# EDGAR Filing Document

**Accession Number:** 0000819673
**File Stem:** 0001752724-23-068541
**Filing Date:** 2023-3
**Character Count:** 241940
**Document Hash:** 80aca850a190a9235d067b3b79a110a7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-068541.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001752724-23-068541

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS SERIES TRUST VIII
- **CENTRAL INDEX KEY:** 0000819673
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05262
- **FILM NUMBER:** 23766993

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

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

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

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

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

## Series and Classes Contracts Data

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

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

## Nport-Ex

![](img73efed9f1.gif)

### Quarterly Report
January 31, 2023

MFS<sup>®</sup> Income Fund

![](img0ab09ad42.gif)

MFO-Q1

------

### Portfolio of Investments
1/31/23 (unaudited)

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

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Bonds – 98.0% | Bonds – 98.0% | Bonds – 98.0% |
| Aerospace & Defense – 1.2% | Aerospace & Defense – 1.2% | Aerospace & Defense – 1.2% |
| Boeing Co., 2.196%, 2/04/2026 | $2018000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1865697 |
| Boeing Co., 2.95%, 2/01/2030 | &nbsp;&nbsp;&nbsp;453000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400444 |
| Boeing Co., 5.705%, 5/01/2040 | 1359000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390608 |
| Boeing Co., 5.805%, 5/01/2050 | 4282000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4371487 |
| Bombardier, Inc., 7.5%, 2/01/2029 (n) | 3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3496605 |
| Moog, Inc., 4.25%, 12/15/2027 (n) | 2965000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750038 |
| TransDigm, Inc., 6.375%, 6/15/2026 | &nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888737 |
| TransDigm, Inc., 4.625%, 1/15/2029 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2706480 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17870096 |
| Asset-Backed & Securitized – 14.8% | Asset-Backed & Securitized – 14.8% | Asset-Backed & Securitized – 14.8% |
| ACREC 2021-FL1 Ltd., "D", FLR, 7.12% (LIBOR - 1mo. + 2.65%), 10/16/2036 (n) | $2591000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2443594 |
| ACRES 2021-FL2 Issuer Ltd., "C", FLR, 7.115% (LIBOR - 1mo. + 2.65%), 1/15/2037 (n) | 3162000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2988929 |
| Allegro CLO Ltd., 2014-1RA, "C", FLR, 7.815% (LIBOR - 3mo. + 3%), 10/21/2028 (n) | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171903 |
| Arbor Realty Trust, Inc., CLO, 2019-FL2, "D", FLR, 7.043% (SOFR - 30 day + 2.565%), 9/15/2034 (n) | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3816932 |
| Arbor Realty Trust, Inc., CLO, 2019-FL2, FLR, 6.83% (SOFR - 1mo. + 2.15%), 9/15/2034 (n) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2866337 |
| Arbor Realty Trust, Inc., CLO, 2020-FL1, "D", FLR, 7.047% (LIBOR - 1mo. + 2.45%), 2/15/2035 (n) | 1768000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1653563 |
| Arbor Realty Trust, Inc., CLO, 2021-FL1, "B", FLR, 5.923% (LIBOR - 1mo. + 1.5%), 12/15/2035 (n) | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1857646 |
| Arbor Realty Trust, Inc., CLO, 2021-FL1, "C", FLR, 6.423% (LIBOR - 1mo. + 2%), 12/15/2035 (n) | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3788036 |
| Arbor Realty Trust, Inc., CLO, 2021-FL1, "D", FLR, 7.373% (LIBOR - 1mo. + 2.95%), 12/15/2035 (n) | &nbsp;&nbsp;&nbsp;701000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653914 |
| Arbor Realty Trust, Inc., CLO, 2021-FL2, "B", FLR, 6.054% (LIBOR - 1mo. + 1.6%), 5/15/2036 (n) | 2596000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2459658 |
| Arbor Realty Trust, Inc., CLO, 2021-FL2, "C", FLR, 6.404% (LIBOR - 1mo. + 1.95%), 5/15/2036 (n) | &nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350486 |
| Arbor Realty Trust, Inc., CLO, 2021-FL3, "B", FLR, 6.054% (LIBOR - 1mo. + 1.6%), 8/15/2034 (n) | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1831724 |
| Arbor Realty Trust, Inc., CLO, 2021-FL3, "C", FLR, 6.304% (LIBOR - 1mo. + 1.85%), 8/15/2034 (n) | 3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3166443 |
| Arbor Realty Trust, Inc., CLO, 2021-FL3, "D", FLR, 6.654% (LIBOR - 1mo. + 2.2%), 8/15/2034 (n) | &nbsp;&nbsp;&nbsp;539000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498834 |
| Arbor Realty Trust, Inc., CLO, 2021-FL4, "D", FLR, 7.354% (LIBOR - 1mo. + 2.9%), 11/15/2036 (n) | 5743500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5461833 |
| Arbor Realty Trust, Inc., CLO, 2022-FL1, "D", FLR, 7.278% (SOFR - 30 day + 3%), 1/15/2037 (n) | 2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2633761 |
| Arbor Realty Trust, Inc., CLO, 2022-FL1, "E", FLR, 8.029% (SOFR - 30 day + 3.75%), 1/15/2037 (n) | 4500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4198866 |
| Arbor Realty Trust, Inc., CLO, 2022-FL2, FLR, 8.828% (SOFR - 1mo. + 4.35%), 5/15/2037 (n) | 8038000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7905445 |
| AREIT 2019-CRE3 Trust, "D", FLR, 7.247% (LIBOR - 1mo. + 2.65%), 9/14/2036 (n) | 1729000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1615493 |
| AREIT 2022-CRE6 Trust, "E", FLR, 7.71% (SOFR - 30 day + 3.4%), 1/16/2037 (n) | 4500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4312247 |
| AREIT 2022-CRE7 LLC, "B", FLR, 7.726% (SOFR - 1mo. + 3.244%), 6/17/2039 (n) | 6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5866464 |
| Babson CLO Ltd., 2013-IIA, "BR", FLR, 6.058% (LIBOR - 3mo. + 1.25%), 1/20/2028 (n) | 1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1728520 |
| Balboa Bay Loan Funding Ltd., 2020-1A, "CR", FLR, 6.908% (LIBOR - 3mo. + 2.1%), 1/20/2032 (n) | 2083333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1970314 |
| Bayview Financial Revolving Mortgage Loan Trust, FLR, 6.147% (LIBOR - 1mo. + 1.6%), 12/28/2040 (n) | &nbsp;&nbsp;&nbsp;&nbsp;73005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90880 |
| BBCMS Mortgage Trust, 2019-C5, "A4", 3.063%, 11/15/2052 | &nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453187 |
| BBCMS Mortgage Trust, 2022-C18, "AS", 6.148%, 12/15/2055 | 3226076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3461662 |
| BDS 2021-FL9 Ltd., "C", FLR, 6.37% (LIBOR - 1mo. + 1.9%), 11/16/2038 (n) | 4254000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3982182 |
| Benchmark 2019-B10 Mortgage Trust, "AM", 3.979%, 3/15/2062 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;921740 |
| Benchmark 2019-B13 Mortgage Trust, "A4", 2.952%, 8/15/2057 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4492909 |
| BSPDF 2021-FL1 Issuer Ltd., "B", FLR, 6.254% (LIBOR - 1mo. + 1.8%), 10/15/2036 (n) | 1231000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1164075 |
| BSPRT 2019-FL5 Issuer Ltd., "C", FLR, 6.454% (LIBOR - 1mo. + 2%), 5/09/2029 (n) | 1505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1468171 |
| BSPRT 2021-FL6 Issuer Ltd., "C", FLR, 6.504% (LIBOR - 1mo. + 2.05%), 3/15/2036 (n) | 1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191437 |
| BSPRT 2021-FL7 Issuer Ltd., "D", FLR, 7.204% (LIBOR - 1mo. + 2.75%), 12/15/2038 (n) | 3418500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3184904 |
| BSPRT 2022-FL8 Issuer Ltd., "D", FLR, 7.079% (SOFR - 30 day + 2.8%), 2/15/2037 (n) | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3775926 |
| Business Jet Securities LLC, 2020-1A, "A", 2.981%, 11/15/2035 (n) | &nbsp;&nbsp;&nbsp;236290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216803 |
| Business Jet Securities LLC, 2021-1A, "C", 5.067%, 4/15/2036 (n) | &nbsp;&nbsp;&nbsp;280328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246010 |
| BXMT 2021-FL4 Ltd., "B", FLR, 6.009% (LIBOR - 1mo. + 1.55%), 5/15/2038 (n) | 2123000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972108 |
| Capital Automotive, 2020-1A, "B1", REIT, 4.17%, 2/15/2050 (n) | &nbsp;&nbsp;&nbsp;764773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707331 |
| CHCP 2021-FL1 Ltd., "B", FLR, 6.247% (LIBOR - 1mo. + 1.65%), 2/15/2038 (n) | 3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3318705 |
| CHCP 2021-FL1 Ltd., "C", FLR, 6.697% (LIBOR - 1mo. + 2.1%), 2/15/2038 (n) | &nbsp;&nbsp;&nbsp;549500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510991 |
| CLNC 2019-FL1 Ltd., "C", FLR, 6.997% (LIBOR - 1mo. + 2.4%), 8/20/2035 (n) | 1735000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1628516 |
| Columbia Cent CLO 28 Ltd., "B-R", 6.98%, 11/07/2030 (n) | 2083333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1967366 |
| Commercial Equipment Finance 2021-A, LLC, "A", 2.05%, 2/16/2027 (n) | 1257385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212632 |
| Commercial Mortgage Pass-Through Certificates, 2019-BN16, "AS", 4.267%, 2/15/2052 | 2230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100989 |
| Commercial Mortgage Pass-Through Certificates, 2019-BN23, "A3", 2.92%, 12/15/2052 | 5777000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5193265 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Asset-Backed & Securitized – continued | Asset-Backed & Securitized – continued | Asset-Backed & Securitized – continued |
| Commercial Mortgage Pass-Through Certificates, 2019-BNK17, "AS", 3.976%, 4/15/2052 | $5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4641934 |
| Commercial Mortgage Trust, 2015-PC1, "A5", 3.902%, 7/10/2050 | 1805893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1756737 |
| Crest Ltd., CDO, 7%, (0.001% cash or 7% PIK) 1/28/2040 (a)(p) | &nbsp;&nbsp;&nbsp;864986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| Cutwater 2015-1A Ltd., "BR", FLR, 6.592% (LIBOR - 3mo. + 1.8%), 1/15/2029 (n) | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478736 |
| Dryden Senior Loan Fund, 2017-49A, "CR", CLO, FLR, 6.845% (LIBOR - 3mo. + 2.05%), 7/18/2030 (n) | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1917034 |
| DT Auto Owner Trust, 2020-1A, "C", 2.29%, 11/17/2025 (n) | &nbsp;&nbsp;&nbsp;230144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229320 |
| GS Mortgage Securities Trust, 2019-GC40, "AS", 3.412%, 7/10/2052 | 2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1939162 |
| HGI CRE CLO Ltd., 2021-FL3, "D", FLR, 8.029% (SOFR - 30 day + 3.75%), 4/20/2037 (n) | 4500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4333081 |
| HGI CRE CLO Ltd., 2022-FL3, "B", FLR, 6.879% (SOFR - 1mo. + 2.6%), 4/20/2037 (n) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2843895 |
| KREF 2021-FL2 Ltd., "D", FLR, 6.665% (LIBOR - 1mo. + 2.2%), 2/15/2039 (n) | 1837000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1720483 |
| LCCM 2021-FL2 Trust, "C", FLR, 6.609% (LIBOR - 1mo. + 2.15%), 12/13/2038 (n) | 3212500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3096468 |
| LoanCore 2018-CRE1 Ltd., "C", FLR, 7.009% (LIBOR - 1mo. + 2.55%), 5/15/2028 (n) | 1740000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1691355 |
| LoanCore 2018-CRE1 Ltd., "C", FLR, 6.409% (LIBOR - 1mo. + 1.95%), 4/15/2034 (n) | 1355850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1370157 |
| LoanCore 2019-CRE2 Ltd., "D", FLR, 6.909% (LIBOR - 1mo. + 2.45%), 5/15/2036 (n) | 1291000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1263759 |
| LoanCore 2021-CRE5 Ltd., "C", FLR, 6.804% (LIBOR - 1mo. + 2.35%), 7/15/2036 (n) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2736324 |
| Madison Park Funding Ltd., 2017- 23A, "CR", FLR, 6.815% (LIBOR - 3mo. + 2%), 7/27/2031 (n) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2896389 |
| Magnetite CLO Ltd., 2015-16A, "DR", FLR, 6.945% (LIBOR - 3mo. + 2.15%), 1/18/2028 (n) | &nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481678 |
| MF1 2020-FL4 Ltd., "B", FLR, 7.347% (LIBOR - 1mo. + 2.75%), 11/15/2035 (n) | 2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2247226 |
| MF1 2021-FL5 Ltd., "C", FLR, 6.297% (LIBOR - 1mo. + 1.7%), 7/15/2036 (n) | 2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2099961 |
| MF1 2021-FL5 Ltd., "D", FLR, 7.097% (LIBOR - 1mo. + 2.5%), 7/15/2036 (n) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2835144 |
| MF1 2021-FL6 Ltd., "C", FLR, 6.32% (LIBOR - 1mo. + 1.85%), 7/16/2036 (n) | 3357603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3162872 |
| MF1 2022-FL10 Ltd., "B", FLR, 8.223% (SOFR - 1mo. + 3.735%), 9/17/2037 (n) | 7500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7481957 |
| MF1 2022-FL8 Ltd., "E", FLR, 7.46% (SOFR - 30 day + 3.15%), 2/19/2037 (n) | 4500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4176507 |
| MF1 2022-FL9 Ltd., "B", FLR, 7.638% (SOFR - 1mo. + 3.15%), 6/19/2037 (n) | 7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6850879 |
| Neuberger Berman CLO Ltd., 2013-15A, "CR2", FLR, 6.642% (LIBOR - 3mo. + 1.85%), 10/15/2029 (n) | 2286610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2186607 |
| Neuberger Berman CLO Ltd., 2016-21A, "CR2", 6.858%, 4/20/2034 (n) | 1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1694744 |
| Oaktree CLO 2019-1A Ltd., "CR", FLR, 7.165% (LIBOR - 3mo. + 2.35%), 4/22/2030 (n) | 3236356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3088170 |
| Palmer Square Loan Funding 2020-1A Ltd., "B", FLR, 6.575% (LIBOR - 3mo. + 1.9%), 2/20/2028 (n) | &nbsp;&nbsp;&nbsp;879778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867578 |
| Palmer Square Loan Funding 2021-4A Ltd., "A1", FLR, 5.592% (LIBOR - 3mo. + 0.8%), 10/15/2029 (n) | 4038131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3994478 |
| Palmer Square Loan Funding 2022-5A Ltd., "A1", FLR, 6.218% (SOFR - 3mo. + 1.56%), 1/15/2031 (n) | 7233877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7204551 |
| Parallel 2015-1A Ltd., "DR", FLR, 7.358% (LIBOR - 3mo. + 2.55%), 7/20/2027 (n) | 1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1742694 |
| PFP III 2021-7 Ltd., "C", FLR, 6.104% (LIBOR - 1mo. + 1.65%), 4/14/2038 (n) | &nbsp;&nbsp;&nbsp;431478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401527 |
| PFP III 2021-8 Ltd., "D", FLR, 6.604% (LIBOR - 1mo. + 2.15%), 8/09/2037 (n) | 4274000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3987650 |
| Race Point CLO Ltd., 2013-8A, "CR2", FLR, 6.725% (LIBOR - 3mo. + 2.05%), 2/20/2030 (n) | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439069 |
| ReadyCap Commercial Mortgage Trust, 2021-FL7, "D", FLR, 7.456% (LIBOR - 1mo. + 2.95%), 11/25/2036 (n) | 1770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635246 |
| Securitized Term Auto Receivable Trust, 2019-CRTA, "C", 2.849%, 3/25/2026 (n) | &nbsp;&nbsp;&nbsp;112257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111792 |
| Shackleton 2015-8A CLO Ltd., "CR", FLR, 6.458% (LIBOR - 3mo. + 1.65%), 10/20/2027 (n) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977194 |
| Starwood Commercial Mortgage, 2021-FL2, "D", 7.27%, 4/18/2038 (n) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2767988 |
| Starwood Commercial Mortgage, 2022-FL3, "D", FLR, 7.029% (SOFR - 30 day + 2.75%), 11/15/2038 (n) | 2750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2584047 |
| TPG Real Estate Finance, 2021-FL4, "B", FLR, 6.314% (LIBOR - 1mo. + 1.85%), 3/15/2038 (n) | 2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2564660 |
| UBS Commercial Mortgage Trust, 2017-C7, "A4", 3.679%, 12/15/2050 | 1052000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997906 |
| Voya CLO 2012-4A Ltd., "C1R3", FLR, 8.092% (LIBOR - 3mo. + 3.3%), 10/15/2030 (n) | 1737638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1624589 |
| Voya CLO 2016-1A Ltd., "A2R", FLR, 6.201% (SOFR - 3mo. + 1.562%), 1/20/2031 (n) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;961348 |
| Voya CLO 2016-1A Ltd., "BR", FLR, 6.701% (SOFR - 3mo. + 2.061%), 1/20/2031 (n) | 2910000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2676196 |
| Wells Fargo Commercial Mortgage Trust, 2016-C34, "A4", 3.096%, 6/15/2049 | 1740000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1637955 |
| Wells Fargo Commercial Mortgage Trust, 2017-C42, "A5", 3.589%, 12/15/2050 | 3490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3289575 |
| Wells Fargo Commercial Mortgage Trust, 2017-RB1, "A5", 3.635%, 3/15/2050 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1421399 |
| Wells Fargo Commercial Mortgage Trust, 2018-C44, 4.212%, 5/15/2051 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1460411 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$223071172 |
| Automotive – 0.9% | Automotive – 0.9% | Automotive – 0.9% |
| Hyundai Capital America, 2.1%, 9/15/2028 (n) | $2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1694827 |
| Hyundai Capital America, 6.375%, 4/08/2030 (n) | 6896000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7247963 |
| Stellantis N.V., 2.691%, 9/15/2031 (n) | 5147000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4148314 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13091104 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Broadcasting – 1.1% | Broadcasting – 1.1% | Broadcasting – 1.1% |
| Discovery, Inc., 4.65%, 5/15/2050 | $&nbsp;&nbsp;&nbsp;857000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$669261 |
| Gray Escrow II, Inc., 5.375%, 11/15/2031 (n) | 6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4614150 |
| iHeartCommunications, Inc., 8.375%, 5/01/2027 | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3585000 |
| Prosus N.V., 3.257%, 1/19/2027 (n) | 1975000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1793018 |
| Warnermedia Holdings, Inc., 5.141%, 3/15/2052 (n) | 7295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6058939 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16720368 |
| Brokerage & Asset Managers – 0.8% | Brokerage & Asset Managers – 0.8% | Brokerage & Asset Managers – 0.8% |
| Charles Schwab Corp., 5% to 6/01/2027, FLR (CMT - 5yr. + 3.256%) to 6/01/2170 | $3272000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3157480 |
| LPL Holdings, Inc., 4.625%, 11/15/2027 (n) | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4758200 |
| LPL Holdings, Inc., 4%, 3/15/2029 (n) | 1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1163500 |
| Morgan Stanley Domestic Holdings, Inc., 4.5%, 6/20/2028 | 1958000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1954199 |
| Raymond James Financial, Inc., 4.65%, 4/01/2030 | 1069000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1063093 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12096472 |
| Building – 1.0% | Building – 1.0% | Building – 1.0% |
| ABC Supply Co., Inc., 4%, 1/15/2028 (n) | $2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2459889 |
| Patrick Industries, Inc., 4.75%, 5/01/2029 (n) | 6300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5385555 |
| Standard Industries, Inc., 4.375%, 7/15/2030 (n) | 6900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5898609 |
| Standard Industries, Inc., 3.375%, 1/15/2031 (n) | 2600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2064966 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15809019 |
| Business Services – 0.7% | Business Services – 0.7% | Business Services – 0.7% |
| Global Payments, Inc., 2.9%, 5/15/2030 | $3563000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3057926 |
| Global Payments, Inc., 2.9%, 11/15/2031 | 6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4998638 |
| Iron Mountain, Inc., 4.5%, 2/15/2031 (n) | 2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2313603 |
| RELX Capital, Inc., 3%, 5/22/2030 | &nbsp;&nbsp;&nbsp;674000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598588 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10968755 |
| Cable TV – 1.5% | Cable TV – 1.5% | Cable TV – 1.5% |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.5%, 8/15/2030 (n) | $3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2819718 |
| Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 3.9%, 6/01/2052 | 1824000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1244616 |
| Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 5.25%, 4/01/2053 | 5342000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4486137 |
| CSC Holdings LLC, 4.125%, 12/01/2030 (n) | 4600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400642 |
| Sirius XM Radio, Inc., 5.5%, 7/01/2029 (n) | 4800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4498320 |
| Time Warner Cable, Inc., 4.5%, 9/15/2042 | 2031000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1615363 |
| Virgin Media Finance PLC, 5%, 7/15/2030 (n) | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4196950 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22261746 |
| Chemicals – 0.3% | Chemicals – 0.3% | Chemicals – 0.3% |
| Axalta Coating Systems Ltd., 3.375%, 2/15/2029 (n) | $3600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3096000 |
| Sasol Financing (USA) LLC, 5.5%, 3/18/2031 | 2519000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2197827 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5293827 |
| Computer Software – 0.8% | Computer Software – 0.8% | Computer Software – 0.8% |
| Clarivate Science Holdings Corp., 4.875%, 7/01/2029 (n) | $7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6159475 |
| Dell International LLC/EMC Corp., 5.3%, 10/01/2029 | 1388000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401185 |
| Oracle Corp., 6.15%, 11/09/2029 | 4021000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4297862 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11858522 |
| Computer Software - Systems – 0.1% | Computer Software - Systems – 0.1% | Computer Software - Systems – 0.1% |
| SS&C Technologies Holdings, Inc., 5.5%, 9/30/2027 (n) | $1965000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1889827 |
| Conglomerates – 1.5% | Conglomerates – 1.5% | Conglomerates – 1.5% |
| BWX Technologies, Inc., 4.125%, 6/30/2028 (n) | $2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2256264 |
| Gates Global LLC, 6.25%, 1/15/2026 (n) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2954513 |
| Regal Rexnord Corp., 6.3%, 2/15/2030 (n) | 4486000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4574208 |
| Regal Rexnord Corp., 6.4%, 4/15/2033 (n) | 4714000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4833385 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Conglomerates – continued | Conglomerates – continued | Conglomerates – continued |
| Westinghouse Air Brake Technologies Corp., 4.95%, 9/15/2028 | $&nbsp;&nbsp;7534000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7483792 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22102162 |
| Construction – 0.3% | Construction – 0.3% | Construction – 0.3% |
| Mattamy Group Corp., 5.25%, 12/15/2027 (n) | $&nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2653500 |
| Taylor Morrison Communities, Inc., 5.75%, 1/15/2028 (n) | &nbsp;&nbsp;2333000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2263045 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4916545 |
| Consumer Products – 0.5% | Consumer Products – 0.5% | Consumer Products – 0.5% |
| Energizer Holdings, Inc., 4.375%, 3/31/2029 (n) | $&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5210520 |
| GSK Consumer Healthcare Capital US LLC, 3.625%, 3/24/2032 | &nbsp;&nbsp;2275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2082671 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7293191 |
| Consumer Services – 1.0% | Consumer Services – 1.0% | Consumer Services – 1.0% |
| Expedia Group, Inc., 3.25%, 2/15/2030 | $&nbsp;&nbsp;3950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3472333 |
| Match Group Holdings II LLC, 5%, 12/15/2027 (n) | &nbsp;&nbsp;1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725957 |
| Match Group Holdings II LLC, 3.625%, 10/01/2031 (n) | &nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1364250 |
| Meituan, 3.05%, 10/28/2030 (n) | &nbsp;&nbsp;4581000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3727980 |
| Realogy Group LLC/Realogy Co-Issuer Corp., 5.75%, 1/15/2029 (n) | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3110160 |
| Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2026 (n) | &nbsp;&nbsp;&nbsp;&nbsp;307000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248114 |
| Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2029 (n) | &nbsp;&nbsp;&nbsp;&nbsp;889000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580774 |
| Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2031 (n) | &nbsp;&nbsp;&nbsp;&nbsp;307000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174171 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14403739 |
| Electronics – 0.9% | Electronics – 0.9% | Electronics – 0.9% |
| Broadcom, Inc., 4.3%, 11/15/2032 | $&nbsp;&nbsp;5334000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4911929 |
| Broadcom, Inc., 3.187%, 11/15/2036 (n) | &nbsp;&nbsp;2240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1712808 |
| NXP B.V./NXP Funding LLC/NXP USA, Inc., 3.4%, 5/01/2030 | &nbsp;&nbsp;1305000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1167827 |
| SK Hynix, Inc., 6.375%, 1/17/2028 (n) | &nbsp;&nbsp;5733000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5820104 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13612668 |
| Emerging Market Quasi-Sovereign – 0.9% | Emerging Market Quasi-Sovereign – 0.9% | Emerging Market Quasi-Sovereign – 0.9% |
| Eskom Holdings SOC Ltd., 8.45%, 8/10/2028 (n) | $&nbsp;&nbsp;2980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2855537 |
| Huarong Finance Co. Ltd. (People's Republic of China), 3.375%, 2/24/2030 | &nbsp;&nbsp;4145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3217364 |
| Ipoteka Bank (Republic of Uzbekistan), 5.5%, 11/19/2025 | &nbsp;&nbsp;2618000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2441285 |
| Petroleos Mexicanos, 5.95%, 1/28/2031 | &nbsp;&nbsp;3769000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3017249 |
| PT Bank Negara Indonesia (Persero) Tbk, 3.75%, 3/30/2026 | &nbsp;&nbsp;2499000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2337814 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13869249 |
| Emerging Market Sovereign – 1.3% | Emerging Market Sovereign – 1.3% | Emerging Market Sovereign – 1.3% |
| Dominican Republic, 4.875%, 9/23/2032 (n) | $&nbsp;&nbsp;2295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1953705 |
| Hashemite Kingdom of Jordan, 7.375%, 10/10/2047 | &nbsp;&nbsp;3604000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3236493 |
| Republic of Angola, 8%, 11/26/2029 | &nbsp;&nbsp;3070000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2845767 |
| Republic of Cote d'Ivoire, 4.875%, 1/30/2032 (n) | &nbsp;&nbsp;1864000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1586100 |
| Republic of South Africa, 7.3%, 4/20/2052 | $&nbsp;&nbsp;2905000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2614500 |
| Republic of Turkey, 9.375%, 1/19/2033 | &nbsp;&nbsp;2960000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2898740 |
| United Mexican States, 7.75%, 5/29/2031 | 78800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3956048 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19091353 |
| Energy - Independent – 0.9% | Energy - Independent – 0.9% | Energy - Independent – 0.9% |
| Energean PLC, 6.5%, 4/30/2027 (n) | $&nbsp;&nbsp;1781000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1666660 |
| EQT Corp., 5%, 1/15/2029 | &nbsp;&nbsp;6987000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6772988 |
| Leviathan Bond Ltd., 6.75%, 6/30/2030 (n) | &nbsp;&nbsp;1834000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1781078 |
| Medco Laurel Tree Pte. Ltd., 6.95%, 11/12/2028 (n) | &nbsp;&nbsp;3625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3453064 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13673790 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Energy - Integrated – 0.3% | Energy - Integrated – 0.3% | Energy - Integrated – 0.3% |
| Cenovus Energy, Inc., 3.75%, 2/15/2052 | $2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2054931 |
| Eni S.p.A., 4%, 9/12/2023 (n) | 1342000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1332472 |
| Eni S.p.A., 4.25%, 5/09/2029 (n) | 1685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1601005 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4988408 |
| Financial Institutions – 2.3% | Financial Institutions – 2.3% | Financial Institutions – 2.3% |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 6.5%, 7/15/2025 | $1568000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1596695 |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.65%, 7/21/2027 | 2698000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2506828 |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.3%, 1/30/2032 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4198046 |
| Air Lease Corp., 5.85%, 12/15/2027 | 9322000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9513965 |
| Air Lease Corp., 2.875%, 1/15/2032 | 5633000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4626835 |
| Avolon Holdings Funding Ltd., 3.25%, 2/15/2027 (n) | 2342000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2113731 |
| Avolon Holdings Funding Ltd., 2.75%, 2/21/2028 (n) | 6117000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5270007 |
| Global Aircraft Leasing Co. Ltd., 6.5% (6.5% cash or 7.25% PIK), 9/15/2024 (n)(p) | 2624681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2395241 |
| Shriram Transport Finance Co. Ltd., 4.4%, 3/13/2024 (n) | 1692000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1630665 |
| Sunac China Holdings Ltd., 7.5%, 2/01/2024 (a) | 1057000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299925 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34151938 |
| Food & Beverages – 1.0% | Food & Beverages – 1.0% | Food & Beverages – 1.0% |
| Anheuser-Busch InBev Worldwide, Inc., 4.439%, 10/06/2048 | $&nbsp;&nbsp;&nbsp;874509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$805430 |
| Bacardi Ltd., 5.15%, 5/15/2038 (n) | &nbsp;&nbsp;&nbsp;955000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936072 |
| Central America Bottling Co., 5.25%, 4/27/2029 (n) | 2293000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2201945 |
| JBS USA Lux S.A./JBS USA Finance, Inc., 5.5%, 1/15/2030 (n) | 1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1749150 |
| JBS USA Lux S.A./JBS USA Food Co./JBS USA Finance, Inc., 5.75%, 4/01/2033 (n) | 4179000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4097760 |
| Post Holdings, Inc., 4.625%, 4/15/2030 (n) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2640000 |
| PT Indofood CBP Sukses Makmur Tbk, 3.541%, 4/27/2032 | 2536000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2123900 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14554257 |
| Gaming & Lodging – 1.3% | Gaming & Lodging – 1.3% | Gaming & Lodging – 1.3% |
| Caesars Entertainment, Inc., 7%, 2/15/2030 (n) | $4429000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4506508 |
| GENM Capital Labuan Ltd., 3.882%, 4/19/2031 (n) | 1276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035518 |
| GLP Capital LP/GLP Financing II, Inc., 4%, 1/15/2030 | 2062000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1862652 |
| GLP Capital LP/GLP Financing II, Inc., 4%, 1/15/2031 | &nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353211 |
| Marriott International, Inc., 4.625%, 6/15/2030 | 5561000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5424284 |
| Marriott International, Inc., 2.85%, 4/15/2031 | &nbsp;&nbsp;&nbsp;654000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556633 |
| Marriott International, Inc., 2.75%, 10/15/2033 | 4537000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3678564 |
| Wyndham Hotels & Resorts, Inc., 4.375%, 8/15/2028 (n) | 2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2490225 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19907595 |
| Insurance – 0.8% | Insurance – 0.8% | Insurance – 0.8% |
| Corebridge Financial, Inc., 4.35%, 4/05/2042 (n) | $&nbsp;&nbsp;&nbsp;473000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$410452 |
| Corebridge Financial, Inc., 4.4%, 4/05/2052 (n) | 1412000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1209118 |
| Corebridge Financial, Inc., 6.875% to 12/15/2027, FLR (CMT - 5yr. + 3.846%) to 12/15/2052 (n) | 4850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4824487 |
| Equitable Holdings, Inc., 5.594%, 1/11/2033 | 6136000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6282332 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12726389 |
| Insurance - Health – 0.5% | Insurance - Health – 0.5% | Insurance - Health – 0.5% |
| Humana, Inc., 5.875%, 3/01/2033 | $6962000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7450584 |
| Insurance - Property & Casualty – 2.1% | Insurance - Property & Casualty – 2.1% | Insurance - Property & Casualty – 2.1% |
| Alliant Holdings Intermediate LLC, 6.75%, 10/15/2027 (n) | $4750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4442817 |
| Allied World Assurance Co. Holdings Ltd., 4.35%, 10/29/2025 | 2170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2098392 |
| Aon Corp., 4.5%, 12/15/2028 | 2909000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2877361 |
| Aon Corp./Aon Global Holdings PLC, 2.6%, 12/02/2031 | 2471000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2095069 |
| Brown & Brown, Inc., 4.95%, 3/17/2052 | 4125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3719687 |
| Fairfax Financial Holdings Ltd., 4.85%, 4/17/2028 | 2201000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2137836 |
| Fairfax Financial Holdings Ltd., 3.375%, 3/03/2031 | &nbsp;&nbsp;&nbsp;452000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384388 |
| Fairfax Financial Holdings Ltd., 5.625%, 8/16/2032 (n) | 9062000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8820451 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Insurance - Property & Casualty – continued | Insurance - Property & Casualty – continued | Insurance - Property & Casualty – continued |
| Hub International Ltd., 5.625%, 12/01/2029 (n) | $5850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5235001 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$31811002 |
| Machinery & Tools – 0.6% | Machinery & Tools – 0.6% | Machinery & Tools – 0.6% |
| Ashtead Capital, Inc., 5.5%, 8/11/2032 (n) | $5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5015224 |
| Ashtead Capital, Inc., 5.55%, 5/30/2033 (n) | 1861000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1867870 |
| CNH Industrial Capital LLC, 4.2%, 1/15/2024 | 1076000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066434 |
| CNH Industrial N.V., 3.85%, 11/15/2027 | 1025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996090 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8945618 |
| Major Banks – 6.5% | Major Banks – 6.5% | Major Banks – 6.5% |
| Banco Mercantil del Norte S.A., 6.625% to 1/24/2032, FLR (CMT - 10yr. + 5.034%) to 1/24/2171 | $3789000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3344956 |
| Bank of America Corp., 4.271% to 7/23/2028, FLR (LIBOR - 3mo. + 1.31%) to 7/23/2029 | &nbsp;&nbsp;&nbsp;579000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559713 |
| Bank of America Corp., 2.572% to 10/20/2031, FLR (SOFR + 1.21%) to 10/20/2032 | 8268000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6836370 |
| Bank of America Corp., 5.015% to 7/22/2032, FLR (SOFR - 1 day + 2.16%) to 7/22/2033 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2998189 |
| Bank of America Corp., 3.846% to 3/08/2032, FLR (CMT - 1yr. + 2%) to 3/08/2037 | 4785000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4169812 |
| Bank of New York Mellon Corp., 4.7% to 9/20/2025, FLR (CMT - 5yr. + 4.358%) to 9/20/2070 | 1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1759450 |
| Barclays PLC, 4.375%, 1/12/2026 | 1325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1298253 |
| Barclays PLC, 7.437% to 11/02/2032, FLR (CMT - 1yr. + 3.5%) to 11/02/2033 | 5487000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6182249 |
| Capital One Financial Corp., 3.273% to 3/01/2029, FLR (SOFR - 1 day + 1.79%) to 3/01/2030 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4429664 |
| Deutsche Bank AG, 2.311% to 11/16/2026, FLR (SOFR - 1 day + 1.219%) to 11/16/2027 | 2217000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1959431 |
| Deutsche Bank AG, 6.72% to 1/18/2028, FLR (SOFR - 1 day + 3.18%) to 1/18/2029 | 8912000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9377512 |
| Goldman Sachs Group, Inc., 2.65% to 10/21/2031, FLR (SOFR - 1 day + 1.264%) to 10/21/2032 | 6695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5522667 |
| Goldman Sachs Group, Inc., 3.102% to 2/24/2032, FLR (SOFR - 1 day + 1.41%) to 2/24/2033 | 4410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3779201 |
| HSBC Holdings PLC, 4.7% to 9/09/2031, FLR (CMT - 1yr. + 3.25%) to 9/09/2169 | 1150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974913 |
| HSBC Holdings PLC, 4% to 9/09/2026, FLR (CMT - 1yr. + 3.222%) to 9/09/2170 | &nbsp;&nbsp;&nbsp;536000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480524 |
| JPMorgan Chase & Co., 4.851% to 7/25/2027, FLR (SOFR - 1 day + 1.99%) to 7/25/2028 | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3998987 |
| JPMorgan Chase & Co., 2.956% to 5/13/2030, FLR (SOFR - 1 day + 2.515%) to 5/13/2031 | &nbsp;&nbsp;&nbsp;726000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629843 |
| JPMorgan Chase & Co., 2.963% to 1/25/2032, FLR (SOFR - 1 day + 1.26%) to 1/25/2033 | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3428871 |
| Morgan Stanley, 4.679% to 7/17/2025, FLR (SOFR - 1 day + 1.669%) to 7/17/2026 | 6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5949853 |
| Morgan Stanley, 2.511% to 10/20/2031, FLR (SOFR - 1 day + 1.2%) to 10/20/2032 | 7539000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6226136 |
| UBS Group AG, 4.703% to 8/05/2026, FLR (CMT - 1yr. + 2.05%) to 8/05/2027 (n) | 3165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3123934 |
| UBS Group AG, 5.959%, 1/12/2034 (n) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3160025 |
| UBS Group AG, 4.375% to 2/10/2031, FLR (CMT - 1yr. + 3.313%) to 8/10/2171 (n) | 2746000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2251445 |
| UBS Group Funding (Switzerland) AG, 4.253%, 3/23/2028 (n) | 1618000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1557951 |
| Wells Fargo & Co., 2.572% to 2/11/2030, FLR (LIBOR - 3mo. +1%) to 2/11/2031 | 5515000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4752725 |
| Wells Fargo & Co., 3.35% to 3/02/2032, FLR (SOFR - 1 day + 1.5%) to 3/02/2033 | 4571000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4030715 |
| Wells Fargo & Co., 3.9% to 3/15/2026, FLR (CMT - 1yr. + 3.453%) to 3/15/2071 | 4785000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4411172 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$97194561 |
| Medical & Health Technology & Services – 2.0% | Medical & Health Technology & Services – 2.0% | Medical & Health Technology & Services – 2.0% |
| Adventist Health System/West, 5.43%, 3/01/2032 | $5185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5297390 |
| Alcon Finance Corp., 5.75%, 12/06/2052 (n) | 6027000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6520071 |
| DaVita, Inc., 4.625%, 6/01/2030 (n) | 4100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3454250 |
| HCA, Inc., 4.625%, 3/15/2052 (n) | 7619000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6426416 |
| ProMedica Toledo Hospital, "B", 5.325%, 11/15/2028 | 1437000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172384 |
| ProMedica Toledo Hospital, "B", AGM, 5.75%, 11/15/2038 | &nbsp;&nbsp;&nbsp;568000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571778 |
| Syneos Health, Inc., 3.625%, 1/15/2029 (n) | 7300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5903875 |
| Tower Health, 4.451%, 2/01/2050 | 1730000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807754 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$30153918 |
| Metals & Mining – 1.6% | Metals & Mining – 1.6% | Metals & Mining – 1.6% |
| Anglo American Capital PLC, 2.25%, 3/17/2028 (n) | $&nbsp;&nbsp;&nbsp;992000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$867812 |
| Anglo American Capital PLC, 2.875%, 3/17/2031 (n) | 1161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997199 |
| Anglo American Capital PLC, 4.75%, 3/16/2052 (n) | 5361000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4860088 |
| Eldorado Gold Corp., 6.25%, 9/01/2029 (n) | 3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3207357 |
| Glencore Funding LLC, 2.85%, 4/27/2031 (n) | 7907000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6772016 |
| Novelis Corp., 3.25%, 11/15/2026 (n) | &nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226330 |
| Novelis Corp., 3.875%, 8/15/2031 (n) | 4600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3882400 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Metals & Mining – continued | Metals & Mining – continued | Metals & Mining – continued |
| Prumo Participacoes e Investimentos S.A., 7.5%, 12/31/2031 | $3276513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3159509 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$23972711 |
| Midstream – 3.2% | Midstream – 3.2% | Midstream – 3.2% |
| Cheniere Corpus Christi Holdings LLC, 3.7%, 11/15/2029 | $2125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1995587 |
| Cheniere Corpus Christi Holdings LLC, 2.742%, 12/31/2039 | &nbsp;&nbsp;&nbsp;963000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789256 |
| DCP Midstream Operating, LP, 3.25%, 2/15/2032 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4322475 |
| Enbridge, Inc., 3.125%, 11/15/2029 | 1344000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1211607 |
| Enbridge, Inc., 2.5%, 8/01/2033 | 1923000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570143 |
| Energy Transfer LP, 5.75%, 2/15/2033 | 7766000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7981118 |
| MPLX LP, 4.5%, 4/15/2038 | 2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1998505 |
| MPLX LP, 4.95%, 3/14/2052 | 3699000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3278388 |
| Plains All American Pipeline LP, 3.8%, 9/15/2030 | 4057000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3685625 |
| Sabine Pass Liquefaction LLC, 4.5%, 5/15/2030 | 3285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3188730 |
| Targa Resources Corp., 6.125%, 3/15/2033 | 5394000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5626848 |
| Targa Resources Corp., 4.95%, 4/15/2052 | 5521000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4727321 |
| Venture Global Calcasieu Pass LLC , 6.25%, 1/15/2030 (n) | 7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7131460 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$47507063 |
| Mortgage-Backed – 0.0% | Mortgage-Backed – 0.0% |  |
| Fannie Mae, 6.5%, 5/01/2031 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8445 |
| Fannie Mae, 3%, 2/25/2033 (i) | &nbsp;&nbsp;&nbsp;223680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20499 |
| Fannie Mae, 5.5%, 9/01/2034 - 11/01/2036 | &nbsp;&nbsp;&nbsp;&nbsp;25659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26852 |
| Fannie Mae, 6%, 11/01/2034 | &nbsp;&nbsp;&nbsp;&nbsp;80993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84718 |
| Fannie Mae, UMBS, 2.5%, 3/01/2050 | &nbsp;&nbsp;&nbsp;&nbsp;50226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44445 |
| Freddie Mac, 0.903%, 4/25/2024 (i) | &nbsp;&nbsp;&nbsp;&nbsp;65338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566 |
| Ginnie Mae, 3%, 9/20/2047 | &nbsp;&nbsp;&nbsp;&nbsp;90374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84049 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$269574 |
| Municipals – 0.9% | Municipals – 0.9% | Municipals – 0.9% |
| Bridgeview, IL, Stadium and Redevelopment Projects, Taxable, AAC, 5.14%, 12/01/2036 | $1205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1100436 |
| Escambia County, FL, Health Facilities Authority Rev., Taxable (Baptist Health Care Corp.), "B", AGM, 3.607%, 8/15/2040 | 1730000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1389663 |
| New Jersey Economic Development Authority State Pension Funding Rev., Capital Appreciation, Taxable, "B", AGM, 0%, 2/15/2023 | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2495580 |
| New Jersey Economic Development Authority State Pension Funding Rev., Taxable, "A", NPFG, 7.425%, 2/15/2029 | 1155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1269096 |
| Oklahoma Development Finance Authority, Health System Rev., Taxable (OU Medicine Project), "C", 5.45%, 8/15/2028 | 3750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3069905 |
| Port Beaumont, TX, Industrial Development Authority Facility Rev., Taxable (Jefferson Gulf Coast Energy Project), "B", 4.1%, 1/01/2028 (n) | 2755000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208091 |
| Puerto Rico Electric Power Authority Rev., "A", 5%, 7/01/2042 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20925 |
| Puerto Rico Electric Power Authority Rev., "ZZ", 5%, 7/01/2018 (a)(d) | &nbsp;&nbsp;&nbsp;455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312813 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, Taxable, "2019A-1", 4.55%, 7/01/2040 | 1326000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044510 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12911019 |
| Natural Gas - Distribution – 0.3% | Natural Gas - Distribution – 0.3% | Natural Gas - Distribution – 0.3% |
| Boston Gas Co., 3.757%, 3/16/2032 (n) | $5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4571095 |
| Network & Telecom – 0.2% | Network & Telecom – 0.2% | Network & Telecom – 0.2% |
| Total Play Telecomunicaciones S.A. de C.V., 6.375%, 9/20/2028 | $3520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2979293 |
| Oil Services – 0.2% | Oil Services – 0.2% | Oil Services – 0.2% |
| Acu Petroleo Luxembourg S.à r.l., 7.5%, 1/13/2032 (n) | $2854558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2686824 |
| Oils – 0.2% | Oils – 0.2% | Oils – 0.2% |
| MC Brazil Downstream Trading S.à r.l., 7.25%, 6/30/2031 (n) | $3294918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2874112 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| Other Banks & Diversified Financials – 2.3% | Other Banks & Diversified Financials – 2.3% | Other Banks & Diversified Financials – 2.3% |
| Discover Financial Services, 6.7%, 11/29/2032 | $&nbsp;&nbsp;9610000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10258512 |
| Macquarie Group Ltd., 4.442% to 6/21/2032, FLR (SOFR - 1 day + 2.405%) to 6/21/2033 (n) | &nbsp;&nbsp;8358000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7613131 |
| Northern Trust Corp., 6.125%, 11/02/2032 | &nbsp;&nbsp;6550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7201634 |
| Synchrony Financial, 7.25%, 2/02/2033 | &nbsp;&nbsp;7500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7509609 |
| Uzbek Industrial and Construction Bank, 5.75%, 12/02/2024 | &nbsp;&nbsp;1424000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1374160 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$33957046 |
| Personal Computers & Peripherals – 0.3% | Personal Computers & Peripherals – 0.3% | Personal Computers & Peripherals – 0.3% |
| NCR Corp., 5.125%, 4/15/2029 (n) | $&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5226325 |
| Pharmaceuticals – 0.4% | Pharmaceuticals – 0.4% | Pharmaceuticals – 0.4% |
| Jazz Securities DAC, 4.375%, 1/15/2029 (n) | $&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2737020 |
| Organon Finance 1 LLC, 4.125%, 4/30/2028 (n) | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2713350 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5450370 |
| Printing & Publishing – 0.2% | Printing & Publishing – 0.2% | Printing & Publishing – 0.2% |
| Cimpress N.V., 7%, 6/15/2026 (n) | $&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2430030 |
| Real Estate - Office – 0.4% | Real Estate - Office – 0.4% | Real Estate - Office – 0.4% |
| Boston Properties Ltd. LP, REIT, 2.55%, 4/01/2032 | $&nbsp;&nbsp;7442000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5874264 |
| Retailers – 0.1% | Retailers – 0.1% | Retailers – 0.1% |
| Alimentation Couche-Tard, Inc., 2.95%, 1/25/2030 (n) | $&nbsp;&nbsp;2180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1905065 |
| Specialty Chemicals – 0.1% | Specialty Chemicals – 0.1% | Specialty Chemicals – 0.1% |
| Braskem Idesa S.A.P.I., 6.99%, 2/20/2032 | $&nbsp;&nbsp;2605000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1929263 |
| Specialty Stores – 0.9% | Specialty Stores – 0.9% | Specialty Stores – 0.9% |
| DICK'S Sporting Goods, 3.15%, 1/15/2032 | $11095000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9078152 |
| Genuine Parts Co., 2.75%, 2/01/2032 | &nbsp;&nbsp;5031000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4191394 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13269546 |
| Telecommunications - Wireless – 1.0% | Telecommunications - Wireless – 1.0% | Telecommunications - Wireless – 1.0% |
| American Tower Corp., REIT, 3.55%, 7/15/2027 | $&nbsp;&nbsp;1237000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1168250 |
| Cellnex Finance Co. S.A., 3.875%, 7/07/2041 (n) | &nbsp;&nbsp;1582000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1167765 |
| Crown Castle, Inc., REIT, 4.15%, 7/01/2050 | &nbsp;&nbsp;2318000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1928830 |
| CT Trust, 5.125%, 2/03/2032 (n) | &nbsp;&nbsp;&nbsp;&nbsp;765000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666923 |
| Rogers Communications, Inc., 4.35%, 5/01/2049 | &nbsp;&nbsp;7277000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6001033 |
| Rogers Communications, Inc., 4.55%, 3/15/2052 (n) | &nbsp;&nbsp;2147000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804726 |
| SBA Communications Corp., 3.125%, 2/01/2029 | &nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1186055 |
| T-Mobile USA, Inc., 4.375%, 4/15/2040 | &nbsp;&nbsp;1899000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1718279 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15641861 |
| Tobacco – 1.5% | Tobacco – 1.5% | Tobacco – 1.5% |
| B.A.T. Capital Corp., 3.215%, 9/06/2026 | $&nbsp;&nbsp;1869000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1760463 |
| B.A.T. Capital Corp., 4.742%, 3/16/2032 | &nbsp;&nbsp;6749000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6238529 |
| Imperial Brands Finance PLC, 6.125%, 7/27/2027 (n) | &nbsp;&nbsp;8569000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8799044 |
| Philip Morris International, Inc., 5.75%, 11/17/2032 | &nbsp;&nbsp;5581000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5868657 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22666693 |
| Transportation – 0.2% | Transportation – 0.2% | Transportation – 0.2% |
| Hidrovias International Finance S.à r.l., 4.95%, 2/08/2031 | $&nbsp;&nbsp;3725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2859794 |
| Transportation - Services – 0.4% | Transportation - Services – 0.4% | Transportation - Services – 0.4% |
| Delhi International Airport Ltd., 6.45%, 6/04/2029 (n) | $&nbsp;&nbsp;2461000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2315186 |
| Element Fleet Management Corp., 1.6%, 4/06/2024 (n) | &nbsp;&nbsp;&nbsp;&nbsp;823000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784837 |
| JSW Infrastructure Ltd., 4.95%, 1/21/2029 (n) | &nbsp;&nbsp;2855000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2529125 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5629148 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Bonds – continued | Bonds – continued | Bonds – continued |
| U.S. Treasury Obligations – 33.2% | U.S. Treasury Obligations – 33.2% | U.S. Treasury Obligations – 33.2% |
| U.S. Treasury Bonds, 1.375%, 11/15/2040 | $35900000 | &nbsp;&nbsp;&nbsp;$24842520 |
| U.S. Treasury Bonds, 1.75%, 8/15/2041 | 11300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8232226 |
| U.S. Treasury Bonds, 2.375%, 2/15/2042 | 91500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74022071 |
| U.S. Treasury Bonds, 4%, 11/15/2042 | 20631000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21320849 |
| U.S. Treasury Bonds, 2.5%, 2/15/2045 (f) | &nbsp;&nbsp;7646000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6168470 |
| U.S. Treasury Bonds, 2.375%, 11/15/2049 | &nbsp;&nbsp;9526900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7409770 |
| U.S. Treasury Bonds, 1.625%, 11/15/2050 | &nbsp;&nbsp;8400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5433094 |
| U.S. Treasury Bonds, 2.25%, 2/15/2052 | 38200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28700734 |
| U.S. Treasury Notes, 2.25%, 3/31/2024 | 64000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62237500 |
| U.S. Treasury Notes, 4.25%, 9/30/2024 | 69800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69641860 |
| U.S. Treasury Notes, 4.25%, 12/31/2024 | 36000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000000 |
| U.S. Treasury Notes, 0.25%, 9/30/2025 | 15700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14264922 |
| U.S. Treasury Notes, 0.875%, 6/30/2026 | 88000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79860000 |
| U.S. Treasury Notes, 2.5%, 3/31/2027 | 63200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60299218 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$498433234 |
| Utilities - Electric Power – 2.3% | Utilities - Electric Power – 2.3% | Utilities - Electric Power – 2.3% |
| AES Gener S.A., 6.35% to 4/07/2025, FLR (CMT - 5yr. + 4.917%) to 4/07/2030, FLR (CMT - 5yr. + 5.167%) to 4/07/2045, FLR (CMT - 5yr. + 5.917%) to 10/07/2079 (n) | $&nbsp;&nbsp;&nbsp;&nbsp;760000 | &nbsp;&nbsp;&nbsp;$718200 |
| AES Panama Generation Holdings SRL, 4.375%, 5/31/2030 (n) | &nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1064460 |
| American Electric Power Co., Inc., 5.95%, 11/01/2032 | &nbsp;&nbsp;3437000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3693974 |
| Calpine Corp., 3.75%, 3/01/2031 (n) | &nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2417608 |
| Enel Finance International N.V., 7.5%, 10/14/2032 (n) | &nbsp;&nbsp;7009000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7894060 |
| ENGIE Energía Chile S.A., 3.4%, 1/28/2030 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3350000 |
| FirstEnergy Corp., 5.1%, 7/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp;838000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773055 |
| Greenko Wind Projects (Mauritius) Ltd., 5.5%, 4/06/2025 (n) | &nbsp;&nbsp;3002000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2830115 |
| Investment Energy Resources Ltd., 6.25%, 4/26/2029 (n) | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954566 |
| Jersey Central Power & Light Co., 2.75%, 3/01/2032 (n) | &nbsp;&nbsp;&nbsp;&nbsp;359000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303817 |
| Mercury Chile Holdco LLC, 6.5%, 1/24/2027 (n) | &nbsp;&nbsp;1793000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1722625 |
| Pacific Gas & Electric Co., 5.45%, 6/15/2027 | &nbsp;&nbsp;4527000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4545163 |
| Pacific Gas & Electric Co., 3%, 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;614000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549030 |
| Pacific Gas & Electric Co., 3.5%, 8/01/2050 | &nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518486 |
| ReNew Wind Energy AP2/ReNew Power Private Ltd., 4.5%, 7/14/2028 (n) | &nbsp;&nbsp;2580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2219679 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34554838 |
| Utilities - Water – 0.2% | Utilities - Water – 0.2% | Utilities - Water – 0.2% |
| Aegea Finance S.à r.l., 6.75%, 5/20/2029 (n) | $&nbsp;&nbsp;2626000 | &nbsp;&nbsp;&nbsp;$2610769 |
| **Total Bonds** |  | &nbsp;&nbsp;**$1471987812** |
| Common Stocks – 0.0% | Common Stocks – 0.0% | Common Stocks – 0.0% |
| Construction – 0.0% | Construction – 0.0% |  |
| ICA Tenedora S.A. de C.V. (a)(u) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36995 | $33399 |
| Investment Companies (h) – 1.8% | Investment Companies (h) – 1.8% | Investment Companies (h) – 1.8% |
| Money Market Funds – 1.8% | Money Market Funds – 1.8% |  |
| MFS Institutional Money Market Portfolio, 4.29% (v) | 26236706 | &nbsp;&nbsp;&nbsp;$26239329 |
| Other Assets, Less Liabilities – 0.2% |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3325387 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp;&nbsp;**$1501585927** |

---

(a) Non-income producing security.

(d) In default.

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

(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. At period end,
the aggregate values of the fund's investments in affiliated issuers and in unaffiliated issuers were $26,239,329 and $1,472,021,211, respectively.

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

------

Portfolio of Investments (unaudited) – continued

(n) Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in the ordinary course of business in transactions exempt from
registration, normally to qualified institutional buyers. At period end, the aggregate value of these securities was $529,654,233, representing 35.3% of net assets.

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

(u) The security was valued using significant unobservable inputs and is considered level 3 under the fair value hierarchy.

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

---

| | |
|:---|:---|
| The following abbreviations are used in this report and are defined: | The following abbreviations are used in this report and are defined: |
| AAC | Ambac Assurance Corp. |
| AGM | Assured Guaranty Municipal |
| CDO | Collateralized Debt Obligation |
| CLO | Collateralized Loan Obligation |
| CMT | Constant Maturity Treasury |
| FLR | Floating Rate. Interest rate resets periodically based on the parenthetically disclosed reference rate plus a spread (if any). The period-end rate reported may not be the current rate. All reference rates are USD unless otherwise noted. |
| LIBOR | London Interbank Offered Rate |
| NPFG | National Public Finance Guarantee Corp. |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate |
| UMBS | Uniform Mortgage-Backed Security |
| Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise indicated. A list of abbreviations is shown below: | Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise indicated. A list of abbreviations is shown below: |
| EUR | Euro |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| THB | Thai Baht |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Derivative Contracts at 1/31/23** | **Derivative Contracts at 1/31/23** | **Derivative Contracts at 1/31/23** | **Derivative Contracts at 1/31/23** | **Derivative Contracts at 1/31/23** | **Derivative Contracts at 1/31/23** | **Derivative Contracts at 1/31/23** |
| **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** |
| **Currency<br> Purchased** | **Currency<br> Purchased** | &nbsp;&nbsp;**Currency<br> Sold** | &nbsp;&nbsp;**Currency<br> Sold** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Settlement<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** |
| MYR | &nbsp;&nbsp;&nbsp;&nbsp;18427277 | &nbsp;&nbsp;USD | &nbsp;&nbsp;4190850 | &nbsp;&nbsp;Barclays Bank PLC | &nbsp;&nbsp;2/16/2023 | &nbsp;&nbsp;$132198 |
| THB | &nbsp;&nbsp;112981431 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3413336 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;3/13/2023 | &nbsp;&nbsp;&nbsp;&nbsp;36071 |
|  |  |  |  |  |  | &nbsp;&nbsp;$168269 |
| **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;1641686 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1511723 | &nbsp;&nbsp;Brown Brothers Harriman | &nbsp;&nbsp;4/21/2023 | &nbsp;&nbsp;$(9697) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Futures Contracts** | **Futures Contracts** | **Futures Contracts** | **Futures Contracts** | **Futures Contracts** | **Futures Contracts** | **Futures Contracts** |
| **Description** | &nbsp;&nbsp;**Long/<br> Short** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**Contracts** | &nbsp;&nbsp;**Notional<br> Amount** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** |
| ***Interest Rate Futures*** | ***Interest Rate Futures*** | ***Interest Rate Futures*** | ***Interest Rate Futures*** | ***Interest Rate Futures*** |  |  |
| U.S. Treasury Note 2 yr | &nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;USD | &nbsp;&nbsp;273 | &nbsp;&nbsp;$56142023 | &nbsp;&nbsp;March – 2023 | &nbsp;&nbsp;$196112 |
| U.S. Treasury Note 5 yr | &nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;USD | &nbsp;&nbsp;701 | &nbsp;&nbsp;76578774 | &nbsp;&nbsp;March – 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840902 |
| U.S. Treasury Ultra Bond | &nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;USD | &nbsp;&nbsp;171 | &nbsp;&nbsp;24239250 | &nbsp;&nbsp;March – 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878272 |
| U.S. Treasury Ultra Note 10 yr | &nbsp;&nbsp;Short | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;363609 | &nbsp;&nbsp;March – 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694 |
|  |  |  |  |  |  | &nbsp;&nbsp;$1915980 |

---

At January 31, 2023, the fund had liquid securities with an aggregate value of $2,463,845 to cover any collateral or margin obligations for certain derivative contracts.

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

------

### Supplemental Information
1/31/23 (unaudited)

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

(1) Investment Valuations

Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. Effective September 8, 2022, and in accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, equity securities, including restricted equity securities, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided by a third-party pricing service. Debt instruments and floating rate loans, including restricted debt instruments, are generally valued at an evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Futures contracts are generally valued at last posted settlement price on their primary exchange as provided by a third-party pricing service. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation on their primary exchange as provided by a third-party pricing service. Forward foreign currency exchange contracts are generally valued at the mean of bid and asked prices for the time period interpolated from rates provided by a third-party pricing service for proximate time periods. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

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

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

------

Supplemental Information (unaudited) – continued

Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. Other financial instruments are derivative instruments, such as futures contracts and forward foreign currency exchange contracts. The following is a summary of the levels used as of January 31, 2023 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | &nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;**Total** |
| Equity Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Mexico | &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;$33399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$33399 |
| U.S. Treasury Bonds & U.S. Government Agencies & Equivalents | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498433234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498433234 |
| Non - U.S. Sovereign Debt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32960602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32960602 |
| Municipal Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12911019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12911019 |
| U.S. Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475503968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475503968 |
| Residential Mortgage-Backed Securities | &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;269574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269574 |
| Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65651371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65651371 |
| Asset-Backed Securities (including CDOs) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157419801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157419801 |
| Foreign Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228838243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228838243 |
| Mutual Funds | &nbsp;&nbsp;&nbsp;&nbsp;26239329 | &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;26239329 |
| Total | &nbsp;&nbsp;&nbsp;$26239329 | &nbsp;&nbsp;&nbsp;$1471987812 | &nbsp;&nbsp;&nbsp;$33399 | &nbsp;&nbsp;&nbsp;$1498260540 |
| **Other Financial Instruments** |  |  |  |  |
| Futures Contracts – Assets | &nbsp;&nbsp;&nbsp;&nbsp;$1915980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1915980 |
| Forward Foreign Currency Exchange Contracts – Assets | &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;168269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168269 |
| Forward Foreign Currency Exchange Contracts – Liabilities | &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;(9697) | &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;(9697) |

---

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

The following is a reconciliation of level 3 assets for which significant unobservable inputs were used to determine fair value. The table presents the activity of level 3 securities held at the beginning and the end of the period.

---

| | |
|:---|:---|
|  | **Equity<br> Securities** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Balance as of 10/31/22 | $31743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in unrealized appreciation or depreciation | 1656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Balance as of 1/31/23 | $33399 |

---

The net change in unrealized appreciation or depreciation from investments held as level 3 at January 31, 2023 is $1,656. At January 31, 2023, the fund held one level 3 security.

(2) Investments in Affiliated Issuers

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the following were affiliated issuers:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp;**Beginning<br> Value** | &nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;**Sales<br> Proceeds** | &nbsp;&nbsp;**Realized<br> Gain<br> (Loss)** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation or<br> Depreciation** | &nbsp;&nbsp;**Ending<br> Value** |
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp;$38543970 | &nbsp;&nbsp;$326153059 | &nbsp;&nbsp;$338442884 | &nbsp;&nbsp;$(17159) | &nbsp;&nbsp;$2343 | &nbsp;&nbsp;$26239329 |

---

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Capital Gain<br> Distributions** |
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp;$273805 | &nbsp;&nbsp;$— |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

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

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

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

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

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

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1512211429.69

**Total Liabilities:** $10614573.42

**Net Assets:** $1501596856.27

**Delayed Delivery Securities:** $4459000.00

**Cash Not Reported:** $501686.83

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -996.20921940 | **1-Year:** -19414.54105970 | **5-Year:** -117631.23826760 | **10-Year:** -194047.24764630 | **30-Year:** -61492.76909590

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

- **3-Month:** -326.10176310 | **1-Year:** -13561.40419290 | **5-Year:** -70977.43653490 | **10-Year:** -38315.00000760 | **30-Year:** -6558.70213890

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000200511 | 3.67%                | -0.33%               | 3.82%                |
| Class ID C000006709 | 3.61%                | -0.42%               | 3.76%                |
| Class ID C000006707 | 3.64%                | -0.36%               | 3.79%                |
| Class ID C000006710 | 3.67%                | -0.34%               | 3.82%                |
| Class ID C000006708 | 3.60%                | -0.42%               | 3.76%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1954714.13             | $39078372.94                               |
| Month 2  | $-547192.59              | $-8738121.16                               |
| Month 3  | $-603812.26              | $43559811.23                               |

**Designated Index Information**

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

- **Index Identifier:** LBSTRUU

### Schedule of Portfolio Investments

| Name                                                    | Title                                                                         | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| KREF Ltd.                                               | KREF Ltd., Series 2021-FL2, Class D                                           | CUSIP: 48275RAJ6<br>LEI: 54930083ELM2GCMVTQ91 | Long             | ABS-CBDO         | CORP              | KY        |   1837000 | PA      | $1720482.76   | 0.11%             | 2039-02-15      | Floating      | 6.66%                 | Yes           |                  2 | On Loan: No      |
| Energizer Holdings, Inc.                                | Energizer Holdings, Inc.                                                      | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5210520.00   | 0.35%             | 2029-03-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                       | Wells Fargo & Co.                                                             | CUSIP: 95000U2U6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   4571000 | PA      | $4030715.30   | 0.27%             | 2033-03-02      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Magnetite XVI Ltd.                                      | Magnetite XVI Ltd., Series 2015-16A, Class DR                                 | CUSIP: 55953RAU5<br>LEI: 549300Z3WHVYABE20I45 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $481678.00    | 0.03%             | 2028-01-18      | Floating      | 6.94%                 | Yes           |                  2 | On Loan: No      |
| AES Panama Generation Holdings SRL                      | AES Panama Generation Holdings SRL                                            | CUSIP: 00109AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | PA        |   1200000 | PA      | $1064460.46   | 0.07%             | 2030-05-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Standard Industries, Inc.                               | Standard Industries, Inc.                                                     | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   6900000 | PA      | $5898609.07   | 0.39%             | 2030-07-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| BWX Technologies, Inc.                                  | BWX Technologies, Inc.                                                        | CUSIP: 05605HAB6<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2256264.35   | 0.15%             | 2028-06-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Central American Bottling Corp.                         | Central American Bottling Corp.                                               | CUSIP: 15239XAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |   2293000 | PA      | $2201944.97   | 0.15%             | 2029-04-27      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Adventist Health System                                 | Adventist Health System                                                       | CUSIP: 007944AH4<br>LEI: 5493008YM33UCY5QPW83 | Long             | DBT              | CORP              | US        |   5185000 | PA      | $5297389.75   | 0.35%             | 2032-03-01      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                        | Deutsche Bank AG                                                              | CUSIP: 251526CP2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   2217000 | PA      | $1959431.27   | 0.13%             | 2027-11-16      | Variable      | 2.31%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                         | TransDigm, Inc.                                                               | CUSIP: 893647BB2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    900000 | PA      | $888736.50    | 0.06%             | 2026-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                              | AerCap Ireland Capital DAC                                                    | CUSIP: 00774MAN5<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1568000 | PA      | $1596694.79   | 0.11%             | 2025-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                | Republic of South Africa                                                      | CUSIP: 836205BE3<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   2905000 | PA      | $2614500.00   | 0.17%             | 2052-04-20      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                              | Corebridge Financial, Inc.                                                    | CUSIP: 21871XAL3<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   1412000 | PA      | $1209117.78   | 0.08%             | 2052-04-05      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                            | Avolon Holdings Funding Ltd.                                                  | CUSIP: 05401AAJ0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   2342000 | PA      | $2113731.26   | 0.14%             | 2027-02-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Match Group Holdings II LLC                             | Match Group Holdings II LLC                                                   | CUSIP: 57665RAG1<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1725957.00   | 0.11%             | 2027-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Macquarie Group Ltd.                                    | Macquarie Group Ltd.                                                          | CUSIP: 55608JBE7<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | DBT              | CORP              | AU        |   8358000 | PA      | $7613130.94   | 0.51%             | 2033-06-21      | Variable      | 4.44%                 | Yes           |                  2 | On Loan: No      |
| Cimpress plc                                            | Cimpress plc                                                                  | CUSIP: 17186HAC6<br>LEI: 549300X1IFD75XISOR81 | Long             | DBT              | CORP              | IE        |   3500000 | PA      | $2430029.53   | 0.16%             | 2026-06-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| AREIT LLC                                               | AREIT LLC, Series 2022-CRE7, Class B                                          | CUSIP: 00217VAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6000000 | PA      | $5866464.00   | 0.39%             | 2039-06-17      | Floating      | 7.73%                 | Yes           |                  2 | On Loan: No      |
| Alimentation Couche-Tard, Inc.                          | Alimentation Couche-Tard, Inc.                                                | CUSIP: 01626PAM8<br>LEI: 549300OSW32RVX8CCZ87 | Long             | DBT              | CORP              | CA        |   2180000 | PA      | $1905064.90   | 0.13%             | 2030-01-25      | Fixed         | 2.95%                 | Yes           |                  2 | On Loan: No      |
| Marriott International, Inc.                            | Marriott International, Inc., Series II                                       | CUSIP: 571903BH5<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |   4537000 | PA      | $3678564.26   | 0.24%             | 2033-10-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                      | Dominican Republic Government Bond                                            | CUSIP: 25714PEF1<br>LEI: N/A                  | Long             | DBT              | NUSS              | DO        |   2295000 | PA      | $1953704.65   | 0.13%             | 2032-09-23      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Energean plc                                            | Energean plc                                                                  | CUSIP: 29280EAA7<br>LEI: 549300RVMKU0CYUZBB05 | Long             | DBT              | CORP              | GB        |   1781000 | PA      | $1666659.80   | 0.11%             | 2027-04-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                     | Iron Mountain, Inc.                                                           | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2313603.00   | 0.15%             | 2031-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Neuberger Berman CLO XV                                 | Neuberger Berman CLO XV, Series 2013-15A, Class CR2                           | CUSIP: 64129KBJ5<br>LEI: 549300UTI4Y2IA4RUP16 | Long             | ABS-CBDO         | CORP              | KY        |   2286610 | PA      | $2186607.40   | 0.15%             | 2029-10-15      | Floating      | 6.64%                 | Yes           |                  2 | On Loan: No      |
| Dryden 49 Senior Loan Fund                              | Dryden 49 Senior Loan Fund, Series 2017-49A, Class CR                         | CUSIP: 26244QAS2<br>LEI: 549300VCB8LYR1RGV869 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1917034.00   | 0.13%             | 2030-07-18      | Floating      | 6.84%                 | Yes           |                  2 | On Loan: No      |
| Adani Transmission Step-One Ltd.                        | Adani Transmission Step-One Ltd.                                              | CUSIP: 00652XAB4<br>LEI: 335800Z8CGS7O7D72N41 | Long             | DBT              | CORP              | IN        |   1539590 | PA      | $1139296.60   | 0.08%             | 2036-05-21      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| New Jersey Economic Development Authority               | New Jersey Economic Development Authority                                     | CUSIP: 645913BB9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2495580.00   | 0.17%             | 2023-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MFS Institutional Money Market Portfolio                | MFS Institutional Money Market Portfolio, Class A                             | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | STIV             | RF                | US        |  26101193 | NS      | $26103803.24  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.          | Arbor Realty Commercial Real Estate Notes Ltd., Series 2019-FL2, Class C      | CUSIP: 03880VAG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2866336.91   | 0.19%             | 2034-09-15      | Floating      | 6.74%                 | Yes           |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                              | AerCap Ireland Capital DAC                                                    | CUSIP: 00774MAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   2698000 | PA      | $2506827.52   | 0.17%             | 2027-07-21      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                               | Commercial Mortgage Trust, Series 2015-PC1, Class A5                          | CUSIP: 12593GAF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1805893 | PA      | $1756736.77   | 0.12%             | 2050-07-10      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Northern Trust Corp.                                    | Northern Trust Corp.                                                          | CUSIP: 665859AX2<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |   6550000 | PA      | $7201633.96   | 0.48%             | 2032-11-02      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Shriram Finance Ltd.                                    | Shriram Finance Ltd.                                                          | CUSIP: 825547AD4<br>LEI: 335800TM2YO24B76XL26 | Long             | DBT              | CORP              | IN        |   1692000 | PA      | $1630665.00   | 0.11%             | 2024-03-13      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Bank AG                                        | Deutsche Bank AG                                                              | CUSIP: 251526CS6<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   8912000 | PA      | $9377511.64   | 0.62%             | 2029-01-18      | Variable      | 6.72%                 | No            |                  2 | On Loan: No      |
| HUB International Ltd.                                  | HUB International Ltd.                                                        | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   5850000 | PA      | $5235000.62   | 0.35%             | 2029-12-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| FirstEnergy Corp.                                       | FirstEnergy Corp., Series C                                                   | CUSIP: 337932AJ6<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    838000 | PA      | $773055.00    | 0.05%             | 2047-07-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd.                                           | Voya CLO Ltd., Series 2016-1A, Class BR                                       | CUSIP: 92915CAU8<br>LEI: 549300BRUAMTEA33B077 | Long             | ABS-CBDO         | CORP              | KY        |   2910000 | PA      | $2676196.05   | 0.18%             | 2031-01-20      | Floating      | 6.70%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                            | UBS Group AG                                                                  | CUSIP: 902613AS7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   3165000 | PA      | $3123933.68   | 0.21%             | 2027-08-05      | Variable      | 4.70%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | Forward Foreign Currency Contract                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $17520.35     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Genuine Parts Co.                                       | Genuine Parts Co.                                                             | CUSIP: 372460AC9<br>LEI: 549300D46DQVEU651W04 | Long             | DBT              | CORP              | US        |   5031000 | PA      | $4191394.27   | 0.28%             | 2032-02-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Oklahoma Development Finance Authority                  | Oklahoma Development Finance Authority                                        | CUSIP: 67884XCP0<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3069905.25   | 0.20%             | 2028-08-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Targa Resources Corp.                                   | Targa Resources Corp.                                                         | CUSIP: 87612GAB7<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   5521000 | PA      | $4727321.25   | 0.31%             | 2052-04-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Element Fleet Management Corp.                          | Element Fleet Management Corp.                                                | CUSIP: 286181AF9<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |    823000 | PA      | $784837.00    | 0.05%             | 2024-04-06      | Fixed         | 1.60%                 | Yes           |                  2 | On Loan: No      |
| LoanCore Issuer Ltd.                                    | LoanCore Issuer Ltd., Series 2021-CRE5, Class C                               | CUSIP: 53947XAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2736324.00   | 0.18%             | 2036-07-15      | Floating      | 6.80%                 | Yes           |                  2 | On Loan: No      |
| Prumo Participacoes e Investimentos S/A                 | Prumo Participacoes e Investimentos S/A                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | BR        |   3276514 | PA      | $3159509.24   | 0.21%             | 2031-12-31      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Rogers Communications, Inc.                             | Rogers Communications, Inc.                                                   | CUSIP: 775109CD1<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |   2147000 | PA      | $1804725.56   | 0.12%             | 2052-03-15      | Fixed         | 4.55%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                       | HSBC Holdings plc                                                             | CUSIP: 404280CP2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    536000 | PA      | $480524.00    | 0.03%             | 2026-03-09      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                              | Warnermedia Holdings, Inc.                                                    | CUSIP: 55903VAQ6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   7295000 | PA      | $6058938.99   | 0.40%             | 2052-03-15      | Fixed         | 5.14%                 | Yes           |                  2 | On Loan: No      |
| GSK Consumer Healthcare Capital US LLC                  | GSK Consumer Healthcare Capital US LLC                                        | CUSIP: 36264FAM3<br>LEI: 549300N8C3A3L0UVQB07 | Long             | DBT              | CORP              | US        |   2275000 | PA      | $2082670.70   | 0.14%             | 2032-03-24      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                   | Toll Road Investors Partnership II LP                                         | CUSIP: 88948ABG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    307000 | PA      | $174171.16    | 0.01%             | 2031-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Regal Rexnord Corp.                                     | Regal Rexnord Corp.                                                           | CUSIP: 758750AE3<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   4486000 | PA      | $4574208.22   | 0.30%             | 2030-02-15      | Fixed         | 6.30%                 | Yes           |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd.                         | Palmer Square Loan Funding Ltd., Series 2021-4A, Class A1                     | CUSIP: 69702HAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4038131 | PA      | $3994478.44   | 0.27%             | 2029-10-15      | Floating      | 5.59%                 | Yes           |                  2 | On Loan: No      |
| Eni SpA                                                 | Eni SpA, Series X-R                                                           | CUSIP: 26874RAG3<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |   1342000 | PA      | $1332472.38   | 0.09%             | 2023-09-12      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Business Jet Securities LLC                             | Business Jet Securities LLC, Series 2021-1A, Class C                          | CUSIP: 12327BAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    280328 | PA      | $246010.06    | 0.02%             | 2036-04-15      | Fixed         | 5.07%                 | Yes           |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                              | Corebridge Financial, Inc.                                                    | CUSIP: 21871XAJ8<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    473000 | PA      | $410451.58    | 0.03%             | 2042-04-05      | Fixed         | 4.35%                 | Yes           |                  2 | On Loan: No      |
| Match Group Holdings II LLC                             | Match Group Holdings II LLC                                                   | CUSIP: 57667JAA0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1364250.00   | 0.09%             | 2031-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| LoanCore Issuer Ltd.                                    | LoanCore Issuer Ltd., Series 2019-CRE2, Class D                               | CUSIP: 53946JAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1291000 | PA      | $1263758.61   | 0.08%             | 2036-05-15      | Floating      | 6.91%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Notes                                                           | CUSIP: 91282CGD7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  36000000 | PA      | $36000000.00  | 2.40%             | 2024-12-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                            | Pacific Gas and Electric Co.                                                  | CUSIP: 694308JW8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    614000 | PA      | $549030.19    | 0.04%             | 2028-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Regal Rexnord Corp.                                     | Regal Rexnord Corp.                                                           | CUSIP: 758750AF0<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   4714000 | PA      | $4833384.83   | 0.32%             | 2033-04-15      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| NCR Corp.                                               | NCR Corp.                                                                     | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5226325.44   | 0.35%             | 2029-04-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Boston Gas Co.                                          | Boston Gas Co.                                                                | CUSIP: 100743AM5<br>LEI: FN7P4E7K9JOBORDEUX61 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4571095.10   | 0.30%             | 2032-03-16      | Fixed         | 3.76%                 | Yes           |                  2 | On Loan: No      |
| LoanCore Issuer Ltd.                                    | LoanCore Issuer Ltd., Series 2019-CRE3, Class C                               | CUSIP: 53947DAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |   1355850 | PA      | $1370156.93   | 0.09%             | 2034-04-15      | Floating      | 6.41%                 | Yes           |                  2 | On Loan: No      |
| Eldorado Gold Corp.                                     | Eldorado Gold Corp.                                                           | CUSIP: 284902AF0<br>LEI: 5493004PWQ01YDD1IH62 | Long             | DBT              | CORP              | CA        |   3500000 | PA      | $3207357.37   | 0.21%             | 2029-09-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Aegea Finance SARL                                      | Aegea Finance SARL                                                            | CUSIP: 00775CAB2<br>LEI: 213800V6WTKUT1XWIZ47 | Long             | DBT              | CORP              | LU        |   2626000 | PA      | $2610769.20   | 0.17%             | 2029-05-20      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Leviathan Bond Ltd.                                     | Leviathan Bond Ltd.                                                           | CUSIP: N/A<br>LEI: 254900D9T8VKYVQNZ220       | Long             | DBT              | CORP              | IL        |   1834000 | PA      | $1781078.10   | 0.12%             | 2030-06-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                | Benchmark Mortgage Trust, Series 2019-B13, Class A4                           | CUSIP: 08162DAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $4492909.50   | 0.30%             | 2057-08-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Bombardier, Inc.                                        | Bombardier, Inc.                                                              | CUSIP: 097751BZ3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   3500000 | PA      | $3496605.00   | 0.23%             | 2029-02-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Sasol Financing USA LLC                                 | Sasol Financing USA LLC                                                       | CUSIP: 80386WAD7<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |   2519000 | PA      | $2197827.50   | 0.15%             | 2031-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Village of Bridgeview IL                                | Village of Bridgeview                                                         | CUSIP: 108555GG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1100436.25   | 0.07%             | 2036-12-01      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                            | Marriott International, Inc., Series FF                                       | CUSIP: 571903BE2<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |   5561000 | PA      | $5424283.76   | 0.36%             | 2030-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| DT Auto Owner Trust                                     | DT Auto Owner Trust, Series 2020-1A, Class C                                  | CUSIP: 23344EAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    230144 | PA      | $229319.70    | 0.02%             | 2025-11-17      | Fixed         | 2.29%                 | Yes           |                  2 | On Loan: No      |
| Neuberger Berman CLO XXI Ltd.                           | Neuberger Berman CLO XXI Ltd., Series 2016-21A, Class CR2                     | CUSIP: 64130DBL3<br>LEI: 549300VBBLOSKH8XQ869 | Long             | ABS-CBDO         | CORP              | KY        |   1750000 | PA      | $1694743.75   | 0.11%             | 2034-04-20      | Floating      | 6.86%                 | Yes           |                  2 | On Loan: No      |
| AES Andes SA                                            | AES Andes SA                                                                  | CUSIP: 00105DAG0<br>LEI: 549300IF4IFG0FS0RM26 | Long             | DBT              | CORP              | CL        |    760000 | PA      | $718200.00    | 0.05%             | 2079-10-07      | Variable      | 6.35%                 | Yes           |                  2 | On Loan: No      |
| STWD Ltd.                                               | STWD Ltd., Series 2021-FL2, Class D                                           | CUSIP: 78486BAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2767988.40   | 0.18%             | 2038-04-18      | Floating      | 7.27%                 | Yes           |                  2 | On Loan: No      |
| Race Point VIII CLO Ltd.                                | Race Point VIII CLO Ltd., Series 2013-8A, Class CR2                           | CUSIP: 74982LBC3<br>LEI: 5493008ABAJEYBWITR69 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1439068.50   | 0.10%             | 2030-02-20      | Floating      | 6.73%                 | Yes           |                  2 | On Loan: No      |
| Cheniere Corpus Christi Holdings LLC                    | Cheniere Corpus Christi Holdings LLC                                          | CUSIP: 16412XAJ4<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |   2125000 | PA      | $1995586.50   | 0.13%             | 2029-11-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| RELX Capital, Inc.                                      | RELX Capital, Inc.                                                            | CUSIP: 74949LAD4<br>LEI: 2R15C3RTKJN1RCBOV146 | Long             | DBT              | CORP              | US        |    674000 | PA      | $598588.34    | 0.04%             | 2030-05-22      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                            | Pacific Gas and Electric Co.                                                  | CUSIP: 694308KF3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   4527000 | PA      | $4545162.60   | 0.30%             | 2027-06-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                            | Barclays plc                                                                  | CUSIP: 06738EAN5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1325000 | PA      | $1298252.64   | 0.09%             | 2026-01-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.          | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL1, Class B      | CUSIP: 03881CAE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1857646.00   | 0.12%             | 2035-12-15      | Floating      | 5.92%                 | Yes           |                  2 | On Loan: No      |
| NXP BV                                                  | NXP BV                                                                        | CUSIP: 62954HAY4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1305000 | PA      | $1167826.96   | 0.08%             | 2030-05-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Delhi International Airport Ltd.                        | Delhi International Airport Ltd.                                              | CUSIP: 246724AA6<br>LEI: 335800HBF5DARYMEUD12 | Long             | DBT              | CORP              | IN        |   2461000 | PA      | $2315185.75   | 0.15%             | 2029-06-04      | Fixed         | 6.45%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.          | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL3, Class C      | CUSIP: 03880KAG9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3500000 | PA      | $3166443.00   | 0.21%             | 2034-08-15      | Floating      | 6.30%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Puerto Rico Sales Tax Financing Corp. Sales Tax                               | CUSIP: 74529JQY4<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1326000 | PA      | $1044510.36   | 0.07%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust             | MF1 Multifamily Housing Mortgage Loan Trust, Series 2021-FL5, Class D         | CUSIP: 55282XAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $2835144.00   | 0.19%             | 2036-07-15      | Floating      | 7.10%                 | Yes           |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                      | LPL Holdings, Inc.                                                            | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1163500.00   | 0.08%             | 2029-03-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                            | UBS Group AG                                                                  | CUSIP: 902613AD0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2746000 | PA      | $2251445.40   | 0.15%             | 2031-02-10      | Variable      | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Patrick Industries, Inc.                                | Patrick Industries, Inc.                                                      | CUSIP: 703343AD5<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |   6300000 | PA      | $5385555.00   | 0.36%             | 2029-05-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Philip Morris International, Inc.                       | Philip Morris International, Inc.                                             | CUSIP: 718172CX5<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   5581000 | PA      | $5868657.19   | 0.39%             | 2032-11-17      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Escambia County Health Facilities Authority             | Escambia County Health Facilities Authority                                   | CUSIP: 296110GG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1389662.46   | 0.09%             | 2040-08-15      | Fixed         | 3.61%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Notes                                                           | CUSIP: 91282CAM3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15700000 | PA      | $14264921.88  | 0.95%             | 2025-09-30      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| TRTX Issuer Ltd.                                        | TRTX Issuer Ltd., Series 2021-FL4, Class B                                    | CUSIP: 87276WAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2700000 | PA      | $2564659.80   | 0.17%             | 2038-03-15      | Floating      | 6.31%                 | Yes           |                  2 | On Loan: No      |
| Balboa Bay Loan Funding Ltd.                            | Balboa Bay Loan Funding Ltd., Series 2020-1A, Class CR                        | CUSIP: 05766BAN8<br>LEI: 549300MALKZHG9DP8554 | Long             | ABS-CBDO         | CORP              | KY        |   2083333 | PA      | $1970314.27   | 0.13%             | 2032-01-20      | Floating      | 6.91%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                   | Wells Fargo Commercial Mortgage Trust, Series 2016-C34, Class A4              | CUSIP: 95000DBD2<br>LEI: 549300FWFHJGIW2B2U59 | Long             | ABS-MBS          | CORP              | US        |   1740000 | PA      | $1637955.44   | 0.11%             | 2049-06-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Global Aircraft Leasing Co. Ltd.                        | Global Aircraft Leasing Co. Ltd.                                              | CUSIP: 37960JAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   2624681 | PA      | $2395241.31   | 0.16%             | 2024-09-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Voya CLO Ltd.                                           | Voya CLO Ltd., Series 2016-1A, Class A2R                                      | CUSIP: 92915CAS3<br>LEI: 549300BRUAMTEA33B077 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $961348.00    | 0.06%             | 2031-01-20      | Floating      | 6.20%                 | Yes           |                  2 | On Loan: No      |
| CHCP Ltd.                                               | CHCP Ltd., Series 2021-FL1, Class C                                           | CUSIP: 12546JAG9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    549500 | PA      | $510991.26    | 0.03%             | 2038-02-15      | Floating      | 6.70%                 | Yes           |                  2 | On Loan: No      |
| Enel Finance International NV                           | Enel Finance International NV                                                 | CUSIP: 29278GBA5<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   7009000 | PA      | $7894059.65   | 0.53%             | 2032-10-14      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                           | CUSIP: 912810TD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  38200000 | PA      | $28700734.18  | 1.91%             | 2052-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MF1 LLC                                                 | MF1 LLC, Series 2022-FL10, Class B                                            | CUSIP: 55285BAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7500000 | PA      | $7481957.25   | 0.50%             | 2037-09-17      | Floating      | 8.22%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.          | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL3, Class D      | CUSIP: 03880KAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    539000 | PA      | $498833.72    | 0.03%             | 2034-08-15      | Floating      | 6.65%                 | Yes           |                  2 | On Loan: No      |
| Jazz Securities DAC                                     | Jazz Securities DAC                                                           | CUSIP: 47216FAA5<br>LEI: 6354009DV8VV7K6KOO02 | Long             | DBT              | CORP              | IE        |   3000000 | PA      | $2737020.00   | 0.18%             | 2029-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                           | CUSIP: 912810TM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20631000 | PA      | $21320849.06  | 1.42%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                            | Marriott International, Inc., Series HH                                       | CUSIP: 571903BG7<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    654000 | PA      | $556633.26    | 0.04%             | 2031-04-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| GLP Capital LP                                          | GLP Capital LP                                                                | CUSIP: 361841AP4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2062000 | PA      | $1862651.86   | 0.12%             | 2030-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                      | LPL Holdings, Inc.                                                            | CUSIP: 50212YAC8<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4758200.00   | 0.32%             | 2027-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Discovery Communications LLC                            | Discovery Communications LLC                                                  | CUSIP: 25470DBH1<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |    857000 | PA      | $669260.90    | 0.04%             | 2050-05-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                   | Mex Bonos Desarr Fix Rt                                                       | CUSIP: N/A<br>LEI: 254900EGTWEU67VP6075       | Long             | DBT              | NUSS              | MX        |  78800000 | PA      | $3956048.33   | 0.26%             | 2031-05-29      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Aon Corp.                                               | Aon Corp.                                                                     | CUSIP: 037389BB8<br>LEI: LTS3U8DGK38SETRUWX71 | Long             | DBT              | CORP              | US        |   2909000 | PA      | $2877361.25   | 0.19%             | 2028-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HGI CRE CLO Ltd.                                        | HGI CRE CLO Ltd., Series 2022-FL3, Class B                                    | CUSIP: 403950AC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2843894.88   | 0.19%             | 2037-04-20      | Floating      | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Mercury Chile Holdco LLC                                | Mercury Chile Holdco LLC                                                      | CUSIP: 58937CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1793000 | PA      | $1722624.75   | 0.11%             | 2027-01-24      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                          | Morgan Stanley                                                                | CUSIP: 61747YEH4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   7539000 | PA      | $6226135.62   | 0.41%             | 2032-10-20      | Variable      | 2.51%                 | No            |                  2 | On Loan: No      |
| MC Brazil Downstream Trading SARL                       | MC Brazil Downstream Trading SARL                                             | CUSIP: 55292WAA8<br>LEI: 213800T2A7R9TYNXZI63 | Long             | DBT              | CORP              | LU        |   3294918 | PA      | $2874111.78   | 0.19%             | 2031-06-30      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                            | UBS Group AG                                                                  | CUSIP: 90352JAC7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1618000 | PA      | $1557951.15   | 0.10%             | 2028-03-23      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| MPLX LP                                                 | MPLX LP                                                                       | CUSIP: 55336VAM2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $1998504.55   | 0.13%             | 2038-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fairfax Financial Holdings Ltd.                         | Fairfax Financial Holdings Ltd.                                               | CUSIP: 303901BB7<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |   2201000 | PA      | $2137836.30   | 0.14%             | 2028-04-17      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Allied World Assurance Co. Holdings Ltd.                | Allied World Assurance Co. Holdings Ltd.                                      | CUSIP: 01959EAC2<br>LEI: 549300E2X3MLXVVR4T40 | Long             | DBT              | CORP              | BM        |   2170000 | PA      | $2098391.82   | 0.14%             | 2025-10-29      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Notes                                                           | CUSIP: 91282CCJ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  88000000 | PA      | $79860000.00  | 5.32%             | 2026-06-30      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Mattamy Group Corp.                                     | Mattamy Group Corp.                                                           | CUSIP: 57701RAJ1<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |   2900000 | PA      | $2653500.00   | 0.18%             | 2027-12-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| BSPRT Issuer Ltd.                                       | BSPRT Issuer Ltd., Series 2022-FL8, Class D                                   | CUSIP: 055983AJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3775926.40   | 0.25%             | 2037-02-15      | Floating      | 7.08%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                       | Wells Fargo & Co., Series BB                                                  | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   4785000 | PA      | $4411171.88   | 0.29%             | 2026-03-15      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Republic of Turkey                                      | Republic of Turkey                                                            | CUSIP: 900123DG2<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   2960000 | PA      | $2898739.84   | 0.19%             | 2033-01-19      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Cenovus Energy, Inc.                                    | Cenovus Energy, Inc.                                                          | CUSIP: 15135UAX7<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |   2700000 | PA      | $2054930.69   | 0.14%             | 2052-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev Worldwide, Inc.                    | Anheuser-Busch InBev Worldwide, Inc.                                          | CUSIP: 03523TBT4<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    874509 | PA      | $805429.89    | 0.05%             | 2048-10-06      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| Total Play Telecomunicaciones SA de CV                  | Total Play Telecomunicaciones SA de CV                                        | CUSIP: N/A<br>LEI: 4469000001BSAPAMOQ06       | Long             | DBT              | CORP              | MX        |   3520000 | PA      | $2979292.80   | 0.20%             | 2028-09-20      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Voya Ltd.                                               | Voya Ltd., Series 2012-4A, Class C1R3                                         | CUSIP: 92916GBH6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1737638 | PA      | $1624589.01   | 0.11%             | 2030-10-15      | Floating      | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.          | Arbor Realty Commercial Real Estate Notes Ltd., Series 2022-FL2, Class D      | CUSIP: 03881JAL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   8038000 | PA      | $7905444.54   | 0.53%             | 2037-05-15      | Floating      | 8.83%                 | Yes           |                  2 | On Loan: No      |
| Meituan                                                 | Meituan                                                                       | CUSIP: 58533EAC7<br>LEI: 21380033K525E5JLIA77 | Long             | DBT              | CORP              | KY        |   4581000 | PA      | $3727980.05   | 0.25%             | 2030-10-28      | Fixed         | 3.05%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                          | Morgan Stanley                                                                | CUSIP: 61747YET8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5949853.50   | 0.40%             | 2026-07-17      | Variable      | 4.68%                 | No            |                  2 | On Loan: No      |
| HGI CRE CLO 2021-FL3 Ltd.                               | HGI CRE CLO 2021-FL3 Ltd., Series 2022-FL3, Class D                           | CUSIP: 403950AG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4500000 | PA      | $4333081.50   | 0.29%             | 2037-04-20      | Floating      | 8.03%                 | Yes           |                  2 | On Loan: No      |
| Genm Capital Labuan Ltd.                                | Genm Capital Labuan Ltd.                                                      | CUSIP: 37231BAA6<br>LEI: 254900DWSHIWTSE0YG58 | Long             | DBT              | CORP              | MY        |   1276000 | PA      | $1035517.88   | 0.07%             | 2031-04-19      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| GLP Capital LP                                          | GLP Capital LP                                                                | CUSIP: 361841AQ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $353210.84    | 0.02%             | 2031-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Investment Energy Resources Ltd.                        | Investment Energy Resources Ltd.                                              | CUSIP: 46143NAB6<br>LEI: 254900A71Y7WHN7L5K89 | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $954565.63    | 0.06%             | 2029-04-26      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                          | CUSIP: 31405JSG0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5930 | PA      | $6181.48      | 0.00%             | 2034-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cheniere Corpus Christi Holdings LLC                    | Cheniere Corpus Christi Holdings LLC                                          | CUSIP: 16412XAL9<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |    963000 | PA      | $789256.21    | 0.05%             | 2039-12-31      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| Rogers Communications, Inc.                             | Rogers Communications, Inc.                                                   | CUSIP: 775109BN0<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |   7277000 | PA      | $6001032.70   | 0.40%             | 2049-05-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Allegro CLO II-S Ltd.                                   | Allegro CLO II-S Ltd., Series 2014-1RA, Class C                               | CUSIP: 01751EAJ7<br>LEI: 635400R1GOVCHJ4SNX58 | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1171902.50   | 0.08%             | 2028-10-21      | Floating      | 7.82%                 | Yes           |                  2 | On Loan: No      |
| Port of Beaumont Industrial Development Authority       | Port of Beaumont Industrial Development Authority                             | CUSIP: 73358SAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2755000 | PA      | $2208090.90   | 0.15%             | 2028-01-01      | Fixed         | 4.10%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                          | CUSIP: 31410KQ64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     19729 | PA      | $20669.91     | 0.00%             | 2036-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Hashemite Kingdom of Jordan                             | Hashemite Kingdom of Jordan                                                   | CUSIP: N/A<br>LEI: 5493000JZ4MYPVMBVN50       | Long             | DBT              | NUSS              | JO        |   3604000 | PA      | $3236492.91   | 0.22%             | 2047-10-10      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                       | BAT Capital Corp.                                                             | CUSIP: 05526DBW4<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   6749000 | PA      | $6238529.06   | 0.42%             | 2032-03-16      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | FNMA, Series 2013-1, Class YI                                                 | CUSIP: 3136ABC35<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    223680 | PA      | $20498.51     | 0.00%             | 2033-02-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Indofood CBP Sukses Makmur Tbk. PT                      | Indofood CBP Sukses Makmur Tbk. PT                                            | CUSIP: N/A<br>LEI: 254900YKZW9GRKZZN285       | Long             | DBT              | CORP              | ID        |   2536000 | PA      | $2123900.00   | 0.14%             | 2032-04-27      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| JSW Infrastructure Ltd.                                 | JSW Infrastructure Ltd.                                                       | CUSIP: 46654XAA7<br>LEI: 3358003E3YFK92C9WX80 | Long             | DBT              | CORP              | IN        |   2855000 | PA      | $2529124.76   | 0.17%             | 2029-01-21      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                            | GS Mortgage Securities Trust, Series 2019-GC40, Class AS                      | CUSIP: 36257HBT2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2200000 | PA      | $1939162.06   | 0.13%             | 2052-07-10      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| Huarong Finance 2019 Co. Ltd.                           | Huarong Finance 2019 Co. Ltd.                                                 | CUSIP: N/A<br>LEI: 549300M6T6OW4AGYHK10       | Long             | DBT              | CORP              | VG        |   4145000 | PA      | $3217363.55   | 0.21%             | 2030-02-24      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | Forward Foreign Currency Contract                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $36070.52     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                   | Bank of America Corp.                                                         | CUSIP: 06051GKL2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4785000 | PA      | $4169812.07   | 0.28%             | 2037-03-08      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| Syneos Health, Inc.                                     | Syneos Health, Inc.                                                           | CUSIP: 87166BAA0<br>LEI: 549300F1ZGKDS8P6GU13 | Long             | DBT              | CORP              | US        |   7300000 | PA      | $5903875.00   | 0.39%             | 2029-01-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| ACREC Ltd.                                              | ACREC Ltd., Series 2021-FL1, Class D                                          | CUSIP: 00500RAJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2591000 | PA      | $2443593.86   | 0.16%             | 2036-10-16      | Floating      | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Madison Park Funding XXIII Ltd.                         | Madison Park Funding XXIII Ltd., Series 2017-23A, Class CR                    | CUSIP: 55820TAN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2896389.00   | 0.19%             | 2031-07-27      | Floating      | 6.81%                 | Yes           |                  2 | On Loan: No      |
| Engie Energia Chile SA                                  | Engie Energia Chile SA                                                        | CUSIP: N/A<br>LEI: 5493000FIKCC3ZDWTO77       | Long             | DBT              | CORP              | CL        |   4000000 | PA      | $3350000.00   | 0.22%             | 2030-01-28      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                   | FHLMC Multifamily Structured Pass-Through Certificates, Series K726, Class X1 | CUSIP: 3137BYPS3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     65338 | PA      | $566.43       | 0.00%             | 2024-04-25      | Variable      | 0.90%                 | No            |                  2 | On Loan: No      |
| ICA Tenedora SA de CV                                   | ICA Tenedora SA de CV                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |     36995 | NS      | $33398.74     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Hyundai Capital America                                 | Hyundai Capital America                                                       | CUSIP: 44891ACA3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1694827.02   | 0.11%             | 2028-09-15      | Fixed         | 2.10%                 | Yes           |                  2 | On Loan: No      |
| MF1 Ltd.                                                | MF1 Ltd., Series 2022-FL8, Class E                                            | CUSIP: 55284JAL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4500000 | PA      | $4176507.15   | 0.28%             | 2037-02-19      | Floating      | 7.46%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                          | CUSIP: 31402QTR2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     80994 | PA      | $84718.39     | 0.01%             | 2034-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PFP Ltd.                                                | PFP Ltd., Series 2021-8, Class D                                              | CUSIP: 69357XAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |   4274000 | PA      | $3987649.69   | 0.27%             | 2037-08-09      | Floating      | 6.60%                 | Yes           |                  2 | On Loan: No      |
| Ipoteka-Bank ATIB                                       | Ipoteka-Bank ATIB                                                             | CUSIP: N/A<br>LEI: 213800UWVX5JSNXJS434       | Long             | DBT              | CORP              | UZ        |   2618000 | PA      | $2441285.00   | 0.16%             | 2025-11-19      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Eni SpA                                                 | Eni SpA                                                                       | CUSIP: 26874RAJ7<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |   1685000 | PA      | $1601004.91   | 0.11%             | 2029-05-09      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Gray Escrow II, Inc.                                    | Gray Escrow II, Inc.                                                          | CUSIP: 389286AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6000000 | PA      | $4614150.00   | 0.31%             | 2031-11-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Boston Properties LP                                    | Boston Properties LP                                                          | CUSIP: 10112RBE3<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |   7442000 | PA      | $5874263.89   | 0.39%             | 2032-04-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Post Holdings, Inc.                                     | Post Holdings, Inc.                                                           | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2640000.00   | 0.18%             | 2030-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Clarivate Science Holdings Corp.                        | Clarivate Science Holdings Corp.                                              | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6159475.00   | 0.41%             | 2029-07-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Shackleton 2015-VIII CLO Ltd.                           | Shackleton 2015-VIII CLO Ltd., Series 2015-8A, Class CR                       | CUSIP: 81882EAS1<br>LEI: 549300VJPG28RMYCYW83 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $977194.00    | 0.07%             | 2027-10-20      | Floating      | 6.46%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                          | CUSIP: 3140K8RB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     50226 | PA      | $44445.37     | 0.00%             | 2050-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Commercial Equipment Finance LLC                        | Commercial Equipment Finance LLC, Series 2021-A, Class A                      | CUSIP: 20166QAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1257386 | PA      | $1212631.79   | 0.08%             | 2027-02-16      | Fixed         | 2.05%                 | Yes           |                  2 | On Loan: No      |
| Alcon Finance Corp.                                     | Alcon Finance Corp.                                                           | CUSIP: 01400EAF0<br>LEI: 549300CUZUI9VU7XNK42 | Long             | DBT              | CORP              | US        |   6027000 | PA      | $6520070.68   | 0.43%             | 2052-12-06      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| CNH Industrial Capital LLC                              | CNH Industrial Capital LLC                                                    | CUSIP: 12592BAJ3<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |   1076000 | PA      | $1066434.36   | 0.07%             | 2024-01-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Jersey Central Power & Light Co.                        | Jersey Central Power & Light Co.                                              | CUSIP: 476556DD4<br>LEI: 549300W9UGH9ZPLNPF79 | Long             | DBT              | CORP              | US        |    359000 | PA      | $303817.57    | 0.02%             | 2032-03-01      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Calpine Corp.                                           | Calpine Corp.                                                                 | CUSIP: 131347CR5<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   2900000 | PA      | $2417607.62   | 0.16%             | 2031-03-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| SS&C Technologies, Inc.                                 | SS&C Technologies, Inc.                                                       | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |   1965000 | PA      | $1889827.35   | 0.13%             | 2027-09-30      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Glencore Funding LLC                                    | Glencore Funding LLC                                                          | CUSIP: 378272BE7<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |   7907000 | PA      | $6772016.41   | 0.45%             | 2031-04-27      | Fixed         | 2.85%                 | Yes           |                  2 | On Loan: No      |
| Oracle Corp.                                            | Oracle Corp.                                                                  | CUSIP: 68389XCH6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   4021000 | PA      | $4297862.09   | 0.29%             | 2029-11-09      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| BANK                                                    | BANK, Series 2019-BN16, Class AS                                              | CUSIP: 065405AF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2230000 | PA      | $2100988.93   | 0.14%             | 2052-02-15      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| Greenko Wind Projects Mauritius Ltd.                    | Greenko Wind Projects Mauritius Ltd.                                          | CUSIP: 39531JAA2<br>LEI: 254900MSUXE1FF83DP82 | Long             | DBT              | CORP              | MU        |   3002000 | PA      | $2830115.12   | 0.19%             | 2025-04-06      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                           | CUSIP: 912810ST6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  35900000 | PA      | $24842519.62  | 1.65%             | 2040-11-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| JBS USA LUX SA                                          | JBS USA LUX SA                                                                | CUSIP: 46590XAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1749150.00   | 0.12%             | 2030-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.          | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL2, Class C      | CUSIP: 03881EAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    375000 | PA      | $350485.88    | 0.02%             | 2036-05-15      | Floating      | 6.40%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                   | Bank of America Corp.                                                         | CUSIP: 06051GKD0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   8268000 | PA      | $6836370.42   | 0.46%             | 2032-10-20      | Variable      | 2.57%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                | Benchmark Mortgage Trust, Series 2019-B10, Class AM                           | CUSIP: 08162VAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $921740.00    | 0.06%             | 2062-03-15      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| Global Payments, Inc.                                   | Global Payments, Inc.                                                         | CUSIP: 37940XAD4<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   3563000 | PA      | $3057925.87   | 0.20%             | 2030-05-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| CHCP Ltd.                                               | CHCP Ltd., Series 2021-FL1, Class B                                           | CUSIP: 12546JAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3500000 | PA      | $3318704.90   | 0.22%             | 2038-02-15      | Floating      | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Bacardi Ltd.                                            | Bacardi Ltd.                                                                  | CUSIP: 067316AG4<br>LEI: 549300R32WTQNHNN5055 | Long             | DBT              | CORP              | BM        |    955000 | PA      | $936071.79    | 0.06%             | 2038-05-15      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| American Tower Corp.                                    | American Tower Corp.                                                          | CUSIP: 03027XAP5<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   1237000 | PA      | $1168249.74   | 0.08%             | 2027-07-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Expedia Group, Inc.                                     | Expedia Group, Inc.                                                           | CUSIP: 30212PAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3950000 | PA      | $3472333.02   | 0.23%             | 2030-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BSPDF Issuer Ltd.                                       | BSPDF Issuer Ltd., Series 2021-FL1, Class B                                   | CUSIP: 055731AE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1231000 | PA      | $1164075.45   | 0.08%             | 2036-10-15      | Floating      | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                   | Wells Fargo Commercial Mortgage Trust, Series 2017-RB1, Class A5              | CUSIP: 95000TBS4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1421399.10   | 0.09%             | 2050-03-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                   | Ashtead Capital, Inc.                                                         | CUSIP: 04505AAA7<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5015224.50   | 0.33%             | 2032-08-11      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Toledo Hospital (The)                                   | Toledo Hospital (The)                                                         | CUSIP: 889184AD9<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |    568000 | PA      | $571778.09    | 0.04%             | 2038-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                       | Wells Fargo & Co.                                                             | CUSIP: 95000U2J1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   5515000 | PA      | $4752725.36   | 0.32%             | 2031-02-11      | Variable      | 2.57%                 | No            |                  2 | On Loan: No      |
| Republic of Cote d'Ivoire                               | Republic of Cote d'Ivoire                                                     | CUSIP: N/A<br>LEI: 254900ICW11T82O6H590       | Long             | DBT              | NUSS              | CI        |   1864000 | PA      | $1586100.55   | 0.11%             | 2032-01-30      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                         | TransDigm, Inc.                                                               | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2706480.00   | 0.18%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Raymond James Financial, Inc.                           | Raymond James Financial, Inc.                                                 | CUSIP: 754730AG4<br>LEI: RGUZHJ05YTITL6D76949 | Long             | DBT              | CORP              | US        |   1069000 | PA      | $1063093.46   | 0.07%             | 2030-04-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Barings CLO Ltd.                                        | Barings CLO Ltd., Series 2013-IA, Class BR                                    | CUSIP: 06760EAC0<br>LEI: 54930079SUKCXYW8DR07 | Long             | ABS-CBDO         | CORP              | KY        |   1750000 | PA      | $1728519.78   | 0.12%             | 2028-01-20      | Floating      | 6.06%                 | Yes           |                  2 | On Loan: No      |
| Stellantis Finance US, Inc.                             | Stellantis Finance US, Inc.                                                   | CUSIP: 85855CAB6<br>LEI: 549300QZ0AI8Q7LNON33 | Long             | DBT              | CORP              | US        |   5147000 | PA      | $4148313.90   | 0.28%             | 2031-09-15      | Fixed         | 2.69%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Domestic Holdings, Inc.                  | Morgan Stanley Domestic Holdings, Inc.                                        | CUSIP: 269246BS2<br>LEI: 549300RJIC678ZPVWG08 | Long             | DBT              | CORP              | US        |   1958000 | PA      | $1954199.01   | 0.13%             | 2028-06-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                   | Toll Road Investors Partnership II LP                                         | CUSIP: 88948ABE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    889000 | PA      | $580774.33    | 0.04%             | 2029-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| SBA Communications Corp.                                | SBA Communications Corp.                                                      | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1186055.50   | 0.08%             | 2029-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                           | CUSIP: 912810RK6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7646000 | PA      | $6168470.22   | 0.41%             | 2045-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                           | CUSIP: 912810TF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  91500000 | PA      | $74022070.77  | 4.93%             | 2042-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Crown Castle, Inc.                                      | Crown Castle, Inc.                                                            | CUSIP: 22822VAQ4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |   2318000 | PA      | $1928830.22   | 0.13%             | 2050-07-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Equitable Holdings, Inc.                                | Equitable Holdings, Inc.                                                      | CUSIP: 29452EAC5<br>LEI: 549300FIBAKMNHPZ4009 | Long             | DBT              | CORP              | US        |   6136000 | PA      | $6282331.88   | 0.42%             | 2033-01-11      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                              | iHeartCommunications, Inc.                                                    | CUSIP: 45174HBD8<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3585000.00   | 0.24%             | 2027-05-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co., Inc.                       | American Electric Power Co., Inc.                                             | CUSIP: 025537AW1<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   3437000 | PA      | $3693974.21   | 0.25%             | 2032-11-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Discover Financial Services                             | Discover Financial Services                                                   | CUSIP: 254709AS7<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |   9610000 | PA      | $10258511.73  | 0.68%             | 2032-11-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Organon & Co.                                           | Organon & Co.                                                                 | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2713350.00   | 0.18%             | 2028-04-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Capital One Financial Corp.                             | Capital One Financial Corp.                                                   | CUSIP: 14040HCN3<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4429663.70   | 0.29%             | 2030-03-01      | Variable      | 3.27%                 | No            |                  2 | On Loan: No      |
| Hidrovias International Finance SARL                    | Hidrovias International Finance SARL                                          | CUSIP: N/A<br>LEI: 222100RBWNBUZOTA9381       | Long             | DBT              | CORP              | LU        |   3725000 | PA      | $2859794.25   | 0.19%             | 2031-02-08      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                            | Pacific Gas and Electric Co.                                                  | CUSIP: 694308JJ7<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $1518486.08   | 0.10%             | 2050-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                        | CCO Holdings LLC                                                              | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3300000 | PA      | $2819718.00   | 0.19%             | 2030-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                           | CUSIP: 912810SK5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9526900 | PA      | $7409769.79   | 0.49%             | 2049-11-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| BANK                                                    | BANK, Series 2019-BN17, Class AS                                              | CUSIP: 065403BF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $4641934.00   | 0.31%             | 2052-04-15      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                     | Petroleos Mexicanos                                                           | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |   3769000 | PA      | $3017248.72   | 0.20%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                               | HCA, Inc.                                                                     | CUSIP: 404119CG2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   7619000 | PA      | $6426415.61   | 0.43%             | 2052-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                       | HSBC Holdings plc                                                             | CUSIP: 404280CQ0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1150000 | PA      | $974912.50    | 0.06%             | 2031-03-09      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| Imperial Brands Finance plc                             | Imperial Brands Finance plc                                                   | CUSIP: 45262BAF0<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |   8569000 | PA      | $8799043.37   | 0.59%             | 2027-07-27      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                    | JPMorgan Chase & Co.                                                          | CUSIP: 46647PBP0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    726000 | PA      | $629842.51    | 0.04%             | 2031-05-13      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| CARS-DB4 LP                                             | CARS-DB4 LP, Series 2020-1A, Class B1                                         | CUSIP: 12510HAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    764773 | PA      | $707331.44    | 0.05%             | 2050-02-15      | Fixed         | 4.17%                 | Yes           |                  2 | On Loan: No      |
| Charter Communications Operating LLC                    | Charter Communications Operating LLC                                          | CUSIP: 161175CA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1824000 | PA      | $1244616.05   | 0.08%             | 2052-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Wyndham Hotels & Resorts, Inc.                          | Wyndham Hotels & Resorts, Inc.                                                | CUSIP: 98311AAB1<br>LEI: 549300FE3MQ4RVXXC673 | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2490225.15   | 0.17%             | 2028-08-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | U.S. Treasury Ultra Bond                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       171 | NC      | $878271.36    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BSPRT Issuer Ltd.                                       | BSPRT Issuer Ltd., Series 2019-FL5, Class C                                   | CUSIP: 05587TAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1505000 | PA      | $1468171.15   | 0.10%             | 2029-05-15      | Floating      | 6.45%                 | Yes           |                  2 | On Loan: No      |
| MF1 LLC                                                 | MF1 LLC, Series 2022-FL9, Class B                                             | CUSIP: 55285AAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7000000 | PA      | $6850879.00   | 0.46%             | 2037-06-19      | Floating      | 7.64%                 | Yes           |                  2 | On Loan: No      |
| ReNew Wind Energy AP2                                   | ReNew Wind Energy AP2                                                         | CUSIP: 75973PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | IN        |   2580000 | PA      | $2219679.11   | 0.15%             | 2028-07-14      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Toledo Hospital (The)                                   | Toledo Hospital (The), Series B                                               | CUSIP: 889184AC1<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |   1437000 | PA      | $1172384.09   | 0.08%             | 2028-11-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Notes                                                           | CUSIP: 91282CEG2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  64000000 | PA      | $62237500.16  | 4.14%             | 2024-03-31      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                          | Broadcom, Inc.                                                                | CUSIP: 11135FAS0<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   5334000 | PA      | $4911928.85   | 0.33%             | 2032-11-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp.                                         | Air Lease Corp.                                                               | CUSIP: 00914AAS1<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   5633000 | PA      | $4626834.89   | 0.31%             | 2032-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | U.S. Treasury 2 Year Note                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       273 | NC      | $196112.28    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosus NV                                               | Prosus NV                                                                     | CUSIP: 74365PAG3<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |   1975000 | PA      | $1793017.89   | 0.12%             | 2027-01-19      | Fixed         | 3.26%                 | Yes           |                  2 | On Loan: No      |
| Ready Capital Mortgage Financing LLC                    | Ready Capital Mortgage Financing LLC, Series 2021-FL7, Class D                | CUSIP: 75575WAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1770000 | PA      | $1635246.36   | 0.11%             | 2036-11-25      | Floating      | 7.46%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.          | Arbor Realty Commercial Real Estate Notes Ltd., Series 2022-FL1, Class D      | CUSIP: 03880XAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2800000 | PA      | $2633760.88   | 0.18%             | 2037-01-15      | Floating      | 7.28%                 | Yes           |                  2 | On Loan: No      |
| Republic of Angola                                      | Republic of Angola                                                            | CUSIP: N/A<br>LEI: 549300QHR2R3J8JSGK83       | Long             | DBT              | NUSS              | AO        |   3070000 | PA      | $2845767.20   | 0.19%             | 2029-11-26      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Targa Resources Corp.                                   | Targa Resources Corp.                                                         | CUSIP: 87612GAC5<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   5394000 | PA      | $5626847.87   | 0.37%             | 2033-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Dell International LLC                                  | Dell International LLC                                                        | CUSIP: 24703TAG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1388000 | PA      | $1401184.79   | 0.09%             | 2029-10-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd.                         | Palmer Square Loan Funding Ltd., Series 2020-1A, Class B                      | CUSIP: 69701EAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    879778 | PA      | $867578.12    | 0.06%             | 2028-02-20      | Floating      | 6.58%                 | Yes           |                  2 | On Loan: No      |
| Anglo American Capital plc                              | Anglo American Capital plc                                                    | CUSIP: 034863BA7<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |   1161000 | PA      | $997198.72    | 0.07%             | 2031-03-17      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Notes                                                           | CUSIP: 91282CFN6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  69800000 | PA      | $69641859.72  | 4.64%             | 2024-09-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Gates Global LLC                                        | Gates Global LLC                                                              | CUSIP: 36740LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2954512.50   | 0.20%             | 2026-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                          | CUSIP: 31384WLN8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8157 | PA      | $8444.65      | 0.00%             | 2031-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Business Jet Securities LLC                             | Business Jet Securities LLC, Series 2020-1A, Class A                          | CUSIP: 12327FAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    236290 | PA      | $216803.09    | 0.01%             | 2035-11-15      | Fixed         | 2.98%                 | Yes           |                  2 | On Loan: No      |
| Boeing Co. (The)                                        | Boeing Co. (The)                                                              | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   2018000 | PA      | $1865697.48   | 0.12%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                          | Enbridge, Inc.                                                                | CUSIP: 29250NBF1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1923000 | PA      | $1570143.48   | 0.10%             | 2033-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BXMT Ltd.                                               | BXMT Ltd., Series 2021-FL4, Class B                                           | CUSIP: 05609GAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |   2123000 | PA      | $1972108.41   | 0.13%             | 2038-05-15      | Floating      | 6.01%                 | Yes           |                  2 | On Loan: No      |
| Anglo American Capital plc                              | Anglo American Capital plc                                                    | CUSIP: 034863AZ3<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |    992000 | PA      | $867811.79    | 0.06%             | 2028-03-17      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| Novelis Corp.                                           | Novelis Corp.                                                                 | CUSIP: 670001AG1<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    250000 | PA      | $226330.00    | 0.02%             | 2026-11-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                       | Venture Global Calcasieu Pass LLC                                             | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7131460.00   | 0.47%             | 2030-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| AREIT Trust                                             | AREIT Trust, Series 2019-CRE3, Class D                                        | CUSIP: 00217LAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1729000 | PA      | $1615492.88   | 0.11%             | 2036-09-14      | Floating      | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Global Payments, Inc.                                   | Global Payments, Inc.                                                         | CUSIP: 37940XAH5<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $4998638.16   | 0.33%             | 2031-11-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                         | Goldman Sachs Group, Inc. (The)                                               | CUSIP: 38141GZM9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   4410000 | PA      | $3779201.49   | 0.25%             | 2033-02-24      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| Realogy Group LLC                                       | Realogy Group LLC                                                             | CUSIP: 75606DAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3110160.00   | 0.21%             | 2029-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)                     | Bank of New York Mellon Corp. (The), Series G                                 | CUSIP: 064058AH3<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1759450.21   | 0.12%             | 2025-09-20      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| EQT Corp.                                               | EQT Corp.                                                                     | CUSIP: 26884LAL3<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |   6987000 | PA      | $6772988.19   | 0.45%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Standard Industries, Inc.                               | Standard Industries, Inc.                                                     | CUSIP: 853496AH0<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2064966.28   | 0.14%             | 2031-01-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| ACRES Commercial Realty Ltd.                            | ACRES Commercial Realty Ltd., Series 2021-FL2, Class C                        | CUSIP: 00500JAG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3162000 | PA      | $2988928.56   | 0.20%             | 2037-01-15      | Floating      | 7.11%                 | Yes           |                  2 | On Loan: No      |
| MF1 Ltd.                                                | MF1 Ltd., Series 2021-FL6, Class C                                            | CUSIP: 55283TAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3357603 | PA      | $3162872.10   | 0.21%             | 2036-07-16      | Floating      | 6.32%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.          | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL1, Class D      | CUSIP: 03881CAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    701000 | PA      | $653913.55    | 0.04%             | 2035-12-15      | Floating      | 7.37%                 | Yes           |                  2 | On Loan: No      |
| Uzbek Industrial and Construction Bank ATB              | Uzbek Industrial and Construction Bank ATB                                    | CUSIP: N/A<br>LEI: 213800C2NIFPFTXYIU69       | Long             | DBT              | CORP              | UZ        |   1424000 | PA      | $1374160.00   | 0.09%             | 2024-12-02      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                              | Charles Schwab Corp. (The), Series K                                          | CUSIP: 808513CB9<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   3272000 | PA      | $3157480.00   | 0.21%             | 2027-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Medco Laurel Tree Pte. Ltd.                             | Medco Laurel Tree Pte. Ltd.                                                   | CUSIP: 58406RAA6<br>LEI: 254900SX7FFGRREZD046 | Long             | DBT              | CORP              | SG        |   3625000 | PA      | $3453063.71   | 0.23%             | 2028-11-12      | Fixed         | 6.95%                 | Yes           |                  2 | On Loan: No      |
| MF1 Ltd.                                                | MF1 Ltd., Series 2020-FL4, Class B                                            | CUSIP: 58003UAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2250000 | PA      | $2247225.75   | 0.15%             | 2035-11-15      | Floating      | 7.35%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Collateralized Loan Obligation Ltd.        | Arbor Realty Collateralized Loan Obligation Ltd., Series 2020-FL1, Class D    | CUSIP: 03880WAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1768000 | PA      | $1653562.66   | 0.11%             | 2035-02-15      | Floating      | 7.05%                 | Yes           |                  2 | On Loan: No      |
| Boeing Co. (The)                                        | Boeing Co. (The)                                                              | CUSIP: 097023CV5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1359000 | PA      | $1390608.37   | 0.09%             | 2040-05-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust             | MF1 Multifamily Housing Mortgage Loan Trust, Series 2021-FL5, Class C         | CUSIP: 55282XAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2250000 | PA      | $2099961.00   | 0.14%             | 2036-07-15      | Floating      | 6.30%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | U.S. Treasury 10 Year Ultra Note                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -3 | NC      | $693.78       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Fairfax Financial Holdings Ltd.                         | Fairfax Financial Holdings Ltd.                                               | CUSIP: 303901BK7<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |   9062000 | PA      | $8820450.67   | 0.59%             | 2032-08-16      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| BBCMS Mortgage Trust                                    | BBCMS Mortgage Trust, Series 2022-C18, Class AS                               | CUSIP: 054975AJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3226076 | PA      | $3461662.46   | 0.23%             | 2055-12-15      | Variable      | 6.15%                 | No            |                  2 | On Loan: No      |
| PFP Ltd.                                                | PFP Ltd., Series 2021-7, Class C                                              | CUSIP: 69290LAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |    431478 | PA      | $401526.96    | 0.03%             | 2038-04-14      | Floating      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| Fairfax Financial Holdings Ltd.                         | Fairfax Financial Holdings Ltd.                                               | CUSIP: 303901BJ0<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |    452000 | PA      | $384388.01    | 0.03%             | 2031-03-03      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Banco Mercantil del Norte SA                            | Banco Mercantil del Norte SA                                                  | CUSIP: N/A<br>LEI: 549300QTVYRPFHS0J362       | Long             | DBT              | CORP              | MX        |   3789000 | PA      | $3344955.91   | 0.22%             | 2032-01-24      | Variable      | 6.63%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                        | Boeing Co. (The)                                                              | CUSIP: 097023CN3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    453000 | PA      | $400444.27    | 0.03%             | 2030-02-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd.                         | Palmer Square Loan Funding Ltd., Series 2022-5A, Class A1                     | CUSIP: 69702QAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   7233877 | PA      | $7204550.92   | 0.48%             | 2031-01-15      | Floating      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| American Builders & Contractors Supply Co., Inc.        | American Builders & Contractors Supply Co., Inc.                              | CUSIP: 024747AF4<br>LEI: 549300H5GQ4C1BEKG397 | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2459889.00   | 0.16%             | 2028-01-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Time Warner Cable LLC                                   | Time Warner Cable LLC                                                         | CUSIP: 88732JBD9<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |   2031000 | PA      | $1615363.53   | 0.11%             | 2042-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CLNC Ltd.                                               | CLNC Ltd., Series 2019-FL1, Class C                                           | CUSIP: 12565DAG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1735000 | PA      | $1628516.11   | 0.11%             | 2035-08-20      | Floating      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                   | Bank of America Corp.                                                         | CUSIP: 06051GKY4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2998188.66   | 0.20%             | 2033-07-22      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| Parallel Ltd.                                           | Parallel Ltd., Series 2015-1A, Class DR                                       | CUSIP: 69915VAW0<br>LEI: 549300IVH7GEF68EFD31 | Long             | ABS-CBDO         | CORP              | KY        |   1750000 | PA      | $1742693.75   | 0.12%             | 2027-07-20      | Floating      | 7.36%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                    | JPMorgan Chase & Co.                                                          | CUSIP: 46647PCU8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3428871.20   | 0.23%             | 2033-01-25      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | U.S. Treasury 5 Year Note                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       701 | NC      | $840902.08    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                                   | Bank of America Corp.                                                         | CUSIP: 06051GHM4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    579000 | PA      | $559713.43    | 0.04%             | 2029-07-23      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | Forward Foreign Currency Contract                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $114677.98    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CREST Ltd.                                              | CREST Ltd., Series 2004-1A, Class G2                                          | CUSIP: 22608WAR0<br>LEI: 549300MJZTHEPDTYM573 | Long             | ABS-O            | CORP              | KY        |    864986 | PA      | $8.65         | 0.00%             | 2040-01-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Virgin Media Finance plc                                | Virgin Media Finance plc                                                      | CUSIP: 92769VAJ8<br>LEI: 2138001LVYC87DDHT482 | Long             | DBT              | CORP              | GB        |   5000000 | PA      | $4196950.00   | 0.28%             | 2030-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| LoanCore Issuer Ltd.                                    | LoanCore Issuer Ltd., Series 2018-CRE1, Class C                               | CUSIP: 53946MAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1740000 | PA      | $1691354.82   | 0.11%             | 2028-05-15      | Floating      | 7.01%                 | Yes           |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                   | Toll Road Investors Partnership II LP                                         | CUSIP: 88948ABB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    307000 | PA      | $248113.65    | 0.02%             | 2026-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Dick's Sporting Goods, Inc.                             | Dick's Sporting Goods, Inc.                                                   | CUSIP: 253393AF9<br>LEI: 529900SSBV5I4LWSK313 | Long             | DBT              | CORP              | US        |  11095000 | PA      | $9078151.79   | 0.60%             | 2032-01-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Securitized Term Auto Loan Receivables Trust            | Securitized Term Auto Loan Receivables Trust, Series 2019-CRTA, Class C       | CUSIP: 81379MAC8<br>LEI: 549300DC604TIE09UO03 | Long             | ABS-O            | CORP              | CA        |    112257 | PA      | $111792.29    | 0.01%             | 2026-03-25      | Fixed         | 2.85%                 | Yes           |                  2 | On Loan: No      |
| Plains All American Pipeline LP                         | Plains All American Pipeline LP                                               | CUSIP: 72650RBN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4057000 | PA      | $3685624.94   | 0.25%             | 2030-09-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                           | CUSIP: 912810SS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8400000 | PA      | $5433093.79   | 0.36%             | 2050-11-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Aon Corp.                                               | Aon Corp.                                                                     | CUSIP: 03740LAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2471000 | PA      | $2095069.28   | 0.14%             | 2031-12-02      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Braskem Idesa SAPI                                      | Braskem Idesa SAPI                                                            | CUSIP: N/A<br>LEI: YH0V7ZHY352ITDGEYB83       | Long             | DBT              | CORP              | MX        |   2605000 | PA      | $1929263.00   | 0.13%             | 2032-02-20      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| Sabine Pass Liquefaction LLC                            | Sabine Pass Liquefaction LLC                                                  | CUSIP: 785592AX4<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |   3285000 | PA      | $3188730.18   | 0.21%             | 2030-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Taylor Morrison Communities, Inc.                       | Taylor Morrison Communities, Inc.                                             | CUSIP: 87724RAB8<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |   2333000 | PA      | $2263045.00   | 0.15%             | 2028-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Sunac China Holdings Ltd.                               | Sunac China Holdings Ltd.                                                     | CUSIP: N/A<br>LEI: 549300OLARYHDXP3WK18       | Long             | DBT              | CORP              | KY        |   1057000 | PA      | $299924.73    | 0.02%             | 2024-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| AREIT Trust                                             | AREIT Trust, Series 2022-CRE6, Class E                                        | CUSIP: 04002VAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |   4500000 | PA      | $4312246.50   | 0.29%             | 2037-01-16      | Floating      | 7.71%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.          | Arbor Realty Commercial Real Estate Notes Ltd., Series 2019-FL2, Class D      | CUSIP: 03880VAJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3816932.00   | 0.25%             | 2034-09-15      | Floating      | 7.04%                 | Yes           |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                   | Ashtead Capital, Inc.                                                         | CUSIP: 045054AQ6<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   1861000 | PA      | $1867869.58   | 0.12%             | 2033-05-30      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| Broadcom, Inc.                                          | Broadcom, Inc.                                                                | CUSIP: 11135FBQ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   2240000 | PA      | $1712807.96   | 0.11%             | 2036-11-15      | Fixed         | 3.19%                 | Yes           |                  2 | On Loan: No      |
| MPLX LP                                                 | MPLX LP                                                                       | CUSIP: 55336VBT6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   3699000 | PA      | $3278388.12   | 0.22%             | 2052-03-14      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BSPRT Issuer Ltd.                                       | BSPRT Issuer Ltd., Series 2021-FL6, Class C                                   | CUSIP: 05601HAG9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1300000 | PA      | $1191437.00   | 0.08%             | 2036-03-15      | Floating      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| DaVita, Inc.                                            | DaVita, Inc.                                                                  | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   4100000 | PA      | $3454250.00   | 0.23%             | 2030-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| STWD Ltd.                                               | STWD Ltd., Series 2022-FL3, Class D                                           | CUSIP: 78485KAL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2584047.13   | 0.17%             | 2038-11-15      | Floating      | 7.03%                 | Yes           |                  2 | On Loan: No      |
| CNH Industrial NV                                       | CNH Industrial NV                                                             | CUSIP: 12594KAB8<br>LEI: 549300WGC2HZ5J67V817 | Long             | DBT              | CORP              | NL        |   1025000 | PA      | $996089.85    | 0.07%             | 2027-11-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Bank Negara Indonesia Persero Tbk. PT                   | Bank Negara Indonesia Persero Tbk. PT                                         | CUSIP: N/A<br>LEI: 549300HZ8J3MLVXQ8F85       | Long             | DBT              | NUSS              | ID        |   2499000 | PA      | $2337814.50   | 0.16%             | 2026-03-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.          | Arbor Realty Commercial Real Estate Notes Ltd., Series 2022-FL1, Class E      | CUSIP: 03880XAL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4500000 | PA      | $4198865.85   | 0.28%             | 2037-01-15      | Floating      | 8.03%                 | Yes           |                  2 | On Loan: No      |
| Eskom Holdings SOC Ltd.                                 | Eskom Holdings SOC Ltd.                                                       | CUSIP: 29646AAD8<br>LEI: 3789001900ED06F65111 | Long             | DBT              | NUSS              | ZA        |   2980000 | PA      | $2855537.32   | 0.19%             | 2028-08-10      | Fixed         | 8.45%                 | Yes           |                  2 | On Loan: No      |
| Westinghouse Air Brake Technologies Corp.               | Westinghouse Air Brake Technologies Corp.                                     | CUSIP: 960386AM2<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |   7534000 | PA      | $7483792.22   | 0.50%             | 2028-09-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Tower Health                                            | Tower Health, Series 2020                                                     | CUSIP: 891792AA1<br>LEI: 549300SLJK3XUAQHFO63 | Long             | DBT              | CORP              | US        |   1730000 | PA      | $807754.30    | 0.05%             | 2050-02-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.          | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL1, Class C      | CUSIP: 03881CAG6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3788036.00   | 0.25%             | 2035-12-15      | Floating      | 6.42%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                                 | Hyundai Capital America                                                       | CUSIP: 44891ABL0<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   6896000 | PA      | $7247962.74   | 0.48%             | 2030-04-08      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Cellnex Finance Co. SA                                  | Cellnex Finance Co. SA                                                        | CUSIP: 15118JAA3<br>LEI: 549300OUROMFTRFA7T23 | Long             | DBT              | CORP              | ES        |   1582000 | PA      | $1167764.74   | 0.08%             | 2041-07-07      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Air Lease Corp.                                         | Air Lease Corp.                                                               | CUSIP: 00914AAT9<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   9322000 | PA      | $9513965.34   | 0.63%             | 2027-12-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.          | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class D      | CUSIP: 03880RAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5743500 | PA      | $5461833.02   | 0.36%             | 2036-11-15      | Floating      | 7.35%                 | Yes           |                  2 | On Loan: No      |
| Acu Petroleo Luxembourg SARL                            | Acu Petroleo Luxembourg SARL                                                  | CUSIP: 00110RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   2854558 | PA      | $2686824.02   | 0.18%             | 2032-01-13      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Moog, Inc.                                              | Moog, Inc.                                                                    | CUSIP: 615394AM5<br>LEI: 549300WM2I4U7OBAHG07 | Long             | DBT              | CORP              | US        |   2965000 | PA      | $2750037.50   | 0.18%             | 2027-12-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Anglo American Capital plc                              | Anglo American Capital plc                                                    | CUSIP: 034863BC3<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |   5361000 | PA      | $4860087.51   | 0.32%             | 2052-03-16      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| BSPRT Issuer Ltd.                                       | BSPRT Issuer Ltd., Series 2021-FL7, Class D                                   | CUSIP: 05602CAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3418500 | PA      | $3184903.64   | 0.21%             | 2038-12-15      | Floating      | 7.20%                 | Yes           |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                      | T-Mobile USA, Inc.                                                            | CUSIP: 87264AAX3<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1899000 | PA      | $1718279.29   | 0.11%             | 2040-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                            | Avolon Holdings Funding Ltd.                                                  | CUSIP: 05401AAP6<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   6117000 | PA      | $5270007.27   | 0.35%             | 2028-02-21      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio, Inc.                                   | Sirius XM Radio, Inc.                                                         | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   4800000 | PA      | $4498320.00   | 0.30%             | 2029-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                    | Puerto Rico Electric Power Authority                                          | CUSIP: 74526QA28<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     30000 | PA      | $20925.00     | 0.00%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                            | UBS Group AG                                                                  | CUSIP: 902613AV0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   3000000 | PA      | $3160024.68   | 0.21%             | 2034-01-12      | Variable      | 5.96%                 | Yes           |                  2 | On Loan: No      |
| Novelis Corp.                                           | Novelis Corp.                                                                 | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   4600000 | PA      | $3882400.00   | 0.26%             | 2031-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                         | Goldman Sachs Group, Inc. (The)                                               | CUSIP: 38141GYN8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   6695000 | PA      | $5522667.20   | 0.37%             | 2032-10-21      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| BDS Ltd.                                                | BDS Ltd., Series 2021-FL9, Class C                                            | CUSIP: 05493NAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4254000 | PA      | $3982182.16   | 0.27%             | 2038-11-16      | Floating      | 6.37%                 | Yes           |                  2 | On Loan: No      |
| Columbia Cent CLO 28 Ltd.                               | Columbia Cent CLO 28 Ltd., Series 2018-28A, Class BR                          | CUSIP: 197361AU2<br>LEI: 549300K7BI8XA1XTMK83 | Long             | ABS-CBDO         | CORP              | KY        |   2083333 | PA      | $1967366.35   | 0.13%             | 2030-11-07      | Floating      | 6.68%                 | Yes           |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Trust                      | Barclays Commercial Mortgage Trust, Series 2019-C5, Class A4                  | CUSIP: 05492JAW2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $453187.10    | 0.03%             | 2052-11-15      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                          | Enbridge, Inc.                                                                | CUSIP: 29250NAZ8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1344000 | PA      | $1211607.00   | 0.08%             | 2029-11-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Cutwater Ltd.                                           | Cutwater Ltd., Series 2015-1A, Class BR                                       | CUSIP: 23222LAQ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1478736.00   | 0.10%             | 2029-01-15      | Floating      | 6.59%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                    | BANK, Series 2019-BN23, Class A3                                              | CUSIP: 06541RBB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5777000 | PA      | $5193264.77   | 0.35%             | 2052-12-15      | Fixed         | 2.92%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                           | CUSIP: 912810TA6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11300000 | PA      | $8232226.51   | 0.55%             | 2041-08-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                              | AerCap Ireland Capital DAC                                                    | CUSIP: 00774MAX3<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   5000000 | PA      | $4198045.55   | 0.28%             | 2032-01-30      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                    | Puerto Rico Electric Power Authority                                          | CUSIP: 74526QXB3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    455000 | PA      | $312812.50    | 0.02%             | 2018-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brown & Brown, Inc.                                     | Brown & Brown, Inc.                                                           | CUSIP: 115236AF8<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |   4125000 | PA      | $3719687.03   | 0.25%             | 2052-03-17      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                   | Wells Fargo Commercial Mortgage Trust, Series 2017-C42, Class A4              | CUSIP: 95001GAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3490000 | PA      | $3289574.88   | 0.22%             | 2050-12-15      | Fixed         | 3.59%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                              | Corebridge Financial, Inc.                                                    | CUSIP: 21871XAN9<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   4850000 | PA      | $4824487.55   | 0.32%             | 2052-12-15      | Variable      | 6.87%                 | Yes           |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                       | Alliant Holdings Intermediate LLC                                             | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4750000 | PA      | $4442817.50   | 0.30%             | 2027-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Axalta Coating Systems LLC                              | Axalta Coating Systems LLC                                                    | CUSIP: 05453GAC9<br>LEI: 549300G80QONCHILSF69 | Long             | DBT              | CORP              | US        |   3600000 | PA      | $3096000.00   | 0.21%             | 2029-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.          | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL3, Class B      | CUSIP: 03880KAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1831724.00   | 0.12%             | 2034-08-15      | Floating      | 6.05%                 | Yes           |                  2 | On Loan: No      |
| LCCM Trust                                              | LCCM Trust, Series 2021-FL2, Class C                                          | CUSIP: 50202KAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3212500 | PA      | $3096467.71   | 0.21%             | 2038-12-13      | Floating      | 6.61%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                   | Wells Fargo Commercial Mortgage Trust, Series 2018-C44, Class A5              | CUSIP: 95001JAX5<br>LEI: 549300AGZIS1CJS4RM30 | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1460411.10   | 0.10%             | 2051-05-15      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.          | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL2, Class B      | CUSIP: 03881EAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2596000 | PA      | $2459658.08   | 0.16%             | 2036-05-15      | Floating      | 6.05%                 | Yes           |                  2 | On Loan: No      |
| Boeing Co. (The)                                        | Boeing Co. (The)                                                              | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   4282000 | PA      | $4371487.25   | 0.29%             | 2050-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| DCP Midstream Operating LP                              | DCP Midstream Operating LP                                                    | CUSIP: 23311VAK3<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4322475.00   | 0.29%             | 2032-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                          | CUSIP: 36179TG33<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     90374 | PA      | $84049.13     | 0.01%             | 2047-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                       | BAT Capital Corp.                                                             | CUSIP: 05526DBJ3<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   1869000 | PA      | $1760462.95   | 0.12%             | 2026-09-06      | Fixed         | 3.21%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                    | JPMorgan Chase & Co.                                                          | CUSIP: 46647PDG8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3998986.96   | 0.27%             | 2028-07-25      | Variable      | 4.85%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                      | Energy Transfer LP                                                            | CUSIP: 29273VAQ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   7766000 | PA      | $7981118.20   | 0.53%             | 2033-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SK Hynix, Inc.                                          | SK Hynix, Inc.                                                                | CUSIP: 78392BAE7<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | CORP              | KR        |   5733000 | PA      | $5820103.93   | 0.39%             | 2028-01-17      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Bayview Financial Revolving Asset Trust                 | Bayview Financial Revolving Asset Trust, Series 2005-E, Class M1              | CUSIP: 073250BW1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     73005 | PA      | $90880.34     | 0.01%             | 2040-12-28      | Floating      | 6.15%                 | Yes           |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                           | UBS Commercial Mortgage Trust, Series 2017-C7, Class A4                       | CUSIP: 90276WAS6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1052000 | PA      | $997906.37    | 0.07%             | 2050-12-15      | Fixed         | 3.68%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                    | Charter Communications Operating LLC                                          | CUSIP: 161175CK8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5342000 | PA      | $4486136.87   | 0.30%             | 2053-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CT Trust                                                | CT Trust                                                                      | CUSIP: 12659BAA2<br>LEI: 213800MJB7WO427HQD34 | Long             | DBT              | CORP              | GT        |    765000 | PA      | $666922.99    | 0.04%             | 2032-02-03      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Notes                                                           | CUSIP: 91282CEF4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  63200000 | PA      | $60299218.59  | 4.02%             | 2027-03-31      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Humana, Inc.                                            | Humana, Inc.                                                                  | CUSIP: 444859BV3<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |   6962000 | PA      | $7450584.46   | 0.50%             | 2033-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                             | Caesars Entertainment, Inc.                                                   | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   4429000 | PA      | $4506507.50   | 0.30%             | 2030-02-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| New Jersey Economic Development Authority               | New Jersey Economic Development Authority                                     | CUSIP: 645913AA2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1269095.98   | 0.08%             | 2029-02-15      | Fixed         | 7.42%                 | No            |                  2 | On Loan: No      |
| Oaktree CLO Ltd.                                        | Oaktree CLO Ltd., Series 2019-1A, Class CR                                    | CUSIP: 67401XAN1<br>LEI: 549300BJ8TRWJ20BLC43 | Long             | ABS-CBDO         | CORP              | KY        |   3236356 | PA      | $3088169.73   | 0.21%             | 2030-04-22      | Floating      | 7.17%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                        | CSC Holdings LLC                                                              | CUSIP: 126307BB2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   4600000 | PA      | $3400642.00   | 0.23%             | 2030-12-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| JBS USA LUX SA                                          | JBS USA LUX SA                                                                | CUSIP: 46590XAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4179000 | PA      | $4097760.24   | 0.27%             | 2033-04-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                            | Barclays plc                                                                  | CUSIP: 06738ECE3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   5487000 | PA      | $6182248.83   | 0.41%             | 2033-11-02      | Variable      | 7.44%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | Forward Foreign Currency Contract                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-9696.80     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-02

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

**Signature:** Kasey Phillips

**Name of Signer:** Kasey Phillips

**Title:** Assistant Treasurer