# EDGAR Filing Document

**Accession Number:** 0000932381
**File Stem:** 0000932381-26-000039
**Filing Date:** 2026-2
**Character Count:** 84239
**Document Hash:** dbbeaaf3a5de2798d337119feaff4e17
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000932381-26-000039.hdr.sgml**: 20260223

**ACCESSION NUMBER**: 0000932381-26-000039

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260223

**DATE AS OF CHANGE**: 20260223

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tributary Funds, Inc.
- **CENTRAL INDEX KEY:** 0000932381

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** NE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08846
- **FILM NUMBER:** 26663418

**BUSINESS ADDRESS:**
- **STREET 1:** 1620 DODGE STREET
- **STREET 2:** STOP 1075
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68197
- **BUSINESS PHONE:** 1-800-662-4203

**MAIL ADDRESS:**
- **STREET 1:** 1620 DODGE STREET
- **STREET 2:** STOP 1075
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68197

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST FOCUS FUNDS INC
- **DATE OF NAME CHANGE:** 20010731

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST OMAHA FUNDS INC
- **DATE OF NAME CHANGE:** 19941103

## Series and Classes Contracts Data

### Income Fund (Series ID: S000022135)

| Class ID   | Class Name         | Ticker Symbol   |
|:---|:---|:---|
| C000063509 | Institutional      | FOINX           |
| C000091255 | Institutional Plus | FOIPX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** TRIBUTARY CAPITAL MANAGEMENT, LLC

- **b. Investment Company Act file number:** 811-08846

- **c. CIK number of Registrant:** 0000932381

- **d. LEI of Registrant:** 2549000T9YMVQWFGOI81

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

  - **Street Address 1:** 1620 DODGE STREET

  - **City:** OMAHA

  - **State:** NE

  - **Foreign country:** US

  - **Zip / Postal Code:** 68197

  - **Telephone number:** 800-662-4203

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

- **a. Name of Series:** TRIBUTARY INCOME FUND

- **b. EDGAR series identifier (if any):** S000022135

- **c. LEI of Series:** 254900UPNDP9IQMK1D04

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $169605400.12

**Total Liabilities:** $606418.27

**Net Assets:** $168998981.85

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 22.43850000 | **1-Year:** 285.38070000 | **5-Year:** 11708.73760000 | **10-Year:** 39665.08310000 | **30-Year:** 12013.06020000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 267.99080000 | **10-Year:** 169.98930000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000063509 | 0.58%                | 0.68%                | -0.34%               |
| Class ID C000091255 | 0.70%                | 0.70%                | -0.33%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $33369.33                | $524015.52                                 |
| Month 2  | $0.00                    | $770402.61                                 |
| Month 3  | $3588.69                 | $-1022541.37                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AT&T INC                       | AT&T, Inc.                                                       | CUSIP: 00206RBH4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1165000 | PA      | $982840.73    | 0.58%             | 2042-12-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| AGILENT TECHNOLOGIES INC       | Agilent Technologies, Inc.                                       | CUSIP: 00846UAM3<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |   1109000 | PA      | $1013472.09   | 0.60%             | 2030-06-04      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| ALBEMARLE CORP                 | Albemarle Corp.                                                  | CUSIP: 012653AE1<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | DBT              | CORP              | US        |    550000 | PA      | $553708.16    | 0.33%             | 2032-06-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| ALBEMARLE CORP                 | Albemarle Corp.                                                  | CUSIP: 012725AD9<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | DBT              | CORP              | US        |    216000 | PA      | $197157.89    | 0.12%             | 2044-12-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Aligned Data Centers Issuer LL | Aligned Data Centers Issuer, LLC                                 | CUSIP: 01627AAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    960000 | PA      | $942802.75    | 0.56%             | 2046-08-15      | Fixed         | 1.94%                 | Yes           |                  2 | On Loan: No      |
| ALPHABET INC                   | Alphabet, Inc.                                                   | CUSIP: 02079KAG2<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    345000 | PA      | $176742.86    | 0.10%             | 2060-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| APTARGROUP INC                 | AptarGroup, Inc.                                                 | CUSIP: 038336AB9<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | DBT              | CORP              | US        |    510000 | PA      | $513600.85    | 0.30%             | 2031-03-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp.                                            | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1315000 | PA      | $1206715.19   | 0.71%             | 2032-04-22      | Variable      | 2.69%                 | No            |                  2 | On Loan: No      |
| N/A                            | BlackRock Liquidity Funds T-Fund Portfolio, Institutional Shares | CUSIP: 09248U718<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1537223 | NS      | $1537223.10   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO/THE                  | The Boeing Co.                                                   | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    280000 | PA      | $309780.51    | 0.18%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Brean Asset Backed Securities  | Brean Asset Backed Securities Trust                              | CUSIP: 10638CAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    940888 | PA      | $894892.30    | 0.53%             | 2063-10-25      | Variable      | 1.40%                 | Yes           |                  2 | On Loan: No      |
| BURLINGTN NORTH SANTA FE       | Burlington Northern Santa Fe, LLC                                | CUSIP: 12189LAU5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1220000 | PA      | $1083464.52   | 0.64%             | 2044-09-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Credit-Based Asset Servicing a | Credit-Based Asset Servicing & Securitization, LLC REMIC         | CUSIP: 12489WFD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     44215 | PA      | $51537.00     | 0.03%             | 2033-02-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC              | CBRE Services, Inc.                                              | CUSIP: 12505BAE0<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |    745000 | PA      | $675728.71    | 0.40%             | 2031-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC              | CBRE Services, Inc.                                              | CUSIP: 12505BAL4<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |    505000 | PA      | $507426.23    | 0.30%             | 2033-01-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Capital Automotive Reit        | Capital Automotive                                               | CUSIP: 12510HAK6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    543848 | PA      | $532287.06    | 0.31%             | 2051-08-15      | Fixed         | 1.44%                 | Yes           |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC        | CF Hippolyta Issuer, LLC                                         | CUSIP: 12530MAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    842851 | PA      | $680365.28    | 0.40%             | 2061-03-15      | Fixed         | 1.53%                 | Yes           |                  2 | On Loan: No      |
| CSMLT TRUST                    | CSMLT Trust                                                      | CUSIP: 12650UAU5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     81533 | PA      | $78852.76     | 0.05%             | 2030-10-25      | Variable      | 2.95%                 | Yes           |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust   | Credit Suisse Mortgage Trust                                     | CUSIP: 12651RAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    585351 | PA      | $540799.51    | 0.32%             | 2047-04-25      | Variable      | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust   | Credit Suisse Mortgage Trust                                     | CUSIP: 12659TAF2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    660721 | PA      | $601739.65    | 0.36%             | 2056-11-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| CAMPBELLS COMPANY/THE          | The Campbell's Co.                                               | CUSIP: 134429BQ1<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |   1215000 | PA      | $1174240.93   | 0.69%             | 2035-03-23      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CHUBB INA HOLDINGS LLC         | Chubb INA Holdings, LLC                                          | CUSIP: 171232AE1<br>LEI: CZCBJZWDMLTHWJDXU843 | Long             | DBT              | CORP              | US        |    947000 | PA      | $1058351.43   | 0.63%             | 2031-11-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                  | Citigroup, Inc.                                                  | CUSIP: 172967NU1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1175000 | PA      | $1189081.40   | 0.70%             | 2033-05-24      | Variable      | 4.91%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust  | Citigroup Mortgage Loan Trust, Inc. REMIC                        | CUSIP: 17307GFQ6<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-CBDO         | CORP              | US        |     56486 | PA      | $58128.02     | 0.03%             | 2034-07-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust  | Citigroup Mortgage Loan Trust REMIC                              | CUSIP: 17322GAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    185645 | PA      | $182001.37    | 0.11%             | 2035-01-25      | Variable      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust  | Citigroup Mortgage Loan Trust                                    | CUSIP: 17323TAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    189469 | PA      | $185607.58    | 0.11%             | 2053-01-25      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust  | Citigroup Mortgage Loan Trust                                    | CUSIP: 17327RAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    217979 | PA      | $214554.75    | 0.13%             | 2066-01-25      | Variable      | 3.50%                 | Yes           |                  2 | On Loan: No      |
| COMMONBOND STUDENT LOAN TRUST  | Commonbond Student Loan Trust                                    | CUSIP: 20268AAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    244596 | PA      | $215994.61    | 0.13%             | 2051-09-25      | Fixed         | 1.17%                 | Yes           |                  2 | On Loan: No      |
| COOPR Residential Mortgage Tru | COOPR Residential Mortgage Trust                                 | CUSIP: 216926AA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    743079 | PA      | $741054.00    | 0.44%             | 2060-09-25      | Variable      | 4.84%                 | Yes           |                  2 | On Loan: No      |
| CoreVest American Finance Ltd  | CoreVest American Finance, Ltd.                                  | CUSIP: 21873CAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     56659 | PA      | $56118.16     | 0.03%             | 2053-08-15      | Fixed         | 1.36%                 | Yes           |                  2 | On Loan: No      |
| Credit Suisse First Boston Mor | Credit Suisse First Boston Mortgage Securities Corp. REMIC       | CUSIP: 22541NT58<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      9935 | PA      | $9988.07      | 0.01%             | 2033-04-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Credit Suisse First Boston Mor | Credit Suisse First Boston Mortgage Securities Corp. REMIC       | CUSIP: 225458G28<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      1145 | PA      | $1088.18      | 0.00%             | 2026-01-07      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TWDC ENTERPRISES 18 CORP       | The Walt Disney Co., Class E                                     | CUSIP: 25468PCR5<br>LEI: 7260JQNI6SCF9FIV2392 | Long             | DBT              | CORP              | US        |   1192000 | PA      | $1040188.08   | 0.62%             | 2041-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| DOLLAR GENERAL CORP            | Dollar General Corp.                                             | CUSIP: 256677AG0<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | DBT              | CORP              | US        |    985000 | PA      | $952654.37    | 0.56%             | 2030-04-03      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP               | Duke Energy Corp.                                                | CUSIP: 26441CBZ7<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1191293.48   | 0.70%             | 2033-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| EDvestinU Private Education Lo | EDvestinU Private Education Loan Issue No. 3, LLC                | CUSIP: 28166LAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300151 | PA      | $281766.31    | 0.17%             | 2045-11-25      | Fixed         | 1.80%                 | Yes           |                  2 | On Loan: No      |
| EMERSON ELECTRIC CO            | Emerson Electric Co.                                             | CUSIP: 291011BT0<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | DBT              | CORP              | US        |    225000 | PA      | $230666.27    | 0.14%             | 2035-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP             | Energy Transfer LP                                               | CUSIP: 29273VAY6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1165000 | PA      | $1197219.83   | 0.71%             | 2034-05-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                    | Exelon Corp.                                                     | CUSIP: 30161NBQ3<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    420000 | PA      | $437027.75    | 0.26%             | 2055-03-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                    | Exelon Corp.                                                     | CUSIP: 30161NBR1<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    425000 | PA      | $438747.92    | 0.26%             | 2031-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC             | Meta Platforms, Inc.                                             | CUSIP: 30303M8H8<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    655000 | PA      | $635389.61    | 0.38%             | 2032-08-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC             | Meta Platforms, Inc.                                             | CUSIP: 30303MAC6<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    195000 | PA      | $196567.63    | 0.12%             | 2032-11-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| FRTKL                          | FRTKL 2021-SFR1                                                  | CUSIP: 30322DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    915000 | PA      | $896363.55    | 0.53%             | 2038-09-17      | Fixed         | 1.57%                 | Yes           |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3128MDSH7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       573 | PA      | $572.26       | 0.00%             | 2026-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3131WRDM4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    170916 | PA      | $172104.54    | 0.10%             | 2041-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 31329KN91<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     63616 | PA      | $64097.89     | 0.04%             | 2031-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 31329KNC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     60028 | PA      | $60440.43     | 0.04%             | 2030-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 31329MWE6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    759626 | PA      | $701989.93    | 0.42%             | 2043-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3132A4NY0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    260307 | PA      | $252806.89    | 0.15%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3132AATX2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    514968 | PA      | $500787.59    | 0.30%             | 2045-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3132DN4Z3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1640563 | PA      | $1616019.14   | 0.96%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3132DNET6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1425150 | PA      | $1365768.35   | 0.81%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3132DNF40<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1805555 | PA      | $1675410.99   | 0.99%             | 2052-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3132DNZ48<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2461070 | PA      | $2356225.86   | 1.39%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3132DUW52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    806496 | PA      | $827118.73    | 0.49%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3133KNEH2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    791485 | PA      | $680782.44    | 0.40%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3133KPL63<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    959264 | PA      | $915625.11    | 0.54%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3133KPUC0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1394907 | PA      | $1377279.33   | 0.81%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3133KQPM2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1197478 | PA      | $1206470.42   | 0.71%             | 2053-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3133KRCF9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1192594 | PA      | $1242425.13   | 0.74%             | 2053-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association REMIC                      | CUSIP: 3136AA2B0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     92264 | PA      | $91386.87     | 0.05%             | 2033-01-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fanniemae-Aces                 | Federal National Mortgage Association Interest Only              | CUSIP: 3136ARP44<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    203899 | PA      | $7189.22      | 0.00%             | 2039-01-25      | Variable      | 2.69%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association REMIC                      | CUSIP: 3136AXJH9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    955000 | PA      | $937796.25    | 0.55%             | 2037-11-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fanniemae-Aces                 | Federal National Mortgage Association REMIC                      | CUSIP: 3136B4TV0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-CBDO         | CORP              | US        |    432943 | PA      | $429839.62    | 0.25%             | 2029-04-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association REMIC                      | CUSIP: 3136BDMZ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    597215 | PA      | $543173.12    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3136BWMS2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1381213 | PA      | $1396550.89   | 0.83%             | 2036-07-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association REMIC                      | CUSIP: 31377TP26<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    691460 | PA      | $689593.28    | 0.41%             | 2033-12-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp. REMIC                           | CUSIP: 3137APF70<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    100351 | PA      | $100358.28    | 0.06%             | 2041-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp. Interest Only REMIC             | CUSIP: 3137BQLW5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    558470 | PA      | $89466.05     | 0.05%             | 2045-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp. REMIC                           | CUSIP: 3137FA2U1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    960000 | PA      | $941649.79    | 0.56%             | 2037-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3137FDET5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-CBDO         | USGSE             | US        |    740000 | PA      | $704748.32    | 0.42%             | 2032-11-25      | Variable      | 3.46%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3137FJGV5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    300154 | PA      | $297110.02    | 0.18%             | 2051-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Federal Home Loan Mortgage Corp.                                 | CUSIP: 3137HLKL5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    520151 | PA      | $537186.54    | 0.32%             | 2036-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3138EGHS6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    200386 | PA      | $196206.73    | 0.12%             | 2041-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3138EJUG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     66007 | PA      | $64554.71     | 0.04%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3138ESCG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    155022 | PA      | $153212.52    | 0.09%             | 2027-02-01      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3138L2LH8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1100566 | PA      | $1034148.04   | 0.61%             | 2033-01-01      | Fixed         | 3.31%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3138L3G82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1130320 | PA      | $1043676.06   | 0.62%             | 2043-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3138W92S8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    240274 | PA      | $234738.38    | 0.14%             | 2043-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3138WCQ55<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    300392 | PA      | $299963.39    | 0.18%             | 2044-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3138WEY94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    248601 | PA      | $239338.86    | 0.14%             | 2045-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140JWQJ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    307062 | PA      | $276363.29    | 0.16%             | 2049-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140Q7XN2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    295413 | PA      | $279401.68    | 0.17%             | 2047-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140QMKG8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    915961 | PA      | $817364.98    | 0.48%             | 2051-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140QNSX1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1164916 | PA      | $1043753.38   | 0.62%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140QP3B1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1780398 | PA      | $1750955.19   | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140QQB79<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    401949 | PA      | $405153.85    | 0.24%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140QTG86<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1518524 | PA      | $1554872.66   | 0.92%             | 2053-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140QVKW3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2269932 | PA      | $2285778.95   | 1.35%             | 2054-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140X6A35<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1777483 | PA      | $1575928.08   | 0.93%             | 2050-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140XFLM1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2523200 | PA      | $2253453.69   | 1.33%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140XGWR6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1794494 | PA      | $1671679.45   | 0.99%             | 2052-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140XHJE8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1532216 | PA      | $1468374.75   | 0.87%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140XJ3G6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1820581 | PA      | $1690495.71   | 1.00%             | 2052-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140XJWZ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    883752 | PA      | $787794.50    | 0.47%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140XKRB8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1011401 | PA      | $1019824.81   | 0.60%             | 2053-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 3140XLXH6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1345020 | PA      | $1355466.62   | 0.80%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 31410LDP4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     46022 | PA      | $46356.54     | 0.03%             | 2040-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 31416QX83<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     41257 | PA      | $41613.60     | 0.02%             | 2039-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 31417G3Y0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    275839 | PA      | $254910.06    | 0.15%             | 2043-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 31418MT93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     87947 | PA      | $88694.45     | 0.05%             | 2040-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Federal National Mortgage Association                            | CUSIP: 31419ALS4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     16470 | PA      | $17418.89     | 0.01%             | 2038-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust        | Flagstar Mortgage Trust                                          | CUSIP: 33851PAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    548648 | PA      | $496097.86    | 0.29%             | 2051-07-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC       | Ford Motor Credit Co., LLC                                       | CUSIP: 345397E58<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    550000 | PA      | $561959.74    | 0.33%             | 2029-03-08      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT             | Federal Home Loan Mortgage Corp.                                 | CUSIP: 35563PBF5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    520807 | PA      | $496960.39    | 0.29%             | 2056-08-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT             | Seasoned Credit Risk Transfer Trust                              | CUSIP: 35563PCS6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    453953 | PA      | $448211.38    | 0.27%             | 2057-06-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT             | Federal Home Loan Mortgage Corp.                                 | CUSIP: 35563PFB0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    236864 | PA      | $226163.45    | 0.13%             | 2057-11-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT             | Federal Home Loan Mortgage Corp.                                 | CUSIP: 35563PQS1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    539654 | PA      | $497242.90    | 0.29%             | 2059-11-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SLST             | Seasoned Loans Structured Transaction Trust                      | CUSIP: 35564CDD6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1510000 | PA      | $1427747.88   | 0.84%             | 2029-09-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SLST             | Seasoned Loans Structured Transaction Trust                      | CUSIP: 35564CEJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    500000 | PA      | $474843.90    | 0.28%             | 2029-11-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SLST             | Seasoned Loans Structured Transaction Trust                      | CUSIP: 35564CEV5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    559951 | PA      | $520924.46    | 0.31%             | 2030-07-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SLST             | Seasoned Loans Structured Transaction Trust                      | CUSIP: 35564CGQ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    347731 | PA      | $324035.52    | 0.19%             | 2030-09-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                         | CUSIP: 36180MYG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGSE             | US        |    302513 | PA      | $279640.17    | 0.17%             | 2043-03-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust   | Goldman Sachs Mortgage Securities Trust Interest Only REMIC      | CUSIP: 36191YAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    351922 | PA      | $251.03       | 0.00%             | 2044-08-10      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                         | CUSIP: 3622ACSC5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGSE             | US        |    706541 | PA      | $720818.63    | 0.43%             | 2053-09-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC        | The Goldman Sachs Group, Inc.                                    | CUSIP: 38141GZM9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1197593.24   | 0.71%             | 2033-02-24      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                         | CUSIP: 38377FJK8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-CBDO         | CORP              | US        |    740095 | PA      | $764843.85    | 0.45%             | 2040-05-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association REMIC                   | CUSIP: 38377V3U8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-CBDO         | USGSE             | US        |    498057 | PA      | $501826.04    | 0.30%             | 2034-07-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                         | CUSIP: 38380JH68<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-CBDO         | USGSE             | US        |    311664 | PA      | $301893.73    | 0.18%             | 2050-04-16      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                         | CUSIP: 38380LSA2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-CBDO         | USGSE             | US        |    344420 | PA      | $336093.19    | 0.20%             | 2069-01-20      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                         | CUSIP: 38381LY89<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | CORP              | US        |    838182 | PA      | $834825.81    | 0.49%             | 2065-03-16      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                         | CUSIP: 38381MJB7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | CORP              | US        |    848048 | PA      | $843394.89    | 0.50%             | 2055-10-16      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                         | CUSIP: 38381MRU6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | CORP              | US        |    863182 | PA      | $869210.50    | 0.51%             | 2042-05-16      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                         | CUSIP: 38382QLF5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | CORP              | US        |    496975 | PA      | $497205.54    | 0.29%             | 2051-04-20      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO               | Hewlett Packard Enterprise Co.                                   | CUSIP: 42824CBV0<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    625000 | PA      | $619508.89    | 0.37%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Home Partners of America Trust | Home Partners of America Trust                                   | CUSIP: 43730XAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    783620 | PA      | $738227.10    | 0.44%             | 2041-01-17      | Fixed         | 2.20%                 | Yes           |                  2 | On Loan: No      |
| Hudson Yards                   | Hudson Yards Mortgage Trust                                      | CUSIP: 44421GAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1065000 | PA      | $1019295.21   | 0.60%             | 2039-07-10      | Fixed         | 3.23%                 | Yes           |                  2 | On Loan: No      |
| Hundred Acre Wood Trust        | Hundred Acre Wood Trust                                          | CUSIP: 44590HAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    765812 | PA      | $695411.40    | 0.41%             | 2051-07-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| HUNTINGTON INGALLS INDUS       | Huntington Ingalls Industries, Inc.                              | CUSIP: 446413AL0<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |   1177000 | PA      | $1163397.22   | 0.69%             | 2027-12-01      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTALEXCHANGE       | Intercontinental Exchange, Inc.                                  | CUSIP: 45866FAK0<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |   1244000 | PA      | $1138655.97   | 0.67%             | 2030-06-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co.                                             | CUSIP: 46647PEC6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1165000 | PA      | $1207427.93   | 0.71%             | 2035-01-23      | Variable      | 5.34%                 | No            |                  2 | On Loan: No      |
| KEYCORP                        | KeyCorp                                                          | CUSIP: 49326EEK5<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    470000 | PA      | $459367.25    | 0.27%             | 2027-04-06      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| KROGER CO                      | The Kroger Co.                                                   | CUSIP: 501044DV0<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    665000 | PA      | $668673.61    | 0.40%             | 2034-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAND O LAKES CAP TRST I        | Land O'Lakes Capital Trust I                                     | CUSIP: 514665AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    530000 | PA      | $540600.00    | 0.32%             | 2028-03-15      | Fixed         | 7.45%                 | Yes           |                  2 | On Loan: No      |
| LEVI STRAUSS & CO              | Levi Strauss & Co.                                               | CUSIP: 52736RBJ0<br>LEI: MB0UERO0RDFKU8258G77 | Long             | DBT              | CORP              | US        |    400000 | PA      | $372489.20    | 0.22%             | 2031-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| LINCOLN W HAYMARKET NE JT PUBL | West Haymarket Joint Public Agency                               | CUSIP: 534366AX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $445125.36    | 0.26%             | 2039-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                     | MFRA Trust                                                       | CUSIP: 55284TAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    346846 | PA      | $344309.35    | 0.20%             | 2066-04-25      | Variable      | 3.91%                 | Yes           |                  2 | On Loan: No      |
| MARS INC                       | Mars, Inc.                                                       | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    685000 | PA      | $704063.30    | 0.42%             | 2035-03-01      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| MCDONALD'S CORP                | McDonald's Corp.                                                 | CUSIP: 58013MFK5<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1140625.52   | 0.67%             | 2049-09-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Accepta | Mello Mortgage Capital Acceptance                                | CUSIP: 58549XAF0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    681236 | PA      | $612328.84    | 0.36%             | 2051-08-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| MOLEX ELECTRONICS TECH         | Molex Electronic Technologies, LLC                               | CUSIP: 60856BAF1<br>LEI: 549300WTBVUFUPSIWI20 | Long             | DBT              | CORP              | US        |    430000 | PA      | $441427.46    | 0.26%             | 2032-04-30      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY                 | Morgan Stanley                                                   | CUSIP: 61747YEU5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1165000 | PA      | $1181772.83   | 0.70%             | 2033-07-20      | Variable      | 4.89%                 | No            |                  2 | On Loan: No      |
| MOSAIC CO                      | The Mosaic Co.                                                   | CUSIP: 61945CAD5<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | DBT              | CORP              | US        |    819000 | PA      | $841463.00    | 0.50%             | 2033-11-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| NMABS Issuer I, LLC.           | NMABS Issuer I, LLC                                              | CUSIP: 629174AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    644866 | PA      | $644076.77    | 0.38%             | 2055-11-22      | Fixed         | 5.14%                 | Yes           |                  2 | On Loan: No      |
| NNN REIT INC                   | NNN REIT, Inc.                                                   | CUSIP: 637417AL0<br>LEI: 5493008JKH5SOTI0JS97 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1005838.89   | 0.60%             | 2028-10-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust     | Navient Student Loan Trust                                       | CUSIP: 63942GAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    332186 | PA      | $296151.14    | 0.18%             | 2070-02-18      | Fixed         | 1.11%                 | Yes           |                  2 | On Loan: No      |
| Nelnet Student Loan Trust      | Nelnet Student Loan Trust                                        | CUSIP: 64034YAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    162756 | PA      | $155317.17    | 0.09%             | 2062-04-20      | Fixed         | 1.63%                 | Yes           |                  2 | On Loan: No      |
| Nelnet Student Loan Trust      | Nelnet Student Loan Trust                                        | CUSIP: 64035DAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    291617 | PA      | $275902.59    | 0.16%             | 2062-04-20      | Fixed         | 1.36%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust REMIC                        | CUSIP: 64829CAA6<br>LEI: 549300RCJSGOC0A85G53 | Long             | ABS-CBDO         | CORP              | US        |     74974 | PA      | $72567.20     | 0.04%             | 2052-05-28      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust REMIC                        | CUSIP: 64829DAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    125914 | PA      | $121360.39    | 0.07%             | 2054-11-25      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust REMIC                        | CUSIP: 64829EAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    217464 | PA      | $212170.11    | 0.13%             | 2055-08-25      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust                              | CUSIP: 64830GAB2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    219009 | PA      | $214625.01    | 0.13%             | 2057-12-25      | Variable      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust                              | CUSIP: 64830TAD0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    169125 | PA      | $159607.06    | 0.09%             | 2059-10-25      | Variable      | 3.50%                 | Yes           |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN  | New York City Municipal Water Finance Authority                  | CUSIP: 64972FT30<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    340000 | PA      | $341980.19    | 0.20%             | 2042-06-15      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST URBAN DEV CORP REV | Empire State Development Corp.                                   | CUSIP: 650035TD0<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |    230000 | PA      | $236892.85    | 0.14%             | 2039-03-15      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                   | NiSource, Inc.                                                   | CUSIP: 65473PAQ8<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    670000 | PA      | $690689.69    | 0.41%             | 2034-04-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | Onslow Bay Financial LLC                                         | CUSIP: 67116WAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    533465 | PA      | $486712.47    | 0.29%             | 2052-02-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | Onslow Bay Financial LLC                                         | CUSIP: 67449LAA9<br>LEI: 2549003HKVOL66FLG606 | Long             | ABS-MBS          | CORP              | US        |    585212 | PA      | $585325.90    | 0.35%             | 2065-10-25      | Variable      | 4.87%                 | Yes           |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp.                                                     | CUSIP: 68389XCD5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    665000 | PA      | $634140.34    | 0.38%             | 2028-03-25      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp.                                                     | CUSIP: 68389XDH5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    400000 | PA      | $391334.42    | 0.23%             | 2030-09-26      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| PSMC Trust                     | PSMC Trust                                                       | CUSIP: 69376DAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    764604 | PA      | $694617.48    | 0.41%             | 2051-08-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| PAYCHEX INC                    | Paychex, Inc.                                                    | CUSIP: 704326AC1<br>LEI: 529900K900DW6SUBM174 | Long             | DBT              | CORP              | US        |    475000 | PA      | $497465.12    | 0.29%             | 2035-04-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| PIONEER NATURAL RESOURCE       | Pioneer Natural Resources Co.                                    | CUSIP: 723787AR8<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | DBT              | CORP              | US        |    445000 | PA      | $403588.80    | 0.24%             | 2031-01-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential Trust                                       | CUSIP: 74333HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    805819 | PA      | $795643.62    | 0.47%             | 2038-07-17      | Fixed         | 1.52%                 | Yes           |                  2 | On Loan: No      |
| Provident Funding Mortgage Tru | Provident Funding Mortgage Trust                                 | CUSIP: 74387YAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1175331 | PA      | $1057269.25   | 0.63%             | 2051-04-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Purchasing Power Funding       | Purchasing Power Funding, LLC                                    | CUSIP: 745935AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $601605.00    | 0.36%             | 2028-08-15      | Fixed         | 5.89%                 | Yes           |                  2 | On Loan: No      |
| QUALCOMM INC                   | QUALCOMM, Inc.                                                   | CUSIP: 747525AV5<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $944578.00    | 0.56%             | 2047-05-20      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management    | Woodward Capital Management                                      | CUSIP: 74938FAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    679072 | PA      | $607730.01    | 0.36%             | 2052-01-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| RTX CORP                       | RTX Corp.                                                        | CUSIP: 75513ECA7<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1252000 | PA      | $1208844.42   | 0.72%             | 2040-10-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| REGIONS FINANCIAL CORP         | Regions Financial Corp.                                          | CUSIP: 7591EPAT7<br>LEI: CW05CS5KW59QTC0DG824 | Long             | DBT              | CORP              | US        |    830000 | PA      | $785350.10    | 0.46%             | 2028-08-12      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| REGIONS FINANCIAL CORP         | Regions Financial Corp.                                          | CUSIP: 7591EPAV2<br>LEI: CW05CS5KW59QTC0DG824 | Long             | DBT              | CORP              | US        |    500000 | PA      | $515023.07    | 0.30%             | 2035-09-06      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Residential Accredit Loans, In | Residential Accredit Loans, Inc. Trust REMIC                     | CUSIP: 76110G6V8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     13500 | PA      | $8576.99      | 0.01%             | 2026-01-07      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust         | SLM Student Loan Trust                                           | CUSIP: 78444GAC8<br>LEI: 549300OORAXMFXOHG132 | Long             | ABS-MBS          | CORP              | US        |    293955 | PA      | $293783.70    | 0.17%             | 2083-10-25      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust         | SLM Student Loan Trust                                           | CUSIP: 78445AAD8<br>LEI: 549300EQOYJZL2D96G46 | Long             | ABS-MBS          | CORP              | US        |    418977 | PA      | $420246.27    | 0.25%             | 2029-04-15      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| Sabey Data Center Issuer LLC   | Sabey Data Center Issuer, LLC                                    | CUSIP: 78520EAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    435000 | PA      | $428624.16    | 0.25%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Sequoia Mortgage Trust         | Sequoia Mortgage Trust REMIC                                     | CUSIP: 81746MAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     94684 | PA      | $92945.12     | 0.05%             | 2030-11-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Sequoia Mortgage Trust         | Sequoia Mortgage Trust                                           | CUSIP: 81748WAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    669075 | PA      | $593813.66    | 0.35%             | 2051-06-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Stack Infrastructure Issuer LL | Stack Infrastructure Issuer, LLC                                 | CUSIP: 85236KAE2<br>LEI: 254900AV7V87H3A2WM57 | Long             | ABS-MBS          | CORP              | US        |    595000 | PA      | $590627.46    | 0.35%             | 2046-03-26      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| Sutherland Commercial Mortgage | Sutherland Commercial Mortgage Trust                             | CUSIP: 86935CAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    475817 | PA      | $456665.89    | 0.27%             | 2041-04-25      | Variable      | 2.86%                 | Yes           |                  2 | On Loan: No      |
| Sutherland Commercial Mortgage | Sutherland Commercial Mortgage Trust                             | CUSIP: 86935JAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    190770 | PA      | $179634.18    | 0.11%             | 2041-12-25      | Variable      | 1.55%                 | Yes           |                  2 | On Loan: No      |
| TTX CO                         | TTX Co.                                                          | CUSIP: 87305QCN9<br>LEI: 549300I8CNSYS1OGX775 | Long             | DBT              | CORP              | US        |    815000 | PA      | $707470.88    | 0.42%             | 2049-02-01      | Fixed         | 4.60%                 | Yes           |                  2 | On Loan: No      |
| TAPESTRY INC                   | Tapestry, Inc.                                                   | CUSIP: 876030AK3<br>LEI: 549300LJNVY5SW3VTN33 | Long             | DBT              | CORP              | US        |    525000 | PA      | $538967.88    | 0.32%             | 2030-03-11      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| TEXAS ELECTRIC MKT STABL       | Texas Electric Market Stabilization Funding N, LLC               | CUSIP: 88240TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    588586 | PA      | $586432.07    | 0.35%             | 2034-08-01      | Fixed         | 4.26%                 | Yes           |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust                                        | CUSIP: 89190KAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    753780 | PA      | $756878.73    | 0.45%             | 2065-06-25      | Variable      | 4.82%                 | Yes           |                  2 | On Loan: No      |
| Tricon American Homes          | Tricon American Homes Trust                                      | CUSIP: 89613JAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1109313 | PA      | $1058134.81   | 0.63%             | 2039-11-17      | Fixed         | 1.48%                 | Yes           |                  2 | On Loan: No      |
| Tricon Residential             | Tricon Residential Trust                                         | CUSIP: 89616QAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    607143 | PA      | $603696.51    | 0.36%             | 2039-04-17      | Fixed         | 3.86%                 | Yes           |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP          | Truist Financial Corp.                                           | CUSIP: 89788MAM4<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1192094.23   | 0.71%             | 2034-01-26      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| US BANCORP                     | U.S. Bancorp                                                     | CUSIP: 91159HJL5<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    985000 | PA      | $992237.22    | 0.59%             | 2034-02-01      | Variable      | 4.84%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | U.S. Treasury Bond                                               | CUSIP: 912810RC4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9910000 | PA      | $8554342.92   | 5.06%             | 2043-08-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | U.S. Treasury Note/Bond                                          | CUSIP: 912810SL3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9190000 | PA      | $5386919.58   | 3.19%             | 2050-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | U.S. Treasury Bond                                               | CUSIP: 912810TR9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1320000 | PA      | $1067807.81   | 0.63%             | 2053-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | U.S. Treasury Bond                                               | CUSIP: 912810TU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    275000 | PA      | $262678.71    | 0.16%             | 2043-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | U.S. Treasury Note/Bond                                          | CUSIP: 912828Z94<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7605000 | PA      | $6985311.29   | 4.13%             | 2030-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | U.S. Treasury Note/Bond                                          | CUSIP: 91282CDY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13690000 | PA      | $12209234.02  | 7.22%             | 2032-02-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | U.S. Treasury Note/Bond                                          | CUSIP: 91282CHT1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3540000 | PA      | $3510546.10   | 2.08%             | 2033-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | U.S. Treasury Note/Bond                                          | CUSIP: 91282CKD2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1500000 | PA      | $1530351.57   | 0.91%             | 2029-02-28      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | U.S. Treasury Note/Bond                                          | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1550000 | PA      | $1566287.11   | 0.93%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | U.S. Treasury Note/Bond                                          | CUSIP: 91282CPJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $295687.50    | 0.17%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Vantage Data Centers LLC       | Vantage Data Centers, LLC                                        | CUSIP: 92212KAH9<br>LEI: 5493000RL8X7WTQ7HO20 | Long             | ABS-CBDO         | CORP              | US        |    620000 | PA      | $612780.60    | 0.36%             | 2055-08-15      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| Velocity Commercial Capital Lo | Velocity Commercial Capital Loan Trust                           | CUSIP: 92259PAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    312291 | PA      | $316451.43    | 0.19%             | 2054-04-25      | Variable      | 6.58%                 | Yes           |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS         | Verizon Communications, Inc.                                     | CUSIP: 92343VGB4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    905000 | PA      | $642402.06    | 0.38%             | 2051-03-22      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC           | Waste Management, Inc.                                           | CUSIP: 94106LBP3<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    935000 | PA      | $816686.83    | 0.48%             | 2031-03-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY          | Wells Fargo & Co.                                                | CUSIP: 95000U2J1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1285000 | PA      | $1200170.15   | 0.71%             | 2031-02-11      | Variable      | 2.57%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust                            | CUSIP: 95004JAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    480000 | PA      | $508255.15    | 0.30%             | 2058-01-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-23

**Name of Applicant:** Tributary Funds, Inc.

**Signature:** /s/ Karen Shaw

**Name of Signer:** Karen Shaw

**Title:** Treasurer