUNDING 4.3% 12/15/2028 1 | 4.30% | 305000 | 12/15/2028 | 306234 |
|  | EQUITABLE AMERICA GLOBAL FUNDING | EQUITABLE AMERICA GLOBAL FUNDING 3.95% 09/15/2027 | 3.95% | 230000 | 9/15/2027 | 229643 |
|  | EQUITABLE AMERICA GLOBAL FUNDING | EQUITABLE AMERICA GLOBAL FUNDING 4.65% 06/09/2028 | 4.65% | 705000 | 6/9/2028 | 712134 |
|  | ERAC USA FIN LLC | ERAC USA FIN LLC 4.6% 05/01/2028 144A | 4.60% | 1195000 | 5/1/2028 | 1210637 |
|  | EXELON CORP | EXELON CORP 5.15% 03/15/2029 | 5.15% | 325000 | 3/15/2029 | 334151 |
|  | EXELON GENERATION CO,LLC | CONSTELLATION ENERGY GENERATION LLC 5.6% 03/01/2028 | 5.60% | 275000 | 3/1/2028 | 283706 |
|  | EXETER AUTOMOBILE RECEIVABLES TR 2025-4 | EXETER AUTOMOBILE RECEIVABLES TR 2025-4A C 4.57% 0 | 4.57% | 720000 | 6/16/2031 | 722098 |
|  | EXETER AUTOMOBILE RECEIVABLES TR 2025-4 | EXETER AUTOMOBILE RECEIVABLES TR 2025-4 4.4% 05/15/2030 | 4.40% | 200000 | 5/15/2030 | 201081 |
|  | EXETER AUTOMOBILE RECEIVABLES TRUST | EXETER AUTOMOBILE RECEIVABLES TRUST 6.69% 06/15/2029 | 6.69% | 75000 | 6/15/2029 | 76125 |
|  | EXETER AUTOMOBILE RECEIVABLES TRUST 2022 | EXETER AUTOMOBILE RECEIVABLES TRUST 2022-4 5.98% 1 | 5.98% | 914033 | 12/15/2028 | 921083 |
|  | EXETER SELECT AUTOMOBILE RECEIVABLES TR | EXETER SELECT AUTOMOBILE RECEIVABLES TR 2025-2 C 4 | 4.91% | 470000 | 12/15/2031 | 474378 |
|  | EXETER SELECT AUTOMOBILE RECEIVABLES TR | EXETER SELECT AUTOMOBILE RECEIVABLES TR 2025-2 B 4 | 4.63% | 195000 | 11/17/2031 | 196495 |
|  | EXETER SELECT AUTOMOBILE RECEIVABLES TR | EXETER SELECT AUTOMOBILE RECEIVABLES TR 2025-1 4.8 | 4.87% | 385000 | 8/15/2031 | 388575 |
|  | EXTRA SPACE STORAGE LP | EXTRA SPACE STORAGE LP 3.875% 12/15/2027 | 3.88% | 875000 | 12/15/2027 | 872273 |
|  | FEDERATION DES CAISE DESJARDIN | FEDERATION DES CAISE DESJARDIN 4.565% 08/26/2030 1 | 4.57% | 605000 | 8/26/2030 | 608945 |
|  | FIBERCOP SPA | FIBERCOP SPA 7.721% 06/04/2038 144A | 7.72% | 522000 | 6/4/2038 | 523045 |
|  | FIBERCOP SPA | FIBERCOP SPA 7.721% 06/04/2038 144A | 7.72% | 320000 | 6/4/2038 | 320641 |
|  | FINANCE OF AMER HECM BUYOUT 2024-HB1 | FINANCE OF AMER HECM BUYOUT 2024-HB1 4% 10/01/2034 | 4.00% | 39295 | 10/1/2034 | 39286 |
|  | FIRSTENERGY CORP | FIRSTENERGY CORP STEP 07/15/2027 | 3.90% | 1007000 | 7/15/2027 | 1002982 |
|  | FIRSTENERGY TRANSMISSION LLC | FIRSTENERGY TRANSMISSION LLC 4.55% 01/15/2030 | 4.55% | 230000 | 1/15/2030 | 231780 |
|  | FISERV INC | FISERV INC 4.55% 02/15/2031 | 4.55% | 440000 | 2/15/2031 | 435472 |
|  | FISERV INC | FISERV INC 5.15% 03/15/2027 | 5.15% | 770000 | 3/15/2027 | 778066 |
|  | FISERV INC | FISERV INC 5.375% 08/21/2028 | 5.38% | 485000 | 8/21/2028 | 497385 |
|  | FISERV INC | FISERV INC 3.5% 07/01/2029 | 3.50% | 330000 | 7/1/2029 | 320018 |
|  | FISERV INC | FISERV INC 4.2% 10/01/2028 | 4.20% | 550000 | 10/1/2028 | 548611 |
|  | FOCUS BRANDS FUNDING LLC | FOCUS BRANDS FUNDING LLC 5.093% 04/30/2047 144A | 5.09% | 1285575 | 4/30/2047 | 1282820 |
|  | FORD CREDIT AUTO LEASE TRUST 2023-B | FORD CREDIT AUTO LEASE TRUST 2023-B C 6.43% 04/15/2027 | 6.43% | 450000 | 4/15/2027 | 452058 |
|  | FORD CREDIT AUTO OWNER TRUST 2023-A | FORD CREDIT AUTO OWNER TRUST 2023-A 5.07% 01/15/2029 | 5.07% | 1505000 | 1/15/2029 | 1520410 |
|  | FORD CREDIT AUTO OWNER TRUST 22-C | FORD CREDIT AUTO OWNER TRUST 22-C 5.22% 03/15/2030 | 5.22% | 905000 | 3/15/2030 | 908752 |
|  | FORD MOTOR CREDIT CO | FORD MOTOR CREDIT CO LLC 7.35% 11/04/2027 | 7.35% | 475000 | 11/4/2027 | 495747 |
|  | FORD MOTOR CREDIT CO | FORD MOTOR CREDIT CO LLC 6.8% 05/12/2028 | 6.80% | 625000 | 5/12/2028 | 652172 |
|  | FORD MOTOR CREDIT CO | FORD MOTOR CREDIT CO LLC 6.798% 11/07/2028 | 6.80% | 300000 | 11/7/2028 | 314736 |
|  | FORD MOTOR CREDIT CO | FORD MOTOR CREDIT CO LLC 5.918% 03/20/2028 | 5.92% | 775000 | 3/20/2028 | 792978 |
|  | FORD MOTOR CREDIT CO | FORD MOTOR CREDIT CO LLC 4.389% 01/08/2026 | 4.39% | 725000 | 1/8/2026 | 725045 |
|  | FORD MOTOR CREDIT CO | FORD MOTOR CREDIT CO LLC 5.918% 03/20/2028 | 5.92% | 445000 | 3/20/2028 | 455323 |
|  | FORD MOTOR CREDIT CO | FORD MOTOR CREDIT CO LLC 5.125% 11/05/2026 | 5.13% | 585000 | 11/5/2026 | 588178 |
|  | FORD MOTOR CREDIT CO | FORD MOTOR CREDIT CO LLC 5.8% 03/05/2027 | 5.80% | 780000 | 3/5/2027 | 789715 |
|  | FORD MOTOR CREDIT CO | FORD MOTOR CREDIT CO LLC 4.542% 08/01/2026 | 4.54% | 300000 | 8/1/2026 | 299592 |
|  | FORD MOTOR CREDIT CO | FORD MOTOR CREDIT CO LLC 4.389% 01/08/2026 | 4.39% | 200000 | 1/8/2026 | 200012 |
|  | FORD MOTOR CREDIT CO | FORD MOTOR CREDIT CO LLC 5.918% 03/20/2028 | 5.92% | 1125000 | 3/20/2028 | 1151097 |
|  | FORD MOTOR CREDIT CO | FORD MOTOR CREDIT CO LLC 6.8% 05/12/2028 | 6.80% | 200000 | 5/12/2028 | 208695 |
|  | FORD MOTOR CREDIT CO | FORD MOTOR CREDIT CO LLC 7.35% 11/04/2027 | 7.35% | 275000 | 11/4/2027 | 287011 |
|  | FORD MOTOR CREDIT CO | FORD MOTOR CREDIT CO LLC 4.95% 05/28/2027 | 4.95% | 200000 | 5/28/2027 | 200726 |
|  | FORD MOTOR CREDIT CO | FORD MOTOR CREDIT CO LLC 2.7% 08/10/2026 | 2.70% | 450000 | 8/10/2026 | 445635 |
|  | FORDO 2024-B | FORDO 2024-B 5.1% 04/15/2029 | 5.10% | 783000 | 4/15/2029 | 793084 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | FORDO 2024-B | FORDO 2024-B 5.1% 04/15/2029 | 5.10% | 547000 | 4/15/2029 | 554045 |
|  | FORTINET INC | FORTINET INC 1% 03/15/2026 | 1.00% | 1055000 | 3/15/2026 | 1047960 |
|  | FORTITUDE GLOBAL FUNDING | FORTITUDE GLOBAL FUNDING 4.625% 10/06/2028 144A | 4.63% | 590000 | 10/6/2028 | 590116 |
|  | FORTITUDE GROUP HOLDINGS LLC | FORTITUDE GROUP HOLDINGS LLC 6.25% 04/01/2030 144A | 6.25% | 840000 | 4/1/2030 | 874932 |
|  | FORTIVE CORP | FORTIVE CORP 3.15% 06/15/2026 | 3.15% | 817000 | 6/15/2026 | 813716 |
|  | FORTRESS CREDIT BSL | FORTRESS CREDIT BSL A1R TSFR3M+157 04/23/2036 144A | 5.43% | 250000 | 4/23/2036 | 250416 |
|  | FORTRESS CREDIT BSL IX LTD | FORTRESS CREDIT BSL IX LTD 2020-1A A1AR TSFR3M+110 | 5.03% | 1465000 | 10/20/2033 | 1465319 |
|  | FORTRESS CREDIT BSL VII LTD | FORTRESS CREDIT BSL VII LTD TSFR3M+165 07/23/2032 | 5.51% | 890000 | 7/23/2032 | 890050 |
|  | FORTRESS CREDIT BSL VII LTD | FORTRESS CREDIT BSL VII LTD TSFR3M+140 07/23/2032 | 5.26% | 700000 | 7/23/2032 | 698653 |
|  | FORTRESS CREDIT BSL VII LTD | FORTRESS CREDIT BSL VII LTD TSFR3M+109 07/23/2032 | 4.95% | 141882 | 7/23/2032 | 141891 |
|  | FORTRESS CREDIT BSL VIII LTD | FORTRESS CREDIT BSL VIII LTD 19-2A A2R TSFR3M+140 | 5.27% | 1765000 | 10/20/2032 | 1761018 |
|  | FORTRESS CREDIT BSL VIII LTD | FORTRESS CREDIT BSL VIII LTD 19-2A A1AR TSFR3M+105 | 4.92% | 527582 | 10/20/2032 | 527192 |
|  | FORTRESS CREDIT BSL XV LTD | FORTRESS CREDIT BSL XV LTD 2022-2A AR TSFR3M+140 1 | 5.28% | 1205000 | 10/18/2033 | 1205090 |
|  | FOUNDRY JV HOLDCO LLC | FOUNDRY JV HOLDCO LLC 5.5% 01/25/2031 144A | 5.50% | 280000 | 1/25/2031 | 289014 |
|  | FOUNDRY JV HOLDCO LLC | FOUNDRY JV HOLDCO LLC 5.9% 01/25/2030 144A | 5.90% | 260000 | 1/25/2030 | 271927 |
|  | FREDDIE MAC STACR REMIC TRUST 2021-DNA1 | FREDDIE MAC STACR REMIC TRUST 2021-DNA1 SOFR30A+18 | 5.72% | 230479 | 11/25/2043 | 232567 |
|  | FREEPORT MCMORAN COPPER & GOLD | FREEPORT-MCMORAN INC 4.125% 03/01/2028 | 4.13% | 226000 | 3/1/2028 | 225305 |
|  | FREEPORT MCMORAN COPPER & GOLD | FREEPORT-MCMORAN INC 5.25% 09/01/2029 | 5.25% | 270000 | 9/1/2029 | 274566 |
|  | FRONTIER ISSUER LLC | FRONTIER ISSUER LLC 6.19% 06/20/2054 144A | 6.19% | 160000 | 6/20/2054 | 165002 |
|  | GA GLOBAL FUNDING TRUST | GA GLOBAL FUNDING TRUST 5.4% 01/13/2030 144A | 5.40% | 810000 | 1/13/2030 | 830059 |
|  | GA GLOBAL FUNDING TRUST | GA GLOBAL FUNDING TRUST 4.4% 09/23/2027 144A | 4.40% | 1220000 | 9/23/2027 | 1224529 |
|  | GARTNER INC | GARTNER INC 4.5% 07/01/2028 144A | 4.50% | 650000 | 7/1/2028 | 647898 |
|  | GATX CORP | GATX CORP 5.4% 03/15/2027 | 5.40% | 405000 | 3/15/2027 | 410770 |
|  | GATX CORP | GATX CORP 3.85% 03/30/2027 | 3.85% | 480000 | 3/30/2027 | 478280 |
|  | GATX CORP | GATX CORP 3.25% 09/15/2026 | 3.25% | 700000 | 9/15/2026 | 696334 |
|  | GE HEALTHCARE HOLDING LLC | GE HEALTHCARE TECHNOLOGIES INC 5.905% 11/22/2032 | 5.91% | 650000 | 11/22/2032 | 700175 |
|  | GE HEALTHCARE HOLDING LLC | GE HEALTHCARE TECHNOLOGIES INC 5.905% 11/22/2032 | 5.91% | 450000 | 11/22/2032 | 484736 |
|  | GENERAL MTRS FINL CO INC | GENERAL MTRS FINL CO INC 5.05% 04/04/2028 | 5.05% | 1160000 | 4/4/2028 | 1181381 |
|  | GENERAL MTRS FINL CO INC | GENERAL MTRS FINL CO INC 5.35% 07/15/2027 | 5.35% | 574000 | 7/15/2027 | 583961 |
|  | GENERAL MTRS FINL CO INC | GENERAL MTRS FINL CO INC 5.4% 05/08/2027 | 5.40% | 614000 | 5/8/2027 | 624055 |
|  | GM FINANCIAL CONSUMER AUTOMOBILE RECEIVA | GM FINANCIAL CONSUMER AUTOMOBILE RECEIVABLES TRUST | 3.93% | 427000 | 4/16/2032 | 426521 |
|  | GM FINL CONSUMER AUTOMOBILE RECEIVABLES | GM FINL CONSUMER AUTOMOBILE RECEIVABLES TR 2023-1 | 5.03% | 145000 | 9/18/2028 | 146183 |
|  | GM FINL CONSUMER AUTOMOBILE RECEIVABLES | GM FINL CONSUMER AUTOMOBILE RECEIVABLES TR 2023-2 | 5.21% | 420000 | 12/18/2028 | 424474 |
|  | GMCAR 2025-3 | GMCAR 2025-3 4.18% 08/16/2030 | 4.18% | 1006000 | 8/16/2030 | 1014260 |
|  | GOLDMAN SACHS GROUP INC | GOLDMAN SACHS GROUP INC (THE) 4.937%/VAR 04/23/202 | 4.94% | 275000 | 4/23/2028 | 278141 |
|  | GOLDMAN SACHS GROUP INC | GOLDMAN SACHS GROUP INC (THE) 5.218%/VAR 04/23/203 | 5.22% | 400000 | 4/23/2031 | 413139 |
|  | GOLDMAN SACHS GROUP INC | GOLDMAN SACHS GROUP INC (THE) 3.615%/VAR 03/15/202 | 3.62% | 1600000 | 3/15/2028 | 1591116 |
|  | GOLDMAN SACHS GROUP INC | GOLDMAN SACHS GROUP INC (THE) 4.482%/VAR 08/23/202 | 4.48% | 395000 | 8/23/2028 | 397771 |
|  | GOLDMAN SACHS GROUP INC | GOLDMAN SACHS GROUP INC (THE) 5.218%/VAR 04/23/203 | 5.22% | 885000 | 4/23/2031 | 914070 |
|  | GOLDMAN SACHS GROUP INC | GOLDMAN SACHS GROUP INC (THE) 4.937%/VAR 04/23/202 | 4.94% | 1575000 | 4/23/2028 | 1592989 |
|  | GOLDMAN SACHS GROUP INC | GOLDMAN SACHS GROUP INC (THE) 3.615%/VAR 03/15/202 | 3.62% | 1075000 | 3/15/2028 | 1069031 |
|  | GOLDMAN SACHS GROUP INC | GOLDMAN SACHS GROUP INC (THE) 5.218%/VAR 04/23/203 | 5.22% | 325000 | 4/23/2031 | 335675 |
|  | GOLDMAN SACHS GROUP INC | GOLDMAN SACHS GROUP INC (THE) 4.937%/VAR 04/23/202 | 4.94% | 350000 | 4/23/2028 | 353998 |
|  | GOLUB CAP PARTNERS STATIC 2024-1 LT | GOLUB CAP PARTNERS STATIC 2024-1A LT BR TSFR3M+150 | 5.83% | 2345000 | 7/20/2035 | 2342683 |
|  | GREATAMERICA LSNG REC FDS LLC | GREATAMERICA LSNG REC FDS LLC 4.39% 12/17/2029 144 | 4.14% | 480000 | 12/17/2029 | 481851 |
|  | HALFMOON PARENT INC | CIGNA GROUP (THE) 4.375% 10/15/2028 | 4.38% | 775000 | 10/15/2028 | 782045 |
|  | HALFMOON PARENT INC | CIGNA GROUP (THE) 7.875% 05/15/2027 | 7.88% | 161000 | 5/15/2027 | 168673 |

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | HALFMOON PARENT INC | CIGNA GROUP (THE) 2.4% 03/15/2030 | 2.40% | 275000 | 3/15/2030 | 255225 |
|  | HALFMOON PARENT INC | CIGNA GROUP (THE) 4.375% 10/15/2028 | 4.38% | 350000 | 10/15/2028 | 353182 |
|  | HARDEES FDG LLC / CARLS JR FDG LLC | HARDEES FDG LLC / CARLS JR FDG LLC 2.865% 06/20/20 | 2.87% | 205325 | 6/20/2051 | 191776 |
|  | HARDEES FDG LLC / CARLS JR FDG LLC | HARDEES FDG LLC / CARLS JR FDG LLC 3.981% 12/20/20 | 3.98% | 1757500 | 12/20/2050 | 1700930 |
|  | HARDEES FDG LLC / CARLS JR FDG LLC | HARDEES FDG LLC / CARLS JR FDG LLC 5.71% 06/20/204 | 5.71% | 519180 | 6/20/2048 | 516419 |
|  | HARLEY DAVID 3ML+50 05/20 144A | HARLEY DAVIDSON FINL SVCS INC CP 0% 01/06/2026 | —% | 1645000 | 1/6/2026 | 1643927 |
|  | HAROT 2025-4 | HAROT 2025-4 A3 3.83% 06/17/2030 | 3.98% | 3210000 | 6/17/2030 | 3224632 |
|  | HCA INC | HCA INC 5.625% 09/01/2028 | 5.63% | 1135000 | 9/1/2028 | 1169930 |
|  | HCA INC | HCA INC 4.125% 06/15/2029 | 4.13% | 350000 | 6/15/2029 | 348813 |
|  | HCA INC | HCA INC 3.375% 03/15/2029 | 3.38% | 500000 | 3/15/2029 | 487115 |
|  | HCA INC | HCA INC 4.3% 11/15/2030 | 4.30% | 310000 | 11/15/2030 | 308828 |
|  | HCA INC | HCA INC 3.125% 03/15/2027 | 3.13% | 1010000 | 3/15/2027 | 999423 |
|  | HCA INC | HCA INC 5.25% 03/01/2030 | 5.25% | 225000 | 3/1/2030 | 232274 |
|  | HCA INC | HCA INC 3.375% 03/15/2029 | 3.38% | 325000 | 3/15/2029 | 316625 |
|  | HCA INC | HCA INC CP 0% 01/05/2026 | —% | 1485000 | 1/5/2026 | 1484181 |
|  | HEALTH CARE SVCS CORP | HEALTH CARE SVCS CORP 5.2% 06/15/2029 144A | 5.20% | 450000 | 6/15/2029 | 461252 |
|  | HEINEKEN NV | HEINEKEN NV 3.5% 01/29/2028 144A | 3.50% | 3025000 | 1/29/2028 | 2998730 |
|  | HF SINCLAIR CORP | HF SINCLAIR CORP 5.75% 01/15/2031 | 5.75% | 555000 | 1/15/2031 | 573523 |
|  | HILTON GRAND VACATIONS TRUST 2023-1A | HILTON GRAND VACATIONS TRUST 2023-1A C 6.94% 01/25/2038 | 6.94% | 88148 | 1/25/2038 | 91141 |
|  | HILTON GRAND VACATIONS TRUST 2023-1A | HILTON GRAND VACATIONS TRUST 2023-1A 6.11% 01/25/2038 | 6.11% | 470709 | 1/25/2038 | 483029 |
|  | HILTON GRAND VACATIONS TRUST 2025-1 | HILTON GRAND VACATIONS TRUST 2025-1A B 5.18% 05/27/2042 | 5.18% | 465862 | 5/27/2042 | 472221 |
|  | HILTON GRAND VACATIONS TRUST 2025-1 | HILTON GRAND VACATIONS TRUST 2025-1A A 4.88% 05/27/2042 | 4.88% | 271117 | 5/27/2042 | 275139 |
|  | HOME PARTNERS AMER 2022-1 TR | HOME PARTNERS AMER 2022-1 TR 3.93% 04/17/2039 144A | 3.93% | 171414 | 4/17/2039 | 170598 |
|  | HONDA AUTO RECEIVABLES 2024-4 OWNER TR | HONDA AUTO RECEIVABLES 2024-4 OWNER TR 4.33% 05/15/2029 | 4.33% | 816000 | 5/15/2029 | 820534 |
|  | HONDA AUTO RECEIVABLES 2024-4 OWNER TR | HONDA AUTO RECEIVABLES 2024-4 OWNER TR 4.33% 05/15/2029 | 4.33% | 575000 | 5/15/2029 | 578195 |
|  | HONDA AUTO RECEIVABLES OWNER TRUS | HONDA AUTO RECEIVABLES OWNER TRUS 4.57% 09/21/2029 | 4.57% | 908000 | 9/21/2029 | 918124 |
|  | HONDA AUTO RECEIVABLES OWNER TRUS | HONDA AUTO RECEIVABLES OWNER TRUS 4.64% 05/21/2031 | 4.64% | 848000 | 5/21/2031 | 862751 |
|  | HONDA AUTO RECEIVABLES OWNER TRUS | HONDA AUTO RECEIVABLES OWNER TRUS 4.64% 05/21/2031 | 4.64% | 672000 | 5/21/2031 | 683689 |
|  | HONDA AUTO RECEIVABLES OWNER TRUS | HONDA AUTO RECEIVABLES OWNER TRUS 4.57% 09/21/2029 | 4.57% | 720000 | 9/21/2029 | 728028 |
|  | HPEFS EQIPMENT TR 2024-1 | HPEFS EQIPMENT TR 2024-1 5.33% 05/20/2031 144A | 5.33% | 1115000 | 5/20/2031 | 1121297 |
|  | HPEFS EQUIP TR 2024-2 | HPEFS EQUIP TR 2024-2A D 5.82% 04/20/2032 144A | 5.82% | 320000 | 4/20/2032 | 326853 |
|  | HPEFS EQUIP TR 2024-2 | HPEFS EQUIP TR 2024-2A B 5.35% 10/20/2031 144A | 5.35% | 130000 | 10/20/2031 | 131425 |
|  | HPEFS EQUIPTMENT TRUST | HPEFS EQUIPTMENT TRUST 23-1A C 5.91% 04/20/2028 14 | 5.91% | 150514 | 4/20/2028 | 150646 |
|  | HPHT FINANCE 21 II LTD | HPHT FINANCE 21 II LTD 1.5% 09/17/2026 REGS | 1.50% | 1100000 | 9/17/2026 | 1079901 |
|  | HSBC HOLDINGS PLC | HSBC HOLDINGS PLC 4.899%/VAR 03/03/2029 | 4.90% | 740000 | 3/3/2029 | 750801 |
|  | HSBC HOLDINGS PLC | HSBC HOLDINGS PLC 5.13%/VAR 11/19/2028 | 5.13% | 875000 | 11/19/2028 | 891201 |
|  | HSBC HOLDINGS PLC | HSBC HOLDINGS PLC 5.597%/VAR 05/17/2028 | 5.60% | 625000 | 5/17/2028 | 636680 |
|  | HSBC HOLDINGS PLC | HSBC HOLDINGS PLC 6.5% 09/15/2037 | 6.50% | 1740000 | 9/15/2037 | 1908735 |
|  | HSBC HOLDINGS PLC | HSBC HOLDINGS PLC 2.848%/VAR 06/04/2031 | 2.85% | 395000 | 6/4/2031 | 369218 |
|  | HSBC HOLDINGS PLC | HSBC HOLDINGS PLC 8.113%/VAR 11/03/2033 | 8.11% | 775000 | 11/3/2033 | 908266 |
|  | HSBC HOLDINGS PLC | HSBC HOLDINGS PLC 6.254%/VAR 03/09/2034 | 6.25% | 575000 | 3/9/2034 | 625330 |
|  | HSBC HOLDINGS PLC | HSBC HOLDINGS PLC 5.24%/VAR 05/13/2031 | 5.24% | 250000 | 5/13/2031 | 257569 |
|  | HSBC HOLDINGS PLC | HSBC HOLDINGS PLC 8.113%/VAR 11/03/2033 | 8.11% | 325000 | 11/3/2033 | 380886 |
|  | HSBC HOLDINGS PLC | HSBC HOLDINGS PLC 4.762%/VAR 03/29/2033 | 4.76% | 750000 | 3/29/2033 | 745648 |
|  | HSBC HOLDINGS PLC | HSBC HOLDINGS PLC 2.357%/VAR 08/18/2031 | 2.36% | 625000 | 8/18/2031 | 568464 |
|  | HSBC HOLDINGS PLC | HSBC HOLDINGS PLC 6.5% 09/15/2037 | 6.50% | 200000 | 9/15/2037 | 219395 |
|  | HSBC HOLDINGS PLC | HSBC HOLDINGS PLC 6.5% 05/02/2036 | 6.50% | 850000 | 5/2/2036 | 945966 |
|  | HUMANA INC | HUMANA INC 5.75% 12/01/2028 | 5.75% | 731000 | 12/1/2028 | 760151 |
|  | HUMANA INC | HUMANA INC 5.75% 03/01/2028 | 5.75% | 300000 | 3/1/2028 | 309309 |
|  | HUNTINGTON BANK AUTO CREDIT-LINKED NOTES | HUNTINGTON BANK AUTO CREDIT-LINKED NOTES SERIES 20 | 5.44% | 947739 | 10/20/2032 | 957956 |
|  | HUNTINGTON BANK AUTO CREDIT-LINKED NOTES | HUNTINGTON BANK AUTO CREDIT-LINKED NOTES SERIES 20 | 6.15% | 452872 | 5/20/2032 | 460461 |
|  | HUNTINGTON INGALLS INDUSTRIES INC | HUNTINGTON INGALLS INDUSTRIES INC 5.353% 01/15/2030 | 5.35% | 240000 | 1/15/2030 | 248044 |

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------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | HUNTINGTON NATL BK COLUMBUS OH | HUNTINGTON NATL BK COLUMBUS OH 4.957% 03/21/2033 1 | 4.96% | 693861 | 3/21/2033 | 699805 |
|  | HYUNDAI AUTO LEASE SECURITIZATION TRUST | HYUNDAI AUTO LEASE SECURITIZATION TRUST 2025-B 4.9 | 4.94% | 645000 | 8/15/2029 | 653776 |
|  | HYUNDAI AUTO LEASE SECURITIZATION TRUST | HYUNDAI AUTO LEASE SECURITIZATION TRUST 2025-B 4.5 | 4.53% | 310000 | 4/17/2028 | 312813 |
|  | HYUNDAI AUTO RECEIVABLES TR 2025-A | HYUNDAI AUTO RECEIVABLES TR 2025-A 4.4% 04/15/2031 | 4.40% | 845000 | 4/15/2031 | 855617 |
|  | HYUNDAI AUTO RECEIVABLES TR 2025-A | HYUNDAI AUTO RECEIVABLES TR 2025-A 4.32% 10/15/2029 | 4.32% | 604000 | 10/15/2029 | 608514 |
|  | HYUNDAI AUTO RECEIVABLES TRUST 2024-C | HYUNDAI AUTO RECEIVABLES TRUST 2024-C A3 4.41% 05/15/2029 | 4.41% | 812000 | 5/15/2029 | 818432 |
|  | HYUNDAI AUTO RECEIVABLES TRUST 2024-C | HYUNDAI AUTO RECEIVABLES TRUST 2024-C A3 4.41% 05/15/2029 | 4.41% | 588000 | 5/15/2029 | 592657 |
|  | HYUNDAI AUTO RECEIVABLES TRUST 2025-D | HYUNDAI AUTO RECEIVABLES TRUST 2025-D 4.09% 09/16/2030 | 3.99% | 615000 | 9/16/2030 | 617495 |
|  | HYUNDAI CAP AMER | HYUNDAI CAP AMER 4.875% 06/23/2027 144A | 4.88% | 615000 | 6/23/2027 | 621613 |
|  | HYUNDAI CAP AMER | HYUNDAI CAP AMER 4.85% 03/25/2027 144A | 4.85% | 595000 | 3/25/2027 | 600244 |
|  | HYUNDAI CAP AMER | HYUNDAI CAP AMER 5% 01/07/2028 144A | 5.00% | 710000 | 1/7/2028 | 720821 |
|  | HYUNDAI CAP AMER | HYUNDAI CAP AMER 5.25% 01/08/2027 144A | 5.25% | 330000 | 1/8/2027 | 333758 |
|  | HYUNDAI CAP AMER | HYUNDAI CAP AMER 5.6% 03/30/2028 144A | 5.60% | 580000 | 3/30/2028 | 596500 |
|  | HYUNDAI CAP AMER | HYUNDAI CAP AMER 5.5% 03/30/2026 144A | 5.50% | 445000 | 3/30/2026 | 446436 |
|  | IBM CORPORATION | IBM CORPORATION 4.65% 02/10/2028 | 4.65% | 2018000 | 2/10/2028 | 2047612 |
|  | ICON INVESTMENTS SIX DESIGNATED ACTIVITY | ICON INVESTMENTS SIX DESIGNATED ACTIVITY CO 5.809% | 5.81% | 1340000 | 5/8/2027 | 1367264 |
|  | IMPERIAL TOBACCO FINANCE | IMPERIAL BRANDS FINANCE PLC 4.5% 06/30/2028 144A | 4.50% | 645000 | 6/30/2028 | 650194 |
|  | IMPERIAL TOBACCO FINANCE | IMPERIAL BRANDS FINANCE PLC 6.125% 07/27/2027 144A | 6.13% | 845000 | 7/27/2027 | 869772 |
|  | IMPERIAL TOBACCO FINANCE | IMPERIAL BRANDS FINANCE PLC 3.875% 07/26/2029 144A | 3.88% | 4300000 | 7/26/2029 | 4215341 |
|  | IMPERIAL TOBACCO FINANCE | IMPERIAL BRANDS FINANCE PLC 6.125% 07/27/2027 144A | 6.13% | 375000 | 7/27/2027 | 385994 |
|  | IMPERIAL TOBACCO FINANCE | IMPERIAL BRANDS FINANCE PLC 5.875% 07/01/2034 144A | 5.88% | 200000 | 7/1/2034 | 209124 |
|  | IMPERIAL TOBACCO FINANCE | IMPERIAL BRANDS FINANCE PLC 5.5% 02/01/2030 144A | 5.50% | 225000 | 2/1/2030 | 233078 |
|  | IMPERIAL TOBACCO FINANCE | IMPERIAL BRANDS FINANCE PLC 6.125% 07/27/2027 144A | 6.13% | 500000 | 7/27/2027 | 514658 |
|  | IMPERIAL TOBACCO FINANCE | IMPERIAL BRANDS FINANCE PLC 3.875% 07/26/2029 144A | 3.88% | 775000 | 7/26/2029 | 759742 |
|  | IMS HEALTH INC | IQVIA INC 6.25% 02/01/2029 | 6.25% | 410000 | 2/1/2029 | 432189 |
|  | ING GROEP NV | ING GROEP NV 4.858%/VAR 03/25/2029 | 4.86% | 845000 | 3/25/2029 | 857642 |
|  | INTEL CORP | INTEL CORP 4.875% 02/10/2028 | 4.88% | 170000 | 2/10/2028 | 172388 |
|  | INTEL CORP | INTEL CORP 4% 08/05/2029 | 4.00% | 545000 | 8/5/2029 | 539289 |
|  | INTEL CORP | INTEL CORP 3.75% 08/05/2027 | 3.75% | 490000 | 8/5/2027 | 487173 |
|  | INTEL CORP | INTEL CORP 3.15% 05/11/2027 | 3.15% | 277000 | 5/11/2027 | 273606 |
|  | INTERCONTINENTAL EXCHANGE INC | INTERCONTINENTAL EXCHANGE INC 3.625% 09/01/2028 | 3.63% | 605000 | 9/1/2028 | 599764 |
|  | INTERCONTINENTAL EXCHANGE INC | INTERCONTINENTAL EXCHANGE INC 4.2% 03/15/2031 | 4.20% | 885000 | 3/15/2031 | 884550 |
|  | INTERNATIONAL FLAVS & FRAG INC | INTERNATIONAL FLAVS & FRAG INC CP 0% 01/15/2026 | —% | 1020000 | 1/15/2026 | 1018368 |
|  | INVESCO U S CLO 2021-3 LTD / INVESCO U S | INVESCO CLO 2021-3A A1R TSFR3M+108 10/22/2034 144 | 4.94% | 640000 | 10/22/2034 | 639836 |
|  | JABIL CIRCUIT INC | JABIL INC CP 0% 01/09/2026 | —% | 1610000 | 1/9/2026 | 1608234 |
|  | JACK IN THE BOX FUNDING LLC | JACK IN THE BOX FUNDING LLC 3.445% 02/26/2052 144A | 3.45% | 1625225 | 2/26/2052 | 1573258 |
|  | JACKSON NATL LIFE GLOBAL FDG | JACKSON NATL LIFE GLOBAL FDG 4.9% 01/13/2027 144A | 4.90% | 655000 | 1/13/2027 | 660277 |
|  | JACKSON NATL LIFE GLOBAL FDG | JACKSON NATL LIFE GLOBAL FDG 5.55% 07/02/2027 144A | 5.55% | 555000 | 7/2/2027 | 566443 |
|  | JACKSON NATL LIFE GLOBAL FDG | JACKSON NATL LIFE GLOBAL FDG 5.6% 04/10/2026 144A | 5.60% | 970000 | 4/10/2026 | 973864 |
|  | JAPAN TOBACCO INC | JAPAN TOBACCO INC 4.85% 05/15/2028 144A | 4.85% | 1305000 | 5/15/2028 | 1328242 |
|  | JAPAN TOBACCO INC | JAPAN TOBACCO INC 4.85% 05/15/2028 144A | 4.85% | 175000 | 5/15/2028 | 178117 |
|  | JAPAN TOBACCO INC | JAPAN TOBACCO INC 5.21% 06/15/2030 144A | 5.21% | 250000 | 6/15/2030 | 259386 |
|  | JAPAN TOBACCO INC | JAPAN TOBACCO INC 5.856% 06/15/2035 144A | 5.86% | 150000 | 6/15/2035 | 159926 |
|  | JAPAN TOBACCO INC | JAPAN TOBACCO INC 5.21% 06/15/2030 144A | 5.21% | 425000 | 6/15/2030 | 440956 |
|  | JP MORGAN CHASE & CO | JPMORGAN CHASE & CO 8.75% 09/01/2030 | 8.75% | 600000 | 9/1/2030 | 706429 |
|  | JP MORGAN CHASE & CO | JPMORGAN CHASE & CO 4.979%/VAR 07/22/2028 | 4.98% | 615000 | 7/22/2028 | 624161 |
|  | JP MORGAN CHASE & CO | JPMORGAN CHASE & CO 5.04%/VAR 01/23/2028 | 5.04% | 605000 | 1/23/2028 | 611261 |
|  | JP MORGAN CHASE & CO | JPMORGAN CHASE & CO FRN SOFR+88.5 04/22/2027 | 4.80% | 105000 | 4/22/2027 | 105190 |
|  | JP MORGAN CHASE & CO | JPMORGAN CHASE & CO 4.493%/VAR 03/24/2031 | 4.49% | 1275000 | 3/24/2031 | 1286082 |
|  | JP MORGAN CHASE & CO | JPMORGAN CHASE & CO 2.522%/VAR 04/22/2031 | 2.52% | 550000 | 4/22/2031 | 512340 |

---

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | JP MORGAN CHASE & CO | JPMORGAN CHASE & CO 2.956%/VAR 05/13/2031 | 2.96% | 2125000 | 5/13/2031 | 2004649 |
|  | JP MORGAN CHASE & CO | JPMORGAN CHASE & CO 2.956%/VAR 05/13/2031 | 2.96% | 1425000 | 5/13/2031 | 1344294 |
|  | JP MORGAN CHASE & CO | JPMORGAN CHASE & CO 4.493%/VAR 03/24/2031 | 4.49% | 775000 | 3/24/2031 | 781736 |
|  | JP MORGAN CHASE & CO | JPMORGAN CHASE & CO 4.125% 12/15/2026 | 4.13% | 150000 | 12/15/2026 | 150270 |
|  | JP MORGAN CHASE & CO | JPMORGAN CHASE & CO 8.75% 09/01/2030 | 8.75% | 525000 | 9/1/2030 | 618125 |
|  | JP MORGAN MORTGAGE TRUST 2025-HE3 | JP MORGAN MORTGAGE TRUST 2025-HE3 A1 SOFR30A +135 | 5.27% | 364541 | 3/20/2056 | 364652 |
|  | KEURIG DR PEPPER INC | KEURIG DR PEPPER INC 5.05% 03/15/2029 | 5.05% | 980000 | 3/15/2029 | 1000516 |
|  | KEURIG DR PEPPER INC | KEURIG DR PEPPER INC 3.95% 04/15/2029 | 3.95% | 163000 | 4/15/2029 | 161144 |
|  | KINDER MORGAN ENERGY PRTNRS LP | KINDER MORGAN ENERGY PTNRS LP 5% 08/15/2042 | 5.00% | 725000 | 8/15/2042 | 664340 |
|  | KINDER MORGAN ENERGY PRTNRS LP | KINDER MORGAN ENERGY PTNRS LP 6.5% 09/01/2039 | 6.50% | 475000 | 9/1/2039 | 512258 |
|  | KINDER MORGAN ENERGY PRTNRS LP | KINDER MORGAN ENERGY PTNRS LP 6.95% 01/15/2038 | 6.95% | 275000 | 1/15/2038 | 308894 |
|  | KINDER MORGAN INC DEL | KINDER MORGAN INC DEL 5.15% 06/01/2030 | 5.15% | 695000 | 6/1/2030 | 718628 |
|  | KINDER MORGAN INC DEL | KINDER MORGAN INC DEL 5.05% 02/15/2046 | 5.05% | 1000000 | 2/15/2046 | 899083 |
|  | KKR CLO 18 LTD / KKR CLO 18 LLC | KKR CLO 18 LTD / KKR CLO 18 LLC 18 A1R2 TSFR3M+105 | 5.19% | 2365000 | 10/18/2035 | 2366819 |
|  | KKR CLO 34 LTD | KKR CLO 34A BR LTD BR TSFR3M+ 07/15/2034 144A | 5.65% | 1480000 | 7/15/2034 | 1481530 |
|  | KKR CLO 34 LTD | KKR CLO 34 LTD AR TSFR3M+110 07/15/2034 144A | 5.00% | 830000 | 7/15/2034 | 829192 |
|  | KKR CLO 40 LTD | KKR CLO 40 LTD TSFR3M+ 10/20/2034 144A | 5.18% | 1625000 | 10/20/2034 | 1625250 |
|  | KKR CLO TRUST | KKR CLO TRUST BR TSFR3M+160 07/20/2034 144A | 5.51% | 945000 | 7/20/2034 | 947008 |
|  | KKR CLO TRUST | KKR CLO TRUST 33A AR TSFR3M+108 07/20/2034 144A | 4.99% | 1480000 | 7/20/2034 | 1480565 |
|  | KOREA ELEC POWER CORP | KOREA ELEC POWER CORP 5.375% 07/31/2026 144A | 5.38% | 1600000 | 7/31/2026 | 1612057 |
|  | KOREA HSG FIN CORP | KOREA HSG FIN CORP 4.625% 02/24/2028 144A | 4.63% | 1930000 | 2/24/2028 | 1960055 |
|  | KOREA HYDRO & NUCLE PWR CO LTD | KOREA HYDRO & NUCLE PWR CO LTD 5% 07/18/2028 144A | 5.00% | 1150000 | 7/18/2028 | 1178713 |
|  | KSA SUKUK LTD | KSA SUKUK LTD 4.303% 01/19/2029 REGS | 4.30% | 900000 | 1/19/2029 | 902817 |
|  | KT CORP | KT CORP 4.125% 02/02/2028 144A | 4.13% | 1000000 | 2/2/2028 | 1001302 |
|  | LAFARGEHOLCIM FIN US LLC | AMRIZE FINANCE US LLC 4.95% 04/07/2030 | 4.95% | 300000 | 4/7/2030 | 306745 |
|  | LAFARGEHOLCIM FIN US LLC | AMRIZE FINANCE US LLC 4.7% 04/07/2028 | 4.70% | 820000 | 4/7/2028 | 829475 |
|  | LLOYDS TSB GROUP PLC | LLOYDS BANKING GROUP PLC 5.462%/VAR 01/05/2028 | 5.46% | 740000 | 1/5/2028 | 749945 |
|  | LLOYDS TSB GROUP PLC | LLOYDS BANKING GROUP PLC 7.953%/VAR 11/15/2033 | 7.95% | 800000 | 11/15/2033 | 930653 |
|  | LLOYDS TSB GROUP PLC | LLOYDS BANKING GROUP PLC 4.65% 03/24/2026 | 4.65% | 1075000 | 3/24/2026 | 1076314 |
|  | LLOYDS TSB GROUP PLC | LLOYDS BANKING GROUP PLC 4.65% 03/24/2026 | 4.65% | 450000 | 3/24/2026 | 450550 |
|  | LLOYDS TSB GROUP PLC | LLOYDS BANKING GROUP PLC 4.818%/VAR 06/13/2029 | 4.82% | 525000 | 6/13/2029 | 533551 |
|  | LLOYDS TSB GROUP PLC | LLOYDS BANKING GROUP PLC 7.953%/VAR 11/15/2033 | 7.95% | 500000 | 11/15/2033 | 581658 |
|  | LOWE'S COS INC | LOWES COS INC 4% 10/15/2028 | 4.00% | 370000 | 10/15/2028 | 370667 |
|  | LPL HOLDINGS INC | LPL HOLDINGS INC 4.9% 04/03/2028 | 4.90% | 370000 | 4/3/2028 | 375404 |
|  | LPL HOLDINGS INC | LPL HOLDINGS INC 5.7% 05/20/2027 | 5.70% | 1014000 | 5/20/2027 | 1033429 |
|  | LPL HOLDINGS INC | LPL HOLDINGS INC 6.75% 11/17/2028 | 6.75% | 300000 | 11/17/2028 | 320185 |
|  | LPL HOLDINGS INC | LPL HOLDINGS INC 4.625% 11/15/2027 144A | 4.63% | 175000 | 11/15/2027 | 174994 |
|  | MA'ADEN SUKUK LTD | MA'ADEN SUKUK LTD 5.25% 02/13/2030 REGS | 5.25% | 400000 | 2/13/2030 | 409452 |
|  | MA'ADEN SUKUK LTD | MA'ADEN SUKUK LTD 5.25% 02/13/2030 144A | 5.25% | 1050000 | 2/13/2030 | 1074812 |
|  | MADISON PARK FUNDING XXIV LTD | MADISON PARK FUNDING XXIV LTD TSFR3M+205 10/20/202 | 5.93% | 675000 | 10/20/2029 | 675300 |
|  | MADISON PARK FUNDING XXXIII LTD | MADISON PARK FUNDING XXXIII LTD CME+129 10/15/2032 | 5.19% | 894208 | 10/15/2032 | 894790 |
|  | MADISON PK FDG XLV LTD / MADISON PK FDG | MADISON PK FDG XLV LTD / MADISON PK FDG XLV LLC TS | 4.98% | 450000 | 7/15/2034 | 450185 |
|  | MANUFACTURERS & TRADERS TR CO | MANUFACTURERS & TRADERS TR CO 4.762%/VAR 07/06/202 | 4.76% | 420000 | 7/6/2028 | 423813 |
|  | MARBLE POINT CLO XV LTD | MARBLE POINT CLO XV 1A A1R2 LTD TSFR3M+104 07/23/2032 | 4.90% | 869780 | 7/23/2032 | 869913 |
|  | MARS INC | MARS INC 4.6% 03/01/2028 144A | 4.60% | 825000 | 3/1/2028 | 836303 |
|  | MARS INC | MARS INC 4.55% 04/20/2028 144A | 4.55% | 1265000 | 4/20/2028 | 1280713 |
|  | MARS INC | MARS INC 4.45% 03/01/2027 144A | 4.45% | 125000 | 3/1/2027 | 125902 |
|  | MARS INC | MARS INC 4.6% 03/01/2028 144A | 4.60% | 200000 | 3/1/2028 | 202740 |
|  | MARS INC | MARS INC 4.8% 03/01/2030 144A | 4.80% | 750000 | 3/1/2030 | 766472 |
|  | MARS INC | MARS INC 4.8% 03/01/2030 144A | 4.80% | 575000 | 3/1/2030 | 587629 |
|  | MARS INC | MARS INC 4.6% 03/01/2028 144A | 4.60% | 150000 | 3/1/2028 | 152055 |
|  | MARS INC | MARS INC 4.45% 03/01/2027 144A | 4.45% | 100000 | 3/1/2027 | 100722 |
|  | MARSH & MCLENNAN COS INC | MARSH & MCLENNAN COS INC 4.55% 11/08/2027 | 4.55% | 1105000 | 11/8/2027 | 1118023 |
|  | MARVELL TECHNOLOGY INC | MARVELL TECHNOLOGY INC 4.75% 07/15/2030 | 4.75% | 245000 | 7/15/2030 | 248201 |

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | MARVELL TECHNOLOGY INC | MARVELL TECHNOLOGY INC 4.875% 06/22/2028 | 4.88% | 1195000 | 6/22/2028 | 1215117 |
|  | MARVELL TECHNOLOGY INC | MARVELL TECHNOLOGY INC 1.65% 04/15/2026 | 1.65% | 380000 | 4/15/2026 | 377427 |
|  | MEGLOBAL BV | MEGLOBAL BV 2.625% 04/28/2028 REGS | 2.63% | 1270000 | 4/28/2028 | 1219200 |
|  | META PLATFORMS INC | META PLATFORMS INC 4.6% 11/15/2032 | 4.60% | 200000 | 11/15/2032 | 201608 |
|  | META PLATFORMS INC | META PLATFORMS INC 4.875% 11/15/2035 | 4.88% | 225000 | 11/15/2035 | 224699 |
|  | META PLATFORMS INC | META PLATFORMS INC 4.2% 11/15/2030 | 4.20% | 1185000 | 11/15/2030 | 1187504 |
|  | META PLATFORMS INC | META PLATFORMS INC 4.875% 11/15/2035 | 4.88% | 175000 | 11/15/2035 | 174766 |
|  | META PLATFORMS INC | META PLATFORMS INC 4.6% 11/15/2032 | 4.60% | 150000 | 11/15/2032 | 151206 |
|  | MMAF 2021-A | MMAF 2021-A 1.19% 11/13/2043 144A | 1.19% | 195000 | 11/13/2043 | 193804 |
|  | MORGAN STAN DEAN WITTER & CO | MORGAN STANLEY 4.994%/VAR 04/12/2029 | 4.99% | 855000 | 4/12/2029 | 871935 |
|  | MPLX LP | MPLX LP 4.8% 02/15/2031 | 4.80% | 1970000 | 2/15/2031 | 1990686 |
|  | MVW 2021-2 LLC | MVW 2021-2 LLC 2.23% 05/20/2039 144A | 2.23% | 48965 | 5/20/2039 | 46698 |
|  | MVW 2021-2 LLC | MVW 2021-2 LLC 1.43% 05/20/2039 144A | 1.43% | 313606 | 5/20/2039 | 298227 |
|  | MVW 2023-1 LLC | MVW 2023-1 LLC 4.93% 10/20/2040 144A | 4.93% | 532697 | 10/20/2040 | 538900 |
|  | MVWOT 2023-2A | MVWOT 2023-2A B 6.33% 11/20/2040 144A | 6.33% | 81779 | 11/20/2040 | 83742 |
|  | MVWOT 2023-2A | MVWOT 2023-2A A 6.18% 11/20/2040 144A | 6.18% | 129444 | 11/20/2040 | 133065 |
|  | NASDAQ STK MKT INC (ACCR INV) | NASDAQ INC 5.35% 06/28/2028 | 5.35% | 217000 | 6/28/2028 | 223926 |
|  | NAVIENT STUDENT LN TR 2016-6 | NAVIENT STUDENT LN TR 2016-6 SOFR30A+141.448 03/25 | 5.29% | 705450 | 3/25/2066 | 716802 |
|  | NAVIENT STUDENT LOAN TRUST 2016-5 | NAVIENT STUDENT LOAN TRUST 2016-5A A SOFR30A+136.4 | 5.24% | 2562805 | 6/25/2065 | 2608185 |
|  | NAVIENT STUDENT LOAN TRUST 2016-5 | NAVIENT STUDENT LOAN TRUST 2016-5A A SOFR30A+136.4 | 5.24% | 3695014 | 6/25/2065 | 3760443 |
|  | NAVISTAR FINL DEALER NT MASTER OWNER TR | NAVISTAR FINL DEALER NT MASTER OWNER TR II 4.72% 0 | 4.72% | 58000 | 9/25/2030 | 58083 |
|  | NAVISTAR FINL DEALER NT MASTER OWNER TR | NAVISTAR FINL DEALER NT MASTER OWNER TR II 4.42% 0 | 4.42% | 120000 | 9/25/2030 | 120162 |
|  | NAVISTAR FINL DEALER NT MASTER OWNER TR | NAVISTAR FINL DEALER NT MASTER OWNER TR II 24-1 C | 6.13% | 120000 | 4/25/2029 | 120529 |
|  | NAVISTAR FINL DEALER NT MASTER OWNER TR | NAVISTAR FINL DEALER NT MASTER OWNER TR II 24-1 B | 5.79% | 75000 | 4/25/2029 | 75319 |
|  | NEUBERGER BERMAN LN ADVISERS CLO 43 LTD | NEUBERGER BERMAN LN ADVISERS CLO 43 LTD / NEUBERGE | 4.93% | 2090000 | 7/17/2036 | 2091398 |
|  | NEXTERA ENERGY CAP HLDGS INC | NEXTERA ENERGY CAP HLDGS INC 4.6% 09/01/2027 | 4.60% | 200000 | 9/1/2027 | 202377 |
|  | NEXTERA ENERGY CAP HLDGS INC | NEXTERA ENERGY CAP HLDGS INC 1.875% 01/15/2027 | 1.88% | 1085000 | 1/15/2027 | 1062049 |
|  | NEXTERA ENERGY CAP HLDGS INC | NEXTERA ENERGY CAP HLDGS INC 4.625% 07/15/2027 | 4.63% | 700000 | 7/15/2027 | 707507 |
|  | NEXTERA ENERGY CAP HLDGS INC | NEXTERA ENERGY CAP HLDGS INC 4.685% 09/01/2027 | 4.69% | 650000 | 9/1/2027 | 657724 |
|  | NEXTERA ENERGY CAP HLDGS INC | NEXTERA ENERGY CAP HLDGS INC 4.9% 03/15/2029 | 4.90% | 900000 | 3/15/2029 | 922362 |
|  | NEXTERA ENERGY CAP HLDGS INC | NEXTERA ENERGY CAP HLDGS INC 5.05% 03/15/2030 | 5.05% | 700000 | 3/15/2030 | 722146 |
|  | NEXTERA ENERGY CAP HLDGS INC | NEXTERA ENERGY CAP HLDGS INC 4.6% 09/01/2027 | 4.60% | 300000 | 9/1/2027 | 303565 |
|  | NEXTERA ENERGY CAP HLDGS INC | NEXTERA ENERGY CAP HLDGS INC 5.05% 03/15/2030 | 5.05% | 450000 | 3/15/2030 | 464236 |
|  | NEXTERA ENERGY CAP HLDGS INC | NEXTERA ENERGY CAP HLDGS INC 4.9% 03/15/2029 | 4.90% | 675000 | 3/15/2029 | 691771 |
|  | NEXTERA ENERGY CAP HLDGS INC | NEXTERA ENERGY CAP HLDGS INC 4.685% 09/01/2027 | 4.69% | 425000 | 9/1/2027 | 430050 |
|  | NEXTERA ENERGY CAP HLDGS INC | NEXTERA ENERGY CAP HLDGS INC 4.625% 07/15/2027 | 4.63% | 450000 | 7/15/2027 | 454826 |
|  | NIAGARA MOHAWK POWER CORP | NIAGARA MOHAWK POWER CORP 4.647% 10/03/2030 144A | 4.65% | 525000 | 10/3/2030 | 528241 |
|  | NISOURCE INC | NISOURCE INC 5.25% 03/30/2028 | 5.25% | 310000 | 3/30/2028 | 317819 |
|  | NMEF FUNDING 2025-A LLC | NMEF FUNDING 2025-A LLC 4.72% 07/15/2032 144A | 4.72% | 313541 | 7/15/2032 | 314681 |
|  | NORTHWOODS CAPITAL XIV-B LTD | NORTHWOODS CAPITAL XIV-B LTD TSFR3M+125 11/13/2031 | 5.09% | 924683 | 11/13/2031 | 926043 |
|  | NTT FINANCE CORP | NTT FINANCE CORP 4.62% 07/16/2028 144A | 4.62% | 565000 | 7/16/2028 | 572515 |
|  | NUTRIEN LTD | NUTRIEN LTD 4.9% 03/27/2028 | 4.90% | 400000 | 3/27/2028 | 407228 |
|  | NXP B V/NXP FDG LLC/NXP USA INC | NXP B V/NXP FDG LLC/NXP USA INC 4.3% 08/19/2028 | 4.30% | 285000 | 8/19/2028 | 286058 |
|  | NXP B V/NXP FDG LLC/NXP USA INC | NXP B V/NXP FDG LLC/NXP USA INC 4.4% 06/01/2027 | 4.40% | 70000 | 6/1/2027 | 70280 |
|  | NXP B V/NXP FDG LLC/NXP USA INC | NXP B V/NXP FDG LLC/NXP USA INC 3.875% 06/18/2026 | 3.88% | 555000 | 6/18/2026 | 554392 |
|  | NXP B V/NXP FDG LLC/NXP USA INC | NXP B V/NXP FDG LLC/NXP USA INC 3.15% 05/01/2027 | 3.15% | 160000 | 5/1/2027 | 158133 |
|  | NXP B V/NXP FDG LLC/NXP USA INC | NXP B V/NXP FDG LLC/NXP USA INC 4.3% 06/18/2029 | 4.30% | 699000 | 6/18/2029 | 700139 |
|  | OCTAGON INVESTMENT PARTNERS 36 LTD | OCTAGON INVESTMENT PARTNERS 36 LTD TSFR3M+ 04/15/2031 | 5.14% | 175696 | 4/15/2031 | 175745 |
|  | OCTAGON INVESTMENT PARTNERS 39 LTD | OCTAGON INVESTMENT PARTNERS 39 LTD TSFR3M+ 10/20/2030 | 5.03% | 246276 | 10/20/2030 | 246272 |
|  | OCTAGON INVT PARTNERS XXI LTD / OCTAGON | OCTAGON INVT PARTNERS XXI LTD / OCTAGON INVT PARTN | 5.20% | 565000 | 2/14/2031 | 564541 |
|  | OCTAGON INVT PARTNERS XXI LTD / OCTAGON | OCTAGON INVT PARTNERS XXI LTD / OCTAGON INVT PARTN | 5.00% | 1435000 | 2/14/2031 | 1435310 |

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | OCTAGON INVT PARTNERS XXI LTD / OCTAGON | OCTAGON INVT PARTNERS XXI LTD / OCTAGON INVT PARTN | 4.66% | 173836 | 2/14/2031 | 173847 |
|  | OCTANE RECEIVABLE TRUST | OCTANE RECEIVABLE TRUST 5.68% 05/20/2030 144A | 5.68% | 132461 | 5/20/2030 | 133440 |
|  | OCTANE RECEIVABLES TR 2024-RVM1 | OCTANE RECEIVABLES TR 2024-RVM1 5.01% 01/22/2046 1 | 5.01% | 180992 | 1/22/2046 | 183646 |
|  | OCTANE RECEIVABLES TR 2025-RVM1 | OCTANE RECEIVABLES TRUST 2025-RVM1 5.26% 12/20/204 | 5.26% | 770000 | 12/20/2046 | 771113 |
|  | OCTANE RECEIVABLES TR 2025-RVM1 | OCTANE RECEIVABLES TR 2025-RVM1 B 4.83% 12/20/2046 | 4.83% | 375000 | 12/20/2046 | 375849 |
|  | OCTANE RECEIVABLES TRUST 2023-1 | OCTANE RECEIVABLES TRUST 2023-1 5.96% 07/20/2029 1 | 5.96% | 365000 | 7/20/2029 | 366513 |
|  | OCTANE RECEIVABLES TRUST 2023-3 | OCTANE RECEIVABLES TRUST 2023-3 B 6.48% 07/20/2029 | 6.48% | 450000 | 7/20/2029 | 456149 |
|  | OCTANE RECEIVABLES TRUST 2024-3 | OCTANE RECEIVABLES TRUST 2024-3 5.51% 10/20/2031 1 | 5.51% | 215000 | 10/20/2031 | 219256 |
|  | OCTANE RECEIVABLES TRUST 2024-3 | OCTANE RECEIVABLES TRUST 2024-3 4.94% 05/20/2030 1 | 4.94% | 170909 | 5/20/2030 | 171839 |
|  | OMNICOM GROUP INC / OMNICOM CAPITAL INC | OMNICOM GROUP INC / OMNICOM CAPITAL INC 3.6% 04/15/2026 | 3.60% | 270000 | 4/15/2026 | 269602 |
|  | ONEOK INC NEW | ONEOK INC 5.625% 01/15/2028 144A | 5.63% | 317000 | 1/15/2028 | 323410 |
|  | ONEOK INC NEW | ONEOK INC 4.85% 07/15/2026 | 4.85% | 1401000 | 7/15/2026 | 1403634 |
|  | ONEOK INC NEW | ONEOK INC 4.25% 09/24/2027 | 4.25% | 1180000 | 9/24/2027 | 1183880 |
|  | ONEOK INC NEW | ONEOK INC 5.55% 11/01/2026 | 5.55% | 670000 | 11/1/2026 | 677214 |
|  | ORACLE CORP | ORACLE CORP 4.45% 09/26/2030 | 4.45% | 1085000 | 9/26/2030 | 1061495 |
|  | ORACLE CORP | ORACLE CORP 1.65% 03/25/2026 | 1.65% | 1530000 | 3/25/2026 | 1520353 |
|  | ORACLE CORP | ORACLE CORP 4.2% 09/27/2029 | 4.20% | 550000 | 9/27/2029 | 539031 |
|  | ORACLE CORP | ORACLE CORP 4.8% 08/03/2028 | 4.80% | 250000 | 8/3/2028 | 251245 |
|  | ORACLE CORP | ORACLE CORP 4.8% 08/03/2028 | 4.80% | 200000 | 8/3/2028 | 200996 |
|  | ORACLE CORP | ORACLE CORP 4.2% 09/27/2029 | 4.20% | 450000 | 9/27/2029 | 441025 |
|  | OREILLY AUTOMOTIVE INC | OREILLY AUTOMOTIVE INC 5.75% 11/20/2026 | 5.75% | 1727000 | 11/20/2026 | 1750241 |
|  | OREILLY AUTOMOTIVE INC | OREILLY AUTOMOTIVE INC 4.35% 06/01/2028 | 4.35% | 585000 | 6/1/2028 | 589861 |
|  | OVINTIV INC | OVINTIV INC 5.375% 01/01/2026 | 5.38% | 328000 | 1/1/2026 | 328000 |
|  | OVINTIV INC | OVINTIV INC CP 0% 01/20/2026 | —% | 3100000 | 1/20/2026 | 3092797 |
|  | OWENS CORNING | OWENS CORNING NEW 5.5% 06/15/2027 | 5.50% | 535000 | 6/15/2027 | 545977 |
|  | OWENS CORNING | OWENS CORNING NEW 3.4% 08/15/2026 | 3.40% | 397000 | 8/15/2026 | 395118 |
|  | OZLM FUNDING II LTD | OZLM FUNDING II LTD BR4 TSFR3M+175 07/30/2037 144A | 5.59% | 1330000 | 7/30/2037 | 1328541 |
|  | OZLM FUNDING II LTD | OZLM FUNDING II LTD 2A AR4 TSFR3M+120 07/30/2037 1 | 5.04% | 1400000 | 7/30/2037 | 1398453 |
|  | OZLM XXI LTD | OZLM XXI LTD TSFR3M+115 01/20/2031 144A | 5.03% | 152810 | 1/20/2031 | 152804 |
|  | PACIFIC GAS & ELECTRIC CO | PACIFIC GAS & ELECTRIC CO 5% 06/04/2028 | 5.00% | 345000 | 6/4/2028 | 350914 |
|  | PACIFIC GAS & ELECTRIC CO | PACIFIC GAS & ELECTRIC CO 5.45% 06/15/2027 | 5.45% | 110000 | 6/15/2027 | 111830 |
|  | PACIFIC GAS & ELECTRIC CO | PACIFIC GAS & ELECTRIC CO 3.15% 01/01/2026 | 3.15% | 400000 | 1/1/2026 | 400000 |
|  | PACIFIC GAS & ELECTRIC CO | PACIFIC GAS & ELECTRIC CO 3.3% 12/01/2027 | 3.30% | 255000 | 12/1/2027 | 251006 |
|  | PACIFIC GAS & ELECTRIC CO | PACIFIC GAS & ELECTRIC CO 3.3% 03/15/2027 | 3.30% | 208000 | 3/15/2027 | 205746 |
|  | PENSKE TRUCK LEASING | PENSKE TRUCK LEASING CO LP /CORP 5.35% 01/12/2027 | 5.35% | 375000 | 1/12/2027 | 379279 |
|  | PENSKE TRUCK LEASING | PENSKE TRUCK LEASING CO LP /CORP 5.75% 05/24/2026 | 5.75% | 1585000 | 5/24/2026 | 1592648 |
|  | PENSKE TRUCK LEASING | PENSKE TRUCK LEASING CO LP /CORP 1.7% 06/15/2026 1 | 1.70% | 146000 | 6/15/2026 | 144319 |
|  | PENSKE TRUCK LEASING | PENSKE TRUCK LEASING CO LP /CORP 3.4% 11/15/2026 1 | 3.40% | 310000 | 11/15/2026 | 307895 |
|  | PERKINELMER INC | REVVITY INC 1.9% 09/15/2028 | 1.90% | 746000 | 9/15/2028 | 701590 |
|  | PERNOD RICARD SA | PERNOD RICARD SA 3.25% 06/08/2026 144A | 3.25% | 1210000 | 6/8/2026 | 1209108 |
|  | PETROLEOS MEXICANOS | PETROLEOS MEXICANOS 6.7% 02/16/2032 | 6.70% | 2474000 | 2/16/2032 | 2466900 |
|  | PETROLEOS MEXICANOS | PETROLEOS MEXICANOS 6.375% 01/23/2045 | 6.38% | 800000 | 1/23/2045 | 642336 |
|  | PETROLEOS MEXICANOS | PETROLEOS MEXICANOS 7.69% 01/23/2050 | 7.69% | 3225000 | 1/23/2050 | 2890697 |
|  | PETROLEOS MEXICANOS | PETROLEOS MEXICANOS 7.69% 01/23/2050 | 7.69% | 1775000 | 1/23/2050 | 1591004 |
|  | PETROLEOS MEXICANOS | PETROLEOS MEXICANOS 6.75% 09/21/2047 | 6.75% | 250000 | 9/21/2047 | 205050 |
|  | PETROLEOS MEXICANOS | PETROLEOS MEXICANOS 6.375% 01/23/2045 | 6.38% | 875000 | 1/23/2045 | 702555 |
|  | PETROLEOS MEXICANOS | PETROLEOS MEXICANOS 6.7% 02/16/2032 | 6.70% | 2031000 | 2/16/2032 | 2025171 |
|  | PETROLEOS MEXICANOS | PETROLEOS MEXICANOS 6.625% 06/15/2035 | 6.63% | 225000 | 6/15/2035 | 213019 |
|  | PHILIP MORRIS INTL INC | PHILIP MORRIS INTL INC 5.125% 11/17/2027 | 5.13% | 246000 | 11/17/2027 | 251319 |
|  | PHILIP MORRIS INTL INC | PHILIP MORRIS INTL INC 5.625% 11/17/2029 | 5.63% | 150000 | 11/17/2029 | 157692 |
|  | PHILIP MORRIS INTL INC | PHILIP MORRIS INTL INC 5.75% 11/17/2032 | 5.75% | 175000 | 11/17/2032 | 187028 |
|  | PHILIP MORRIS INTL INC | PHILIP MORRIS INTL INC 5.375% 02/15/2033 | 5.38% | 425000 | 2/15/2033 | 444417 |
|  | PHILIP MORRIS INTL INC | PHILIP MORRIS INTL INC 5.125% 02/13/2031 | 5.13% | 200000 | 2/13/2031 | 207241 |
|  | PHILIP MORRIS INTL INC | PHILIP MORRIS INTL INC 5.125% 02/13/2031 | 5.13% | 100000 | 2/13/2031 | 103620 |
|  | PHILIP MORRIS INTL INC | PHILIP MORRIS INTL INC 4.875% 02/13/2029 | 4.88% | 100000 | 2/13/2029 | 102360 |
|  | PHILIP MORRIS INTL INC | PHILIP MORRIS INTL INC 5.375% 02/15/2033 | 5.38% | 275000 | 2/15/2033 | 287564 |

---

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | PHILIP MORRIS INTL INC | PHILIP MORRIS INTL INC 5.75% 11/17/2032 | 5.75% | 125000 | 11/17/2032 | 133592 |
|  | PHILIP MORRIS INTL INC | PHILIP MORRIS INTL INC 5.625% 11/17/2029 | 5.63% | 100000 | 11/17/2029 | 105128 |
|  | PLAINS ALL AM PIPELN/PAA FIN C | PLAINS ALL AM PIPELN/PAA FIN C 4.7% 01/15/2031 | 4.70% | 485000 | 1/15/2031 | 487735 |
|  | PNC FINANCIAL SERVICES GRP INC | PNC FINANCIAL SERVICES GRP INC 4.758%/VAR 01/26/20 | 4.76% | 910000 | 1/26/2027 | 910361 |
|  | POSCO | POSCO 5.625% 01/17/2026 REGS | 5.63% | 1000000 | 1/17/2026 | 1000525 |
|  | POST RD EQUIP FIN 2024-1 | POST RD EQUIP FIN 2024-1 5.59% 11/15/2029 144A | 5.59% | 29101 | 11/15/2029 | 29227 |
|  | PROGRESS RESIDENTIAL TRUST 2021-SFR8 | PROGRESS RESIDENTIAL TRUST 2021-SFR8 1.931% 10/17/ | 1.93% | 1325000 | 10/17/2038 | 1301805 |
|  | PROSUS NV | PROSUS NV 4.85% 07/06/2027 144A | 4.85% | 1700000 | 7/6/2027 | 1711696 |
|  | PROSUS NV | PROSUS NV 3.68% 01/21/2030 144A | 3.68% | 2225000 | 1/21/2030 | 2130438 |
|  | PROSUS NV | PROSUS NV 3.061% 07/13/2031 144A | 3.06% | 1900000 | 7/13/2031 | 1725428 |
|  | PROSUS NV | PROSUS NV 3.68% 01/21/2030 144A | 3.68% | 550000 | 1/21/2030 | 526625 |
|  | PROSUS NV | PROSUS NV 4.85% 07/06/2027 144A | 4.85% | 575000 | 7/6/2027 | 578956 |
|  | PUBLIC SVC ENTERPRISE GROUP IN | PUBLIC SVC ENTERPRISE GRP INC 4.9% 03/15/2030 | 4.90% | 1015000 | 3/15/2030 | 1037891 |
|  | REALTY INCOME CORP | REALTY INCOME CORP 5.05% 01/13/2026 | 5.05% | 125000 | 1/13/2026 | 125019 |
|  | REGAL-BELOIT CORP | REGAL REXNORD CORP 6.05% 04/15/2028 | 6.05% | 840000 | 4/15/2028 | 868949 |
|  | REGAL-BELOIT CORP | REGAL REXNORD CORP 6.05% 02/15/2026 | 6.05% | 1747000 | 2/15/2026 | 1750349 |
|  | RGA GLOBAL FUNDING | RGA GLOBAL FUNDING 4.6% 11/25/2030 144A | 4.60% | 1205000 | 11/25/2030 | 1204485 |
|  | RGA GLOBAL FUNDING | RGA GLOBAL FUNDING 4.35% 08/25/2028 144A | 4.35% | 960000 | 8/25/2028 | 964062 |
|  | RIO OIL FINANCE TR SER 2018-1 | RIO OIL FINANCE TR SER 2018-1 8.2% 04/06/2028 144A | 8.20% | 142500 | 4/6/2028 | 146916 |
|  | RIO OIL FINANCE TRUST SERIES 2014-3 | RIO OIL FINANCE TRUST SERIES 2014-3 9.75% 01/06/2027 | 9.75% | 467665 | 1/6/2027 | 480530 |
|  | RIO OIL FINANCE TRUST SERIES 2014-3 | RIO OIL FINANCE TRUST SERIES 2014-3 9.75% 01/06/2027 | 9.75% | 214666 | 1/6/2027 | 220571 |
|  | ROCKFORD TOWER CLO 2019-2 LTD | ROCKFORD TOWER CLO 2019-2 LTD TSFR3M+113 08/20/203 | 5.02% | 957646 | 8/20/2032 | 958731 |
|  | ROGERS COMMUNICATIONS INC-B | ROGERS COMMUNICATIONS INC 5% 02/15/2029 | 5.00% | 1455000 | 2/15/2029 | 1482582 |
|  | ROGERS COMMUNICATIONS INC-B | ROGERS COMMUNICATIONS INC 3.2% 03/15/2027 | 3.20% | 1115000 | 3/15/2027 | 1103801 |
|  | ROLLS-ROYCE PLC | ROLLS-ROYCE PLC 5.75% 10/15/2027 144A | 5.75% | 785000 | 10/15/2027 | 804707 |
|  | ROMARK CLO II LTD | ROMARK CLO II LTD 2018-2A A2R TSFR3M+165 07/25/203 | 5.51% | 1675000 | 7/25/2031 | 1675255 |
|  | ROSS STORES INC | ROSS STORES INC 0.875% 04/15/2026 | 0.88% | 1150000 | 4/15/2026 | 1139834 |
|  | ROYAL BANK OF SCOTLAND GRP PLC | NATWEST GROUP PLC 5.808%/VAR 09/13/2029 | 5.81% | 1800000 | 9/13/2029 | 1874991 |
|  | ROYAL BANK OF SCOTLAND GRP PLC | NATWEST GROUP PLC 6.475%/VAR 06/01/2034 | 6.47% | 750000 | 6/1/2034 | 787438 |
|  | ROYAL BANK OF SCOTLAND GRP PLC | NATWEST GROUP PLC 6.475%/VAR 06/01/2034 | 6.47% | 350000 | 6/1/2034 | 367471 |
|  | ROYAL BANK OF SCOTLAND GRP PLC | NATWEST GROUP PLC 5.516%/VAR 09/30/2028 | 5.52% | 200000 | 9/30/2028 | 205089 |
|  | ROYAL BANK OF SCOTLAND GRP PLC | NATWEST GROUP PLC 1.642%/VAR 06/14/2027 | 1.64% | 1150000 | 6/14/2027 | 1137469 |
|  | SABINE PASS LIQUEFACTION LLC | SABINE PASS LIQUEFACTION LLC 5.875% 06/30/2026 | 5.88% | 196000 | 6/30/2026 | 196277 |
|  | SABINE PASS LIQUEFACTION LLC | SABINE PASS LIQUEFACTION LLC 4.2% 03/15/2028 | 4.20% | 246000 | 3/15/2028 | 246242 |
|  | Sallie Mae | SLM STUDENT LOAN TRUST 2011-3 SOFR30A+121.448 08/2 | 5.09% | 142410 | 8/27/2040 | 143879 |
|  | Sallie Mae | SLM STUDENT LN TR 2006 8 SOFR90A+42.161 01/25/2041 | 4.73% | 2416528 | 1/25/2041 | 2339463 |
|  | Sallie Mae | SLC STUDENT LN TR 2007 1 A5 SOFR90A+35.161 05/15/2068 | 4.61% | 502540 | 2/15/2068 | 486334 |
|  | Sallie Mae | SLC STUDENT LN TR SOFR90A+42.161 12/15/2039 | 4.55% | 1450105 | 12/15/2039 | 1424634 |
|  | Sallie Mae | SLM STUDENT LOAN TRUST 2011-3 SOFR30A+121.448 08/27/2040 | 5.09% | 17504 | 8/27/2040 | 17685 |
|  | Sallie Mae | SLM STUDENT LN TR 2006 8 SOFR90A+42.161 01/25/2041 | 4.73% | 3534134 | 1/25/2041 | 3421429 |
|  | Sallie Mae | SLC STUDENT LN TR 2007 1 A5 SOFR90A+35.161 05/15/2068 | 4.61% | 1870019 | 2/15/2068 | 1809716 |
|  | Sallie Mae | SLC STUDENT LN TR SOFR90A+42.161 12/15/2039 | 4.55% | 2260022 | 12/15/2039 | 2220324 |
|  | SAMMONS FINANCIAL GROUP GLOBAL FUNDING | SAMMONS FINANCIAL GROUP GLOBAL FUNDING 5.05% 01/10/2028 | 5.05% | 420000 | 1/10/2028 | 426522 |
|  | SANTANDER BANK NA - SBCLN | SANTANDER BANK NA - SBCLN 4.94% 01/16/2034 144A | 4.66% | 250000 | 1/16/2034 | 250605 |
|  | SANTANDER BANK NA - SBCLN | SANTANDER BANK NA - SBCLN 4.744% 01/16/2034 144A | 4.48% | 250000 | 1/16/2034 | 250606 |
|  | SANTANDER BANK NA - SBCLN | SANTANDER BANK NA - SBCLN 24-A C 5.818% 06/15/2032 | 5.82% | 208478 | 6/15/2032 | 211280 |
|  | SANTANDER BANK NA - SBCLN | SANTANDER BANK NA - SBCLN 24-A B 5.622% 06/15/2032 | 5.62% | 175904 | 6/15/2032 | 178495 |
|  | SANTANDER BANK NA - SBCLN | SANTANDER BANK NA - SBCLN 23-B C 5.933% 12/15/2033 | 5.93% | 761407 | 12/15/2033 | 771820 |
|  | SANTANDER BANK NA - SBCLN | SANTANDER BANK NA - SBCLN 5.644% 12/15/2033 144A | 5.64% | 107393 | 12/15/2033 | 109262 |
|  | SANTANDER BANK NA - SBCLN | SANTANDER BANK NA - SBCLN 6.736% 06/15/2033 144A | 6.74% | 3613 | 6/15/2033 | 3616 |
|  | SANTANDER BANK NA - SBCLN | SANTANDER BANK NA - SBCLN 6.493% 06/15/2033 144A | 6.49% | 12646 | 6/15/2033 | 12656 |
|  | SANTANDER BK AUTO CR LINKED NTS SER 2024 | SANTANDER BK AUTO CR LINKED NTS SER 2024-B 5.141% | 5.14% | 222133 | 1/18/2033 | 223629 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | SANTANDER BK AUTO CR LINKED NTS SER 2024 | SANTANDER BK AUTO CR LINKED NTS SER 2024-B 4.965% | 4.97% | 222133 | 1/18/2033 | 223695 |
|  | SANTANDER DRIVE AUTO RECEIVABLES TRUST | SANTANDER DRIVE AUTO RECEIVABLES TRUST 5.09% 05/15 | 5.09% | 207322 | 5/15/2030 | 208666 |
|  | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2 | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2025-4 4.27 | 4.27% | 640000 | 1/15/2032 | 641246 |
|  | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2 | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2022-5 4.74 | 4.74% | 64320 | 10/16/2028 | 64361 |
|  | SANTANDER HLDGS USA INC | SANTANDER HLDGS USA INC 6.124%/VAR 05/31/2027 | 6.12% | 125000 | 5/31/2027 | 125848 |
|  | SANTANDER HLDGS USA INC | SANTANDER HLDGS USA INC 2.49%/VAR 01/06/2028 | 2.49% | 360000 | 1/6/2028 | 353840 |
|  | SANTANDER MORTGAGE ASSET RECEIVABLE TRUS | SANTANDER MORTGAGE ASSET RECEIVABLE TRUST 2025-CES | 5.04% | 771873 | 9/25/2055 | 772496 |
|  | SANTANDER UK GROUP HOLDINGS PLC | SANTANDER UK GROUP HOLDINGS PLC 4.32%/VAR 09/22/2029 | 4.32% | 435000 | 9/22/2029 | 435415 |
|  | SANTANDER UK GROUP HOLDINGS PLC | SANTANDER UK GROUP HOLDINGS PLC 1.673%/VAR 06/14/2027 | 1.67% | 335000 | 6/14/2027 | 331255 |
|  | SBA TOWER TR | SBA TOWER TR 4.831% 10/15/2029 144A | 4.83% | 1690000 | 10/15/2029 | 1700536 |
|  | SBA TOWER TR | SBA TOWER TR 1.631% 05/15/2051 144A | 1.63% | 829000 | 5/15/2051 | 811095 |
|  | SBA TOWER TR | SBA TOWER TR 6.599% 11/15/2052 144A | 6.60% | 987000 | 11/15/2052 | 1010679 |
|  | SBA TOWER TR | SBA TOWER TR 1.884% 07/15/2050 144A | 1.88% | 475000 | 1/15/2026 | 474470 |
|  | SBNA AUTO LEASE TRUST 2024-B | SBNA AUTO LEASE TRUST 2024-B A4 5.55% 12/20/2028 1 | 5.55% | 845000 | 12/20/2028 | 855521 |
|  | SCF EQUIPMENT LEASING 2023-1 LLC | SCF EQUIPMENT LEASING 2023-1A A3 LLC 6.17% 05/20/2032 | 6.17% | 372191 | 5/20/2032 | 377105 |
|  | SCHLUMBERGER HOLDINGS CORPORATION | SCHLUMBERGER HOLDINGS CORPORATION 3.9% 05/17/2028 | 3.90% | 1086000 | 5/17/2028 | 1083628 |
|  | SCHLUMBERGER INVT SA | SCHLUMBERGER INVT SA 4.5% 05/15/2028 | 4.50% | 596000 | 5/15/2028 | 601501 |
|  | SCHWAB CHARLES CORP NEW | SCHWAB CHARLES CORP 4.343%/VAR 11/14/2031 | 4.34% | 1465000 | 11/14/2031 | 1462812 |
|  | SCHWAB CHARLES CORP NEW | SCHWAB CHARLES CORP 5.643%/VAR 05/19/2029 | 5.64% | 300000 | 5/19/2029 | 311428 |
|  | SCHWAB CHARLES CORP NEW | SCHWAB CHARLES CORP 5.853%/VAR 05/19/2034 | 5.85% | 150000 | 5/19/2034 | 160679 |
|  | SCHWAB CHARLES CORP NEW | SCHWAB CHARLES CORP 6.136%/VAR 08/24/2034 | 6.14% | 175000 | 8/24/2034 | 190745 |
|  | SCHWAB CHARLES CORP NEW | SCHWAB CHARLES CORP 6.196%/VAR 11/17/2029 | 6.20% | 625000 | 11/17/2029 | 661027 |
|  | SCHWAB CHARLES CORP NEW | SCHWAB CHARLES CORP 6.196%/VAR 11/17/2029 | 6.20% | 500000 | 11/17/2029 | 528822 |
|  | SCHWAB CHARLES CORP NEW | SCHWAB CHARLES CORP 6.136%/VAR 08/24/2034 | 6.14% | 125000 | 8/24/2034 | 136246 |
|  | SCHWAB CHARLES CORP NEW | SCHWAB CHARLES CORP 5.853%/VAR 05/19/2034 | 5.85% | 100000 | 5/19/2034 | 107119 |
|  | SCHWAB CHARLES CORP NEW | SCHWAB CHARLES CORP 5.643%/VAR 05/19/2029 | 5.64% | 200000 | 5/19/2029 | 207619 |
|  | SEB FUNDING LLC | SEB FUNDING LLC 1A A2 7.386% 04/30/2054 144A | 7.39% | 782000 | 4/30/2054 | 799992 |
|  | SECURITIZED TERM AUTO RECEIVABLES TRUST | SECURITIZED TERM AUTO RECEIVABLES TRUST 5.121% 12/29/2032 | 5.12% | 61023 | 12/29/2032 | 61541 |
|  | SECURITIZED TERM AUTO RECEIVABLES TRUST | SECURITIZED TERM AUTO RECEIVABLES TRUST 4.925% 12/29/2032 | 4.93% | 137301 | 12/29/2032 | 138490 |
|  | SECURITIZED TERM AUTO RECEIVABLES TRUST | SECURITIZED TERM AUTO RECEIVABLES TRUST 2025-A 5.6 | 5.04% | 183613 | 7/25/2031 | 185228 |
|  | SEMPRA ENERGY | SEMPRA 5.4% 08/01/2026 | 5.40% | 540000 | 8/1/2026 | 543464 |
|  | SFS AUTO RECEIVABLES SECURITIZATION TR 2 | SFS AUTO RECEIVABLES SECURITIZATION TR 2024-1 5.51 | 5.51% | 90000 | 1/20/2032 | 92037 |
|  | SFS AUTO RECEIVABLES SECURITIZATION TR 2 | SFS AUTO RECEIVABLES SECURITIZATION TR 2024-1 4.95 | 4.95% | 196108 | 5/21/2029 | 197310 |
|  | SFS AUTO RECEIVABLES SECURITIZATION TR 2 | SFS AUTO RECEIVABLES SECURITIZATION TR 2024-2 A4 5 | 5.26% | 230000 | 8/20/2030 | 235790 |
|  | SFS AUTO RECEIVABLES SECURITIZATION TRUS | SFS AUTO RECEIVABLES SECURITIZATION TRUST 2023-1 5 | 5.71% | 205000 | 1/22/2030 | 209948 |
|  | SHERWIN WILLIAMS CO | SHERWIN WILLIAMS CO 4.55% 03/01/2028 | 4.55% | 675000 | 3/1/2028 | 682946 |
|  | SIERRA TIMESHARE 2021-2 RECEIVABLES FUND | SIERRA TIMESHARE 2021-2 RECEIVABLES FUNDING LLC 1. | 1.80% | 105885 | 9/20/2038 | 105451 |
|  | SIERRA TIMESHARE 2025-2 RECEIVABLES FUND | SIERRA TIMESHARE 2025-2A B RECEIVABLES FUNDING LLC | 4.93% | 273243 | 4/20/2044 | 274231 |
|  | SIERRA TIMESHARE 2025-3 RECEIVABLES FDG | SIERRA TIMESHARE 2025-3A RECEIVABLES FDG LLC 3A B | 4.64% | 223718 | 8/22/2044 | 224649 |
|  | SIERRA TIMESHARE 2025-3 RECEIVABLES FDG | SIERRA TIMESHARE 2025-3 RECEIVABLES FDG LLC 3A A 4 | 4.44% | 120808 | 8/22/2044 | 121059 |
|  | SMALL BUS ADMIN GTD DEV PARTN | SBAP 2006-20G 1 6.07% 7/26 | 6.07% | 2049 | 7/1/2026 | 2051 |
|  | SMALL BUS ADMIN GTD DEV PARTN | SMALL BUS ADMIN GTD DEV PARTN 5.82% 06/01/2026 | 5.82% | 1023 | 6/1/2026 | 1027 |
|  | SMALL BUS ADMIN GTD DEV PARTN | SBAP 2007-20E 1 5.31% 5/27 | 5.31% | 7021 | 5/1/2027 | 7022 |
|  | SMALL BUS ADMIN GTD DEV PARTN | SBAP 2006-20H 1 5.7 8/26 | 5.70% | 2735 | 8/1/2026 | 2742 |
|  | SMALL BUS ADMIN GTD DEV PARTN | SMALL BUS ADMIN GTD DEV PARTN 5.82% 06/01/2026 | 5.82% | 1390 | 6/1/2026 | 1397 |
|  | SMB PRIVATE ED LN TR 2017-B | SMB PRIVATE EDUCATION LOAN TRUST 2017-B A2A 2.82% | 2.82% | 50326 | 10/15/2035 | 50182 |
|  | SMB PRIVATE ED LN TR 2022-D | SMB PRIVATE ED LN TR 2022-DA A1A 5.37% 10/15/2058 | 5.37% | 533092 | 10/15/2058 | 545027 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | SMB PRIVATE ED LN TR 2023-B | SMB PRIVATE ED LN TR 2023-B A1A 4.99% 10/16/2056 1 | 4.99% | 422932 | 10/16/2056 | 426488 |
|  | SMB PRIVATE ED LN TR 2023-B | SMB PRIVATE ED LN TR 2023-B A1A 4.99% 10/16/2056 1 | 4.99% | 1108993 | 10/16/2056 | 1118317 |
|  | SMB PRIVATE ED LN TR 2025-A | SMB PRIVATE ED LN TR 2025-A 5.13% 04/15/2054 144A | 5.13% | 451553 | 4/15/2054 | 458446 |
|  | SMB PRIVATE ED LN TR 2025-A | SMB PRIVATE ED LN TR 2025-A 5.13% 04/15/2054 144A | 5.13% | 544657 | 4/15/2054 | 552971 |
|  | SMB PRIVATE ED LN TR 2025-A | SMB PRIVATE ED LN TR 2025-A 5.13% 04/15/2054 144A | 5.13% | 607037 | 4/15/2054 | 616303 |
|  | SMB PRIVATE EDUCATION LOAN TRUST 2023-D | SMB PRIVATE EDUCATION LOAN TRUST 2023-D A1A 6.15% | 6.15% | 414310 | 9/15/2053 | 436323 |
|  | SMB PRIVATE EDUCATION LOAN TRUST 2024-A | SMB PRIVATE EDUCATION LOAN TRUST 2024-A A1A 5.24% | 5.24% | 196194 | 3/15/2056 | 199716 |
|  | SMB PRIVATE EDUCATION LOAN TRUST 2024-A | SMB PRIVATE EDUCATION LOAN TRUST 2024-A A1A 5.24% | 5.24% | 930747 | 3/15/2056 | 947452 |
|  | SOCIETE GENERALE FRANCE | SOCIETE GENERALE FRANCE 5.519%/VAR 01/19/2028 144A | 5.52% | 675000 | 1/19/2028 | 683563 |
|  | SOLVENTUM CORP | SOLVENTUM CORP 5.45% 02/25/2027 | 5.45% | 462000 | 2/25/2027 | 468658 |
|  | SOUND POINT CLO XXII LTD | SOUND POINT CLO XXII LTD TSFR3M+165 01/20/2032 144 | 5.53% | 250000 | 1/20/2032 | 250612 |
|  | SOUTHERN CALIFORNIA EDISON CO | SOUTHERN CALIFORNIA EDISON CO CP 0% 01/06/2026 | —% | 1610000 | 1/6/2026 | 1608918 |
|  | SOUTHERN CO GAS CAP | SOUTHERN CO GAS CAP 4.05% 09/15/2028 | 4.05% | 540000 | 9/15/2028 | 540171 |
|  | SOUTHERN COMPANY | SOUTHERN COMPANY STEP 08/01/2027 | 5.11% | 540000 | 8/1/2027 | 548633 |
|  | SOUTHERN COMPANY | SOUTHERN COMPANY STEP 08/01/2027 | 5.11% | 825000 | 8/1/2027 | 838190 |
|  | SOUTHERN COMPANY | SOUTHERN COMPANY T5Y+373.3 01/15/2051 | 4.00% | 2050000 | 1/15/2051 | 2048771 |
|  | SOUTHERN COMPANY | SOUTHERN COMPANY 3.75%/VAR 09/15/2051 | 3.75% | 400000 | 9/15/2051 | 394336 |
|  | SOUTHERN COMPANY | SOUTHERN COMPANY 4.85% 06/15/2028 | 4.85% | 475000 | 6/15/2028 | 483588 |
|  | SOUTHERN COMPANY | SOUTHERN COMPANY 3.75%/VAR 09/15/2051 | 3.75% | 1175000 | 9/15/2051 | 1158363 |
|  | SOUTHERN COMPANY | SOUTHERN COMPANY T5Y+373.3 01/15/2051 | 4.00% | 725000 | 1/15/2051 | 724565 |
|  | SOUTHERN COMPANY | SOUTHERN COMPANY STEP 08/01/2027 | 5.11% | 250000 | 8/1/2027 | 253997 |
|  | SOUTHWEST AIRLINES CO | SOUTHWEST AIRLINES CO 4.375% 11/15/2028 | 4.38% | 970000 | 11/15/2028 | 972030 |
|  | STANDARD CHARTERED PLC | STANDARD CHARTERED PLC 5.688%/VAR 05/14/2028 144A | 5.69% | 615000 | 5/14/2028 | 627556 |
|  | STANDARD CHARTERED PLC | STANDARD CHARTERED PLC 4.3% 02/19/2027 144A | 4.30% | 307000 | 2/19/2027 | 306901 |
|  | STARBUCKS CORP | STARBUCKS CORP 2% 03/12/2027 | 2.00% | 235000 | 3/12/2027 | 229577 |
|  | STARBUCKS CORP | STARBUCKS CORP 4% 11/15/2028 | 4.00% | 605000 | 11/15/2028 | 604241 |
|  | STATE BK INDIA LONDON BRH | STATE BANK INDIA LONDON BRH 1.8% 07/13/2026 REGS | 1.80% | 1650000 | 7/13/2026 | 1629644 |
|  | STEEL DYNAMICS INC | STEEL DYNAMICS INC 4% 12/15/2028 | 4.00% | 1470000 | 12/15/2028 | 1468311 |
|  | STELLANTIS FINANCIAL UNDERWRITTEN ENHANC | STELLANTIS FINANCIAL UNDERWRITTEN ENHANCED LEASE T | 4.44% | 355000 | 8/20/2030 | 355570 |
|  | STELLANTIS FINANCIAL UNDERWRITTEN ENHANC | STELLANTIS FINANCIAL UNDERWRITTEN ENHANCED LEASE T | 4.25% | 95000 | 12/20/2029 | 94999 |
|  | STRATUS FUNDING CLO 2025-1 LTD | STRATUS FUNDING CLO 2025-1 LTD B TSFR3M+ 07/15/203 | 5.35% | 480000 | 7/15/2033 | 480000 |
|  | STRYKER CORP | STRYKER CORP 4.7% 02/10/2028 | 4.70% | 729000 | 2/10/2028 | 739404 |
|  | SYDNEY AIRPORT FINANCE CO PTY LTD | SYDNEY ARPT FIN CO PTY LTD 3.625% 04/28/2026 144A | 3.63% | 177000 | 4/28/2026 | 176635 |
|  | SYMPHONY CLO XXIII LTD | SYMPHONY CLO XXIII LTD TSFR3M+90 01/15/2034 144A | 4.80% | 587291 | 1/15/2034 | 586795 |
|  | SYNOPSYS INC | SYNOPSYS INC 4.65% 04/01/2028 | 4.65% | 1525000 | 4/1/2028 | 1545551 |
|  | SYNOPSYS INC | SYNOPSYS INC 4.85% 04/01/2030 | 4.85% | 475000 | 4/1/2030 | 485143 |
|  | SYNOPSYS INC | SYNOPSYS INC 5% 04/01/2032 | 5.00% | 300000 | 4/1/2032 | 306333 |
|  | SYNOPSYS INC | SYNOPSYS INC 5% 04/01/2032 | 5.00% | 225000 | 4/1/2032 | 229750 |
|  | SYNOPSYS INC | SYNOPSYS INC 4.85% 04/01/2030 | 4.85% | 375000 | 4/1/2030 | 383007 |
|  | TAKE-TWO INTERACTV SOFTWR INC | TAKE-TWO INTERACTV SOFTWR INC 5% 03/28/2026 | 5.00% | 950000 | 3/28/2026 | 952077 |
|  | TARGA RES CORP | TARGA RES CORP 5.2% 07/01/2027 | 5.20% | 851000 | 7/1/2027 | 864799 |
|  | TARGA RES CORP | TARGA RES CORP 4.35% 01/15/2029 | 4.35% | 570000 | 1/15/2029 | 571583 |
|  | TENGIZCHEVROIL FIN CO IN | TENGIZCHEVROIL FIN CO IN 4% 08/15/2026 REGS | 4.00% | 1200000 | 8/15/2026 | 1192308 |
|  | The Ford Credit Floorplan Master Owner Trust | FORD CR FLOORPLN MAST OWN TR A 5.48% 04/15/2029 14 | 5.48% | 440000 | 4/15/2029 | 447114 |
|  | The Ford Credit Floorplan Master Owner Trust | FORD CR FLOORPLN MAST OWN TR 2023-1 D 6.62% 05/15/2028 | 6.62% | 485000 | 5/15/2028 | 488374 |
|  | The Ford Credit Floorplan Master Owner Trust | FORD CR FLOORPLN MAST OWN TR 2023-1 C 5.75% 05/15/2028 | 5.75% | 400000 | 5/15/2028 | 401815 |
|  | TIAA CLO I LTD | TIAA CLO I LTD TSFR3M+125 07/20/2031 144A | 5.13% | 372839 | 7/20/2031 | 372839 |
|  | TIME WARNER CABLE LLC | TIME WARNER CABLE LLC 6.75% 06/15/2039 | 6.75% | 575000 | 6/15/2039 | 581589 |
|  | T-MOBILE USA INC | T-MOBILE USA INC 3.875% 04/15/2030 | 3.88% | 1225000 | 4/15/2030 | 1204634 |
|  | T-MOBILE USA INC | T-MOBILE USA INC 3.5% 04/15/2031 | 3.50% | 1250000 | 4/15/2031 | 1195075 |
|  | T-MOBILE USA INC | T-MOBILE USA INC 2.55% 02/15/2031 | 2.55% | 425000 | 2/15/2031 | 388273 |
|  | T-MOBILE USA INC | T-MOBILE USA INC 3.5% 04/15/2031 | 3.50% | 1050000 | 4/15/2031 | 1003863 |
|  | T-MOBILE USA INC | T-MOBILE USA INC 3.875% 04/15/2030 | 3.88% | 300000 | 4/15/2030 | 295012 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | TOYOTA AUTO RECEIVABLES 2024-C OWNER TRU | TOYOTA AUTO RECEIVABLES 2024-C OWNER TRUST 4.88% 0 | 4.88% | 557000 | 3/15/2029 | 562856 |
|  | TOYOTA AUTO RECEIVABLES 2024-C OWNER TRU | TOYOTA AUTO RECEIVABLES 2024-C OWNER TRUST 4.88% 0 | 4.88% | 796000 | 3/15/2029 | 804369 |
|  | TOYOTA AUTO RECEIVABLES 2025-A OWNER TRU | TOYOTA AUTO RECEIVABLES 2025-A OWNER TRUST 4.64% 0 | 4.64% | 482000 | 8/15/2029 | 487186 |
|  | TOYOTA AUTO RECEIVABLES 2025-A OWNER TRU | TOYOTA AUTO RECEIVABLES 2025-A OWNER TRUST 4.64% 0 | 4.64% | 291000 | 8/15/2029 | 294131 |
|  | TOYOTA AUTO RECEIVABLES 2025-B OWNER TR | TOYOTA AUTO RECEIVABLES 2025-B OWNER TR 4.49% 06/17/2030 | 4.49% | 1393000 | 6/17/2030 | 1414026 |
|  | TPMT 19-1 A1 3.75% 2/25/58 | TOWD PT MTG TR 2019-1 3.75% 03/25/2058 144A | 3.75% | 172767 | 3/25/2058 | 168833 |
|  | TRANSCANADA | TRANSCANADA TRUST 5.3%/VAR 03/15/2077 | 5.30% | 625000 | 3/15/2077 | 624951 |
|  | TRANSCANADA | TRANSCANADA TRUST 5.875%/VAR 08/15/2076 | 5.88% | 850000 | 8/15/2076 | 851040 |
|  | TRANSCANADA TRUST | TRANSCANADA TRUST 5.875%/VAR 08/15/2076 | 5.88% | 750000 | 8/15/2076 | 750918 |
|  | TRANSCANADA TRUST | TRANSCANADA TRUST 5.3%/VAR 03/15/2077 | 5.30% | 1925000 | 3/15/2077 | 1924849 |
|  | TRANSCANADA TRUST | TRANSCANADA TRUST 5.5%/VAR 09/15/2079 | 5.50% | 1200000 | 9/15/2079 | 1190976 |
|  | TRINITAS CLO IX LTD | TRINITAS CLO IX LTD TSFR3M+ 01/20/2032 144A | 5.08% | 86821 | 1/20/2032 | 86829 |
|  | TRINITAS CLO VI LTD / TRINITAS CLO VI LL | TRINITAS CLO VI LTD / TRINITAS CLO VI LLC 2017-6A | 5.23% | 1190000 | 1/25/2034 | 1190822 |
|  | TRINITAS CLO VII LTD | TRINITAS CLO VII LTD 17-7A A1R2 TSFR3M+106 01/25/2035 | 4.92% | 1460000 | 1/25/2035 | 1457073 |
|  | UBER TECHNOLOGIES INC | UBER TECHNOLOGIES INC 4.5% 08/15/2029 144A | 4.50% | 1384000 | 8/15/2029 | 1384170 |
|  | UBS GROUP AG | UBS GROUP AG 6.301%/VAR 09/22/2034 144A | 6.30% | 300000 | 9/22/2034 | 327255 |
|  | UBS GROUP AG | UBS GROUP AG 5.959%/VAR 01/12/2034 144A | 5.96% | 1750000 | 1/12/2034 | 1864975 |
|  | UBS GROUP AG | UBS GROUP AG 5.959%/VAR 01/12/2034 144A | 5.96% | 1200000 | 1/12/2034 | 1278840 |
|  | UBS GROUP AG | UBS GROUP AG 6.301%/VAR 09/22/2034 144A | 6.30% | 200000 | 9/22/2034 | 218170 |
|  | UBS GROUP AG | UBS GROUP AG 3.091%/VAR 05/14/2032 144A | 3.09% | 350000 | 5/14/2032 | 324720 |
|  | ULTRAPAR INTERNATIONL SA | ULTRAPAR INTERNATIONL SA 5.25% 10/06/2026 144A | 5.25% | 825000 | 10/6/2026 | 821428 |
|  | ULTRAPAR INTERNATIONL SA | ULTRAPAR INTERNATIONL SA 5.25% 10/06/2026 144A | 5.25% | 375000 | 10/6/2026 | 373376 |
|  | UNASSIGNED LIVE C 213 | GMF FLOORPLAN OWNER REVOLVING TR 4.98% 11/15/2029 | 4.98% | 810000 | 11/15/2029 | 820783 |
|  | UNASSIGNED LIVE C 213 | GMF FLOORPLAN OWNER REVOLVING TR 4.73% 11/15/2029 | 4.73% | 335000 | 11/15/2029 | 339639 |
|  | UNASSIGNED LIVE C 213 | GMF FLOORPLAN OWNER REVOLVING TR 5.73% 06/15/2028 | 5.73% | 560000 | 6/15/2028 | 563583 |
|  | UNICREDIT SPA | UNICREDIT SPA 7.296%/VAR 04/02/2034 144A | 7.30% | 2075000 | 4/2/2034 | 2224885 |
|  | UNICREDIT SPA | UNICREDIT SPA 5.459%/VAR 06/30/2035 144A | 5.46% | 350000 | 6/30/2035 | 356760 |
|  | UNICREDIT SPA | UNICREDIT SPA 5.459%/VAR 06/30/2035 144A | 5.46% | 500000 | 6/30/2035 | 509657 |
|  | UNICREDIT SPA | UNICREDIT SPA 7.296%/VAR 04/02/2034 144A | 7.30% | 1100000 | 4/2/2034 | 1179457 |
|  | UNION PAC RR CO | TRANSCANADA TRUST 5.5%/VAR 09/15/2079 | 5.50% | 700000 | 9/15/2079 | 694736 |
|  | UNITED TECHNOLOGIES CORP | RTX CORP 6.7% 08/01/2028 | 6.70% | 533000 | 8/1/2028 | 564778 |
|  | UNITED TECHNOLOGIES CORP | RTX CORP 7% 11/01/2028 | 7.00% | 508000 | 11/1/2028 | 543651 |
|  | UNITED TECHNOLOGIES CORP | RTX CORP 6% 03/15/2031 | 6.00% | 275000 | 3/15/2031 | 296217 |
|  | UNITED TECHNOLOGIES CORP | RTX CORP 6.1% 03/15/2034 | 6.10% | 275000 | 3/15/2034 | 300876 |
|  | UNITED TECHNOLOGIES CORP | RTX CORP 6.1% 03/15/2034 | 6.10% | 200000 | 3/15/2034 | 218819 |
|  | UNITED TECHNOLOGIES CORP | RTX CORP 6% 03/15/2031 | 6.00% | 175000 | 3/15/2031 | 188502 |
|  | UNUMPROVIDENT CORP | UNUM GROUP 6.75% 12/15/2028 | 6.75% | 75000 | 12/15/2028 | 79641 |
|  | UPJOHN INC | VIATRIS INC 2.3% 06/22/2027 | 2.30% | 680000 | 6/22/2027 | 660527 |
|  | US BANCORP DEL (NEW) | US BANCORP DEL 4.548%/VAR 07/22/2028 | 4.55% | 780000 | 7/22/2028 | 786464 |
|  | USCLN 2023-1 | USCLN 2023-1 6.789% 08/25/2032 144A | 6.79% | 53943 | 8/25/2032 | 54495 |
|  | UTAH ACQUISITION SUB INC | UTAH ACQUISITION SUB INC 3.95% 06/15/2026 | 3.95% | 914000 | 6/15/2026 | 911933 |
|  | VALERO ENERGY CORP NEW | VALERO ENERGY CORP 5.15% 02/15/2030 | 5.15% | 270000 | 2/15/2030 | 277865 |
|  | VAR ENERGI ASA | VAR ENERGI ASA 5% 05/18/2027 144A | 5.00% | 845000 | 5/18/2027 | 851810 |
|  | VERD 2025-1A A2 | VERD 2025-1A B A2 5.37% 05/12/2033 144A | 5.37% | 100000 | 5/12/2033 | 102717 |
|  | VERD 2025-1A A2 | VERD 2025-1A A2 4.85% 03/13/2028 144A | 4.85% | 340752 | 3/13/2028 | 342342 |
|  | VERDANT RECEIVABLES 2023-1 LLC | VERDANT RECEIVABLES 2023-1 LLC 6.24% 01/13/2031 14 | 6.24% | 246104 | 1/13/2031 | 250451 |
|  | VERDANT RECEIVABLES 2024-1 LLC | VERDANT RECEIVABLES 2024-1 LLC 5.68% 12/12/2031 14 | 5.68% | 134581 | 12/12/2031 | 137270 |
|  | VERISK ANALYTICS INC | VERISK ANALYTICS INC 4.5% 08/15/2030 | 4.50% | 850000 | 8/15/2030 | 856431 |
|  | VERIZON COMMUNICATIONS INC | VERIZON COMMUNICATIONS INC 4.75% 01/15/2033 | 4.75% | 605000 | 1/15/2033 | 604526 |
|  | VERIZON COMMUNICATIONS INC | VERIZON COMMUNICATIONS INC 2.1% 03/22/2028 | 2.10% | 1260000 | 3/22/2028 | 1209725 |
|  | VERIZON COMMUNICATIONS INC | VERIZON COMMUNICATIONS INC 4.75% 01/15/2033 | 4.75% | 500000 | 1/15/2033 | 499608 |
|  | VERIZON COMMUNICATIONS INC | VERIZON COMMUNICATIONS INC 4.75% 01/15/2033 | 4.75% | 150000 | 1/15/2033 | 149883 |
|  | VERIZON COMMUNICATIONS INC | VERIZON COMMUNICATIONS INC 2.55% 03/21/2031 | 2.55% | 275000 | 3/21/2031 | 251128 |
|  | VERIZON MASTER TRUST 2021-1 A | VERIZON MASTER TRUST 4.42% 08/20/2030 | 4.42% | 1080000 | 8/20/2030 | 1085049 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | VISTRA OPERATIONS CO LLC | VISTRA OPERATIONS CO LLC 5.05% 12/30/2026 144A | 5.05% | 531000 | 12/30/2026 | 534788 |
|  | VMWARE LLC | UNION PAC RR CO 2006 1 PT TR 5.866% 07/02/2030 | 5.87% | 27509 | 7/2/2030 | 28617 |
|  | VODAFONE GROUP PLC | VODAFONE GROUP PLC USSW5+NA 04/04/2079 | 7.00% | 1150000 | 4/4/2079 | 1218209 |
|  | VODAFONE GROUP PLC | VODAFONE GROUP PLC USSW5+NA 04/04/2079 | 7.00% | 600000 | 4/4/2079 | 635587 |
|  | VOLKSWAGEN AUTO LN ENHANCED TR 2021-1 | VOLKSWAGEN AUTO LOAN ENHANCED TRUST 2023-1 5.02% 0 | 5.02% | 282966 | 6/20/2028 | 284570 |
|  | VOLKSWAGEN AUTO LN ENHANCED TR 20252 | VOLKSWAGEN AUTO LN ENHANCED TR 20252 4.29% 03/20/2030 | 3.92% | 1796000 | 3/20/2030 | 1800788 |
|  | VOLKSWAGEN AUTO LOAN ENHANCED TRUST 2025 | VOLKSWAGEN AUTO LOAN ENHANCED TRUST 2025-1 4.5% 08/20/2029 | 4.50% | 1168000 | 8/20/2029 | 1180231 |
|  | VOLKSWAGEN AUTO LOAN ENHANCED TRUST 2025 | VOLKSWAGEN AUTO LOAN ENHANCED TRUST 2025-1 4.5% 08/20/2029 | 4.50% | 1615000 | 8/20/2029 | 1631912 |
|  | VOLKSWAGEN GROUP AMER FIN LLC | VOLKSWAGEN GROUP AMER FIN LLC 4.45% 09/11/2027 144 | 4.45% | 200000 | 9/11/2027 | 200578 |
|  | VOLKSWAGEN GROUP AMER FIN LLC | VOLKSWAGEN GROUP AMER FIN LLC 5.05% 03/27/2028 144 | 5.05% | 470000 | 3/27/2028 | 477085 |
|  | VOLKSWAGEN GROUP AMER FIN LLC | VOLKSWAGEN GROUP AMER FIN LLC 4.85% 08/15/2027 144 | 4.85% | 1045000 | 8/15/2027 | 1054940 |
|  | VOLKSWAGEN GROUP AMER FIN LLC | VOLKSWAGEN GROUP AMER FIN LLC 6% 11/16/2026 144A | 6.00% | 595000 | 11/16/2026 | 604600 |
|  | VOLKSWAGEN GROUP AMER FIN LLC | VOLKSWAGEN GROUP AMER FIN LLC 5.7% 09/12/2026 144A | 5.70% | 795000 | 9/12/2026 | 803265 |
|  | WASTE MANAGEMENT INC DEL | WASTE MANAGEMENT INC DEL 3.875% 01/15/2029 | 3.88% | 1200000 | 1/15/2029 | 1198245 |
|  | WELLFLEET CLO 2021-1 LTD | WELLFLEET CLO 2021-1 LTD BR TSFR3M+165 04/20/2034 | 5.53% | 1180000 | 4/20/2034 | 1180832 |
|  | WELLS FARGO & CO | WELLS FARGO & CO NEW 4.97%/VAR 04/23/2029 | 4.97% | 2325000 | 4/23/2029 | 2368278 |
|  | WELLS FARGO & CO | WELLS FARGO & CO NEW 4.9%/VAR 01/24/2028 | 4.90% | 1105000 | 1/24/2028 | 1114302 |
|  | WELLS FARGO & CO | WELLS FARGO & CO NEW 4.1% 06/03/2026 | 4.10% | 500000 | 6/3/2026 | 500046 |
|  | WELLS FARGO & CO | WELLS FARGO & CO NEW 4.3% 07/22/2027 | 4.30% | 1275000 | 7/22/2027 | 1279970 |
|  | WELLS FARGO & CO | WELLS FARGO & CO NEW 2.572%/VAR 02/11/2031 | 2.57% | 550000 | 2/11/2031 | 513692 |
|  | WELLS FARGO & CO | WELLS FARGO & CO NEW 2.393%/VAR 06/02/2028 | 2.39% | 800000 | 6/2/2028 | 781675 |
|  | WELLS FARGO & CO | WELLS FARGO & CO NEW 4.9%/VAR 01/24/2028 | 4.90% | 225000 | 1/24/2028 | 226894 |
|  | WELLS FARGO & CO | WELLS FARGO & CO NEW 5.198%/VAR 01/23/2030 | 5.20% | 575000 | 1/23/2030 | 592164 |
|  | WELLS FARGO & CO | WELLS FARGO & CO NEW 4.897%/VAR 07/25/2033 | 4.90% | 600000 | 7/25/2033 | 609333 |
|  | WELLS FARGO & CO | WELLS FARGO & CO NEW 4.808%/VAR 07/25/2028 | 4.81% | 225000 | 7/25/2028 | 227519 |
|  | WELLS FARGO & CO | WELLS FARGO & CO NEW 2.393%/VAR 06/02/2028 | 2.39% | 250000 | 6/2/2028 | 244273 |
|  | WELLS FARGO & CO | WELLS FARGO & CO NEW 4.1% 06/03/2026 | 4.10% | 445000 | 6/3/2026 | 445041 |
|  | WESTERN UNION CO/THE | WESTERN UN CO 1.35% 03/15/2026 | 1.35% | 2113000 | 3/15/2026 | 2099688 |
|  | WHEELS FLEET LEASE FUNDING 1 LLC | WHEELS FLEET LEASE FUNDING 1 LLC 25 3A-C 4.79% 09/18/2040 | 4.79% | 440000 | 9/18/2040 | 439951 |
|  | WHEELS FLEET LEASE FUNDING 1 LLC | WHEELS FLEET LEASE FUNDING 1 LLC 25-3A A1 0% 09/18/2040 | 4.08% | 325000 | 9/18/2040 | 325902 |
|  | WILLIAMS COS INC | WILLIAMS COS INC 4.625% 06/30/2030 | 4.63% | 840000 | 6/30/2030 | 848221 |
|  | WILLIAMS COS INC | WILLIAMS COS INC 4.8% 11/15/2029 | 4.80% | 505000 | 11/15/2029 | 514628 |
|  | WILLIAMS COS INC | WILLIAMS COS INC 5.4% 03/02/2026 | 5.40% | 1610000 | 3/2/2026 | 1613507 |
|  | WINGSPIRE EQUIP FIN 2025-1 LLC | WINGSPIRE EQUIPMENT FINANCE 2025-1A C LLC 4.76% 09/20/2033 | 4.76% | 100000 | 9/20/2033 | 100211 |
|  | WINGSPIRE EQUIP FIN 2025-1 LLC | WINGSPIRE EQUIP FIN 2025-1A A2 LLC 4.33% 09/20/2033 | 4.33% | 100000 | 9/20/2033 | 100167 |
|  | WOODSIDE FIN LTD | WOODSIDE FIN LTD 3.7% 09/15/2026 144A | 3.70% | 356000 | 9/15/2026 | 354637 |
|  | WORKDAY INC | WORKDAY INC 3.5% 04/01/2027 | 3.50% | 435000 | 4/1/2027 | 432371 |
|  | WORLD OMNI SELECT AUTO TR 2023-A | WORLD OMNI SELECT AUTO TR 2023-A 5.87% 08/15/2028 | 5.87% | 210000 | 8/15/2028 | 211136 |
|  | ZAXBY'S FUNDING LLC | ZAXBY'S FUNDING LLC 21-1A A2 3.238% 07/30/2051 144 | 3.24% | 943138 | 7/30/2051 | 890331 |
|  | FOREIGN GOVERNMENT DEBT SECURITIES |  |  |  |  | 1967625 |
|  | REPUBLIC OF COLOMBIA | COLOMBIA REPUBLIC OF 7.37 | 7.38% | 525000 | 4/25/2030 | 554400 |
|  | REPUBLIC OF COLOMBIA | COLOMBIA REPUBLIC OF 7.75 | 7.75% | 650000 | 11/7/2036 | 677463 |
|  | REPUBLIC OF COLOMBIA | COLOMBIA REPUBLIC OF 7.37 | 7.38% | 450000 | 4/25/2030 | 475200 |
|  | REPUBLIC OF COLOMBIA | COLOMBIA REPUBLIC OF 7.75 | 7.75% | 250000 | 11/7/2036 | 260562 |
|  | MUTUAL AND REGISTERED INVESTMENT FUNDS |  |  |  |  | 380513736 |
|  | VANGUARD TREASURY MONEY MARKET INVESTOR | VANGUARD TREASURY MONEY MARKET |  |  |  | 9231764 |
|  | DREYFUS TRS PRIME;INST | DREYFUS TRS PRIME;INST |  |  |  | 48743946 |
|  | T ROWE PRICE GOVERNMENT RESERVE INVESTMENT FUND | T ROWE PRICE GOVERNMENT RESERVE INVESTMENT FUND |  |  |  | 762542 |

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | AMERICAN FUNDS EUROPACIFIC GROWTH R6 | EURO PACIFIC GROWTH FUND |  |  |  | 111706830 |
| \* | FIDELITY TREASURY PORTFOLIO | FIDELITY INVESTMENTS MONEY MONEY PORTFOLIO |  |  |  | 24885330 |
|  | VANG TREASURY MM | VANG TREASURY MONEY MARKET PORTFOLIO |  |  |  | 185183324 |
|  | PREFERRED STOCKS |  |  |  |  | 6697998 |
|  | RAPPI INC | RAPPI INC SER E PFD PERP PP |  | 3635 |  | 64594 |
|  | WAYMO LLC | WAYMO LLC SER A2 0%PC PERP P/P |  | 1674 |  | 125500 |
|  | CITIGROUP | CITIGROUP CAP XIII 7.875%/VAR PFD PAR=25 |  | 186480 |  | 5629830 |
|  | SILA NANOTECHNOLOGIES INC | SILA NANOTECHNOLOGIES INC SER F 0% PC PP |  | 15451 |  | 336906 |
|  | DATABRICKS INC | DATABRICKS INC SER G PC PP |  | 15675 |  | 357770 |
|  | NURO INC/CA | NURO INC/CA SER C PC PP |  | 15675 |  | 183398 |
|  | U.S. GOVERNMENT DEBT SECURITIES |  |  |  |  | 519432904 |
|  | ANGEL OAK MORTGAGE TRUST 2022-6 | ANGEL OAK MORTGAGE TRUST 2022-6 4.3% 07/25/2067 14 | 4.30% | 1390162 | 7/25/2067 | 1382227 |
|  | ANGEL OAK MORTGAGE TRUST 2023-3 | ANGEL OAK MORTGAGE TRUST 2023-3 4.8% 09/26/2067 14 | 4.80% | 1210309 | 9/26/2067 | 1206731 |
|  | ANGEL OAK MORTGAGE TRUST LLC | ANGEL OAK MORTGAGE TRUST LLC VAR 01/25/2067 144A | 3.35% | 901542 | 1/25/2067 | 869637 |
|  | ANGEL OAK MTG TR 2021-6 | ANGEL OAK MTG TR 2021-6 1.581% 09/25/2066 144A | 1.58% | 518738 | 9/25/2066 | 445392 |
|  | ANGEL OAK MTG TR 2022-1 | ANGEL OAK MTG TR 2022-1 VAR 12/25/2066 144A | 2.88% | 360767 | 12/25/2066 | 344162 |
|  | ANGEL OAK MTG TR 2025-5 | ANGEL OAK MTG TR 2025-5 5.573% 04/25/2070 144A | 5.57% | 1388452 | 4/25/2070 | 1401451 |
|  | BANK 2024-BNK47 | BANK 2024-BNK47 A1 5.523% 06/15/2057 | 5.52% | 119690 | 6/15/2057 | 122184 |
|  | BANK5 2024-5YR11 | BANK5 2024-5YR11 AS 6.139% 11/15/2057 | 6.14% | 485000 | 11/15/2057 | 507399 |
|  | BANK5 2024-5YR12 | BANK5 2024-5YR12 AS VAR 12/15/2057 | 6.12% | 350000 | 12/15/2057 | 366191 |
|  | BANK5 2024-5YR12 | BANK5 2024-5YR12 5.902% 12/15/2057 | 5.90% | 830000 | 12/15/2057 | 873269 |
|  | BANK5 2024-5YR9 | BANK5 2024-5YR9 4.8894% 08/15/2057 | 4.89% | 533000 | 8/15/2057 | 538704 |
|  | BENCHMARK 2023-B39 C MTG TR | BENCHMARK 2023-B39 C MTG TR 6.03532% 07/15/2056 | 6.04% | 117142 | 7/15/2056 | 118502 |
|  | BENCHMARK 2024-V11 MTG TR | BENCHMARK 2024-V11 AM MTG TR 6.201% 11/15/2057 | 6.20% | 415000 | 11/15/2057 | 434000 |
|  | BENCHMARK 2024-V6 MTG TR | BENCHMARK 2024-V6 MTG TR 5.56775% 03/15/2057 | 5.57% | 79984 | 3/15/2057 | 80581 |
|  | BENCHMARK 2025-B41 MTG TR | BENCHMARK 2025-B41 MTG TR 4.40064% 07/15/2068 | 4.40% | 119392 | 7/15/2068 | 119837 |
|  | BINOM SECURITIZATION TRUST 2021-INV1 | BINOM SECURITIZATION TRUST 2021-INV1 A3 2.625% 06/25/2026 | 2.63% | 102638 | 6/25/2056 | 96183 |
|  | BINOM SECURITIZATION TRUST 2021-INV1 | BINOM SECURITIZATION TRUST 2021-INV1 A2 2.37% 06/25/2026 | 2.37% | 330723 | 6/25/2056 | 309375 |
|  | BMARK 2024-V8 | BMARK 2024-V8 5.514% 07/15/2057 | 5.51% | 273980 | 7/15/2057 | 278819 |
|  | BMO 2024-5C4 MTG TR | BMO 2024-5C4 MTG TR VAR 05/15/2057 | 6.53% | 670000 | 5/15/2057 | 711166 |
|  | BMO 2024-C8 A1 | BMO 2024-C8 A1 5.54224% 03/15/2057 | 5.54% | 178828 | 3/15/2057 | 180631 |
|  | BX 2025-VOLT | BX 2025-VOLT B TSFR1M+210 12/15/2044 144A | 5.85% | 910000 | 12/15/2044 | 912828 |
|  | BX 2025-VOLT | BX 2025-VOLT A VAR 12/15/2044 144A | 5.45% | 670000 | 12/15/2044 | 670417 |
|  | BX COML MTG TR 2024-GPA3 | BX COML MTG TR 2024-GPA3 TSFR1M+164.233 12/15/2039 | 5.39% | 405343 | 12/15/2039 | 406221 |
|  | BX COML MTG TR 2024-MDHS | BX COML MTG TR 2024-MDHS TSFR1M+184.1 05/15/2041 1 | 5.59% | 577192 | 5/15/2041 | 578441 |
|  | BX COML MTG TR 2024-MDHS | BX COML MTG TR 2024-MDHS 6.8415% 05/15/2041 144A | 5.39% | 577192 | 5/15/2041 | 578083 |
|  | BX COML MTG TR 2024-SLCT | BX COML MTG TR 2024-SLCT TSFR1M+239.195 01/15/2042 | 6.14% | 760000 | 1/15/2042 | 758781 |
|  | BX COML MTG TR 2024-SLCT | BX COMMERCIAL MORTGAGE TRUST 2024-SLCT TSFR1M+ 01/ | 5.54% | 295000 | 1/15/2042 | 294816 |
|  | BX TRUST 2023-LIFE | BX TRUST 2023-LIFE 5.3908% 02/15/2028 144A | 5.39% | 1685000 | 2/15/2028 | 1655658 |
|  | BX TRUST 2025-GW | BX TRUST 2025-GW A TSFR1M+160 07/15/2042 144A | 5.35% | 395000 | 7/15/2042 | 395740 |
|  | CALIFORNIA ST | CA ST 7.35% 11/1/39 | 7.35% | 175000 | 11/1/2039 | 204528 |
|  | CALIFORNIA ST | CA ST 7.3% 10/01/39 | 7.30% | 600000 | 10/1/2039 | 698264 |
|  | CALIFORNIA ST | CA ST 7.55% 4/1/39 | 7.55% | 250000 | 4/1/2039 | 303394 |
|  | CALIFORNIA ST | CA ST 7.3% 10/01/39 | 7.30% | 550000 | 10/1/2039 | 640075 |
|  | CALIFORNIA ST | CA ST 7.5% 4/1/34 | 7.50% | 750000 | 4/1/2034 | 874994 |
|  | CD 2017-CD6 MTG TR | CD 2017-CD6 MTG TR 2017-CD6 A5 3.456% 11/13/2050 | 3.46% | 1526462 | 11/13/2050 | 1507617 |
|  | CENT TRUST 2025-CITY | CENT TRUST 2025-CITY A VAR 07/10/2040 144A | 4.92% | 690000 | 7/10/2040 | 698963 |
|  | CIM TR 2021-R6 | CIM TR 2021-R6 1.425% 07/25/2061 144A | 1.43% | 107175 | 7/25/2061 | 99449 |
|  | CITIGROUP COML MTG TR 2017-P7 | CGCMT 2017-P7 A4 3.712% 04/01/2050 | 3.71% | 1544000 | 4/14/2050 | 1530723 |
|  | COLT 2024-6 MORTGAGE LOAN TRUST | COLT 2024-6 MORTGAGE LOAN TRUST 5.644% 11/25/2069 | 5.64% | 743868 | 11/25/2069 | 749533 |
|  | COLT 2024-INV4 MTG LN TR | COLT 2024-INV4 A3 MORTGAGE LOAN TRUST VAR 05/25/2069 | 6.11% | 740265 | 5/25/2069 | 749314 |

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | COLT 2025-10 MTG LN TR | COLT 2025-10 A1F MTG LN TR VAR 10/25/2070 144A | 5.07% | 741298 | 10/25/2070 | 740670 |
|  | COLT 2025-4 A2 | COLT 2025-4 A2 A1 VAR 04/25/2070 144A | 5.79% | 287652 | 4/25/2070 | 291848 |
|  | COMM 2014-CCRE15 MTG TR VAR 02/10/2047 | COMM 2014-CCRE15 MTG TR VAR 02/10/2047 | 3.88% | 205436 | 2/10/2047 | 202069 |
|  | CONNECTICUT AVE SECS TR 2025-R06 | CONNECTICUT AVE SECS TR 2025-R06 SOFR30A+95 09/25/2045 | 4.82% | 388622 | 9/25/2045 | 388621 |
|  | CONNECTICUT AVENUE SECURITIES TRUST 2024 | CONNECTICUT AVENUE SECURITIES TRUST 2024-R06 1A1 S | 5.02% | 1156296 | 9/25/2044 | 1159962 |
|  | CONNECTICUT AVENUE SECURITIES TRUST 2025 | CONNECTICUT AVENUE SECURITIES TRUST 2025-R03 SOFR3 | 5.32% | 247023 | 3/25/2045 | 248300 |
|  | CSAIL 2020-C19 COMMERCIAL MORTGAGE TRUST | CSAIL 2020-C19 COMMERCIAL MORTGAGE TRUST 1.2955% 0 | 1.30% | 141167 | 3/15/2053 | 129312 |
|  | DOLP TR 2021-NYC | DOLP TR 2021-NYC 2.956% 05/10/2041 144A | 2.96% | 875000 | 5/10/2041 | 786751 |
|  | EFFICIENT POWER CONVERSION CORP | FHLG 30YR 6% 05/01/2055#QY2115 | 6.00% | 37790 | 5/1/2055 | 39074 |
|  | EFMT 2024-INV2 | EFMT 2024-INV2 5.289% 10/25/2069 144A | 5.29% | 352955 | 10/25/2069 | 353941 |
|  | EFMT 2024-INV2 | EFMT 2024-INV2 5.035% 10/25/2069 144A | 5.04% | 615520 | 10/25/2069 | 616873 |
|  | EFMT 2025-INV2 | EFMT 2025-INV2 5.387% 05/26/2070 144A | 5.39% | 283356 | 5/26/2070 | 285642 |
|  | EFMT 2025-INV4 | EFMT 2025-INV4 A1F VAR 10/25/2070 144A | 5.07% | 289457 | 10/25/2070 | 289221 |
|  | EFMT 2025-INV5 | EFMT 2025-INV5 A1 5.077% 12/01/2070 144A | 5.08% | 450000 | 12/25/2070 | 450753 |
|  | EFMT 2025-NQM5 | EFMT 2025-NQM5 A1 VAR 11/25/2070 144A | 5.03% | 117897 | 11/25/2070 | 117967 |
|  | EFMT 2025-NQM6 | EFMT 2025-NQM6 A1 VAR 12/25/2070 144A | 5.00% | 595000 | 12/25/2070 | 595275 |
|  | ELLINGTON FINANCIAL MORTGAGE TRUST 2021- | ELLINGTON FINANCIAL MORTGAGE TRUST 2021-3 A3 1.55% | 1.55% | 557173 | 9/25/2066 | 472085 |
|  | FANNIE MAE | FANNIEMAE ARM 5.094% 06/01/2055#BM7753 | 5.09% | 1243129 | 6/1/2055 | 1261710 |
|  | FANNIE MAE OR FREDDIE MA | FANNIE MAE OR 30YR 5.5% 09/01/2055#CC1020 | 5.50% | 1200636 | 9/1/2055 | 1225640 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 5.50% 1/35 #G01749 | 5.50% | 43387 | 1/1/2035 | 45023 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 6.50% 12/31 #G01768 | 6.50% | 3715 | 12/1/2031 | 3865 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 20YR 6.5% 01/01/2027#G30317 | 6.50% | 2768 | 1/1/2027 | 2779 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 20YR 4.5% 07/01/2032#G30689 | 4.50% | 106212 | 7/1/2032 | 106918 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 6.50% 8/37 #A64639 | 6.50% | 5324 | 8/1/2037 | 5699 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 6.00% 6/35 #G02382 | 6.00% | 11045 | 6/1/2035 | 11542 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 05/01/2041#G06447 | 4.50% | 119554 | 5/1/2041 | 119878 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 09/01/2041#G07568 | 4.50% | 150963 | 9/1/2041 | 151312 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 11/01/2043#G07598 | 4.50% | 92557 | 11/1/2043 | 92790 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 08/01/2044#G07892 | 4.50% | 196262 | 8/1/2044 | 196108 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 20YR 4.5% 12/01/2030#C91349 | 4.50% | 35363 | 12/1/2030 | 35611 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 6.50% 9/37 #H09069 | 6.50% | 6443 | 9/1/2037 | 6817 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 6.50% 9/37 #H09070 | 6.50% | 2915 | 9/1/2037 | 3092 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 6.00% 6/38 #H09203 | 6.00% | 2753 | 6/1/2038 | 2878 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 5.5% 06/01/2037#H09204 | 5.50% | 3088 | 6/1/2037 | 3176 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 10/01/2040#A94663 | 4.50% | 12688 | 10/1/2040 | 12718 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG ARM 2.88% 11/01/2044#2B3527 | 6.10% | 123616 | 11/1/2044 | 127519 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG ARM 0% 07/01/2044#2B2791 | 6.26% | 22505 | 7/1/2044 | 23222 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 20YR 4% 04/01/2034#ZS9057 | 4.00% | 141005 | 4/1/2034 | 141579 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 2% 11/01/2050#SD0513 | 2.00% | 3297957 | 11/1/2050 | 2719021 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3% 05/01/2052#SD1080 | 3.00% | 593727 | 5/1/2052 | 530316 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3.5% 06/01/2052#SD1933 | 3.50% | 2573171 | 6/1/2052 | 2394311 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3.5% 07/01/2052#SD3139 | 3.50% | 1184516 | 7/1/2052 | 1096999 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 01/01/2054#SD6706 | 4.50% | 2145763 | 1/1/2054 | 2101730 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 2.5% 11/01/2050#SD7530 | 2.50% | 10878518 | 11/1/2050 | 9380907 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3.5% 05/01/2052#SD8214 | 3.50% | 1830915 | 5/1/2052 | 1695639 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4% 09/01/2052#SD8244 | 4.00% | 5354094 | 9/1/2052 | 5106514 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 02/01/2055#SD8504 | 4.50% | 630348 | 2/1/2055 | 615640 |
|  | FED HOME LOAN MTG CORP - GOLD | FED HOME LOAN MTG CORP - GOLD SOFR30A+72.448 09/15 | 4.71% | 439891 | 9/15/2043 | 436145 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 04/01/2047#V83157 | 4.50% | 169345 | 4/1/2047 | 168716 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4% 03/01/2046#Q39499 | 4.00% | 994351 | 3/1/2046 | 965367 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 05/01/2042#G60342 | 4.50% | 233562 | 5/1/2042 | 234140 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 03/47#G61030 | 4.50% | 305473 | 3/1/2047 | 305078 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 03/47#G61080 | 4.50% | 1012683 | 3/1/2047 | 1014621 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3.5% 08/01/2052#QE7119 | 3.50% | 2637405 | 8/1/2052 | 2454081 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3.5% 07/01/2052#QE7330 | 3.50% | 2662233 | 7/1/2052 | 2477183 |

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 2% 07/01/2050#RA2958 | 2.00% | 1198834 | 7/1/2050 | 988386 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 2% 07/01/2050#RA3053 | 2.00% | 1388349 | 7/1/2050 | 1144633 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 2% 12/01/2050#RA4119 | 2.00% | 4720919 | 12/1/2050 | 3898092 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3.5% 04/01/2052#RA7063 | 3.50% | 3832128 | 4/1/2052 | 3548994 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 6% 08/01/2055#RJ4695 | 6.00% | 2249211 | 8/1/2055 | 2322519 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 5% 10/01/2054#RJ2660 | 5.00% | 757842 | 10/1/2054 | 760255 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 5% 06/01/2055#SL3158 | 5.00% | 26063 | 6/1/2055 | 26103 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 5.5% 07/01/2055#SL1856 | 5.50% | 568143 | 7/1/2055 | 578200 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 6% 02/01/2055#SL0205 | 6.00% | 259128 | 2/1/2055 | 267077 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 5.5% 04/01/2055#SL0876 | 5.50% | 1125090 | 4/1/2055 | 1145251 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 6% 06/01/2055#QY4616 | 6.00% | 148864 | 6/1/2055 | 153518 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 6% 12/01/2054#QX1253 | 6.00% | 32291 | 12/1/2054 | 33301 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 6.5% 12/01/2054#QX0557 | 6.50% | 46029 | 12/1/2054 | 47785 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 2.5% 01/01/2052#RA6623 | 2.50% | 892387 | 1/1/2052 | 766746 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4% 12/49#RA1906 | 4.00% | 27930 | 12/1/2049 | 26909 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 6.5% 09/01/2054#QJ5643 | 6.50% | 83518 | 9/1/2054 | 86890 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 7.5% 06/38#G62031 | 7.50% | 17785 | 6/1/2038 | 18877 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 7% 03/39#G62030 | 7.00% | 19321 | 3/1/2039 | 20501 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 02/01/2053#SD8298 | 4.50% | 361964 | 2/1/2053 | 354988 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 09/01/2052#SD8245 | 4.50% | 2258645 | 9/1/2052 | 2215825 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3% 06/01/2052#SD8220 | 3.00% | 1079976 | 6/1/2052 | 957882 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 2.5% 05/01/2052#SD8212 | 2.50% | 464074 | 5/1/2052 | 394240 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 6% 10/01/2054#SD7360 | 6.00% | 468498 | 10/1/2054 | 484939 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 6% 10/01/2054#SD6767 | 6.00% | 574496 | 10/1/2054 | 593669 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 15YR 3% 11/01/2034#SB0222 | 3.00% | 64003 | 11/1/2034 | 62360 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 15YR 3% 01/01/2033#ZS7930 | 3.00% | 190898 | 1/1/2033 | 186313 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 5% 12/01/2041#ZS3941 | 5.00% | 29433 | 12/1/2041 | 30015 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 6.0% 09/01/2034#A26586 | 6.00% | 1008 | 9/1/2034 | 1053 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 5.00% 11/33 #A15908 | 5.00% | 1294 | 11/1/2033 | 1319 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 5.00% 11/33 #A15907 | 5.00% | 1563 | 11/1/2033 | 1593 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 5.00% 11/33 #A15852 | 5.00% | 909 | 11/1/2033 | 925 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 5.0% 07/01/2040#A93101 | 5.00% | 9082 | 7/1/2040 | 9274 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 5% 06/01/2040#A92485 | 5.00% | 12770 | 6/1/2040 | 13040 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 5% 04/01/2040#A91947 | 5.00% | 1361 | 4/1/2040 | 1390 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 5% 07/01/2033# | 5.00% | 154 | 7/1/2033 | 156 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 7% 11/01/2030# | 7.00% | 610 | 11/1/2030 | 641 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 6% 08/01/2038#A81039 | 6.00% | 4437 | 8/1/2038 | 4694 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 5.0% 08/01/2035#G08072 | 5.00% | 15408 | 8/1/2035 | 15720 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 5.50% 5/40 #G06209 | 5.50% | 6222 | 5/1/2040 | 6469 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 5.50% 1/40 #G06021 | 5.50% | 21094 | 1/1/2040 | 21934 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 5.50% 12/39 #G06020 | 5.50% | 11645 | 12/1/2039 | 12110 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 5.00% 8/40 #G05958 | 5.00% | 52864 | 8/1/2040 | 53981 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 5.00% 8/40 #G05955 | 5.00% | 13551 | 8/1/2040 | 13837 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 5.50% 2/40 #G05923 | 5.50% | 39770 | 2/1/2040 | 41357 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 5.50% 10/38 #G04814 | 5.50% | 13536 | 10/1/2038 | 14076 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 6.00% 8/38 #G04653 | 6.00% | 5253 | 8/1/2038 | 5563 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 6.00% 12/36 #G02462 | 6.00% | 15467 | 12/1/2036 | 16332 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 5.00% 12/35 #G01974 | 5.00% | 542 | 12/1/2035 | 553 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 6.00% 9/35 #G01899 | 6.00% | 6336 | 9/1/2035 | 6648 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 5.00% 11/33 #D86309 | 5.00% | 2078 | 11/1/2033 | 2117 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 6.00% 10/32 #C72128 | 6.00% | 147 | 10/1/2032 | 151 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 7.00% 6/32 #C68248 | 7.00% | 397 | 6/1/2032 | 421 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 7.00% 6/32 #C68205 | 7.00% | 265 | 6/1/2032 | 282 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 7% 04/01/2032# | 7.00% | 119 | 4/1/2032 | 125 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 6.00% 2/35 #G01777 | 6.00% | 18612 | 2/1/2035 | 19503 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3% 03/01/2053#SL2622 | 3.00% | 858398 | 3/1/2053 | 761086 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3.5% 07/01/2052#RA7656 | 3.50% | 4789908 | 7/1/2052 | 4456964 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3.5% 04/01/2052#RA7063 | 3.50% | 2847246 | 4/1/2052 | 2636879 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 2% 12/01/2050#RA4119 | 2.00% | 1317881 | 12/1/2050 | 1088182 |

---

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 2% 09/01/2050#RA3454 | 2.00% | 511771 | 9/1/2050 | 420973 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 2% 08/01/2050#RA3404 | 2.00% | 4350486 | 8/1/2050 | 3593583 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 2% 07/01/2050#RA3053 | 2.00% | 499902 | 7/1/2050 | 412147 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3.5% 05/01/2052#QE2008 | 3.50% | 2552566 | 5/1/2052 | 2381520 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3.5% 05/01/2052#QE2001 | 3.50% | 443421 | 5/1/2052 | 410659 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3.5% 04/01/2052#QE0768 | 3.50% | 680942 | 4/1/2052 | 630631 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4% 11/01/2047#G61220 | 4.00% | 126836 | 11/1/2047 | 123138 |
|  | FED HOME LOAN MTG CORP - GOLD | FEDERAL HOME LN MTG 30YR 4.5% 10/46#CC2046 | 4.50% | 72528 | 10/1/2042 | 72681 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 11/01/2045#G60480 | 4.50% | 116657 | 11/1/2045 | 116537 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 02/45#G60034 | 4.50% | 84109 | 2/1/2045 | 84035 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 02/01/2055#SD8504 | 4.50% | 414174 | 2/1/2055 | 404510 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 12/01/2052#SD8275 | 4.50% | 1027190 | 12/1/2052 | 1007716 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 11/01/2052#SD8266 | 4.50% | 743157 | 11/1/2052 | 729068 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4% 09/01/2052#SD8244 | 4.00% | 5025513 | 9/1/2052 | 4793127 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4% 10/01/2052#SD8256 | 4.00% | 6540739 | 10/1/2052 | 6234199 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3.5% 05/01/2052#SD8214 | 3.50% | 2485145 | 5/1/2052 | 2301531 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3.5% 06/52#SD8221 | 3.50% | 1541681 | 6/1/2052 | 1427775 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 2.5% 11/01/2050#SD7530 | 2.50% | 1329321 | 11/1/2050 | 1146317 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 01/01/2054#SD6706 | 4.50% | 989856 | 1/1/2054 | 969543 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3.5% 07/01/2052#SD3139 | 3.50% | 834155 | 7/1/2052 | 772524 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 3.5% 08/01/2052#SD1546 | 3.50% | 831742 | 8/1/2052 | 774968 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 4.5% 7/40 #A92792 | 4.50% | 44630 | 7/1/2040 | 44767 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 6.50% 11/37 #H09117 | 6.50% | 5065 | 11/1/2037 | 5363 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 6.50% 9/37 #H09070 | 6.50% | 2150 | 9/1/2037 | 2280 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 6.50% 9/37 #H09069 | 6.50% | 5411 | 9/1/2037 | 5725 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 20YR 3.5% 10/01/2035#C91853 | 3.50% | 110208 | 10/1/2035 | 108415 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 20YR 4.0% 10/01/2031#C91402 | 4.00% | 40385 | 10/1/2031 | 40277 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 20YR 6.5% 09/01/2027#C91109 | 6.50% | 11332 | 9/1/2027 | 11456 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 20YR 6.5% 12/01/2026#C91008 | 6.50% | 288 | 12/1/2026 | 290 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 15YR 4.5% 06/01/2026#G14694 | 4.50% | 77 | 6/1/2026 | 77 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 08/01/2044#G07943 | 4.50% | 177158 | 8/1/2044 | 177028 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 12/01/2043#G07612 | 4.50% | 33834 | 12/1/2043 | 33820 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 07/01/2041#G07504 | 4.50% | 28933 | 7/1/2041 | 29005 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 03/01/2042#G07107 | 4.50% | 62016 | 3/1/2042 | 62170 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 03/01/2044#G07686 | 4.50% | 47285 | 3/1/2044 | 47240 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 30YR 4.5% 05/01/2041#G06447 | 4.50% | 103287 | 5/1/2041 | 103567 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 6.00% 2/35 #G01777 | 6.00% | 84302 | 2/1/2035 | 88337 |
|  | FED HOME LOAN MTG CORP - GOLD | FHLG 5.50% 1/35 #G01749 | 5.50% | 16565 | 1/1/2035 | 17190 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT 3.5% 05/15/2043 | 3.50% | 1521189 | 5/15/2043 | 1438329 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT X1 CSTR 01/25/2031 | 0.95% | 8427320 | 1/25/2031 | 304467 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT VAR 03/25/2026 | 1.31% | 515739 | 3/25/2026 | 563 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT VAR 05/25/2026 | 1.32% | 194497 | 5/25/2026 | 382 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT CSTR 04/25/2027 | 0.65% | 2334772 | 4/25/2027 | 16916 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT CSTR 06/25/2027 | 0.72% | 1991010 | 6/25/2027 | 15492 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT CSTR 07/25/2027 | 0.56% | 5399449 | 7/25/2027 | 37323 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT VAR/.068895% 10/25/2033 | 0.07% | 40048933 | 10/25/2033 | 269513 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT X1 CSTR 01/25/2030 | 1.51% | 4876271 | 1/25/2030 | 252936 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT 2.5% 04/25/2050 | 2.50% | 2433239 | 4/25/2050 | 2133239 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FHR 2456 CJ 6.5% 6/32 | 6.50% | 19758 | 6/15/2032 | 20644 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FSPC T-48 1A CSTR 7/33 | 4.31% | 26741 | 7/25/2033 | 25903 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FSPC T-54 3A 7% 2/43 | 7.00% | 147232 | 2/25/2043 | 155603 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT 5.0% 02/15/2035 | 5.00% | 297174 | 2/15/2035 | 301174 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT 4.6% 06/25/2030 | 4.60% | 493826 | 6/25/2030 | 502507 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT 5.5% 04/15/2026 | 5.50% | 2664 | 4/15/2026 | 2663 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FSPC T-54 3A 7% 2/43 | 7.00% | 69882 | 2/25/2043 | 73855 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT 2.5% 04/25/2050 | 2.50% | 2045647 | 4/25/2050 | 1793434 |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT VAR 03/15/2044 | 4.50% | 145617 | 3/15/2044 | 147014 |

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | FEDERAL HOME LN MTG MLT CTF GT | FEDERAL HOME LN MTG MLT CTF GT VAR 12/15/2043 | 4.50% | 50637 | 12/15/2043 | 50455 |
|  | FEDERAL HOME LOAN BANKS | FHLB 30YR 4.5% 12/01/2055#RJ5573 | 4.50% | 925000 | 12/1/2055 | 905729 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FEDERAL NAT MTG ASN GTD REM PA SOFR30A+63.448 12/25/2043 | 4.51% | 424099 | 12/25/2043 | 418147 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FEDERAL NAT MTG ASN GTD REM PA 7% 10/25/2041 | 7.00% | 8271 | 10/25/2041 | 8510 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FNW 2002-W6 2A1 + 06/42 | 7.00% | 37455 | 6/25/2042 | 37235 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FNW 2004-W9 2A1 6.5% 2/44 | 6.50% | 8741 | 2/25/2044 | 8997 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FNW 2006-W1 1A1 6.5 12/45 | 6.50% | 7764 | 12/25/2045 | 7964 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FNW 2006-W1 1A4 8% 12/25/45 | 8.00% | 7512 | 12/25/2045 | 7836 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FEDERAL NATL MTG AS GTD RE PTT 2017-90 KA 3% 11/25/2047 | 3.00% | 180855 | 11/25/2047 | 172618 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FEDERAL NAT MTG ASN GTD REM PA 5.5% 07/25/2037 | 5.50% | 11924 | 7/25/2037 | 12092 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FEDERAL NAT MTG ASN GTD REM PA 6% 04/25/2037 | 6.00% | 28408 | 4/25/2037 | 29429 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FNW 2006-W1 1A1 6.5 12/45 | 6.50% | 28673 | 12/25/2045 | 29414 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FNR 2002-33 A1 7% 6/32 | 7.00% | 23149 | 6/25/2032 | 23620 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FEDERAL NAT MTG ASN GTD REM PA 7% 10/25/2041 | 7.00% | 8665 | 10/25/2041 | 8915 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FNW 2001-W3 A 7% 9/41 | 7.00% | 11626 | 9/25/2041 | 11556 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FEDERAL NAT MTG ASN GTD REM PA SOFR30A+90 10/25/2055 | 4.77% | 1899477 | 10/25/2055 | 1905757 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FEDERAL NAT MTG ASN GTD REM PA 25-107 FA SOFR30A+7 | 4.57% | 1024404 | 8/25/2052 | 1021123 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FEDERAL NAT MTG ASN GTD REM PA SOFR30A+ 02/25/2044 | 4.59% | 156657 | 2/25/2044 | 154971 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FEDERAL NAT MTG ASN GTD REM PA 1ML 12/25/2043 | 4.59% | 246473 | 12/25/2043 | 244243 |
|  | FEDERAL NAT MTG ASN GTD REM PA | FEDERAL NAT MTG ASN GTD REM PA 4.0% 02/25/2042 | 4.00% | 32585 | 2/25/2042 | 32527 |
|  | FEDERAL NAT MTG ASSN GTD MTG | FEDERAL NATL 30YR 6.5% 01/01/2055#DC9630 | 6.50% | 54104 | 1/1/2055 | 56172 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 4.817% 08/01/2053#841607 | 4.75% | 1380294 | 8/1/2053 | 1382485 |
|  | FNMA GTD MTG PASS THRU CTF | FNGT 01-T1 A1 7.5 10/40 | 7.50% | 9919 | 10/25/2040 | 10036 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 7.00% 8/37 #256851 | 7.00% | 10472 | 8/1/2037 | 11374 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 7.00% 10/37 #256939 | 7.00% | 5932 | 10/1/2037 | 6442 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.50% 2/38 #310048 | 6.50% | 43099 | 2/1/2038 | 45957 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 3/33 #555285 | 6.00% | 13632 | 3/1/2033 | 14186 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.5% #AL4165 | 4.50% | 205355 | 1/1/2031 | 206431 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.0% 10/01/2032#AL4778 | 4.00% | 92999 | 10/1/2032 | 92691 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 02/01/2041#AL5440 | 4.50% | 60740 | 2/1/2041 | 60905 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.5% #AL5861 | 4.50% | 28145 | 1/1/2031 | 28285 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 02/01/2045#AL7147 | 4.50% | 65991 | 2/1/2045 | 65836 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 2.938% 01/01/2045 #AL6377 | 6.40% | 70354 | 1/1/2045 | 72558 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 09/01/2046#AL9011 | 6.35% | 20938 | 9/1/2046 | 21665 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 04/01/2046#AL8267 | 6.57% | 84333 | 4/1/2046 | 87030 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 07/46#AL8816 | 4.50% | 335973 | 9/1/2045 | 335187 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 2.907% 09/01/2044#AT7040 | 6.33% | 19671 | 9/1/2044 | 20350 |
|  | FNMA GTD MTG PASS THRU CTF | FNR 2002-90 A1 6.5 6/42 | 6.50% | 53913 | 6/25/2042 | 55031 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 4.453% 10/01/2033#725693 | 6.35% | 20774 | 10/1/2033 | 21410 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.50% 3/35 #735417 | 6.50% | 24274 | 3/1/2035 | 25484 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.50% 3/35 #735570 | 6.50% | 14175 | 3/1/2035 | 14834 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 6/35 #745398 | 6.00% | 4006 | 6/1/2035 | 4169 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 06/01/2034#777133 | 6.29% | 15845 | 6/1/2034 | 16203 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 05/01/2035#825252 | 6.58% | 1335 | 5/1/2035 | 1370 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 4.84% 7/35 #832100 | 6.38% | 11455 | 7/1/2035 | 11783 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 5.04% 7/35 #834927 | 6.19% | 14427 | 7/1/2035 | 14696 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 4.90% 3/36 #879052 | 6.46% | 9063 | 3/1/2036 | 9318 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 03/01/2052#BF0045 | 4.50% | 302635 | 3/1/2052 | 296403 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 01/01/2047#BM1687 | 4.00% | 565712 | 1/1/2047 | 548569 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 10/01/2048#BM4873 | 6.36% | 378208 | 10/1/2048 | 388724 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 2.919% 12/01/2049#BM6181 | 2.75% | 2511989 | 12/1/2049 | 2437784 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 12/01/2049#BM6222 | 6.28% | 212104 | 12/1/2049 | 218397 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 01/01/2049#BM5402 | 6.29% | 358923 | 1/1/2049 | 368907 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 04/01/2049#BM5750 | 3.22% | 256634 | 4/1/2049 | 261726 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3.5% 04/01/2052#BU8931 | 3.50% | 726446 | 4/1/2052 | 672773 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 06/01/2052#BW0490 | 4.00% | 3687957 | 6/1/2052 | 3523184 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 03/01/2048#CA1390 | 4.50% | 254834 | 3/1/2048 | 253188 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2.5% 07/01/2050#CA6329 | 2.50% | 4975921 | 7/1/2050 | 4290902 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2.5% 07/01/2050#CA6401 | 2.50% | 2558765 | 7/1/2050 | 2199312 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2% 09/01/2050#CA6902 | 2.00% | 9799180 | 9/1/2050 | 8060621 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2% 01/01/2051#CA8473 | 2.00% | 2005884 | 1/1/2051 | 1653137 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2% 02/01/2051#CA8813 | 2.00% | 1988022 | 2/1/2051 | 1638416 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3% 05/01/2052#CB3576 | 3.00% | 5916424 | 5/1/2052 | 5303025 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 12/01/2054#FA1379 | 4.00% | 1590705 | 12/1/2054 | 1514166 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3.5% 01/01/2051#FM7599 | 3.50% | 4093039 | 1/1/2051 | 3822604 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2.5% 02/01/2051#FM8768 | 2.50% | 773116 | 2/1/2051 | 663785 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3.5% 06/01/2052#FS2140 | 3.50% | 7238186 | 6/1/2052 | 6735064 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 3% 09/01/2042#FS3743 | 3.00% | 3033514 | 9/1/2042 | 2800533 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6.00% 3/36 #888956 | 6.00% | 27730 | 3/1/2036 | 28578 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6.5% 04/01/2038#889474 | 6.50% | 23463 | 4/1/2038 | 24989 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.5% 08/01/2037#889633 | 5.50% | 207240 | 8/1/2037 | 214748 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.50% 7/38 #889782 | 6.50% | 17086 | 7/1/2038 | 18276 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 9/36 #995788 | 5.50% | 71879 | 9/1/2036 | 74182 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.0% 11/1/30 #AB1763 | 4.00% | 139374 | 11/1/2030 | 138927 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.5% 09/01/30#MA0511 | 4.50% | 148217 | 9/1/2030 | 149014 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.5% 01/01/2031#MA0634 | 4.50% | 64616 | 1/1/2031 | 64997 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.0% 04/01/34#MA1858 | 4.00% | 285786 | 4/1/2034 | 286235 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.0% 09/01/2034#MA2019 | 4.00% | 116118 | 9/1/2034 | 116119 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.0% 09/01/2034 #MA2055 | 4.00% | 227965 | 10/1/2034 | 227539 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.0% 07/01/2035#MA2366 | 4.00% | 169595 | 8/1/2035 | 168748 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4% 11/01/2035#MA2455 | 4.00% | 218828 | 11/1/2035 | 217736 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 3.5% 04/37#MA2962 | 3.50% | 195770 | 4/1/2037 | 191400 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3.5% 06/01/2052# | 3.50% | 1242330 | 6/1/2052 | 1150542 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3.5% 05/01/2052#MA4600 | 3.50% | 3410231 | 5/1/2052 | 3158268 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3.5% 07/01/2052#MA4654 | 3.50% | 1062483 | 7/1/2052 | 983982 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 08/01/2052#MA4700 | 4.00% | 2068808 | 8/1/2052 | 1970404 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 08/01/2052#MA4701 | 4.50% | 3028505 | 8/1/2052 | 2971090 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 09/01/2052#MA4732 | 4.00% | 2004214 | 9/1/2052 | 1911536 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 04/01/2053#MA4977 | 4.50% | 1039065 | 4/1/2053 | 1018717 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 02/01/2055#MA5612 | 4.50% | 7335370 | 2/1/2055 | 7164211 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.50% 8/39 #AD0130 | 6.50% | 76377 | 8/1/2039 | 81554 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 11/34 #AD0163 | 6.00% | 83290 | 11/1/2034 | 86967 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 9/38 #AD0198 | 5.50% | 60816 | 9/1/2038 | 63031 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 4/37 #AD0249 | 5.50% | 79316 | 4/1/2037 | 81903 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 12/39 #AD0494 | 5.50% | 17383 | 8/1/2037 | 17975 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 10/36 #AE0099 | 5.50% | 43481 | 10/1/2036 | 44937 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.5% 02/01/2038#AE0287 | 5.50% | 35623 | 2/1/2038 | 36580 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 12/01/2038#AE0557 | 6.92% | 88519 | 12/1/2038 | 91856 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.5% 04/01/2037#AE0601 | 5.50% | 52408 | 4/1/2037 | 54088 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.5% 05/01/2040#AE0549 | 5.50% | 7962 | 5/1/2040 | 8265 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 8/37 #AE0188 | 5.50% | 5603 | 8/1/2037 | 5800 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 2/38 #AE0105 | 5.50% | 5607 | 2/1/2038 | 5811 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 7/40 #AE0098 | 5.50% | 19330 | 2/1/2038 | 20030 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% #AE0801 | 6.00% | 36236 | 9/1/2039 | 38292 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.00% 6/40 #AD6438 | 5.00% | 36389 | 6/1/2040 | 37107 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 6/39 #AD0527 | 5.50% | 19757 | 6/1/2039 | 20515 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 10/38 #AD0220 | 6.00% | 8387 | 10/1/2038 | 8841 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 11/52#MA4805 | 4.50% | 1518749 | 11/1/2052 | 1489956 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5% 10/01/2052#MA4785 | 5.00% | 1081740 | 10/1/2052 | 1085860 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 09/01/2052#MA4732 | 4.00% | 2206991 | 9/1/2052 | 2104937 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 08/01/2052#MA4700 | 4.00% | 132001 | 8/1/2052 | 125722 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3.5% 01/01/2052# | 3.50% | 21679 | 1/1/2052 | 20158 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2% 10/01/2050#MA4158 | 2.00% | 27972 | 10/1/2050 | 22843 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 09/01/2047#MA3121 | 4.00% | 11170 | 9/1/2047 | 10783 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 12/01/2048#MA3537 | 4.50% | 38698 | 12/1/2048 | 38387 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 09/01/2048#MA3468 | 4.50% | 11916 | 9/1/2048 | 11828 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3.5% 12/01/45#MA2495 | 3.50% | 139636 | 1/1/2046 | 131545 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3.5% 12/01/2045#MA2471 | 3.50% | 18287 | 12/1/2045 | 17255 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6.0% 02/37#AB0299 | 6.00% | 360 | 2/1/2037 | 378 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 5/39 #995838 | 5.50% | 2613 | 5/1/2039 | 2712 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6.5% 12/01/2032#995629 | 6.50% | 7724 | 12/1/2032 | 8064 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 8/37 #995024 | 5.50% | 22653 | 8/1/2037 | 23456 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 8/37 #995023 | 5.50% | 1640 | 8/1/2037 | 1699 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 3/37 #995051 | 6.00% | 39209 | 3/1/2037 | 41218 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 4.92% 8/38 #983349 | 6.57% | 9596 | 8/1/2038 | 9979 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 08/01/2038#981434 | 6.58% | 6523 | 8/1/2038 | 6780 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 5.79% 12/37 #966635 | 5.92% | 21792 | 12/1/2037 | 22266 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM RFT1Y+188.1 84 5/38#963117 | 6.91% | 262 | 5/1/2038 | 272 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 1/38 #961181 | 5.50% | 21059 | 1/1/2038 | 21856 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM RFT1Y+183 8 4/38 #956679 | 6.83% | 13069 | 4/1/2038 | 13564 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6.5% 11/01/2037#954717 | 6.50% | 10176 | 11/1/2037 | 10889 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6.5% 11/01/2037#953390 | 6.50% | 256 | 11/1/2037 | 272 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 5.77% 8/37 #949782 | 6.28% | 1442 | 8/1/2037 | 1488 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 8/38 #929836 | 6.00% | 13577 | 8/1/2038 | 14369 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM RFT1Y+178.8 7 5/38 #908482 | 6.79% | 1263 | 5/1/2038 | 1308 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.50% 12/36 #905906 | 6.50% | 3195 | 12/1/2036 | 3406 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 5.92% 12/36 #905196 | 6.41% | 6428 | 12/1/2036 | 6680 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.50% 11/36 #902382 | 6.50% | 719 | 11/1/2036 | 767 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.50% 12/36 #901646 | 6.50% | 1259 | 12/1/2036 | 1335 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.50% 11/37 #899859 | 6.50% | 170 | 11/1/2037 | 181 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.5% 06/01/2040#890245 | 5.50% | 47875 | 6/1/2040 | 49669 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 10/38 #889983 | 6.00% | 4148 | 10/1/2038 | 4378 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.5% 08/01/2037#889633 | 5.50% | 6932 | 8/1/2037 | 7183 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 5/38 #889624 | 5.50% | 39237 | 5/1/2038 | 40750 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 5/38 #889579 | 6.00% | 1491 | 5/1/2038 | 1574 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 8/37 #889565 | 5.50% | 911 | 8/1/2037 | 943 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 6/38 #889588 | 5.50% | 4116 | 6/1/2038 | 4272 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 3/37 #889506 | 6.00% | 9142 | 3/1/2037 | 9615 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6% 02/01/2037#889396 | 6.00% | 4668 | 2/1/2037 | 4912 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.50% 10/35 #889341 | 6.50% | 12609 | 10/1/2035 | 13170 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 12/35 #888884 | 5.50% | 55249 | 12/1/2035 | 57251 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 1/37 #888688 | 5.50% | 23210 | 1/1/2037 | 24067 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 12/35 #888433 | 6.00% | 4917 | 12/1/2035 | 5159 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 3/37 #888268 | 6.00% | 10447 | 3/1/2037 | 11005 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.5% 01/01/2036#888223 | 5.50% | 21964 | 1/1/2036 | 22735 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 2/36 #888086 | 6.00% | 65814 | 2/1/2036 | 69234 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6.5% 08/01/2036#887303 | 6.50% | 776 | 8/1/2036 | 827 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.5% 10/01/2055#CC1228 | 5.50% | 691484 | 10/1/2055 | 705884 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5% 10/01/2055#CC1154 | 5.00% | 1041295 | 10/1/2055 | 1043959 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6.5% 06/01/2055#CC0603 | 6.50% | 440197 | 6/1/2055 | 459321 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.5% 10/01/2054#FS9533 | 5.50% | 922512 | 10/1/2054 | 942588 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5% 09/01/2053#FS8870 | 5.00% | 3116341 | 9/1/2053 | 3136002 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.5% 03/01/2054#FS7426 | 5.50% | 816560 | 3/1/2054 | 837393 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 03/01/2050#FS3871 | 4.50% | 242358 | 3/1/2050 | 241777 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 15YR 3% 02/01/2035# | 3.00% | 65159 | 2/1/2035 | 63385 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 04/01/2044#FM2162 | 4.00% | 177851 | 4/1/2044 | 173898 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6% 02/01/2049#FM1095 | 6.00% | 213930 | 2/1/2049 | 225310 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.5% 09/01/2054#CB9209 | 5.50% | 2538356 | 9/1/2054 | 2592013 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6% 07/01/2054#CB8858 | 6.00% | 11541 | 7/1/2054 | 11936 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6% 06/01/2054#CB8772 | 6.00% | 973824 | 6/1/2054 | 1007009 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6% 06/01/2054#CB8755 | 6.00% | 83267 | 6/1/2054 | 86117 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5% 08/01/2054#CB8976 | 5.00% | 592300 | 8/1/2054 | 596222 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5% 10/01/2053#CB7235 | 5.00% | 1577094 | 10/1/2053 | 1584086 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2.5% 01/01/2052# | 2.50% | 638860 | 1/1/2052 | 546119 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 15YR 3% 12/01/2034#CA4885 | 3.00% | 142208 | 12/1/2034 | 138337 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 12/01/2049#CA4823 | 4.00% | 8296 | 12/1/2049 | 7972 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 11/49#CA4571 | 4.00% | 25559 | 11/1/2049 | 24561 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 05/01/2049#CA3514 | 4.50% | 60115 | 5/1/2049 | 59727 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 10/01/2048#CA2483 | 4.50% | 94585 | 10/1/2048 | 94063 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2.5% 03/01/2052#BV4119 | 2.50% | 292765 | 3/1/2052 | 248710 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6.5% 02/01/2055#BU5727 | 6.50% | 157512 | 2/1/2055 | 164736 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 10/01/2048#BM5811 | 4.00% | 12580 | 10/1/2048 | 12140 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 15YR 3.5% 04/01/2034#BM5721 | 3.50% | 18316 | 4/1/2034 | 18102 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 10/01/2047#BM2003 | 4.00% | 45486 | 10/1/2047 | 43909 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3.5% 02/01/2048#BH9277 | 3.50% | 1006949 | 2/1/2048 | 942935 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5% 12/01/2055#DF7644 | 5.00% | 476898 | 12/1/2055 | 476218 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6.5% 09/01/2054#DC1965 | 6.50% | 50494 | 9/1/2054 | 52420 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.5% 01/01/2036#849077 | 5.50% | 15629 | 1/1/2036 | 16202 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 5.48% 12/35 #848522 | 6.22% | 1543 | 12/1/2035 | 1578 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 09/01/2035#832729 | 6.47% | 7721 | 9/1/2035 | 7990 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.5% 12/01/2034#804395 | 5.50% | 10033 | 12/1/2034 | 10390 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 11/36 #745950 | 6.00% | 8866 | 11/1/2036 | 9332 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 11/36 #745946 | 5.50% | 3104 | 11/1/2036 | 3222 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 5.99% 8/36 #745761 | 6.45% | 6190 | 8/1/2036 | 6410 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 5.51% 7/36 #745777 | 6.37% | 8934 | 7/1/2036 | 9188 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 5/36 #745516 | 5.50% | 9270 | 5/1/2036 | 9614 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 4/36 #745418 | 5.50% | 20127 | 4/1/2036 | 20870 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 12/35 #745412 | 5.50% | 10153 | 12/1/2035 | 10502 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 1/36 #745428 | 5.50% | 33600 | 1/1/2036 | 34812 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 3/36 #745353 | 5.50% | 2149 | 3/1/2036 | 2227 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 1/36 #745283 | 5.50% | 7470 | 1/1/2036 | 7741 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 2/36 #745256 | 6.00% | 37393 | 2/1/2036 | 39196 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 3.03% 11/35 #745216 | 6.31% | 2198 | 11/1/2035 | 2267 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 4/35 #735502 | 6.00% | 1995 | 4/1/2035 | 2089 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 5/35 #735500 | 5.50% | 8634 | 5/1/2035 | 8937 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 2/35 #735228 | 5.50% | 5369 | 2/1/2035 | 5555 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 12/34 #735115 | 6.00% | 1121 | 12/1/2034 | 1174 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 11/34 #735061 | 6.00% | 3188 | 11/1/2034 | 3341 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 11/34 #725946 | 5.50% | 7885 | 11/1/2034 | 8167 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 8/34 #725704 | 6.00% | 1989 | 8/1/2034 | 2079 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 3/34 #725229 | 6.00% | 28470 | 3/1/2034 | 29683 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 2/34 #725162 | 6.00% | 13393 | 2/1/2034 | 13974 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 3.27% 1/33 #677052 | 6.13% | 2953 | 1/1/2033 | 3016 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 15YR 3% 09/01/2028#AU6682 | 3.00% | 57179 | 9/1/2028 | 56556 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 01/01/2047#AL9717 | 4.00% | 34884 | 1/1/2047 | 33762 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6.5% 08/01/2038#AL6966 | 6.50% | 6083 | 8/1/2038 | 6478 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6% 09/01/2038#AL6965 | 6.00% | 4301 | 9/1/2038 | 4524 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.5% 09/01/2041#AL5590 | 5.50% | 1680 | 9/1/2041 | 1741 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 09/01/2042#AL2280 | 4.50% | 5473 | 9/1/2042 | 5475 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.0% 07/01/2041#AL0546 | 5.00% | 65004 | 7/1/2041 | 66289 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.50% 10/41 #AL0885 | 6.50% | 12399 | 6/1/2039 | 13200 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 15YR 3.5% 11/01/2026#AJ5340 | 3.50% | 4957 | 11/1/2026 | 4937 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 4.50% 5/41 #AI1888 | 4.50% | 141075 | 5/1/2041 | 141184 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 11/32 #545993 | 6.00% | 2473 | 11/1/2032 | 2572 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.50% 7/32 #545759 | 6.50% | 11935 | 7/1/2032 | 12478 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6.5% 03/01/2031#535761 | 6.50% | 7086 | 3/1/2031 | 7367 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 7.00% 9/29 #511384 | 7.00% | 145 | 9/1/2029 | 152 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 4/35 #357748 | 5.50% | 2520 | 4/1/2035 | 2609 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 11/34 #255459 | 6.00% | 2733 | 11/1/2034 | 2861 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 12/33 #254984 | 6.00% | 3920 | 12/1/2033 | 4099 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.00% 10/33 #254903 | 5.00% | 28980 | 10/1/2033 | 29474 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 5/37 #190379 | 5.50% | 7487 | 5/1/2037 | 7765 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6% 09/01/2053#SD3916 | 6.00% | 888796 | 9/1/2053 | 922902 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5.5% 08/01/2053#SD3630 | 5.50% | 746339 | 8/1/2053 | 762022 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 12/01/2038#AE0557 | 6.92% | 22077 | 12/1/2038 | 22909 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 9/38 #AD0198 | 5.50% | 25306 | 9/1/2038 | 26227 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 8/37 #AD0217 | 6.00% | 24747 | 8/1/2037 | 25839 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.50% 8/39 #AD0130 | 6.50% | 4510 | 8/1/2039 | 4816 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 01/01/2055#MA5584 | 4.50% | 5144695 | 1/1/2055 | 5024652 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 04/01/2053#MA4977 | 4.50% | 787019 | 4/1/2053 | 771606 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 10/01/2052#MA4784 | 4.50% | 366684 | 10/1/2052 | 359732 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 09/01/2052#MA4732 | 4.00% | 417344 | 9/1/2052 | 398046 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 08/01/2052#MA4700 | 4.00% | 1183205 | 8/1/2052 | 1126925 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3.5% 05/01/2052#MA4600 | 3.50% | 1082662 | 5/1/2052 | 1002670 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 06/01/2052#MA4626 | 4.00% | 952982 | 6/1/2052 | 908736 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3% 03/01/2050# | 3.00% | 4554897 | 3/1/2050 | 4074544 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YRS 4.00% 9/31 #MA3894 | 4.00% | 30344 | 9/1/2031 | 30233 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 5% 03/01/2049#MA3617 | 5.00% | 91874 | 3/1/2049 | 93516 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 3.5% 04/37#MA2962 | 3.50% | 191661 | 4/1/2037 | 187382 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 3.5% 03/01/2037#MA2923 | 3.50% | 1066210 | 3/1/2037 | 1042744 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4% 01/01/2037#MA2880 | 4.00% | 115934 | 1/1/2037 | 114920 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4% 11/01/2035#MA2455 | 4.00% | 72691 | 11/1/2035 | 72329 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.0% 07/01/2035#MA2366 | 4.00% | 96580 | 8/1/2035 | 96098 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.0% 09/01/2034 #MA2055 | 4.00% | 88308 | 10/1/2034 | 88143 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.0% 04/01/34#MA1858 | 4.00% | 137280 | 4/1/2034 | 137496 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA FHAL 6% 03/01/2039#AB8053 | 6.00% | 19572 | 3/1/2039 | 20232 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.0% 11/1/30 #AB1763 | 4.00% | 8445 | 11/1/2030 | 8418 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 02/01/2054#FS9443 | 4.50% | 1102544 | 2/1/2054 | 1079919 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 07/01/2053#FS7754 | 4.00% | 1122477 | 7/1/2053 | 1069871 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 12/01/2053#FS6639 | 4.50% | 1052619 | 12/1/2053 | 1032334 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3.5% 07/01/2052#FS2343 | 3.50% | 3085260 | 7/1/2052 | 2878519 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3% 03/01/2052#FS0980 | 3.00% | 865814 | 3/1/2052 | 775508 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2.5% 02/01/2051#FM8768 | 2.50% | 602363 | 2/1/2051 | 517179 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2.5% 03/01/2051#FM8215 | 2.50% | 4922 | 3/1/2051 | 4254 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2.5% 11/01/2050#FM7733 | 2.50% | 2761428 | 11/1/2050 | 2383860 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3.5% 01/01/2051#FM7599 | 3.50% | 3001253 | 1/1/2051 | 2802954 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2% 02/01/2051#FM5997 | 2.00% | 690426 | 2/1/2051 | 569011 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2.5% 08/01/2050#FM4228 | 2.50% | 991435 | 8/1/2050 | 856806 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 12/01/2054#FA1379 | 4.00% | 1111577 | 12/1/2054 | 1058092 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 10/01/2052#CB4852 | 4.50% | 582339 | 10/1/2052 | 571299 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3.5% 08/01/2052#CB4361 | 3.50% | 1292245 | 8/1/2052 | 1202422 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 3.5% 05/01/2052#CB3593 | 3.50% | 3783524 | 5/1/2052 | 3527628 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2% 02/01/2051#CA8813 | 2.00% | 737393 | 2/1/2051 | 607718 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2% 01/01/2051#CA8473 | 2.00% | 1670238 | 1/1/2051 | 1376516 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2.5% 09/01/2050#CA6990 | 2.50% | 6316006 | 9/1/2050 | 5452423 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2% 09/01/2050#CA6925 | 2.00% | 1222319 | 9/1/2050 | 1005456 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2.5% 07/01/2050#CA6401 | 2.50% | 921088 | 7/1/2050 | 791694 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2% 07/01/2050#CA6388 | 2.00% | 2315395 | 7/1/2050 | 1905324 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 2.5% 07/01/2050#CA6238 | 2.50% | 3293470 | 7/1/2050 | 2841098 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 11/01/2048#CA2643 | 4.50% | 332166 | 11/1/2048 | 330021 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4% 06/01/2052#BW0490 | 4.00% | 977575 | 6/1/2052 | 933898 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 3.359% 10/01/2049#BM6149 | 3.33% | 440474 | 10/1/2049 | 447696 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 01/43#BM1357 | 4.50% | 186631 | 1/1/2043 | 186776 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 06/01/2048#BJ9262 | 4.50% | 669492 | 6/1/2048 | 664750 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 05/01/2035#825252 | 6.58% | 1642 | 5/1/2035 | 1685 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 6/35 #745398 | 6.00% | 29784 | 6/1/2035 | 30994 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.00% 3/34 #725330 | 6.00% | 44349 | 3/1/2034 | 46239 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM RFT1Y+159 09/45#AX5628 | 6.34% | 24396 | 9/1/2045 | 25216 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 01/01/2046#AX5655 | 6.50% | 20341 | 1/1/2046 | 20974 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4% 05/01/2032#AX3726 | 4.00% | 30899 | 5/1/2032 | 30784 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 11/01/2044#AX0875 | 6.12% | 24007 | 11/1/2044 | 24817 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 2.198% 06/42#AO5135 | 6.55% | 27726 | 6/1/2042 | 28756 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 04/01/2042#AO0824 | 6.68% | 7694 | 4/1/2042 | 8002 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 06/01/2046#AL8840 | 4.50% | 187192 | 6/1/2046 | 187621 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 02/01/2046#AL9128 | 4.50% | 74994 | 2/1/2046 | 75052 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 15YR 3.5% 02/01/2031#AL9063 | 3.50% | 67144 | 2/1/2031 | 66613 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 09/01/2046#AL9011 | 6.35% | 9578 | 9/1/2046 | 9910 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 02/46#AL9781 | 4.50% | 156261 | 2/1/2046 | 156432 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 01/01/2046#AL7899 | 6.45% | 40624 | 1/1/2046 | 41894 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 4.5% 02/01/2045#AL7147 | 4.50% | 34435 | 2/1/2045 | 34354 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 2.181% 04/01/2044#AL6208 | 6.46% | 17388 | 4/1/2044 | 18038 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.5% 12/33 #AL4577 | 4.50% | 80265 | 1/1/2034 | 80795 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6.0% 07/01/2039#AL3598 | 6.00% | 85276 | 7/1/2039 | 89386 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 30YR 6% 02/01/2039#AL1849 | 6.00% | 11816 | 2/1/2039 | 12471 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 20YR 4.5% 09/01/2031#AI8900 | 4.50% | 31731 | 9/1/2031 | 31933 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 5.50% 6/33 #555531 | 5.50% | 12794 | 6/1/2033 | 13208 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 6.50% 2/38 #310048 | 6.50% | 4025 | 2/1/2038 | 4292 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA 7.00% 11/37 #256985 | 7.00% | 8699 | 11/1/2037 | 9456 |
|  | FNMA GTD MTG PASS THRU CTF | FNGT 01-T1 A1 7.5 10/40 | 7.50% | 13226 | 10/25/2040 | 13381 |
|  | FNMA GTD MTG PASS THRU CTF | FNMA ARM 0% 07/01/2052#841463 | 2.16% | 1044442 | 7/1/2052 | 957389 |
|  | FREDDIE MAC | FHLM ARM 0% 02/01/2037#1N1433 | 6.10% | 14194 | 2/1/2037 | 14412 |
|  | FREDDIE MAC | FHLM ARM 2.57% 9/35 #1Q0107 | 6.58% | 2912 | 9/1/2035 | 3007 |
|  | FREDDIE MAC | FHLM ARM 2.21% 8/36 #1Q0142 | 6.19% | 17133 | 8/1/2036 | 17455 |
|  | FREDDIE MAC | FHLM ARM 0% 10/01/2045#849820 | 6.38% | 28584 | 10/1/2045 | 29506 |
|  | FREDDIE MAC | FHLM ARM 2.785% 10/45#849849 | 6.35% | 43728 | 10/1/2045 | 45153 |
|  | FREDDIE MAC | FHLM ARM 0% 08/01/2042#849207 | 6.52% | 24353 | 8/1/2042 | 25349 |
|  | FREDDIE MAC | FHLM ARM 3.06% 05/01/2044#849327 | 6.50% | 174377 | 5/1/2044 | 179991 |
|  | FREDDIE MAC | FHLM ARM 3.134% 05/44#849399 | 6.47% | 93157 | 5/1/2044 | 96171 |
|  | FREDDIE MAC | FHLM ARM 0% 01/45#849625 | 6.32% | 44686 | 1/1/2045 | 46134 |
|  | FREDDIE MAC | FHLM ARM 2.896% 02/01/45#2B3797 | 6.62% | 99579 | 2/1/2045 | 102503 |
|  | FREDDIE MAC | FHLM ARM 0% 12/01/2045#2B4962 | 5.99% | 44973 | 12/1/2045 | 46374 |
|  | FREDDIE MAC | FHLM ARM 2.822% 07/01/2046#2B5468 | 6.36% | 235432 | 7/1/2046 | 243120 |
|  | FREDDIE MAC | FHLM ARM 2.756% 05/01/2046#840286 | 6.37% | 66905 | 5/1/2046 | 69005 |
|  | FREDDIE MAC | FSPC T-51 1A CSTR 9/43 | 6.50% | 297643 | 9/25/2043 | 313128 |
|  | FREDDIE MAC | FHLM 30YR 4% 04/01/2053#SL1300 | 4.00% | 3672957 | 4/1/2053 | 3506559 |
|  | FREDDIE MAC | FHLM 30YR 6.5% 06/01/2055#SL1563 | 6.50% | 873466 | 6/1/2055 | 911017 |
|  | FREDDIE MAC | FHLM 30YR 6% 05/01/2055#QY1706 | 6.00% | 533054 | 5/1/2055 | 549595 |
|  | FREDDIE MAC | FHLM 30YR 6.5% 01/01/2055#QX3636 | 6.50% | 28089 | 1/1/2055 | 29237 |
|  | FREDDIE MAC | FHLM 30YR 6.5% 01/01/2055#QX2526 | 6.50% | 87599 | 1/1/2055 | 91126 |
|  | FREDDIE MAC | FHLM ARM 5.78% 2/37 #1Q0196 | 6.99% | 2389 | 2/1/2037 | 2476 |
|  | FREDDIE MAC | FHLM ARM 5.02% 3/36 #1Q0081 | 6.38% | 3502 | 3/1/2036 | 3628 |
|  | FREDDIE MAC | FHLM ARM 4.60% 6/38 #1G2860 | 6.48% | 10571 | 6/1/2038 | 10891 |
|  | FREDDIE MAC | FHLM ARM 5.74% 10/37 #1G2241 | 6.37% | 9253 | 10/1/2037 | 9593 |
|  | FREDDIE MAC | FHLM ARM 0.0% 05/01/2037#1G1921 | 6.69% | 1272 | 5/1/2037 | 1314 |
|  | FREDDIE MAC | FHLM ARM 5.55% 10/36 #1G2603 | 6.36% | 3503 | 10/1/2036 | 3608 |
|  | FREDDIE MAC | FHLM ARM 2.37% 1/36 #1H2581 | 6.31% | 10542 | 1/1/2036 | 10782 |
|  | FREDDIE MAC | FHLM ARM 0.0% 02/01/2037#1G1496 | 6.73% | 2065 | 2/1/2037 | 2127 |
|  | FREDDIE MAC | FHLM ARM 5.93% 12/36 #1G1353 | 6.22% | 1033 | 12/1/2036 | 1073 |
|  | FREDDIE MAC | FHLM ARM 6.01% 11/36 #1G1326 | 6.40% | 2107 | 11/1/2036 | 2193 |
|  | FREDDIE MAC | FHLM ARM 0% 04/01/2037#1G1684 | 6.63% | 26984 | 4/1/2037 | 27760 |
|  | FREDDIE MAC | FHLM ARM 5.98% 10/36 #1H1351 | 6.32% | 191 | 10/1/2036 | 195 |
|  | FREDDIE MAC | FHLM ARM 5.21% 2/37 #1J0248 | 6.93% | 689 | 2/1/2037 | 713 |
|  | FREDDIE MAC | FHLM ARM RFT1Y+208.3 2/38 #1J0889 | 6.96% | 9676 | 2/1/2038 | 10062 |
|  | FREDDIE MAC | FHLM ARM 0.0% 05/01/2038#847962 | 6.62% | 6690 | 5/1/2038 | 6913 |
|  | FREDDIE MAC | FHLM ARM 5.90% 1/37 #1B3203 | 6.36% | 11226 | 1/1/2037 | 11595 |
|  | FREDDIE MAC | FHLM ARM 0% 08/01/2046#840419 | 6.35% | 58690 | 8/1/2046 | 60611 |
|  | FREDDIE MAC | FHLM ARM 0% 08/46#840380 | 6.15% | 61383 | 8/1/2046 | 63287 |
|  | FREDDIE MAC | FHLM ARM 2.756% 05/01/2046#840286 | 6.37% | 32997 | 5/1/2046 | 34033 |
|  | FREDDIE MAC | FHLM ARM 0% 12/01/2045#2B4962 | 5.99% | 33095 | 12/1/2045 | 34126 |
|  | FREDDIE MAC | FHLM ARM 2.896% 02/01/45#2B3797 | 6.62% | 25963 | 2/1/2045 | 26726 |
|  | FREDDIE MAC | FHL ARM 2.88% 10/01/44#849505 | 6.29% | 48095 | 10/1/2044 | 49636 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | FREDDIE MAC | FHLM ARM 3.06% 05/01/2044#849327 | 6.50% | 87270 | 5/1/2044 | 90079 |
|  | FREDDIE MAC | FHLM ARM 0% 05/01/2044#849312 | 6.61% | 8815 | 5/1/2044 | 9096 |
|  | FREDDIE MAC | FHLM ARM 3.078% 04/01/2044#849278 | 6.51% | 25441 | 4/1/2044 | 26242 |
|  | FREDDIE MAC | FHLM ARM 2.54% 01/01/2042#849254 | 6.68% | 19765 | 1/1/2042 | 20606 |
|  | FREDDIE MAC | FHLM ARM 0% 11/01/2039#1Q1535 | 6.58% | 15156 | 11/1/2039 | 15643 |
|  | FREDDIE MAC | FHLM ARM 4.69% 9/35 #1G1114 | 6.48% | 1534 | 9/1/2035 | 1580 |
|  | FREDDIE MAC STACR REMIC TRUST 2021-DNA1 | STACR 2025-DNA4 M1 SOFR30A+110 10/25/2045 144A | 4.97% | 113352 | 10/25/2045 | 113405 |
|  | FREDDIE MAC STACR REMIC TRUST 2021-DNA1 | STACR REMIC TRUST 2025-DNA4 A1 SOFR30A+90 10/25/2045 | 4.77% | 323750 | 10/25/2045 | 323889 |
|  | FREDDIE MAC STACR REMIC TRUST 2021-DNA1 | STACR 2025-DNA3 30YR 0% 09/25/2045# | 4.97% | 572263 | 9/25/2045 | 572650 |
|  | FREDDIE MAC STACR REMIC TRUST 2021-DNA1 | FREDDIE MAC STACR REMIC TRUST 2021-DNA1 SOFR30A+29 | 6.82% | 162921 | 6/25/2042 | 165793 |
|  | FREDDIE MAC STACR REMIC TRUST 2021-DNA1 | FREDDIE MAC STACR REMIC TRUST 2021-DNA1 SOFR30A+21 | 5.97% | 712237 | 4/25/2043 | 721920 |
|  | FREDDIE MAC STACR REMIC TRUST 2021-DNA1 | FREDDIE MAC STACR REMIC TRUST 2021-DNA1 M2 SOFR30A | 5.67% | 925000 | 11/25/2041 | 931877 |
|  | FREDDIE MAC STACR REMIC TRUST 2024-HQA1 | FREDDIE MAC STACR REMIC TRUST 25-DNA1 A1 SOFR30A+9 | 4.82% | 151250 | 1/25/2045 | 151453 |
|  | FREDDIE MAC STACR REMIC TRUST 2024-HQA1 | FREDDIE MAC STACR REMIC TRUST 2024-HQA1 A1 SOFR30A | 5.12% | 991450 | 3/25/2044 | 994549 |
|  | GALTON FDG MTG TR 2019-1 | GALTON FUNDING MORTGAGE TRUST 2019-1 A32 4% 02/25/2059 | 4.00% | 8400 | 2/25/2059 | 8080 |
|  | GCAT 2025-NQM1 TRUST | GCAT 2025-NQM1 TRUST 5.373% 11/25/2069 144A | 5.37% | 422319 | 11/25/2069 | 426070 |
|  | GNMA II | GNII II 5% 01/01/2056 #TBA | 5.00% | 3035000 | 1/1/2056 | 3027641 |
|  | GNMA II | GNII II 4.50% 7/40 #004746 | 4.50% | 21412 | 7/20/2040 | 21426 |
|  | GNMA II | GNII II 5.00% 2/40 #004637 | 5.00% | 5500 | 2/20/2040 | 5607 |
|  | GNMA II | GNII II 5.00% 11/39 #004578 | 5.00% | 130527 | 11/20/2039 | 133060 |
|  | GNMA II | GNII II 5% 5/36 #003850 | 5.00% | 3430 | 5/20/2036 | 3493 |
|  | GNMA II | GNII II 5% 1/36 #003805 | 5.00% | 2730 | 1/20/2036 | 2780 |
|  | GNMA II | GNII II 5.00% 12/35 #003795 | 5.00% | 3421 | 12/20/2035 | 3482 |
|  | GNMA II | GNII II 5% 12/34 #003651 | 5.00% | 5119 | 12/20/2034 | 5208 |
|  | GNMA II | GNII II 8.5% 07/20/2026#002250 | 8.50% | 42 | 7/20/2026 | 42 |
|  | GNMA II | GNII II 4% 04/20/2050#BS9717 | 4.00% | 10336 | 4/20/2050 | 9866 |
|  | GNMA II | GNII II 4% 04/20/2050#BS9707 | 4.00% | 2431 | 4/20/2050 | 2318 |
|  | GNMA II | GNII II 4% 04/20/2050#BS6833 | 4.00% | 1037 | 4/20/2050 | 989 |
|  | GNMA II | GNII II 4% 04/20/2050#BS6832 | 4.00% | 4329 | 4/20/2050 | 4132 |
|  | GNMA II | GNII II 4.5% 03/20/2044#MA1762 | 4.50% | 262853 | 3/20/2044 | 262505 |
|  | GNMA II | GNII II 4% 04/20/2050#BS6831 | 4.00% | 2975 | 4/20/2050 | 2840 |
|  | GNMA II | GNII II 4% 10/20/2050#MA6934 | 4.00% | 323051 | 10/20/2050 | 310162 |
|  | GNMA II | GNII II 5.5% 03/20/2049#MA5820 | 5.50% | 6942 | 3/20/2049 | 7198 |
|  | GNMA II | GNII II 5.5% 02/20/2049#MA5766 | 5.50% | 95434 | 2/20/2049 | 98778 |
|  | GNMA II | GNII II 5.5% 12/20/2048#MA5654 | 5.50% | 24932 | 12/20/2048 | 25805 |
|  | GNMA II | GNII II 5.5% 03/20/2048#MA5081 | 5.50% | 16518 | 3/20/2048 | 17135 |
|  | GNMA II | GNII II 5% 02/20/2048#MA5022 | 5.00% | 47514 | 2/20/2048 | 48500 |
|  | GNMA II | GNII II 5% 01/20/2048#MA4965 | 5.00% | 154573 | 1/20/2048 | 157780 |
|  | GNMA II | GNII II 3% 09/20/2047#MA4718 | 3.00% | 719679 | 9/20/2047 | 655058 |
|  | GOVERNMENT NAT MTG AS REMIC PT | GOVERNMENT NAT MTG AS REMIC PT SOFR30A+ 06/20/2068 | 4.42% | 1547493 | 6/20/2068 | 1539642 |
|  | GOVERNMENT NAT MTG AS REMIC PT | GNR 2022-H09 FA SOFR30A+67 04/20/2072 | 4.59% | 1683515 | 4/20/2072 | 1679461 |
|  | GOVERNMENT NAT MTG AS REMIC PT | GOVERNMENT NAT MTG AS REMIC PT SOFR30A+75 03/20/2072 | 4.67% | 2054150 | 3/20/2072 | 2054751 |
|  | GOVERNMENT NAT MTG AS REMIC PT | GOVERNMENT NAT MTG AS REMIC PT SOFR30A+97 05/20/2072 | 4.89% | 663376 | 5/20/2072 | 668089 |
|  | GOVERNMENT NAT MTG AS REMIC PT | GOVERNMENT NAT MTG AS REMIC PT SOFR30A+75 03/20/2072 | 4.67% | 947926 | 3/20/2072 | 948203 |
|  | GOVERNMENT NAT MTG AS REMIC PT | GOVERNMENT NAT MTG AS REMIC PT SOFR30A+85 01/20/2072 | 4.77% | 1150144 | 1/20/2073 | 1154174 |
|  | GOVERNMENT NAT MTG AS REMIC PT | GNR 2022-H09 FA SOFR30A+67 04/20/2072 | 4.59% | 1149546 | 4/20/2072 | 1146778 |
|  | GOVERNMENT NAT MTG AS REMIC PT | GOVERNMENT NAT MTG AS REMIC PT SOFR30A+ 03/20/2072 | 4.67% | 700632 | 3/20/2072 | 700803 |
|  | GOVERNMENT NAT MTG AS REMIC PT | GOVERNMENT NAT MTG AS REMIC PT SOFR30A+ 12/20/2071 | 4.74% | 1121861 | 12/20/2071 | 1124424 |
|  | GOVERNMENT NAT MTG AS REMIC PT | GOVERNMENT NAT MTG AS REMIC PT TSFR12M+ 02/20/2068 | 4.92% | 462055 | 2/20/2068 | 463615 |
|  | GOVERNMENT NAT MTG ASSN HECM MBS REMIC P | GOVERNMENT NAT MTG ASSN HECM TSFR1M+ 09/20/2069 | 4.71% | 1494907 | 9/20/2069 | 1493519 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | GOVERNMENT NAT MTG ASSN HECM MBS REMIC P | GOVERNMENT NAT MTG ASSN HECM TSFR12M+76.513 02/20/2028 | 4.83% | 302222 | 2/20/2068 | 303326 |
|  | GOVERNMENT NAT MTG ASSN HECM MBS REMIC P | GOVERNMENT NAT MTG ASSN HECM TSFR12M+96.513 09/20/2028 | 5.03% | 5074892 | 9/20/2068 | 5108772 |
|  | GOVERNMENT NAT MTG ASSN HECM MBS REMIC P | GOVERNMENT NAT MTG ASSN HECM TSFR12M+ 02/20/2069 | 5.27% | 255196 | 2/20/2069 | 257074 |
|  | GOVERNMENT NAT MTG ASSN HECM MBS REMIC P | GOVERNMENT NAT MTG AS REMIC PT TSFR12M+117.513 07/20/2069 | 5.24% | 1214170 | 7/20/2069 | 1228870 |
|  | GOVERNMENT NAT MTG ASSN HECM MBS REMIC P | GOVERNMENT NAT MTG ASSN HECM DF TSFR12M+73.513 07/20/2068 | 4.60% | 273463 | 7/20/2068 | 274388 |
|  | GOVERNMENT NAT MTG ASSN HECM MBS REMIC P | GOVERNMENT NAT MTG ASSN HECM TSFR12M+79.513 05/20/2068 | 4.56% | 266112 | 5/20/2068 | 265836 |
|  | GOVERNMENT NAT MTG ASSN HECM MBS REMIC P | GOVERNMENT NAT MTG ASSN HECM TSFR12M+ 11/20/2066 | 4.59% | 388839 | 11/20/2066 | 390925 |
|  | GOVERNMENT NATL MORTGAGE ASSOC | GINNIE MAE I POOL 30YR 5.5% 09/45#784653 | 5.50% | 86513 | 9/15/2045 | 88986 |
|  | GOVERNMENT NATL MORTGAGE ASSOC | GNMA II 3.5% 03/43 #AD8825 | 3.50% | 71463 | 3/20/2043 | 67588 |
|  | GOVERNMENT NATL MORTGAGE ASSOC | GNMA II 5.5% 09/20/2054#MA9906 | 5.50% | 1152249 | 9/20/2054 | 1166060 |
|  | GOVERNMENT NATL MORTGAGE ASSOC | GNMA II 4% 04/20/2050#BU2157 | 4.00% | 7426 | 4/20/2050 | 7083 |
|  | GOVERNMENT NATL MORTGAGE ASSOC | GNMA II 4% 04/20/2050#BU2156 | 4.00% | 9809 | 4/20/2050 | 9362 |
|  | GOVERNMENT NATL MORTGAGE ASSOC | GNMA II 4% 04/20/2050#BT2983 | 4.00% | 4904 | 4/20/2050 | 4681 |
|  | GOVERNMENT NATL MORTGAGE ASSOC | GNMA II 4% 04/20/2050#BT2982 | 4.00% | 4120 | 4/20/2050 | 3930 |
|  | GOVERNMENT NATL MORTGAGE ASSOC | GNMA II 4% 03/48#BE6823 | 4.00% | 12026 | 3/20/2048 | 11523 |
|  | GOVERNMENT NATL MORTGAGE ASSOC | GNMA II 4% 10/20/2052#MA8346 | 4.00% | 524709 | 10/20/2052 | 500044 |
|  | GOVERNMENT NATL MORTGAGE ASSOC | GNMA II 3.5% 07/20/2052#MA8149 | 3.50% | 1727530 | 7/20/2052 | 1590684 |
|  | GS MTG SECS TR 2017-GS6 | GS MTG SECS TR 2017-GS6 3.433% 05/10/2050 | 3.43% | 720000 | 5/10/2050 | 711966 |
|  | GS MTG-BACKED SECS TR 2014-EB1A 2A1 CSTR 07/25/204 | GS MTG-BACKED SECS TR 2014-EB1A 2A1 CSTR 07/25/204 | 5.76% | 2056 | 7/25/2044 | 2056 |
|  | HILT COMMERCIAL MORTGAGE TRUST 2024-ORL | HILT COMMERCIAL MORTGAGE TRUST 2024-ORL B TSFR1M+1 | 5.69% | 765000 | 5/15/2037 | 766418 |
|  | HOMES 2025-NQM2 TRUST | HOMES 2025-NQM2 TRUST 5.425% 02/25/2070 144A | 5.43% | 354697 | 2/25/2070 | 357764 |
|  | HOMES 2025-NQM4 TRUST | HOMES 25-NQM4 A1 TRUST 5.22% 08/25/2070 144A | 5.22% | 517335 | 8/25/2070 | 519942 |
|  | HYT COMMERCIAL MORTGAGE TRUST 2024-RGCY | HYT COMMERCIAL MORTGAGE TRUST 2024-RGCY TSFR1M+184 | 5.59% | 525000 | 9/15/2041 | 525979 |
|  | ILLINOIS ST | IL ST TAXMUNI 5.1% 6/01/33 | 5.10% | 1875980 | 6/1/2033 | 1922635 |
|  | ILLINOIS ST | IL ST TAXMUNI 5.1% 6/01/33 | 5.10% | 2098480 | 6/1/2033 | 2150669 |
|  | IMPERIAL FUND MORTGAGE TRUST 2021-NQM2 | IMPERIAL FUND MORTGAGE TRUST 1.516% 09/25/2056 144 | 1.52% | 157617 | 9/25/2056 | 135927 |
|  | IMPERIAL FUND MORTGAGE TRUST 2022-NQM4 | IMPERIAL FUND MORTGAGE TRUST 2022-NQM4 A1 4.767% 0 | 5.77% | 483226 | 6/25/2067 | 483981 |
|  | J P MORGAN MTG TR 2025-DSC1 | JP MORGAN MORTGAGE TRUST SERIES 2025-DSC1 A1 VAR 0 | 5.58% | 802480 | 9/25/2065 | 811301 |
|  | JP MORGAN CHASE COMMERCIAL MORTGAGE SECU | JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRU | 2.85% | 580000 | 9/6/2038 | 572036 |
|  | JP MORGAN MORTGAGE TRUST 2025-DSC2 | JP MORGAN MORTGAGE TRUST 2025-DSC2 5.195% 10/25/2065 | 5.20% | 368668 | 10/25/2065 | 370892 |
|  | JP MORGAN MORTGAGE TRUST SERIES 2025-NQM | JP MORGAN MORTGAGE TRUST SERIES 2025-NQM3 5.495% 1 | 5.50% | 270655 | 11/25/2065 | 273234 |
|  | LSTAR COML MTG TR 2017-5 | LSTAR COML MTG TR 2017-5 4.021% 03/10/2050 144A | 4.02% | 1500000 | 3/10/2050 | 1461971 |
|  | MED COML MTG TR 2024-MOB | MED COML MTG TR 2024-MOB A TSFR1M+159.151 05/15/2041 | 5.34% | 380000 | 5/15/2041 | 378585 |
|  | METLIFE SECURITIZATION TR 2017-1 | METLIFE SECURITIZATION TR 2017-1 3% 04/25/2055 144 | 3.00% | 203521 | 4/25/2055 | 196875 |
|  | MFA 2023-INV2 TRUST | MFA 2023-INV2 TRUST STEP 10/25/2058 144A | 7.18% | 423113 | 10/25/2058 | 427665 |
|  | MFA 2025-NQM4 TRUST | MFA 2025-NQM4 TRUST 5.54% 08/25/2070 144A | 5.07% | 1466806 | 8/25/2070 | 1465557 |
|  | MORGAN STANLEY BK AMER TR 2025-C35 | MORGAN STANLEY BK AMER TR 2025-C35 4.609% 08/15/2058 | 4.61% | 95499 | 8/15/2058 | 96214 |
|  | MORGAN STANLEY CAPITAL I | MORGAN STANLEY CAPITAL I 2.782% 08/15/2049 | 2.78% | 1290000 | 8/15/2049 | 1276496 |
|  | MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN | MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST 202 | 5.44% | 115925 | 7/25/2070 | 116926 |
|  | NEW JERSEY ST TPK AUTH TPK REV | NEW JERSEY ST TPK AUTH TPK REVBUILD AMERICA BONDS- | 7.10% | 500000 | 1/1/2041 | 584200 |
|  | NEW JERSEY ST TPK AUTH TPK REV | NEW JERSEY ST TPK AUTH TPK REVBUILD AMERICA BDS-TA | 7.41% | 125000 | 1/1/2040 | 149818 |
|  | NEW JERSEY ST TPK AUTH TPK REV | NEW JERSEY ST TPK AUTH TPK REVBUILD AMERICA BONDS- | 7.10% | 1275000 | 1/1/2041 | 1489709 |
|  | NEW RESIDENTIAL MORTGAGE LOAN TRUST 2025 | NEW RESIDENTIAL MORTGAGE LOAN TRUST 2025-NQM4 A2 5 | 5.60% | 1063805 | 7/25/2065 | 1075925 |
|  | NEW RESIDENTIAL MORTGAGE LOAN TRUST 2025 | NEW RESIDENTIAL MORTGAGE LOAN TRUST 2025-NQM4 A1 5 | 5.35% | 531902 | 7/25/2065 | 536196 |
|  | NEW RESIDENTIAL MORTGAGE LOAN TRUST 2025 | NEW RESIDENTIAL MORTGAGE LOAN TRUST 2025-NQM7 5.26 | 5.26% | 300000 | 10/26/2065 | 300430 |

---

------

**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | NEW RESIDENTIAL MTG LN TR 2025-NQM6 | NRZT 2025-NQM6 VAR 10/25/2065 144A | 5.08% | 1255000 | 10/25/2065 | 1256952 |
|  | OBX 2019-EXP3 TR | OBX 2019-EXP3 TR 2A1 2.7775% 10/25/2059 144A | 4.75% | 63864 | 10/25/2059 | 63788 |
|  | OBX 2021-NQM1 TR | OBX 2021-NQM1 A3 TR 1.329% 02/25/2066 144A | 1.33% | 447673 | 2/25/2066 | 393734 |
|  | OBX 2025-NQM15 TRUST | OBX 2025-NQM15 TRUST 5.4927% 07/27/2065 144A | 5.02% | 249163 | 7/27/2065 | 248951 |
|  | OBX 2025-NQM15 TRUST | OBX 2025-NQM15 TRUST 5.143% 07/27/2065 144A | 5.14% | 239761 | 7/27/2065 | 240726 |
|  | OSS 2024-H6 MTG TR | OSS 2024-H6 MTG TR 5.383% 09/25/2069 144A | 5.38% | 957218 | 9/25/2069 | 960672 |
|  | RCKT MORTGAGE TRUST 2024-CES9 | RCKT MORTGAGE TRUST 2024-CES9 STEP 12/25/2044 144A | 5.58% | 102417 | 12/25/2044 | 103479 |
|  | SANTANDER MORTGAGE ASSET RECEIVABLE TRUS | SANTANDER MORTGAGE ASSET RECEIVABLE TRUST 2025-NQM | 5.14% | 245396 | 11/25/2065 | 245953 |
|  | SDR COMMERCIAL MORTGAGE TRUST 2024-DSNY | SDR COMMERCIAL MORTGAGE TRUST 2024-DSNY TSFR1M+174 | 5.49% | 635000 | 5/15/2039 | 633413 |
|  | SEASONED CREDIT RISK TRANSFER TRUST SERI | SEASONED CREDIT RISK TRANSFER TRUST SERIES 2016-1 | 4.50% | 254996 | 6/25/2057 | 249556 |
|  | SEMT 2018-CH2 A3 4% 06/48 | SEQUOIA MTG TR 2018-CH2 A3 4% 06/25/2048 144A | 4.00% | 32621 | 6/25/2048 | 30336 |
|  | SEQUOIA MTG TR 2018-CH3 | SEQUOIA MTG TR 2018-CH3 4.5% 08/25/2048 144A | 4.50% | 737 | 8/25/2048 | 733 |
|  | SG RESIDENTIAL MTG TR 2025-1 | SG RESIDENTIAL MTG TR 2025-1 A2 5.25% 12/25/2065 1 | 5.25% | 135000 | 12/25/2065 | 135185 |
|  | SG RESIDENTIAL MTG TR 2025-1 | SG RESIDENTIAL MTG TR 2025-1 A1 VAR 12/25/2065 144 | 5.10% | 380000 | 12/25/2065 | 380525 |
|  | STARWOOD MORTGAGE RESIDENTIAL TRUST 2021 | STARWOOD MORTGAGE RESIDENTIAL TRUST 2021-4 1.162% | 1.16% | 736342 | 8/25/2056 | 662013 |
|  | TOORAK MORTGAGE CORP 2018-1 LTD | TOORAK MORTGAGE CORP 2018-1 LTD 1.562% 07/25/2056 | 1.56% | 254322 | 7/25/2056 | 233075 |
|  | TOWD POINT MORTGAGE TRUST 2019-HY3 | TOWD POINT MORTGAGE TRUST 2019-HY3 M1 TSFR1M+161.4 | 5.35% | 260000 | 10/25/2059 | 264375 |
|  | TX TR 2024-HOU | TX TR 2024-HOU B TSFR1M+209.066 06/15/2029 144A | 5.84% | 835000 | 6/15/2039 | 835988 |
|  | UNITED STATES TREASURY BOND | UNITED STATES TREASURY BOND 4.625% 11/15/2045 | 4.63% | 1321000 | 11/15/2045 | 1290865 |
|  | UNITED STATES TREASURY BOND | USTN TII 2.375% 02/15/2055 | 2.38% | 552000 | 2/15/2055 | 540865 |
|  | UNITED STATES TREASURY BOND | UNITED STATES TREASURY BOND 4.625% 11/15/2044 | 4.63% | 3053000 | 11/15/2044 | 2991702 |
|  | UNITED STATES TREASURY BOND | UNITED STATES TREASURY BOND 4.5% 11/15/2054 | 4.50% | 1494000 | 11/15/2054 | 1409145 |
|  | UNITED STATES TREASURY BOND | UNITED STATES TREASURY BOND 4.125% 08/15/2044 | 4.13% | 4769000 | 8/15/2044 | 4376862 |
|  | UNITED STATES TREASURY BOND | UNITED STATES TREASURY BOND 4.5% 02/15/2044 | 4.50% | 632000 | 2/15/2044 | 611411 |
|  | UNITED STATES TREASURY BOND | UNITED STATES TREASURY BOND 4.125% 08/15/2053 | 4.13% | 5331000 | 8/15/2053 | 4719184 |
|  | UNITED STATES TREASURY BOND | USTN TII 1.5% 02/15/2053 | 1.50% | 1276000 | 2/15/2053 | 1090934 |
|  | UNITED STATES TREASURY BOND | UNITED STATES TREASURY BOND 3.375% 08/15/2042 | 3.38% | 1430000 | 8/15/2042 | 1208350 |
|  | UNITED STATES TREASURY BOND | UNITED STATES TREASURY BOND 3% 08/15/2052 | 3.00% | 1056000 | 8/15/2052 | 756319 |
|  | UNITED STATES TREASURY BOND | UNITED STATES TREASURY BOND 2.875% 05/15/2052 | 2.88% | 600000 | 5/15/2052 | 419250 |
|  | UNITED STATES TREASURY BOND | UNITED STATES TREASURY BOND 4.625% 11/15/2045 | 4.63% | 3945000 | 11/15/2045 | 3855005 |
|  | UNITED STATES TREASURY BOND | USTN TII 2.375% 02/15/2055 | 2.38% | 513000 | 2/15/2055 | 502652 |
|  | UNITED STATES TREASURY BOND | UNITED STATES TREASURY BOND 4.25% 08/15/2054 | 4.25% | 1284000 | 8/15/2054 | 1160917 |
|  | UNITED STATES TREASURY BOND | UNITED STATES TREASURY BOND 4.125% 08/15/2053 | 4.13% | 1955000 | 8/15/2053 | 1730633 |
|  | UNITED STATES TREASURY BOND | UNITED STATES TREASURY BOND 3.625% 05/15/2053 | 3.63% | 3094000 | 5/15/2053 | 2502877 |
|  | UNITED STATES TREASURY BOND | USTN TII 1.5% 02/15/2053 | 1.50% | 1898000 | 2/15/2053 | 1622721 |
|  | UNITED STATES TREASURY BOND | UNITED STATES TREASURY BOND 3% 08/15/2052 | 3.00% | 4212000 | 8/15/2052 | 3016680 |
|  | UNITED STATES TREASURY BOND | UNITED STATES TREASURY BOND 2.875% 05/15/2052 | 2.88% | 1888000 | 5/15/2052 | 1319240 |
|  | UST NOTES | UST NOTES 3.375% 11/30/2027 | 3.38% | 12890000 | 11/30/2027 | 12865328 |
|  | UST NOTES | UST NOTES 3.5% 10/31/2027 | 3.50% | 35255000 | 10/31/2027 | 35263263 |
|  | UST NOTES | UST NOTES 3.5% 09/30/2027 | 3.50% | 4940000 | 9/30/2027 | 4940965 |
|  | UST NOTES | UST NOTES 3.625% 08/31/2027 | 3.63% | 38550000 | 8/31/2027 | 38635834 |
|  | UST NOTES | UST NOTES 3.875% 07/15/2028 | 3.88% | 8405000 | 7/15/2028 | 8475917 |
|  | UST NOTES | USTN TII 1.625% 04/15/2030 | 1.63% | 2855000 | 4/15/2030 | 2935464 |
|  | UST NOTES | UST NOTES 4.25% 01/15/2028 | 4.25% | 3610000 | 1/15/2028 | 3663163 |
|  | UST NOTES | UST NOTES 3.875% 09/30/2032 | 3.88% | 2452000 | 9/30/2032 | 2444433 |
|  | UST NOTES | UST NOTES 4% 07/31/2032 | 4.00% | 809000 | 7/31/2032 | 813235 |
|  | UST NOTES | UST NOTES 4.25% 05/15/2035 | 4.25% | 4309000 | 5/15/2035 | 4344684 |
|  | UST NOTES | UST NOTES 3.625% 09/30/2030 | 3.63% | 2191000 | 9/30/2030 | 2182527 |
|  | UST NOTES | UST NOTES 4.75% 02/15/2045 | 4.75% | 4313000 | 2/15/2045 | 4291098 |
|  | VERUS SECURITIZATION TR 2025-3 | VERUS SECURITIZATION TR 2025-3 A1 VAR 05/25/2070 | 5.62% | 295342 | 5/25/2070 | 298724 |
|  | VERUS SECURITIZATION TRUST 2021 | VERUS SECURITIZATION TRUST 2021 1.437% 06/25/2066 | 1.44% | 581126 | 6/25/2066 | 517165 |
|  | VERUS SECURITIZATION TRUST 2023-8 | VERUS SECURITIZATION TRUST 2023-8 6.6642% 12/25/2068 | 6.66% | 446110 | 12/25/2068 | 451524 |
|  | VERUS SECURITIZATION TRUST 2025-7 | VERUS SECURITIZATION TRUST 2025-7 A1F 5.53601% 08/25/2070 | 5.07% | 656634 | 8/25/2070 | 656632 |
|  | VERUS SECURITIZATION TRUST 23-6 | VERUS SECURITIZATION TRUST 23-6 6.939% 09/25/2068 | 6.94% | 235354 | 9/25/2068 | 237635 |

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | **(c) Description of Investment** | |
|<br>**(a)** |<br>**(b) Identity of Issue, Borrower, Lessor, or Similar Party** | **Description of Investment** | **Rate of Interest** | **Number of Units, Shares, or Face Amount** | **Maturity** |<br>**(e) Current Value** |
|  | WSTN TRUST 2023-MAUI | WSTN TRUST 2023-MAUI VAR 07/05/2037 144A | 7.02% | 920000 | 7/5/2037 | 934875 |
|  | TOTAL INVESTMENTS |  |  |  |  | $12598187281 |

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\* Indicates party-in-interest

VR: Variable Rate

Column (d) cost, has been omitted, as all investments are participant directed

See Report of Independent Registered Public Accounting Firm

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**<u>[**Table of Contents**](#ie05f31d7bfc445f79df52bb92ccae114_4)</u>**

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrator of the Plan has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| | **MARRIOTT RETIREMENT SAVINGS PLAN** |
| Dated: June 16, 2026 | /s/ Thaddeus Shepherd |
| | Plan Administrator |

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## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the incorporation by reference in the Registration Statement of Marriott International, Inc. on Form S-8 (No. 333-262744, 333-269762, 333-277033, and 333-284982) of our report dated June 16, 2026 appearing in this Annual Report on Form 11-K of Marriott Retirement Savings Plan for the year ended December 31, 2025.

/s/ CohnReznick LLP

Bethesda, Maryland

June 16, 2026

<br>