# EDGAR Filing Document

**Accession Number:** 0001081400
**File Stem:** 0001752724-25-180800
**Filing Date:** 2025-7
**Character Count:** 391671
**Document Hash:** 67eba243cb052cca298a35d901a0fda3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-180800.hdr.sgml**: 20250728

**ACCESSION NUMBER**: 0001752724-25-180800

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250728

**DATE AS OF CHANGE**: 20250728

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALLSPRING FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001081400

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09253
- **FILM NUMBER:** 251155319

**BUSINESS ADDRESS:**
- **STREET 1:** 1415 VANTAGE PARK DRIVE
- **STREET 2:** 3RD FLOOR
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28203
- **BUSINESS PHONE:** 833-568-4225

**MAIL ADDRESS:**
- **STREET 1:** 1415 VANTAGE PARK DRIVE
- **STREET 2:** 3RD FLOOR
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WELLS FARGO FUNDS TRUST
- **DATE OF NAME CHANGE:** 19990308

## Series and Classes Contracts Data

### Allspring Managed Account CoreBuilder Shares Series CP (Series ID: S000069934)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000222758 | CoreBuilder Shares Series CP | WFCPX           |

## Nport-Ex

Portfolio of investments—May 31, 2025 (unaudited)

Portfolio of investments

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest <br>rate<br>| Maturity <br>date<br>| Principal | Value |
| **Agency securities: 18.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; FHLB | 5.63<br> %<br>| &nbsp;&nbsp; 3-14-2036 | $500000 | &nbsp;&nbsp; $537672 |
| &nbsp;&nbsp;&nbsp; FNMA%% | 2.00 | &nbsp;&nbsp; 6-15-2054 | 315000 | &nbsp;&nbsp; 244699 |
| &nbsp;&nbsp;&nbsp; FNMA%% | 4.00 | &nbsp;&nbsp; 6-15-2039 | 265000 | &nbsp;&nbsp; 256489 |
| &nbsp;&nbsp;&nbsp; FNMA%% | 5.00 | &nbsp;&nbsp; 6-15-2054 | 4150000 | &nbsp;&nbsp; 4016603 |
| &nbsp;&nbsp;&nbsp; FNMA%% | 5.50 | &nbsp;&nbsp; 6-15-2054 | 49175000 | &nbsp;&nbsp; 48678897 |
| &nbsp;&nbsp;&nbsp; FNMA%% | 6.00 | &nbsp;&nbsp; 6-15-2054 | 24835000 | &nbsp;&nbsp; 25077426 |
| &nbsp;&nbsp;&nbsp; FNMA%% | 6.50 | &nbsp;&nbsp; 6-15-2054 | 10305000 | &nbsp;&nbsp; 10580822 |
| &nbsp;&nbsp;&nbsp; GNMA%% | 2.00 | &nbsp;&nbsp; 6-15-2054 | 455000 | &nbsp;&nbsp; 365398 |
| &nbsp;&nbsp;&nbsp; GNMA%% | 2.50 | &nbsp;&nbsp; 6-15-2054 | 1030000 | &nbsp;&nbsp; 862733 |
| &nbsp;&nbsp;&nbsp; GNMA%% | 3.00 | &nbsp;&nbsp; 6-15-2054 | 2545000 | &nbsp;&nbsp; 2216831 |
| &nbsp;&nbsp;&nbsp; GNMA%% | 3.50 | &nbsp;&nbsp; 6-15-2054 | 1575000 | &nbsp;&nbsp; 1401047 |
| &nbsp;&nbsp;&nbsp; GNMA%% | 4.00 | &nbsp;&nbsp; 6-15-2054 | 250000 | &nbsp;&nbsp; 228898 |
| &nbsp;&nbsp;&nbsp; GNMA%% | 5.00 | &nbsp;&nbsp; 6-15-2054 | 19200000 | &nbsp;&nbsp; 18623905 |
| &nbsp;&nbsp;&nbsp; GNMA%% | 5.50 | &nbsp;&nbsp; 6-15-2054 | 13620000 | &nbsp;&nbsp; 13521574 |
| &nbsp;&nbsp;&nbsp; GNMA%% | 6.00 | &nbsp;&nbsp; 6-15-2054 | 15585000 | &nbsp;&nbsp; 15733576 |
| &nbsp;&nbsp;&nbsp; GNMA%% | 6.50 | &nbsp;&nbsp; 6-15-2054 | 6450000 | &nbsp;&nbsp; 6585741 |
| &nbsp;&nbsp;&nbsp; TVA | 5.25 | &nbsp;&nbsp; 2-1-2055 | 2695000 | &nbsp;&nbsp; 2554649 |
| **Total agency securities (Cost $151,672,560)** |  |  |  | &nbsp;&nbsp; **151486960** |
| **Asset-backed securities: 21.68%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; ACHM Trust Series 2023-HE2 Class A144A±± | 7.50 | &nbsp;&nbsp; 10-25-2038 | 2170576 | &nbsp;&nbsp; 2217761 |
| &nbsp;&nbsp;&nbsp; ACHM Trust Series 2024-HE2 Class A144A | 5.35 | &nbsp;&nbsp; 10-25-2039 | 3080350 | &nbsp;&nbsp; 3061721 |
| &nbsp;&nbsp;&nbsp; ACHM Trust Series 2025-HE1 Class A144A±± | 5.92 | &nbsp;&nbsp; 3-25-2055 | 354173 | &nbsp;&nbsp; 356134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ACREC LLC Series 2025-FL3 Class A (U.S. SOFR 1 <br> Month+1.31%)144A±<br>| 5.64 | &nbsp;&nbsp; 8-18-2042 | 1000000 | &nbsp;&nbsp; 994282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affirm Asset Securitization Trust Series 2024-B <br> Class A144A<br>| 4.62 | &nbsp;&nbsp; 9-15-2029 | 2000000 | &nbsp;&nbsp; 1996298 |
| &nbsp;&nbsp;&nbsp; ALLO Issuer LLC Series 2024-1A Class A2144A | 5.94 | &nbsp;&nbsp; 7-20-2054 | 1500000 | &nbsp;&nbsp; 1516953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Credit Acceptance Receivables Trust <br> Series 2024-4 Class B144A<br>| 4.80 | &nbsp;&nbsp; 11-13-2028 | 3600000 | &nbsp;&nbsp; 3597356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Avis Budget Rental Car Funding AESOP LLC <br> Series 2023-6A Class A144A<br>| 5.81 | &nbsp;&nbsp; 12-20-2029 | 260000 | &nbsp;&nbsp; 268845 |
| &nbsp;&nbsp;&nbsp; BHG Securitization Trust Series 2021-A Class B144A | 2.79 | &nbsp;&nbsp; 11-17-2033 | 625000 | &nbsp;&nbsp; 600104 |
| &nbsp;&nbsp;&nbsp; BHG Securitization Trust Series 2025-1CON Class B144A | 5.26 | &nbsp;&nbsp; 4-17-2036 | 3565000 | &nbsp;&nbsp; 3569266 |
| &nbsp;&nbsp;&nbsp; Blue Bridge Funding LLC Series 2023-1A Class A144A | 7.37 | &nbsp;&nbsp; 11-15-2030 | 41714 | &nbsp;&nbsp; 42086 |
| &nbsp;&nbsp;&nbsp; Blue Bridge Funding LLC Series 2023-1A Class B144A | 9.48 | &nbsp;&nbsp; 11-15-2030 | 100000 | &nbsp;&nbsp; 101559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blue Owl Asset Leasing Trust LLC Series 2024-1A <br> Class C144A<br>| 6.38 | &nbsp;&nbsp; 1-15-2031 | 1700000 | &nbsp;&nbsp; 1717999 |
| &nbsp;&nbsp;&nbsp; Bojangles Issuer LLC Series 2024-1A Class A2144A | 6.58 | &nbsp;&nbsp; 11-20-2054 | 5500000 | &nbsp;&nbsp; 5543030 |
| &nbsp;&nbsp;&nbsp; Cajun Global LLC Series 2021-1 Class A2144A | 3.93 | &nbsp;&nbsp; 11-20-2051 | 178756 | &nbsp;&nbsp; 173362 |
| &nbsp;&nbsp;&nbsp; Carvana Auto Receivables Trust Series 2024-P2 Class A3 | 5.33 | &nbsp;&nbsp; 7-10-2029 | 1230000 | &nbsp;&nbsp; 1241331 |
| &nbsp;&nbsp;&nbsp; CCAS LLC Series 2024-1A Class A144A | 7.12 | &nbsp;&nbsp; 6-16-2031 | 1315000 | &nbsp;&nbsp; 1329289 |
| &nbsp;&nbsp;&nbsp; Centersquare Issuer LLC Series 2024-1A Class A2144A | 5.20 | &nbsp;&nbsp; 10-26-2054 | 1500000 | &nbsp;&nbsp; 1460307 |
| &nbsp;&nbsp;&nbsp; Centersquare Issuer LLC Series 2025-1A Class A2144A | 5.50 | &nbsp;&nbsp; 3-26-2055 | 3600000 | &nbsp;&nbsp; 3455545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ClickLease Equipment Receivables Trust Series 2024-1 <br> Class C144A<br>| 8.40 | &nbsp;&nbsp; 2-15-2030 | 1000000 | &nbsp;&nbsp; 1017380 |
| &nbsp;&nbsp;&nbsp; Cloud Capital Holdco LP Series 2024-1A Class A2144A | 5.78 | &nbsp;&nbsp; 11-22-2049 | 1000000 | &nbsp;&nbsp; 1003030 |
| &nbsp;&nbsp;&nbsp; Cogent IPv4 LLC Series 2024-1A Class A2144A | 7.92 | &nbsp;&nbsp; 5-25-2054 | 2320000 | &nbsp;&nbsp; 2422448 |

---

See accompanying notes to portfolio of investments

Allspring Managed Account CoreBuilder® Shares - Series CP \| 1

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cologix Data Centers U.S. Issuer LLC Series 2021-1A <br> Class B144A<br>| 3.79<br> %<br>| &nbsp;&nbsp; 12-26-2051 | $1350000 | &nbsp;&nbsp; $1287109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crockett Partners Equipment Co. IIA LLC Series 2024-1C <br> Class A144A<br>| 6.05 | &nbsp;&nbsp; 1-20-2031 | 1866667 | &nbsp;&nbsp; 1887549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CyrusOne Data Centers Issuer I LLC Series 2023-2A <br> Class A2144A<br>| 5.56 | &nbsp;&nbsp; 11-20-2048 | 1025000 | &nbsp;&nbsp; 1028626 |
| &nbsp;&nbsp;&nbsp; DataBank Issuer LLC Series 2021-1A Class B144A | 2.65 | &nbsp;&nbsp; 2-27-2051 | 250000 | &nbsp;&nbsp; 242743 |
| &nbsp;&nbsp;&nbsp; DataBank Issuer LLC Series 2024-1A Class A2144A | 5.30 | &nbsp;&nbsp; 1-26-2054 | 6620000 | &nbsp;&nbsp; 6515135 |
| &nbsp;&nbsp;&nbsp; DB Master Finance LLC Series 2021-1A Class A23144A | 2.79 | &nbsp;&nbsp; 11-20-2051 | 294325 | &nbsp;&nbsp; 254018 |
| &nbsp;&nbsp;&nbsp; DI Issuer LLC Series 2024-1A Class A2144A | 5.81 | &nbsp;&nbsp; 9-15-2054 | 1000000 | &nbsp;&nbsp; 990555 |
| &nbsp;&nbsp;&nbsp; Driven Brands Funding LLC Series 2021-1A Class A2144A | 2.79 | &nbsp;&nbsp; 10-20-2051 | 979256 | &nbsp;&nbsp; 907168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Edgeconnex Data Centers Issuer LLC Series 2024-1 <br> Class A2144A<br>| 6.00 | &nbsp;&nbsp; 7-27-2054 | 1052910 | &nbsp;&nbsp; 1047811 |
| &nbsp;&nbsp;&nbsp; FIGRE Trust Series 2023-HE1 Class A144A | 5.85 | &nbsp;&nbsp; 3-25-2053 | 116852 | &nbsp;&nbsp; 117646 |
| &nbsp;&nbsp;&nbsp; FIGRE Trust Series 2023-HE3 Class A144A±± | 6.44 | &nbsp;&nbsp; 11-25-2053 | 356570 | &nbsp;&nbsp; 365090 |
| &nbsp;&nbsp;&nbsp; FIGRE Trust Series 2024-HE2 Class A144A±± | 6.38 | &nbsp;&nbsp; 5-25-2054 | 1578581 | &nbsp;&nbsp; 1609763 |
| &nbsp;&nbsp;&nbsp; FIGRE Trust Series 2024-HE5 Class A144A±± | 5.44 | &nbsp;&nbsp; 10-25-2054 | 3766996 | &nbsp;&nbsp; 3779597 |
| &nbsp;&nbsp;&nbsp; FIGRE Trust Series 2025-HE1 Class A144A±± | 5.83 | &nbsp;&nbsp; 1-25-2055 | 5069768 | &nbsp;&nbsp; 5116292 |
| &nbsp;&nbsp;&nbsp; First National Master Note Trust Series 2024-1 Class A | 5.34 | &nbsp;&nbsp; 5-15-2030 | 840000 | &nbsp;&nbsp; 854881 |
| &nbsp;&nbsp;&nbsp; Five Guys Holdings, Inc. Series 2023-1A Class A2144A | 7.55 | &nbsp;&nbsp; 1-26-2054 | 4029750 | &nbsp;&nbsp; 4149340 |
| &nbsp;&nbsp;&nbsp; Flexential Issuer Series 2021-1A Class A2144A | 3.25 | &nbsp;&nbsp; 11-27-2051 | 5815000 | &nbsp;&nbsp; 5562251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ford Credit Floorplan Master Owner Trust A Series 2023-1 <br> Class B144A<br>| 5.31 | &nbsp;&nbsp; 5-15-2028 | 1335000 | &nbsp;&nbsp; 1339229 |
| &nbsp;&nbsp;&nbsp; FREED Mortgage Trust Series 2022-HE1 Class B144A±± | 7.00 | &nbsp;&nbsp; 10-25-2037 | 2105000 | &nbsp;&nbsp; 2180047 |
| &nbsp;&nbsp;&nbsp; Frontier Issuer LLC Series 2023-1 Class A2144A | 6.60 | &nbsp;&nbsp; 8-20-2053 | 2500000 | &nbsp;&nbsp; 2535603 |
| &nbsp;&nbsp;&nbsp; Frontier Issuer LLC Series 2024-1 Class A2144A | 6.19 | &nbsp;&nbsp; 6-20-2054 | 1000000 | &nbsp;&nbsp; 1025823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Golub Capital Partners ABS Funding Series 2024-1A <br> Class A2144A<br>| 6.89 | &nbsp;&nbsp; 1-25-2034 | 270000 | &nbsp;&nbsp; 272054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gracie Point International Funding LLC Series 2023-1A <br> Class B (90 Day Average U.S. SOFR+2.60%)144A±<br>| 7.02 | &nbsp;&nbsp; 9-1-2026 | 275000 | &nbsp;&nbsp; 274997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hertz Vehicle Financing III LLC Series 2023-4A <br> Class A144A<br>| 6.15 | &nbsp;&nbsp; 3-25-2030 | 3600000 | &nbsp;&nbsp; 3726289 |
| &nbsp;&nbsp;&nbsp; Hipgnosis Music Assets LP Series 2022-1 Class A144A | 5.00 | &nbsp;&nbsp; 5-16-2062 | 4150044 | &nbsp;&nbsp; 4077479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Home Partners of America Trust Series 2021-1 <br> Class D144A<br>| 2.48 | &nbsp;&nbsp; 9-17-2041 | 400882 | &nbsp;&nbsp; 348001 |
| &nbsp;&nbsp;&nbsp; Hotwire Funding LLC Series 2021-1 Class A2144A | 2.31 | &nbsp;&nbsp; 11-20-2051 | 1050000 | &nbsp;&nbsp; 1005710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jack in the Box Funding LLC Series 2022-1A <br> Class A2II144A<br>| 4.14 | &nbsp;&nbsp; 2-26-2052 | 2618000 | &nbsp;&nbsp; 2330211 |
| &nbsp;&nbsp;&nbsp; Jimmy Johns Funding LLC Series 2017-1A Class A2II144A | 4.85 | &nbsp;&nbsp; 7-30-2047 | 160188 | &nbsp;&nbsp; 157291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lendbuzz Securitization Trust Series 2024-3A <br> Class A2144A<br>| 4.97 | &nbsp;&nbsp; 10-15-2029 | 1881947 | &nbsp;&nbsp; 1882017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lyra Music Assets Delaware LP Series 2024-2A <br> Class A2144A<br>| 5.76 | &nbsp;&nbsp; 12-22-2064 | 4992834 | &nbsp;&nbsp; 4918316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mariner Finance Issuance Trust Series 2025-AA <br> Class A144A<br>| 4.98 | &nbsp;&nbsp; 5-20-2038 | 5000000 | &nbsp;&nbsp; 5021875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MF1 Ltd. Series 2021-FL7 Class A (U.S. SOFR 1 <br> Month+1.19%)144A±<br>| 5.52 | &nbsp;&nbsp; 10-16-2036 | 199229 | &nbsp;&nbsp; 198991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MF1 Ltd. Series 2021-FL7 Class E (U.S. SOFR 1 <br> Month+2.91%)144A±<br>| 7.24 | &nbsp;&nbsp; 10-16-2036 | 3300000 | &nbsp;&nbsp; 3214059 |

---

See accompanying notes to portfolio of investments

2 \| Allspring Managed Account CoreBuilder® Shares - Series CP

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MF1 Ltd. Series 2022-FL8 Class A (U.S. SOFR 1 <br> Month+1.35%)144A±<br>| 5.67<br> %<br>| &nbsp;&nbsp; 2-19-2037 | $418954 | &nbsp;&nbsp; $418676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MF1 Ltd. Series 2022-FL8 Class C (U.S. SOFR 1 <br> Month+2.20%)144A±<br>| 6.52 | &nbsp;&nbsp; 2-19-2037 | 250000 | &nbsp;&nbsp; 244312 |
| &nbsp;&nbsp;&nbsp; MNR ABS Issuer I LLC‡ | 8.12 | &nbsp;&nbsp; 12-15-2038 | 289230 | &nbsp;&nbsp; 292845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Monroe Capital ABS Funding II Ltd. Series 2023-1A <br> Class A1R144A<br>| 6.77 | &nbsp;&nbsp; 7-22-2034 | 555000 | &nbsp;&nbsp; 554594 |
| &nbsp;&nbsp;&nbsp; NBC Funding LLC Series 2024-1A Class A2144A | 6.75 | &nbsp;&nbsp; 7-30-2054 | 850725 | &nbsp;&nbsp; 862245 |
| &nbsp;&nbsp;&nbsp; Neighborly Issuer LLC Series 2021-1A Class A2144A | 3.58 | &nbsp;&nbsp; 4-30-2051 | 72000 | &nbsp;&nbsp; 66841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Economy Assets - Phase 1 Sponsor LLC <br> Series 2021-1 Class B1144A<br>| 2.41 | &nbsp;&nbsp; 10-20-2061 | 1250000 | &nbsp;&nbsp; 1137828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NextGear Floorplan Master Owner Trust Series 2024-2A <br> Class A2144A<br>| 4.42 | &nbsp;&nbsp; 9-15-2029 | 3600000 | &nbsp;&nbsp; 3592803 |
| &nbsp;&nbsp;&nbsp; NMEF Funding LLC Series 2025-A Class B144A | 5.18 | &nbsp;&nbsp; 7-15-2032 | 4215000 | &nbsp;&nbsp; 4216977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oak Street Investment Grade Net Lease Fund <br> Series 2021-1A Class A3144A<br>| 2.80 | &nbsp;&nbsp; 1-20-2051 | 248333 | &nbsp;&nbsp; 240882 |
| &nbsp;&nbsp;&nbsp; Octane Receivables Trust Series 2023-1A Class A144A | 5.87 | &nbsp;&nbsp; 5-21-2029 | 15605 | &nbsp;&nbsp; 15641 |
| &nbsp;&nbsp;&nbsp; OWN Equipment Fund I LLC Series 2024-2M Class A144A | 5.70 | &nbsp;&nbsp; 12-20-2032 | 2311691 | &nbsp;&nbsp; 2330317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oxford Finance Credit Fund III LP Series 2024-A <br> Class A2144A<br>| 6.68 | &nbsp;&nbsp; 1-14-2032 | 325000 | &nbsp;&nbsp; 328956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pagaya AI Debt Selection Trust Series 2021-HG1 <br> Class A144A<br>| 1.22 | &nbsp;&nbsp; 1-16-2029 | 24168 | &nbsp;&nbsp; 24025 |
| &nbsp;&nbsp;&nbsp; Pagaya AI Debt Trust Series 2023-6 Class B144A | 7.46 | &nbsp;&nbsp; 6-16-2031 | 91647 | &nbsp;&nbsp; 91717 |
| &nbsp;&nbsp;&nbsp; PFS Financing Corp. Series 2024-B Class A144A | 4.95 | &nbsp;&nbsp; 2-15-2029 | 335000 | &nbsp;&nbsp; 337293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RCKT Mortgage Trust Series 2023-CES3 <br> Class A1A144A±±<br>| 7.11 | &nbsp;&nbsp; 11-25-2043 | 2398038 | &nbsp;&nbsp; 2432779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RCKT Mortgage Trust Series 2023-CES3 <br> Class A1B144A±±<br>| 7.46 | &nbsp;&nbsp; 11-25-2043 | 2296712 | &nbsp;&nbsp; 2332246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RCKT Mortgage Trust Series 2024-CES2 <br> Class A1A144A±±<br>| 6.14 | &nbsp;&nbsp; 4-25-2044 | 477661 | &nbsp;&nbsp; 480580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained Vantage Data Centers Issuer LLC Series 2023-1A <br> Class A2A144A<br>| 5.00 | &nbsp;&nbsp; 9-15-2048 | 660000 | &nbsp;&nbsp; 652435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained Vantage Data Centers Issuer LLC Series 2024-1A <br> Class A2144A<br>| 4.99 | &nbsp;&nbsp; 9-15-2049 | 2100000 | &nbsp;&nbsp; 2062799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RR 5 Ltd. Series 2018-5A Class A1R (U.S. SOFR 3 <br> Month+1.50%)144A±<br>| 5.76 | &nbsp;&nbsp; 7-15-2039 | 2500000 | &nbsp;&nbsp; 2508185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Saluda Grade Alternative Mortgage Trust Series 2023-FIG3 <br> Class A144A±±<br>| 7.07 | &nbsp;&nbsp; 8-25-2053 | 1169672 | &nbsp;&nbsp; 1204758 |
| &nbsp;&nbsp;&nbsp; SEB Funding LLC Series 2021-1A Class A2144A | 4.97 | &nbsp;&nbsp; 1-30-2052 | 3017437 | &nbsp;&nbsp; 2954275 |
| &nbsp;&nbsp;&nbsp; SEB Funding LLC Series 2024-1A Class A2144A | 7.39 | &nbsp;&nbsp; 4-30-2054 | 780000 | &nbsp;&nbsp; 793939 |
| &nbsp;&nbsp;&nbsp; Service Experts Issuer LLC Series 2021-1A Class B144A | 3.28 | &nbsp;&nbsp; 2-2-2032 | 330000 | &nbsp;&nbsp; 311078 |
| &nbsp;&nbsp;&nbsp; Service Experts Issuer LLC Series 2024-1A Class A144A | 6.39 | &nbsp;&nbsp; 11-20-2035 | 403464 | &nbsp;&nbsp; 408978 |
| &nbsp;&nbsp;&nbsp; ServiceMaster Funding LLC Series 2020-1 Class A2II144A | 3.34 | &nbsp;&nbsp; 1-30-2051 | 117550 | &nbsp;&nbsp; 100809 |
| &nbsp;&nbsp;&nbsp; SESAC Finance LLC Series 2024-1 Class A2144A | 6.42 | &nbsp;&nbsp; 1-25-2054 | 444375 | &nbsp;&nbsp; 447136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sotheby's ArtFi Master Trust Series 2024-1A <br> Class A1144A<br>| 6.43 | &nbsp;&nbsp; 12-22-2031 | 3500000 | &nbsp;&nbsp; 3527300 |
| &nbsp;&nbsp;&nbsp; Subway Funding LLC Series 2024-3A Class A2I144A | 5.25 | &nbsp;&nbsp; 7-30-2054 | 1990000 | &nbsp;&nbsp; 1955850 |
| &nbsp;&nbsp;&nbsp; Subway Funding LLC Series 2024-3A Class A23144A | 5.91 | &nbsp;&nbsp; 7-30-2054 | 2786000 | &nbsp;&nbsp; 2723735 |
| &nbsp;&nbsp;&nbsp; Switch ABS Issuer LLC Series 2024-2A Class A2144A | 5.44 | &nbsp;&nbsp; 6-25-2054 | 2010000 | &nbsp;&nbsp; 2004124 |

---

See accompanying notes to portfolio of investments

Allspring Managed Account CoreBuilder® Shares - Series CP \| 3

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Taco Bell Funding LLC Series 2021-1A Class A23144A | 2.54<br> %<br>| &nbsp;&nbsp; 8-25-2051 | $505988 | &nbsp;&nbsp; $432094 |
| &nbsp;&nbsp;&nbsp; TierPoint Issuer LLC Series 2025-1A Class A2144A | 6.15 | &nbsp;&nbsp; 4-26-2055 | 4000000 | &nbsp;&nbsp; 4028126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Towd Point Mortgage Trust Series 2024-CES1 <br> Class A2144A±±<br>| 6.44 | &nbsp;&nbsp; 1-25-2064 | 1370000 | &nbsp;&nbsp; 1382138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TRTX Issuer Ltd. Series 2022-FL5 Class A (U.S. SOFR 1 <br> Month+1.65%)144A±<br>| 5.98 | &nbsp;&nbsp; 2-15-2039 | 887192 | &nbsp;&nbsp; 886586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TRTX Issuer Ltd. Series 2025-FL6 Class A (U.S. SOFR 1 <br> Month+1.54%)144A±<br>| 5.86 | &nbsp;&nbsp; 9-18-2042 | 2400000 | &nbsp;&nbsp; 2398499 |
| &nbsp;&nbsp;&nbsp; TSC SPV Funding LLC Series 2024-1A Class A2144A | 6.29 | &nbsp;&nbsp; 8-20-2054 | 706450 | &nbsp;&nbsp; 686927 |
| &nbsp;&nbsp;&nbsp; Uniti Fiber ABS Issuer LLC Series 2025-1A Class A2144A | 5.88 | &nbsp;&nbsp; 4-20-2055 | 5395000 | &nbsp;&nbsp; 5478539 |
| &nbsp;&nbsp;&nbsp; Wendy's Funding LLC Series 2021-1A Class A2II144A | 2.78 | &nbsp;&nbsp; 6-15-2051 | 3122333 | &nbsp;&nbsp; 2728805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westlake Automobile Receivables Trust Series 2024-2A <br> Class A3144A<br>| 5.56 | &nbsp;&nbsp; 2-15-2028 | 615000 | &nbsp;&nbsp; 618413 |
| &nbsp;&nbsp;&nbsp; Wingstop Funding LLC Series 2024-1A Class A2144A | 5.86 | &nbsp;&nbsp; 12-5-2054 | 3000000 | &nbsp;&nbsp; 3034565 |
| &nbsp;&nbsp;&nbsp; Zaxby's Funding LLC Series 2021-1A Class A2144A | 3.24 | &nbsp;&nbsp; 7-30-2051 | 1602563 | &nbsp;&nbsp; 1466306 |
| &nbsp;&nbsp;&nbsp; Zayo Issuer LLC Series 2025-1A Class A2144A | 5.65 | &nbsp;&nbsp; 3-20-2055 | 4700000 | &nbsp;&nbsp; 4722452 |
| &nbsp;&nbsp;&nbsp; Zayo Issuer LLC Series 2025-2A Class A2144A | 5.95 | &nbsp;&nbsp; 6-20-2055 | 1500000 | &nbsp;&nbsp; 1514883 |
| &nbsp;&nbsp;&nbsp; Ziply Fiber Issuer LLC Series 2024-1A Class A2144A | 6.64 | &nbsp;&nbsp; 4-20-2054 | 2160000 | &nbsp;&nbsp; 2213258 |
| &nbsp;&nbsp;&nbsp; Ziply Fiber Issuer LLC Series 2024-1A Class B144A | 7.81 | &nbsp;&nbsp; 4-20-2054 | 679000 | &nbsp;&nbsp; 703568 |
| **Total asset-backed securities (Cost $181,672,078)** |  |  |  | &nbsp;&nbsp; **181861769** |

---

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

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Common stocks: 0.00%** |  |  |
| **Financials: 0.00%** |  |  |
| **Financial services: 0.00%** |  |  |
| &nbsp;&nbsp;&nbsp; Unifin Financiera SAB de CV♦† | 32517 | &nbsp;&nbsp; **0** |
| **Total common stocks (Cost $0)** |  | &nbsp;&nbsp; **0** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>| Principal |  |
| **Corporate bonds and notes: 16.60%** |  |  |  |  |
| **Basic materials: 0.52%** |  |  |  |  |
| **Chemicals: 0.33%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Celanese U.S. Holdings LLC | 6.50 | &nbsp;&nbsp; 4-15-2030 | $1500000 | &nbsp;&nbsp; 1511854 |
| &nbsp;&nbsp;&nbsp; Celanese U.S. Holdings LLC | 6.63 | &nbsp;&nbsp; 7-15-2032 | 125000 | &nbsp;&nbsp; 127926 |
| &nbsp;&nbsp;&nbsp; LYB International Finance III LLC | 6.15 | &nbsp;&nbsp; 5-15-2035 | 1010000 | &nbsp;&nbsp; 1025688 |
| &nbsp;&nbsp;&nbsp; Westlake Corp. | 1.63 | &nbsp;&nbsp; 7-17-2029 | 100000 | &nbsp;&nbsp; 106788 |
|  |  |  |  | &nbsp;&nbsp; **2772256** |
| **Iron/steel: 0.16%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc.144A | 4.88 | &nbsp;&nbsp; 3-1-2031 | 300000 | &nbsp;&nbsp; 245132 |
| &nbsp;&nbsp;&nbsp; Nucor Corp. | 5.10 | &nbsp;&nbsp; 6-1-2035 | 1100000 | &nbsp;&nbsp; 1079675 |
|  |  |  |  | &nbsp;&nbsp; **1324807** |
| **Mining: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Glencore Funding LLC144A | 3.38 | &nbsp;&nbsp; 9-23-2051 | 80000 | &nbsp;&nbsp; 51125 |
| &nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp.144A | 4.63 | &nbsp;&nbsp; 3-1-2028 | 185000 | &nbsp;&nbsp; 179797 |
|  |  |  |  | &nbsp;&nbsp; **230922** |

---

See accompanying notes to portfolio of investments

4 \| Allspring Managed Account CoreBuilder® Shares - Series CP

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Communications: 1.48%** |  |  |  |  |
| **Advertising: 0.08%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Lamar Media Corp. | 4.00<br> %<br>| &nbsp;&nbsp; 2-15-2030 | $245000 | &nbsp;&nbsp; $230901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Outfront Media Capital LLC/Outfront Media Capital <br> Corp.144A<br>| 4.63 | &nbsp;&nbsp; 3-15-2030 | 310000 | &nbsp;&nbsp; 290828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Outfront Media Capital LLC/Outfront Media Capital <br> Corp.144A<br>| 7.38 | &nbsp;&nbsp; 2-15-2031 | 170000 | &nbsp;&nbsp; 179529 |
|  |  |  |  | &nbsp;&nbsp; **701258** |
| **Internet: 0.22%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Match Group Holdings II LLC144A | 4.13 | &nbsp;&nbsp; 8-1-2030 | 520000 | &nbsp;&nbsp; 479914 |
| &nbsp;&nbsp;&nbsp; MercadoLibre, Inc. | 3.13 | &nbsp;&nbsp; 1-14-2031 | 1550000 | &nbsp;&nbsp; 1379585 |
|  |  |  |  | &nbsp;&nbsp; **1859499** |
| **Media: 1.09%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp.144A | 4.25 | &nbsp;&nbsp; 1-15-2034 | 3290000 | &nbsp;&nbsp; 2840037 |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp.144A | 4.50 | &nbsp;&nbsp; 8-15-2030 | 750000 | &nbsp;&nbsp; 703238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 3.85 | &nbsp;&nbsp; 4-1-2061 | 60000 | &nbsp;&nbsp; 36980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 3.90 | &nbsp;&nbsp; 6-1-2052 | 1410000 | &nbsp;&nbsp; 930694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 4.40 | &nbsp;&nbsp; 12-1-2061 | 1450000 | &nbsp;&nbsp; 976801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 6.10 | &nbsp;&nbsp; 6-1-2029 | 590000 | &nbsp;&nbsp; 614191 |
| &nbsp;&nbsp;&nbsp; Comcast Corp. | 5.30 | &nbsp;&nbsp; 5-15-2035 | 610000 | &nbsp;&nbsp; 611255 |
| &nbsp;&nbsp;&nbsp; Comcast Corp. | 6.05 | &nbsp;&nbsp; 5-15-2055 | 775000 | &nbsp;&nbsp; 773433 |
| &nbsp;&nbsp;&nbsp; News Corp.144A | 3.88 | &nbsp;&nbsp; 5-15-2029 | 650000 | &nbsp;&nbsp; 616459 |
| &nbsp;&nbsp;&nbsp; Sirius XM Radio LLC144A | 4.00 | &nbsp;&nbsp; 7-15-2028 | 185000 | &nbsp;&nbsp; 175553 |
| &nbsp;&nbsp;&nbsp; Time Warner Cable LLC | 5.50 | &nbsp;&nbsp; 9-1-2041 | 935000 | &nbsp;&nbsp; 824038 |
|  |  |  |  | &nbsp;&nbsp; **9102679** |
| **Telecommunications: 0.09%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | 3.55 | &nbsp;&nbsp; 9-15-2055 | 1080000 | &nbsp;&nbsp; **713969** |
| **Consumer, cyclical: 2.74%** |  |  |  |  |
| **Airlines: 0.76%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Airlines Pass-Through Trust Series 2015-1 <br> Class A<br>| 3.38 | &nbsp;&nbsp; 5-1-2027 | 1556005 | &nbsp;&nbsp; 1510973 |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc./AAdvantage Loyalty IP Ltd.144A | 5.50 | &nbsp;&nbsp; 4-20-2026 | 33333 | &nbsp;&nbsp; 33276 |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc./AAdvantage Loyalty IP Ltd.144A | 5.75 | &nbsp;&nbsp; 4-20-2029 | 505000 | &nbsp;&nbsp; 495899 |
| &nbsp;&nbsp;&nbsp; Delta Air Lines, Inc./SkyMiles IP Ltd.144A | 4.75 | &nbsp;&nbsp; 10-20-2028 | 2080000 | &nbsp;&nbsp; 2071944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mileage Plus Holdings LLC/Mileage Plus Intellectual <br> Property Assets Ltd.144A<br>| 6.50 | &nbsp;&nbsp; 6-20-2027 | 1606500 | &nbsp;&nbsp; 1610187 |
| &nbsp;&nbsp;&nbsp; United Airlines Pass-Through Trust Series 2020-1 Class B | 4.88 | &nbsp;&nbsp; 1-15-2026 | 51518 | &nbsp;&nbsp; 51267 |
| &nbsp;&nbsp;&nbsp; United Airlines Pass-Through Trust Series 2023-1 Class A | 5.80 | &nbsp;&nbsp; 1-15-2036 | 95531 | &nbsp;&nbsp; 95625 |
| &nbsp;&nbsp;&nbsp; United Airlines Pass-Through Trust Series 2024-1 Class A | 5.88 | &nbsp;&nbsp; 2-15-2037 | 495649 | &nbsp;&nbsp; 484943 |
|  |  |  |  | &nbsp;&nbsp; **6354114** |

---

See accompanying notes to portfolio of investments

Allspring Managed Account CoreBuilder® Shares - Series CP \| 5

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Auto manufacturers: 0.08%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Ford Motor Co. | 3.25<br> %<br>| &nbsp;&nbsp; 2-12-2032 | $55000 | &nbsp;&nbsp; $45386 |
| &nbsp;&nbsp;&nbsp; Ford Motor Co. | 6.10 | &nbsp;&nbsp; 8-19-2032 | 430000 | &nbsp;&nbsp; 420003 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Credit Corp. | 3.85 | &nbsp;&nbsp; 7-24-2030 | 200000 | &nbsp;&nbsp; 236650 |
|  |  |  |  | &nbsp;&nbsp; **702039** |
| **Auto parts & equipment: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd.144A | 7.00 | &nbsp;&nbsp; 4-15-2028 | 185000 | &nbsp;&nbsp; **189076** |
| **Entertainment: 0.48%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cinemark USA, Inc.144A | 5.25 | &nbsp;&nbsp; 7-15-2028 | 510000 | &nbsp;&nbsp; 503133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp./Six Flags Theme Parks, <br> Inc./Canada's Wonderland Co.144A<br>| 6.63 | &nbsp;&nbsp; 5-1-2032 | 170000 | &nbsp;&nbsp; 173316 |
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc. | 4.28 | &nbsp;&nbsp; 3-15-2032 | 2870000 | &nbsp;&nbsp; 2435394 |
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc. | 5.14 | &nbsp;&nbsp; 3-15-2052 | 1375000 | &nbsp;&nbsp; 891355 |
|  |  |  |  | &nbsp;&nbsp; **4003198** |
| **Home builders: 0.05%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; LGI Homes, Inc.144A | 8.75 | &nbsp;&nbsp; 12-15-2028 | 130000 | &nbsp;&nbsp; 133789 |
| &nbsp;&nbsp;&nbsp; Taylor Morrison Communities, Inc.144A | 5.13 | &nbsp;&nbsp; 8-1-2030 | 290000 | &nbsp;&nbsp; 282754 |
|  |  |  |  | &nbsp;&nbsp; **416543** |
| **Housewares: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Newell Brands, Inc. | 6.38 | &nbsp;&nbsp; 5-15-2030 | 229000 | &nbsp;&nbsp; **215133** |
| **Leisure time: 0.37%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd.144A | 6.75 | &nbsp;&nbsp; 2-1-2032 | 305000 | &nbsp;&nbsp; 305057 |
| &nbsp;&nbsp;&nbsp; Sabre Global, Inc.144A | 8.63 | &nbsp;&nbsp; 6-1-2027 | 802000 | &nbsp;&nbsp; 824676 |
| &nbsp;&nbsp;&nbsp; Sabre Global, Inc.144A | 10.75 | &nbsp;&nbsp; 11-15-2029 | 1912000 | &nbsp;&nbsp; 1950240 |
|  |  |  |  | &nbsp;&nbsp; **3079973** |
| **Lodging: 0.42%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | 5.63 | &nbsp;&nbsp; 6-15-2028 | 655000 | &nbsp;&nbsp; 656482 |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | 6.00 | &nbsp;&nbsp; 6-14-2030 | 1625000 | &nbsp;&nbsp; 1642608 |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | 6.20 | &nbsp;&nbsp; 8-15-2034 | 1215000 | &nbsp;&nbsp; 1204946 |
|  |  |  |  | &nbsp;&nbsp; **3504036** |
| **Retail: 0.48%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; FirstCash, Inc.144A | 6.88 | &nbsp;&nbsp; 3-1-2032 | 170000 | &nbsp;&nbsp; 174251 |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc.144A | 6.38 | &nbsp;&nbsp; 1-15-2030 | 440000 | &nbsp;&nbsp; 448092 |
| &nbsp;&nbsp;&nbsp; Kohl's Corp. | 5.13 | &nbsp;&nbsp; 5-1-2031 | 745000 | &nbsp;&nbsp; 473874 |
| &nbsp;&nbsp;&nbsp; Macy's Retail Holdings LLC144A | 5.88 | &nbsp;&nbsp; 3-15-2030 | 1130000 | &nbsp;&nbsp; 1078447 |
| &nbsp;&nbsp;&nbsp; Macy's Retail Holdings LLC144A | 6.13 | &nbsp;&nbsp; 3-15-2032 | 265000 | &nbsp;&nbsp; 245483 |
| &nbsp;&nbsp;&nbsp; PetSmart, Inc./PetSmart Finance Corp.144A | 4.75 | &nbsp;&nbsp; 2-15-2028 | 710000 | &nbsp;&nbsp; 685201 |
| &nbsp;&nbsp;&nbsp; Sally Holdings LLC/Sally Capital, Inc. | 6.75 | &nbsp;&nbsp; 3-1-2032 | 150000 | &nbsp;&nbsp; 152396 |
| &nbsp;&nbsp;&nbsp; Sonic Automotive, Inc.144A | 4.63 | &nbsp;&nbsp; 11-15-2029 | 825000 | &nbsp;&nbsp; 788069 |
|  |  |  |  | &nbsp;&nbsp; **4045813** |

---

See accompanying notes to portfolio of investments

6 \| Allspring Managed Account CoreBuilder® Shares - Series CP

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Toys/games/hobbies: 0.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Hasbro, Inc. | 6.05<br> %<br>| &nbsp;&nbsp; 5-14-2034 | $460000 | &nbsp;&nbsp; $466152 |
| &nbsp;&nbsp;&nbsp; Mattel, Inc.144A | 5.88 | &nbsp;&nbsp; 12-15-2027 | 40000 | &nbsp;&nbsp; 40140 |
|  |  |  |  | &nbsp;&nbsp; **506292** |
| **Consumer, non-cyclical: 2.33%** |  |  |  |  |
| **Agriculture: 0.30%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; BAT Capital Corp. | 4.76 | &nbsp;&nbsp; 9-6-2049 | 25000 | &nbsp;&nbsp; 20071 |
| &nbsp;&nbsp;&nbsp; BAT Capital Corp. | 5.63 | &nbsp;&nbsp; 8-15-2035 | 1675000 | &nbsp;&nbsp; 1678258 |
| &nbsp;&nbsp;&nbsp; BAT Capital Corp. | 6.25 | &nbsp;&nbsp; 8-15-2055 | 850000 | &nbsp;&nbsp; 837759 |
|  |  |  |  | &nbsp;&nbsp; **2536088** |
| **Biotechnology: 0.14%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Biogen, Inc. | 5.75 | &nbsp;&nbsp; 5-15-2035 | 400000 | &nbsp;&nbsp; 402693 |
| &nbsp;&nbsp;&nbsp; Biogen, Inc. | 6.45 | &nbsp;&nbsp; 5-15-2055 | 775000 | &nbsp;&nbsp; 775260 |
|  |  |  |  | &nbsp;&nbsp; **1177953** |
| **Commercial services: 0.57%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Block, Inc. | 3.50 | &nbsp;&nbsp; 6-1-2031 | 222000 | &nbsp;&nbsp; 200595 |
| &nbsp;&nbsp;&nbsp; CoreCivic, Inc. | 8.25 | &nbsp;&nbsp; 4-15-2029 | 790000 | &nbsp;&nbsp; 834978 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. | 8.63 | &nbsp;&nbsp; 4-15-2029 | 425000 | &nbsp;&nbsp; 448620 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. | 10.25 | &nbsp;&nbsp; 4-15-2031 | 500000 | &nbsp;&nbsp; 548073 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. | 4.88 | &nbsp;&nbsp; 3-17-2031 | 1000000 | &nbsp;&nbsp; 1195198 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. | 5.95 | &nbsp;&nbsp; 8-15-2052 | 40000 | &nbsp;&nbsp; 37169 |
| &nbsp;&nbsp;&nbsp; Service Corp. International | 5.75 | &nbsp;&nbsp; 10-15-2032 | 243000 | &nbsp;&nbsp; 241478 |
| &nbsp;&nbsp;&nbsp; United Rentals North America, Inc. | 3.88 | &nbsp;&nbsp; 2-15-2031 | 120000 | &nbsp;&nbsp; 110723 |
| &nbsp;&nbsp;&nbsp; Upbound Group, Inc.144A | 6.38 | &nbsp;&nbsp; 2-15-2029 | 1205000 | &nbsp;&nbsp; 1152973 |
|  |  |  |  | &nbsp;&nbsp; **4769807** |
| **Food: 0.58%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Mars, Inc.144A | 5.20 | &nbsp;&nbsp; 3-1-2035 | 2875000 | &nbsp;&nbsp; 2864216 |
| &nbsp;&nbsp;&nbsp; Mars, Inc.144A | 5.70 | &nbsp;&nbsp; 5-1-2055 | 1975000 | &nbsp;&nbsp; 1915947 |
| &nbsp;&nbsp;&nbsp; U.S. Foods, Inc.144A | 5.75 | &nbsp;&nbsp; 4-15-2033 | 135000 | &nbsp;&nbsp; 132624 |
|  |  |  |  | &nbsp;&nbsp; **4912787** |
| **Healthcare-products: 0.08%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Danaher Corp. | 2.50 | &nbsp;&nbsp; 3-30-2030 | 600000 | &nbsp;&nbsp; **672132** |
| **Healthcare-services: 0.33%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; DaVita, Inc.144A | 6.88 | &nbsp;&nbsp; 9-1-2032 | 980000 | &nbsp;&nbsp; 995525 |
| &nbsp;&nbsp;&nbsp; HCA, Inc. | 5.95 | &nbsp;&nbsp; 9-15-2054 | 690000 | &nbsp;&nbsp; 650773 |
| &nbsp;&nbsp;&nbsp; Highmark, Inc.144A | 2.55 | &nbsp;&nbsp; 5-10-2031 | 905000 | &nbsp;&nbsp; 767467 |
| &nbsp;&nbsp;&nbsp; Pediatrix Medical Group, Inc.144A | 5.38 | &nbsp;&nbsp; 2-15-2030 | 170000 | &nbsp;&nbsp; 164567 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. | 6.75 | &nbsp;&nbsp; 5-15-2031 | 190000 | &nbsp;&nbsp; 195710 |
|  |  |  |  | &nbsp;&nbsp; **2774042** |
| **Household products/wares: 0.05%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co. | 4.13 | &nbsp;&nbsp; 10-15-2030 | 415000 | &nbsp;&nbsp; **383783** |

---

See accompanying notes to portfolio of investments

Allspring Managed Account CoreBuilder® Shares - Series CP \| 7

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Pharmaceuticals: 0.28%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. | 5.60<br> %<br>| &nbsp;&nbsp; 3-15-2055 | $1150000 | &nbsp;&nbsp; $1121297 |
| &nbsp;&nbsp;&nbsp; Viatris, Inc. | 3.85 | &nbsp;&nbsp; 6-22-2040 | 1620000 | &nbsp;&nbsp; 1151572 |
| &nbsp;&nbsp;&nbsp; Viatris, Inc. | 4.00 | &nbsp;&nbsp; 6-22-2050 | 65000 | &nbsp;&nbsp; 41592 |
|  |  |  |  | &nbsp;&nbsp; **2314461** |
| **Energy: 1.43%** |  |  |  |  |
| **Energy-alternate sources: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TerraForm Power Operating LLC144A | 4.75 | &nbsp;&nbsp; 1-15-2030 | 195000 | &nbsp;&nbsp; **183810** |
| **Oil & gas: 0.56%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; APA Corp.144A | 5.35 | &nbsp;&nbsp; 7-1-2049 | 60000 | &nbsp;&nbsp; 46003 |
| &nbsp;&nbsp;&nbsp; BP Capital Markets America, Inc. | 5.23 | &nbsp;&nbsp; 11-17-2034 | 4490000 | &nbsp;&nbsp; 4470684 |
| &nbsp;&nbsp;&nbsp; Coterra Energy, Inc. | 5.90 | &nbsp;&nbsp; 2-15-2055 | 45000 | &nbsp;&nbsp; 40565 |
| &nbsp;&nbsp;&nbsp; Expand Energy Corp. | 5.38 | &nbsp;&nbsp; 3-15-2030 | 70000 | &nbsp;&nbsp; 69620 |
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. | 6.05 | &nbsp;&nbsp; 10-1-2054 | 45000 | &nbsp;&nbsp; 39114 |
|  |  |  |  | &nbsp;&nbsp; **4665986** |
| **Oil & gas services: 0.10%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Schlumberger Holdings Corp.144A | 4.85 | &nbsp;&nbsp; 5-15-2033 | 905000 | &nbsp;&nbsp; **874191** |
| **Pipelines: 0.75%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP (5 Year Treasury Constant <br> Maturity+4.02%)±<br>| 8.00 | &nbsp;&nbsp; 5-15-2054 | 740000 | &nbsp;&nbsp; 775660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP Series H (5 Year Treasury Constant <br> Maturity+5.69%)ʊ±<br>| 6.50 | &nbsp;&nbsp; 11-15-2026 | 115000 | &nbsp;&nbsp; 114710 |
| &nbsp;&nbsp;&nbsp; Harvest Midstream I LP144A | 7.50 | &nbsp;&nbsp; 5-15-2032 | 110000 | &nbsp;&nbsp; 113017 |
| &nbsp;&nbsp;&nbsp; Hess Midstream Operations LP144A | 5.50 | &nbsp;&nbsp; 10-15-2030 | 155000 | &nbsp;&nbsp; 153250 |
| &nbsp;&nbsp;&nbsp; Kinetik Holdings LP144A | 5.88 | &nbsp;&nbsp; 6-15-2030 | 270000 | &nbsp;&nbsp; 268396 |
| &nbsp;&nbsp;&nbsp; Kinetik Holdings LP144A | 6.63 | &nbsp;&nbsp; 12-15-2028 | 1000000 | &nbsp;&nbsp; 1019853 |
| &nbsp;&nbsp;&nbsp; Prairie Acquiror LP144A | 9.00 | &nbsp;&nbsp; 8-1-2029 | 650000 | &nbsp;&nbsp; 660781 |
| &nbsp;&nbsp;&nbsp; South Bow USA Infrastructure Holdings LLC144A | 5.03 | &nbsp;&nbsp; 10-1-2029 | 835000 | &nbsp;&nbsp; 827979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance <br> Corp.144A<br>| 6.00 | &nbsp;&nbsp; 12-31-2030 | 1595000 | &nbsp;&nbsp; 1528307 |
| &nbsp;&nbsp;&nbsp; Venture Global Calcasieu Pass LLC144A | 6.25 | &nbsp;&nbsp; 1-15-2030 | 100000 | &nbsp;&nbsp; 101377 |
| &nbsp;&nbsp;&nbsp; Venture Global LNG, Inc.144A | 9.50 | &nbsp;&nbsp; 2-1-2029 | 375000 | &nbsp;&nbsp; 400930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global LNG, Inc. (5 Year Treasury Constant <br> Maturity+5.44%)144Aʊ±<br>| 9.00 | &nbsp;&nbsp; 9-30-2029 | 360000 | &nbsp;&nbsp; 339541 |
|  |  |  |  | &nbsp;&nbsp; **6303801** |
| **Financial: 3.59%** |  |  |  |  |
| **Banks: 1.27%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. Series OO (5 Year Treasury <br> Constant Maturity+2.68%)ʊ±<br>| 6.63 | &nbsp;&nbsp; 5-1-2030 | 745000 | &nbsp;&nbsp; 756807 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.36%)± | 2.48 | &nbsp;&nbsp; 9-16-2036 | 5000 | &nbsp;&nbsp; 4178 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.71%)± | 5.52 | &nbsp;&nbsp; 11-19-2055 | 1550000 | &nbsp;&nbsp; 1476857 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.76%)± | 5.66 | &nbsp;&nbsp; 4-17-2036 | 2000000 | &nbsp;&nbsp; 2032667 |
| &nbsp;&nbsp;&nbsp; Santander Holdings USA, Inc. (U.S. SOFR+1.94%)± | 5.35 | &nbsp;&nbsp; 9-6-2030 | 120000 | &nbsp;&nbsp; 120643 |
| &nbsp;&nbsp;&nbsp; U.S. Bancorp (U.S. SOFR+1.60%)± | 4.84 | &nbsp;&nbsp; 2-1-2034 | 3500000 | &nbsp;&nbsp; 3394505 |

---

See accompanying notes to portfolio of investments

8 \| Allspring Managed Account CoreBuilder® Shares - Series CP

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Banks**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Bancorp (U.S. SOFR+2.26%)± | 5.84<br> %<br>| &nbsp;&nbsp; 6-12-2034 | $1220000 | &nbsp;&nbsp; $1259724 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. (3 Month EURIBOR+1.85%)± | 1.74 | &nbsp;&nbsp; 5-4-2030 | 1500000 | &nbsp;&nbsp; 1624536 |
|  |  |  |  | &nbsp;&nbsp; **10669917** |
| **Diversified financial services: 0.41%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aircastle Ltd.144A | 5.95 | &nbsp;&nbsp; 2-15-2029 | 40000 | &nbsp;&nbsp; 41037 |
| &nbsp;&nbsp;&nbsp; Aircastle Ltd./Aircastle Ireland DAC144A | 5.25 | &nbsp;&nbsp; 3-15-2030 | 1690000 | &nbsp;&nbsp; 1682305 |
| &nbsp;&nbsp;&nbsp; Computershare U.S., Inc. | 1.13 | &nbsp;&nbsp; 10-7-2031 | 700000 | &nbsp;&nbsp; 687130 |
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance, Inc.144A | 7.13 | &nbsp;&nbsp; 4-30-2031 | 335000 | &nbsp;&nbsp; 349962 |
| &nbsp;&nbsp;&nbsp; PRA Group, Inc.144A | 5.00 | &nbsp;&nbsp; 10-1-2029 | 510000 | &nbsp;&nbsp; 457498 |
| &nbsp;&nbsp;&nbsp; United Wholesale Mortgage LLC144A | 5.50 | &nbsp;&nbsp; 4-15-2029 | 215000 | &nbsp;&nbsp; 205820 |
|  |  |  |  | &nbsp;&nbsp; **3423752** |
| **Insurance: 1.05%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 200 Park Funding Trust144A | 5.74 | &nbsp;&nbsp; 2-15-2055 | 720000 | &nbsp;&nbsp; 694324 |
| &nbsp;&nbsp;&nbsp; AssuredPartners, Inc.144A | 5.63 | &nbsp;&nbsp; 1-15-2029 | 285000 | &nbsp;&nbsp; 284806 |
| &nbsp;&nbsp;&nbsp; Athene Global Funding | 0.37 | &nbsp;&nbsp; 9-10-2026 | 100000 | &nbsp;&nbsp; 110190 |
| &nbsp;&nbsp;&nbsp; Essent Group Ltd. | 6.25 | &nbsp;&nbsp; 7-1-2029 | 40000 | &nbsp;&nbsp; 41233 |
| &nbsp;&nbsp;&nbsp; Guardian Life Insurance Co. of America144A | 4.85 | &nbsp;&nbsp; 1-24-2077 | 210000 | &nbsp;&nbsp; 169620 |
| &nbsp;&nbsp;&nbsp; Jackson Financial, Inc. | 4.00 | &nbsp;&nbsp; 11-23-2051 | 1500000 | &nbsp;&nbsp; 990269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MetLife, Inc. Series G (5 Year Treasury Constant <br> Maturity+3.58%)ʊ±<br>| 3.85 | &nbsp;&nbsp; 9-15-2025 | 750000 | &nbsp;&nbsp; 743294 |
| &nbsp;&nbsp;&nbsp; New York Life Insurance Co.144A | 5.88 | &nbsp;&nbsp; 5-15-2033 | 1150000 | &nbsp;&nbsp; 1193297 |
| &nbsp;&nbsp;&nbsp; Northwestern Mutual Life Insurance Co.144A | 6.17 | &nbsp;&nbsp; 5-29-2055 | 1200000 | &nbsp;&nbsp; 1234287 |
| &nbsp;&nbsp;&nbsp; Omnis Funding Trust144A%% | 6.72 | &nbsp;&nbsp; 5-15-2055 | 1235000 | &nbsp;&nbsp; 1242619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PartnerRe Finance B LLC (5 Year Treasury Constant <br> Maturity+3.82%)±<br>| 4.50 | &nbsp;&nbsp; 10-1-2050 | 15000 | &nbsp;&nbsp; 13868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prudential Financial, Inc. (5 Year Treasury Constant <br> Maturity+3.16%)±<br>| 5.13 | &nbsp;&nbsp; 3-1-2052 | 30000 | &nbsp;&nbsp; 28824 |
| &nbsp;&nbsp;&nbsp; RGA Global Funding144A | 5.05 | &nbsp;&nbsp; 12-6-2031 | 1525000 | &nbsp;&nbsp; 1506202 |
| &nbsp;&nbsp;&nbsp; Transatlantic Holdings, Inc. | 8.00 | &nbsp;&nbsp; 11-30-2039 | 443000 | &nbsp;&nbsp; 536414 |
|  |  |  |  | &nbsp;&nbsp; **8789247** |
| **Investment Companies: 0.24%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Ares Capital Corp. BDC%% | 5.50 | &nbsp;&nbsp; 9-1-2030 | 2000000 | &nbsp;&nbsp; **1984410** |
| **REITs: 0.62%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc.144A | 7.75 | &nbsp;&nbsp; 12-1-2029 | 400000 | &nbsp;&nbsp; 421120 |
| &nbsp;&nbsp;&nbsp; Brandywine Operating Partnership LP | 8.30 | &nbsp;&nbsp; 3-15-2028 | 1555000 | &nbsp;&nbsp; 1630268 |
| &nbsp;&nbsp;&nbsp; Brandywine Operating Partnership LP | 8.88 | &nbsp;&nbsp; 4-12-2029 | 185000 | &nbsp;&nbsp; 197002 |
| &nbsp;&nbsp;&nbsp; EPR Properties | 3.75 | &nbsp;&nbsp; 8-15-2029 | 45000 | &nbsp;&nbsp; 42418 |
| &nbsp;&nbsp;&nbsp; Essential Properties LP | 2.95 | &nbsp;&nbsp; 7-15-2031 | 62000 | &nbsp;&nbsp; 54238 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc.144A | 4.50 | &nbsp;&nbsp; 2-15-2031 | 700000 | &nbsp;&nbsp; 655900 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc.144A | 5.25 | &nbsp;&nbsp; 3-15-2028 | 190000 | &nbsp;&nbsp; 187916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings LLLP/Ladder Capital <br> Finance Corp.144A<br>| 7.00 | &nbsp;&nbsp; 7-15-2031 | 130000 | &nbsp;&nbsp; 134817 |
| &nbsp;&nbsp;&nbsp; Omega Healthcare Investors, Inc. | 3.63 | &nbsp;&nbsp; 10-1-2029 | 25000 | &nbsp;&nbsp; 23522 |

---

See accompanying notes to portfolio of investments

Allspring Managed Account CoreBuilder® Shares - Series CP \| 9

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **REITs**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Realty Income Corp. | 5.13<br> %<br>| &nbsp;&nbsp; 7-6-2034 | $1000000 | &nbsp;&nbsp; $1239018 |
| &nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc.144A | 6.50 | &nbsp;&nbsp; 7-1-2030 | 640000 | &nbsp;&nbsp; 649084 |
|  |  |  |  | &nbsp;&nbsp; **5235303** |
| **Industrial: 1.69%** |  |  |  |  |
| **Aerospace/defense: 0.45%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Boeing Co. | 5.81 | &nbsp;&nbsp; 5-1-2050 | 60000 | &nbsp;&nbsp; 56186 |
| &nbsp;&nbsp;&nbsp; Boeing Co. | 6.86 | &nbsp;&nbsp; 5-1-2054 | 1635000 | &nbsp;&nbsp; 1743742 |
| &nbsp;&nbsp;&nbsp; Spirit AeroSystems, Inc.144A | 9.75 | &nbsp;&nbsp; 11-15-2030 | 1590000 | &nbsp;&nbsp; 1755781 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc.144A | 6.63 | &nbsp;&nbsp; 3-1-2032 | 220000 | &nbsp;&nbsp; 224731 |
|  |  |  |  | &nbsp;&nbsp; **3780440** |
| **Building materials: 0.29%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc.144A | 6.38 | &nbsp;&nbsp; 3-1-2034 | 505000 | &nbsp;&nbsp; 503147 |
| &nbsp;&nbsp;&nbsp; Camelot Return Merger Sub, Inc.144A | 8.75 | &nbsp;&nbsp; 8-1-2028 | 510000 | &nbsp;&nbsp; 451350 |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP/Emerald Co-Issuer, Inc.144A | 6.63 | &nbsp;&nbsp; 12-15-2030 | 200000 | &nbsp;&nbsp; 202023 |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc.144A | 6.38 | &nbsp;&nbsp; 3-1-2032 | 1125000 | &nbsp;&nbsp; 1143177 |
| &nbsp;&nbsp;&nbsp; Standard Industries, Inc.144A | 5.00 | &nbsp;&nbsp; 2-15-2027 | 155000 | &nbsp;&nbsp; 153944 |
|  |  |  |  | &nbsp;&nbsp; **2453641** |
| **Electrical components & equipment: 0.04%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; WESCO Distribution, Inc.144A | 6.63 | &nbsp;&nbsp; 3-15-2032 | 345000 | &nbsp;&nbsp; **353187** |
| **Electronics: 0.05%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Sensata Technologies, Inc.144A | 6.63 | &nbsp;&nbsp; 7-15-2032 | 410000 | &nbsp;&nbsp; **413668** |
| **Environmental control: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Clean Harbors, Inc.144A | 6.38 | &nbsp;&nbsp; 2-1-2031 | 130000 | &nbsp;&nbsp; **132289** |
| **Machinery-diversified: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Chart Industries, Inc.144A | 7.50 | &nbsp;&nbsp; 1-1-2030 | 175000 | &nbsp;&nbsp; **182665** |
| **Packaging & containers: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC/Ardagh Metal <br> Packaging Finance PLC144A<br>| 6.00 | &nbsp;&nbsp; 6-15-2027 | 810000 | &nbsp;&nbsp; 811995 |
| &nbsp;&nbsp;&nbsp; Ball Corp. | 2.88 | &nbsp;&nbsp; 8-15-2030 | 175000 | &nbsp;&nbsp; 155103 |
|  |  |  |  | &nbsp;&nbsp; **967098** |
| **Transportation: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Genesee & Wyoming, Inc.144A | 6.25 | &nbsp;&nbsp; 4-15-2032 | 195000 | &nbsp;&nbsp; 198042 |
| &nbsp;&nbsp;&nbsp; United Parcel Service, Inc. | 5.95 | &nbsp;&nbsp; 5-14-2055 | 410000 | &nbsp;&nbsp; 408028 |
| &nbsp;&nbsp;&nbsp; United Parcel Service, Inc. | 6.05 | &nbsp;&nbsp; 5-14-2065 | 410000 | &nbsp;&nbsp; 407447 |
|  |  |  |  | &nbsp;&nbsp; **1013517** |
| **Trucking & leasing: 0.58%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fortress Transportation & Infrastructure <br> Investors LLC144A<br>| 7.00 | &nbsp;&nbsp; 6-15-2032 | 4165000 | &nbsp;&nbsp; 4257688 |
| &nbsp;&nbsp;&nbsp; GATX Corp. | 6.05 | &nbsp;&nbsp; 6-5-2054 | 635000 | &nbsp;&nbsp; 618109 |
|  |  |  |  | &nbsp;&nbsp; **4875797** |

---

See accompanying notes to portfolio of investments

10 \| Allspring Managed Account CoreBuilder® Shares - Series CP

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Technology: 0.95%** |  |  |  |  |
| **Computers: 0.16%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Booz Allen Hamilton, Inc. | 5.95<br> %<br>| &nbsp;&nbsp; 4-15-2035 | $75000 | &nbsp;&nbsp; $74215 |
| &nbsp;&nbsp;&nbsp; Insight Enterprises, Inc.144A | 6.63 | &nbsp;&nbsp; 5-15-2032 | 140000 | &nbsp;&nbsp; 142651 |
| &nbsp;&nbsp;&nbsp; NetApp, Inc. | 5.70 | &nbsp;&nbsp; 3-17-2035 | 905000 | &nbsp;&nbsp; 909553 |
| &nbsp;&nbsp;&nbsp; Seagate HDD Cayman | 9.63 | &nbsp;&nbsp; 12-1-2032 | 168000 | &nbsp;&nbsp; 190684 |
|  |  |  |  | &nbsp;&nbsp; **1317103** |
| **Semiconductors: 0.49%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Entegris, Inc.144A | 5.95 | &nbsp;&nbsp; 6-15-2030 | 245000 | &nbsp;&nbsp; 245135 |
| &nbsp;&nbsp;&nbsp; Foundry JV Holdco LLC144A | 6.20 | &nbsp;&nbsp; 1-25-2037 | 1485000 | &nbsp;&nbsp; 1517665 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 6.05 | &nbsp;&nbsp; 11-1-2035 | 2280000 | &nbsp;&nbsp; 2324947 |
|  |  |  |  | &nbsp;&nbsp; **4087747** |
| **Software: 0.30%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group, Inc.144A | 6.50 | &nbsp;&nbsp; 2-15-2030 | 335000 | &nbsp;&nbsp; 322780 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc.144A | 8.25 | &nbsp;&nbsp; 6-30-2032 | 1590000 | &nbsp;&nbsp; 1671841 |
| &nbsp;&nbsp;&nbsp; Rocket Software, Inc.144A | 9.00 | &nbsp;&nbsp; 11-28-2028 | 550000 | &nbsp;&nbsp; 567461 |
|  |  |  |  | &nbsp;&nbsp; **2562082** |
| **Utilities: 1.87%** |  |  |  |  |
| **Electric: 1.87%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AES Corp. (5 Year Treasury Constant Maturity+3.20%)± | 7.60 | &nbsp;&nbsp; 1-15-2055 | 190000 | &nbsp;&nbsp; 191503 |
| &nbsp;&nbsp;&nbsp; Baltimore Gas & Electric Co. | 5.45 | &nbsp;&nbsp; 6-1-2035 | 800000 | &nbsp;&nbsp; 805362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc. (5 Year Treasury Constant <br> Maturity+2.21%)±<br>| 6.63 | &nbsp;&nbsp; 5-15-2055 | 70000 | &nbsp;&nbsp; 70082 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. | 3.10 | &nbsp;&nbsp; 6-15-2028 | 600000 | &nbsp;&nbsp; 685959 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. | 3.85 | &nbsp;&nbsp; 6-15-2034 | 1300000 | &nbsp;&nbsp; 1472560 |
| &nbsp;&nbsp;&nbsp; Duke Energy Indiana LLC | 5.40 | &nbsp;&nbsp; 4-1-2053 | 400000 | &nbsp;&nbsp; 369069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Edison International (5 Year Treasury Constant <br> Maturity+3.86%)±<br>| 8.13 | &nbsp;&nbsp; 6-15-2053 | 830000 | &nbsp;&nbsp; 819979 |
| &nbsp;&nbsp;&nbsp; Entergy Mississippi LLC | 5.80 | &nbsp;&nbsp; 4-15-2055 | 450000 | &nbsp;&nbsp; 435104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUSHI Finance, Inc. (5 Year Treasury Constant <br> Maturity+3.14%)±<br>| 7.63 | &nbsp;&nbsp; 12-15-2054 | 1630000 | &nbsp;&nbsp; 1666481 |
| &nbsp;&nbsp;&nbsp; Evergy, Inc. (5 Year Treasury Constant Maturity+2.56%)± | 6.65 | &nbsp;&nbsp; 6-1-2055 | 75000 | &nbsp;&nbsp; 74237 |
| &nbsp;&nbsp;&nbsp; Interstate Power & Light Co. | 5.60 | &nbsp;&nbsp; 6-29-2035 | 1300000 | &nbsp;&nbsp; 1307656 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. | 5.25 | &nbsp;&nbsp; 7-1-2030 | 220000 | &nbsp;&nbsp; 213458 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. (5 Year Treasury Constant Maturity+3.88%)± | 7.38 | &nbsp;&nbsp; 3-15-2055 | 2680000 | &nbsp;&nbsp; 2624296 |
| &nbsp;&nbsp;&nbsp; PSEG Power LLC144A | 5.75 | &nbsp;&nbsp; 5-15-2035 | 1595000 | &nbsp;&nbsp; 1606449 |
| &nbsp;&nbsp;&nbsp; Sempra (5 Year Treasury Constant Maturity+2.35%)± | 6.63 | &nbsp;&nbsp; 4-1-2055 | 65000 | &nbsp;&nbsp; 61163 |
| &nbsp;&nbsp;&nbsp; Southern California Edison Co. | 3.65 | &nbsp;&nbsp; 2-1-2050 | 150000 | &nbsp;&nbsp; 97165 |
| &nbsp;&nbsp;&nbsp; Southern California Edison Co. | 5.75 | &nbsp;&nbsp; 4-15-2054 | 340000 | &nbsp;&nbsp; 298671 |
| &nbsp;&nbsp;&nbsp; Southern California Edison Co. | 5.90 | &nbsp;&nbsp; 3-1-2055 | 1165000 | &nbsp;&nbsp; 1046095 |
| &nbsp;&nbsp;&nbsp; Southwestern Public Service Co. | 6.00 | &nbsp;&nbsp; 6-1-2054 | 500000 | &nbsp;&nbsp; 489918 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC144A | 3.70 | &nbsp;&nbsp; 1-30-2027 | 920000 | &nbsp;&nbsp; 902786 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC144A | 7.75 | &nbsp;&nbsp; 10-15-2031 | 430000 | &nbsp;&nbsp; 455945 |
|  |  |  |  | &nbsp;&nbsp; **15693938** |

---

See accompanying notes to portfolio of investments

Allspring Managed Account CoreBuilder® Shares - Series CP \| 11

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Gas: 0.00%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Brooklyn Union Gas Co.144A | 6.39<br> %<br>| &nbsp;&nbsp; 9-15-2033 | $25000 | &nbsp;&nbsp; $**26118** |
| **Total corporate bonds and notes (Cost $138,773,827)** |  |  |  | &nbsp;&nbsp; **139252367** |
| **Foreign corporate bonds and notes: 6.40%** |  |  |  |  |
| **Communications: 1.30%** |  |  |  |  |
| **Internet: 0.11%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United Group BV144A | 6.50 | &nbsp;&nbsp; 10-31-2031 | 800000 | &nbsp;&nbsp; **935407** |
| **Media: 0.01%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Tele Columbus AG (PIK at 10.00%)144A¥ | 10.00 | &nbsp;&nbsp; 1-1-2029 | 111783 | &nbsp;&nbsp; **97731** |
| **Telecommunications: 1.18%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; British Telecommunications PLC (UK Gilts 5 <br> Year+3.82%)±<br>| 8.38 | &nbsp;&nbsp; 12-20-2083 | 600000 | &nbsp;&nbsp; 863768 |
| &nbsp;&nbsp;&nbsp; Chorus Ltd. | 3.63 | &nbsp;&nbsp; 9-7-2029 | 500000 | &nbsp;&nbsp; 582755 |
| &nbsp;&nbsp;&nbsp; Eutelsat SA | 1.50 | &nbsp;&nbsp; 10-13-2028 | 200000 | &nbsp;&nbsp; 195381 |
| &nbsp;&nbsp;&nbsp; Fibercop SpA | 1.63 | &nbsp;&nbsp; 1-18-2029 | 1000000 | &nbsp;&nbsp; 1055758 |
| &nbsp;&nbsp;&nbsp; Koninklijke KPN NV | 3.88 | &nbsp;&nbsp; 7-3-2031 | 400000 | &nbsp;&nbsp; 473396 |
| &nbsp;&nbsp;&nbsp; Lorca Telecom Bondco SA | 4.00 | &nbsp;&nbsp; 9-18-2027 | 900000 | &nbsp;&nbsp; 1021905 |
| &nbsp;&nbsp;&nbsp; Tele2 AB | 0.75 | &nbsp;&nbsp; 3-23-2031 | 1000000 | &nbsp;&nbsp; 1010503 |
| &nbsp;&nbsp;&nbsp; Telecom Italia SpA | 1.63 | &nbsp;&nbsp; 1-18-2029 | 300000 | &nbsp;&nbsp; 323376 |
| &nbsp;&nbsp;&nbsp; Telefonaktiebolaget LM Ericsson | 1.00 | &nbsp;&nbsp; 5-26-2029 | 250000 | &nbsp;&nbsp; 261868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telefonica Europe BV (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 7 Year+3.35%)ʊ±<br>| 6.14 | &nbsp;&nbsp; 2-3-2030 | 1100000 | &nbsp;&nbsp; 1324547 |
| &nbsp;&nbsp;&nbsp; VMED O2 U.K. Financing I PLC | 5.63 | &nbsp;&nbsp; 4-15-2032 | 810000 | &nbsp;&nbsp; 948475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vodafone Group PLC (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 5 Year+3.48%)±<br>| 3.00 | &nbsp;&nbsp; 8-27-2080 | 840000 | &nbsp;&nbsp; 897744 |
| &nbsp;&nbsp;&nbsp; Zegona Finance PLC144A | 6.75 | &nbsp;&nbsp; 7-15-2029 | 800000 | &nbsp;&nbsp; 965133 |
|  |  |  |  | &nbsp;&nbsp; **9924609** |
| **Consumer, cyclical: 1.04%** |  |  |  |  |
| **Auto parts & equipment: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forvia SE | 7.25 | &nbsp;&nbsp; 6-15-2026 | 500000 | &nbsp;&nbsp; **578687** |
| **Distribution/wholesale: 0.11%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; SIG PLC144A | 9.75 | &nbsp;&nbsp; 10-31-2029 | 800000 | &nbsp;&nbsp; **900412** |
| **Entertainment: 0.50%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 888 Acquisitions Ltd.144A | 7.56 | &nbsp;&nbsp; 7-15-2027 | 800000 | &nbsp;&nbsp; 910722 |
| &nbsp;&nbsp;&nbsp; Allwyn Entertainment Financing U.K. PLC144A | 7.25 | &nbsp;&nbsp; 4-30-2030 | 800000 | &nbsp;&nbsp; 965185 |
| &nbsp;&nbsp;&nbsp; Banijay Entertainment SASU144A | 7.00 | &nbsp;&nbsp; 5-1-2029 | 900000 | &nbsp;&nbsp; 1068146 |
| &nbsp;&nbsp;&nbsp; Cirsa Finance International Sarl144A | 10.38 | &nbsp;&nbsp; 11-30-2027 | 540000 | &nbsp;&nbsp; 646805 |
| &nbsp;&nbsp;&nbsp; Motion Finco Sarl | 7.38 | &nbsp;&nbsp; 6-15-2030 | 300000 | &nbsp;&nbsp; 326328 |
| &nbsp;&nbsp;&nbsp; Universal Music Group NV | 4.00 | &nbsp;&nbsp; 6-13-2031 | 250000 | &nbsp;&nbsp; 295949 |
|  |  |  |  | &nbsp;&nbsp; **4213135** |

---

See accompanying notes to portfolio of investments

12 \| Allspring Managed Account CoreBuilder® Shares - Series CP

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Leisure time: 0.23%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TUI AG | 5.88<br> %<br>| &nbsp;&nbsp; 3-15-2029 | EUR | 900000 | &nbsp;&nbsp; $1062781 |
| &nbsp;&nbsp;&nbsp; TUI Cruises GmbH144A | 5.00 | &nbsp;&nbsp; 5-15-2030 | EUR | 729000 | &nbsp;&nbsp; 832106 |
|  |  |  |  |  | &nbsp;&nbsp; **1894887** |
| **Lodging: 0.11%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AccorInvest Group SA | 5.50 | &nbsp;&nbsp; 11-15-2031 | EUR | 800000 | &nbsp;&nbsp; **916644** |
| **Toys/games/hobbies: 0.02%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Asmodee Group AB | 5.75 | &nbsp;&nbsp; 12-15-2029 | EUR | 160000 | &nbsp;&nbsp; **190510** |
| **Consumer, non-cyclical: 1.19%** |  |  |  |  |  |
| **Agriculture: 0.18%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; BAT International Finance PLC | 2.25 | &nbsp;&nbsp; 1-16-2030 | EUR | 1380000 | &nbsp;&nbsp; **1512480** |
| **Commercial services: 0.67%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Amber Finco PLC | 6.63 | &nbsp;&nbsp; 7-15-2029 | EUR | 900000 | &nbsp;&nbsp; 1069127 |
| &nbsp;&nbsp;&nbsp; Nexi SpA | 2.13 | &nbsp;&nbsp; 4-30-2029 | EUR | 1000000 | &nbsp;&nbsp; 1092530 |
| &nbsp;&nbsp;&nbsp; Rentokil Initial Finance BV | 3.88 | &nbsp;&nbsp; 6-27-2027 | EUR | 1050000 | &nbsp;&nbsp; 1217075 |
| &nbsp;&nbsp;&nbsp; Transurban Finance Co. Pty. Ltd. | 4.23 | &nbsp;&nbsp; 4-26-2033 | EUR | 650000 | &nbsp;&nbsp; 771166 |
| &nbsp;&nbsp;&nbsp; Verisure Holding AB | 5.50 | &nbsp;&nbsp; 5-15-2030 | EUR | 860000 | &nbsp;&nbsp; 1015998 |
| &nbsp;&nbsp;&nbsp; Worldline SA | 4.13 | &nbsp;&nbsp; 9-12-2028 | EUR | 400000 | &nbsp;&nbsp; 442821 |
|  |  |  |  |  | &nbsp;&nbsp; **5608717** |
| **Food: 0.25%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Iceland Bondco PLC | 10.88 | &nbsp;&nbsp; 12-15-2027 | GBP | 735000 | &nbsp;&nbsp; 1049721 |
| &nbsp;&nbsp;&nbsp; Market Bidco Finco PLC | 5.50 | &nbsp;&nbsp; 11-4-2027 | GBP | 800000 | &nbsp;&nbsp; 1048440 |
| &nbsp;&nbsp;&nbsp; Sigma Holdco BV144A | 5.75 | &nbsp;&nbsp; 5-15-2026 | EUR | 27324 | &nbsp;&nbsp; 30912 |
|  |  |  |  |  | &nbsp;&nbsp; **2129073** |
| **Healthcare-services: 0.09%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Ephios Subco 3 Sarl | 7.88 | &nbsp;&nbsp; 1-31-2031 | EUR | 600000 | &nbsp;&nbsp; **732707** |
| **Energy: 0.33%** |  |  |  |  |  |
| **Oil & gas: 0.20%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aker BP ASA | 1.13 | &nbsp;&nbsp; 5-12-2029 | EUR | 250000 | &nbsp;&nbsp; 263197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Repsol International Finance BV (EUR Swap Annual (vs. 6 <br> Month EURIBOR) 5 Year+2.77%)ʊ±<br>| 2.50 | &nbsp;&nbsp; 12-22-2026 | EUR | 550000 | &nbsp;&nbsp; 612970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wintershall Dea Finance 2 BV Series NC8 (EUR Swap <br> Annual (vs. 6 Month EURIBOR) 5 Year+3.32%)ʊ±<br>| 3.00 | &nbsp;&nbsp; 7-20-2028 | EUR | 800000 | &nbsp;&nbsp; 841214 |
|  |  |  |  |  | &nbsp;&nbsp; **1717381** |
| **Oil & gas services: 0.13%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; OEG Finance PLC | 7.25 | &nbsp;&nbsp; 9-27-2029 | EUR | 900000 | &nbsp;&nbsp; **1046531** |
| **Financial: 1.21%** |  |  |  |  |  |
| **Banks: 0.79%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ABN AMRO Bank NV (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 5 Year+3.90%)ʊ±<br>| 4.75 | &nbsp;&nbsp; 9-22-2027 | EUR | 1000000 | &nbsp;&nbsp; 1121342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BAWAG Group AG (EURIBOR ICE Swap Rate <br> 11:00am+5.05%)ʊ±<br>| 7.25 | &nbsp;&nbsp; 9-18-2029 | EUR | 1000000 | &nbsp;&nbsp; 1169684 |

---

See accompanying notes to portfolio of investments

Allspring Managed Account CoreBuilder® Shares - Series CP \| 13

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Banks**(continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CaixaBank SA (EUR Swap Annual (vs. 6 Month EURIBOR) 5 <br> Year+3.55%)±<br>| 6.25<br> %<br>| &nbsp;&nbsp; 2-23-2033 | EUR | 400000 | &nbsp;&nbsp; $485693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Agricole SA (EURIBOR ICE Swap Rate <br> 11:00am+4.44%)ʊ±<br>| 7.25 | &nbsp;&nbsp; 9-23-2028 | EUR | 200000 | &nbsp;&nbsp; 242600 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG (3 Month EURIBOR+2.95%)± | 5.00 | &nbsp;&nbsp; 9-5-2030 | EUR | 500000 | &nbsp;&nbsp; 604856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KBC Group NV (EURIBOR ICE Swap Rate <br> 11:00am+4.93%)ʊ±<br>| 8.00 | &nbsp;&nbsp; 9-5-2028 | EUR | 800000 | &nbsp;&nbsp; 998279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nykredit Realkredit AS (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 5 Year+4.57%)ʊ±<br>| 4.13 | &nbsp;&nbsp; 4-15-2026 | EUR | 600000 | &nbsp;&nbsp; 677489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raiffeisen Bank International AG (EURIBOR ICE Swap Rate <br> 11:00am+5.20%)±<br>| 7.38 | &nbsp;&nbsp; 12-20-2032 | EUR | 300000 | &nbsp;&nbsp; 365470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG (EURIBOR ICE Swap Rate <br> 11:00am+4.95%)±<br>| 7.75 | &nbsp;&nbsp; 3-1-2029 | EUR | 750000 | &nbsp;&nbsp; 959869 |
|  |  |  |  |  | &nbsp;&nbsp; **6625282** |
| **Diversified financial services: 0.11%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Sherwood Financing PLC | 4.50 | &nbsp;&nbsp; 11-15-2026 | EUR | 800000 | &nbsp;&nbsp; **903863** |
| **Insurance: 0.18%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assicurazioni Generali SpA | 2.43 | &nbsp;&nbsp; 7-14-2031 | EUR | 300000 | &nbsp;&nbsp; 321244 |
| &nbsp;&nbsp;&nbsp; AXA SA | 3.63 | &nbsp;&nbsp; 1-10-2033 | EUR | 1000000 | &nbsp;&nbsp; 1180789 |
|  |  |  |  |  | &nbsp;&nbsp; **1502033** |
| **Real estate: 0.13%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Castellum AB (EUR Swap Annual (vs. 6 Month EURIBOR) 5 <br> Year+3.45%)ʊ±<br>| 3.13 | &nbsp;&nbsp; 12-2-2026 | EUR | 1000000 | &nbsp;&nbsp; **1102622** |
| **Government securities: 0.18%** |  |  |  |  |  |
| **Multi-national: 0.18%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Banque Ouest Africaine de Developpement | 2.75 | &nbsp;&nbsp; 1-22-2033 | EUR | 1570000 | &nbsp;&nbsp; **1500897** |
| **Industrial: 0.31%** |  |  |  |  |  |
| **Engineering & construction: 0.14%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bouygues SA | 4.63 | &nbsp;&nbsp; 6-7-2032 | EUR | 500000 | &nbsp;&nbsp; 616208 |
| &nbsp;&nbsp;&nbsp; Infrastrutture Wireless Italiane SpA | 1.75 | &nbsp;&nbsp; 4-19-2031 | EUR | 500000 | &nbsp;&nbsp; 525230 |
|  |  |  |  |  | &nbsp;&nbsp; **1141438** |
| **Machinery-diversified: 0.17%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; John Deere Bank SA | 2.50 | &nbsp;&nbsp; 9-14-2026 | EUR | 500000 | &nbsp;&nbsp; 568905 |
| &nbsp;&nbsp;&nbsp; Nova Alexandre III SAS (3 Month EURIBOR+5.25%)144A± | 7.53 | &nbsp;&nbsp; 7-15-2029 | EUR | 750000 | &nbsp;&nbsp; 863566 |
|  |  |  |  |  | &nbsp;&nbsp; **1432471** |
| **Technology: 0.19%** |  |  |  |  |  |
| **Computers: 0.19%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Almaviva-The Italian Innovation Co. SpA144A | 5.00 | &nbsp;&nbsp; 10-30-2030 | EUR | 729000 | &nbsp;&nbsp; 849533 |
| &nbsp;&nbsp;&nbsp; Teleperformance SE | 5.75 | &nbsp;&nbsp; 11-22-2031 | EUR | 600000 | &nbsp;&nbsp; 738088 |
|  |  |  |  |  | &nbsp;&nbsp; **1587621** |

---

See accompanying notes to portfolio of investments

14 \| Allspring Managed Account CoreBuilder® Shares - Series CP

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Utilities: 0.65%** |  |  |  |  |  |
| **Electric: 0.37%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Enel Finance International NVøø | 0.75<br> %<br>| &nbsp;&nbsp; 6-17-2030 | EUR | 1000000 | &nbsp;&nbsp; $1017848 |
| &nbsp;&nbsp;&nbsp; Energia Group Roi Financeco DAC144A | 6.88 | &nbsp;&nbsp; 7-31-2028 | EUR | 900000 | &nbsp;&nbsp; 1057798 |
| &nbsp;&nbsp;&nbsp; Vattenfall AB (UK Gilts 5 Year+1.90%)± | 2.50 | &nbsp;&nbsp; 6-29-2083 | GBP | 800000 | &nbsp;&nbsp; 972808 |
|  |  |  |  |  | &nbsp;&nbsp; **3048454** |
| **Gas: 0.15%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; APA Infrastructure Ltd. | 2.00 | &nbsp;&nbsp; 7-15-2030 | EUR | 1200000 | &nbsp;&nbsp; **1285126** |
| **Water: 0.13%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Holding d'Infrastructures des Metiers de l'Environnement | 4.88 | &nbsp;&nbsp; 10-24-2029 | EUR | 945000 | &nbsp;&nbsp; **1110888** |
| &nbsp;&nbsp; **Total foreign corporate bonds and notes (Cost** <br> **$50,428,062)**<br>|  |  |  |  | &nbsp;&nbsp; **53639606** |
| **Foreign government bonds: 5.51%** |  |  |  |  |  |
| **Brazil: 1.49%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Brazil | 10.00 | &nbsp;&nbsp; 1-1-2027 | BRL | 75500000 | &nbsp;&nbsp; **12485346** |
| **Colombia: 0.47%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Colombia TES | 7.75 | &nbsp;&nbsp; 9-18-2030 | COP | 18900000000 | &nbsp;&nbsp; **3930337** |
| **Indonesia: 0.53%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Indonesia | 6.63 | &nbsp;&nbsp; 2-15-2034 | IDR | 6000000000 | &nbsp;&nbsp; 364495 |
| &nbsp;&nbsp;&nbsp; Indonesia | 6.88 | &nbsp;&nbsp; 4-15-2029 | IDR | 66300000000 | &nbsp;&nbsp; 4119677 |
|  |  |  |  |  | &nbsp;&nbsp; **4484172** |
| **South Africa: 0.49%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Republic of South Africa | 8.00 | &nbsp;&nbsp; 1-31-2030 | ZAR | 75775000 | &nbsp;&nbsp; **4103835** |
| **United Kingdom: 2.53%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.K. Gilts | 3.25 | &nbsp;&nbsp; 1-31-2033 | GBP | 8555000 | &nbsp;&nbsp; 10645687 |
| &nbsp;&nbsp;&nbsp; U.K. Gilts | 4.13 | &nbsp;&nbsp; 7-22-2029 | GBP | 7840000 | &nbsp;&nbsp; 10575887 |
|  |  |  |  |  | &nbsp;&nbsp; **21221574** |
| **Total foreign government bonds (Cost $45,221,959)** |  |  |  |  | &nbsp;&nbsp; **46225264** |

---

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

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Investment companies: 0.40%** |  |  |
| **Exchange-traded funds: 0.40%** |  |  |
| &nbsp;&nbsp;&nbsp; SPDR Portfolio High Yield Bond ETF | 142800 | &nbsp;&nbsp; **3355800** |
| **Total investment companies (Cost $3,332,952)** |  | &nbsp;&nbsp; **3355800** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>| Principal |  |
| **Loans: 0.40%** |  |  |  |  |
| **Communications: 0.08%** |  |  |  |  |
| **Telecommunications: 0.08%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc. (U.S. SOFR 1 Month+2.35%)± | 6.79 | &nbsp;&nbsp; 4-15-2030 | $660000 | &nbsp;&nbsp; **652760** |

---

See accompanying notes to portfolio of investments

Allspring Managed Account CoreBuilder® Shares - Series CP \| 15

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Consumer, cyclical: 0.06%** |  |  |  |  |
| **Airlines: 0.01%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vista Management Holding, Inc. (U.S. SOFR 3 <br> Month+3.75%)±<br>| 8.05<br> %<br>| &nbsp;&nbsp; 4-1-2031 | $60000 | &nbsp;&nbsp; **$59950** |
| **Retail: 0.05%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petco Health & Wellness Co., Inc. (U.S. SOFR 3 <br> Month+3.25%)±<br>| 7.81 | &nbsp;&nbsp; 3-3-2028 | 500000 | &nbsp;&nbsp; **462230** |
| **Consumer, non-cyclical: 0.12%** |  |  |  |  |
| **Food: 0.08%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; B&G Foods, Inc. (U.S. SOFR 1 Month+3.50%)± | 7.83 | &nbsp;&nbsp; 10-10-2029 | 746250 | &nbsp;&nbsp; **682819** |
| **Healthcare-services: 0.04%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Modivcare, Inc. (U.S. SOFR 3 Month+4.75%)± | 9.05 | &nbsp;&nbsp; 7-1-2031 | 403977 | &nbsp;&nbsp; 271113 |
| &nbsp;&nbsp;&nbsp; Modivcare, Inc. (U.S. SOFR 3 Month+7.50%)± | 11.71 | &nbsp;&nbsp; 1-9-2026 | 70597 | &nbsp;&nbsp; 53301 |
|  |  |  |  | &nbsp;&nbsp; **324414** |
| **Energy: 0.01%** |  |  |  |  |
| **Pipelines: 0.01%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Prairie Acquiror LP (U.S. SOFR 1 Month+4.25%)± | 8.58 | &nbsp;&nbsp; 8-1-2029 | 99003 | &nbsp;&nbsp; **99312** |
| **Financial: 0.13%** |  |  |  |  |
| **Insurance: 0.13%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Asurion LLC (U.S. SOFR 1 Month+3.25%)± | 7.69 | &nbsp;&nbsp; 12-23-2026 | 1078104 | &nbsp;&nbsp; **1076681** |
| **Total loans (Cost $3,578,154)** |  |  |  | &nbsp;&nbsp; **3358166** |
| **Non-agency mortgage-backed securities: 9.81%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1345 Trust Series 2025-AOA Class A (U.S. SOFR 1 <br> Month+1.60%)144A±%%<br>| 5.90 | &nbsp;&nbsp; 6-15-2030 | 2000000 | &nbsp;&nbsp; 2004387 |
| &nbsp;&nbsp;&nbsp; A&D Mortgage Trust Series 2024-NQM4 Class A1144A | 5.46 | &nbsp;&nbsp; 8-25-2069 | 2024632 | &nbsp;&nbsp; 2022864 |
| &nbsp;&nbsp;&nbsp; Ajax Mortgage Loan Trust Series 2021-E Class A1144A±± | 1.74 | &nbsp;&nbsp; 12-25-2060 | 1799829 | &nbsp;&nbsp; 1567783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust Series 2020-R1 <br> Class A1144A±±<br>| 0.99 | &nbsp;&nbsp; 4-25-2053 | 659219 | &nbsp;&nbsp; 625125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust Series 2024-10 <br> Class A1144A±±<br>| 5.35 | &nbsp;&nbsp; 10-25-2069 | 3883816 | &nbsp;&nbsp; 3866134 |
| &nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust Series 2024-8 Class A1144A±± | 5.34 | &nbsp;&nbsp; 5-27-2069 | 1837845 | &nbsp;&nbsp; 1829017 |
| &nbsp;&nbsp;&nbsp; BAHA Trust Series 2024-MAR Class B144A±± | 6.84 | &nbsp;&nbsp; 12-10-2041 | 2240000 | &nbsp;&nbsp; 2281447 |
| &nbsp;&nbsp;&nbsp; Bank Series 2022-BNK44 Class A5±± | 5.74 | &nbsp;&nbsp; 11-15-2055 | 3835000 | &nbsp;&nbsp; 3983397 |
| &nbsp;&nbsp;&nbsp; BBCMS Mortgage Trust Series 2024-5C25 Class AS±± | 6.36 | &nbsp;&nbsp; 3-15-2057 | 795000 | &nbsp;&nbsp; 824389 |
| &nbsp;&nbsp;&nbsp; Benchmark Mortgage Trust Series 2022-B33 Class A5 | 3.46 | &nbsp;&nbsp; 3-15-2055 | 475000 | &nbsp;&nbsp; 428444 |
| &nbsp;&nbsp;&nbsp; BMO Mortgage Trust Series 2024-C8 Class AS±± | 5.91 | &nbsp;&nbsp; 3-15-2057 | 1115000 | &nbsp;&nbsp; 1145336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BRAVO Residential Funding Trust Series 2024-NQM1 <br> Class A1144A±±<br>| 5.94 | &nbsp;&nbsp; 12-1-2063 | 4817268 | &nbsp;&nbsp; 4830978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust Series 2023-VLT3 Class B <br> (U.S. SOFR 1 Month+2.69%)144A±<br>| 7.02 | &nbsp;&nbsp; 11-15-2028 | 750000 | &nbsp;&nbsp; 750000 |
| &nbsp;&nbsp;&nbsp; BX Trust Series 2019-OC11 Class A144A | 3.20 | &nbsp;&nbsp; 12-9-2041 | 250000 | &nbsp;&nbsp; 231269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Trust Series 2021-ARIA Class A (U.S. SOFR 1 <br> Month+1.01%)144A±<br>| 5.34 | &nbsp;&nbsp; 10-15-2036 | 1500000 | &nbsp;&nbsp; 1492500 |

---

See accompanying notes to portfolio of investments

16 \| Allspring Managed Account CoreBuilder® Shares - Series CP

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Trust Series 2021-ARIA Class D (U.S. SOFR 1 <br> Month+2.01%)144A±<br>| 6.34<br> %<br>| &nbsp;&nbsp; 10-15-2036 | $4560000 | &nbsp;&nbsp; $4528650 |
| &nbsp;&nbsp;&nbsp; BX Trust Series 2022-CLS Class C144A | 6.79 | &nbsp;&nbsp; 10-13-2027 | 585000 | &nbsp;&nbsp; 572127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Trust Series 2024-BIO Class C (U.S. SOFR 1 <br> Month+2.64%)144A±<br>| 6.97 | &nbsp;&nbsp; 2-15-2041 | 750000 | &nbsp;&nbsp; 744375 |
| &nbsp;&nbsp;&nbsp; CHNGE Mortgage Trust Series 2022-2 Class A1144A±± | 3.76 | &nbsp;&nbsp; 3-25-2067 | 912846 | &nbsp;&nbsp; 882087 |
| &nbsp;&nbsp;&nbsp; CHNGE Mortgage Trust Series 2023-4 Class A1144A±± | 7.57 | &nbsp;&nbsp; 9-25-2058 | 202185 | &nbsp;&nbsp; 205091 |
| &nbsp;&nbsp;&nbsp; CSMC Trust Series 2018-RPL9 Class A144A±± | 3.85 | &nbsp;&nbsp; 9-25-2057 | 1064013 | &nbsp;&nbsp; 1025085 |
| &nbsp;&nbsp;&nbsp; DBSG Mortgage Trust Series 2024-ALTA Class A144A±± | 5.95 | &nbsp;&nbsp; 6-10-2037 | 1615000 | &nbsp;&nbsp; 1639245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fontainebleau Miami Beach Mortgage Trust Series 2024-<br> FBLU Class D (U.S. SOFR 1 Month+2.60%)144A±<br>| 6.93 | &nbsp;&nbsp; 12-15-2039 | 2165000 | &nbsp;&nbsp; 2151469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FREMF Mortgage Trust Series 2019-KF70 Class B (30 Day <br> Average U.S. SOFR+2.41%)144A±<br>| 6.77 | &nbsp;&nbsp; 9-25-2029 | 65831 | &nbsp;&nbsp; 61984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FREMF Mortgage Trust Series 2020-KF76 Class B (30 Day <br> Average U.S. SOFR+2.86%)144A±<br>| 7.22 | &nbsp;&nbsp; 1-25-2030 | 119706 | &nbsp;&nbsp; 116810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GS Mortgage Securities Corp. Trust Series 2021-DM <br> Class A (U.S. SOFR 1 Month+1.00%)144A±<br>| 5.33 | &nbsp;&nbsp; 11-15-2036 | 750000 | &nbsp;&nbsp; 744375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Harvest Commercial Capital Loan Trust Series 2024-1 <br> Class A<br>| 6.16 | &nbsp;&nbsp; 10-25-2056 | 317748 | &nbsp;&nbsp; 326366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hawaii Hotel Trust Series 2025-MAUI Class B (U.S. SOFR 1 <br> Month+1.74%)144A±<br>| 6.07 | &nbsp;&nbsp; 3-15-2042 | 3700000 | &nbsp;&nbsp; 3681508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Imperial Fund Mortgage Trust Series 2021-NQM1 <br> Class A1144A±±<br>| 1.07 | &nbsp;&nbsp; 6-25-2056 | 101051 | &nbsp;&nbsp; 87415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Imperial Fund Mortgage Trust Series 2021-NQM2 <br> Class A2144A±±<br>| 1.36 | &nbsp;&nbsp; 9-25-2056 | 430173 | &nbsp;&nbsp; 363297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMBB Commercial Mortgage Securities Trust Series 2013-<br> C15 Class D144A±±<br>| 4.61 | &nbsp;&nbsp; 11-15-2045 | 131141 | &nbsp;&nbsp; 111353 |
| &nbsp;&nbsp;&nbsp; JPMorgan Mortgage Trust Series 2020-1 Class A15144A±± | 3.50 | &nbsp;&nbsp; 6-25-2050 | 70106 | &nbsp;&nbsp; 62440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Mortgage Trust Series 2025-4 <br> Class A4A144A±±<br>| 5.50 | &nbsp;&nbsp; 11-25-2055 | 4780000 | &nbsp;&nbsp; 4769183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MCR Mortgage Trust Series 2024-HF1 Class A (U.S. SOFR 1 <br> Month+1.79%)144A±<br>| 6.12 | &nbsp;&nbsp; 12-15-2041 | 1695000 | &nbsp;&nbsp; 1695000 |
| &nbsp;&nbsp;&nbsp; MFA Trust Series 2020-NQM3 Class M1144A±± | 2.65 | &nbsp;&nbsp; 1-26-2065 | 900000 | &nbsp;&nbsp; 819888 |
| &nbsp;&nbsp;&nbsp; MFA Trust Series 2021-INV1 Class A2144A±± | 1.06 | &nbsp;&nbsp; 1-25-2056 | 467025 | &nbsp;&nbsp; 448188 |
| &nbsp;&nbsp;&nbsp; MFA Trust Series 2021-NQM1 Class A1144A±± | 1.15 | &nbsp;&nbsp; 4-25-2065 | 76941 | &nbsp;&nbsp; 72595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mill City Mortgage Loan Trust Series 2021-NMR1 <br> Class B2144A±±<br>| 2.50 | &nbsp;&nbsp; 11-25-2060 | 1980000 | &nbsp;&nbsp; 1481091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust Series 2014-150E <br> Class A144A<br>| 3.91 | &nbsp;&nbsp; 9-9-2032 | 3200000 | &nbsp;&nbsp; 2842307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust Series 2018-4A <br> Class A1M (U.S. SOFR 1 Month+1.01%)144A±<br>| 5.34 | &nbsp;&nbsp; 1-25-2048 | 67058 | &nbsp;&nbsp; 65652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust Series 2022-NQM1 <br> Class A1144A±±<br>| 2.28 | &nbsp;&nbsp; 4-25-2061 | 350470 | &nbsp;&nbsp; 306835 |
| &nbsp;&nbsp;&nbsp; OBX Trust Series 2022-NQM7 Class A1144A±± | 5.11 | &nbsp;&nbsp; 8-25-2062 | 1136872 | &nbsp;&nbsp; 1129245 |
| &nbsp;&nbsp;&nbsp; PRKCM Trust Series 2022-AFC1 Class A1A144A±± | 4.10 | &nbsp;&nbsp; 4-25-2057 | 1360154 | &nbsp;&nbsp; 1338887 |
| &nbsp;&nbsp;&nbsp; PRPM LLC Series 2024-2 Class A1144A±± | 7.03 | &nbsp;&nbsp; 3-25-2029 | 403253 | &nbsp;&nbsp; 403316 |
| &nbsp;&nbsp;&nbsp; PRPM LLC Series 2024-NQM3 Class A1144A±± | 5.23 | &nbsp;&nbsp; 8-25-2069 | 2697066 | &nbsp;&nbsp; 2680160 |
| &nbsp;&nbsp;&nbsp; RCKT Mortgage Trust Series 2025-CES1 Class A1A144A±± | 5.65 | &nbsp;&nbsp; 1-25-2045 | 1899506 | &nbsp;&nbsp; 1911083 |

---

See accompanying notes to portfolio of investments

Allspring Managed Account CoreBuilder® Shares - Series CP \| 17

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SG Residential Mortgage Trust Series 2021-1 <br> Class A2144A±±<br>| 1.36<br> %<br>| &nbsp;&nbsp; 7-25-2061 | $1536711 | &nbsp;&nbsp; $1262462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHR Trust Series 2024-LXRY Class A (U.S. SOFR 1 <br> Month+1.95%)144A±<br>| 6.28 | &nbsp;&nbsp; 10-15-2041 | 3325000 | &nbsp;&nbsp; 3329159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starwood Mortgage Residential Trust Series 2020-INV1 <br> Class A1144A±±<br>| 1.03 | &nbsp;&nbsp; 11-25-2055 | 39094 | &nbsp;&nbsp; 36779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SWCH Commercial Mortgage Trust Series 2025-DATA <br> Class C (U.S. SOFR 1 Month+2.09%)144A±<br>| 6.42 | &nbsp;&nbsp; 2-15-2042 | 4000000 | &nbsp;&nbsp; 3954965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Towd Point Mortgage Trust Series 2019-HY3 Class A2 <br> (U.S. SOFR 1 Month+1.41%)144A±<br>| 5.74 | &nbsp;&nbsp; 10-25-2059 | 150000 | &nbsp;&nbsp; 152400 |
| &nbsp;&nbsp;&nbsp; Towd Point Mortgage Trust Series 2020-4 Class A2144A | 2.50 | &nbsp;&nbsp; 10-25-2060 | 350000 | &nbsp;&nbsp; 281042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Towd Point Mortgage Trust Series 2023-CES1 <br> Class A1A144A±±<br>| 6.75 | &nbsp;&nbsp; 7-25-2063 | 837404 | &nbsp;&nbsp; 843687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Verus Securitization Trust Series 2021-R3 <br> Class A1144A±±<br>| 1.02 | &nbsp;&nbsp; 4-25-2064 | 242807 | &nbsp;&nbsp; 229661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Verus Securitization Trust Series 2021-R3 <br> Class A2144A±±<br>| 1.28 | &nbsp;&nbsp; 4-25-2064 | 51162 | &nbsp;&nbsp; 48122 |
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust Series 2024-4 Class A1144A±± | 6.22 | &nbsp;&nbsp; 6-25-2069 | 2018442 | &nbsp;&nbsp; 2033686 |
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust Series 2024-9 Class M1144A±± | 6.20 | &nbsp;&nbsp; 11-25-2069 | 5000000 | &nbsp;&nbsp; 4975405 |
| &nbsp;&nbsp; **Total non-agency mortgage-backed securities** <br> **(Cost $82,553,386)**<br>|  |  |  | &nbsp;&nbsp; **82297545** |
| **U.S. Treasury securities: 22.76%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds## | 4.25 | &nbsp;&nbsp; 8-15-2054 | 9380000 | &nbsp;&nbsp; 8387772 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds | 4.50 | &nbsp;&nbsp; 2-15-2044 | 135000 | &nbsp;&nbsp; 128028 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds | 4.63 | &nbsp;&nbsp; 11-15-2044 | 470000 | &nbsp;&nbsp; 451420 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds## | 4.63 | &nbsp;&nbsp; 5-15-2054 | 9325000 | &nbsp;&nbsp; 8870042 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds## | 4.63 | &nbsp;&nbsp; 2-15-2055 | 12260000 | &nbsp;&nbsp; 11692975 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds | 4.75 | &nbsp;&nbsp; 11-15-2043 | 2265000 | &nbsp;&nbsp; 2220673 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds | 4.75 | &nbsp;&nbsp; 2-15-2045 | 30000 | &nbsp;&nbsp; 29283 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds | 4.75 | &nbsp;&nbsp; 11-15-2053 | 580000 | &nbsp;&nbsp; 562827 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes | 3.75 | &nbsp;&nbsp; 4-30-2027 | 1935000 | &nbsp;&nbsp; 1929029 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes## | 3.88 | &nbsp;&nbsp; 4-30-2030 | 49210000 | &nbsp;&nbsp; 49013929 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes | 4.00 | &nbsp;&nbsp; 2-28-2030 | 7720000 | &nbsp;&nbsp; 7736586 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes## | 4.00 | &nbsp;&nbsp; 3-31-2030 | 61840000 | &nbsp;&nbsp; 61946287 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes## | 4.13 | &nbsp;&nbsp; 10-31-2029 | 11875000 | &nbsp;&nbsp; 11960815 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes | 4.13 | &nbsp;&nbsp; 3-31-2032 | 40000 | &nbsp;&nbsp; 39919 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes%% | 4.13 | &nbsp;&nbsp; 5-31-2032 | 22270000 | &nbsp;&nbsp; 22183008 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes | 4.25 | &nbsp;&nbsp; 5-15-2035 | 3745000 | &nbsp;&nbsp; 3702869 |
| **Total U.S. Treasury securities (Cost $191,858,960)** |  |  |  | &nbsp;&nbsp; **190855462** |
| **Yankee corporate bonds and notes: 8.61%** |  |  |  |  |
| **Basic materials: 0.35%** |  |  |  |  |
| **Chemicals: 0.18%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Braskem Netherlands Finance BV144A | 7.25 | &nbsp;&nbsp; 2-13-2033 | 800000 | &nbsp;&nbsp; 696050 |
| &nbsp;&nbsp;&nbsp; Orbia Advance Corp. SAB de CV144A | 7.50 | &nbsp;&nbsp; 5-13-2035 | 800000 | &nbsp;&nbsp; 805200 |
|  |  |  |  | &nbsp;&nbsp; **1501250** |

---

See accompanying notes to portfolio of investments

18 \| Allspring Managed Account CoreBuilder® Shares - Series CP

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Mining: 0.17%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Rio Tinto Finance USA PLC | 5.75<br> %<br>| &nbsp;&nbsp; 3-14-2055 | $1490000 | &nbsp;&nbsp; **$1448620** |
| **Communications: 0.21%** |  |  |  |  |
| **Media: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Virgin Media Secured Finance PLC144A | 4.50 | &nbsp;&nbsp; 8-15-2030 | 290000 | &nbsp;&nbsp; 267775 |
| &nbsp;&nbsp;&nbsp; VZ Secured Financing BV144A | 5.00 | &nbsp;&nbsp; 1-15-2032 | 400000 | &nbsp;&nbsp; 345775 |
|  |  |  |  | &nbsp;&nbsp; **613550** |
| **Telecommunications: 0.14%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Colombia Telecomunicaciones SA ESP144A | 4.95 | &nbsp;&nbsp; 7-17-2030 | 525000 | &nbsp;&nbsp; 460713 |
| &nbsp;&nbsp;&nbsp; Nokia Oyj | 6.63 | &nbsp;&nbsp; 5-15-2039 | 10000 | &nbsp;&nbsp; 10171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rogers Communications, Inc. (5 Year Treasury Constant <br> Maturity+2.62%)±<br>| 7.13 | &nbsp;&nbsp; 4-15-2055 | 390000 | &nbsp;&nbsp; 390565 |
| &nbsp;&nbsp;&nbsp; Zegona Finance PLC144A | 8.63 | &nbsp;&nbsp; 7-15-2029 | 275000 | &nbsp;&nbsp; 292875 |
|  |  |  |  | &nbsp;&nbsp; **1154324** |
| **Consumer, cyclical: 1.22%** |  |  |  |  |
| **Auto parts & equipment: 0.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Magna International, Inc. | 5.88 | &nbsp;&nbsp; 6-1-2035 | 500000 | &nbsp;&nbsp; **503831** |
| **Leisure time: 1.16%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Carnival Corp.144A | 5.75 | &nbsp;&nbsp; 3-1-2027 | 1000000 | &nbsp;&nbsp; 1002501 |
| &nbsp;&nbsp;&nbsp; Carnival Corp.144A | 6.13 | &nbsp;&nbsp; 2-15-2033 | 4315000 | &nbsp;&nbsp; 4325656 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd.144A | 6.00 | &nbsp;&nbsp; 2-1-2033 | 4035000 | &nbsp;&nbsp; 4049484 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd.144A | 6.25 | &nbsp;&nbsp; 3-15-2032 | 350000 | &nbsp;&nbsp; 354725 |
|  |  |  |  | &nbsp;&nbsp; **9732366** |
| **Consumer, non-cyclical: 0.39%** |  |  |  |  |
| **Agriculture: 0.21%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Japan Tobacco, Inc.144A | 5.85 | &nbsp;&nbsp; 6-15-2035 | 1670000 | &nbsp;&nbsp; **1721874** |
| **Cosmetics/Personal Care: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Perrigo Finance Unlimited Co. | 6.13 | &nbsp;&nbsp; 9-30-2032 | 205000 | &nbsp;&nbsp; **204637** |
| **Pharmaceuticals: 0.16%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Pfizer Investment Enterprises Pte. Ltd. | 5.30 | &nbsp;&nbsp; 5-19-2053 | 1055000 | &nbsp;&nbsp; 966980 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV | 8.13 | &nbsp;&nbsp; 9-15-2031 | 350000 | &nbsp;&nbsp; 389340 |
|  |  |  |  | &nbsp;&nbsp; **1356320** |
| **Energy: 1.40%** |  |  |  |  |
| **Oil & gas: 1.11%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aker BP ASA144A | 5.13 | &nbsp;&nbsp; 10-1-2034 | 965000 | &nbsp;&nbsp; 905072 |
| &nbsp;&nbsp;&nbsp; Borr IHC Ltd./Borr Finance LLC144A | 10.00 | &nbsp;&nbsp; 11-15-2028 | 177683 | &nbsp;&nbsp; 153383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BP Capital Markets PLC (5 Year Treasury Constant <br> Maturity+2.15%)ʊ±<br>| 6.45 | &nbsp;&nbsp; 12-1-2033 | 1000000 | &nbsp;&nbsp; 1006085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BP Capital Markets PLC (5 Year Treasury Constant <br> Maturity+4.40%)ʊ±<br>| 4.88 | &nbsp;&nbsp; 3-22-2030 | 355000 | &nbsp;&nbsp; 340710 |
| &nbsp;&nbsp;&nbsp; Eni SpA144A | 5.95 | &nbsp;&nbsp; 5-15-2054 | 2995000 | &nbsp;&nbsp; 2802723 |
| &nbsp;&nbsp;&nbsp; Saudi Arabian Oil Co.144A%% | 5.38 | &nbsp;&nbsp; 6-2-2035 | 815000 | &nbsp;&nbsp; 813020 |

---

See accompanying notes to portfolio of investments

Allspring Managed Account CoreBuilder® Shares - Series CP \| 19

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Oil & gas**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Saudi Arabian Oil Co.144A%% | 6.38<br> %<br>| &nbsp;&nbsp; 6-2-2055 | $2000000 | &nbsp;&nbsp; $1960000 |
| &nbsp;&nbsp;&nbsp; TotalEnergies Capital SA | 5.43 | &nbsp;&nbsp; 9-10-2064 | 1000000 | &nbsp;&nbsp; 907135 |
| &nbsp;&nbsp;&nbsp; Var Energi ASA144A | 6.50 | &nbsp;&nbsp; 5-22-2035 | 455000 | &nbsp;&nbsp; 459322 |
|  |  |  |  | &nbsp;&nbsp; **9347450** |
| **Pipelines: 0.29%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. | 5.95 | &nbsp;&nbsp; 4-5-2054 | 820000 | &nbsp;&nbsp; 785897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc. (5 Year Treasury Constant <br> Maturity+4.42%)±<br>| 7.63 | &nbsp;&nbsp; 1-15-2083 | 15000 | &nbsp;&nbsp; 15529 |
| &nbsp;&nbsp;&nbsp; Northriver Midstream Finance LP144A | 6.75 | &nbsp;&nbsp; 7-15-2032 | 1105000 | &nbsp;&nbsp; 1115090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Bow Canadian Infrastructure Holdings Ltd. (5 Year <br> Treasury Constant Maturity+3.95%)144A±<br>| 7.63 | &nbsp;&nbsp; 3-1-2055 | 500000 | &nbsp;&nbsp; 504681 |
|  |  |  |  | &nbsp;&nbsp; **2421197** |
| **Financial: 3.80%** |  |  |  |  |
| **Banks: 2.47%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Industrial SA (5 Year Treasury Constant <br> Maturity+4.44%)144A±<br>| 4.88 | &nbsp;&nbsp; 1-29-2031 | 150000 | &nbsp;&nbsp; 147000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Mercantil del Norte SA (5 Year Treasury Constant <br> Maturity+4.07%)144Aʊ±<br>| 8.38 | &nbsp;&nbsp; 5-20-2031 | 700000 | &nbsp;&nbsp; 694589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Mercantil del Norte SA (5 Year Treasury Constant <br> Maturity+4.64%)144Aʊ±<br>| 5.88 | &nbsp;&nbsp; 1-24-2027 | 1200000 | &nbsp;&nbsp; 1171834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Nacional de Comercio Exterior SNC (5 Year Treasury <br> Constant Maturity+2.00%)144A±<br>| 2.72 | &nbsp;&nbsp; 8-11-2031 | 1200000 | &nbsp;&nbsp; 1127910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bancolombia SA (5 Year Treasury Constant <br> Maturity+4.32%)±<br>| 8.63 | &nbsp;&nbsp; 12-24-2034 | 576000 | &nbsp;&nbsp; 603917 |
| &nbsp;&nbsp;&nbsp; Banque Federative du Credit Mutuel SA144A | 5.19 | &nbsp;&nbsp; 2-16-2028 | 1000000 | &nbsp;&nbsp; 1012696 |
| &nbsp;&nbsp;&nbsp; Barclays PLC (U.S. SOFR+1.23%)± | 5.37 | &nbsp;&nbsp; 2-25-2031 | 2255000 | &nbsp;&nbsp; 2274503 |
| &nbsp;&nbsp;&nbsp; Barclays PLC (U.S. SOFR+1.59%)± | 5.79 | &nbsp;&nbsp; 2-25-2036 | 1750000 | &nbsp;&nbsp; 1753840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BBVA Mexico SA Institucion De Banca Multiple Grupo <br> Financiero (5 Year Treasury Constant <br> Maturity+4.31%)144A±<br>| 5.88 | &nbsp;&nbsp; 9-13-2034 | 700000 | &nbsp;&nbsp; 672772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNP Paribas SA (5 Year Treasury Constant <br> Maturity+3.73%)144Aʊ±<br>| 8.00 | &nbsp;&nbsp; 8-22-2031 | 200000 | &nbsp;&nbsp; 209134 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA (U.S. SOFR+1.92%)144A± | 5.91 | &nbsp;&nbsp; 11-19-2035 | 200000 | &nbsp;&nbsp; 198850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonwealth Bank of Australia (1 Year Treasury <br> Constant Maturity+1.32%)144A±<br>| 5.93 | &nbsp;&nbsp; 3-14-2046 | 1845000 | &nbsp;&nbsp; 1770716 |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA (U.S. SOFR+1.46%)144A± | 5.22 | &nbsp;&nbsp; 5-27-2031 | 1640000 | &nbsp;&nbsp; 1654396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Danske Bank AS (1 Year Treasury Constant <br> Maturity+1.40%)144A±<br>| 5.71 | &nbsp;&nbsp; 3-1-2030 | 1020000 | &nbsp;&nbsp; 1051050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Danske Bank AS (1 Year Treasury Constant <br> Maturity+1.75%)144A±<br>| 4.30 | &nbsp;&nbsp; 4-1-2028 | 1250000 | &nbsp;&nbsp; 1240681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. (1 Year Treasury <br> Constant Maturity+1.27%)±<br>| 5.62 | &nbsp;&nbsp; 4-24-2036 | 725000 | &nbsp;&nbsp; 736394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NatWest Group PLC (1 Year Treasury Constant <br> Maturity+1.05%)±<br>| 5.12 | &nbsp;&nbsp; 5-23-2031 | 2850000 | &nbsp;&nbsp; 2861075 |

---

See accompanying notes to portfolio of investments

20 \| Allspring Managed Account CoreBuilder® Shares - Series CP

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Banks**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG (5 Year Treasury Constant <br> Maturity+3.40%)144Aʊ±<br>| 4.88<br> %<br>| &nbsp;&nbsp; 2-12-2027 | $610000 | &nbsp;&nbsp; $587567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG (USD SOFR ICE Swap Rate 11:00am NY 5 <br> Year+3.63%)144Aʊ±<br>| 6.85 | &nbsp;&nbsp; 9-10-2029 | 975000 | &nbsp;&nbsp; 972138 |
|  |  |  |  | &nbsp;&nbsp; **20741062** |
| **Diversified financial services: 0.35%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation Trust <br> (5 Year Treasury Constant Maturity+2.72%)±<br>| 6.95 | &nbsp;&nbsp; 3-10-2055 | 520000 | &nbsp;&nbsp; 533367 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding Ltd.144A | 2.75 | &nbsp;&nbsp; 2-21-2028 | 815000 | &nbsp;&nbsp; 765955 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding Ltd.144A | 5.75 | &nbsp;&nbsp; 11-15-2029 | 1600000 | &nbsp;&nbsp; 1627377 |
| &nbsp;&nbsp;&nbsp; Unifin Financiera SAB de CV144A | 9.88 | &nbsp;&nbsp; 1-28-2029 | 250000 | &nbsp;&nbsp; 12500 |
|  |  |  |  | &nbsp;&nbsp; **2939199** |
| **Insurance: 0.98%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allianz SE (5 Year Treasury Constant <br> Maturity+2.77%)144A±<br>| 5.60 | &nbsp;&nbsp; 9-3-2054 | 200000 | &nbsp;&nbsp; 195735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allianz SE (5 Year Treasury Constant <br> Maturity+3.23%)144A±<br>| 6.35 | &nbsp;&nbsp; 9-6-2053 | 400000 | &nbsp;&nbsp; 411522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dai-ichi Life Insurance Co. Ltd. (5 Year Treasury Constant <br> Maturity+2.52%)144Aʊ±<br>| 6.20 | &nbsp;&nbsp; 1-16-2035 | 1815000 | &nbsp;&nbsp; 1801521 |
| &nbsp;&nbsp;&nbsp; Intact Financial Corp.144A | 5.46 | &nbsp;&nbsp; 9-22-2032 | 2725000 | &nbsp;&nbsp; 2724069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meiji Yasuda Life Insurance Co. (5 Year Treasury Constant <br> Maturity+2.91%)144A±<br>| 6.10 | &nbsp;&nbsp; 6-11-2055 | 1055000 | &nbsp;&nbsp; 1036126 |
| &nbsp;&nbsp;&nbsp; RenaissanceRe Holdings Ltd. | 5.80 | &nbsp;&nbsp; 4-1-2035 | 2000000 | &nbsp;&nbsp; 2015037 |
|  |  |  |  | &nbsp;&nbsp; **8184010** |
| **Government securities: 0.07%** |  |  |  |  |
| **Multi-national: 0.07%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Banque Ouest Africaine de Developpement144A | 5.00 | &nbsp;&nbsp; 7-27-2027 | 600000 | &nbsp;&nbsp; **586154** |
| **Industrial: 0.02%** |  |  |  |  |
| **Electronics: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Sensata Technologies BV144A | 5.88 | &nbsp;&nbsp; 9-1-2030 | 180000 | &nbsp;&nbsp; **178012** |
| **Engineering & construction: 0.00%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CIMIC Finance USA Pty. Ltd.144A | 7.00 | &nbsp;&nbsp; 3-25-2034 | 10000 | &nbsp;&nbsp; **10473** |
| **Utilities: 1.15%** |  |  |  |  |
| **Electric: 1.15%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Comision Federal de Electricidad144A | 3.35 | &nbsp;&nbsp; 2-9-2031 | 1000000 | &nbsp;&nbsp; 862837 |
| &nbsp;&nbsp;&nbsp; Comision Federal de Electricidad144A | 3.88 | &nbsp;&nbsp; 7-26-2033 | 2300000 | &nbsp;&nbsp; 1910008 |
| &nbsp;&nbsp;&nbsp; Electricite de France SA144A | 5.75 | &nbsp;&nbsp; 1-13-2035 | 3465000 | &nbsp;&nbsp; 3499968 |
| &nbsp;&nbsp;&nbsp; Emera, Inc. Series 16-A (3 Month LIBOR+5.44%)± | 6.75 | &nbsp;&nbsp; 6-15-2076 | 3300000 | &nbsp;&nbsp; 3316210 |
|  |  |  |  | &nbsp;&nbsp; **9589023** |
| **Total yankee corporate bonds and notes (Cost $72,726,688)** |  |  |  | &nbsp;&nbsp; **72233352** |

---

See accompanying notes to portfolio of investments

Allspring Managed Account CoreBuilder® Shares - Series CP \| 21

------

Portfolio of investments—May 31, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Yankee government bonds: 1.60%** |  |  |  |  |
| **Benin: 0.04%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Benin144A | 7.96<br> %<br>| &nbsp;&nbsp; 2-13-2038 | $400000 | &nbsp;&nbsp; **$366716** |
| **Bermuda: 0.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bermuda144A | 3.38 | &nbsp;&nbsp; 8-20-2050 | 800000 | &nbsp;&nbsp; **508376** |
| **Colombia: 0.17%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Colombia | 8.00 | &nbsp;&nbsp; 11-14-2035 | 1400000 | &nbsp;&nbsp; **1399734** |
| **Dominican Republic: 0.17%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dominican Republic144A | 4.88 | &nbsp;&nbsp; 9-23-2032 | 380000 | &nbsp;&nbsp; 346142 |
| &nbsp;&nbsp;&nbsp; Dominican Republic144A | 7.05 | &nbsp;&nbsp; 2-3-2031 | 1000000 | &nbsp;&nbsp; 1036750 |
|  |  |  |  | &nbsp;&nbsp; **1382892** |
| **Israel: 0.17%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Israel | 5.75 | &nbsp;&nbsp; 3-12-2054 | 1650000 | &nbsp;&nbsp; **1463088** |
| **Ivory Coast: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Ivory Coast144A | 8.25 | &nbsp;&nbsp; 1-30-2037 | 1100000 | &nbsp;&nbsp; **1036849** |
| **Mexico: 0.15%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Mexico | 6.35 | &nbsp;&nbsp; 2-9-2035 | 1300000 | &nbsp;&nbsp; **1294982** |
| **Oman: 0.09%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Oman144A | 6.25 | &nbsp;&nbsp; 1-25-2031 | 700000 | &nbsp;&nbsp; **731549** |
| **Panama: 0.63%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Panama | 4.50 | &nbsp;&nbsp; 5-15-2047 | 660000 | &nbsp;&nbsp; 431541 |
| &nbsp;&nbsp;&nbsp; Panama | 4.50 | &nbsp;&nbsp; 1-19-2063 | 5035000 | &nbsp;&nbsp; 3027797 |
| &nbsp;&nbsp;&nbsp; Panama | 6.40 | &nbsp;&nbsp; 2-14-2035 | 1900000 | &nbsp;&nbsp; 1786570 |
|  |  |  |  | &nbsp;&nbsp; **5245908** |
| **Total yankee government bonds (Cost $14,046,827)** |  |  |  | &nbsp;&nbsp; **13430094** |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  | Yield | Shares |  |
| **Short-term investments: 8.15%** |  |  |  |
| **Investment companies: 3.86%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund Select <br> Class♠∞##<br>| 4.23 | 32402767 | &nbsp;&nbsp; **32402767** |

---

See accompanying notes to portfolio of investments

22 \| Allspring Managed Account CoreBuilder® Shares - Series CP

------

Portfolio of investments—May 31, 2025 (unaudited)

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Yield | Maturity <br>date<br>| Principal | Value |
| **U.S. Treasury securities: 4.29%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bills☼ |  | 1.41<br> %<br>| &nbsp;&nbsp; 6-3-2025 | $20000000 | &nbsp;&nbsp; $19997652 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bills☼ |  | 3.97 | &nbsp;&nbsp; 7-3-2025 | 16000000 | &nbsp;&nbsp; 15941885 |
|  |  |  |  |  | &nbsp;&nbsp; **35939537** |
| **Total short-term investments (Cost $68,342,343)** |  |  |  |  | &nbsp;&nbsp; **68342304** |
| **Total investments in securities (Cost $1,004,207,796)** | 119.98<br> %<br>|  |  |  | &nbsp;&nbsp; 1006338689 |
| &nbsp;&nbsp;&nbsp; Other assets and liabilities, net | (19.98)<br>|  |  |  | &nbsp;&nbsp; (167581427)<br>|
| **Total net assets** | **100.00%**<br>|  |  |  | &nbsp;&nbsp; **$838757262** |

---

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

---

| |
|:---|
| The security is purchased on a when-issued basis. |
| The security may be resold in transactions exempt from registration, normally to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of <br> 1933.<br>|
| The coupon of the security is adjusted based on the principal and/or interest payments received from the underlying pool of mortgages as well as the credit quality <br> and the actual prepayment speed of the underlying mortgages. The rate shown is the rate in effect at period end.<br>|
| Variable rate investment. The rate shown is the rate in effect at period end. |
| Security is valued using significant unobservable inputs. |
| The security is fair valued in accordance with procedures approved by Allspring Funds Management, LLC. |
| Non-income-earning security |
| Security is perpetual in nature and has no stated maturity date. The date shown reflects the next call date. |
| ¥A payment-in-kind (PIK) security is a security in which the issuer may make interest or dividend payments in cash or additional securities or a combination of both. <br> The rate shown is the rate in effect at period end.<br>|
| The interest rate is determined and reset by the issuer periodically depending upon the terms of the security. The rate shown is the rate in effect at period end. |
| All or a portion of this security is segregated as collateral for when-issued securities. |
| The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
| The rate represents the 7-day annualized yield at period end. |
| Zero coupon security. The rate represents the current yield to maturity. |

---

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

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| BDC | Business Development Company |
| BRL | Brazilian real |
| COP | Colombian peso |
| EUR | Euro |
| EURIBOR | Euro Interbank Offered Rate |
| FHLB | Federal Home Loan Bank |
| FNMA | Federal National Mortgage Association |
| GBP | Great British pound |
| GNMA | Government National Mortgage Association |
| IDR | Indonesian rupiah |
| LIBOR | London Interbank Offered Rate |
| REIT | Real estate investment trust |
| SOFR | Secured Overnight Financing Rate |
| TVA | Tennessee Valley Authority |
| ZAR | South African rand |

---

See accompanying notes to portfolio of investments

Allspring Managed Account CoreBuilder® Shares - Series CP \| 23

------

Portfolio of investments—May 31, 2025 (unaudited)

**Investments in affiliates**

An affiliated investment is an investment in which the Fund owns at least 5% of the outstanding voting shares of the issuer or as a result of other relationships, such as the Fund and the issuer having the same investment manager. Transactions with issuers that were affiliates of the Fund at the end of the period were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund <br> Select Class<br>| $13123011 | $402264903 | $(382985147)<br>| $0 | $0 | $32402767 | 32402767 | $564103 |

---

**Forward foreign currency contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Currency to be <br>received | Currency to be <br>received | &nbsp;&nbsp;&nbsp; Currency to be <br>delivered | &nbsp;&nbsp;&nbsp; Currency to be <br>delivered | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date<br>| &nbsp;&nbsp; Unrealized <br>gains<br>| &nbsp;&nbsp; Unrealized <br>losses<br>|
| USD | 4620519 | AUD | 7345000 | Morgan Stanley, Inc. | 6-30-2025 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $(115902)<br>|
| AUD | 7345000 | USD | 4423203 | Morgan Stanley, Inc. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 313218 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 11584524 | BRL | 67130000 | Morgan Stanley, Inc. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (78776)<br>|
| USD | 1308992 | BRL | 7500000 | Morgan Stanley, Inc. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 5927 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 54543440 | EUR | 50256000 | Citibank N.A. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (2618637)<br>|
| EUR | 850000 | USD | 920581 | Citibank N.A. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 46224 | &nbsp;&nbsp;&nbsp; 0 |
| EUR | 950000 | USD | 1047332 | Citibank N.A. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 33215 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 1312480 | EUR | 1150000 | Citibank N.A. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 4449 | &nbsp;&nbsp;&nbsp; 0 |
| EUR | 3400000 | USD | 3891317 | Citibank N.A. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (24096)<br>|
| USD | 729058 | EUR | 650000 | Citibank N.A. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (10263)<br>|
| USD | 954929 | EUR | 840000 | Citibank N.A. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (502)<br>|
| USD | 20890581 | GBP | 16174000 | Citibank N.A. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (904208)<br>|
| USD | 2107710 | GBP | 1600000 | Citibank N.A. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (48322)<br>|
| USD | 1483747 | GBP | 1100000 | Citibank N.A. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 1475 | &nbsp;&nbsp;&nbsp; 0 |
| JPY | 554000000 | USD | 3923345 | Citibank N.A. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (61544)<br>|
| USD | 3506274 | ZAR | 64265000 | Morgan Stanley, Inc. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (60365)<br>|
| USD | 606972 | ZAR | 11000000 | Morgan Stanley, Inc. | 6-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (3517)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; **$404508** | &nbsp;&nbsp;&nbsp; **$(3926132)**<br>|

---

**Futures contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp; Notional <br>cost<br>| &nbsp;&nbsp; Notional <br>value<br>| &nbsp;&nbsp; Unrealized <br>gains<br>| &nbsp;&nbsp; Unrealized <br>losses<br>|
| **Long** |  |  |  |  |  |  |
| &nbsp;&nbsp; Ultra Long Term U.S. Treasury Bond | &nbsp;&nbsp; 176 | &nbsp;&nbsp; 9-19-2025 | &nbsp;&nbsp; $20245817 | &nbsp;&nbsp; $20427000 | &nbsp;&nbsp; $181183 | &nbsp;&nbsp; $0 |
| &nbsp;&nbsp; 2-Year U.S. Treasury Notes | &nbsp;&nbsp; 754 | &nbsp;&nbsp; 9-30-2025 | &nbsp;&nbsp; 156261605 | &nbsp;&nbsp; 156407875 | &nbsp;&nbsp; 146270 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; 5-Year U.S. Treasury Notes | &nbsp;&nbsp; 971 | &nbsp;&nbsp; 9-30-2025 | &nbsp;&nbsp; 104755763 | &nbsp;&nbsp; 105050062 | &nbsp;&nbsp; 294299 | &nbsp;&nbsp; 0 |
| **Short** |  |  |  |  |  |  |
| &nbsp;&nbsp; 10-Year Euro BUND Index | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; 6-6-2025 | &nbsp;&nbsp; (149196)<br>| &nbsp;&nbsp; (148982)<br>| &nbsp;&nbsp; 214 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; 2-Year Euro SCHATZ | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; 6-6-2025 | &nbsp;&nbsp; (243165)<br>| &nbsp;&nbsp; (243770)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (605)<br>|
| &nbsp;&nbsp; 5-Year Euro-BOBL Futures | &nbsp;&nbsp; (359)<br>| &nbsp;&nbsp; 6-6-2025 | &nbsp;&nbsp; (48422540)<br>| &nbsp;&nbsp; (48564632)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (142092)<br>|
| &nbsp;&nbsp; Ultra 10-Year U.S. Treasury Notes | &nbsp;&nbsp; (888)<br>| &nbsp;&nbsp; 9-19-2025 | &nbsp;&nbsp; (99766765)<br>| &nbsp;&nbsp; (99941625)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (174860)<br>|
|  |  |  |  |  | &nbsp;&nbsp; **$621966** | &nbsp;&nbsp; **$(317557)**<br>|

---

See accompanying notes to portfolio of investments

24 \| Allspring Managed Account CoreBuilder® Shares - Series CP

------

Notes to portfolio of investments—May 31, 2025 (unaudited)

Notes to portfolio of investments

Securities valuation

All investments are valued each business day as of the close of regular trading on the New York Stock Exchange (generally 4 p.m. Eastern Time), although the Fund may deviate from this calculation time under unusual or unexpected circumstances.

Debt securities are valued at the evaluated bid price provided by an independent pricing service (e.g., taking into account various factors, including yields, maturities, or credit ratings) or, if a reliable price is not available, the quoted bid price from an independent broker-dealer.

Equity securities, exchange-traded funds and futures contracts that are listed on a foreign or domestic exchange or market are valued at the official closing price or, if none, the last sales price.

The values of securities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee at Allspring Funds Management, LLC ("Allspring Funds Management").

Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange and therefore may not fully reflect trading or events that occur after the close of the principal exchange in which the foreign securities are traded, but before the close of the New York Stock Exchange. If such trading or events are expected to materially affect the value of such securities, then fair value pricing procedures implemented by Allspring Funds Management are applied. These procedures take into account multiple factors including movements in U.S. securities markets after foreign exchanges close. Foreign securities that are fair valued under these procedures are categorized as Level 2 and the application of these procedures may result in transfers between Level 1 and Level 2. Depending on market activity, such fair valuations may be frequent. Such fair value pricing may result in net asset values that are higher or lower than net asset values based on the last reported sales price or latest quoted bid price. On May 31, 2025, such fair value pricing was not used in pricing foreign securities.

Forward foreign currency contracts are recorded at the forward rate provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee at Allspring Funds Management.

Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.

Investments which are not valued using the methods discussed above are valued at their fair value, as determined in good faith by Allspring Funds Management, which was named the valuation designee by the Board of Trustees. As the valuation designee, Allspring Funds Management is responsible for day-to-day valuation activities for the Allspring Funds. In connection with these responsibilities, Allspring Funds Management has established a Valuation Committee and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities. On a quarterly basis, the Board of Trustees receives reports of valuation actions taken by the Valuation Committee. On at least an annual basis, the Board of Trustees receives an assessment of the adequacy and effectiveness of Allspring Funds Management's process for determining the fair value of the portfolio of investments.

Foreign currency translation

The accounting records of the Fund are maintained in U.S. dollars. The values of other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee. Purchases and sales of securities, and income and expenses are converted at the rate of exchange on the respective dates of such transactions. Net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the U.S. dollar equivalent of the amounts actually paid or received. Net unrealized foreign exchange gains and losses arise from changes in the fair value of assets and liabilities other than investments in securities resulting from changes in exchange rates. The changes in net assets arising from changes in exchange rates of securities and the changes in net assets resulting from changes in market prices of securities are not separately presented. Such changes are included in net realized and unrealized gains or losses from investments.

When-issued transactions

The Fund may purchase securities on a forward commitment or when-issued basis. The Fund records a when-issued transaction on the trade date and will segregate assets in an amount at least equal in value to the Fund's commitment to purchase when-issued securities. Securities purchased on a when-issued basis are marked-to-market daily and the Fund begins earning interest on the settlement date. Losses may arise due to changes in the market value of the underlying securities or if the counterparty does not perform under the contract.

Loans

The Fund may invest in direct debt instruments which are interests in amounts owed to lenders by corporate or other borrowers. The loans pay interest at rates which are periodically reset by reference to a base lending rate plus a spread. Investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties. When the Fund purchases participations, it generally has no rights to enforce compliance with the terms of the loan agreement with the borrower. As a result, the Fund assumes the credit risk of both the borrower and the lender that is selling the participation. When the Fund purchases assignments from lenders, it acquires direct rights against the borrower on the loan and may enforce

Allspring Managed Account CoreBuilder® Shares - Series CP \| 25

------

Notes to portfolio of investments—May 31, 2025 (unaudited)

compliance by the borrower with the terms of the loan agreement. Loans may include fully funded term loans or unfunded loan commitments, which are contractual obligations for future funding. Unfunded loan commitments represent the remaining obligation of the Fund to the borrower. At any point in time, up to the maturity date of the issue, the borrower may demand the unfunded portion. Unfunded amounts, if any, are marked to market.

Forward foreign currency contracts

A forward foreign currency contract is an agreement between two parties to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund enters into forward foreign currency contracts to facilitate transactions in foreign-denominated securities and to attempt to minimize the risk to the Fund from adverse changes in the relationship between currencies. Forward foreign currency contracts are recorded at the forward rate and marked-to-market daily. When the contracts are closed, realized gains and losses arising from such transactions are recorded as realized gains or losses on forward foreign currency contracts. The Fund is subject to foreign currency risk and may be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. The Fund's maximum risk of loss from counterparty credit risk is the unrealized gains on the contracts. This risk may be mitigated if there is a master netting arrangement between the Fund and the counterparty.

Futures contracts

Futures contracts are agreements between the Fund and a counterparty to buy or sell a specific amount of a commodity, financial instrument or currency at a specified price and on a specified date. The Fund may buy and sell futures contracts in order to gain exposure to, or protect against, changes in interest rates and is subject to interest rate risk. The primary risks associated with the use of futures contracts are the imperfect correlation between changes in market values of securities held by the Fund and the prices of futures contracts, and the possibility of an illiquid market. Futures contracts are generally entered into on a regulated futures exchange and cleared through a clearinghouse associated with the exchange. With futures contracts, there is minimal counterparty risk to the Fund since futures contracts are exchange-traded and the exchange's clearinghouse, as the counterparty to all exchange-traded futures, guarantees the futures contracts against default.

Upon entering into a futures contract, the Fund is required to deposit either cash or securities (initial margin) with the broker in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are paid to or received from the broker each day equal to the daily changes in the contract value. Such payments are recorded as unrealized gains or losses and, if any, shown as variation margin receivable (payable). Should the Fund fail to make requested variation margin payments, the broker can gain access to the initial margin to satisfy the Fund's payment obligations. When the contracts are closed, a realized gain or loss is recorded.

Mortgage dollar roll transactions

The Fund may engage in mortgage dollar roll transactions through To Be Announced (TBA) mortgage-backed securities issued by Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). In a mortgage dollar roll transaction, the Fund sells a mortgage-backed security to a financial institution, such as a bank or broker-dealer and simultaneously agrees to repurchase a substantially similar security from the institution at a later date at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different pre-payment histories. During the roll period, the Fund foregoes principal and interest paid on the securities. The Fund is compensated by the difference between the current sales price and the forward price for the future purchase as well as by the earnings on the cash proceeds of the initial sale. Mortgage dollar rolls may be renewed without physical delivery of the securities subject to the contract. The Fund accounts for TBA dollar roll transactions as purchases and sales which, as a result, may increase its portfolio turnover rate.

Fair valuation measurements

Fair value measurements of investments are determined within a framework that has established a fair value hierarchy based upon the various data inputs utilized in determining the value of the Fund's investments. The three-level hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The Fund's investments are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement. The inputs are summarized into three broad levels as follows:

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

The inputs or methodologies used for valuing investments in securities are not necessarily an indication of the risk associated with investing in those securities.

26 \| Allspring Managed Account CoreBuilder® Shares - Series CP

------

Notes to portfolio of investments—May 31, 2025 (unaudited)

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of May 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Agency securities** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $151486960 | &nbsp;&nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $151486960 |
| **Asset-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 181568924 | &nbsp;&nbsp;&nbsp;&nbsp; 292845 | &nbsp;&nbsp;&nbsp;&nbsp; 181861769 |
| **Common stocks** |  |  |  |  |
| *Financials* | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 139252367 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 139252367 |
| **Foreign corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 53639606 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 53639606 |
| **Foreign government bonds** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 46225264 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 46225264 |
| **Investment companies** | &nbsp;&nbsp; 3355800 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 3355800 |
| **Loans** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 3358166 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 3358166 |
| **Non-agency mortgage-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 82297545 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 82297545 |
| **U.S. Treasury securities** | &nbsp;&nbsp; 190855462 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 190855462 |
| **Yankee corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 72233352 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 72233352 |
| **Yankee government bonds** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 13430094 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 13430094 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 32402767 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 32402767 |
| *U.S. Treasury securities* | &nbsp;&nbsp; 35939537 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 35939537 |
|  | &nbsp;&nbsp; 262553566 | &nbsp;&nbsp;&nbsp;&nbsp; 743492278 | &nbsp;&nbsp;&nbsp;&nbsp; 292845 | &nbsp;&nbsp;&nbsp;&nbsp; 1006338689 |
| **Forward foreign currency contracts** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 404508 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 404508 |
| **Futures contracts** | &nbsp;&nbsp; 621966 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 621966 |
| **Total assets** | &nbsp;&nbsp; **$263175532** | &nbsp;&nbsp;&nbsp; **$743896786** | &nbsp;&nbsp;&nbsp; **$292845** | &nbsp;&nbsp;&nbsp; **$1007365163** |
| **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** |
| **Forward foreign currency contracts** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $3926132 | &nbsp;&nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $3926132 |
| **Futures contracts** | &nbsp;&nbsp; 317557 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 317557 |
| **Total liabilities** | &nbsp;&nbsp; **$317557** | &nbsp;&nbsp;&nbsp; **$3926132** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$4243689** |

---

Futures contracts and forward foreign currency contracts are reported at their cumulative unrealized gains (losses) at measurement date as reported in the tables following the Portfolio of investments. All other assets and liabilities are reported at their market value at measurement date.

Additional sector, industry or geographic detail, if any, is included in the Portfolio of investments.

As of May 31, 2025, $3,038,000 was segregated as cash collateral for these open futures contracts. The Fund also had $3,400,000 segregated as cash collateral for open forward foreign currency contracts.

At May 31, 2025, the Fund had no material transfers into/out of Level 3.

Allspring Managed Account CoreBuilder® Shares - Series CP \| 27

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ALLSPRING FUNDS TRUST

- **b. Investment Company Act file number:** 811-09253

- **c. CIK number of Registrant:** 0001081400

- **d. LEI of Registrant:** 549300XROIY0CTN7RZ24

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

  - **Street Address 1:** 1415 Vantage Park Drive

  - **City:** Charlotte

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 28203

  - **Telephone number:** 833-568-4255

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

- **a. Name of Series:** Allspring Managed Account CoreBuilder Shares Series CP

- **b. EDGAR series identifier (if any):** S000069934

- **c. LEI of Series:** 25490028DXWN8NVCUT26

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $999338129.82

**Total Liabilities:** $161446655.35

**Net Assets:** $837891474.47

**Delayed Delivery Securities:** $8644428.25

**Cash Not Reported:** $6578979.07

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -623.81000000 | **1-Year:** -15478.68000000 | **5-Year:** -48721.01000000 | **10-Year:** -69250.58000000 | **30-Year:** -38833.26000000

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

- **3-Month:** -504.31000000 | **1-Year:** -15268.17000000 | **5-Year:** -34832.45000000 | **10-Year:** -11045.75000000 | **30-Year:** -3426.77000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222758 | -0.25%               | 0.17%                | -0.16%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $95235.29                | $-1268427.53                               |
| Month 2  | $-2907664.60             | $4346328.45                                |
| Month 3  | $-1876557.78             | $-1042066.02                               |

**Designated Index Information**

- **Index Name:** Bloomberg U.S. Aggregate Index

- **Index Identifier:** agg_returns

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| United States Treasury                                                              | U.S. Treasury Notes                                                             | CUSIP: 91282CGQ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     7720000 | PA      | $7736585.96   | 0.92%             | 2030-02-28      | Fixed         | 4.00%                 | No            |                  1 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                                                            | Outfront Media Capital LLC / Outfront Media Capital Corp                        | CUSIP: 69007TAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      310000 | PA      | $290828.17    | 0.03%             | 2030-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| MARS INC                                                                            | Mars Inc                                                                        | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     2875000 | PA      | $2864215.76   | 0.34%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                      | Morgan Stanley                                                                  | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |        5000 | PA      | $4178.44      | 0.00%             | 2036-09-16      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                                                       | Boeing Co/The                                                                   | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     1635000 | PA      | $1743742.02   | 0.21%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust                                                            | Octane Receivables Trust 2023-1                                                 | CUSIP: 67571BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       15605 | PA      | $15641.47     | 0.00%             | 2029-05-21      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                                                   | EURO-BUND FUTURE JUN25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |          -1 | NC      | $214.15       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BRASKEM NETHERLANDS                                                                 | Braskem Netherlands Finance BV                                                  | CUSIP: 10554TAG0<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |      800000 | PA      | $696050.00    | 0.08%             | 2033-02-13      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                            | Angel Oak Mortgage Trust 2020-R1                                                | CUSIP: 034651AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      659219 | PA      | $625125.40    | 0.07%             | 2053-04-25      | Variable      | 0.99%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                                                         | FIGRE Trust 2024-HE2                                                            | CUSIP: 316927AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1578581 | PA      | $1609762.71   | 0.19%             | 2054-05-25      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| Transurban Finance Co. Pty. Ltd.                                                    | Transurban Finance Co. Pty. Ltd.                                                | CUSIP: 000000000<br>LEI: 54930081LPJMUMEA6E57 | Long             | DBT              | CORP              | AU        |      650000 | PA      | $771166.08    | 0.09%             | 2033-04-26      | Fixed         | 4.23%                 | Yes           |                  2 | On Loan: No      |
| UMBS, TBA                                                                           | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F052664<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    49175000 | PA      | $48678897.52  | 5.81%             | 2054-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Frontier Issuer LLC                                                                 | Frontier Issuer LLC                                                             | CUSIP: 35910EAK0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1000000 | PA      | $1025823.50   | 0.12%             | 2054-06-20      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| RAIFFEISEN BANK INTL                                                                | Raiffeisen Bank International AG                                                | CUSIP: 000000000<br>LEI: 9ZHRYM6F437SQJ6OUG95 | Long             | DBT              | CORP              | AT        |      300000 | PA      | $365470.05    | 0.04%             | 2032-12-20      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                                                                | Glencore Funding LLC                                                            | CUSIP: 378272BH0<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |       80000 | PA      | $51124.91     | 0.01%             | 2051-09-23      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                                              | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822DL5<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |      725000 | PA      | $736394.22    | 0.09%             | 2036-04-24      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                                                             | Macy's Retail Holdings LLC                                                      | CUSIP: 55617LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1130000 | PA      | $1078446.80   | 0.13%             | 2030-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| EUSHI FINANCE INC                                                                   | EUSHI Finance Inc                                                               | CUSIP: 29882DAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1630000 | PA      | $1666480.82   | 0.20%             | 2054-12-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                                                       | LGI Homes Inc                                                                   | CUSIP: 50187TAH9<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |      130000 | PA      | $133789.11    | 0.02%             | 2028-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| OMEGA HLTHCARE INVESTORS                                                            | Omega Healthcare Investors Inc                                                  | CUSIP: 681936BL3<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | DBT              |  | US        |       25000 | PA      | $23522.43     | 0.00%             | 2029-10-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                                                              | BP Capital Markets PLC                                                          | CUSIP: 05565QDV7<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |      355000 | PA      | $340710.01    | 0.04%             | 2030-03-22      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LORCA TELECOM BONDCO                                                                | Lorca Telecom Bondco SA                                                         | CUSIP: 000000000<br>LEI: 9598004HFBAS82YM7X35 | Long             | DBT              | CORP              | ES        |      900000 | PA      | $1021905.10   | 0.12%             | 2027-09-18      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                                             | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                    | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1595000 | PA      | $1528306.99   | 0.18%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                                        | Barclays PLC                                                                    | CUSIP: 06738ECZ6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |     1750000 | PA      | $1753840.31   | 0.21%             | 2036-02-25      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                                                                 | Kinetik Holdings LP                                                             | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |      270000 | PA      | $268395.55    | 0.03%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                                                       | Lendbuzz Securitization Trust 2024-3                                            | CUSIP: 52609YAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1881947 | PA      | $1882017.38   | 0.22%             | 2029-10-15      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| BANQUE OUEST AFRICAINE D                                                            | Banque Ouest Africaine de Developpement                                         | CUSIP: 000000000<br>LEI: 529900LIZJABE4JJS826 | Long             | DBT              | NUSS              | XX        |     1570000 | PA      | $1500897.10   | 0.18%             | 2033-01-22      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| ACREC LLC                                                                           | Acrec 2025 Fl 3 LLC                                                             | CUSIP: 00112HAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     1000000 | PA      | $994281.62    | 0.12%             | 2042-08-18      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | Ginnie Mae                                                                      | CUSIP: 21H022663<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     1030000 | PA      | $862732.66    | 0.10%             | 2054-06-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BORR IHC LTD / BORR FIN                                                             | Borr IHC Ltd / Borr Finance LLC                                                 | CUSIP: 100018AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      177683 | PA      | $153383.01    | 0.02%             | 2028-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                              | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3290000 | PA      | $2840036.57   | 0.34%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                                                        | Comcast Corp                                                                    | CUSIP: 20030NEP2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |      610000 | PA      | $611254.89    | 0.07%             | 2035-05-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                                                  | Dominican Republic International Bond                                           | CUSIP: 25714PEF1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |      380000 | PA      | $346142.00    | 0.04%             | 2032-09-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Bonds                                                             | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |       30000 | PA      | $29282.81     | 0.00%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  1 | On Loan: No      |
| LYB INT FINANCE III                                                                 | LYB International Finance III LLC                                               | CUSIP: 50249AAP8<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |     1010000 | PA      | $1025687.90   | 0.12%             | 2035-05-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                                     | BRAVO Residential Funding Trust 2024-NQM1                                       | CUSIP: 10570FAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4817268 | PA      | $4830978.45   | 0.58%             | 2063-12-01      | Variable      | 5.94%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                                                  | Credit Agricole SA                                                              | CUSIP: 000000000<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |      200000 | PA      | $242600.27    | 0.03%             | 2028-09-23      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust                                        | American Credit Acceptance Receivables Trust 2024-4                             | CUSIP: 024945AC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     3600000 | PA      | $3597355.80   | 0.43%             | 2028-11-13      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                                                         | FIGRE Trust 2025-HE1                                                            | CUSIP: 30191LAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5069768 | PA      | $5116291.75   | 0.61%             | 2055-01-25      | Variable      | 5.83%                 | No            |                  2 | On Loan: No      |
| FORVIA SE                                                                           | Forvia SE                                                                       | CUSIP: 000000000<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |      500000 | PA      | $578686.69    | 0.07%             | 2026-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                                                   | NatWest Group PLC                                                               | CUSIP: 639057AV0<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |     2850000 | PA      | $2861075.39   | 0.34%             | 2031-05-23      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENT/SIX FLAG                                                              | Six Flags Entertainment Corp /Six Flags Theme Parks Inc/ Canada's Wonderland Co | CUSIP: 83002YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      170000 | PA      | $173316.19    | 0.02%             | 2032-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ALLIANZ SE                                                                          | Allianz SE                                                                      | CUSIP: 018820AD2<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |      200000 | PA      | $195735.18    | 0.02%             | 2054-09-03      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | Ginnie Mae                                                                      | CUSIP: 21H060663<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    15585000 | PA      | $15733576.32  | 1.88%             | 2054-06-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Gracie Point International Funding                                                  | GRACIE POINT INTERNATIONAL FUNDING 2023-1                                       | CUSIP: 383931AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      275000 | PA      | $274997.25    | 0.03%             | 2026-09-01      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| NUCOR CORP                                                                          | Nucor Corp                                                                      | CUSIP: 670346BA2<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | DBT              | CORP              | US        |     1100000 | PA      | $1079674.84   | 0.13%             | 2035-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                                | Bank of America Corp                                                            | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      745000 | PA      | $756806.76    | 0.09%             | 2030-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| VISTA MANAGEMENT HOLDING INC                                                        | Vista Management Holding Inc 2025 Term Loan B                                   | CUSIP: 92842EAB4<br>LEI: 5299005VABKD28UWHI65 | Long             | LON              | CORP              | US        |       60000 | PA      | $59950.20     | 0.01%             | 2031-04-01      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                                         | BBCMS Mortgage Trust 2024-5C25                                                  | CUSIP: 05554VAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      795000 | PA      | $824388.53    | 0.10%             | 2057-03-15      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                                                | Las Vegas Sands Corp                                                            | CUSIP: 517834AN7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |     1625000 | PA      | $1642608.21   | 0.20%             | 2030-06-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                                             | United Rentals North America Inc                                                | CUSIP: 911363AM1<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |      120000 | PA      | $110722.93    | 0.01%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| KOHL'S CORPORATION                                                                  | Kohl's Corp                                                                     | CUSIP: 500255AX2<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |      745000 | PA      | $473874.56    | 0.06%             | 2031-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Hipgnosis Music Assets LP                                                           | Hipgnosis Music Assets 2022-1 LP                                                | CUSIP: 43351RAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     4150044 | PA      | $4077479.30   | 0.49%             | 2062-05-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cologix Data Centers Issuer LLC                                                     | Cologix Data Centers US Issuer LLC                                              | CUSIP: 19521UAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1350000 | PA      | $1287109.04   | 0.15%             | 2051-12-26      | Fixed         | 3.79%                 | No            |                  2 | On Loan: No      |
| MCR Mortgage Trust                                                                  | MCR 2024-HF1 Mortgage Trust                                                     | CUSIP: 55287FAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1695000 | PA      | $1695000.00   | 0.20%             | 2041-12-15      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2020-1 B PTT                                                             | United Airlines 2020-1 Class B Pass Through Trust                               | CUSIP: 90932VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       51518 | PA      | $51266.73     | 0.01%             | 2026-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Achieve Mortgage                                                                    | ACHM Trust 2025-HE1                                                             | CUSIP: 00449SAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      354173 | PA      | $356134.36    | 0.04%             | 2055-03-25      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| GENESEE & WYOMING INC                                                               | Genesee & Wyoming Inc                                                           | CUSIP: 371559AB1<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | DBT              | CORP              | US        |      195000 | PA      | $198042.20    | 0.02%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ECI ACQUIROR LP                                                             | Prairie ECI Acquiror LP 2024 Term Loan B                                        | CUSIP: 73955HAE4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | LON              | CORP              | US        |       99002 | PA      | $99312.38     | 0.01%             | 2029-08-01      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                                                   | PRPM 2024-NQM3                                                                  | CUSIP: 69381FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2697066 | PA      | $2680160.35   | 0.32%             | 2069-08-25      | Variable      | 5.23%                 | No            |                  2 | On Loan: No      |
| DANAHER CORP                                                                        | Danaher Corp                                                                    | CUSIP: 235851AU6<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | DBT              | CORP              | US        |      600000 | PA      | $672131.51    | 0.08%             | 2030-03-30      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| REPSOL INTL FINANCE                                                                 | Repsol International Finance BV                                                 | CUSIP: 000000000<br>LEI: 5493002YCY6HTK0OUR29 | Long             | DBT              | CORP              | NL        |      550000 | PA      | $612969.34    | 0.07%             | 2026-12-22      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                                            | Rogers Communications Inc                                                       | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |      390000 | PA      | $390565.62    | 0.05%             | 2055-04-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| TUI CRUISES GMBH                                                                    | TUI Cruises GmbH                                                                | CUSIP: 000000000<br>LEI: 529900SVD83QUUIZYY18 | Long             | DBT              | CORP              | DE        |      729000 | PA      | $832106.06    | 0.10%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                                                          | DaVita Inc                                                                      | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |      980000 | PA      | $995525.09    | 0.12%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CHNGE Mortgage Trust 2022-2                                                         | CHNGE Mortgage Trust 2022-2                                                     | CUSIP: 12546YAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      912845 | PA      | $882086.52    | 0.11%             | 2067-03-25      | Variable      | 3.76%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                                  | Energy Transfer LP                                                              | CUSIP: 29273VAX8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      740000 | PA      | $775659.86    | 0.09%             | 2054-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                                 | New Residential Mortgage Loan Trust 2022-NQM1                                   | CUSIP: 64830JAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      350470 | PA      | $306835.14    | 0.04%             | 2061-04-25      | Variable      | 2.28%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Notes                                                             | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     3745000 | PA      | $3702868.75   | 0.44%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  1 | On Loan: No      |
| Angel Oak Mortgage Trust                                                            | Angel Oak Mortgage Trust 2024-10                                                | CUSIP: 034933AA9<br>LEI: 254900QN92XYN8GJBJ44 | Long             | ABS-MBS          | CORP              | US        |     3883816 | PA      | $3866134.08   | 0.46%             | 2069-10-25      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| MODIVCARE INC                                                                       | Modivcare Inc 2024 Term Loan B                                                  | CUSIP: 60783LAC4<br>LEI: 549300EFZIFW7F7I0Q28 | Long             | LON              | CORP              | US        |      403977 | PA      | $271113.09    | 0.03%             | 2031-07-01      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                                              | Santander Holdings USA Inc                                                      | CUSIP: 80282KBM7<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |      120000 | PA      | $120643.28    | 0.01%             | 2030-09-06      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                                                        | Entegris Inc                                                                    | CUSIP: 29365BAB9<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |      245000 | PA      | $245134.51    | 0.03%             | 2030-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BX Trust 2019-OC11                                                                  | BX Trust 2019-OC11                                                              | CUSIP: 05606FAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      250000 | PA      | $231268.55    | 0.03%             | 2041-12-09      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| WINTERSHALL DEA FIN 2BV                                                             | Wintershall Dea Finance 2 BV                                                    | CUSIP: 000000000<br>LEI: 529900DV88FUQZSVVL48 | Long             | DBT              | CORP              | NL        |      800000 | PA      | $841214.11    | 0.10%             | 2028-07-20      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| APA CORP                                                                            | APA Corp                                                                        | CUSIP: 03743QAN8<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |       60000 | PA      | $46003.19     | 0.01%             | 2049-07-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                                                              | WESCO Distribution Inc                                                          | CUSIP: 95081QAR5<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |      345000 | PA      | $353186.91    | 0.04%             | 2032-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE BANK SA                                                                  | John Deere Bank SA                                                              | CUSIP: 000000000<br>LEI: RUOKPID0PZ0UWJYU9J61 | Long             | DBT              | CORP              | LU        |      500000 | PA      | $568904.79    | 0.07%             | 2026-09-14      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| SOUTHWESTERN PUBLIC SERV                                                            | Southwestern Public Service Co                                                  | CUSIP: 845743BX0<br>LEI: OL6FE7QD5EQ3DOYEO258 | Long             | DBT              | CORP              | US        |      500000 | PA      | $489918.19    | 0.06%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY INDIANA LLC                                                             | Duke Energy Indiana LLC                                                         | CUSIP: 26443TAD8<br>LEI: 6URPHM2EAWGJ2C6ISB97 | Long             | DBT              | CORP              | US        |      400000 | PA      | $369069.15    | 0.04%             | 2053-04-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Blue Bridge Funding LLC                                                             | Blue Bridge Funding 2023-1 LLC                                                  | CUSIP: 09531MAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      100000 | PA      | $101558.65    | 0.01%             | 2030-11-15      | Fixed         | 9.48%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                                                                | Saudi Arabian Oil Co                                                            | CUSIP: 80414L3F0<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |     2000000 | PA      | $1960000.00   | 0.23%             | 2055-06-02      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2023-1 A PTT                                                             | United Airlines 2023-1 Class A Pass Through Trust                               | CUSIP: 90932LAJ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       95531 | PA      | $95624.58     | 0.01%             | 2036-01-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                                                    | Deutsche Bank AG                                                                | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |      500000 | PA      | $604855.41    | 0.07%             | 2030-09-05      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Bonds                                                             | CUSIP: 912810TV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      580000 | PA      | $562826.56    | 0.07%             | 2053-11-15      | Fixed         | 4.75%                 | No            |                  1 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                                               | Quikrete Holdings Inc                                                           | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |     1125000 | PA      | $1143176.63   | 0.14%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| DI Issuer LLC                                                                       | DI Issuer LLC                                                                   | CUSIP: 23292FAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1000000 | PA      | $990555.20    | 0.12%             | 2054-09-15      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                                                                | Enel Finance International NV                                                   | CUSIP: 000000000<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |     1000000 | PA      | $1017847.55   | 0.12%             | 2030-06-17      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| BANCO NACIONAL COM EXT                                                              | Banco Nacional de Comercio Exterior SNC/Cayman Islands                          | CUSIP: 05973JAA8<br>LEI: 4469000001BL6VG3DH44 | Long             | DBT              | CORP              | MX        |     1200000 | PA      | $1127909.76   | 0.13%             | 2031-08-11      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                                                            | Banco Mercantil del Norte SA/Grand Cayman                                       | CUSIP: 05973KAA5<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |     1200000 | PA      | $1171834.32   | 0.14%             | 2027-01-24      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TierPoint Issuer LLC                                                                | TierPoint Issuer LLC                                                            | CUSIP: 88651CAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     4000000 | PA      | $4028126.00   | 0.48%             | 2055-04-26      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                                                    | Duke Energy Corp                                                                | CUSIP: 000000000<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |      600000 | PA      | $685958.57    | 0.08%             | 2028-06-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Cogent IPv4 LLC                                                                     | Cogent Ipv4 LLC                                                                 | CUSIP: 19240JAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2320000 | PA      | $2422447.95   | 0.29%             | 2054-05-25      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| EPR PROPERTIES                                                                      | EPR Properties                                                                  | CUSIP: 26884UAF6<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              |  | US        |       45000 | PA      | $42418.17     | 0.01%             | 2029-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| WENDYS FUNDING LLC                                                                  | Wendy's Funding LLC                                                             | CUSIP: 95058XAL2<br>LEI: 5493009DRVSTWJOXUL48 | Long             | ABS-O            | CORP              | US        |     3122333 | PA      | $2728804.91   | 0.33%             | 2051-06-15      | Fixed         | 2.78%                 | No            |                  2 | On Loan: No      |
| Neighborly Issuer LLC                                                               | Neighborly Issuer LLC                                                           | CUSIP: 64016NAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       72000 | PA      | $66840.62     | 0.01%             | 2051-04-30      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                            | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      590000 | PA      | $614190.67    | 0.07%             | 2029-06-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                                                           | PG&E Corp                                                                       | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |      220000 | PA      | $213457.53    | 0.03%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Jimmy John's Funding LLC                                                            | Jimmy Johns Funding LLC                                                         | CUSIP: 47760QAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      160188 | PA      | $157291.47    | 0.02%             | 2047-07-30      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                              | US ULTRA BOND CBT SEP25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         176 | NC      | $181183.20    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust                                         | MF1 2022-FL8 Ltd                                                                | CUSIP: 55284JAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      250000 | PA      | $244312.43    | 0.03%             | 2037-02-19      | Floating      | 6.52%                 | No            |                  2 | On Loan: No      |
| COLOMBIA TELECOMUNICACIO                                                            | Colombia Telecomunicaciones SA ESP                                              | CUSIP: 19533PAC4<br>LEI: 549300CK4YN0V1C3MN55 | Long             | DBT              | CORP              | CO        |      525000 | PA      | $460712.75    | 0.05%             | 2030-07-17      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| EquipmentShare                                                                      | Crockett Partners Equipment Co IIA LLC                                          | CUSIP: 22689LAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1866667 | PA      | $1887548.54   | 0.23%             | 2031-01-20      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| BROOKLYN UNION GAS CO                                                               | Brooklyn Union Gas Co/The                                                       | CUSIP: 114259AX2<br>LEI: 83BQ1DXS6VA5GZFK8S35 | Long             | DBT              | CORP              | US        |       25000 | PA      | $26117.84     | 0.00%             | 2033-09-15      | Fixed         | 6.39%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                                                      | Sabre GLBL Inc                                                                  | CUSIP: 78573NAL6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     1912000 | PA      | $1950240.00   | 0.23%             | 2029-11-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                                        | Barclays PLC                                                                    | CUSIP: 06738ECY9<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |     2255000 | PA      | $2274503.00   | 0.27%             | 2031-02-25      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | Ginnie Mae                                                                      | CUSIP: 21H020667<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      455000 | PA      | $365397.55    | 0.04%             | 2054-06-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust                                                                  | A&D Mortgage Trust 2024-NQM4                                                    | CUSIP: 002939AC0<br>LEI: 98450000E04EA82B8915 | Long             | ABS-MBS          | CORP              | US        |     2024632 | PA      | $2022864.04   | 0.24%             | 2069-08-25      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| ALLSPRING GOVERNMENT MONEY MAR                                                      | ALLSPRING GOVERNMENT MONEY MAR                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    32402767 | NS      | $32402767.07  | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                            | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       60000 | PA      | $36979.68     | 0.00%             | 2061-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Universal Music Group NV                                                            | Universal Music Group NV                                                        | CUSIP: 000000000<br>LEI: 724500GJBUL3D9TW9Y18 | Long             | DBT              | CORP              | NL        |      250000 | PA      | $295948.95    | 0.04%             | 2031-06-13      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                           | Towd Point Mortgage Trust 2023-CES1                                             | CUSIP: 89181XAM3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      837404 | PA      | $843686.80    | 0.10%             | 2063-07-25      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                           | Towd Point Mortgage Trust 2020-4                                                | CUSIP: 89179JAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      350000 | PA      | $281042.48    | 0.03%             | 2060-10-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                                                  | Dominican Republic International Bond                                           | CUSIP: 25714PET1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     1000000 | PA      | $1036750.00   | 0.12%             | 2031-02-03      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| JACKSON FINANCIAL INC                                                               | Jackson Financial Inc                                                           | CUSIP: 46817MAN7<br>LEI: 213800WXW2KG1N4CO374 | Long             | DBT              | CORP              | US        |     1500000 | PA      | $990268.97    | 0.12%             | 2051-11-23      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                            | BX Trust 2021-ARIA                                                              | CUSIP: 05608RAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4560000 | PA      | $4528650.00   | 0.54%             | 2036-10-15      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| AKER BP ASA                                                                         | Aker BP ASA                                                                     | CUSIP: 00973RAN3<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |      965000 | PA      | $905071.69    | 0.11%             | 2034-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                                                        | Comcast Corp                                                                    | CUSIP: 20030NEQ0<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |      775000 | PA      | $773433.53    | 0.09%             | 2055-05-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| HASBRO INC                                                                          | Hasbro Inc                                                                      | CUSIP: 418056BA4<br>LEI: 549300NUB6D2R1ITYR45 | Long             | DBT              | CORP              | US        |      460000 | PA      | $466151.90    | 0.06%             | 2034-05-14      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER HLDGS CORP                                                             | Schlumberger Holdings Corp                                                      | CUSIP: 806851AP6<br>LEI: 529900IKZG65COT1D505 | Long             | DBT              | CORP              | US        |      905000 | PA      | $874191.23    | 0.10%             | 2033-05-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                                                                       | Aircastle Ltd                                                                   | CUSIP: 00928QAY7<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |       40000 | PA      | $41036.49     | 0.00%             | 2029-02-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds                                             | Colombia Government International Bonds                                         | CUSIP: 195325EL5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     1400000 | PA      | $1399734.00   | 0.17%             | 2035-11-14      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MEIJI YASUDA LIFE INSURA                                                            | MEIJI YASUDA LIFE INSURA                                                        | CUSIP: 585270AE1<br>LEI: 549300SLU4LP6YMRLK07 | Long             | DBT              | CORP              | JP        |     1055000 | PA      | $1036125.73   | 0.12%             | 2055-06-11      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| AXA SA                                                                              | AXA SA                                                                          | CUSIP: 000000000<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | DBT              | CORP              | FR        |     1000000 | PA      | $1180789.48   | 0.14%             | 2033-01-10      | Fixed         | 3.63%                 | Yes           |                  2 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC                                                              | Group 1 Automotive Inc                                                          | CUSIP: 398905AQ2<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |      440000 | PA      | $448092.04    | 0.05%             | 2030-01-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Taco Bell Funding, LLC                                                              | Taco Bell Funding LLC                                                           | CUSIP: 87342RAJ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      505988 | PA      | $432094.05    | 0.05%             | 2051-08-25      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                                               | Tenet Healthcare Corp                                                           | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |      190000 | PA      | $195709.88    | 0.02%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                                          | US Bancorp                                                                      | CUSIP: 91159HJL5<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     3500000 | PA      | $3394505.24   | 0.41%             | 2034-02-01      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Tele2 AB                                                                            | Tele2 AB                                                                        | CUSIP: 000000000<br>LEI: 213800EKD193RVI9HL76 | Long             | DBT              | CORP              | SE        |     1000000 | PA      | $1010503.53   | 0.12%             | 2031-03-23      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| PRKCM Trust                                                                         | PRKCM 2022-AFC1 Trust                                                           | CUSIP: 69377CAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1360154 | PA      | $1338886.83   | 0.16%             | 2057-04-25      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                                            | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBE2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     1375000 | PA      | $891354.92    | 0.11%             | 2052-03-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Service Experts Issuer                                                              | Service Experts Issuer 2021-1 LLC                                               | CUSIP: 81758VAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      330000 | PA      | $311078.06    | 0.04%             | 2032-02-02      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                                                   | PRPM 2024-2 LLC                                                                 | CUSIP: 74448BAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      403253 | PA      | $403315.92    | 0.05%             | 2029-03-25      | Variable      | 7.03%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                                                               | Micron Technology Inc                                                           | CUSIP: 595112CH4<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |     2280000 | PA      | $2324947.28   | 0.28%             | 2035-11-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| METLIFE INC                                                                         | MetLife Inc                                                                     | CUSIP: 59156RCA4<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |      750000 | PA      | $743294.40    | 0.09%             | 2025-09-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Koninklijke KPN NV                                                                  | Koninklijke KPN NV                                                              | CUSIP: 000000000<br>LEI: 549300YO0JZHAL7FVP81 | Long             | DBT              | CORP              | NL        |      400000 | PA      | $473396.04    | 0.06%             | 2031-07-03      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| BANQUE OUEST AFRICAINE D                                                            | Banque Ouest Africaine de Developpement                                         | CUSIP: 06675QAB9<br>LEI: 529900LIZJABE4JJS826 | Long             | DBT              | NUSS              | XX        |      600000 | PA      | $586153.72    | 0.07%             | 2027-07-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                          | Verus Securitization Trust 2021-R3                                              | CUSIP: 92538EAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       51162 | PA      | $48121.89     | 0.01%             | 2064-04-25      | Variable      | 1.28%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                                                         | Ivory Coast Government International Bond                                       | CUSIP: 221625AU0<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     1100000 | PA      | $1036849.00   | 0.12%             | 2037-01-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                                                          | Affirm Asset Securitization Trust 2024-B                                        | CUSIP: 00835AAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2000000 | PA      | $1996297.60   | 0.24%             | 2029-09-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust                                         | MF1 2022-FL8 Ltd                                                                | CUSIP: 55284JAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      418954 | PA      | $418676.48    | 0.05%             | 2037-02-19      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                                                            | PetSmart Inc / PetSmart Finance Corp                                            | CUSIP: 71677KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      710000 | PA      | $685200.77    | 0.08%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S                                                                     | Danske Bank A/S                                                                 | CUSIP: 23636ABC4<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |     1250000 | PA      | $1240680.43   | 0.15%             | 2028-04-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Bonds                                                             | CUSIP: 912810UF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      470000 | PA      | $451420.31    | 0.05%             | 2044-11-15      | Fixed         | 4.63%                 | No            |                  1 | On Loan: No      |
| The BAHA Trust                                                                      | BAHA Trust 2024-MAR                                                             | CUSIP: 05493XAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2240000 | PA      | $2281447.39   | 0.27%             | 2041-12-10      | Variable      | 6.84%                 | No            |                  2 | On Loan: No      |
| Bojangles Issuer, LLC                                                               | Bojangles Issuer LLC                                                            | CUSIP: 09748RAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     5500000 | PA      | $5543029.80   | 0.66%             | 2054-11-20      | Fixed         | 6.58%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                                                             | Sensata Technologies BV                                                         | CUSIP: 81725WAL7<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |      180000 | PA      | $178012.30    | 0.02%             | 2030-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                                                 | PURCHASED USD / SOLD AUD                                                        | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |           1 | NC      | $-115901.77   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                                | FREMF 2019-KF70 Mortgage Trust                                                  | CUSIP: 30298UAG6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       65831 | PA      | $61983.92     | 0.01%             | 2029-09-25      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| GATX CORP                                                                           | GATX Corp                                                                       | CUSIP: 361448BR3<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |      635000 | PA      | $618108.68    | 0.07%             | 2054-06-05      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Bills                                                             | CUSIP: 912797PL5<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    20000000 | PA      | $19997651.60  | 2.39%             | 2025-06-03      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| PG&E CORP                                                                           | PG&E Corp                                                                       | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |     2680000 | PA      | $2624296.47   | 0.31%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| NOVA ALEXANDRE III SAS                                                              | Nova Alexandre III SAS                                                          | CUSIP: 000000000<br>LEI: 969500J0AKOB1UHO6I65 | Long             | DBT              | CORP              | FR        |      750000 | PA      | $863566.52    | 0.10%             | 2029-07-15      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| OEG FINANCE PLC                                                                     | OEG Finance PLC                                                                 | CUSIP: 000000000<br>LEI: 254900KMBHWF9UK63G44 | Long             | DBT              | CORP              | GB        |      900000 | PA      | $1046531.42   | 0.12%             | 2029-09-27      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                                              | Cloud Software Group Inc                                                        | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |     1590000 | PA      | $1671840.48   | 0.20%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Hawaii Hotel Trust                                                                  | Hawaii Hotel Trust 2025-MAUI                                                    | CUSIP: 419909AC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3700000 | PA      | $3681508.14   | 0.44%             | 2042-03-15      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| NORTHWESTERN MUTUAL LIFE                                                            | Northwestern Mutual Life Insurance Co/The                                       | CUSIP: 668138AF7<br>LEI: 1DU7IM20QESYGDO4HO54 | Long             | DBT              | CORP              | US        |     1200000 | PA      | $1234286.50   | 0.15%             | 2055-05-29      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2024-1 A PTT                                                             | United Airlines 2024-1 Class A Pass Through Trust                               | CUSIP: 90932WAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      495649 | PA      | $484942.54    | 0.06%             | 2037-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                                                        | AES Corp/The                                                                    | CUSIP: 00130HCK9<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |      190000 | PA      | $191503.28    | 0.02%             | 2055-01-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| OMNIS FUNDING TRUST                                                                 | Omnis Funding Trust                                                             | CUSIP: 68218WAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1235000 | PA      | $1242618.85   | 0.15%             | 2055-05-15      | Fixed         | 6.72%                 | No            |                  2 | On Loan: No      |
| Ajax Mortgage Loan Trust                                                            | Ajax Mortgage Loan Trust 2021-E                                                 | CUSIP: 009740AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1799829 | PA      | $1567782.69   | 0.19%             | 2060-12-25      | Variable      | 1.74%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                                       | TransDigm Inc                                                                   | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |      220000 | PA      | $224731.10    | 0.03%             | 2032-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS                                                              | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX    | CUSIP: 05533UAG3<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |      700000 | PA      | $672771.75    | 0.08%             | 2034-09-13      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds                                               | Panama Government International Bonds                                           | CUSIP: 698299BS2<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |     5035000 | PA      | $3027797.25   | 0.36%             | 2063-01-19      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                                               | Foundry JV Holdco LLC                                                           | CUSIP: 350930AJ2<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |     1485000 | PA      | $1517665.35   | 0.18%             | 2037-01-25      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Uniti Fiber ABS Issuer LLC                                                          | Uniti Fiber Abs Issuer Llc                                                      | CUSIP: 91326EAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     5395000 | PA      | $5478538.88   | 0.65%             | 2055-04-20      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TRANSATLANTIC HOLDINGS                                                              | Transatlantic Holdings Inc                                                      | CUSIP: 893521AB0<br>LEI: RN37QJVS1BV19MNIC295 | Long             | DBT              | CORP              | US        |      443000 | PA      | $536414.27    | 0.06%             | 2039-11-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PRA GROUP INC                                                                       | PRA Group Inc                                                                   | CUSIP: 69354NAD8<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |      510000 | PA      | $457498.05    | 0.05%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                                                            | United Wholesale Mortgage LLC                                                   | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |      215000 | PA      | $205820.27    | 0.02%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                                                             | VZ Secured Financing BV                                                         | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |      400000 | PA      | $345774.80    | 0.04%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | Ginnie Mae                                                                      | CUSIP: 21H052660<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    13620000 | PA      | $13521574.12  | 1.61%             | 2054-06-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                           | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F040461<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      265000 | PA      | $256488.96    | 0.03%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                                         | BNP Paribas SA                                                                  | CUSIP: 09659T2D2<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |      200000 | PA      | $198850.22    | 0.02%             | 2035-11-19      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS                                                            | Brandywine Operating Partnership LP                                             | CUSIP: 105340AR4<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              |  | US        |     1555000 | PA      | $1630268.22   | 0.19%             | 2028-03-15      | Fixed         | 8.30%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                                         | BNP Paribas SA                                                                  | CUSIP: 05602XDJ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |      200000 | PA      | $209134.40    | 0.02%             | 2031-08-22      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                                         | RCKT Mortgage Trust 2024-CES2                                                   | CUSIP: 74938PAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      477661 | PA      | $480580.19    | 0.06%             | 2044-04-25      | Variable      | 6.14%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                                            | Republic of South Africa Government Bond                                        | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    75775000 | PA      | $4103834.73   | 0.49%             | 2030-01-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Blue Bridge Funding LLC                                                             | Blue Bridge Funding 2023-1 LLC                                                  | CUSIP: 09531MAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       41714 | PA      | $42086.25     | 0.01%             | 2030-11-15      | Fixed         | 7.37%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                                                              | Spirit AeroSystems Inc                                                          | CUSIP: 85205TAR1<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |     1590000 | PA      | $1755781.19   | 0.21%             | 2030-11-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                          | Verus Securitization Trust 2024-9                                               | CUSIP: 92540RAF1<br>LEI: 213800LFRCPWSTP6LX39 | Long             | ABS-MBS          | CORP              | US        |     5000000 | PA      | $4975405.50   | 0.59%             | 2069-11-25      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| BAWAG GROUP AG                                                                      | BAWAG Group AG                                                                  | CUSIP: 000000000<br>LEI: 529900S9YO2JHTIIDG38 | Long             | DBT              | CORP              | AT        |     1000000 | PA      | $1169683.94   | 0.14%             | 2029-09-18      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ESSENTIAL PROPER                                                                    | Essential Properties LP                                                         | CUSIP: 29670VAA7<br>LEI: 254900XX9FNFCDE1NX02 | Long             | DBT              |  | US        |       62000 | PA      | $54238.28     | 0.01%             | 2031-07-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITE                                                            | Perrigo Finance Unlimited Co                                                    | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |      205000 | PA      | $204637.31    | 0.02%             | 2032-09-30      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                                                                          | Mattel Inc                                                                      | CUSIP: 577081BD3<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |       40000 | PA      | $40140.00     | 0.00%             | 2027-12-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                                               | Mexico Government International Bonds                                           | CUSIP: 91087BAV2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     1300000 | PA      | $1294982.00   | 0.15%             | 2035-02-09      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                                                                   | Ares Capital Corp                                                               | CUSIP: 04010LBK8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |     2000000 | PA      | $1984410.00   | 0.24%             | 2030-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                   | Wells Fargo & Co.                                                               | CUSIP: 000000000<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     1500000 | PA      | $1624536.17   | 0.19%             | 2030-05-04      | Fixed         | 1.74%                 | Yes           |                  2 | On Loan: No      |
| EdgeConneX Data Centers Issuer, LLC                                                 | Edgeconnex Data Centers Issuer LLC                                              | CUSIP: 28000XAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1052910 | PA      | $1047811.03   | 0.13%             | 2054-07-27      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DataBank Issuer LLC                                                                 | DataBank Issuer                                                                 | CUSIP: 23802WAN1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     6620000 | PA      | $6515135.23   | 0.78%             | 2054-01-26      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| SESAC Finance, LLC                                                                  | Sesac Finance LLC                                                               | CUSIP: 78396YAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      444375 | PA      | $447136.17    | 0.05%             | 2054-01-25      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| INSIGHT ENTERPRS                                                                    | Insight Enterprises Inc                                                         | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |      140000 | PA      | $142650.90    | 0.02%             | 2032-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                                         | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |           1 | NC      | $-501.86      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Oxford Finance Credit Fund III LP                                                   | Oxford Finance Credit Fund III 2024-A LP                                        | CUSIP: 69145DAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      325000 | PA      | $328956.03    | 0.04%             | 2032-01-14      | Fixed         | 6.68%                 | No            |                  2 | On Loan: No      |
| Nokia OYJ                                                                           | Nokia Oyj                                                                       | CUSIP: 654902AC9<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |       10000 | PA      | $10170.80     | 0.00%             | 2039-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                           | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F060667<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    24835000 | PA      | $25077425.86  | 2.99%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                                                              | Lumen Technologies Inc 2024 Extended Term Loan B2                               | CUSIP: 55024EAG0<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |      660000 | PA      | $652759.80    | 0.08%             | 2030-04-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                                                                    | Lamar Media Corp                                                                | CUSIP: 513075BT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      245000 | PA      | $230900.84    | 0.03%             | 2030-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                                    | BAT Capital Corp                                                                | CUSIP: 05526DCC7<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     1675000 | PA      | $1678258.11   | 0.20%             | 2035-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                                                            | Benchmark 2022-B33 Mortgage Trust                                               | CUSIP: 08163PBG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      475000 | PA      | $428444.06    | 0.05%             | 2055-03-15      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| Switch ABS Issuer, LLC                                                              | Switch ABS Issuer LLC                                                           | CUSIP: 871044AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2010000 | PA      | $2004124.17   | 0.24%             | 2054-06-25      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| Hotwire Funding LLC                                                                 | Hotwire Funding LLC                                                             | CUSIP: 44148JAA7<br>LEI: 254900ZCO90MCT7Y9348 | Long             | ABS-O            | CORP              | US        |     1050000 | PA      | $1005710.16   | 0.12%             | 2051-11-20      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust 2020-INV1                                       | Starwood Mortgage Residential Trust 2020-INV                                    | CUSIP: 85573EAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       39094 | PA      | $36779.10     | 0.00%             | 2055-11-25      | Variable      | 1.03%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | Ginnie Mae                                                                      | CUSIP: 21H062669<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     6450000 | PA      | $6585740.57   | 0.79%             | 2054-06-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                                                  | Expand Energy Corp                                                              | CUSIP: 845467AS8<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |       70000 | PA      | $69619.68     | 0.01%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                                                            | Avolon Holdings Funding Ltd                                                     | CUSIP: 05401AAP6<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |      815000 | PA      | $765954.74    | 0.09%             | 2028-02-21      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                              | US 2YR NOTE (CBT) SEP25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         754 | NC      | $146232.27    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CIMIC FINANCE USA PTY LT                                                            | CIMIC Finance USA Pty Ltd                                                       | CUSIP: 171873AB8<br>LEI: 213800GNWSV32LXHCZ50 | Long             | DBT              | CORP              | AU        |       10000 | PA      | $10473.01     | 0.00%             | 2034-03-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                                                | Las Vegas Sands Corp                                                            | CUSIP: 517834AL1<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |     1215000 | PA      | $1204945.23   | 0.14%             | 2034-08-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                                          | JPMBB Commercial Mortgage Securities Trust 2013-C15                             | CUSIP: 46640NAP3<br>LEI: 549300UOGMFS1M8XVM16 | Long             | ABS-MBS          | CORP              | US        |      131141 | PA      | $111353.27    | 0.01%             | 2045-11-15      | Variable      | 4.61%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                                                                  | Subway Funding LLC                                                              | CUSIP: 864300AG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1990000 | PA      | $1955849.61   | 0.23%             | 2054-07-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| harvest commercial capital loan trust                                               | Harvest Commercial Capital Loan Trust 2024-1                                    | CUSIP: 417927AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      317748 | PA      | $326366.18    | 0.04%             | 2056-10-25      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                                                               | Athene Global Funding                                                           | CUSIP: 000000000<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |      100000 | PA      | $110189.76    | 0.01%             | 2026-09-10      | Fixed         | 0.37%                 | Yes           |                  2 | On Loan: No      |
| ALMAVIVA THE ITALIAN INN                                                            | Almaviva-The Italian Innovation Co SpA                                          | CUSIP: 000000000<br>LEI: 815600A862DA4DD9E211 | Long             | DBT              | CORP              | IT        |      729000 | PA      | $849533.41    | 0.10%             | 2030-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                                                | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AL5<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |      300000 | PA      | $245132.37    | 0.03%             | 2031-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| INFRASTRUTTURE WIRELESS                                                             | Infrastrutture Wireless Italiane SpA                                            | CUSIP: 000000000<br>LEI: 81560066183FE361C071 | Long             | DBT              | CORP              | IT        |      500000 | PA      | $525229.52    | 0.06%             | 2031-04-19      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| AMBER FINCO PLC                                                                     | Amber Finco PLC                                                                 | CUSIP: 000000000<br>LEI: 9845004C0870D380O790 | Long             | DBT              | CORP              | GB        |      900000 | PA      | $1069127.34   | 0.13%             | 2029-07-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| CAJUN GLOBAL LLC                                                                    | Cajun Global LLC                                                                | CUSIP: 12803VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      178756 | PA      | $173361.99    | 0.02%             | 2051-11-20      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| KBC GROUP NV                                                                        | KBC Group NV                                                                    | CUSIP: 000000000<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | DBT              | CORP              | BE        |      800000 | PA      | $998278.66    | 0.12%             | 2028-09-05      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Imperial Fund LLC                                                                   | Imperial Fund Mortgage Trust 2021-NQM2                                          | CUSIP: 452761AB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      430173 | PA      | $363296.58    | 0.04%             | 2056-09-25      | Variable      | 1.36%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                                         | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | XX        |           1 | NC      | $46224.23     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Blue Owl Asset Leasing Trust                                                        | Blue Owl Asset Leasing Trust 2024-1 LLC                                         | CUSIP: 095921AD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1700000 | PA      | $1717999.09   | 0.21%             | 2031-01-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds                                               | Panama Government International Bonds                                           | CUSIP: 698299BG8<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |      660000 | PA      | $431541.00    | 0.05%             | 2047-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                                            | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |      520000 | PA      | $533367.42    | 0.06%             | 2055-03-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                            | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1410000 | PA      | $930694.50    | 0.11%             | 2052-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Global Payments, Inc.                                                               | Global Payments, Inc.                                                           | CUSIP: 37940XAS1<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |     1000000 | PA      | $1195197.50   | 0.14%             | 2031-03-17      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                                                          | AbbVie Inc                                                                      | CUSIP: 00287YEB1<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |     1150000 | PA      | $1121296.70   | 0.13%             | 2055-03-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Time Warner Cable LLC                                                               | Time Warner Cable LLC                                                           | CUSIP: 88732JBB3<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |      935000 | PA      | $824038.03    | 0.10%             | 2041-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                                                        | US Foods Inc                                                                    | CUSIP: 90290MAJ0<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |      135000 | PA      | $132624.15    | 0.02%             | 2033-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                                                            | Prudential Financial Inc                                                        | CUSIP: 744320BJ0<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |       30000 | PA      | $28823.79     | 0.00%             | 2052-03-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BANQUE FED CRED MUTUEL                                                              | Banque Federative du Credit Mutuel SA                                           | CUSIP: 06675DCM2<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |     1000000 | PA      | $1012695.93   | 0.12%             | 2028-02-16      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                                       | Carnival Corp                                                                   | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     1000000 | PA      | $1002501.40   | 0.12%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| APA INFRASTRUCTURE LTD                                                              | APA Infrastructure Ltd                                                          | CUSIP: 000000000<br>LEI: 261700SS8OEHDOCOUJ33 | Long             | DBT              | CORP              | AU        |     1200000 | PA      | $1285126.18   | 0.15%             | 2030-07-15      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| ALLO Issuer, LLC                                                                    | ALLO Issuer LLC                                                                 | CUSIP: 01983KAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1500000 | PA      | $1516953.15   | 0.18%             | 2054-07-20      | Fixed         | 5.94%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding, LLC                                                          | Driven Brands Funding LLC                                                       | CUSIP: 26209XAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      979256 | PA      | $907167.65    | 0.11%             | 2051-10-20      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                                                | Las Vegas Sands Corp                                                            | CUSIP: 517834AM9<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |      655000 | PA      | $656482.16    | 0.08%             | 2028-06-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds                                               | Panama Government International Bonds                                           | CUSIP: 698299BT0<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |     1900000 | PA      | $1786570.00   | 0.21%             | 2035-02-14      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Flexential Issuer, LLC                                                              | Flexential Issuer 2021-1                                                        | CUSIP: 33938MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     5815000 | PA      | $5562251.03   | 0.66%             | 2051-11-27      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                      | Morgan Stanley                                                                  | CUSIP: 61747YGA7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     2000000 | PA      | $2032666.90   | 0.24%             | 2036-04-17      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| UNITED GROUP BV                                                                     | United Group BV                                                                 | CUSIP: 000000000<br>LEI: 213800PC85O8BJ7DU398 | Long             | DBT              | CORP              | NL        |      800000 | PA      | $935406.51    | 0.11%             | 2031-10-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MILEAGE PLUS HLDINGS LLC                                                            | Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd       | CUSIP: 599191AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1606500 | PA      | $1610186.92   | 0.19%             | 2027-06-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                                                         | FIGRE Trust 2023-HE3                                                            | CUSIP: 31684CAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      356570 | PA      | $365090.37    | 0.04%             | 2053-11-25      | Variable      | 6.44%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                                                            | Comision Federal de Electricidad                                                | CUSIP: 200447AK6<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |     2300000 | PA      | $1910008.32   | 0.23%             | 2033-07-26      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                           | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F050668<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     4150000 | PA      | $4016603.11   | 0.48%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                                         | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |           1 | NC      | $-10263.21    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                                  | Energy Transfer LP                                                              | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      115000 | PA      | $114710.26    | 0.01%             | 2026-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RENTOKIL INITIAL FINANC                                                             | Rentokil Initial Finance BV                                                     | CUSIP: 000000000<br>LEI: 2549005WL1W9GJ5TM121 | Long             | DBT              | CORP              | NL        |     1050000 | PA      | $1217074.50   | 0.15%             | 2027-06-27      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| COMMONWEALTH BANK AUST                                                              | Commonwealth Bank of Australia                                                  | CUSIP: 202712BX2<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |     1845000 | PA      | $1770715.76   | 0.21%             | 2046-03-14      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| Centersquare Issuer LLC                                                             | Centersquare Issuer LLC                                                         | CUSIP: 15201EAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     3600000 | PA      | $3455544.96   | 0.41%             | 2055-03-26      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                                                 | Sirius XM Radio LLC                                                             | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |      185000 | PA      | $175552.72    | 0.02%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Centersquare Issuer LLC                                                             | Centersquare Issuer LLC                                                         | CUSIP: 15201EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1500000 | PA      | $1460306.85   | 0.17%             | 2054-10-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Iron Mountain Inc                                                                   | Iron Mountain Inc                                                               | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      190000 | PA      | $187916.23    | 0.02%             | 2028-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                                                 | PURCHASED USD / SOLD ZAR                                                        | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |           1 | NC      | $-3516.61     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SHR Trust                                                                           | SHR Trust 2024-LXRY                                                             | CUSIP: 784234AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3325000 | PA      | $3329158.91   | 0.40%             | 2041-10-15      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| PFIZER INVESTMENT ENTER                                                             | Pfizer Investment Enterprises Pte Ltd                                           | CUSIP: 716973AG7<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |     1055000 | PA      | $966980.43    | 0.12%             | 2053-05-19      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Sotheby's Artfi Master Trust 2024-A                                                 | Sotheby's Artfi Master Trust                                                    | CUSIP: 83589CAA6<br>LEI: 9845002FA850DM72BA31 | Long             | ABS-O            | CORP              | US        |     3500000 | PA      | $3527300.00   | 0.42%             | 2031-12-22      | Fixed         | 6.43%                 | No            |                  2 | On Loan: No      |
| JAPAN TOBACCO INC                                                                   | Japan Tobacco Inc                                                               | CUSIP: 471105AE6<br>LEI: 353800Z0ENYBQO0XRJ31 | Long             | DBT              | CORP              | JP        |     1670000 | PA      | $1721873.66   | 0.21%             | 2035-06-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| ASSUREDPARTNERS INC                                                                 | AssuredPartners Inc                                                             | CUSIP: 04624VAB5<br>LEI: 549300HNDSDQWQ3L2P80 | Long             | DBT              | CORP              | US        |      285000 | PA      | $284806.14    | 0.03%             | 2029-01-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                                                 | PURCHASED USD / SOLD BRL                                                        | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |           1 | NC      | $5926.94      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                                                                | Saudi Arabian Oil Co                                                            | CUSIP: 80414L3B9<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |      815000 | PA      | $813019.55    | 0.10%             | 2035-06-02      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PFS Financing Corp.                                                                 | PFS Financing Corp                                                              | CUSIP: 69335PFE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      335000 | PA      | $337292.64    | 0.04%             | 2029-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                                            | Toyota Motor Credit Corp                                                        | CUSIP: 000000000<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |      200000 | PA      | $236649.46    | 0.03%             | 2030-07-24      | Fixed         | 3.85%                 | Yes           |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR                                                              | Blackstone Mortgage Trust Inc                                                   | CUSIP: 09257WAF7<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              |  | US        |      400000 | PA      | $421119.60    | 0.05%             | 2029-12-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BIOGEN INC                                                                          | Biogen Inc                                                                      | CUSIP: 09062XAM5<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | DBT              | CORP              | US        |      775000 | PA      | $775259.70    | 0.09%             | 2055-05-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| DBSG 2024-ALTA Mortgage Trust                                                       | DBSG 2024-ALTA Mortgage Trust                                                   | CUSIP: 239918AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1615000 | PA      | $1639244.70   | 0.20%             | 2037-06-10      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| MOTION FINCO SARL                                                                   | Motion Finco Sarl                                                               | CUSIP: 000000000<br>LEI: 2549002L1LBQZKA7UN30 | Long             | DBT              | CORP              | LU        |      300000 | PA      | $326328.36    | 0.04%             | 2030-06-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Imperial Fund LLC                                                                   | Imperial Fund Mortgage Trust 2021-NQM1                                          | CUSIP: 452764AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      101051 | PA      | $87415.50     | 0.01%             | 2056-06-25      | Variable      | 1.07%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                                                            | Electricite de France SA                                                        | CUSIP: 28504DAF0<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |     3465000 | PA      | $3499968.19   | 0.42%             | 2035-01-13      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                                         | PURCHASED USD / SOLD GBP                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |           1 | NC      | $-904208.33   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUNDING                                                                  | RGA Global Funding                                                              | CUSIP: 76209PAF0<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |     1525000 | PA      | $1506201.84   | 0.18%             | 2031-12-06      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                                                        | Enbridge Inc                                                                    | CUSIP: 29250NBP9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |       15000 | PA      | $15529.30     | 0.00%             | 2083-01-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                                                            | Virgin Media Secured Finance PLC                                                | CUSIP: 92769XAR6<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |      290000 | PA      | $267774.55    | 0.03%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Service Experts Issuer                                                              | Service Experts Issuer 2024-1 LLC                                               | CUSIP: 81758FAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      403464 | PA      | $408977.98    | 0.05%             | 2035-11-20      | Fixed         | 6.39%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master Owner Trust                                            | Ford Credit Floorplan Master Owner Trust A                                      | CUSIP: 34528QHX5<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |     1335000 | PA      | $1339229.28   | 0.16%             | 2028-05-15      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| RENAISSANCERE HOLDINGS L                                                            | RenaissanceRe Holdings Ltd                                                      | CUSIP: 75968NAG6<br>LEI: EK6GB9U3U58PDI411C94 | Long             | DBT              | CORP              | BM        |     2000000 | PA      | $2015037.04   | 0.24%             | 2035-04-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Notes                                                             | CUSIP: 91282CMY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     1935000 | PA      | $1929028.71   | 0.23%             | 2027-04-30      | Fixed         | 3.75%                 | No            |                  1 | On Loan: No      |
| CREDIT AGRICOLE SA                                                                  | Credit Agricole SA                                                              | CUSIP: 22535WAR8<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |     1640000 | PA      | $1654396.18   | 0.20%             | 2031-05-27      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| CAMELOT RETURN MERGER SU                                                            | Camelot Return Merger Sub Inc                                                   | CUSIP: 13323NAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      510000 | PA      | $451350.00    | 0.05%             | 2028-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Bonds                                                             | CUSIP: 912810UA4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     9325000 | PA      | $8870042.02   | 1.06%             | 2054-05-15      | Fixed         | 4.63%                 | No            |                  1 | On Loan: No      |
| INDONESIA GOVERNMENT                                                                | Indonesia Treasury Bond                                                         | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 66300000000 | PA      | $4119676.83   | 0.49%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                                                            | Avolon Holdings Funding Ltd                                                     | CUSIP: 05401AAV3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |     1600000 | PA      | $1627377.15   | 0.19%             | 2029-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                                                            | Sensata Technologies Inc                                                        | CUSIP: 81728UAC8<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |      410000 | PA      | $413667.45    | 0.05%             | 2032-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                                                 | PURCHASED USD / SOLD BRL                                                        | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |           1 | NC      | $-78776.04    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Retained Vantage Data Centers Issuer, LLC                                           | Retained Vantage Data Centers Issuer LLC                                        | CUSIP: 76134KAH7<br>LEI: 254900N4NW6XZ9B4HM15 | Long             | ABS-O            | CORP              | US        |     2100000 | PA      | $2062798.92   | 0.25%             | 2049-09-15      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | Ginnie Mae                                                                      | CUSIP: 21H050664<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    19200000 | PA      | $18623905.34  | 2.22%             | 2054-06-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust                                         | MF1 2021-FL7 Ltd                                                                | CUSIP: 55284AAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      199229 | PA      | $198990.85    | 0.02%             | 2036-10-16      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| TSC SPV FUNDING, LLC                                                                | TSC SPV Funding LLC                                                             | CUSIP: 898912AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      706450 | PA      | $686927.41    | 0.08%             | 2054-08-20      | Fixed         | 6.29%                 | No            |                  2 | On Loan: No      |
| BIOGEN INC                                                                          | Biogen Inc                                                                      | CUSIP: 09062XAL7<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | DBT              | CORP              | US        |      400000 | PA      | $402693.13    | 0.05%             | 2035-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Petco Health and Wellness Company Inc                                               | Petco Health and Wellness Company Inc 2021 Term Loan B                          | CUSIP: 71601HAB2<br>LEI: 2549007TYGV6RVSE9M61 | Long             | LON              | CORP              | US        |      500000 | PA      | $462230.00    | 0.06%             | 2028-03-03      | Floating      | 7.81%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                          | Verus Securitization Trust 2021-R3                                              | CUSIP: 92538EAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      242807 | PA      | $229660.84    | 0.03%             | 2064-04-25      | Variable      | 1.02%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                                              | Sempra                                                                          | CUSIP: 816851BU2<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |       65000 | PA      | $61163.02     | 0.01%             | 2055-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Ziply Fiber Issuer, LLC                                                             | Ziply Fiber Issuer LLC                                                          | CUSIP: 98979QAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      679000 | PA      | $703568.39    | 0.08%             | 2054-04-20      | Fixed         | 7.81%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                            | BX Trust 2021-ARIA                                                              | CUSIP: 05608RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1500000 | PA      | $1492500.00   | 0.18%             | 2036-10-15      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| Bankers Healthcare Group Securitization Trust                                       | BHG Securitization Trust 2025-1CON                                              | CUSIP: 08860AAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     3565000 | PA      | $3569266.24   | 0.43%             | 2036-04-17      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                                                       | FirstCash Inc                                                                   | CUSIP: 33767DAD7<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |      170000 | PA      | $174251.44    | 0.02%             | 2032-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                                                    | Duke Energy Corp                                                                | CUSIP: 000000000<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |     1300000 | PA      | $1472560.26   | 0.18%             | 2034-06-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | Ginnie Mae                                                                      | CUSIP: 21H032662<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     1575000 | PA      | $1401046.75   | 0.17%             | 2054-06-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Achieve Mortgage                                                                    | ACHM Trust 2023-HE2                                                             | CUSIP: 00111NAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2170576 | PA      | $2217760.81   | 0.26%             | 2038-10-25      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| CyrusOne Data Centers Issuer I LLC                                                  | CyrusOne Data Centers Issuer I LLC                                              | CUSIP: 23284BAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1025000 | PA      | $1028626.35   | 0.12%             | 2048-11-20      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| EVERGY INC                                                                          | Evergy Inc                                                                      | CUSIP: 30034WAE6<br>LEI: 549300PGTHDQY6PSUI61 | Long             | DBT              | CORP              | US        |       75000 | PA      | $74236.99     | 0.01%             | 2055-06-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                                            | JP Morgan Mortgage Trust Series 2025-4                                          | CUSIP: 46593UAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4780000 | PA      | $4769183.34   | 0.57%             | 2055-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| VAR ENERGI ASA                                                                      | Var Energi ASA                                                                  | CUSIP: 92212WAG5<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | NO        |      455000 | PA      | $459322.50    | 0.05%             | 2035-05-22      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                                                            | Fortress Transportation and Infrastructure Investors LLC                        | CUSIP: 34960PAG6<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |     4165000 | PA      | $4257687.91   | 0.51%             | 2032-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                                                            | Comision Federal de Electricidad                                                | CUSIP: 200447AH3<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |     1000000 | PA      | $862837.40    | 0.10%             | 2031-02-09      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                                                            | Banco Mercantil del Norte SA/Grand Cayman                                       | CUSIP: 05971PAD0<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |      700000 | PA      | $694588.65    | 0.08%             | 2031-05-20      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| COMPUTERSHARE US INC                                                                | Computershare US Inc                                                            | CUSIP: 000000000<br>LEI: 549300BXQ1PX3KGZRT72 | Long             | DBT              | CORP              | US        |      700000 | PA      | $687130.35    | 0.08%             | 2031-10-07      | Fixed         | 1.13%                 | Yes           |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                              | Venture Global LNG Inc                                                          | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |      375000 | PA      | $400929.75    | 0.05%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                                                                  | Subway Funding LLC                                                              | CUSIP: 864300AL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2786000 | PA      | $2723734.57   | 0.33%             | 2054-07-30      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Bonds                                                             | CUSIP: 912810TZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      135000 | PA      | $128028.52    | 0.02%             | 2044-02-15      | Fixed         | 4.50%                 | No            |                  1 | On Loan: No      |
| Westlake Automobile Receivables Trust                                               | Westlake Automobile Receivables Trust 2024-2                                    | CUSIP: 96042YAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      615000 | PA      | $618412.88    | 0.07%             | 2028-02-15      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                                          | MFA 2021-INV1 Trust                                                             | CUSIP: 552747AB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      467025 | PA      | $448188.13    | 0.05%             | 2056-01-25      | Variable      | 1.06%                 | No            |                  2 | On Loan: No      |
| BALTIMORE GAS & ELECTRIC                                                            | Baltimore Gas and Electric Co                                                   | CUSIP: 059165ET3<br>LEI: 88V8C2WYSOD1SPSSLH72 | Long             | DBT              | CORP              | US        |      800000 | PA      | $805361.66    | 0.10%             | 2035-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                                                            | Mill City Mortgage Loan Trust 2021-NMR1                                         | CUSIP: 59982HAS9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1980000 | PA      | $1481090.69   | 0.18%             | 2060-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| EPHIOS SUBCO SARL                                                                   | Ephios Subco 3 Sarl                                                             | CUSIP: 000000000<br>LEI: 213800E4EG6VFUFVEH64 | Long             | DBT              | CORP              | LU        |      600000 | PA      | $732707.51    | 0.09%             | 2031-01-31      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortgage Trust                                             | Saluda Grade Alternative Mortgage Trust 2023-FIG3                               | CUSIP: 79582AAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1169672 | PA      | $1204758.42   | 0.14%             | 2053-08-25      | Variable      | 7.07%                 | No            |                  2 | On Loan: No      |
| SONIC AUTOMOTIVE INC                                                                | Sonic Automotive Inc                                                            | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |      825000 | PA      | $788068.79    | 0.09%             | 2029-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust                                                      | Pagaya AI Debt Trust 2023-6                                                     | CUSIP: 69547UAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       91647 | PA      | $91716.89     | 0.01%             | 2031-06-16      | Fixed         | 7.46%                 | No            |                  2 | On Loan: No      |
| BAT INTL FINANCE PLC                                                                | BAT International Finance PLC                                                   | CUSIP: 000000000<br>LEI: 21380041YBGOQDFAC823 | Long             | DBT              | CORP              | GB        |     1380000 | PA      | $1512480.05   | 0.18%             | 2030-01-16      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| COTERRA ENERGY INC                                                                  | Coterra Energy Inc                                                              | CUSIP: 127097AN3<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | DBT              | CORP              | US        |       45000 | PA      | $40565.23     | 0.00%             | 2055-02-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                                            | Vistra Operations Co LLC                                                        | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |      430000 | PA      | $455945.32    | 0.05%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA SPA                                                                  | Telecom Italia SpA/Milano                                                       | CUSIP: 000000000<br>LEI: 549300W384M3RI3VXU42 | Long             | DBT              | CORP              | IT        |      300000 | PA      | $323376.08    | 0.04%             | 2029-01-18      | Fixed         | 1.63%                 | Yes           |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                                                               | RIO TINTO FIN USA PLC                                                           | CUSIP: 76720AAV8<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |     1490000 | PA      | $1448619.99   | 0.17%             | 2055-03-14      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust                                         | MF1 2021-FL7 Ltd                                                                | CUSIP: 55284AAL2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     3300000 | PA      | $3214058.73   | 0.38%             | 2036-10-16      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ACQUIROR LP                                                                 | Prairie Acquiror LP                                                             | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |      650000 | PA      | $660781.55    | 0.08%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                                          | MFA 2021-NQM1 Trust                                                             | CUSIP: 55283FAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       76941 | PA      | $72594.54     | 0.01%             | 2065-04-25      | Variable      | 1.15%                 | No            |                  2 | On Loan: No      |
| PEDIATRIX MEDICAL GROUP                                                             | Pediatrix Medical Group Inc                                                     | CUSIP: 58502BAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      170000 | PA      | $164567.06    | 0.02%             | 2030-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BANIJAY ENTERTAINMENT                                                               | Banijay Entertainment SAS                                                       | CUSIP: 000000000<br>LEI: 969500CE0IE2EZ5VBG13 | Long             | DBT              | CORP              | FR        |      900000 | PA      | $1068146.31   | 0.13%             | 2029-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TUI AG                                                                              | TUI AG                                                                          | CUSIP: 000000000<br>LEI: 529900SL2WSPV293B552 | Long             | DBT              | CORP              | DE        |      900000 | PA      | $1062781.31   | 0.13%             | 2029-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                                                  | Ford Motor Co                                                                   | CUSIP: 345370DB3<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |      430000 | PA      | $420003.15    | 0.05%             | 2032-08-19      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                                 | New Residential Mortgage Loan Trust 2018-4                                      | CUSIP: 64828FCS9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       67058 | PA      | $65651.65     | 0.01%             | 2048-01-25      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| U.K. Gilts                                                                          | U.K. Gilts                                                                      | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |     7840000 | PA      | $10575886.81  | 1.26%             | 2029-07-22      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                                   | Iron Mountain Inc                                                               | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      700000 | PA      | $655899.64    | 0.08%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| INTERSTATE POWER & LIGHT                                                            | Interstate Power and Light Co                                                   | CUSIP: 461070AX2<br>LEI: EF9UQIIO4KY2BWOK3P26 | Long             | DBT              | CORP              | US        |     1300000 | PA      | $1307656.21   | 0.16%             | 2035-06-29      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                                                                  | BMO 2024-C8 Mortgage Trust                                                      | CUSIP: 05593HAH7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1115000 | PA      | $1145335.69   | 0.14%             | 2057-03-15      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| U.K. Gilts                                                                          | U.K. Gilts                                                                      | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |     8555000 | PA      | $10645687.53  | 1.27%             | 2033-01-31      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| STATE OF ISRAEL                                                                     | Israel Government International Bond                                            | CUSIP: 46514BRM1<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | NUSS              | IL        |     1650000 | PA      | $1463088.00   | 0.17%             | 2054-03-12      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GOVT OF BERMUDA                                                                     | Bermuda Government International Bond                                           | CUSIP: 085209AH7<br>LEI: 549300FP5PUZXX9FVJ40 | Long             | DBT              | NUSS              | BM        |      800000 | PA      | $508376.00    | 0.06%             | 2050-08-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN                                                                  | Seagate HDD Cayman                                                              | CUSIP: 81180WBM2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |      168000 | PA      | $190684.20    | 0.02%             | 2032-12-01      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                                    | BAT Capital Corp                                                                | CUSIP: 05526DCD5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |      850000 | PA      | $837759.23    | 0.10%             | 2055-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                                    | BAT Capital Corp                                                                | CUSIP: 05526DBK0<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |       25000 | PA      | $20070.69     | 0.00%             | 2049-09-06      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| OMAN GOV INTERNTL BOND                                                              | Oman Government International Bond                                              | CUSIP: 68205LAS2<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |      700000 | PA      | $731549.00    | 0.09%             | 2031-01-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust                                                      | Pagaya AI Debt Selection Trust 2021-HG1                                         | CUSIP: 69547PAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       24168 | PA      | $24025.02     | 0.00%             | 2029-01-16      | Fixed         | 1.22%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                                                            | American Airlines Inc/AAdvantage Loyalty IP Ltd                                 | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      505000 | PA      | $495898.72    | 0.06%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Bourzou Issuer LLC, Jamshid Issuer LLC, Cristobal Issuer LLC & COPT DC-6 Issuer LLC | Cloud Capital Holdco LP                                                         | CUSIP: 102104AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1000000 | PA      | $1003029.50   | 0.12%             | 2049-11-22      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| TOTALENERGIES CAPITAL SA                                                            | TotalEnergies Capital SA                                                        | CUSIP: 89157XAF8<br>LEI: 529900QI55ZLJVCMPA71 | Long             | DBT              | CORP              | FR        |     1000000 | PA      | $907134.84    | 0.11%             | 2064-09-10      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| 888 ACQUISITIONS LTD                                                                | 888 Acquisitions Ltd                                                            | CUSIP: 000000000<br>LEI: 254900RFD0BP3JOPZU89 | Long             | DBT              | CORP              | GI        |      800000 | PA      | $910721.83    | 0.11%             | 2027-07-15      | Fixed         | 7.56%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                                              | BP Capital Markets America Inc                                                  | CUSIP: 10373QCA6<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |     4490000 | PA      | $4470683.71   | 0.53%             | 2034-11-17      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                                            | Brazil Notas do Tesouro Nacional Serie F                                        | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    75500000 | PA      | $13024347.32  | 1.55%             | 2027-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| MODIVCARE INC                                                                       | Modivcare Inc 2025 Incremental Term Loan                                        | CUSIP: 60783LAD2<br>LEI: 549300EFZIFW7F7I0Q28 | Long             | LON              | CORP              | US        |       70597 | PA      | $53300.92     | 0.01%             | 2026-01-09      | Floating      | 11.71%                | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                                                 | Dominion Energy Inc                                                             | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |       70000 | PA      | $70081.84     | 0.01%             | 2055-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| HLDNG D'INFRA METIERS                                                               | Holding d'Infrastructures des Metiers de l'Environnement                        | CUSIP: 000000000<br>LEI: 969500I3QVK40XEORU25 | Long             | DBT              | CORP              | FR        |      945000 | PA      | $1110888.00   | 0.13%             | 2029-10-24      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| WORLDLINE SA/FRANCE                                                                 | Worldline SA/France                                                             | CUSIP: 000000000<br>LEI: 549300CJMQNCA0U4TS33 | Long             | DBT              | CORP              | FR        |      400000 | PA      | $442821.46    | 0.05%             | 2028-09-12      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| BLOCK INC                                                                           | Block Inc                                                                       | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |      222000 | PA      | $200595.20    | 0.02%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ServiceMaster Brands                                                                | ServiceMaster Funding LLC                                                       | CUSIP: 81761TAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      117550 | PA      | $100808.86    | 0.01%             | 2051-01-30      | Fixed         | 3.34%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                                                  | Ford Motor Co                                                                   | CUSIP: 345370DA5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |       55000 | PA      | $45386.39     | 0.01%             | 2032-02-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ALLWYN ENTERTAINMENT FIN                                                            | Allwyn Entertainment Financing UK PLC                                           | CUSIP: 000000000<br>LEI: 315700J7ZTIN8XGCX365 | Long             | DBT              | CORP              | GB        |      800000 | PA      | $965184.37    | 0.12%             | 2030-04-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                           | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F062663<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    10305000 | PA      | $10580821.98  | 1.26%             | 2054-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                                                            | Builders FirstSource Inc                                                        | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |      505000 | PA      | $503147.31    | 0.06%             | 2034-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Achieve Mortgage                                                                    | ACHM Trust 2024-HE2                                                             | CUSIP: 00112DAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     3080350 | PA      | $3061720.79   | 0.37%             | 2039-10-25      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                                                              | BP Capital Markets PLC                                                          | CUSIP: 05565QDW5<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |     1000000 | PA      | $1006085.00   | 0.12%             | 2033-12-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Jack in the Box Funding, LLC                                                        | Jack in the Box Funding LLC                                                     | CUSIP: 466365AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2618000 | PA      | $2330210.59   | 0.28%             | 2052-02-26      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| Retained Vantage Data Centers Issuer, LLC                                           | Retained Vantage Data Centers Issuer LLC                                        | CUSIP: 76134KAA2<br>LEI: 254900N4NW6XZ9B4HM15 | Long             | ABS-O            | CORP              | US        |      660000 | PA      | $652434.62    | 0.08%             | 2048-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                        | GS Mortgage Securities Corp Trust 2021-DM                                       | CUSIP: 36265AAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      750000 | PA      | $744375.00    | 0.09%             | 2036-11-15      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                              | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      750000 | PA      | $703238.10    | 0.08%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                                                                | Colombian TES                                                                   | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        | 18900000000 | PA      | $3930336.83   | 0.47%             | 2030-09-18      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ZEGONA FINANCE PLC                                                                  | Zegona Finance PLC                                                              | CUSIP: 98927UAA5<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |      275000 | PA      | $292875.00    | 0.03%             | 2029-07-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                        | UBS Group AG                                                                    | CUSIP: 902613AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |      610000 | PA      | $587566.58    | 0.07%             | 2027-02-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                                                | Edison International                                                            | CUSIP: 281020AX5<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |      830000 | PA      | $819978.66    | 0.10%             | 2053-06-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| ORBIA ADVANCE CORP SAB                                                              | Orbia Advance Corp SAB de CV                                                    | CUSIP: 68560EAD0<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |      800000 | PA      | $805200.00    | 0.10%             | 2035-05-13      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DataBank Issuer LLC                                                                 | DataBank Issuer                                                                 | CUSIP: 23802WAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      250000 | PA      | $242742.88    | 0.03%             | 2051-02-27      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Achieve Mortgage                                                                    | FREED Mortgage Trust 2022-HE1                                                   | CUSIP: 35634KAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2105000 | PA      | $2180046.83   | 0.26%             | 2037-10-25      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                                                   | EURO-SCHATZ FUT JUN25                                                           | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |          -2 | NC      | $-604.97      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                                             | Royal Caribbean Cruises Ltd                                                     | CUSIP: 780153BU5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |      350000 | PA      | $354725.00    | 0.04%             | 2032-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                                                        | Enbridge Inc                                                                    | CUSIP: 29250NCD5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |      820000 | PA      | $785897.17    | 0.09%             | 2054-04-05      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                                            | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBC6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     2870000 | PA      | $2435393.83   | 0.29%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| EUTELSAT SA                                                                         | Eutelsat SA                                                                     | CUSIP: 000000000<br>LEI: 549300MCOOY1V7P2PG30 | Long             | DBT              | CORP              | FR        |      200000 | PA      | $195380.55    | 0.02%             | 2028-10-13      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| DANSKE BANK A/S                                                                     | Danske Bank A/S                                                                 | CUSIP: 23636ABH3<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |     1020000 | PA      | $1051050.41   | 0.13%             | 2030-03-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                                         | RCKT Mortgage Trust 2025-CES1                                                   | CUSIP: 749427AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1899506 | PA      | $1911083.13   | 0.23%             | 2045-01-25      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                                                        | Fibercop SpA                                                                    | CUSIP: 000000000<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |     1000000 | PA      | $1055758.55   | 0.13%             | 2029-01-18      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                                                             | Central Garden & Pet Co                                                         | CUSIP: 153527AN6<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |      415000 | PA      | $383783.45    | 0.05%             | 2030-10-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Oak Street Investment Grade Net Lease Fund                                          | Oak Street Investment Grade Net Lease Fund Series 2021-1                        | CUSIP: 67190AAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      248333 | PA      | $240881.92    | 0.03%             | 2051-01-20      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| ASMODEE GROUP AB                                                                    | Asmodee Group AB                                                                | CUSIP: 000000000<br>LEI: 636700G5993BBAFDYD02 | Long             | DBT              | CORP              | SE        |      160000 | PA      | $190510.36    | 0.02%             | 2029-12-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                                                            | BX Trust 2022-CLS                                                               | CUSIP: 05609XAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      585000 | PA      | $572127.43    | 0.07%             | 2027-10-13      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Bills                                                             | CUSIP: 912797NX1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    16000000 | PA      | $15941885.28  | 1.90%             | 2025-07-03      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| NMEF Funding LLC                                                                    | NMEF Funding 2025-A LLC                                                         | CUSIP: 62919VAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     4215000 | PA      | $4216976.84   | 0.50%             | 2032-07-15      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| BANCOLOMBIA SA                                                                      | Bancolombia SA                                                                  | CUSIP: 05968LAN2<br>LEI: 54930052NWJRPNMP1W58 | Long             | DBT              | CORP              | CO        |      576000 | PA      | $603916.42    | 0.07%             | 2034-12-24      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                                                                     | Zayo Issuer LLC                                                                 | CUSIP: 98919WAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     4700000 | PA      | $4722452.37   | 0.56%             | 2055-03-20      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| CHNGE Mortgage Trust                                                                | CHNGE Mortgage Trust 2023-4                                                     | CUSIP: 12569QAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      202185 | PA      | $205091.32    | 0.02%             | 2058-09-25      | Variable      | 7.57%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                            | BX Commercial Mortgage Trust 2023-VLT3                                          | CUSIP: 05611GAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      750000 | PA      | $750000.00    | 0.09%             | 2028-11-15      | Floating      | 7.02%                 | No            |                  2 | On Loan: No      |
| EquipmentShare                                                                      | OWN Equipment Fund I LLC                                                        | CUSIP: 69121NAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2311691 | PA      | $2330317.08   | 0.28%             | 2032-12-20      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                           | Towd Point Mortgage Trust 2024-CES1                                             | CUSIP: 89183CAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1370000 | PA      | $1382138.34   | 0.16%             | 2064-01-25      | Variable      | 6.44%                 | No            |                  2 | On Loan: No      |
| Ziply Fiber Issuer, LLC                                                             | Ziply Fiber Issuer LLC                                                          | CUSIP: 98979QAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2160000 | PA      | $2213258.04   | 0.26%             | 2054-04-20      | Fixed         | 6.64%                 | No            |                  2 | On Loan: No      |
| Generali                                                                            | Generali                                                                        | CUSIP: 000000000<br>LEI: 549300X5UKJVE386ZB61 | Long             | DBT              | CORP              | IT        |      300000 | PA      | $321244.11    | 0.04%             | 2031-07-14      | Fixed         | 2.43%                 | Yes           |                  2 | On Loan: No      |
| AIRCASTLE / IRELAND DAC                                                             | Aircastle Ltd / Aircastle Ireland DAC                                           | CUSIP: 00929JAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     1690000 | PA      | $1682304.37   | 0.20%             | 2030-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                                                  | Realty Income Corp                                                              | CUSIP: 000000000<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |     1000000 | PA      | $1239018.30   | 0.15%             | 2034-07-06      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Chorus Ltd.                                                                         | Chorus Ltd.                                                                     | CUSIP: 000000000<br>LEI: R7NJHU48LTCIOB9BVU57 | Long             | DBT              | CORP              | NZ        |      500000 | PA      | $582755.32    | 0.07%             | 2029-09-07      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| NextGear Floorplan Master Owner Trust                                               | NextGear Floorplan Master Owner Trust                                           | CUSIP: 65341KCC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     3600000 | PA      | $3592803.24   | 0.43%             | 2029-09-15      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                                                                 | SG Residential Mortgage Trust 2021-1                                            | CUSIP: 784212AB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1536711 | PA      | $1262462.31   | 0.15%             | 2061-07-25      | Variable      | 1.36%                 | No            |                  2 | On Loan: No      |
| TENN VALLEY AUTHORITY                                                               | Tennessee Valley Authority                                                      | CUSIP: 880591FC1<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |     2695000 | PA      | $2554649.14   | 0.30%             | 2055-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                                         | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |           1 | NC      | $-2618636.58  | -0.31%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                                      | Morgan Stanley Capital I Trust 2014-150E                                        | CUSIP: 61764BAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3200000 | PA      | $2842307.20   | 0.34%             | 2032-09-09      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust                                                      | SWCH Commercial Mortgage Trust 2025-DATA                                        | CUSIP: 78489CAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4000000 | PA      | $3954964.80   | 0.47%             | 2042-02-15      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                                       | Carnival Corp                                                                   | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     4315000 | PA      | $4325655.59   | 0.52%             | 2033-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Lyra MUSIC Assets (Delaware) LP                                                     | Lyra Music Assets Delaware LP                                                   | CUSIP: 552339AA1<br>LEI: 9845007N9EAB0C048A12 | Long             | ABS-O            | CORP              | US        |     4992834 | PA      | $4918316.08   | 0.59%             | 2064-12-22      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE                                                               | United Parcel Service Inc                                                       | CUSIP: 911312CL8<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |      410000 | PA      | $407446.61    | 0.05%             | 2065-05-14      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                            | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1450000 | PA      | $976801.35    | 0.12%             | 2061-12-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| VATTENFALL AB                                                                       | Vattenfall AB                                                                   | CUSIP: 000000000<br>LEI: 549300T5RZ1HA5HZ3109 | Long             | DBT              | CORP              | SE        |      800000 | PA      | $972807.80    | 0.12%             | 2083-06-29      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                                                          | Verus Securitization Trust 2024-4                                               | CUSIP: 92540GAA6<br>LEI: 213800WNY873LW1L3M73 | Long             | ABS-MBS          | CORP              | US        |     2018442 | PA      | $2033685.72   | 0.24%             | 2069-06-25      | Variable      | 6.22%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                                            | Hess Midstream Operations LP                                                    | CUSIP: 428102AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      155000 | PA      | $153250.05    | 0.02%             | 2030-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                                                              | Match Group Holdings II LLC                                                     | CUSIP: 57665RAL0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |      520000 | PA      | $479914.19    | 0.06%             | 2030-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                                        | CSMC 2018-RPL9 Trust                                                            | CUSIP: 12654PAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1064013 | PA      | $1025085.23   | 0.12%             | 2057-09-25      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                                                 | Southern California Edison Co                                                   | CUSIP: 842400JD6<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |      340000 | PA      | $298671.36    | 0.04%             | 2054-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                                                                | Taylor Morrison Communities Inc                                                 | CUSIP: 87724RAJ1<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |      290000 | PA      | $282753.57    | 0.03%             | 2030-08-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ClickLease Equipment Receivables 2024-1 Trust                                       | ClickLease Equipment Receivables 2024-1 Trust                                   | CUSIP: 18682FAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1000000 | PA      | $1017379.90   | 0.12%             | 2030-02-15      | Fixed         | 8.40%                 | No            |                  2 | On Loan: No      |
| DB Master Finance LLC                                                               | DB Master Finance LLC                                                           | CUSIP: 233046AS0<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |      294325 | PA      | $254017.72    | 0.03%             | 2051-11-20      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Issuer LLC                                               | New Economy Assets - Phase 1 Sponsor LLC                                        | CUSIP: 643821AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1250000 | PA      | $1137828.50   | 0.14%             | 2061-10-20      | Fixed         | 2.41%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                                                            | American Airlines Inc/AAdvantage Loyalty IP Ltd                                 | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |       33333 | PA      | $33276.38     | 0.00%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| B&G Foods, Inc.                                                                     | B&G Foods Inc 2024 Term Loan B                                                  | CUSIP: 05508TAV4<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | LON              | CORP              | US        |      746250 | PA      | $682818.75    | 0.08%             | 2029-10-10      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| MARKET BIDCO FINCO PLC                                                              | Market Bidco Finco PLC                                                          | CUSIP: 000000000<br>LEI: 549300UGYX6EBVHRVG53 | Long             | DBT              | CORP              | GB        |      800000 | PA      | $1048439.37   | 0.13%             | 2027-11-04      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| AT&T INC                                                                            | AT&T Inc                                                                        | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     1080000 | PA      | $713968.64    | 0.09%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                                                   | Clean Harbors Inc                                                               | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |      130000 | PA      | $132289.43    | 0.02%             | 2031-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ZEGONA FINANCE PLC                                                                  | Zegona Finance PLC                                                              | CUSIP: 000000000<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |      800000 | PA      | $965132.60    | 0.12%             | 2029-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ESC CB144A UNIFIN FINA                                                              | ESC CB144A UNIFIN FINA                                                          | CUSIP: 904ESCAN0<br>LEI: 5493007GRMPGDJG93Z17 | Long             | DBT              | CORP              | MX        |      250000 | PA      | $12500.00     | 0.00%             | 2029-01-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                                                            | EMRLD Borrower LP / Emerald Co-Issuer Inc                                       | CUSIP: 29103CAA6<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |      200000 | PA      | $202022.72    | 0.02%             | 2030-12-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| SPDR Portfolio High Yield Bond ETF                                                  | SPDR Portfolio High Yield Bond ETF                                              | CUSIP: 78468R606<br>LEI: N/A                  | Long             | EC               | RF                | US        |      142800 | NS      | $3355800.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP                                                                          | US Bancorp                                                                      | CUSIP: 91159HJN1<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     1220000 | PA      | $1259724.07   | 0.15%             | 2034-06-12      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                              | Venture Global LNG Inc                                                          | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |      360000 | PA      | $339541.40    | 0.04%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Tele Columbus AG                                                                    | Tele Columbus AG                                                                | CUSIP: 000000000<br>LEI: 3912004GMFDLY04RUQ19 | Long             | DBT              | CORP              | DE        |      111783 | PA      | $97731.50     | 0.01%             | 2029-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| ALLIANZ SE                                                                          | Allianz SE                                                                      | CUSIP: 018820AC4<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |      400000 | PA      | $411522.40    | 0.05%             | 2053-09-06      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| SHERWOOD FINANCING PLC                                                              | Sherwood Financing PLC                                                          | CUSIP: 000000000<br>LEI: 259400SSZWSSPNYW7K08 | Long             | DBT              | CORP              | GB        |      800000 | PA      | $903862.76    | 0.11%             | 2026-11-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| NEXI SPA                                                                            | Nexi SpA                                                                        | CUSIP: 000000000<br>LEI: 5493000P70CQRQG8SN85 | Long             | DBT              | CORP              | IT        |     1000000 | PA      | $1092530.10   | 0.13%             | 2029-04-30      | Fixed         | 2.13%                 | Yes           |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                                                   | GEO Group Inc/The                                                               | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |      425000 | PA      | $448619.89    | 0.05%             | 2029-04-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA INC                                                                    | Cinemark USA Inc                                                                | CUSIP: 172441BF3<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |      510000 | PA      | $503133.00    | 0.06%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TERRAFORM POWER OPERATIN                                                            | TerraForm Power Operating LLC                                                   | CUSIP: 88104LAG8<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |      195000 | PA      | $183810.00    | 0.02%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 15-1 A PTT                                                               | American Airlines 2015-1 Class A Pass Through Trust                             | CUSIP: 023770AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1556005 | PA      | $1510973.34   | 0.18%             | 2027-05-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Frontier Issuer LLC                                                                 | Frontier Issuer LLC                                                             | CUSIP: 35910EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2500000 | PA      | $2535602.75   | 0.30%             | 2053-08-20      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                                             | Teva Pharmaceutical Finance Netherlands III BV                                  | CUSIP: 88167AAR2<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |      350000 | PA      | $389340.00    | 0.05%             | 2031-09-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                                             | Jane Street Group / JSG Finance Inc                                             | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      335000 | PA      | $349962.11    | 0.04%             | 2031-04-30      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| ENERGIA GROUP ROI                                                                   | Energia Group Roi Financeco DAC                                                 | CUSIP: 000000000<br>LEI: 2138006WRV8S2EFW9516 | Long             | DBT              | CORP              | IE        |      900000 | PA      | $1057798.50   | 0.13%             | 2028-07-31      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Telefonaktiebolaget LM Ericsson                                                     | Telefonaktiebolaget LM Ericsson                                                 | CUSIP: 000000000<br>LEI: 549300W9JLPW15XIFM52 | Long             | DBT              | CORP              | SE        |      250000 | PA      | $261867.75    | 0.03%             | 2029-05-26      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| NORTHRIVER MIDSTREAM FIN                                                            | Northriver Midstream Finance LP                                                 | CUSIP: 66679NAB6<br>LEI: 549300SOLNLY3BL6GF18 | Long             | DBT              | CORP              | CA        |     1105000 | PA      | $1115089.76   | 0.13%             | 2032-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                                         | Asurion LLC 2020 Term Loan B8                                                   | CUSIP: 04649VAX8<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     1078104 | PA      | $1076680.80   | 0.13%             | 2026-12-23      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                                | FREMF 2020-KF76 Mortgage Trust                                                  | CUSIP: 30316EAE5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      119706 | PA      | $116809.62    | 0.01%             | 2030-01-25      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| PARTNERRE FINANCE B LLC                                                             | PartnerRe Finance B LLC                                                         | CUSIP: 70213BAC5<br>LEI: 549300O0FAGHK2F79881 | Long             | DBT              | CORP              | US        |       15000 | PA      | $13868.04     | 0.00%             | 2050-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| First National Master Note Trust                                                    | First National Master Note Trust                                                | CUSIP: 32113CCB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      840000 | PA      | $854881.19    | 0.10%             | 2030-05-15      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                                            | Celanese US Holdings LLC                                                        | CUSIP: 15089QAP9<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |      125000 | PA      | $127925.63    | 0.02%             | 2032-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                                                             | Macy's Retail Holdings LLC                                                      | CUSIP: 55617LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      265000 | PA      | $245483.27    | 0.03%             | 2032-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                                                 | PURCHASED AUD / SOLD USD                                                        | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | AU        |           1 | NC      | $313217.85    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| HIGHMARK INC                                                                        | Highmark Inc                                                                    | CUSIP: 431116AE2<br>LEI: 549300B6868ZXXEB2Y57 | Long             | DBT              | CORP              | US        |      905000 | PA      | $767467.08    | 0.09%             | 2031-05-10      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| MARS INC                                                                            | Mars Inc                                                                        | CUSIP: 571676BC8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     1975000 | PA      | $1915947.42   | 0.23%             | 2055-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | Ginnie Mae                                                                      | CUSIP: 21H030666<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     2545000 | PA      | $2216831.46   | 0.26%             | 2054-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                                            | Vistra Operations Co LLC                                                        | CUSIP: 92840VAG7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |      920000 | PA      | $902786.21    | 0.11%             | 2027-01-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Monroe Capital ABS Funding LTD                                                      | Monroe Capital ABS Funding II Ltd                                               | CUSIP: 61035MAS1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      555000 | PA      | $554593.74    | 0.07%             | 2034-07-22      | Fixed         | 6.77%                 | No            |                  2 | On Loan: No      |
| MNR ABS ISSUER I LLC                                                                | MNR ABS ISSUER I LLC                                                            | CUSIP: 55317XAA7<br>LEI: 254900P5PAYARXBH9O74 | Long             | ABS-O            | CORP              | US        |      289230 | PA      | $292844.95    | 0.03%             | 2038-12-15      | Fixed         | 8.12%                 | No            |                  3 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                                                              | Adient Global Holdings Ltd                                                      | CUSIP: 00687YAB1<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |      185000 | PA      | $189076.29    | 0.02%             | 2028-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                                      | Mariner Finance Issuance Trust 2025-A                                           | CUSIP: 567920AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     5000000 | PA      | $5021875.00   | 0.60%             | 2038-05-20      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                                         | RCKT Mortgage Trust 2023-CES3                                                   | CUSIP: 749407AA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2398038 | PA      | $2432778.94   | 0.29%             | 2043-11-25      | Variable      | 7.11%                 | No            |                  2 | On Loan: No      |
| NETAPP INC                                                                          | NetApp Inc                                                                      | CUSIP: 64110DAN4<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | DBT              | CORP              | US        |      905000 | PA      | $909553.07    | 0.11%             | 2035-03-17      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                                                            | Standard Industries Inc/NY                                                      | CUSIP: 853496AC1<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |      155000 | PA      | $153944.31    | 0.02%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CASTELLUM AB                                                                        | Castellum AB                                                                    | CUSIP: 000000000<br>LEI: 549300GU5OHTR1T5IY68 | Long             | DBT              | CORP              | SE        |     1000000 | PA      | $1102621.98   | 0.13%             | 2026-12-02      | Fixed         | 3.13%                 | Yes           |                  2 | On Loan: No      |
| Citibank NA                                                                         | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |           1 | NC      | $4448.95      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                                      | Carvana Auto Receivables Trust 2024-P2                                          | CUSIP: 14688PAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1230000 | PA      | $1241331.01   | 0.15%             | 2029-07-10      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| ACCORINVEST GROUP SA                                                                | AccorInvest Group SA                                                            | CUSIP: 000000000<br>LEI: 2221000MD2YP7WLTNC52 | Long             | DBT              | CORP              | LU        |      800000 | PA      | $916643.64    | 0.11%             | 2031-11-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES                                                            | Delta Air Lines Inc / SkyMiles IP Ltd                                           | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     2080000 | PA      | $2071944.53   | 0.25%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                                            | Avis Budget Rental Car Funding AESOP LLC                                        | CUSIP: 05377RHG2<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |      260000 | PA      | $268845.02    | 0.03%             | 2029-12-20      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                                                            | Outfront Media Capital LLC / Outfront Media Capital Corp                        | CUSIP: 69007TAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      170000 | PA      | $179529.01    | 0.02%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                                                   | EURO-BOBL FUTURE JUN25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        -359 | NC      | $-142091.70   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Bank                                                                                | BANK 2022-BNK44                                                                 | CUSIP: 06540KAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3835000 | PA      | $3983397.24   | 0.48%             | 2055-11-15      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| SEB Funding LLC                                                                     | SEB Funding LLC                                                                 | CUSIP: 78433DAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     3017438 | PA      | $2954274.99   | 0.35%             | 2052-01-30      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| NEWS CORP                                                                           | News Corp                                                                       | CUSIP: 65249BAA7<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |      650000 | PA      | $616459.55    | 0.07%             | 2029-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VIATRIS INC                                                                         | Viatris Inc                                                                     | CUSIP: 92556VAF3<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |       65000 | PA      | $41591.86     | 0.00%             | 2050-06-22      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS                                                            | Brandywine Operating Partnership LP                                             | CUSIP: 105340AS2<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              |  | US        |      185000 | PA      | $197002.43    | 0.02%             | 2029-04-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| TPG Real Estate Finance                                                             | TRTX 2022-FL5 Issuer Ltd                                                        | CUSIP: 87277JAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      887192 | PA      | $886585.67    | 0.11%             | 2039-02-15      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                                             | Royal Caribbean Cruises Ltd                                                     | CUSIP: 780153BV3<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     4035000 | PA      | $4049483.47   | 0.48%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| 1345 Trust                                                                          | 1345T 2025-AOA                                                                  | CUSIP: 68271CAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2000000 | PA      | $2004386.80   | 0.24%             | 2030-06-15      | Floating      | 5.90%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                        | UBS Group AG                                                                    | CUSIP: 902613BN7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |      975000 | PA      | $972137.89    | 0.12%             | 2029-09-10      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Emera Inc                                                                           | Emera Inc                                                                       | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |     3300000 | PA      | $3316209.60   | 0.40%             | 2076-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINANCING I                                                              | Vmed O2 UK Financing I PLC                                                      | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |      810000 | PA      | $948474.99    | 0.11%             | 2032-04-15      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| UBS GROUP AG                                                                        | UBS Group AG                                                                    | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |      750000 | PA      | $959868.90    | 0.11%             | 2029-03-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                                            | Occidental Petroleum Corp                                                       | CUSIP: 674599EM3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |       45000 | PA      | $39114.20     | 0.00%             | 2054-10-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| MERCADOLIBRE INC                                                                    | MercadoLibre Inc                                                                | CUSIP: 58733RAF9<br>LEI: 549300DKPDN9M5S8GB14 | Long             | DBT              | CORP              | US        |     1550000 | PA      | $1379584.68   | 0.16%             | 2031-01-14      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                                                            | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp              | CUSIP: 505742AR7<br>LEI: N/A                  | Long             | DBT              |  | US        |      130000 | PA      | $134816.50    | 0.02%             | 2031-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                                              | RR 5 Ltd                                                                        | CUSIP: 74979VAM5<br>LEI: 549300213Q1LH7O32902 | Long             | ABS-CBDO         | CORP              | KY        |     2500000 | PA      | $2508185.00   | 0.30%             | 2039-07-15      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                                                 | Southern California Edison Co                                                   | CUSIP: 842400GT4<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |      150000 | PA      | $97164.81     | 0.01%             | 2050-02-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Notes                                                             | CUSIP: 91282CMU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    61840000 | PA      | $61946287.50  | 7.39%             | 2030-03-31      | Fixed         | 4.00%                 | No            |                  1 | On Loan: No      |
| ROCKET SOFTWARE INC                                                                 | Rocket Software Inc                                                             | CUSIP: 77314EAB4<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |      550000 | PA      | $567461.40    | 0.07%             | 2028-11-28      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MAGNA INTERNATIONAL INC                                                             | Magna International Inc                                                         | CUSIP: 559222BD5<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | DBT              | CORP              | CA        |      500000 | PA      | $503831.24    | 0.06%             | 2035-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UPBOUND GROUP INC                                                                   | Upbound Group Inc                                                               | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |     1205000 | PA      | $1152972.97   | 0.14%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                                                                | Indonesia Treasury Bond                                                         | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  6000000000 | PA      | $364495.40    | 0.04%             | 2034-02-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| TELEFONICA EUROPE BV                                                                | Telefonica Europe BV                                                            | CUSIP: 000000000<br>LEI: 7245007FZS0M65WUGP67 | Long             | DBT              | CORP              | NL        |     1100000 | PA      | $1324546.84   | 0.16%             | 2030-02-03      | Fixed         | 6.14%                 | Yes           |                  2 | On Loan: No      |
| DAI-ICHI LIFE INSURANCE                                                             | Dai-ichi Life Insurance Co Ltd/The                                              | CUSIP: 23381LAA2<br>LEI: 3538001235ACEIORUV72 | Long             | DBT              | CORP              | JP        |     1815000 | PA      | $1801520.81   | 0.22%             | 2035-01-16      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE                                                               | United Parcel Service Inc                                                       | CUSIP: 911312CK0<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |      410000 | PA      | $408028.57    | 0.05%             | 2055-05-14      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                                                                  | Vodafone Group PLC                                                              | CUSIP: 000000000<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |      840000 | PA      | $897743.63    | 0.11%             | 2080-08-27      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Bankers Healthcare Group Securitization Trust                                       | BHG Securitization Trust 2021-A                                                 | CUSIP: 08861YAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      625000 | PA      | $600104.31    | 0.07%             | 2033-11-17      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                                                             | Booz Allen Hamilton Inc                                                         | CUSIP: 09951LAD5<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |       75000 | PA      | $74214.45     | 0.01%             | 2035-04-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                                                                | Kaiser Aluminum Corp                                                            | CUSIP: 483007AJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      185000 | PA      | $179796.49    | 0.02%             | 2028-03-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE INSURANCE                                                             | New York Life Insurance Co                                                      | CUSIP: 64952GAE8<br>LEI: TAE73CY392TBWJ3O3305 | Long             | DBT              | CORP              | US        |     1150000 | PA      | $1193296.65   | 0.14%             | 2033-05-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                                                                       | CoreCivic Inc                                                                   | CUSIP: 21871NAC5<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |      790000 | PA      | $834977.74    | 0.10%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                                                                 | Kinetik Holdings LP                                                             | CUSIP: 49461MAB6<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |     1000000 | PA      | $1019852.67   | 0.12%             | 2028-12-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CIRSA FINANCE INTER                                                                 | Cirsa Finance International Sarl                                                | CUSIP: 000000000<br>LEI: 254900KUJN6DHWH2K029 | Long             | DBT              | CORP              | LU        |      540000 | PA      | $646804.62    | 0.08%             | 2027-11-30      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| ICELAND BONDCO PLC                                                                  | Iceland Bondco PLC                                                              | CUSIP: 000000000<br>LEI: 2138002DRBYIA8QXHO36 | Long             | DBT              | CORP              | GB        |      735000 | PA      | $1049720.88   | 0.13%             | 2027-12-15      | Fixed         | 10.88%                | Yes           |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                                                    | ABN AMRO Bank NV                                                                | CUSIP: 000000000<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |     1000000 | PA      | $1121342.15   | 0.13%             | 2027-09-22      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| MFRA Trust                                                                          | MFA 2020-NQM3 Trust                                                             | CUSIP: 552757AD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      900000 | PA      | $819888.39    | 0.10%             | 2065-01-26      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| Unifin Financiera SAB de CV                                                         | Unifin Financiera SAB de CV                                                     | CUSIP: 000000000<br>LEI: 5493007GRMPGDJG93Z17 | Long             | EC               | CORP              | MX        |       32517 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VIATRIS INC                                                                         | Viatris Inc                                                                     | CUSIP: 92556VAE6<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |     1620000 | PA      | $1151572.16   | 0.14%             | 2040-06-22      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| TELEPERFORMANCE                                                                     | Teleperformance SE                                                              | CUSIP: 000000000<br>LEI: 9695004GI61FHFFNRG61 | Long             | DBT              | CORP              | FR        |      600000 | PA      | $738087.99    | 0.09%             | 2031-11-22      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                                            | OBX 2022-NQM7 Trust                                                             | CUSIP: 67117DAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1136872 | PA      | $1129244.69   | 0.13%             | 2062-08-25      | Variable      | 5.11%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                                              | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC     | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      810000 | PA      | $811995.03    | 0.10%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                                           | Boeing Co/The                                                                   | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |       60000 | PA      | $56185.82     | 0.01%             | 2050-05-01      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                                                            | Venture Global Calcasieu Pass LLC                                               | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |      100000 | PA      | $101377.30    | 0.01%             | 2030-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SALLY HOLDINGS/SALLY CAP                                                            | Sally Holdings LLC / Sally Capital Inc                                          | CUSIP: 79546VAQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      150000 | PA      | $152395.65    | 0.02%             | 2032-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ESSENT GROUP LTD                                                                    | Essent Group Ltd                                                                | CUSIP: 29669JAA7<br>LEI: 254900QUO860OUT6ZF83 | Long             | DBT              | CORP              | BM        |       40000 | PA      | $41233.14     | 0.00%             | 2029-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Bonds                                                             | CUSIP: 912810UC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     9380000 | PA      | $8387771.88   | 1.00%             | 2054-08-15      | Fixed         | 4.25%                 | No            |                  1 | On Loan: No      |
| NEWELL BRANDS INC                                                                   | Newell Brands Inc                                                               | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |      229000 | PA      | $215132.86    | 0.03%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| NBC Funding LLC                                                                     | NBC Funding LLC                                                                 | CUSIP: 62878YAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      850725 | PA      | $862244.75    | 0.10%             | 2054-07-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Wingstop Funding LLC                                                                | Wingstop Funding LLC                                                            | CUSIP: 974153AE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     3000000 | PA      | $3034564.80   | 0.36%             | 2054-12-05      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                                         | RCKT Mortgage Trust 2023-CES3                                                   | CUSIP: 749407AB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2296712 | PA      | $2332246.35   | 0.28%             | 2043-11-25      | Variable      | 7.46%                 | No            |                  2 | On Loan: No      |
| Fontainebleau Miami Beach Trust                                                     | Fontainebleau Miami Beach Mortgage Trust 2024-FBLU                              | CUSIP: 34461WAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2165000 | PA      | $2151468.75   | 0.26%             | 2039-12-15      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Notes                                                             | CUSIP: 91282CLR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    11875000 | PA      | $11960815.40  | 1.43%             | 2029-10-31      | Fixed         | 4.13%                 | No            |                  1 | On Loan: No      |
| Home Partners of America Trust                                                      | Home Partners of America 2021-1 Trust                                           | CUSIP: 437300AG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      400882 | PA      | $348000.96    | 0.04%             | 2041-09-17      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| Five Guys Funding, LLC                                                              | Five Guys Holdings Inc                                                          | CUSIP: 33830JAE5<br>LEI: 549300XWT8G8Q3Z3HJ19 | Long             | ABS-O            | CORP              | US        |     4029750 | PA      | $4149340.08   | 0.50%             | 2054-01-26      | Fixed         | 7.55%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                                                         | FIGRE Trust 2024-HE5                                                            | CUSIP: 31684FAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3766996 | PA      | $3779597.09   | 0.45%             | 2054-10-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                            | Angel Oak Mortgage Trust 2024-8                                                 | CUSIP: 03465QAA2<br>LEI: 254900BM1HTLL3SKQ481 | Long             | ABS-MBS          | CORP              | US        |     1837845 | PA      | $1829017.13   | 0.22%             | 2069-05-27      | Variable      | 5.34%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                                         | PURCHASED JPY / SOLD USD                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | JP        |           1 | NC      | $-61543.56    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BOUYGUES SA                                                                         | Bouygues SA                                                                     | CUSIP: 000000000<br>LEI: 969500MOCLNQFNZN0D63 | Long             | DBT              | CORP              | FR        |      500000 | PA      | $616208.19    | 0.07%             | 2032-06-07      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| 200 PARK FUNDING TRUST                                                              | 200 Park Funding Trust                                                          | CUSIP: 901928AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      720000 | PA      | $694324.40    | 0.08%             | 2055-02-15      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                                                 | NCL Corp Ltd                                                                    | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |      305000 | PA      | $305056.77    | 0.04%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BANCO INDUSTRIAL SA                                                                 | Banco Industrial SA/Guatemala                                                   | CUSIP: 05991CAA1<br>LEI: 529900GF99QF67JEQU85 | Long             | DBT              | CORP              | GT        |      150000 | PA      | $147000.00    | 0.02%             | 2031-01-29      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                                                           | Ball Corp                                                                       | CUSIP: 058498AW6<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |      175000 | PA      | $155103.38    | 0.02%             | 2030-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ENTERGY MISSISSIPPI LLC                                                             | Entergy Mississippi LLC                                                         | CUSIP: 29366WAG1<br>LEI: 54930043I78H35DVVW89 | Long             | DBT              | CORP              | US        |      450000 | PA      | $435104.37    | 0.05%             | 2055-04-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                                            | Celanese US Holdings LLC                                                        | CUSIP: 15089QAZ7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     1500000 | PA      | $1511854.50   | 0.18%             | 2030-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                           | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F020661<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      315000 | PA      | $244698.78    | 0.03%             | 2054-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC                                                              | AthenaHealth Group Inc                                                          | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |      335000 | PA      | $322780.04    | 0.04%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CAIXABANK SA                                                                        | CaixaBank SA                                                                    | CUSIP: 000000000<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |      400000 | PA      | $485693.33    | 0.06%             | 2033-02-23      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                           | Towd Point Mortgage Trust 2019-HY3                                              | CUSIP: 89177XAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      150000 | PA      | $152399.61    | 0.02%             | 2059-10-25      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| BRITISH TELECOMMUNICATIO                                                            | British Telecommunications PLC                                                  | CUSIP: 000000000<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |      600000 | PA      | $863767.55    | 0.10%             | 2083-12-20      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                                                                 | Global Payments Inc                                                             | CUSIP: 37940XAR3<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |       40000 | PA      | $37169.22     | 0.00%             | 2052-08-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                              | US 5YR NOTE (CBT) SEP25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         971 | NC      | $294298.45    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| GEO GROUP INC/THE                                                                   | GEO Group Inc/The                                                               | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |      500000 | PA      | $548073.41    | 0.07%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| ENI SPA                                                                             | Eni SpA                                                                         | CUSIP: 26874RAP3<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |     2995000 | PA      | $2802723.34   | 0.33%             | 2054-05-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                                                                 | Benin Government International Bond                                             | CUSIP: 08205QAA6<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |      400000 | PA      | $366716.17    | 0.04%             | 2038-02-13      | Fixed         | 7.96%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                            | BX Trust 2024-BIO                                                               | CUSIP: 05612AAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      750000 | PA      | $744375.00    | 0.09%             | 2041-02-15      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Bonds                                                             | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    12260000 | PA      | $11692975.00  | 1.40%             | 2055-02-15      | Fixed         | 4.63%                 | No            |                  1 | On Loan: No      |
| NYKREDIT REALKREDIT AS                                                              | Nykredit Realkredit AS                                                          | CUSIP: 000000000<br>LEI: LIU16F6VZJSD6UKHD557 | Long             | DBT              | CORP              | DK        |      600000 | PA      | $677489.02    | 0.08%             | 2026-04-15      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| Citibank NA                                                                         | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | XX        |           1 | NC      | $-24095.97    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| INTACT FINANCIAL CORP                                                               | Intact Financial Corp                                                           | CUSIP: 45823TAL0<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | DBT              | CORP              | CA        |     2725000 | PA      | $2724069.09   | 0.33%             | 2032-09-22      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| 6297782 LLC                                                                         | South Bow USA Infrastructure Holdings LLC                                       | CUSIP: 83007CAC6<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |      835000 | PA      | $827978.92    | 0.10%             | 2029-10-01      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                                                   | Service Corp International/US                                                   | CUSIP: 817565CH5<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |      243000 | PA      | $241478.48    | 0.03%             | 2032-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AKER BP ASA                                                                         | Aker BP ASA                                                                     | CUSIP: 000000000<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |      250000 | PA      | $263197.34    | 0.03%             | 2029-05-12      | Fixed         | 1.13%                 | Yes           |                  2 | On Loan: No      |
| Zayo Issuer LLC                                                                     | Zayo Issuer LLC                                                                 | CUSIP: 98919WAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1500000 | PA      | $1514882.85   | 0.18%             | 2055-06-20      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CCAS LLC                                                                            | CCAS 2024-1 LLC                                                                 | CUSIP: 12516NAD3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     1315000 | PA      | $1329288.53   | 0.16%             | 2031-06-16      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| TPG Real Estate Finance                                                             | TRTX 2025-FL6 Issuer Ltd                                                        | CUSIP: 897764AA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2400000 | PA      | $2398499.28   | 0.29%             | 2042-09-18      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                                            | JP Morgan Mortgage Trust 2020-1                                                 | CUSIP: 46651XBH4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       70106 | PA      | $62439.75     | 0.01%             | 2050-06-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| VERISURE HOLDING AB                                                                 | Verisure Holding AB                                                             | CUSIP: 000000000<br>LEI: 549300VQQCWGISM3N408 | Long             | DBT              | CORP              | SE        |      860000 | PA      | $1015997.72   | 0.12%             | 2030-05-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                                                         | Hertz Vehicle Financing III LLC                                                 | CUSIP: 42806MCE7<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |     3600000 | PA      | $3726288.72   | 0.44%             | 2030-03-25      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK                                                              | Federal Home Loan Banks                                                         | CUSIP: 3133XFJ49<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |      500000 | PA      | $537671.65    | 0.06%             | 2036-03-14      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                                                 | Southern California Edison Co                                                   | CUSIP: 842400JH7<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     1165000 | PA      | $1046095.07   | 0.12%             | 2055-03-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                                                 | PURCHASED USD / SOLD ZAR                                                        | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |           1 | NC      | $-60365.18    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GUARDIAN LIFE INSURANCE                                                             | Guardian Life Insurance Co of America/The                                       | CUSIP: 401378AC8<br>LEI: N1YIDVMMKBHFYCCAIX69 | Long             | DBT              | CORP              | US        |      210000 | PA      | $169619.89    | 0.02%             | 2077-01-24      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| SIGMA HOLDCO BV                                                                     | Sigma Holdco BV                                                                 | CUSIP: 000000000<br>LEI: 254900RAPCKVT00GAO59 | Long             | DBT              | CORP              | NL        |       27324 | PA      | $30912.31     | 0.00%             | 2026-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                      | Morgan Stanley                                                                  | CUSIP: 61747YFV2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     1550000 | PA      | $1476856.55   | 0.18%             | 2055-11-19      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| SEB Funding LLC                                                                     | SEB Funding LLC                                                                 | CUSIP: 78433DAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      780000 | PA      | $793939.07    | 0.09%             | 2054-04-30      | Fixed         | 7.39%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                              | US 10YR ULTRA FUT SEP25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -888 | NC      | $-174860.52   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Golub Capital Partners Funding                                                      | Golub Capital Partners ABS Funding 2024-1                                       | CUSIP: 38179VAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      270000 | PA      | $272053.96    | 0.03%             | 2034-01-25      | Fixed         | 6.89%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                                             | Starwood Property Trust Inc                                                     | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |      640000 | PA      | $649083.52    | 0.08%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Notes                                                             | CUSIP: 91282CMZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    49210000 | PA      | $49013928.66  | 5.85%             | 2030-04-30      | Fixed         | 3.88%                 | No            |                  1 | On Loan: No      |
| Zaxby's Funding LLC                                                                 | Zaxbys Funding LLC                                                              | CUSIP: 98920MAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1602562 | PA      | $1466305.58   | 0.17%             | 2051-07-30      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                                         | PURCHASED USD / SOLD GBP                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |           1 | NC      | $-48322.17    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                         | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | XX        |           1 | NC      | $33214.80     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Bonds                                                             | CUSIP: 912810TW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     2265000 | PA      | $2220673.25   | 0.27%             | 2043-11-15      | Fixed         | 4.75%                 | No            |                  1 | On Loan: No      |
| PSEG POWER LLC                                                                      | PSEG Power LLC                                                                  | CUSIP: 69362BBE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1595000 | PA      | $1606448.80   | 0.19%             | 2035-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HARVEST MIDSTREAM I LP                                                              | Harvest Midstream I LP                                                          | CUSIP: 417558AB9<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |      110000 | PA      | $113016.86    | 0.01%             | 2032-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | Ginnie Mae                                                                      | CUSIP: 21H040665<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      250000 | PA      | $228897.65    | 0.03%             | 2054-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SIG PLC                                                                             | SIG PLC                                                                         | CUSIP: 000000000<br>LEI: 213800VDC1BKJEZ8PV53 | Long             | DBT              | CORP              | GB        |      800000 | PA      | $900411.94    | 0.11%             | 2029-10-31      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                                                         | FIGRE Trust 2023-HE1                                                            | CUSIP: 302455AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      116852 | PA      | $117645.82    | 0.01%             | 2053-03-25      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                                                      | Sabre GLBL Inc                                                                  | CUSIP: 78573NAJ1<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |      802000 | PA      | $824676.60    | 0.10%             | 2027-06-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW CAN INFRA HOLD                                                            | South Bow Canadian Infrastructure Holdings Ltd                                  | CUSIP: 836720AF9<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | CA        |      500000 | PA      | $504680.50    | 0.06%             | 2055-03-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                             | HCA Inc                                                                         | CUSIP: 404121AL9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      690000 | PA      | $650772.38    | 0.08%             | 2054-09-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Notes                                                             | CUSIP: 91282CMT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |       40000 | PA      | $39918.75     | 0.00%             | 2032-03-31      | Fixed         | 4.13%                 | No            |                  1 | On Loan: No      |
| Westlake Corp.                                                                      | Westlake Corp.                                                                  | CUSIP: 960413AV4<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | DBT              | CORP              | US        |      100000 | PA      | $106788.29    | 0.01%             | 2029-07-17      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                                                                | Chart Industries Inc                                                            | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |      175000 | PA      | $182665.18    | 0.02%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** ALLSPRING FUNDS TRUST

**Signature:** Jeremy DePalma

**Name of Signer:** Jeremy DePalma

**Title:** Treasurer