# EDGAR Filing Document

**Accession Number:** 0001046292
**File Stem:** 0000940400-26-022143
**Filing Date:** 2026-5
**Character Count:** 333978
**Document Hash:** 5445a1cac6c31b4e2ccbd9287e1c94c8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-022143.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0000940400-26-022143

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GOLDMAN SACHS VARIABLE INSURANCE TRUST
- **CENTRAL INDEX KEY:** 0001046292

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08361
- **FILM NUMBER:** 261043411

**BUSINESS ADDRESS:**
- **STREET 1:** 71 SOUTH WACKER DRIVE
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3126554400

**MAIL ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282

## Series and Classes Contracts Data

### Goldman Sachs Core Fixed Income Fund (Series ID: S000009353)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000025636 | Service       |  |
| C000128922 | Institutional |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Goldman Sachs Variable Insurance Trust

- **b. Investment Company Act file number:** 811-08361

- **c. CIK number of Registrant:** 0001046292

- **d. LEI of Registrant:** H39OGLUI7D5CIH8CZ870

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

  - **Street Address 1:** 200 West Street

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10282

  - **Telephone number:** 312-655-4400

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

- **a. Name of Series:** Goldman Sachs Variable Insurance Trust Core Fixed Income Fund

- **b. EDGAR series identifier (if any):** S000009353

- **c. LEI of Series:** ZG854DZBVDTQCVPAB431

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $277520961.30

**Total Liabilities:** $56347682.20

**Net Assets:** $221173279.10

**Delayed Delivery Securities:** $560000.00

**Stand-by Commitments:** $44917910.13

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 54.04000000 | **1-Year:** 3055.63000000 | **5-Year:** 23539.84000000 | **10-Year:** 30405.88000000 | **30-Year:** 34723.44000000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.21000000 | **5-Year:** 3.94000000 | **10-Year:** 9.19000000 | **30-Year:** 75.21000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000128922 | 0.21%                | 1.64%                | -2.08%               |
| Class ID C000025636 | 0.21%                | 1.54%                | -2.03%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $89428.83                | $-145172.67                                |
| Month 2  | $129492.64               | $2194703.20                                |
| Month 3  | $13720.73                | $-4233352.05                               |

**Designated Index Information**

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

- **Index Identifier:** LMUSXXXCCJ

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| WELLINGTON MANAGEMENT CLO 5 LTD                                                     | WELLI 2025-5A A                                        | CUSIP: 94957NAA3<br>LEI: 213800J6I7L5KYTPNH51 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001577.00   | 0.45%             | 2038-10-18      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Security Stripped Interest Security                                   | S 0 11/15/31                                           | CUSIP: 9128337Q7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1130000 | PA      | $900040.89    | 0.41%             | 2031-11-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| Burlington Northern Santa Fe LLC                                                    | BNSF 4.05 06/15/48                                     | CUSIP: 12189LBC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $19673.44     | 0.01%             | 2048-06-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 4.5 05/06/28                                      | CUSIP: 68389XCM5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149458.13    | 0.07%             | 2028-05-06      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NYC COMMERCIAL MORTGAGE TRUST 2025-3BP                                              | NYC 2025-77C A                                         | CUSIP: 67123LAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    650000 | PA      | $642883.93    | 0.29%             | 2036-01-10      | Variable      | 4.79%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                                           | RTX 4.05 05/04/47                                      | CUSIP: 913017CP2<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |     25000 | PA      | $19791.58     | 0.01%             | 2047-05-04      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD2040                                              | CUSIP: 3132DPHR2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    286275 | PA      | $296979.11    | 0.13%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST 2021-R01                                        | CAS 2021-R01 1M2                                       | CUSIP: 20754RAB2<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |     18967 | PA      | $19017.08     | 0.01%             | 2041-10-25      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                                     | CDS REPUBLIC OF INDONESIA                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-118.01      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                      | C V2.976 11/05/30                                      | CUSIP: 17308CC53<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70804.13     | 0.03%             | 2030-11-05      | Fixed         | 2.98%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                                                  | META 3.5 08/15/27                                      | CUSIP: 30303M8G0<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248351.58    | 0.11%             | 2027-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN BM5538                                              | CUSIP: 3140JAEL8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    103117 | PA      | $103909.60    | 0.05%             | 2048-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA5400                                              | CUSIP: 36179T7M1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     23104 | PA      | $23333.50     | 0.01%             | 2048-08-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN FM9492                                              | CUSIP: 3140XDRN8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    140524 | PA      | $120511.49    | 0.05%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Choice Hotels International, Inc.                                                   | CHH 3.7 01/15/31                                       | CUSIP: 169905AG1<br>LEI: 5493003CYRY5RFGTIR97 | Long             | DBT              | CORP              | US        |    306000 | PA      | $287019.24    | 0.13%             | 2031-01-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                               | ROMANI 2.625 12/02/40 144A                             | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     30000 | PA      | $21654.87     | 0.01%             | 2040-12-02      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                       | USB V5.083 05/15/31                                    | CUSIP: 91159HJV3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    545000 | PA      | $552577.76    | 0.25%             | 2031-05-15      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS USD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $56899.36     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2-30YR-Multi                                          | CUSIP: 21H030641<br>LEI: 549300M8ZYFG0OCMTT87 | Short            | ABS-MBS          | USGA              | US        |  -1000000 | PA      | $-892186.00   | -0.40%            | 2056-04-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Synopsys Inc                                                                        | SNPS 5 04/01/32                                        | CUSIP: 871607AD9<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    160000 | PA      | $161370.68    | 0.07%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                     | CVS 4.78 03/25/38                                      | CUSIP: 126650CY4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    162000 | PA      | $149225.59    | 0.07%             | 2038-03-25      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                               | ROMANI 2.875 03/11/29 EMTN                             | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     50000 | PA      | $55429.88     | 0.03%             | 2029-03-11      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Invitation Homes Operating Partnership Lp                                           | INVH 2 08/15/31                                        | CUSIP: 46188BAA0<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              | CORP              | US        |    195000 | PA      | $167146.07    | 0.08%             | 2031-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                              | FHMS KF153 AS                                          | CUSIP: 3137H9Y94<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    150678 | PA      | $150817.56    | 0.07%             | 2033-02-25      | Variable      | 4.36%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS GBP                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-53027.76    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                                            | CURRENCY CONTRACT - GBP                                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-8136.52     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Royalty Pharma PLC                                                                  | RPRX 5.4 09/02/34                                      | CUSIP: 78081BAR4<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    198000 | PA      | $199636.80    | 0.09%             | 2034-09-02      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AT0292                                              | CUSIP: 3138WMKE0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5042 | PA      | $4707.40      | 0.00%             | 2043-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| OBX 2025-NQM11 TRUST                                                                | OBX 2025-NQM11 A1A                                     | CUSIP: 67449BAL7<br>LEI: 254900KNWDG7C03UTA13 | Long             | ABS-O            | CORP              | US        |    410730 | PA      | $411737.35    | 0.19%             | 2065-05-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                      | C V4.91 05/24/33                                       | CUSIP: 172967NU1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    165000 | PA      | $164266.42    | 0.07%             | 2033-05-24      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | MS V2.475 01/21/28                                     | CUSIP: 61747YEK7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196836.02    | 0.09%             | 2028-01-21      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| Expedia Group Inc                                                                   | EXPE 4.625 08/01/27                                    | CUSIP: 30212PBK0<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14012.25     | 0.01%             | 2027-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CSMC 2021-NQM7 TRUST                                                                | CSMC 2021-NQM7 A1                                      | CUSIP: 12662QAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    674006 | PA      | $597609.59    | 0.27%             | 2066-10-25      | Variable      | 1.76%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS EUR                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $1239.86      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | GNR 2021-135 A                                         | CUSIP: 38382XAA3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    773554 | PA      | $637086.22    | 0.29%             | 2051-08-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                      | C 3.4 05/01/26                                         | CUSIP: 172967KN0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44955.45     | 0.02%             | 2026-05-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                      | C V6.02 01/24/36                                       | CUSIP: 172967PU9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    210000 | PA      | $214602.86    | 0.10%             | 2036-01-24      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                          | BA 6.528 05/01/34                                      | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    187000 | PA      | $203698.83    | 0.09%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| The Cigna Group                                                                     | CI 4.8 08/15/38                                        | CUSIP: 125523AJ9<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    125000 | PA      | $117447.25    | 0.05%             | 2038-08-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)                                                      | MEX 4.28 08/14/41                                      | CUSIP: 91087BAQ3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    470000 | PA      | $367490.93    | 0.17%             | 2041-08-14      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V3.593 07/21/28 GMTN                               | CUSIP: 06051GGR4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24735.98     | 0.01%             | 2028-07-21      | Fixed         | 3.59%                 | No            |                  2 | On Loan: No      |
| VMware LLC                                                                          | VMW 1.8 08/15/28                                       | CUSIP: 928563AK1<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23537.12     | 0.01%             | 2028-08-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| COLT 2025-8 MORTGAGE LOAN TRUST                                                     | COLT 2025-8 A1                                         | CUSIP: 19689DAA7<br>LEI: 2138009IZ4NQZAKAEN75 | Long             | ABS-O            | CORP              | US        |    639928 | PA      | $641824.46    | 0.29%             | 2070-08-25      | Variable      | 5.48%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs ETF Trust                                                             | Goldman Sachs Corporate Bond ETF                       | CUSIP: 38149W465<br>LEI: 984500077864807KE333 | Long             | EC               | RF                | US        |      6481 | NS      | $325670.25    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                                                      | MS V4.431 01/23/30 GMTN                                | CUSIP: 6174468G7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24869.10     | 0.01%             | 2030-01-23      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| Ohio Power Company                                                                  | AEP 2.6 04/01/30 P                                     | CUSIP: 677415CS8<br>LEI: 06ZODLC132CY1O2Y7D77 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23172.93     | 0.01%             | 2030-04-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| OCTAGON 61 LTD                                                                      | OCT61 2023-2A A1R                                      | CUSIP: 675947AL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1400000 | PA      | $1400928.20   | 0.63%             | 2038-04-20      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Energy Company                                                   | BRKHEC 3.25 04/15/28                                   | CUSIP: 084659AM3<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24521.23     | 0.01%             | 2028-04-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| EFMT 2026-NQM4                                                                      | EFMT 2026-NQM4 A1A                                     | CUSIP: 26846KAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $500091.55    | 0.23%             | 2071-04-25      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| Realty Income Corporation                                                           | O 3.4 01/15/30                                         | CUSIP: 756109CC6<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71940.99     | 0.03%             | 2030-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 2.75 11/15/42                                        | CUSIP: 912810QY7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2310000 | PA      | $1756321.88   | 0.79%             | 2042-11-15      | Fixed         | 2.75%                 | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CB5090                                              | CUSIP: 3140QQUQ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1104686 | PA      | $1146338.24   | 0.52%             | 2052-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS EUR                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $92672.22     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 0.5 06/30/27                                         | CUSIP: 912828ZV5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4330000 | PA      | $4156800.00   | 1.88%             | 2027-06-30      | Fixed         | 0.50%                 | No            |                  1 | On Loan: No      |
| Stanley Black & Decker, Inc.                                                        | SWK 4.25 11/15/28                                      | CUSIP: 854502AH4<br>LEI: 549300DJ09SMTO561131 | Long             | DBT              | CORP              | US        |     24000 | PA      | $23952.24     | 0.01%             | 2028-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Roper Technologies Inc                                                              | ROP 4.2 09/15/28                                       | CUSIP: 776743AF3<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49635.57     | 0.02%             | 2028-09-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Air Lease Corporation                                                               | AL 3.75 06/01/26 GMTN                                  | CUSIP: 00914AAB8<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74824.05     | 0.03%             | 2026-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | CAS 2022-R05 2M1                                       | CUSIP: 20754DAA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |      2601 | PA      | $2603.38      | 0.00%             | 2042-04-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS NZD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-18024.72    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES EUROPE                                                                  | Three Month SONIA - ICEU                               | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              | CORP              | GB        |        37 | NC      | $-93546.22    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Idex Corporation                                                                    | IEX 2.625 06/15/31                                     | CUSIP: 45167RAH7<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | DBT              | CORP              | US        |    105000 | PA      | $94635.76     | 0.04%             | 2031-06-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA, NATIONAL ASSOCIATION                                               | SWOP IRS EUR                                           | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              | CORP              | US        |    430000 | NC      | $28.93        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN BR6352                                              | CUSIP: 3140L5BW5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     60714 | PA      | $52181.07     | 0.02%             | 2051-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                            | T 2.55 12/01/33                                        | CUSIP: 00206RMM1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     10000 | PA      | $8460.17      | 0.00%             | 2033-12-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Air Lease Corporation                                                               | AL 5.2 07/15/31 MTN                                    | CUSIP: 00914AAX0<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    275000 | PA      | $275454.95    | 0.12%             | 2031-07-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                                            | JPMMT 2021-6 A3                                        | CUSIP: 46653PAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     77034 | PA      | $63866.09     | 0.03%             | 2051-10-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS EUR                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $5486.30      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AL7072                                              | CUSIP: 3138EP2E3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     20422 | PA      | $20217.50     | 0.01%             | 2045-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BX Trust 2018-Bilt                                                                  | BX 2024-BIO A                                          | CUSIP: 05612AAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $348906.50    | 0.16%             | 2041-02-15      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| General Mills, Inc.                                                                 | GIS 4.2 04/17/28                                       | CUSIP: 370334CG7<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74574.97     | 0.03%             | 2028-04-17      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| S&P Global Inc                                                                      | SPGI 4.25 05/01/29                                     | CUSIP: 78409VBG8<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74799.80     | 0.03%             | 2029-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS CHF                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-4781.47     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNMA-15YR                                              | CUSIP: 01F042442<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4000000 | PA      | $3968437.60   | 1.79%             | 2041-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp.                                                                     | SBUX 4 11/15/28                                        | CUSIP: 855244AR0<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99200.43     | 0.04%             | 2028-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROCK TRUST 2024-CNTR                                                                | ROCC 2024-CNTR B                                       | CUSIP: 74970WAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $102177.26    | 0.05%             | 2041-11-15      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V3.419 12/20/28                                    | CUSIP: 06051GHD4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     85000 | PA      | $83506.53     | 0.04%             | 2028-12-20      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                          | OXY 7.875 09/15/31                                     | CUSIP: 674599DE2<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     69000 | PA      | $78399.61     | 0.04%             | 2031-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN 660137                                              | CUSIP: 31390YLS5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1512 | PA      | $1588.95      | 0.00%             | 2032-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                                                   | Euro(FGBS) Schatz Futures                              | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        39 | NC      | $-22348.59    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                                                                     | XEL 3.35 12/01/26                                      | CUSIP: 98389BAU4<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248347.28    | 0.11%             | 2026-12-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Security Stripped Interest Security                                   | S 0 11/15/29                                           | CUSIP: 912833XT2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2079100 | PA      | $1805792.82   | 0.82%             | 2029-11-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| Union Pacific Corporation                                                           | UNP 2.8 02/14/32                                       | CUSIP: 907818FX1<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    125000 | PA      | $113625.46    | 0.05%             | 2032-02-14      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| CubeSmart LP                                                                        | CUBE 2.5 02/15/32                                      | CUSIP: 22966RAJ5<br>LEI: 549300MPHKO3I3FJRA97 | Long             | DBT              | CORP              | US        |     20000 | PA      | $17547.61     | 0.01%             | 2032-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NYC COMMERCIAL MORTGAGE TRUST 2025-11X                                              | NYC 2025-11X A                                         | CUSIP: 67122NAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $400249.28    | 0.18%             | 2040-10-15      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Otis Worldwide Corp.                                                                | OTIS 2.293 04/05/27                                    | CUSIP: 68902VAJ6<br>LEI: 549300ZLBKR8VSU25153 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24507.85     | 0.01%             | 2027-04-05      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNMA-30YR                                              | CUSIP: 01F042657<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |  -1000000 | PA      | $-963371.00   | -0.44%            | 2056-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Mars Inc.                                                                           | MARS 4.8 03/01/30 144A                                 | CUSIP: 571676AY1<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    425000 | PA      | $429435.19    | 0.19%             | 2030-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNMA-30YR                                              | CUSIP: 01F030645<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2000000 | PA      | $1758330.00   | 0.80%             | 2056-04-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS AUD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-3501.30     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Home Depot Inc.                                                                     | HD 3.9 12/06/28                                        | CUSIP: 437076BW1<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24887.91     | 0.01%             | 2028-12-06      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                  | ET 5.25 04/15/29                                       | CUSIP: 29278NAG8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25472.23     | 0.01%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IRV TRUST 2025-200P                                                                 | IRV 2025-200P A                                        | CUSIP: 45006HAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $350228.34    | 0.16%             | 2047-03-14      | Variable      | 5.29%                 | No            |                  2 | On Loan: No      |
| Gallagher Aj &Co                                                                    | AJG 4.85 12/15/29                                      | CUSIP: 04316JAL3<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50540.96     | 0.02%             | 2029-12-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS JPY                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $389304.74    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                  | TMUS 2.05 02/15/28                                     | CUSIP: 87264ACA1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    175000 | PA      | $167853.04    | 0.08%             | 2028-02-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST 2025-DNA3                                             | STACR 2025-DNA3 A1                                     | CUSIP: 35564UAQ0<br>LEI: 5299009HC4IGFM6RXF30 | Long             | ABS-O            | USGSE             | US        |    503750 | PA      | $502183.84    | 0.23%             | 2045-09-25      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 2 08/15/51                                           | CUSIP: 912810SZ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    170000 | PA      | $96767.19     | 0.04%             | 2051-08-15      | Fixed         | 2.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury Bonds                                                        | T 2.375 11/15/49                                       | CUSIP: 912810SK5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    510000 | PA      | $324965.63    | 0.15%             | 2049-11-15      | Fixed         | 2.38%                 | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS NOK                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-3020.46     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | GN 444342                                              | CUSIP: 36207WS70<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       184 | PA      | $183.78       | 0.00%             | 2027-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NiSource Inc.                                                                       | NI 3.49 05/15/27                                       | CUSIP: 65473QBE2<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |     95000 | PA      | $93986.12     | 0.04%             | 2027-05-15      | Fixed         | 3.49%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS SEK                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $22738.86     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Northrop Grumman Corporation                                                        | NOC 3.25 01/15/28                                      | CUSIP: 666807BN1<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73697.24     | 0.03%             | 2028-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS AUD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $4536.91      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MSCI Inc.                                                                           | MSCI 4 11/15/29 144A                                   | CUSIP: 55354GAH3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    180000 | PA      | $174699.51    | 0.08%             | 2029-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| International Flavors & Fragrances Inc.                                             | IFF 1.832 10/15/27 144A                                | CUSIP: 459506AP6<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19185.41     | 0.01%             | 2027-10-15      | Fixed         | 1.83%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Company Inc                                                | GM 2.35 01/08/31                                       | CUSIP: 37045XDE3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    125000 | PA      | $111367.91    | 0.05%             | 2031-01-08      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Cbamr 2017-4 Ltd. / Cbamr 2017-4 LLC                                                | CBAMR 2017-4A A1R                                      | CUSIP: 12516EAC5<br>LEI: 635400U9D8ZDLM1G7T76 | Long             | ABS-CBDO         | CORP              | KY        |    800000 | PA      | $800939.20    | 0.36%             | 2038-03-31      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                                                               | LOW 3.1 05/03/27                                       | CUSIP: 548661DP9<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24705.80     | 0.01%             | 2027-05-03      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co.                                                      | HPE 5 10/15/34                                         | CUSIP: 42824CBV0<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    151000 | PA      | $146070.01    | 0.07%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECONOMIC DEV CORP                                                       | MD MDSDEV 4.97 11/30/2032                              | CUSIP: 574205JA9<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    160000 | PA      | $163696.58    | 0.07%             | 2032-11-30      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                                                        | MAR 4.875 05/15/29                                     | CUSIP: 571903BP7<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |     91000 | PA      | $91981.17     | 0.04%             | 2029-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ELMWOOD CLO 35 LTD                                                                  | ELM35 2024-11A A                                       | CUSIP: 29004NAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1175000 | PA      | $1175802.53   | 0.53%             | 2037-10-19      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AT4000                                              | CUSIP: 3138WRNS5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7369 | PA      | $6790.29      | 0.00%             | 2043-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 2 02/15/50                                           | CUSIP: 912810SL3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    610000 | PA      | $355039.06    | 0.16%             | 2050-02-15      | Fixed         | 2.00%                 | No            |                  1 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD0296                                              | CUSIP: 3132DMKH7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    332317 | PA      | $316860.38    | 0.14%             | 2050-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                                            | CURRENCY CONTRACT - USD                                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $7730.77      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 2.875 03/25/31                                    | CUSIP: 68389XCE3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    275000 | PA      | $244377.43    | 0.11%             | 2031-03-25      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| UDR Inc                                                                             | UDR 1.9 03/15/33 MTN                                   | CUSIP: 90265EAU4<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              | CORP              | US        |    100000 | PA      | $81892.26     | 0.04%             | 2033-03-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Belmont Park CLO                                                                    | Belmont Park CLO Ltd                                   | CUSIP: 08049AAL7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    560000 | PA      | $560000.00    | 0.25%             | 2037-04-15      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS EUR                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $20102.15     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Ascension Health Alliance                                                           | ASCHEA 4.923 11/15/35 2025                             | CUSIP: 04351LAE0<br>LEI: 549300IMOY6ECI21DH68 | Long             | DBT              | CORP              | US        |    280000 | PA      | $276696.45    | 0.13%             | 2035-11-15      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                              | TFC V5.711 01/24/35 MTN                                | CUSIP: 89788MAS1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    425000 | PA      | $438087.65    | 0.20%             | 2035-01-24      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 3.125 11/15/41                                       | CUSIP: 912810QT8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1640000 | PA      | $1341725.00   | 0.61%             | 2041-11-15      | Fixed         | 3.12%                 | No            |                  1 | On Loan: No      |
| Comcast Corporation                                                                 | CMCSA 3.3 02/01/27                                     | CUSIP: 20030NBY6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24812.64     | 0.01%             | 2027-02-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V5.511 01/24/36                                    | CUSIP: 06051GMM8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76449.80     | 0.03%             | 2036-01-24      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CA2057                                              | CUSIP: 3140Q9JB0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    201225 | PA      | $196631.12    | 0.09%             | 2048-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 4.25 03/31/33                                        | CUSIP: 91282CQF1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1430000 | PA      | $1439831.25   | 0.65%             | 2033-03-31      | Fixed         | 4.25%                 | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AQ7146                                              | CUSIP: 3138MN5G1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4626 | PA      | $4302.26      | 0.00%             | 2043-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                             | MPLX 5.5 02/15/49                                      | CUSIP: 55336VAT7<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22634.89     | 0.01%             | 2049-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Masco Corporation                                                                   | MAS 1.5 02/15/28                                       | CUSIP: 574599BS4<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47334.14     | 0.02%             | 2028-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | CAS 2021-R03 1M2                                       | CUSIP: 20754AAB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     41581 | PA      | $41618.87     | 0.02%             | 2041-12-26      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| B.A.T. Capital Corporation                                                          | BATSLN 6 02/20/34                                      | CUSIP: 05526DBZ7<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    400000 | PA      | $422507.46    | 0.19%             | 2034-02-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                            | T 4.35 03/01/29                                        | CUSIP: 00206RHJ4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150104.60    | 0.07%             | 2029-03-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS USD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $77018.04     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| British Telecommunications PLC                                                      | BRITEL 9.625 12/15/30                                  | CUSIP: 111021AE1<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |    230000 | PA      | $274726.07    | 0.12%             | 2030-12-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corporation                                                        | NOC 4.75 06/01/43                                      | CUSIP: 666807BH4<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22593.39     | 0.01%             | 2043-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LEX 2024-BBG MORTGAGE TRUST                                                         | LEX 2024-BBG A                                         | CUSIP: 52885AAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $298042.17    | 0.13%             | 2033-10-14      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| TOYOTA AUTO RECEIVABLES 2023-B OWNER TRUST                                          | TAOT 2023-B A3                                         | CUSIP: 891941AD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    219693 | PA      | $220214.77    | 0.10%             | 2028-02-15      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER) | AER 2.45 10/29/26                                      | CUSIP: 00774MAV7<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |    250000 | PA      | $247104.03    | 0.11%             | 2026-10-29      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                            | HCA 5.45 04/01/31                                      | CUSIP: 404119CT4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    345000 | PA      | $353743.67    | 0.16%             | 2031-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| BRAVO RESIDENTIAL FDG TR 2025-NQM4                                                  | BRAVO 2025-NQM4 A1                                     | CUSIP: 10570QAE1<br>LEI: 25490082TY9NA9XBGW19 | Long             | ABS-O            | CORP              | US        |         0 | PA      | $0.02         | 0.00%             | 2065-02-25      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CB7143                                              | CUSIP: 3140QS5D9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1206161 | PA      | $1255150.45   | 0.57%             | 2053-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2-30YR-Multi                                          | CUSIP: 21H032654<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1000000 | PA      | $912187.50    | 0.41%             | 2056-05-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Peru (Republic Of)                                                                  | PERU 5.5 03/30/36                                      | CUSIP: 715638FC1<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     70000 | PA      | $69844.11     | 0.03%             | 2036-03-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AL6619                                              | CUSIP: 3138EPK94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    173356 | PA      | $172160.86    | 0.08%             | 2045-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DH Europe Finance II SARL                                                           | DHR 2.6 11/15/29                                       | CUSIP: 23291KAH8<br>LEI: 222100KDGL314CKTZ511 | Long             | DBT              | CORP              | LU        |     25000 | PA      | $23549.92     | 0.01%             | 2029-11-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST 2025-1                                       | SDART 2025-1 A3                                        | CUSIP: 80288DAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    304985 | PA      | $305438.42    | 0.14%             | 2029-01-15      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 1.5 02/15/30                                         | CUSIP: 912828Z94<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6070000 | PA      | $5554524.19   | 2.51%             | 2030-02-15      | Fixed         | 1.50%                 | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CA1119                                              | CUSIP: 3140Q8G58<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    105092 | PA      | $100597.99    | 0.05%             | 2048-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                              | FHR 5502 FG                                            | CUSIP: 3137HJSY4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    190077 | PA      | $189869.57    | 0.09%             | 2055-02-25      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA7706                                              | CUSIP: 36179WR34<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    656981 | PA      | $586890.33    | 0.27%             | 2051-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2-30YR-Multi                                          | CUSIP: 21H030633<br>LEI: 549300M8ZYFG0OCMTT87 | Short            | ABS-MBS          | USGA              | US        |  -1000000 | PA      | $-892443.00   | -0.40%            | 2056-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 0.75 05/31/26                                        | CUSIP: 91282CCF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2020000 | PA      | $2009742.18   | 0.91%             | 2026-05-31      | Fixed         | 0.75%                 | No            |                  1 | On Loan: No      |
| Williams Companies Inc. (The)                                                       | WMB 5.65 03/15/33                                      | CUSIP: 969457CJ7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    125000 | PA      | $129308.51    | 0.06%             | 2033-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Sabine Pass Liquefaction, LLC                                                       | SPLLLC 5 03/15/27                                      | CUSIP: 785592AS5<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75146.90     | 0.03%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AB8704                                              | CUSIP: 31417FU63<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     45808 | PA      | $42272.43     | 0.02%             | 2043-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                                                        | MAR 2.85 04/15/31 HH                                   | CUSIP: 571903BG7<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    325000 | PA      | $297646.35    | 0.13%             | 2031-04-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Crown Castle Inc.                                                                   | CCI 3.65 09/01/27                                      | CUSIP: 22822VAH4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59285.64     | 0.03%             | 2027-09-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Nuveen LLC                                                                          | TIAAGL 4 11/01/28 144A                                 | CUSIP: 67080LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $24798.33     | 0.01%             | 2028-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG C00896                                              | CUSIP: 31292G7H3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1013 | PA      | $1047.24      | 0.00%             | 2029-12-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS EUR                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $7081.05      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA6221                                              | CUSIP: 36179U4E9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    157838 | PA      | $155070.39    | 0.07%             | 2049-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| International Flavors & Fragrances Inc.                                             | IFF 2.3 11/01/30 144A                                  | CUSIP: 459506AQ4<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |     74000 | PA      | $65847.46     | 0.03%             | 2030-11-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Constellation Brands, Inc.                                                          | STZ 3.15 08/01/29                                      | CUSIP: 21036PBE7<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23917.70     | 0.01%             | 2029-08-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNR 2012-153 B                                         | CUSIP: 3136ABDT7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |      9295 | PA      | $9983.99      | 0.00%             | 2042-07-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST 2025-1                                                   | VERUS 2025-1 A1A                                       | CUSIP: 92540TAL4<br>LEI: 213800JOKZMXZECMAB50 | Long             | ABS-O            | CORP              | US        |    524689 | PA      | $527361.84    | 0.24%             | 2070-01-25      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 4.9 02/06/33                                      | CUSIP: 68389XCP8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    157000 | PA      | $148729.29    | 0.07%             | 2033-02-06      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG A14237                                              | CUSIP: 31296NV61<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       652 | PA      | $663.73       | 0.00%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 4.375 08/15/26                                       | CUSIP: 91282CHU8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    620000 | PA      | $621307.81    | 0.28%             | 2026-08-15      | Fixed         | 4.38%                 | No            |                  1 | On Loan: No      |
| CVS Health Corp                                                                     | CVS 2.125 09/15/31                                     | CUSIP: 126650DR8<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    350000 | PA      | $303486.90    | 0.14%             | 2031-09-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                        | AVGO 3.419 04/15/33                                    | CUSIP: 11135FCU3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91468.77     | 0.04%             | 2033-04-15      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| ROCK TRUST 2024-CNTR                                                                | ROCC 2024-CNTR A                                       | CUSIP: 74970WAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $406205.92    | 0.18%             | 2041-11-15      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN BK0910                                              | CUSIP: 3140HEAL6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7540 | PA      | $7224.93      | 0.00%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Adventist Health Systems (West)                                                     | ADVENT 2.952 03/01/29                                  | CUSIP: 007944AF8<br>LEI: 5493008YM33UCY5QPW83 | Long             | DBT              | CORP              | US        |     30000 | PA      | $28541.06     | 0.01%             | 2029-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Constellation Brands, Inc.                                                          | STZ 3.6 02/15/28                                       | CUSIP: 21036PAY4<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49244.22     | 0.02%             | 2028-02-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AQ9317                                              | CUSIP: 3138MRK75<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      9301 | PA      | $8639.28      | 0.00%             | 2043-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                          | BA 6.858 05/01/54                                      | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    174000 | PA      | $191436.68    | 0.09%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| Invitation Homes Operating Partnership Lp                                           | INVH 2.3 11/15/28                                      | CUSIP: 46188BAB8<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70571.05     | 0.03%             | 2028-11-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS USD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $59513.74     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Indonesia (Republic of)                                                             | INDON 4.1 03/04/34                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    190000 | PA      | $210966.20    | 0.10%             | 2034-03-04      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Amgen Inc.                                                                          | AMGN 5.25 03/02/33                                     | CUSIP: 031162DR8<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    184000 | PA      | $188786.09    | 0.09%             | 2033-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| The J M Smucker Company                                                             | SJM 5.9 11/15/28                                       | CUSIP: 832696AW8<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |    179000 | PA      | $185139.76    | 0.08%             | 2028-11-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                            | T 4.85 03/01/39                                        | CUSIP: 00206RHK1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     60000 | PA      | $55841.30     | 0.03%             | 2039-03-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                      | C 4.45 09/29/27                                        | CUSIP: 172967KA8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149972.04    | 0.07%             | 2027-09-29      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Hudson Yards 2025-Sprl Mortgage Trust                                               | HY 2025-SPRL A                                         | CUSIP: 44855PAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    290000 | PA      | $296974.28    | 0.13%             | 2040-01-13      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 5.2 09/26/35                                      | CUSIP: 68389XDM4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    370000 | PA      | $346775.48    | 0.16%             | 2035-09-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                         | COF V5.884 07/26/35                                    | CUSIP: 14040HDH5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    415000 | PA      | $425248.57    | 0.19%             | 2035-07-26      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Steel Dynamics, Inc.                                                                | STLD 1.65 10/15/27                                     | CUSIP: 858119BN9<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47997.31     | 0.02%             | 2027-10-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Mid-America Apartments, L.P.                                                        | MAA 1.7 02/15/31                                       | CUSIP: 59523UAS6<br>LEI: 549300FXWGE3QSYCUJ38 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43525.98     | 0.02%             | 2031-02-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| W. P. Carey Inc                                                                     | WPC 3.85 07/15/29                                      | CUSIP: 92936UAF6<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24408.28     | 0.01%             | 2029-07-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp.                                                                    | MCD 4.2 04/01/50 MTN                                   | CUSIP: 58013MFR0<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |     25000 | PA      | $19715.14     | 0.01%             | 2050-04-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG G01981                                              | CUSIP: 3128LXFW5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1348 | PA      | $1369.76      | 0.00%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER) | AER 3 10/29/28                                         | CUSIP: 00774MAW5<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |    225000 | PA      | $216665.63    | 0.10%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust 2013-2                                          | EART 2025-1A A3                                        | CUSIP: 30167MAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    102018 | PA      | $102091.71    | 0.05%             | 2028-08-15      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| Carrier Global Corporation                                                          | CARR 2.493 02/15/27                                    | CUSIP: 14448CAP9<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147580.22    | 0.07%             | 2027-02-15      | Fixed         | 2.49%                 | No            |                  2 | On Loan: No      |
| CSL Finance PLC                                                                     | CSLAU 3.85 04/27/27 144A                               | CUSIP: 12661PAA7<br>LEI: 2549007CCNBNAF4HBC02 | Long             | DBT              | CORP              | GB        |     25000 | PA      | $24863.22     | 0.01%             | 2027-04-27      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| American Express Credit Account Master Trust                                        | AMXCA 2025-3 A                                         | CUSIP: 02582JKR0<br>LEI: 549300Y4SA5G3GIJTP18 | Long             | ABS-O            | CORP              | US        |    550000 | PA      | $555698.95    | 0.25%             | 2032-04-15      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | MS V2.484 09/16/36                                     | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    150000 | PA      | $129037.89    | 0.06%             | 2036-09-16      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                                       | NFLX 5.875 11/15/28                                    | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    210000 | PA      | $218528.56    | 0.10%             | 2028-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                       | F 5.42 04/09/31                                        | CUSIP: 345397J61<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1475000 | PA      | $1447847.86   | 0.65%             | 2031-04-09      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| MAGNETITE CBO II LTD                                                                | MAGNE 2024-47A A                                       | CUSIP: 559916AA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    550000 | PA      | $550653.40    | 0.25%             | 2038-01-25      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| PIKES PEAK CLO 5                                                                    | PIPK 2020-5A A1R                                       | CUSIP: 72133PAL7<br>LEI: 549300Y4Y4E6N881GI69 | Long             | ABS-CBDO         | CORP              | KY        |    450000 | PA      | $450238.95    | 0.20%             | 2037-10-20      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V5.015 07/22/33 MTN                                | CUSIP: 06051GKY4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     73000 | PA      | $73458.81     | 0.03%             | 2033-07-22      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 4 11/15/52                                           | CUSIP: 912810TL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1288400 | PA      | $1107017.44   | 0.50%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  1 | On Loan: No      |
| Adventist Health Systems (West)                                                     | ADVENT 4.742 12/01/30 2025                             | CUSIP: 007944AN1<br>LEI: 5493008YM33UCY5QPW83 | Long             | DBT              | CORP              | US        |    590000 | PA      | $585135.78    | 0.26%             | 2030-12-01      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                              | FHMS K-161 A2                                          | CUSIP: 3137HB2X1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    300000 | PA      | $307873.05    | 0.14%             | 2033-10-25      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| Chile (Republic Of)                                                                 | CHILE 5.65 01/13/37                                    | CUSIP: 168863EE4<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    200000 | PA      | $207545.65    | 0.09%             | 2037-01-13      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 4.625 05/15/44                                       | CUSIP: 912810UB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2200000 | PA      | $2133656.25   | 0.96%             | 2044-05-15      | Fixed         | 4.62%                 | No            |                  1 | On Loan: No      |
| Willis North America Inc.                                                           | WTW 2.95 09/15/29                                      | CUSIP: 970648AJ0<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23672.68     | 0.01%             | 2029-09-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                        | AVGO 4.9 02/15/38                                      | CUSIP: 11135FCX7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    700000 | PA      | $675213.76    | 0.31%             | 2038-02-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                   | WFC 3 10/23/26                                         | CUSIP: 949746SH5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173762.40    | 0.08%             | 2026-10-23      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                                                  | SANTAN 6.921 08/08/33                                  | CUSIP: 05964HAV7<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $431580.38    | 0.20%             | 2033-08-08      | Fixed         | 6.92%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FN MA4182                                              | CUSIP: 31418DUG5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1640414 | PA      | $1335443.75   | 0.60%             | 2050-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust 2023-INV3                                                | VERUS 2023-INV3 A2                                     | CUSIP: 92540CAB3<br>LEI: 9845008F97BFO762AF95 | Long             | ABS-O            | CORP              | US        |    214505 | PA      | $216234.14    | 0.10%             | 2068-11-25      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS EUR                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $110190.17    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Essex Portfolio Lp                                                                  | ESS 3 01/15/30                                         | CUSIP: 29717PAU1<br>LEI: 5493003GN3O58H286O74 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47091.90     | 0.02%             | 2030-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc.                                                                         | ZTS 3 09/12/27                                         | CUSIP: 98978VAL7<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44230.00     | 0.02%             | 2027-09-12      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FR SD8146                                              | CUSIP: 3132DWBP7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1621654 | PA      | $1317130.98   | 0.60%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                          | BA 5.805 05/01/50                                      | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96529.67     | 0.04%             | 2050-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V3.824 01/20/28 MTN                                | CUSIP: 06051GGF0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74620.91     | 0.03%             | 2028-01-20      | Fixed         | 3.82%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS JPY                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-18325.04    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Entergy Corporation                                                                 | ETR 2.95 09/01/26                                      | CUSIP: 29364GAJ2<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44710.56     | 0.02%             | 2026-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc.                                                                         | ZTS 2 05/15/30                                         | CUSIP: 98978VAS2<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |    150000 | PA      | $136320.56    | 0.06%             | 2030-05-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR RA1411                                              | CUSIP: 3133KGR83<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    451878 | PA      | $405898.72    | 0.18%             | 2049-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Becton, Dickinson and Company                                                       | BDX 2.823 05/20/30                                     | CUSIP: 075887CJ6<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93290.28     | 0.04%             | 2030-05-20      | Fixed         | 2.82%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Company                                                    | PCG 2.1 08/01/27                                       | CUSIP: 694308JF5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24224.44     | 0.01%             | 2027-08-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD8129                                              | CUSIP: 3132DWA60<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    789124 | PA      | $669343.29    | 0.30%             | 2051-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA8268                                              | CUSIP: 36179XFH4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    743507 | PA      | $722000.71    | 0.33%             | 2052-09-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| M&T Bank Corporation                                                                | MTB V7.413 10/30/29                                    | CUSIP: 55261FAS3<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    265000 | PA      | $283026.09    | 0.13%             | 2029-10-30      | Fixed         | 7.41%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                                            | CURRENCY CONTRACT - NZD                                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1176.94     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST 2021-DNA5                                             | STACR 2021-DNA5 M2                                     | CUSIP: 35564KHE2<br>LEI: 5493000ISU5NYXNHD479 | Long             | ABS-O            | USGSE             | US        |      5756 | PA      | $5770.95      | 0.00%             | 2034-01-25      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Consolidated Inc                                                          | COKE 5.45 06/01/34                                     | CUSIP: 191098AP7<br>LEI: 57VG5X0E00X0QJU7CQ58 | Long             | DBT              | CORP              | US        |     98000 | PA      | $100541.49    | 0.05%             | 2034-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit Clo 2019-1                                                      | BCC 2019-1A BR3                                        | CUSIP: 05683VBL7<br>LEI: 549300B0VI605XM3L529 | Long             | ABS-CBDO         | CORP              | KY        |    725000 | PA      | $724714.35    | 0.33%             | 2034-04-19      | Variable      | 5.06%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 0.875 06/30/26                                       | CUSIP: 91282CCJ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3670000 | PA      | $3643908.58   | 1.65%             | 2026-06-30      | Fixed         | 0.88%                 | No            |                  1 | On Loan: No      |
| United States Treasury Notes                                                        | T 3.75 06/30/30                                        | CUSIP: 91282CHJ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1120000 | PA      | $1112737.49   | 0.50%             | 2030-06-30      | Fixed         | 3.75%                 | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS GBP                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-17441.71    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Pernod Ricard International Finance Llc                                             | RIFP 1.625 04/01/31 144A                               | CUSIP: 71427QAB4<br>LEI: 5493009254WI1A8WXT48 | Long             | DBT              | CORP              | US        |    345000 | PA      | $298400.38    | 0.13%             | 2031-04-01      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev Worldwide Inc.                                                 | ABIBB 8.2 01/15/39                                     | CUSIP: 03523TBF4<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |     25000 | PA      | $31443.92     | 0.01%             | 2039-01-15      | Fixed         | 8.20%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Corp.                                                                   | FE 2.25 09/01/30 B                                     | CUSIP: 337932AP2<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45040.98     | 0.02%             | 2030-09-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp                                                                | LVS 5.625 06/15/28                                     | CUSIP: 517834AM9<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    120000 | PA      | $121542.55    | 0.05%             | 2028-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2-30YR-Multi                                          | CUSIP: 21H050656<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2000000 | PA      | $1974976.80   | 0.89%             | 2056-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cornell University                                                                  | CORNLU 4.733 06/15/35 2025                             | CUSIP: 219207AF4<br>LEI: 549300ZZIJPNT0RZWP17 | Long             | DBT              | CORP              | US        |    480000 | PA      | $475326.93    | 0.21%             | 2035-06-15      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AB8832                                              | CUSIP: 31417FY69<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     14469 | PA      | $13361.84     | 0.01%             | 2043-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CWALT INC MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2005-38                         | CWALT 2005-38 A1                                       | CUSIP: 12667GY98<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     26938 | PA      | $24471.56     | 0.01%             | 2035-09-25      | Variable      | 5.36%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                         | IL ILS 5.1 06/01/2033                                  | CUSIP: 452151LF8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |     21814 | PA      | $22219.63     | 0.01%             | 2033-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                         | Ultra 10-Year U.S. Treasury Note Futures, Jun-2026,ETH | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -23 | NC      | $36110.39     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| LIBERTY STREET TRUST 2026-225L                                                      | LBTY 2026-225L B                                       | CUSIP: 50178LAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $294083.10    | 0.13%             | 2031-02-10      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST 2024-XL4                                               | BX 2024-XL4 A                                          | CUSIP: 05611VAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    179816 | PA      | $179861.59    | 0.08%             | 2039-02-15      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR7                                                                     | BANK5 2024-5YR7 A3                                     | CUSIP: 06211UBL8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    475000 | PA      | $488997.63    | 0.22%             | 2057-06-15      | Variable      | 5.77%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 3598                                                | CUSIP: 36202D7K1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     29323 | PA      | $30726.13     | 0.01%             | 2034-08-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Carrier Global Corporation                                                          | CARR 2.722 02/15/30                                    | CUSIP: 14448CAQ7<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70085.86     | 0.03%             | 2030-02-15      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | GN 416211                                              | CUSIP: 36206NKY0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |        18 | PA      | $17.67        | 0.00%             | 2026-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPM V5.193 02/05/37                                    | CUSIP: 46647PFK7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    245000 | PA      | $240551.56    | 0.11%             | 2037-02-05      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                         | VZ 4.329 09/21/28                                      | CUSIP: 92343VER1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    108000 | PA      | $108027.43    | 0.05%             | 2028-09-21      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co, Inc.                                                    | AEP 2.3 03/01/30                                       | CUSIP: 025537AN1<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45798.99     | 0.02%             | 2030-03-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| CARLYLE US CLO 2025-3 LTD                                                           | CGMS 2025-3A A                                         | CUSIP: 14320EAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    850000 | PA      | $851080.35    | 0.38%             | 2038-07-26      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Cencora Inc                                                                         | COR 3.45 12/15/27                                      | CUSIP: 03073EAP0<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73882.53     | 0.03%             | 2027-12-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN 256430                                              | CUSIP: 31371MY35<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       649 | PA      | $649.28       | 0.00%             | 2026-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PRKCM 2021-AFC2 TRUST                                                               | PRKCM 2021-AFC2 A1                                     | CUSIP: 69361JAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    431189 | PA      | $381884.94    | 0.17%             | 2056-11-25      | Variable      | 2.07%                 | No            |                  2 | On Loan: No      |
| The Cigna Group                                                                     | CI 2.375 03/15/31                                      | CUSIP: 125523CM0<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    250000 | PA      | $224716.01    | 0.10%             | 2031-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                                     | CDS REPUBLIC OF PHILIPPINES                            | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $901.33       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Amgen Inc.                                                                          | AMGN 5.25 03/02/30                                     | CUSIP: 031162DQ0<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    239000 | PA      | $245504.14    | 0.11%             | 2030-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS USD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-29059.07    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Arch Capital Group (U.S.) Inc.                                                      | ACGL 5.144 11/01/43                                    | CUSIP: 03938JAA7<br>LEI: 549300B4QKQFLY1XST28 | Long             | DBT              | CORP              | US        |     36000 | PA      | $33203.96     | 0.02%             | 2043-11-01      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| CFIP CLO 2021-1 LTD                                                                 | CFIP 2021-1A C1                                        | CUSIP: 12529QAG4<br>LEI: 549300NTT3VNL25G1526 | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $299296.20    | 0.14%             | 2035-01-22      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| Global Payments Inc                                                                 | GPN 5.55 11/15/35                                      | CUSIP: 37940XAY8<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    305000 | PA      | $293277.66    | 0.13%             | 2035-11-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners Lp                                                         | CQP 5.95 06/30/33                                      | CUSIP: 16411QAQ4<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |     75000 | PA      | $78664.67     | 0.04%             | 2033-06-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| LIBERTY STREET TRUST 2026-225L                                                      | LBTY 2026-225L A                                       | CUSIP: 50178LAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425000 | PA      | $417540.23    | 0.19%             | 2031-02-10      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| Regency Centers, L.P.                                                               | REG 2.95 09/15/29                                      | CUSIP: 75884RAZ6<br>LEI: 5493008PTR2GAOYBXW28 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95233.61     | 0.04%             | 2029-09-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Applied Materials Inc.                                                              | AMAT 1.75 06/01/30                                     | CUSIP: 038222AN5<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22494.35     | 0.01%             | 2030-06-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Finance Corporation                                              | BRK 1.85 03/12/30                                      | CUSIP: 084664CU3<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |     75000 | PA      | $68748.01     | 0.03%             | 2030-03-12      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| Fidelity Grand Harbour Clo 2023-1 DAC                                               | FICLO 2023-1A B1R                                      | CUSIP: 000000000<br>LEI: 635400GMXFDXRDDHLG52 | Long             | ABS-O            | CORP              | IE        |    350000 | PA      | $401687.25    | 0.18%             | 2038-02-15      | Floating      | 3.73%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 1.25 05/31/28                                        | CUSIP: 91282CCE9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2830000 | PA      | $2680319.52   | 1.21%             | 2028-05-31      | Fixed         | 1.25%                 | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                                            | G2-30YR-Multi                                          | CUSIP: 21H020642<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3000000 | PA      | $2473971.00   | 1.12%             | 2056-04-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD8396                                              | CUSIP: 3132DWKH5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    953563 | PA      | $974736.95    | 0.44%             | 2054-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                                            | CURRENCY CONTRACT - USD                                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3748.53      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Targa Resources Corp.                                                               | TRGP 4.2 02/01/33                                      | CUSIP: 87612GAA9<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |     55000 | PA      | $52134.78     | 0.02%             | 2033-02-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| NatWest Group PLC                                                                   | NWG V5.115 05/23/31                                    | CUSIP: 639057AV0<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $202005.17    | 0.09%             | 2031-05-23      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN FM8779                                              | CUSIP: 3140XCXH6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     77281 | PA      | $66347.07     | 0.03%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Prologis, L.P.                                                                      | PLD 4.625 01/15/33                                     | CUSIP: 74340XBT7<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123546.89    | 0.06%             | 2033-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                         | ABBV 4.05 11/21/39                                     | CUSIP: 00287YCA5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    107000 | PA      | $93904.43     | 0.04%             | 2039-11-21      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                         | COF V6.183 01/30/36                                    | CUSIP: 14040HDJ1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    835000 | PA      | $848512.39    | 0.38%             | 2036-01-30      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Security Stripped Interest Security                                   | S 0 11/15/30                                           | CUSIP: 9128337N4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    430000 | PA      | $358089.26    | 0.16%             | 2030-11-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| UBS Group AG                                                                        | UBS 4.55 04/17/26                                      | CUSIP: 902613BB3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    250000 | PA      | $250027.45    | 0.11%             | 2026-04-17      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Mars Inc.                                                                           | MARS 3.2 04/01/30 144A                                 | CUSIP: 571676AB1<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23860.82     | 0.01%             | 2030-04-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| NXP B V / NXP Funding LLC & NXP USA Inc                                             | NXPI 3.4 05/01/30                                      | CUSIP: 62954HAY4<br>LEI: 724500RKKW4NOJ9YQF60 | Long             | DBT              | CORP              | NL        |     25000 | PA      | $23828.40     | 0.01%             | 2030-05-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                         | 2-Year T-Note Futures, Jun-2026,ETH                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        40 | NC      | $-31515.93    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc.                                                                     | CRM 4.9 09/15/31                                       | CUSIP: 79466LAS3<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |    900000 | PA      | $898778.82    | 0.41%             | 2031-09-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Sutter Health                                                                       | SUTHEA 2.294 08/15/30 20A                              | CUSIP: 86944BAG8<br>LEI: 549300MJCC12LU768G81 | Long             | DBT              | CORP              | US        |     40000 | PA      | $36443.12     | 0.02%             | 2030-08-15      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| Agree LP                                                                            | ADC 4.8 10/01/32                                       | CUSIP: 008513AD5<br>LEI: 549300DXY3G299V1BO77 | Long             | DBT              | CORP              | US        |    170000 | PA      | $168118.42    | 0.08%             | 2032-10-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                                            | CURRENCY CONTRACT - CHF                                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2569.84     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BENCHMARK 2024-V8 MORTGAGE TRUST                                                    | BMARK 2024-V8 A3                                       | CUSIP: 08190AAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $208887.36    | 0.09%             | 2057-07-17      | Variable      | 6.19%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Security Stripped Interest Security                                   | S 0 08/15/33                                           | CUSIP: 9128334W7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    430000 | PA      | $315588.36    | 0.14%             | 2033-08-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury Bonds                                                        | T 4.75 11/15/53                                        | CUSIP: 912810TV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1130000 | PA      | $1098748.44   | 0.50%             | 2053-11-15      | Fixed         | 4.75%                 | No            |                  1 | On Loan: No      |
| Barclays Dryrock Issuance Trust                                                     | DROCK 2023-1 A                                         | CUSIP: 06742LAX1<br>LEI: 213800R4G3N2G68CHU37 | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $600197.72    | 0.27%             | 2029-02-15      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Tractor Supply Co                                                                   | TSCO 1.75 11/01/30                                     | CUSIP: 892356AA4<br>LEI: 549300OJ9VZHZRO6I137 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44101.69     | 0.02%             | 2030-11-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECONOMIC DEV CORP                                                       | MD MDSDEV 5.02 11/30/2033                              | CUSIP: 574205JB7<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |     65000 | PA      | $66477.14     | 0.03%             | 2033-11-30      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V2.551 02/04/28 MTN                                | CUSIP: 06051GKJ7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    400000 | PA      | $393867.58    | 0.18%             | 2028-02-04      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 4.75 05/15/55                                        | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    550000 | PA      | $535476.56    | 0.24%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  1 | On Loan: No      |
| J P MORGAN MORTGAGE TRUST 2025-NQM4                                                 | JPMMT 2025-NQM4 A1A                                    | CUSIP: 46660HAA4<br>LEI: 529900AW45JIN41HJ284 | Long             | ABS-O            | CORP              | US        |    533308 | PA      | $530249.94    | 0.24%             | 2066-03-25      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                        | AVGO 3.137 11/15/35 144A                               | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    162000 | PA      | $137642.59    | 0.06%             | 2035-11-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                                            | CURRENCY CONTRACT - EUR                                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-6949.08     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2-30YR-Multi                                          | CUSIP: 21H032647<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1000000 | PA      | $916653.00    | 0.41%             | 2056-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST 2024-AIRC                                              | BX 2024-AIRC A                                         | CUSIP: 12433CAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    173450 | PA      | $173612.85    | 0.08%             | 2041-08-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPM V5.576 07/23/36                                    | CUSIP: 46647PFC5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    410000 | PA      | $415475.34    | 0.19%             | 2036-07-23      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| NXP B V / NXP Funding LLC & NXP USA Inc                                             | NXPI 2.5 05/11/31                                      | CUSIP: 62954HBA5<br>LEI: 724500RKKW4NOJ9YQF60 | Long             | DBT              | CORP              | NL        |    125000 | PA      | $112250.30    | 0.05%             | 2031-05-11      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CA7379                                              | CUSIP: 3140QFFV6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    461883 | PA      | $412865.60    | 0.19%             | 2050-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Healthcare Realty Holdings L.P                                                      | HR 2.05 03/15/31                                       | CUSIP: 42225UAM6<br>LEI: 549300IYGAS4GE6VDL07 | Long             | DBT              | CORP              | US        |     25000 | PA      | $21713.72     | 0.01%             | 2031-03-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                               | ROMANI 2.124 07/16/31 144A                             | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     10000 | PA      | $9919.97      | 0.00%             | 2031-07-16      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V2.299 07/21/32                                    | CUSIP: 06051GKA6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    110000 | PA      | $97056.11     | 0.04%             | 2032-07-21      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| DP World Crescent LTD                                                               | DPWDU 3.875 07/18/29 EMTN                              | CUSIP: 000000000<br>LEI: 21380096JRTWB8TL9236 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $189621.00    | 0.09%             | 2029-07-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Fox Corporation                                                                     | FOXA 4.709 01/25/29                                    | CUSIP: 35137LAH8<br>LEI: 549300DDU6FDRBIELS05 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25077.15     | 0.01%             | 2029-01-25      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 4.75 02/15/41                                        | CUSIP: 912810QN1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2370000 | PA      | $2381850.00   | 1.08%             | 2041-02-15      | Fixed         | 4.75%                 | No            |                  1 | On Loan: No      |
| Northrop Grumman Corporation                                                        | NOC 5.25 05/01/50                                      | CUSIP: 666807BU5<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46343.67     | 0.02%             | 2050-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS GBP                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $2721.75      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HONDA AUTO RECEIVABLES 2023-4 OWNER TRUST                                           | HAROT 2023-4 A3                                        | CUSIP: 438123AC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    290725 | PA      | $293172.12    | 0.13%             | 2028-06-21      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 2.875 05/15/28                                       | CUSIP: 9128284N7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    970000 | PA      | $951585.15    | 0.43%             | 2028-05-15      | Fixed         | 2.88%                 | No            |                  1 | On Loan: No      |
| The Campbells Co.                                                                   | CPB 4.75 03/23/35                                      | CUSIP: 134429BQ1<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |     95000 | PA      | $87443.18     | 0.04%             | 2035-03-23      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Indonesia (Republic of)                                                             | INDON 4.85 01/11/33                                    | CUSIP: 455780DR4<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    200000 | PA      | $196222.88    | 0.09%             | 2033-01-11      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Corp.                                                                   | FE 2.65 03/01/30                                       | CUSIP: 337932AL1<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92693.99     | 0.04%             | 2030-03-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS JPY                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-95739.69    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank Credit Card Issuance Trust                                                 | CCCIT 2025-A2 A                                        | CUSIP: 17305EHB4<br>LEI: R8AG6FXVDQAMDKCSJJ64 | Long             | ABS-O            | CORP              | US        |    375000 | PA      | $378947.93    | 0.17%             | 2032-06-21      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CA2156                                              | CUSIP: 3140Q9ME0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    130410 | PA      | $124751.97    | 0.06%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                                                             | UNH 3.05 05/15/41                                      | CUSIP: 91324PEE8<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    125000 | PA      | $92630.61     | 0.04%             | 2041-05-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Plains All American Pipeline L.P.                                                   | PAA 3.8 09/15/30                                       | CUSIP: 72650RBN1<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24079.65     | 0.01%             | 2030-09-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Eagle Funding Luxco S.a.r.l.                                                        | MEXPCP 5.5 08/17/30 144A                               | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | CORP              | LU        |    570000 | PA      | $572160.29    | 0.26%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                          | BA 3.45 11/01/28                                       | CUSIP: 097023CA1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48862.22     | 0.02%             | 2028-11-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| POLUS US CLO II LTD                                                                 | POLUS 2025-2A A1                                       | CUSIP: 73163VAC5<br>LEI: 254900AGAA5TXFLBCL85 | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $400832.80    | 0.18%             | 2038-07-20      | Variable      | 5.19%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FR RA3851                                              | CUSIP: 3133KKH44<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    226892 | PA      | $202813.23    | 0.09%             | 2050-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                      | BNP V5.786 01/13/33 144A                               | CUSIP: 09659W3A0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    290000 | PA      | $299428.46    | 0.14%             | 2033-01-13      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                                            | CURRENCY CONTRACT - USD                                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $2654.04      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VMware LLC                                                                          | VMW 2.2 08/15/31                                       | CUSIP: 928563AL9<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    100000 | PA      | $87854.14     | 0.04%             | 2031-08-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                  | ET 5.75 02/15/33                                       | CUSIP: 29273VAQ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    275000 | PA      | $285991.42    | 0.13%             | 2033-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                                                               | WSTP V4.322 11/23/31 GMTN                              | CUSIP: 961214DF7<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |     25000 | PA      | $24933.61     | 0.01%             | 2031-11-23      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| Banner Health                                                                       | BANNER 2.338 01/01/30                                  | CUSIP: 06654DAB3<br>LEI: PLD0E0WJKFN8IZJ2WD85 | Long             | DBT              | CORP              | US        |    120000 | PA      | $111251.66    | 0.05%             | 2030-01-01      | Fixed         | 2.34%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNMA-30YR                                              | CUSIP: 01F050643<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |  -2000000 | PA      | $-1971760.00  | -0.89%            | 2056-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPM V5.572 04/22/36                                    | CUSIP: 46647PEX0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    430000 | PA      | $442341.67    | 0.20%             | 2036-04-22      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                        | UBS V5.58 05/09/36 144A                                | CUSIP: 902613BQ0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    255000 | PA      | $258432.50    | 0.12%             | 2036-05-09      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Dell International LLC / EMC Corp.                                                  | DELL 5.3 10/01/29                                      | CUSIP: 24703TAG1<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25511.71     | 0.01%             | 2029-10-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                                                                 | KMI 4.3 03/01/28                                       | CUSIP: 49456BAP6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    275000 | PA      | $274758.04    | 0.12%             | 2028-03-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc.                                                                       | ENBCN 2.5 08/01/33                                     | CUSIP: 29250NBF1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    125000 | PA      | $106259.65    | 0.05%             | 2033-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 2.625 05/31/27                                       | CUSIP: 91282CET4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    640000 | PA      | $631350.00    | 0.29%             | 2027-05-31      | Fixed         | 2.62%                 | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA3174                                              | CUSIP: 36179RQ36<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     47688 | PA      | $45706.40     | 0.02%             | 2045-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA5467                                              | CUSIP: 36179UCC4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     77288 | PA      | $76042.92     | 0.03%             | 2048-09-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cencora Inc                                                                         | COR 2.7 03/15/31                                       | CUSIP: 03073EAT2<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |    425000 | PA      | $387557.84    | 0.18%             | 2031-03-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS JPY                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $6434.94      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | GN 480352                                              | CUSIP: 36209STH4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       553 | PA      | $556.01       | 0.00%             | 2028-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CHUBB CORP (THE)                                                                    | CB 6.8 11/15/31                                        | CUSIP: 171232AE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    171000 | PA      | $188627.69    | 0.09%             | 2031-11-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                            | T 2.3 06/01/27                                         | CUSIP: 00206RJX1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    288000 | PA      | $281609.70    | 0.13%             | 2027-06-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN 323994                                              | CUSIP: 31374T3B3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       809 | PA      | $824.34       | 0.00%             | 2029-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Arini US CLO III Ltd. / Arini US CLO III LLC                                        | ARIN 3A A                                              | CUSIP: 04039YAA0<br>LEI: 254900RLGVSRR5ZHHW52 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $748380.75    | 0.34%             | 2039-01-15      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPM V4.898 01/22/37                                    | CUSIP: 46647PFJ0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146742.57    | 0.07%             | 2037-01-22      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Colt 2024-INV1 Mortgage Loan Trust                                                  | COLT 2024-INV1 A1                                      | CUSIP: 12672RAA0<br>LEI: 213800D3JCL6LSBI3544 | Long             | ABS-O            | CORP              | US        |    203548 | PA      | $204103.34    | 0.09%             | 2068-12-26      | Variable      | 5.90%                 | No            |                  2 | On Loan: No      |
| Adobe Inc                                                                           | ADBE 2.15 02/01/27                                     | CUSIP: 00724PAC3<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49267.79     | 0.02%             | 2027-02-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Progress Energy Inc.                                                                | DUK 7 10/30/31                                         | CUSIP: 743263AG0<br>LEI: 549300FBMTW0JYWMNB26 | Long             | DBT              | CORP              | US        |     95000 | PA      | $104477.20    | 0.05%             | 2031-10-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2018-BILT                                                                  | BX 2026-CSMO A                                         | CUSIP: 12433LAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $499844.35    | 0.23%             | 2031-02-15      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR11                                                                    | BANK5 2024-5YR11 AS                                    | CUSIP: 06644WBL1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $155043.36    | 0.07%             | 2057-11-19      | Variable      | 6.14%                 | No            |                  2 | On Loan: No      |
| Constellation Software Inc.                                                         | CSUCN 5.461 02/16/34 144A                              | CUSIP: 21037XAD2<br>LEI: 549300B6PYHMCTDWQV29 | Long             | DBT              | CORP              | CA        |     97000 | PA      | $95044.52     | 0.04%             | 2034-02-16      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                                                           | TD 4.456 06/08/32                                      | CUSIP: 89115A2E1<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    175000 | PA      | $172338.44    | 0.08%             | 2032-06-08      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                              | FHMS K-152 A2                                          | CUSIP: 3137H9M89<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    200000 | PA      | $193225.08    | 0.09%             | 2032-11-25      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2024-1                                                     | JPMMT 2024-1 A4                                        | CUSIP: 46657PAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     68022 | PA      | $68168.02     | 0.03%             | 2054-06-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Canadian Pacific Railway Company                                                    | CP 2.05 03/05/30                                       | CUSIP: 13648TAA5<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |     25000 | PA      | $22871.35     | 0.01%             | 2030-03-05      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                            | T 2.75 06/01/31                                        | CUSIP: 00206RJY9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45700.04     | 0.02%             | 2031-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 4.65 05/06/30                                     | CUSIP: 68389XCN3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    175000 | PA      | $171009.56    | 0.08%             | 2030-05-06      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Regal Rexnord Corporation                                                           | RRX 6.3 02/15/30 *                                     | CUSIP: 758750AN3<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    453000 | PA      | $474710.97    | 0.21%             | 2030-02-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| American Tower Corporation                                                          | AMT 2.1 06/15/30                                       | CUSIP: 03027XBC3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |     75000 | PA      | $67533.77     | 0.03%             | 2030-06-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| The Cigna Group                                                                     | CI 5.125 05/15/31                                      | CUSIP: 125523CU2<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    260000 | PA      | $265487.80    | 0.12%             | 2031-05-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                                     | CDS CDX.NA.IG.43.V1                                    | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $36631.47     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2026-VIS1                                                  | JPMMT 2026-VIS1 A1A                                    | CUSIP: 46660PAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    422019 | PA      | $417949.95    | 0.19%             | 2066-06-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA5653                                              | CUSIP: 36179UH62<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     28388 | PA      | $28592.48     | 0.01%             | 2048-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Banks                                                             | FHLB 4.75 12/10/32                                     | CUSIP: 3130ATVX2<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |    430000 | PA      | $443264.70    | 0.20%             | 2032-12-10      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CSX Corporation                                                                     | CSX 3.8 03/01/28                                       | CUSIP: 126408HJ5<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173528.43    | 0.08%             | 2028-03-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Banks                                                             | FHLB 3.375 09/10/32                                    | CUSIP: 3130AT4C8<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |    250000 | PA      | $238719.17    | 0.11%             | 2032-09-10      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Ingersoll Rand Inc                                                                  | IR 5.7 08/14/33                                        | CUSIP: 45687VAB2<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |     90000 | PA      | $93475.10     | 0.04%             | 2033-08-14      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | GN 462363                                              | CUSIP: 36208VTU9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       426 | PA      | $430.13       | 0.00%             | 2027-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | GN 462268                                              | CUSIP: 36208VQV0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |        43 | PA      | $43.22        | 0.00%             | 2027-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA5330                                              | CUSIP: 36179T4P7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    716592 | PA      | $683234.34    | 0.31%             | 2048-07-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPM V3.782 02/01/28                                    | CUSIP: 46625HRY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    972000 | PA      | $966850.16    | 0.44%             | 2028-02-01      | Fixed         | 3.78%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                                                        | MAR 4.5 05/01/33                                       | CUSIP: 571903BY8<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    195000 | PA      | $188224.25    | 0.09%             | 2033-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Expedia Group Inc                                                                   | EXPE 3.25 02/15/30                                     | CUSIP: 30212PAR6<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |     85000 | PA      | $80389.98     | 0.04%             | 2030-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V4.271 07/23/29 MTN                                | CUSIP: 06051GHM4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49793.35     | 0.02%             | 2029-07-23      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| Howmet Aerospace Inc                                                                | HWM 4.85 10/15/31                                      | CUSIP: 443201AC2<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |    122000 | PA      | $123363.00    | 0.06%             | 2031-10-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST 2026-DSC1                            | MSRM 2026-DSC1 A1                                      | CUSIP: 617950AC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    521125 | PA      | $515202.31    | 0.23%             | 2071-01-25      | Variable      | 4.77%                 | No            |                  2 | On Loan: No      |
| Baylor Scott & White Holdings                                                       | BSWHLD 1.777 11/15/30 2021                             | CUSIP: 072863AH6<br>LEI: 549300JQDKSBWYRGGV95 | Long             | DBT              | CORP              | US        |     40000 | PA      | $35521.23     | 0.02%             | 2030-11-15      | Fixed         | 1.78%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                  | TMUS 3.875 04/15/30                                    | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     83000 | PA      | $80802.90     | 0.04%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Uber Technologies Inc                                                               | UBER 4.5 08/15/29 144A                                 | CUSIP: 90353TAK6<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173412.90    | 0.08%             | 2029-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS CAD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $2322.81      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Midamerican Energy Company                                                          | BRKHEC 3.65 04/15/29                                   | CUSIP: 595620AT2<br>LEI: NINLOILYRTLIMK26MZ18 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24556.27     | 0.01%             | 2029-04-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| OHA CREDIT FUNDING 7 LTD                                                            | OAKC 2020-7A A1R2                                      | CUSIP: 67098WAY7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    650000 | PA      | $650035.10    | 0.29%             | 2038-07-19      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Energy Company                                                   | BRKHEC 3.7 07/15/30                                    | CUSIP: 084659AV3<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48554.87     | 0.02%             | 2030-07-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                             | MPLX 4.5 04/15/38                                      | CUSIP: 55336VAM2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     35000 | PA      | $31493.39     | 0.01%             | 2038-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AQ4055                                              | CUSIP: 3138MKQH2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5887 | PA      | $5455.51      | 0.00%             | 2043-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPM V2.522 04/22/31                                    | CUSIP: 46647PBL9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23098.08     | 0.01%             | 2031-04-22      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS EUR                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-82644.83    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 5.7 02/04/36                                      | CUSIP: 68389XDZ5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    280000 | PA      | $269196.21    | 0.12%             | 2036-02-04      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Stryker Corporation                                                                 | SYK 1.95 06/15/30                                      | CUSIP: 863667AY7<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |    100000 | PA      | $90343.23     | 0.04%             | 2030-06-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS GBP                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $9137.42      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 5.35 05/04/33                                     | CUSIP: 68389XDY8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    310000 | PA      | $301620.31    | 0.14%             | 2033-05-04      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR QE0860                                              | CUSIP: 3133B95V2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    743637 | PA      | $721315.71    | 0.33%             | 2052-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AT0654                                              | CUSIP: 3138WMWQ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     13047 | PA      | $12034.73     | 0.01%             | 2043-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 3.75 04/30/27                                        | CUSIP: 91282CMY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9310000 | PA      | $9306363.23   | 4.21%             | 2027-04-30      | Fixed         | 3.75%                 | No            |                  1 | On Loan: No      |
| The East Ohio Gas Company                                                           | ENBCN 2 06/15/30 144A                                  | CUSIP: 27409LAC7<br>LEI: BC95Y6MXLT75BGO7UM71 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22442.28     | 0.01%             | 2030-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR RA5801                                              | CUSIP: 3133KMNS0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    682408 | PA      | $583303.79    | 0.26%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Intel Corporation                                                                   | INTC 5.2 02/10/33                                      | CUSIP: 458140CG3<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    175000 | PA      | $176349.62    | 0.08%             | 2033-02-10      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Electronic Arts Inc.                                                                | EA 2.95 02/15/51                                       | CUSIP: 285512AF6<br>LEI: 549300O7A67PUEYKDL45 | Long             | DBT              | CORP              | US        |    179000 | PA      | $144519.58    | 0.07%             | 2051-02-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| CommonSpirit Health                                                                 | CATMED 4.352 09/01/30                                  | CUSIP: 20268JAY9<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |    205000 | PA      | $202113.61    | 0.09%             | 2030-09-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 6 08/03/55                                        | CUSIP: 68389XDB8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    100000 | PA      | $83844.32     | 0.04%             | 2055-08-03      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CommonSpirit Health                                                                 | CATMED 6.461 11/01/52                                  | CUSIP: 20268JAM5<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |    225000 | PA      | $238471.74    | 0.11%             | 2052-11-01      | Fixed         | 6.46%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN 540756                                              | CUSIP: 31385CWR0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1017 | PA      | $1030.21      | 0.00%             | 2030-05-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CARLYLE US CLO 2021-1 LTD                                                           | CGMS 2021-1A A1AR                                      | CUSIP: 14316MAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    275000 | PA      | $275157.30    | 0.12%             | 2040-01-17      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST BRD ADMIN FIN CORP                                                       | FL FLSGEN 2.15 07/01/2030                              | CUSIP: 341271AF1<br>LEI: 549300S34SOJ0RULXM35 | Long             | DBT              | MUN               | US        |     70000 | PA      | $64427.01     | 0.03%             | 2030-07-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST 2026-R01                                        | CAS 2026-R01 2A1                                       | CUSIP: 20755BAA8<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |    599557 | PA      | $597667.29    | 0.27%             | 2046-01-25      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev Worldwide Inc.                                                 | ABIBB 5.45 01/23/39                                    | CUSIP: 03523TBU1<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40646.53     | 0.02%             | 2039-01-23      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Fnma Pass-Thru I                                                                    | FN FA2426                                              | CUSIP: 3140W2VU2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    974254 | PA      | $999220.97    | 0.45%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Security Stripped Interest Security                                   | S 0 08/15/35                                           | CUSIP: 9128335A4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    550000 | PA      | $365061.46    | 0.17%             | 2035-08-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury Notes                                                        | T 3.75 05/31/30                                        | CUSIP: 91282CHF1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    760000 | PA      | $755428.12    | 0.34%             | 2030-05-31      | Fixed         | 3.75%                 | No            |                  1 | On Loan: No      |
| Bunge Ltd Finance Corp.                                                             | BG 4.2 09/17/29                                        | CUSIP: 120568BE9<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |    139000 | PA      | $137631.49    | 0.06%             | 2029-09-17      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| BANK 2021-BNK32                                                                     | BANK 2021-BN32 A5                                      | CUSIP: 06542BBH9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $136380.77    | 0.06%             | 2054-04-17      | Variable      | 2.64%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2-30YR-Multi                                          | CUSIP: 21H052645<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5000000 | PA      | $5029650.00   | 2.27%             | 2056-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | CAS 2024-R01 1M2                                       | CUSIP: 20753UAB6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    100000 | PA      | $100431.92    | 0.05%             | 2044-01-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| NXP B V / NXP Funding LLC & NXP USA Inc                                             | NXPI 2.65 02/15/32                                     | CUSIP: 62954HAJ7<br>LEI: 724500RKKW4NOJ9YQF60 | Long             | DBT              | CORP              | NL        |    125000 | PA      | $110321.08    | 0.05%             | 2032-02-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | MS V3.622 04/01/31 MTN                                 | CUSIP: 6174468P7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47937.47     | 0.02%             | 2031-04-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                             | MPLX 2.65 08/15/30                                     | CUSIP: 55336VBQ2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     75000 | PA      | $69102.10     | 0.03%             | 2030-08-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| DURST COMMERCIAL MORTGAGE TRUST 2025-151                                            | DURST 2025-151 A                                       | CUSIP: 266895AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    450000 | PA      | $453736.38    | 0.21%             | 2042-08-12      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 4.8 09/26/32                                      | CUSIP: 68389XDK8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    320000 | PA      | $304480.57    | 0.14%             | 2032-09-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Diameter Capital Clo 1 Ltd / Llc                                                    | DCLO 2021-1A A1R                                       | CUSIP: 25255DAL4<br>LEI: 25490018I1ROE4V49X69 | Long             | ABS-CBDO         | CORP              | KY        |    425000 | PA      | $425266.48    | 0.19%             | 2037-10-15      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| FedEx Corporation                                                                   | FDX 3.4 02/15/28 *                                     | CUSIP: 31428XDD5<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44192.69     | 0.02%             | 2028-02-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                            | T 4.9 08/15/37                                         | CUSIP: 00206RFW7<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23989.64     | 0.01%             | 2037-08-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANKS                                                             | FR SD7543                                              | CUSIP: 3132DVLY9<br>LEI: 2549001DPIFGXC1TOL40 | Long             | ABS-MBS          | USGSE             | US        |   1653324 | PA      | $1419516.59   | 0.64%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V5.045 02/06/37                                    | CUSIP: 060505GR9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1280000 | PA      | $1262852.22   | 0.57%             | 2037-02-06      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINES OPERATING CO LLC                                                 | CPGX 6.036 11/15/33 144A                               | CUSIP: 19828TAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    240000 | PA      | $253000.98    | 0.11%             | 2033-11-15      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS NZD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-38010.72    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA5711                                              | CUSIP: 36179UKY7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    181332 | PA      | $178353.26    | 0.08%             | 2049-01-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY COMMERCIAL REAL ESTATE NOTES 2022-FL1                                  | ARCLO 2022-FL1 A                                       | CUSIP: 03880XAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     80571 | PA      | $80570.72     | 0.04%             | 2037-01-15      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| CSMC 2021-NQM6 TRUST                                                                | CSMC 2021-NQM6 A1                                      | CUSIP: 12662KAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    269003 | PA      | $231926.87    | 0.10%             | 2066-07-25      | Variable      | 1.17%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | MS 3.625 01/20/27                                      | CUSIP: 61746BEF9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24893.21     | 0.01%             | 2027-01-20      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Halseypoint CLO 7 Ltd / LLC                                                         | HLSY 2023-7A A1R                                       | CUSIP: 40638LAL3<br>LEI: 5493000LI3XMVBCJEF82 | Long             | ABS-CBDO         | CORP              | JE        |    600000 | PA      | $600529.80    | 0.27%             | 2038-07-20      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                                            | CURRENCY CONTRACT - USD                                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $30511.21     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FN AB9021                                              | CUSIP: 31417GAX4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     56510 | PA      | $52144.42     | 0.02%             | 2043-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| B.A.T. Capital Corporation                                                          | BATSLN 5.625 08/15/35                                  | CUSIP: 05526DCC7<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    225000 | PA      | $231498.75    | 0.10%             | 2035-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Principal Financial Group Inc.                                                      | PFG 3.1 11/15/26                                       | CUSIP: 74251VAM4<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49640.95     | 0.02%             | 2026-11-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | TII 1.5 02/15/53                                       | CUSIP: 912810TP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    550000 | PA      | $460624.41    | 0.21%             | 2053-02-15      | Fixed         | 1.50%                 | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                               | FNMA-30YR                                              | CUSIP: 01F020646<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5000000 | PA      | $4024110.00   | 1.82%             | 2056-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNMA-30YR                                              | CUSIP: 01F052649<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3000000 | PA      | $3013410.00   | 1.36%             | 2056-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                                        | RCL 5.25 02/27/38                                      | CUSIP: 78017TAD5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    850000 | PA      | $808187.18    | 0.37%             | 2038-02-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                         | VZ 2.55 03/21/31                                       | CUSIP: 92343VGJ7<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    200000 | PA      | $181576.17    | 0.08%             | 2031-03-21      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                                     | FR ZS4786                                              | CUSIP: 3132A5J71<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3581 | PA      | $3497.03      | 0.00%             | 2048-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS USD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $10377.88     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ashtead Capital Inc.                                                                | AHTLN 5.8 04/15/34 144A                                | CUSIP: 045054AS2<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    209000 | PA      | $213229.38    | 0.10%             | 2034-04-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 1.25 06/30/28                                        | CUSIP: 91282CCH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3050000 | PA      | $2882726.56   | 1.30%             | 2028-06-30      | Fixed         | 1.25%                 | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                               | FNMA-30YR                                              | CUSIP: 01F032641<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2000000 | PA      | $1832746.00   | 0.83%             | 2056-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNR 2012-111 B                                         | CUSIP: 3136A9EA2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |      3336 | PA      | $3553.18      | 0.00%             | 2042-10-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BLP COMMERCIAL MORTGAGE TRUST 2024-IND2                                             | BLP 2024-IND2 A                                        | CUSIP: 05625AAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    214164 | PA      | $214029.87    | 0.10%             | 2041-03-15      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Company Inc                                                | GM 1.5 06/10/26                                        | CUSIP: 37045XDK9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124223.39    | 0.06%             | 2026-06-10      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| KIND COMMERCIAL MORTGAGE TRUST 2024-1                                               | KIND 2024-1 A                                          | CUSIP: 494925AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $349781.08    | 0.16%             | 2041-08-15      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V4.571 04/27/33                                    | CUSIP: 06051GKQ1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    390000 | PA      | $382820.82    | 0.17%             | 2033-04-27      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.                                               | ARE 3.375 08/15/31                                     | CUSIP: 015271AR0<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23054.60     | 0.01%             | 2031-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR8                                                                     | BANK5 2024-5YR8 A3                                     | CUSIP: 065923AY0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $154881.00    | 0.07%             | 2057-08-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Company                                                    | PCG 2.5 02/01/31                                       | CUSIP: 694308JG3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44847.49     | 0.02%             | 2031-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN MUN PWR OHIO INC                                                           | OH AMEPWR 6.27 02/15/2050                              | CUSIP: 02765UEQ3<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |     95000 | PA      | $97306.60     | 0.04%             | 2050-02-15      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS CAD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $187.92       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Southern Co.                                                                        | SO 3.25 07/01/26                                       | CUSIP: 842587CV7<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59860.02     | 0.03%             | 2026-07-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Blackstone Secured Lending Fund                                                     | BXSL 5.875 11/15/27                                    | CUSIP: 09261XAH5<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    125000 | PA      | $125471.85    | 0.06%             | 2027-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                   | WFC V4.808 07/25/28 MTN                                | CUSIP: 95000U3A9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    215000 | PA      | $215899.65    | 0.10%             | 2028-07-25      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                          | BA 5.705 05/01/40                                      | CUSIP: 097023CV5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    325000 | PA      | $325555.30    | 0.15%             | 2040-05-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                               | ROMANI 6.125 10/07/37 REGS                             | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    270000 | PA      | $302756.80    | 0.14%             | 2037-10-07      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CA7376                                              | CUSIP: 3140QFFS3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    475029 | PA      | $425803.40    | 0.19%             | 2050-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BFLD COMMERCIAL MORTGAGE TRUST 2025-5MW                                             | BFLD 2025-5MW A                                        | CUSIP: 088921AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $987609.40    | 0.45%             | 2042-10-10      | Variable      | 4.67%                 | No            |                  2 | On Loan: No      |
| Kilroy Realty L.P.                                                                  | KRC 4.75 12/15/28                                      | CUSIP: 49427RAN2<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19849.49     | 0.01%             | 2028-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Carrier Global Corporation                                                          | CARR 5.9 03/15/34                                      | CUSIP: 14448CBC7<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |    166000 | PA      | $175207.67    | 0.08%             | 2034-03-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD0294                                              | CUSIP: 3132DMKF1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    659059 | PA      | $645043.30    | 0.29%             | 2050-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNMA-30YR                                              | CUSIP: 01F040644<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1000000 | PA      | $943204.00    | 0.43%             | 2056-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V4.948 07/22/28 MTN                                | CUSIP: 06051GKW8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    305000 | PA      | $306914.77    | 0.14%             | 2028-07-22      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BANK 2021-BNK31                                                                     | BANK 2021-BN31 AS                                      | CUSIP: 06541ABP4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    475000 | PA      | $409793.95    | 0.19%             | 2054-02-18      | Fixed         | 2.21%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Trust                                                                 | Goldman Sachs Financial Square Government Fund         | CUSIP: 38141W273<br>LEI: S2FHCT8U6D2VORP0J605 | Long             | STIV             | RF                | US        |   1329992 | NS      | $1329992.04   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| WISE CLO LTD 2023-2                                                                 | WYZE 2023-2A A1R                                       | CUSIP: 97719TAJ3<br>LEI: 2549000Z4RGK1HNAPB35 | Long             | ABS-CBDO         | CORP              | JE        |    870000 | PA      | $871266.72    | 0.39%             | 2039-04-15      | Variable      | 4.77%                 | No            |                  2 | On Loan: No      |
| PeaceHealth                                                                         | PEAHEA 4.335 11/15/28                                  | CUSIP: 70462GAE8<br>LEI: PLDU35L52IYZUL5SMS69 | Long             | DBT              | CORP              | US        |    185000 | PA      | $184179.92    | 0.08%             | 2028-11-15      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                                                               | WSTP V4.11 07/24/34                                    | CUSIP: 961214EF6<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |     25000 | PA      | $24373.25     | 0.01%             | 2034-07-24      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN 537149                                              | CUSIP: 31384XWJ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       532 | PA      | $557.98       | 0.00%             | 2030-04-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA6541                                              | CUSIP: 36179VHS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    329280 | PA      | $294668.25    | 0.13%             | 2050-03-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | GN 745101                                              | CUSIP: 3620C0X60<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     30486 | PA      | $31058.71     | 0.01%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Farm Credit Banks                                                           | FFCB 2.9 04/12/32                                      | CUSIP: 3133ENUJ7<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGSE             | US        |    460000 | PA      | $429554.43    | 0.19%             | 2032-04-12      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 0.625 07/31/26                                       | CUSIP: 91282CCP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1720000 | PA      | $1702329.68   | 0.77%             | 2026-07-31      | Fixed         | 0.62%                 | No            |                  1 | On Loan: No      |
| Laboratory Corporation of America Holdings                                          | LH 4.8 10/01/34                                        | CUSIP: 50540RBB7<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |     86000 | PA      | $83763.75     | 0.04%             | 2034-10-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| OBX 2025-NQM21 TRUST                                                                | OBX 2025-NQM21 A1A                                     | CUSIP: 67448BAD6<br>LEI: 254900E5OS34AOMYSY84 | Long             | ABS-O            | CORP              | US        |    521845 | PA      | $519676.05    | 0.23%             | 2065-10-25      | Variable      | 4.99%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA5818                                              | CUSIP: 36179UPB2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     24399 | PA      | $23998.08     | 0.01%             | 2049-03-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Humana Inc.                                                                         | HUM 5.95 03/15/34                                      | CUSIP: 444859BY7<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |     55000 | PA      | $56033.65     | 0.03%             | 2034-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | MS V2.699 01/22/31 GMTN                                | CUSIP: 6174468L6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    400000 | PA      | $371532.52    | 0.17%             | 2031-01-22      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Galaxy Pipeline Assets Bidco Ltd.                                                   | ADGLXY 2.94 09/30/40 REGS                              | CUSIP: 000000000<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |    173276 | PA      | $140370.89    | 0.06%             | 2040-09-30      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2-30YR-Multi                                          | CUSIP: 21H042620<br>LEI: 549300M8ZYFG0OCMTT87 | Short            | ABS-MBS          | USGA              | US        |  -1000000 | PA      | $-989106.00   | -0.45%            | 2056-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS JPY                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-29472.96    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Mars Inc.                                                                           | MARS 5.2 03/01/35 144A                                 | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    650000 | PA      | $655911.07    | 0.30%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO MORTGAGE BACKED SECURITIES 2019-3 TRUST                                 | WFMBS 2019-3 A1                                        | CUSIP: 949831AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4790 | PA      | $4332.32      | 0.00%             | 2049-07-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANKS                                                             | FR SD7540                                              | CUSIP: 3132DVLV5<br>LEI: 2549001DPIFGXC1TOL40 | Long             | ABS-MBS          | USGSE             | US        |    736258 | PA      | $632094.24    | 0.29%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA6089                                              | CUSIP: 36179UXS6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    505579 | PA      | $453995.07    | 0.21%             | 2049-08-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                                     | CDS CDX.NA.IG.44.V1                                    | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $32915.58     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                              | FHMS K544 A2                                           | CUSIP: 3137HMCE8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    650000 | PA      | $649523.42    | 0.29%             | 2030-07-25      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| Expedia Group Inc                                                                   | EXPE 2.95 03/15/31                                     | CUSIP: 30212PBH7<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |     14000 | PA      | $12832.14     | 0.01%             | 2031-03-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch Companies LLC / Anheuser-Busch InBev Worldwide Inc                   | ABIBB 4.7 02/01/36 *                                   | CUSIP: 03522AAH3<br>LEI: 5493002J2SVENP0PVK27 | Long             | DBT              | CORP              | US        |    135000 | PA      | $131453.31    | 0.06%             | 2036-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| UBS AG New York Branch                                                              | UBS 1.25 08/07/26                                      | CUSIP: 22550L2G5<br>LEI: 549300D0YARF5HYP1809 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247364.05    | 0.11%             | 2026-08-07      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V2.482 09/21/36                                    | CUSIP: 06051GKC2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    100000 | PA      | $86387.08     | 0.04%             | 2036-09-21      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| Choice Hotels International, Inc.                                                   | CHH 5.85 08/01/34                                      | CUSIP: 169905AH9<br>LEI: 5493003CYRY5RFGTIR97 | Long             | DBT              | CORP              | US        |    114000 | PA      | $114768.85    | 0.05%             | 2034-08-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                       | USB V5.775 06/12/29                                    | CUSIP: 91159HJM3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    145000 | PA      | $149086.29    | 0.07%             | 2029-06-12      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN BK0918                                              | CUSIP: 3140HEAU6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2323 | PA      | $2222.26      | 0.00%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | MS 3.95 04/23/27                                       | CUSIP: 61761JZN2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19878.00     | 0.01%             | 2027-04-23      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS EUR                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-177314.51   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPM V4.347 01/22/32                                    | CUSIP: 46647PFG6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103508.88    | 0.05%             | 2032-01-22      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| 7-Eleven Inc.                                                                       | SVELEV 1.3 02/10/28 144A                               | CUSIP: 817826AD2<br>LEI: 549300K23JPL0SS3LB18 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94344.13     | 0.04%             | 2028-02-10      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                        | AVGO 4.15 04/15/32 144A                                | CUSIP: 11135FBT7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     74000 | PA      | $71610.29     | 0.03%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2-30YR-Multi                                          | CUSIP: 21H030633<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1000000 | PA      | $892443.00    | 0.40%             | 2056-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Rush University System for Health                                                   | RUSHOB 3.922 11/15/29 2020                             | CUSIP: 78200JAA0<br>LEI: ZF7C375GL43TFX8CCS02 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59045.08     | 0.03%             | 2029-11-15      | Fixed         | 3.92%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V5.202 04/25/29                                    | CUSIP: 06051GLG2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    370000 | PA      | $375250.47    | 0.17%             | 2029-04-25      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Barclays Dryrock Issuance Trust                                                     | DROCK 2025-1 A                                         | CUSIP: 06742LBF9<br>LEI: 213800R4G3N2G68CHU37 | Long             | ABS-O            | CORP              | US        |    425000 | PA      | $424469.90    | 0.19%             | 2031-07-15      | Fixed         | 3.97%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V2.651 03/11/32 N                                  | CUSIP: 06051GJP5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45336.82     | 0.02%             | 2032-03-11      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPM V4.946 10/22/35                                    | CUSIP: 46647PER3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    430000 | PA      | $424592.84    | 0.19%             | 2035-10-22      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                  | TMUS 3.5 04/15/31                                      | CUSIP: 87264ABW4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70997.61     | 0.03%             | 2031-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 3.125 05/15/48                                       | CUSIP: 912810SC3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    480000 | PA      | $361125.00    | 0.16%             | 2048-05-15      | Fixed         | 3.12%                 | No            |                  1 | On Loan: No      |
| Blackstone Private Credit Fund                                                      | BCRED 6 01/29/32                                       | CUSIP: 09261HBX4<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72735.35     | 0.03%             | 2032-01-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fiserv Inc.                                                                         | FISV 4.2 10/01/28                                      | CUSIP: 337738AR9<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24720.84     | 0.01%             | 2028-10-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Elevance Health Inc.                                                                | ELV 4.6 09/15/32                                       | CUSIP: 036752BJ1<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    500000 | PA      | $492078.12    | 0.22%             | 2032-09-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Take-Two Interactive Software Inc.                                                  | TTWO 3.7 04/14/27                                      | CUSIP: 874054AG4<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |     85000 | PA      | $84180.04     | 0.04%             | 2027-04-14      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Huntington Bancshares Incorporated                                                  | HBAN V5.709 02/02/35                                   | CUSIP: 446150BD5<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   1230000 | PA      | $1255299.07   | 0.57%             | 2035-02-02      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings Inc                                                 | NEE 1.9 06/15/28                                       | CUSIP: 65339KBW9<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     70000 | PA      | $66404.24     | 0.03%             | 2028-06-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Costar Group Inc                                                                    | CSGP 2.8 07/15/30 144A                                 | CUSIP: 22160NAA7<br>LEI: 984500Q1D53D08E2E698 | Long             | DBT              | CORP              | US        |    100000 | PA      | $90452.68     | 0.04%             | 2030-07-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Houston Galleria Mall Trust 2025-HGLR                                               | HGMT 2025-HGLR A                                       | CUSIP: 44216XAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    225000 | PA      | $228940.34    | 0.10%             | 2045-02-07      | Variable      | 5.46%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                                                | GLENLN 2.625 09/23/31 144A                             | CUSIP: 378272BG2<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    150000 | PA      | $133603.61    | 0.06%             | 2031-09-23      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Quanta Services, Inc.                                                               | PWR 5.25 08/09/34                                      | CUSIP: 74762EAL6<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |    182000 | PA      | $183139.57    | 0.08%             | 2034-08-09      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper Inc                                                                | KDP 3.8 05/01/50                                       | CUSIP: 49271VAK6<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |     19000 | PA      | $13238.07     | 0.01%             | 2050-05-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Federal Farm Credit Banks                                                           | FFCB 3.3 05/19/32                                      | CUSIP: 3133ENXC9<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGSE             | US        |    230000 | PA      | $219211.87    | 0.10%             | 2032-05-19      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2-30YR-Multi                                          | CUSIP: 21H022648<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2000000 | PA      | $1719290.00   | 0.78%             | 2056-04-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FR RA7541                                              | CUSIP: 3133KPLW6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    455740 | PA      | $443751.48    | 0.20%             | 2052-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Vertiv Holdings Co                                                                  | VRT 4.85 03/15/36                                      | CUSIP: 92537NAA6<br>LEI: 549300KTTIRAOGXCRV69 | Long             | DBT              | CORP              | US        |    465000 | PA      | $452103.54    | 0.20%             | 2036-03-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                            | T 3.5 06/01/41                                         | CUSIP: 00206RJZ6<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     75000 | PA      | $58143.80     | 0.03%             | 2041-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 6.7 02/04/56                                      | CUSIP: 68389XEB7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    135000 | PA      | $125045.17    | 0.06%             | 2056-02-04      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Arizona Public Service Company                                                      | PNW 2.95 09/15/27                                      | CUSIP: 040555CW2<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44010.42     | 0.02%             | 2027-09-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| BFLD COMMERCIAL MORTGAGE TRUST 2025-660F                                            | BFLD 2025-660F A                                       | CUSIP: 05556QAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    650000 | PA      | $646586.10    | 0.29%             | 2042-11-17      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPM V4.493 03/24/31                                    | CUSIP: 46647PBJ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24873.53     | 0.01%             | 2031-03-24      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| M&T Bank Corporation                                                                | MTB V5.385 01/16/36 MTN                                | CUSIP: 55261FAV6<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    450000 | PA      | $446198.00    | 0.20%             | 2036-01-16      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WARWICK CAPITAL CLO 1 LTD                                                           | WWICK 2023-1A AR                                       | CUSIP: 936919AN9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    850000 | PA      | $848312.75    | 0.38%             | 2038-10-20      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| The Campbells Co.                                                                   | CPB 5.4 03/21/34                                       | CUSIP: 134429BP3<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |    279000 | PA      | $270467.13    | 0.12%             | 2034-03-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Dollar Tree Inc                                                                     | DLTR 4.2 05/15/28                                      | CUSIP: 256746AH1<br>LEI: 549300PMSTQITB1WHR43 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49670.26     | 0.02%             | 2028-05-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | MS V5.32 07/19/35                                      | CUSIP: 61747YFT7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    420000 | PA      | $420979.73    | 0.19%             | 2035-07-19      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| MasterCard Incorporated                                                             | MA 3.3 03/26/27                                        | CUSIP: 57636QAR5<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24814.44     | 0.01%             | 2027-03-26      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 4.375 08/15/43                                       | CUSIP: 912810TU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    100000 | PA      | $94390.63     | 0.04%             | 2043-08-15      | Fixed         | 4.38%                 | No            |                  1 | On Loan: No      |
| Allegion US Holding Company Inc                                                     | ALLE 5.6 05/29/34                                      | CUSIP: 01748NAF1<br>LEI: 5493002B66JX7J7SXI33 | Long             | DBT              | CORP              | US        |    110000 | PA      | $112266.01    | 0.05%             | 2034-05-29      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2-30YR-Multi                                          | CUSIP: 21H042638<br>LEI: 549300M8ZYFG0OCMTT87 | Short            | ABS-MBS          | USGA              | US        |  -1000000 | PA      | $-965709.00   | -0.44%            | 2056-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Airbnb Inc                                                                          | ABNB 5.25 03/16/36                                     | CUSIP: 009066AE1<br>LEI: 549300HMUDNO0RY56D37 | Long             | DBT              | CORP              | US        |    305000 | PA      | $304738.51    | 0.14%             | 2036-03-16      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNMA-30YR                                              | CUSIP: 01F060642<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4000000 | PA      | $4075937.60   | 1.84%             | 2056-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                               | ROMANI 4.625 04/03/49 144A                             | CUSIP: 77587RAA7<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     10000 | PA      | $8668.88      | 0.00%             | 2049-04-03      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FR RA5276                                              | CUSIP: 3133KL2H9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    730673 | PA      | $623075.93    | 0.28%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST 2022-1                                                   | VERUS 2022-1 A3                                        | CUSIP: 92538WAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    195392 | PA      | $178486.39    | 0.08%             | 2067-01-25      | Variable      | 3.29%                 | No            |                  2 | On Loan: No      |
| Ares European CLO XXI Designated Activity Co.                                       | ARESE 21A B                                            | CUSIP: 000000000<br>LEI: 254900REPQKNP1XRDH75 | Long             | ABS-O            | CORP              | IE        |    250000 | PA      | $286544.10    | 0.13%             | 2038-04-15      | Floating      | 3.72%                 | No            |                  2 | On Loan: No      |
| Bank 2019-Bnk21                                                                     | BANK 2019-BN21 A5                                      | CUSIP: 06540BBD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $141462.97    | 0.06%             | 2052-10-18      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR9                                                                     | BANK5 2024-5YR9 AS                                     | CUSIP: 06644VBM1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $206821.96    | 0.09%             | 2057-08-17      | Variable      | 6.18%                 | No            |                  2 | On Loan: No      |
| ANGEL OAK MORTGAGE TRUST 2021-8                                                     | AOMT 2021-8 A1                                         | CUSIP: 03465MAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    378839 | PA      | $339482.97    | 0.15%             | 2066-11-25      | Variable      | 1.82%                 | No            |                  2 | On Loan: No      |
| First Horizon Corporation                                                           | FHN V5.514 03/07/31                                    | CUSIP: 320517AE5<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | DBT              | CORP              | US        |    160000 | PA      | $162059.22    | 0.07%             | 2031-03-07      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Peru (Republic Of)                                                                  | PERU 3.23 07/28/21                                     | CUSIP: 715638DR0<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     50000 | PA      | $26705.77     | 0.01%             | 2121-07-28      | Fixed         | 3.23%                 | No            |                  2 | On Loan: No      |
| Comcast Corporation                                                                 | CMCSA 3.75 04/01/40                                    | CUSIP: 20030NDH1<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     25000 | PA      | $20248.80     | 0.01%             | 2040-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 2.75 08/15/42                                        | CUSIP: 912810QX9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1550000 | PA      | $1184539.06   | 0.54%             | 2042-08-15      | Fixed         | 2.75%                 | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                                                                  | META 4.2 11/15/30                                      | CUSIP: 30303MAB8<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    400000 | PA      | $395874.23    | 0.18%             | 2030-11-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA5597                                              | CUSIP: 36179UGE6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    220021 | PA      | $222070.13    | 0.10%             | 2048-11-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST 2024-VIS2                                                | JPMMT 2024-VIS2 A1                                     | CUSIP: 46658DAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    595664 | PA      | $599184.82    | 0.27%             | 2064-11-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                                           | RTX 4.125 11/16/28                                     | CUSIP: 913017CY3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49802.81     | 0.02%             | 2028-11-16      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER) | AER 5.375 12/15/31                                     | CUSIP: 00774MBP9<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |    320000 | PA      | $325054.59    | 0.15%             | 2031-12-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Rogers Communications Inc.                                                          | RCICN 3.2 03/15/27                                     | CUSIP: 775109CG4<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    505000 | PA      | $498819.29    | 0.23%             | 2027-03-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 6.9 11/09/52                                      | CUSIP: 68389XCK9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    125000 | PA      | $118119.18    | 0.05%             | 2052-11-09      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| BEST INVESTMENT COMPANY INC                                                         | BSP 2020-20A ARR                                       | CUSIP: 08182FAY5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    330000 | PA      | $329993.07    | 0.15%             | 2037-07-15      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                          | BA 5.15 05/01/30                                       | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    176000 | PA      | $178688.50    | 0.08%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Security Stripped Interest Security                                   | S 0 08/15/30                                           | CUSIP: 912833XY1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    430000 | PA      | $361880.41    | 0.16%             | 2030-08-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| Agco Corporation                                                                    | AGCO 5.8 03/21/34                                      | CUSIP: 001084AS1<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | DBT              | CORP              | US        |    112000 | PA      | $114501.12    | 0.05%             | 2034-03-21      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                                                  | META 4.875 11/15/35                                    | CUSIP: 30303MAD4<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    800000 | PA      | $784646.72    | 0.35%             | 2035-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange Inc                                                       | ICE 3.625 09/01/28                                     | CUSIP: 45866FBB9<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73883.07     | 0.03%             | 2028-09-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| BANK5 2025-5YR17                                                                    | BANK5 2025-5YR17 A3                                    | CUSIP: 06211GAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    450000 | PA      | $457370.24    | 0.21%             | 2058-11-18      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | MS V1.794 02/13/32 MTN                                 | CUSIP: 6174468U6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     75000 | PA      | $64975.51     | 0.03%             | 2032-02-13      | Fixed         | 1.79%                 | No            |                  2 | On Loan: No      |
| Hudson Yards 2025-Sprl Mortgage Trust                                               | HY 2025-SPRL B                                         | CUSIP: 44855PAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $102263.34    | 0.05%             | 2040-01-13      | Variable      | 5.76%                 | No            |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST 2021-7                                                   | VERUS 2021-7 A1                                        | CUSIP: 92538QAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    502809 | PA      | $463303.95    | 0.21%             | 2066-10-25      | Variable      | 2.83%                 | No            |                  2 | On Loan: No      |
| The Sherwin-Williams Company                                                        | SHW 2.95 08/15/29                                      | CUSIP: 824348BJ4<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47663.24     | 0.02%             | 2029-08-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AT2009                                              | CUSIP: 3138WPGT5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7248 | PA      | $6686.96      | 0.00%             | 2043-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                            | HCA 4.5 02/15/27                                       | CUSIP: 404119BU2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    425000 | PA      | $425070.63    | 0.19%             | 2027-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                        | AVGO 3.5 02/15/41                                      | CUSIP: 11135FCV1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    100000 | PA      | $79912.79     | 0.04%             | 2041-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Panama (Republic of)                                                                | PANAMA 6.875 01/31/36                                  | CUSIP: 698299BW3<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    200000 | PA      | $212532.98    | 0.10%             | 2036-01-31      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Bacardi Martini B V                                                                 | BACARD 5.55 02/01/30 144a                              | CUSIP: 05634WAA0<br>LEI: 5493002XXBV8B88K2408 | Long             | DBT              | CORP              | NL        |    450000 | PA      | $459250.79    | 0.21%             | 2030-02-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| CIFC FUNDING 2025-II LTD                                                            | CIFC 2025-2A A                                         | CUSIP: 17181DAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    575000 | PA      | $573277.88    | 0.26%             | 2038-04-15      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| Workday Inc                                                                         | WDAY 3.5 04/01/27                                      | CUSIP: 98138HAG6<br>LEI: 549300J0DYC0N31V7G13 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74331.79     | 0.03%             | 2027-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CA1368                                              | CUSIP: 3140Q8QW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    120603 | PA      | $115445.85    | 0.05%             | 2048-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| American Homes 4 Rent L P                                                           | AMH 2.375 07/15/31                                     | CUSIP: 02666TAC1<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |     30000 | PA      | $26414.59     | 0.01%             | 2031-07-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                                            | CURRENCY CONTRACT - SEK                                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-6994.98     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNMA-30YR                                              | CUSIP: 01F062648<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |  -1000000 | PA      | $-1034218.80  | -0.47%            | 2056-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                                                                       | CA CAS 7.62 03/01/2040                                 | CUSIP: 13063BFR8<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    105000 | PA      | $124955.31    | 0.06%             | 2040-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| WONDER LAKE PARK CLO LTD                                                            | WONPK 2025-1A A                                        | CUSIP: 97816WAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    525000 | PA      | $525225.23    | 0.24%             | 2038-07-26      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG G05250                                              | CUSIP: 3128M7EX0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       278 | PA      | $283.10       | 0.00%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA, NATIONAL ASSOCIATION                                               | SWOP IRS EUR                                           | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              | CORP              | US        |   -100000 | NC      | $-50.38       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                       | F 5.85 05/17/27                                        | CUSIP: 345397E74<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    215000 | PA      | $216578.78    | 0.10%             | 2027-05-17      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Carrier Global Corporation                                                          | CARR 2.7 02/15/31                                      | CUSIP: 14448CAL8<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |    200000 | PA      | $183500.98    | 0.08%             | 2031-02-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                                                               | LOW 1.7 09/15/28                                       | CUSIP: 548661ED5<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70485.21     | 0.03%             | 2028-09-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 3.625 03/31/30                                       | CUSIP: 91282CGS4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    364900 | PA      | $361165.47    | 0.16%             | 2030-03-31      | Fixed         | 3.62%                 | No            |                  1 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS JPY                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $24460.49     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Host Hotels & Resorts, L.P.                                                         | HST 2.9 12/15/31 J                                     | CUSIP: 44107TBA3<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              | CORP              | US        |     42000 | PA      | $37350.85     | 0.02%             | 2031-12-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | MS V5.664 04/17/36                                     | CUSIP: 61747YGA7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    155000 | PA      | $158667.01    | 0.07%             | 2036-04-17      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FN AB9174                                              | CUSIP: 31417GFQ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     28706 | PA      | $26486.52     | 0.01%             | 2043-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 788438                                              | CUSIP: 3622AEHP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    985801 | PA      | $983584.14    | 0.44%             | 2056-02-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Steris Irish Finco Unlimited Company                                                | STE 2.7 03/15/31                                       | CUSIP: 85917PAA5<br>LEI: 549300BRDKZ1HFI2J358 | Long             | DBT              | CORP              | IE        |     75000 | PA      | $68064.65     | 0.03%             | 2031-03-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corp.                                                   | BK V4.596 07/26/30                                     | CUSIP: 06406RBK2<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20100.44     | 0.01%             | 2030-07-26      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                              | FHMS K510 A2                                           | CUSIP: 3137HB3D4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    100000 | PA      | $101941.23    | 0.05%             | 2028-10-25      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| B.A.T. Capital Corporation                                                          | BATSLN 2.259 03/25/28                                  | CUSIP: 05526DBR5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96027.42     | 0.04%             | 2028-03-25      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| Principal Financial Group Inc.                                                      | PFG 2.125 06/15/30                                     | CUSIP: 74251VAS1<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | DBT              | CORP              | US        |     75000 | PA      | $67767.62     | 0.03%             | 2030-06-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Solventum Corp.                                                                     | SOLV 5.4 03/01/29                                      | CUSIP: 83444MAP6<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    113000 | PA      | $115682.43    | 0.05%             | 2029-03-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                                                       | GOOGL 4.1 11/15/30                                     | CUSIP: 02079KAW7<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    950000 | PA      | $943216.98    | 0.43%             | 2030-11-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 3.875 03/31/31                                       | CUSIP: 91282CQG9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1150000 | PA      | $1146316.40   | 0.52%             | 2031-03-31      | Fixed         | 3.88%                 | No            |                  1 | On Loan: No      |
| Mexico (United Mexican States)                                                      | MEX 3.25 04/16/30                                      | CUSIP: 91087BAH3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    400000 | PA      | $374120.00    | 0.17%             | 2030-04-16      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc.                                                                     | CRM 5.55 03/15/36                                      | CUSIP: 79466LAU8<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |    813000 | PA      | $810540.07    | 0.37%             | 2036-03-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| COUSINS PROPERTIES INC                                                              | CUZ 5.875 10/01/34                                     | CUSIP: 222793AA9<br>LEI: 5493007XPYD5EJABN062 | Long             | DBT              | CORP              | US        |    675000 | PA      | $684606.83    | 0.31%             | 2034-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CB1805                                              | CUSIP: 3140QMAF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    304639 | PA      | $261286.83    | 0.12%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal Farm Credit Banks                                                           | FFCB 2.85 03/28/34                                     | CUSIP: 3133ENSY7<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGSE             | US        |    600000 | PA      | $539050.12    | 0.24%             | 2034-03-28      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST 2023-HE3                                                 | JPMMT 2023-HE3 A1                                      | CUSIP: 465985AA7<br>LEI: 5299007DSRZLE19EYU93 | Long             | ABS-O            | CORP              | US        |     51846 | PA      | $51928.23     | 0.02%             | 2054-05-20      | Variable      | 5.26%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                      | C V6.27 11/17/33                                       | CUSIP: 172967PA3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    400000 | PA      | $427461.60    | 0.19%             | 2033-11-17      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                         | 10-Year T-Note Futures, Jun-2026,ETH                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -42 | NC      | $14591.40     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA5530                                              | CUSIP: 36179UEB4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     80302 | PA      | $81049.53     | 0.04%             | 2048-10-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper Inc                                                                | KDP 4.597 05/25/28                                     | CUSIP: 49271VAF7<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    225000 | PA      | $224979.86    | 0.10%             | 2028-05-25      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                   | WFC 4.3 07/22/27 GMTN                                  | CUSIP: 94974BGL8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49918.53     | 0.02%             | 2027-07-22      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Hyatt Hotels Corporation                                                            | H 5.5 06/30/34                                         | CUSIP: 448579AS1<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    365000 | PA      | $368671.17    | 0.17%             | 2034-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA1225                                              | CUSIP: 36179NLE6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    124566 | PA      | $120003.36    | 0.05%             | 2043-08-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Waste Management, Inc.                                                              | WM 3.15 11/15/27                                       | CUSIP: 94106LBE8<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73889.53     | 0.03%             | 2027-11-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | CAS 2022-R05 2M2                                       | CUSIP: 20754DAB3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     36000 | PA      | $36448.90     | 0.02%             | 2042-04-25      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| AUTONATION INC                                                                      | AN 1.95 08/01/28                                       | CUSIP: 05329WAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $23544.13     | 0.01%             | 2028-08-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| BMO 2023-C7 MORTGAGE TRUST                                                          | BMO 2023-C7 A5                                         | CUSIP: 05593FAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $211938.78    | 0.10%             | 2056-12-15      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| O'Reilly Automotive Inc.                                                            | ORLY 5.1 03/12/36                                      | CUSIP: 67103HAP2<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    145000 | PA      | $143153.25    | 0.06%             | 2036-03-12      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                         | 5-Year T-Note Futures, Jun-2026,ETH                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       137 | NC      | $-129190.23   | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes                                                        | T 4.625 04/30/29                                       | CUSIP: 91282CKP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7390000 | PA      | $7557429.69   | 3.42%             | 2029-04-30      | Fixed         | 4.62%                 | No            |                  1 | On Loan: No      |
| FORD CREDIT AUTO OWNER TRUST 2024-REV1                                              | FORDR 2024-1 A                                         | CUSIP: 34533BAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $355657.23    | 0.16%             | 2036-08-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                  | TMUS 5.2 01/15/33                                      | CUSIP: 87264ACV5<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    500000 | PA      | $508574.32    | 0.23%             | 2033-01-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | MS V5.164 04/20/29 MTN                                 | CUSIP: 61747YFD2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    305000 | PA      | $308506.73    | 0.14%             | 2029-04-20      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Fidelity National Information Services Inc                                          | FIS 4.8 03/10/31                                       | CUSIP: 31620MCE4<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | DBT              | CORP              | US        |    400000 | PA      | $396724.45    | 0.18%             | 2031-03-10      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 4 11/15/42                                           | CUSIP: 912810TM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    450000 | PA      | $407250.00    | 0.18%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  1 | On Loan: No      |
| AT&T Inc                                                                            | T 4.35 06/15/45                                        | CUSIP: 00206RBK7<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     25000 | PA      | $20150.91     | 0.01%             | 2045-06-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                                        | BACR V5.785 02/25/36                                   | CUSIP: 06738ECZ6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    340000 | PA      | $344280.72    | 0.16%             | 2036-02-25      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Intuit Inc                                                                          | INTU 1.35 07/15/27                                     | CUSIP: 46124HAC0<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24115.47     | 0.01%             | 2027-07-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 2.375 05/15/51                                       | CUSIP: 912810SX7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    480000 | PA      | $300225.00    | 0.14%             | 2051-05-15      | Fixed         | 2.38%                 | No            |                  1 | On Loan: No      |
| Saudi Arabian Oil Company                                                           | ARAMCO 3.5 04/16/29 REGS                               | CUSIP: 000000000<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    220000 | PA      | $211245.21    | 0.10%             | 2029-04-16      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CB6080                                              | CUSIP: 3140QRXJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    729678 | PA      | $742163.92    | 0.34%             | 2053-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CA7531                                              | CUSIP: 3140QFLM9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    371080 | PA      | $332626.22    | 0.15%             | 2050-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                  | TMUS 3.75 04/15/27                                     | CUSIP: 87264ABD6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    391000 | PA      | $388634.91    | 0.18%             | 2027-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BMO 2024-C9 MORTGAGE TRUST                                                          | BMO 2024-C9 A5                                         | CUSIP: 05593MAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $363738.80    | 0.16%             | 2057-07-17      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNR 2025-11 FB                                         | CUSIP: 3136BUZ45<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    372132 | PA      | $374220.64    | 0.17%             | 2055-03-25      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| Realty Income Corporation                                                           | O 3.95 08/15/27                                        | CUSIP: 756109BG8<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24869.94     | 0.01%             | 2027-08-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                         | Ultra U.S. Treasury Bond Futures, Jun-2026,ETH         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       104 | NC      | $-371356.20   | -0.17%            |  |  |  | No            |                  1 | On Loan: No      |
| Takeoff Merger Subordinated Inc.                                                    | SUMIAL 4.85 03/24/31 144A                              | CUSIP: 873923AE6<br>LEI: 984500DF5ACB4A114F45 | Long             | DBT              | CORP              | US        |    400000 | PA      | $395213.47    | 0.18%             | 2031-03-24      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 0.75 08/31/26                                        | CUSIP: 91282CCW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    640000 | PA      | $632075.00    | 0.29%             | 2026-08-31      | Fixed         | 0.75%                 | No            |                  1 | On Loan: No      |
| Boeing Co.                                                                          | BA 2.95 02/01/30                                       | CUSIP: 097023CN3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |      2000 | PA      | $1881.27      | 0.00%             | 2030-02-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Otis Worldwide Corp.                                                                | OTIS 2.565 02/15/30                                    | CUSIP: 68902VAK3<br>LEI: 549300ZLBKR8VSU25153 | Long             | DBT              | CORP              | US        |    150000 | PA      | $139237.40    | 0.06%             | 2030-02-15      | Fixed         | 2.56%                 | No            |                  2 | On Loan: No      |
| TEXAS DEBT CAPITAL CLO 2025-1 LTD                                                   | TCIFC 2025-1A A1                                       | CUSIP: 881936AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   1050000 | PA      | $1046213.70   | 0.47%             | 2038-04-24      | Variable      | 4.81%                 | No            |                  2 | On Loan: No      |
| The Sherwin-Williams Company                                                        | SHW 3.45 06/01/27                                      | CUSIP: 824348AW6<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24743.02     | 0.01%             | 2027-06-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CB2045                                              | CUSIP: 3140QMHX5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    179299 | PA      | $153728.48    | 0.07%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FN AB9344                                              | CUSIP: 31417GL20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     31888 | PA      | $29422.82     | 0.01%             | 2043-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                                   | CDS CDX.NA.IG.45.V1                                    | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $342180.53    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| U.S. Treasury Security Stripped Interest Security                                   | S 0 05/15/32                                           | CUSIP: 9128337R5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    929900 | PA      | $724421.41    | 0.33%             | 2032-05-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| MSWF COMMERCIAL MORTGAGE TRUST 2023-2                                               | MSWF 2023-2 A2                                         | CUSIP: 55361AAR5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    259074 | PA      | $269189.18    | 0.12%             | 2056-12-15      | Fixed         | 6.89%                 | No            |                  2 | On Loan: No      |
| JDE Peets N.V                                                                       | JDEPNA 1.375 01/15/27 144A                             | CUSIP: 47216QAB9<br>LEI: 724500EHG519SE5ZRT89 | Long             | DBT              | CORP              | NL        |    150000 | PA      | $146150.51    | 0.07%             | 2027-01-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Synchrony Financial                                                                 | SYF V4.947 02/25/32                                    | CUSIP: 87165BAZ6<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    310000 | PA      | $300979.71    | 0.14%             | 2032-02-25      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNMA-30YR                                              | CUSIP: 01F022642<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6000000 | PA      | $5046396.00   | 2.28%             | 2056-04-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Exelon Corp.                                                                        | EXC 4.05 04/15/30                                      | CUSIP: 30161NAX9<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48998.56     | 0.02%             | 2030-04-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 6.25 11/09/32                                     | CUSIP: 68389XCJ2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    250000 | PA      | $256520.51    | 0.12%             | 2032-11-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS USD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $10239.98     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | TII 1.5 02/15/53                                       | CUSIP: 912810TP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    600000 | PA      | $502499.36    | 0.23%             | 2053-02-15      | Fixed         | 1.50%                 | No            |                  1 | On Loan: No      |
| Marriott International, Inc.                                                        | MAR 5 10/15/27                                         | CUSIP: 571903BJ1<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126141.23    | 0.06%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mars Inc.                                                                           | MARS 5 03/01/32 144A                                   | CUSIP: 571676AZ8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    375000 | PA      | $379407.27    | 0.17%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Power & Light Co.                                                           | NEE 4.125 02/01/42                                     | CUSIP: 341081FF9<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |     68000 | PA      | $57660.22     | 0.03%             | 2042-02-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Alcon Finance Corp                                                                  | ALCSW 3 09/23/29 144A                                  | CUSIP: 01400EAB9<br>LEI: 549300CUZUI9VU7XNK42 | Long             | DBT              | CORP              | US        |    413000 | PA      | $392344.47    | 0.18%             | 2029-09-23      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | MS V4.889 07/20/33                                     | CUSIP: 61747YEU5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    165000 | PA      | $164084.17    | 0.07%             | 2033-07-20      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT                                                               | AMH 4.9 02/15/29                                       | CUSIP: 02666TAB3<br>LEI: 549300ZJUO7A58PNUW40 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50291.99     | 0.02%             | 2029-02-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                                             | HYNMTR 5.4 06/24/31 144A                               | CUSIP: 44891ADD6<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    160000 | PA      | $162941.71    | 0.07%             | 2031-06-24      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| The J M Smucker Company                                                             | SJM 6.2 11/15/33                                       | CUSIP: 832696AX6<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |    113000 | PA      | $119664.71    | 0.05%             | 2033-11-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Intel Corporation                                                                   | INTC 5.15 02/21/34                                     | CUSIP: 458140CL2<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64815.35     | 0.03%             | 2034-02-21      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| UDR Inc                                                                             | UDR 2.1 08/01/32 MTN                                   | CUSIP: 90265EAT7<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              | CORP              | US        |     25000 | PA      | $21150.73     | 0.01%             | 2032-08-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                                                  | CM V5.245 01/13/31                                     | CUSIP: 13607PVQ4<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    285000 | PA      | $291086.10    | 0.13%             | 2031-01-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                                        | AVOL 5.15 01/15/30 144A                                | CUSIP: 05401AAX9<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |     60000 | PA      | $60301.19     | 0.03%             | 2030-01-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co LP / PTL Finance Corp.                                      | PENSKE 5.25 07/01/29 144A                              | CUSIP: 709599CA0<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | DBT              | CORP              | US        |    120000 | PA      | $121675.77    | 0.06%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                                            | CURRENCY CONTRACT - USD                                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $7062.36      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 785730                                              | CUSIP: 3622ABHF2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    788607 | PA      | $701278.50    | 0.32%             | 2051-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS USD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $7240.86      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2-30YR-Multi                                          | CUSIP: 21H060648<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1000000 | PA      | $1016484.40   | 0.46%             | 2056-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                                         | IL ILS 7.35 07/01/2035                                 | CUSIP: 452152GS4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |     71429 | PA      | $76796.67     | 0.03%             | 2035-07-01      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 3 08/15/48                                           | CUSIP: 912810SD1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    480000 | PA      | $352200.00    | 0.16%             | 2048-08-15      | Fixed         | 3.00%                 | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                                            | GN 433774                                              | CUSIP: 36207J2F9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |        27 | PA      | $26.88        | 0.00%             | 2028-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Pfizer Inc.                                                                         | PFE 3.45 03/15/29                                      | CUSIP: 717081ET6<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73696.06     | 0.03%             | 2029-03-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | GN 460837                                              | CUSIP: 36208T4W7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       569 | PA      | $573.29       | 0.00%             | 2028-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                         | U.S. Treasury Bond Futures, Jun-2026,ETH               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        50 | NC      | $-86507.13    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services, Inc.                                                             | RSG 1.75 02/15/32                                      | CUSIP: 760759AZ3<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $85608.18     | 0.04%             | 2032-02-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| BANK 2022-BNK43                                                                     | BANK 2022-BNK43 A5                                     | CUSIP: 06541QAZ8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $194221.51    | 0.09%             | 2055-08-17      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG G01840                                              | CUSIP: 3128LXBH2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       844 | PA      | $859.82       | 0.00%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS USD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $46447.97     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc                                                        | TMO 1.75 10/15/28                                      | CUSIP: 883556CK6<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23535.07     | 0.01%             | 2028-10-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2025-DSC1                                                  | JPMMT 2025-DSC1 A1                                     | CUSIP: 46593TAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    403019 | PA      | $404809.13    | 0.18%             | 2065-09-25      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | GN 471968                                              | CUSIP: 36209HJM8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       118 | PA      | $118.01       | 0.00%             | 2028-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST 2025-DNA2                                             | STACR 2025-DNA2 A1                                     | CUSIP: 35564NHY2<br>LEI: 529900XX8WXEM4FBIH80 | Long             | ABS-O            | USGSE             | US        |    218750 | PA      | $218749.30    | 0.10%             | 2045-05-25      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Federal Farm Credit Banks                                                           | FFCB 3.5 09/01/32                                      | CUSIP: 3133ENJ92<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGSE             | US        |    130000 | PA      | $125328.33    | 0.06%             | 2032-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LOUISIANA LOC GOVT ENVIRONMENTAL FACS & CMNTY DEV AUTH                              | LA LASGOV 4.28 02/01/2036                              | CUSIP: 54627RAN0<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    140000 | PA      | $137538.37    | 0.06%             | 2036-02-01      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| NiSource Inc.                                                                       | NI 3.6 05/01/30                                        | CUSIP: 65473PAJ4<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24106.00     | 0.01%             | 2030-05-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Company                                                    | PCG 3.3 08/01/40                                       | CUSIP: 694308JH1<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     25000 | PA      | $18703.90     | 0.01%             | 2040-08-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPM 3.625 12/01/27                                     | CUSIP: 46625HRX0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14822.93     | 0.01%             | 2027-12-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Solventum Corp.                                                                     | SOLV 5.6 03/23/34                                      | CUSIP: 83444MAR2<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    140000 | PA      | $143110.96    | 0.06%             | 2034-03-23      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| J P MORGAN MTG TR 2025-NQM1                                                         | JPMMT 2025-NQM5 A1A                                    | CUSIP: 46664DAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    549986 | PA      | $547612.16    | 0.25%             | 2066-05-25      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| CFIP CLO 2021-1 LTD                                                                 | CFIP 2021-1A A                                         | CUSIP: 12529QAC3<br>LEI: 549300NTT3VNL25G1526 | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $699074.60    | 0.32%             | 2035-01-22      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| CBAM 2018-5 LTD                                                                     | CBAMR 2018-5A A1R                                      | CUSIP: 12516LAC9<br>LEI: 25490038OT2B8HTRW786 | Long             | ABS-CBDO         | CORP              | KY        |    975000 | PA      | $975223.28    | 0.44%             | 2038-10-18      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS AUD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-20763.62    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                                                                 | D 3.375 04/01/30 C                                     | CUSIP: 25746UDG1<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23893.34     | 0.01%             | 2030-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| W. P. Carey Inc                                                                     | WPC 2.4 02/01/31                                       | CUSIP: 92936UAG4<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22364.70     | 0.01%             | 2031-02-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)                                                      | MEX 1.45 10/25/33                                      | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    110000 | PA      | $100634.16    | 0.05%             | 2033-10-25      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| CEDAR FUNDING IX CLO LTD                                                            | CEDF 2018-9A AR                                        | CUSIP: 15033EAN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    270000 | PA      | $270112.05    | 0.12%             | 2037-07-20      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| Waste Management, Inc.                                                              | WM 1.15 03/15/28                                       | CUSIP: 94106LBN8<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47199.69     | 0.02%             | 2028-03-15      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| Archer-Daniels-Midland Co.                                                          | ADM 2.9 03/01/32                                       | CUSIP: 039482AD6<br>LEI: 549300LO13MQ9HYSTR83 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91168.91     | 0.04%             | 2032-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Poland (Republic of)                                                                | POLAND 5.125 09/18/34 10Y                              | CUSIP: 731011AY8<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |    120000 | PA      | $120506.95    | 0.05%             | 2034-09-18      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 3.875 05/15/43                                       | CUSIP: 912810TS7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    560000 | PA      | $496475.00    | 0.22%             | 2043-05-15      | Fixed         | 3.88%                 | No            |                  1 | On Loan: No      |
| TRINITAS CLO XXXI LTD/LLC                                                           | TRNTS 2024-31A A1                                      | CUSIP: 895972AA5<br>LEI: 254900Z3YHI8W31ZWI81 | Long             | ABS-CBDO         | CORP              | KY        |    575000 | PA      | $573114.00    | 0.26%             | 2038-01-22      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS USD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $6341.50      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp                                                                | LVS 6 06/14/30                                         | CUSIP: 517834AN7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41145.83     | 0.02%             | 2030-06-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Applovin Corp.                                                                      | APP 5.5 12/01/34                                       | CUSIP: 03831WAD0<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |    551000 | PA      | $546456.12    | 0.25%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD7571                                              | CUSIP: 3132DVMU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    758348 | PA      | $798094.74    | 0.36%             | 2054-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| The Cigna Group                                                                     | CI 2.4 03/15/30                                        | CUSIP: 125523CL2<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |     34000 | PA      | $31412.32     | 0.01%             | 2030-03-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2-30YR-Multi                                          | CUSIP: 21H042638<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1000000 | PA      | $965709.00    | 0.44%             | 2056-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Paypal Holdings Inc.                                                                | PYPL 2.65 10/01/26                                     | CUSIP: 70450YAD5<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74412.52     | 0.03%             | 2026-10-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| AB BSL CLO 7 LTD                                                                    | ABBSL 2025-7A A1                                       | CUSIP: 00039FAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | PA      | $1098884.60   | 0.50%             | 2039-01-18      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Security Stripped Interest Security                                   | S 0 08/15/31                                           | CUSIP: 9128334S6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    720000 | PA      | $580386.84    | 0.26%             | 2031-08-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                                            | G2-30YR-Multi                                          | CUSIP: 21H042620<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1000000 | PA      | $989106.00    | 0.45%             | 2056-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                            | T 5.15 11/15/46 *                                      | CUSIP: 00206RHA3<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22293.99     | 0.01%             | 2046-11-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| American Express Company                                                            | AXP V5.284 07/26/35                                    | CUSIP: 025816DW6<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    425000 | PA      | $428730.97    | 0.19%             | 2035-07-26      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRUST 2024-OMNI                      | JPMCC 2024-OMNI A                                      | CUSIP: 46593JAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $151300.80    | 0.07%             | 2039-10-07      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| Expedia Group Inc                                                                   | EXPE 3.8 02/15/28                                      | CUSIP: 30212PAP0<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34536.29     | 0.02%             | 2028-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                                                             | UNH 5 04/15/34                                         | CUSIP: 91324PFB3<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    275000 | PA      | $275046.19    | 0.12%             | 2034-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                                            | CURRENCY CONTRACT - USD                                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $2476.79      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DIAMETER CAPITAL CLO 10 LTD                                                         | DCLO 2025-10A A                                        | CUSIP: 25290BAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    620000 | PA      | $620921.94    | 0.28%             | 2038-04-20      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| Adventist Health Systems (West)                                                     | ADVENT 5.757 12/01/34                                  | CUSIP: 007944AK7<br>LEI: 5493008YM33UCY5QPW83 | Long             | DBT              | CORP              | US        |     95000 | PA      | $97738.15     | 0.04%             | 2034-12-01      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FN MA4158                                              | CUSIP: 31418DTQ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1641733 | PA      | $1336517.92   | 0.60%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| EXETER AUTOMOBILE RECEIVABLES TRUST 2025-3                                          | EART 2025-3A A3                                        | CUSIP: 30166XAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $351229.45    | 0.16%             | 2029-07-16      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS GBP                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $465.31       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                                     | CDS REPUBLIC OF CHILE                                  | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $1774.23      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                                                               | LOW 3 10/15/50                                         | CUSIP: 548661DZ7<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     25000 | PA      | $15418.43     | 0.01%             | 2050-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Company Inc                                                | GM 5.95 04/04/34                                       | CUSIP: 37045XEV4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    550000 | PA      | $564472.44    | 0.26%             | 2034-04-04      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA6544                                              | CUSIP: 36179VHV5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    153792 | PA      | $151095.63    | 0.07%             | 2050-03-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST 2024-DNA2                                             | STACR 2024-DNA2 M1                                     | CUSIP: 35564NCX9<br>LEI: 529900GRKKKHILZX4347 | Long             | ABS-O            | USGSE             | US        |    220555 | PA      | $220446.74    | 0.10%             | 2044-05-25      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| Federal Farm Credit Banks                                                           | FFCB 3.08 03/30/37                                     | CUSIP: 3133ENTJ9<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGSE             | US        |    340000 | PA      | $295023.99    | 0.13%             | 2037-03-30      | Fixed         | 3.08%                 | No            |                  2 | On Loan: No      |
| American International Group Inc.                                                   | AIG 3.4 06/30/30                                       | CUSIP: 026874DR5<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23847.71     | 0.01%             | 2030-06-30      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                               | ROMANI 3 02/27/27 144A                                 | CUSIP: 77586RAK6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     40000 | PA      | $39178.77     | 0.02%             | 2027-02-27      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                                        | AVOL 6.375 05/04/28 144A                               | CUSIP: 05401AAS0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |     90000 | PA      | $92692.93     | 0.04%             | 2028-05-04      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Comcast Corporation                                                                 | CMCSA 3.3 04/01/27                                     | CUSIP: 20030NDK4<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74241.81     | 0.03%             | 2027-04-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 3.125 11/15/28                                       | CUSIP: 9128285M8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $245664.06    | 0.11%             | 2028-11-15      | Fixed         | 3.12%                 | No            |                  1 | On Loan: No      |
| Truist Financial Corp.                                                              | TFC V6.047 06/08/27 MTN                                | CUSIP: 89788MAN2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50127.99     | 0.02%             | 2027-06-08      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPM V3.509 01/23/29                                    | CUSIP: 46647PAM8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44273.24     | 0.02%             | 2029-01-23      | Fixed         | 3.51%                 | No            |                  2 | On Loan: No      |
| Prologis, L.P.                                                                      | PLD 1.75 07/01/30                                      | CUSIP: 74340XBZ3<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22313.87     | 0.01%             | 2030-07-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CC1438                                              | CUSIP: 3140Y7S41<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2962351 | PA      | $2994168.41   | 1.35%             | 2055-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Constellation Brands, Inc.                                                          | STZ 2.25 08/01/31                                      | CUSIP: 21036PBH0<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    100000 | PA      | $88198.73     | 0.04%             | 2031-08-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                           | IRS CAD                                                | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $737.24       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 5.25 02/03/32                                     | CUSIP: 68389XCZ6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    256000 | PA      | $251683.61    | 0.11%             | 2032-02-03      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA8347                                              | CUSIP: 36179XHY5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    748944 | PA      | $728450.67    | 0.33%             | 2052-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 2.95 04/01/30                                     | CUSIP: 68389XBV6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     34000 | PA      | $31017.39     | 0.01%             | 2030-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG Q01536                                              | CUSIP: 3132GEV56<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       760 | PA      | $773.01       | 0.00%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | GN 465920                                              | CUSIP: 36209ASH4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       984 | PA      | $987.26       | 0.00%             | 2028-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                            | HCA 3.5 09/01/30                                       | CUSIP: 404119CA5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     80000 | PA      | $75964.74     | 0.03%             | 2030-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CommonSpirit Health                                                                 | CATMED 4.975 09/01/35 2025                             | CUSIP: 20268JBD4<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |    310000 | PA      | $302670.13    | 0.14%             | 2035-09-01      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| BBCMS MORTGAGE TRUST 2024-5C25                                                      | BBCMS 2024-5C25 AS                                     | CUSIP: 05554VAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    210000 | PA      | $218809.19    | 0.10%             | 2057-03-16      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V2.592 04/29/31                                    | CUSIP: 06051GJB6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    175000 | PA      | $161665.41    | 0.07%             | 2031-04-29      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V1.898 07/23/31 MTN                                | CUSIP: 06051GJF7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44558.33     | 0.02%             | 2031-07-23      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Sound Point Euro Clo 14 Funding Designated Activity Co.                             | SNDPE 14A B                                            | CUSIP: 000000000<br>LEI: 635400MRPPDDKPZD8B91 | Long             | ABS-O            | CORP              | IE        |    250000 | PA      | $285174.13    | 0.13%             | 2039-04-20      | Floating      | 3.63%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FR ZT1818                                              | CUSIP: 3132AEAT3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4547 | PA      | $4440.27      | 0.00%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-29

**Name of Applicant:** Goldman Sachs Variable Insurance Trust

**Signature:** Allison Frachiolla

**Name of Signer:** Allison Frachiolla

**Title:** Vice President Assistant Treasurer