# EDGAR Filing Document

**Accession Number:** 0000088525
**File Stem:** 0000913181-25-000361
**Filing Date:** 2025-12
**Character Count:** 194042
**Document Hash:** 74bf79beb8796c39350aa13d28590f7b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000913181-25-000361.hdr.sgml**: 20251201

**ACCESSION NUMBER**: 0000913181-25-000361

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251201

**DATE AS OF CHANGE**: 20251201

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GUGGENHEIM FUNDS TRUST
- **CENTRAL INDEX KEY:** 0000088525

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01136
- **FILM NUMBER:** 251538230

**BUSINESS ADDRESS:**
- **STREET 1:** 702 KING FARM BOULEVARD
- **STREET 2:** SUITE 200
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850
- **BUSINESS PHONE:** 301-296-5100

**MAIL ADDRESS:**
- **STREET 1:** 702 KING FARM BOULEVARD
- **STREET 2:** SUITE 200
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SECURITY EQUITY FUND
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Guggenheim Active INvestment Series (GAINS)-Core Plus Fund (Series ID: S000085233)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000250200 | SMA Class    | GUCPX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Guggenheim Funds Trust

- **b. Investment Company Act file number:** 811-01136

- **c. CIK number of Registrant:** 0000088525

- **d. LEI of Registrant:** 54930033G24U3UGWK691

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

  - **Street Address 1:** 702 King Farm Blvd., Suite 200

  - **City:** Rockville

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 20850

  - **Telephone number:** 301-296-5100

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

- **a. Name of Series:** Guggenheim Active INvestment Series (GAINS) - Core Plus Fund

- **b. EDGAR series identifier (if any):** S000085233

- **c. LEI of Series:** 254900FAWG2JU2ANGG24

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $97209737.44

**Total Liabilities:** $29703680.89

**Net Assets:** $67506056.55

**Delayed Delivery Securities:** $13973550.57

**Cash Not Reported:** $758897.52

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 498.06838400 | **1-Year:** 10627.67991070 | **5-Year:** 7989.02430270 | **10-Year:** 8194.90441020 | **30-Year:** 1345.09936730

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

- **3-Month:** 772.45784190 | **1-Year:** 572.29970930 | **5-Year:** 1945.21380020 | **10-Year:** 769.62930760 | **30-Year:** 105.18354810

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000250200 | -0.21%               | 1.59%                | 0.60%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $11724.94                | $-109165.65                                |
| Month 2  | $8423.42                 | $321376.90                                 |
| Month 3  | $17810.39                | $65477.58                                  |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CLARIOS GLOBAL LP/US FIN                   | Clarios Global Limited Partnership / Clarios US Finance Co.                                      | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $41320.40     | 0.06%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                   | Foundation Finance Trust                                                                         | CUSIP: 35040WAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101064.66    | 0.15%             | 2050-04-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| MERLIN BUYER INC                           | Merlin Buyer, Inc.                                                                               | CUSIP: N/A<br>LEI: 2549008CJ699WXZAWW31       | Long             | LON              | CORP              | US        |    249354 | PA      | $249977.40    | 0.37%             | 2028-12-14      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| ARSENAL AIC HOLDINGS LP                    | Arsenal AIC Parent LLC                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     99250 | PA      | $99095.17     | 0.15%             | 2030-08-19      | Variable      | 6.91%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES, INC.                      | BofA Securities, Inc.                                                                            | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Short            | RA               | CORP              | US        |   -240212 | PA      | $-240211.73   | -0.36%            |  |  |  | No            |                  2 | On Loan: No      |
| TD SECURITIES (USA) LLC                    | TD Securities (USA) LLC                                                                          | CUSIP: N/A<br>LEI: SUVUFHICNZMP2WKHG940       | Short            | RA               | CORP              | US        |    -51692 | PA      | $-51691.62    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| FIGRE Trust                                | FIGRE Trust 2025-PF2                                                                             | CUSIP: 316918AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $149858.70    | 0.22%             | 2055-10-25      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                          | PRPM LLC                                                                                         | CUSIP: 74390PAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     90077 | PA      | $90126.27     | 0.13%             | 2029-11-25      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES (USA) LLC                    | TD Securities (USA) LLC                                                                          | CUSIP: N/A<br>LEI: SUVUFHICNZMP2WKHG940       | Short            | RA               | CORP              | US        |    -71061 | PA      | $-71060.82    | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| Owl Rock CLO Ltd                           | Owl Rock CLO VII LLC                                                                             | CUSIP: 69121BAQ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $248750.00    | 0.37%             | 2038-04-20      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                | 1-Year/2-Year Interest Rate Swap                                                                 | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |   -712500 | NC      | $-1501.64     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                | Uniform MBS 30 Year                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $612831.00    | 0.91%             | 2025-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ATKORE INC                                 | Atkore, Inc.                                                                                     | CUSIP: 047649AA6<br>LEI: 52990002TI38AM4RPV48 | Long             | DBT              | CORP              | US        |    125000 | PA      | $116497.66    | 0.17%             | 2031-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| JB POINDEXTER & CO INC                     | JB Poindexter & Company, Inc.                                                                    | CUSIP: 465965AC5<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |    185000 | PA      | $193760.31    | 0.29%             | 2031-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                   | JP Morgan Mortgage Trust                                                                         | CUSIP: 46658UAE1<br>LEI: 529900DB310G9HU4BP72 | Long             | ABS-MBS          | CORP              | US        |    166927 | PA      | $169296.11    | 0.25%             | 2055-06-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                          | PRPM LLC                                                                                         | CUSIP: 69392NAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $188556.74    | 0.28%             | 2055-04-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| HARBOURVEST STRUCTURED SOLUTIONS IV LP     | HarbourVest Partners LLC                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $200000.00    | 0.30%             | 2030-09-15      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| FEDEX CORP                                 | FedEx Corp.                                                                                      | CUSIP: 31428XCS3<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |     75000 | PA      | $58705.88     | 0.09%             | 2045-02-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| DS ADMIRAL BIDCO LLC                       | DS Admiral Bidco LLC                                                                             | CUSIP: N/A<br>LEI: 25490030X7DBAF7KCR65       | Long             | LON              | CORP              | US        |    107538 | PA      | $107358.62    | 0.16%             | 2031-06-26      | Variable      | 8.41%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                | Uniform MBS 15 Year                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-MBS          | CORP              | US        |    362204 | PA      | $361679.89    | 0.54%             | 2025-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HOMES Trust                                | HOMES Trust                                                                                      | CUSIP: 43761DAE0<br>LEI: 254900LUV7YA0N50XT86 | Long             | ABS-MBS          | CORP              | US        |    183880 | PA      | $185010.41    | 0.27%             | 2070-01-25      | Variable      | 5.96%                 | No            |                  2 | On Loan: No      |
| CYPRESS INTERMEDIATE HOLDINGS II INC       | CCC Intelligent Solutions, Inc.                                                                  | CUSIP: N/A<br>LEI: 5493006JEEL9RIWY5T17       | Long             | LON              | CORP              | US        |    148875 | PA      | $148642.76    | 0.22%             | 2032-01-23      | Variable      | 6.16%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                        | Dominion Energy, Inc.                                                                            | CUSIP: 25746UDZ9<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50357.71     | 0.07%             | 2056-02-15      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                | Uniform MBS 30 Year                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-MBS          | CORP              | US        |  10400000 | PA      | $9134507.20   | 13.53%            | 2025-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| EMERSON ELECTRIC CO                        | Emerald Debt Merger Sub LLC                                                                      | CUSIP: N/A<br>LEI: 98450099EE3A0ZD5F786       | Long             | DBT              | CORP              | US        |    100000 | PA      | $122678.98    | 0.18%             | 2030-12-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Dreyfus Treasury Obligations C             | Dreyfus Treasury Obligations Cash Management Fund - Institutional Shares                         | CUSIP: N/A<br>LEI: 549300MKKM9KT7BF6329       | Long             | STIV             | RF                | US        |     29596 | NS      | $29595.82     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Capital Services LLC        | 1-Year/2-Year Interest Rate Swap                                                                 | CUSIP: N/A<br>LEI: I7331LVCZKQKX5T7XV54       | N/A              | DIR              |  | US        |   -997500 | NC      | $-2511.33     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                    | NYMT Loan Trust 2025-CP1                                                                         | CUSIP: 67121VAA2<br>LEI: 254900JF85A0S614L988 | Long             | ABS-MBS          | CORP              | US        |    244813 | PA      | $234784.69    | 0.35%             | 2069-11-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| LONESTAR INTERMEDIATE SUPER HOLDINGS LLC   | Asurion LLC                                                                                      | CUSIP: N/A<br>LEI: 549300KNQVXGIOXWK278       | Long             | LON              | CORP              | US        |    119850 | PA      | $119344.23    | 0.18%             | 2030-09-19      | Variable      | 8.41%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |   -712500 | NC      | $-1174.43     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                             | Brink's Co.                                                                                      | CUSIP: 109696AD6<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |    150000 | PA      | $156021.75    | 0.23%             | 2032-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Ares Direct Lending CLO LLC                | Ares Direct Lending CLO 6 LLC                                                                    | CUSIP: 039960AE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $350000.00    | 0.52%             | 2037-10-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                          | PRPM 2025-5 LLC                                                                                  | CUSIP: 69392RAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    984541 | PA      | $985464.68    | 1.46%             | 2030-07-25      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortg             | Saluda Grade Alternative Mortgage Trust 2025-LOC4                                                | CUSIP: 79589VAN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    372295 | PA      | $372918.95    | 0.55%             | 2055-06-25      | Floating      | 6.11%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International plc     | CURRENCY CONTRACT - Rec USD / Deliver EUR                                                        | CUSIP: N/A<br>LEI: 4PQUHN3JPFGFNF3BB653       | N/A              | DFE              |  | US        |   -609000 | NC      | $239.61       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                 | Verus Securitization Trust                                                                       | CUSIP: 92540VAD7<br>LEI: 213800TTP1CNX4WER720 | Long             | ABS-MBS          | CORP              | US        |     91641 | PA      | $92052.97     | 0.14%             | 2070-03-25      | Variable      | 5.51%                 | No            |                  2 | On Loan: No      |
| Station Place Securitization T             | Station Place Securitization Trust                                                               | CUSIP: 85773HAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     75000 | PA      | $75000.00     | 0.11%             | 2025-11-17      | Floating      | 5.45%                 | No            |                  3 | On Loan: No      |
| Onslow Bay Financial LLC                   | OBX Trust                                                                                        | CUSIP: 67121UAC0<br>LEI: 254900FPAGVH6E25VL74 | Long             | ABS-MBS          | CORP              | US        |    144252 | PA      | $145439.50    | 0.22%             | 2065-05-25      | Variable      | 5.82%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | Foreign Exchange USD/JPY                                                                         | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | N/A              | DFE              |  | US        |     64000 | NC      | $1885.97      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, N.A.                  | Foreign Exchange USD/JPY                                                                         | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | N/A              | DFE              |  | US        |     15000 | NC      | $442.02       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BXHPP Trust                                | BXHPP Trust                                                                                      | CUSIP: 05609JAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     25000 | PA      | $22838.78     | 0.03%             | 2036-08-15      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Tricon Residential                         | Tricon Residential Trust                                                                         | CUSIP: 89616UAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1494235.95   | 2.21%             | 2041-04-17      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                     | Venture Global LNG, Inc.                                                                         | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | EP               | CORP              | US        |     70000 | NS      | $69375.57     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Ares Direct Lending CLO LLC                | Ares Direct Lending CLO 6 LLC                                                                    | CUSIP: 039960AA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $200000.00    | 0.30%             | 2037-10-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                           | COLT Mortgage Loan Trust                                                                         | CUSIP: 12674LAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     90563 | PA      | $90973.10     | 0.13%             | 2070-03-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus             | BRAVO Residential Funding Trust                                                                  | CUSIP: 105925AC5<br>LEI: 254900RBHU9OC1RNXD92 | Long             | ABS-MBS          | CORP              | US        |    112957 | PA      | $113801.71    | 0.17%             | 2064-06-25      | Variable      | 6.16%                 | No            |                  2 | On Loan: No      |
| GAMMA MANAGEMENT LLC                       | Lottomatica Group SpA                                                                            | CUSIP: N/A<br>LEI: 549300R72LKEGT4EX026       | Long             | DBT              | CORP              | IT        |    100000 | PA      | $120994.35    | 0.18%             | 2031-01-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TRIPADVISOR INC                            | Tripadvisor, Inc.                                                                                | CUSIP: N/A<br>LEI: 549300XVG45PT5BART17       | Long             | LON              | CORP              | US        |      9975 | PA      | $9733.78      | 0.01%             | 2031-07-08      | Variable      | 6.91%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC        | 9-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: I7331LVCZKQKX5T7XV54       | N/A              | DIR              |  | US        |   1080000 | NC      | $13630.09     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Servpro Master Issuer, LLC                 | SERVPRO Master Issuer LLC                                                                        | CUSIP: 817743AJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    394000 | PA      | $407103.42    | 0.60%             | 2054-01-25      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Tru             | Provident Funding Mortgage Trust                                                                 | CUSIP: 74388NAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     91709 | PA      | $92194.49     | 0.14%             | 2055-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Bank of America, N.A.                      | Foreign Exchange EUR/USD                                                                         | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DFE              |  | US        |    991000 | NC      | $1693.25      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CONTOURGLOBAL POWER HLDG                   | ContourGlobal Power Holdings S.A.                                                                | CUSIP: 21220LAB9<br>LEI: 549300O5AGIFK0PQ1516 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $207748.00    | 0.31%             | 2030-02-28      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Tru             | Provident Funding Mortgage Trust 2025-4                                                          | CUSIP: 74387AAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $149952.00    | 0.22%             | 2055-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| FS Rialto Issuer Ltd                       | FS Rialto 2025-FL10 Issuer LLC                                                                   | CUSIP: 30340KAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $300226.80    | 0.44%             | 2042-08-19      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                        | Sound Point CLO Ltd.                                                                             | CUSIP: 83617EAJ9<br>LEI: 25490031SR8APTVC6E71 | Long             | ABS-O            | CORP              | KY        |    250000 | PA      | $251311.25    | 0.37%             | 2038-02-20      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| CLEARWATER ANALYTICS HOLDINGS INC          | Clearwater Analytics, LLC                                                                        | CUSIP: N/A<br>LEI: 894500N8DN2JO5ZDRQ11       | Long             | LON              | CORP              | US        |    150000 | PA      | $150000.00    | 0.22%             | 2032-02-10      | Variable      | 6.46%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                  | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | N/A              | DIR              |  | CA        |   -712500 | NC      | $-2319.79     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| TPG Real Estate Finance                    | TRTX Issuer Ltd.                                                                                 | CUSIP: 897764AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    100000 | PA      | $99834.91     | 0.15%             | 2042-09-18      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC        | 1-Year/2-Year Interest Rate Swap                                                                 | CUSIP: N/A<br>LEI: I7331LVCZKQKX5T7XV54       | N/A              | DIR              |  | US        |   -997500 | NC      | $-2384.78     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| QUALITYTECH LP                             | QTS Corp.                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    775000 | PA      | $775171.47    | 1.15%             | 2032-08-21      | Fixed         | 5.42%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs International                | Foreign Exchange USD/JPY                                                                         | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | N/A              | DFE              |  | US        |    -36000 | NC      | $-4.78        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                          | PRPM LLC                                                                                         | CUSIP: 69392PAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    372554 | PA      | $375121.31    | 0.56%             | 2055-07-25      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| BLUE OWL GP STAKES IV                      | Blue Owl IV                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    156000 | PA      | $156000.00    | 0.23%             | 2045-09-04      | Fixed         | 5.94%                 | No            |                  3 | On Loan: No      |
| Capstone Acquisition Holdings, Inc.        | Capstone Acquisition Holdings, Inc.                                                              | CUSIP: N/A<br>LEI: N/A                        | Short            | LON              | CORP              | US        |      -805 | PA      | $-3.67        | -0.00%            | 2029-11-12      | Variable      | 1.00%                 | No            |                  3 | On Loan: No      |
| Morgan Stanley Capital Services LLC        | CDX.NA.HY.43.V1 (25-35%)                                                                         | CUSIP: N/A<br>LEI: I7331LVCZKQKX5T7XV54       | N/A              | DCR              |  | US        |   -100000 | OU      | $-15536.76    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| ATLX Trust                                 | ATLX Trust                                                                                       | CUSIP: 049915AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     90418 | PA      | $87709.65     | 0.13%             | 2064-04-25      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| UBS AG                                     | Foreign Exchange USD/JPY                                                                         | CUSIP: N/A<br>LEI: BFM8T61CT2L1QCEMIK50       | N/A              | DFE              |  | US        |    119000 | NC      | $251.67       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PHILLIPS 66 CO                             | Phillips 66 Co.                                                                                  | CUSIP: 718547BA9<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75200.63     | 0.11%             | 2056-03-15      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                          | 1-Year/2-Year Interest Rate Swap                                                                 | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | N/A              | DIR              |  | GB        |   -712500 | NC      | $-2064.28     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fortress Credit Opportunities              | Fortress Credit Opportunities XXV CLO LLC                                                        | CUSIP: 34966QAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    250000 | PA      | $251731.25    | 0.37%             | 2037-01-15      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| Navigator Aviation Ltd                     | Navigator Aviation Ltd.                                                                          | CUSIP: 63943DAA7<br>LEI: 984500UF8C3O89B30652 | Long             | ABS-O            | CORP              | KY        |    322917 | PA      | $323144.53    | 0.48%             | 2049-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| PMT Loan Trust                             | PMT Loan Trust 2025-INV8                                                                         | CUSIP: 73015EAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    392360 | PA      | $395332.02    | 0.59%             | 2056-07-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| SLAM LLC                                   | Slam Ltd.                                                                                        | CUSIP: 78450TAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    244982 | PA      | $251251.77    | 0.37%             | 2050-05-15      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES (USA) LLC                    | TD Securities (USA) LLC                                                                          | CUSIP: N/A<br>LEI: SUVUFHICNZMP2WKHG940       | Short            | RA               | CORP              | US        |    -19926 | PA      | $-19926.18    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| SUNRISE COMMUNICATIONS AG                  | UPC Financing Partnership                                                                        | CUSIP: N/A<br>LEI: 213800DXWIS9KORQ3X94       | Long             | LON              | CORP              | US        |     75000 | PA      | $74732.25     | 0.11%             | 2032-02-29      | Variable      | 6.69%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                | 9-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |   1080000 | NC      | $13630.09     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                   | OBX Trust                                                                                        | CUSIP: 67448PAC7<br>LEI: 254900MY906NOBBPOA44 | Long             | ABS-MBS          | CORP              | US        |     76997 | PA      | $77310.24     | 0.11%             | 2064-07-25      | Variable      | 5.83%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                 | Verus Securitization Trust                                                                       | CUSIP: 92540XAC5<br>LEI: 213800Z7TIVJRAYLRV98 | Long             | ABS-MBS          | CORP              | US        |    434133 | PA      | $435630.87    | 0.65%             | 2070-06-25      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                 | Fannie Mae                                                                                       | CUSIP: 3136BWB21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    395812 | PA      | $396275.68    | 0.59%             | 2051-10-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust             | Long Beach Mortgage Loan Trust 2006-9                                                            | CUSIP: 54251WAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1160740 | PA      | $359132.13    | 0.53%             | 2036-10-25      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| Owl Rock CLO Ltd                           | Owl Rock CLO XIX LLC                                                                             | CUSIP: 69120NAB5<br>LEI: 254900PD652278RSJX41 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $99695.20     | 0.15%             | 2037-10-22      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                     | NextEra Energy Capital Holdings, Inc.                                                            | CUSIP: 65339KDE7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    144000 | PA      | $149523.98    | 0.22%             | 2055-08-15      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| UPX HIL 2025-1 Issuer Trust                | UPX HIL Issuer Trust                                                                             | CUSIP: 916925AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    240411 | PA      | $241435.94    | 0.36%             | 2047-01-25      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan              | New Residential Mortgage Loan Trust                                                              | CUSIP: 64832CAC7<br>LEI: 2138002D8CMDYG7QOU84 | Long             | ABS-MBS          | CORP              | US        |     91752 | PA      | $92654.86     | 0.14%             | 2065-05-25      | Variable      | 5.53%                 | No            |                  2 | On Loan: No      |
| MILE Trust                                 | MILE Trust                                                                                       | CUSIP: 59918AAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    900000 | PA      | $900281.25    | 1.33%             | 2042-07-15      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                          | PRPM LLC                                                                                         | CUSIP: 69381KAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    125219 | PA      | $125243.64    | 0.19%             | 2029-09-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| Owl Rock CLO Ltd                           | Owl Rock CLO X LLC                                                                               | CUSIP: 69120EAG4<br>LEI: 254900EEGFBE25I6SS76 | Long             | ABS-O            | CORP              | US        |   1300000 | PA      | $1303615.30   | 1.93%             | 2037-04-20      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| EQT AB                                     | Equities AB                                                                                      | CUSIP: 29439EAA7<br>LEI: 213800U7P9GOIRKCTB34 | Long             | DBT              | CORP              | SE        |    200000 | PA      | $206516.05    | 0.31%             | 2035-05-08      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Cerberus                                   | Cerberus Loan Funding XLVIII LLC                                                                 | CUSIP: 15675JAA8<br>LEI: 635400TT2BPIAD7JRA96 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100657.19    | 0.15%             | 2036-10-15      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| BECLE SA DE CV                             | Becle, SAB de CV                                                                                 | CUSIP: 07586PAA9<br>LEI: 529900JY55CZKMJLCE09 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $172802.90    | 0.26%             | 2031-10-14      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES (USA) LLC                    | TD Securities (USA) LLC                                                                          | CUSIP: N/A<br>LEI: SUVUFHICNZMP2WKHG940       | Short            | RA               | CORP              | US        |    -76716 | PA      | $-76715.79    | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, N.A.                      | Foreign Exchange EUR/USD                                                                         | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DFE              |  | US        |   1132000 | NC      | $1902.56      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MPLX LP                                    | MPLX, LP                                                                                         | CUSIP: 55336VBW9<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47193.60     | 0.07%             | 2053-03-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                    | Jane Street Group / JSG Finance, Inc.                                                            | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $192576.24    | 0.29%             | 2032-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| DB Master Finance LLC                      | DB Master Finance LLC                                                                            | CUSIP: 233046AQ4<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |    221375 | PA      | $208637.04    | 0.31%             | 2051-11-20      | Fixed         | 2.49%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES (USA) LLC                    | TD Securities (USA) LLC                                                                          | CUSIP: N/A<br>LEI: SUVUFHICNZMP2WKHG940       | Short            | RA               | CORP              | US        |   -145997 | PA      | $-145997.31   | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| ORACLE CORP                                | Oracle Corp.                                                                                     | CUSIP: 68389XDK8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75090.19     | 0.11%             | 2032-09-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| FERDINAND FFP ULTIMATE HOLDINGS LP         | Focus Financial Partners LLC                                                                     | CUSIP: N/A<br>LEI: 5493007L0E0VKRC2CP39       | Long             | LON              | CORP              | US        |    174373 | PA      | $174390.24    | 0.26%             | 2031-09-15      | Variable      | 6.91%                 | No            |                  2 | On Loan: No      |
| FIDELIS INSUR HLD LTD                      | Fidelis Insurance Holdings Ltd.                                                                  | CUSIP: 31575FAC0<br>LEI: 549300CDMGCAGJQ7DX03 | Long             | DBT              | CORP              | BM        |    200000 | PA      | $213649.20    | 0.32%             | 2055-06-15      | Variable      | 7.75%                 | No            |                  2 | On Loan: No      |
| BCRED MML CLO 2021-1 LLC                   | BCRED MML CLO LLC                                                                                | CUSIP: 072917AA5<br>LEI: 2549008X01GXURMQIW78 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100195.58    | 0.15%             | 2035-04-20      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES (USA) LLC                    | TD Securities (USA) LLC                                                                          | CUSIP: N/A<br>LEI: SUVUFHICNZMP2WKHG940       | Short            | RA               | CORP              | US        |    -97962 | PA      | $-97961.93    | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| METLIFE INC                                | MetLife, Inc.                                                                                    | CUSIP: 59156RCQ9<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |     70000 | PA      | $74372.62     | 0.11%             | 2055-03-15      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd             | Golub Capital Partners CLO 54M L.P                                                               | CUSIP: 38181GAC9<br>LEI: 2549007JA1TZWEDGPD41 | Long             | ABS-O            | CORP              | KY        |    500000 | PA      | $499991.20    | 0.74%             | 2037-08-05      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                   | OBX Trust                                                                                        | CUSIP: 673913AC3<br>LEI: 254900NK9PNLY9I00149 | Long             | ABS-MBS          | CORP              | US        |    285382 | PA      | $287597.48    | 0.43%             | 2064-10-25      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust             | Long Beach Mortgage Loan Trust 2006-9                                                            | CUSIP: 54251WAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    936243 | PA      | $281997.17    | 0.42%             | 2036-10-25      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                   | Madison Park Funding LXXI Ltd.                                                                   | CUSIP: 55817DAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    250000 | PA      | $249625.00    | 0.37%             | 2038-04-23      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |   -712500 | NC      | $-1777.55     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PS HOLDINGS INDEPENDENT VOTING COMPANY LTD | Pershing Square Holdings Ltd.                                                                    | CUSIP: N/A<br>LEI: U7LC4KOKCTZ0YWGI2G56       | Long             | DBT              | CORP              | GG        |    250000 | PA      | $230120.75    | 0.34%             | 2030-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FS Rialto Issuer Ltd                       | FS Rialto Issuer LLC                                                                             | CUSIP: 30340KAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $246964.93    | 0.37%             | 2042-08-19      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| PARKLAND CORP                              | Parkland Corp.                                                                                   | CUSIP: 70137WAN8<br>LEI: 549300UY5C6HUV0XLS53 | Long             | DBT              | CORP              | CA        |    185000 | PA      | $190098.97    | 0.28%             | 2032-08-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                             | Whirlpool Corp.                                                                                  | CUSIP: 963320AV8<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |     50000 | PA      | $38148.74     | 0.06%             | 2046-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SIGNATURE AVIATION US HOLDCO LP            | Brown Group Holding LLC                                                                          | CUSIP: N/A<br>LEI: 25490094PF4HHK9QS109       | Long             | LON              | CORP              | US        |    198995 | PA      | $199319.33    | 0.30%             | 2031-07-01      | Variable      | 6.99%                 | No            |                  2 | On Loan: No      |
| Bank of America, N.A.                      | Foreign Exchange EUR/USD                                                                         | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DFE              |  | US        |    102000 | NC      | $0.26         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC        | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: I7331LVCZKQKX5T7XV54       | N/A              | DIR              |  | US        |   -712500 | NC      | $-1219.37     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                        | Dominion Energy, Inc.                                                                            | CUSIP: 25746UEA3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150981.56    | 0.22%             | 2056-02-15      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                   | Prime Security Services Borrower LLC / Prime Finance, Inc.                                       | CUSIP: 74166MAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5000 | PA      | $5020.48      | 0.01%             | 2026-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                      | Foundry JV Holdco LLC                                                                            | CUSIP: 350930AG8<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $210897.10    | 0.31%             | 2033-01-25      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| HUNTER DOUGLAS INC                         | Hunter Douglas, Inc.                                                                             | CUSIP: N/A<br>LEI: 529900811T142NS3H544       | Long             | LON              | CORP              | US        |    148875 | PA      | $148875.00    | 0.22%             | 2032-01-17      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| Arbys Funding LLC                          | Arbys Funding LLC                                                                                | CUSIP: 038779AB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     95000 | PA      | $91738.22     | 0.14%             | 2050-07-30      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| Dreyfus Treasury Securities Ca             | Dreyfus Treasury Securities Cash Management Fund - Institutional Shares                          | CUSIP: N/A<br>LEI: 549300U78VESCW509025       | Long             | STIV             | RF                | US        |    699228 | NS      | $699228.08    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AGL CLO Ltd.                               | AGL CLO 39 Ltd.                                                                                  | CUSIP: 00121XAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    500000 | PA      | $501504.95    | 0.74%             | 2038-04-20      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                  | 1-Year/2-Year Interest Rate Swap                                                                 | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | N/A              | DIR              |  | US        |  -1140000 | NC      | $-3110.27     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                   | Neuberger Berman Loan Advisers Clo 58 Ltd.                                                       | CUSIP: 640970AC3<br>LEI: 254900FFU2A0PJWUZ830 | Long             | ABS-O            | CORP              | KY        |    250000 | PA      | $250707.50    | 0.37%             | 2038-10-18      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                | 1-Year/2-Year Interest Rate Swap                                                                 | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |   -997500 | NC      | $-2384.78     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Owl Rock CLO Ltd                           | OWL Rock Clo XXII LLC                                                                            | CUSIP: 69121AAA4<br>LEI: 254900R8KCHZBP66MP06 | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $300417.87    | 0.45%             | 2037-10-20      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| HEALTH CARE SERVICE CORP                   | Health Care Service Corporation A Mutual Legal Reserve Co.                                       | CUSIP: 42218SAM0<br>LEI: 549300TMJ1FKCKECR148 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49127.83     | 0.07%             | 2054-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BDS Ltd                                    | BDS 2025-FL15 LLC                                                                                | CUSIP: 05556EAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $300254.85    | 0.44%             | 2043-03-19      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| RS IVY HOLDCO INC                          | ITT Holdings LLC                                                                                 | CUSIP: N/A<br>LEI: 549300TH2PHOLK31LB42       | Long             | LON              | CORP              | US        |     49499 | PA      | $49483.72     | 0.07%             | 2030-10-11      | Variable      | 6.64%                 | No            |                  2 | On Loan: No      |
| JANE STREET GROUP LLC                      | Jane Street Group LLC                                                                            | CUSIP: N/A<br>LEI: 5493002N1IVX6KHGYO08       | Long             | LON              | CORP              | US        |    148828 | PA      | $147588.38    | 0.22%             | 2031-12-15      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                       | LHOME Mortgage Trust 2025-RTL3                                                                   | CUSIP: 50205YAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $250665.50    | 0.37%             | 2040-08-25      | Variable      | 5.24%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                  | IQVIA, Inc.                                                                                      | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205628.20    | 0.30%             | 2032-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| STORE Master Funding LLC                   | Store Master Funding I-VII XIV XIX XX XXIV XXII                                                  | CUSIP: 86212XAM2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     99292 | PA      | $101628.00    | 0.15%             | 2054-05-20      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                 | Fannie Mae                                                                                       | CUSIP: 3140NY6E6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    249784 | PA      | $254331.10    | 0.38%             | 2055-07-01      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| CREATIVE PLANNING HOLDCO LLC               | CPI Holdco B LLC                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     50000 | PA      | $49937.50     | 0.07%             | 2031-05-17      | Variable      | 6.16%                 | No            |                  2 | On Loan: No      |
| Vantage Data Centers LLC                   | Vantage Data Centers LLC                                                                         | CUSIP: 92212KAH9<br>LEI: 5493000RL8X7WTQ7HO20 | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $301519.41    | 0.45%             | 2055-08-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Greystone Commercial Real Esta             | Greystone CRE Notes LLC                                                                          | CUSIP: 39810MAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $250080.30    | 0.37%             | 2043-01-15      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                  | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | N/A              | DIR              |  | US        |   -712500 | NC      | $-964.58      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HAH GROUP HOLDING COMPANY LLC              | HAH Group Holding Co. LLC                                                                        | CUSIP: N/A<br>LEI: 254900FFJQHW9R90FL74       | Long             | LON              | CORP              | US        |      5357 | PA      | $4809.13      | 0.01%             | 2031-09-24      | Variable      | 9.16%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                | 1-Year/2-Year Interest Rate Swap                                                                 | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |   -712500 | NC      | $-2064.28     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                      | Palmer Square CLO Ltd.                                                                           | CUSIP: 69688GAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    250000 | PA      | $250902.60    | 0.37%             | 2037-07-20      | Floating      | 5.93%                 | No            |                  2 | On Loan: No      |
| BELL CANADA                                | Bell Telephone Company of Canada or Bell Canada                                                  | CUSIP: 0778FPAQ2<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $52255.30     | 0.08%             | 2055-09-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| NASSAU COMPANIES OF NY                     | Nassau Companies of New York                                                                     | CUSIP: 63155AAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $204263.00    | 0.30%             | 2030-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| PAR PACIFIC HOLDINGS INC                   | Par Petroleum LLC                                                                                | CUSIP: N/A<br>LEI: 984500CCF05C2FB39F45       | Long             | LON              | CORP              | US        |     59695 | PA      | $59546.13     | 0.09%             | 2030-02-28      | Variable      | 8.03%                 | No            |                  2 | On Loan: No      |
| BSPRT Issuer, Ltd.                         | BSPRT Issuer LLC                                                                                 | CUSIP: 05613RAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $99564.88     | 0.15%             | 2039-07-15      | Floating      | 6.44%                 | No            |                  2 | On Loan: No      |
| Obsidian Issuer LLC                        | Obsidian Issuer LLC                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $250000.00    | 0.37%             | 2055-05-15      | Fixed         | 6.93%                 | No            |                  3 | On Loan: No      |
| FORTITUDE GROUP HOLDINGS                   | Fortitude Group Holdings LLC                                                                     | CUSIP: 34966XAA6<br>LEI: 2549006R9ZUL08JFIH12 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51914.93     | 0.08%             | 2030-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BLUE OWL GP STAKES IV                      | Blue Owl IV                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    144000 | PA      | $144000.00    | 0.21%             | 2045-09-04      | Fixed         | 5.94%                 | No            |                  3 | On Loan: No      |
| BSPRT Issuer, Ltd.                         | BSPRT 2025-FL12 Issuer LLC                                                                       | CUSIP: 05619BAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $99705.20     | 0.15%             | 2043-01-17      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                     | NextEra Energy Capital Holdings, Inc.                                                            | CUSIP: 65339K837<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | EP               | CORP              | US        |       225 | NS      | $5793.75      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding             | Avis Budget Rental Car Funding AESOP LLC                                                         | CUSIP: 05377RKR4<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    900000 | PA      | $926339.13    | 1.37%             | 2031-08-20      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc                          | CURRENCY CONTRACT - Rec USD / Deliver EUR                                                        | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | N/A              | DFE              |  | US        |     -6000 | NC      | $-47.04       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                          | PRPM LLC                                                                                         | CUSIP: 69395KAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    190493 | PA      | $190691.23    | 0.28%             | 2028-08-25      | Variable      | 5.77%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Securities LLC                 | U.S. Secured Overnight Financing Rate                                                            | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | N/A              | DIR              |  | US        |  26200000 | OU      | $421448.22    | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd             | Golub Capital Partners Clo 49M Ltd.                                                              | CUSIP: 38181HAC7<br>LEI: 254900NUVOJAHAT10W61 | Long             | ABS-O            | CORP              | KY        |   1500000 | PA      | $1502252.40   | 2.23%             | 2038-07-20      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| Tricon Residential                         | Tricon Residential Trust                                                                         | CUSIP: 895974AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100142.10    | 0.15%             | 2042-03-17      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| VFH PARENT / VALOR CO                      | VFH Parent LLC / Valor Company-Issuer, Inc.                                                      | CUSIP: 91824YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $186171.12    | 0.28%             | 2031-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC        | CDX.NA.HY.43.V1 (15-25%)                                                                         | CUSIP: N/A<br>LEI: I7331LVCZKQKX5T7XV54       | N/A              | DCR              |  | US        |   -100000 | OU      | $-8561.31     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GCAT                                       | GCAT Trust                                                                                       | CUSIP: 36168MAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     77411 | PA      | $77136.84     | 0.11%             | 2067-04-25      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| HLEND CLO LLC                              | Hlend CLO LLC                                                                                    | CUSIP: 43367AAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $298989.87    | 0.44%             | 2037-08-15      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Ares Direct Lending CLO LLC                | Ares Direct Lending CLO 3 LLC                                                                    | CUSIP: 039945AC4<br>LEI: 254900TU6Z546P794928 | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $249161.63    | 0.37%             | 2037-01-20      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                | FIGRE Trust                                                                                      | CUSIP: 316922AB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    180076 | PA      | $182441.81    | 0.27%             | 2055-06-25      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| ENSTAR GROUP LTD                           | Enstar Group Ltd.                                                                                | CUSIP: 29359UAD1<br>LEI: 213800AMAL5QFXVUCN04 | Long             | DBT              | CORP              | BM        |     50000 | PA      | $52145.70     | 0.08%             | 2045-04-01      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                | 9-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |   1080000 | NC      | $13630.09     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BELL CANADA                                | Bell Telephone Company of Canada or Bell Canada                                                  | CUSIP: 0778FPAP4<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $103743.00    | 0.15%             | 2055-09-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Bank of America, N.A.                      | Foreign Exchange EUR/USD                                                                         | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DFE              |  | US        |    102000 | NC      | $0.26         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SOLRR Aircraft 2021-1 Limited              | Lunar Structured Aircraft Portfolio Notes                                                        | CUSIP: 83438LAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | IE        |    167847 | PA      | $158568.62    | 0.23%             | 2046-10-15      | Fixed         | 2.64%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAINMENT INC                  | Caesars Entertainment, Inc.                                                                      | CUSIP: N/A<br>LEI: 549300FA4CTCW903Y781       | Long             | LON              | CORP              | US        |     97605 | PA      | $97273.91     | 0.14%             | 2030-02-06      | Variable      | 6.41%                 | No            |                  2 | On Loan: No      |
| MSC MEDITERRANEAN SHIPPING CO SA           | Terminal Investment Ltd.                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | LU        |    200000 | PA      | $201366.93    | 0.30%             | 2032-07-09      | Fixed         | 5.63%                 | No            |                  3 | On Loan: No      |
| Onslow Bay Financial LLC                   | OBX Trust                                                                                        | CUSIP: 673914AD9<br>LEI: 2549007E8KF1RJ2ZV866 | Long             | ABS-MBS          | CORP              | US        |     88422 | PA      | $89031.03     | 0.13%             | 2064-12-25      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| Tricon Residential                         | Tricon Residential Trust                                                                         | CUSIP: 895975AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $99094.54     | 0.15%             | 2041-11-17      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                   | OBX Trust                                                                                        | CUSIP: 673914AE7<br>LEI: 2549007E8KF1RJ2ZV866 | Long             | ABS-MBS          | CORP              | US        |     88422 | PA      | $88910.21     | 0.13%             | 2064-12-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC        | 9-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: I7331LVCZKQKX5T7XV54       | N/A              | DIR              |  | US        |  -1080000 | NC      | $-3805.93     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ITT HOLDINGS LLC                           | ITT Holdings LLC                                                                                 | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    145000 | PA      | $142554.52    | 0.21%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AMFAM HOLDINGS INC                         | AmFam Holdings, Inc.                                                                             | CUSIP: 03115AAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    325000 | PA      | $214311.45    | 0.32%             | 2051-03-11      | Fixed         | 3.83%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                          | State Street Corp.                                                                               | CUSIP: 857477CS0<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EP               | CORP              | US        |     50000 | NS      | $51588.35     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| BCRED CLO LLC                              | BCRED CLO LLC                                                                                    | CUSIP: 05556FAC7<br>LEI: 2549001W2Y6F50VEZG93 | Long             | ABS-O            | CORP              | KY        |    500000 | PA      | $503166.55    | 0.75%             | 2037-04-20      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                               | ADT Security Corp.                                                                               | CUSIP: 74166NAA2<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |    400000 | PA      | $387378.63    | 0.57%             | 2032-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Owl Rock CLO Ltd                           | Owl Rock CLO IX LLC                                                                              | CUSIP: 69120BAH8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $251621.40    | 0.37%             | 2037-11-22      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                | FIGRE Trust                                                                                      | CUSIP: 316927AA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    359334 | PA      | $368540.76    | 0.55%             | 2054-05-25      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM GROUP INC                        | TransDigm, Inc.                                                                                  | CUSIP: N/A<br>LEI: 88Q84GB3X55CF5OC7582       | Long             | LON              | CORP              | US        |     24750 | PA      | $24732.92     | 0.04%             | 2032-01-19      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                | 1-Year/2-Year Interest Rate Swap                                                                 | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |  -1140000 | NC      | $-2488.20     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GRANT THORNTON ADVISORS HOLDINGS LLC       | Grant Thornton Advisors LLC                                                                      | CUSIP: N/A<br>LEI: 254900XS1SHU0YY3WF58       | Long             | LON              | CORP              | US        |    200000 | PA      | $199540.00    | 0.30%             | 2031-05-30      | Variable      | 6.91%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                      | Venture Global Plaquemines LNG LLC                                                               | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    120000 | PA      | $132601.20    | 0.20%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| TELUS CORP                                 | TELUS Corp.                                                                                      | CUSIP: 87971MCL5<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $51475.51     | 0.08%             | 2055-10-15      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Owl Rock CLO Ltd                           | OWL Rock Clo XXI LLC                                                                             | CUSIP: 69120UAB9<br>LEI: 2549000CE1W4KBWC2X49 | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $249151.55    | 0.37%             | 2034-07-24      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                       | Cross 2025-H6 Mortgage Trust                                                                     | CUSIP: 22758TAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    197413 | PA      | $198075.67    | 0.29%             | 2070-07-25      | Variable      | 5.54%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                              | Citigroup, Inc.                                                                                  | CUSIP: 172967PR6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EP               | CORP              | US        |    100000 | NS      | $101526.61    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC Capital Markets, LLC                   | RBC Capital Markets LLC                                                                          | CUSIP: N/A<br>LEI: 549300LCO2FLSSVFFR64       | Short            | RA               | CORP              | US        |    -50505 | PA      | $-50504.76    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| WAMU Asset-Backed Certificates             | WaMu Asset-Backed Certificates WaMu Series 2007-HE2 Trust                                        | CUSIP: 92926SAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    978945 | PA      | $340793.39    | 0.50%             | 2037-04-25      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| ACREC LLC                                  | Acrec LLC                                                                                        | CUSIP: 00112HAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $148379.24    | 0.22%             | 2042-08-18      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                  | ONEOK, Inc.                                                                                      | CUSIP: 682680BF9<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |     50000 | PA      | $56021.24     | 0.08%             | 2051-01-15      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| PEER HOLDING I BV                          | Peer Holding III BV                                                                              | CUSIP: N/A<br>LEI: 7245002S0K5Q59JCVQ03       | Long             | LON              | CORP              | NL        |    450000 | PA      | $450000.00    | 0.67%             | 2032-09-25      | Variable      | 2.25%                 | No            |                  2 | On Loan: No      |
| HT HOLDING LLC                             | HighTower Holding LLC                                                                            | CUSIP: N/A<br>LEI: 254900MKOSB7RTMA9K12       | Long             | LON              | CORP              | US        |    250000 | PA      | $249532.50    | 0.37%             | 2032-02-03      | Variable      | 7.07%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES (USA) LLC                    | TD Securities (USA) LLC                                                                          | CUSIP: N/A<br>LEI: SUVUFHICNZMP2WKHG940       | Short            | RA               | CORP              | US        |   -198732 | PA      | $-198731.59   | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| BDS Ltd                                    | BDS LLC                                                                                          | CUSIP: 05555MAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100026.93    | 0.15%             | 2039-09-19      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| HPS Private Credit CLO                     | HPS Private Credit CLO 2025-3 LLC                                                                | CUSIP: 40445YAC8<br>LEI: 254900WC9JHPFFXUKB77 | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $249263.70    | 0.37%             | 2037-07-20      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY                             | Ryan Specialty LLC                                                                               | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13145.42     | 0.02%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HF SINCLAIR CORP                           | HF Sinclair Corp.                                                                                | CUSIP: 403949AT7<br>LEI: 2549009G116AM01XHN24 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101648.41    | 0.15%             | 2032-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES, INC.                      | BofA Securities, Inc.                                                                            | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Short            | RA               | CORP              | US        |   -417189 | PA      | $-417188.54   | -0.62%            |  |  |  | No            |                  2 | On Loan: No      |
| Service Experts Issuer                     | Service Experts Issuer 2025-1 LLC                                                                | CUSIP: 81758JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    192527 | PA      | $193189.57    | 0.29%             | 2037-01-20      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Apollo Aviation Securitization             | AASET                                                                                            | CUSIP: 00258PAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    239205 | PA      | $244382.67    | 0.36%             | 2050-02-16      | Fixed         | 5.94%                 | No            |                  2 | On Loan: No      |
| JCP Direct Lending CLO LLC                 | JCP Direct Lending CLO 2023-1 LLC                                                                | CUSIP: 46656TAW6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | JE        |   1000000 | PA      | $1002482.70   | 1.49%             | 2037-07-20      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Securities LLC                 | CDX.NA.HY.44.V1                                                                                  | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | N/A              | DCR              |  | US        |  -1850000 | OU      | $-147886.23   | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| SLAM LLC                                   | Slam Ltd.                                                                                        | CUSIP: 83100AAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    936739 | PA      | $943866.05    | 1.40%             | 2049-09-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Inc.              | Citigroup Global Markets, Inc.                                                                   | CUSIP: N/A<br>LEI: MBNUM2BPBDO7JBLYG310       | Short            | RA               | CORP              | US        |   -386828 | PA      | $-386827.99   | -0.57%            |  |  |  | No            |                  2 | On Loan: No      |
| BELROSE FUNDING TRUST II                   | Belrose Funding Trust II                                                                         | CUSIP: 08079KAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $108293.72    | 0.16%             | 2055-05-15      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| Taco Bell Funding, LLC                     | Taco Bell Funding LLC                                                                            | CUSIP: 87342RAK0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $150313.35    | 0.22%             | 2055-08-25      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                          | 1-Year/2-Year Interest Rate Swap                                                                 | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | N/A              | DIR              |  | GB        |   -712500 | NC      | $-1501.64     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITADEL ENTERPRISE AMERICAS LLC            | Ceamer Finance LLC                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | US        |     96522 | PA      | $99188.10     | 0.15%             | 2039-11-15      | Fixed         | 6.79%                 | No            |                  3 | On Loan: No      |
| Morgan Stanley Residential Mor             | Morgan Stanley Residential Mortgage Loan Trust                                                   | CUSIP: 61778LAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    185234 | PA      | $186541.62    | 0.28%             | 2070-05-25      | Variable      | 5.76%                 | No            |                  2 | On Loan: No      |
| EQUITABLE HOLDINGS INC                     | Equitable Holdings, Inc.                                                                         | CUSIP: 29452EAD3<br>LEI: 549300FIBAKMNHPZ4009 | Long             | DBT              | CORP              | US        |     77000 | PA      | $80254.33     | 0.12%             | 2055-03-28      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| Wellfleet CLO Ltd                          | Wellfleet CLO Ltd.                                                                               | CUSIP: 94949FAN3<br>LEI: 2549008BRKHJZB917M86 | Long             | ABS-O            | CORP              | KY        |    250000 | PA      | $251057.58    | 0.37%             | 2037-10-18      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| ALLIANZ SE                                 | Allianz SE                                                                                       | CUSIP: 018820AE0<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $206480.00    | 0.31%             | N/A             | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                | 1-Year/2-Year Interest Rate Swap                                                                 | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |  -1140000 | NC      | $-3110.27     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, N.A.                      | Foreign Exchange EUR/USD                                                                         | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DFE              |  | US        |     30000 | NC      | $0.09         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BDS Ltd                                    | BDS LLC                                                                                          | CUSIP: 072921AC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $199170.84    | 0.30%             | 2042-10-21      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                   | Rogers Communications, Inc.                                                                      | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $53008.16     | 0.08%             | 2055-04-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                       | OneMain Finance Corp.                                                                            | CUSIP: 682691AF7<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    130000 | PA      | $135897.04    | 0.20%             | 2031-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HF SINCLAIR CORP                           | HF Sinclair Corp.                                                                                | CUSIP: 403949AS9<br>LEI: 2549009G116AM01XHN24 | Long             | DBT              | CORP              | US        |    150000 | PA      | $156794.85    | 0.23%             | 2035-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                | Uniform MBS 15 Year                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-MBS          | CORP              | US        |    617796 | PA      | $617070.71    | 0.91%             | 2025-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Ares Direct Lending CLO LLC                | Ares Direct Lending CLO 2 LLC                                                                    | CUSIP: 04021CAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    100000 | PA      | $99674.68     | 0.15%             | 2036-10-20      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| UBS AG                                     | Foreign Exchange USD/JPY                                                                         | CUSIP: N/A<br>LEI: BFM8T61CT2L1QCEMIK50       | N/A              | DFE              |  | US        |   -119000 | NC      | $-15.80       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas                                | 9-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |  -1080000 | NC      | $-3805.93     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Elmwood CLO 38 Ltd                         | Elmwood CLO 38 Ltd.                                                                              | CUSIP: 289908AC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    250000 | PA      | $249574.98    | 0.37%             | 2038-04-22      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                   | Builders FirstSource, Inc.                                                                       | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    185000 | PA      | $190569.61    | 0.28%             | 2034-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                | Oracle Corp.                                                                                     | CUSIP: 68389XDP7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50135.75     | 0.07%             | 2045-09-26      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus             | BRAVO                                                                                            | CUSIP: 05613JAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     75757 | PA      | $76129.44     | 0.11%             | 2064-08-01      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |   -712500 | NC      | $-2097.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| VNOM SUB INC                               | Vnom Sub, Inc.                                                                                   | CUSIP: 92763MAA3<br>LEI: 5299009LINL232255G03 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25004.38     | 0.04%             | 2027-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                   | Neuberger Berman CLO 32R Ltd.                                                                    | CUSIP: 64135XAC5<br>LEI: 25490093SHVBS5BLDZ40 | Long             | ABS-O            | CORP              | KY        |   1500000 | PA      | $1504095.60   | 2.23%             | 2039-07-20      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                 | Verus Securitization Trust                                                                       | CUSIP: 92539GAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    110493 | PA      | $110825.28    | 0.16%             | 2068-03-25      | Variable      | 6.74%                 | No            |                  2 | On Loan: No      |
| Five Guys Funding, LLC                     | Five Guys Holdings, Inc.                                                                         | CUSIP: 33830JAE5<br>LEI: 549300XWT8G8Q3Z3HJ19 | Long             | ABS-O            | CORP              | US        |     99250 | PA      | $103232.54    | 0.15%             | 2054-01-26      | Fixed         | 7.55%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                     | Sequoia Mortgage Trust                                                                           | CUSIP: 81743GAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    227123 | PA      | $228323.06    | 0.34%             | 2055-06-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| RWC Commercial Mortgage Securi             | RWC Commercial Mortgage 2025-1 Trust                                                             | CUSIP: 78348LAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $149808.80    | 0.22%             | 2040-06-25      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| STORE Master Funding LLC                   | STORE Master Funding LLC                                                                         | CUSIP: 86212FAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $350464.14    | 0.52%             | 2055-10-20      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                | Oracle Corp.                                                                                     | CUSIP: 68389XDT9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49907.92     | 0.07%             | 2065-09-26      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank                      | CURRENCY CONTRACT - Rec USD / Deliver EUR                                                        | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | N/A              | DFE              |  | US        |     -5000 | NC      | $3.45         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corpora             | Chase Home Lending Mortgage Trust                                                                | CUSIP: 161935AE1<br>LEI: 529900V91KVGSU3Z1A61 | Long             | ABS-MBS          | CORP              | US        |    139658 | PA      | $140501.07    | 0.21%             | 2056-04-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                | FIGRE Trust                                                                                      | CUSIP: 30191LAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    257691 | PA      | $260879.39    | 0.39%             | 2055-01-25      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS                   | Focus Financial Partners LLC                                                                     | CUSIP: 34417VAA5<br>LEI: 5493007L0E0VKRC2CP39 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128014.75    | 0.19%             | 2031-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GCAT                                       | GCAT 2025-NQM4 Trust                                                                             | CUSIP: 367923AD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    245559 | PA      | $247477.22    | 0.37%             | 2070-06-25      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| Tenet Equity Funding                       | Tenet Equity Funding LLC                                                                         | CUSIP: 88035KAA7<br>LEI: 254900PL130UZ4FW1R84 | Long             | ABS-O            | CORP              | US        |     99778 | PA      | $100567.81    | 0.15%             | 2054-10-20      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| ARAMARK                                    | Aramark Services, Inc.                                                                           | CUSIP: N/A<br>LEI: 42YMHYH0XMHJEXDUB065       | Long             | LON              | CORP              | US        |    144289 | PA      | $144439.40    | 0.21%             | 2030-06-24      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Bank of America, N.A.                      | Foreign Exchange USD/JPY                                                                         | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DFE              |  | US        |     31000 | NC      | $399.15       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. Morgan Securities LLC                 | CDX.NA.IG.45.V1                                                                                  | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | N/A              | DCR              |  | US        |  -3500000 | OU      | $-79218.90    | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| ABPCI Direct Lending Fund CLO              | ABPCI Direct Lending Fund CLO V Ltd.                                                             | CUSIP: 000807AW7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | JE        |    100000 | PA      | $101517.45    | 0.15%             | 2036-01-20      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | Foreign Exchange USD/JPY                                                                         | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | N/A              | DFE              |  | US        |    177000 | NC      | $2279.03      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                       | Cross Mortgage Trust                                                                             | CUSIP: 22757CAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     84625 | PA      | $85196.94     | 0.13%             | 2069-11-25      | Variable      | 5.97%                 | No            |                  2 | On Loan: No      |
| ALUMINA PTY LTD                            | Alumina Pty Ltd.                                                                                 | CUSIP: 02220AAB3<br>LEI: 2138002VD9MW2WT8HR38 | Long             | DBT              | CORP              | AU        |    200000 | PA      | $205027.00    | 0.30%             | 2032-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                          | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | N/A              | DIR              |  | GB        |   -712500 | NC      | $-2294.17     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Cerberus                                   | Cerberus Loan Funding XLVIII LLC                                                                 | CUSIP: 15675JAE0<br>LEI: 635400TT2BPIAD7JRA96 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100300.52    | 0.15%             | 2036-10-15      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| TELUS CORP                                 | TELUS Corp.                                                                                      | CUSIP: 87971MCM3<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $52720.85     | 0.08%             | 2055-10-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                              | U.S. Treasury Bills                                                                              | CUSIP: 912797QG5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    970000 | PA      | $967612.59    | 1.43%             | 2025-10-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |   -712500 | NC      | $-964.58      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                | Freddie Mac                                                                                      | CUSIP: 3137HJWE3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    401529 | PA      | $407330.89    | 0.60%             | 2053-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RBC Capital Markets, LLC                   | RBC Capital Markets LLC                                                                          | CUSIP: N/A<br>LEI: 549300LCO2FLSSVFFR64       | Short            | RA               | CORP              | US        |    -47663 | PA      | $-47663.00    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Gilead Aviation (Warehouse) LL             | Gilead Aviation LLC                                                                              | CUSIP: 37556TAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    243836 | PA      | $248824.31    | 0.37%             | 2050-03-15      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Anchorage Credit Funding Ltd.              | Anchorage Credit Funding 3 Ltd.                                                                  | CUSIP: 03330EAJ3<br>LEI: 5493003NNQWXMTSTMF21 | Long             | ABS-O            | CORP              | KY        |    250000 | PA      | $239548.08    | 0.35%             | 2039-01-28      | Fixed         | 2.87%                 | No            |                  2 | On Loan: No      |
| METIS ISSUER 2025-1 LLC                    | Metis Issuer, LLC                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $246264.15    | 0.36%             | 2055-05-15      | Fixed         | 6.89%                 | No            |                  3 | On Loan: No      |
| Station Place Securitization T             | Station Place Securitization Trust                                                               | CUSIP: 85779EAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50000 | PA      | $50000.00     | 0.07%             | 2025-11-17      | Floating      | 5.45%                 | No            |                  3 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                   | Jefferies Finance LLC / JFIN Company-Issuer Corp.                                                | CUSIP: 47232MAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $193236.94    | 0.29%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                          | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | N/A              | DIR              |  | GB        |   -712500 | NC      | $-1030.21     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| VOLT PARENT LP                             | Calpine Construction Finance Company, LP                                                         | CUSIP: N/A<br>LEI: V0Q3DOB0FIB2XI1KWU77       | Long             | LON              | CORP              | US        |     25000 | PA      | $24997.00     | 0.04%             | 2030-07-31      | Variable      | 6.16%                 | No            |                  2 | On Loan: No      |
| AREIT CRE Trust                            | AREIT Ltd.                                                                                       | CUSIP: 00193DAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $150092.75    | 0.22%             | 2029-12-17      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Babson CLO Ltd                             | Barings CLO Ltd.                                                                                 | CUSIP: 06762VAJ5<br>LEI: 549300P3XUH38MXFT836 | Long             | ABS-O            | CORP              | KY        |    100000 | PA      | $100226.03    | 0.15%             | 2037-10-20      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| SYMETRA LIFE INSURANCE                     | Symetra Life Insurance Co.                                                                       | CUSIP: 87151KAA7<br>LEI: 2CKADF5K7JYB5EG0VY36 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53043.51     | 0.08%             | 2055-10-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                   | Eagle Funding Luxco SARL                                                                         | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    250000 | PA      | $253640.00    | 0.38%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GCAT                                       | GCAT Trust                                                                                       | CUSIP: 36171MAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    240353 | PA      | $242350.79    | 0.36%             | 2070-05-25      | Variable      | 5.96%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Securities LLC                 | U.S. Secured Overnight Financing Rate                                                            | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | N/A              | DIR              |  | US        |   4870000 | OU      | $134955.34    | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Woodward Capital Management                | RCKT Mortgage Trust                                                                              | CUSIP: 749427AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    259625 | PA      | $262658.74    | 0.39%             | 2045-01-25      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Inc.              | Citigroup Global Markets, Inc.                                                                   | CUSIP: N/A<br>LEI: MBNUM2BPBDO7JBLYG310       | Short            | RA               | CORP              | US        |   -249795 | PA      | $-249794.77   | -0.37%            |  |  |  | No            |                  2 | On Loan: No      |
| PARK RIVER HOLDINGS INC                    | Park River Holdings, Inc.                                                                        | CUSIP: N/A<br>LEI: 254900PGY077KWCROT75       | Long             | LON              | CORP              | US        |    200000 | PA      | $199728.00    | 0.30%             | 2027-12-28      | Variable      | 7.80%                 | No            |                  2 | On Loan: No      |
| DELTA PARENT HOLDINGS INC                  | Kroll, Inc.                                                                                      | CUSIP: N/A<br>LEI: 549300FDREJLOIGXY104       | Long             | LON              | CORP              | US        |    150000 | PA      | $149414.06    | 0.22%             | 2032-09-12      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| Stack Infrastructure Issuer LL             | Stack Infrastructure Issuer LLC                                                                  | CUSIP: 85236KAP7<br>LEI: 254900AV7V87H3A2WM57 | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $398333.28    | 0.59%             | 2050-05-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Securities LLC                 | U.S. Secured Overnight Financing Rate                                                            | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | N/A              | DIR              |  | US        |   5000000 | OU      | $145326.40    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| AMSTED INDUSTRIES                          | Amsted Industries, Inc.                                                                          | CUSIP: 032177AK3<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |     45000 | PA      | $46187.10     | 0.07%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MIDCAP FUNDING XLVI TRUST                  | MidCap Funding XLVI Trust                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    250000 | PA      | $250000.00    | 0.37%             | 2028-04-15      | Variable      | 6.72%                 | No            |                  3 | On Loan: No      |
| SPEEDSTER MIV SCSP                         | Speedster Bidco GmbH                                                                             | CUSIP: N/A<br>LEI: 254900LE837QB2YYV824       | Long             | LON              | CORP              | DE        |     49750 | PA      | $49781.65     | 0.07%             | 2031-12-10      | Variable      | 7.24%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                   | Mill City Securities Ltd.                                                                        | CUSIP: 599920AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     61523 | PA      | $57446.82     | 0.09%             | 2069-11-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC        | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: I7331LVCZKQKX5T7XV54       | N/A              | DIR              |  | US        |   -712500 | NC      | $-1782.64     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas                                | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |   -712500 | NC      | $-1223.63     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SERVICE LOGIC ACQUISITION INC              | Service Logic Acquisition, Inc.                                                                  | CUSIP: N/A<br>LEI: 25490008CFAWEVHSQF88       | Long             | LON              | CORP              | US        |     24688 | PA      | $24703.99     | 0.04%             | 2027-10-29      | Variable      | 7.31%                 | No            |                  2 | On Loan: No      |
| SAZERAC CO INC                             | Sazerac Co Inc.                                                                                  | CUSIP: N/A<br>LEI: 9QU0CG1O4LSOB6IFK895       | Long             | LON              | CORP              | US        |    250000 | PA      | $251390.00    | 0.37%             | 2032-07-09      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                | RCKT Mortgage Trust 2025-CES6                                                                    | CUSIP: 748949AA2<br>LEI: 2549002LEW4WNQBOMB89 | Long             | ABS-MBS          | CORP              | US        |    239496 | PA      | $241893.65    | 0.36%             | 2055-06-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| SCIH SALT HOLDINGS INC                     | SCIH Salt Holdings, Inc.                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     99500 | PA      | $99570.65     | 0.15%             | 2029-01-31      | Variable      | 7.20%                 | No            |                  2 | On Loan: No      |
| JACOBS HOLDING AG                          | Cognita Ltd.                                                                                     | CUSIP: N/A<br>LEI: 894500YKKF2CXAP6DR25       | Long             | LON              | CORP              | GB        |    349125 | PA      | $349997.81    | 0.52%             | 2031-10-27      | Fixed         | 7.84%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                   | OBX Trust                                                                                        | CUSIP: 67120GAD0<br>LEI: 254900AIRPH5Q5COT575 | Long             | ABS-MBS          | CORP              | US        |     78105 | PA      | $78605.22     | 0.12%             | 2064-10-25      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENT/SIX FLAG                     | Six Flags Entertainment Corporation /Six Flags Theme Parks Incorporated/ Canada's Wonderland Co. | CUSIP: 83002YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $178292.28    | 0.26%             | 2032-05-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| MEIJI YASUDA LIFE INSURA                   | Meiji Yasuda Life Insurance Co.                                                                  | CUSIP: 585270AE1<br>LEI: 549300SLU4LP6YMRLK07 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $208092.80    | 0.31%             | 2055-06-11      | Variable      | 6.10%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International plc     | CURRENCY CONTRACT - Rec USD / Deliver EUR                                                        | CUSIP: N/A<br>LEI: 4PQUHN3JPFGFNF3BB653       | N/A              | DFE              |  | US        |    -12000 | NC      | $-14.56       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| TD SECURITIES (USA) LLC                    | TD Securities (USA) LLC                                                                          | CUSIP: N/A<br>LEI: SUVUFHICNZMP2WKHG940       | Short            | RA               | CORP              | US        |   -172452 | PA      | $-172452.05   | -0.26%            |  |  |  | No            |                  2 | On Loan: No      |
| DYNASTY PARENT HOLDINGS LP                 | StandardAero                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |     13674 | PA      | $13673.77     | 0.02%             | 2031-10-31      | Variable      | 6.16%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                           | UWM Holdings LLC                                                                                 | CUSIP: 903522AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $199047.47    | 0.29%             | 2031-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd             | Golub Capital Partners CLO 16M-R3                                                                | CUSIP: 38181EAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    150000 | PA      | $147557.60    | 0.22%             | 2039-08-09      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Military Housing B             | Freddie Mac Military Housing Bonds Resecuritization Trust Certificates                           | CUSIP: 35563CAK4<br>LEI: 549300ZG8WH0M4JSUM77 | Long             | ABS-MBS          | USGSE             | US        |    902499 | PA      | $51259.80     | 0.08%             | 2052-10-25      | Variable      | 0.70%                 | No            |                  2 | On Loan: No      |
| TEAM BLUE FINCO SARL                       | Team.Blue Finco SARL                                                                             | CUSIP: N/A<br>LEI: 549300DR8PIYMOZ4YU85       | Long             | LON              | CORP              | LU        |    450000 | PA      | $449158.50    | 0.67%             | 2032-07-12      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| VALEA FOUNDATION                           | Allwyn Entertainment Financing UK plc                                                            | CUSIP: N/A<br>LEI: 315700J7ZTIN8XGCX365       | Long             | DBT              | CORP              | GB        |    180000 | PA      | $222193.88    | 0.33%             | 2030-04-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Starwood Commercial Mortgage T             | STWD 2021-FL2 Ltd.                                                                               | CUSIP: 78486BAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    400000 | PA      | $399799.08    | 0.59%             | 2038-04-18      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                  | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | N/A              | DIR              |  | CA        |   -712500 | NC      | $-1016.26     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T             | EFMT                                                                                             | CUSIP: 26846VAA2<br>LEI: 254900CMJGXNT3R7H775 | Long             | ABS-MBS          | CORP              | US        |    137032 | PA      | $138681.03    | 0.21%             | 2060-01-25      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| NIPPON LIFE INSURANCE                      | Nippon Life Insurance Co.                                                                        | CUSIP: 654579AP6<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $215347.40    | 0.32%             | 2055-04-30      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| UBS AG                                     | Foreign Exchange USD/JPY                                                                         | CUSIP: N/A<br>LEI: BFM8T61CT2L1QCEMIK50       | N/A              | DFE              |  | US        |   -395000 | NC      | $-52.44       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                   | JP Morgan Mortgage Trust                                                                         | CUSIP: 465983AC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    122624 | PA      | $123512.85    | 0.18%             | 2064-02-25      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| LUX NEWCO                                  | Froneri US, Inc.                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     24875 | PA      | $24673.00     | 0.04%             | 2031-09-30      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC        | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: I7331LVCZKQKX5T7XV54       | N/A              | DIR              |  | US        |   -712500 | NC      | $-1818.67     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC                   | Encore Capital Group, Inc.                                                                       | CUSIP: 292554AS1<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |    450000 | PA      | $448690.46    | 0.66%             | 2031-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Switch ABS Issuer, LLC                     | Switch ABS Issuer LLC                                                                            | CUSIP: 871044AL7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $198143.30    | 0.29%             | 2055-03-25      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Anchor Mortgage Trust                      | Anchor Mortgage Trust                                                                            | CUSIP: 03290CAA4<br>LEI: 254900S7O2LYCU17JI96 | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $201002.10    | 0.30%             | 2040-05-25      | Variable      | 5.72%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | Foreign Exchange USD/JPY                                                                         | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | N/A              | DFE              |  | US        |    142000 | NC      | $1828.38      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FS Rialto Issuer Ltd                       | FS Rialto Issuer LLC                                                                             | CUSIP: 30338WAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100220.38    | 0.15%             | 2039-10-19      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO LLC                | Skechers                                                                                         | CUSIP: N/A<br>LEI: 254900F2FNX3GBTB6202       | Long             | LON              | CORP              | US        |    150000 | PA      | $150625.50    | 0.22%             | 2032-06-28      | Variable      | 7.31%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                | Southern Co.                                                                                     | CUSIP: 842587DJ3<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |     29000 | PA      | $28613.27     | 0.04%             | 2051-09-15      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                | 9-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |  -1080000 | NC      | $-3805.93     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| TERRAFORM GLOBAL OPERATI                   | Terraform Global Operating, LP                                                                   | CUSIP: 88104UAC7<br>LEI: 549300LC7QMVR79H5O86 | Long             | DBT              | CORP              | US        |     58000 | PA      | $57266.90     | 0.08%             | 2026-03-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CLI Funding LLC                            | CLI Funding IX LLC                                                                               | CUSIP: 12571WAG8<br>LEI: 2549008S2Z91ASJFZL83 | Long             | ABS-O            | CORP              | US        |    194917 | PA      | $197588.41    | 0.29%             | 2050-06-20      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus             | BRAVO Residential Funding Trust                                                                  | CUSIP: 10569MAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    132108 | PA      | $132886.57    | 0.20%             | 2064-12-25      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                 | Verus Securitization Trust                                                                       | CUSIP: 92540RAE4<br>LEI: 213800LFRCPWSTP6LX39 | Long             | ABS-MBS          | CORP              | US        |     89209 | PA      | $89730.85     | 0.13%             | 2069-11-25      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| QTS ISSUER ABS I LLC                       | QTS Issuer ABS I LLC                                                                             | CUSIP: 74690DAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $357471.49    | 0.53%             | 2055-05-25      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| KNIFE RIVER CORP                           | Knife River Corp.                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    149250 | PA      | $149390.30    | 0.22%             | 2032-03-08      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                | Oracle Corp.                                                                                     | CUSIP: 68389XDM4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    225000 | PA      | $226238.95    | 0.34%             | 2035-09-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                     | Sequoia Mortgage Trust                                                                           | CUSIP: 81749YAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     92831 | PA      | $93311.31     | 0.14%             | 2055-07-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                          | PRPM LLC                                                                                         | CUSIP: 69392PAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $400345.68    | 0.59%             | 2055-07-25      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| AMN HEALTHCARE INC                         | AMN Healthcare, Inc.                                                                             | CUSIP: 00175PAB9<br>LEI: 549300H27NUKBFFQEE84 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24990.00     | 0.04%             | 2027-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Altde Trust                                | ALTDE Trust                                                                                      | CUSIP: 00166NAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    240491 | PA      | $246126.00    | 0.36%             | 2050-08-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| GRAHAM HOLDINGS CO                         | Graham Holdings Co.                                                                              | CUSIP: 384637AA2<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24989.81     | 0.04%             | 2026-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                       | OneMain Finance Corp.                                                                            | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51393.55     | 0.08%             | 2029-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| BRP INC                                    | Bombardier Recreational Products, Inc.                                                           | CUSIP: N/A<br>LEI: 549300DZZJW11IMTMJ24       | Long             | LON              | CORP              | CA        |    350000 | PA      | $350220.50    | 0.52%             | 2031-01-22      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                   | OBX Trust                                                                                        | CUSIP: 67119PAB7<br>LEI: 254900W2SY2Z6X7UAX78 | Long             | ABS-MBS          | CORP              | US        |     74145 | PA      | $74266.35     | 0.11%             | 2064-06-25      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| HOMES Trust                                | HOMES Trust                                                                                      | CUSIP: 437920AE1<br>LEI: 254900GDF2MBHUV58Z95 | Long             | ABS-MBS          | CORP              | US        |     85147 | PA      | $85666.67     | 0.13%             | 2059-10-25      | Variable      | 5.98%                 | No            |                  2 | On Loan: No      |
| CAPSTONE ACQUISITION HOLDINGS INC          | Capstone Acquisition Holdings, Inc.                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      9126 | PA      | $9084.37      | 0.01%             | 2029-11-12      | Variable      | 8.76%                 | No            |                  3 | On Loan: No      |
| HERC HOLDINGS INC                          | Herc Holdings, Inc.                                                                              | CUSIP: N/A<br>LEI: 549300TP80QLITMSBP82       | Long             | LON              | CORP              | US        |    200000 | PA      | $200750.00    | 0.30%             | 2032-05-20      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| TARA TOPCO LTD                             | Ardonagh Midco 3 plc                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |     99750 | PA      | $99168.46     | 0.15%             | 2031-02-18      | Variable      | 6.94%                 | No            |                  2 | On Loan: No      |
| JCP Direct Lending CLO LLC                 | JCP Direct Lending CLO 2023-1 LLC                                                                | CUSIP: 46656TAU0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | JE        |   1000000 | PA      | $1003708.50   | 1.49%             | 2037-07-20      | Floating      | 6.11%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                   | Mill City Mortgage Loan Trust                                                                    | CUSIP: 59982HAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    120000 | PA      | $100899.38    | 0.15%             | 2060-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| GA GLOBAL FUNDING TRUST                    | GA Global Funding Trust                                                                          | CUSIP: 36143L2V6<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |    450000 | PA      | $446380.32    | 0.66%             | 2030-09-18      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AMERICO LIFE INC                           | Americo Life, Inc.                                                                               | CUSIP: 03060NAD2<br>LEI: 549300B5C1FRFHBYW144 | Long             | DBT              | CORP              | US        |    200000 | PA      | $180358.94    | 0.27%             | 2031-04-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| REINSURANCE GRP OF AMER                    | Reinsurance Group of America, Inc.                                                               | CUSIP: 759351AT6<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31490.73     | 0.05%             | 2055-09-15      | Variable      | 6.65%                 | No            |                  2 | On Loan: No      |
| Taco Bell Funding, LLC                     | Taco Bell Funding LLC                                                                            | CUSIP: 87342RAL8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $150355.95    | 0.22%             | 2055-08-25      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| PRIME PROPERTY FUND LLC                    | Prime Property Fund                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    300000 | PA      | $301505.73    | 0.45%             | 2035-07-15      | Fixed         | 5.81%                 | No            |                  3 | On Loan: No      |
| FIGRE Trust                                | FIGRE Trust                                                                                      | CUSIP: 31684FAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    120259 | PA      | $121575.26    | 0.18%             | 2054-10-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                  | 9-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | N/A              | DIR              |  | US        |   1080000 | NC      | $13630.09     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Hotwire Funding LLC                        | Hotwire Funding LLC                                                                              | CUSIP: 44148JAK5<br>LEI: 254900ZCO90MCT7Y9348 | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $153361.31    | 0.23%             | 2054-06-20      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                   | OBX Trust                                                                                        | CUSIP: 67120VAC9<br>LEI: 2549006BC0G3YEF5SL09 | Long             | ABS-MBS          | CORP              | US        |    214196 | PA      | $215686.94    | 0.32%             | 2064-11-25      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| GRANT THORNTON ADVISORS HOLDINGS LLC       | Grant Thornton Advisors LLC                                                                      | CUSIP: N/A<br>LEI: 254900XS1SHU0YY3WF58       | Long             | LON              | CORP              | US        |    199000 | PA      | $197644.81    | 0.29%             | 2031-06-02      | Variable      | 6.66%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                           | UWM Holdings LLC                                                                                 | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $152592.47    | 0.23%             | 2030-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                  | 9-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | N/A              | DIR              |  | US        |  -1080000 | NC      | $-3805.93     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Blue Stream Issuer, LLC                    | Blue Stream Issuer LLC                                                                           | CUSIP: 09606BAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $202282.92    | 0.30%             | 2054-11-20      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |   -712500 | NC      | $-2373.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                            | SBA Tower Trust                                                                                  | CUSIP: 78403DBD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50000 | PA      | $50322.97     | 0.07%             | 2029-10-15      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                   | Foundation Finance Trust                                                                         | CUSIP: 35040VAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     90476 | PA      | $90660.59     | 0.13%             | 2050-03-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC        | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: I7331LVCZKQKX5T7XV54       | N/A              | DIR              |  | US        |   -712500 | NC      | $-1189.94     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                   | Mill City Securities Ltd.                                                                        | CUSIP: 59982DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     74883 | PA      | $70577.19     | 0.10%             | 2069-08-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW BOOST HOLDCO LLC                       | Worldpay                                                                                         | CUSIP: N/A<br>LEI: 254900S8RE1OL7TTCU64       | Long             | LON              | CORP              | US        |    149250 | PA      | $149312.69    | 0.22%             | 2031-01-31      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                | Oracle Corp.                                                                                     | CUSIP: 68389XDR3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149538.57    | 0.22%             | 2055-09-26      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issu             | GreenSky Home Improvement Issuer Trust 2025-2                                                    | CUSIP: 39571VAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $353131.98    | 0.52%             | 2060-06-25      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES (USA) LLC                    | TD Securities (USA) LLC                                                                          | CUSIP: N/A<br>LEI: SUVUFHICNZMP2WKHG940       | Short            | RA               | CORP              | US        |    -51009 | PA      | $-51009.01    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                          | PRPM LLC                                                                                         | CUSIP: 69382YAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    348760 | PA      | $349266.13    | 0.52%             | 2030-08-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| PFP III                                    | PFP 2025-12 Ltd.                                                                                 | CUSIP: 69382JAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    400000 | PA      | $399391.20    | 0.59%             | 2042-12-18      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| UFC HOLDINGS LLC                           | TKO Group Holdings, Inc.                                                                         | CUSIP: N/A<br>LEI: 549300JEOTH7UMZ3C491       | Long             | LON              | CORP              | US        |    200000 | PA      | $200218.00    | 0.30%             | 2031-11-21      | Variable      | 6.04%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES (USA) LLC                    | TD Securities (USA) LLC                                                                          | CUSIP: N/A<br>LEI: SUVUFHICNZMP2WKHG940       | Short            | RA               | CORP              | US        |   -196910 | PA      | $-196910.28   | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| ASCOT GROUP LTD                            | Ascot Group Ltd.                                                                                 | CUSIP: 04365XAB4<br>LEI: 213800DJV7WRJBE2II28 | Long             | DBT              | CORP              | BM        |     50000 | PA      | $52117.91     | 0.08%             | 2035-06-15      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| Castlelake Aircraft Securitiza             | Castlelake Aircraft Structured Trust                                                             | CUSIP: 14856VAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    238555 | PA      | $242231.80    | 0.36%             | 2050-02-15      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| Apollo Aviation Securitization             | AASET Ltd.                                                                                       | CUSIP: 00038QAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    232499 | PA      | $237082.71    | 0.35%             | 2049-09-16      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus             | BRAVO Residential Funding Trust                                                                  | CUSIP: 10570QAE1<br>LEI: 25490082TY9NA9XBGW19 | Long             | ABS-MBS          | CORP              | US        |    227209 | PA      | $229307.13    | 0.34%             | 2065-02-25      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                          | PRPM LLC                                                                                         | CUSIP: 69382HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    186362 | PA      | $187038.68    | 0.28%             | 2030-05-25      | Variable      | 6.47%                 | No            |                  2 | On Loan: No      |
| BELRON FINANCE 2019 LLC                    | Belron Finance US LLC                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     59550 | PA      | $59810.83     | 0.09%             | 2031-10-16      | Variable      | 7.60%                 | No            |                  2 | On Loan: No      |
| DYNASTY PARENT HOLDINGS LP                 | StandardAero                                                                                     | CUSIP: N/A<br>LEI: 549300L1RCRPOAUCB870       | Long             | LON              | CORP              | US        |     35951 | PA      | $35948.75     | 0.05%             | 2031-10-31      | Variable      | 6.16%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                       | Cross Mortgage Trust                                                                             | CUSIP: 22758NAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    267764 | PA      | $269800.80    | 0.40%             | 2070-02-25      | Variable      | 5.99%                 | No            |                  2 | On Loan: No      |
| Bank of America, N.A.                      | Foreign Exchange EUR/USD                                                                         | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DFE              |  | US        |   1265000 | NC      | $2221.61      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ROCKET COS INC                             | Rocket Companies, Inc.                                                                           | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $51605.70     | 0.08%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| FARMERS INS EXCH                           | Farmers Insurance Exchange                                                                       | CUSIP: 309601AG7<br>LEI: 549300UWG2TLX1GZVT44 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20760.00     | 0.03%             | 2064-10-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                | Freddie Mac                                                                                      | CUSIP: 3137HMA67<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    238561 | PA      | $240851.15    | 0.36%             | 2053-04-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SIERRA PACIFIC POWER CO                    | Sierra Pacific Power Co.                                                                         | CUSIP: 826418BR5<br>LEI: QB888G5GSVGE1LD1WV84 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50044.45     | 0.07%             | 2055-12-15      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| WHITEWATER MATTERHORN HOLDINGS LLC         | Whitewater Matterhorn Holdings LLC                                                               | CUSIP: N/A<br>LEI: 2138009J7G187M6C4Q91       | Long             | LON              | CORP              | US        |    200000 | PA      | $199782.00    | 0.30%             | 2032-05-12      | Variable      | 6.31%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                | FIGRE Trust                                                                                      | CUSIP: 31684DAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    126641 | PA      | $127393.74    | 0.19%             | 2054-12-25      | Variable      | 5.97%                 | No            |                  2 | On Loan: No      |
| Vantage Data Centers LLC                   | Vantage Data Centers Issuer LLC                                                                  | CUSIP: 92212KAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100215.22    | 0.15%             | 2054-09-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| PACIFICORP                                 | PacifiCorp                                                                                       | CUSIP: 695114DF2<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52641.13     | 0.08%             | 2055-09-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| UBS AG                                     | Foreign Exchange USD/JPY                                                                         | CUSIP: N/A<br>LEI: BFM8T61CT2L1QCEMIK50       | N/A              | DFE              |  | US        |    395000 | NC      | $835.39       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UNITED AIRLINES HOLDINGS INC               | United Airlines, Inc.                                                                            | CUSIP: N/A<br>LEI: K1OQBWM7XEOO08LDNP29       | Long             | LON              | CORP              | US        |     49497 | PA      | $49580.15     | 0.07%             | 2031-02-22      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GF                       | American National Global Funding                                                                 | CUSIP: 02771D2B9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $61183.97     | 0.09%             | 2030-06-03      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GROUP                    | American National Group, Inc.                                                                    | CUSIP: 025676AR8<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128822.25    | 0.19%             | 2055-12-01      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| DOGWOOD TERM LOANS                         | Dogwood State Bank                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | US        |    399990 | PA      | $402281.86    | 0.60%             | 2032-06-24      | Fixed         | 6.45%                 | No            |                  3 | On Loan: No      |
| BNP Paribas                                | 1-Year/2-Year Interest Rate Swap                                                                 | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DIR              |  | FR        |   -997500 | NC      | $-2511.33     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                   | Rocket Mortgage LLC / Rocket Mortgage Company-Issuer, Inc.                                       | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $48976.46     | 0.07%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                  | Towd Point Mortgage Trust                                                                        | CUSIP: 89182FAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     55644 | PA      | $56509.33     | 0.08%             | 2063-10-25      | Variable      | 7.29%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                       | LHOME Mortgage Trust                                                                             | CUSIP: 50205WAA5<br>LEI: 529900ZQNJ23BIJVY871 | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100387.24    | 0.15%             | 2039-09-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                   | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.                                            | CUSIP: 983133AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25387.00     | 0.04%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus             | BRAVO Residential Funding Trust                                                                  | CUSIP: 10569PAA4<br>LEI: 254900AZU85EXAPTTF77 | Long             | ABS-MBS          | CORP              | US        |    139217 | PA      | $140510.19    | 0.21%             | 2055-02-25      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| Bank of America, N.A.                      | Foreign Exchange EUR/USD                                                                         | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DFE              |  | US        |    991000 | NC      | $1693.25      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC Capital Markets, LLC                   | RBC Capital Markets LLC                                                                          | CUSIP: N/A<br>LEI: 549300LCO2FLSSVFFR64       | Short            | RA               | CORP              | US        |    -44349 | PA      | $-44348.71    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | Foreign Exchange EUR/USD                                                                         | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | N/A              | DFE              |  | US        |    561000 | NC      | $958.54       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ARCLIGHT CAPITAL PARTNERS LLC              | AL GCX Holdings LLC                                                                              | CUSIP: N/A<br>LEI: 254900KQJGH397AKYT16       | Long             | LON              | CORP              | US        |    148872 | PA      | $148407.57    | 0.22%             | 2032-01-30      | Variable      | 6.22%                 | No            |                  2 | On Loan: No      |
| CITADEL SECURITIES GLOBA                   | Citadel Securities Global Holdings LLC                                                           | CUSIP: 17289RAB2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | DBT              | CORP              | US        |    250000 | PA      | $262618.86    | 0.39%             | 2035-06-18      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                              | Citigroup, Inc.                                                                                  | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EP               | CORP              | US        |    400000 | NS      | $412222.80    | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan              | New Residential Mortgage Loan Trust                                                              | CUSIP: 64832BAE5<br>LEI: 213800Z6O4V4V96AU133 | Long             | ABS-MBS          | CORP              | US        |     78543 | PA      | $78766.48     | 0.12%             | 2064-09-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| ALBION JVCO LTD                            | Albion Financing 1 SARL/Aggreko Holdings, Inc.                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | GB        |    100000 | PA      | $121814.01    | 0.18%             | 2030-05-21      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                  | Towd Point Mortgage Trust                                                                        | CUSIP: 89183GAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     85151 | PA      | $85304.72     | 0.13%             | 2064-10-27      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                   | OBX Trust                                                                                        | CUSIP: 67449DAC3<br>LEI: 254900YXEB756F6RCA13 | Long             | ABS-MBS          | CORP              | US        |     81520 | PA      | $81963.35     | 0.12%             | 2064-10-25      | Variable      | 5.72%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                | FIGRE Trust                                                                                      | CUSIP: 31684UAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     78515 | PA      | $78802.64     | 0.12%             | 2054-09-25      | Variable      | 5.06%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                       | Cross Mortgage Trust                                                                             | CUSIP: 22758PAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    227888 | PA      | $228801.26    | 0.34%             | 2070-03-25      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                             | Whirlpool Corp.                                                                                  | CUSIP: 963320AX4<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |     10000 | PA      | $7475.02      | 0.01%             | 2050-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issu             | GreenSky Home Improvement Issuer Trust                                                           | CUSIP: 39571XAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100981.61    | 0.15%             | 2059-10-27      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| Invitation Homes Trust                     | Invitation Homes Trust                                                                           | CUSIP: 46188DAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $97016.74     | 0.14%             | 2041-09-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GCAT                                       | GCAT Trust                                                                                       | CUSIP: 36831DAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    197667 | PA      | $201083.67    | 0.30%             | 2055-08-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Bank of America, N.A.                      | Foreign Exchange EUR/USD                                                                         | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DFE              |  | US        |     31000 | NC      | $0.09         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STREAM INNOVATIONS ISSUER TRUS             | Stream Innovations Issuer Trust                                                                  | CUSIP: 86324EAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     74411 | PA      | $75362.69     | 0.11%             | 2045-02-15      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| SSI ABS Issuer LLC                         | SSI Issuer LLC                                                                                   | CUSIP: 78475CAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     98552 | PA      | $99702.73     | 0.15%             | 2065-07-25      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Owl Rock CLO Ltd                           | Owl Rock CLO XIII LLC                                                                            | CUSIP: 69120GAA2<br>LEI: 254900P65RXI0LEC4D85 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101210.30    | 0.15%             | 2035-09-20      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust              | Citigroup Mortgage Loan Trust, Inc.                                                              | CUSIP: 17330VAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     73886 | PA      | $74087.80     | 0.11%             | 2062-09-25      | Variable      | 9.17%                 | No            |                  2 | On Loan: No      |
| Wingstop Funding LLC                       | Wingstop Funding LLC                                                                             | CUSIP: 974153AE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $103485.49    | 0.15%             | 2054-12-05      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| Fortress Credit BSL Limited                | Fortress Credit BSL XVI Ltd.                                                                     | CUSIP: 349927AQ6<br>LEI: 254900KG4E8W7Q68M916 | Long             | ABS-O            | CORP              | JE        |    250000 | PA      | $250402.53    | 0.37%             | 2035-10-20      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| ALBION JVCO LTD                            | Albion Financing 3 SARL                                                                          | CUSIP: N/A<br>LEI: 259400QTZA08U7DIP580       | Long             | LON              | CORP              | LU        |    100000 | PA      | $100188.00    | 0.15%             | 2031-05-01      | Variable      | 7.21%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                         | Subway Funding LLC                                                                               | CUSIP: 864300AL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     49625 | PA      | $49428.77     | 0.07%             | 2054-07-30      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                    | Darling Global Finance B.V.                                                                      | CUSIP: N/A<br>LEI: L1N0SPPKS7EXZYUMZ898       | Long             | DBT              | CORP              | US        |    100000 | PA      | $118556.51    | 0.18%             | 2032-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RECESS HOLDINGS INC                        | Recess Holdings, Inc.                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    199497 | PA      | $200068.05    | 0.30%             | 2030-02-20      | Variable      | 8.07%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                  | 1-Year/2-Year Interest Rate Swap                                                                 | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | N/A              | DIR              |  | US        |  -1140000 | NC      | $-2488.20     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | Foreign Exchange USD/JPY                                                                         | CUSIP: N/A<br>LEI: W22LROWP2IHZNBB6K528       | N/A              | DFE              |  | US        |     36000 | NC      | $76.14        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                      | PennyMac Financial Services, Inc.                                                                | CUSIP: 70932MAH0<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51004.30     | 0.08%             | 2034-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Bank of America, N.A.                      | Foreign Exchange EUR/USD                                                                         | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | N/A              | DFE              |  | US        |     71000 | NC      | $0.21         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Maps LTD                                   | MAPS Trust                                                                                       | CUSIP: 55292RAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    831844 | PA      | $795564.82    | 1.18%             | 2046-06-15      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| LERNEN US FINCO LLC                        | Cognita Ltd.                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     49626 | PA      | $49750.00     | 0.07%             | 2031-10-27      | Variable      | 7.87%                 | No            |                  2 | On Loan: No      |
| PACIFIC BELLS LLC                          | Pacific Bells LLC                                                                                | CUSIP: N/A<br>LEI: 549300VGOQXINYVBJF37       | Long             | LON              | CORP              | US        |     99229 | PA      | $99559.24     | 0.15%             | 2028-11-13      | Variable      | 7.75%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd             | Golub Capital Partners CLO 54M L.P                                                               | CUSIP: 38181GAA3<br>LEI: 2549007JA1TZWEDGPD41 | Long             | ABS-O            | CORP              | KY        |    500000 | PA      | $499991.70    | 0.74%             | 2037-08-05      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| DOW CHEMICAL CO/THE                        | Dow Chemical Co.                                                                                 | CUSIP: 260543DH3<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53422.18     | 0.08%             | 2053-05-15      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                | Foreign Exchange EUR/USD                                                                         | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DFE              |  | US        |      5000 | NC      | $0.01         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COLONIAL ENTERPRISES INC                   | Colonial Pipeline                                                                                | CUSIP: N/A<br>LEI: 549300Y8RLCD6IQXIT35       | Long             | LON              | CORP              | US        |    100000 | PA      | $99359.00     | 0.15%             | 2032-07-30      | Variable      | 6.06%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                     | Level 3 Financing, Inc.                                                                          | CUSIP: N/A<br>LEI: 254900AE5FEFIJOXWL19       | Long             | LON              | CORP              | US        |     70000 | PA      | $70000.00     | 0.10%             | 2032-03-29      | Variable      | 8.42%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                  | 6-Month/5-Year Interest Rate Swap                                                                | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | N/A              | DIR              |  | US        |   -712500 | NC      | $-2373.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CLARIOS INTERNATIONAL INC                  | Clarios Global, LP                                                                               | CUSIP: N/A<br>LEI: 549300474L1ZLXZY2P98       | Long             | LON              | CORP              | CA        |    150000 | PA      | $149953.50    | 0.22%             | 2032-01-28      | Variable      | 6.91%                 | No            |                  2 | On Loan: No      |
| BSPRT Issuer, Ltd.                         | BSPRT 2025-FL12 Issuer LLC                                                                       | CUSIP: 05619BAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $99707.60     | 0.15%             | 2043-01-17      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| LoanCore Issuer, Ltd.                      | LoanCore                                                                                         | CUSIP: 53947FAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $99359.75     | 0.15%             | 2042-08-17      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| HUNT COS INC                               | Hunt Companies, Inc.                                                                             | CUSIP: 445587AE8<br>LEI: 549300ODPWDNCH5TKM49 | Long             | DBT              | CORP              | US        |    195000 | PA      | $190114.29    | 0.28%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HLEND CLO LLC                              | Hlend CLO LLC                                                                                    | CUSIP: 403961AC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $249085.20    | 0.37%             | 2037-01-20      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                | RCKT Mortgage Trust                                                                              | CUSIP: 74942CAA7<br>LEI: 2549008EA2IHW9G2TZ48 | Long             | ABS-MBS          | CORP              | US        |   1425332 | PA      | $1444875.56   | 2.14%             | 2055-05-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| AS MILEAGE PLAN IP LTD                     | AS Mileage Plan IP Ltd.                                                                          | CUSIP: 00218QAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     50000 | PA      | $49768.76     | 0.07%             | 2031-10-20      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| Capital Automotive Reit                    | Capital Automotive REIT                                                                          | CUSIP: 12510HBA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     98750 | PA      | $94905.00     | 0.14%             | 2054-10-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| FLUTTER ENTERTAINMENT PLC                  | Flutter Entertainment plc                                                                        | CUSIP: N/A<br>LEI: 635400VFWPBIKJK6GN11       | Long             | LON              | CORP              | NL        |    100000 | PA      | $99806.00     | 0.15%             | 2032-06-04      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                           | Amwins Group, Inc.                                                                               | CUSIP: N/A<br>LEI: 549300SJE7MUB8NMRG61       | Long             | LON              | CORP              | US        |    148875 | PA      | $148776.74    | 0.22%             | 2032-01-30      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| PCI GAMING AUTHORITY                       | PCI Gaming Authority, Inc.                                                                       | CUSIP: N/A<br>LEI: 549300KPXAJ1LRW5LP59       | Long             | LON              | CORP              | US        |     29625 | PA      | $29548.57     | 0.04%             | 2031-07-18      | Variable      | 6.16%                 | No            |                  2 | On Loan: No      |
| PMT Loan Trust                             | PMT Loan Trust 2025-INV7                                                                         | CUSIP: 73015FAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    387997 | PA      | $394589.91    | 0.58%             | 2056-06-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| BRITISH TELECOMMUNICATIO                   | British Telecommunications plc                                                                   | CUSIP: 11102AAG6<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |    205000 | PA      | $196632.33    | 0.29%             | 2081-11-23      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| DELTA PARENT HOLDINGS INC                  | Kroll, Inc.                                                                                      | CUSIP: N/A<br>LEI: 549300FDREJLOIGXY104       | Short            | LON              | CORP              | US        |    -10000 | PA      | $-39.06       | -0.00%            | 2032-09-03      | Variable      | 1.00%                 | No            |                  3 | On Loan: No      |
| AMERICAN NATIONAL GROUP                    | American National Group, Inc.                                                                    | CUSIP: 025676859<br>LEI: 549300RK5RZQ740FPL83 | Long             | EP               | CORP              | US        |      1000 | NS      | $25110.00     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Finance of America HECM Buyout             | Finance of America HECM Buyout                                                                   | CUSIP: 31737DAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $99844.76     | 0.15%             | 2034-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| HOPE GAS HOLDINGS LLC                      | Hope Gas Holdings LLC                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    100000 | PA      | $100642.44    | 0.15%             | 2037-09-01      | Fixed         | 6.18%                 | No            |                  3 | On Loan: No      |
| Carrington Mortgage Loan Trust             | Carrington Mortgage Loan Trust Series                                                            | CUSIP: 144531DC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $376565.88    | 0.56%             | 2035-06-25      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Inc                 | Morgan Stanley ABS Capital I Incorporated Trust                                                  | CUSIP: 61753EAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    892267 | PA      | $408649.27    | 0.61%             | 2037-01-25      | Floating      | 4.48%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Guggenheim Funds Trust

**Signature:** James Howley

**Name of Signer:** James Howley

**Title:** CFO