# EDGAR Filing Document

**Accession Number:** 0000889169
**File Stem:** 0001752724-25-158913
**Filing Date:** 2025-6
**Character Count:** 220205
**Document Hash:** a95718ddf07cb61b802b7355a9be28c4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-158913.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001752724-25-158913

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BNY Mellon Investment Funds VII, Inc.
- **CENTRAL INDEX KEY:** 0000889169

**ORGANIZATION NAME:**
- **EIN:** 133868222
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06718
- **FILM NUMBER:** 251078335

**BUSINESS ADDRESS:**
- **STREET 1:** C/O BNY MELLON INVESTMENT ADVISER, INC.
- **STREET 2:** 240 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10286
- **BUSINESS PHONE:** 2129226400

**MAIL ADDRESS:**
- **STREET 1:** C/O BNY MELLON INVESTMENT ADVISER, INC.
- **STREET 2:** 240 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10286

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BNY Mellon Investment Grade Funds, Inc.
- **DATE OF NAME CHANGE:** 20190603

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Dreyfus Investment Grade Funds, Inc.
- **DATE OF NAME CHANGE:** 20110606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DREYFUS INVESTMENT GRADE FUNDS INC
- **DATE OF NAME CHANGE:** 20030826

## Series and Classes Contracts Data

### BNY Mellon Short Term Income Fund (Series ID: S000000297)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000000727 | Class D      | DSTIX           |
| C000236997 | Class Y      | BYSYX           |
| C000236998 | Class I      | BYSIX           |
| C000236999 | Class A      | BYSAX           |

## Nport-Ex

BNY Mellon Short Term Income Fund

STATEMENT OF INVESTMENTS

April 30, 2025 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

------

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| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>| Principal <br>Amount ($)<sup>(a)</sup> <br>| Value ($) |
| **Bonds and Notes — 95.5%** | **Bonds and Notes — 95.5%** | **Bonds and Notes — 95.5%** | **Bonds and Notes — 95.5%** | **Bonds and Notes — 95.5%** |
| **Advertising — .8%** | **Advertising — .8%** | **Advertising — .8%** | **Advertising — .8%** | **Advertising — .8%** |
| Clear Channel Outdoor Holdings, Inc., Sr. Scd. Notes<sup>(b)</sup> <br>| 5.13 | 8/15/2027 | 265000 | 257915 |
| Outfront Media Capital LLC/Outfront Media Capital Corp., Gtd. Notes<sup>(b)</sup> <br>| 5.00 | 8/15/2027 | 400000 | 392309 |
|  |  |  |  | **650224** |
| **Aerospace & Defense — 2.9%** | **Aerospace & Defense — 2.9%** | **Aerospace & Defense — 2.9%** | **Aerospace & Defense — 2.9%** | **Aerospace & Defense — 2.9%** |
| Bombardier, Inc., Sr. Unscd. Notes<sup>(b)</sup> <br>| 6.00 | 2/15/2028 | 225000 | 222737 |
| Rolls-Royce PLC, Gtd. Notes<sup>(b)</sup> <br>| 5.75 | 10/15/2027 | 470000 | 482438 |
| The Boeing Company, Sr. Unscd. Notes | 2.20 | 2/4/2026 | 786000 | 770253 |
| The Boeing Company, Sr. Unscd. Notes | 6.30 | 5/1/2029 | 576000 | 606067 |
| TransDigm, Inc., Sr. Scd. Notes<sup>(b)</sup> <br>| 6.75 | 8/15/2028 | 352000 | 359513 |
|  |  |  |  | **2441008** |
| **Airlines — 1.0%** | **Airlines — 1.0%** | **Airlines — 1.0%** | **Airlines — 1.0%** | **Airlines — 1.0%** |
| Air Canada, Sr. Scd. Notes<sup>(b)</sup> <br>| 3.88 | 8/15/2026 | 528000 | 518520 |
| Avianca Midco 2 PLC, Sr. Scd. Notes<sup>(b)</sup> <br>| 9.63 | 2/14/2030 | 400000 | 349752 |
|  |  |  |  | **868272** |
| **Asset-Backed Certificates — 10.6%** | **Asset-Backed Certificates — 10.6%** | **Asset-Backed Certificates — 10.6%** | **Asset-Backed Certificates — 10.6%** | **Asset-Backed Certificates — 10.6%** |
| Affirm Asset Securitization Trust, Ser. 2024-A, Cl. A<sup>(b)</sup> <br>| 5.61 | 2/15/2029 | 330000 | 331464 |
| AMSR Trust, Ser. 2023-SFR2, Cl. A<sup>(b)</sup> <br>| 3.95 | 6/17/2040 | 555000 | 542484 |
| Amur Equipment Finance Receivables XI LLC, Ser. 2022-2A, Cl. A2<sup>(b)</sup> <br>| 5.30 | 6/21/2028 | 27766 | 27811 |
| Auxilior Term Funding LLC, Ser. 2023-1A, Cl. A2<sup>(b)</sup> <br>| 6.18 | 12/15/2028 | 57327 | 57834 |
| Blue Owl Asset Leasing Trust LLC, Ser. 2024-1A, Cl. A2<sup>(b)</sup> <br>| 5.05 | 3/15/2029 | 88001 | 88192 |
| CF Hippolyta Issuer LLC, Ser. 2020-1, Cl. A1<sup>(b)</sup> <br>| 1.69 | 7/15/2060 | 346289 | 342075 |
| CF Hippolyta Issuer LLC, Ser. 2021-1A, Cl. A1<sup>(b)</sup> <br>| 1.53 | 3/15/2061 | 259173 | 246870 |
| CLI Funding VI LLC, Ser. 2020-1A, Cl. A<sup>(b)</sup> <br>| 2.08 | 9/18/2045 | 99142 | 91697 |
| CLI Funding VI LLC, Ser. 2020-3A, Cl. A<sup>(b)</sup> <br>| 2.07 | 10/18/2045 | 164667 | 152786 |
| ClickLease Equipment Receivables Trust, Ser. 2024-1, Cl. B<sup>(b)</sup> <br>| 7.34 | 2/15/2030 | 375000 | 377693 |
| CyrusOne Data Centers Issuer I LLC, Ser. 2023-1A, Cl. B<sup>(b)</sup> <br>| 5.45 | 4/20/2048 | 88442 | 86256 |
| CyrusOne Data Centers Issuer I LLC, Ser. 2025-1A, Cl. A2<sup>(b)</sup> <br>| 5.91 | 2/20/2050 | 65000 | 66482 |
| DataBank Issuer, Ser. 2021-1A, Cl. A2<sup>(b)</sup> <br>| 2.06 | 2/27/2051 | 300000 | 291918 |
| DataBank Issuer, Ser. 2021-2A, Cl. A2<sup>(b)</sup> <br>| 2.40 | 10/25/2051 | 350000 | 333295 |
| DataBank Issuer, Ser. 2023-1A, Cl. A2<sup>(b)</sup> <br>| 5.12 | 2/25/2053 | 270000 | 264496 |
| Dell Equipment Finance Trust, Ser. 2023-1, Cl. A3<sup>(b)</sup> <br>| 5.65 | 9/22/2028 | 154488 | 154937 |
| Domino's Pizza Master Issuer LLC, Ser. 2021-1A, Cl. A2I<sup>(b)</sup> <br>| 2.66 | 4/25/2051 | 277163 | 258498 |
| Flexential Issuer, Ser. 2021-1A, Cl. A2<sup>(b)</sup> <br>| 3.25 | 11/27/2051 | 305000 | 291094 |
| GreenSky Home Improvement Issuer Trust, Ser. 2024-2, Cl. A4<sup>(b)</sup> <br>| 5.15 | 10/27/2059 | 79147 | 79581 |
| GreenSky Home Improvement Trust, Ser. 2024-1, Cl. A4<sup>(b)</sup> <br>| 5.67 | 6/25/2059 | 182528 | 185413 |
| Hilton Grand Vacations Trust, Ser. 2022-2A, Cl. A<sup>(b)</sup> <br>| 4.30 | 1/25/2037 | 41482 | 41287 |
| MetroNet Infrastructure Issuer LLC, Ser. 2024-1A, Cl. A2<sup>(b)</sup> <br>| 6.23 | 4/20/2054 | 25000 | 25714 |
| MVW LLC, Ser. 2020-1A, Cl. A<sup>(b)</sup> <br>| 1.74 | 10/20/2037 | 38847 | 37602 |
| New Economy Assets Phase 1 Sponsor LLC, Ser. 2021-1, Cl. A1<sup>(b)</sup> <br>| 1.91 | 10/20/2061 | 1125000 | 1057360 |
| OneMain Financial Issuance Trust, Ser. 2020-2A, Cl. A<sup>(b)</sup> <br>| 1.75 | 9/14/2035 | 350000 | 339656 |
| Regional Management Issuance Trust, Ser. 2024-1, Cl. A<sup>(b)</sup> <br>| 5.83 | 7/15/2036 | 100000 | 102547 |
| Regional Management Issuance Trust, Ser. 2024-2, Cl. A<sup>(b)</sup> <br>| 5.11 | 12/15/2033 | 100000 | 100783 |
| SCF Equipment Trust LLC, Ser. 2025-1A, Cl. A3<sup>(b)</sup> <br>| 5.11 | 11/21/2033 | 100000 | 101920 |
| Textainer Marine Containers VII Ltd., Ser. 2020-2A, Cl. A<sup>(b)</sup> <br>| 2.10 | 9/20/2045 | 322426 | 301244 |
| Textainer Marine Containers VII Ltd., Ser. 2021-1A, Cl. A<sup>(b)</sup> <br>| 1.68 | 2/20/2046 | 233333 | 213799 |
| Tricon American Homes Trust, Ser. 2019-SFR1, Cl. A<sup>(b)</sup> <br>| 2.75 | 3/17/2038 | 319552 | 315322 |
| Trinity Rail Leasing LLC, Ser. 2020-2A, Cl. A1<sup>(b)</sup> <br>| 1.83 | 11/19/2050 | 96762 | 92634 |

---

**3**

------

*STATEMENT OF INVESTMENTS (Unaudited) (continued)*

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** |
| **Asset-Backed Certificates — 10.6% (continued)** | **Asset-Backed Certificates — 10.6% (continued)** | **Asset-Backed Certificates — 10.6% (continued)** | **Asset-Backed Certificates — 10.6% (continued)** | **Asset-Backed Certificates — 10.6% (continued)** |
| Triumph Rail Holdings LLC, Ser. 2021-2, Cl. A<sup>(b)</sup> <br>| 2.15 | 6/19/2051 | 263632 | 247844 |
| TRP LLC, Ser. 2021-1, Cl. A<sup>(b)</sup> <br>| 2.07 | 6/19/2051 | 263627 | 249210 |
| Vantage Data Centers Issuer LLC, Ser. 2021-1A, Cl. A2<sup>(b)</sup> <br>| 2.17 | 10/15/2046 | 250000 | 239489 |
| Vantage Data Centers LLC, Ser. 2020-2A, Cl. A2<sup>(b)</sup> <br>| 1.99 | 9/15/2045 | 414000 | 385617 |
| Verizon Master Trust, Ser. 2024-1, Cl. C | 5.49 | 12/20/2028 | 386000 | 387322 |
| Verizon Master Trust, Ser. 2025-1, Cl. C | 5.09 | 1/21/2031 | 146000 | 147587 |
| Volvo Financial Equipment LLC, Ser. 2024-1A, Cl. A3<sup>(b)</sup> <br>| 4.29 | 10/16/2028 | 147000 | 146961 |
| Wingspire Equipment Finance LLC, Ser. 2024-1A, Cl. A2<sup>(b)</sup> <br>| 4.99 | 9/20/2032 | 160000 | 160228 |
|  |  |  |  | **8965002** |
| **Asset-Backed Certificates/Auto Receivables — 12.8%** | **Asset-Backed Certificates/Auto Receivables — 12.8%** | **Asset-Backed Certificates/Auto Receivables — 12.8%** | **Asset-Backed Certificates/Auto Receivables — 12.8%** | **Asset-Backed Certificates/Auto Receivables — 12.8%** |
| Ally Auto Receivables Trust, Ser. 2024-1, Cl. A3 | 5.08 | 12/15/2028 | 172000 | 173162 |
| American Credit Acceptance Receivables Trust, Ser. 2024-4, Cl. C<sup>(b)</sup> <br>| 4.91 | 8/12/2031 | 316000 | 314901 |
| AmeriCredit Automobile Receivables Trust, Ser. 2022-2, Cl. B | 4.81 | 4/18/2028 | 214000 | 213862 |
| AmeriCredit Automobile Receivables Trust, Ser. 2023-2, Cl. A2 | 6.19 | 4/19/2027 | 65327 | 65486 |
| Avis Budget Rental Car Funding AESOP LLC, Ser. 2020-1A, Cl. A<sup>(b)</sup> <br>| 2.33 | 8/20/2026 | 160000 | 159293 |
| Avis Budget Rental Car Funding AESOP LLC, Ser. 2023-3A, Cl. A<sup>(b)</sup> <br>| 5.44 | 2/22/2028 | 385000 | 390164 |
| Bayview Opportunity Master Fund VII Trust, Ser. 2024-SN1, Cl. C<sup>(b)</sup> <br>| 5.83 | 12/15/2028 | 59000 | 59906 |
| Capital One Prime Auto Receivables Trust, Ser. 2022-2, Cl. A3 | 3.66 | 5/17/2027 | 144891 | 144229 |
| CarMax Auto Owner Trust, Ser. 2021-3, Cl. C | 1.25 | 5/17/2027 | 500000 | 491636 |
| Carvana Auto Receivables Trust, Ser. 2020-P1, Cl. C | 1.32 | 11/9/2026 | 425000 | 417580 |
| Carvana Auto Receivables Trust, Ser. 2021-N1, Cl. C | 1.30 | 1/10/2028 | 119590 | 116528 |
| Carvana Auto Receivables Trust, Ser. 2021-N2, Cl. C | 1.07 | 3/10/2028 | 54487 | 52751 |
| Carvana Auto Receivables Trust, Ser. 2021-P1, Cl. B | 1.19 | 1/11/2027 | 230000 | 226053 |
| Carvana Auto Receivables Trust, Ser. 2021-P4, Cl. B | 1.98 | 2/10/2028 | 125000 | 119870 |
| Carvana Auto Receivables Trust, Ser. 2022-P3, Cl. C | 5.54 | 11/10/2028 | 238000 | 242249 |
| Chesapeake Funding II LLC, Ser. 2023-2A, Cl. A1<sup>(b)</sup> <br>| 6.16 | 10/15/2035 | 56306 | 57118 |
| Citizens Auto Receivables Trust, Ser. 2023-2, Cl. A2A<sup>(b)</sup> <br>| 6.09 | 10/15/2026 | 11449 | 11459 |
| Citizens Auto Receivables Trust, Ser. 2024-1, Cl. A3<sup>(b)</sup> <br>| 5.11 | 4/17/2028 | 101000 | 101602 |
| Enterprise Fleet Financing LLC, Ser. 2022-3, Cl. A2<sup>(b)</sup> <br>| 4.38 | 7/20/2029 | 25934 | 25897 |
| Enterprise Fleet Financing LLC, Ser. 2025-2, Cl. A3<sup>(b)</sup> <br>| 4.41 | 6/20/2029 | 73000 | 73074 |
| Exeter Automobile Receivables Trust, Ser. 2023-4A, Cl. B | 6.31 | 10/15/2027 | 130059 | 130405 |
| Exeter Automobile Receivables Trust, Ser. 2024-3A, Cl. C | 5.70 | 7/16/2029 | 81000 | 82139 |
| Exeter Automobile Receivables Trust, Ser. 2024-5A, Cl. A3 | 4.45 | 3/15/2028 | 51000 | 50911 |
| Exeter Automobile Receivables Trust, Ser. 2025-1A, Cl. C | 5.09 | 5/15/2031 | 436000 | 439301 |
| Ford Auto Securitization Trust II, Ser. 2022-AA, Cl. A3<sup>(b)</sup> <br>CAD | 5.40 | 9/15/2028 | 626000 | 466122 |
| Ford Credit Auto Owner Trust, Ser. 2020-2, Cl. B<sup>(b)</sup> <br>| 1.49 | 4/15/2033 | 375000 | 369297 |
| Ford Credit Auto Owner Trust, Ser. 2021-1, Cl. C<sup>(b)</sup> <br>| 1.91 | 10/17/2033 | 202000 | 196092 |
| Ford Credit Auto Owner Trust, Ser. 2022-C, Cl. C | 5.22 | 3/15/2030 | 325000 | 327386 |
| GM Financial Consumer Automobile Receivables Trust, Ser. 2022-1, Cl. C | 1.94 | 4/17/2028 | 170000 | 166383 |
| Hyundai Auto Receivables Trust, Ser. 2022-C, Cl. A4 | 5.52 | 10/16/2028 | 333000 | 336913 |
| M&T Bank Auto Receivables Trust, Ser. 2024-1A, Cl. A3<sup>(b)</sup> <br>| 5.22 | 2/17/2032 | 287000 | 290944 |
| Merchants Fleet Funding LLC, Ser. 2024-1A, Cl. D<sup>(b)</sup> <br>| 6.85 | 4/20/2037 | 150000 | 152372 |
| Octane Receivables Trust, Ser. 2024-3A, Cl. A2<sup>(b)</sup> <br>| 4.94 | 5/20/2030 | 100000 | 100406 |
| Octane Receivables Trust, Ser. 2023-1A, Cl. B<sup>(b)</sup> <br>| 5.96 | 7/20/2029 | 300000 | 302612 |
| Octane Receivables Trust, Ser. 2023-3A, Cl. A2<sup>(b)</sup> <br>| 6.44 | 3/20/2029 | 121520 | 122543 |
| OneMain Direct Auto Receivables Trust, Ser. 2019-1A, Cl. B<sup>(b)</sup> <br>| 3.95 | 11/14/2028 | 400000 | 397154 |
| OSCAR US Funding XIII LLC, Ser. 2021-2A, Cl. A4<sup>(b)</sup> <br>| 1.27 | 9/11/2028 | 312366 | 307771 |
| OSCAR US Funding XVI LLC, Ser. 2024-1A, Cl. A3<sup>(b)</sup> <br>| 5.54 | 2/10/2028 | 143000 | 144759 |
| PenFed Auto Receivables Owner Trust, Ser. 2022-A, Cl. C<sup>(b)</sup> <br>| 4.83 | 12/15/2028 | 1000000 | 1000721 |
| Santander Drive Auto Receivables Trust, Ser. 2022-5, Cl. C | 4.74 | 10/16/2028 | 283044 | 283003 |

---

**4**

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| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** |
| **Asset-Backed Certificates/Auto Receivables — 12.8% (continued)** | **Asset-Backed Certificates/Auto Receivables — 12.8% (continued)** | **Asset-Backed Certificates/Auto Receivables — 12.8% (continued)** | **Asset-Backed Certificates/Auto Receivables — 12.8% (continued)** | **Asset-Backed Certificates/Auto Receivables — 12.8% (continued)** |
| Santander Drive Auto Receivables Trust, Ser. 2024-1, Cl. B | 5.23 | 12/15/2028 | 67000 | 67368 |
| Santander Drive Auto Receivables Trust, Ser. 2025-1, Cl. C | 5.04 | 3/17/2031 | 165000 | 166776 |
| Santander Drive Auto Receivables Trust, Ser. 2025-2, Cl. C | 5.06 | 5/15/2031 | 224000 | 226226 |
| Securitized Term Auto Receivables Trust, Ser. 2025-A, Cl. C<sup>(b)</sup> <br>| 5.19 | 7/25/2031 | 191520 | 192926 |
| SFS Auto Receivables Securitization Trust, Ser. 2023-1A, Cl. A2A<sup>(b)</sup> <br>| 5.89 | 3/22/2027 | 2644 | 2646 |
| SFS Auto Receivables Securitization Trust, Ser. 2023-1A, Cl. A3<sup>(b)</sup> <br>| 5.47 | 10/20/2028 | 205000 | 206580 |
| SFS Auto Receivables Securitization Trust, Ser. 2024-1A, Cl. A3<sup>(b)</sup> <br>| 4.95 | 5/21/2029 | 78000 | 78496 |
| Tesla Electric Vehicle Trust, Ser. 2023-1, Cl. A3<sup>(b)</sup> <br>| 5.38 | 6/20/2028 | 87000 | 87900 |
| Toyota Auto Receivables Owner Trust, Ser. 2022-D, Cl. A3 | 5.30 | 9/15/2027 | 367855 | 369468 |
| US Bank NA, Ser. 2023-1, Cl. B<sup>(b)</sup> <br>| 6.79 | 8/25/2032 | 103211 | 104582 |
| World Omni Auto Receivables Trust, Ser. 2023-A, Cl. A3 | 4.83 | 5/15/2028 | 75308 | 75306 |
| World Omni Auto Receivables Trust, Ser. 2024-C, Cl. A3 | 4.43 | 12/17/2029 | 130000 | 130602 |
|  |  |  |  | **10832930** |
| **Asset-Backed Certificates/Credit Cards — .2%** | **Asset-Backed Certificates/Credit Cards — .2%** | **Asset-Backed Certificates/Credit Cards — .2%** | **Asset-Backed Certificates/Credit Cards — .2%** | **Asset-Backed Certificates/Credit Cards — .2%** |
| Evergreen Credit Card Trust, Ser. 2025-CRT5, Cl. B<sup>(b)</sup> <br>| 5.24 | 5/15/2029 | 100000 | 101333 |
| Synchrony Card Funding LLC, Ser. 2023-A1, Cl. A | 5.54 | 7/15/2029 | 47000 | 47670 |
|  |  |  |  | **149003** |
| **Asset-Backed Certificates/Home Equity Loans — .6%** | **Asset-Backed Certificates/Home Equity Loans — .6%** | **Asset-Backed Certificates/Home Equity Loans — .6%** | **Asset-Backed Certificates/Home Equity Loans — .6%** | **Asset-Backed Certificates/Home Equity Loans — .6%** |
| &nbsp;&nbsp;&nbsp; GS Mortgage-Backed Securities Trust, Ser. 2024-HE1, Cl. A1, (1 Month SOFR <br> +1.60%)<sup>(b),(c)</sup> <br>| 5.95 | 8/25/2054 | 283271 | 283175 |
| RCKT Mortgage Trust, Ser. 2024-CES2, Cl. A1B<sup>(b)</sup> <br>| 6.29 | 4/25/2044 | 231276 | 233379 |
|  |  |  |  | **516554** |
| **Automobiles & Components — 3.1%** | **Automobiles & Components — 3.1%** | **Automobiles & Components — 3.1%** | **Automobiles & Components — 3.1%** | **Automobiles & Components — 3.1%** |
| Clarios Global LP/Clarios US Finance Co., Sr. Scd. Notes<sup>(b)</sup> <br>| 6.25 | 5/15/2026 | 134000 | 134545 |
| Clarios Global LP/Clarios US Finance Co., Sr. Scd. Notes<sup>(b),(d)</sup> <br>| 6.75 | 2/15/2030 | 55000 | 56007 |
| Ford Motor Credit Co. LLC, Sr. Unscd. Notes | 4.54 | 8/1/2026 | 500000 | 492064 |
| Ford Motor Credit Co. LLC, Sr. Unscd. Notes | 5.80 | 3/5/2027 | 275000 | 273524 |
| Ford Motor Credit Co. LLC, Sr. Unscd. Notes | 5.92 | 3/20/2028 | 230000 | 228702 |
| General Motors Financial Co., Inc., Gtd. Notes | 3.85 | 1/5/2028 | 400000 | 388333 |
| General Motors Financial Co., Inc., Sr. Unscd. Notes | 5.05 | 4/4/2028 | 436000 | 437178 |
| Tenneco, Inc., Sr. Scd. Notes<sup>(b)</sup> <br>| 8.00 | 11/17/2028 | 220000 | 210386 |
| The Goodyear Tire & Rubber Company, Gtd. Notes | 5.00 | 5/31/2026 | 435000 | 433279 |
|  |  |  |  | **2654018** |
| **Banks — 6.2%** | **Banks — 6.2%** | **Banks — 6.2%** | **Banks — 6.2%** | **Banks — 6.2%** |
| Bank of America Corp., Sub. Notes, Ser. L | 4.18 | 11/25/2027 | 450000 | 447724 |
| BNP Paribas SA, Sub. Notes | 4.63 | 3/13/2027 | 325000 | 324260 |
| Citigroup, Inc., Jr. Sub. Notes, Ser. W<sup>(e)</sup> <br>| 4.00 | 12/10/2025 | 363000 | 355887 |
| Citizens Financial Group, Inc., Sr. Unscd. Notes | 5.84 | 1/23/2030 | 213000 | 218093 |
| Huntington Bancshares, Inc., Sr. Unscd. Notes | 5.27 | 1/15/2031 | 276000 | 278163 |
| Morgan Stanley, Sr. Unscd. Notes | 5.12 | 2/1/2029 | 462000 | 469405 |
| Morgan Stanley, Sub. Notes | 3.95 | 4/23/2027 | 310000 | 307614 |
| Santander Holdings USA, Inc., Sr. Unscd. Notes | 6.50 | 3/9/2029 | 339000 | 351659 |
| State Street Corp., Jr. Sub. Notes, Ser. I<sup>(d),(e)</sup> <br>| 6.70 | 3/15/2029 | 236000 | 237423 |
| The Goldman Sachs Group, Inc., Jr. Sub. Notes, Ser. T<sup>(d),(e)</sup> <br>| 3.80 | 5/10/2026 | 350000 | 338240 |
| The Goldman Sachs Group, Inc., Sr. Unscd. Notes | 4.94 | 4/23/2028 | 420000 | 423946 |
| Truist Bank, Sub. Notes | 4.63 | 9/17/2029 | 450000 | 440613 |
| UBS Group AG, Sr. Unscd. Notes<sup>(b)</sup> <br>| 6.37 | 7/15/2026 | 350000 | 351007 |
| Wells Fargo & Co., Jr. Sub. Notes, Ser. BB<sup>(e)</sup> <br>| 3.90 | 3/15/2026 | 300000 | 294837 |
| Wells Fargo & Co., Sr. Unscd. Notes | 4.97 | 4/23/2029 | 418000 | 423341 |
|  |  |  |  | **5262212** |

---

**5**

------

*STATEMENT OF INVESTMENTS (Unaudited) (continued)*

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** |
| **Building Materials — .3%** | **Building Materials — .3%** | **Building Materials — .3%** | **Building Materials — .3%** | **Building Materials — .3%** |
| Smyrna Ready Mix Concrete LLC, Sr. Scd. Notes<sup>(b)</sup> <br>| 6.00 | 11/1/2028 | 300000 | **293458** |
| **Chemicals — 1.7%** | **Chemicals — 1.7%** | **Chemicals — 1.7%** | **Chemicals — 1.7%** | **Chemicals — 1.7%** |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, Gtd. <br> Notes<sup>(b)</sup> <br>| 4.75 | 6/15/2027 | 350000 | 345915 |
| Braskem Netherlands Finance BV, Gtd. Notes<sup>(b)</sup> <br>| 4.50 | 1/10/2028 | 500000 | 450091 |
| Celanese US Holdings LLC, Gtd. Notes<sup>(d)</sup> <br>| 6.42 | 7/15/2027 | 128000 | 129152 |
| EQUATE Petrochemical Co. KSC, Gtd. Notes | 5.00 | 5/18/2025 | 300000 | 300053 |
| SNF Group SACA, Sr. Unscd. Notes<sup>(b)</sup> <br>| 3.13 | 3/15/2027 | 250000 | 237439 |
|  |  |  |  | **1462650** |
| **Collateralized Loan Obligations Debt — 5.4%** | **Collateralized Loan Obligations Debt — 5.4%** | **Collateralized Loan Obligations Debt — 5.4%** | **Collateralized Loan Obligations Debt — 5.4%** | **Collateralized Loan Obligations Debt — 5.4%** |
| Antares Ltd. CLO, Ser. 2020-1A, Cl. A1R, (3 Month TSFR +1.72%)<sup>(b),(c)</sup> <br>| 6.00 | 10/23/2033 | 350000 | 350437 |
| Apidos XXV CLO, Ser. 2016-25A, Cl. XR3, (3 Month TSFR +0.95%)<sup>(b),(c)</sup> <br>| 5.22 | 1/20/2037 | 250000 | 250124 |
| &nbsp;&nbsp;&nbsp; Arbor Realty Commercial Real Estate Notes Ltd. CLO, Ser. 2021-FL4, Cl. A, <br> (1 Month TSFR +1.46%)<sup>(b),(c)</sup> <br>| 5.79 | 11/15/2036 | 263166 | 263205 |
| &nbsp;&nbsp;&nbsp; Bain Capital Credit Ltd. CLO, Ser. 2020-3A, Cl. A1RR, (3 Month TSFR <br> +1.21%)<sup>(b),(c)</sup> <br>| 5.49 | 10/23/2034 | 350000 | 348608 |
| Ballyrock Ltd. CLO, Ser. 2020-2A, Cl. A1R, (3 Month TSFR +1.27%)<sup>(b),(c)</sup> <br>| 5.54 | 10/20/2031 | 194607 | 194662 |
| Dryden 108 Ltd. CLO, Ser. 2022-108A, Cl. X, (3 Month TSFR +1.15%)<sup>(b),(c)</sup> <br>| 5.42 | 7/18/2037 | 223684 | 223686 |
| &nbsp;&nbsp;&nbsp; Dryden 41 Senior Loan Fund CLO, Ser. 2015-41A, Cl. AR, (3 Month TSFR <br> +1.23%)<sup>(b),(c)</sup> <br>| 5.49 | 4/15/2031 | 95549 | 95573 |
| &nbsp;&nbsp;&nbsp; Fortress Credit Opportunities XXXI Ltd. CLO, Ser. 2025-31A, Cl. A1, (3 Month <br> TSFR +1.50%)<sup>(b),(c)</sup> <br>| 0.00 | 7/20/2033 | 300000 | 299246 |
| &nbsp;&nbsp;&nbsp; Goldentree Loan Management US 14 Ltd. CLO, Ser. 2022-14A, Cl. XR, (3 Month <br> TSFR +0.90%)<sup>(b),(c)</sup> <br>| 5.17 | 7/20/2037 | 187500 | 187560 |
| Magnetite XIX Ltd., Ser. 2017-19A, Cl. ARR, (3 Month TSFR +1.05%)<sup>(b),(c)</sup> <br>| 5.33 | 4/17/2034 | 325000 | 323411 |
| MF1 Ltd. CLO, Ser. 2021-FL7, Cl. AS, (1 Month TSFR +1.56%)<sup>(b),(c)</sup> <br>| 5.88 | 10/16/2036 | 500000 | 493671 |
| MF1 Ltd. CLO, Ser. 2022-FL8, Cl. AS, (1 Month TSFR +1.75%)<sup>(b),(c)</sup> <br>| 6.07 | 2/19/2037 | 375000 | 373830 |
| &nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers 40 Ltd. CLO, Ser. 2021-40A, Cl. B, (3 Month <br> TSFR +1.66%)<sup>(b),(c)</sup> <br>| 5.92 | 4/16/2033 | 400000 | 400450 |
| RIN IV Ltd. CLO, Ser. 2021-1A, Cl. A, (3 Month TSFR +1.56%)<sup>(b),(c)</sup> <br>| 5.83 | 4/20/2033 | 250000 | 250071 |
| Symphony XV Ltd. CLO, Ser. 2014-15A, Cl. BR3, (3 Month TSFR +1.81%)<sup>(b),(c)</sup> <br>| 6.09 | 1/17/2032 | 550000 | 550416 |
|  |  |  |  | **4604950** |
| **Commercial & Professional Services — 1.1%** | **Commercial & Professional Services — 1.1%** | **Commercial & Professional Services — 1.1%** | **Commercial & Professional Services — 1.1%** | **Commercial & Professional Services — 1.1%** |
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., Gtd. Notes<sup>(b)</sup> <br>| 5.75 | 7/15/2027 | 300000 | 291822 |
| Herc Holdings, Inc., Gtd. Notes<sup>(b),(d)</sup> <br>| 6.63 | 6/15/2029 | 415000 | 410463 |
| Williams Scotsman, Inc., Sr. Scd. Notes<sup>(b)</sup> <br>| 6.63 | 6/15/2029 | 192000 | 194775 |
|  |  |  |  | **897060** |
| **Commercial Mortgage Pass-Through Certificates — 5.7%** | **Commercial Mortgage Pass-Through Certificates — 5.7%** | **Commercial Mortgage Pass-Through Certificates — 5.7%** | **Commercial Mortgage Pass-Through Certificates — 5.7%** | **Commercial Mortgage Pass-Through Certificates — 5.7%** |
| Angel Oak Mortgage Trust, Ser. 2024-3, Cl. A2<sup>(b)</sup> <br>| 4.80 | 11/26/2068 | 43694 | 43232 |
| BANK5 Trust, Ser. 2024-5YR12, Cl. A2 | 5.42 | 12/15/2057 | 428000 | 440348 |
| BRAVO Residential Funding Trust, Ser. 2023-NQM5, Cl. A2<sup>(b)</sup> <br>| 6.86 | 6/25/2063 | 102906 | 104009 |
| &nbsp;&nbsp;&nbsp; BSREP Commercial Mortgage Trust, Ser. 2021-DC, Cl. C, (1 Month TSFR <br> +1.66%)<sup>(b),(c)</sup> <br>| 5.99 | 8/15/2038 | 426060 | 355228 |
| BXHPP Trust, Ser. 2021-FILM, Cl. B, (1 Month TSFR +1.01%)<sup>(b),(c)</sup> <br>| 5.34 | 8/15/2036 | 450000 | 413900 |
| Citigroup Commercial Mortgage Trust, Ser. 2014-GC25, Cl. B | 4.35 | 10/10/2047 | 102759 | 99650 |
| COLT Mortgage Loan Trust, Ser. 2023-3, Cl. A2<sup>(b)</sup> <br>| 7.43 | 9/25/2068 | 98908 | 100477 |
| COLT Mortgage Loan Trust, Ser. 2025-3, Cl. A1<sup>(b)</sup> <br>| 5.35 | 3/25/2070 | 98429 | 98394 |
| Cross Mortgage Trust, Ser. 2024-H2, Cl. A2<sup>(b)</sup> <br>| 6.42 | 4/25/2069 | 39168 | 39537 |
| Cross Mortgage Trust, Ser. 2024-H2, Cl. A3<sup>(b)</sup> <br>| 6.52 | 4/25/2069 | 39168 | 39490 |
| Cross Mortgage Trust, Ser. 2024-H3, Cl. A2<sup>(b)</sup> <br>| 6.58 | 6/25/2069 | 134690 | 136301 |
| Cross Mortgage Trust, Ser. 2025-H2, Cl. A1<sup>(b)</sup> <br>| 5.36 | 3/25/2070 | 98886 | 99028 |

---

**6**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** |
| **Commercial Mortgage Pass-Through Certificates — 5.7% (continued)** | **Commercial Mortgage Pass-Through Certificates — 5.7% (continued)** | **Commercial Mortgage Pass-Through Certificates — 5.7% (continued)** | **Commercial Mortgage Pass-Through Certificates — 5.7% (continued)** | **Commercial Mortgage Pass-Through Certificates — 5.7% (continued)** |
| Cross Mortgage Trust, Ser. 2025-H2, Cl. A2<sup>(b)</sup> <br>| 5.46 | 3/25/2070 | 114707 | 114873 |
| Hudson Yards Mortgage Trust, Ser. 2025-SPRL, Cl. C<sup>(b)</sup> <br>| 6.15 | 1/13/2040 | 100000 | 102903 |
| Imperial Fund Mortgage Trust, Ser. 2023-NQM1, Cl. A3<sup>(b)</sup> <br>| 7.16 | 2/25/2068 | 323255 | 325041 |
| JPMBB Commercial Mortgage Securities Trust, Ser. 2015-C30, Cl. A4 | 3.55 | 7/15/2048 | 60650 | 60468 |
| JPMorgan Mortgage Trust, Ser. 2024-CES1, Cl. A1B<sup>(b)</sup> <br>| 6.02 | 6/25/2054 | 287957 | 289322 |
| Natixis Commercial Mortgage Securities Trust, Ser. 2020-2PAC, Cl. A<sup>(b)</sup> <br>| 2.97 | 12/15/2038 | 172355 | 162333 |
| New Residential Mortgage Loan Trust, Ser. 2022-NQM1, Cl. A1<sup>(b)</sup> <br>| 2.28 | 4/25/2061 | 426244 | 378679 |
| New Residential Mortgage Loan Trust, Ser. 2024-NQM3, Cl. A1<sup>(b)</sup> <br>| 5.47 | 11/25/2064 | 109602 | 109902 |
| New Residential Mortgage Loan Trust, Ser. 2025-NQM2, Cl. A1<sup>(b)</sup> <br>| 5.57 | 5/25/2065 | 244483 | 246258 |
| NY Commercial Mortgage Trust, Ser. 2025-299P, Cl. A<sup>(b)</sup> <br>| 5.85 | 2/10/2047 | 100000 | 103296 |
| NYMT Loan Trust, Ser. 2024-BPL2, Cl. A1<sup>(b)</sup> <br>| 6.51 | 5/25/2039 | 235000 | 237518 |
| OBX Trust, Ser. 2023-NQM2, Cl. A1<sup>(b)</sup> <br>| 6.32 | 1/25/2062 | 306749 | 307633 |
| OBX Trust, Ser. 2024-NQM18, Cl. A1<sup>(b)</sup> <br>| 5.41 | 10/25/2064 | 91971 | 92149 |
| Toorak Mortgage Trust, Ser. 2025-RRTL1, Cl. A1<sup>(b)</sup> <br>| 5.52 | 2/25/2040 | 140071 | 140020 |
| Towd Point Mortgage Trust, Ser. 2023-1, Cl. A1<sup>(b)</sup> <br>| 3.75 | 1/25/2063 | 80805 | 77814 |
| Verus Securitization Trust, Ser. 2024-9, Cl. A1<sup>(b)</sup> <br>| 5.44 | 11/25/2069 | 96342 | 96430 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust, Ser. 2021-SAVE, Cl. A, (1 Month <br> TSFR +1.36%)<sup>(b),(c)</sup> <br>| 5.69 | 2/15/2040 | 52341 | 52333 |
|  |  |  |  | **4866566** |
| **Consumer Discretionary — 5.3%** | **Consumer Discretionary — 5.3%** | **Consumer Discretionary — 5.3%** | **Consumer Discretionary — 5.3%** | **Consumer Discretionary — 5.3%** |
| Caesars Entertainment, Inc., Gtd. Notes<sup>(b)</sup> <br>| 4.63 | 10/15/2029 | 135000 | 124763 |
| Caesars Entertainment, Inc., Gtd. Notes<sup>(b)</sup> <br>| 8.13 | 7/1/2027 | 90000 | 90343 |
| Carnival Corp., Gtd. Notes<sup>(b)</sup> <br>| 5.75 | 3/1/2027 | 250000 | 249304 |
| D.R. Horton, Inc., Sr. Unscd. Notes | 4.85 | 10/15/2030 | 427000 | 429044 |
| International Game Technology PLC, Sr. Scd. Notes<sup>(b)</sup> <br>| 4.13 | 4/15/2026 | 430000 | 424769 |
| International Game Technology PLC, Sr. Scd. Notes<sup>(b),(d)</sup> <br>| 5.25 | 1/15/2029 | 440000 | 430587 |
| KB Home, Gtd. Notes | 6.88 | 6/15/2027 | 450000 | 461678 |
| Las Vegas Sands Corp., Sr. Unscd. Notes | 5.90 | 6/1/2027 | 486000 | 492421 |
| Light & Wonder International, Inc., Gtd. Notes<sup>(b)</sup> <br>| 7.25 | 11/15/2029 | 300000 | 306152 |
| Royal Caribbean Cruises Ltd., Sr. Unscd. Notes<sup>(b)</sup> <br>| 5.50 | 8/31/2026 | 645000 | 645746 |
| Taylor Morrison Communities, Inc., Gtd. Notes<sup>(b)</sup> <br>| 5.88 | 6/15/2027 | 300000 | 301730 |
| Wynn Macau Ltd., Sr. Unscd. Notes<sup>(b),(d)</sup> <br>| 5.63 | 8/26/2028 | 600000 | 573234 |
|  |  |  |  | **4529771** |
| **Diversified Financials — 1.8%** | **Diversified Financials — 1.8%** | **Diversified Financials — 1.8%** | **Diversified Financials — 1.8%** | **Diversified Financials — 1.8%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Gtd. Notes | 5.10 | 1/19/2029 | 450000 | 455065 |
| Aircastle Ltd./Aircastle Ireland DAC, Sr. Unscd. Notes<sup>(b)</sup> <br>| 5.25 | 3/15/2030 | 430000 | 426549 |
| American Express Co., Sr. Unscd. Notes | 4.73 | 4/25/2029 | 425000 | 429011 |
| Macquarie Airfinance Holdings Ltd., Sr. Unscd. Notes<sup>(b)</sup> <br>| 5.20 | 3/27/2028 | 188000 | 187865 |
|  |  |  |  | **1498490** |
| **Energy — 10.4%** | **Energy — 10.4%** | **Energy — 10.4%** | **Energy — 10.4%** | **Energy — 10.4%** |
| Antero Midstream Partners LP/Antero Midstream Finance Corp., Gtd. Notes<sup>(b)</sup> <br>| 5.75 | 3/1/2027 | 400000 | 398917 |
| Azule Energy Finance PLC, Gtd. Notes<sup>(b)</sup> <br>| 8.13 | 1/23/2030 | 200000 | 192840 |
| CITGO Petroleum Corp., Sr. Scd. Notes<sup>(b)</sup> <br>| 8.38 | 1/15/2029 | 209000 | 209385 |
| Columbia Pipelines Holding Co. LLC, Sr. Unscd. Notes<sup>(b)</sup> <br>| 6.06 | 8/15/2026 | 500000 | 507202 |
| CVR Energy, Inc., Gtd. Bonds<sup>(b)</sup> <br>| 5.75 | 2/15/2028 | 500000 | 456916 |
| Enbridge, Inc., Gtd. Notes | 6.00 | 11/15/2028 | 400000 | 418717 |
| Energy Transfer LP, Gtd. Notes<sup>(b)</sup> <br>| 5.63 | 5/1/2027 | 675000 | 675205 |
| Energy Transfer LP, Sr. Unscd. Notes | 5.55 | 2/15/2028 | 453000 | 464380 |
| Global Partners LP/GLP Finance Corp., Gtd. Notes | 6.88 | 1/15/2029 | 254000 | 253492 |
| Global Partners LP/GLP Finance Corp., Gtd. Notes | 7.00 | 8/1/2027 | 500000 | 496847 |

---

**7**

------

*STATEMENT OF INVESTMENTS (Unaudited) (continued)*

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description |  | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** |
| **Energy — 10.4% (continued)** | **Energy — 10.4% (continued)** | **Energy — 10.4% (continued)** | **Energy — 10.4% (continued)** | **Energy — 10.4% (continued)** | **Energy — 10.4% (continued)** |
| Hess Midstream Operations LP, Gtd. Notes<sup>(b)</sup> <br>|  | 5.88 | 3/1/2028 | 268000 | 268787 |
| Hess Midstream Operations LP, Gtd. Notes<sup>(b)</sup> <br>|  | 6.50 | 6/1/2029 | 66000 | 67092 |
| Howard Midstream Energy Partners LLC, Sr. Unscd. Notes<sup>(b)</sup> <br>|  | 8.88 | 7/15/2028 | 263000 | 273572 |
| Ithaca Energy North Sea PLC, Sr. Unscd. Notes<sup>(b)</sup> <br>|  | 8.13 | 10/15/2029 | 400000 | 401382 |
| Kinder Morgan, Inc., Gtd. Bonds |  | 5.15 | 6/1/2030 | 77000 | 77759 |
| Leviathan Bond Ltd., Sr. Scd. Notes<sup>(b)</sup> <br>|  | 6.13 | 6/30/2025 | 300000 | 300117 |
| Occidental Petroleum Corp., Sr. Unscd. Notes |  | 6.38 | 9/1/2028 | 300000 | 308146 |
| ONEOK, Inc., Gtd. Notes |  | 4.25 | 9/24/2027 | 491000 | 488289 |
| ONEOK, Inc., Gtd. Notes |  | 5.65 | 11/1/2028 | 422000 | 435215 |
| Parkland Corp., Gtd. Notes<sup>(b)</sup> <br>|  | 5.88 | 7/15/2027 | 250000 | 248065 |
| Petroleos Mexicanos, Gtd. Notes |  | 6.50 | 3/13/2027 | 220000 | 215091 |
| SM Energy Co., Sr. Unscd. Notes<sup>(b),(d)</sup> <br>|  | 6.75 | 8/1/2029 | 341000 | 318891 |
| South Bow USA Infrastructure Holdings LLC, Gtd. Notes<sup>(b)</sup> <br>|  | 4.91 | 9/1/2027 | 176000 | 176944 |
| Sunoco LP/Sunoco Finance Corp., Gtd. Notes |  | 6.00 | 4/15/2027 | 255000 | 254383 |
| The Williams Companies, Inc., Sr. Unscd. Notes |  | 3.75 | 6/15/2027 | 275000 | 270945 |
| Valero Energy Corp., Sr. Unscd. Notes |  | 5.15 | 2/15/2030 | 178000 | 179998 |
| Venture Global LNG, Inc., Sr. Scd. Notes<sup>(b)</sup> <br>|  | 8.13 | 6/1/2028 | 410000 | 407509 |
|  |  |  |  |  | **8766086** |
| **Food Products — .5%** | **Food Products — .5%** | **Food Products — .5%** | **Food Products — .5%** | **Food Products — .5%** | **Food Products — .5%** |
| US Foods, Inc., Gtd. Notes<sup>(b)</sup> <br>|  | 6.88 | 9/15/2028 | 419000 | **430006** |
| **Foreign Governmental — .9%** | **Foreign Governmental — .9%** | **Foreign Governmental — .9%** | **Foreign Governmental — .9%** | **Foreign Governmental — .9%** | **Foreign Governmental — .9%** |
| Brazil Notas do Tesouro Nacional, Notes, Ser. F | BRL | 10.00 | 1/1/2029 | 1000 | 159 |
| Colombia Government International Bond, Sr. Unscd. Bonds |  | 7.38 | 4/25/2030 | 206000 | 209430 |
| Hungary, Sr. Unscd. Notes<sup>(b)</sup> <br>|  | 6.13 | 5/22/2028 | 200000 | 205836 |
| Romania, Sr. Unscd. Notes<sup>(b)</sup> <br>|  | 5.25 | 11/25/2027 | 350000 | 347859 |
|  |  |  |  |  | **763284** |
| **Health Care — 1.1%** | **Health Care — 1.1%** | **Health Care — 1.1%** | **Health Care — 1.1%** | **Health Care — 1.1%** | **Health Care — 1.1%** |
| Avantor Funding, Inc., Gtd. Notes<sup>(b)</sup> <br>|  | 4.63 | 7/15/2028 | 310000 | 298380 |
| GE HealthCare Technologies, Inc., Sr. Unscd. Notes |  | 4.80 | 8/14/2029 | 113000 | 113852 |
| Teva Pharmaceutical Finance Netherlands III BV, Gtd. Notes |  | 7.88 | 9/15/2029 | 450000 | 482901 |
|  |  |  |  |  | **895133** |
| **Industrial — 1.8%** | **Industrial — 1.8%** | **Industrial — 1.8%** | **Industrial — 1.8%** | **Industrial — 1.8%** | **Industrial — 1.8%** |
| AGCO Corp., Gtd. Notes |  | 5.45 | 3/21/2027 | 272000 | 274475 |
| Benteler International AG, Sr. Scd. Notes<sup>(b),(d)</sup> <br>|  | 10.50 | 5/15/2028 | 500000 | 511007 |
| Chart Industries, Inc., Sr. Scd. Notes<sup>(b)</sup> <br>|  | 7.50 | 1/1/2030 | 300000 | 311622 |
| TK Elevator US Newco, Inc., Sr. Scd. Notes<sup>(b)</sup> <br>|  | 5.25 | 7/15/2027 | 400000 | 394263 |
|  |  |  |  |  | **1491367** |
| **Information Technology — .1%** | **Information Technology — .1%** | **Information Technology — .1%** | **Information Technology — .1%** | **Information Technology — .1%** | **Information Technology — .1%** |
| Paychex, Inc., Sr. Unscd. Notes |  | 5.10 | 4/15/2030 | 112000 | **113714** |
| **Insurance — 1.0%** | **Insurance — 1.0%** | **Insurance — 1.0%** | **Insurance — 1.0%** | **Insurance — 1.0%** | **Insurance — 1.0%** |
| Allianz SE, Jr. Sub. Bonds<sup>(b),(e)</sup> <br>|  | 3.20 | 10/30/2027 | 400000 | 337073 |
| Corebridge Global Funding, Scd. Notes<sup>(b)</sup> <br>|  | 4.90 | 12/3/2029 | 485000 | 488748 |
|  |  |  |  |  | **825821** |
| **Materials — 2.0%** | **Materials — 2.0%** | **Materials — 2.0%** | **Materials — 2.0%** | **Materials — 2.0%** | **Materials — 2.0%** |
| Amcor Flexibles North America, Inc., Gtd. Notes<sup>(b)</sup> <br>|  | 5.10 | 3/17/2030 | 299000 | 301548 |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance <br> PLC, Sr. Scd. Notes<sup>(b)</sup> <br>|  | 6.00 | 6/15/2027 | 500000 | 498720 |
| Ball Corp., Gtd. Notes |  | 6.88 | 3/15/2028 | 450000 | 461301 |

---

**8**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description |  | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** |
| **Materials — 2.0% (continued)** | **Materials — 2.0% (continued)** | **Materials — 2.0% (continued)** | **Materials — 2.0% (continued)** | **Materials — 2.0% (continued)** | **Materials — 2.0% (continued)** |
| Canpack SA/Canpack US LLC, Gtd. Notes<sup>(b)</sup> <br>|  | 3.88 | 11/15/2029 | 250000 | 229097 |
| Crown Americas LLC/Crown Americas Capital Corp. VI, Gtd. Notes |  | 4.75 | 2/1/2026 | 190000 | 189086 |
|  |  |  |  |  | **1679752** |
| **Media — 1.5%** | **Media — 1.5%** | **Media — 1.5%** | **Media — 1.5%** | **Media — 1.5%** | **Media — 1.5%** |
| Paramount Global, Jr. Sub. Notes<sup>(d)</sup> <br>|  | 6.38 | 3/30/2062 | 550000 | 529469 |
| Sirius XM Radio LLC, Gtd. Notes<sup>(b)</sup> <br>|  | 5.00 | 8/1/2027 | 500000 | 494437 |
| Univision Communications, Inc., Sr. Scd. Notes<sup>(b)</sup> <br>|  | 8.00 | 8/15/2028 | 258000 | 250853 |
|  |  |  |  |  | **1274759** |
| **Metals & Mining — 1.4%** | **Metals & Mining — 1.4%** | **Metals & Mining — 1.4%** | **Metals & Mining — 1.4%** | **Metals & Mining — 1.4%** | **Metals & Mining — 1.4%** |
| Alumina Pty Ltd., Gtd. Notes<sup>(b)</sup> <br>|  | 6.13 | 3/15/2030 | 215000 | 213440 |
| Cleveland-Cliffs, Inc., Gtd. Notes<sup>(d)</sup> <br>|  | 5.88 | 6/1/2027 | 500000 | 493770 |
| Glencore Funding LLC, Gtd. Notes<sup>(b)</sup> <br>|  | 5.19 | 4/1/2030 | 187000 | 189402 |
| WE Soda Investments Holding PLC, Sr. Scd. Bonds<sup>(b)</sup> <br>|  | 9.50 | 10/6/2028 | 250000 | 256117 |
|  |  |  |  |  | **1152729** |
| **Real Estate — 6.8%** | **Real Estate — 6.8%** | **Real Estate — 6.8%** | **Real Estate — 6.8%** | **Real Estate — 6.8%** | **Real Estate — 6.8%** |
| COPT Defense Properties LP, Gtd. Notes |  | 2.25 | 3/15/2026 | 369000 | 360093 |
| EPR Properties, Gtd. Notes |  | 4.75 | 12/15/2026 | 430000 | 426430 |
| Extra Space Storage LP, Gtd. Notes |  | 5.70 | 4/1/2028 | 380000 | 392198 |
| GLP Capital LP/GLP Financing II, Inc., Gtd. Notes |  | 5.38 | 4/15/2026 | 710000 | 708659 |
| Iron Mountain, Inc., Gtd. Notes<sup>(b)</sup> <br>|  | 4.88 | 9/15/2029 | 225000 | 216958 |
| Kite Realty Group LP, Sr. Unscd. Notes |  | 4.00 | 10/1/2026 | 427000 | 422993 |
| Omega Healthcare Investors, Inc., Gtd. Notes |  | 5.25 | 1/15/2026 | 430000 | 430077 |
| &nbsp;&nbsp;&nbsp; Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-<br> Issuer, Gtd. Notes<sup>(b)</sup> <br>|  | 7.00 | 2/1/2030 | 222000 | 222411 |
| Sabra Health Care LP, Gtd. Notes |  | 5.13 | 8/15/2026 | 425000 | 423091 |
| SBA Tower Trust, Asset Backed Notes<sup>(b)</sup> <br>|  | 1.84 | 4/15/2027 | 500000 | 475110 |
| SBA Tower Trust, Asset Backed Notes<sup>(b)</sup> <br>|  | 1.88 | 1/15/2026 | 275000 | 269200 |
| Store Capital LLC, Sr. Unscd. Notes |  | 4.63 | 3/15/2029 | 220000 | 214550 |
| Store Capital LLC, Sr. Unscd. Notes<sup>(b)</sup> <br>|  | 5.40 | 4/30/2030 | 210000 | 209593 |
| Ventas Realty LP, Gtd. Notes |  | 4.40 | 1/15/2029 | 430000 | 426594 |
| VICI Properties LP, Sr. Unscd. Notes |  | 4.75 | 4/1/2028 | 78000 | 78061 |
| Vornado Realty LP, Sr. Unscd. Notes |  | 2.15 | 6/1/2026 | 180000 | 173604 |
| WPC Eurobond BV, Gtd. Notes | EUR | 1.35 | 4/15/2028 | 300000 | 325031 |
|  |  |  |  |  | **5774653** |
| **Retailing — .8%** | **Retailing — .8%** | **Retailing — .8%** | **Retailing — .8%** | **Retailing — .8%** | **Retailing — .8%** |
| Asbury Automotive Group, Inc., Gtd. Notes<sup>(b)</sup> <br>|  | 4.63 | 11/15/2029 | 535000 | 503726 |
| AutoZone, Inc., Sr. Unscd. Notes<sup>(d)</sup> <br>|  | 4.00 | 4/15/2030 | 200000 | 194324 |
|  |  |  |  |  | **698050** |
| **Telecommunication Services — 1.1%** | **Telecommunication Services — 1.1%** | **Telecommunication Services — 1.1%** | **Telecommunication Services — 1.1%** | **Telecommunication Services — 1.1%** | **Telecommunication Services — 1.1%** |
| Millicom International Cellular SA, Sr. Unscd. Notes<sup>(b)</sup> <br>|  | 5.13 | 1/15/2028 | 495000 | 483244 |
| Sunrise HoldCo IV BV, Sr. Scd. Notes<sup>(b)</sup> <br>|  | 5.50 | 1/15/2028 | 500000 | 490494 |
|  |  |  |  |  | **973738** |
| **Transportation — .4%** | **Transportation — .4%** | **Transportation — .4%** | **Transportation — .4%** | **Transportation — .4%** | **Transportation — .4%** |
| Ryder System, Inc., Sr. Unscd. Notes |  | 4.85 | 6/15/2030 | 338000 | **338910** |
| **U.S. Government Agencies Collateralized Mortgage Obligations — 1.1%** | **U.S. Government Agencies Collateralized Mortgage Obligations — 1.1%** | **U.S. Government Agencies Collateralized Mortgage Obligations — 1.1%** | **U.S. Government Agencies Collateralized Mortgage Obligations — 1.1%** | **U.S. Government Agencies Collateralized Mortgage Obligations — 1.1%** | **U.S. Government Agencies Collateralized Mortgage Obligations — 1.1%** |
| Federal Home Loan Mortgage Corp., REMIC, Ser. 4091, Cl. KC<sup>(f)</sup> <br>|  | 3.00 | 8/15/2040 | 18999 | 18824 |
| Federal Home Loan Mortgage Corp., REMIC, Ser. 5050, Cl. XA<sup>(f)</sup> <br>|  | 1.00 | 7/15/2039 | 276495 | 256870 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Seasoned Credit Risk Transfer Trust, Ser. <br> 2020-3, Cl. TTU<sup>(f)</sup> <br>|  | 2.50 | 5/25/2060 | 72487 | 66993 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Seasoned Loans Structured Transaction <br> Trust, Ser. 2018-2, Cl. A1<sup>(f)</sup> <br>|  | 3.50 | 11/25/2028 | 46195 | 45017 |

---

**9**

------

*STATEMENT OF INVESTMENTS (Unaudited) (continued)*

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** | **Bonds and Notes — 95.5% (continued)** |
| **U.S. Government Agencies Collateralized Mortgage Obligations — 1.1% (continued)** | **U.S. Government Agencies Collateralized Mortgage Obligations — 1.1% (continued)** | **U.S. Government Agencies Collateralized Mortgage Obligations — 1.1% (continued)** | **U.S. Government Agencies Collateralized Mortgage Obligations — 1.1% (continued)** | **U.S. Government Agencies Collateralized Mortgage Obligations — 1.1% (continued)** |
| Federal National Mortgage Association, REMIC, Ser. 2013-16, Cl. GP<sup>(f)</sup> <br>| 3.00 | 3/25/2033 | 20892 | 20593 |
| Government National Mortgage Association, Ser. 2022-173, Cl. PQ | 5.00 | 6/20/2051 | 493053 | 498585 |
|  |  |  |  | **906882** |
| **U.S. Government Agencies Mortgage-Backed — 0.1%** | **U.S. Government Agencies Mortgage-Backed — 0.1%** | **U.S. Government Agencies Mortgage-Backed — 0.1%** | **U.S. Government Agencies Mortgage-Backed — 0.1%** | **U.S. Government Agencies Mortgage-Backed — 0.1%** |
| Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: |
| 2.50%, 7/1/29<sup>(f)</sup> <br>|  |  | 43727 | 42740 |
| Government National Mortgage Association II: | Government National Mortgage Association II: | Government National Mortgage Association II: | Government National Mortgage Association II: | Government National Mortgage Association II: |
| 7.00%, 12/20/2030-4/20/2031 |  |  | 1120 | 1182 |
| 7.50%, 11/20/2029-12/20/2030 |  |  | 987 | 1023 |
|  |  |  |  | **44945** |
| **Utilities — 5.0%** | **Utilities — 5.0%** | **Utilities — 5.0%** | **Utilities — 5.0%** | **Utilities — 5.0%** |
| AEP Texas, Inc., Sr. Unscd. Notes | 5.45 | 5/15/2029 | 491000 | 503574 |
| DTE Energy Co., Sr. Unscd. Notes | 4.95 | 7/1/2027 | 427000 | 431475 |
| Electricite de France SA, Sr. Unscd. Notes<sup>(b)</sup> <br>| 5.70 | 5/23/2028 | 457000 | 471702 |
| Enel Finance International NV, Gtd. Notes<sup>(b)</sup> <br>| 5.13 | 6/26/2029 | 200000 | 203163 |
| FirstEnergy Corp., Sr. Unscd. Notes, Ser. B | 3.90 | 7/15/2027 | 400000 | 395491 |
| NiSource, Inc., Sr. Unscd. Notes | 5.25 | 3/30/2028 | 230000 | 235096 |
| Southern California Edison Co., First Mortgage Bonds | 5.25 | 3/15/2030 | 47000 | 47475 |
| System Energy Resources, Inc., First Mortgage Bonds | 6.00 | 4/15/2028 | 500000 | 519251 |
| The AES Corp., Sr. Unscd. Notes | 5.45 | 6/1/2028 | 500000 | 507868 |
| Vistra Operations Co. LLC, Gtd. Notes<sup>(b)</sup> <br>| 5.00 | 7/31/2027 | 500000 | 496077 |
| Xcel Energy, Inc., Sr. Unscd. Notes | 4.75 | 3/21/2028 | 430000 | 433571 |
|  |  |  |  | **4244743** |
| &nbsp;&nbsp;&nbsp; **Total Bonds and Notes** <br>(cost $81,222,957)<br>|  |  |  | **80866740** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Annualized <br>Yield (%)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>|  |  |
| **Short-Term Investments — 3.9%** | **Short-Term Investments — 3.9%** | **Short-Term Investments — 3.9%** | **Short-Term Investments — 3.9%** | **Short-Term Investments — 3.9%** |
| **U.S. Government Securities — 3.9%** |  |  |  |  |
| U.S. Treasury Bills<sup>(g)</sup> <br>| 4.25 | 7/10/2025 | 2100000 | 2082910 |
| U.S. Treasury Bills<sup>(g)</sup> <br>| 4.30 | 5/1/2025 | 1250000 | 1250000 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $3,333,025)<br>|  |  |  | **3332910** |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  | 1-Day <br>Yield (%)<br>| Shares |  |
| **Investment Companies — .9%** | **Investment Companies — .9%** | **Investment Companies — .9%** | **Investment Companies — .9%** |
| **Registered Investment Companies — .9%** | **Registered Investment Companies — .9%** | **Registered Investment Companies — .9%** | **Registered Investment Companies — .9%** |
| &nbsp;&nbsp;&nbsp; Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares<sup>(h)</sup> <br>(cost $725,147)<br>| 4.45 | 725147 | **725147** |
| **Investment of Cash Collateral for Securities Loaned — 2.2%** |  |  |  |
| **Registered Investment Companies — 2.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares<sup>(h)</sup> <br>(cost $1,858,010)<br>| 4.45 | 1858010 | **1858010** |
| **Total Investments** (cost $87,139,139) | **Total Investments** (cost $87,139,139) | **102.5%** | **86782807** |
| **Liabilities, Less Cash and Receivables** | **Liabilities, Less Cash and Receivables** | **(2.5%)** | **(2129336)** |
| **Net Assets**  | **Net Assets**  | **100.0%** | **84653471** |

---

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

*BRL—Brazilian Real* <br> *CAD—Canadian Dollar*

**10**

------

---

| |
|:---|
| *EUR—Euro* |
| *REMIC—Real Estate Mortgage Investment Conduit* |
| *SOFR—Secured Overnight Financing Rate* |
| *TSFR—Term Secured Overnight Financing Rate Reference Rates* |

---

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

<sup>(a)</sup> *Amount stated in U.S. Dollars unless otherwise noted above.*

<sup>(b)</sup> *Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold in transactions exempt from* *registration, normally to qualified institutional buyers. At April 30, 2025, these securities amounted to $47,659,411 or 56.3% of net assets.* 

<sup>(c)</sup> *Variable rate security—Interest rate resets periodically and the rate shown is the interest rate in effect at period end. Security description also includes the* *reference rate and spread if published and available.* 

<sup>(d)</sup> *Security, or portion thereof, on loan. At April 30, 2025, the value of the fund's securities on loan was $3,099,947 and the value of the collateral was* *$3,242,409, consisting of cash collateral of $1,858,010 and U.S. Government & Agency securities valued at $1,384,399. In addition, the value of collateral* *may include pending sales that are also on loan.* 

<sup>(e)</sup> *Security is a perpetual bond with no specified maturity date. Maturity date shown is next reset date of the bond.*

<sup>(f)</sup> *The Federal Housing Finance Agency ("FHFA") placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association into* *conservatorship with FHFA as the conservator. As such, the FHFA oversees the continuing affairs of these companies.* 

<sup>(g)</sup> *Security is a discount security. Income is recognized through the accretion of discount.*

<sup>(h)</sup> *Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company's* *prospectus.* 

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures** | **Futures** | **Futures** | **Futures** | **Futures** | **Futures** |
| Description | Number of <br>Contracts<br>| Expiration | Notional <br>Value ($)<br>| Market <br>Value ($)<br>| Unrealized <br>Appreciation <br>(Depreciation) ($)<br>|
| **Futures Long** |  |  |  |  |  |
| 2 Year U.S. Treasury Note | &nbsp;&nbsp; 65 | &nbsp;&nbsp; 6/30/2025 | &nbsp;&nbsp; 13380943 | &nbsp;&nbsp; 13529648 | &nbsp;&nbsp; 148705 |
| 5 Year U.S. Treasury Note | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 6/30/2025 | &nbsp;&nbsp; 10124200 | &nbsp;&nbsp; 10373554 | &nbsp;&nbsp; 249355 |
| **Futures Short** |  |  |  |  |  |
| Canadian 5 Year Government Bond | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 6/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 166051<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 167895 | &nbsp;&nbsp;&nbsp; (1844) |
| Euro-Bobl | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 6/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 269186<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 271046 | &nbsp;&nbsp;&nbsp; (1860) |
| Euro-Schatz | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 6/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 484992<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 487443 | &nbsp;&nbsp;&nbsp; (2451) |
| 10 Year U.S. Treasury Note | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 6/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 218340 | &nbsp;&nbsp;&nbsp;&nbsp; 224437 | &nbsp;&nbsp;&nbsp; (6097) |
| Ultra 10 Year U.S. Treasury Note | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 6/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 337964 | &nbsp;&nbsp;&nbsp;&nbsp; 344203 | &nbsp;&nbsp;&nbsp; (6239) |
| **Gross Unrealized Appreciation** |  |  |  |  | &nbsp;&nbsp; **398060** |
| **Gross Unrealized Depreciation** |  |  |  |  | &nbsp;&nbsp; **(18491)** |

---

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

<sup>(a)</sup> *Notional amounts in foreign currency have been converted to USD using relevant foreign exchange rates.*

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** |
| Counterparty/ <br>Purchased <br>Currency<br>| Purchased <br>Currency <br>Amounts<br>| &nbsp;&nbsp; Currency <br>Sold<br>| Sold <br>Currency <br>Amounts<br>| Settlement <br>Date<br>| Unrealized <br>Appreciation <br>(Depreciation) ($)<br>|
| **Goldman Sachs & Co. LLC** | **Goldman Sachs & Co. LLC** | **Goldman Sachs & Co. LLC** | **Goldman Sachs & Co. LLC** | **Goldman Sachs & Co. LLC** | **Goldman Sachs & Co. LLC** |
| United States Dollar | &nbsp;&nbsp; 450125 | Canadian Dollar | &nbsp;&nbsp; 643000 | &nbsp;&nbsp; 5/9/2025 | &nbsp;&nbsp; (16502) |
| Euro | &nbsp;&nbsp; 286000 | United States Dollar | &nbsp;&nbsp; 324581 | &nbsp;&nbsp; 5/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (409) |
| **HSBC Securities (USA), Inc.** | **HSBC Securities (USA), Inc.** | **HSBC Securities (USA), Inc.** | **HSBC Securities (USA), Inc.** | **HSBC Securities (USA), Inc.** | **HSBC Securities (USA), Inc.** |
| United States Dollar | &nbsp;&nbsp; 360324 | Euro | &nbsp;&nbsp; 333000 | &nbsp;&nbsp; 5/9/2025 | &nbsp;&nbsp; (17120) |

---

**11**

------

*STATEMENT OF INVESTMENTS (Unaudited) (continued)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  |
| Counterparty/<br> Purchased<br> Currency<br>| Purchased<br> Currency<br> Amounts<br>| &nbsp;&nbsp; Currency<br> Sold<br>| Sold<br> Currency<br> Amounts<br>| Settlement<br> Date<br>| Unrealized<br> Appreciation<br> (Depreciation) ($)<br>|
| **J.P. Morgan Securities LLC** | **J.P. Morgan Securities LLC** | **J.P. Morgan Securities LLC** | **J.P. Morgan Securities LLC** | **J.P. Morgan Securities LLC** | **J.P. Morgan Securities LLC** |
| United States Dollar | &nbsp;&nbsp; 360237 | Euro | &nbsp;&nbsp; 333000 | &nbsp;&nbsp; 5/9/2025 | &nbsp;&nbsp; (17207) |
| Euro | &nbsp;&nbsp; 41000 | United States Dollar | &nbsp;&nbsp; 45447 | &nbsp;&nbsp; 5/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 1025 |
| **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **1025** |
| **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **(51238)** |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Centrally Cleared Credit Default Swaps** | **Centrally Cleared Credit Default Swaps** | **Centrally Cleared Credit Default Swaps** |  |  |  |
| Reference <br>Obligations<br>| Maturity <br>Date<br>| Notional <br>Amount ($)<sup>(a)</sup> <br>| Market <br>Value ($)<br>| Upfront <br>Payments/ <br>Receipts ($)<br>| Unrealized <br>Appreciation ($)<br>|
| **Purchased Contracts:**<sup>(b)</sup> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Markit iTraxx Europe Crossover Index Series 42, Paid <br> 3 Month Fixed Rate of 5.00%<br>| &nbsp;&nbsp; 12/20/2029 | &nbsp;&nbsp; 922143 | &nbsp;&nbsp; (65156) | &nbsp;&nbsp; (67491) | &nbsp;&nbsp; 2335 |
| **Gross Unrealized Appreciation** |  |  |  |  | &nbsp;&nbsp; **2335** |

---

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

<sup>(a)</sup> *The maximum potential amount the fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs* *as defined under the terms of the swap agreement.* 

<sup>(b)</sup> *If the fund is a buyer of protection and a credit event occurs, as defined under the terms of the swap agreement, the fund will either (i) receive from the seller of* *protection an amount equal to the notional amount of the swap and deliver the reference obligation or (ii) receive a net settlement amount in the form of cash or* *securities equal to the notional amount of the swap less the recovery value of the reference obligation.* 

*See notes to statement of investments.*

**12**

------

Statement of Investments

BNY Mellon Short Term Income Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>April 30, 2025 (Unaudited)

The following is a summary of the inputs used as of April 30, 2025 in valuing the fund's investments:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 -** <br>**Unadjusted** <br>**Quoted Prices**<br>| **Level 2- Other** <br>**Significant** <br>**Observable Inputs**<br>| **Level 3-** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>| **Total** |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 20463489 | &nbsp;&nbsp; — | &nbsp;&nbsp; **20463489** |
| Collateralized Loan Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4604950 | &nbsp;&nbsp; — | &nbsp;&nbsp; **4604950** |
| Commercial Mortgage-Backed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4866566 | &nbsp;&nbsp; — | &nbsp;&nbsp; **4866566** |
| Corporate Bonds and Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 49216624 | &nbsp;&nbsp; — | &nbsp;&nbsp; **49216624** |
| Foreign Governmental | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 763284 | &nbsp;&nbsp; — | &nbsp;&nbsp; **763284** |
| U.S. Government Agencies Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 906882 | &nbsp;&nbsp; — | &nbsp;&nbsp; **906882** |
| U.S. Government Agencies Mortgage-Backed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44945 | &nbsp;&nbsp; — | &nbsp;&nbsp; **44945** |
| U.S. Treasury Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3332910 | &nbsp;&nbsp; — | &nbsp;&nbsp; **3332910** |
| Investment Companies | &nbsp;&nbsp; 2583157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **2583157** |
|  | &nbsp;&nbsp; **2583157** | &nbsp;&nbsp; **84199650** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **86782807** |
| Other Financial Instruments: |  |  |  |  |
| Futures<sup>††</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 398060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **398060** |
| Forward Foreign Currency Exchange Contracts<sup>††</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1025 | &nbsp;&nbsp; — | &nbsp;&nbsp; **1025** |
| Swap Agreements<sup>††</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2335 | &nbsp;&nbsp; — | &nbsp;&nbsp; **2335** |
|  | &nbsp;&nbsp; **398060** | &nbsp;&nbsp; **3360** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **401420** |
| **Liabilities ($)** |  |  |  |  |
| Other Financial Instruments: |  |  |  |  |
| Futures<sup>††</sup> <br>| &nbsp;&nbsp;&nbsp; (18491) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **(18491)** |
| Forward Foreign Currency Exchange Contracts<sup>††</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (51238) | &nbsp;&nbsp; — | &nbsp;&nbsp; **(51238)** |
|  | &nbsp;&nbsp; **(18491)** | &nbsp;&nbsp; **(51238)** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **(69729)** |

---

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

---

| | |
|:---|:---|
| <sup>†</sup> <br>| *See Statement of Investments for additional detailed categorizations, if any.* |
| <sup>††</sup> <br>| *Amount shown represents unrealized appreciation (depreciation) at period end, but only variation margin on exchange-traded and centrally cleared derivatives,* <br> *if any, are reported in the Statement of Assets and Liabilities.*<br>|

---

**13**

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The Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") is the exclusive reference of authoritative U.S. generally accepted accounting principles ("GAAP") recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission ("SEC") under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund is an investment company and applies the accounting and reporting guidance of the FASB ASC Topic 946 Financial Services-Investment Companies. The fund's financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.

The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.

Various inputs are used in determining the value of the fund's investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below:

**Level 1**—unadjusted quoted prices in active markets for identical investments.

**Level 2**—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).

**Level 3**—significant unobservable inputs (including the fund's own assumptions in determining the fair value of investments).

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

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the fund's investments are as follows:

The Company's Board of Directors (the "Board") has designated the Adviser as the fund's valuation designee to make all fair value determinations with respect to the fund's portfolio investments, subject to the Board's oversight and pursuant to Rule 2a-5 under the Act.

Registered investment companies that are not traded on an exchange are valued at their net asset value and are generally categorized within Level 1 of the fair value hierarchy.

Investments in debt securities, excluding short-term investments (other than U.S. Treasury Bills), futures and forward foreign currency exchange contracts ("forwards contracts") are valued each business day by one or more independent pricing services (each, a "Service") approved by the Board. Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of a Service are valued at the mean between the quoted bid prices (as obtained by a Service from dealers in such securities) and asked prices (as calculated by a Service based upon its evaluation of the market for such securities). Securities are valued as determined by a Service, based on methods which include consideration of the following: yields or prices of securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. The Services are engaged under the general supervision of the Board. These securities are generally categorized within Level 2 of the fair value hierarchy.

Securities not listed on an exchange or the national securities market, or securities for which there were no transactions, are valued at the average of the most recent bid and asked prices. U.S. Treasury Bills are valued at the mean price between quoted bid prices and asked prices by the Service. These securities are generally categorized within Level 2 of the fair value hierarchy.

Fair valuing of securities may be determined with the assistance of a pricing service using calculations based on indices of domestic securities and other appropriate indicators, such as prices of relevant American Depositary Receipts and futures. Utilizing these techniques may result in transfers between Level 1 and Level 2 of the fair value hierarchy.

When market quotations or official closing prices are not readily available, or are determined not to accurately reflect fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded (for example, a foreign exchange or market), but before the fund calculates its net asset value, the fund may value these investments at fair value as determined in accordance with the procedures approved by the Board. Certain factors may be considered

**14**

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when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.

For securities where observable inputs are limited, assumptions about market activity and risk are used and such securities are generally categorized within Level 3 of the fair value hierarchy.

Investments denominated in foreign currencies are translated to U.S. dollars at the prevailing rates of exchange.

Forward contracts are valued at the forward rate and are generally categorized within Level 2 of the fair value hierarchy. Futures, which are traded on an exchange, are valued at the last sales price on the securities exchange on which such securities are primarily traded or at the last sales price on the national securities market on each business day and are generally categorized within Level 1 of the fair value hierarchy. Investments in swap agreements are valued each business day by a Service. Swap agreements are valued by the Service by using a swap pricing model which incorporates among other factors, default probabilities, recovery rates, credit curves of the underlying issuer and swap spreads on interest rates and are generally categorized within Level 2 of the fair value hierarchy.

Pursuant to a securities lending agreement with BNY, the fund may lend securities to qualified institutions. It is the fund's policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral equivalent to at least 100% of the market value of securities on loan is maintained at all times. Collateral is either in the form of cash, which can be invested in certain money market mutual funds managed by the Adviser, or U.S. Government and Agency securities. The securities on loan, if any, are also disclosed in the fund's Statement of Investments. The fund is entitled to receive all dividends, interest and distributions on securities loaned, in addition to income earned as a result of the lending transaction. Should a borrower fail to return the securities in a timely manner, BNY is required to replace the securities for the benefit of the fund or credit the fund with the market value of the unreturned securities and is subrogated to the fund's rights against the borrower and the collateral. Additionally, the contractual maturity of security lending transactions are on an overnight and continuous basis.

**Derivatives:** A derivative is a financial instrument whose performance is derived from the performance of another asset. Each type of derivative instrument that was held by the fund at April 30, 2025 is discussed below.

**Futures:** In the normal course of pursuing its investment objective, the fund is exposed to market risk, including interest rate risk, as a result of changes in value of underlying financial instruments. The fund invests in futures in order to manage its exposure to or protect against changes in the market. A futures contract represents a commitment for the future purchase or a sale of an asset at a specified date. Upon entering into such contracts, these investments require initial margin deposits with a counterparty, which consist of cash or cash equivalents. The amount of these deposits is determined by the exchange or Board of Trade on which the contract is traded and is subject to change. Accordingly, variation margin payments are received or made to reflect daily unrealized gains or losses which are recorded in the Statement of Operations. When the contracts are closed, the fund recognizes a realized gain or loss which is reflected in the Statement of Operations. There is minimal counterparty credit risk to the fund with futures since they are exchange traded, and the exchange guarantees the futures against default. Futures open at April 30, 2025 are set forth in the Statement of Investments.

**Forward Foreign Currency Exchange Contracts**: The fund enters into forward contracts in order to hedge its exposure to changes in foreign currency exchange rates on its foreign portfolio holdings, to settle foreign currency transactions or as a part of its investment strategy. When executing forward contracts, the fund is obligated to buy or sell a foreign currency at a specified rate on a certain date in the future. With respect to sales of forward contracts, the fund incurs a loss if the value of the contract increases between the date the forward contract is opened and the date the forward contract is closed. The fund realizes a gain if the value of the contract decreases between those dates. With respect to purchases of forward contracts, the fund incurs a loss if the value of the contract decreases between the date the forward contract is opened and the date the forward contract is closed. The fund realizes a gain if the value of the contract increases between those dates. Any realized or unrealized gains or losses which occurred during the period are reflected in the Statement of Operations. The fund is exposed to foreign currency risk as a result of changes in value of underlying financial instruments. The fund is also exposed to credit risk associated with counterparty non-performance on these forward contracts, which is generally limited to the unrealized gain on each open contract. This risk may be mitigated by Master Agreements, if any, between the fund and the counterparty and the posting of collateral, if any, by the counterparty to the fund to cover the fund's exposure to the counterparty. Forward contracts open at April 30, 2025 are set forth in the Statement of Investments.

**Swap Agreements**: The fund enters into swap agreements to exchange the interest rate on, or return generated by, one nominal instrument for the return generated by another nominal instrument. Swap agreements are privately negotiated in the OTC market or centrally

**15**

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cleared. The fund enters into these agreements to hedge certain market or interest rate risks, to manage the interest rate sensitivity (sometimes called duration) of fixed income securities, to provide a substitute for purchasing or selling particular securities or to increase potential returns.

For OTC swaps, the fund accrues for interim payments on a daily basis, with the net amount recorded within unrealized appreciation (depreciation) on swap agreements in the Statement of Assets and Liabilities. Once the interim payments are settled in cash, the net amount is recorded as a realized gain (loss) on swaps, in addition to realized gain (loss) recorded upon the termination of swap agreements in the Statement of Operations. Upfront payments made and/or received by the fund, are recorded as an asset and/or liability in the Statement of Assets and Liabilities and are recorded as a realized gain or loss ratably over the agreement's term/event with the exception of forward starting interest rate swaps which are recorded as realized gains or losses on the termination date.

Upon entering into centrally cleared swap agreements, an initial margin deposit is required with a counterparty, which consists of cash or cash equivalents. The amount of these deposits is determined by the exchange on which the agreement is traded and is subject to change. The change in valuation of centrally cleared swaps is recorded as a receivable or payable for variation margin in the Statement of Assets and Liabilities. Payments received from (paid to) the counterparty, including upon termination, are recorded as realized gain (loss) in the Statement of Operations.

Fluctuations in the value of swap agreements are recorded for financial statement purposes as unrealized appreciation or depreciation on swap agreements.

**Credit Default Swaps**: Credit default swaps involve commitments to pay a fixed interest rate in exchange for payment if a credit event affecting a third party (the referenced obligation or index) occurs. Credit events may include a failure to pay interest or principal, bankruptcy, or restructuring. The fund enters into these agreements to manage its exposure to the market or certain sectors of the market, to reduce its risk exposure to defaults of corporate and sovereign issuers, or to create exposure to corporate or sovereign issuers to which it is not otherwise exposed. For those credit default swaps in which the fund is paying a fixed rate, the fund is buying credit protection on the instrument. In the event of a credit event, the fund would receive the full notional amount for the reference obligation. For those credit default swaps in which the fund is receiving a fixed rate, the fund is selling credit protection on the underlying instrument. The maximum payouts for these agreements are limited to the notional amount of each swap. Credit default swaps may involve greater risks than if the fund had invested in the reference obligation directly and are subject to general market risk, liquidity risk, counterparty risk and credit risk. This risk may be mitigated by Master Agreements, if any, between the fund and the counterparty and the posting of collateral, if any, by the counterparty to the fund to cover the fund's exposure to the counterparty. <br>

The maximum potential amount of future payments (undiscounted) that a fund as a seller of protection could be required to make under a credit default swap agreement would be an amount equal to the notional amount of the agreement which may exceed the amount of unrealized appreciation or depreciation reflected in the Statement of Assets and Liabilities. Notional amounts of all credit default swap agreements are disclosed in the Statement of Investments, which summarizes open credit default swaps entered into by the fund. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, underlying securities comprising the referenced index, upfront payments received upon entering into the agreement, or net amounts received from the settlement of buy protection credit default swap agreements entered into by the fund for the same referenced entity or entities. Credit default swaps open at April 30, 2025 are set forth in the Statement of Investments. <br>

GAAP requires disclosure for (i) the nature and terms of the credit derivative, reasons for entering into the credit derivative, the events or circumstances that would require the seller to perform under the credit derivative, and the current status of the payment/performance risk of the credit derivative, (ii) the maximum potential amount of future payments (undiscounted) the seller could be required to make under the credit derivative, (iii) the fair value of the credit derivative, and (iv) the nature of any recourse provisions and assets held either as collateral or by third parties. All required disclosures have been made and are incorporated within the current period as part of the Notes to the Statement of Investments and disclosures within this Note.

At April 30, 2025, accumulated net unrealized depreciation on investments inclusive of derivative contracts was $24,641, consisting of $1,079,644 gross unrealized appreciation and $1,104,285 gross unrealized depreciation.

At April 30, 2025, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes (see the Statement of Investments).

Additional investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the SEC on Form N-CSR.

**16**

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## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BNY Mellon Investment Funds VII, Inc.

- **b. Investment Company Act file number:** 811-06718

- **c. CIK number of Registrant:** 0000889169

- **d. LEI of Registrant:** 549300WJRB21YW4ZMJ58

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

  - **Street Address 1:** 240 Greenwich Street

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10286

  - **Telephone number:** 212-922-6400

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

- **a. Name of Series:** BNY Mellon Short Term Income Fund

- **b. EDGAR series identifier (if any):** S000000297

- **c. LEI of Series:** 7K6XKV7VU9LIXICI1C26

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $88001204.83

**Total Liabilities:** $3602744.88

**Net Assets:** $84398459.95

**Delayed Delivery Securities:** $300000.00

**Cash Not Reported:** $463065.24

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 216.21365000 | **1-Year:** 5925.26428000 | **5-Year:** 6550.89173000 | **10-Year:** 2381.24159000 | **30-Year:** 82.60847000

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

- **3-Month:** 89.15993000 | **1-Year:** 2715.95678000 | **5-Year:** 2093.68513000 | **10-Year:** 383.92749000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000727 | 0.87%                | 0.16%                | 0.49%                |
| Class ID C000236997 | 0.89%                | 0.17%                | 0.50%                |
| Class ID C000236998 | 0.88%                | 0.17%                | 0.40%                |
| Class ID C000236999 | 0.87%                | 0.15%                | 0.49%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8364.22                 | $241047.00                                 |
| Month 2  | $-71077.36               | $-125564.19                                |
| Month 3  | $-5833.55                | $-48332.51                                 |

**Designated Index Information**

- **Index Name:** ICE BofA Merrill Lynch 1-5 Year U.S. Corporate/Government Index

- **Index Identifier:** MLBVA0

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| GOLDMAN SACHS & CO. LLC                                           | CAD/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-16501.47    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                       | US 10YR ULTRA                                                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        -3 | NC      | $-6238.80     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Dryden Senior Loan Fund                                           | Dryden 108 CLO Ltd                                                               | CUSIP: 26253MAL4<br>LEI: 5493004WJFSUXXJ5FA29 | Long             | ABS-CBDO         | CORP              | JE        |    223684 | PA      | $223686.00    | 0.27%             | 2037-07-18      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                          | JP Morgan Mortgage Trust Series 2024-CES1                                        | CUSIP: 46658CAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    287957 | PA      | $289321.55    | 0.34%             | 2054-06-25      | Variable      | 6.02%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                                           | CF Hippolyta Issuer LLC                                                          | CUSIP: 12530MAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    259173 | PA      | $246869.72    | 0.29%             | 2061-03-15      | Fixed         | 1.53%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                            | Extra Space Storage LP                                                           | CUSIP: 30225VAJ6<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |    380000 | PA      | $392197.79    | 0.46%             | 2028-04-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| LEVIATHAN BOND LTD                                                | Leviathan Bond Ltd                                                               | CUSIP: 000000000<br>LEI: 254900D9T8VKYVQNZ220 | Long             | DBT              | CORP              | IL        |    300000 | PA      | $300117.00    | 0.36%             | 2025-06-30      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                            | General Motors Financial Co Inc                                                  | CUSIP: 37045XFE1<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    436000 | PA      | $437177.54    | 0.52%             | 2028-04-04      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Freddie Mac Pool                                                                 | CUSIP: 3132A7XW6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     43727 | PA      | $42740.53     | 0.05%             | 2029-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                    | Ginnie Mae II Pool                                                               | CUSIP: 36202DGD7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       122 | PA      | $125.86       | 0.00%             | 2030-03-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                                  | Paramount Global                                                                 | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    550000 | PA      | $529468.78    | 0.63%             | 2062-03-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| AMSR Trust                                                        | AMSR 2023-SFR2 Trust                                                             | CUSIP: 00178YAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    555000 | PA      | $542483.53    | 0.64%             | 2040-06-17      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                       | 5 YEAR U.S. TREASURY NOTE                                                        | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        95 | NC      | $249355.05    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY TRANSFER LP                                                | Energy Transfer LP                                                               | CUSIP: 226373AQ1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    675000 | PA      | $675204.96    | 0.80%             | 2027-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                                      | US Foods Inc                                                                     | CUSIP: 90290MAG6<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    419000 | PA      | $430006.20    | 0.51%             | 2028-09-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| OMEGA HLTHCARE INVESTORS                                          | Omega Healthcare Investors Inc                                                   | CUSIP: 681936BH2<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | DBT              | CORP              | US        |    430000 | PA      | $430077.05    | 0.51%             | 2026-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Citizens Auto Receivables Trus                                    | Citizens Auto Receivables Trust 2023-2                                           | CUSIP: 17295FAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11449 | PA      | $11459.51     | 0.01%             | 2026-10-15      | Fixed         | 6.09%                 | No            |                  2 | On Loan: No      |
| AGCO CORP                                                         | AGCO Corp                                                                        | CUSIP: 001084AR3<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | DBT              | CORP              | US        |    272000 | PA      | $274475.18    | 0.33%             | 2027-03-21      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| VALERO ENERGY CORP                                                | Valero Energy Corp                                                               | CUSIP: 91913YBF6<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |    178000 | PA      | $179998.03    | 0.21%             | 2030-02-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust                                          | Octane Receivables Trust 2024-3                                                  | CUSIP: 67571GAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100405.98    | 0.12%             | 2030-05-20      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| Wingspire Equipment Finance LL                                    | Wingspire Equipment Finance 2024-1 LLC                                           | CUSIP: 97415AAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    160000 | PA      | $160227.90    | 0.19%             | 2032-09-20      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| Citizens Auto Receivables Trus                                    | Citizens Auto Receivables Trust 2024-1                                           | CUSIP: 17331QAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    101000 | PA      | $101601.66    | 0.12%             | 2028-04-17      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| AMCOR FLEXIBLES NORTH AM                                          | Amcor Flexibles North America Inc                                                | CUSIP: 02344AAD0<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |    299000 | PA      | $301548.21    | 0.36%             | 2030-03-17      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                                 | EURO-SCHATZ                                                                      | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -4 | NC      | $-2451.26     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Neuberger Berman CLO Ltd                                          | Neuberger Berman Loan Advisers Clo 40 Ltd                                        | CUSIP: 64134JAC7<br>LEI: 549300Y2YE54ON4DJE28 | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $400449.60    | 0.47%             | 2033-04-16      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| PARKLAND CORP                                                     | Parkland Corp                                                                    | CUSIP: 70137TAP0<br>LEI: 549300UY5C6HUV0XLS53 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $248064.98    | 0.29%             | 2027-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Textainer Marine Containers Li                                    | Textainer Marine Containers VII Ltd                                              | CUSIP: 88315LAG3<br>LEI: 549300X48KLHDDGPK024 | Long             | ABS-O            | CORP              | BM        |    322426 | PA      | $301244.01    | 0.36%             | 2045-09-20      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| KB HOME                                                           | KB Home                                                                          | CUSIP: 48666KAX7<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |    450000 | PA      | $461678.40    | 0.55%             | 2027-06-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AXIS Equipment Finance Receiva                                    | Amur Equipment Finance Receivables XI LLC                                        | CUSIP: 03236XAB3<br>LEI: 549300IFG1NMINYRYF89 | Long             | ABS-O            | CORP              | US        |     27766 | PA      | $27811.13     | 0.03%             | 2028-06-21      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| D.R. HORTON INC                                                   | DR Horton Inc                                                                    | CUSIP: 23331ABT5<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | DBT              | CORP              | US        |    427000 | PA      | $429043.61    | 0.51%             | 2030-10-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                                            | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BF7<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    435000 | PA      | $433279.01    | 0.51%             | 2026-05-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AmeriCredit Automobile Receiva                                    | AmeriCredit Automobile Receivables Trust 2023-2                                  | CUSIP: 03065UAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     65327 | PA      | $65485.72     | 0.08%             | 2027-04-19      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                                 | State Street Corp                                                                | CUSIP: 857477CH4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    236000 | PA      | $237423.08    | 0.28%             | N/A             | Fixed         | 6.70%                 | No            |                  2 | On Loan: —       |
| Synchrony Card Issuance Trust                                     | Synchrony Card Funding LLC                                                       | CUSIP: 87166PAK7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     47000 | PA      | $47670.61     | 0.06%             | 2029-07-15      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                       | 2 YEAR U.S. TREASURY NOTE                                                        | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        65 | NC      | $148705.31    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Auto Receivables Trus                                    | M&T Bank Auto Receivables Trust 2024-1                                           | CUSIP: 55286TAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    287000 | PA      | $290943.70    | 0.34%             | 2032-02-17      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables                                     | Exeter Automobile Receivables Trust 2025-1                                       | CUSIP: 30167MAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    436000 | PA      | $439301.26    | 0.52%             | 2031-05-15      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| MetroNet Infrastructure Issuer                                    | MetroNet Infrastructure Issuer LLC                                               | CUSIP: 59170JAG3<br>LEI: 5493000BIROCAEATAQ61 | Long             | ABS-O            | CORP              | US        |     25000 | PA      | $25714.07     | 0.03%             | 2054-04-20      | Fixed         | 6.23%                 | No            |                  2 | On Loan: No      |
| Trinity Rail Leasing L.P.                                         | Trinity Rail Leasing 2020 LLC                                                    | CUSIP: 89656YAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     96762 | PA      | $92634.08     | 0.11%             | 2050-11-19      | Fixed         | 1.83%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                    | Morgan Stanley                                                                   | CUSIP: 61761JZN2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    310000 | PA      | $307613.76    | 0.36%             | 2027-04-23      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                                 | Magnetite XIX Ltd                                                                | CUSIP: 55954KAW5<br>LEI: 5493000OP4ZUZOOM1U45 | Long             | ABS-CBDO         | CORP              | KY        |    325000 | PA      | $323410.75    | 0.38%             | 2034-04-17      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                                 | Kinder Morgan Inc                                                                | CUSIP: 49456BBB6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |     77000 | PA      | $77758.73     | 0.09%             | 2030-06-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Blue Owl Asset Leasing Trust                                      | Blue Owl Asset Leasing Trust 2024-1 LLC                                          | CUSIP: 095921AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     88001 | PA      | $88192.22     | 0.10%             | 2029-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                     | TransDigm Inc                                                                    | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    352000 | PA      | $359513.09    | 0.43%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                               | American Express Co                                                              | CUSIP: 025816ED7<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    425000 | PA      | $429010.87    | 0.51%             | 2029-04-25      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| SFS Auto Receivables Securitiz                                    | SFS Auto Receivables Securitization Trust 2024-1                                 | CUSIP: 78435VAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     78000 | PA      | $78496.00     | 0.09%             | 2029-05-21      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                                              | Taylor Morrison Communities Inc                                                  | CUSIP: 87724RAA0<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    300000 | PA      | $301730.40    | 0.36%             | 2027-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                           | CarMax Auto Owner Trust 2021-3                                                   | CUSIP: 14317DAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $491635.55    | 0.58%             | 2027-05-17      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                              | Las Vegas Sands Corp                                                             | CUSIP: 517834AJ6<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    486000 | PA      | $492420.57    | 0.58%             | 2027-06-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                         | Boeing Co/The                                                                    | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    786000 | PA      | $770252.60    | 0.91%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                         | ONEOK Inc                                                                        | CUSIP: 682680CB7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    491000 | PA      | $488288.56    | 0.58%             | 2027-09-24      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust                                          | Octane Receivables Trust 2023-1                                                  | CUSIP: 67571BAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $302612.46    | 0.36%             | 2029-07-20      | Fixed         | 5.96%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                                  | Symphony CLO XV Ltd                                                              | CUSIP: 87154EBG4<br>LEI: 549300JNP1PJXORD0Y06 | Long             | ABS-CBDO         | CORP              | KY        |    550000 | PA      | $550416.35    | 0.65%             | 2032-01-17      | Floating      | 6.09%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                                           | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    263000 | PA      | $273571.81    | 0.32%             | 2028-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                          | Vistra Operations Co LLC                                                         | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    500000 | PA      | $496076.58    | 0.59%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Rec                                    | American Credit Acceptance Receivables Trust 2024-4                              | CUSIP: 024945AE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    316000 | PA      | $314901.11    | 0.37%             | 2031-08-12      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan                                     | New Residential Mortgage Loan Trust 2024-NQM3                                    | CUSIP: 647910AC2<br>LEI: 213800HBIGZVLLQA9I67 | Long             | ABS-MBS          | CORP              | US        |    109602 | PA      | $109902.30    | 0.13%             | 2064-11-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| KITE REALTY GROUP LP                                              | Kite Realty Group LP                                                             | CUSIP: 49803XAA1<br>LEI: 549300X6R2GYI8Y3OD81 | Long             | DBT              | CORP              | US        |    427000 | PA      | $422993.16    | 0.50%             | 2026-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issu                                    | GreenSky Home Improvement Trust 2024-1                                           | CUSIP: 39571MAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    182528 | PA      | $185413.08    | 0.22%             | 2059-06-25      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE / IRELAND DAC                                           | Aircastle Ltd / Aircastle Ireland DAC                                            | CUSIP: 00929JAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    430000 | PA      | $426549.05    | 0.51%             | 2030-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COPT DEFENSE PROP LP                                              | COPT Defense Properties LP                                                       | CUSIP: 22003BAL0<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |    369000 | PA      | $360092.97    | 0.43%             | 2026-03-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ITHACA ENERGY NORTH                                               | Ithaca Energy North Sea PLC                                                      | CUSIP: 46567TAC8<br>LEI: 213800BMMUN3AKWBIO91 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $401382.00    | 0.48%             | 2029-10-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| BENTELER INTERNATIONAL A                                          | Benteler International AG                                                        | CUSIP: 08263DAA4<br>LEI: 529900ZAFSOBVFCKF263 | Long             | DBT              | CORP              | AT        |    500000 | PA      | $511007.00    | 0.61%             | 2028-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: —       |
| CLEAR CHANNEL OUTDOOR HO                                          | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    265000 | PA      | $257914.51    | 0.31%             | 2027-08-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOB FUNDING                                           | Corebridge Global Funding                                                        | CUSIP: 00138CBC1<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |    485000 | PA      | $488747.57    | 0.58%             | 2029-12-03      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                          | Celanese US Holdings LLC                                                         | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    128000 | PA      | $129152.49    | 0.15%             | 2027-07-15      | Variable      | 6.42%                 | No            |                  2 | On Loan: —       |
| Hudson Yards                                                      | Hudson Yards 2025-SPRL Mortgage Trust                                            | CUSIP: 44855PAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $102903.42    | 0.12%             | 2040-01-13      | Variable      | 6.15%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                     | Carnival Corp                                                                    | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    250000 | PA      | $249304.00    | 0.30%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AXALTA COAT/DUTCH HLD BV                                          | Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV           | CUSIP: 05454NAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    350000 | PA      | $345914.67    | 0.41%             | 2027-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance T                                    | Regional Management Issuance Trust 2024-1                                        | CUSIP: 758983AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $102547.52    | 0.12%             | 2036-07-15      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Tru                                    | OneMain Financial Issuance Trust 2020-2                                          | CUSIP: 682696AA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $339655.72    | 0.40%             | 2035-09-14      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| World Omni Auto Receivables Tr                                    | World Omni Auto Receivables Trust 2024-C                                         | CUSIP: 98164NAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    130000 | PA      | $130602.51    | 0.15%             | 2029-12-17      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| VORNADO REALTY LP                                                 | Vornado Realty LP                                                                | CUSIP: 929043AK3<br>LEI: 549300BMOJ05INE4YK86 | Long             | DBT              | CORP              | US        |    180000 | PA      | $173603.83    | 0.21%             | 2026-06-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| SYSTEM ENERGY RESOURCES                                           | System Energy Resources Inc                                                      | CUSIP: 871911AU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $519250.59    | 0.62%             | 2028-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                                           | Asbury Automotive Group Inc                                                      | CUSIP: 043436AW4<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    535000 | PA      | $503726.38    | 0.60%             | 2029-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limit                                    | Bain Capital Credit CLO 2020-3 Ltd                                               | CUSIP: 05684CAW5<br>LEI: 2549002RK7W6TK0Q0E16 | Long             | ABS-CBDO         | CORP              | KY        |    350000 | PA      | $348608.05    | 0.41%             | 2034-10-23      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                             | Wells Fargo & Co                                                                 | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    300000 | PA      | $294836.76    | 0.35%             | N/A             | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| GM Financial Securitized Term                                     | GM Financial Consumer Automobile Receivables Trust 2022-1                        | CUSIP: 380146AF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    170000 | PA      | $166382.66    | 0.20%             | 2028-04-17      | Fixed         | 1.94%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                                               | Avantor Funding Inc                                                              | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    310000 | PA      | $298380.49    | 0.35%             | 2028-07-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TRUIST BANK                                                       | Truist Bank                                                                      | CUSIP: 07330MAC1<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |    450000 | PA      | $440613.40    | 0.52%             | 2029-09-17      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                          | OBX 2023-NQM2 Trust                                                              | CUSIP: 670843AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    306749 | PA      | $307633.33    | 0.36%             | 2062-01-25      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                    | Morgan Stanley                                                                   | CUSIP: 61747YFA8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    462000 | PA      | $469404.78    | 0.56%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance T                                    | Regional Management Issuance Trust 2024-2                                        | CUSIP: 75907AAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100783.02    | 0.12%             | 2033-12-15      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                                             | Williams Scotsman Inc                                                            | CUSIP: 96949VAM5<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |    192000 | PA      | $194775.55    | 0.23%             | 2029-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SABRA HEALTH CARE LP                                              | Sabra Health Care LP                                                             | CUSIP: 14162VAB2<br>LEI: 549300OVKLRFSIQG0H81 | Long             | DBT              | CORP              | US        |    425000 | PA      | $423090.97    | 0.50%             | 2026-08-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                                          | TK Elevator US Newco Inc                                                         | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    400000 | PA      | $394262.88    | 0.47%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                          | Angel Oak Mortgage Trust 2024-3                                                  | CUSIP: 03466HAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     43694 | PA      | $43232.23     | 0.05%             | 2068-11-26      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                                           | Global Partners LP / GLP Finance Corp                                            | CUSIP: 37954FAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $496847.30    | 0.59%             | 2027-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Collateralized Lo                                    | Arbor Realty Commercial Real Estate Notes 2021-FL4 Ltd                           | CUSIP: 03880RAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    263165 | PA      | $263205.12    | 0.31%             | 2036-11-15      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| BXHPP Trust                                                       | BXHPP Trust 2021-FILM                                                            | CUSIP: 05609JAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $413899.88    | 0.49%             | 2036-08-15      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                    | Bombardier Inc                                                                   | CUSIP: 097751BX8<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    225000 | PA      | $222736.57    | 0.26%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                                          | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $398917.12    | 0.47%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Dominos Pizza Master Issuer LL                                    | Domino's Pizza Master Issuer LLC                                                 | CUSIP: 25755TAN0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    277162 | PA      | $258497.88    | 0.31%             | 2051-04-25      | Fixed         | 2.66%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                                                  | FirstEnergy Corp                                                                 | CUSIP: 337932AH0<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    400000 | PA      | $395491.10    | 0.47%             | 2027-07-15      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                                           | CF Hippolyta Issuer LLC                                                          | CUSIP: 12530MAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    346289 | PA      | $342075.51    | 0.41%             | 2060-07-15      | Fixed         | 1.69%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                                              | COLOMBIA GOVERNMENT INTERNATIONAL BOND                                           | CUSIP: 195325ER2<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    206000 | PA      | $209429.98    | 0.25%             | 2030-04-25      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Auxilior Term Funding LLC                                         | Auxilior Term Funding 2023-1 LLC                                                 | CUSIP: 05335JAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     57327 | PA      | $57834.41     | 0.07%             | 2028-12-15      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                              | Cross 2024-H3 Mortgage Trust                                                     | CUSIP: 22758DAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    134690 | PA      | $136301.47    | 0.16%             | 2069-06-25      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                    | Carvana Auto Receivables Trust 2021-P1                                           | CUSIP: 14687BAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    230000 | PA      | $226052.81    | 0.27%             | 2027-01-11      | Fixed         | 1.19%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                                                     | United States Treasury Bill                                                      | CUSIP: 912797ND5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1250000 | PA      | $1250000.00   | 1.48%             | 2025-05-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                                      | Hilton Grand Vacations Trust 2022-2                                              | CUSIP: 43283GAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     41482 | PA      | $41286.68     | 0.05%             | 2037-01-25      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                                            | GE HealthCare Technologies Inc                                                   | CUSIP: 36266GAA5<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    113000 | PA      | $113851.94    | 0.13%             | 2029-08-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                                          | South Bow USA Infrastructure Holdings LLC                                        | CUSIP: 83007CAA0<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    176000 | PA      | $176944.09    | 0.21%             | 2027-09-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                                   | SBA Tower Trust                                                                  | CUSIP: 78403DAP5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $269200.17    | 0.32%             | 2026-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| CyrusOne Data Centers Issuer I                                    | CyrusOne Data Centers Issuer I LLC                                               | CUSIP: 23284BAJ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     65000 | PA      | $66481.88     | 0.08%             | 2050-02-20      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| CITGO PETROLEUM CORP                                              | CITGO Petroleum Corp                                                             | CUSIP: 17302XAN6<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |    209000 | PA      | $209384.77    | 0.25%             | 2029-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BOF URSA FUNDING                                                  | Bayview Opportunity Master Fund VII Trust 2024-SN1                               | CUSIP: 072926AE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     59000 | PA      | $59906.31     | 0.07%             | 2028-12-15      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                              | Cross 2024-H2 Mortgage Trust                                                     | CUSIP: 22757BAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     39168 | PA      | $39489.56     | 0.05%             | 2069-04-25      | Variable      | 6.52%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                       | BNP Paribas SA                                                                   | CUSIP: 05581LAC3<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    325000 | PA      | $324259.76    | 0.38%             | 2027-03-13      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                                      | SM Energy Co                                                                     | CUSIP: 78454LAX8<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    341000 | PA      | $318891.03    | 0.38%             | 2029-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| Fortress Credit Opportunities                                     | Fortress Credit Opportunities XXXI CLO Ltd                                       | CUSIP: 34990GAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $299245.80    | 0.35%             | 2033-07-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                                        | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1025.09      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| XCEL ENERGY INC                                                   | Xcel Energy Inc                                                                  | CUSIP: 98389BBD1<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |    430000 | PA      | $433571.14    | 0.51%             | 2028-03-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                    | Ginnie Mae II Pool                                                               | CUSIP: 36202DKY6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |        33 | PA      | $34.65        | 0.00%             | 2030-12-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                    | Carvana Auto Receivables Trust 2021-N1                                           | CUSIP: 14687DAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    119590 | PA      | $116527.83    | 0.14%             | 2028-01-10      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl                                    | Santander Drive Auto Receivables Trust 2025-2                                    | CUSIP: 80287NAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    224000 | PA      | $226226.29    | 0.27%             | 2031-05-15      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| Ally Auto Receivables Trust                                       | Ally Auto Receivables Trust 2024-1                                               | CUSIP: 02008FAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    172000 | PA      | $173162.20    | 0.21%             | 2028-12-15      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                              | Cross 2024-H2 Mortgage Trust                                                     | CUSIP: 22757BAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     39168 | PA      | $39536.75     | 0.05%             | 2069-04-25      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                                           | Avis Budget Car Rental LLC / Avis Budget Finance Inc                             | CUSIP: 053773BC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $291822.13    | 0.35%             | 2027-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                                                     | Ballyrock CLO 2020-2 Ltd                                                         | CUSIP: 05875DAJ1<br>LEI: 254900Y6C4AXEAZ9T124 | Long             | ABS-CBDO         | CORP              | KY        |    194607 | PA      | $194662.34    | 0.23%             | 2031-10-20      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issu                                    | GreenSky Home Improvement Issuer Trust 2024-2                                    | CUSIP: 39571XAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     79147 | PA      | $79581.14     | 0.09%             | 2059-10-27      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                          | Hess Midstream Operations LP                                                     | CUSIP: 428102AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     66000 | PA      | $67091.60     | 0.08%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl                                    | Santander Drive Auto Receivables Trust 2025-1                                    | CUSIP: 80288DAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    165000 | PA      | $166776.09    | 0.20%             | 2031-03-17      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                          | Ford Motor Credit Co LLC                                                         | CUSIP: 345397ZW6<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $492063.61    | 0.58%             | 2026-08-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl                                    | Santander Drive Auto Receivables Trust 2022-5                                    | CUSIP: 80287HAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    283044 | PA      | $283003.19    | 0.34%             | 2028-10-16      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                          | Ford Motor Credit Co LLC                                                         | CUSIP: 345397G72<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    230000 | PA      | $228702.43    | 0.27%             | 2028-03-20      | Fixed         | 5.92%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                  | COLT 2025-3 Mortgage Loan Trust                                                  | CUSIP: 12674LAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     98429 | PA      | $98393.96     | 0.12%             | 2070-03-25      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                                     | DTE Energy Co                                                                    | CUSIP: 233331BM8<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |    427000 | PA      | $431475.37    | 0.51%             | 2027-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| AVIANCA MIDCO 2 PLC                                               | Avianca Midco 2 PLC                                                              | CUSIP: 05369YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    400000 | PA      | $349752.00    | 0.41%             | 2030-02-14      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                                           | Global Partners LP / GLP Finance Corp                                            | CUSIP: 37954FAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    254000 | PA      | $253492.38    | 0.30%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ROLLS-ROYCE PLC                                                   | Rolls-Royce PLC                                                                  | CUSIP: 77578JAC2<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |    470000 | PA      | $482438.55    | 0.57%             | 2027-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                                    | Enterprise Fleet Financing 2022-3 LLC                                            | CUSIP: 29374FAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     25934 | PA      | $25896.92     | 0.03%             | 2029-07-20      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| VENTAS REALTY LP                                                  | Ventas Realty LP                                                                 | CUSIP: 92277GAN7<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              | CORP              | US        |    430000 | PA      | $426593.68    | 0.51%             | 2029-01-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Fannie Mae REMICS                                                                | CUSIP: 3136ACSD4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     20892 | PA      | $20592.82     | 0.02%             | 2033-03-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                        | Verus Securitization Trust 2024-9                                                | CUSIP: 92540RAC8<br>LEI: 213800LFRCPWSTP6LX39 | Long             | ABS-MBS          | CORP              | US        |     96342 | PA      | $96429.83     | 0.11%             | 2069-11-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan                                     | New Residential Mortgage Loan Trust 2022-NQM1                                    | CUSIP: 64830JAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    426244 | PA      | $378679.05    | 0.45%             | 2061-04-25      | Variable      | 2.28%                 | No            |                  2 | On Loan: No      |
| STORE CAPITAL LLC                                                 | Store Capital LLC                                                                | CUSIP: 862123AA4<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              | CORP              | US        |    210000 | PA      | $209593.19    | 0.25%             | 2030-04-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                                              | Verizon Master Trust                                                             | CUSIP: 92348KCP6<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |    386000 | PA      | $387322.44    | 0.46%             | 2028-12-20      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                    | Ginnie Mae II Pool                                                               | CUSIP: 36202DEL1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |        66 | PA      | $68.27        | 0.00%             | 2029-11-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                 | Iron Mountain Inc                                                                | CUSIP: 46284VAF8<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    225000 | PA      | $216957.99    | 0.26%             | 2029-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables                                     | Exeter Automobile Receivables Trust 2024-3                                       | CUSIP: 30165AAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     81000 | PA      | $82139.20     | 0.10%             | 2029-07-16      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                    | Ginnie Mae II Pool                                                               | CUSIP: 36202DKX8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       232 | PA      | $238.32       | 0.00%             | 2030-12-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                    | Carvana Auto Receivables Trust 2022-P3                                           | CUSIP: 14686MAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    238000 | PA      | $242248.80    | 0.29%             | 2028-11-10      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| MVW 2020-1 LLC                                                    | MVW 2020-1 LLC                                                                   | CUSIP: 55400EAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     38847 | PA      | $37601.66     | 0.04%             | 2037-10-20      | Fixed         | 1.74%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                                                | VICI Properties LP                                                               | CUSIP: 925650AJ2<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |     78000 | PA      | $78061.26     | 0.09%             | 2028-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SLST                                                | Seasoned Loans Structured Transaction Series 2018-2                              | CUSIP: 35564CAN7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     46196 | PA      | $45016.96     | 0.05%             | 2028-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                | Energy Transfer LP                                                               | CUSIP: 29273VAP5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    453000 | PA      | $464379.62    | 0.55%             | 2028-02-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Evergreen Credit Card Trust                                       | Evergreen Credit Card Trust                                                      | CUSIP: 30023JCX4<br>LEI: 5493002G9KVV6J3CNU15 | Long             | ABS-O            | CORP              | CA        |    100000 | PA      | $101332.62    | 0.12%             | 2029-05-15      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                                               | Braskem Netherlands Finance BV                                                   | CUSIP: 10554TAB1<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $450091.25    | 0.53%             | 2028-01-10      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| EPR PROPERTIES                                                    | EPR Properties                                                                   | CUSIP: 26884UAC3<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |    430000 | PA      | $426429.61    | 0.51%             | 2026-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                              | Cross 2025-H2 Mortgage Trust                                                     | CUSIP: 22758PAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    114707 | PA      | $114873.27    | 0.14%             | 2070-03-25      | Variable      | 5.46%                 | No            |                  2 | On Loan: No      |
| Natixis Commercial Mortgage Se                                    | Natixis Commercial Mortgage Securities Trust 2020-2PAC                           | CUSIP: 63875DAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    172355 | PA      | $162333.06    | 0.19%             | 2038-12-15      | Fixed         | 2.97%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                                      | Enbridge Inc                                                                     | CUSIP: 29250NBX2<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $418717.34    | 0.50%             | 2028-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                                            | Millicom International Cellular SA                                               | CUSIP: 600814AN7<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    495000 | PA      | $483244.15    | 0.57%             | 2028-01-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL GAME TECH                                           | International Game Technology PLC                                                | CUSIP: 460599AE3<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    440000 | PA      | $430587.34    | 0.51%             | 2029-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| TREASURY BILL                                                     | United States Treasury Bill                                                      | CUSIP: 912797LW5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2100000 | PA      | $2082910.43   | 2.47%             | 2025-07-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                                  | Ryder System Inc                                                                 | CUSIP: 78355HLF4<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |    338000 | PA      | $338910.14    | 0.40%             | 2030-06-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/F                                    | Ford Credit Auto Owner Trust 2020-REV2                                           | CUSIP: 34532JAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    375000 | PA      | $369296.81    | 0.44%             | 2033-04-15      | Fixed         | 1.49%                 | No            |                  2 | On Loan: No      |
| WPC EUROBOND BV                                                   | WPC Eurobond BV                                                                  | CUSIP: 000000000<br>LEI: 5493005XDMOLBARL5M14 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $325031.37    | 0.39%             | 2028-04-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                          | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                        | CUSIP: 00774MBJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    450000 | PA      | $455065.08    | 0.54%             | 2029-01-19      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Vantage Data Centers LLC                                          | Vantage Data Centers LLC                                                         | CUSIP: 92212KAC0<br>LEI: 5493000RL8X7WTQ7HO20 | Long             | ABS-O            | CORP              | US        |    414000 | PA      | $385616.62    | 0.46%             | 2045-09-15      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| AZULE ENERGY FINANCE PLC                                          | Azule Energy Finance Plc                                                         | CUSIP: 05501YAA6<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $192840.00    | 0.23%             | 2030-01-23      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                          | OBX 2024-NQM18 Trust                                                             | CUSIP: 673913AA7<br>LEI: 254900NK9PNLY9I00149 | Long             | ABS-MBS          | CORP              | US        |     91971 | PA      | $92148.63     | 0.11%             | 2064-10-25      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                                           | Light & Wonder International Inc                                                 | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    300000 | PA      | $306152.10    | 0.36%             | 2029-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                     | Citigroup Inc                                                                    | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    363000 | PA      | $355886.70    | 0.42%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINE HOLDCO                                          | Columbia Pipelines Holding Co LLC                                                | CUSIP: 19828AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $507202.24    | 0.60%             | 2026-08-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga                                    | MF1 2022-FL8 Ltd                                                                 | CUSIP: 55284JAC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    375000 | PA      | $373829.72    | 0.44%             | 2037-02-19      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                                    | BRAVO Residential Funding Trust 2023-NQM5                                        | CUSIP: 10569UAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    102906 | PA      | $104008.64    | 0.12%             | 2063-06-25      | Variable      | 6.86%                 | No            |                  2 | On Loan: No      |
| CANPACK SA/CANPACK US                                             | Canpack SA / Canpack US LLC                                                      | CUSIP: 13806CAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    250000 | PA      | $229097.10    | 0.27%             | 2029-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables                                     | Exeter Automobile Receivables Trust 2024-5                                       | CUSIP: 30165BAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     51000 | PA      | $50910.87     | 0.06%             | 2028-03-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| CyrusOne Data Centers Issuer I                                    | CyrusOne Data Centers Issuer I LLC                                               | CUSIP: 23284BAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     88442 | PA      | $86255.69     | 0.10%             | 2048-04-20      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Freddie Mac REMICS                                                               | CUSIP: 3137ATEW8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18999 | PA      | $18824.57     | 0.02%             | 2040-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Secu                                    | JPMBB Commercial Mortgage Securities Trust 2015-C30                              | CUSIP: 46644UAZ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     60650 | PA      | $60468.52     | 0.07%             | 2048-07-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                          | Univision Communications Inc                                                     | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    258000 | PA      | $250852.73    | 0.30%             | 2028-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SFS Auto Receivables Securitiz                                    | SFS Auto Receivables Securitization Trust 2023-1                                 | CUSIP: 78398AAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2644 | PA      | $2645.70      | 0.00%             | 2027-03-22      | Fixed         | 5.89%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL GAME TECH                                           | International Game Technology PLC                                                | CUSIP: 460599AF0<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    430000 | PA      | $424769.20    | 0.50%             | 2026-04-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                      | UBS Group AG                                                                     | CUSIP: 225401AY4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    350000 | PA      | $351007.18    | 0.42%             | 2026-07-15      | Fixed         | 6.37%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US                                     | Goldentree Loan Management US Clo 14 Ltd                                         | CUSIP: 38136RAQ0<br>LEI: 549300QXPI5JCSVZ9W25 | Long             | ABS-CBDO         | CORP              | JE        |    187500 | PA      | $187559.63    | 0.22%             | 2037-07-20      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| STORE CAPITAL LLC                                                 | Store Capital LLC                                                                | CUSIP: 862121AB6<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              | CORP              | US        |    220000 | PA      | $214549.69    | 0.25%             | 2029-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                  | COLT 2023-3 Mortgage Loan Trust                                                  | CUSIP: 19688RAB5<br>LEI: 213800MIPEZY1A8W1N28 | Long             | ABS-MBS          | CORP              | US        |     98908 | PA      | $100476.71    | 0.12%             | 2068-09-25      | Variable      | 7.43%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust                                          | Octane Receivables Trust 2023-3                                                  | CUSIP: 67571CAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    121520 | PA      | $122543.07    | 0.15%             | 2029-03-20      | Fixed         | 6.44%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                                             | Huntington Bancshares Inc/OH                                                     | CUSIP: 446150BE3<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    276000 | PA      | $278163.35    | 0.33%             | 2031-01-15      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| Ford Auto Securitization Trust                                    | Ford Auto Securitization Trust II Series 2022-A Asset-Backed Notes               | CUSIP: 345214AE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |    626000 | PA      | $466121.62    | 0.55%             | 2028-09-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET                                          | Smyrna Ready Mix Concrete LLC                                                    | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |    300000 | PA      | $293457.93    | 0.35%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                                              | Glencore Funding LLC                                                             | CUSIP: 378272BZ0<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    187000 | PA      | $189401.93    | 0.22%             | 2030-04-01      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| NY Commercial Mortgage Trust                                      | NY Commercial Mortgage Trust 2025-299P                                           | CUSIP: 62957FAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $103295.92    | 0.12%             | 2047-02-10      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                            | General Motors Financial Co Inc                                                  | CUSIP: 37045XCG9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    400000 | PA      | $388333.26    | 0.46%             | 2028-01-05      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                                     | Citigroup Commercial Mortgage Trust 2014-GC25                                    | CUSIP: 17322YAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    102759 | PA      | $99649.75     | 0.12%             | 2047-10-10      | Variable      | 4.34%                 | No            |                  2 | On Loan: No      |
| CROWN AMER/CAP CORP VI                                            | Crown Americas LLC / Crown Americas Capital Corp VI                              | CUSIP: 228187AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $189085.72    | 0.22%             | 2026-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                                   | SBA Tower Trust                                                                  | CUSIP: 78403DAV2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $475110.20    | 0.56%             | 2027-04-15      | Fixed         | 1.84%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                            | Venture Global LNG Inc                                                           | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    410000 | PA      | $407508.76    | 0.48%             | 2028-06-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                                        | Affirm Asset Securitization Trust 2024-A                                         | CUSIP: 00834BAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    330000 | PA      | $331463.88    | 0.39%             | 2029-02-15      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                 | Herc Holdings Inc                                                                | CUSIP: 42704LAE4<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    415000 | PA      | $410462.76    | 0.49%             | 2029-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: —       |
| SCF Equipment Trust Llc                                           | SCF Equipment Trust 2016-1 LLC                                                   | CUSIP: 78437DAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101920.00    | 0.12%             | 2033-11-21      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Iss                                    | New Economy Assets - Phase 1 Sponsor LLC                                         | CUSIP: 643821AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1125000 | PA      | $1057359.83   | 1.25%             | 2061-10-20      | Fixed         | 1.91%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                                          | Electricite de France SA                                                         | CUSIP: 28504DAB9<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    457000 | PA      | $471702.43    | 0.56%             | 2028-05-23      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                                              | Chart Industries Inc                                                             | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |    300000 | PA      | $311621.54    | 0.37%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                           | Romanian Government International Bond                                           | CUSIP: 77586RAN0<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    350000 | PA      | $347858.64    | 0.41%             | 2027-11-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                               | Petroleos Mexicanos                                                              | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    220000 | PA      | $215091.05    | 0.25%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD                                          | Macquarie Airfinance Holdings Ltd                                                | CUSIP: 55609NAF5<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    188000 | PA      | $187864.83    | 0.22%             | 2028-03-27      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| U.S. Bank National Association                                    | US Bank NA                                                                       | CUSIP: 90357PAV6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    103211 | PA      | $104581.74    | 0.12%             | 2032-08-25      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                               | Sirius XM Radio LLC                                                              | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    500000 | PA      | $494437.55    | 0.59%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                                     | GS Mortgage-Backed Securities Trust 2024-HE1                                     | CUSIP: 36270AAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    283271 | PA      | $283175.03    | 0.34%             | 2054-08-25      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                              | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AH4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    500000 | PA      | $493769.55    | 0.59%             | 2027-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| ONEOK INC                                                         | ONEOK Inc                                                                        | CUSIP: 682680BJ1<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    422000 | PA      | $435215.14    | 0.52%             | 2028-11-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Vantage Data Centers LLC                                          | Vantage Data Centers Issuer LLC                                                  | CUSIP: 92212KAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $239488.75    | 0.28%             | 2046-10-15      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| Capital One Prime Auto Receiva                                    | Capital One Prime Auto Receivables Trust 2022-2                                  | CUSIP: 14043GAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    144891 | PA      | $144229.11    | 0.17%             | 2027-05-17      | Fixed         | 3.66%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                            | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    500000 | PA      | $498719.75    | 0.59%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                                                | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2020-3                    | CUSIP: 35563PSU4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     72487 | PA      | $66992.68     | 0.08%             | 2060-05-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| TENNECO INC                                                       | Tenneco Inc                                                                      | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |    220000 | PA      | $210385.74    | 0.25%             | 2028-11-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                         | Towd Point Mortgage Trust 2023-1                                                 | CUSIP: 89181JAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     80805 | PA      | $77813.75     | 0.09%             | 2063-01-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PenFed Auto Receivables Owner                                     | PenFed Auto Receivables Owner Trust 2022-A                                       | CUSIP: 706874AF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1000721.40   | 1.19%             | 2028-12-15      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                                              | Verizon Master Trust                                                             | CUSIP: 92348KDU4<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |    146000 | PA      | $147587.28    | 0.17%             | 2031-01-21      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                              | Cross 2025-H2 Mortgage Trust                                                     | CUSIP: 22758PAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     98886 | PA      | $99027.98     | 0.12%             | 2070-03-25      | Variable      | 5.36%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                      | Dell Equipment Finance Trust 2023-1                                              | CUSIP: 24702HAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    154488 | PA      | $154936.87    | 0.18%             | 2028-09-22      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                    | Carvana Auto Receivables Trust 2020-P1                                           | CUSIP: 14687AAR9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425000 | PA      | $417580.48    | 0.49%             | 2026-11-09      | Fixed         | 1.32%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables                                     | Exeter Automobile Receivables Trust 2023-4                                       | CUSIP: 30166TAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    130058 | PA      | $130404.85    | 0.15%             | 2027-10-15      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| SNF GROUP SACA                                                    | SNF Group SACA                                                                   | CUSIP: 7846ELAD9<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $237438.50    | 0.28%             | 2027-03-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| DataBank Issuer LLC                                               | DataBank Issuer                                                                  | CUSIP: 23802WAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    270000 | PA      | $264496.51    | 0.31%             | 2053-02-25      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Tesla Electric Vehicle Trust                                      | Tesla Electric Vehicle Trust 2023-1                                              | CUSIP: 881943AD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     87000 | PA      | $87899.55     | 0.10%             | 2028-06-20      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                           | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    645000 | PA      | $645746.27    | 0.77%             | 2026-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                                          | Citizens Financial Group Inc                                                     | CUSIP: 174610BF1<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    213000 | PA      | $218093.41    | 0.26%             | 2030-01-23      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                           | EUR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-409.10      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Freddie Mac REMICS                                                               | CUSIP: 3137F7T21<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    276495 | PA      | $256869.96    | 0.30%             | 2039-07-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Merchants Fleet Funding LLC                                       | Merchants Fleet Funding LLC                                                      | CUSIP: 588926AJ4<br>LEI: 254900Z2OOQUA5IN2X83 | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $152372.07    | 0.18%             | 2037-04-20      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                                           | NYMT Loan Trust Series 2024-BPL2                                                 | CUSIP: 67120TAA8<br>LEI: 254900HCG7N4R7AWFZ60 | Long             | ABS-MBS          | CORP              | US        |    235000 | PA      | $237518.35    | 0.28%             | 2039-05-25      | Variable      | 6.51%                 | No            |                  2 | On Loan: No      |
| RIN Ltd                                                           | RIN IV Ltd                                                                       | CUSIP: 76679AAA5<br>LEI: 254900JSRA1L5KTTDV39 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250071.00    | 0.30%             | 2033-04-20      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                                         | Chesapeake Funding II LLC                                                        | CUSIP: 165183CZ5<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |     56306 | PA      | $57118.33     | 0.07%             | 2035-10-15      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| AmeriCredit Automobile Receiva                                    | AmeriCredit Automobile Receivables Trust 2022-2                                  | CUSIP: 03065WAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    214000 | PA      | $213862.01    | 0.25%             | 2028-04-18      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| AIR CANADA                                                        | Air Canada                                                                       | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |    528000 | PA      | $518519.75    | 0.61%             | 2026-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Imperial Fund LLC                                                 | Imperial Fund Mortgage Trust 2023-NQM1                                           | CUSIP: 45290BAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    323255 | PA      | $325041.16    | 0.39%             | 2068-02-25      | Variable      | 7.16%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                          | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |     55000 | PA      | $56006.50     | 0.07%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| ENEL FINANCE INTL NV                                              | Enel Finance International NV                                                    | CUSIP: 29278GBD9<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $203162.72    | 0.24%             | 2029-06-26      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                                    | Avis Budget Rental Car Funding AESOP LLC                                         | CUSIP: 05377RGU2<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    385000 | PA      | $390164.24    | 0.46%             | 2028-02-22      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| OSCAR US Funding Trust                                            | Oscar US Funding XVI LLC                                                         | CUSIP: 68784GAC7<br>LEI: 3538004TGTV49T7RNL88 | Long             | ABS-O            | CORP              | JP        |    143000 | PA      | $144758.82    | 0.17%             | 2028-02-10      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| Securitized Term Auto Receivab                                    | Securitized Term Auto Receivables Trust                                          | CUSIP: 81378RAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |    191520 | PA      | $192926.32    | 0.23%             | 2031-07-25      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                                             | Toorak Mortgage Trust 2025-RRTL1                                                 | CUSIP: 89053JAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140071 | PA      | $140019.83    | 0.17%             | 2040-02-25      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| CVR ENERGY INC                                                    | CVR Energy Inc                                                                   | CUSIP: 12662PAD0<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |    500000 | PA      | $456916.40    | 0.54%             | 2028-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                              | Bank of America Corp                                                             | CUSIP: 06051GGC7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    450000 | PA      | $447723.81    | 0.53%             | 2027-11-25      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/F                                    | Ford Credit Auto Owner Trust 2021-REV1                                           | CUSIP: 345340AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    202000 | PA      | $196091.90    | 0.23%             | 2033-10-17      | Fixed         | 1.91%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust                                    | Hyundai Auto Receivables Trust 2022-C                                            | CUSIP: 44933DAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    333000 | PA      | $336913.02    | 0.40%             | 2028-10-16      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                                     | Boeing Co/The                                                                    | CUSIP: 097023DQ5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    576000 | PA      | $606066.72    | 0.72%             | 2029-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Antares CLO                                                       | Antares CLO 2020-1 Ltd                                                           | CUSIP: 03666LAL6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    350000 | PA      | $350437.50    | 0.42%             | 2033-10-23      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga                                    | MF1 2021-FL7 Ltd                                                                 | CUSIP: 55284AAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $493670.98    | 0.58%             | 2036-10-16      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                          | Occidental Petroleum Corp                                                        | CUSIP: 674599EC5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    300000 | PA      | $308146.20    | 0.37%             | 2028-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                       | RCKT Mortgage Trust 2024-CES2                                                    | CUSIP: 74938PAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    231276 | PA      | $233379.16    | 0.28%             | 2044-04-25      | Variable      | 6.29%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                                    | Avis Budget Rental Car Funding AESOP LLC                                         | CUSIP: 05377RDU5<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    160000 | PA      | $159292.70    | 0.19%             | 2026-08-20      | Fixed         | 2.33%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                    | Carvana Auto Receivables Trust 2021-P4                                           | CUSIP: 14687KAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125000 | PA      | $119870.01    | 0.14%             | 2028-02-10      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                                          | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $392309.00    | 0.46%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                        | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-17120.45    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BSREP Commercial Mortgage Trus                                    | BSREP Commercial Mortgage Trust 2021-DC                                          | CUSIP: 05591UAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    426060 | PA      | $355227.58    | 0.42%             | 2038-08-15      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| ALUMINA PTY LTD                                                   | Alumina Pty Ltd                                                                  | CUSIP: 02220AAA5<br>LEI: 2138002VD9MW2WT8HR38 | Long             | DBT              | CORP              | AU        |    215000 | PA      | $213440.02    | 0.25%             | 2030-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CLI Funding LLC                                                   | CLI Funding VI LLC                                                               | CUSIP: 12563LAS6<br>LEI: 549300NQLBWJD5AREU05 | Long             | ABS-O            | CORP              | US        |    164667 | PA      | $152785.56    | 0.18%             | 2045-10-18      | Fixed         | 2.07%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner                                     | Toyota Auto Receivables 2022-D Owner Trust                                       | CUSIP: 89239HAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    367855 | PA      | $369468.41    | 0.44%             | 2027-09-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                             | Caesars Entertainment Inc                                                        | CUSIP: 28470RAK8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90342.99     | 0.11%             | 2027-07-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                             | WELLS FARGO & CO                                                                 | CUSIP: 95000U3T8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    418000 | PA      | $423340.59    | 0.50%             | 2029-04-23      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                                                     | AEP Texas Inc                                                                    | CUSIP: 00108WAS9<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |    491000 | PA      | $503574.16    | 0.60%             | 2029-05-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| OneMain Direct Auto Receivable                                    | OneMain Direct Auto Receivables Trust 2019-1                                     | CUSIP: 68267EAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $397154.44    | 0.47%             | 2028-11-14      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                          | Ford Motor Credit Co LLC                                                         | CUSIP: 345397D83<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    275000 | PA      | $273524.46    | 0.32%             | 2027-03-05      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| WE SODA INV HOLDING PLC                                           | WE Soda Investments Holding PLC                                                  | CUSIP: 92943TAA1<br>LEI: 984500SE38C07DB47A90 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $256117.50    | 0.30%             | 2028-10-06      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                   | CDS ITRAXX.EU.XO.42.V1                                                           | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-65155.81    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| HUNGARY                                                           | Hungary Government International Bond                                            | CUSIP: 445545AR7<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    200000 | PA      | $205836.40    | 0.24%             | 2028-05-22      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                               | Southern California Edison Co                                                    | CUSIP: 842400JJ3<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     47000 | PA      | $47475.06     | 0.06%             | 2030-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DataBank Issuer LLC                                               | DataBank Issuer                                                                  | CUSIP: 23802WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $291918.00    | 0.35%             | 2051-02-27      | Fixed         | 2.06%                 | No            |                  2 | On Loan: No      |
| Tricon American Homes                                             | Tricon American Homes 2019-SFR1 Trust                                            | CUSIP: 89612LAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    319552 | PA      | $315322.52    | 0.37%             | 2038-03-17      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| SUNRISE HOLDCO IV BV                                              | Sunrise HoldCo IV BV                                                             | CUSIP: 90320LAG2<br>LEI: 213800G1DU7LKI6ZCD69 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $490493.85    | 0.58%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                    | Ginnie Mae II Pool                                                               | CUSIP: 36202DHK0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       766 | PA      | $794.07       | 0.00%             | 2030-06-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DREYFUS INSTITUTIONAL PREFERRE                                    | DREYFUS INSTITUTIONAL PREFERRED GOVERNMENT PLUS MONEY MARKET FUND                | CUSIP: 000000000<br>LEI: 549300RBWL04JG8SIX57 | Long             | STIV             | RF                | US        |    725147 | NS      | $725147.17    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Credit Auto Owner Trust                                      | Ford Credit Auto Owner Trust 2022-C                                              | CUSIP: 34535AAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    325000 | PA      | $327385.57    | 0.39%             | 2030-03-15      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE FLEET FINANCING LLC                                    | ENTERPRISE FLEET FINANCING 2025-2 LLC                                            | CUSIP: 29375TAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     73000 | PA      | $73073.77     | 0.09%             | 2029-06-20      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| AUTOZONE INC                                                      | AutoZone Inc                                                                     | CUSIP: 053332AZ5<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |    200000 | PA      | $194323.69    | 0.23%             | 2030-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| MONTREAL EXCHANGE INC.                                            | CAN 5YR BOND                                                                     | CUSIP: 000000000<br>LEI: 549300DKBYNOI0B1NP44 | N/A              | DIR              | CORP              | CA        |        -2 | NC      | $-1843.51     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| NISOURCE INC                                                      | NiSource Inc                                                                     | CUSIP: 65473PAN5<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    230000 | PA      | $235096.28    | 0.28%             | 2028-03-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SFS Auto Receivables Securitiz                                    | SFS Auto Receivables Securitization Trust 2023-1                                 | CUSIP: 78398AAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    205000 | PA      | $206579.69    | 0.24%             | 2028-10-20      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                            | Williams Cos Inc/The                                                             | CUSIP: 96949LAD7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    275000 | PA      | $270944.83    | 0.32%             | 2027-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                            | Santander Holdings USA Inc                                                       | CUSIP: 80282KBF2<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    339000 | PA      | $351659.30    | 0.42%             | 2029-03-09      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                    | Carvana Auto Receivables Trust 2021-N2                                           | CUSIP: 14686KAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     54487 | PA      | $52750.75     | 0.06%             | 2028-03-10      | Fixed         | 1.07%                 | No            |                  2 | On Loan: No      |
| Textainer Marine Containers Li                                    | Textainer Marine Containers VII Ltd                                              | CUSIP: 88315LAL2<br>LEI: 549300X48KLHDDGPK024 | Long             | ABS-O            | CORP              | BM        |    233333 | PA      | $213798.83    | 0.25%             | 2046-02-20      | Fixed         | 1.68%                 | No            |                  2 | On Loan: No      |
| Triumph Rail LLC                                                  | Triumph Rail Holdings LLC                                                        | CUSIP: 89683LAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    263632 | PA      | $247843.65    | 0.29%             | 2051-06-19      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                                           | GLP Capital LP / GLP Financing II Inc                                            | CUSIP: 361841AH2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    710000 | PA      | $708659.02    | 0.84%             | 2026-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan                                     | NEW Residential Mortgage Loan Trust 2025-Nqm2                                    | CUSIP: 64831XAC2<br>LEI: 2138006ZAYPD4ZHQYX81 | Long             | ABS-MBS          | CORP              | US        |    244483 | PA      | $246257.70    | 0.29%             | 2065-05-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                           | Dryden 41 Senior Loan Fund                                                       | CUSIP: 26244KAN6<br>LEI: 5493000CMI5L15ZSNM78 | Long             | ABS-CBDO         | CORP              | KY        |     95549 | PA      | $95572.86     | 0.11%             | 2031-04-15      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                                        | EUR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-17207.30    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                           | Goldman Sachs Group Inc/The                                                      | CUSIP: 38144GAE1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    350000 | PA      | $338240.28    | 0.40%             | N/A             | Fixed         | 3.80%                 | No            |                  2 | On Loan: —       |
| Apidos CLO Ltd                                                    | Apidos Clo Xxv                                                                   | CUSIP: 03762YBB2<br>LEI: 254900C9NN5XS59HZV73 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250124.00    | 0.30%             | 2037-01-20      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                                    | Wells Fargo Commercial Mortgage Trust 2021-SAVE                                  | CUSIP: 95003LAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     52341 | PA      | $52333.32     | 0.06%             | 2040-02-15      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                          | Hess Midstream Operations LP                                                     | CUSIP: 428102AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    268000 | PA      | $268787.12    | 0.32%             | 2028-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ClickLease Equipment Receivabl                                    | ClickLease Equipment Receivables 2024-1 Trust                                    | CUSIP: 18682FAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    375000 | PA      | $377693.03    | 0.45%             | 2030-02-15      | Fixed         | 7.34%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                    | Government National Mortgage Association                                         | CUSIP: 38383U3L2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    493053 | PA      | $498585.19    | 0.59%             | 2051-06-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Volvo Financial Equipment LLC                                     | Volvo Financial Equipment LLC Series 2024-1                                      | CUSIP: 92887QAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    147000 | PA      | $146961.21    | 0.17%             | 2028-10-16      | Fixed         | 4.29%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                                            | Sunoco LP / Sunoco Finance Corp                                                  | CUSIP: 86765LAQ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    255000 | PA      | $254383.16    | 0.30%             | 2027-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                          | Brazil Notas do Tesouro Nacional Serie F                                         | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |      1000 | PA      | $159.12       | 0.00%             | 2029-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BALL CORP                                                         | Ball Corp                                                                        | CUSIP: 058498AY2<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    450000 | PA      | $461301.66    | 0.55%             | 2028-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                       | 10 YEAR U.S. TREASURY NOTE                                                       | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        -2 | NC      | $-6097.28     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                          | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 69867DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    134000 | PA      | $134544.98    | 0.16%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                                            | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    222000 | PA      | $222410.70    | 0.26%             | 2030-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                                    | Wynn Macau Ltd                                                                   | CUSIP: 98313RAH9<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    600000 | PA      | $573233.48    | 0.68%             | 2028-08-26      | Fixed         | 5.62%                 | No            |                  2 | On Loan: —       |
| TEVA PHARMACEUTICALS NE                                           | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAS0<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    450000 | PA      | $482900.85    | 0.57%             | 2029-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CLI Funding LLC                                                   | CLI Funding VI LLC                                                               | CUSIP: 12563LAN7<br>LEI: 549300NQLBWJD5AREU05 | Long             | ABS-O            | CORP              | US        |     99142 | PA      | $91696.69     | 0.11%             | 2045-09-18      | Fixed         | 2.08%                 | No            |                  2 | On Loan: No      |
| DataBank Issuer LLC                                               | DataBank Issuer                                                                  | CUSIP: 23802WAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $333294.78    | 0.39%             | 2051-10-25      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| TRP LLC                                                           | TRP 2021 LLC                                                                     | CUSIP: 87267CAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    263627 | PA      | $249210.20    | 0.30%             | 2051-06-19      | Fixed         | 2.07%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                                      | AES Corp/The                                                                     | CUSIP: 00130HCH6<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |    500000 | PA      | $507867.98    | 0.60%             | 2028-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                    | Ginnie Mae II Pool                                                               | CUSIP: 36202DMS7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       889 | PA      | $943.67       | 0.00%             | 2031-04-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                             | Caesars Entertainment Inc                                                        | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    135000 | PA      | $124762.73    | 0.15%             | 2029-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                                 | EURO-BOBL                                                                        | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -2 | NC      | $-1860.03     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                           | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GC77<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    420000 | PA      | $423945.99    | 0.50%             | 2028-04-23      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl                                    | Santander Drive Auto Receivables Trust 2024-1                                    | CUSIP: 80288AAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     67000 | PA      | $67367.66     | 0.08%             | 2028-12-15      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| OSCAR US Funding Trust                                            | Oscar US Funding XIII LLC                                                        | CUSIP: 68785BAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | JP        |    312366 | PA      | $307770.72    | 0.36%             | 2028-09-11      | Fixed         | 1.27%                 | No            |                  2 | On Loan: No      |
| DREYFUS INSTITUTIONAL PREFERRED GOVERNMENT PLUS MONEY MARKET FUND | DREYFUS INSTITUTIONAL PREFERRED GOVERNMENT PLUS MONEY MARKET FUND                | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1858014 | NS      | $1858014.25   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLIANZ SE                                                        | Allianz SE                                                                       | CUSIP: 018820AB6<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |    400000 | PA      | $337073.00    | 0.40%             | N/A             | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| PAYCHEX INC                                                       | Paychex Inc                                                                      | CUSIP: 704326AA5<br>LEI: 529900K900DW6SUBM174 | Long             | DBT              | CORP              | US        |    112000 | PA      | $113714.40    | 0.13%             | 2030-04-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Flexential Issuer, LLC                                            | Flexential Issuer 2021-1                                                         | CUSIP: 33938MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    305000 | PA      | $291093.98    | 0.34%             | 2051-11-27      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| World Omni Auto Receivables Tr                                    | World Omni Auto Receivables Trust 2023-A                                         | CUSIP: 98164JAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     75308 | PA      | $75306.48     | 0.09%             | 2028-05-15      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| Bank5                                                             | BANK5 2024-5YR12                                                                 | CUSIP: 06644XBB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    428000 | PA      | $440348.31    | 0.52%             | 2057-12-15      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| EQUATE PETROCHEMICAL CO                                           | EQUATE Petrochemical Co KSC                                                      | CUSIP: 000000000<br>LEI: 635400J73BDO4TTGXD45 | Long             | DBT              | CORP              | KW        |    300000 | PA      | $300052.80    | 0.36%             | 2025-05-18      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-24

**Name of Applicant:** BNY Mellon Investment Funds VII, Inc.

**Signature:** James Windels

**Name of Signer:** James Windels

**Title:** Treasurer