# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-26-001436
**Filing Date:** 2026-2
**Character Count:** 288239
**Document Hash:** 602c5f63097b8f138fb349ef8f681af2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-001436.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0002048251-26-001436

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisors' Inner Circle Fund III
- **CENTRAL INDEX KEY:** 0001593547

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22920
- **FILM NUMBER:** 26695858

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456
- **BUSINESS PHONE:** (800) 342-5734

**MAIL ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456

## Series and Classes Contracts Data

### FS Multi-Strategy Alternatives Fund (Series ID: S000075444)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000234545 | Class I      | FSMSX           |
| C000234546 | Class A      | FSMMX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ADVISORS' INNER CIRCLE III

- **b. Investment Company Act file number:** 811-22920

- **c. CIK number of Registrant:** 0001593547

- **d. LEI of Registrant:** 549300TG800HOPJVWT31

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

  - **Street Address 1:** ONE FREEDOM VALLEY DRIVE

  - **City:** OAKS

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19456

  - **Telephone number:** 8774463863

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

- **a. Name of Series:** FS Multi-Strategy Alternatives Fund

- **b. EDGAR series identifier (if any):** S000075444

- **c. LEI of Series:** 549300E0668BUMX3FG88

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

- **a. Date of fiscal year-end:** 2025-12-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $5368968415.56

**Total Liabilities:** $3741163965.94

**Net Assets:** $1627804449.62

**Cash Not Reported:** $168909157.54

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000234545 | 0.26%                | 0.35%                | 0.87%                |
| Class ID C000234546 | -4.88%               | -4.56%               | -4.26%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $23685803.08             | $-26528092.61                              |
| Month 2  | $-3603504.50             | $12870718.95                               |
| Month 3  | $14651834.56             | $-9142726.70                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| 1261229 B.C. LTD.                                   | 1261229 BC LTD 144A 10.000000% 04/15/2032                                | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | NUSS              | US        |      955000 | PA      | $993216.13     | 0.06%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                            | 22V Long Earnings Turbulence TRS                                         | CUSIP: TFSERNL02<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |      254649 | NC      | $-602754.18    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                            | 22V Short Low Vol TRS                                                    | CUSIP: TFSERNS01<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    25072761 | NC      | $-260090.45    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| PARK AVENUE TRUST                                   | 245 PARK AVENUE TRUST 2017-245P PRKAV 2017-245P E                        | CUSIP: 90187LAN9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2310000 | PA      | $2210770.72    | 0.14%             | 2037-06-05      | Floating      | 3.66%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | 3 MONTH SOFR FUT  DEC25 FINANCIAL COMMODITY FUTURE.                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -1931 | NC      | $-464948593.80 | -28.56%           |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | 3 MONTH SOFR FUT  DEC26 FINANCIAL COMMODITY FUTURE.                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -1931 | NC      | $-467736475.00 | -28.73%           |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | 3 MONTH SOFR FUT  JUN26 FINANCIAL COMMODITY FUTURE.                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -1931 | NC      | $-466770975.00 | -28.67%           |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | 3 MONTH SOFR FUT  JUN27 FINANCIAL COMMODITY FUTURE.                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -1931 | NC      | $-467567512.50 | -28.72%           |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | 3 MONTH SOFR FUT  MAR26 FINANCIAL COMMODITY FUTURE.                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -1931 | NC      | $-465781337.50 | -28.61%           |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | 3 MONTH SOFR FUT  MAR27 FINANCIAL COMMODITY FUTURE.                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -1931 | NC      | $-467712337.50 | -28.73%           |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | 3 MONTH SOFR FUT  SEP26 FINANCIAL COMMODITY FUTURE.                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -1931 | NC      | $-467519237.50 | -28.72%           |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | 3 MONTH SOFR FUT  SEP27 FINANCIAL COMMODITY FUTURE.                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -1004 | NC      | $-242980550.00 | -14.93%           |  |  |  | No            |                  1 | On Loan: No      |
| A&D MORTGAGE TRUST                                  | A&D MORTGAGE TRUST 2024-NQM1 ADMT 2024-NQM1 B1                           | CUSIP: 00039GAE9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     4000000 | PA      | $4055235.20    | 0.25%             | 2069-02-25      | Floating      | 8.47%                 | Yes           |                  2 | On Loan: No      |
| A&D MORTGAGE TRUST                                  | A&D MORTGAGE TRUST 2024-NQM2 ADMT 2024-NQM2 B1                           | CUSIP: 00002NAE7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1807000 | PA      | $1837296.52    | 0.11%             | 2069-04-25      | Floating      | 8.38%                 | Yes           |                  2 | On Loan: No      |
| A&D MORTGAGE TRUST                                  | A&D MORTGAGE TRUST 2025-NQM5 ADMT 2025-NQM5 B1                           | CUSIP: 00250AAG9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1797000 | PA      | $1781579.22    | 0.11%             | 2070-12-25      | Floating      | 6.88%                 | Yes           |                  2 | On Loan: No      |
| A10 ISSUER LLC                                      | A10 2025-FL6 ISSUER LLC A10 2025-FL6 A                                   | CUSIP: 00028AAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     4000000 | PA      | $3993724.00    | 0.25%             | 2042-05-15      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| A10 ISSUER LLC                                      | A10 2025-FL6 ISSUER LLC A10 2025-FL6 E                                   | CUSIP: 00028AAL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     1000000 | PA      | $1002498.00    | 0.06%             | 2042-05-15      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| ACHM TRUST                                          | ACHM TRUST 2024-HE2 ACHM 2024-HE2 A                                      | CUSIP: 00112DAA4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     7483417 | PA      | $7514860.60    | 0.46%             | 2039-10-25      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| ACHM TRUST                                          | ACHM TRUST 2025-HE1 ACHM 2025-HE1 A                                      | CUSIP: 00449SAA5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2960234 | PA      | $3000068.18    | 0.18%             | 2055-03-25      | Floating      | 5.92%                 | Yes           |                  2 | On Loan: No      |
| ACHV ABS TRUST                                      | ACHV ABS TRUST 2023-4CP ACHV 2023-4CP E                                  | CUSIP: 00092CAE2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      360883 | PA      | $364365.36     | 0.02%             | 2030-11-25      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| ACREC LTD                                           | ACREC 2021-FL1 LTD ACREC 2021-FL1 E                                      | CUSIP: 00500RAL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1030000 | PA      | $1020825.79    | 0.06%             | 2036-10-16      | Floating      | 6.85%                 | Yes           |                  2 | On Loan: No      |
| ACREC LTD                                           | ACREC 2025 FL 3 LLC ACREC 2025-FL3 A                                     | CUSIP: 00112HAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     5000000 | PA      | $4999975.00    | 0.31%             | 2042-08-18      | Floating      | 5.04%                 | Yes           |                  2 | On Loan: No      |
| ACRISURE, LLC                                       | ACRISURE LLC / ACRISURE FINANCE INC 144A 8.500000% 06/15/2029            | CUSIP: 00489LAM5<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | DBT              | CORP              | US        |     4173000 | PA      | $4366789.95    | 0.27%             | 2029-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH, LLC                                    | ADAPTHEALTH LLC 144A 6.125000% 08/01/2028                                | CUSIP: 00653VAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2310000 | PA      | $2327278.80    | 0.14%             | 2028-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| A&D MORTGAGE TRUST                                  | ADMT 2024-NQM6 ADMT 2024-NQM6 B1A                                        | CUSIP: 00249YAG1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1918000 | PA      | $1955596.25    | 0.12%             | 2070-01-25      | Floating      | 7.28%                 | Yes           |                  2 | On Loan: No      |
| A&D MORTGAGE TRUST                                  | ADMT 2024-NQM6 ADMT 2024-NQM6 B1B                                        | CUSIP: 00249YAH9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      400000 | PA      | $397746.00     | 0.02%             | 2070-01-25      | Floating      | 7.28%                 | Yes           |                  2 | On Loan: No      |
| A&D MORTGAGE TRUST                                  | ADMT 2024-NQM6 ADMT 2024-NQM6 B2                                         | CUSIP: 00249YAJ5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      410000 | PA      | $392060.45     | 0.02%             | 2070-01-25      | Floating      | 7.28%                 | Yes           |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS, INC.                            | ADVANCE AUTO PARTS INC 144A 7.000000% 08/01/2030                         | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |     1726000 | PA      | $1735139.17    | 0.11%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AFFIRM ASSET SECURITIZATION TRUST                   | AFFIRM ASSET SECURITIZATION TRUST 2023-X1 AFFRM 2023-X1 D                | CUSIP: 00834KAD9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |       93141 | PA      | $93579.64      | 0.01%             | 2028-11-15      | Fixed         | 9.55%                 | Yes           |                  2 | On Loan: No      |
| AFFIRM ASSET SECURITIZATION TRUST                   | AFFIRM ASSET SECURITIZATION TRUST 2024-A AFFRM 2024-A D                  | CUSIP: 00834BAD9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1300000 | PA      | $1302757.30    | 0.08%             | 2029-02-15      | Fixed         | 6.89%                 | Yes           |                  2 | On Loan: No      |
| AFFIRM ASSET SECURITIZATION TRUST                   | AFFIRM ASSET SECURITIZATION TRUST 2024-B AFFRM 2024-B E                  | CUSIP: 00835AAE8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2000000 | PA      | $2011875.60    | 0.12%             | 2029-09-15      | Fixed         | 7.35%                 | Yes           |                  2 | On Loan: No      |
| AFFIRM MASTER TRUST                                 | AFFIRM MASTER TRUST AFRMT 2025-1A E                                      | CUSIP: 00833BAE8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     5000000 | PA      | $5037364.00    | 0.31%             | 2033-02-15      | Fixed         | 7.18%                 | Yes           |                  2 | On Loan: No      |
| OSAIC HOLDINGS, INC.                                | AG ISSUER LLC 144A 6.250000% 03/01/2028                                  | CUSIP: 00119LAA9<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |      881000 | PA      | $884993.57     | 0.05%             | 2028-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | AI Power & Renewables TRS                                                | CUSIP: N/A<br>LEI: 213800IQAOC5HG62T347       | N/A              | DE               |  | US        |      245717 | NC      | $-263285.76    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| AKAMAI TECHNOLOGIES, INC.                           | AKAMAI TECHNOLOGIES INC 144A 0.250000% 05/15/2033                        | CUSIP: 00971TAP6<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | DBT              | CORP              | US        |     6958000 | PA      | $7692069.00    | 0.47%             | 2033-05-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| AKAMAI TECHNOLOGIES, INC.                           | AKAMAI TECHNOLOGIES INC COMMON STOCK                                     | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Short            | EC               |  | US        |      -55356 | NS      | $-4829811.00   | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| ALBEMARLE CORPORATION                               | ALBEMARLE CORP COMMON STOCK                                              | CUSIP: N/A<br>LEI: HDBLS2Q6GV1LSKQPBS54       | Short            | EC               |  | US        |       -8181 | NS      | $-1157120.64   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Limited                       | ALIBABA GROUP HOLDING LTD 0.500000% 06/01/2031                           | CUSIP: 01609WBG6<br>LEI: 5493001NTNQJDH60PM02 | Long             | DBT              | CORP              | CN        |     2474000 | PA      | $3842122.00    | 0.24%             | 2031-06-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Limited                       | ALIBABA GROUP HOLDING-SP ADR DEPOSITARY RECEIPT                          | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Short            | EC               |  | CN        |      -20557 | NS      | $-3013245.06   | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| ALLIANT ENERGY CORPORATION                          | ALLIANT ENERGY CORP 144A 3.250000% 05/30/2028                            | CUSIP: 018802AD0<br>LEI: 5493009ML300G373MZ12 | Long             | DBT              | CORP              | US        |     4489000 | PA      | $4580575.60    | 0.28%             | 2028-05-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ALLIANT ENERGY CORPORATION                          | ALLIANT ENERGY CORP COMMON STOCK                                         | CUSIP: N/A<br>LEI: 5493009ML300G373MZ12       | Short            | EC               |  | US        |      -21297 | NS      | $-1384517.97   | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| ALLY BANK AUTO CREDIT-LINKED NOTES                  | ALLY BANK AUTO CREDIT-LINKED NOTES SERIES 2024-A ABCLN 2024-A G          | CUSIP: 02007G2A0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      287777 | PA      | $299289.46     | 0.02%             | 2032-05-17      | Fixed         | 12.75%                | Yes           |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS LLC                          | AMNEAL PHARMACEUTICALS LLC 144A 6.875000% 08/01/2032                     | CUSIP: 03168LAA3<br>LEI: 54930037VIXE7LRZ1M66 | Long             | DBT              | CORP              | US        |      686000 | PA      | $724628.66     | 0.04%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ANCHORAGE CAPITAL CLO LTD                           | ANCHORAGE CAPITAL CLO 21 LTD ANCHC 2021-21A ER                           | CUSIP: 03331LAJ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      470000 | PA      | $455202.05     | 0.03%             | 2034-10-20      | Floating      | 10.13%                | Yes           |                  2 | On Loan: No      |
| ANCHORAGE CAPITAL CLO LTD                           | ANCHORAGE CAPITAL CLO 28 LTD ANCHC 2024-28A E                            | CUSIP: 03330VAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1420000 | PA      | $1418689.34    | 0.09%             | 2037-04-20      | Floating      | 10.83%                | Yes           |                  2 | On Loan: No      |
| ANGEL OAK MORTGAGE TRUST                            | ANGEL OAK MORTGAGE TRUST 2025-8 AOMT 2025-8 B1                           | CUSIP: 03466UAE4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1205000 | PA      | $1205236.90    | 0.07%             | 2070-07-25      | Floating      | 6.99%                 | Yes           |                  2 | On Loan: No      |
| APIDOS CLO                                          | APIDOS CLO XXIII APID 2015-23A ERR                                       | CUSIP: 03766QAJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2155000 | PA      | $2143205.69    | 0.13%             | 2033-04-15      | Floating      | 9.10%                 | Yes           |                  2 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT, INC.                      | APOLLO GLOBAL MANAGEMENT INC COMMON STOCK                                | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Short            | EC               |  | US        |      -17808 | NS      | $-2577886.08   | -0.16%            |  |  |  | No            |                  1 | On Loan: No      |
| AQUA FINANCE TRUST                                  | AQUA FINANCE TRUST 2024-A AQFIT 2024-A A                                 | CUSIP: 03837DAA2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     6187703 | PA      | $6246283.01    | 0.38%             | 2050-04-18      | Fixed         | 4.81%                 | Yes           |                  2 | On Loan: No      |
| ARBOR REALTY COMMERCIAL REAL ESTATE NOTES LTD       | ARBOR REALTY COMMERCIAL REAL ESTATE NOTES 2022-FL1 ARCLO 2022-FL1 D      | CUSIP: 03880XAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1580000 | PA      | $1580184.86    | 0.10%             | 2037-01-15      | Floating      | 6.98%                 | Yes           |                  2 | On Loan: No      |
| ARBOR REALTY COMMERCIAL REAL ESTATE NOTES LTD       | ARBOR REALTY COMMERCIAL REAL ESTATE NOTES 2025-FL1 ARCREN 2025-FL1 E     | CUSIP: 03881KAL7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     3420000 | PA      | $3418057.44    | 0.21%             | 2043-01-20      | Floating      | 7.68%                 | Yes           |                  2 | On Loan: No      |
| ARBOR REALTY SR, INC.                               | ARBOR REALTY SR INC 144A 7.875000% 07/15/2030                            | CUSIP: 03881NAJ6<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              | CORP              | US        |     2021000 | PA      | $1931035.75    | 0.12%             | 2030-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY SR, INC.                               | ARBOR REALTY SR INC 144A 7.875000% 07/15/2030                            | CUSIP: 03881NAJ6<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              | CORP              | US        |      980000 | PA      | $936375.57     | 0.06%             | 2030-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY SR, INC.                               | ARBOR REALTY SR INC 144A 8.500000% 12/15/2028                            | CUSIP: 03881NAL1<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              | CORP              | US        |      150000 | PA      | $149400.56     | 0.01%             | 2028-12-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY SR, INC.                               | ARBOR REALTY SR INC 144A 8.500000% 12/15/2028                            | CUSIP: 03881NAL1<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              | CORP              | US        |     2257000 | PA      | $2247980.35    | 0.14%             | 2028-12-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ARCOSA, INC.                                        | ARCOSA INC 144A 6.875000% 08/15/2032                                     | CUSIP: 039653AC4<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |     1010000 | PA      | $1064670.84    | 0.07%             | 2032-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ARDONAGH FINCO LIMITED                              | ARDONAGH FINCO LTD 144A 7.750000% 02/15/2031                             | CUSIP: 039853AA4<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | NUSS              | GB        |     1451000 | PA      | $1521162.80    | 0.09%             | 2031-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| AREIT LTD.                                          | AREIT 2022-CRE6 TRUST AREIT 2022-CRE6 D                                  | CUSIP: 04002VAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      270000 | PA      | $269997.30     | 0.02%             | 2037-01-20      | Floating      | 6.79%                 | Yes           |                  2 | On Loan: No      |
| ARES CAPITAL CORPORATION.                           | ARES CAPITAL CORP 5.875000% 03/01/2029                                   | CUSIP: 04010LBF9<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |     1565000 | PA      | $1605425.22    | 0.10%             | 2029-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ARES CLO LTD                                        | ARES LII CLO LTD ARES 2019-52A ERR                                       | CUSIP: 04009FAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      110000 | PA      | $109279.17     | 0.01%             | 2031-04-22      | Floating      | 9.36%                 | Yes           |                  2 | On Loan: No      |
| ARES MANAGEMENT CORPORATION                         | ARES MANAGEMENT CORP - A COMMON STOCK                                    | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Short            | EC               |  | US        |      -15057 | NS      | $-2433662.91   | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| ARKO CORP.                                          | ARKO CORP 144A 5.125000% 11/15/2029                                      | CUSIP: 041242AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2090000 | PA      | $1790316.57    | 0.11%             | 2029-11-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ATLANTICUS HOLDINGS CORPORATION                     | ATLANTICUS HOLDINGS CORP 144A 9.750000% 09/01/2030                       | CUSIP: 04914AAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1899000 | PA      | $1901371.85    | 0.12%             | 2030-09-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| AVANT LOANS FUNDING TRUST                           | AVANT LOANS FUNDING TRUST 2025-REV1 AVNT 2025-REV1 D                     | CUSIP: 05352BAD0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      725000 | PA      | $738699.75     | 0.05%             | 2034-05-15      | Fixed         | 8.39%                 | Yes           |                  2 | On Loan: No      |
| AVIENT CORPORATION                                  | AVIENT CORP 144A 6.250000% 11/01/2031                                    | CUSIP: 05368VAB2<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |     1335000 | PA      | $1372189.10    | 0.08%             | 2031-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AVNET, INC.                                         | AVNET INC 144A 1.750000% 09/01/2030                                      | CUSIP: 053807AY9<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | DBT              | CORP              | US        |     4665000 | PA      | $4597357.50    | 0.28%             | 2030-09-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| AVNET, INC.                                         | AVNET INC COMMON STOCK                                                   | CUSIP: N/A<br>LEI: XJI53DCPL7QABOWK4Z75       | Short            | EC               |  | US        |      -25226 | NS      | $-1212866.08   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| ADAMAS TRUST, INC.                                  | Adamas Trust Inc PREFERRED STOCK                                         | CUSIP: 649604865<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EP               |  | US        |       34100 | NS      | $763158.00     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| ALBEMARLE CORPORATION                               | Albemarle Corp PREFERRED STOCK                                           | CUSIP: N/A<br>LEI: HDBLS2Q6GV1LSKQPBS54       | Long             | EP               |  | US        |       22725 | NS      | $1349637.75    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT, INC.                      | Apollo Global Management Inc PREFERRED STOCK                             | CUSIP: 03769M304<br>LEI: 254900LMFT1CY9IYB476 | Long             | EP               |  | US        |       37500 | NS      | $2832000.00    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| ARES MANAGEMENT CORPORATION                         | Ares Management Corp PREFERRED STOCK                                     | CUSIP: 03990B309<br>LEI: 529900JUV61FH7B8VW38 | Long             | EP               |  | US        |       63113 | NS      | $3180895.20    | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| B&G FOODS, INC.                                     | B&G FOODS INC 144A 8.000000% 09/15/2028                                  | CUSIP: 05508WAC9<br>LEI: 549300TRW1LZMDJZAQ78 | Short            | DBT              | CORP              | US        |     -834000 | PA      | $-820547.47    | -0.05%            | 2028-09-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Bank of America                                     | BAML Commodity Vol TRS                                                   | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DE               |  | US        |      170315 | NC      | $-919.70       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA                                     | BAML FX Multi-Factor TRS                                                 | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DE               |  | US        |      450418 | NC      | $-1431293.28   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BANK OF AMERICA COLLATERAL BALANCE FS FUNDS                              | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |     1084196 | PA      | $1084195.96    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BANK OF AMERICA COLLATERAL BALANCE FS FUNDS                              | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |      480000 | PA      | $480000.00     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BANK OF AMERICA COLLATERAL BALANCE FS FUNDS                              | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |     1685705 | PA      | $1685704.56    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BANK OF AMERICA COLLATERAL BALANCE FS FUNDS                              | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |     1930000 | PA      | $1930000.00    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | BARCLAYS BANK PLC MTN ZERO COUPON 12/29/2026                             | CUSIP: YK3073250<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | NUSS              | GB        |    30000000 | PA      | $33405090.00   | 2.05%             | 2025-12-29      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | BARCLAYS BANK PLC MTN ZERO COUPON 12/29/2026                             | CUSIP: G079C4Z57<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | NUSS              | GB        |    39149194 | PA      | $35310145.74   | 2.17%             | 2025-12-29      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | BARCLAYS BANK PLC MTN ZERO COUPON 12/29/2026                             | CUSIP: G079BTVK4<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | NUSS              | GB        |   153220861 | PA      | $176056898.10  | 10.82%            | 2025-12-29      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | BARCLAYS COLLATERAL BALANCE FS FUNDS                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |      560000 | PA      | $560000.00     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BARINGS EURO CLO DAC                                | BARINGS EURO CLO 2024-1 DAC BABSE 2024-1A D                              | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-CBDO         | CORP              | IE        |      875000 | PA      | $1027482.31    | 0.06%             | 2037-07-20      | Floating      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Bausch + Lomb Corporation                           | BAUSCH + LOMB CORP 144A 8.375000% 10/01/2028                             | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | NUSS              | US        |     1506000 | PA      | $1571887.50    | 0.10%             | 2028-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BDS LTD                                             | BDS 2024-FL13 LLC BDS 2024-FL13 A                                        | CUSIP: 05555MAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     8000000 | PA      | $8016696.00    | 0.49%             | 2039-09-19      | Floating      | 5.31%                 | Yes           |                  2 | On Loan: No      |
| BEACON MOBILITY FINANCE CORP.                       | BEACON MOBILITY CORP 144A 7.250000% 08/01/2030                           | CUSIP: 073644AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1602000 | PA      | $1675493.43    | 0.10%             | 2030-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LTD.                                  | BELLEMEADE RE 2025-1 LTD BMIR 2025-1 M1B                                 | CUSIP: 07876NAB1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1250000 | PA      | $1257388.63    | 0.08%             | 2035-10-25      | Floating      | 6.37%                 | Yes           |                  2 | On Loan: No      |
| BELLEMEADE RE LTD.                                  | BELLEMEADE RE 2025-1 LTD BMIR 2025-1 M1C                                 | CUSIP: 07876NAC9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      750000 | PA      | $754516.58     | 0.05%             | 2035-10-25      | Floating      | 7.12%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | BLCKRCK CASH-TRSRY-INST MONEY MARKET                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |     2061620 | PA      | $2061620.11    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BLCKRCK CASH-TRSRY-INST MONEY MARKET                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   250000000 | PA      | $250000000.00  | 15.36%            |  |  |  | No            |                  2 | On Loan: No      |
| BLOOM ENERGY CORPORATION                            | BLOOM ENERGY CORP 144A ZERO COUPON 11/15/2030                            | CUSIP: 093712AN7<br>LEI: 549300XB5J9BFW5JXV97 | Long             | DBT              | CORP              | US        |      450000 | PA      | $391500.00     | 0.02%             | 2030-11-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BLOOM ENERGY CORPORATION                            | BLOOM ENERGY CORP- A COMMON STOCK                                        | CUSIP: N/A<br>LEI: 549300XB5J9BFW5JXV97       | Short            | EC               |  | US        |       -1754 | NS      | $-152405.06    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| BLP COMMERCIAL MORTGAGE TRUST                       | BLP COMMERCIAL MORTGAGE TRUST 2025-IND2 BLP 2025-IND2 E                  | CUSIP: 05556WAJ5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3380000 | PA      | $3384223.65    | 0.21%             | 2042-12-15      | Floating      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORPORATION                        | BLUE OWL CAPITAL CORP 6.200000% 07/15/2030                               | CUSIP: 69121KAJ3<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |      265000 | PA      | $268329.24     | 0.02%             | 2030-07-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME CORP.                        | BLUE OWL CREDIT INCOME CORP 5.800000% 03/15/2030                         | CUSIP: 09581CAD3<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |     2401000 | PA      | $2398023.74    | 0.15%             | 2030-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINANCE CORP.                   | BLUE OWL TECHNOLOGY FINANCE CORP 6.750000% 04/04/2029                    | CUSIP: 69121JAB3<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |      959000 | PA      | $980854.63     | 0.06%             | 2029-04-04      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BLUE STREAM ISSUER LLC                              | BLUE STREAM ISSUER LLC BSTRM 2023-1A C                                   | CUSIP: 09606BAE4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1000000 | PA      | $1021419.50    | 0.06%             | 2053-05-20      | Fixed         | 8.90%                 | Yes           |                  2 | On Loan: No      |
| BLUEPEAK FIBER                                      | BLUEPEAK ABS ISSUER LLC BPEAK 2025-1A B                                  | CUSIP: 09631QAB6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1000000 | PA      | $1010263.80    | 0.06%             | 2055-12-20      | Fixed         | 6.49%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | BNP COLLATERAL BALANCE FS FUNDS                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |      520000 | PA      | $520000.00     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas                                         | BNP FX STEER TRS                                                         | CUSIP: TFXSTG200<br>LEI: 74KKBLHM4AWY05GPNY79 | N/A              | DE               |  | US        |      250333 | NC      | $130198.19     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas                                         | BNP Paribas FX Mean Reversion G10 Selection USD Index TRS                | CUSIP: TFXMRGU02<br>LEI: 74KKBLHM4AWY05GPNY79 | N/A              | DE               |  | US        |      227561 | NC      | $-188875.67    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BOSTON PROPERTIES LIMITED PARTNERSHIP               | BOSTON PROPERTIES LP 144A 2.000000% 10/01/2030                           | CUSIP: 10112RBM5<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |     4950000 | PA      | $4779225.00    | 0.29%             | 2030-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BRAVO RESIDENTIAL FUNDING TRUST                     | BRAVO RESIDENTIAL FUNDING TRUST 2024-NQM1 BRAVO 2024-NQM1 B2             | CUSIP: 10570FAF2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      100000 | PA      | $100708.38     | 0.01%             | 2063-12-01      | Floating      | 8.12%                 | Yes           |                  2 | On Loan: No      |
| BREAD FINANCIAL HOLDINGS, INC.                      | BREAD FINANCIAL HOLDINGS INC 144A 6.750000% 05/15/2031                   | CUSIP: 018581AR9<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |      347000 | PA      | $359254.31     | 0.02%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BREX COMMERCIAL CHARGE CARD MASTER TRUST            | BREX COMMERCIAL CHARGE CARD MASTER TRUST BREX 2024-1 B                   | CUSIP: 05601DAG8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      500000 | PA      | $501041.50     | 0.03%             | 2027-07-15      | Fixed         | 11.59%                | Yes           |                  2 | On Loan: No      |
| N/A                                                 | BRK: BANK OF AMERICA COL: 58004JAA0                                      | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -1846000 | PA      | $-1846000.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: BANK OF AMERICA COL: 95004EAA3                                      | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -6425000 | PA      | $-6425000.00   | -0.39%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: BANK OF AMERICA COL: 95004EAA3                                      | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -1606000 | PA      | $-1606000.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: CITIGROUP COL: 95004VAA5                                            | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -1597120 | PA      | $-1597120.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: JP MORGAN CHASE BANK NA COL: 403945AC2                              | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -3227000 | PA      | $-3227000.00   | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: JP MORGAN CHASE BANK NA COL: 500937AA5                              | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -4657000 | PA      | $-4657000.00   | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: JP MORGAN CHASE BANK NA COL: 85520AAA7                              | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -8042319 | PA      | $-8042318.94   | -0.49%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: JP MORGAN CHASE BANK NA COL: 91825KAA5                              | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |     -707000 | PA      | $-707000.00    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: MERRILL LYNCH, PIERCE, FENNER & SMITH COL: 05555MAA7                | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -2400000 | PA      | $-2400000.00   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: MERRILL LYNCH, PIERCE, FENNER & SMITH COL: 05613RAA6                | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -4012000 | PA      | $-4012000.00   | -0.25%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: MERRILL LYNCH, PIERCE, FENNER & SMITH COL: 05613RAA6                | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -3972000 | PA      | $-3972000.00   | -0.24%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: MERRILL LYNCH, PIERCE, FENNER & SMITH COL: 05613YAA1                | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -4000000 | PA      | $-4000000.00   | -0.25%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: MERRILL LYNCH, PIERCE, FENNER & SMITH COL: 500937AA5                | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -1553000 | PA      | $-1553000.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: MERRILL LYNCH, PIERCE, FENNER & SMITH COL: 55284JAA7                | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -5698000 | PA      | $-5698000.00   | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: MERRILL LYNCH, PIERCE, FENNER & SMITH COL: 58004JAA0                | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -1067000 | PA      | $-1067000.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: MERRILL LYNCH, PIERCE, FENNER & SMITH COL: 66858CAQ0                | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -8012000 | PA      | $-8012000.00   | -0.49%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BRK: MERRILL LYNCH, PIERCE, FENNER & SMITH COL: 749414AA6                | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |    -3031000 | PA      | $-3031000.00   | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| BRIGHTSPIRE CAPITAL                                 | BRSP 2024-FL2 LTD BRSP 2024-FL2 D                                        | CUSIP: 05613BAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     2000000 | PA      | $1987294.00    | 0.12%             | 2037-08-19      | Floating      | 8.57%                 | Yes           |                  2 | On Loan: No      |
| BSPRT ISSUER, LTD.                                  | BSPRT 2024-FL11 ISSUER LLC BSPRT 2024-FL11 A                             | CUSIP: 05613RAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    10000000 | PA      | $10006900.00   | 0.61%             | 2039-07-15      | Floating      | 5.39%                 | Yes           |                  2 | On Loan: No      |
| BW REAL ESTATE, INC.                                | BW REAL ESTATE INC 144A 9.500000% MATURITY: PERPETUAL                    | CUSIP: 05614HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1136000 | PA      | $1162941.38    | 0.07%             | 2174-06-30      | Variable      | 9.50%                 | No            |                  2 | On Loan: No      |
| BX TRUST                                            | BX TRUST 2024-VLT4 BX 2024-VLT4 F                                        | CUSIP: 05612TAL9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3750000 | PA      | $3754350.00    | 0.23%             | 2041-06-15      | Floating      | 7.69%                 | Yes           |                  2 | On Loan: No      |
| BX TRUST                                            | BX TRUST 2025-VLT6 BX 2025-VLT6 D                                        | CUSIP: 12433KAG2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1500000 | PA      | $1495803.00    | 0.09%             | 2042-03-15      | Floating      | 6.34%                 | Yes           |                  2 | On Loan: No      |
| BX TRUST                                            | BX TRUST 2025-VLT6 BX 2025-VLT6 E                                        | CUSIP: 12433KAJ6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     4300000 | PA      | $4282624.56    | 0.26%             | 2042-03-15      | Floating      | 6.94%                 | Yes           |                  2 | On Loan: No      |
| BX TRUST                                            | BX TRUST 2025-VLT7 BX 2025-VLT7 D                                        | CUSIP: 123913AG0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     5000000 | PA      | $5015565.50    | 0.31%             | 2044-07-15      | Floating      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| BX TRUST                                            | BX TRUST 2025-VLT7 BX 2025-VLT7 E                                        | CUSIP: 123913AJ4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     7500000 | PA      | $7481301.75    | 0.46%             | 2044-07-15      | Floating      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| BXMT LTD.                                           | BXMT 2025-FL5 LTD BXMT 2025-FL5 A                                        | CUSIP: 05613YAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     5000000 | PA      | $4982070.00    | 0.31%             | 2042-10-18      | Floating      | 5.37%                 | Yes           |                  2 | On Loan: No      |
| BXP, INC.                                           | BXP INC REIT                                                             | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Short            | EC               |  | US        |      -26775 | NS      | $-1806777.00   | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Property Preferred L.P.                  | Brookfield Property Preferred LP PREFERRED STOCK                         | CUSIP: G1624R107<br>LEI: 254900N07TR905Y0G344 | Long             | EP               |  | US        |       20460 | NS      | $317130.00     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CABLE ONE, INC.                                     | CABLE ONE INC ZERO COUPON 03/15/2026                                     | CUSIP: 12685JAE5<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |     1610000 | PA      | $1585850.00    | 0.10%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| COREVEST AMERICAN FINANCE                           | CAFL 2021-RTL1 ISSUER LLC CAFL 2021-RTL1 A2                              | CUSIP: 12468RAC4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |       87887 | PA      | $83362.67      | 0.01%             | 2029-03-28      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| CORNERSTONE BUILDING BRANDS, INC.                   | CAMELOT RETURN MERGER SUB INC 144A 8.750000% 08/01/2028                  | CUSIP: 13323NAA0<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |     2095000 | PA      | $1623405.57    | 0.10%             | 2028-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CARVAL CLO LTD                                      | CARVAL CLO III LTD CARVL 2019-2A ER2                                     | CUSIP: 14686VAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      490000 | PA      | $478085.65     | 0.03%             | 2032-07-20      | Floating      | 9.88%                 | Yes           |                  2 | On Loan: No      |
| CARVANA AUTO RECEIVABLES TRUST                      | CARVANA AUTO RECEIVABLES TRUST 2024-N3 CRVNA 2024-N3 E                   | CUSIP: 14687WAG5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2120000 | PA      | $2124468.96    | 0.13%             | 2032-04-12      | Fixed         | 7.66%                 | Yes           |                  2 | On Loan: No      |
| CARVANA AUTO RECEIVABLES TRUST                      | CARVANA AUTO RECEIVABLES TRUST 2025-N1 CRVNA 2025-N1 E                   | CUSIP: 14688XAG2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     5058000 | PA      | $5067321.89    | 0.31%             | 2032-08-10      | Fixed         | 7.73%                 | Yes           |                  2 | On Loan: No      |
| CARVANA CO.                                         | CARVANA CO 144A 13.000000% 06/01/2030                                    | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |     5536000 | PA      | $5802475.36    | 0.36%             | 2030-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CFMT ISSUER TRUST                                   | CASCADE FUNDING MORTGAGE TRUST 2021-FRR1 CFMT 2021-FRR1 CK98             | CUSIP: 12529YCA8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      260000 | PA      | $184413.84     | 0.01%             | 2029-08-29      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                            | CELANESE US HOLDINGS LLC 6.500000% 04/15/2030                            | CUSIP: 15089QAZ7<br>LEI: CD30XVRLT4QO00B1C706 | Short            | DBT              | CORP              | US        |    -1073000 | PA      | $-1078365.00   | -0.07%            | 2030-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY, INC.                            | CENTERPOINT ENERGY INC 144A 3.000000% 08/01/2028                         | CUSIP: 15189TBQ9<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |     6913000 | PA      | $6997338.60    | 0.43%             | 2028-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY, INC.                            | CENTERPOINT ENERGY INC COMMON STOCK                                      | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Short            | EC               |  | US        |      -47446 | NS      | $-1819079.64   | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| CENTURY COMMUNITIES, INC.                           | CENTURY COMMUNITIES INC 144A 3.875000% 08/15/2029                        | CUSIP: 156504AM4<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |     1276000 | PA      | $1213229.99    | 0.07%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CHASE HOME LENDING MORTGAGE TRUST                   | CHASE HOME LENDING MORTGAGE TRUST SERIES 2024-4 CHASE 2024-4 AX1         | CUSIP: 16159NAX2<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     8018956 | PA      | $9959.54       | 0.00%             | 2055-03-25      | Floating      | 0.13%                 | Yes           |                  2 | On Loan: No      |
| CHASE HOME LENDING MORTGAGE TRUST                   | CHASE HOME LENDING MORTGAGE TRUST SERIES 2024-5 CHASE 2024-5 AX1         | CUSIP: 16159QAX5<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    11292755 | PA      | $27012.27      | 0.00%             | 2055-04-25      | Floating      | 0.23%                 | Yes           |                  2 | On Loan: No      |
| THE CHEESECAKE FACTORY INCORPORATED                 | CHEESECAKE FACTORY INC/THE 144A 2.000000% 03/15/2030                     | CUSIP: 163072AB7<br>LEI: 529900872XMLK10SY247 | Long             | DBT              | CORP              | US        |     1000000 | PA      | $979500.00     | 0.06%             | 2030-03-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| THE CHEESECAKE FACTORY INCORPORATED                 | CHEESECAKE FACTORY INC/THE COMMON STOCK                                  | CUSIP: 163072101<br>LEI: 529900872XMLK10SY247 | Short            | EC               |  | US        |       -7775 | NS      | $-392482.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| CIFC FUNDING LTD                                    | CIFC FUNDING 2017-IV LTD CIFC 2017-4A D                                  | CUSIP: 12551KAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      700000 | PA      | $699990.90     | 0.04%             | 2030-10-24      | Floating      | 10.23%                | No            |                  2 | On Loan: No      |
| CIFC FUNDING LTD                                    | CIFC FUNDING 2021-VII LTD CIFC 2021-7A ER                                | CUSIP: 12567KAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1500000 | PA      | $1483305.00    | 0.09%             | 2035-01-23      | Floating      | 8.76%                 | Yes           |                  2 | On Loan: No      |
| CIFC FUNDING LTD                                    | CIFC FUNDING 2022-IV LTD CIFC 2022-4A ER                                 | CUSIP: 12567XAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      750000 | PA      | $741517.50     | 0.05%             | 2035-07-16      | Floating      | 9.14%                 | Yes           |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP                                   | CLARIOS GLOBAL LP / CLARIOS US FINANCE CO 144A 6.750000% 09/15/2032      | CUSIP: 18060TAE5<br>LEI: 549300474L1ZLXZY2P98 | Long             | DBT              | NUSS              | US        |     6002000 | PA      | $6224028.99    | 0.38%             | 2032-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HOLDINGS, INC.                | CLEAR CHANNEL OUTDOOR HOLDINGS INC 144A 7.875000% 04/01/2030             | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     1747000 | PA      | $1839928.17    | 0.11%             | 2030-04-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CLNY TRUST                                          | CLNY TRUST 2019-IKPR CLNY 2019-IKPR C                                    | CUSIP: 12564NAJ1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2122000 | PA      | $2037212.09    | 0.13%             | 2038-11-15      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| CLNY TRUST                                          | CLNY TRUST 2019-IKPR CLNY 2019-IKPR D                                    | CUSIP: 12564NAL6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      450000 | PA      | $423019.53     | 0.03%             | 2038-11-15      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| CLUE OPCO LLC                                       | CLUE OPCO LLC 144A 9.500000% 10/15/2031                                  | CUSIP: 36267QAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2993000 | PA      | $3165037.64    | 0.19%             | 2031-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CMS ENERGY CORPORATION                              | CMS ENERGY CORP 3.375000% 05/01/2028                                     | CUSIP: 125896BX7<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |     6447000 | PA      | $6895066.50    | 0.42%             | 2028-05-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CMS ENERGY CORPORATION                              | CMS ENERGY CORP COMMON STOCK                                             | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Short            | EC               |  | US        |      -41836 | NS      | $-2925591.48   | -0.18%            |  |  |  | No            |                  1 | On Loan: No      |
| COINBASE GLOBAL, INC.                               | COINBASE GLOBAL INC -CLASS A COMMON STOCK                                | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Short            | EC               |  | US        |       -7932 | NS      | $-1793742.48   | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| COINBASE GLOBAL, INC.                               | COINBASE GLOBAL INC 144A ZERO COUPON 10/01/2029                          | CUSIP: 19260QAG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     5301000 | PA      | $4918267.80    | 0.30%             | 2029-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| COLOGIX DATA CENTERS US ISSUER, LLC                 | COLOGIX DATA CENTERS US ISSUER LLC CLGIX 2021-1A A2                      | CUSIP: 19521UAA1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     5000000 | PA      | $4914115.00    | 0.30%             | 2051-12-26      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| COLOGIX DATA CENTERS US ISSUER, LLC                 | COLOGIX DATA CENTERS US ISSUER LLC CLGIX 2021-1A C                       | CUSIP: 19521UAE3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2000000 | PA      | $1968964.60    | 0.12%             | 2051-12-26      | Fixed         | 5.99%                 | Yes           |                  2 | On Loan: No      |
| COLT MORTGAGE LOAN TRUST                            | COLT 2025-1 MORTGAGE LOAN TRUST COLT 2025-1 B2                           | CUSIP: 196920AH5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      300000 | PA      | $299069.07     | 0.02%             | 2070-01-25      | Floating      | 7.12%                 | Yes           |                  2 | On Loan: No      |
| COLT MORTGAGE LOAN TRUST                            | COLT 2025-4 MORTGAGE LOAN TRUST COLT 2025-4 B1                           | CUSIP: 12674HAE2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      920000 | PA      | $940989.06     | 0.06%             | 2070-04-25      | Floating      | 7.53%                 | Yes           |                  2 | On Loan: No      |
| COMM MORTGAGE TRUST                                 | COMM 2014-UBS6 MORTGAGE TRUST COMM 2014-UBS6 D                           | CUSIP: 12592PAJ2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1780000 | PA      | $1664282.20    | 0.10%             | 2047-12-10      | Floating      | 3.91%                 | No            |                  2 | On Loan: No      |
| COMM MORTGAGE TRUST                                 | COMM 2024-CBM MORTGAGE TRUST COMM 2024-CBM E                             | CUSIP: 12674GAN4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      610000 | PA      | $618075.12     | 0.04%             | 2041-12-10      | Floating      | 7.93%                 | Yes           |                  2 | On Loan: No      |
| COMM MORTGAGE TRUST                                 | COMM 2024-CBM MORTGAGE TRUST COMM 2024-CBM F                             | CUSIP: 12674GAQ7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2020000 | PA      | $1973252.76    | 0.12%             | 2041-12-10      | Floating      | 7.93%                 | Yes           |                  2 | On Loan: No      |
| COMM MORTGAGE TRUST                                 | COMM 2024-WCL1 MORTGAGE TRUST COMM 2024-WCL1 D                           | CUSIP: 20047DAG9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1000000 | PA      | $999993.00     | 0.06%             | 2041-06-15      | Floating      | 7.04%                 | Yes           |                  2 | On Loan: No      |
| CONE TRUST                                          | CONE TRUST 2024-DFW1 CONE 2024-DFW1 C                                    | CUSIP: 20682AAJ9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     4500000 | PA      | $4499999.55    | 0.28%             | 2041-08-15      | Floating      | 6.44%                 | Yes           |                  2 | On Loan: No      |
| CONSOLIDATED COMMUNICATIONS LLC                     | CONSOLIDATED COMMUNICATIONS LLC/FIDIUM FIBER FINAN CNSL 2025-1A C        | CUSIP: 209031AC7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     5000000 | PA      | $5224578.50    | 0.32%             | 2055-05-20      | Fixed         | 9.41%                 | Yes           |                  2 | On Loan: No      |
| FIDIUM FIBER LLC                                    | CONSOLIDATED COMMUNICATIONS LLC/FIDIUM FIBER FINAN CNSL 2025-4A C        | CUSIP: 315961AE2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2500000 | PA      | $2550185.25    | 0.16%             | 2055-12-20      | Fixed         | 8.10%                 | Yes           |                  2 | On Loan: No      |
| CPS AUTO RECEIVABLES TRUST                          | CONSUMER PORTFOLIO SERVICES AUTO TRUST 2025-B CPS 2025-B E               | CUSIP: 12630SAE1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2620000 | PA      | $2716447.44    | 0.17%             | 2033-03-15      | Fixed         | 7.95%                 | Yes           |                  2 | On Loan: No      |
| CONVEXITY MSCBXAW7 10/07/2027                       | CONVEXITY MSCBXAW7 10/07/2027 LONG                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |   100000000 | NC      | $3236400.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CORNERSTONE BUILDING BRANDS, INC.                   | CORNERSTONE BUILDING BRANDS INC 144A 6.125000% 01/15/2029                | CUSIP: 21925DAA7<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |     1500000 | PA      | $751355.12     | 0.05%             | 2029-01-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CORNERSTONE BUILDING BRANDS, INC.                   | CORNERSTONE BUILDING BRANDS INC 144A 9.500000% 08/15/2029                | CUSIP: 21925DAB5<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |      961000 | PA      | $711140.00     | 0.04%             | 2029-08-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANCE CORPORATION                       | CREDIT ACCEPTANCE CORP 144A 6.625000% 03/15/2030                         | CUSIP: 225310AS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1780000 | PA      | $1783510.89    | 0.11%             | 2030-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANCE CORPORATION                       | CREDIT ACCEPTANCE CORP 144A 9.250000% 12/15/2028                         | CUSIP: 225310AQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4942000 | PA      | $5165174.69    | 0.32%             | 2028-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CROSS MORTGAGE TRUST                                | CROSS 2023-H1 MORTGAGE TRUST CROSS 2023-H1 B1                            | CUSIP: 22758CAE1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2500000 | PA      | $2521911.75    | 0.15%             | 2068-03-25      | Floating      | 8.28%                 | Yes           |                  2 | On Loan: No      |
| CROSS MORTGAGE TRUST                                | CROSS 2023-H2 MORTGAGE TRUST CROSS 2023-H2 B1                            | CUSIP: 22757NAG3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3760000 | PA      | $3798573.84    | 0.23%             | 2068-11-25      | Floating      | 8.37%                 | Yes           |                  2 | On Loan: No      |
| CROSS MORTGAGE TRUST                                | CROSS 2024-H1 MORTGAGE TRUST CROSS 2024-H1 B1                            | CUSIP: 22757AAG1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      100000 | PA      | $101508.92     | 0.01%             | 2068-12-25      | Floating      | 8.70%                 | Yes           |                  2 | On Loan: No      |
| CROSS MORTGAGE TRUST                                | CROSS 2024-H5 MORTGAGE TRUST CROSS 2024-H5 B1B                           | CUSIP: 22757HAF8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     4180000 | PA      | $4226698.96    | 0.26%             | 2069-08-26      | Floating      | 8.11%                 | Yes           |                  2 | On Loan: No      |
| CROSS MORTGAGE TRUST                                | CROSS 2025-H5 MORTGAGE TRUST CROSS 2025-H5 B1B                           | CUSIP: 227920AH8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2585000 | PA      | $2599743.03    | 0.16%             | 2070-07-25      | Floating      | 7.63%                 | Yes           |                  2 | On Loan: No      |
| CSMC TRUST                                          | CSMC 2021-GATE CSMC 2021-GATE D                                          | CUSIP: 12662UAG2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      480000 | PA      | $450670.56     | 0.03%             | 2036-12-15      | Floating      | 7.42%                 | Yes           |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                             | China A Shares TRS                                                       | CUSIP: N/A<br>LEI: KD3XUN7C6T14HNAYLU02       | N/A              | DE               |  | CN        |     2278000 | NC      | $2057312.42    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                             | China H Shares TRS                                                       | CUSIP: N/A<br>LEI: KD3XUN7C6T14HNAYLU02       | N/A              | DE               |  | HK        |   287719702 | NC      | $-1507188.32   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | Credit Default Swap                                                      | CUSIP: CD6205308<br>LEI: 984500653R409CC5AB28 | N/A              | DCR              |  | US        |     2620000 | NC      | $-248307.79    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | Credit Default Swap                                                      | CUSIP: CD6205304<br>LEI: 984500653R409CC5AB28 | N/A              | DCR              |  | US        |     9750000 | NC      | $-1671645.95   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | Credit Default Swap                                                      | CUSIP: CD6205303<br>LEI: 984500653R409CC5AB28 | N/A              | DCR              |  | US        |     2620000 | NC      | $-401644.11    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | Credit Default Swap                                                      | CUSIP: CD6205307<br>LEI: 984500653R409CC5AB28 | N/A              | DCR              |  | US        |    17030000 | NC      | $-2919808.27   | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | Credit Default Swap                                                      | CUSIP: CD6205305<br>LEI: 984500653R409CC5AB28 | N/A              | DCR              |  | US        |     1500000 | NC      | $-142160.95    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | Credit Default Swap                                                      | CUSIP: CD6205306<br>LEI: 984500653R409CC5AB28 | N/A              | DCR              |  | US        |     1500000 | NC      | $-229948.92    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                    | DB Equity Factor Rotation TRS                                            | CUSIP: N/A<br>LEI: 7LTWFZYICNSX8D621K86       | N/A              | DE               |  | US        |       16554 | NC      | $3040142.10    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| DEALER TIRE, LLC                                    | DEALER TIRE LLC / DT ISSUER LLC 144A 8.000000% 02/01/2028                | CUSIP: 24229JAA1<br>LEI: 549300XTS06OMOCRSE50 | Long             | DBT              | CORP              | US        |     4652000 | PA      | $4655684.38    | 0.29%             | 2028-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| DEEPHAVEN RESIDENTIAL MORTGAGE TRUST                | DEEPHAVEN RESIDENTIAL MORTGAGE TRUST 2025-INV1 DRMT 2025-INV1 B2         | CUSIP: 24382EAH0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1152000 | PA      | $1139865.29    | 0.07%             | 2060-11-25      | Floating      | 7.27%                 | Yes           |                  2 | On Loan: No      |
| DELEK LOGISTICS PARTNERS, LP                        | DELEK LOGISTICS PARTNERS LP / DELEK LOGISTICS FINA 7.125000% 06/01/2028  | CUSIP: 24665FAC6<br>LEI: 549300UVYITDIU51P724 | Long             | DBT              | CORP              | US        |     3223000 | PA      | $3241496.96    | 0.20%             | 2028-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | DEUTSCHE BANK COLLATERAL BALANCE FS FUNDS                                | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |      130000 | PA      | $130000.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| DEWOLF PARK CLO, LTD.                               | DEWOLF PARK CLO LTD DWOLF 2017-1A E                                      | CUSIP: 25211CAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      300000 | PA      | $299918.40     | 0.02%             | 2030-10-15      | Floating      | 10.37%                | No            |                  2 | On Loan: No      |
| People Inc                                          | DOTDASH MEREDITH INC 144A 7.625000% 06/15/2032                           | CUSIP: 25849JAA8<br>LEI: 549300R2AA7U9CJUQO13 | Long             | DBT              | CORP              | US        |     1263000 | PA      | $1137789.68    | 0.07%             | 2032-06-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| DRYDEN SENIOR LOAN FUND                             | DRYDEN 55 CLO LTD DRSLF 2018-55A E                                       | CUSIP: 26245QAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1450000 | PA      | $1414219.80    | 0.09%             | 2031-04-15      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| DRYDEN CLO LTD                                      | DRYDEN 60 CLO LTD DRSLF 2018-60A D                                       | CUSIP: 26251NAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      300000 | PA      | $299740.50     | 0.02%             | 2031-07-15      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| RADIAN GUARANTY INC AND EAGLE RE LTD                | EAGLE RE 2023-1 LTD EMIR 2023-1 M2                                       | CUSIP: 26982EAG1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1150000 | PA      | $1216777.51    | 0.07%             | 2033-09-26      | Floating      | 9.07%                 | Yes           |                  2 | On Loan: No      |
| ECHOSTAR CORPORATION                                | ECHOSTAR CORP 10.750000% 11/30/2029                                      | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |     5002000 | PA      | $5531217.55    | 0.34%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| ELLINGTON FINANCIAL MORTGAGE TRUST                  | EFMT 2025-INV1 EFMT 2025-INV1 B2                                         | CUSIP: 26846XAF7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      100000 | PA      | $99932.40      | 0.01%             | 2070-03-25      | Floating      | 7.30%                 | Yes           |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                             | EJF Financials Services                                                  | CUSIP: TSCBEJF53<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DE               |  | US        |     1077333 | NC      | $-6050374.31   | -0.37%            |  |  |  | No            |                  2 | On Loan: No      |
| ELLINGTON FINANCIAL MORTGAGE TRUST                  | ELLINGTON FINANCIAL MORTGAGE TRUST 2022-3 EFMT 2022-3 M1                 | CUSIP: 31573EAD3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      200000 | PA      | $185967.80     | 0.01%             | 2067-08-25      | Floating      | 4.98%                 | Yes           |                  2 | On Loan: No      |
| ELMWOOD CLO                                         | ELMWOOD CLO 30 LTD ELM30 2024-6A E                                       | CUSIP: 29001KAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      500000 | PA      | $496294.50     | 0.03%             | 2037-07-17      | Floating      | 9.13%                 | Yes           |                  2 | On Loan: No      |
| ELMWOOD CLO                                         | ELMWOOD CLO II LTD ELMW2 2019-2A A2RR                                    | CUSIP: 29001LAY7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    11000000 | PA      | $11021736.00   | 0.68%             | 2037-10-20      | Floating      | 5.43%                 | Yes           |                  2 | On Loan: No      |
| EMPOWER CLO LTD                                     | EMPOWER CLO 2022-1 LTD EMPWR 2022-1A ER                                  | CUSIP: 29246YAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      660000 | PA      | $646971.60     | 0.04%             | 2037-10-20      | Floating      | 9.78%                 | Yes           |                  2 | On Loan: No      |
| Enpro Inc.                                          | ENPRO INC 144A 6.125000% 06/01/2033                                      | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |     1306000 | PA      | $1347656.18    | 0.08%             | 2033-06-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| EMERGENT AUTO RECEIVABLES TRUST                     | ENT AUTO RECEIVABLES TRUST 2023-1 ENT 2023-1A D                          | CUSIP: 293601AN0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1560000 | PA      | $1635926.92    | 0.10%             | 2031-03-17      | Fixed         | 7.70%                 | Yes           |                  2 | On Loan: No      |
| EOS ENERGY ENTERPRISES, INC.                        | EOS ENERGY ENTERPRISES INC 144A 1.750000% 12/01/2031                     | CUSIP: 29415CAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      750000 | PA      | $725625.00     | 0.04%             | 2031-12-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| EOS ENERGY ENTERPRISES, INC.                        | EOS ENERGY ENTERPRISES INC COMMON STOCK                                  | CUSIP: 29415C101<br>LEI: N/A                  | Short            | EC               |  | US        |      -38663 | NS      | $-443077.98    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| EQUIFY ABS LLC                                      | EQUIFY ABS 2024-1 LLC EQFY 2024-1A A                                     | CUSIP: 29445TAA6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2581849 | PA      | $2586033.60    | 0.16%             | 2033-04-18      | Fixed         | 5.43%                 | Yes           |                  2 | On Loan: No      |
| EURIBOR 1.968% 09/07/2026                           | EURIBOR 1.968% 09/07/2026 EXPIRATION: 09/07/2026                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | XX        |  -925000000 | NC      | $-1929808.49   | -0.12%            |  |  |  | No            |                  1 | On Loan: No      |
| EURIBOR 2.068% 09/07/2026                           | EURIBOR 2.068% 09/07/2026 EXPIRATION: 09/07/2026                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | XX        | -1000000000 | NC      | $-601154.86    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| EURIBOR 2.068% 09/07/2026                           | EURIBOR 2.068% 09/07/2026 EXPIRATION: 09/07/2026                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | XX        |   925000000 | NC      | $1341891.21    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| EURIBOR SWAP RATE OPTION 7-17-28                    | EURIBOR SWAP RATE OPTION 7-17-28 LONG                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | XX        |  1000000000 | NC      | $127579.56     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| EXETER AUTOMOBILE RECEIVABLES TRUST                 | EXETER AUTOMOBILE RECEIVABLES TRUST 2025-5 EART 2025-5A E                | CUSIP: 30166VAN8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3460000 | PA      | $3470848.83    | 0.21%             | 2033-06-15      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| EXETER AUTOMOBILE RECEIVABLES TRUST                 | EXETER AUTOMOBILE RECEIVABLES TRUST EART 2025-3A E                       | CUSIP: 30166XAG9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     4590000 | PA      | $4705754.29    | 0.29%             | 2032-12-15      | Fixed         | 7.52%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE INTEREST STRIP FNS 431 C35                                    | CUSIP: 31423YP78<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    50841049 | PA      | $3192319.66    | 0.20%             | 2037-07-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE OR FREDDIE MAC 30YR TBA (JANUARY)                             | CUSIP: 01F052615<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |  1125000000 | PA      | $1140688463.00 | 70.08%            | 2056-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE OR FREDDIE MAC 30YR TBA (JANUARY)                             | CUSIP: 01F050619<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   740000000 | PA      | $738150000.00  | 45.35%            | 2056-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2012-75 DS                                         | CUSIP: 3136A6W83<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |     7785654 | PA      | $774208.51     | 0.05%             | 2042-07-25      | Floating      | 1.96%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2018-73 SC                                         | CUSIP: 3136B3EB2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    16974371 | PA      | $1942553.86    | 0.12%             | 2048-10-25      | Floating      | 2.21%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2020-41 IP                                         | CUSIP: 3136B9Z42<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    10185069 | PA      | $1862447.84    | 0.11%             | 2049-09-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2020-76 MI                                         | CUSIP: 3136BCME7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    10018083 | PA      | $2410376.71    | 0.15%             | 2050-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2021-87 GI                                         | CUSIP: 3136BKLN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    23321868 | PA      | $4401330.89    | 0.27%             | 2051-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2022-16 QI                                         | CUSIP: 3136BMMZ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    21567457 | PA      | $2232009.66    | 0.14%             | 2052-04-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2022-4 WI                                          | CUSIP: 3136BLK90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    27332864 | PA      | $2808572.06    | 0.17%             | 2052-02-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2022-40 PS                                         | CUSIP: 3136BNQM1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    16903484 | PA      | $1050248.98    | 0.06%             | 2051-12-25      | Floating      | 2.18%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2022-58 S                                          | CUSIP: 3136BN4Y9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    46636802 | PA      | $2188058.86    | 0.13%             | 2052-09-25      | Floating      | 1.43%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2022-74 SA                                         | CUSIP: 3136BPKK6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    45486335 | PA      | $1611394.37    | 0.10%             | 2052-10-25      | Floating      | 0.93%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2022-74 US                                         | CUSIP: 3136BPKM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    53006487 | PA      | $2002441.96    | 0.12%             | 2052-11-25      | Floating      | 1.13%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2022-90 CI                                         | CUSIP: 3136BPRN3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    18872924 | PA      | $3828125.46    | 0.24%             | 2050-05-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2023-11 HS                                         | CUSIP: 3136BPW72<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    92046021 | PA      | $4135462.04    | 0.25%             | 2053-04-25      | Floating      | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2023-11 SA                                         | CUSIP: 3136BPU66<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    44390921 | PA      | $2906695.31    | 0.18%             | 2053-04-25      | Floating      | 2.38%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2023-19 SB                                         | CUSIP: 3136BP2C4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    14212449 | PA      | $1168126.83    | 0.07%             | 2053-05-25      | Floating      | 2.98%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2024-11 IK                                         | CUSIP: 3136BRFU6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |     9295544 | PA      | $1640683.01    | 0.10%             | 2054-03-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2024-12 DS                                         | CUSIP: 3136BQ2G3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    31824277 | PA      | $1671051.39    | 0.10%             | 2054-03-25      | Floating      | 2.18%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2024-22 SA                                         | CUSIP: 3136BRN52<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    53571246 | PA      | $2869715.23    | 0.18%             | 2054-05-25      | Floating      | 2.23%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2024-24 SB                                         | CUSIP: 3136BRRX7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    32665394 | PA      | $2101253.73    | 0.13%             | 2053-09-25      | Floating      | 2.73%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2024-35 BS                                         | CUSIP: 3136BSBN4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    24348265 | PA      | $1080524.86    | 0.07%             | 2054-06-25      | Floating      | 1.33%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2024-68 SA                                         | CUSIP: 3136BSZC2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    44274487 | PA      | $2381830.14    | 0.15%             | 2054-09-25      | Floating      | 2.08%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2024-84 HS                                         | CUSIP: 3136BTVQ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    43967690 | PA      | $3376160.19    | 0.21%             | 2054-11-25      | Floating      | 3.23%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2024-88 SC                                         | CUSIP: 3136BT5U3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   101222829 | PA      | $3272604.93    | 0.20%             | 2054-12-25      | Floating      | 1.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2024-89 SD                                         | CUSIP: 3136BTWQ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    56910927 | PA      | $1887940.31    | 0.12%             | 2053-09-25      | Floating      | 1.23%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2024-90 SB                                         | CUSIP: 3136BTXE8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    74062390 | PA      | $3540160.05    | 0.22%             | 2053-11-25      | Floating      | 1.88%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2024-92 SB                                         | CUSIP: 3136BT3S0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    67358570 | PA      | $2970041.42    | 0.18%             | 2054-12-25      | Floating      | 1.28%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2024-97 MS                                         | CUSIP: 3136BUNH9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    27133226 | PA      | $1405672.03    | 0.09%             | 2055-01-25      | Floating      | 2.03%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association               | FANNIE MAE REMICS FNR 2025-4 SB                                          | CUSIP: 3136BUU73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   103741337 | PA      | $4399981.31    | 0.27%             | 2053-12-25      | Floating      | 1.93%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT, LLC                         | FERTITTA ENTERTAINMENT LLC / FERTITTA ENTERTAINMEN 6.750000% 01/15/2030  | CUSIP: 31556TAC3<br>LEI: 984500A0805D8V551D35 | Long             | DBT              | CORP              | US        |     1257000 | PA      | $1195124.05    | 0.07%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FIGRE TRUST                                         | FIGRE TRUST 2025-HE8 FIGRE 2025-HE8 E                                    | CUSIP: 30191WAE5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      200000 | PA      | $198209.78     | 0.01%             | 2055-11-25      | Floating      | 7.25%                 | Yes           |                  2 | On Loan: No      |
| FUNDAMENTAL INCOME NET-LEASE MORTGAGE NOTES         | FIP MASTER FUNDING LLC FI 2024-1A A1                                     | CUSIP: 30332YAC5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     7975926 | PA      | $8009994.49    | 0.49%             | 2054-10-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| FIRSTENERGY CORP.                                   | FIRSTENERGY CORP 144A 3.875000% 01/15/2031                               | CUSIP: 337932AU1<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |     7053000 | PA      | $7589028.00    | 0.47%             | 2031-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP.                                   | FIRSTENERGY CORP COMMON STOCK                                            | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Short            | EC               |  | US        |      -73800 | NS      | $-3304026.00   | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| FIVE POINT OPERATING COMPANY, LP                    | FIVE POINT OPERATING CO LP 144A 8.000000% 10/01/2030                     | CUSIP: 33834YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1728000 | PA      | $1805379.84    | 0.11%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FLAGSTAR BANK, NATIONAL ASSOCIATION                 | FLAGSTAR BANCORP INC VARIABLE RATE 11/01/2030                            | CUSIP: 337930AD3<br>LEI: SS1TRMSN6BRNMOREEV51 | Long             | DBT              | CORP              | US        |      454000 | PA      | $433575.65     | 0.03%             | 2030-11-01      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| FLATIRON CLO LTD                                    | FLATIRON CLO 23 LLC FLAT 2023-1A ER                                      | CUSIP: 33883DAY0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     2100000 | PA      | $2086406.70    | 0.13%             | 2036-04-17      | Floating      | 8.83%                 | Yes           |                  2 | On Loan: No      |
| FLEXENTIAL LLC                                      | FLEXENTIAL ISSUER 2021-1 FLX 2021-1A A2                                  | CUSIP: 33938MAA7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3119086 | PA      | $3073922.29    | 0.19%             | 2051-11-27      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| FLEXENTIAL LLC                                      | FLEXENTIAL ISSUER 2021-1 FLX 2021-1A B                                   | CUSIP: 33938MAB5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1500000 | PA      | $1478399.55    | 0.09%             | 2051-11-27      | Fixed         | 3.72%                 | Yes           |                  2 | On Loan: No      |
| FLEXENTIAL LLC                                      | FLEXENTIAL ISSUER 2021-1 FLX 2021-1A C                                   | CUSIP: 33938MAC3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     5000000 | PA      | $4962160.00    | 0.30%             | 2051-11-27      | Fixed         | 6.93%                 | Yes           |                  2 | On Loan: No      |
| FLEXENTIAL LLC                                      | FLEXENTIAL ISSUER LLC FLX 2025-1A A2                                     | CUSIP: 33938MAK5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     6500000 | PA      | $6466380.70    | 0.40%             | 2060-10-25      | Fixed         | 6.03%                 | Yes           |                  2 | On Loan: No      |
| FLEXENTIAL LLC                                      | FLEXENTIAL ISSUER LLC FLX 2025-1A C                                      | CUSIP: 33938MAL3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     5000000 | PA      | $5016178.00    | 0.31%             | 2060-10-25      | Fixed         | 8.54%                 | Yes           |                  2 | On Loan: No      |
| FONTAINEBLEAU MIAMI BEACH TRUST                     | FONTAINEBLEAU MIAMI BEACH MORTGAGE TRUST 2024-FBLU FMBT 2024-FBLU F      | CUSIP: 34461WAL4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3790000 | PA      | $3811136.83    | 0.23%             | 2039-12-15      | Floating      | 8.00%                 | Yes           |                  2 | On Loan: No      |
| FORTRESS CREDIT BSL LIMITED                         | FORTRESS CREDIT BSL III LTD FCBSL 2015-1A ER                             | CUSIP: 34960HAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $991644.00     | 0.06%             | 2031-04-18      | Floating      | 10.34%                | No            |                  2 | On Loan: No      |
| FORTRESS CREDIT BSL LIMITED                         | FORTRESS CREDIT BSL VIII LTD FCBSL 2019-2A E                             | CUSIP: 34962FAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $989929.00     | 0.06%             | 2032-10-20      | Floating      | 11.16%                | No            |                  2 | On Loan: No      |
| FORTRESS CREDIT BSL LIMITED                         | FORTRESS CREDIT BSL XVIII LTD FCBSL 2023-1A D1R                          | CUSIP: 34965DBC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |      430000 | PA      | $429217.83     | 0.03%             | 2036-04-23      | Floating      | 7.76%                 | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC MSCR TRUST MN1 MSCR 2021-MN1 B1                              | CUSIP: 35563FAC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |      210000 | PA      | $230688.84     | 0.01%             | 2051-01-25      | Floating      | 11.62%                | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC MSCR TRUST MN7 MSCR 2023-MN7 B1                              | CUSIP: 35563QAC1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |      160000 | PA      | $181992.11     | 0.01%             | 2043-09-25      | Floating      | 12.72%                | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5036 IB                                           | CUSIP: 3137F6TF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |     9922849 | PA      | $2218102.01    | 0.14%             | 2048-10-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5104 GI                                           | CUSIP: 3137H0GB8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    15173754 | PA      | $2771942.87    | 0.17%             | 2049-06-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5134 BI                                           | CUSIP: 3137H1WU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    17597857 | PA      | $3859648.28    | 0.24%             | 2051-08-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5163 NI                                           | CUSIP: 3137H47K0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |     7394894 | PA      | $1532439.48    | 0.09%             | 2051-11-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5250 SA                                           | CUSIP: 3137H8RP8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    36959262 | PA      | $2519280.08    | 0.15%             | 2052-08-25      | Floating      | 1.46%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5252 SP                                           | CUSIP: 3137H8Y70<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    27011128 | PA      | $1490112.10    | 0.09%             | 2052-09-25      | Floating      | 1.48%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5255 SA                                           | CUSIP: 3137H8VH1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    36387108 | PA      | $2163035.30    | 0.13%             | 2052-09-25      | Floating      | 1.43%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5290 TS                                           | CUSIP: 3137H9QC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    40028848 | PA      | $2934771.01    | 0.18%             | 2052-12-25      | Floating      | 2.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5296 ST                                           | CUSIP: 3137H9SM2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    39461205 | PA      | $3032195.07    | 0.19%             | 2052-11-25      | Floating      | 2.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5332 SA                                           | CUSIP: 3137HADS2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    67958068 | PA      | $4021119.66    | 0.25%             | 2053-08-25      | Floating      | 2.13%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5336 SA                                           | CUSIP: 3137HAJU1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    45353494 | PA      | $2096070.71    | 0.13%             | 2053-09-25      | Floating      | 1.93%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5339 AS                                           | CUSIP: 3137HAHA7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    35942688 | PA      | $2229201.44    | 0.14%             | 2053-09-25      | Floating      | 1.87%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5344 SA                                           | CUSIP: 3137HAN51<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    45988873 | PA      | $2109730.34    | 0.13%             | 2053-10-25      | Floating      | 1.78%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5354 SL                                           | CUSIP: 3137HATB2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    26787980 | PA      | $1755839.61    | 0.11%             | 2053-11-25      | Floating      | 2.98%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5412 MI                                           | CUSIP: 3137HCPQ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    12809510 | PA      | $1940517.75    | 0.12%             | 2049-01-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5416 SC                                           | CUSIP: 3137HD6J4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    34324852 | PA      | $3206641.38    | 0.20%             | 2054-06-25      | Floating      | 3.13%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5420 SG                                           | CUSIP: 3137HDCW8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   160614127 | PA      | $5003483.40    | 0.31%             | 2054-06-25      | Floating      | 1.33%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC REMICS FHR 5481 SA                                           | CUSIP: 3137HHRB9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    93646929 | PA      | $2490408.97    | 0.15%             | 2054-12-25      | Floating      | 1.13%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC STRIPS FHS 356 S5                                            | CUSIP: 31325WWV0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    17828187 | PA      | $1988789.51    | 0.12%             | 2047-09-15      | Floating      | 1.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC STRIPS FHS 357 IO                                            | CUSIP: 31325WXD9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    11287341 | PA      | $2442340.19    | 0.15%             | 2047-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC STRIPS FHS 406 S16                                           | CUSIP: 3142G5WQ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    30589850 | PA      | $1294433.98    | 0.08%             | 2053-10-25      | Floating      | 1.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC STRIPS FHS 406 S4                                            | CUSIP: 3142G5WY0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    45884775 | PA      | $2597225.10    | 0.16%             | 2053-10-25      | Floating      | 2.23%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC STRIPS FHS 406 S43                                           | CUSIP: 3142G5YH5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    30589850 | PA      | $2477098.76    | 0.15%             | 2053-10-25      | Floating      | 3.33%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | FREDDIE MAC STRIPS FHS 406 S44                                           | CUSIP: 3142G5YG7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    59803157 | PA      | $4530424.03    | 0.28%             | 2053-10-25      | Floating      | 3.13%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORPORATION                        | FREEDOM MORTGAGE CORP 144A 6.625000% 01/15/2027                          | CUSIP: 35640YAJ6<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |     1787000 | PA      | $1793685.49    | 0.11%             | 2027-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLDINGS LLC                       | FREEDOM MORTGAGE HOLDINGS LLC 144A 9.250000% 02/01/2029                  | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     1110000 | PA      | $1164221.27    | 0.07%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| FRONTIER ISSUER LLC                                 | FRONTIER ISSUER LLC FYBR 2023-1 C                                        | CUSIP: 35910EAC8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1000000 | PA      | $1029510.70    | 0.06%             | 2053-08-20      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Merrill Lynch                                       | FS AI Factor Long TRS                                                    | CUSIP: TFSLGLB04<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               |  | US        |      577626 | NC      | $-176002.64    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch                                       | FS AI Factor Short TRS                                                   | CUSIP: TFSSGLB04<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               |  | US        |    61832497 | NC      | $423818.53     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET BANK                                   | FX Forward Contract: USD/EUR SETTLE 2026-01-16                           | CUSIP: N/A<br>LEI: 549300ZFEEJ2IP5VME73       | N/A              | DFE              |  | US        |           1 | NC      | $-1273.63      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET BANK                                   | FX Forward Contract: USD/GBP SETTLE 2026-01-16                           | CUSIP: N/A<br>LEI: 549300ZFEEJ2IP5VME73       | N/A              | DFE              |  | US        |           1 | NC      | $-61446.47     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET BANK                                   | FX Forward Contract: USD/GBP SETTLE 2026-01-16                           | CUSIP: N/A<br>LEI: 549300ZFEEJ2IP5VME73       | N/A              | DFE              |  | US        |           1 | NC      | $-13922.16     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GAMESTOP CORP.                                      | GAMESTOP CORP 144A ZERO COUPON 04/01/2030                                | CUSIP: 36467WAD1<br>LEI: 549300505KLOET039L77 | Long             | DBT              | CORP              | US        |     5606000 | PA      | $5543212.80    | 0.34%             | 2030-04-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GAMESTOP CORP.                                      | GAMESTOP CORP-CLASS A COMMON STOCK                                       | CUSIP: 36467W109<br>LEI: 549300505KLOET039L77 | Short            | EC               |  | US        |     -124855 | NS      | $-2450964.80   | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| GENMAB A/S                                          | GENMAB A/S/GENMAB FINANCE LLC 144A 6.250000% 12/15/2032                  | CUSIP: 37230JAA0<br>LEI: 529900MTJPDPE4MHJ122 | Long             | DBT              | NUSS              | DK        |      810000 | PA      | $830125.70     | 0.05%             | 2032-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GENMAB A/S                                          | GENMAB A/S/GENMAB FINANCE LLC 144A 7.250000% 12/15/2033                  | CUSIP: 37230JAB8<br>LEI: 529900MTJPDPE4MHJ122 | Long             | DBT              | NUSS              | DK        |     1213000 | PA      | $1274149.60    | 0.08%             | 2033-12-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| GENWORTH FINANCIAL, INC.                            | GENWORTH HOLDINGS INC VARIABLE RATE 11/15/2036                           | CUSIP: 37247DAG1<br>LEI: 549300EMCG286BDNKJ33 | Long             | DBT              | CORP              | US        |     1256000 | PA      | $1051562.14    | 0.06%             | 2036-11-15      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| THE GEO GROUP, INC.                                 | GEO GROUP INC/THE 10.250000% 04/15/2031                                  | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |      899000 | PA      | $984120.12     | 0.06%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| GGAM Finance Limited                                | GGAM FINANCE LTD 144A 5.875000% 03/15/2030                               | CUSIP: 36170JAE6<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | NUSS              | IE        |     2606000 | PA      | $2644542.74    | 0.16%             | 2030-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC (FIN) COMPANY                       | GLOBAL ATLANTIC FIN CO 144A 7.250000% 03/01/2056                         | CUSIP: 37959GAH0<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |     3490000 | PA      | $3506358.71    | 0.22%             | 2056-03-01      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| GLS AUTO RECEIVABLES TRUST                          | GLS AUTO RECEIVABLES ISSUER TRUST 2025-1 GCAR 2025-1A E                  | CUSIP: 36271KAN1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     4250000 | PA      | $4327958.60    | 0.27%             | 2032-03-15      | Fixed         | 7.19%                 | Yes           |                  2 | On Loan: No      |
| GLS AUTO RECEIVABLES TRUST                          | GLS AUTO RECEIVABLES ISSUER TRUST 2025-2 GCAR 2025-2A E                  | CUSIP: 37989BAN2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1720000 | PA      | $1780850.85    | 0.11%             | 2032-06-15      | Fixed         | 7.73%                 | Yes           |                  2 | On Loan: No      |
| goeasy Ltd.                                         | GOEASY LTD 144A 6.875000% 02/15/2031                                     | CUSIP: 380355AR8<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | NUSS              | CA        |      801000 | PA      | $749246.91     | 0.05%             | 2031-02-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| goeasy Ltd.                                         | GOEASY LTD 144A 7.625000% 07/01/2029                                     | CUSIP: 380355AJ6<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | NUSS              | CA        |     1695000 | PA      | $1676049.49    | 0.10%             | 2029-07-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| goeasy Ltd.                                         | GOEASY LTD 144A 9.250000% 12/01/2028                                     | CUSIP: 380355AH0<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | NUSS              | CA        |     1000000 | PA      | $1028232.00    | 0.06%             | 2028-12-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| GOLDENTREE LOAN MANAGEMENT US CLO LTD               | GOLDENTREE LOAN MANAGEMENT US CLO 6 LTD GLM 2019-6A ER2                  | CUSIP: 38137XAL7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     3800000 | PA      | $3705003.80    | 0.23%             | 2035-04-20      | Floating      | 8.38%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | GOLDMAN SACHS COLLATERAL BALANCE FS FUNDS                                | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |     3250000 | PA      | $3250000.00    | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| GOODLEAP HOME IMPROVEMENT SOLUTIONS TRUST           | GOODLEAP HOME IMPROVEMENT SOLUTIONS TRUST 2024-1 GDLP 2024-1A C          | CUSIP: 381935AC9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      841147 | PA      | $873721.32     | 0.05%             | 2046-10-20      | Fixed         | 8.94%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2010-35 AS                  | CUSIP: 38376WL37<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     9175645 | PA      | $810171.84     | 0.05%             | 2040-03-20      | Floating      | 1.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2010-37 SG                  | CUSIP: 38376XJR5<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     7175802 | PA      | $620245.47     | 0.04%             | 2040-03-20      | Floating      | 1.85%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2011-70 WI                  | CUSIP: 38377WMN1<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    14557757 | PA      | $792281.19     | 0.05%             | 2040-12-20      | Floating      | 1.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2015-123 SE                 | CUSIP: 38379QCX1<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     8527862 | PA      | $856943.51     | 0.05%             | 2045-09-20      | Floating      | 1.87%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2016-77 SC                  | CUSIP: 38379YKE7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    11474770 | PA      | $1296312.85    | 0.08%             | 2045-10-20      | Floating      | 2.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2018-100 S                  | CUSIP: 38380XRP4<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     9131959 | PA      | $1003205.03    | 0.06%             | 2048-07-20      | Floating      | 2.35%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2018-89 LS                  | CUSIP: 38380XKS5<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    15075030 | PA      | $1538066.13    | 0.09%             | 2048-06-20      | Floating      | 2.35%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2018-91 SH                  | CUSIP: 38380XYA9<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     8742872 | PA      | $985239.44     | 0.06%             | 2048-07-20      | Floating      | 2.40%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2018-91 SJ                  | CUSIP: 38380XYB7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     9460580 | PA      | $1081929.87    | 0.07%             | 2048-07-20      | Floating      | 2.40%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2020-4 IO                   | CUSIP: 38382B3E1<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    14075090 | PA      | $2767988.99    | 0.17%             | 2050-01-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2021-139 WI                 | CUSIP: 38382XJQ9<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    11217980 | PA      | $1810240.94    | 0.11%             | 2045-11-20      | Floating      | 4.05%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2021-158 JI                 | CUSIP: 38382XZ24<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     9008110 | PA      | $2129204.56    | 0.13%             | 2050-02-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2021-215 SB                 | CUSIP: 38383DZ35<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    12956952 | PA      | $875243.43     | 0.05%             | 2051-12-20      | Floating      | 1.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2021-216 IC                 | CUSIP: 38383D4F2<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    25272778 | PA      | $3658489.88    | 0.22%             | 2051-12-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-137 JS                 | CUSIP: 38383UWK2<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    40774201 | PA      | $3146850.89    | 0.19%             | 2052-08-20      | Floating      | 2.08%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-148 SJ                 | CUSIP: 38383YAT9<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    30673566 | PA      | $2144361.43    | 0.13%             | 2052-08-20      | Floating      | 2.08%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-159 JS                 | CUSIP: 38383YML3<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    36553888 | PA      | $2019551.16    | 0.12%             | 2052-09-20      | Floating      | 1.33%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-188 IE                 | CUSIP: 38383LHF0<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    11731262 | PA      | $2145160.96    | 0.13%             | 2050-01-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-193 SA                 | CUSIP: 38383Y7L0<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    52437207 | PA      | $1371652.46    | 0.08%             | 2052-11-20      | Floating      | 0.78%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-23 WI                  | CUSIP: 38383MNG9<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     8260787 | PA      | $1896149.75    | 0.12%             | 2052-02-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-30 IG                  | CUSIP: 38383F3Y7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    22457764 | PA      | $3613535.05    | 0.22%             | 2052-02-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-5 NI                   | CUSIP: 38383FM67<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    22036018 | PA      | $3404454.67    | 0.21%             | 2052-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-21 SE                  | CUSIP: 38383VY93<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    25354674 | PA      | $806476.41     | 0.05%             | 2053-02-20      | Floating      | 1.08%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-53 SB                  | CUSIP: 38383XXY5<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    31183673 | PA      | $1312171.55    | 0.08%             | 2053-04-20      | Floating      | 1.63%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-56 SE                  | CUSIP: 38383XP40<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    27357953 | PA      | $804944.84     | 0.05%             | 2053-04-20      | Floating      | 0.98%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-82 US                  | CUSIP: 38384AN74<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    12869459 | PA      | $735477.97     | 0.05%             | 2053-06-20      | Floating      | 2.83%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-65 SV                  | CUSIP: 38384NLH6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    62687116 | PA      | $3009809.01    | 0.18%             | 2053-12-20      | Floating      | 1.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-H11 EI                 | CUSIP: 38383KB50<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |      906515 | PA      | $56276.56      | 0.00%             | 2074-06-20      | Floating      | 0.47%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-H14 AI                 | CUSIP: 38383KG22<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     2394255 | PA      | $152277.01     | 0.01%             | 2074-08-20      | Floating      | 0.56%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-H20 KI                 | CUSIP: 38383K4A7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    13941303 | PA      | $1117771.84    | 0.07%             | 2074-11-20      | Floating      | 0.57%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-H21 IB                 | CUSIP: 38383K5P3<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     3729523 | PA      | $243224.56     | 0.01%             | 2074-12-20      | Floating      | 0.56%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 AI                 | CUSIP: 38381N7U6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     4012792 | PA      | $597522.01     | 0.04%             | 2055-05-20      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 AS                 | CUSIP: 38381N3V8<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     8936339 | PA      | $620738.63     | 0.04%             | 2053-12-20      | Floating      | 2.93%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 BI                 | CUSIP: 38381N7V4<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     2251812 | PA      | $314883.91     | 0.02%             | 2055-02-20      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 BS                 | CUSIP: 38381N3Y2<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    43552885 | PA      | $2568087.14    | 0.16%             | 2055-01-20      | Floating      | 2.48%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 CI                 | CUSIP: 38381N7W2<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |      250728 | PA      | $43717.22      | 0.00%             | 2049-10-20      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 CS                 | CUSIP: 38381N4C9<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    56792997 | PA      | $3125949.02    | 0.19%             | 2053-10-20      | Floating      | 2.23%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 DS                 | CUSIP: 38381N4H8<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    22618653 | PA      | $1133438.81    | 0.07%             | 2053-11-20      | Floating      | 2.08%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 ES                 | CUSIP: 38381N4K1<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    22715731 | PA      | $965600.27     | 0.06%             | 2054-02-20      | Floating      | 1.68%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 GS                 | CUSIP: 38381N4R6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    35135926 | PA      | $1324719.28    | 0.08%             | 2054-06-20      | Floating      | 1.48%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 HS                 | CUSIP: 38381N4X3<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    21057083 | PA      | $695966.08     | 0.04%             | 2054-09-20      | Floating      | 1.28%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 IA                 | CUSIP: 38381N7B8<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    55685553 | PA      | $10451510.05   | 0.64%             | 2052-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 IB                 | CUSIP: 38381N7C6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    62889292 | PA      | $12452463.38   | 0.76%             | 2051-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 IC                 | CUSIP: 38381N7D4<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    67097388 | PA      | $14441887.50   | 0.89%             | 2050-01-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 IS                 | CUSIP: 38381N5B0<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    49685949 | PA      | $1450789.96    | 0.09%             | 2055-05-20      | Floating      | 1.08%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 LS                 | CUSIP: 38381N5Q7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    62597578 | PA      | $4318381.58    | 0.27%             | 2053-04-20      | Floating      | 2.23%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 MS                 | CUSIP: 38381N5S3<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    45720934 | PA      | $2664419.44    | 0.16%             | 2053-05-20      | Floating      | 2.23%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 NS                 | CUSIP: 38381N5V6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    77040762 | PA      | $4213721.35    | 0.26%             | 2055-03-20      | Floating      | 2.08%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 SB                 | CUSIP: 38381N6F0<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    54709617 | PA      | $2363756.38    | 0.15%             | 2053-05-20      | Floating      | 1.58%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 SC                 | CUSIP: 38381N6K9<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    25077462 | PA      | $959105.09     | 0.06%             | 2055-03-20      | Floating      | 1.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 SD                 | CUSIP: 38381N6U7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    20042136 | PA      | $2233846.36    | 0.14%             | 2049-10-20      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-24 SV                  | CUSIP: 38385CZ92<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   151884051 | PA      | $2205310.85    | 0.14%             | 2055-02-20      | Floating      | 0.24%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-26 SG                  | CUSIP: 38385CG36<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    67729443 | PA      | $1071208.87    | 0.07%             | 2055-02-20      | Floating      | 0.43%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-H19 IA                 | CUSIP: 38384LXL8<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     2229673 | PA      | $153603.64     | 0.01%             | 2075-09-20      | Floating      | 0.59%                 | No            |                  2 | On Loan: No      |
| GRAHAM PACKAGING COMPANY INC.                       | GRAHAM PACKAGING CO INC 144A 7.125000% 08/15/2028                        | CUSIP: 384701AA6<br>LEI: 549300YS0ZFT826HIK72 | Long             | DBT              | CORP              | US        |     2370000 | PA      | $2372021.61    | 0.15%             | 2028-08-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Gray Media, Inc                                     | GRAY MEDIA INC 144A 10.500000% 07/15/2029                                | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     1491000 | PA      | $1603333.43    | 0.10%             | 2029-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                             | GS Accelerated Bonus Depreciation TRS                                    | CUSIP: TFS100D00<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DE               |  | US        |      269739 | NC      | $547570.17     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                             | GS Carry + Tail Reversion TRS                                            | CUSIP: TSXAF2200<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DE               |  | US        |      115941 | NC      | $111303.36     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                             | GS Carry + Tail Reversion TRS                                            | CUSIP: N/A<br>LEI: KD3XUN7C6T14HNAYLU02       | N/A              | DE               |  | US        |      289714 | NC      | $278125.44     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                             | GS Domestic Sales TRS                                                    | CUSIP: TXUAMER00<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DE               |  | US        |    28145971 | NC      | $-141191.44    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                             | GS International Sales TRS                                               | CUSIP: N/A<br>LEI: KD3XUN7C6T14HNAYLU02       | N/A              | DE               |  | US        |      268529 | NC      | $61761.67      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GS MORTGAGE-BACKED SECURITIES TRUST                 | GS MORTGAGE-BACKED SECURITIES TRUST 2025-HE2 GSMBS 2025-HE2 B1           | CUSIP: 362934AE1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      950000 | PA      | $956459.62     | 0.06%             | 2065-12-25      | Floating      | 6.97%                 | Yes           |                  2 | On Loan: No      |
| GS MORTGAGE SECURITIES TRUST                        | GSMS TRUST 2024-FAIR GSMS 2024-FAIR D                                    | CUSIP: 36270JAG0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2750000 | PA      | $2822673.43    | 0.17%             | 2029-07-15      | Floating      | 7.95%                 | Yes           |                  2 | On Loan: No      |
| HARBOR PARK CLO LTD                                 | HARBOR PARK CLO LTD HARB 2018-1A ER2                                     | CUSIP: 41154YAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     3170000 | PA      | $3136762.55    | 0.19%             | 2031-01-20      | Floating      | 9.13%                 | Yes           |                  2 | On Loan: No      |
| HAYFIN EMERALD CLO DAC                              | HAYFIN EMERALD CLO V DAC HAYEM 5A ER                                     | CUSIP: HAFNJFSD0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |     2760000 | PA      | $3242046.40    | 0.20%             | 2037-11-17      | Floating      | 9.11%                 | Yes           |                  2 | On Loan: No      |
| HEARTLAND DENTAL, LLC                               | HEARTLAND DENTAL LLC / HEARTLAND DENTAL FINANCE CO 10.500000% 04/30/2028 | CUSIP: 42239PAB5<br>LEI: 5493008FRC0GRKBN1075 | Long             | DBT              | CORP              | US        |     1809000 | PA      | $1896794.39    | 0.12%             | 2028-04-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| HERA FINANCING DAC                                  | HERA FINANCING 2024-1 DAC HRFIN 2024-1A A                                | CUSIP: HER7UYUZ0<br>LEI: N/A                  | Long             | ABS-MBS          |  | GB        |     4821701 | PA      | $6505517.15    | 0.40%             | 2034-11-17      | Floating      | 5.84%                 | Yes           |                  2 | On Loan: No      |
| HERC HOLDINGS INC.                                  | HERC HOLDINGS INC 144A 7.000000% 06/15/2030                              | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     1606000 | PA      | $1690200.07    | 0.10%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HERTZ VEHICLE FINANCING III LLC                     | HERTZ VEHICLE FINANCING III LLC 2025-2 HERTZ 2025-2A D                   | CUSIP: 42806MDA4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1280000 | PA      | $1291361.15    | 0.08%             | 2031-09-25      | Fixed         | 8.34%                 | Yes           |                  2 | On Loan: No      |
| HERTZ VEHICLE FINANCING III LLC                     | HERTZ VEHICLE FINANCING III LLC HERTZ 2023-1A 1D                         | CUSIP: 42806MCJ6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      470000 | PA      | $473530.97     | 0.03%             | 2027-06-25      | Fixed         | 9.13%                 | Yes           |                  2 | On Loan: No      |
| HERTZ VEHICLE FINANCING III LLC                     | HERTZ VEHICLE FINANCING III LLC HERTZ 2023-2A D                          | CUSIP: 42806MBZ1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      250000 | PA      | $261438.75     | 0.02%             | 2029-09-25      | Fixed         | 9.40%                 | Yes           |                  2 | On Loan: No      |
| HERTZ VEHICLE FINANCING III LLC                     | HERTZ VEHICLE FINANCING III LLC HERTZ 2023-4A D                          | CUSIP: 42806MCH0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      290000 | PA      | $304101.74     | 0.02%             | 2030-03-25      | Fixed         | 9.44%                 | Yes           |                  2 | On Loan: No      |
| HERTZ VEHICLE FINANCING III LLC                     | HERTZ VEHICLE FINANCING III LLC HERTZ 2025-1A D                          | CUSIP: 42806MCW7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      580000 | PA      | $587631.06     | 0.04%             | 2029-09-25      | Fixed         | 7.98%                 | Yes           |                  2 | On Loan: No      |
| HERTZ VEHICLE FINANCING III LLC                     | HERTZ VEHICLE FINANCING LLC HERTZ 2022-5A D                              | CUSIP: 42806MBQ1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1370000 | PA      | $1368131.87    | 0.08%             | 2028-09-25      | Fixed         | 6.78%                 | Yes           |                  2 | On Loan: No      |
| HEWLETT PACKARD ENTERPRISE COMPANY                  | HEWLETT PACKARD ENTERPRISE COMMON STOCK                                  | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Short            | EC               |  | US        |     -103706 | NS      | $-2491018.12   | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| HIMS & HERS HEALTH, INC.                            | HIMS & HERS HEALTH INC 144A ZERO COUPON 05/15/2030                       | CUSIP: 433000AA4<br>LEI: 254900V041EIVTSB6D58 | Long             | DBT              | CORP              | US        |     1605000 | PA      | $1379497.50    | 0.08%             | 2030-05-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| HIMS & HERS HEALTH, INC.                            | HIMS & HERS HEALTH INC COMMON STOCK                                      | CUSIP: 433000106<br>LEI: 254900V041EIVTSB6D58 | Short            | EC               |  | US        |      -15985 | NS      | $-519032.95    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| HOME RE LIMITED                                     | HOME RE 2023-1 LTD HMIR 2023-1 M2                                        | CUSIP: 43731BAC5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      720000 | PA      | $771510.17     | 0.05%             | 2033-10-25      | Floating      | 9.87%                 | Yes           |                  2 | On Loan: No      |
| HOMES TRUST                                         | HOMES 2024-AFC1 TRUST HOMES 2024-AFC1 A1                                 | CUSIP: 403945AC2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3671180 | PA      | $3682824.85    | 0.23%             | 2059-08-25      | Fixed         | 5.22%                 | Yes           |                  2 | On Loan: No      |
| HOMES TRUST                                         | HOMES 2025-AFC1 TRUST HOMES 2025-AFC1 B1                                 | CUSIP: 403969AG3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1755000 | PA      | $1765847.66    | 0.11%             | 2060-01-25      | Floating      | 7.03%                 | Yes           |                  2 | On Loan: No      |
| HOMES TRUST                                         | HOMES 2025-NQM2 TRUST HOMES 2025-NQM2 B2                                 | CUSIP: 403966AF1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      230000 | PA      | $228466.77     | 0.01%             | 2070-02-25      | Floating      | 7.38%                 | Yes           |                  2 | On Loan: No      |
| HOMES TRUST                                         | HOMES 2025-NQM5 TRUST HOMES 2025-NQM5 B2                                 | CUSIP: 43762CAH4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      930000 | PA      | $924098.69     | 0.06%             | 2070-09-25      | Floating      | 7.36%                 | Yes           |                  2 | On Loan: No      |
| HOTWIRE FUNDING LLC                                 | HOTWIRE FUNDING LLC HWIRE 2024-1A C                                      | CUSIP: 44148JAM1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      140000 | PA      | $145283.49     | 0.01%             | 2054-06-20      | Fixed         | 9.19%                 | Yes           |                  2 | On Loan: No      |
| HUSKY IMS CANADIAN ESCROW CO-ISSUER LTD.            | HUSKY INJECTION MOLDING SYSTEMS LTD / TITAN CO-BOR 9.000000% 02/15/2029  | CUSIP: 44805RAA3<br>LEI: N/A                  | Long             | DBT              | NUSS              | CA        |     5748000 | PA      | $6028098.26    | 0.37%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| HEWLETT PACKARD ENTERPRISE COMPANY                  | Hewlett Packard Enterprise Co PREFERRED STOCK                            | CUSIP: 42824C208<br>LEI: 549300BX44RGX6ANDV88 | Long             | EP               |  | US        |       44154 | NS      | $2944630.26    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES L.P.                              | ICAHN ENTERPRISES LP / ICAHN ENTERPRISES FINANCE C 10.000000% 11/15/2029 | CUSIP: 451102CK1<br>LEI: 549300T0G4GS0SINS786 | Long             | DBT              | CORP              | US        |     5491000 | PA      | $5487127.31    | 0.34%             | 2029-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| ILFC E-CAPITAL TRUST I                              | ILFC E-CAPITAL TRUST I 144A VARIABLE RATE 12/21/2065                     | CUSIP: 44965TAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2730000 | PA      | $2282486.66    | 0.14%             | 2065-12-21      | Floating      | 6.35%                 | Yes           |                  2 | On Loan: No      |
| ILFC E-CAPITAL TRUST II                             | ILFC E-CAPITAL TRUST II 144A 6.600000% 12/21/2065                        | CUSIP: 44965UAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2579000 | PA      | $2216546.82    | 0.14%             | 2065-12-21      | Floating      | 6.60%                 | Yes           |                  2 | On Loan: No      |
| LUMMUS TECHNOLOGY HOLDINGS V LLC                    | ILLUMINATE BUYER LLC / ILLUMINATE HOLDINGS IV INC 9.000000% 07/01/2028   | CUSIP: 45232TAA9<br>LEI: 549300K1Y0YC1YC1H809 | Long             | DBT              | CORP              | US        |     2500000 | PA      | $2503380.00    | 0.15%             | 2028-07-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| IREN LIMITED                                        | IREN LIMITED COMMON STOCK                                                | CUSIP: Q4982L109<br>LEI: 254900FZF02RB3NNGB71 | Short            | EC               |  | AU        |       -8275 | NS      | $-312546.75    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| IREN LIMITED                                        | IREN LTD 144A ZERO COUPON 07/01/2031                                     | CUSIP: 46270CAE9<br>LEI: 254900FZF02RB3NNGB71 | Long             | DBT              | CORP              | AU        |      897000 | PA      | $664228.50     | 0.04%             | 2031-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| IRIS ESCROW ISSUER CORPORATION                      | IRIS HOLDING INC 144A 10.000000% 12/15/2028                              | CUSIP: 462914AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3659000 | PA      | $3307592.57    | 0.20%             | 2028-12-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INCORPORATED                          | IRON MOUNTAIN INC 144A 6.250000% 01/15/2033                              | CUSIP: 46284VAQ4<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |     1767000 | PA      | $1781783.96    | 0.11%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| iShares Bitcoin Trust ETF                           | ISHARES BITCOIN TRUST ETF MUTUAL FUND                                    | CUSIP: 46438F101<br>LEI: N/A                  | Long             | EC               | RF                | US        |      460979 | NS      | $22887607.35   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ISLAND FINANCE TRUST                                | ISLAND FINANCE TRUST 2025-1 ISLN 2025-1A B                               | CUSIP: 463920AB4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      300000 | PA      | $302439.63     | 0.02%             | 2035-03-19      | Fixed         | 7.95%                 | Yes           |                  2 | On Loan: No      |
| ISLAND FINANCE TRUST                                | ISLAND FINANCE TRUST 2025-1 ISLN 2025-1A C                               | CUSIP: 463920AC2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      350000 | PA      | $355278.84     | 0.02%             | 2035-03-19      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| iShares Russell 2000 ETF                            | IWM US 01/16/26 P227 LONG                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         163 | NC      | $2445.00       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Russell 2000 ETF                            | IWM US 02/20/26 P240 LONG                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         322 | NC      | $126224.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP | J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES T JPMCC 2022-NLP B      | CUSIP: 466317AG9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2376366 | PA      | $2335831.96    | 0.14%             | 2037-04-15      | Floating      | 5.11%                 | Yes           |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST                          | J.P. MORGAN MORTGAGE TRUST 2023-4 JPMMT 2023-4 B4                        | CUSIP: 46656QCC4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      250511 | PA      | $230693.22     | 0.01%             | 2053-11-25      | Floating      | 6.26%                 | Yes           |                  2 | On Loan: No      |
| JACKSON PARK TRUST                                  | JACKSON PARK TRUST 2019-LIC JAX 2019-LIC E                               | CUSIP: 46868RAN4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      420000 | PA      | $370741.18     | 0.02%             | 2039-10-14      | Floating      | 3.24%                 | No            |                  2 | On Loan: No      |
| JANE STREET GROUP, LLC                              | JANE STREET GROUP / JSG FINANCE INC 144A 6.125000% 11/01/2032            | CUSIP: 47077WAD0<br>LEI: 5493002N1IVX6KHGYO08 | Long             | DBT              | CORP              | US        |     1341000 | PA      | $1364547.96    | 0.08%             | 2032-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| JD.COM, INC.                                        | JD.COM INC 0.250000% 06/01/2029                                          | CUSIP: 47215PAJ5<br>LEI: 549300HVTWB0GJZ16V92 | Long             | DBT              | CORP              | CN        |     7260000 | PA      | $7256370.00    | 0.45%             | 2029-06-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| JD.COM, INC.                                        | JD.COM INC-ADR DEPOSITARY RECEIPT                                        | CUSIP: 47215P106<br>LEI: 549300HVTWB0GJZ16V92 | Short            | EC               |  | CN        |      -66424 | NS      | $-1906368.80   | -0.12%            |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST                          | JP MORGAN MORTGAGE TRUST SERIES 2024-VIS1 JPMMT 2024-VIS1 B2             | CUSIP: 465970AF8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      280000 | PA      | $281905.40     | 0.02%             | 2064-07-25      | Floating      | 8.06%                 | Yes           |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST                          | JP MORGAN MORTGAGE TRUST SERIES 2024-VIS2 JPMMT 2024-VIS2 B2             | CUSIP: 46658DAF6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      100000 | PA      | $100193.03     | 0.01%             | 2064-11-25      | Floating      | 7.71%                 | Yes           |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST                          | JP MORGAN MORTGAGE TRUST SERIES 2025-CCM2 JPMMT 2025-CCM2 B4             | CUSIP: 46659EBG0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      620000 | PA      | $489005.16     | 0.03%             | 2055-09-25      | Floating      | 6.57%                 | Yes           |                  2 | On Loan: No      |
| JUNIPER VALLEY PARK CLO LTD                         | JUNIPER VALLEY PARK CLO LTD JNPPK 2023-1A ERR                            | CUSIP: 48206RAG6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     2770000 | PA      | $2738798.72    | 0.17%             | 2036-07-20      | Floating      | 8.63%                 | Yes           |                  2 | On Loan: No      |
| KAPITUS ASSET SECURITIZATION LLC                    | KAPITUS ASSET SECURITIZATION V LLC KAPT 2025-1A D                        | CUSIP: 48555NAD9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      550000 | PA      | $553190.00     | 0.03%             | 2032-04-10      | Fixed         | 10.92%                | Yes           |                  2 | On Loan: No      |
| KEHE DISTRIBUTORS, LLC                              | KEHE DISTRIBUTORS LLC / KEHE FINANCE CORP / NEXTWA 9.000000% 02/15/2029  | CUSIP: 487526AC9<br>LEI: 549300WQCH7SRQ8JKE47 | Long             | DBT              | CORP              | US        |     3509000 | PA      | $3683393.44    | 0.23%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| GENERATE CLO LTD                                    | KENNEDY LEWIS CLO 6 LTD KLLM 6A AR2                                      | CUSIP: 37148JAN3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    10000000 | PA      | $10011330.00   | 0.62%             | 2037-10-22      | Floating      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| KKR FINANCIAL CLO, LTD.                             | KKR CLO 23 LTD KKR 23 E                                                  | CUSIP: 48252XAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $970892.00     | 0.06%             | 2031-10-20      | Floating      | 10.15%                | No            |                  2 | On Loan: No      |
| KOHL'S CORPORATION                                  | KOHL'S CORP 5.550000% 07/17/2045                                         | CUSIP: 500255AV6<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |      836000 | PA      | $592112.13     | 0.04%             | 2045-07-17      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| KSL COMMERCIAL MORTGAGE TRUST                       | KSL COMMERCIAL MORTGAGE TRUST 2024-HT2 KSL 2024-HT2 A                    | CUSIP: 500937AA5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     7767258 | PA      | $7764832.73    | 0.48%             | 2039-12-15      | Floating      | 5.29%                 | Yes           |                  2 | On Loan: No      |
| LADDER CAPITAL FINANCE HOLDINGS LLLP                | LADDER CAPITAL FINANCE HOLDINGS LLLP / LADDER CAPI 5.500000% 08/01/2030  | CUSIP: 505742AS5<br>LEI: 254900TBF2Z4GR7NSX02 | Long             | DBT              | CORP              | US        |     1627000 | PA      | $1664710.61    | 0.10%             | 2030-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LAQ MORTGAGE TRUST                                  | LAQ 2023-LAQ MORTGAGE TRUST LAQ 2023-LAQ F                               | CUSIP: 516681AL7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1125000 | PA      | $1074245.18    | 0.07%             | 2036-03-15      | Floating      | 10.69%                | Yes           |                  2 | On Loan: No      |
| LAQ MORTGAGE TRUST                                  | LAQ 2023-LAQ MORTGAGE TRUST LAQ 2023-LAQ G                               | CUSIP: 516681AN3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      405000 | PA      | $386508.47     | 0.02%             | 2036-03-15      | Floating      | 12.18%                | Yes           |                  2 | On Loan: No      |
| LD HOLDINGS GROUP LLC                               | LD HOLDINGS GROUP LLC 144A 6.125000% 04/01/2028                          | CUSIP: 521088AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1125000 | PA      | $1046585.86    | 0.06%             | 2028-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| LD HOLDINGS GROUP LLC                               | LD HOLDINGS GROUP LLC 144A 8.750000% 11/01/2027                          | CUSIP: 521088AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1480000 | PA      | $1454105.33    | 0.09%             | 2027-11-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LFS TOPCO LLC                                       | LFS TOPCO LLC 144A 8.750000% 07/15/2030                                  | CUSIP: 50203TAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1779000 | PA      | $1790497.66    | 0.11%             | 2030-07-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LFS TOPCO LLC                                       | LFS TOPCO LLC 144A 8.750000% 07/15/2030                                  | CUSIP: 50203TAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2436000 | PA      | $2451743.84    | 0.15%             | 2030-07-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LIGHT AND WONDER INTERNATIONAL, INC.                | LIGHT & WONDER INTERNATIONAL INC 144A 6.250000% 10/01/2033               | CUSIP: 531968AB1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |     1617000 | PA      | $1637047.31    | 0.10%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LINDBLAD EXPEDITIONS, LLC                           | LINDBLAD EXPEDITIONS LLC 144A 7.000000% 09/15/2030                       | CUSIP: 53523LAB6<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |     1778000 | PA      | $1854774.04    | 0.11%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMENT, INC.                     | LIVE NATION ENTERTAINMENT INC 144A 2.875000% 10/15/2031                  | CUSIP: 538034BD0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |       61000 | PA      | $59932.50      | 0.00%             | 2031-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| LMRE TR                                             | LMRE 2025 SFR1 TRUST LMRE 2025-SFR1 A                                    | CUSIP: 50208WAA2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     5000000 | PA      | $4893140.00    | 0.30%             | 2042-12-17      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| LONDON CARDS PLC                                    | LONDON CARDS NO 2 PLC LDN 2 E                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-MBS          |  | GB        |      200000 | PA      | $275585.48     | 0.02%             | 2034-03-28      | Floating      | 9.23%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES, INC.                            | LUMEN TECHNOLOGIES INC 144A 10.000000% 10/15/2032                        | CUSIP: 550241AK9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     2334000 | PA      | $2345670.00    | 0.14%             | 2032-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| MADISON PARK FUNDING, LTD.                          | MADISON PARK FUNDING XXVII LTD MDPK 2018-27A ER                          | CUSIP: 55820XAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      250000 | PA      | $244462.75     | 0.02%             | 2038-04-20      | Floating      | 9.38%                 | Yes           |                  2 | On Loan: No      |
| MAGNETITE CLO, LIMITED                              | MAGNETITE XXXI LTD MAGNE 2021-31A ER                                     | CUSIP: 55952GAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     3500000 | PA      | $3500000.00    | 0.22%             | 2034-07-15      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| MakeMyTrip Limited                                  | MAKEMYTRIP LTD 144A ZERO COUPON 07/01/2030                               | CUSIP: 56087FAC8<br>LEI: 529900DNT8HNJ7RYUO60 | Long             | DBT              | CORP              | IN        |     4102000 | PA      | $4015858.00    | 0.25%             | 2030-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MakeMyTrip Limited                                  | MAKEMYTRIP LTD COMMON STOCK                                              | CUSIP: V5633W109<br>LEI: 529900DNT8HNJ7RYUO60 | Short            | EC               |  | IN        |      -19244 | NS      | $-1580317.28   | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| MARA HOLDINGS, INC.                                 | MARA HOLDINGS INC COMMON STOCK                                           | CUSIP: 565788106<br>LEI: 549300M8ISKPTX2W7F94 | Short            | EC               |  | US        |      -70909 | NS      | $-636762.82    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| MARA HOLDINGS, INC.                                 | MARA HOLDINGS INC ZERO COUPON 03/01/2030                                 | CUSIP: 565788AF3<br>LEI: 549300M8ISKPTX2W7F94 | Long             | DBT              | CORP              | US        |     3675000 | PA      | $2881200.00    | 0.18%             | 2030-03-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MARINER FINANCE ISSUANCE TRUST                      | MARINER FINANCE ISSUANCE TRUST 2024-A MFIT 2024-AA D                     | CUSIP: 567928AD8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      570000 | PA      | $583912.79     | 0.04%             | 2036-09-22      | Fixed         | 6.77%                 | Yes           |                  2 | On Loan: No      |
| MARLETTE FUNDING TRUST                              | MARLETTE FUNDING TRUST 2023-2 MFT 2023-2A D                              | CUSIP: 57109LAD5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1670000 | PA      | $1702803.48    | 0.10%             | 2033-06-15      | Fixed         | 7.92%                 | Yes           |                  2 | On Loan: No      |
| MARRIOTT OWNERSHIP RESORTS, INC.                    | MARRIOTT OWNERSHIP RESORTS INC 144A 6.500000% 10/01/2033                 | CUSIP: 57164PAK2<br>LEI: BW4532OH033VURR0IT68 | Short            | DBT              | CORP              | US        |     -927000 | PA      | $-889276.29    | -0.05%            | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MAXIM CRANE WORKS HOLDINGS CAPITAL, LLC             | MAXIM CRANE WORKS HOLDINGS CAPITAL LLC 144A 11.500000% 09/01/2028        | CUSIP: 57779EAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     7157000 | PA      | $7613258.75    | 0.47%             | 2028-09-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| MEACHAM PARK CLO, LTD.                              | MEACHAM PARK CLO LTD MCHPK 2024-1A E                                     | CUSIP: 58286RAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1500000 | PA      | $1485214.50    | 0.09%             | 2037-10-20      | Floating      | 9.23%                 | Yes           |                  2 | On Loan: No      |
| METRONET INFRASTRUCTURE ISSUER LLC                  | METRONET INFRASTRUCTURE ISSUER LLC MNET 2025-2A C                        | CUSIP: 59170JBB3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1500000 | PA      | $1541542.95    | 0.09%             | 2055-08-20      | Fixed         | 7.83%                 | Yes           |                  2 | On Loan: No      |
| MF1 LTD                                             | MF1 2022-FL8 LTD MF1 2022-FL8 A                                          | CUSIP: 55284JAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     6493136 | PA      | $6493103.26    | 0.40%             | 2037-02-19      | Floating      | 5.08%                 | Yes           |                  2 | On Loan: No      |
| MF1 LTD                                             | MF1 2022-FL8 LTD MF1 2022-FL8 E                                          | CUSIP: 55284JAL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2810000 | PA      | $2774138.78    | 0.17%             | 2037-02-19      | Floating      | 6.88%                 | Yes           |                  2 | On Loan: No      |
| MFA TRUST                                           | MFA 2024-NQM2 TRUST MFRA 2024-NQM2 A1                                    | CUSIP: 58004JAA0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3189892 | PA      | $3194720.19    | 0.20%             | 2069-08-25      | Fixed         | 5.27%                 | Yes           |                  2 | On Loan: No      |
| MIDCAP FINANCIAL ISSUER TRUST                       | MIDCAP FINANCIAL ISSUER TRUST 144A 6.500000% 05/01/2028                  | CUSIP: 59567LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3572000 | PA      | $3565746.86    | 0.22%             | 2028-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MITER BRANDS ACQUISITION HOLDCO, INC.               | MITER BRANDS ACQUISITION HOLDCO INC / MIWD BORROWE 6.750000% 04/01/2032  | CUSIP: 60672JAA7<br>LEI: N/A                  | Short            | DBT              | CORP              | US        |    -1585000 | PA      | $-1624926.97   | -0.10%            | 2032-04-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MOHEGAN ESCROW ISSUER, LLC                          | MOHEGAN TRIBAL GAMING AUTHORITY / MS DIGITAL ENTER 11.875000% 04/15/2031 | CUSIP: 60832QAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      889000 | PA      | $939400.08     | 0.06%             | 2031-04-15      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| MOHEGAN ESCROW ISSUER, LLC                          | MOHEGAN TRIBAL GAMING AUTHORITY / MS DIGITAL ENTER 8.250000% 04/15/2030  | CUSIP: 60832QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1831000 | PA      | $1908638.06    | 0.12%             | 2030-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST  | MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST MSBAM 2013-C9 E       | CUSIP: 61762DAJ0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1030000 | PA      | $933156.10     | 0.06%             | 2046-05-15      | Floating      | 3.79%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST  | MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST MSBAM 2015-C24 E      | CUSIP: 61765LAE0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      170000 | PA      | $164600.80     | 0.01%             | 2048-05-15      | Floating      | 3.94%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY CAPITAL I TRUST                      | MORGAN STANLEY CAPITAL I TRUST 2024-BPR2 MSC 2024-BPR2 X                 | CUSIP: 61776EAC7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     2241436 | PA      | $59055.12      | 0.00%             | 2029-05-05      | Floating      | 0.86%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | MORGAN STANLEY COLLATERAL BALANCE FS FUNDS                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |    35200000 | PA      | $35200000.00   | 2.16%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | MORGAN STANLEY COLLATERAL BALANCE FS FUNDS                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |     1460000 | PA      | $1460000.00    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST      | MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST 202 MSRM 2024-4 B4        | CUSIP: 61777BBL1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      100000 | PA      | $92274.40      | 0.01%             | 2054-09-25      | Floating      | 6.97%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST      | MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST 202 MSRM 2024-INV2 B5     | CUSIP: 617939BR3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |       98213 | PA      | $95759.61      | 0.01%             | 2054-02-25      | Floating      | 7.46%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST      | MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST 202 MSRM 2024-NQM3 B1B    | CUSIP: 61776UAJ6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      150000 | PA      | $150075.32     | 0.01%             | 2069-07-25      | Floating      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                            | MS Long REIT Basket TRS                                                  | CUSIP: TSFSREL04<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |      261588 | NC      | $-160065.70    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MUVICO, LLC                                         | MUVICO LLC 144A 15.000000% 02/19/2029                                    | CUSIP: 62844JAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2548515 | PA      | $2764382.96    | 0.17%             | 2029-02-19      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| THE NASSAU COMPANIES OF NEW YORK                    | NASSAU COS OF NEW YORK/THE 144A 7.875000% 07/15/2030                     | CUSIP: 63155AAA6<br>LEI: 549300Q3ENSFI87YLC32 | Long             | DBT              | CORP              | US        |     3345000 | PA      | $3192825.25    | 0.20%             | 2030-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NATIONAL MENTOR HOLDINGS, INC.                      | NATIONAL MENTOR HOLDINGS INC 144A 10.500000% 12/15/2030                  | CUSIP: 63688RAF4<br>LEI: 5493004QULJVJP3CNZ62 | Long             | DBT              | CORP              | US        |     1869000 | PA      | $1878902.37    | 0.12%             | 2030-12-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST        | NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST 2022- NCMS 2022-RRI E       | CUSIP: 63875JAN8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1125000 | PA      | $1116739.80    | 0.07%             | 2035-03-15      | Floating      | 8.94%                 | Yes           |                  2 | On Loan: No      |
| NCL CORPORATION LTD.                                | NCL CORP LTD 144A 0.750000% 09/15/2030                                   | CUSIP: 62886HBW0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | US        |     6962000 | PA      | $6714152.80    | 0.41%             | 2030-09-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC.                               | NEPTUNE BIDCO US INC 144A 10.375000% 05/15/2031                          | CUSIP: 640695AC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |      176000 | PA      | $180460.02     | 0.01%             | 2031-05-15      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| NEUBERGER BERMAN LOAN ADVISERS LLC                  | NEUBERGER BERMAN LOAN ADVISERS CLO 29 LTD NEUB 2018-29A A2R              | CUSIP: 64130XAU0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    11700000 | PA      | $11703533.40   | 0.72%             | 2039-01-19      | Floating      | 5.40%                 | Yes           |                  2 | On Loan: No      |
| NEUBERGER BERMAN LOAN ADVISERS LLC                  | NEUBERGER BERMAN LOAN ADVISERS CLO 38 LTD NEUB 2020-38A ER2              | CUSIP: 64133TAN2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     1795000 | PA      | $1770178.74    | 0.11%             | 2036-10-20      | Floating      | 8.48%                 | Yes           |                  2 | On Loan: No      |
| NEUBERGER BERMAN LOAN ADVISERS LLC                  | NEUBERGER BERMAN LOAN ADVISERS CLO 46 LTD NEUB 2021-46A ER               | CUSIP: 64134RAL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      250000 | PA      | $247125.50     | 0.02%             | 2037-01-20      | Floating      | 9.03%                 | Yes           |                  2 | On Loan: No      |
| NEUBERGER BERMAN LOAN ADVISERS LLC                  | NEUBERGER BERMAN LOAN ADVISERS CLO 47 LTD NEUB 2022-47A ER               | CUSIP: 64134TAL5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      150000 | PA      | $147983.55     | 0.01%             | 2035-04-16      | Floating      | 10.15%                | Yes           |                  2 | On Loan: No      |
| NEW ENTERPRISE STONE & LIME CO., INC.               | NEW ENTERPRISE STONE & LIME CO INC 144A 9.750000% 07/15/2028             | CUSIP: 644274AG7<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |     3952000 | PA      | $3981640.04    | 0.24%             | 2028-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| THE NEW HOME COMPANY INC.                           | NEW HOME CO INC/THE 144A 8.500000% 11/01/2030                            | CUSIP: 645370AG2<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |     1288000 | PA      | $1326450.66    | 0.08%             | 2030-11-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| THE NEW HOME COMPANY INC.                           | NEW HOME CO INC/THE 144A 9.250000% 10/01/2029                            | CUSIP: 645370AF4<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |     1388000 | PA      | $1448607.98    | 0.09%             | 2029-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST                 | NEW RESIDENTIAL MORTGAGE LOAN TRUST 2024-NQM3 NRZT 2024-NQM3 B2          | CUSIP: 647910AH1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      460000 | PA      | $452852.29     | 0.03%             | 2064-11-25      | Floating      | 7.15%                 | Yes           |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST                 | NEW RESIDENTIAL MORTGAGE LOAN TRUST 2025-NQM2 NRZT 2025-NQM2 B1          | CUSIP: 64831XAG3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      590000 | PA      | $596282.91     | 0.04%             | 2065-04-25      | Floating      | 7.26%                 | Yes           |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST                 | NEW RESIDENTIAL MORTGAGE LOAN TRUST 2025-NQM2 NRZT 2025-NQM2 B2          | CUSIP: 64831XAH1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      100000 | PA      | $100134.30     | 0.01%             | 2065-04-25      | Floating      | 7.26%                 | Yes           |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST                 | NEW RESIDENTIAL MORTGAGE LOAN TRUST 2025-NQM5 NRZT 2025-NQM5 B2          | CUSIP: 64832GAH7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2300000 | PA      | $2270604.16    | 0.14%             | 2065-08-25      | Floating      | 7.41%                 | Yes           |                  2 | On Loan: No      |
| NEWDAY FUNDING PLC                                  | NEWDAY FUNDING MASTER ISSUER PLC - SERIES 2024-3 NDFT 2024-3A E          | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-MBS          |  | GB        |      780000 | PA      | $1068030.25    | 0.07%             | 2032-11-15      | Floating      | 7.59%                 | Yes           |                  2 | On Loan: No      |
| NEXTERA ENERGY, INC.                                | NEXTERA ENERGY INC COMMON STOCK                                          | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Short            | EC               |  | US        |      -11951 | NS      | $-959426.28    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | NOMURA COLLATERAL BALANCE FS FUNDS                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |      710000 | PA      | $710000.00     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| NORTHERN OIL AND GAS, INC.                          | NORTHERN OIL & GAS INC 3.625000% 04/15/2029                              | CUSIP: 665531AJ8<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |     1722000 | PA      | $1659147.00    | 0.10%             | 2029-04-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL AND GAS, INC.                          | NORTHERN OIL AND GAS INC COMMON STOCK                                    | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Short            | EC               |  | US        |      -24591 | NS      | $-527968.77    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| NORTHWOODS CAPITAL LIMITED                          | NORTHWOODS CAPITAL XII-B LTD WOODS 2018-12BA BR                          | CUSIP: 66858CAQ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    10500000 | PA      | $10513555.50   | 0.65%             | 2031-06-15      | Floating      | 5.42%                 | Yes           |                  2 | On Loan: No      |
| NORWEGIAN CRUISE LINE HOLDINGS LTD.                 | NORWEGIAN CRUISE LINE HOLDIN COMMON STOCK                                | CUSIP: G66721104<br>LEI: N/A                  | Short            | EC               |  | US        |     -117580 | NS      | $-2624385.60   | -0.16%            |  |  |  | No            |                  1 | On Loan: No      |
| NOVANTA INC.                                        | NOVANTA INC COMMON STOCK                                                 | CUSIP: 67000B104<br>LEI: N/A                  | Short            | EC               |  | US        |       -5383 | NS      | $-640523.17    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| NYMT LOAN TRUST                                     | NYMT LOAN TRUST 2025-INV1 NYMT 2025-INV1 B1                              | CUSIP: 67120YAG4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      220000 | PA      | $220470.84     | 0.01%             | 2060-04-25      | Floating      | 6.99%                 | Yes           |                  2 | On Loan: No      |
| NYMT LOAN TRUST                                     | NYMT LOAN TRUST 2025-INV2 NYMT 2025-INV2 B1                              | CUSIP: 62957JAJ0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2000000 | PA      | $2011056.00    | 0.12%             | 2060-10-25      | Floating      | 6.99%                 | Yes           |                  2 | On Loan: No      |
| NEXTERA ENERGY, INC.                                | NextEra Energy Inc PREFERRED STOCK                                       | CUSIP: 65339F663<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               |  | US        |       27003 | NS      | $1397945.31    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| NOMURA GLOBAL FINANCIAL PRODUCTS                    | Nomura G10 FX Mean Reversion 25x TRS                                     | CUSIP: N/A<br>LEI: 0Z3VO5H2G7GRS05BHJ91       | N/A              | DE               |  | US        |      308305 | NC      | $234311.69     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| NOMURA GLOBAL FINANCIAL PRODUCTS                    | Nomura Interest Rate Volatility Risk Premium USD 3M10Y Index TRS         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         452 | NC      | $1719.86       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NOVANTA INC.                                        | Novanta Inc PREFERRED STOCK                                              | CUSIP: 67000B203<br>LEI: N/A                  | Long             | EP               |  | US        |       15380 | NS      | $845592.40     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| OAKTREE CLO LTD                                     | OAKTREE CLO 2019-4 LTD OAKCL 2019-4A ERR                                 | CUSIP: 67400JAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      250000 | PA      | $248011.75     | 0.02%             | 2037-07-20      | Floating      | 10.47%                | Yes           |                  2 | On Loan: No      |
| OBX TRUST                                           | OBX 2021-INV2 TRUST OBX 2021-INV2 AIO1                                   | CUSIP: 67114KBB2<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     3584304 | PA      | $37179.98      | 0.00%             | 2051-10-25      | Floating      | 0.21%                 | Yes           |                  2 | On Loan: No      |
| OCP CLO LTD                                         | OCP CLO 2024-31 LTD OCP 2024-31A E                                       | CUSIP: 67570BAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     1440000 | PA      | $1446435.36    | 0.09%             | 2037-04-20      | Floating      | 10.78%                | Yes           |                  2 | On Loan: No      |
| OCTAGON INVESTMENT PARTNERS, LTD.                   | OCTAGON INVESTMENT PARTNERS 29 LTD OCT29 2016-1A ER2                     | CUSIP: 67591KAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1500000 | PA      | $1453165.50    | 0.09%             | 2039-07-18      | Floating      | 11.05%                | Yes           |                  2 | On Loan: No      |
| OCTAGON INVESTMENT PARTNERS, LTD.                   | OCTAGON INVESTMENT PARTNERS 48 LTD OCT48 2020-3A ER2                     | CUSIP: 67577QAG9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $990359.00     | 0.06%             | 2039-01-15      | Floating      | 10.65%                | Yes           |                  2 | On Loan: No      |
| ODDITY FINANCE LLC                                  | ODDITY FINANCE LLC 144A ZERO COUPON 06/15/2030                           | CUSIP: 67579RAA8<br>LEI: 254900FTSJH2TRDJ3905 | Long             | DBT              | CORP              | US        |     1750000 | PA      | $1507187.50    | 0.09%             | 2030-06-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ODDITY TECH LTD                                     | ODDITY TECH LTD-CL A COMMON STOCK                                        | CUSIP: M7518J104<br>LEI: 254900QH12XZS53G0V57 | Short            | EC               |  | IL        |      -11789 | NS      | $-473682.02    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| ODEON FINCO PLC                                     | ODEON FINCO PLC 144A 12.750000% 11/01/2027                               | CUSIP: 67585LAA3<br>LEI: 9845003ECF9901CC5382 | Long             | DBT              | NUSS              | GB        |     7496000 | PA      | $7728855.74    | 0.47%             | 2027-11-01      | Fixed         | 12.75%                | No            |                  2 | On Loan: No      |
| OHA CREDIT PARTNERS LTD                             | OHA CREDIT PARTNERS VII LTD OAKC 2012-7A D2R4                            | CUSIP: 67102QBV9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2000000 | PA      | $1976896.00    | 0.12%             | 2038-02-20      | Floating      | 7.39%                 | Yes           |                  2 | On Loan: No      |
| OHA CREDIT PARTNERS LTD                             | OHA CREDIT PARTNERS VII LTD OAKC 2012-7A ER4                             | CUSIP: 67102UAK5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2000000 | PA      | $1980830.00    | 0.12%             | 2038-02-20      | Floating      | 8.39%                 | Yes           |                  2 | On Loan: No      |
| OLYMPIC TOWER MORTGAGE TRUST                        | OLYMPIC TOWER 2017-OT MORTGAGE TRUST OT 2017-OT C                        | CUSIP: 68162MAJ1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1390000 | PA      | $1295414.53    | 0.08%             | 2039-05-10      | Floating      | 3.95%                 | No            |                  2 | On Loan: No      |
| OLYMPIC TOWER MORTGAGE TRUST                        | OLYMPIC TOWER 2017-OT MORTGAGE TRUST OT 2017-OT D                        | CUSIP: 68162MAL6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      150000 | PA      | $136739.82     | 0.01%             | 2039-05-10      | Floating      | 3.95%                 | No            |                  2 | On Loan: No      |
| ONDECK ASSET SECURITIZATION TRUST LLC               | ONDECK ASSET SECURITIZATION IV LLC ONDK 2025-1A D                        | CUSIP: 68237DAD5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      100000 | PA      | $100546.24     | 0.01%             | 2032-04-19      | Fixed         | 8.77%                 | Yes           |                  2 | On Loan: No      |
| ONDECK ASSET SECURITIZATION TRUST LLC               | ONDECK ASSET SECURITIZATION TRUST IV LLC ONDK 2024-2A C                  | CUSIP: 67108SAF5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1300000 | PA      | $1315074.15    | 0.08%             | 2031-10-17      | Fixed         | 7.03%                 | Yes           |                  2 | On Loan: No      |
| ONDECK ASSET SECURITIZATION TRUST LLC               | ONDECK ASSET SECURITIZATION TRUST IV LLC ONDK 2024-2A D                  | CUSIP: 67108SAG3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      140000 | PA      | $141080.97     | 0.01%             | 2031-10-17      | Fixed         | 9.49%                 | Yes           |                  2 | On Loan: No      |
| PG&E CORPORATION                                    | P G & E CORP COMMON STOCK                                                | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Short            | EC               |  | US        |      -64108 | NS      | $-1030215.56   | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| PAGAYA AI DEBT GRANTOR TRUST                        | PAGAYA AI DEBT GRANTOR TRUST 2025-3 PAID 2025-3 D                        | CUSIP: 69544TAE4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      199960 | PA      | $202785.48     | 0.01%             | 2032-12-15      | Fixed         | 6.99%                 | Yes           |                  2 | On Loan: No      |
| PARK RIVER HOLDINGS, INC.                           | PARK RIVER HOLDINGS INC 144A 8.000000% 03/15/2031                        | CUSIP: 70082LAC1<br>LEI: 254900PGY077KWCROT75 | Long             | DBT              | CORP              | US        |     5749000 | PA      | $5927190.26    | 0.36%             | 2031-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PARK-OHIO INDUSTRIES, INC.                          | PARK-OHIO INDUSTRIES INC 144A 8.500000% 08/01/2030                       | CUSIP: 700677AS6<br>LEI: 5493006LQUO5SLMNYM18 | Short            | DBT              | CORP              | US        |    -1771000 | PA      | $-1818498.22   | -0.11%            | 2030-08-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| PEAC SOLUTIONS RECEIVABLES                          | PEAC SOLUTIONS RECEIVABLES 2024-2 LLC PEAC 2024-2A A3                    | CUSIP: 69392BAC0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     5000000 | PA      | $5029401.00    | 0.31%             | 2031-10-20      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| PENNYMAC CORP.                                      | PENNYMAC CORP 8.500000% 06/01/2029                                       | CUSIP: 70932AAH6<br>LEI: EWN0I878407TKQNXZ933 | Long             | DBT              | CORP              | US        |     3060000 | PA      | $3237480.00    | 0.20%             | 2029-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| PG&E CORPORATION                                    | PG&E CORP 4.250000% 12/01/2027                                           | CUSIP: 69331CAL2<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |     5388000 | PA      | $5536708.80    | 0.34%             | 2027-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PLANET FINANCIAL GROUP, LLC                         | PLANET FINANCIAL GROUP LLC 144A 10.500000% 12/15/2029                    | CUSIP: 72702AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1003000 | PA      | $1050571.29    | 0.06%             | 2029-12-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| PRA GROUP, INC.                                     | PRA GROUP INC 144A 5.000000% 10/01/2029                                  | CUSIP: 69354NAD8<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |     1900000 | PA      | $1786732.26    | 0.11%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRA GROUP, INC.                                     | PRA GROUP INC 144A 5.000000% 10/01/2029                                  | CUSIP: 69354NAD8<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |     1443000 | PA      | $1356976.13    | 0.08%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRA GROUP, INC.                                     | PRA GROUP INC 144A 8.375000% 02/01/2028                                  | CUSIP: 69354NAE6<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |     1975000 | PA      | $2017928.60    | 0.12%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| PRA GROUP, INC.                                     | PRA GROUP INC 144A 8.875000% 01/31/2030                                  | CUSIP: 69354NAF3<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |      400000 | PA      | $414984.00     | 0.03%             | 2030-01-31      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| PROGRESS RESIDENTIAL MASTER TRUST                   | PROGRESS RESIDENTIAL 2024-SFR2 TRUST PROG 2024-SFR2 F                    | CUSIP: 74290XAN1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      690000 | PA      | $638534.35     | 0.04%             | 2041-04-17      | Floating      | 3.65%                 | Yes           |                  2 | On Loan: No      |
| PROVIDENT FUNDING ASSOCIATES, L.P.                  | PROVIDENT FUNDING ASSOCIATES LP / PFG FINANCE CORP 9.750000% 09/15/2029  | CUSIP: 74387UAK7<br>LEI: 54930043BMDE130FJ617 | Long             | DBT              | CORP              | US        |     1258000 | PA      | $1326842.79    | 0.08%             | 2029-09-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| PRPM LLC                                            | PRPM 2024-RCF3 LLC PRPM 2024-RCF3 M2                                     | CUSIP: 74390BAJ7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      310000 | PA      | $293616.16     | 0.02%             | 2054-05-25      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| PRPM LLC                                            | PRPM 2025-NQM1 TRUST PRPM 2025-NQM1 B1                                   | CUSIP: 74391EAF8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1000000 | PA      | $1019484.50    | 0.06%             | 2069-11-25      | Floating      | 7.78%                 | Yes           |                  2 | On Loan: No      |
| PRPM LLC                                            | PRPM 2025-NQM3 TRUST PRPM 2025-NQM3 B1                                   | CUSIP: 69382NAE2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      650000 | PA      | $652580.96     | 0.04%             | 2070-05-25      | Floating      | 6.94%                 | Yes           |                  2 | On Loan: No      |
| PRPM LLC                                            | PRPM 2025-RCF6 LLC PRPM 2025-RCF6 M2                                     | CUSIP: 69393BAF2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      150000 | PA      | $143272.80     | 0.01%             | 2055-12-25      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| PURCHASING POWER FUNDING LLC                        | PURCHASING POWER FUNDING 2024-A LLC PPWR 2024-A D                        | CUSIP: 745935AD8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      450000 | PA      | $450460.98     | 0.03%             | 2028-08-15      | Fixed         | 7.26%                 | Yes           |                  2 | On Loan: No      |
| PENNYMAC MORTGAGE INVESTMENT TRUST                  | PennyMac Mortgage Investment Trust PREFERRED STOCK                       | CUSIP: 70931T707<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               |  | US        |       42524 | NS      | $1093292.04    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch                                       | Private Credit BDCs TRS                                                  | CUSIP: TFSCRED00<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               |  | US        |      300589 | NC      | $-53534.90     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                            | QSP Convexity TRS                                                        | CUSIP: TSQSPB120<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |      654991 | NC      | $-261996.40    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS, INC.                             | QUIKRETE HOLDINGS INC 144A 6.375000% 03/01/2032                          | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |     1092000 | PA      | $1136640.96    | 0.07%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS, INC.                             | QUIKRETE HOLDINGS INC 144A 6.750000% 03/01/2033                          | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |     1282000 | PA      | $1338781.28    | 0.08%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RADIOLOGY PARTNERS, INC.                            | RADIOLOGY PARTNERS INC 144A 8.500000% 07/15/2032                         | CUSIP: 75041VAE4<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |     1773000 | PA      | $1852142.29    | 0.11%             | 2032-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| RADNOR RE/ESSENT                                    | RADNOR RE 2021-1 LTD RMIR 2021-1 M2                                      | CUSIP: 75279YAD3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      973059 | PA      | $979916.20     | 0.06%             | 2033-12-27      | Floating      | 7.02%                 | Yes           |                  2 | On Loan: No      |
| RADNOR RE/ESSENT                                    | RADNOR RE 2021-2 LTD RMIR 2021-2 M2                                      | CUSIP: 75049GAC3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     6000000 | PA      | $6252666.00    | 0.38%             | 2031-11-25      | Floating      | 8.87%                 | Yes           |                  2 | On Loan: No      |
| RADNOR RE/ESSENT                                    | RADNOR RE 2022-1 LTD RMIR 2022-1 M2                                      | CUSIP: 75049XAC6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     6500000 | PA      | $7250245.60    | 0.45%             | 2032-09-25      | Floating      | 12.37%                | Yes           |                  2 | On Loan: No      |
| RATE MORTGAGE TRUST                                 | RATE MORTGAGE TRUST 2021-J3 RATE 2021-J3 AX1                             | CUSIP: 75409TBN4<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     1918449 | PA      | $19406.45      | 0.00%             | 2051-10-25      | Floating      | 0.21%                 | Yes           |                  2 | On Loan: No      |
| RATE MORTGAGE TRUST                                 | RATE MORTGAGE TRUST 2024-J4 RATE 2024-J4 B4                              | CUSIP: 75408TCL8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1191000 | PA      | $959488.66     | 0.06%             | 2054-12-25      | Floating      | 6.28%                 | Yes           |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDINGS, LLC                     | RAVEN ACQUISITION HOLDINGS LLC 144A 6.875000% 11/15/2031                 | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1191000 | PA      | $1227136.13    | 0.08%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| RCKT MORTGAGE TRUST                                 | RCKT MORTGAGE TRUST 2024-CES7 RCKT 2024-CES7 A1A                         | CUSIP: 749414AA6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3403763 | PA      | $3414512.64    | 0.21%             | 2044-10-25      | Fixed         | 5.16%                 | Yes           |                  2 | On Loan: No      |
| REACH ABS TRUST                                     | REACH ABS TRUST 2025-1 REACH 2025-1A D                                   | CUSIP: 75525PAD4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      260000 | PA      | $266694.84     | 0.02%             | 2032-08-16      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| REACH ABS TRUST                                     | REACH ABS TRUST 2025-2 REACH 2025-2A D                                   | CUSIP: 75525QAD2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1530000 | PA      | $1548495.10    | 0.10%             | 2032-08-18      | Fixed         | 7.31%                 | No            |                  2 | On Loan: No      |
| REDWOOD TRUST, INC.                                 | REDWOOD TRUST INC 7.750000% 06/15/2027                                   | CUSIP: 758075AF2<br>LEI: DRBV4N1ERQLEMIF11G78 | Long             | DBT              | CORP              | US        |     4116000 | PA      | $4095420.00    | 0.25%             | 2027-06-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| REGIONAL MANAGEMENT ISSUANCE TRUST                  | REGIONAL MANAGEMENT ISSUANCE TRUST 2024-1 RMIT 2024-1 D                  | CUSIP: 758983AD2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2500000 | PA      | $2575133.00    | 0.16%             | 2036-07-15      | Fixed         | 7.46%                 | Yes           |                  2 | On Loan: No      |
| RENEW FINANCIAL GROUP LLC                           | RENEW 2024-2 RENEW 2024-2A A                                             | CUSIP: 75975DAA2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     8038764 | PA      | $7641518.22    | 0.47%             | 2060-11-20      | Fixed         | 5.33%                 | Yes           |                  2 | On Loan: No      |
| REXFORD INDUSTRIAL REALTY, INC                      | REXFORD INDUSTRIAL REALTY IN REIT                                        | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Short            | EC               |  | US        |      -11687 | NS      | $-452520.64    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| REXFORD INDUSTRIAL REALTY, L.P.                     | REXFORD INDUSTRIAL REALTY LP 144A 4.125000% 03/15/2029                   | CUSIP: 76169XAE4<br>LEI: 549300028US163ELJN70 | Long             | DBT              | CORP              | US        |     2971000 | PA      | $2961195.70    | 0.18%             | 2029-03-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| RFNA, LP                                            | RFNA LP 144A 7.875000% 02/15/2030                                        | CUSIP: 74984AAA0<br>LEI: 2549002A4GSOTYKKHR45 | Long             | DBT              | CORP              | US        |      742000 | PA      | $754649.92     | 0.05%             | 2030-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| RITHM CAPITAL CORP.                                 | RITHM CAPITAL CORP 144A 8.000000% 04/01/2029                             | CUSIP: 64828TAB8<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |     2698000 | PA      | $2770039.11    | 0.17%             | 2029-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| RITHM CAPITAL CORP.                                 | RITHM CAPITAL CORP 144A 8.000000% 07/15/2030                             | CUSIP: 64828TAC6<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |     4040000 | PA      | $4131559.05    | 0.25%             | 2030-07-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| RIVIAN AUTOMOTIVE, INC.                             | RIVIAN AUTOMOTIVE INC 3.625000% 10/15/2030                               | CUSIP: 76954AAD5<br>LEI: 25490004LNKJ84MFYY24 | Long             | DBT              | CORP              | US        |     1668000 | PA      | $1868160.00    | 0.11%             | 2030-10-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| RIVIAN AUTOMOTIVE, INC.                             | RIVIAN AUTOMOTIVE INC-A COMMON STOCK                                     | CUSIP: 76954A103<br>LEI: 25490004LNKJ84MFYY24 | Short            | EC               |  | US        |      -56758 | NS      | $-1118700.18   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| RMF PROPRIETARY ISSUANCE TRUST                      | RMF PROPRIETARY ISSUANCE TRUST 2021-2 RPIT 2021-2 A                      | CUSIP: 74969VAA3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |       77647 | PA      | $73718.31      | 0.00%             | 2061-09-25      | Floating      | 2.13%                 | Yes           |                  2 | On Loan: No      |
| ROCKET SOFTWARE, INC.                               | ROCKET SOFTWARE INC 144A 9.000000% 11/28/2028                            | CUSIP: 77314EAB4<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |     8889000 | PA      | $9165953.33    | 0.56%             | 2028-11-28      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| R. R. DONNELLEY & SONS COMPANY                      | RR DONNELLEY & SONS CO 144A 9.500000% 08/01/2029                         | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |     3582000 | PA      | $3691251.00    | 0.23%             | 2029-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | S&P 500 ANNL DIV  DEC27 PHYSICAL INDEX FUTURE.                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        2876 | NC      | $58526600.00   | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                             | S&P 500 ex Mag 7 TRS                                                     | CUSIP: TRSX70000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DE               |  | US        |    29493752 | NC      | $63748.94      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                             | S&P Regional Banks Index                                                 | CUSIP: N/A<br>LEI: KD3XUN7C6T14HNAYLU02       | N/A              | DE               |  | US        |   134503955 | NC      | $-4922767.56   | -0.30%            |  |  |  | No            |                  2 | On Loan: No      |
| SABLE INTERNATIONAL FINANCE LIMITED                 | SABLE INTERNATIONAL FINANCE LTD 144A 7.125000% 10/15/2032                | CUSIP: 785712AK6<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | NUSS              | PA        |      901000 | PA      | $911737.22     | 0.06%             | 2032-10-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| SAIF SECURITIZATION TRUST                           | SAIF SECURITIZATION TRUST 2025-CES1 SAIF 2025-CES1 B1                    | CUSIP: 78438CAE1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1000000 | PA      | $1002571.30    | 0.06%             | 2065-06-25      | Floating      | 7.23%                 | Yes           |                  2 | On Loan: No      |
| SCG TRUST                                           | SCG 2024-MSP MORTGAGE TRUST SCG 2024-MSP E                               | CUSIP: 78436EAJ8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3320000 | PA      | $3328591.16    | 0.20%             | 2041-04-15      | Floating      | 8.69%                 | Yes           |                  2 | On Loan: No      |
| THE E.W. SCRIPPS COMPANY                            | SCRIPPS ESCROW II INC 144A 3.875000% 01/15/2029                          | CUSIP: 81105DAA3<br>LEI: 549300U1OW41QPKYW028 | Long             | DBT              | CORP              | US        |      961000 | PA      | $884253.39     | 0.05%             | 2029-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SCULPTOR CLO LTD                                    | SCULPTOR CLO XXVII LTD SCUL 27A ER                                       | CUSIP: 81124VAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      340000 | PA      | $331752.28     | 0.02%             | 2034-07-20      | Floating      | 10.13%                | Yes           |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST                              | SEQUOIA MORTGAGE TRUST 2024-9 SEMT 2024-9 B4                             | CUSIP: 81749PCL2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      363675 | PA      | $329982.26     | 0.02%             | 2054-10-25      | Floating      | 6.52%                 | Yes           |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                            | SERVICE PROPERTIES TRUST 144A ZERO COUPON 09/30/2027                     | CUSIP: 81761LAF9<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |     5191000 | PA      | $4690879.33    | 0.29%             | 2027-09-30      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                            | SERVICE PROPERTIES TRUST 3.950000% 01/15/2028                            | CUSIP: 44106MAX0<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |     3820000 | PA      | $3606025.76    | 0.22%             | 2028-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                            | SERVICE PROPERTIES TRUST 8.375000% 06/15/2029                            | CUSIP: 81761LAD4<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |     2045000 | PA      | $2056032.78    | 0.13%             | 2029-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| SG RESIDENTIAL MORTGAGE TRUST                       | SG RESIDENTIAL MORTGAGE TRUST 2025-1 SGR 2025-1 B1                       | CUSIP: 81880NAK0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1660000 | PA      | $1635174.70    | 0.10%             | 2065-12-25      | Floating      | 6.73%                 | Yes           |                  2 | On Loan: No      |
| SOCIETE GENERALE                                    | SG V-Step TRS                                                            | CUSIP: TMDSBVH00<br>LEI: O2RNE8IBXP4R0TD8PU41 | N/A              | DE               |  | US        |       56314 | NC      | $184259.41     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                    | SG V-Step TRS                                                            | CUSIP: TMDSBVH01<br>LEI: O2RNE8IBXP4R0TD8PU41 | N/A              | DE               |  | US        |       19425 | NC      | $63558.60      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS, INC                                | SHIFT4 PAYMENTS INC-CLASS A COMMON STOCK                                 | CUSIP: 82452J109<br>LEI: N/A                  | Short            | EC               |  | US        |      -72392 | NS      | $-4558524.24   | -0.28%            |  |  |  | No            |                  1 | On Loan: No      |
| SIX FLAGS ENTERTAINMENT CORPORATION                 | SIX FLAGS ENTERTAINMENT CORP / CANADA'S WONDERLAND 6.500000% 10/01/2028  | CUSIP: 150190AK2<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |     1619000 | PA      | $1586754.86    | 0.10%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SIXTH STREET LENDING PARTNERS                       | SIXTH STREET LENDING PARTNERS 5.750000% 01/15/2030                       | CUSIP: 829932AD4<br>LEI: 549300S9P1HMDERGCR64 | Long             | DBT              | CORP              | US        |     1601000 | PA      | $1622374.23    | 0.10%             | 2030-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | SOC GEN COLLATERAL BALANCE FS FUNDS                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |     2036667 | PA      | $2036666.62    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| THE SOUTHERN COMPANY                                | SOUTHERN CO/THE 144A 3.250000% 06/15/2028                                | CUSIP: 842587EC7<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |     7062000 | PA      | $7047876.00    | 0.43%             | 2028-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| THE SOUTHERN COMPANY                                | SOUTHERN CO/THE COMMON STOCK                                             | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Short            | EC               |  | US        |      -12440 | NS      | $-1084768.00   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| SPECIALTY BUILDING PRODUCTS HOLDINGS, LLC           | SPECIALTY BUILDING PRODUCTS HOLDINGS LLC / SBP FIN 7.750000% 10/15/2029  | CUSIP: 84749AAC1<br>LEI: 549300ICFD46O3KMJC06 | Short            | DBT              | CORP              | US        |    -1631000 | PA      | $-1591334.08   | -0.10%            | 2029-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SPX FLOW, INC.                                      | SPX FLOW INC 144A 8.750000% 04/01/2030                                   | CUSIP: 758071AA2<br>LEI: 5493003YXEKRBINIEM78 | Long             | DBT              | CORP              | US        |     6876000 | PA      | $7093673.53    | 0.44%             | 2030-04-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| STAR TRUST                                          | STAR 2024-SFR4 TRUST STAR 2024-SFR4 A                                    | CUSIP: 85520AAA7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     9977929 | PA      | $10015220.03   | 0.62%             | 2041-10-17      | Floating      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| STAR LEASING COMPANY, LLC                           | STAR LEASING CO LLC 144A 7.625000% 02/15/2030                            | CUSIP: 854938AA5<br>LEI: 549300WXKNX4PT3HSN71 | Long             | DBT              | CORP              | US        |      971000 | PA      | $903247.33     | 0.06%             | 2030-02-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST, INC.                       | STARWOOD PROPERTY TRUST INC 144A 6.000000% 04/15/2030                    | CUSIP: 85571BBC8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |     1922000 | PA      | $1972744.64    | 0.12%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST, INC.                       | STARWOOD PROPERTY TRUST INC 144A 7.250000% 04/01/2029                    | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |      754000 | PA      | $796300.91     | 0.05%             | 2029-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                           | SUNOCO LP / SUNOCO FINANCE CORP 6.000000% 04/15/2027                     | CUSIP: 86765LAQ0<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     1726000 | PA      | $1728381.88    | 0.11%             | 2027-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SUPER MICRO COMPUTER, INC.                          | SUPER MICRO COMPUTER INC 3.500000% 03/01/2029                            | CUSIP: 86800UAB0<br>LEI: 54930022CZO1N2UGVW07 | Long             | DBT              | CORP              | US        |     3675000 | PA      | $3265972.50    | 0.20%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SUPER MICRO COMPUTER, INC.                          | SUPER MICRO COMPUTER INC COMMON STOCK                                    | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Short            | EC               |  | US        |      -27747 | NS      | $-812154.69    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| SURGERY CENTER HOLDINGS, INC.                       | SURGERY CENTER HOLDINGS INC 144A 7.250000% 04/15/2032                    | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |     1354000 | PA      | $1369528.08    | 0.08%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SWCH COMMERCIAL MORTGAGE TRUST                      | SWCH COMMERCIAL MORTGAGE TRUST 2025-DATA SWCH 2025-DATA D                | CUSIP: 78489CAD1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     4150000 | PA      | $4108500.00    | 0.25%             | 2042-02-15      | Floating      | 6.39%                 | Yes           |                  2 | On Loan: No      |
| SWCH COMMERCIAL MORTGAGE TRUST                      | SWCH COMMERCIAL MORTGAGE TRUST 2025-DATA SWCH 2025-DATA E                | CUSIP: 78489CAE9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     5240000 | PA      | $5203441.04    | 0.32%             | 2042-02-15      | Floating      | 7.09%                 | Yes           |                  2 | On Loan: No      |
| SWITCH ABS ISSUER LLC                               | SWITCH ABS ISSUER LLC SWTCH 2024-2A C                                    | CUSIP: 871044AJ2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     4500000 | PA      | $4620759.75    | 0.28%             | 2054-06-25      | Fixed         | 10.03%                | Yes           |                  2 | On Loan: No      |
| SWITCH ABS ISSUER LLC                               | SWITCH ABS ISSUER LLC SWTCH 2025-2A B                                    | CUSIP: 871044AY9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2500000 | PA      | $2501829.00    | 0.15%             | 2055-10-25      | Fixed         | 6.24%                 | Yes           |                  2 | On Loan: No      |
| SX5E DIVIDEND FUT DEC26                             | SX5E DIVIDEND FUT DEC26 PHYSICAL INDEX FUTURE.                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |       -3000 | NC      | $-57960795.37  | -3.56%            |  |  |  | No            |                  1 | On Loan: No      |
| SYMPHONY CLO, LTD.                                  | SYMPHONY CLO XX LTD SYMP 2018-20A E                                      | CUSIP: 87166XAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      250000 | PA      | $243276.00     | 0.01%             | 2032-01-16      | Floating      | 10.45%                | No            |                  2 | On Loan: No      |
| SYNERGY INFRASTRUCTURE HOLDINGS, LLC                | SYNERGY INFRASTRUCTURE HOLDINGS LLC 144A 7.875000% 12/01/2030            | CUSIP: 87191JAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1895000 | PA      | $1964589.71    | 0.12%             | 2030-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS, INC                                | Shift4 Payments Inc PREFERRED STOCK                                      | CUSIP: 82452J307<br>LEI: N/A                  | Long             | EP               |  | US        |       78746 | NS      | $6300467.46    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| THPT MORTGAGE TRUST                                 | THPT 2023-THL MORTGAGE TRUST THPT 2023-THL E                             | CUSIP: 87252LAL9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1500000 | PA      | $1510821.75    | 0.09%             | 2034-12-10      | Floating      | 10.40%                | Yes           |                  2 | On Loan: No      |
| TIAA CLO LTD                                        | TIAA CLO I LTD TIA 2016-1A DR                                            | CUSIP: 87271LAQ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      500000 | PA      | $502359.50     | 0.03%             | 2031-07-20      | Floating      | 7.65%                 | No            |                  2 | On Loan: No      |
| TICP CLO LTD                                        | TICP CLO VII LTD TICP 2017-7A ER                                         | CUSIP: 87248UAD4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1830000 | PA      | $1817338.23    | 0.11%             | 2033-04-15      | Floating      | 11.22%                | No            |                  2 | On Loan: No      |
| TKC HOLDINGS, INC.                                  | TKC HOLDINGS INC 144A 6.875000% 05/15/2028                               | CUSIP: 87256YAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1046000 | PA      | $1056197.45    | 0.06%             | 2028-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TMS INTERNATIONAL CORP.                             | TMS INTERNATIONAL CORP/DE 144A 6.250000% 04/15/2029                      | CUSIP: 87261QAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      945000 | PA      | $913230.84     | 0.06%             | 2029-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TOWD POINT ASSET TRUST                              | TOWD POINT ASSET TRUST 2021-SL1 TPAT 2021-SL1 D                          | CUSIP: 89179XAD7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3130000 | PA      | $3081135.38    | 0.19%             | 2061-11-20      | Floating      | 5.55%                 | Yes           |                  2 | On Loan: No      |
| TPG RE FINANCE TRUST, INC.                          | TPG RE Finance Trust Inc PREFERRED STOCK                                 | CUSIP: 87266M206<br>LEI: N/A                  | Long             | EP               |  | US        |       12403 | NS      | $223254.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                            | TREASURY BILL 0.000000% 01/22/2026                                       | CUSIP: 912797PD3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    20000000 | PA      | $19960518.60   | 1.23%             | 2026-01-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States of America                            | TREASURY BILL 0.000000% 03/19/2026                                       | CUSIP: 912797PV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    10000000 | PA      | $9925548.80    | 0.61%             | 2026-03-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TRIMAS CORPORATION                                  | TRIMAS CORP 144A 4.125000% 04/15/2029                                    | CUSIP: 896215AH3<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | DBT              | CORP              | US        |     1300000 | PA      | $1264229.07    | 0.08%             | 2029-04-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| TRIP.COM GROUP LIMITED                              | TRIP.COM GROUP LTD 0.750000% 06/15/2029                                  | CUSIP: 89677QAB3<br>LEI: 2549004RMYDSRQL4KW41 | Long             | DBT              | CORP              | CN        |     6798000 | PA      | $8358141.00    | 0.51%             | 2029-06-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| TRIP.COM GROUP LIMITED                              | TRIP.COM GROUP LTD-ADR DEPOSITARY RECEIPT                                | CUSIP: 89677Q107<br>LEI: 2549004RMYDSRQL4KW41 | Short            | EC               |  | CN        |      -75030 | NS      | $-5395407.30   | -0.33%            |  |  |  | No            |                  1 | On Loan: No      |
| Trivium Packaging Finance B.V.                      | TRIVIUM PACKAGING FINANCE BV 144A 12.250000% 01/15/2031                  | CUSIP: 89686QAC0<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | NUSS              | NL        |     2458000 | PA      | $2667019.20    | 0.16%             | 2031-01-15      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| Trivium Packaging Finance B.V.                      | TRIVIUM PACKAGING FINANCE BV 144A 8.250000% 07/15/2030                   | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | NUSS              | NL        |     1376000 | PA      | $1475052.74    | 0.09%             | 2030-07-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | TRS on MARKIT IBOXX HY JUN26 TRS                                         | CUSIP: TRS620595<br>LEI: 984500653R409CC5AB28 | N/A              | DE               |  | US        |    19949999 | NC      | $-106562.08    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | TRS on MARKIT IBOXX HY MAR26 TRS                                         | CUSIP: TRS620593<br>LEI: 984500653R409CC5AB28 | N/A              | DE               |  | US        |    21656001 | NC      | $-344441.91    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | TRS on MARKIT IBOXX IG MAR26 TRS                                         | CUSIP: TRS620596<br>LEI: 984500653R409CC5AB28 | N/A              | DE               |  | US        |     7999999 | NC      | $-21211.09     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS Group AG                                        | UBS Value & Fundamental Growth TRS                                       | CUSIP: TCSGGV300<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DE               |  | US        |       49790 | NC      | $-474299.54    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITI FIBER ABS ISSUER LLC                          | UNITI FIBER ABS ISSUER LLC UNIT 2025-1A C                                | CUSIP: 91326EAC9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3000000 | PA      | $3167606.40    | 0.19%             | 2055-04-20      | Fixed         | 9.02%                 | Yes           |                  2 | On Loan: No      |
| UPGRADE RECEIVABLES TRUST                           | UPGRADE AUTO RECEIVABLES TRUST 2025-1 UPGA 2025-1A E                     | CUSIP: 91531AAH7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      210000 | PA      | $208575.02     | 0.01%             | 2033-11-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| UPGRADE RECEIVABLES TRUST                           | UPGRADE RECEIVABLES TRUST 2024-1 UPGR 2024-1A D                          | CUSIP: 91533NAD6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1500000 | PA      | $1543981.05    | 0.09%             | 2031-02-18      | Fixed         | 8.90%                 | Yes           |                  2 | On Loan: No      |
| UPGRADE RECEIVABLES TRUST                           | UPGRADE RECEIVABLES TRUST 2024-1 UPGR 2024-1A E                          | CUSIP: 91533NAE4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3040000 | PA      | $3114065.95    | 0.19%             | 2031-02-18      | Fixed         | 11.53%                | Yes           |                  2 | On Loan: No      |
| Upstart Holdings Inc                                | UPSTART HOLDINGS INC 144A ZERO COUPON 02/15/2032                         | CUSIP: 91680MAG2<br>LEI: 549300WNB47JRNENIC75 | Long             | DBT              | CORP              | US        |     4564000 | PA      | $3768038.40    | 0.23%             | 2032-02-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Upstart Holdings Inc                                | UPSTART HOLDINGS INC COMMON STOCK                                        | CUSIP: 91680M107<br>LEI: 549300WNB47JRNENIC75 | Short            | EC               |  | US        |      -42294 | NS      | $-1849516.62   | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| UPSTART SECURITIZATION TRUST                        | UPSTART SECURITIZATION TRUST 2023-2 UPST 2023-2 C                        | CUSIP: 91683VAC8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1134000 | PA      | $1199216.34    | 0.07%             | 2033-06-20      | Fixed         | 11.87%                | Yes           |                  2 | On Loan: No      |
| UPSTART SECURITIZATION TRUST                        | UPSTART SECURITIZATION TRUST 2025-2 UPST 2025-2 D                        | CUSIP: 91679EAE8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2580000 | PA      | $2626821.07    | 0.16%             | 2035-06-20      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| UPSTART SECURITIZATION TRUST                        | UPSTART SECURITIZATION TRUST 2025-3 UPST 2025-3 D                        | CUSIP: 91684FAE8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1000000 | PA      | $991206.30     | 0.06%             | 2035-09-20      | Fixed         | 7.41%                 | Yes           |                  2 | On Loan: No      |
| UPSTART SECURITIZATION TRUST                        | UPSTART SECURITIZATION TRUST 2025-4 UPST 2025-4 D                        | CUSIP: 91684AAE9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1515000 | PA      | $1513158.52    | 0.09%             | 2035-11-20      | Fixed         | 7.67%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | US 10YR FUT OPTN  Feb26C   113 LONG                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         900 | NC      | $210937.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| US 10YR FUT OPTN  Feb26C 112.5                      | US 10YR FUT OPTN  Feb26C 112.5 LONG                                      | CUSIP: 01XM5T9H1<br>LEI: N/A                  | N/A              | DIR              |  | US        |        1690 | NC      | $712968.75     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| US 10YR FUT OPTN  Feb26P 112.5                      | US 10YR FUT OPTN  Feb26P 112.5 LONG                                      | CUSIP: 01XM5TMY3<br>LEI: N/A                  | N/A              | DIR              |  | US        |        1690 | NC      | $818593.75     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | US 10YR NOTE (CBT)MAR26 FINANCIAL COMMODITY FUTURE.                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -4832 | NC      | $-543298000.00 | -33.38%           |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                            | US 5YR NOTE (CBT) MAR26 FINANCIAL COMMODITY FUTURE.                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         214 | NC      | $23391203.13   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. ACUTE CARE SOLUTIONS, LLC                      | US ACUTE CARE SOLUTIONS LLC 144A 9.750000% 05/15/2029                    | CUSIP: 90367UAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2550000 | PA      | $2568907.82    | 0.16%             | 2029-05-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| U S BANK NATIONAL ASSOCIATION                       | US BANK NA USCLN 2023-1 D                                                | CUSIP: 90357PAX2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      159671 | PA      | $162851.32     | 0.01%             | 2032-08-25      | Fixed         | 13.60%                | Yes           |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | US IPPs & Rate Exposed Utilities TRS                                     | CUSIP: N/A<br>LEI: 213800IQAOC5HG62T347       | N/A              | DE               |  | US        |    18730702 | NC      | $1326877.36    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                            | US TREASURY N/B 4.625000% 06/15/2027                                     | CUSIP: 91282CKV2<br>LEI: 254900HROIFWPRGM1V77 | Short            | SN               | UST               | US        |   -24000000 | PA      | $-24383437.44  | -1.50%            | 2027-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                     | US TREASURY N/B 4.625000% 06/15/2027                                     | CUSIP: 91282CKV2<br>LEI: N/A                  | Long             | SN               | UST               | US        |     5000000 | PA      | $5079882.80    | 0.31%             | 2027-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States of America                            | US ULTRA BOND CBT MAR26 FINANCIAL COMMODITY FUTURE.                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         -47 | NC      | $-5546000.00   | -0.34%            |  |  |  | No            |                  1 | On Loan: No      |
| USD-SOFR 2.9325% 09/08/2026                         | USD-SOFR 2.9325% 09/08/2026 EXPIRATION: 09/08/2026                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |   500000000 | NC      | $272378.54     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| USD-SOFR 2.9325% 09/08/2026                         | USD-SOFR 2.9325% 09/08/2026 EXPIRATION: 09/08/2026                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |   500000000 | NC      | $1102052.86    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| USD-SOFR 3.3325% 09/08/2026                         | USD-SOFR 3.3325% 09/08/2026 EXPIRATION: 09/08/2026                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |  -500000000 | NC      | $-811048.90    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| USD-SOFR 4.22% 09/26/2030                           | USD-SOFR 4.22% 09/26/2030 EXPIRATION: 09/26/2030                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    11800000 | NC      | $647641.02     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| USD-SOFR 4.22% 09/26/2030                           | USD-SOFR 4.22% 09/26/2030 EXPIRATION: 09/26/2030                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    81000000 | NC      | $-361359.24    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| USD-SOFR 4.22% 09/26/2030                           | USD-SOFR 4.22% 09/26/2030 EXPIRATION: 09/26/2030                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |   -11800000 | NC      | $-482862.30    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| USD-SOFR 4.27 01/16/2035                            | USD-SOFR 4.27 01/16/2035 EXPIRATION: 01/16/2035                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |   -60000000 | NC      | $-3920366.51   | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| USD-SOFR 4.27 01/16/2035                            | USD-SOFR 4.27 01/16/2035 EXPIRATION: 01/16/2035                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    60000000 | NC      | $2363599.74    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| USD-SOFR 4.40 01/16/2035                            | USD-SOFR 4.40 01/16/2035 EXPIRATION: 01/16/2035                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |   300000000 | NC      | $10665194.45   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| USD-SOFR 4.48% 09/26/2035                           | USD-SOFR 4.48% 09/26/2035 EXPIRATION: 09/26/2035                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    20400000 | NC      | $541440.53     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| USD-SOFR 4.48% 09/26/2035                           | USD-SOFR 4.48% 09/26/2035 EXPIRATION: 09/26/2035                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |  -128000000 | NC      | $338374.40     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| USD-SOFR 4.48% 09/26/2035                           | USD-SOFR 4.48% 09/26/2035 EXPIRATION: 09/26/2035                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |   -20400000 | NC      | $-703637.41    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| USD-SOFR 6.40 01/16/2035                            | USD-SOFR 6.40 01/16/2035 EXPIRATION: 01/16/2035                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |  -350000000 | NC      | $-9210837.75   | -0.57%            |  |  |  | No            |                  1 | On Loan: No      |
| VERDANT RECEIVABLES LLC                             | VERDANT RECEIVABLES 2024-1 LLC VERD 2024-1A D                            | CUSIP: 92339MAE0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      570000 | PA      | $594622.63     | 0.04%             | 2031-12-12      | Fixed         | 7.23%                 | Yes           |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST                          | VERUS SECURITIZATION TRUST 2023-5 VERUS 2023-5 B2                        | CUSIP: 924934AF9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3431000 | PA      | $3441181.15    | 0.21%             | 2068-06-25      | Floating      | 7.97%                 | Yes           |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST                          | VERUS SECURITIZATION TRUST 2023-6 VERUS 2023-6 B2                        | CUSIP: 92539XAF1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1080000 | PA      | $1085426.78    | 0.07%             | 2068-09-25      | Floating      | 7.77%                 | Yes           |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST                          | VERUS SECURITIZATION TRUST 2024-3 VERUS 2024-3 B2                        | CUSIP: 92540MAF2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      120000 | PA      | $121149.37     | 0.01%             | 2069-04-25      | Floating      | 8.40%                 | Yes           |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST                          | VERUS SECURITIZATION TRUST 2024-5 VERUS 2024-5 B2                        | CUSIP: 92540HAF3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      400000 | PA      | $403477.44     | 0.02%             | 2069-06-25      | Floating      | 7.78%                 | Yes           |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST                          | VERUS SECURITIZATION TRUST 2024-6 VERUS 2024-6 B2                        | CUSIP: 92540JAF9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      200000 | PA      | $202179.76     | 0.01%             | 2069-07-25      | Floating      | 7.91%                 | Yes           |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST                          | VERUS SECURITIZATION TRUST 2024-9 VERUS 2024-9 B2                        | CUSIP: 92540RAH7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      150000 | PA      | $150283.67     | 0.01%             | 2069-11-25      | Floating      | 7.35%                 | Yes           |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST                          | VERUS SECURITIZATION TRUST 2025-1 VERUS 2025-1 B2                        | CUSIP: 92540TAF7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      570000 | PA      | $572276.35     | 0.04%             | 2070-01-25      | Floating      | 7.36%                 | Yes           |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST                          | VERUS SECURITIZATION TRUST 2025-INV1 VERUS 2025-INV1 B2                  | CUSIP: 924929AH5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      230000 | PA      | $228958.26     | 0.01%             | 2070-02-25      | Floating      | 7.31%                 | Yes           |                  2 | On Loan: No      |
| VIKING BAKED GOODS ACQUISITION CORPORATION          | VIKING BAKED GOODS ACQUISITION CORP 144A 8.625000% 11/01/2031            | CUSIP: 92676AAA5<br>LEI: 254900DBFD2H1FJK0893 | Long             | DBT              | CORP              | US        |     1148000 | PA      | $1151687.38    | 0.07%             | 2031-11-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| VINE TRUST                                          | VINE 2023-SFR1 TRUST VINEB 2023-SFR1 A                                   | CUSIP: 91825KAA5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     7037815 | PA      | $7006594.17    | 0.43%             | 2040-12-17      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| VISTA POINT SECURITIZATION TRUST                    | VISTA POINT SECURITIZATION TRUST 2024-CES3 VSTA 2024-CES3 A1             | CUSIP: 92841WAA7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     4012254 | PA      | $4032439.09    | 0.25%             | 2055-01-25      | Fixed         | 5.68%                 | Yes           |                  2 | On Loan: No      |
| VISTA POINT SECURITIZATION TRUST                    | VISTA POINT SECURITIZATION TRUST 2024-CES3 VSTA 2024-CES3 B1             | CUSIP: 92841WAE9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1644000 | PA      | $1670073.35    | 0.10%             | 2055-01-25      | Floating      | 7.83%                 | Yes           |                  2 | On Loan: No      |
| VISTA POINT SECURITIZATION TRUST                    | VISTA POINT SECURITIZATION TRUST SERIES 2024-CES2 VSTA 2024-CES2 A1      | CUSIP: 92841YAA3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2124851 | PA      | $2124095.39    | 0.13%             | 2054-10-25      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| VT TOPCO, INC.                                      | VT TOPCO INC 144A 8.500000% 08/15/2030                                   | CUSIP: 91838PAA9<br>LEI: 5493007T812R37X02Y38 | Long             | DBT              | CORP              | US        |      891000 | PA      | $930784.93     | 0.06%             | 2030-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| WAYFAIR INC.                                        | WAYFAIR INC 3.500000% 11/15/2028                                         | CUSIP: 94419LAR2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1651000 | PA      | $3778313.50    | 0.23%             | 2028-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WAYFAIR INC.                                        | WAYFAIR INC- CLASS A COMMON STOCK                                        | CUSIP: 94419L101<br>LEI: N/A                  | Short            | EC               |  | US        |      -33287 | NS      | $-3342347.67   | -0.21%            |  |  |  | No            |                  1 | On Loan: No      |
| WEST COMMERCIAL MORTGAGE TRUST                      | WCORE COMMERCIAL MORTGAGE TRUST 2024-CORE WCORE 2024-CORE E              | CUSIP: 951913AJ1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     1000000 | PA      | $1002851.00    | 0.06%             | 2041-11-15      | Floating      | 7.69%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST               | WELLS FARGO COMMERCIAL MORTGAGE TRUST 2025-AGLN WFCM 2025-AGLN E         | CUSIP: 94990HAJ6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3070000 | PA      | $3052148.56    | 0.19%             | 2037-07-15      | Floating      | 7.94%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST               | WELLS FARGO COMMERCIAL MORTGAGE TRUST 2025-AURA WFCM 2025-AURA A         | CUSIP: 95004VAA5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     5000000 | PA      | $5006223.50    | 0.31%             | 2042-10-15      | Floating      | 5.34%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST               | WELLS FARGO COMMERCIAL MORTGAGE TRUST 2025-AURA WFCM 2025-AURA E         | CUSIP: 95004VAJ6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3400000 | PA      | $3388880.30    | 0.21%             | 2042-10-15      | Floating      | 8.69%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST               | WELLS FARGO COMMERCIAL MORTGAGE TRUST 2025-B33RP WFCM 2025-B33RP E       | CUSIP: 95004RAJ5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     3630000 | PA      | $3622702.25    | 0.22%             | 2042-08-15      | Floating      | 7.25%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST               | WELLS FARGO COMMERCIAL MORTGAGE TRUST 2025-DWHP WFCM 2025-DWHP A         | CUSIP: 95004EAA3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    10000000 | PA      | $10049159.00   | 0.62%             | 2038-04-15      | Floating      | 6.09%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST               | WELLS FARGO COMMERCIAL MORTGAGE TRUST 2025-DWHP WFCM 2025-DWHP E         | CUSIP: 95004EAJ4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     2320000 | PA      | $2337568.20    | 0.14%             | 2038-04-15      | Floating      | 10.19%                | Yes           |                  2 | On Loan: No      |
| WELLS FARGO MORTGAGE BACKED SECURITIES TRUST        | WELLS FARGO MORTGAGE BACKED SECURITIES 2021-RR1 TR WFMBS 2021-RR1 AIO1   | CUSIP: 95003JAW5<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |     3556990 | PA      | $105237.10     | 0.01%             | 2050-12-25      | Floating      | 0.48%                 | Yes           |                  2 | On Loan: No      |
| WESTGATE RESORTS LLC                                | WESTGATE RESORTS 2023-1 LLC WESTR 2023-1A D                              | CUSIP: 96033EAD0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |      214022 | PA      | $219512.28     | 0.01%             | 2037-12-20      | Fixed         | 10.14%                | Yes           |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 10YR PAY FIXED 3.586000                                           | CUSIP: SL517PGU0<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |      569000 | NC      | $9967.30       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 12YR PAY FIXED 3.687000                                           | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DIR              |  | US        |     3622000 | NC      | $78278.65      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 15MTH PAY FIXED 3.39600                                           | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DIR              |  | US        |    19000000 | NC      | $-2000.92      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 15YR PAY FIXED 3.801000                                           | CUSIP: SL5143801<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |      140000 | NC      | $3929.94       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 20YR PAY FIXED 3.901000                                           | CUSIP: SL5143901<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |      262000 | NC      | $9662.31       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 25YR PAY FIXED 3.907000                                           | CUSIP: SL5143907<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |      767000 | NC      | $34308.54      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 2YR PAY FIXED 3.281000                                            | CUSIP: SL514X1G1<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |    11516000 | NC      | $22168.88      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 2YR PAY FIXED 3.281000                                            | CUSIP: SL517X1G1<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |     9500000 | NC      | $18287.98      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 3YR PAY FIXED 3.251000                                            | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DIR              |  | US        |     4851000 | NC      | $16891.19      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 3YR PAY FIXED 3.251000                                            | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DIR              |  | US        |    16255000 | NC      | $56599.93      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 4YR PAY FIXED 3.272000                                            | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DIR              |  | US        |    20456000 | NC      | $109224.35     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 4YR PAY FIXED 3.272000                                            | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DIR              |  | US        |    15318000 | NC      | $81790.12      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 51MTH PAY FIXED3.311902                                           | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DIR              |  | US        |    23000000 | NC      | $88881.28      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 5YR PAY FIXED 3.312000                                            | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DIR              |  | US        |    22182000 | NC      | $165971.79     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 5YR PAY FIXED 3.312000                                            | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DIR              |  | US        |     4765000 | NC      | $35653.03      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK N.A.                           | WF-IRS 6YR PAY FIXED 3.365000                                            | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DIR              |  | US        |     2450000 | NC      | $23166.68      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                            | WI TREASURY SEC. 0.000000% 02/19/2026                                    | CUSIP: 912797PM3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    22500000 | PA      | $22393097.33   | 1.38%             | 2026-02-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States of America                            | WI TREASURY SEC. 0.000000% 02/19/2026                                    | CUSIP: 912797PM3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     2500000 | PA      | $2488121.93    | 0.15%             | 2026-02-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| W. R. GRACE HOLDINGS LLC                            | WR GRACE HOLDINGS LLC 144A 6.625000% 08/15/2032                          | CUSIP: 92943GAF8<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     1275000 | PA      | $1291281.32    | 0.08%             | 2032-08-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| WESTERN ALLIANCE BANCORPORATION                     | Western Alliance Bancorp PREFERRED STOCK                                 | CUSIP: 957638406<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EP               |  | US        |       19200 | NS      | $435456.00     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| ZSCALER, INC.                                       | ZSCALER INC 144A ZERO COUPON 07/15/2028                                  | CUSIP: 98980GAC6<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | DBT              | CORP              | US        |     7061000 | PA      | $6605565.50    | 0.41%             | 2028-07-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ZSCALER, INC.                                       | ZSCALER INC COMMON STOCK                                                 | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Short            | EC               |  | US        |       -5944 | NS      | $-1336924.48   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-31

**Name of Applicant:** THE ADVISORS' INNER CIRCLE III

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

**Title:** Treasurer, Controller and Chief Financial Officer