# EDGAR Filing Document

**Accession Number:** 0001969674
**File Stem:** 0000940400-26-022026
**Filing Date:** 2026-5
**Character Count:** 182901
**Document Hash:** f483255805f6e54675e16467f33e7e17
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-022026.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000940400-26-022026

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** 2023 ETF Series Trust
- **CENTRAL INDEX KEY:** 0001969674

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23883
- **FILM NUMBER:** 261036697

**BUSINESS ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET
- **STREET 2:** SUITE 700
- **CITY:** MILWAUKEE
- **STATE:** WI
- **BUSINESS PHONE:** (833) 782-2211

**MAIL ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET
- **STREET 2:** SUITE 700
- **CITY:** MILWAUKEE
- **STATE:** WI

## Series and Classes Contracts Data

### Transamerica Bond Active ETF (Series ID: S000097851)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000267356 | Transamerica Bond Active ETF |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** 2023 ETF Series Trust

- **b. Investment Company Act file number:** 811-23883

- **c. CIK number of Registrant:** 0001969674

- **d. LEI of Registrant:** 5493000L2E3DBUPMOK03

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

  - **Street Address 1:** 234 W. Florida Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53204

  - **Telephone number:** (833)782-2211

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

- **a. Name of Series:** Transamerica Bond Active ETF

- **b. EDGAR series identifier (if any):** S000097851

- **c. LEI of Series:** 254900O4S4CLLV4FQ376

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

- **a. Date of fiscal year-end:** 2026-09-30

- **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:** $158304813.05

**Total Liabilities:** $10254956.88

**Net Assets:** $148049856.17

**Delayed Delivery Securities:** $330000.00

**Stand-by Commitments:** $8593605.86

**Cash Not Reported:** $6091104.31

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -178.35079260 | **1-Year:** -3848.08717200 | **5-Year:** -14497.81000000 | **10-Year:** -17589.41000000 | **30-Year:** -3212.22565500

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

- **3-Month:** -45.22545030 | **1-Year:** -1574.00901800 | **5-Year:** -5499.94522400 | **10-Year:** -2158.99216600 | **30-Year:** -303.37312650

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000267356 | 0.29%                | 1.59%                | -1.91%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3446.39                | $-14318.57                                 |
| Month 2  | $4468.84                 | $480304.92                                 |
| Month 3  | $-101134.01              | $-1202934.03                               |

**Designated Index Information**

- **Index Name:** Securities Portfolio VaR

- **Index Identifier:** Designated Reference Portfolio is the Fund's Securities Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Petroleos Mexicanos Sa De CV                                                                     | PEMEX 6.84 01/23/30                                 | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    279000 | PA      | $279790.41    | 0.19%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| Cencora Inc                                                                                      | COR 4.9 02/13/36                                    | CUSIP: 03073EBE4<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |    142000 | PA      | $139177.36    | 0.09%             | 2036-02-13      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Eaton Corp.                                                                                      | ETN 4.8 03/06/36                                    | CUSIP: 278058DZ2<br>LEI: 0NZWDMRCE180888QQE14 | Long             | DBT              | CORP              | US        |    600000 | PA      | $592606.88    | 0.40%             | 2036-03-06      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 4.125 07/31/31                                    | CUSIP: 91282CLD1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    138000 | PA      | $138911.02    | 0.09%             | 2031-07-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Dell International LLC / EMC Corp.                                                               | DELL 4.85 02/01/35                                  | CUSIP: 24703DBQ3<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    274000 | PA      | $265230.72    | 0.18%             | 2035-02-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Mexico Remittances Funding Fiduciary Estate Management                                           | EKT 12.5 10/15/31 144A                              | CUSIP: 593035AB4<br>LEI: 54930007WQ6S3GFCM563 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $211200.00    | 0.14%             | 2031-10-15      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| Century Communities Inc                                                                          | CCS 6.625 09/15/33 144A                             | CUSIP: 156504AN2<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |    275000 | PA      | $269753.22    | 0.18%             | 2033-09-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 4.125 11/15/32                                    | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    951000 | PA      | $951520.08    | 0.64%             | 2032-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                                  | TDG 6.125 07/31/34 144A                             | CUSIP: 893647CB1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    308000 | PA      | $303316.06    | 0.20%             | 2034-07-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Sabine Pass Liquefaction, LLC                                                                    | SPLLLC 5.9 09/15/37                                 | CUSIP: 785592AZ9<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |    154811 | PA      | $161792.19    | 0.11%             | 2037-09-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Builders Firstsource, Inc.                                                                       | BLDR 6.375 06/15/32 144A                            | CUSIP: 12008RAR8<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    366000 | PA      | $365967.57    | 0.25%             | 2032-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TRANSCONTINENTAL GAS PIPELINE COMPANY LLC                                                        | WMB 5.1 03/15/36 144A                               | CUSIP: 893574AS2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    238000 | PA      | $235990.10    | 0.16%             | 2036-03-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Sysco Corporation                                                                                | SYY 5.4 03/23/35                                    | CUSIP: 871829BV8<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |    177000 | PA      | $175808.73    | 0.12%             | 2035-03-23      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| OBX 2025-NQM2 TRUST                                                                              | OBX 2025-NQM2 A1                                    | CUSIP: 67120VAA3<br>LEI: 2549006BC0G3YEF5SL09 | Long             | ABS-O            | CORP              | US        |    141155 | PA      | $141916.52    | 0.10%             | 2064-11-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| Cars Db4 LP                                                                                      | CAUTO 2023-1A A1                                    | CUSIP: 12510HAS9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    130900 | PA      | $131472.65    | 0.09%             | 2053-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 4.625 02/15/55                                    | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    772000 | PA      | $736506.10    | 0.50%             | 2055-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Aviation Capital Group LLC                                                                       | ACGCAP 3.5 11/01/27 144A                            | CUSIP: 05369AAA9<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    183000 | PA      | $179750.65    | 0.12%             | 2027-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                               | TMUS 3.875 04/15/30                                 | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    125000 | PA      | $121767.78    | 0.08%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CSL Finance PLC                                                                                  | CSLAU 4.625 04/27/42 144A                           | CUSIP: 12661PAD1<br>LEI: 2549007CCNBNAF4HBC02 | Long             | DBT              | CORP              | GB        |    302000 | PA      | $267162.12    | 0.18%             | 2042-04-27      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| GCAT 2026-NQM1 TRUST                                                                             | GCAT 2026-NQM1 A1                                   | CUSIP: 36274BAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    493691 | PA      | $488969.57    | 0.33%             | 2070-12-25      | Variable      | 4.79%                 | No            |                  2 | On Loan: No      |
| CF Industries, Inc.                                                                              | CF 5.3 11/26/35                                     | CUSIP: 12527GAL7<br>LEI: 5FVKT86LAD2F40NPC183 | Long             | DBT              | CORP              | US        |    153000 | PA      | $152440.36    | 0.10%             | 2035-11-26      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Metronet Infrastructure Issuer LLC.                                                              | MNET 2025-2A A2                                     | CUSIP: 59170JAX6<br>LEI: 5493000BIROCAEATAQ61 | Long             | ABS-O            | CORP              | US        |    179578 | PA      | $181347.54    | 0.12%             | 2055-08-20      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp.             | CHTR 5.125 07/01/49                                 | CUSIP: 161175BS2<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |    274000 | PA      | $210550.14    | 0.14%             | 2049-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SIERRA TIMESHARE 2023-2 RECEIVABLES FUNDING LLC                                                  | SRFC 2023-2A A                                      | CUSIP: 82650BAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     66490 | PA      | $67842.68     | 0.05%             | 2040-04-20      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                                                                           | ISPIM V8.248 11/21/33 144A                          | CUSIP: 46115HBV8<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    600000 | PA      | $691685.24    | 0.47%             | 2033-11-21      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Huntington Ingalls Industries, Inc.                                                              | HII 2.043 08/16/28                                  | CUSIP: 446413AZ9<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |    338000 | PA      | $320344.55    | 0.22%             | 2028-08-16      | Fixed         | 2.04%                 | No            |                  2 | On Loan: No      |
| Microchip Technology Incorporated                                                                | MCHP 5.05 03/15/29                                  | CUSIP: 595017BE3<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |    238000 | PA      | $241492.76    | 0.16%             | 2029-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp                                                                                 | DUK 4.95 09/15/35                                   | CUSIP: 26441CCJ2<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    392000 | PA      | $382281.36    | 0.26%             | 2035-09-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                            | BAC V5.045 02/06/37                                 | CUSIP: 060505GR9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    536000 | PA      | $529084.63    | 0.36%             | 2037-02-06      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| CSMC 2021-RPL3 TRUST                                                                             | CSMC 2021-RPL3 A1                                   | CUSIP: 12661GAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    542867 | PA      | $482067.40    | 0.33%             | 2060-01-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust 2019-6                                                       | NRZT 2019-6A A1B                                    | CUSIP: 64828GAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    128084 | PA      | $120845.51    | 0.08%             | 2059-09-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 4 11/15/52                                        | CUSIP: 912810TL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     80000 | PA      | $68753.12     | 0.05%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Micron Technology Inc.                                                                           | MU 5.3 01/15/31                                     | CUSIP: 595112CD3<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    154000 | PA      | $161246.90    | 0.11%             | 2031-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                                 | NRG 6 02/01/33 144A                                 | CUSIP: 629377CW0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    258000 | PA      | $258230.91    | 0.17%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK Financing I PLC                                                                       | VMED 4.75 07/15/31 144A                             | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $172286.26    | 0.12%             | 2031-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Westlake Corporation                                                                             | WLK 5.55 11/15/35                                   | CUSIP: 960413BB7<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | DBT              | CORP              | US        |    201000 | PA      | $200447.25    | 0.14%             | 2035-11-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Cross 2025-H8 Mortgage Trust                                                                     | CROSS 2025-H8 A1                                    | CUSIP: 22757XAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    235052 | PA      | $234044.77    | 0.16%             | 2070-11-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc.                                                                             | GILD 5.1 06/15/35                                   | CUSIP: 375558CC5<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    246000 | PA      | $248630.97    | 0.17%             | 2035-06-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Targa Resources Partners LP/Targa Resources Finance Corp.                                        | TRGP 4 01/15/32                                     | CUSIP: 87612BBU5<br>LEI: 6OQWTZ1SPC04IFT4T704 | Long             | DBT              | CORP              | US        |    132000 | PA      | $125155.55    | 0.08%             | 2032-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fiserv Inc.                                                                                      | FISV 5.45 03/02/28                                  | CUSIP: 337738BD9<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    256000 | PA      | $259759.03    | 0.18%             | 2028-03-02      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Diamondback Energy Inc                                                                           | FANG 5.15 01/30/30                                  | CUSIP: 25278XAY5<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    307000 | PA      | $313504.99    | 0.21%             | 2030-01-30      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Equinor ASA                                                                                      | EQNR 4.75 11/14/35                                  | CUSIP: 29446MAP7<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | DBT              | CORP              | NO        |    474000 | PA      | $466909.82    | 0.32%             | 2035-11-14      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Oneok Inc.                                                                                       | OKE 6.1 11/15/32                                    | CUSIP: 682680BG7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    338000 | PA      | $356232.33    | 0.24%             | 2032-11-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| DnB Bank ASA                                                                                     | DnB Bank ASA 0% CP 14/07/2026                       | CUSIP: 2332K1GE4<br>LEI: 549300GKFG0RYRRQ1414 | Long             | STIV             | CORP              | NO        |   1300000 | PA      | $1285695.58   | 0.87%             | 2026-07-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Hyatt Hotels Corporation                                                                         | H 5.4 12/15/35                                      | CUSIP: 448579AW2<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    199000 | PA      | $195025.45    | 0.13%             | 2035-12-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 2.875 05/15/49                                    | CUSIP: 912810SH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    696000 | PA      | $495030.00    | 0.33%             | 2049-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Sitios Latinoamerica S.A.B. De C.V                                                               | SILAMX 6 11/25/29 144A                              | CUSIP: 82983PAA1<br>LEI: 984500D2C0CDC0BFDD35 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $201900.00    | 0.14%             | 2029-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 2.5 05/15/46                                      | CUSIP: 912810RS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1063000 | PA      | $730646.41    | 0.49%             | 2046-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                            | BAC V5.819 09/15/29                                 | CUSIP: 06051GLS6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    524000 | PA      | $540621.01    | 0.37%             | 2029-09-15      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines Lng LLC                                                               | VEGLPL 6.75 01/15/36 144A                           | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    141000 | PA      | $149432.08    | 0.10%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 1.625 11/15/50                                    | CUSIP: 912810SS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1162000 | PA      | $606509.53    | 0.41%             | 2050-11-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                                                              | DAL 4.75 10/20/28 144A                              | CUSIP: 830867AB3<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    276833 | PA      | $276532.70    | 0.19%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                                                         | AESOP 2024-1A A                                     | CUSIP: 05377RHY3<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1023424.40   | 0.69%             | 2030-06-20      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| Viking Cruises, Ltd.                                                                             | VIKCRU 5.875 10/15/33 144A                          | CUSIP: 92676XAH0<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    333000 | PA      | $329012.94    | 0.22%             | 2033-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Matador Resources Company                                                                        | MTDR 6.5 04/15/32 144A                              | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    262000 | PA      | $265044.45    | 0.18%             | 2032-04-15      | Fixed         | 6.50%                 | 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        |    106000 | PA      | $95026.95     | 0.06%             | 2031-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Azorra Finance Ltd.                                                                              | AZORRA 6.25 02/15/34 144A                           | CUSIP: 05480AAC9<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |    415000 | PA      | $386195.22    | 0.26%             | 2034-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HAT Holdings I LLC and HAT Holdings II LLC                                                       | HASI 3.375 06/15/26 144A                            | CUSIP: 418751AE3<br>LEI: 254900YE1WH1XG7Y4E44 | Long             | DBT              | CORP              | US        |    228000 | PA      | $227210.58    | 0.15%             | 2026-06-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VACATIONS TRUST 2025-2                                                              | HGVT 2025-2A C                                      | CUSIP: 43285JAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    288814 | PA      | $287808.74    | 0.19%             | 2044-05-25      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                                      | VZ 1.75 01/20/31                                    | CUSIP: 92343VFR0<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     81000 | PA      | $71040.00     | 0.05%             | 2031-01-20      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| VB-S1 ISSUER LLC                                                                                 | VBTEL 2026-1A C2                                    | CUSIP: 91825HAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1100000 | PA      | $1082201.78   | 0.73%             | 2056-03-15      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                                                              | FITB V5.141 01/29/37                                | CUSIP: 316773DP2<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    378000 | PA      | $368379.38    | 0.25%             | 2037-01-29      | Fixed         | 5.14%                 | 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        |    250000 | PA      | $250219.25    | 0.17%             | 2037-10-15      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                                       | BA 5.93 05/01/60                                    | CUSIP: 097023CX1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    246000 | PA      | $236335.58    | 0.16%             | 2060-05-01      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| PALMER SQUARE CLO 2019-1 LTD                                                                     | PLMRS 2019-1A CR2                                   | CUSIP: 69700GBA9<br>LEI: 549300Y43K78UTRMTN21 | Long             | ABS-CBDO         | CORP              | KY        |   1390000 | PA      | $1386181.67   | 0.94%             | 2038-08-16      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.                                                            | ARE 5.25 03/15/36                                   | CUSIP: 015271BF5<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |    201000 | PA      | $196381.08    | 0.13%             | 2036-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Uzbekistan (The Republic of)                                                                     | UZBEK 3.9 10/19/31 144A                             | CUSIP: 91822Q2E6<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |    200000 | PA      | $181003.37    | 0.12%             | 2031-10-19      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                                                     | AVOL 5.75 11/15/29 144A                             | CUSIP: 05401AAV3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    474000 | PA      | $485822.49    | 0.33%             | 2029-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Intel Corporation                                                                                | INTC 4.8 10/01/41                                   | CUSIP: 458140AK6<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    246000 | PA      | $215236.93    | 0.15%             | 2041-10-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Ecuador (Republic Of)                                                                            | ECUA 5 07/31/40 144A                                | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    306000 | PA      | $240210.00    | 0.16%             | 2040-07-31      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Expedia Group Inc                                                                                | EXPE 5.4 02/15/35                                   | CUSIP: 30212PBL8<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |    353000 | PA      | $350353.08    | 0.24%             | 2035-02-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                                     | AVGO 4.95 01/15/36                                  | CUSIP: 11135FDB4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    157000 | PA      | $154900.66    | 0.10%             | 2036-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST 2022-2                                                    | SDART 2026-1 C                                      | CUSIP: 80288FAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    360000 | PA      | $355683.02    | 0.24%             | 2032-04-15      | Fixed         | 4.26%                 | No            |                  2 | On Loan: No      |
| GE Healthcare Technologies Inc.                                                                  | GEHC 4.95 12/15/35                                  | CUSIP: 36266GAE7<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |     99000 | PA      | $97128.74     | 0.07%             | 2035-12-15      | Fixed         | 4.95%                 | 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        |    340000 | PA      | $308462.78    | 0.21%             | 2032-03-11      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                                        | GS V5.387 02/02/41                                  | CUSIP: 38145GAU4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    353000 | PA      | $341180.48    | 0.23%             | 2041-02-02      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners Lp                                                                      | CQP 5.95 06/30/33                                   | CUSIP: 16411QAQ4<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    125000 | PA      | $131081.74    | 0.09%             | 2033-06-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                                                               | META 4.2 11/15/30                                   | CUSIP: 30303MAB8<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    331000 | PA      | $327864.55    | 0.22%             | 2030-11-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| VANTAGE DATA CENTERS ISSUER LLC                                                                  | VDC 2025-1A A2                                      | CUSIP: 92212KAH9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    800000 | PA      | $784061.44    | 0.53%             | 2055-08-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Ecopetrol S.A.                                                                                   | ECOPET 8.375 01/19/36                               | CUSIP: 279158AV1<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    306000 | PA      | $310507.88    | 0.21%             | 2036-01-19      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Quanta Services, Inc.                                                                            | PWR 5.25 08/09/34                                   | CUSIP: 74762EAL6<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |    132000 | PA      | $132859.23    | 0.09%             | 2034-08-09      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Vulcan Materials Company                                                                         | VMC 5.35 12/01/34                                   | CUSIP: 929160BC2<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |    232000 | PA      | $235819.80    | 0.16%             | 2034-12-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| BBVA MEXICO SA TEXAS BRANCH                                                                      | BBVASM V5.875 09/13/34 144A                         | CUSIP: 05533UAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $589695.98    | 0.40%             | 2034-09-13      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 3.875 07/31/30                                    | CUSIP: 91282CNN7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    237000 | PA      | $236634.32    | 0.16%             | 2030-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| The Cigna Group                                                                                  | CI 2.4 03/15/30                                     | CUSIP: 125523CL2<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    157000 | PA      | $145081.41    | 0.10%             | 2030-03-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 3.625 12/31/30                                    | CUSIP: 91282CPR6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     75000 | PA      | $73987.79     | 0.05%             | 2030-12-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VACATIONS TRUST 2024-3                                                              | HGVT 2024-3A B                                      | CUSIP: 43283NAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    130401 | PA      | $131246.16    | 0.09%             | 2040-08-25      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 2.5 02/15/45                                      | CUSIP: 912810RK6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1083000 | PA      | $759834.49    | 0.51%             | 2045-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| OBX 2024-NQM14 TRUST                                                                             | OBX 2024-NQM14 A1                                   | CUSIP: 67119XAC8<br>LEI: 254900C7ZCEHM7Y5MX79 | Long             | ABS-O            | CORP              | US        |    232600 | PA      | $232243.83    | 0.16%             | 2064-09-25      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| Health Care Service Corp A Mutual Legal Reserve Co.                                              | HCSERV 5.875 06/15/54 144A                          | CUSIP: 42218SAM0<br>LEI: 549300TMJ1FKCKECR148 | Long             | DBT              | CORP              | US        |    118000 | PA      | $111077.21    | 0.08%             | 2054-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NCR Voyix Corporation                                                                            | VYX 5.125 04/15/29 144A                             | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    345000 | PA      | $330315.90    | 0.22%             | 2029-04-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                                   | MS V4.708 03/12/32                                  | CUSIP: 61747YGB5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    631000 | PA      | $626888.18    | 0.42%             | 2032-03-12      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| First National Master Note Trust                                                                 | FNMNT 2023-1 A                                      | CUSIP: 32113CBV1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $150051.44    | 0.10%             | 2029-04-16      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                                      | COF V5.399 01/30/37                                 | CUSIP: 14040HDQ5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98030.96     | 0.07%             | 2037-01-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2018-1                                                       | NRZT 2018-1A A1A                                    | CUSIP: 64830GAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     48660 | PA      | $47508.47     | 0.03%             | 2057-12-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                                                            | AAL 3.15 02/15/32 AA                                | CUSIP: 02377LAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    101164 | PA      | $94420.24     | 0.06%             | 2032-02-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| DOLP TRUST 2021-NYC                                                                              | DOLP 2021-NYC A                                     | CUSIP: 23345LAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    220000 | PA      | $197643.12    | 0.13%             | 2041-05-10      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| Gm Financial Revolving Receivables Trust 2021-1                                                  | GMREV 2021-1 A                                      | CUSIP: 36263HAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1210000 | PA      | $1193895.75   | 0.81%             | 2034-06-12      | Fixed         | 1.17%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                                     | ORCL 5.875 09/26/45                                 | CUSIP: 68389XDP7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    212000 | PA      | $183036.99    | 0.12%             | 2045-09-26      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp                                                                                 | DUK 5 12/08/27                                      | CUSIP: 26441CBW4<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126372.93    | 0.09%             | 2027-12-08      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                                                                 | UWMC 6.25 03/15/31 144A                             | CUSIP: 903522AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    338000 | PA      | $308095.62    | 0.21%             | 2031-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Fortitude Group Holdings LLC                                                                     | FORTRE 6.25 04/01/30 144A                           | CUSIP: 34966XAA6<br>LEI: 2549006R9ZUL08JFIH12 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127363.73    | 0.09%             | 2030-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Western Midstream Operating LP                                                                   | WES 6.15 04/01/33                                   | CUSIP: 958667AE7<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    252000 | PA      | $263149.21    | 0.18%             | 2033-04-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                                | WFC V5.244 01/24/31                                 | CUSIP: 95000U3P6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    316000 | PA      | $322200.74    | 0.22%             | 2031-01-24      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 1.25 05/15/50                                     | CUSIP: 912810SN9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    476000 | PA      | $226044.22    | 0.15%             | 2050-05-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| OBX 2025-NQM13 TRUST                                                                             | OBX 2025-NQM13 A1                                   | CUSIP: 67121UAA4<br>LEI: 254900FPAGVH6E25VL74 | Long             | ABS-O            | CORP              | US        |    121382 | PA      | $121851.45    | 0.08%             | 2065-05-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| Tyco Electronics Group SA                                                                        | TEL 5 05/09/35                                      | CUSIP: 902133BD8<br>LEI: C33G1C5SYE2YM95EE712 | Long             | DBT              | CORP              | LU        |    331000 | PA      | $330056.81    | 0.22%             | 2035-05-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Constellation Brands, Inc.                                                                       | STZ 4.95 11/01/35                                   | CUSIP: 21036PBT4<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    212000 | PA      | $204743.83    | 0.14%             | 2035-11-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                                                                 | UWMC 6.625 02/01/30 144A                            | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    104000 | PA      | $98182.95     | 0.07%             | 2030-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 1.875 02/15/41                                    | CUSIP: 912810SW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1407000 | PA      | $975254.35    | 0.66%             | 2041-02-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners Lp                                                                      | CQP 4.5 10/01/29                                    | CUSIP: 16411QAG6<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    201000 | PA      | $200183.64    | 0.14%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Edison International                                                                             | EIX 4.8 03/15/31                                    | CUSIP: 281020BD8<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    360000 | PA      | $351601.66    | 0.24%             | 2031-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines Lng LLC                                                               | VEGLPL 6.125 12/15/30 144A                          | CUSIP: 922966AE6<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    203000 | PA      | $208882.13    | 0.14%             | 2030-12-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                                         | HCA 4.9 11/15/35                                    | CUSIP: 404119DF3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    324000 | PA      | $313372.96    | 0.21%             | 2035-11-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                             | JPM V4.898 01/22/37                                 | CUSIP: 46647PFJ0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    267000 | PA      | $261362.46    | 0.18%             | 2037-01-22      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Uzbek Industrial and Construction Bank                                                           | SQBNZU 8.95 07/24/29 144A                           | CUSIP: 917935AA6<br>LEI: 213800C2NIFPFTXYIU69 | Long             | DBT              | CORP              | UZ        |    600000 | PA      | $636048.00    | 0.43%             | 2029-07-24      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| Oak-Eagle AcquireCo Inc.                                                                         | EA 7.25 07/01/33 144A                               | CUSIP: 67124CAA1<br>LEI: 6488ICS9P20290MA1H31 | Long             | DBT              | CORP              | US        |    144000 | PA      | $149291.20    | 0.10%             | 2033-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Brown & Brown Inc                                                                                | BRO 5.25 06/23/32                                   | CUSIP: 115236AL5<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |     85000 | PA      | $84894.62     | 0.06%             | 2032-06-23      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                                        | GS V2.65 10/21/32                                   | CUSIP: 38141GYN8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    378000 | PA      | $335697.11    | 0.23%             | 2032-10-21      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Intuit Inc                                                                                       | INTU 5.5 09/15/53                                   | CUSIP: 46124HAH9<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |    106000 | PA      | $97580.27     | 0.07%             | 2053-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| IHS MAURITIUS NG HOLDCO LTD                                                                      | IHS 8 09/18/27 144A                                 | CUSIP: 44963LAC0<br>LEI: 5493006Z6YQYCCN2XI74 | Long             | DBT              | CORP              | MU        |    240616 | PA      | $240898.78    | 0.16%             | 2027-09-18      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Carnival Corporation                                                                             | CCL 6.125 02/15/33 144A                             | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    415000 | PA      | $419369.95    | 0.28%             | 2033-02-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Synopsys Inc                                                                                     | SNPS 5.15 04/01/35                                  | CUSIP: 871607AE7<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    170000 | PA      | $170385.82    | 0.12%             | 2035-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 2.375 02/15/42                                    | CUSIP: 912810TF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    495000 | PA      | $360905.27    | 0.24%             | 2042-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| WESTLAKE AUTOMOBILE RECEIVABLES TRUST 2026-1                                                     | WLAKE 2026-1A C                                     | CUSIP: 96043BAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1090000 | PA      | $1082504.62   | 0.73%             | 2031-06-16      | Fixed         | 4.37%                 | No            |                  2 | On Loan: No      |
| MVW 2021-1W LLC                                                                                  | MVWOT 2021-1WA C                                    | CUSIP: 55389TAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    419519 | PA      | $405876.21    | 0.27%             | 2041-01-22      | Fixed         | 1.94%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                                                               | DOMREP 4.875 09/23/32 144A                          | CUSIP: 25714PEF1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    350000 | PA      | $323365.00    | 0.22%             | 2032-09-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 1.875 11/15/51                                    | CUSIP: 912810TB4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    778000 | PA      | $427626.49    | 0.29%             | 2051-11-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Gulfstream Natural Gas System LLC                                                                | GULFNG 5.6 07/23/35 144A                            | CUSIP: 402740AG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    132000 | PA      | $133860.18    | 0.09%             | 2035-07-23      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| The Kroger Co.                                                                                   | KR 5 09/15/34                                       | CUSIP: 501044DV0<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    199000 | PA      | $196552.14    | 0.13%             | 2034-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bunge Ltd Finance Corp.                                                                          | BG 5.15 08/04/35                                    | CUSIP: 120568BR0<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |    382000 | PA      | $380539.05    | 0.26%             | 2035-08-04      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Prosus NV                                                                                        | PRXNA 4.027 08/03/50 144A                           | CUSIP: 74365PAD0<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |    600000 | PA      | $402250.93    | 0.27%             | 2050-08-03      | Fixed         | 4.03%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VACATIONS TRUST 2025-2                                                              | HGVT 2025-2A B                                      | CUSIP: 43285JAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    216611 | PA      | $215139.37    | 0.15%             | 2044-05-25      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| WE Soda Investments Holding PLC                                                                  | WESODA 9.375 02/14/31 REGS                          | CUSIP: 000000000<br>LEI: 984500SE38C07DB47A90 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $394998.98    | 0.27%             | 2031-02-14      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                                  | CVS 5.45 09/15/35                                   | CUSIP: 126650EK2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    320000 | PA      | $321359.49    | 0.22%             | 2035-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Bayer US Finance II LLC                                                                          | BAYNGR 4.2 07/15/34 144A                            | CUSIP: 07274NAZ6<br>LEI: 529900XWNEXYNJ3X6T40 | Long             | DBT              | CORP              | US        |    177000 | PA      | $163045.04    | 0.11%             | 2034-07-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Sonoco Products Company                                                                          | SON 5.75 11/01/40                                   | CUSIP: 835495AJ1<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | DBT              | CORP              | US        |     78000 | PA      | $78026.00     | 0.05%             | 2040-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Herc Holdings Inc                                                                                | HRI 5.75 03/15/31 144A                              | CUSIP: 42704LAH7<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    338000 | PA      | $333189.25    | 0.23%             | 2031-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                                      | COF V6.183 01/30/36                                 | CUSIP: 14040HDJ1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     85000 | PA      | $86498.44     | 0.06%             | 2036-01-30      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC / (Albertsons Safeway LLC) | ACI 6.25 03/15/33 144A                              | CUSIP: 01309QAB4<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |    326000 | PA      | $328446.63    | 0.22%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VACATIONS TRUST 2020-A                                                              | HGVT 2020-AA A                                      | CUSIP: 43285HAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    825969 | PA      | $814607.63    | 0.55%             | 2039-02-25      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                                           | BWY 7.875 04/15/30 144A                             | CUSIP: 57763RAE7<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    293000 | PA      | $293209.50    | 0.20%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| GABX Leasing LLC                                                                                 | GATX 5.3 04/15/36 144A                              | CUSIP: 36274FAB5<br>LEI: 25490085PXP0WGRIRI44 | Long             | DBT              | CORP              | US        |    142000 | PA      | $139446.61    | 0.09%             | 2036-04-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 4.75 02/15/56                                     | CUSIP: 912810UR7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1394000 | PA      | $1359803.44   | 0.92%             | 2056-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                            | FNMA-30YR                                           | CUSIP: 01F022642<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2181000 | PA      | $1834084.69   | 1.24%             | 2056-04-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                                                          | HYNMTR 5.4 06/23/32 144A                            | CUSIP: 44891ADX2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    408000 | PA      | $415447.38    | 0.28%             | 2032-06-23      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                                      | COF V5.197 09/11/36                                 | CUSIP: 14040HDN2<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    338000 | PA      | $327799.47    | 0.22%             | 2036-09-11      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust 2022-4                                                                 | TPMT 2022-4 A1                                      | CUSIP: 89180YAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    442465 | PA      | $421629.54    | 0.28%             | 2062-09-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                                       | BA 5.805 05/01/50                                   | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    177000 | PA      | $171219.19    | 0.12%             | 2050-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| 7-Eleven Inc.                                                                                    | SVELEV 1.8 02/10/31 144A                            | CUSIP: 817826AE0<br>LEI: 549300K23JPL0SS3LB18 | Long             | DBT              | CORP              | US        |    340000 | PA      | $294435.99    | 0.20%             | 2031-02-10      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Ingersoll Rand Inc                                                                               | IR 5.45 06/15/34                                    | CUSIP: 45687VAF3<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |    246000 | PA      | $251275.29    | 0.17%             | 2034-06-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| LIGHTPATH FIBER ISSUER LLC                                                                       | LPATH 2026-1A A2                                    | CUSIP: 53229YAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    765000 | PA      | $764745.10    | 0.52%             | 2056-03-25      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 3 11/15/45                                        | CUSIP: 912810RP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1452000 | PA      | $1098018.28   | 0.74%             | 2045-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Novelis Corporation                                                                              | HNDLIN 3.875 08/15/31 144A                          | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    449000 | PA      | $400359.61    | 0.27%             | 2031-08-15      | Fixed         | 3.88%                 | 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        |    392000 | PA      | $403299.97    | 0.27%             | 2035-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Samarco Mineracao SA                                                                             | SAMMIN 9.5 06/30/31 REGS                            | CUSIP: 000000000<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |    280875 | PA      | $276530.40    | 0.19%             | 2031-06-30      | Variable      | 9.50%                 | No            |                  2 | On Loan: No      |
| Boston Properties LP                                                                             | BXP 5.75 01/15/35                                   | CUSIP: 10112RBJ2<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |    199000 | PA      | $197991.87    | 0.13%             | 2035-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| American Homes 4 Rent L P                                                                        | AMH 5.5 02/01/34                                    | CUSIP: 02666TAG2<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |    338000 | PA      | $341265.62    | 0.23%             | 2034-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 4.625 11/15/55                                    | CUSIP: 912810UP1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    910000 | PA      | $869618.75    | 0.59%             | 2055-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                                     | ORCL 5.95 09/26/55                                  | CUSIP: 68389XDR3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    212000 | PA      | $178481.19    | 0.12%             | 2055-09-26      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Elevance Health Inc.                                                                             | ELV 5.7 09/15/55                                    | CUSIP: 036752BL6<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    183000 | PA      | $174133.23    | 0.12%             | 2055-09-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                                         | HCA 6 04/01/54                                      | CUSIP: 404119CV9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    267000 | PA      | $257932.89    | 0.17%             | 2054-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 4.75 05/15/55                                     | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    244000 | PA      | $237661.72    | 0.16%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CHI COMMERCIAL MORTGAGE TRUST 2025-                                                              | CHI 2025-110W A                                     | CUSIP: 12577HAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    850000 | PA      | $845427.60    | 0.57%             | 2040-12-13      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| InRetail Consumer                                                                                | INRCON 3.25 03/22/28 144A                           | CUSIP: 45790TAB1<br>LEI: 254900BI1YXHZ31NSP51 | Long             | DBT              | CORP              | PE        |    300000 | PA      | $288645.46    | 0.19%             | 2028-03-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                                                                     | WIB 0 06/02/26                                      | CUSIP: 912797TU1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $993788.52    | 0.67%             | 2026-06-02      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 4.625 11/15/45                                    | CUSIP: 912810UQ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    433000 | PA      | $417709.69    | 0.28%             | 2045-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| LPL Holdings Inc.                                                                                | LPLA 4 03/15/29 144A                                | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    286000 | PA      | $277926.91    | 0.19%             | 2029-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                                      | COF V5.884 07/26/35                                 | CUSIP: 14040HDH5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    437000 | PA      | $447778.12    | 0.30%             | 2035-07-26      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CHILE ELECTRICITY LUX MPC II SARL                                                                | CHLMPC 5.58 10/20/35 144A                           | CUSIP: 16882LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    195501 | PA      | $196633.43    | 0.13%             | 2035-10-20      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Duke Energy Indiana, LLC.                                                                        | DUK 4.95 03/15/36 DDDD                              | CUSIP: 26443TAG1<br>LEI: 6URPHM2EAWGJ2C6ISB97 | Long             | DBT              | CORP              | US        |     76000 | PA      | $74847.51     | 0.05%             | 2036-03-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                                  | CVS 6 06/01/44                                      | CUSIP: 126650EE6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    183000 | PA      | $180294.93    | 0.12%             | 2044-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TOWD POINT MORTGAGE TRUST 2018-5                                                                 | TPMT 2018-5 A1A                                     | CUSIP: 89176VAK8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40593 | PA      | $40408.91     | 0.03%             | 2058-07-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                                     | ORCL 5.7 02/04/36                                   | CUSIP: 68389XDZ5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    252000 | PA      | $242404.27    | 0.16%             | 2036-02-04      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| SCF EQUIPMENT LEASING 2025-1 LLC                                                                 | SCFET 2025-1A A2                                    | CUSIP: 78437DAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    147730 | PA      | $148083.59    | 0.10%             | 2030-07-22      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| YPF Sociedad Anonima                                                                             | YPFDAR 9.5 01/17/31 144A                            | CUSIP: 984245AX8<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    306000 | PA      | $322294.50    | 0.22%             | 2031-01-17      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Emera US Finance LLC                                                                             | EMACN V6.65 10/01/56 A                              | CUSIP: 29103HAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    305000 | PA      | $305118.34    | 0.21%             | 2056-10-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                            | FNMA-30YR                                           | CUSIP: 01F020646<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2228000 | PA      | $1795106.55   | 1.21%             | 2056-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Owens Corning                                                                                    | OC 4.3 07/15/47                                     | CUSIP: 690742AG6<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |    280000 | PA      | $223037.18    | 0.15%             | 2047-07-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| MGM Resorts International                                                                        | MGM 6.125 09/15/29                                  | CUSIP: 552953CK5<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    258000 | PA      | $259671.84    | 0.18%             | 2029-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                                                                      | UPS 5.25 05/14/35                                   | CUSIP: 911312CJ3<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    199000 | PA      | $203472.05    | 0.14%             | 2035-05-14      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc.                                                                              | ALLY V5.737 05/15/29                                | CUSIP: 02005NBZ2<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |     73000 | PA      | $74157.08     | 0.05%             | 2029-05-15      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                                 | FR RQ0039                                           | CUSIP: 3142J6BH5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    990775 | PA      | $978271.64    | 0.66%             | 2055-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Georgia-Pacific LLC                                                                              | GP 4.95 06/30/32 144A                               | CUSIP: 37331NAT8<br>LEI: L2EVHWFHVAQK72TMH265 | Long             | DBT              | CORP              | US        |    154000 | PA      | $155668.83    | 0.11%             | 2032-06-30      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TPG Operating Group II LP                                                                        | TPG 4.875 05/15/31                                  | CUSIP: 87268QAA4<br>LEI: 2549001H9RJQNZT7MU11 | Long             | DBT              | CORP              | US        |    230000 | PA      | $225691.78    | 0.15%             | 2031-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Israel (State Of)                                                                                | ISRAEL 5.625 02/19/35 10Y                           | CUSIP: 46514Y8B6<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | NUSS              | IL        |    200000 | PA      | $203717.96    | 0.14%             | 2035-02-19      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc.                                                                                    | ENBCN 5.625 04/05/34                                | CUSIP: 29250NCC7<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    353000 | PA      | $364244.47    | 0.25%             | 2034-04-05      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 1.25 12/31/26                                     | CUSIP: 91282CDQ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    812000 | PA      | $797131.67    | 0.54%             | 2026-12-31      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| GLP Capital L.P. and GLP Financing II, Inc.                                                      | GLPI 5.625 03/01/36                                 | CUSIP: 361841AX7<br>LEI: 2549005PXW31DRW8EC44 | Long             | DBT              | CORP              | US        |    235000 | PA      | $228777.95    | 0.15%             | 2036-03-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                                       | BA 6.528 05/01/34                                   | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    170000 | PA      | $185259.15    | 0.13%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Veralto Corp.                                                                                    | VLTO 5.45 09/18/33                                  | CUSIP: 92338CAF0<br>LEI: 635400FJE6GSOJUSNY27 | Long             | DBT              | CORP              | US        |    252000 | PA      | $257464.86    | 0.17%             | 2033-09-18      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Constellation Insurance Inc.                                                                     | CONSTL 6.8 01/24/30 144A                            | CUSIP: 67740QAH9<br>LEI: 549300K609B872PZT291 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200393.06    | 0.14%             | 2030-01-24      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 3.625 05/31/28                                    | CUSIP: 91282CHE4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    161000 | PA      | $160389.96    | 0.11%             | 2028-05-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Retained Vantage Data Centers Issuer LLC / Vantage Data Centers Cda Qc4 Ltd.                     | VDCR 2023-1A A2A                                    | CUSIP: 76134KAA2<br>LEI: 254900N4NW6XZ9B4HM15 | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $249482.65    | 0.17%             | 2048-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc.                                                                                    | ENBCN 4.9 06/20/30                                  | CUSIP: 29250NCJ2<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    142000 | PA      | $143541.48    | 0.10%             | 2030-06-20      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Olympus Water US Holding Corp.                                                                   | SOLEIN 7.25 02/15/33 144*                           | CUSIP: 681639AE0<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    200000 | PA      | $190997.24    | 0.13%             | 2033-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 2.875 11/15/46                                    | CUSIP: 912810RU4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1037000 | PA      | $758265.74    | 0.51%             | 2046-11-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Store Capital LLC                                                                                | STOR 4.95 02/11/31 144A                             | CUSIP: 862123AC0<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              | CORP              | US        |    246000 | PA      | $243977.10    | 0.16%             | 2031-02-11      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                                                                    | GOOGL 5.5 02/15/46                                  | CUSIP: 02079KBN6<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    232000 | PA      | $230273.92    | 0.16%             | 2046-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Humana Inc.                                                                                      | HUM V6.625 09/15/56                                 | CUSIP: 444859CE0<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |    385000 | PA      | $370117.67    | 0.25%             | 2056-09-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Fedex Freight Holding Co. Inc.                                                                   | FDX 5.25 03/15/36 144A                              | CUSIP: 314352AG0<br>LEI: 984500Y1DA5A58ICE336 | Long             | DBT              | CORP              | US        |    139000 | PA      | $134533.27    | 0.09%             | 2036-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| First National Master Note Trust                                                                 | FNMNT 2023-2 A                                      | CUSIP: 32113CBY5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $604586.40    | 0.41%             | 2029-09-17      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| CAPITAL AUTOMOTIVE REIT                                                                          | CAUTO 2021-1A A1                                    | CUSIP: 12510HAK6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    368217 | PA      | $363549.76    | 0.25%             | 2051-08-15      | Fixed         | 1.44%                 | No            |                  2 | On Loan: No      |
| SYMPHONY CLO XIX LTD                                                                             | SYMP 2018-19A A                                     | CUSIP: 87165YAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    104054 | PA      | $104079.98    | 0.07%             | 2031-04-16      | Variable      | 4.89%                 | No            |                  2 | On Loan: No      |
| Uber Technologies Inc                                                                            | UBER 4.8 09/15/34                                   | CUSIP: 90353TAP5<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    142000 | PA      | $139096.57    | 0.09%             | 2034-09-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| APTIV SWISS HOLDINGS LTD                                                                         | APTV 3.25 03/01/32                                  | CUSIP: 00217GAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | JE        |    154000 | PA      | $144399.35    | 0.10%             | 2032-03-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                             | JPM V5.193 02/05/37                                 | CUSIP: 46647PFK7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    353000 | PA      | $347013.03    | 0.23%             | 2037-02-05      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER)              | AER 4.75 01/15/33                                   | CUSIP: 00774MBU8<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |    450000 | PA      | $437543.20    | 0.30%             | 2033-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                                  | CVS V7 03/10/55                                     | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    318000 | PA      | $327943.22    | 0.22%             | 2055-03-10      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Element Fleet Management Corp                                                                    | EFNCN 5.037 03/25/30 144A                           | CUSIP: 286181AP7<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |    445000 | PA      | $449481.52    | 0.30%             | 2030-03-25      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 2.875 08/15/45                                    | CUSIP: 912810RN0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1330000 | PA      | $987888.68    | 0.67%             | 2045-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Pfizer Investment Enterprises Pte Ltd.                                                           | PFE 5.11 05/19/43                                   | CUSIP: 716973AF9<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |    170000 | PA      | $160532.66    | 0.11%             | 2043-05-19      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 1.125 02/29/28                                    | CUSIP: 91282CBP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1801000 | PA      | $1712427.38   | 1.16%             | 2028-02-29      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Healthpeak OP LLC                                                                                | DOC 4.75 01/15/33                                   | CUSIP: 42250GAB9<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              | CORP              | US        |     51000 | PA      | $49913.59     | 0.03%             | 2033-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                             | JPM V6.087 10/23/29                                 | CUSIP: 46647PDX1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    154000 | PA      | $160042.13    | 0.11%             | 2029-10-23      | Fixed         | 6.09%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)                                                                   | MEX 6.875 05/13/37                                  | CUSIP: 91087BBC3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    600000 | PA      | $630000.00    | 0.43%             | 2037-05-13      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                                                                     | B 0 06/18/26                                        | CUSIP: 912797TD9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $992218.96    | 0.67%             | 2026-06-18      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| Triton Container International Limited / TAL International Container Corporation                 | TRTN 5.15 02/15/33                                  | CUSIP: 89681LAC6<br>LEI: 549300O4LZFLCX53XZ54 | Long             | DBT              | CORP              | BM        |     99000 | PA      | $96999.60     | 0.07%             | 2033-02-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Baxter International, Inc.                                                                       | BAX 5.65 12/15/35                                   | CUSIP: 071813DE6<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |    201000 | PA      | $196400.33    | 0.13%             | 2035-12-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                            | FNMA-30YR                                           | CUSIP: 01F052649<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4959000 | PA      | $4982615.55   | 3.37%             | 2056-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Black Hills Corporation                                                                          | BKH 3.15 01/15/27                                   | CUSIP: 092113AM1<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |    183000 | PA      | $181570.83    | 0.12%             | 2027-01-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Databank Issuer LLC / Databank Co-Issuer LLC                                                     | COLO 2026-1A A2                                     | CUSIP: 23802WAQ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $746921.85    | 0.50%             | 2056-02-25      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                                   | MS V5.831 04/19/35                                  | CUSIP: 61747YFR1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    271000 | PA      | $281439.04    | 0.19%             | 2035-04-19      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| Amgen Inc.                                                                                       | AMGN 5.6 03/02/43                                   | CUSIP: 031162DS6<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    168000 | PA      | $165850.84    | 0.11%             | 2043-03-02      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc.                                                                                    | ENBCN 5.45 03/27/36                                 | CUSIP: 29250NCR4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     96000 | PA      | $96863.47     | 0.07%             | 2036-03-27      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                                      | VZ 2.1 03/22/28                                     | CUSIP: 92343VGH1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    219000 | PA      | $210367.32    | 0.14%             | 2028-03-22      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Axa SA                                                                                           | AXASA 8.6 12/15/30                                  | CUSIP: 054536AA5<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | DBT              | CORP              | FR        |    367000 | PA      | $421990.55    | 0.29%             | 2030-12-15      | Fixed         | 8.60%                 | No            |                  2 | On Loan: No      |
| Keysight Technologies, Inc.                                                                      | KEYS 4.95 10/15/34                                  | CUSIP: 49338LAG8<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123753.12    | 0.08%             | 2034-10-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| OBX Trust 2026-NQM2                                                                              | OBX 2026-NQM3 A1                                    | CUSIP: 67449MAF6<br>LEI: 2549007DTHVTGCMU8X03 | Long             | ABS-O            | CORP              | US        |    296566 | PA      | $293875.68    | 0.20%             | 2066-01-25      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| Blackstone Reg Finance Co LLC                                                                    | BX 4.95 02/15/36                                    | CUSIP: 092914AC4<br>LEI: 254900S2G1V55FTA4590 | Long             | DBT              | CORP              | US        |    125000 | PA      | $120706.46    | 0.08%             | 2036-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Safehold GL Holdings LLC                                                                         | SAFE 6.1 04/01/34                                   | CUSIP: 785931AA4<br>LEI: 54930012UY5Z4Q8NL108 | Long             | DBT              | CORP              | US        |    256000 | PA      | $269821.49    | 0.18%             | 2034-04-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2018-BILT                                                                               | BX 2025-ARIA A                                      | CUSIP: 05619TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1100000 | PA      | $1106995.01   | 0.75%             | 2042-12-15      | Variable      | 5.03%                 | No            |                  2 | On Loan: No      |
| Synopsys Inc                                                                                     | SNPS 5.7 04/01/55                                   | CUSIP: 871607AG2<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    125000 | PA      | $119592.72    | 0.08%             | 2055-04-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                                                     | RCL 5.25 02/27/38                                   | CUSIP: 78017TAD5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    331000 | PA      | $315021.74    | 0.21%             | 2038-02-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Philip Morris International Inc.                                                                 | PM 4.25 11/10/44                                    | CUSIP: 718172BL2<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    289000 | PA      | $239588.57    | 0.16%             | 2044-11-10      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Wesco Distribution, Inc.                                                                         | WCC 5.25 04/15/31 144A                              | CUSIP: 95081QAT1<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    301000 | PA      | $299955.80    | 0.20%             | 2031-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 2.75 07/31/27                                     | CUSIP: 91282CFB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    252000 | PA      | $248500.55    | 0.17%             | 2027-07-31      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Whirlpool Corp.                                                                                  | WHR 6.125 06/15/30                                  | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    338000 | PA      | $330289.00    | 0.22%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Canadian Pacific Railway Company                                                                 | CP 2.45 12/02/31                                    | CUSIP: 13645RBF0<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |    548000 | PA      | $487117.07    | 0.33%             | 2031-12-02      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | TII 1.875 01/15/36                                  | CUSIP: 91282CPU9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    184000 | PA      | $182021.29    | 0.12%             | 2036-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Blackstone Secured Lending Fund                                                                  | BXSL 5.25 09/04/29                                  | CUSIP: 09261XAM4<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    106000 | PA      | $103953.67    | 0.07%             | 2029-09-04      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| QTS ISSUER ABS I LLC                                                                             | QTS 2025-1A A2                                      | CUSIP: 74690DAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $99058.27     | 0.07%             | 2055-05-25      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| Permian Resources Operating, LLC                                                                 | PR 6.25 02/01/33 144A                               | CUSIP: 71424VAB6<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    329000 | PA      | $335358.25    | 0.23%             | 2033-02-01      | Fixed         | 6.25%                 | 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        |    510000 | PA      | $522304.87    | 0.35%             | 2040-01-13      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| LPL Holdings Inc.                                                                                | LPLA 5.7 05/20/27                                   | CUSIP: 50212YAJ3<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    154000 | PA      | $155458.58    | 0.11%             | 2027-05-20      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                            | FN MA5528                                           | CUSIP: 31418FEA1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1277460 | PA      | $1206652.09   | 0.82%             | 2054-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Asurion LLC / Asurion Co-Issuer Inc.                                                             | ASUCOR 8 12/31/32 144A                              | CUSIP: 045941AA9<br>LEI: 549300KNQVXGIOXWK278 | Long             | DBT              | CORP              | US        |    333000 | PA      | $345749.90    | 0.23%             | 2032-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 4.125 07/31/28                                    | CUSIP: 91282CHQ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1488000 | PA      | $1498433.44   | 1.01%             | 2028-07-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Southwest Airlines Co.                                                                           | LUV 4.375 11/15/28                                  | CUSIP: 844741BL1<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |    340000 | PA      | $335688.63    | 0.23%             | 2028-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| RGA Global Funding                                                                               | RGA 5.05 12/06/31 144A                              | CUSIP: 76209PAF0<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |    445000 | PA      | $445294.76    | 0.30%             | 2031-12-06      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Brown & Brown Inc                                                                                | BRO 5.55 06/23/35                                   | CUSIP: 115236AM3<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    324000 | PA      | $323743.08    | 0.22%             | 2035-06-23      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| MV24 CAPITAL BV                                                                                  | MVFPSO 6.748 06/01/34 144A                          | CUSIP: 55388RAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    416418 | PA      | $415880.99    | 0.28%             | 2034-06-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 3.75 01/31/31                                     | CUSIP: 91282CPW5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1358000 | PA      | $1346541.88   | 0.91%             | 2031-01-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners Clo X                                                                    | BSP 2016-10A A1R3                                   | CUSIP: 08181LBE6<br>LEI: 549300MYLNCW81S1Y182 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $249993.50    | 0.17%             | 2038-07-20      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Fnma Pass-Thru I                                                                                 | FN FA2839                                           | CUSIP: 3140W3EM7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1566767 | PA      | $1321550.27   | 0.89%             | 2052-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Laboratory Corporation of America Holdings                                                       | LH 4.8 10/01/34                                     | CUSIP: 50540RBB7<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |    351000 | PA      | $341900.56    | 0.23%             | 2034-10-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Company                                                                        | ARAMCO 5 02/02/36 144A                              | CUSIP: 80415RAC5<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    300000 | PA      | $288698.07    | 0.20%             | 2036-02-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                                                     | AVOL 4.9 10/10/30 144A                              | CUSIP: 05401ABA8<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    324000 | PA      | $321907.24    | 0.22%             | 2030-10-10      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Bedford Row Funding Corp                                                                         | Bedford Row Funding Corp 0% CP 24/07/2026           | CUSIP: 07644BGQ9<br>LEI: 5493000JWH1Z48FX0180 | Long             | ABS-APCP         | CORP              | US        |   1300000 | PA      | $1283887.28   | 0.87%             | 2026-07-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc.                                                             | NOVHOL 6.625 04/15/29 144A                          | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    333000 | PA      | $327298.50    | 0.22%             | 2029-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Cargill Inc.                                                                                     | CARGIL 5.125 02/11/35 144A                          | CUSIP: 141781CD4<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |    264000 | PA      | $267630.25    | 0.18%             | 2035-02-11      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| M&T Bank Corporation                                                                             | MTB V7.413 10/30/29                                 | CUSIP: 55261FAS3<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    150000 | PA      | $160321.07    | 0.11%             | 2029-10-30      | Fixed         | 7.41%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 5 05/15/45                                        | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     76000 | PA      | $77009.38     | 0.05%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Honeywell Aerospace Inc.                                                                         | HONA 4.95 03/16/36 144A                             | CUSIP: 43849RAG0<br>LEI: 213800ZUAQRBYL67JS90 | Long             | DBT              | CORP              | US        |    118000 | PA      | $117125.48    | 0.08%             | 2036-03-16      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Philip Morris International Inc.                                                                 | PM 4.625 10/29/35                                   | CUSIP: 718172EA3<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    150000 | PA      | $144352.10    | 0.10%             | 2035-10-29      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| GE Aerospace                                                                                     | GE 5.875 01/14/38 MTN                               | CUSIP: 36962G3P7<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |     54000 | PA      | $57483.33     | 0.04%             | 2038-01-14      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 3.5 11/30/30                                      | CUSIP: 91282CPN5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     84000 | PA      | $82461.09     | 0.06%             | 2030-11-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Rocket Companies Inc                                                                             | RKT 6.375 08/01/33 144A                             | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    314000 | PA      | $317766.12    | 0.21%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Carlisle Companies Inc.                                                                          | CSL 5.25 09/15/35                                   | CUSIP: 142339AN0<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100044.12    | 0.07%             | 2035-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Cyprium Corp./Cyprium Holdings Luxembourg S.a r.l.                                               | VGNT 6.375 04/15/34 144A                            | CUSIP: 23292NAB4<br>LEI: 254900V7LN9S9W17X250 | Long             | DBT              | CORP              | US        |    307000 | PA      | $298754.60    | 0.20%             | 2034-04-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 0.625 05/15/30                                    | CUSIP: 912828ZQ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    214000 | PA      | $187484.06    | 0.13%             | 2030-05-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Ladder Capital Finance Holdings LLLP/ Ladder Capital Finance Corp.                               | LADR 4.25 02/01/27 144A                             | CUSIP: 505742AM8<br>LEI: 254900TBF2Z4GR7NSX02 | Long             | DBT              | CORP              | US        |    550000 | PA      | $543695.19    | 0.37%             | 2027-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Icg Us Clo 2014-1 Ltd                                                                            | ICG 2014-1A A2A3                                    | CUSIP: 44928XBN3<br>LEI: 25490053S2JSJU63Y978 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $999500.00    | 0.68%             | 2034-10-20      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| VEGAS TRUST 2024-TI                                                                              | VEGAS 2024-TI A                                     | CUSIP: 92254AAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | PA      | $902405.88    | 0.61%             | 2039-11-14      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 2.75 08/15/42                                     | CUSIP: 912810QX9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    568000 | PA      | $434564.37    | 0.29%             | 2042-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 2.75 02/15/28                                     | CUSIP: 9128283W8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1560000 | PA      | $1530323.43   | 1.03%             | 2028-02-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Greensaif Pipelines Bidco S.a r.l.                                                               | GASBCM 5.8528 02/23/36 144A                         | CUSIP: 39541EAD5<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $200937.60    | 0.14%             | 2036-02-23      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                               | TMUS 5 02/15/36                                     | CUSIP: 87264ADZ5<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    201000 | PA      | $198044.22    | 0.13%             | 2036-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                                                                      | HERTZ 2025-6A A                                     | CUSIP: 42806MDQ9<br>LEI: 5493004IHDYOZ9K9WF47 | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1001754.20   | 0.68%             | 2032-05-25      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| Kioxia Holdings Corp.                                                                            | KIOXIA 6.625 07/24/33 144A                          | CUSIP: 49726JAB4<br>LEI: 35380080RTKRARNH4R73 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $205744.97    | 0.14%             | 2033-07-24      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| GLP Capital L.P. and GLP Financing II, Inc.                                                      | GLPI 5.25 02/15/33                                  | CUSIP: 361841AV1<br>LEI: 2549005PXW31DRW8EC44 | Long             | DBT              | CORP              | US        |    159000 | PA      | $156001.71    | 0.11%             | 2033-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ovintiv Inc                                                                                      | OVV 6.5 08/15/34                                    | CUSIP: 292505AD6<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |    280000 | PA      | $298619.24    | 0.20%             | 2034-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Amrize Finance US LLC                                                                            | AMRZ 5.4 04/07/35                                   | CUSIP: 43475RAT3<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    212000 | PA      | $215667.96    | 0.15%             | 2035-04-07      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Expand Energy Corp.                                                                              | EXE 5.375 03/15/30                                  | CUSIP: 845467AS8<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126096.17    | 0.09%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                                                     | BACR V5.207 02/24/37                                | CUSIP: 06738EDK8<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $580914.41    | 0.39%             | 2037-02-24      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 2.75 08/15/32                                     | CUSIP: 91282CFF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     63000 | PA      | $58282.38     | 0.04%             | 2032-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management Funds                                                         | Dreyfus Government Cash Management Funds SH BEN INT | CUSIP: 262006208<br>LEI: 549300F7IDB6WRO7VJ11 | Long             | STIV             | RF                | US        |    313401 | NS      | $313400.66    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| SM Energy Co.                                                                                    | SM 7 08/01/32 144A                                  | CUSIP: 78454LAY6<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    338000 | PA      | $345384.96    | 0.23%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 2 02/15/50                                        | CUSIP: 912810SL3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1107000 | PA      | $644741.02    | 0.44%             | 2050-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GXO Logistics Inc.                                                                               | GXO 2.65 07/15/31                                   | CUSIP: 36262GAD3<br>LEI: 5493007CNWMXN78JRN66 | Long             | DBT              | CORP              | US        |    405000 | PA      | $360864.13    | 0.24%             | 2031-07-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| ANGEL OAK MORTGAGE TRUST 2025-1                                                                  | AOMT 2025-1 A1                                      | CUSIP: 034934AA7<br>LEI: 254900HC0S1X9R2JZB30 | Long             | ABS-O            | CORP              | US        |    235747 | PA      | $237195.44    | 0.16%             | 2070-01-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| Royalty Pharma PLC                                                                               | RPRX 5.2 09/25/35                                   | CUSIP: 78081BAU7<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    183000 | PA      | $180675.34    | 0.12%             | 2035-09-25      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| OCP SA                                                                                           | OCPMR 6.75 05/02/34 144A                            | CUSIP: 67091TAF2<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    600000 | PA      | $624790.24    | 0.42%             | 2034-05-02      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | TII 1.5 02/15/53                                    | CUSIP: 912810TP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    293000 | PA      | $246022.68    | 0.17%             | 2053-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 1.375 11/15/31                                    | CUSIP: 91282CDJ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    286000 | PA      | $248077.07    | 0.17%             | 2031-11-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                                      | VZ 4.75 01/15/33                                    | CUSIP: 92343VHF4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    199000 | PA      | $196610.46    | 0.13%             | 2033-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Bayer US Finance II LLC                                                                          | BAYNGR 5.5 07/30/35 144A                            | CUSIP: 07274NBA0<br>LEI: 529900XWNEXYNJ3X6T40 | Long             | DBT              | CORP              | US        |     88000 | PA      | $87032.12     | 0.06%             | 2035-07-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL AUTOMOTIVE REIT                                                                          | CAUTO 2021-1A A2                                    | CUSIP: 12510HAL4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    497093 | PA      | $428333.66    | 0.29%             | 2051-08-15      | Fixed         | 2.28%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                                     | ORCL 6.9 11/09/52                                   | CUSIP: 68389XCK9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    154000 | PA      | $145522.87    | 0.10%             | 2052-11-09      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| Totalenergies Capital USA LLC                                                                    | TTEFP 4.569 01/13/33                                | CUSIP: 89158TAB5<br>LEI: 9845000979865101C194 | Long             | DBT              | CORP              | US        |    338000 | PA      | $334687.88    | 0.23%             | 2033-01-13      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 3.5 02/28/31                                      | CUSIP: 91282CQD6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     83000 | PA      | $81395.12     | 0.05%             | 2031-02-28      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fair Isaac Corporation                                                                           | FAIRIC 6.25 09/15/34 144A                           | CUSIP: 303250AJ3<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    383000 | PA      | $377020.45    | 0.25%             | 2034-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 4 11/15/35                                        | CUSIP: 91282CPJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    379000 | PA      | $369732.27    | 0.25%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 3.75 12/31/30                                     | CUSIP: 91282CJQ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    228000 | PA      | $226080.70    | 0.15%             | 2030-12-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2017-3                                                       | NRZT 2017-3A A1                                     | CUSIP: 64828MAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     76855 | PA      | $74356.81     | 0.05%             | 2057-04-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CSMC 2020-RPL4 TRUST                                                                             | CSMC 2020-RPL4 A1                                   | CUSIP: 126405AA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1434066 | PA      | $1295615.49   | 0.88%             | 2060-01-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| WRKCO Inc                                                                                        | SW 3.9 06/01/28                                     | CUSIP: 92940PAE4<br>LEI: 549300JEB576INN13W07 | Long             | DBT              | CORP              | US        |    219000 | PA      | $216386.08    | 0.15%             | 2028-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Anglesea Funding PLC                                                                             | Anglesea Funding PLC 0% CP 06/07/2026               | CUSIP: 0347M3G65<br>LEI: 549300HEYB95TTRIM246 | Long             | ABS-APCP         | CORP              | IE        |   2000000 | PA      | $1978929.40   | 1.34%             | 2026-07-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners Lp                                                                      | CQP 4 03/01/31                                      | CUSIP: 16411QAK7<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    340000 | PA      | $326570.17    | 0.22%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                               | ET 6 06/15/48                                       | CUSIP: 29278NAE3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    338000 | PA      | $324714.57    | 0.22%             | 2048-06-15      | 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        |    280000 | PA      | $277793.48    | 0.19%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                                                                          | UNH 5.15 07/15/34                                   | CUSIP: 91324PFJ6<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    170000 | PA      | $171513.85    | 0.12%             | 2034-07-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 1.375 11/15/40                                    | CUSIP: 912810ST6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1662000 | PA      | $1071113.56   | 0.72%             | 2040-11-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co.                                                                   | HPE 5 10/15/34                                      | CUSIP: 42824CBV0<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    307000 | PA      | $297273.56    | 0.20%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CROSS 2026-NQM2 MORTGAGE TRUST                                                                   | CROSS 2026-NQM2 A1                                  | CUSIP: 227924AE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    645581 | PA      | $640269.19    | 0.43%             | 2061-03-25      | Variable      | 4.83%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | TII 0.125 07/15/30                                  | CUSIP: 912828ZZ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    223000 | PA      | $269369.17    | 0.18%             | 2030-07-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| Manhattan West 2020-1MW Mortgage Trust                                                           | OMW 2020-1MW A                                      | CUSIP: 563136AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    260000 | PA      | $250619.25    | 0.17%             | 2039-09-12      | Variable      | 2.13%                 | No            |                  2 | On Loan: No      |
| Centene Corp.                                                                                    | CNC 3.375 02/15/30                                  | CUSIP: 15135BAV3<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    228000 | PA      | $206102.40    | 0.14%             | 2030-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc.                                                                                  | CRM 5.55 03/15/36                                   | CUSIP: 79466LAU8<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |    154000 | PA      | $153579.05    | 0.10%             | 2036-03-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| BRAVO RESIDENTIAL FDG TR 2024-NQM7                                                               | BRAVO 2024-NQM7 A1                                  | CUSIP: 105698AC8<br>LEI: 254900T3YTF92WA96N66 | Long             | ABS-O            | CORP              | US        |    221558 | PA      | $222439.44    | 0.15%             | 2064-10-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| Ivory Coast (Republic Of)                                                                        | IVYCST 8.25 01/30/37 144A                           | CUSIP: 221625AU0<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    400000 | PA      | $411429.90    | 0.28%             | 2037-01-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| NXP B V / NXP Funding LLC & NXP USA Inc                                                          | NXPI 5.25 08/19/35                                  | CUSIP: 62954HBH0<br>LEI: 724500RKKW4NOJ9YQF60 | Long             | DBT              | CORP              | NL        |    367000 | PA      | $366049.10    | 0.25%             | 2035-08-19      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 3.375 11/30/27                                    | CUSIP: 91282CPL9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    591000 | PA      | $586682.93    | 0.40%             | 2027-11-30      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc.                                                                | PNC V5.423 01/25/41                                 | CUSIP: 693475CF0<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    199000 | PA      | $195037.11    | 0.13%             | 2041-01-25      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Ashtead Capital Inc.                                                                             | AHTLN 5.55 05/30/33 144A                            | CUSIP: 045054AQ6<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202049.68    | 0.14%             | 2033-05-30      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| The J M Smucker Company                                                                          | SJM 6.5 11/15/43                                    | CUSIP: 832696AY4<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |    154000 | PA      | $160623.59    | 0.11%             | 2043-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 2.875 05/15/32                                    | CUSIP: 91282CEP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    331000 | PA      | $309633.69    | 0.21%             | 2032-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLDING LUX SARL                                                                         | JBS 5.5 01/15/36                                    | CUSIP: 472140AF9<br>LEI: RB8RC03FUD8DSX57C193 | Long             | DBT              | CORP              | LU        |    233000 | PA      | $233252.81    | 0.16%             | 2036-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BRAVO RESIDENTIAL FUNDING TRUST 2025-CES1                                                        | BRAVO 2025-NQM3 A1                                  | CUSIP: 105927AC1<br>LEI: 254900AZU85EXAPTTF77 | Long             | ABS-O            | CORP              | US        |    113547 | PA      | $114113.53    | 0.08%             | 2065-03-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                                                             | GLENLN 2.625 09/23/31 144A                          | CUSIP: 378272BG2<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    256000 | PA      | $228289.83    | 0.15%             | 2031-09-23      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Company                                                                     | BMY 5.65 02/22/64                                   | CUSIP: 110122EL8<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    125000 | PA      | $121203.63    | 0.08%             | 2064-02-22      | Fixed         | 5.65%                 | 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        |    400000 | PA      | $395226.96    | 0.27%             | 2031-02-10      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| HOTWIRE FUNDING LLC                                                                              | HWIRE 2024-1A B                                     | CUSIP: 44148JAK5<br>LEI: 254900ZCO90MCT7Y9348 | Long             | ABS-O            | CORP              | US        |    270000 | PA      | $274838.10    | 0.19%             | 2054-06-20      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| CSMC 2021-RPL2 TRUST                                                                             | CSMC 2021-RPL2 A1A                                  | CUSIP: 12656TAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    284070 | PA      | $240424.65    | 0.16%             | 2060-01-25      | Variable      | 1.11%                 | No            |                  2 | On Loan: No      |
| Merck & Co., Inc                                                                                 | MRK 5 05/17/53                                      | CUSIP: 58933YBM6<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    106000 | PA      | $95604.53     | 0.06%             | 2053-05-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Comision Federal de Electricidad                                                                 | CFELEC 3.875 07/26/33 REGS                          | CUSIP: 000000000<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |    600000 | PA      | $514235.70    | 0.35%             | 2033-07-26      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 1.125 05/15/40                                    | CUSIP: 912810SR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1713000 | PA      | $1079658.40   | 0.73%             | 2040-05-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                                        | GS V5.065 01/21/37                                  | CUSIP: 38145GAS9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    264000 | PA      | $258203.80    | 0.17%             | 2037-01-21      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| American International Group Inc.                                                                | AIG 5.45 05/07/35                                   | CUSIP: 026874DX2<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127559.78    | 0.09%             | 2035-05-07      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 1.875 02/15/51                                    | CUSIP: 912810SU3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1562000 | PA      | $867642.19    | 0.59%             | 2051-02-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                                         | VST 5.35 01/31/36 144A                              | CUSIP: 92840VAZ5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    378000 | PA      | $370010.40    | 0.25%             | 2036-01-31      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                                   | MS V5.314 01/18/41                                  | CUSIP: 61748UAP7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    311000 | PA      | $300366.29    | 0.20%             | 2041-01-18      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST 2026-NQM2                                         | MSRM 2026-NQM2 A1                                   | CUSIP: 617949AC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    793554 | PA      | $786513.29    | 0.53%             | 2071-01-25      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 4.375 11/30/28                                    | CUSIP: 91282CJN2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    244000 | PA      | $247412.19    | 0.17%             | 2028-11-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Aimco Clo Series 2018-B Ltd / Llc                                                                | AIMCO 2018-BA AR3                                   | CUSIP: 00900PBC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $300075.00    | 0.20%             | 2037-04-16      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Constellation Energy Generation LLC                                                              | CEG 5.875 01/15/66                                  | CUSIP: 210385AR1<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |    154000 | PA      | $147959.78    | 0.10%             | 2066-01-15      | Fixed         | 5.88%                 | 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        |    230000 | PA      | $228290.06    | 0.15%             | 2031-03-10      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| The Cigna Group                                                                                  | CI 5.25 01/15/36                                    | CUSIP: 125523CZ1<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    264000 | PA      | $264440.48    | 0.18%             | 2036-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLT 2024-3 MORTGAGE LOAN TRUST                                                                  | COLT 2024-3 A1                                      | CUSIP: 19688VAA8<br>LEI: 213800YFAHWZN77V6P52 | Long             | ABS-O            | CORP              | US        |     83876 | PA      | $84724.29     | 0.06%             | 2069-06-25      | Variable      | 6.39%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                               | TMUS 3.5 04/15/31                                   | CUSIP: 87264ABW4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    170000 | PA      | $160838.26    | 0.11%             | 2031-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ANCHORAGE CAPITAL CLO 6 LTD                                                                      | ANCHC 2022-25A CR                                   | CUSIP: 03329WAU1<br>LEI: 54930064GO7DB3TVDY21 | Long             | ABS-CBDO         | CORP              | KY        |    350000 | PA      | $348930.40    | 0.24%             | 2038-03-20      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Heico Corp                                                                                       | HEI 5.35 08/01/33                                   | CUSIP: 422806AB5<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | DBT              | CORP              | US        |    320000 | PA      | $326089.29    | 0.22%             | 2033-08-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Sunoco LP                                                                                        | SUN 5.625 03/15/31 144A                             | CUSIP: 86765KAF6<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    338000 | PA      | $336687.99    | 0.23%             | 2031-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 4.125 03/31/31                                    | CUSIP: 91282CKF7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    190000 | PA      | $191373.05    | 0.13%             | 2031-03-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| METLIFE SECURITIZATION TRUST 2017-1                                                              | MST 2019-1A A1A                                     | CUSIP: 59166EAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     97650 | PA      | $96588.37     | 0.07%             | 2058-04-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 2.75 08/15/47                                     | CUSIP: 912810RY6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     95000 | PA      | $67253.32     | 0.05%             | 2047-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| PORT OF SPAIN WATERFRONT DEVELOPMENT LTD                                                         | POSWDL 7.875 02/19/40 144A                          | CUSIP: 73500YAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | TT        |    380000 | PA      | $380950.00    | 0.26%             | 2040-02-19      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                                       | BA 6.858 05/01/54                                   | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    157000 | PA      | $172931.64    | 0.12%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| Arrow Electronics, Inc.                                                                          | ARW 5.875 04/10/34                                  | CUSIP: 04273WAE1<br>LEI: 549300YNNLBXT8N8R512 | Long             | DBT              | CORP              | US        |    201000 | PA      | $206139.45    | 0.14%             | 2034-04-10      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Quanta Services, Inc.                                                                            | PWR 2.9 10/01/30                                    | CUSIP: 74762EAF9<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |    201000 | PA      | $186521.33    | 0.13%             | 2030-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 4.75 08/15/55                                     | CUSIP: 912810UM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    648000 | PA      | $631597.50    | 0.43%             | 2055-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                                                         | AESOP 2023-5A A                                     | CUSIP: 05377RHC1<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $253172.08    | 0.17%             | 2028-04-20      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                                     | AVGO 3.137 11/15/35 144A                            | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    410000 | PA      | $348508.16    | 0.24%             | 2035-11-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| Investment Energy Resources Ltd.                                                                 | CMIENE 6.25 04/26/29 144A                           | CUSIP: 46143NAB6<br>LEI: 254900A71Y7WHN7L5K89 | Long             | DBT              | CORP              | BM        |    200000 | PA      | $199251.84    | 0.13%             | 2029-04-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Venture 43 Limited                                                                               | VENTR 2021-43A A1RR                                 | CUSIP: 92290CAZ2<br>LEI: 549300OLN5VHTMLSN650 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $249527.25    | 0.17%             | 2034-04-15      | Variable      | 4.67%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                                            | ROMANI 7.5 02/10/37 REGS                            | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    328000 | PA      | $347159.76    | 0.23%             | 2037-02-10      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 2.25 05/15/41                                     | CUSIP: 912810SY5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    327000 | PA      | $238422.60    | 0.16%             | 2041-05-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| GCAT 2025-NQM6 TRUST                                                                             | GCAT 2025-NQM6 A1                                   | CUSIP: 36831QAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    911911 | PA      | $906644.19    | 0.61%             | 2070-10-25      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| VICI Properties LP                                                                               | VICI 4.95 02/15/30                                  | CUSIP: 925650AC7<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |    274000 | PA      | $273666.66    | 0.18%             | 2030-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                                         | VST 5.25 10/15/35 144A                              | CUSIP: 92840VAW2<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    393000 | PA      | $381943.50    | 0.26%             | 2035-10-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Retained Vantage Data Centers Issuer LLC / Vantage Data Centers Cda Qc4 Ltd.                     | VDCR 2024-1A A2                                     | CUSIP: 76134KAH7<br>LEI: 254900N4NW6XZ9B4HM15 | Long             | ABS-O            | CORP              | US        |    260000 | PA      | $253200.84    | 0.17%             | 2049-09-15      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| GXO Logistics Inc.                                                                               | GXO 6.5 05/06/34                                    | CUSIP: 36262GAG6<br>LEI: 5493007CNWMXN78JRN66 | Long             | DBT              | CORP              | US        |    183000 | PA      | $192152.22    | 0.13%             | 2034-05-06      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 4.25 08/15/54                                     | CUSIP: 912810UC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    803000 | PA      | $719375.08    | 0.49%             | 2054-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Company Inc                                                             | GM 6.15 07/15/35                                    | CUSIP: 37045XFK7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    154000 | PA      | $159325.83    | 0.11%             | 2035-07-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| B.A.T. Capital Corporation                                                                       | BATSLN 4.54 08/15/47                                | CUSIP: 05526DBF1<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    363000 | PA      | $294984.41    | 0.20%             | 2047-08-15      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Ares Capital Corp.                                                                               | ARCC 5.25 04/12/31                                  | CUSIP: 04010LBM4<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    378000 | PA      | $365622.93    | 0.25%             | 2031-04-12      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GCAT 2026-NQM2 TRUST                                                                             | GCAT 2026-NQM2 A1                                   | CUSIP: 36173JAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1001272.30   | 0.68%             | 2071-02-25      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                                                                     | B 0 05/14/26                                        | CUSIP: 912797QN0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    576000 | PA      | $573501.04    | 0.39%             | 2026-05-14      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| Colombia (Republic Of)                                                                           | COLOM 7.75 11/07/36                                 | CUSIP: 195325EP6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    600000 | PA      | $614370.00    | 0.41%             | 2036-11-07      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TreeHouse Foods, Inc.                                                                            | THS 7.75 02/11/33 144A                              | CUSIP: 456142AA6<br>LEI: 5493007M7EVHE470Q576 | Long             | DBT              | CORP              | US        |    301000 | PA      | $304387.13    | 0.21%             | 2033-02-11      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 4.125 02/15/36                                    | CUSIP: 91282CPZ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    545000 | PA      | $536526.95    | 0.36%             | 2036-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Royalty Pharma PLC                                                                               | RPRX 2.2 09/02/30                                   | CUSIP: 78081BAK9<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    274000 | PA      | $246859.73    | 0.17%             | 2030-09-02      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                                                                    | STWD 6 04/15/30 144A                                | CUSIP: 85571BBC8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    258000 | PA      | $257640.24    | 0.17%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                                                                     | B 0 06/25/26                                        | CUSIP: 912797TE7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $991541.32    | 0.67%             | 2026-06-25      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| Wells Fargo & Co.                                                                                | WFC V5.605 04/23/36                                 | CUSIP: 95000U3V3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    285000 | PA      | $291751.43    | 0.20%             | 2036-04-23      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| Amgen Inc.                                                                                       | AMGN 2.8 08/15/41                                   | CUSIP: 031162DA5<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    199000 | PA      | $143910.04    | 0.10%             | 2041-08-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corporation                                                                     | THC 5.5 11/15/32 144A                               | CUSIP: 88033GDW7<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    262000 | PA      | $259764.28    | 0.18%             | 2032-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Co Inc.                                                                | HLT 3.75 05/01/29 144A                              | CUSIP: 432833AJ0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    225000 | PA      | $215489.34    | 0.15%             | 2029-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                                     | T 4.625 02/15/46                                    | CUSIP: 912810UT3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1409000 | PA      | $1358474.13   | 0.92%             | 2046-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| HINNT 2024-A LLC                                                                                 | HINTT 2024-A A                                      | CUSIP: 40472QAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     42069 | PA      | $42610.65     | 0.03%             | 2043-03-16      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| Renaissancere Holdings Ltd.                                                                      | RNR 5.8 04/01/35                                    | CUSIP: 75968NAG6<br>LEI: EK6GB9U3U58PDI411C94 | Long             | DBT              | CORP              | BM        |     67000 | PA      | $68561.05     | 0.05%             | 2035-04-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| SIERRA TIMESHARE 2024-1 RECEIVABLES FUNDING LLC                                                  | SRFC 2024-1A A                                      | CUSIP: 826935AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150125 | PA      | $151282.78    | 0.10%             | 2043-01-20      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Orbia Advance Corp S A B De Cv                                                                   | ORBIA 6.8 05/13/30 144A                             | CUSIP: 68560EAC2<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |    600000 | PA      | $590430.00    | 0.40%             | 2030-05-13      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Roper Technologies Inc                                                                           | ROP 4.9 10/15/34                                    | CUSIP: 776696AJ5<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    280000 | PA      | $270487.39    | 0.18%             | 2034-10-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Fnma Pass-Thru I                                                                                 | FN FA3397                                           | CUSIP: 3140W3X38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    877726 | PA      | $884878.82    | 0.60%             | 2055-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Pilgrims Pride Corporation                                                                       | PPC 6.875 05/15/34                                  | CUSIP: 72147KAL2<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    201000 | PA      | $217243.41    | 0.15%             | 2034-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Inc                                                                       | HGVT 2025-1A A                                      | CUSIP: 43283CAA9<br>LEI: 549300O9K6MFD8D07574 | Long             | ABS-O            | CORP              | US        |     68543 | PA      | $68812.18     | 0.05%             | 2042-05-27      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| First Citizens BancShares Inc (Delaware)                                                         | FCNCA V5.231 03/12/31                               | CUSIP: 31959XAC7<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |    481000 | PA      | $477511.65    | 0.32%             | 2031-03-12      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Comcast Corporation                                                                              | CMCSA 4.15 10/15/28                                 | CUSIP: 20030NCT6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    267000 | PA      | $265957.83    | 0.18%             | 2028-10-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                                     | T 1.625 05/15/31                                    | CUSIP: 91282CCB5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    174000 | PA      | $155220.23    | 0.10%             | 2031-05-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                                                                     | MAR 5.1 05/01/38                                    | CUSIP: 571903BZ5<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    225000 | PA      | $213999.86    | 0.14%             | 2038-05-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-28

**Name of Applicant:** 2023 ETF Series Trust

**Signature:** Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Principal Financial Officer