# EDGAR Filing Document

**Accession Number:** 0001342947
**File Stem:** 0001752724-25-161390
**Filing Date:** 2025-6
**Character Count:** 152488
**Document Hash:** ee88510799efc114f1653b634454c6f2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-161390.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0001752724-25-161390

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**PERIOD START**: 20251031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21829
- **FILM NUMBER:** 251083573

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

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

## Series and Classes Contracts Data

### BBH INCOME FUND (Series ID: S000062218)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000201413 | CLASS I SHARES (TICKER BBNIX) | BBNIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

  - **Street Address 1:** 140 Broadway

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

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

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

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

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

- **b. EDGAR series identifier (if any):** S000062218

- **c. LEI of Series:** 549300ZKXJXVR6XM1291

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

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

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1648341952.32

**Total Liabilities:** $82884957.89

**Net Assets:** $1565456994.43

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -1914.00000000 | **1-Year:** -61173.00000000 | **5-Year:** -123633.00000000 | **10-Year:** -35419.00000000 | **30-Year:** -16117.00000000

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

- **3-Month:** -2436.00000000 | **1-Year:** -34147.00000000 | **5-Year:** -70492.00000000 | **10-Year:** -45819.00000000 | **30-Year:** -72029.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000201413 | 2.34%                | -0.07%               | 0.32%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-731364.35              | $18451838.70                               |
| Month 2  | $693059.42               | $-7332003.84                               |
| Month 3  | $507378.04               | $-4133773.53                               |

**Designated Index Information**

- **Index Name:** Bloomberg US Aggregate Bond Index

- **Index Identifier:** LBUSTRUU Index

### Schedule of Portfolio Investments

| Name                           | Title                                                                                                | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| VDC 2023-1A A 6.316% 03/15/28  | VANTAGE DATA CENTERS ISSUER LLC SER 2023-1A CL A2 REGD 144A P/P 6.31600000                           | CUSIP: 92212KAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3350000 | PA      | $3379593.90   | 0.22%             | 2048-03-16      | Fixed         | 6.32%                 | Yes           |                  2 | On Loan: No      |
| VOLKSWAGEN GROU 4.85% 08/15/27 | VOLKSWAGEN GROUP AMERICA REGD 144A P/P 4.85000000                                                    | CUSIP: 928668CL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3835000 | PA      | $3836471.99   | 0.25%             | 2027-08-15      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| STWD 2019-FL1 B V/R 02/15/24   | STWD 2019-FL1 LTD SER 2019-FL1 CL B V/R REGD 144A P/P 6.03634000                                     | CUSIP: 78485WAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    890000 | PA      | $889706.30    | 0.06%             | 2038-07-15      | Variable      | 6.04%                 | Yes           |                  2 | On Loan: No      |
| BAUSCH HEALTH  4.875% 06/01/28 | BAUSCH HEALTH COS INC REGD 144A P/P 4.87500000                                                       | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    730000 | PA      | $592869.50    | 0.04%             | 2028-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| T/L ILPEA PARENT 0% 06/22/28   | T/L ILPEA PARENT INC REGD 0.00000000                                                                 | CUSIP: 45236FAF4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2677546 | PA      | $2674199.40   | 0.17%             | 2028-06-22      | Variable      | 8.33%                 | No            |                  2 | On Loan: No      |
| ENSTAR FINANCE LL V/R 01/15/42 | ENSTAR FINANCE LLC REGD V/R 5.50000000                                                               | CUSIP: 29360AAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9717000 | PA      | $9321801.84   | 0.60%             | 2042-01-15      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| DBRG 2021-1A  3.933% 09/25/26  | DIGITALBRIDGE ISSUER LLC SER 2021-1A CL A2 REGD 144A P/P 3.93300000                                  | CUSIP: 25402JAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2850000 | PA      | $2759323.83   | 0.18%             | 2051-09-25      | Fixed         | 3.93%                 | Yes           |                  2 | On Loan: No      |
| FREMF 2025-K535  V/R 12/25/29  | FREMF 2025-K535 MORTGAGE TRUST SER 2025-K535 CL C V/R REGD 144A P/P 5.30619200                       | CUSIP: 30340EAG0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7361000 | PA      | $6421921.16   | 0.41%             | 2029-12-25      | Variable      | 5.31%                 | Yes           |                  2 | On Loan: No      |
| T/L PROTECTIVE IND 0% 01/17/32 | T/L PROTECTIVE INDUSTRIAL PRODUCTS INC 0.00000000                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3460000 | PA      | $3297380.00   | 0.21%             | 2032-01-17      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| AXIS SPECIALTY FI V/R 01/15/40 | AXIS SPECIALTY FINANCE REGD V/R 4.90000000                                                           | CUSIP: 05463HAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5715000 | PA      | $5435364.99   | 0.35%             | 2040-01-15      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| THRST 2021-1A 4.163% 07/15/27  | THRUST ENGINE LEASING 2021 DAC SER 2021-1A CL A REGD 144A P/P 4.16300000                             | CUSIP: 88603UAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4246627 | PA      | $4124535.45   | 0.26%             | 2040-07-15      | Fixed         | 4.16%                 | Yes           |                  2 | On Loan: No      |
| US TREAS BDS 1.75% 08/15/41    | UNITED STATES TREASURY BOND 1.75000000                                                               | CUSIP: 912810TA6<br>LEI: N/A                  | Long             | DBT              | UST               | US        |   3900000 | PA      | $2610257.83   | 0.17%             | 2041-08-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| GLADSTONE CAPI 5.125% 01/31/26 | GLADSTONE CAPITAL CORP REGD 5.12500000                                                               | CUSIP: 376535AC4<br>LEI: 549300AWMOT9JR1SIJ74 | Long             | DBT              | CORP              | US        |   2330000 | PA      | $2317627.70   | 0.15%             | 2026-01-31      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| T/L OCM SYSTEM 0% 03/02/2028   | T/L OCM SYSTEM ONE BUYER CTB   LLC REGD ZCP TERM LOAN 0.00000000                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   8573470 | PA      | $8552035.88   | 0.55%             | 2028-03-02      | Variable      | 8.05%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING  6.65% 02/01/33 | ATHENE HOLDING LTD REGD 6.65000000                                                                   | CUSIP: 04686JAF8<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1465032.25   | 0.09%             | 2033-02-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| BXMT 2020-FL2 A V/R 07/15/22   | BXMT 2020-FL2 LTD SER 2020-FL2 CL A V/R REGD 144A P/P 5.59261000                                     | CUSIP: 12434LAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    363561 | PA      | $361329.70    | 0.02%             | 2038-02-15      | Variable      | 5.59%                 | Yes           |                  2 | On Loan: No      |
| BLUE OWL CREDIT  5.8% 03/15/30 | BLUE OWL CREDIT INCOME REGD 144A P/P 5.80000000                                                      | CUSIP: 09581CAC5<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |   5990000 | PA      | $5865434.60   | 0.37%             | 2030-03-15      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| T/L A-AG US GSI 0% 10/08/29    | T/L A-AG US GSI BIDCO INC      REGD 0.00000000                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   5060000 | PA      | $5009400.00   | 0.32%             | 2029-10-08      | Variable      | 9.30%                 | No            |                  2 | On Loan: No      |
| MED 2024-MOB A V/R 05/15/29    | MED COMMERCIAL MORTGAGE TRUST 2024-MOB SER 2024-MOB CL A V/R REGD 144A P/P 5.91337000                | CUSIP: 55287BAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5240000 | PA      | $5212056.65   | 0.33%             | 2041-05-15      | Variable      | 5.91%                 | Yes           |                  2 | On Loan: No      |
| STHWK 2019-4A A1 V/R 07/20/32  | SOUTHWICK PARK CLO LLC SER 2019-4A CL A1R V/R REGD 144A P/P 5.59108000                               | CUSIP: 846031AN2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2209136 | PA      | $2203127.24   | 0.14%             | 2032-07-20      | Variable      | 5.59%                 | Yes           |                  2 | On Loan: No      |
| RMIT 2022-1 A 3.07% 05/15/26   | REGIONAL MANAGEMENT ISSUANCE TRUST 2022-1 SER 2022-1 CL A REGD 144A P/P 3.07000000                   | CUSIP: 75907DAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4058902 | PA      | $4019044.21   | 0.26%             | 2032-03-15      | Fixed         | 3.07%                 | Yes           |                  2 | On Loan: No      |
| NATWEST GROUP PLC V/R 11/15/28 | NATWEST GROUP PLC REGD V/R 5.66081100                                                                | CUSIP: 639057AR9<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   5175000 | PA      | $5183906.85   | 0.33%             | 2028-11-15      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| MARS INC 5% 03/01/32           | MARS INC REGD 144A P/P 5.00000000                                                                    | CUSIP: 571676AZ8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   5925000 | PA      | $5972480.11   | 0.38%             | 2032-03-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CAUTO 2023-1A A 6.5% 09/15/28  | CARS-DB7 LP SER 2023-1A CL A2 REGD 144A P/P 6.50000000                                               | CUSIP: 12510HAT7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3383875 | PA      | $3429351.23   | 0.22%             | 2053-09-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO & COM V/R 04/23/29 | WELLS FARGO & COMPANY REGD V/R 4.97000000                                                            | CUSIP: 95000U3T8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   5195000 | PA      | $5260486.25   | 0.34%             | 2029-04-23      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| US TREAS BDS 3.625% 02/15/53   | UNITED STATES TREASURY BOND 3.62500000                                                               | CUSIP: 912810TN8<br>LEI: N/A                  | Long             | DBT              | UST               | US        |  30870000 | PA      | $25549748.44  | 1.63%             | 2053-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| STATE STREET C 4.536% 02/28/28 | STATE STREET CORP REGD 4.53600000                                                                    | CUSIP: 857477CU5<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   7510000 | PA      | $7588961.72   | 0.48%             | 2028-02-28      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| ALP 2024-1A A 7.371% 10/15/36  | ALP CFO 2024 LP SER 2024-1A CL A REGD 144A P/P 7.37100000                                            | CUSIP: 00165VAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4320000 | PA      | $4289328.00   | 0.27%             | 2036-10-15      | Fixed         | 7.37%                 | Yes           |                  3 | On Loan: No      |
| T/L LUMEN TECHNO 0% 06/01/28   | T/L LUMEN TECHNOLOGIES INC     REGD 0.00000000                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    828093 | PA      | $823952.27    | 0.05%             | 2028-06-01      | Variable      | 10.32%                | No            |                  2 | On Loan: No      |
| SCOTT 2023-SF 5.909% 03/10/28  | SCOTT TRUST 2023-SFS SER 2023-SFS CL A REGD 144A P/P 5.90975000                                      | CUSIP: 810064AA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2700000 | PA      | $2761131.78   | 0.18%             | 2040-03-10      | Fixed         | 5.91%                 | Yes           |                  2 | On Loan: No      |
| US T BILL ZCP 05/01/25         | UNITED STATES TREASURY BILL ZCP 0.00000000                                                           | CUSIP: 912797ND5<br>LEI: N/A                  | Long             | STIV             | UST               | US        |  17540000 | PA      | $17540000.00  | 1.12%             | 2025-05-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL  5.583% 01/09/29 | ATHENE GLOBAL FUNDING REGD 144A P/P 5.58300000                                                       | CUSIP: 04685A3Q2<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   4360000 | PA      | $4461903.79   | 0.29%             | 2029-01-09      | Fixed         | 5.58%                 | Yes           |                  2 | On Loan: No      |
| FREMF 2024-K757 0.1% 08/25/31  | FREMF 2024-K757 MORTGAGE TRUST SER 2024-K757 CL X2A REGD 144A P/P 0.10000000                         | CUSIP: 30339MAQ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        | 105880000 | PA      | $487619.75    | 0.03%             | 2061-10-25      | Variable      | 0.10%                 | Yes           |                  2 | On Loan: No      |
| HAT HOLDINGS I  3.75% 09/15/30 | HAT HOLDINGS I LLC/HAT REGD 144A P/P 3.75000000                                                      | CUSIP: 418751AD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2020984.01   | 0.13%             | 2030-09-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| T/L CLEARWATER ANA 0% 02/07/32 | T/L CLEARWATER ANALYTICS LLC   REGD 0.00000000                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   5480000 | PA      | $5452600.00   | 0.35%             | 2032-02-07      | Variable      | 6.52%                 | No            |                  2 | On Loan: No      |
| XPLR INFRASTRUCTU ZCP 11/15/25 | XPLR INFRASTRUCTURE LP REGD ZCP 144A P/P CONVERTIBLE 0.00000000                                      | CUSIP: 65341BAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10055000 | PA      | $9652800.00   | 0.62%             | 2025-11-15      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| SIDC 2023-3A A2 5.9% 10/25/28  | STACK INFRASTRUCTURE ISSUER LLC SER 2023-3A CL A2 REGD 144A P/P 5.90000000                           | CUSIP: 85236KAK8<br>LEI: 254900AV7V87H3A2WM57 | Long             | ABS-CBDO         | CORP              | US        |   3520000 | PA      | $3559852.03   | 0.23%             | 2048-10-25      | Fixed         | 5.90%                 | Yes           |                  2 | On Loan: No      |
| T/L IRIDIUM COMMU 0% 09/20/30  | T/L IRIDIUM COMMUNICATIONS INC REGD 0.00000000                                                       | CUSIP: 46269KAT1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5584289 | PA      | $5529339.54   | 0.35%             | 2030-09-20      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| BPR 2022-OANA C V/R 04/15/24   | BPR TRUST 2022-OANA SER 2022-OANA CL C V/R REGD 144A P/P 7.01886000                                  | CUSIP: 05592DAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1390000 | PA      | $1384772.21   | 0.09%             | 2037-04-15      | Variable      | 7.02%                 | Yes           |                  2 | On Loan: No      |
| FLORIDA POWER &  4.8% 05/15/33 | FLORIDA POWER & LIGHT CO REGD 4.80000000                                                             | CUSIP: 341081GQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3375000 | PA      | $3358819.27   | 0.21%             | 2033-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| RPIT 2019-1 A V/R 10/25/24     | RMF PROPRIETARY ISSUANCE TRUST 2019-1 SER 2019-1 CL A V/R REGD 144A P/P 2.75000000                   | CUSIP: 74968RAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    273674 | PA      | $258966.30    | 0.02%             | 2063-10-25      | Variable      | 2.75%                 | Yes           |                  2 | On Loan: No      |
| US TREAS NTS 4.125% 07/31/31   | UNITED STATES TREASURY NOTE 4.12500000                                                               | CUSIP: 91282CLD1<br>LEI: N/A                  | Long             | DBT              | UST               | US        |   9000000 | PA      | $9122343.75   | 0.58%             | 2031-07-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| T/L ALLEN MEDIA 0% 02/10/2027  | T/L ALLEN MEDIA LLC AKA ENTERT REGD 0.00000000                                                       | CUSIP: 01771JAG8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2949261 | PA      | $1445137.82   | 0.09%             | 2027-02-10      | Variable      | 9.95%                 | No            |                  2 | On Loan: No      |
| ABDLF 2022-2A 4.986% 03/01/32  | ABPCI DIRECT LENDING FUND ABS II LLC SER 2022-2A CL B REGD 144A P/P 4.98650000                       | CUSIP: 00090NAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1983460 | PA      | $1884186.99   | 0.12%             | 2032-03-01      | Fixed         | 4.99%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN EXPRES 2.55% 03/04/27 | AMERICAN EXPRESS CO REGD 2.55000000                                                                  | CUSIP: 025816CS6<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1265000 | PA      | $1227138.18   | 0.08%             | 2027-03-04      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| JPMBB 2014-C24 D V/R 10/15/24  | JPMBB COMMERCIAL MORTGAGE SECURITIES TRUS SER 2014-C24 CL D V/R REGD 144A P/P 4.20967000             | CUSIP: 46643GAY6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    240000 | PA      | $180906.77    | 0.01%             | 2047-11-15      | Variable      | 4.21%                 | Yes           |                  2 | On Loan: No      |
| UBS GROUP AG V/R 05/12/28      | UBS GROUP AG REGD V/R 144A P/P 4.75100000                                                            | CUSIP: 902613AP3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1525000 | PA      | $1528831.47   | 0.10%             | 2028-05-12      | Variable      | 4.75%                 | Yes           |                  2 | On Loan: No      |
| MUTUAL OF OMAHA GL 5% 04/01/30 | MUTUAL OF OMAHA GLOBAL REGD 144A P/P 5.00000000                                                      | CUSIP: 62829D2F6<br>LEI: 635400AL5J3F1ZPTAN95 | Long             | DBT              | CORP              | US        |   2950000 | PA      | $3006821.51   | 0.19%             | 2030-04-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN NATION 5.55% 01/28/30 | AMERICAN NATIONAL GF REGD 144A P/P MTN 5.55000000                                                    | CUSIP: 02771D2A1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2355000 | PA      | $2407299.86   | 0.15%             | 2030-01-28      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| GLOBAL ATLANTIC 7.95% 06/15/33 | GLOBAL ATLANTIC FIN CO REGD 144A P/P 7.95000000                                                      | CUSIP: 37959GAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3485000 | PA      | $3862557.90   | 0.25%             | 2033-06-15      | Fixed         | 7.95%                 | Yes           |                  2 | On Loan: No      |
| SORT 2020-1 B1 2.28% 07/15/25  | CF HIPPOLYTA ISSUER LLC SER 2020-1 CL B1 REGD 144A P/P 2.28000000                                    | CUSIP: 12530MAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1025375 | PA      | $1009492.11   | 0.06%             | 2060-07-15      | Fixed         | 2.28%                 | Yes           |                  2 | On Loan: No      |
| GCPAF 2021-1A 2.773% 04/20/29  | GOLUB CAPITAL PARTNERS ABS FUNDING 2021-1 LTD SER 2021-1A CL A2 REGD 144A P/P 2.77300000             | CUSIP: 38178HAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2930036 | PA      | $2900233.12   | 0.19%             | 2029-04-20      | Fixed         | 2.77%                 | Yes           |                  2 | On Loan: No      |
| MIDCAP FINANCIAL 4.5% 07/16/26 | MIDCAP FINANCIAL INVEST REGD 4.50000000                                                              | CUSIP: 03761UAH9<br>LEI: 5493005P14I7WFB3FW47 | Long             | DBT              | CORP              | US        |   2960000 | PA      | $2897648.55   | 0.19%             | 2026-07-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVI V/R /PERP/ | PNC FINANCIAL SERVICES REGD V/R /PERP/ SER T 3.40000000                                              | CUSIP: 693475BC8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   5770000 | PA      | $5426634.22   | 0.35%             | 2173-12-15      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| RCMT 2021-FL7 A V/R 09/25/26   | READY CAPITAL MORTGAGE FINANCING 20 SER 2021-FL7 CL A V/R REGD 144A P/P 5.64109000                   | CUSIP: 75575WAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1498774 | PA      | $1491185.99   | 0.10%             | 2036-11-25      | Variable      | 5.64%                 | Yes           |                  2 | On Loan: No      |
| WLAKE 2023-2A  6.29% 03/15/28  | WESTLAKE AUTOMOBILE RECEIVABLES TRUST 2023-2 SER 2023-2A CL C REGD 144A P/P 6.29000000               | CUSIP: 959926AF3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4830000 | PA      | $4876279.13   | 0.31%             | 2028-03-15      | Fixed         | 6.29%                 | Yes           |                  2 | On Loan: No      |
| T/L AL NGPL HOLD 0% 04/13/28   | T/L AL NGPL HOLDINGS LLC 0.00000000                                                                  | CUSIP: 01021AAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2103361 | PA      | $2096798.29   | 0.13%             | 2028-04-13      | Variable      | 6.78%                 | No            |                  2 | On Loan: No      |
| FREMF 2024-K516  V/R 01/25/29  | FREMF 2024-K516 MORTGAGE TRUST SER 2024-K516 CL C V/R REGD 144A P/P 5.92464500                       | CUSIP: 30335EAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4965000 | PA      | $4389552.53   | 0.28%             | 2029-01-25      | Variable      | 5.92%                 | Yes           |                  2 | On Loan: No      |
| COREBRIDGE FINANC V/R 12/15/52 | COREBRIDGE FINANCIAL INC REGD V/R SER WI 6.87500000                                                  | CUSIP: 21871XAP4<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   2920000 | PA      | $2952388.58   | 0.19%             | 2052-12-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| T/L EMRLD BORROWER 0% 08/04/31 | T/L EMRLD BORROWER LP REGD 0.00000000                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3298425 | PA      | $3255149.66   | 0.21%             | 2031-08-04      | Variable      | 6.80%                 | No            |                  2 | On Loan: No      |
| EQUITABLE FINANCIA 5% 03/27/30 | EQUITABLE FINANCIAL LIFE REGD 144A P/P 5.00000000                                                    | CUSIP: 29449WAT4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3965000 | PA      | $4012243.49   | 0.26%             | 2030-03-27      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| T/L UNITED AIR LI 0% 02/22/31  | T/L UNITED AIR LINES  INC      REGD 0.00000000                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   4378337 | PA      | $4360561.13   | 0.28%             | 2031-02-22      | Variable      | 6.28%                 | No            |                  2 | On Loan: No      |
| T/L GREAT OUTDOO 0% 01/23/32   | T/L GREAT OUTDOORS GROUP  LLC  REGD 0.00000000                                                       | CUSIP: 07014QAP6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6060825 | PA      | $5913849.99   | 0.38%             | 2032-01-23      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| US TREAS NTS 3.375% 05/15/33   | UNITED STATES TREASURY NOTE 3.37500000                                                               | CUSIP: 91282CHC8<br>LEI: N/A                  | Long             | DBT              | UST               | US        |   3000000 | PA      | $2864765.64   | 0.18%             | 2033-05-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| COML MTG PASS V/R 07/12/28     | COML MTG PASS THRU CTF CL A    144A VARIABLE 6.89100000                                              | CUSIP: 228925AA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4590000 | PA      | $4828550.56   | 0.31%             | 2028-07-12      | Variable      | 6.89%                 | Yes           |                  2 | On Loan: No      |
| BANK OF AMERICA COR V/R /PERP/ | BANK OF AMERICA CORP REGD V/R /PERP/ SER RR 4.37500000                                               | CUSIP: 060505GB4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5910000 | PA      | $5662823.12   | 0.36%             | 2174-04-27      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO 4.75% 02/12/30  | ELI LILLY & CO REGD 4.75000000                                                                       | CUSIP: 532457CV8<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |   3770000 | PA      | $3865163.96   | 0.25%             | 2030-02-12      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUNDI 5.5% 01/11/31 | RGA GLOBAL FUNDING REGD 144A P/P 5.50000000                                                          | CUSIP: 76209PAD5<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |   3460000 | PA      | $3556981.24   | 0.23%             | 2031-01-11      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| F/C US 10YR ULTRA FUT JUN25    | FUTURE CONTRACT ON           US 10YR ULTRA FUT JUN25 0.00000000                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |      1350 | NC      | $154891406.25 | 9.89%             |  |  |  | No            |                  1 | On Loan: No      |
| T/L AXALTA COATIN ZCP 12/20/29 | T/L AXALTA COATING SYSTEMS US H REGD ZCP TERM LOAN 0.00000000                                        | CUSIP: 90347BAP3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1765755 | PA      | $1763176.52   | 0.11%             | 2029-12-20      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITA 5.275% 06/24/27 | HYUNDAI CAPITAL AMERICA REGD 144A P/P 5.27500000                                                     | CUSIP: 44891ADB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4830000 | PA      | $4871492.94   | 0.31%             | 2027-06-24      | Fixed         | 5.28%                 | Yes           |                  2 | On Loan: No      |
| BLKMM 2021-6A ER V/R 04/20/37  | BLACKROCK RAINIER CLO VI LTD SER 2021-6A CL ER V/R REGD 144A P/P 12.51947000                         | CUSIP: 09261MBC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   7700000 | PA      | $7700000.00   | 0.49%             | 2037-04-20      | Variable      | 12.52%                | Yes           |                  2 | On Loan: No      |
| BLUE OWL TECHNO 6.75% 06/30/25 | BLUE OWL TECHNOLOGY FINA REGD 144A P/P 6.75000000                                                    | CUSIP: 691205AA6<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |   2560000 | PA      | $2559253.63   | 0.16%             | 2025-06-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| T/L ATHENAHEAL 0% 02/15/29     | T/L ATHENAHEALTH INC REGD 0.00000000                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   4541606 | PA      | $4496916.57   | 0.29%             | 2029-02-15      | Variable      | 7.32%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIF  5.05% 09/01/34 | SOUTHERN CALIF GAS CO REGD 5.05000000                                                                | CUSIP: 842434DB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4650000 | PA      | $4603316.88   | 0.29%             | 2034-09-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| HBCT 2015-HB10 C V/R 08/05/25  | HUDSONS BAY SIMON JV TRUST 2015-HBS SER 2015-HB10 CL C10 V/R REGD 144A P/P 5.62856700                | CUSIP: 44422PBY7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $972492.30    | 0.06%             | 2034-08-05      | Variable      | 5.63%                 | Yes           |                  2 | On Loan: No      |
| APOLLO GLOBAL V/R 09/15/53     | APOLLO GLOBAL MANAGEMENT      /PREFERRED/ 0.00000000                                                 | CUSIP: 03769M205<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     79000 | NS      | $2097450.00   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| HA SUSTAINABLE 6.375% 07/01/34 | HA SUSTAINABLE INF CAP REGD 144A P/P 6.37500000                                                      | CUSIP: 41068XAE0<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |  11340000 | PA      | $10888883.80  | 0.70%             | 2034-07-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| CREDIT ACCEPTAN 9.25% 12/15/28 | CREDIT ACCEPTANC REGD 144A P/P 9.25000000                                                            | CUSIP: 225310AQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4125000 | PA      | $4359337.13   | 0.28%             | 2028-12-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| OFS CAPITAL COR 4.75% 02/10/26 | OFS CAPITAL CORP REGD 4.75000000                                                                     | CUSIP: 67103BAA8<br>LEI: 549300XTK3HSWPDBJD13 | Long             | DBT              | CORP              | US        |   2095000 | PA      | $2043008.26   | 0.13%             | 2026-02-10      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GCM GROSVENOR DIV  6% 11/15/31 | GCM GROSVENOR DIV LLC REGD 144A P/P 6.00000000                                                       | CUSIP: 36831FAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2550000 | PA      | $2123895.00   | 0.14%             | 2031-11-15      | Fixed         | 6.00%                 | Yes           |                  3 | On Loan: No      |
| ROCHE HOLDINGS 4.909% 03/08/31 | ROCHE HOLDINGS INC REGD 144A P/P 4.90900000                                                          | CUSIP: 771196CK6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4210000 | PA      | $4316131.36   | 0.28%             | 2031-03-08      | Fixed         | 4.91%                 | Yes           |                  2 | On Loan: No      |
| T/L SOTERA HEAL 0% 05/30/31    | T/L SOTERA HEALTH HOLDINGS     LLC REGD 0.00000000                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   4740103 | PA      | $4719388.44   | 0.30%             | 2031-05-30      | Variable      | 7.55%                 | No            |                  2 | On Loan: No      |
| MDCP 2020-4A  2.286% 01/20/27  | ELM 2020-4 TRUST SER 2020-4A CL A2 REGD 144A P/P 2.28600000                                          | CUSIP: 28924AAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    608631 | PA      | $602247.84    | 0.04%             | 2029-10-20      | Fixed         | 2.29%                 | Yes           |                  2 | On Loan: No      |
| ARBOR REALTY TRU 4.5% 03/15/27 | ARBOR REALTY TRUST INC REGD 144A P/P SER QIB 4.50000000                                              | CUSIP: 038923AQ1<br>LEI: 549300ASFUWYQO0RW077 | Long             | DBT              | CORP              | US        |   1970000 | PA      | $1752234.09   | 0.11%             | 2027-03-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| DRSLF 2024-115A  V/R 04/18/37  | DRYDEN 115 CLO LTD SER 2024-115A CL B V/R REGD 144A P/P 6.26947000                                   | CUSIP: 26248DAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   4630000 | PA      | $4646352.70   | 0.30%             | 2037-04-18      | Variable      | 6.27%                 | Yes           |                  2 | On Loan: No      |
| T/L HILCORP ENE 0.00% 02/06/30 | T/L HILCORP ENERGY I LP 0% 0.00000000                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2620000 | PA      | $2574150.00   | 0.16%             | 2030-02-06      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| AEGON LTD V/R 04/11/48         | AEGON LTD REGD V/R 5.50000000                                                                        | CUSIP: 007924AJ2<br>LEI: O4QK7KMMK83ITNTHUG69 | Long             | DBT              | CORP              | BM        |   4175000 | PA      | $4142907.61   | 0.26%             | 2048-04-11      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| SIDC 2023-1A A2 5.9% 03/25/28  | STACK INFRASTRUCTURE ISSUER LLC SER 2023-1A CL A2 REGD 144A P/P 5.90000000                           | CUSIP: 85236KAF9<br>LEI: 254900AV7V87H3A2WM57 | Long             | ABS-CBDO         | CORP              | US        |   1150000 | PA      | $1152480.55   | 0.07%             | 2048-03-25      | Fixed         | 5.90%                 | Yes           |                  2 | On Loan: No      |
| DAVINCIRE HOLDI 5.95% 04/15/35 | DAVINCIRE HOLDINGS LTD REGD 144A P/P 5.95000000                                                      | CUSIP: 23879AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   3155000 | PA      | $3115777.89   | 0.20%             | 2035-04-15      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY V/R 10/18/33    | MORGAN STANLEY REGD V/R 6.34200000                                                                   | CUSIP: 61747YEY7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2055000 | PA      | $2200539.11   | 0.14%             | 2033-10-18      | Variable      | 6.34%                 | No            |                  2 | On Loan: No      |
| US T BILL ZCP 05/08/25         | UNITED STATES TREASURY BILL ZCP 0.00000000                                                           | CUSIP: 912797NE3<br>LEI: N/A                  | Long             | STIV             | UST               | US        |   5600000 | PA      | $5595449.77   | 0.36%             | 2025-05-08      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CGCC 2014-FL2 D V/R 11/15/31   | CG-CCRE COMMERCIAL MORTGAGE TRUST 2014-FL2 SER 2014-FL2 CL D V/R REGD 144A P/P 8.43634000            | CUSIP: 12528PAD4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    786000 | PA      | $551894.46    | 0.04%             | 2031-11-15      | Variable      | 8.44%                 | Yes           |                  2 | On Loan: No      |
| BX 2024-PALM A V/R 06/15/26    | BX 2024-PALM SER 2024-PALM CL A V/R REGD 144A P/P 5.86286000                                         | CUSIP: 05612UAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4387500 | PA      | $4375160.16   | 0.28%             | 2037-06-15      | Variable      | 5.86%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/ 7.375% 03/01/31 | CCO HLDGS LLC/CAP CORP REGD 144A P/P 7.37500000                                                      | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5110000 | PA      | $5263044.50   | 0.34%             | 2031-03-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| T/L PROPULSION 00.00% 09/14/29 | T/L PROPULSION (BC) NEWCO LLC 0.00000000                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   4430778 | PA      | $4428695.07   | 0.28%             | 2029-09-14      | Variable      | 7.55%                 | No            |                  2 | On Loan: No      |
| BAE SYSTEMS PLC 3.4% 04/15/30  | BAE SYSTEMS PLC REGD 144A P/P 3.40000000                                                             | CUSIP: 05523RAD9<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |   2220000 | PA      | $2101774.61   | 0.13%             | 2030-04-15      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| SOUTHERN CAL EDI 4.4% 09/06/26 | SOUTHERN CAL EDISON REGD 4.40000000                                                                  | CUSIP: 842400JF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4420000 | PA      | $4412071.18   | 0.28%             | 2026-09-06      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| CGNT 2024-1A  7.924% 05/25/29  | COGENT IPV4 LLC SER 2024-1A CL A2 REGD 144A P/P 7.92400000                                           | CUSIP: 19240JAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   8990000 | PA      | $9375374.33   | 0.60%             | 2054-05-25      | Fixed         | 7.92%                 | Yes           |                  2 | On Loan: No      |
| JPMORGAN CHASE &  V/R 07/22/28 | JPMORGAN CHASE & CO REGD V/R 4.97900000                                                              | CUSIP: 46647PEL6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3720000 | PA      | $3763372.74   | 0.24%             | 2028-07-22      | Variable      | 4.98%                 | No            |                  2 | On Loan: No      |
| OPTN 2021-C A 2.18% 10/08/31   | OPORTUN ISSUANCE TRUST 2021-C SER 2021-C CL A REGD 144A P/P 2.18000000                               | CUSIP: 68377WAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3775619 | PA      | $3679456.97   | 0.24%             | 2031-10-08      | Fixed         | 2.18%                 | Yes           |                  2 | On Loan: No      |
| ALEXANDER FUND 7.467% 07/31/28 | ALEXANDER FUND TRUST II REGD 144A P/P 7.46700000                                                     | CUSIP: 014916AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4160000 | PA      | $4416840.02   | 0.28%             | 2028-07-31      | Fixed         | 7.47%                 | Yes           |                  2 | On Loan: No      |
| BX 2022-CSMO C V/R 06/15/27    | BX COMMERCIAL MORTGAGE TRUST 2022-CSMO SER 2022-CSMO CL C V/R REGD 144A P/P 8.21036000               | CUSIP: 05610MAD4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4740000 | PA      | $4750368.75   | 0.30%             | 2027-06-15      | Variable      | 8.21%                 | Yes           |                  2 | On Loan: No      |
| BLACKSTONE PRIV 4.95% 09/26/27 | BLACKSTONE PRIVATE CRE REGD 144A P/P 4.95000000                                                      | CUSIP: 09261HBP1<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |   4320000 | PA      | $4279284.56   | 0.27%             | 2027-09-26      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| MDPK 2020-47A BR V/R 04/19/37  | MADISON PARK FUNDING XLVII LTD SER 2020-47A CL BR V/R REGD 144A P/P 6.21947000                       | CUSIP: 55820FAN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3060000 | PA      | $3070215.50   | 0.20%             | 2037-04-19      | Variable      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| US TREAS NTS 3.875% 08/15/34   | UNITED STATES TREASURY NOTE 3.87500000                                                               | CUSIP: 91282CLF6<br>LEI: N/A                  | Long             | DBT              | UST               | US        |  43100000 | PA      | $42217796.88  | 2.70%             | 2034-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCO V/R 10/27/28 | FIFTH THIRD BANCORP REGD V/R 6.36100000                                                              | CUSIP: 316773DJ6<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   6240000 | PA      | $6486865.07   | 0.41%             | 2028-10-27      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| BANK OF NEW YORK  V/R 04/20/29 | BANK OF NEW YORK MELLON REGD V/R SER . 4.72900000                                                    | CUSIP: 06405LAH4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2650000 | PA      | $2687408.22   | 0.17%             | 2029-04-20      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| BX 2024-GPA2 B V/R 11/15/26    | BX COMMERCIAL MORTGAGE TRUST 2024-GPA2 SER 2024-GPA2 CL B V/R REGD 144A P/P 6.21371000               | CUSIP: 12433DAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5850000 | PA      | $5844515.63   | 0.37%             | 2041-11-15      | Variable      | 6.21%                 | Yes           |                  2 | On Loan: No      |
| STELLUS CAPITA 4.875% 03/30/26 | STELLUS CAPITAL INVESTME REGD 4.87500000                                                             | CUSIP: 858568AB4<br>LEI: 5493001DZV6QC1KUSC43 | Long             | DBT              | CORP              | US        |   1775000 | PA      | $1744475.73   | 0.11%             | 2026-03-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIF 4.335% 09/13/27 | PROTECTIVE LIFE GLOBAL REGD 144A P/P 4.33500000                                                      | CUSIP: 74368CBZ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6115000 | PA      | $6105543.21   | 0.39%             | 2027-09-13      | Fixed         | 4.33%                 | Yes           |                  2 | On Loan: No      |
| LLOYDS BANKING GR V/R 03/06/29 | LLOYDS BANKING GROUP PLC REGD V/R 5.87100000                                                         | CUSIP: 539439AX7<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   2160000 | PA      | $2231691.89   | 0.14%             | 2029-03-06      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| EDGE 2024-1 A2 6% 07/25/29     | EDGECONNEX DATA CENTERS ISSUER LLC SER 2024-1 CL A2 REGD 144A P/P 6.00000000                         | CUSIP: 28000XAB4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4435313 | PA      | $4444561.10   | 0.28%             | 2054-07-27      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| SWISS RE FINANCE  V/R 04/02/49 | SWISS RE FINANCE LUX REGD V/R 144A P/P 5.00000000                                                    | CUSIP: 87089NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   4830000 | PA      | $4752695.85   | 0.30%             | 2049-04-02      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| US TREAS BDS 3.5% 02/15/39     | UNITED STATES TREASURY BOND 3.50000000                                                               | CUSIP: 912810QA9<br>LEI: N/A                  | Long             | DBT              | UST               | US        |  66050000 | PA      | $59932634.60  | 3.83%             | 2039-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| VDCR 2023-1A A2A 5% 09/15/28   | RETAINED VANTAGE DATA CENTERS ISSUER LLC SER 2023-1A CL A2A REGD 144A P/P 5.00000000                 | CUSIP: 76134KAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5240000 | PA      | $5199705.97   | 0.33%             | 2048-09-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| AXON ENTERPRIS 6.125% 03/15/30 | AXON ENTERPRISE INC REGD 144A P/P 6.12500000                                                         | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |   6100000 | PA      | $6206163.36   | 0.40%             | 2030-03-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| CAALT 2023-1A  7.71% 11/16/26  | CREDIT ACCEPTANCE AUTO LOAN TRUST 2023-1 SER 2023-1A CL C REGD 144A P/P 7.71000000                   | CUSIP: 224927AE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2330000 | PA      | $2404371.27   | 0.15%             | 2033-07-15      | Fixed         | 7.71%                 | Yes           |                  2 | On Loan: No      |
| MTN 2022-LPFL B V/R 03/15/27   | MTN COMMERCIAL MORTGAGE TRUST 2022-LPFL SER 2022-LPFL CL B V/R REGD 144A P/P 6.22560000              | CUSIP: 62475WAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5860000 | PA      | $5838025.00   | 0.37%             | 2039-03-15      | Variable      | 6.23%                 | Yes           |                  2 | On Loan: No      |
| SCENTRE GROUP TRU V/R 09/24/80 | SCENTRE GROUP TRUST 2 REGD V/R 144A P/P 5.12500000                                                   | CUSIP: 76025LAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |   1345000 | PA      | $1313432.04   | 0.08%             | 2080-09-24      | Variable      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| WESTF 2023-A A 8% 10/15/29     | WILLIS ENGINE STRUCTURED TRUST VII SER 2023-A CL A REGD 144A P/P 8.00000000                          | CUSIP: 97064YAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1954813 | PA      | $2035371.45   | 0.13%             | 2048-10-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| CFG 2025-1 A 6.47% 03/25/29    | CFG INVESTMENTS LTD SER 2025-1 CL A REGD 144A P/P 6.47000000                                         | CUSIP: 12528GAM4<br>LEI: 549300C3OD89QRWQ1Y92 | Long             | ABS-CBDO         | CORP              | KY        |   7530000 | PA      | $7572347.21   | 0.48%             | 2036-03-25      | Fixed         | 6.47%                 | Yes           |                  2 | On Loan: No      |
| MACY'S RETAIL  5.875% 03/15/30 | MACY'S RETAIL HLDGS LLC REGD 144A P/P 5.87500000                                                     | CUSIP: 55617LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3563000 | PA      | $3318189.48   | 0.21%             | 2030-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| ENSTAR GROUP LTD V/R 04/01/45  | ENSTAR GROUP LTD REGD V/R 144A P/P 7.50000000                                                        | CUSIP: 29359UAD1<br>LEI: 213800AMAL5QFXVUCN04 | Long             | DBT              | CORP              | BM        |   4460000 | PA      | $4472354.20   | 0.29%             | 2045-04-01      | Variable      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| BMW US CAPITAL  5.05% 03/21/30 | BMW US CAPITAL LLC REGD 144A P/P 5.05000000                                                          | CUSIP: 05565ECY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3835000 | PA      | $3880200.00   | 0.25%             | 2030-03-21      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| T/L PRIORITY HOL 0% 05/16/31   | T/L PRIORITY HOLDINGS LLC      REGD 0.00000000                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DE        |   6626788 | PA      | $6593653.79   | 0.42%             | 2031-05-16      | Variable      | 9.07%                 | No            |                  2 | On Loan: No      |
| MUNICH RE V/R 05/23/42         | MUNICH RE REGD V/R 144A P/P 5.87500000                                                               | CUSIP: 62582PAA8<br>LEI: 529900MUF4C20K50JS49 | Long             | DBT              | CORP              | DE        |   3580000 | PA      | $3616927.70   | 0.23%             | 2042-05-23      | Variable      | 5.88%                 | Yes           |                  2 | On Loan: No      |
| MET LIFE GLOB FU 3.3% 03/21/29 | MET LIFE GLOB FUNDING I REGD 144A P/P MTN 3.30000000                                                 | CUSIP: 59217GEZ8<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |   1690000 | PA      | $1624924.94   | 0.10%             | 2029-03-21      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| CAUTO 2024-2A  5.25% 05/15/29  | CAPITAL AUTOMOTIVE REIT SER 2024-2A CL A2 REGD 144A P/P 5.25000000                                   | CUSIP: 12510HAX8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5634688 | PA      | $5601087.29   | 0.36%             | 2054-05-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| CION INVESTMENT 7.5% 12/30/29  | CION INVESTMENT CORP          /PREFERRED/ 0.00000000                                                 | CUSIP: 17259U303<br>LEI: 549300XN70JLF94XKX80 | Long             | EP               | CORP              | US        |    215000 | NS      | $5395403.50   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| RCLT 2019-2 A V/R 12/27/44     | READYCAP LENDING SMALL BUSINESS LOAN TRUST 2 SER 2019-2 CL A V/R REGD 144A P/P 7.00000000            | CUSIP: 75576QAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    140862 | PA      | $140570.32    | 0.01%             | 2044-12-27      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER HOLDING V/R 03/20/31 | SANTANDER HOLDINGS USA REGD V/R 5.74100000                                                           | CUSIP: 80282KBQ8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5115000 | PA      | $5167736.88   | 0.33%             | 2031-03-20      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| SIRIUSPOINT LTD 7% 04/05/29    | SIRIUSPOINT LTD REGD 7.00000000                                                                      | CUSIP: 82969BAA0<br>LEI: 549300OGXFI85N3YZZ51 | Long             | DBT              | CORP              | BM        |   3735000 | PA      | $3871943.70   | 0.25%             | 2029-04-05      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG V/R 01/12/34      | UBS GROUP AG REGD V/R 144A P/P 5.95900000                                                            | CUSIP: 902613AV0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   4025000 | PA      | $4179697.05   | 0.27%             | 2034-01-12      | Variable      | 5.96%                 | Yes           |                  2 | On Loan: No      |
| CGCMT 2023-PRM3  V/R 07/10/28  | CITIGROUP COMMERCIAL MORTGAGE TRUST 2023-PRM3 SER 2023-PRM3 CL B V/R REGD 144A P/P 6.57172100        | CUSIP: 17331LAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2870000 | PA      | $2959367.78   | 0.19%             | 2028-07-10      | Variable      | 6.57%                 | Yes           |                  2 | On Loan: No      |
| CAALT 2024-3A  4.85% 01/17/28  | CREDIT ACCEPTANCE AUTO LOAN TRUST 2024-3 SER 2024-3A CL B REGD 144A P/P 4.85000000                   | CUSIP: 22535LAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5860000 | PA      | $5877281.14   | 0.38%             | 2034-11-15      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| T/L STONEPEAK 0% 02/04/2032    | T/L STONEPEAK NILE PARENT LLC  REGD 0.00000000                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   7175000 | PA      | $7041975.50   | 0.45%             | 2032-02-04      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| LCM 42A B V/R 01/15/38         | LCM 42 LTD SER 42A CL B V/R REGD 144A P/P 6.05610000                                                 | CUSIP: 52113AAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   8540000 | PA      | $8544480.08   | 0.55%             | 2038-01-15      | Variable      | 6.06%                 | Yes           |                  2 | On Loan: No      |
| SPGN 2022-TFLM D V/R 02/25/27  | SPGN 2022-TFLM MORTGAGE TRUST SER 2022-TFLM CL D V/R REGD 144A P/P 7.82186000                        | CUSIP: 78473HAL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1310000 | PA      | $1257707.55   | 0.08%             | 2039-02-15      | Variable      | 7.82%                 | Yes           |                  2 | On Loan: No      |
| F&G ANNUITIES &  7.4% 01/13/28 | F&G ANNUITIES & LIFE INC REGD SER WI 7.40000000                                                      | CUSIP: 30190AAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5540000 | PA      | $5786579.36   | 0.37%             | 2028-01-13      | Fixed         | 7.40%                 | No            |                  2 | On Loan: No      |
| COMERICA BANK 4% 07/27/25      | COMERICA BANK REGD SER BKNT 4.00000000                                                               | CUSIP: 200339DX4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2665000 | PA      | $2651822.32   | 0.17%             | 2025-07-27      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SDCP 2023-1 A2 6.25% 04/20/28  | SABEY DATA CENTER ISSUER LLC SER 2023-1 CL A2 REGD 144A P/P 6.25000000                               | CUSIP: 78520EAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1795000 | PA      | $1803330.95   | 0.12%             | 2048-04-20      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| CRESCENT CAP BDC 5% 5/25/26/   | CRESCENT CAP BDC INC          /PREFERRED/ 0.00000000                                                 | CUSIP: 225655208<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     99600 | NS      | $2460120.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SCULTOR ALTERN SOL 6% 05/15/29 | SCULTOR ALTERN SOLUTIONS REGD 144A P/P 6.00000000                                                    | CUSIP: 811243AE4<br>LEI: 549300MT2IHVJVYVLW85 | Long             | DBT              | CORP              | US        |   4620000 | PA      | $4112724.00   | 0.26%             | 2029-05-15      | Fixed         | 6.00%                 | Yes           |                  3 | On Loan: No      |
| OLIN CORP 6.625% 04/01/33      | OLIN CORP REGD 144A P/P 6.62500000                                                                   | CUSIP: 680665AN6<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |   6570000 | PA      | $6233957.64   | 0.40%             | 2033-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| NESTLE CAPITAL  4.75% 03/12/31 | NESTLE CAPITAL CORP REGD 144A P/P 4.75000000                                                         | CUSIP: 64105MAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4765000 | PA      | $4876162.07   | 0.31%             | 2031-03-12      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| ALLY FINANCIAL IN V/R 01/03/30 | ALLY FINANCIAL INC REGD V/R 6.84800000                                                               | CUSIP: 02005NBU3<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   4365000 | PA      | $4530460.74   | 0.29%             | 2030-01-03      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC V/R 03/02/34 | NATWEST GROUP PLC REGD V/R 6.01600000                                                                | CUSIP: 639057AH1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1780000 | PA      | $1854629.08   | 0.12%             | 2034-03-02      | Variable      | 6.02%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPE 4.375% 01/15/27 | STARWOOD PROPERTY TRUST REGD 144A P/P 4.37500000                                                     | CUSIP: 85571BAY1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   2065000 | PA      | $2025680.34   | 0.13%             | 2027-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| TOWN 2025-STAY A V/R 03/15/27  | INTOWN 2025-STAY MORTGAGE TRUST SER 2025-STAY CL A V/R REGD 144A P/P 5.67200000                      | CUSIP: 46117WAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   9760000 | PA      | $9625800.00   | 0.61%             | 2042-03-15      | Variable      | 5.67%                 | Yes           |                  2 | On Loan: No      |
| OMFIT 2022-S1  4.13% 08/14/26  | ONEMAIN FINANCIAL ISSUANCE TRUST 2022-S1 SER 2022-S1 CL A REGD 144A P/P 4.13000000                   | CUSIP: 68267HAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2930000 | PA      | $2917029.18   | 0.19%             | 2035-05-14      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| T/L DELOS AIRCRAFT 0% 10/31/27 | T/L DELOS AIRCRAFT DESIGNATED  ACTIVITY COMPANY REGD 0.00000000                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | IE        |   4518571 | PA      | $4516944.74   | 0.29%             | 2027-10-31      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL  V/R 01/24/30 | TRUIST FINANCIAL CORP REGD V/R MTN 5.43500000                                                        | CUSIP: 89788MAR3<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   4445000 | PA      | $4541603.67   | 0.29%             | 2030-01-24      | Variable      | 5.43%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDING V/R 03/09/29 | SANTANDER HOLDINGS USA REGD V/R 6.49900000                                                           | CUSIP: 80282KBF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2360000 | PA      | $2446879.81   | 0.16%             | 2029-03-09      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| T/L CONNECT FINCO 0% 09/27/29  | T/L CONNECT FINCO SARL 0% 0.00000000                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  11338867 | PA      | $10155429.07  | 0.65%             | 2029-09-27      | Variable      | 8.82%                 | No            |                  2 | On Loan: No      |
| SCENTRE GROUP  3.625% 01/28/26 | SCENTRE GROUP TRUST 1/2 REGD 144A P/P 3.62500000                                                     | CUSIP: 80622GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |   1945000 | PA      | $1931910.62   | 0.12%             | 2026-01-28      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| CAPITAL ONE FIN 3.65% 05/11/27 | CAPITAL ONE FINANCIAL CO REGD 3.65000000                                                             | CUSIP: 14040HCE3<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   2345000 | PA      | $2305984.66   | 0.15%             | 2027-05-11      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| RMIT 2024-1 A 5.83% 06/15/28   | REGIONAL MANAGEMENT ISSUANCE TRUST 2024-1 SER 2024-1 CL A REGD 144A P/P 5.83000000                   | CUSIP: 758983AA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5510000 | PA      | $5645455.09   | 0.36%             | 2036-07-15      | Fixed         | 5.83%                 | Yes           |                  2 | On Loan: No      |
| STRAT CREDIT OP 4.25% 04/01/26 | STRAT CREDIT OPP PARTNRS REGD P/P 4.25000000                                                         | CUSIP: 86275#AA1<br>LEI: 5493003CSKFS2RY0JR63 | Long             | DBT              | CORP              | US        |   2655000 | PA      | $2639834.64   | 0.17%             | 2026-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN COASTA 7.25% 12/15/27 | AMERICAN COASTAL INSURAN REGD 7.25000000                                                             | CUSIP: 910710AA0<br>LEI: 5299002P9105LJQA8G51 | Long             | DBT              | CORP              | US        |   2940000 | PA      | $2763600.00   | 0.18%             | 2027-12-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MDPK 2024-67A B V/R 04/25/37   | MADISON PARK FUNDING LXVII LTD SER 2024-67A CL B V/R REGD 144A P/P 6.33177000                        | CUSIP: 55821YAC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4340000 | PA      | $4357624.74   | 0.28%             | 2037-04-25      | Variable      | 6.33%                 | Yes           |                  2 | On Loan: No      |
| GOLUB CAPITAL CA 5.8% 09/12/29 | GOLUB CAPITAL CAP FND REGD 144A P/P 5.80000000                                                       | CUSIP: 38179RAA3<br>LEI: 254900B5KBW6OY1F9951 | Long             | DBT              | CORP              | US        |   3940000 | PA      | $3877001.13   | 0.25%             | 2029-09-12      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| MDCP 2020-3A  2.954% 11/20/26  | ELM 2020-3 TRUST SER 2020-3A CL A2 REGD 144A P/P 2.95400000                                          | CUSIP: 289338AB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    172426 | PA      | $170657.37    | 0.01%             | 2029-08-20      | Fixed         | 2.95%                 | Yes           |                  2 | On Loan: No      |
| FHMS K753 X3 V/R 12/25/30      | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CERTIFI SER K753 CL X3 V/R 5.20856400                | CUSIP: 3137HB2P8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7660000 | PA      | $1707037.89   | 0.11%             | 2030-12-25      | Variable      | 5.21%                 | No            |                  2 | On Loan: No      |
| XPLR INFRASTRUCT 2.5% 06/15/26 | XPLR INFRASTRUCTURE LP REGD 144A P/P CONVERTIBLE 2.50000000                                          | CUSIP: 65341BAG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8440000 | PA      | $7933600.00   | 0.51%             | 2026-06-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY V/R 04/20/28    | MORGAN STANLEY REGD V/R 4.21000000                                                                   | CUSIP: 61747YER2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1989181.34   | 0.13%             | 2028-04-20      | Variable      | 4.21%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC V/R 03/09/34 | HSBC HOLDINGS PLC REGD V/R 6.25400000                                                                | CUSIP: 404280DV8<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   3285000 | PA      | $3473558.67   | 0.22%             | 2034-03-09      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| HAT HOLDINGS I 3.375% 06/15/26 | HAT HOLDINGS I LLC/HAT REGD 144A P/P 3.37500000                                                      | CUSIP: 418751AE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2065000 | PA      | $2003248.24   | 0.13%             | 2026-06-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| F/C US 10YR NOTE (CBT)JUN25    | FUTURE CONTRACT ON           US 10YR NOTE (CBT)JUN25 0.00000000                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |      1410 | NC      | $158228437.50 | 10.11%            |  |  |  | No            |                  1 | On Loan: No      |
| SUNOCO LP 7% 05/01/29          | SUNOCO LP REGD 144A P/P 7.00000000                                                                   | CUSIP: 86765KAB5<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |   4480000 | PA      | $4606170.24   | 0.29%             | 2029-05-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| T/L GEON PERFORMANC 0% 8/18/28 | T/L GEON PERFORMANCE           SOLUTIONS LLC REGD 0.00000000                                         | CUSIP: 37254YAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7320630 | PA      | $7032416.37   | 0.45%             | 2028-08-18      | Variable      | 8.81%                 | No            |                  2 | On Loan: No      |
| STEWART INFORMAT 3.6% 11/15/31 | STEWART INFORMATION SERV REGD 3.60000000                                                             | CUSIP: 86038AAA0<br>LEI: 529900TV1XI0PLKENU10 | Long             | DBT              | CORP              | US        |   1895000 | PA      | $1700499.72   | 0.11%             | 2031-11-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| EF HOLD/EF KY/ 5.875% 04/01/27 | EF HOLD/EF KY/ELL KY/TRS REGD 144A P/P SER QIB 5.87500000                                            | CUSIP: 26845AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   5075000 | PA      | $4912215.21   | 0.31%             | 2027-04-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| OXFORD FIN LLC 6.375% 02/01/27 | OXFORD FIN LLC/CO-ISS II REGD 144A P/P 6.37500000                                                    | CUSIP: 69145LAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7300000 | PA      | $7274658.05   | 0.46%             | 2027-02-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| ONDK 2024-2A A 4.98% 10/18/27  | ONDECK ASSET SECURITIZATION TRUST IV LLC SER 2024-2A CL A REGD 144A P/P 4.98000000                   | CUSIP: 67108SAD0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4600000 | PA      | $4556326.68   | 0.29%             | 2031-10-17      | Fixed         | 4.98%                 | Yes           |                  2 | On Loan: No      |
| SDART 2023-5 C 6.43% 12/15/27  | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2023-5 SER 2023-5 CL C REGD 6.43000000                        | CUSIP: 80286PAE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2240000 | PA      | $2327348.35   | 0.15%             | 2031-02-18      | Fixed         | 6.43%                 | No            |                  2 | On Loan: No      |
| ASB BANK LIMITED V/R 06/17/32  | ASB BANK LIMITED REGD V/R 144A P/P 5.28400000                                                        | CUSIP: 04342JAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | NZ        |   2790000 | PA      | $2802854.51   | 0.18%             | 2032-06-17      | Variable      | 5.28%                 | Yes           |                  2 | On Loan: No      |
| CYRUS 2025-1A  5.91% 02/20/30  | CYRUSONE DATA CENTERS ISSUER I LLC SER 2025-1A CL A2 REGD 144A P/P 5.91000000                        | CUSIP: 23284BAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4100000 | PA      | $4185876.96   | 0.27%             | 2050-02-20      | Fixed         | 5.91%                 | Yes           |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC V/R 11/03/28 | HSBC HOLDINGS PLC REGD V/R 7.39000000                                                                | CUSIP: 404280DR7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   2140000 | PA      | $2274909.09   | 0.15%             | 2028-11-03      | Variable      | 7.39%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST O 8.625% 03/15/33 | XPLR INFRAST OPERATING REGD 144A P/P 8.62500000                                                      | CUSIP: 98380MAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7675000 | PA      | $7658836.37   | 0.49%             | 2033-03-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| BANK OF NOVA S 2.951% 03/11/27 | BANK OF NOVA SCOTIA REGD SER FXD 2.95100000                                                          | CUSIP: 06418BAE8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   3095000 | PA      | $3022259.70   | 0.19%             | 2027-03-11      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| T/L MIP V WASTE 0% 12/08/28    | T/L MIP V WASTE LLC REGD 0.00000000                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2978073 | PA      | $2976226.28   | 0.19%             | 2028-12-08      | Variable      | 7.28%                 | No            |                  2 | On Loan: No      |
| F/C US LONG BOND(CBT) JUN25    | FUTURE CONTRACT ON           US LONG BOND(CBT) JUN25 0.00000000                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |       259 | NC      | $30205875.00  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ADMSO 2023-1  6.967% 07/15/28  | ADAMS OUTDOOR ADVERTISING LP SER 2023-1 CL A2 REGD 144A P/P 6.96700000                               | CUSIP: 006346AW0<br>LEI: 549300BTFXNHDCUHER30 | Long             | ABS-CBDO         | CORP              | US        |   2630000 | PA      | $2711614.95   | 0.17%             | 2053-07-15      | Fixed         | 6.97%                 | Yes           |                  2 | On Loan: No      |
| BJETS 2024-1A 6.197% 05/15/30  | BUSINESS JET SECURITIES 2024-1 LLC SER 2024-1A CL A REGD 144A P/P 6.19700000                         | CUSIP: 12327CAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4135508 | PA      | $4188765.90   | 0.27%             | 2039-05-15      | Fixed         | 6.20%                 | Yes           |                  2 | On Loan: No      |
| ELLINGTON FINANCIAL /PFD/      | ELLINGTON FINANCIAL           /PREFERRED/ 0.00000000                                                 | CUSIP: 28852N406<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EP               | CORP              | US        |     66200 | NS      | $1615280.00   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| T/L MPH ACQUIS 0% 12/31/30     | T/L MPH ACQUISITION HOLDINGS   LLC REGD 0.00000000                                                   | CUSIP: 55328HAQ4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5693078 | PA      | $4497531.37   | 0.29%             | 2030-12-31      | Variable      | 9.14%                 | No            |                  2 | On Loan: No      |
| T/L MEGA BROADB 0% 11/12/2027  | T/L MEGA BROADBAND INVESTMENTS LLC REGD 0.00000000                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   5499779 | PA      | $5475744.62   | 0.35%             | 2027-11-12      | Variable      | 7.56%                 | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC F V/R 10/15/54 | GLOBAL ATLANTIC FIN CO REGD V/R 144A P/P 7.95000000                                                  | CUSIP: 37959GAG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1975000 | PA      | $2005650.03   | 0.13%             | 2054-10-15      | Variable      | 7.95%                 | Yes           |                  2 | On Loan: No      |
| T/L ALLSPRING BUY ZCP 11/01/30 | T/L ALLSPRING BUYER LLC REGD ZCP TERM LOAN 0.00000000                                                | CUSIP: 98922AAE6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5591764 | PA      | $5572808.02   | 0.36%             | 2030-11-01      | Variable      | 7.31%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPE 5.05% 03/15/29 | KEURIG DR PEPPER INC REGD 5.05000000                                                                 | CUSIP: 49271VAT7<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   3170000 | PA      | $3227093.63   | 0.21%             | 2029-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| PENNANTPARK FLO 4.25% 04/01/26 | PENNANTPARK FLOATING RAT REGD 4.25000000                                                             | CUSIP: 70806AAA4<br>LEI: 529900BH3IP6381K4L72 | Long             | DBT              | CORP              | US        |   7360000 | PA      | $7177378.38   | 0.46%             | 2026-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AESOP 2023-4A  5.49% 06/20/28  | AVIS BUDGET RENTAL CAR FUNDING AESOP LLC SER 2023-4A CL A REGD 144A P/P 5.49000000                   | CUSIP: 05377RGY4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5200000 | PA      | $5313665.76   | 0.34%             | 2029-06-20      | Fixed         | 5.49%                 | Yes           |                  2 | On Loan: No      |
| AVIS BUDGET CAR 8.25% 01/15/30 | AVIS BUDGET CAR/FINANCE REGD 144A P/P 8.25000000                                                     | CUSIP: 053773BJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3670000 | PA      | $3661559.00   | 0.23%             | 2030-01-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| SILVER POINT SPEC 4% 11/4/26   | SILVER POINT SPECIALTY CREDIT FUND LP SERIES 2021A SNR NOTE /RESTRICTED/ 4% DUE 11/4/2026 4.00000000 | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   3050000 | PA      | $2880420.00   | 0.18%             | 2026-11-04      | Fixed         | 4.00%                 | No            |                  3 | On Loan: No      |
| ACADIAN ASSET MA 4.8% 07/27/26 | ACADIAN ASSET MANAGEMENT REGD 4.80000000                                                             | CUSIP: 10948WAA1<br>LEI: 5493004FTLQNQTBOP608 | Long             | DBT              | CORP              | US        |   2338000 | PA      | $2287472.29   | 0.15%             | 2026-07-27      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| NFMOT 2023-1A  5.74% 03/15/26  | NEXTGEAR FLOORPLAN MASTER OWNER TRUST SER 2023-1A CL A2 REGD 144A P/P 5.74000000                     | CUSIP: 65345GAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5440000 | PA      | $5497201.60   | 0.35%             | 2028-03-15      | Fixed         | 5.74%                 | Yes           |                  2 | On Loan: No      |
| T/L ELANCO ANIMAL 0% 8/1/27    | T/L ELANCO ANIMAL HEALTH       INCORPORATED REGD 0.00000000                                          | CUSIP: 28414BAF3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1546971 | PA      | $1536791.58   | 0.10%             | 2027-08-01      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| SPGN 2022-TFLM C V/R 02/25/27  | SPGN 2022-TFLM MORTGAGE TRUST SER 2022-TFLM CL C V/R REGD 144A P/P 6.97186000                        | CUSIP: 78473HAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2270000 | PA      | $2196378.68   | 0.14%             | 2039-02-15      | Variable      | 6.97%                 | Yes           |                  2 | On Loan: No      |
| BANK LEUMI LE- 5.125% 07/27/27 | BANK LEUMI LE-ISRAEL REGD P/P 5.12500000                                                             | CUSIP: M1R786AY4<br>LEI: 7JDSZWRGUQY2DSTWCR57 | Long             | DBT              | CORP              | IL        |   1635000 | PA      | $1638315.78   | 0.10%             | 2027-07-27      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| OMFIT 2023-2A  6.17% 02/14/28  | ONEMAIN FINANCIAL ISSUANCE TRUST 2023-2 SER 2023-2A CL B REGD 144A P/P 6.17000000                    | CUSIP: 68269HAB1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6610000 | PA      | $6826667.87   | 0.44%             | 2036-09-15      | Fixed         | 6.17%                 | Yes           |                  2 | On Loan: No      |
| T/L TPF II POWER 0% 10/02/2025 | T/L TPF II POWER LLC TL B 0.00000000                                                                 | CUSIP: 87264NAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7770350 | PA      | $7647344.93   | 0.49%             | 2025-10-02      | Variable      | 9.57%                 | No            |                  2 | On Loan: No      |
| F&G GLOBAL FUN 5.875% 06/10/27 | F&G GLOBAL FUNDING REGD 144A P/P MTN 5.87500000                                                      | CUSIP: 30321L2G6<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |   4110000 | PA      | $4214759.95   | 0.27%             | 2027-06-10      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| LLOYDS BANKING GR V/R 11/15/33 | LLOYDS BANKING GROUP PLC REGD V/R 7.95300000                                                         | CUSIP: 539439AW9<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   2025000 | PA      | $2301174.93   | 0.15%             | 2033-11-15      | Variable      | 7.95%                 | No            |                  2 | On Loan: No      |
| HPEFS 2023-1A  5.73% 09/20/25  | HPEFS EQUIPMENT TRUST 2023-1 SER 2023-1A CL B REGD 144A P/P 5.73000000                               | CUSIP: 40443DAD4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2980000 | PA      | $2987529.57   | 0.19%             | 2028-04-20      | Fixed         | 5.73%                 | Yes           |                  2 | On Loan: No      |
| T/L ROCKPOINT 0% 09/18/31      | T/L ROCKPOINT GAS STORAGE      PARTNERS LP   REGD 0.00000000                                         | CUSIP: 77381HAC3<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   9376500 | PA      | $9250479.84   | 0.59%             | 2031-09-18      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COM V/R 06/02/28 | WELLS FARGO & COMPANY REGD V/R MTN 2.39300000                                                        | CUSIP: 95000U2S1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1165000 | PA      | $1116883.58   | 0.07%             | 2028-06-02      | Variable      | 2.39%                 | No            |                  2 | On Loan: No      |
| ASCOT GROUP LTD 4.25% 12/15/30 | ASCOT GROUP LTD REGD 144A P/P 4.25000000                                                             | CUSIP: 04365XAA6<br>LEI: 213800DJV7WRJBE2II28 | Long             | DBT              | CORP              | BM        |   2880000 | PA      | $2496184.44   | 0.16%             | 2030-12-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| ONCOR ELECTRIC D 4.3% 05/15/28 | ONCOR ELECTRIC DELIVERY REGD 4.30000000                                                              | CUSIP: 68233JCQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3515302.32   | 0.22%             | 2028-05-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPIT 4.9% 03/07/31 | JOHN DEERE CAPITAL CORP REGD MTN 4.90000000                                                          | CUSIP: 24422EXN4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4710000 | PA      | $4824812.51   | 0.31%             | 2031-03-07      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| RENAISSANCERE H 5.75% 06/05/33 | RENAISSANCERE HOLDINGS L REGD 5.75000000                                                             | CUSIP: 75968NAE1<br>LEI: EK6GB9U3U58PDI411C94 | Long             | DBT              | CORP              | BM        |   5720000 | PA      | $5837732.64   | 0.37%             | 2033-06-05      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| T/L BCP RENAISSANC 0% 10/31/28 | T/L BCP RENAISSANCE PARENT     L.L.C. 0% 0.00000000                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2682686 | PA      | $2673967.38   | 0.17%             | 2028-10-31      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPER 5.986% 10/03/28 | CANADIAN IMPERIAL BANK REGD 5.98600000                                                               | CUSIP: 13607LWV1<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   3485000 | PA      | $3655589.57   | 0.23%             | 2028-10-03      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| T/L BUCKEYE PARTNE 0% 11/01/26 | T/L BUCKEYE PARTNERS L.P. 0% 0.00000000                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    339284 | PA      | $339114.64    | 0.02%             | 2026-11-01      | Variable      | 6.07%                 | No            |                  2 | On Loan: No      |
| FORDR 2024-1 A S/UP 02/15/29   | FORD CREDIT AUTO OWNER TRUST 2024-REV1 SER 2024-1 CL A S/UP REGD 144A P/P 4.87000000                 | CUSIP: 34533BAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3340000 | PA      | $3398432.63   | 0.22%             | 2036-08-15      | Variable      | 4.87%                 | Yes           |                  2 | On Loan: No      |
| INDIANA ST FIN 3.313% 03/01/51 | INDIANA ST FIN AUTH REVENUE REGD B/E 3.31300000                                                      | CUSIP: 45506EDG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1117209.32   | 0.07%             | 2051-03-01      | Fixed         | 3.31%                 | No            |                  2 | On Loan: No      |
| PARTNERRE FINANCE V/R 10/01/50 | PARTNERRE FINANCE B LLC REGD V/R 4.50000000                                                          | CUSIP: 70213BAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3708000 | PA      | $3411361.85   | 0.22%             | 2050-10-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLB D/N 05/01/25              | FEDERAL HOME LOAN BANK DISCOUNT NOTES 0.00000000                                                     | CUSIP: 313385FA9<br>LEI: N/A                  | Long             | STIV             | USGA              | US        |  20105000 | PA      | $20105000.00  | 1.28%             | 2025-05-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC 4.375% 04/01/30  | NORDSTROM INC REGD 4.37500000                                                                        | CUSIP: 655664AT7<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |   3450000 | PA      | $3055737.24   | 0.20%             | 2030-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NAVMT 2023-1 A 6.18% 08/25/25  | NAVISTAR FINANCIAL DEALER NOTE MASTER OWNER TRUST II SER 2023-1 CL A REGD 144A P/P 6.18000000        | CUSIP: 63938PBU2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2465000 | PA      | $2474800.84   | 0.16%             | 2028-08-25      | Fixed         | 6.18%                 | Yes           |                  2 | On Loan: No      |
| FEDERAL REALTY 5.375% 05/01/28 | FEDERAL REALTY OP LP REGD 5.37500000                                                                 | CUSIP: 313747BC0<br>LEI: 549300LI6XZ51GOCJ427 | Long             | DBT              | CORP              | US        |   1175000 | PA      | $1201432.17   | 0.08%             | 2028-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FREMF 2023-K753  ZCP 12/25/30  | FREDDIE MAC MULTIFAMILY STRUCTURED PASS SER 2023-K753 CL D ZCP REGD 144A P/P 0.00000000              | CUSIP: 30333UAS7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7660000 | PA      | $4540848.00   | 0.29%             | 2060-11-25      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| T/L CENTRAL PAREN ZCP 07/06/29 | T/L CENTRAL PARENT LLC REGD    ZCP TERM LOAN 0.00000000                                              | CUSIP: 15477BAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3584761 | PA      | $2978864.80   | 0.19%             | 2029-07-06      | Variable      | 7.55%                 | No            |                  2 | On Loan: No      |
| US TREAS BDS 3.625% 05/15/53   | UNITED STATES TREASURY BOND 3.62500000                                                               | CUSIP: 912810TR9<br>LEI: N/A                  | Long             | DBT              | UST               | US        |  10515000 | PA      | $8702394.75   | 0.56%             | 2053-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| TRINITY CAPITAL 7.875% 3/30/29 | TRINITY CAPITAL INC/MD        /PREFERRED/ 0.00000000                                                 | CUSIP: 896442605<br>LEI: 549300YGT4SBRQYDVU48 | Long             | EP               | CORP              | US        |    175000 | NS      | $4406500.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COM V/R 03/02/33 | WELLS FARGO & COMPANY REGD V/R MTN 3.35000000                                                        | CUSIP: 95000U2U6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   3020000 | PA      | $2711584.37   | 0.17%             | 2033-03-02      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC V/R 11/10/26 | NATWEST GROUP PLC REGD V/R 7.47200000                                                                | CUSIP: 639057AG3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   2445000 | PA      | $2478863.18   | 0.16%             | 2026-11-10      | Variable      | 7.47%                 | No            |                  2 | On Loan: No      |
| MFIT 2024-BA B 5.33% 01/20/31  | MARINER FINANCE ISSUANCE TRUST 2024-B SER 2024-BA CL B REGD 144A P/P 5.33000000                      | CUSIP: 56847GAB9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2690000 | PA      | $2727276.41   | 0.17%             | 2038-11-20      | Fixed         | 5.33%                 | Yes           |                  2 | On Loan: No      |
| TRFIG 2024-1A  5.98% 05/15/27  | TRAFIGURA SECURITISATION FINANCE PLC SER 2024-1A CL A2 REGD 144A P/P 5.98000000                      | CUSIP: 892725AX0<br>LEI: 549300CH6S10UEZXWN56 | Long             | ABS-CBDO         | CORP              | IE        |   4480000 | PA      | $4526031.55   | 0.29%             | 2027-11-15      | Fixed         | 5.98%                 | Yes           |                  2 | On Loan: No      |
| REXFORD INDUSTRIAL 5% 06/15/28 | REXFORD INDUSTRIAL REALT REGD 5.00000000                                                             | CUSIP: 76169XAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2751949.37   | 0.18%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BHG 2023-A B 6.35% 01/17/28    | BHG SECURITIZATION TRUST 2023-A SER 2023-A CL B REGD 144A P/P 6.35000000                             | CUSIP: 08860FAB4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4165000 | PA      | $4251281.31   | 0.27%             | 2036-04-17      | Fixed         | 6.35%                 | Yes           |                  2 | On Loan: No      |
| T/L IQVIA INC 00.00% 01/02/31  | T/L IQVIA INC 0.00000000                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3658780 | PA      | $3653291.95   | 0.23%             | 2031-01-02      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| VCRRL 2021-1A 2.152% 10/20/31  | VCP RRL ABS I LTD SER 2021-1A CL A REGD 144A P/P 2.15200000                                          | CUSIP: 92243RAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    922225 | PA      | $883216.11    | 0.06%             | 2031-10-20      | Fixed         | 2.15%                 | Yes           |                  2 | On Loan: No      |
| DK 2024-SPBX B V/R 03/15/26    | DK TRUST 2024-SPBX SER 2024-SPBX CL B V/R REGD 144A P/P 6.07186000                                   | CUSIP: 23346LAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7330000 | PA      | $7302512.50   | 0.47%             | 2034-03-15      | Variable      | 6.07%                 | Yes           |                  2 | On Loan: No      |
| HYUNDAI CAPITAL 5.15% 03/27/30 | HYUNDAI CAPITAL AMERICA REGD 144A P/P 5.15000000                                                     | CUSIP: 44891ADQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7770000 | PA      | $7760641.89   | 0.50%             | 2030-03-27      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| MFIT 2024-BA C 5.73% 03/20/31  | MARINER FINANCE ISSUANCE TRUST 2024-B SER 2024-BA CL C REGD 144A P/P 5.73000000                      | CUSIP: 56847GAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1735000 | PA      | $1760896.61   | 0.11%             | 2038-11-20      | Fixed         | 5.73%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN EXPRESS  V/R 05/26/33 | AMERICAN EXPRESS CO REGD V/R 4.98900000                                                              | CUSIP: 025816CX5<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1222833.46   | 0.08%             | 2033-05-26      | Variable      | 4.99%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSH V/R 08/04/28 | HUNTINGTON BANCSHARES REGD V/R 4.44300000                                                            | CUSIP: 446150BB9<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   6256000 | PA      | $6216442.06   | 0.40%             | 2028-08-04      | Variable      | 4.44%                 | No            |                  2 | On Loan: No      |
| T/L DELTA AIR 0% 10/20/2027    | T/L DELTA AIR LINES INC REGD 0.00000000                                                              | CUSIP: 24736CBS2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    646979 | PA      | $651695.89    | 0.04%             | 2027-10-20      | Variable      | 8.02%                 | No            |                  2 | On Loan: No      |
| ZAYO 2025-1A  5.648% 03/20/30  | ZAYO ISSUER LLC SER 2025-1A CL A2 REGD 144A P/P 5.64800000                                           | CUSIP: 98919WAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5530000 | PA      | $5555145.46   | 0.35%             | 2055-03-20      | Fixed         | 5.65%                 | Yes           |                  2 | On Loan: No      |
| FIDELIS INSUR HLD V/R 04/01/41 | FIDELIS INSUR HLD LTD REGD V/R 144A P/P 6.62500000                                                   | CUSIP: 31575FAB2<br>LEI: 549300CDMGCAGJQ7DX03 | Long             | DBT              | CORP              | BM        |   4765000 | PA      | $4742770.08   | 0.30%             | 2041-04-01      | Variable      | 6.62%                 | Yes           |                  2 | On Loan: No      |
| ALP 2024-1A  10.036% 10/15/36  | ALP CFO 2024 LP SER 2024-1A CL B REGD 144A P/P 10.03600000                                           | CUSIP: 00165VAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4320000 | PA      | $4274640.00   | 0.27%             | 2036-10-15      | Fixed         | 10.04%                | Yes           |                  3 | On Loan: No      |
| US TREAS BDS 2.875% 05/15/52   | UNITED STATES TREASURY BOND 2.87500000                                                               | CUSIP: 912810TG3<br>LEI: N/A                  | Long             | DBT              | UST               | US        |   1250000 | PA      | $890527.35    | 0.06%             | 2052-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| FREMF 2023-K753 0.1% 12/25/30  | FREDDIE MAC MULTIFAMILY STRUCTURED P SER 2023-K753 CL X2B REGD 144A P/P 0.10000000                   | CUSIP: 30333UAQ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  26240000 | PA      | $108087.81    | 0.01%             | 2060-11-25      | Variable      | 0.10%                 | Yes           |                  2 | On Loan: No      |
| DC 2023-DC B 6.804% 09/10/28   | DC COMMERCIAL MORTGAGE TRUST 2023-DC SER 2023-DC CL B REGD 144A P/P 6.80430000                       | CUSIP: 24023AAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2460000 | PA      | $2539478.91   | 0.16%             | 2040-09-12      | Fixed         | 6.80%                 | Yes           |                  2 | On Loan: No      |
| T/L MEDLINE BORR 0% 10/23/28   | T/L MEDLINE BORROWER LP REGD 0.00000000                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   7185265 | PA      | $7132093.81   | 0.46%             | 2028-10-23      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| US TREAS BDS 3.875% 02/15/43   | UNITED STATES TREASURY BOND 3.87500000                                                               | CUSIP: 912810TQ1<br>LEI: N/A                  | Long             | DBT              | UST               | US        | 107500000 | PA      | $97295897.90  | 6.22%             | 2043-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATION 5.75% 10/01/29 | AMERICAN NATIONAL GROUP REGD 5.75000000                                                              | CUSIP: 025676AN7<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |   1325000 | PA      | $1346599.37   | 0.09%             | 2029-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIF 4.992% 01/12/27 | PROTECTIVE LIFE GLOBAL REGD 144A P/P 4.99200000                                                      | CUSIP: 74368CBX1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4365000 | PA      | $4415374.68   | 0.28%             | 2027-01-12      | Fixed         | 4.99%                 | Yes           |                  2 | On Loan: No      |
| TPDC 2023-1A A2 6% 06/25/26    | TIERPOINT ISSUER LLC SER 2023-1A CL A2 REGD 144A P/P 6.00000000                                      | CUSIP: 88651CAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    436667 | PA      | $437313.02    | 0.03%             | 2053-06-25      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| AHPT 2024-ATRM B V/R 11/10/24  | ATRIUM HOTEL PORTFOLIO TRUST 2024-ATRM SER 2024-ATRM CL B V/R REGD 144A P/P 6.09025000               | CUSIP: 04963XAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4750000 | PA      | $4702504.75   | 0.30%             | 2029-11-10      | Variable      | 6.09%                 | Yes           |                  2 | On Loan: No      |
| HARVEST MIDSTREA 7.5% 09/01/28 | HARVEST MIDSTREAM I LP REGD 144A P/P 7.50000000                                                      | CUSIP: 417558AA1<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |   2430000 | PA      | $2459628.99   | 0.16%             | 2028-09-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| NIAPK 2019-1A A1 V/R 01/17/38  | NIAGARA PARK CLO LTD SER 2019-1A CL A1RR V/R REGD 144A P/P 5.61979000                                | CUSIP: 65357LAT2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5450000 | PA      | $5406861.07   | 0.35%             | 2038-01-17      | Variable      | 5.62%                 | Yes           |                  2 | On Loan: No      |
| CNH INDUSTRIAL  4.55% 04/10/28 | CNH INDUSTRIAL CAP LLC REGD 4.55000000                                                               | CUSIP: 12592BAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2275000 | PA      | $2270837.96   | 0.15%             | 2028-04-10      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINAN V/R 10/30/31 | CAPITAL ONE FINANCIAL CO REGD V/R SER . 7.62400000                                                   | CUSIP: 14040HDC6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1630000 | PA      | $1815689.96   | 0.12%             | 2031-10-30      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| SARATOGA INVES 4.375% 02/28/26 | SARATOGA INVESTMENT CORP REGD 4.37500000                                                             | CUSIP: 80349AAD1<br>LEI: 54930023WJCWPAGSWE41 | Long             | DBT              | CORP              | US        |   3025000 | PA      | $2958693.72   | 0.19%             | 2026-02-28      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BANK OF NEW ZE 4.846% 02/07/28 | BANK OF NEW ZEALAND REGD 144A P/P 4.84600000                                                         | CUSIP: 06407EAG0<br>LEI: N/A                  | Long             | DBT              | CORP              | NZ        |   3035000 | PA      | $3074657.89   | 0.20%             | 2028-02-07      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| SEACO 2020-1A  2.17% 03/18/30  | GLOBAL SC FINANCE VII SRL SER 2020-1A CL A REGD 144A P/P 2.17000000                                  | CUSIP: 37959PAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BB        |    894571 | PA      | $846415.25    | 0.05%             | 2040-10-17      | Fixed         | 2.17%                 | Yes           |                  2 | On Loan: No      |
| HORIZON TECHNOLOGY FINAN /PFD/ | HORIZON TECHNOLOGY FINAN      /PREFERRED/ 0.00000000                                                 | CUSIP: 44045A409<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     93600 | NS      | $2316600.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| MCAF 2021-1A  2.815% 04/22/31  | MONROE CAPITAL ABS FUNDING 2021-1 LTD SER 2021-1A CL A2 REGD 144A P/P 2.81500000                     | CUSIP: 610331AA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    683477 | PA      | $673131.27    | 0.04%             | 2031-04-22      | Fixed         | 2.81%                 | Yes           |                  2 | On Loan: No      |
| TMCL 2020-1A A 2.73% 05/21/29  | TEXTAINER MARINE CONTAINERS VII LTD SER 2020-1A CL A REGD 144A P/P 2.73000000                        | CUSIP: 88315LAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |    940132 | PA      | $894265.66    | 0.06%             | 2045-08-21      | Fixed         | 2.73%                 | Yes           |                  2 | On Loan: No      |
| US T BILL ZCP 10/09/25         | UNITED STATES TREASURY BILL ZCP 0.00000000                                                           | CUSIP: 912797QE0<br>LEI: N/A                  | Long             | STIV             | UST               | US        |   3850000 | PA      | $3779982.78   | 0.24%             | 2025-10-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| T/L TIDAL WASTE & 0% 10/24/31  | T/L TIDAL WASTE & RECYCLING    HOLDINGS LLC REGD TERM LOAN 0.00000000                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3733540 | PA      | $3731971.91   | 0.24%             | 2031-10-24      | Variable      | 7.80%                 | No            |                  2 | On Loan: No      |
| GUARDIAN LIFE  4.179% 09/26/29 | GUARDIAN LIFE GLOB FUND REGD 144A P/P MTN 4.17900000                                                 | CUSIP: 40139LBJ1<br>LEI: 635400NHILJ5JEKILC36 | Long             | DBT              | CORP              | US        |   6815000 | PA      | $6769539.66   | 0.43%             | 2029-09-26      | Fixed         | 4.18%                 | Yes           |                  2 | On Loan: No      |
| ARBOR REALTY TRUST 5% 04/30/26 | ARBOR REALTY TRUST INC REGD 5.00000000                                                               | CUSIP: 038923AW8<br>LEI: 549300ASFUWYQO0RW077 | Long             | DBT              | CORP              | US        |   2375000 | PA      | $2291910.82   | 0.15%             | 2026-04-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY D 4.5% 02/11/27 | MORGAN STANLEY DIRECT REGD 4.50000000                                                                | CUSIP: 61774AAD5<br>LEI: 549300QEX22T2J8IB029 | Long             | DBT              | CORP              | US        |   2665000 | PA      | $2640049.60   | 0.17%             | 2027-02-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONA V/R /PERP/ | EDISON INTERNATIONAL REGD V/R /PERP/ SER A 5.37500000                                                | CUSIP: 281020AS6<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |   5065000 | PA      | $4747392.08   | 0.30%             | 2173-09-15      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| BLACKROCK TCP C 6.95% 05/30/29 | BLACKROCK TCP CAP CORP REGD 6.95000000                                                               | CUSIP: 09259EAC2<br>LEI: 549300JU1XG1HF56J989 | Long             | DBT              | CORP              | US        |   2172000 | PA      | $2176937.24   | 0.14%             | 2029-05-30      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| ARES PBN FIN 6% 9/15/36        | ARES PBN FIN CO LLC REGD   144A 6.00000000                                                           | CUSIP: 04019VAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1480000 | PA      | $1320900.00   | 0.08%             | 2036-10-15      | Fixed         | 6.00%                 | Yes           |                  3 | On Loan: No      |
| AMS-OSRAM AG 12.25% 03/30/29   | AMS-OSRAM AG REGD 144A P/P 12.25000000                                                               | CUSIP: 03217CAB2<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |   5575000 | PA      | $5649062.70   | 0.36%             | 2029-03-30      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| BANCO SANTANDER S V/R 03/14/28 | BANCO SANTANDER SA REGD V/R SER * 5.55200000                                                         | CUSIP: 05964HBA2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   4600000 | PA      | $4670544.68   | 0.30%             | 2028-03-14      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY SR  8.5% 10/15/27 | ARBOR REALTY SR INC REGD 144A P/P SER QIB 8.50000000                                                 | CUSIP: 03881NAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4140000 | PA      | $3892635.29   | 0.25%             | 2027-10-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| US T BILL ZCP 07/17/25         | UNITED STATES TREASURY BILL ZCP 0.00000000                                                           | CUSIP: 912797PE1<br>LEI: N/A                  | Long             | STIV             | UST               | US        |   3325000 | PA      | $3295262.00   | 0.21%             | 2025-07-17      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| FLX 2021-1A A2 3.25% 11/25/26  | FLEXENTIAL ISSUER 2021-1 SER 2021-1A CL A2 REGD 144A P/P 3.25000000                                  | CUSIP: 33938MAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4460000 | PA      | $4252391.01   | 0.27%             | 2051-11-27      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| T/L STARWOOD PR 0% 11/18/27    | T/L STARWOOD PROPERTY          MORTGAGE  L L C  REGD 0.00000000                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1769433 | PA      | $1765009.80   | 0.11%             | 2027-11-18      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| T/L TEREX CORPOR 0% 10/08/31   | T/L TEREX CORPORATION 0.00000000                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3040000 | PA      | $3030120.00   | 0.19%             | 2031-10-08      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| SORT 2022-1A A 5.97% 02/15/27  | CF HIPPOLYTA ISSUER LLC SER 2022-1A CL A1 REGD 144A P/P 5.97000000                                   | CUSIP: 12530MAL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2374427 | PA      | $2386708.02   | 0.15%             | 2062-08-15      | Fixed         | 5.97%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN TOWER  5.49% 03/15/28 | AMERICAN TOWER TRUST I REGD 144A P/P 5.49000000                                                      | CUSIP: 03027WAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3340000 | PA      | $3398279.33   | 0.22%             | 2028-03-15      | Fixed         | 5.49%                 | Yes           |                  2 | On Loan: No      |
| HERTZ 2024-2A  5.48% 01/25/30  | HERTZ VEHICLE FINANCING III LLC SER 2024-2A CL A REGD 144A P/P 5.48000000                            | CUSIP: 42806MCL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   8300000 | PA      | $8449687.18   | 0.54%             | 2031-01-27      | Fixed         | 5.48%                 | Yes           |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC V/R 06/04/31 | HSBC HOLDINGS PLC REGD V/R 2.84800000                                                                | CUSIP: 404280CH0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1140000 | PA      | $1030526.61   | 0.07%             | 2031-06-04      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| OXFORD LANE CAPITAL 5% 1/31/27 | OXFORD LANE CAPITAL CORP      /PREFERRED/ 0.00000000                                                 | CUSIP: 691543888<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    130800 | NS      | $3119580.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BFLD 2024-WRHS A V/R 08/15/26  | BFLD 2024-WRHS MORTGAGE TRUST SER 2024-WRHS CL A V/R REGD 144A P/P 5.81396000                        | CUSIP: 05555HAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2818071 | PA      | $2815429.07   | 0.18%             | 2026-08-15      | Variable      | 5.81%                 | Yes           |                  2 | On Loan: No      |
| FAIRFAX INDIA HOLD 5% 02/26/28 | FAIRFAX INDIA HOLDINGS REGD 144A P/P 5.00000000                                                      | CUSIP: 303897AA0<br>LEI: 549300K2JHXU7AX7CV78 | Long             | DBT              | CORP              | CA        |   5725000 | PA      | $5377492.50   | 0.34%             | 2028-02-26      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| BUNGE LTD FINANC 4.2% 09/17/29 | BUNGE LTD FINANCE CORP REGD 4.20000000                                                               | CUSIP: 120568BE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5480000 | PA      | $5410922.52   | 0.35%             | 2029-09-17      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL  4.721% 10/08/29 | ATHENE GLOBAL FUNDING REGD 144A P/P 4.72100000                                                       | CUSIP: 04685A4C2<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   4040000 | PA      | $4005558.60   | 0.26%             | 2029-10-08      | Fixed         | 4.72%                 | Yes           |                  2 | On Loan: No      |
| FREMF 2023-K753 0.1% 10/25/30  | FREDDIE MAC MULTIFAMILY STRUCTURED P SER 2023-K753 CL X2A REGD 144A P/P 0.10000000                   | CUSIP: 30333UAN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        | 126824030 | PA      | $502806.55    | 0.03%             | 2060-11-25      | Variable      | 0.10%                 | Yes           |                  2 | On Loan: No      |
| US TREAS BDS 1.375% 08/15/50   | UNITED STATES TREASURY BOND 1.37500000                                                               | CUSIP: 912810SP4<br>LEI: N/A                  | Long             | DBT              | UST               | US        |  43865000 | PA      | $21875955.38  | 1.40%             | 2050-08-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| F/C US 5YR NOTE (CBT) JUN25    | FUTURE CONTRACT ON           US 5YR NOTE (CBT) JUN25 0.00000000                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |      -200 | NC      | $-21839062.60 | -1.40%            |  |  |  | No            |                  1 | On Loan: No      |
| NWSB 2023-1 A V/R 07/25/50     | NEWTEK SMALL BUSINESS LOAN TRUST 2023-1 SER 2023-1 CL A V/R REGD 144A P/P 7.00000000                 | CUSIP: 65254RAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2562308 | PA      | $2587842.61   | 0.17%             | 2050-07-25      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| T/L MIDCONTINENT 0% 08/17/26   | T/L MIDCONTINENT               COMMUNICATIONS REGD 0.00000000                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   5835675 | PA      | $5813791.22   | 0.37%             | 2031-08-16      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| MCMML 2024-1A B V/R 07/23/36   | MONROE CAPITAL MML CLO XVI LTD SER 2024-1A CL B V/R REGD 144A P/P 6.37934000                         | CUSIP: 61034CAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4870000 | PA      | $4877482.27   | 0.31%             | 2036-07-23      | Variable      | 6.38%                 | Yes           |                  2 | On Loan: No      |
| ARES CAPITAL CO 2.15% 07/15/26 | ARES CAPITAL CORP REGD 2.15000000                                                                    | CUSIP: 04010LBA0<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |  11550000 | PA      | $11138412.17  | 0.71%             | 2026-07-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| T/L CHARTER COMMUN 0% 12/07/30 | T/L CHARTER COMMUNICATIONS     OPERATING LLC REGD 0.00000000                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   5665657 | PA      | $5631039.41   | 0.36%             | 2030-12-07      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| NORTHWESTERN MU 5.07% 03/25/27 | NORTHWESTERN MUTUAL GLBL REGD 144A P/P 5.07000000                                                    | CUSIP: 66815L2R9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5090000 | PA      | $5167574.25   | 0.33%             | 2027-03-25      | Fixed         | 5.07%                 | Yes           |                  2 | On Loan: No      |
| NFAS 2022-1 A 6.86% 09/15/25   | NFAS2 LLC SER 2022-1 CL A REGD 144A P/P 6.86000000                                                   | CUSIP: 62909JAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1660000 | PA      | $1660782.86   | 0.11%             | 2028-09-15      | Fixed         | 6.86%                 | Yes           |                  2 | On Loan: No      |
| ATLANTICA SUST 4.125% 06/15/28 | ATLANTICA SUSTAIN INFRA REGD 144A P/P 4.12500000                                                     | CUSIP: 04916WAA2<br>LEI: 549300ITBBGKJ651R879 | Long             | DBT              | CORP              | GB        |   4405000 | PA      | $4185558.01   | 0.27%             | 2028-06-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| OCT71 2024-1A B V/R 04/18/37   | OCTAGON 71 LTD SER 2024-1A CL B V/R REGD 144A P/P 6.31947000                                         | CUSIP: 67579CAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4500000 | PA      | $4507664.40   | 0.29%             | 2037-04-18      | Variable      | 6.32%                 | Yes           |                  2 | On Loan: No      |
| FREMF 2024-K757 0.1% 08/25/31  | FREMF 2024-K757 MORTGAGE TRUST SER 2024-K757 CL X2B REGD 144A P/P 0.10000000                         | CUSIP: 30339MAS9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  25440000 | PA      | $120946.85    | 0.01%             | 2061-10-25      | Variable      | 0.10%                 | Yes           |                  2 | On Loan: No      |
| FREMF 2024-K757  V/R 08/25/31  | FREMF 2024-K757 MORTGAGE TRUST SER 2024-K757 CL D V/R REGD 144A P/P 0.00000000                       | CUSIP: 30339MAN0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6570000 | PA      | $3692200.06   | 0.24%             | 2031-08-25      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| T/L GLOBAL MEDI 0% 10/31/28    | T/L GLOBAL MEDICAL RESPONSE    INC REGD 0.00000000                                                   | CUSIP: 00169QAG4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1549428 | PA      | $1545120.95   | 0.10%             | 2028-10-31      | Variable      | 9.07%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP 3.2% 09/26/26 | VOLKSWAGEN GROUP AMERICA REGD 144A P/P 3.20000000                                                    | CUSIP: 928668BB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9540000 | PA      | $9323220.20   | 0.60%             | 2026-09-26      | Fixed         | 3.20%                 | Yes           |                  2 | On Loan: No      |
| T/L MPH ACQUISIT 0% 12/31/30   | T/L MPH ACQUISITION HOLDINGS   LLC REGD 0.00000000                                                   | CUSIP: 55328HAP6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    686793 | PA      | $676491.11    | 0.04%             | 2030-12-31      | Variable      | 8.03%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOB  5.9% 09/19/28 | COREBRIDGE GLOB FUNDING REGD 144A P/P 5.90000000                                                     | CUSIP: 00138CAV0<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |   3175000 | PA      | $3312889.93   | 0.21%             | 2028-09-19      | Fixed         | 5.90%                 | Yes           |                  2 | On Loan: No      |
| FREMF 2024-K522  V/R 05/25/29  | FREMF 2024-K522 MORTGAGE TRUST SER 2024-K522 CL C V/R REGD 144A P/P 5.60126900                       | CUSIP: 30336LAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4675000 | PA      | $4201929.27   | 0.27%             | 2029-05-25      | Variable      | 5.60%                 | Yes           |                  2 | On Loan: No      |
| DOCTORS CO INTER 4.5% 01/18/32 | DOCTORS CO INTERINSURANC REGD 144A P/P 4.50000000                                                    | CUSIP: 256141AB8<br>LEI: MKYKR1GWDRIJRLI1S211 | Long             | DBT              | CORP              | US        |   4210000 | PA      | $3673541.97   | 0.23%             | 2032-01-18      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| BXMT 2020-FL3 C V/R 11/15/37   | BXMT 2020-FL3 LTD SER 2020-FL3 CL C V/R REGD 144A P/P 7.49261000                                     | CUSIP: 05608XAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1187179.25   | 0.08%             | 2037-11-15      | Variable      | 7.49%                 | Yes           |                  2 | On Loan: No      |
| US BANCORP V/R /PERP/          | US BANCORP REGD V/R /PERP/ 3.70000000                                                                | CUSIP: 902973BC9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   6100000 | PA      | $5698585.23   | 0.36%             | 2174-01-15      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| VC 3 LS 2021 LP 4.75% 10/15/41 | VC 3 LS 2021 LP CLASS B 4.75000000                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-CBDO         | CORP              | US        |   4653500 | PA      | $3889860.30   | 0.25%             | 2041-10-15      | Fixed         | 4.75%                 | No            |                  3 | On Loan: No      |
| GLADSTONE 4.875% 11/01/28/     | GLADSTONE INVESTMENT COR      /PREFERRED/ 0.00000000                                                 | CUSIP: 376546883<br>LEI: 549300HFFTVIBC98Z362 | Long             | EP               | CORP              | US        |    132600 | NS      | $3016650.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR CRE 5.125% 11/05/26 | FORD MOTOR CREDIT CO LLC REGD 5.12500000                                                             | CUSIP: 345397F81<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3930000 | PA      | $3893083.15   | 0.25%             | 2026-11-05      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PNTPK 2023-7A B V/R 07/20/35   | PENNANTPARK CLO VII LLC SER 2023-7A CL B V/R REGD 144A P/P 8.31947000                                | CUSIP: 70806FAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2320000 | PA      | $2325300.50   | 0.15%             | 2035-07-20      | Variable      | 8.32%                 | Yes           |                  2 | On Loan: No      |
| REPS 2024-A A 5.91% 06/21/27   | REPUBLIC FINANCE ISSUANCE TRUST 2024-A SER 2024-A CL A REGD 144A P/P 5.91000000                      | CUSIP: 76041RAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7830000 | PA      | $7955342.64   | 0.51%             | 2032-08-20      | Fixed         | 5.91%                 | Yes           |                  2 | On Loan: No      |
| CION INVESTMENT  4.5% 02/11/26 | CION INVESTMENT CORP REGD 4.50000000                                                                 | CUSIP: 17259UAA3<br>LEI: 549300XN70JLF94XKX80 | Long             | DBT              | CORP              | US        |   1635000 | PA      | $1601499.01   | 0.10%             | 2026-02-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CGNT 2025-1A  6.646% 04/25/30  | COGENT IPV4 LLC SER 2025-1A CL A2 REGD 144A P/P 6.64600000                                           | CUSIP: 19240JAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7960000 | PA      | $7960000.00   | 0.51%             | 2055-04-25      | Fixed         | 6.65%                 | Yes           |                  2 | On Loan: No      |
| TRUIST FINANCIAL  V/R 10/30/29 | TRUIST FINANCIAL CORP REGD V/R MTN 7.16100000                                                        | CUSIP: 89788MAQ5<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   1620000 | PA      | $1748971.86   | 0.11%             | 2029-10-30      | Variable      | 7.16%                 | No            |                  2 | On Loan: No      |
| TRINITY CAPITAL 4.25% 12/15/26 | TRINITY CAPITAL INC/MD REGD 4.25000000                                                               | CUSIP: 896442AH3<br>LEI: 549300YGT4SBRQYDVU48 | Long             | DBT              | CORP              | US        |   3165000 | PA      | $2994787.22   | 0.19%             | 2026-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PFSFC 2024-F A 4.75% 08/15/27  | PFS FINANCING CORP SER 2024-F CL A REGD 144A P/P 4.75000000                                          | CUSIP: 69335PFP5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  10130000 | PA      | $10217530.29  | 0.65%             | 2029-08-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| ABDLF 2020-1A 3.199% 10/20/27  | ABPCI DIRECT LENDING FUND ABS I LTD SER 2020-1A CL A REGD 144A P/P 3.19900000                        | CUSIP: 00090TAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3135061 | PA      | $3077724.27   | 0.20%             | 2030-12-29      | Fixed         | 3.20%                 | Yes           |                  2 | On Loan: No      |
| T/L WHIRLPOOL COR 0% 09/23/25  | T/L WHIRLPOOL CORPORATION      REGD 0.00000000                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   9490000 | PA      | $9478612.00   | 0.61%             | 2025-09-23      | Variable      | 5.67%                 | No            |                  3 | On Loan: No      |
| DRAWBRIDGE SPE 3.875% 02/15/26 | DRAWBRIDGE SPEC OPPOR FU REGD 144A P/P 3.87500000                                                    | CUSIP: 26150TAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2485000 | PA      | $2439048.80   | 0.16%             | 2026-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| GA GLOBAL FUNDIN 4.4% 09/23/27 | GA GLOBAL FUNDING TRUST REGD 144A P/P 4.40000000                                                     | CUSIP: 36143L2N4<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |   6260000 | PA      | $6229574.84   | 0.40%             | 2027-09-23      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| CARGILL INC 5.125% 10/11/32    | CARGILL INC REGD 144A P/P 5.12500000                                                                 | CUSIP: 141781BZ6<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |   1890000 | PA      | $1911608.75   | 0.12%             | 2032-10-11      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| CNH INDUSTRIAL C 5.5% 01/12/29 | CNH INDUSTRIAL CAP LLC REGD 5.50000000                                                               | CUSIP: 12592BAR5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2450000 | PA      | $2517962.61   | 0.16%             | 2029-01-12      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| T/L AADVANTAGE LO 0% 04/20/28  | T/L AADVANTAGE LOYALTY IP LTD. REGD 0.00000000                                                       | CUSIP: 02376CBS3<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |   3321500 | PA      | $3246766.25   | 0.21%             | 2028-04-20      | Variable      | 6.52%                 | No            |                  2 | On Loan: No      |
| COMERICA BANK V/R 08/25/33     | COMERICA BANK REGD V/R 5.33200000                                                                    | CUSIP: 200339EX3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2920000 | PA      | $2760621.26   | 0.18%             | 2033-08-25      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCO V/R 07/28/30 | FIFTH THIRD BANCORP REGD V/R 4.77200000                                                              | CUSIP: 316773DG2<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    165000 | PA      | $164442.83    | 0.01%             | 2030-07-28      | Variable      | 4.77%                 | No            |                  2 | On Loan: No      |
| T/L JAZZ PHARM 0% 05/05/28     | T/L JAZZ PHARMACEUTICALS       PUBLIC LIMITED COMPANY         REGD /TERM LOAN 0.00000000             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | IE        |   1790278 | PA      | $1782920.18   | 0.11%             | 2028-05-05      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| BAHA 2024-MAR B V/R 12/10/29   | BAHA TRUST 2024-MAR SER 2024-MAR CL B V/R REGD 144A P/P 7.06941600                                   | CUSIP: 05493XAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6930000 | PA      | $7083245.17   | 0.45%             | 2041-12-10      | Variable      | 7.07%                 | Yes           |                  2 | On Loan: No      |
| SKANDINAVISKA  5.375% 03/05/29 | SKANDINAVISKA ENSKILDA REGD 144A P/P 5.37500000                                                      | CUSIP: 830505BB8<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |   3070000 | PA      | $3165834.41   | 0.20%             | 2029-03-05      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| JOHN DEERE CAPITA V/R 03/06/28 | JOHN DEERE CAPITAL CORP REGD V/R 4.86693100                                                          | CUSIP: 24422EYA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7140000 | PA      | $7125006.00   | 0.46%             | 2028-03-06      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| ADC 2023-1A A2 6% 08/15/28     | ALIGNED DATA CENTERS ISSUER LLC SER 2023-1A CL A2 REGD 144A P/P 6.00000000                           | CUSIP: 01627AAD0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3250000 | PA      | $3289340.93   | 0.21%             | 2048-08-17      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| US TREAS NTS 4% 02/15/34       | UNITED STATES TREASURY NOTE 4.00000000                                                               | CUSIP: 91282CJZ5<br>LEI: N/A                  | Long             | DBT              | UST               | US        |  31475000 | PA      | $31234019.53  | 2.00%             | 2034-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLO 2023-1A  5.116% 02/25/28  | DATABANK ISSUER SER 2023-1A CL A2 REGD 144A P/P 5.11600000                                           | CUSIP: 23802WAL5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3070000 | PA      | $3002777.75   | 0.19%             | 2053-02-25      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| LAFI 2018-1A A 5.956% 07/25/28 | LIAS ADMINISTRATION FEE ISSUER LLC SER 2018-1A CL A REGD 144A P/P 5.95600000                         | CUSIP: 53000LAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    412601 | PA      | $400565.36    | 0.03%             | 2048-07-25      | Fixed         | 5.96%                 | No            |                  2 | On Loan: No      |
| MCIP 2022-1A B 5.15% 04/30/32  | MONROE CAPITAL INCOME PLUS ABS FUNDING LLC SER 2022-1A CL B REGD 144A P/P 5.15000000                 | CUSIP: 61033MAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1452107 | PA      | $1393157.34   | 0.09%             | 2032-04-30      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| T/L LENDINGTREE  I 0% 09/15/28 | T/L LENDINGTREE  INC REGD 0.00000000                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   5183684 | PA      | $5125367.61   | 0.33%             | 2028-09-15      | Variable      | 8.44%                 | No            |                  2 | On Loan: No      |
| FNH 2019-1 A V/R 12/10/31      | FNA 2019-1 LLC SER 2019-1 CL A V/R REGD 144A P/P 3.00000000                                          | CUSIP: 30312PAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    340347 | PA      | $320776.84    | 0.02%             | 2031-12-10      | Variable      | 3.00%                 | Yes           |                  3 | On Loan: No      |
| EAGLE POINT 5.375% 01/31/29    | EAGLE POINT CREDIT CO         /PREFERRED/ 0.00000000                                                 | CUSIP: 269809885<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    178600 | NS      | $4045290.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| PACIFIC LIFE GF 4.45% 05/01/28 | PACIFIC LIFE GF II REGD 144A P/P 4.45000000                                                          | CUSIP: 69448TAC5<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |   7725000 | PA      | $7771008.40   | 0.50%             | 2028-05-01      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| SBA TOWER TRUS 6.599% 01/15/28 | SBA TOWER TRUST REGD 144A P/P 6.59900000                                                             | CUSIP: 78403DAZ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2046262.00   | 0.13%             | 2028-01-15      | Fixed         | 6.60%                 | Yes           |                  2 | On Loan: No      |
| UNIVERSAL INSU 5.625% 11/30/26 | UNIVERSAL INSURANCE HLDS REGD SER WI 5.62500000                                                      | CUSIP: 91359VAC1<br>LEI: 529900GGAZ6WVUCWQM46 | Long             | DBT              | CORP              | US        |   6280000 | PA      | $6179713.42   | 0.39%             | 2026-11-30      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BREAD FINANCIAL 9.75% 03/15/29 | BREAD FINANCIAL HLDGS REGD 144A P/P 9.75000000                                                       | CUSIP: 018581AP3<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |   5705000 | PA      | $6001795.49   | 0.38%             | 2029-03-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| SEACO 2020-2A  2.26% 03/17/30  | GLOBAL SC FINANCE VII SRL SER 2020-2A CL A REGD 144A P/P 2.26000000                                  | CUSIP: 37959PAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BB        |    850567 | PA      | $804099.93    | 0.05%             | 2040-11-19      | Fixed         | 2.26%                 | Yes           |                  2 | On Loan: No      |
| BLUE OWL TECHNOL 6.1% 03/15/28 | BLUE OWL TECHNOLOGY FINA REGD 144A P/P 6.10000000                                                    | CUSIP: 095924AA4<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |   2585000 | PA      | $2566052.39   | 0.16%             | 2028-03-15      | Fixed         | 6.10%                 | Yes           |                  2 | On Loan: No      |
| F/C US ULTRA BOND CBT JUN25    | FUTURE CONTRACT ON           US ULTRA BOND CBT JUN25 0.00000000                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |       480 | NC      | $58095000.00  | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| NEUB 2021-40A A V/R 04/16/33   | NEUBERGER BERMAN LOAN ADVISERS CLO 4 SER 2021-40A CL A V/R REGD 144A P/P 5.58215000                  | CUSIP: 64134JAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2527147 | PA      | $2520456.62   | 0.16%             | 2033-04-16      | Variable      | 5.58%                 | Yes           |                  2 | On Loan: No      |
| ARTFI 2024-1A  6.43% 03/20/26  | SOTHEBY'S ARTFI MASTER TRUST SER 2024-1A CL A1 REGD 144A P/P 6.43000000                              | CUSIP: 83589CAA6<br>LEI: 9845002FA850DM72BA31 | Long             | ABS-CBDO         | CORP              | US        |   6250000 | PA      | $6309546.25   | 0.40%             | 2031-12-22      | Fixed         | 6.43%                 | Yes           |                  2 | On Loan: No      |
| PROV ST JOSEPH 5.403% 10/01/33 | PROV ST JOSEPH HLTH OBL REGD 5.40300000                                                              | CUSIP: 743820AC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1090094.16   | 0.07%             | 2033-10-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-30

**Name of Applicant:** BBH Trust

**Signature:** Charles Schreiber

**Name of Signer:** Charles Schreiber

**Title:** Treasurer