# EDGAR Filing Document

**Accession Number:** 0000885709
**File Stem:** 0001752724-25-156051
**Filing Date:** 2025-6
**Character Count:** 128392
**Document Hash:** f47f56f9d93c7e74d2161b287aaddf6e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-156051.hdr.sgml**: 20250625

**ACCESSION NUMBER**: 0001752724-25-156051

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250625

**DATE AS OF CHANGE**: 20250625

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PAYDEN & RYGEL INVESTMENT GROUP
- **CENTRAL INDEX KEY:** 0000885709

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06625
- **FILM NUMBER:** 251073077

**BUSINESS ADDRESS:**
- **STREET 1:** 333 S GRAND AVE
- **STREET 2:** 40TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 2136251900

**MAIL ADDRESS:**
- **STREET 1:** 333 S GRAND AVE
- **STREET 2:** 40TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAYDENFUNDS
- **DATE OF NAME CHANGE:** 20010423

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAYDEN & RYGEL INVESTMENT GROUP
- **DATE OF NAME CHANGE:** 19940104

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** P&R INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### Payden Strategic Income Fund (Series ID: S000045226)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000140807 | Payden Strategic Income Fund (Investor Class) | PYSGX           |
| C000140808 | Payden Strategic Income Fund (SI Class)       | PYSIX           |
| C000248246 | Payden Strategic Income Fund (Adviser Class)  | PYSLX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** PAYDEN & RYGEL INVESTMENT GROUP

- **b. Investment Company Act file number:** 811-06625

- **c. CIK number of Registrant:** 0000885709

- **d. LEI of Registrant:** 549300QJNYRKYZS3P282

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

  - **Street Address 1:** 333 South Grand Avenue

  - **City:** Los Angeles

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90071

  - **Telephone number:** 213-625-1900

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

- **a. Name of Series:** Payden Strategic Income Fund

- **b. EDGAR series identifier (if any):** S000045226

- **c. LEI of Series:** 5493002EUNEMBLRCKL57

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

- **a. Date of fiscal year-end:** 2025-10-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $158287644.99

**Total Liabilities:** $3720006.88

**Net Assets:** $154567638.11

**Cash Not Reported:** $1431414.50

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 7.90486226 | **1-Year:** 27.70901517 | **5-Year:** 3374.52056900 | **10-Year:** 14602.42543000 | **30-Year:** 26559.59117000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 4963.03028900 | **10-Year:** -3544.67538800 | **30-Year:** 2792.84789500

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000140807 | 1.22%                | -0.14%               | -0.30%               |
| Class ID C000140808 | 1.23%                | -0.14%               | -0.30%               |
| Class ID C000248246 | 1.21%                | 0.04%                | -0.33%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-124886.92              | $1705010.19                                |
| Month 2  | $17094.14                | $-743987.28                                |
| Month 3  | $-51442.23               | $-672489.65                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                                   | Title                                                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.            | 5 YEAR U.S. TREASURY NOTE                                                       | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -368 | NC      | $-777488.32   | -0.50%            |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC                       | USD/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-229614.26   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl                         | Santander Drive Auto Receivables Trust 2024-S1                                  | CUSIP: 80286UAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    657083 | PA      | $658097.38    | 0.43%             | 2029-03-16      | Fixed         | 8.32%                 | No            |                  2 | On Loan: No      |
| INVITATION HOMES OP                                    | Invitation Homes Operating Partnership LP                                       | CUSIP: 46188BAD4<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              | CORP              | US        |    430000 | PA      | $400579.82    | 0.26%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| BREAD FINANCIAL HLDGS                                  | Bread Financial Holdings Inc                                                    | CUSIP: 018581AP3<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |    400000 | PA      | $421145.50    | 0.27%             | 2029-03-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan                          | New Residential Mortgage Loan Trust 2017-4                                      | CUSIP: 64829NAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    170153 | PA      | $164195.06    | 0.11%             | 2057-05-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SAAVI ENERGIA SARL                                     | Saavi Energia Sarl                                                              | CUSIP: 78518PAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    300000 | PA      | $301875.00    | 0.20%             | 2035-02-10      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| GRAN TIERRA ENERGY INC                                 | Gran Tierra Energy Inc                                                          | CUSIP: 38500TAC5<br>LEI: 549300IH2S17MAIUCM32 | Long             | DBT              | CORP              | US        |    350000 | PA      | $272519.91    | 0.18%             | 2029-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                                  | Micron Technology Inc                                                           | CUSIP: 595112CD3<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    350000 | PA      | $351722.88    | 0.23%             | 2031-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| PATTERSON-UTI ENERGY INC                               | Patterson-UTI Energy Inc                                                        | CUSIP: 703481AD3<br>LEI: 254900XGFBKIXD6G0697 | Long             | DBT              | CORP              | US        |    550000 | PA      | $541571.41    | 0.35%             | 2033-10-01      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| CPPIB CAPITAL INC                                      | CPPIB Capital Inc                                                               | CUSIP: 12593CAJ0<br>LEI: 549300KW9NB55HTDK075 | Long             | DBT              | NUSS              | CA        |    830000 | PA      | $579314.23    | 0.37%             | 2029-09-30      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| OHI GROUP SA                                           | OHI Group SA                                                                    | CUSIP: 67712MAB5<br>LEI: 529900GW2J8DSYJHEH26 | Long             | DBT              | CORP              | LU        |    350000 | PA      | $353850.00    | 0.23%             | 2029-07-22      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC                       | USD/CAD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-82188.51    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Cologix Data Centers Issuer LL                         | Cologix Canadian Issuer LP                                                      | CUSIP: 19521DAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |    675000 | PA      | $483913.21    | 0.31%             | 2052-01-25      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                                     | Regal Rexnord Corp                                                              | CUSIP: 758750AP8<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    400000 | PA      | $407889.34    | 0.26%             | 2033-04-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QT4F3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    620351 | PA      | $646054.24    | 0.42%             | 2054-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                    | Axon Enterprise Inc                                                             | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    565000 | PA      | $577275.76    | 0.37%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2024-NQM16 Trust                                                            | CUSIP: 67120GAA6<br>LEI: 254900AIRPH5Q5COT575 | Long             | ABS-MBS          | CORP              | US        |    356932 | PA      | $357684.19    | 0.23%             | 2064-10-25      | Variable      | 5.53%                 | No            |                  2 | On Loan: No      |
| Juniper Receivables 2021-2 DAC Holding Class R-1 Notes | Juniper Receivables 2021-2 DAC Holding Class R-1 Notes                          | CUSIP: 48204VAA2<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |         1 | NS      | $196266.01    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 31418ELY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1098045 | PA      | $1099260.28   | 0.71%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LIMAK CIMENTO SANAYI                                   | Limak Cimento Sanayi ve Ticaret AS                                              | CUSIP: 53263AAA6<br>LEI: 789000EEUQIGHI88WH47 | Long             | DBT              | CORP              | TR        |    350000 | PA      | $344185.45    | 0.22%             | 2029-07-25      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 31418ET75<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    990340 | PA      | $1006970.88   | 0.65%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                                        | United States Treasury Inflation Indexed Bonds                                  | CUSIP: 91282CKL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4693780 | PA      | $4847871.02   | 3.14%             | 2029-04-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                              | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $181456.88    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                     | Dominican Republic International Bond                                           | CUSIP: 25714PEZ7<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    350000 | PA      | $344365.00    | 0.22%             | 2036-06-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                                             | goeasy Ltd                                                                      | CUSIP: 380355AM9<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $488165.80    | 0.32%             | 2030-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TENN VALLEY AUTHORITY                                  | Tennessee Valley Authority                                                      | CUSIP: 880591EH1<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |    950000 | PA      | $999886.44    | 0.65%             | 2039-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Last Mile Logistics Pan Euro F                         | Last Mile Logistics Pan Euro Finance DAC                                        | CUSIP: 000000000<br>LEI: 635400NOPX1IKIAX7N90 | Long             | ABS-MBS          | CORP              | IE        |    186553 | PA      | $209914.76    | 0.14%             | 2033-08-17      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                       | CIFC Funding 2018-III Ltd                                                       | CUSIP: 12551YAA1<br>LEI: 635400OB7ZCBUWDQNV87 | Long             | ABS-CBDO         | CORP              | KY        |    498808 | PA      | $498805.31    | 0.32%             | 2031-07-18      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                                   | Paraguay Government International Bond                                          | CUSIP: 699149AD2<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    172000 | PA      | $171742.00    | 0.11%             | 2027-03-27      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| J PAUL GETTY TRUST                                     | J PAUL GETTY TRUST/THE                                                          | CUSIP: 374288AC2<br>LEI: 72TDDU3K225INPK3EI14 | Long             | DBT              | CORP              | US        |    550000 | PA      | $550165.00    | 0.36%             | 2035-04-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                | Dryden 72 CLO Ltd                                                               | CUSIP: 26252NAW9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    662303 | PA      | $661437.96    | 0.43%             | 2032-05-15      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| LCM Ltd Partnership                                    | LCM 39 Ltd                                                                      | CUSIP: 50204NAQ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    750000 | PA      | $749225.25    | 0.48%             | 2034-10-15      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, NA - CACL                         | JPMorgan Chase Bank NA - CACLN                                                  | CUSIP: 46591HBE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     93109 | PA      | $94841.04     | 0.06%             | 2028-02-25      | Fixed         | 31.36%                | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                              | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-44789.28    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS                                 | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX    | CUSIP: 07336UAC7<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |    300000 | PA      | $302058.00    | 0.20%             | 2029-09-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ABU DHABI NATIONAL ENERG                               | Abu Dhabi National Energy Co PJSC                                               | CUSIP: 00388WAQ4<br>LEI: 213800UNJSVQFNUYYW03 | Long             | DBT              | CORP              | AE        |    700000 | PA      | $692229.30    | 0.45%             | 2031-10-09      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                       | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 30711XCH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |    493937 | PA      | $532733.32    | 0.34%             | 2028-09-25      | Floating      | 16.72%                | No            |                  2 | On Loan: No      |
| Last Mile Logistics Pan Euro F                         | Last Mile Logistics Pan Euro Finance DAC                                        | CUSIP: 000000000<br>LEI: 635400NOPX1IKIAX7N90 | Long             | ABS-MBS          | CORP              | IE        |    785485 | PA      | $879531.47    | 0.57%             | 2033-08-17      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| Chase Auto Credit Linked Notes                         | JPMorgan Chase Bank NA - CACLN                                                  | CUSIP: 46591HCG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1611 | PA      | $1607.77      | 0.00%             | 2029-02-26      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3133KQEW2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    838126 | PA      | $839952.36    | 0.54%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                               | Capital One Financial Corp                                                      | CUSIP: 14040HDC6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    275000 | PA      | $306489.75    | 0.20%             | 2031-10-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 31418ES68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1516505 | PA      | $1542146.32   | 1.00%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Arbys Funding LLC                                      | Arbys Funding LLC                                                               | CUSIP: 038779AB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    209550 | PA      | $199813.62    | 0.13%             | 2050-07-30      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| TPG Real Estate Finance                                | TRTX 2021-FL4 Issuer Ltd                                                        | CUSIP: 87276WAG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $298454.49    | 0.19%             | 2038-03-15      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                              | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-311269.71   | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| BROADCOM INC                                           | Broadcom Inc                                                                    | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    192000 | PA      | $159201.89    | 0.10%             | 2035-11-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                                 | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc              | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $218999.45    | 0.14%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                               | Western Midstream Operating LP                                                  | CUSIP: 958667AF4<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103892.36    | 0.07%             | 2029-01-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: —       |
| AMFAM HOLDINGS INC                                     | AmFam Holdings Inc                                                              | CUSIP: 03115AAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    725000 | PA      | $611009.55    | 0.40%             | 2031-03-11      | Fixed         | 2.81%                 | No            |                  2 | On Loan: No      |
| PT SORIK MAR GEO POW                                   | Sorik Marapi Geothermal Power PT                                                | CUSIP: 74390TAA7<br>LEI: 254900OW9VKG09S8C597 | Long             | DBT              | CORP              | ID        |    444285 | PA      | $432622.52    | 0.28%             | 2031-08-05      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GOVT OF BERMUDA                                        | Bermuda Government International Bond                                           | CUSIP: 085209AH7<br>LEI: 549300FP5PUZXX9FVJ40 | Long             | DBT              | NUSS              | BM        |    200000 | PA      | $133089.69    | 0.09%             | 2050-08-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                                       | Peruvian Government International Bond                                          | CUSIP: 715638EB4<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    300000 | PA      | $296193.39    | 0.19%             | 2035-02-08      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2024-NQM12 Trust                                                            | CUSIP: 67448PAA1<br>LEI: 254900MY906NOBBPOA44 | Long             | ABS-MBS          | CORP              | US        |    446550 | PA      | $446921.76    | 0.29%             | 2064-07-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                       | Symphony CLO XXIV Ltd                                                           | CUSIP: 87167QAG3<br>LEI: 5493007X3UVVYJ005O73 | Long             | ABS-CBDO         | CORP              | KY        |    450000 | PA      | $449868.15    | 0.29%             | 2032-01-23      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | Freddie Mac STACR Debt Notes 2015-HQA2                                          | CUSIP: 3137G0HM4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    330450 | PA      | $343691.26    | 0.22%             | 2028-05-25      | Floating      | 14.97%                | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                              | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $102045.41    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                             | Verus Securitization Trust 2024-8                                               | CUSIP: 92540PAA6<br>LEI: 213800RZ8QGNZ38DSP77 | Long             | ABS-MBS          | CORP              | US        |    323655 | PA      | $323458.73    | 0.21%             | 2069-10-25      | Variable      | 5.36%                 | No            |                  2 | On Loan: No      |
| MARS INC                                               | Mars Inc                                                                        | CUSIP: 571676AZ8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    700000 | PA      | $705956.48    | 0.46%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN SF MTG                         | Idaho Housing & Finance Association                                             | CUSIP: 45129Y7Z3<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    350000 | PA      | $368203.14    | 0.24%             | 2065-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                               | Banco Bilbao Vizcaya Argentaria SA                                              | CUSIP: 05946KAL5<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    425000 | PA      | $439820.03    | 0.28%             | 2028-09-14      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                                    | Intesa Sanpaolo SpA                                                             | CUSIP: 46115HCB1<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    650000 | PA      | $699659.10    | 0.45%             | 2054-06-20      | Fixed         | 7.78%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                     | Energy Transfer LP                                                              | CUSIP: 29273VAQ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    400000 | PA      | $405761.30    | 0.26%             | 2033-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO                                | Arthur J Gallagher & Co                                                         | CUSIP: 04316JAN9<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |    400000 | PA      | $397252.69    | 0.26%             | 2035-02-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                                        | United States Treasury Inflation Indexed Bonds                                  | CUSIP: 91282CHP9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2941736 | PA      | $2851875.44   | 1.85%             | 2033-07-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                   | Cross 2024-H7 Mortgage Trust                                                    | CUSIP: 22757CAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    282032 | PA      | $282879.89    | 0.18%             | 2069-11-25      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | Freddie Mac STACR Trust 2019-FTR3                                               | CUSIP: 35565EAE2<br>LEI: 5493009ZFZYH4FRCW638 | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $315956.28    | 0.20%             | 2047-09-25      | Floating      | 9.25%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                              | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-285162.53   | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QPSR9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1044385 | PA      | $1001231.75   | 0.65%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CyrusOne Data Centers Issuer I                         | CyrusOne Data Centers Issuer I LLC                                              | CUSIP: 23284BAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    550000 | PA      | $532661.47    | 0.34%             | 2049-05-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DC Commercial Mortgage Trust                           | DC Commercial Mortgage Trust 2023-DC                                            | CUSIP: 24023AAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $414175.52    | 0.27%             | 2040-09-12      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                  | Foundry JV Holdco LLC                                                           | CUSIP: 350930AB9<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    500000 | PA      | $519368.62    | 0.34%             | 2030-01-25      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                                | CUSIP: 912810SZ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1940000 | PA      | $1132475.00   | 0.73%             | 2051-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                     | Banco Santander SA                                                              | CUSIP: 05964HAN5<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $384196.89    | 0.25%             | 2027-09-14      | Fixed         | 1.72%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                               | Western Midstream Operating LP                                                  | CUSIP: 958667AE7<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252693.65    | 0.16%             | 2033-04-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                   | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    600000 | PA      | $564441.42    | 0.37%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding, LLC                             | Driven Brands Funding LLC                                                       | CUSIP: 26209XAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1124566 | PA      | $1089845.06   | 0.71%             | 2050-07-20      | Fixed         | 3.79%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                 | Santander Holdings USA Inc                                                      | CUSIP: 80282KAZ9<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    450000 | PA      | $440563.13    | 0.29%             | 2026-10-05      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                              | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-146869.16   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                                      | Ares Capital Corp                                                               | CUSIP: 04010LBG7<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    350000 | PA      | $354461.24    | 0.23%             | 2029-07-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                    | Charles Schwab Corp/The                                                         | CUSIP: 808513BD6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    375000 | PA      | $374695.13    | 0.24%             | N/A             | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                               | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    825000 | PA      | $536302.71    | 0.35%             | 2061-12-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Montmartre Euro CLO                                    | Montmartre Euro CLO 2020-2 DAC                                                  | CUSIP: 000000000<br>LEI: 213800HCQ9D9IBM16U83 | Long             | ABS-CBDO         | CORP              | IE        |    250000 | PA      | $282370.79    | 0.18%             | 2034-07-15      | Floating      | 3.24%                 | No            |                  2 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN                               | Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp              | CUSIP: 559665AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $436190.22    | 0.28%             | 2032-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                    | Bank of Nova Scotia/The                                                         | CUSIP: 0641598V1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    700000 | PA      | $717995.60    | 0.46%             | 2084-01-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WaterBridge Midstream Operating LLC                    | WATERBRIDGE MIDSTREAM OPERATING LLC                                             | CUSIP: 94120XAF2<br>LEI: 549300DVU86VSP486341 | Long             | LON              | CORP              | US        |    273687 | PA      | $262130.89    | 0.17%             | 2029-06-27      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| Pegasus Bidco Bv                                       | PEGASUS BIDCO BV                                                                | CUSIP: 000000000<br>LEI: 254900U303DPAFR7MA71 | Long             | LON              | CORP              | NL        |    345638 | PA      | $345422.10    | 0.22%             | 2029-07-12      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                                  | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150BF0<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    600000 | PA      | $593646.28    | 0.38%             | 2039-11-18      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| Planet Fitness Master Issuer L                         | Planet Fitness Master Issuer LLC                                                | CUSIP: 72703PAC7<br>LEI: 549300NX9W3U2DO53T22 | Long             | ABS-O            | CORP              | US        |    388475 | PA      | $368130.56    | 0.24%             | 2049-12-05      | Fixed         | 3.86%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                              | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $216395.74    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Nationstar Mortgage Loan Trust                         | Nationstar Mortgage Loan Trust 2013-A                                           | CUSIP: 63861HAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     26019 | PA      | $24898.13     | 0.02%             | 2052-12-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                               | Republic of South Africa Government International Bond                          | CUSIP: 836205AY0<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    250000 | PA      | $242828.13    | 0.16%             | 2030-06-22      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SANTANDER CONSUMER AUTO RECEIVABLES TRUST 2021-C       | SANTANDER CONSUMER AUTO RECEIVABLES TRUST 2021-C                                | CUSIP: 80281HAD6<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        50 | NS      | $553661.31    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                           | Synopsys Inc                                                                    | CUSIP: 871607AC1<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    700000 | PA      | $707903.67    | 0.46%             | 2030-04-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                | Dryden 55 CLO Ltd                                                               | CUSIP: 26245MAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    277532 | PA      | $277577.13    | 0.18%             | 2031-04-15      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | Freddie Mac STACR Debt Notes 2015-DNA3                                          | CUSIP: 3137G0GZ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    489758 | PA      | $504601.72    | 0.33%             | 2028-04-25      | Floating      | 13.82%                | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GB29<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    500000 | PA      | $506095.23    | 0.33%             | 2030-07-23      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                               | Weatherford International Ltd                                                   | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    650000 | PA      | $644817.03    | 0.42%             | 2030-04-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Emg Utica Midstream Holdings LLC                       | EMG UTICA MIDSTREAM HOLDINGS LLC                                                | CUSIP: 000000000<br>LEI: 254900H5HLPM7ZD1LU54 | Long             | LON              | CORP              | US        |    500000 | PA      | $498750.00    | 0.32%             | 2029-10-24      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND                                | Blackstone Secured Lending Fund                                                 | CUSIP: 09261XAB8<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    625000 | PA      | $604181.10    | 0.39%             | 2026-09-16      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD                                     | Athene Holding Ltd                                                              | CUSIP: 04686JAJ0<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |    500000 | PA      | $481667.56    | 0.31%             | 2054-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 31418EJ76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1361335 | PA      | $1337739.60   | 0.87%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                                     | CNX Resources Corp                                                              | CUSIP: 12653CAL2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    370000 | PA      | $370185.33    | 0.24%             | 2032-03-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| PHILLIPS EDISON GROCERY                                | Phillips Edison Grocery Center Operating Partnership I LP                       | CUSIP: 71845JAA6<br>LEI: 549300WUPIVS6ZE0ZI51 | Long             | DBT              | CORP              | US        |    525000 | PA      | $449307.09    | 0.29%             | 2031-11-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA WTR & SWR AUT                         | District of Columbia Water & Sewer Authority                                    | CUSIP: 254845JZ4<br>LEI: 549300OT2FIJQJ5PSH71 | Long             | DBT              | MUN               | US        |    250000 | PA      | $212685.95    | 0.14%             | 2114-10-01      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                     | Ally Financial Inc                                                              | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    450000 | PA      | $414819.14    | 0.27%             | N/A             | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF UZBEKISTAN                                 | Republic of Uzbekistan International Bond                                       | CUSIP: 91822Q2E6<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |    575000 | PA      | $488038.73    | 0.32%             | 2031-10-19      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                                   | Saudi Arabian Oil Co                                                            | CUSIP: 80414L2Q7<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    600000 | PA      | $553590.00    | 0.36%             | 2064-07-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VAR ENERGI ASA                                         | Var Energi ASA                                                                  | CUSIP: 92212WAE0<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | NO        |    400000 | PA      | $436051.25    | 0.28%             | 2032-11-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                | HCA Inc                                                                         | CUSIP: 404119CA5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    260000 | PA      | $243109.89    | 0.16%             | 2030-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Lin                         | Santander Bank Auto Credit-Linked Notes Series 2022-A                           | CUSIP: 80290CAS3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10181 | PA      | $10181.63     | 0.01%             | 2032-05-15      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.            | 2 YEAR U.S. TREASURY NOTE                                                       | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       222 | NC      | $434693.76    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPAND ENERGY CORP                                     | Expand Energy Corp                                                              | CUSIP: 165167DH7<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    750000 | PA      | $740551.58    | 0.48%             | 2035-01-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| BX Trust                                               | BX Commercial Mortgage Trust 2024-XL5                                           | CUSIP: 05612GAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    648527 | PA      | $641648.53    | 0.42%             | 2041-03-15      | Floating      | 7.01%                 | No            |                  2 | On Loan: No      |
| MOSS CREEK RESOURCES HLD                               | Moss Creek Resources Holdings Inc                                               | CUSIP: 61965RAC9<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |    680000 | PA      | $625853.71    | 0.40%             | 2031-09-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC                                       | VB-S1 Issuer LLC - VBTEL                                                        | CUSIP: 91823ABG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $314939.01    | 0.20%             | 2054-05-15      | Fixed         | 8.87%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Tru                         | OneMain Financial Issuance Trust 2022-2                                         | CUSIP: 68268VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    281041 | PA      | $280895.20    | 0.18%             | 2034-10-14      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST EARTHQUAKE AUTH                          | California Earthquake Authority                                                 | CUSIP: 13017HAP1<br>LEI: 254900P2MGLOUH3QS859 | Long             | DBT              | MUN               | US        |    440000 | PA      | $444513.80    | 0.29%             | 2027-07-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| FIEMEX ENERGIA - BANC AC                               | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple                | CUSIP: 05974EAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    198850 | PA      | $197607.25    | 0.13%             | 2041-01-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                           | UBS Group AG                                                                    | CUSIP: 902613BE7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    750000 | PA      | $840217.50    | 0.54%             | N/A             | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| W & T OFFSHORE INC                                     | W&T Offshore Inc                                                                | CUSIP: 92922PAN6<br>LEI: 549300Q7EOY2YIO3YK85 | Long             | DBT              | CORP              | US        |    425000 | PA      | $335517.02    | 0.22%             | 2029-02-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: —       |
| MIC Glen LLC                                           | MIC GLEN LLC                                                                    | CUSIP: 55304PAG6<br>LEI: 549300XD843A2SP50882 | Long             | LON              | CORP              | US        |    429798 | PA      | $430401.68    | 0.28%             | 2028-07-21      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                                | GLP Capital LP / GLP Financing II Inc                                           | CUSIP: 361841AQ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    550000 | PA      | $510597.78    | 0.33%             | 2031-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NXPT Commercial Mortgage Trust                         | NXPT Commercial Mortgage Trust 2024-STOR                                        | CUSIP: 67119YAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $733738.20    | 0.47%             | 2041-11-05      | Variable      | 4.46%                 | No            |                  2 | On Loan: No      |
| DUQUESNE LIGHT HOLDINGS                                | Duquesne Light Holdings Inc                                                     | CUSIP: 266233AJ4<br>LEI: 4CUJ1D8WDXK9X7QI6B93 | Long             | DBT              | CORP              | US        |    975000 | PA      | $837369.86    | 0.54%             | 2032-01-07      | Fixed         | 2.77%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                   | Cross 2024-H8 Mortgage Trust                                                    | CUSIP: 22757GAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    244019 | PA      | $244825.25    | 0.16%             | 2069-12-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| Bangl LLC                                              | BANGL LLC                                                                       | CUSIP: 05989UAC1<br>LEI: 549300PM5ZCKF0QY2J26 | Long             | LON              | CORP              | US        |    296991 | PA      | $297641.25    | 0.19%             | 2029-02-01      | Floating      | 8.79%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                                 | BP Capital Markets PLC                                                          | CUSIP: 05565QDW5<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    350000 | PA      | $349373.19    | 0.23%             | N/A             | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| ALCOA NEDERLAND HOLDING                                | Alcoa Nederland Holding BV                                                      | CUSIP: 013822AH4<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |    550000 | PA      | $567239.75    | 0.37%             | 2031-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2025-NQM1 Trust                                                             | CUSIP: 673914AC1<br>LEI: 2549007E8KF1RJ2ZV866 | Long             | ABS-MBS          | CORP              | US        |    471548 | PA      | $472943.11    | 0.31%             | 2064-12-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                         | Carlyle Global Market Strategies CLO 2012-4 Ltd                                 | CUSIP: 14309YCA0<br>LEI: 549300R4G5ROMXQ5CG20 | Long             | ABS-CBDO         | CORP              | KY        |    723808 | PA      | $723425.77    | 0.47%             | 2032-04-22      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132D6DK3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    803532 | PA      | $809341.35    | 0.52%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                                | STANDARD INDUSTRIES INC                                                         | CUSIP: 85350EAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    155812 | PA      | $156165.42    | 0.10%             | 2028-09-22      | Floating      | 6.44%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2024-NQM13 Trust                                                            | CUSIP: 67119PAP6<br>LEI: 254900W2SY2Z6X7UAX78 | Long             | ABS-MBS          | CORP              | US        |    426219 | PA      | $424892.41    | 0.27%             | 2064-06-25      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                  | Guatemala Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    590000 | PA      | $584530.70    | 0.38%             | 2026-05-03      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                         | BRAVO Residential Funding Trust 2024-NQM7                                       | CUSIP: 105698AC8<br>LEI: 254900T3YTF92WA96N66 | Long             | ABS-MBS          | CORP              | US        |    406948 | PA      | $408065.99    | 0.26%             | 2064-10-27      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | STACR Trust 2018-HRP2                                                           | CUSIP: 35564ACC3<br>LEI: 549300YG8OJES76WL398 | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $368811.12    | 0.24%             | 2047-02-25      | Floating      | 14.97%                | No            |                  2 | On Loan: No      |
| BrightSpire Capital, Inc                               | BRSP 2021-FL1 Ltd                                                               | CUSIP: 05591XAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    600000 | PA      | $597467.28    | 0.39%             | 2038-08-19      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| AZULE ENERGY FINANCE PLC                               | Azule Energy Finance Plc                                                        | CUSIP: 05501YAA6<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $289260.00    | 0.19%             | 2030-01-23      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| PAYDEN CASH RESERVES MONEY MARKET                      | PAYDEN CASH RESERVES MONEY MARKET                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1519866 | NS      | $1519865.67   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| BX Trust                                               | BX Commercial Mortgage Trust 2024-XL4                                           | CUSIP: 05611VAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    777608 | PA      | $778870.36    | 0.50%             | 2039-02-15      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2024-NQM18 Trust                                                            | CUSIP: 673913AA7<br>LEI: 254900NK9PNLY9I00149 | Long             | ABS-MBS          | CORP              | US        |    229927 | PA      | $230371.57    | 0.15%             | 2064-10-25      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                    | American Express Co                                                             | CUSIP: 025816DK2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    700000 | PA      | $706061.66    | 0.46%             | 2034-07-28      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132D6C57<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    497494 | PA      | $501091.15    | 0.32%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 31418EMT4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    943086 | PA      | $944494.02    | 0.61%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TIERRA MOJADA LUX II SRL                               | Tierra Mojada Luxembourg II Sarl                                                | CUSIP: 30260LAA3<br>LEI: 254900H2U8PBIY32VI94 | Long             | DBT              | CORP              | LU        |    271456 | PA      | $249488.09    | 0.16%             | 2040-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                     | Energy Transfer LP                                                              | CUSIP: 29273VAU4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    600000 | PA      | $632013.84    | 0.41%             | 2033-12-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| PANTHER ESCROW ISSUER                                  | Panther Escrow Issuer LLC                                                       | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $512670.00    | 0.33%             | 2031-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                         | Transocean Inc                                                                  | CUSIP: 893830BZ1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    260000 | PA      | $201221.57    | 0.13%             | 2031-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                                    | Nigeria Government International Bond                                           | CUSIP: 65412JAR4<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    400000 | PA      | $359575.00    | 0.23%             | 2028-09-28      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                        | CVS Health Corp                                                                 | CUSIP: 126650DV9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    700000 | PA      | $635492.47    | 0.41%             | 2053-02-21      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                       | Colt 2025-1 Mortgage Loan Trust                                                 | CUSIP: 196920AC6<br>LEI: 21380069FFOP8RZNF423 | Long             | ABS-MBS          | CORP              | US        |    682306 | PA      | $697988.90    | 0.45%             | 2070-01-25      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA CA RGTS MED                         | Regents of the University of California Medical Center Pooled Revenue           | CUSIP: 913366KV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $583329.25    | 0.38%             | 2032-05-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Regatta XXII Funding Ltd.                              | Regatta XXII Funding Ltd                                                        | CUSIP: 758968AN1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    900000 | PA      | $895760.10    | 0.58%             | 2035-07-20      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QT2Z1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    727896 | PA      | $728957.12    | 0.47%             | 2054-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                              | ONEOK Inc                                                                       | CUSIP: 682680BK8<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    300000 | PA      | $310787.84    | 0.20%             | 2030-11-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                               | Corebridge Financial Inc                                                        | CUSIP: 21871XAH2<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    900000 | PA      | $829410.36    | 0.54%             | 2032-04-05      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                       | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 30711XCR3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |    766729 | PA      | $829951.03    | 0.54%             | 2028-10-25      | Floating      | 16.22%                | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                                      | General Motors Co                                                               | CUSIP: 37045VAZ3<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    550000 | PA      | $545506.59    | 0.35%             | 2032-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                           | UBS Group AG                                                                    | CUSIP: 225401BJ6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    500000 | PA      | $479441.18    | 0.31%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                                     | PBF Holding Co LLC / PBF Finance Corp                                           | CUSIP: 69318FAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $352554.68    | 0.23%             | 2030-03-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: —       |
| Fannie Mae - CAS                                       | Connecticut Avenue Securities Trust 2024-R03                                    | CUSIP: 207941AB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $551083.56    | 0.36%             | 2044-03-25      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                         | Transocean Inc                                                                  | CUSIP: 893830BY4<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    300000 | PA      | $242137.71    | 0.16%             | 2029-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                         | NRG Energy Inc                                                                  | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    800000 | PA      | $799382.80    | 0.52%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                        | IHS Holding Ltd                                                                 | CUSIP: 44963HAC9<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    450000 | PA      | $434922.53    | 0.28%             | 2030-05-29      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| BX Trust                                               | BX Commercial Mortgage Trust 2021-VOLT                                          | CUSIP: 05609VAQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    625000 | PA      | $612792.75    | 0.40%             | 2036-09-15      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                 | Extra Space Storage LP                                                          | CUSIP: 30225VAR8<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |    600000 | PA      | $626828.54    | 0.41%             | 2031-01-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                          | Boeing Co/The                                                                   | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    700000 | PA      | $752417.30    | 0.49%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                               | Graphic Packaging International LLC                                             | CUSIP: 38869PAP9<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    300000 | PA      | $289838.98    | 0.19%             | 2026-04-15      | Fixed         | 1.51%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                                | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2050000 | PA      | $2066015.63   | 1.34%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Payden Cash Reserves Money Market Fund                 | Payden Cash Reserves Money Market Fund                                          | CUSIP: 704329598<br>LEI: 549300SI0EB26HO5RT16 | Long             | STIV             | RF                | US        |   5037014 | NS      | $5037014.15   | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                               | South Bow USA Infrastructure Holdings LLC                                       | CUSIP: 83007CAE2<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    550000 | PA      | $532169.14    | 0.34%             | 2034-10-01      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| LAND O'LAKES INC                                       | Land O' Lakes Inc                                                               | CUSIP: 514666AN6<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |    200000 | PA      | $164000.00    | 0.11%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALGONQUIN PWR & UTILITY                                | Algonquin Power & Utilities Corp                                                | CUSIP: 015857AF2<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |    550000 | PA      | $553713.69    | 0.36%             | 2026-06-15      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                                   | Paraguay Government International Bond                                          | CUSIP: 699149AM2<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    450000 | PA      | $454500.00    | 0.29%             | 2033-08-21      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DPM96<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    733605 | PA      | $747840.51    | 0.48%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BANC CREDITO INVERSIONES                               | Banco de Credito e Inversiones SA                                               | CUSIP: 05890MAC7<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |    350000 | PA      | $362995.50    | 0.23%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                               | Occidental Petroleum Corp                                                       | CUSIP: 674599EL5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    450000 | PA      | $420417.34    | 0.27%             | 2034-10-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| CIFC European Funding                                  | CIFC European Funding CLO II DAC                                                | CUSIP: 000000000<br>LEI: 549300NYQTL91Z5R9B69 | Long             | ABS-CBDO         | CORP              | IE        |    600000 | PA      | $675029.52    | 0.44%             | 2033-04-15      | Floating      | 3.18%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                                | CUSIP: 91282CLF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3750000 | PA      | $3674121.08   | 2.38%             | 2034-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Galaxy CLO Ltd                                         | Galaxy XXII CLO Ltd                                                             | CUSIP: 36320TBD4<br>LEI: 54930022KENWLYJ8SJ86 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $997561.00    | 0.65%             | 2034-04-16      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                            | BNP Paribas SA                                                                  | CUSIP: 09659W2L7<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $249303.64    | 0.16%             | 2026-06-09      | Fixed         | 2.22%                 | No            |                  2 | On Loan: No      |
| WHISTLER PIPELINE LLC                                  | Whistler Pipeline LLC                                                           | CUSIP: 96337RAA0<br>LEI: 549300NG57SGLTNW5C85 | Long             | DBT              | CORP              | US        |    400000 | PA      | $403251.05    | 0.26%             | 2029-09-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | Freddie Mac STACR Debt Notes 2015-HQA1                                          | CUSIP: 3137G0GM5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    494535 | PA      | $496608.40    | 0.32%             | 2028-03-25      | Floating      | 13.27%                | No            |                  2 | On Loan: No      |
| Taurus CMBS                                            | Taurus 2021-1 UK DAC                                                            | CUSIP: 000000000<br>LEI: 635400SG2ZVJCYHITE32 | Long             | ABS-MBS          | CORP              | IE        |    794167 | PA      | $1052365.25   | 0.68%             | 2031-05-17      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SECURITIZATI                         | Golden State Tobacco Securitization Corp                                        | CUSIP: 38122NB50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $433213.73    | 0.28%             | 2034-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3133KPY93<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    536777 | PA      | $530237.91    | 0.34%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BlackRock European CLO DAC                             | Blackrock European CLO VII DAC                                                  | CUSIP: 000000000<br>LEI: 635400IDVZFM7YPKHY80 | Long             | ABS-CBDO         | CORP              | IE        |    700000 | PA      | $789031.61    | 0.51%             | 2031-10-15      | Floating      | 3.58%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                           | Barclays PLC                                                                    | CUSIP: 06738ECF0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $454750.72    | 0.29%             | 2027-05-09      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                               | Neuberger Berman Loan Advisers CLO 36 Ltd                                       | CUSIP: 64133KAY7<br>LEI: 549300MZGBBYK103F794 | Long             | ABS-CBDO         | CORP              | KY        |    450000 | PA      | $448661.70    | 0.29%             | 2033-04-20      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Oak Street Investment Grade Ne                         | Oak Street Investment Grade Net Lease Fund Series 2020-1                        | CUSIP: 67181DAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    248229 | PA      | $239519.08    | 0.15%             | 2050-11-20      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                                     | PBF Holding Co LLC / PBF Finance Corp                                           | CUSIP: 69318FAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    415000 | PA      | $366687.93    | 0.24%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC                                    | Ashtead Capital Inc                                                             | CUSIP: 045054AQ6<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    450000 | PA      | $445578.84    | 0.29%             | 2033-05-30      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                  | Quikrete Holdings Inc                                                           | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    300000 | PA      | $301384.75    | 0.19%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | Freddie Mac STACR Trust 2019-FTR4                                               | CUSIP: 35565GAE7<br>LEI: 549300K0XW5MBR2WNZ55 | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $327825.81    | 0.21%             | 2047-11-25      | Floating      | 9.47%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                    | American Tower Corp                                                             | CUSIP: 03027XAU4<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    560000 | PA      | $546434.97    | 0.35%             | 2029-03-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Ozlme                                                  | Sculptor European CLO V DAC                                                     | CUSIP: 000000000<br>LEI: 6354008AGMENPDXTDJ03 | Long             | ABS-CBDO         | CORP              | IE        |    600000 | PA      | $677036.02    | 0.44%             | 2032-01-14      | Floating      | 4.01%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST POLL CONTROL FIN                         | California Pollution Control Financing Authority                                | CUSIP: 130536RK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245111 | PA      | $39.22        | 0.00%             | 2039-12-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING                          | Pennsylvania Economic Development Financing Authority                           | CUSIP: 70869PFT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $438247.10    | 0.28%             | 2039-06-15      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Veritiv Operating Co                                   | VERITIV OPERATING CO                                                            | CUSIP: 92338TAB2<br>LEI: 5493004G8OK5L1UTIY12 | Long             | LON              | CORP              | US        |    547250 | PA      | $543703.82    | 0.35%             | 2030-11-29      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                           | UBS Group AG                                                                    | CUSIP: 902613BN7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    500000 | PA      | $491955.30    | 0.32%             | N/A             | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S                                        | Danske Bank A/S                                                                 | CUSIP: 23636ABH3<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |    300000 | PA      | $309587.83    | 0.20%             | 2030-03-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                                 | Rockford Tower CLO 2018-2 Ltd                                                   | CUSIP: 77342KAA8<br>LEI: 5493001SZ764RMCNU069 | Long             | ABS-CBDO         | CORP              | KY        |    372000 | PA      | $372040.18    | 0.24%             | 2031-10-20      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                       | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 30711XDB7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |    491769 | PA      | $525969.09    | 0.34%             | 2029-01-25      | Floating      | 14.72%                | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                                   | Matador Resources Co                                                            | CUSIP: 576485AH9<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    450000 | PA      | $425879.24    | 0.28%             | 2033-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                                  | Blue Owl Capital Corp                                                           | CUSIP: 69121KAC8<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    345000 | PA      | $344101.72    | 0.22%             | 2025-07-22      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ADVANTAGE SALES & MARKET                               | Advantage Sales & Marketing Inc                                                 | CUSIP: 00775PAA5<br>LEI: 549300T4O24KQDED1182 | Long             | DBT              | CORP              | US        |    435000 | PA      | $350703.22    | 0.23%             | 2028-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 31418EM23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    191962 | PA      | $195797.32    | 0.13%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                 | Venture Global LNG Inc                                                          | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    350000 | PA      | $362900.28    | 0.23%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                  | Guatemala Government Bond                                                       | CUSIP: 401494AZ2<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    350000 | PA      | $349323.64    | 0.23%             | 2037-02-06      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Lin                         | Santander Bank Auto Credit-Linked Notes Series 2023-A                           | CUSIP: 80290CBX1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     57833 | PA      | $58206.48     | 0.04%             | 2033-06-15      | Fixed         | 10.07%                | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                             | Verus Securitization Trust 2024-9                                               | CUSIP: 92540RAC8<br>LEI: 213800LFRCPWSTP6LX39 | Long             | ABS-MBS          | CORP              | US        |    337198 | PA      | $337504.41    | 0.22%             | 2069-11-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.            | 10 YEAR U.S. TREASURY NOTE                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -40 | NC      | $-89316.40    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3133KPUP1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    698745 | PA      | $687020.44    | 0.44%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2024-NQM17 Trust                                                            | CUSIP: 673911AC7<br>LEI: 254900HMH8TR6ZSMCB34 | Long             | ABS-MBS          | CORP              | US        |    236798 | PA      | $237895.10    | 0.15%             | 2064-11-25      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                           | Centene Corp                                                                    | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    450000 | PA      | $440068.82    | 0.28%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORP                               | Main Street Capital Corp                                                        | CUSIP: 56035LAH7<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |    300000 | PA      | $307156.14    | 0.20%             | 2029-03-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| CPPIB OVM MEMBER US LLC                                | CPPIB OVM MEMBER US LLC                                                         | CUSIP: 12673CAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    248750 | PA      | $247401.99    | 0.16%             | 2031-08-20      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| BX Trust                                               | BX Commercial Mortgage Trust 2021-SOAR                                          | CUSIP: 05608WAN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    263021 | PA      | $260906.39    | 0.17%             | 2038-06-15      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QQKG9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    885857 | PA      | $848186.56    | 0.55%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QPSJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1271639 | PA      | $1190004.84   | 0.77%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                  | Palmer Square CLO 2018-2 Ltd                                                    | CUSIP: 69688MAN5<br>LEI: 549300EYS8N79JYSXL17 | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $700317.80    | 0.45%             | 2037-04-16      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                 | Venture Global LNG Inc                                                          | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    500000 | PA      | $471407.40    | 0.30%             | 2030-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.            | US ULTRA BOND CBT                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        -9 | NC      | $4187.52      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BLUE CROSS BLUE SHIELD M                               | Blue Cross and Blue Shield of Minnesota                                         | CUSIP: 05490LAA7<br>LEI: XHK82HP57BJNZ0CZTH48 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500000.00    | 0.32%             | 2025-05-01      | Fixed         | 3.79%                 | No            |                  2 | On Loan: No      |
| ACWA POWER MGMT INVST                                  | Acwa Power Management And Investments One Ltd                                   | CUSIP: 005117AA4<br>LEI: 635400M3OWQGQBZOYO38 | Long             | DBT              | CORP              | AE        |    612488 | PA      | $610047.73    | 0.39%             | 2039-12-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman Loan Advisers                         | Neuberger Berman Loan Advisers Euro CLO 2 DAC                                   | CUSIP: 000000000<br>LEI: 549300PWQEWJ6XJV7687 | Long             | ABS-CBDO         | CORP              | IE        |    500000 | PA      | $564102.09    | 0.36%             | 2034-04-15      | Floating      | 3.31%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVT SUKUK                                   | Perusahaan Penerbit SBSN Indonesia III                                          | CUSIP: 71567TAB8<br>LEI: 254900G208H6Q0L5B953 | Long             | DBT              | NUSS              | ID        |    700000 | PA      | $703096.14    | 0.45%             | 2034-07-02      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| STORE Master Funding LLC                               | Store Master Funding I-VII XIV XIX XX XXIV XXII                                 | CUSIP: 86212XAM2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    497500 | PA      | $512375.60    | 0.33%             | 2054-05-20      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2024-NQM15 Trust                                                            | CUSIP: 67449DAA7<br>LEI: 254900YXEB756F6RCA13 | Long             | ABS-MBS          | CORP              | US        |    316447 | PA      | $316377.22    | 0.20%             | 2064-10-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                                             | goeasy Ltd                                                                      | CUSIP: 380355AH0<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    700000 | PA      | $733467.00    | 0.47%             | 2028-12-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Voya Euro CLO                                          | Voya Euro CLO III DAC                                                           | CUSIP: 000000000<br>LEI: 635400K38PBPFZARQW28 | Long             | ABS-CBDO         | CORP              | IE        |    299424 | PA      | $336694.47    | 0.22%             | 2033-04-15      | Floating      | 3.20%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                 | Santander Holdings USA Inc                                                      | CUSIP: 80282KBE5<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    775000 | PA      | $777395.43    | 0.50%             | 2026-09-09      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| SHRIRAM FINANCE LTD                                    | Shriram Finance Ltd                                                             | CUSIP: 82556FAA0<br>LEI: 335800TM2YO24B76XL26 | Long             | DBT              | CORP              | IN        |    800000 | PA      | $799018.56    | 0.52%             | 2027-04-22      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.            | US 10YR ULTRA                                                                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       165 | NC      | $361731.15    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHWELL HEALTHCARE INC                               | Northwell Healthcare Inc                                                        | CUSIP: 667274AC8<br>LEI: 54930073NUTKK4QD3P47 | Long             | DBT              | CORP              | US        |    500000 | PA      | $391246.05    | 0.25%             | 2047-11-01      | Fixed         | 4.26%                 | No            |                  2 | On Loan: No      |
| TierPoint Issuer LLC                                   | TierPoint Issuer LLC                                                            | CUSIP: 88651CAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    141667 | PA      | $141957.68    | 0.09%             | 2053-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                    | Synchrony Financial                                                             | CUSIP: 87165BAU7<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    280000 | PA      | $285730.66    | 0.18%             | 2033-02-02      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                               | Ford Motor Credit Co LLC                                                        | CUSIP: 345397D83<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    550000 | PA      | $547048.92    | 0.35%             | 2027-03-05      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| MACQUARIE BANK LTD                                     | Macquarie Bank Ltd                                                              | CUSIP: 556079AD3<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | DBT              | CORP              | AU        |    750000 | PA      | $659715.59    | 0.43%             | 2036-03-03      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| FS Rialto Issuer Ltd                                   | FS RIALTO                                                                       | CUSIP: 30319YAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1050000 | PA      | $1026866.93   | 0.66%             | 2038-05-16      | Floating      | 6.49%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                            | Ivory Coast Government International Bond                                       | CUSIP: 221625AV8<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    500000 | PA      | $462297.98    | 0.30%             | 2036-04-01      | Fixed         | 8.07%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                                                  | CUSIP: 61762V853<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |     40000 | NS      | $1003600.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                                | CUSIP: 91282CGH8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    490000 | PA      | $488880.27    | 0.32%             | 2028-01-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                     | Ally Financial Inc                                                              | CUSIP: 02005NBU3<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    450000 | PA      | $467298.27    | 0.30%             | 2030-01-03      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                        | CDS CDX.NA.HY.44.V1                                                             | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-186573.40   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                       | Duke Energy Corp                                                                | CUSIP: 26441CCF0<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    500000 | PA      | $479695.49    | 0.31%             | 2054-06-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| STELLANTIS FIN US INC                                  | Stellantis Finance US Inc                                                       | CUSIP: 85855CAA8<br>LEI: 549300QZ0AI8Q7LNON33 | Long             | DBT              | CORP              | US        |    800000 | PA      | $756089.34    | 0.49%             | 2027-01-29      | Fixed         | 1.71%                 | No            |                  2 | On Loan: No      |
| FRONTERA ENERGY CORP                                   | Frontera Energy Corp                                                            | CUSIP: 35905BAC1<br>LEI: A25574TZFLBNK7NWQT47 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $262494.19    | 0.17%             | 2028-06-21      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| PALOMINO FUNDING TRUST I                               | Palomino Funding Trust I                                                        | CUSIP: 69754AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $686237.78    | 0.44%             | 2028-05-17      | Fixed         | 7.23%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QPAY3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1038555 | PA      | $971888.85    | 0.63%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                               | Republic of South Africa Government International Bond                          | CUSIP: 836205BA1<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    250000 | PA      | $235910.31    | 0.15%             | 2029-09-30      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| BRIT COL MUNI FIN AUTH                                 | Municipal Finance Authority of British Columbia                                 | CUSIP: 62620DAH4<br>LEI: 549300XJ89QPG8565B79 | Long             | DBT              | NUSS              | CA        |    500000 | PA      | $357554.77    | 0.23%             | 2029-10-09      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| BX Trust                                               | BX Trust 2024-BIO                                                               | CUSIP: 05612AAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    700000 | PA      | $695855.72    | 0.45%             | 2041-02-15      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                                   | Glencore Funding LLC                                                            | CUSIP: 378272BC1<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    725000 | PA      | $506092.78    | 0.33%             | 2051-04-27      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DWES8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    714268 | PA      | $684729.32    | 0.44%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                             | USD/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-92980.96    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| ALAMEDA CNTY CA                                        | County of Alameda CA                                                            | CUSIP: 010878BM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $857776.93    | 0.55%             | 2033-08-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Numericable U.S. LLC                                   | Altice France SA/France                                                         | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |    642777 | PA      | $581231.05    | 0.38%             | 2028-08-15      | Floating      | 9.76%                 | No            |                  2 | On Loan: No      |
| PRA GROUP INC                                          | PRA Group Inc                                                                   | CUSIP: 69354NAF3<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |    400000 | PA      | $412452.15    | 0.27%             | 2030-01-31      | Fixed         | 8.88%                 | No            |                  2 | On Loan: —       |
| M&T BANK CORPORATION                                   | M&T Bank Corp                                                                   | CUSIP: 55261FAU8<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    500000 | PA      | $501169.76    | 0.32%             | 2029-01-16      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132D6EU0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    248592 | PA      | $250283.44    | 0.16%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2024-NQM14 Trust                                                            | CUSIP: 67119XAC8<br>LEI: 254900C7ZCEHM7Y5MX79 | Long             | ABS-MBS          | CORP              | US        |    357771 | PA      | $355655.60    | 0.23%             | 2064-09-25      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                               | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBE2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    525000 | PA      | $359136.36    | 0.23%             | 2052-03-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| KIMMERIDGE TEXAS GAS LLC                               | Kimmeridge Texas Gas LLC                                                        | CUSIP: 49446BAA2<br>LEI: 254900LM244SIFQ1QY31 | Long             | DBT              | CORP              | US        |    350000 | PA      | $336495.01    | 0.22%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Payden Emerging Market Corporate Bond Fund             | Payden Emerging Market Corporate Bond Fund                                      | CUSIP: 704329176<br>LEI: 549300YZ4XY581C25P40 | Long             | EC               | RF                | US        |    101806 | NS      | $882657.75    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                | Hyundai Capital America                                                         | CUSIP: 44891ACR6<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    650000 | PA      | $679111.23    | 0.44%             | 2029-01-16      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                             | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $43758.69     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                 | Clydesdale Acquisition Holdings Inc                                             | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    500000 | PA      | $511658.66    | 0.33%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 31418EJF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1755725 | PA      | $1725745.96   | 1.12%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Zaxby's Funding LLC                                    | Zaxbys Funding LLC                                                              | CUSIP: 98920MAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    635250 | PA      | $583838.96    | 0.38%             | 2051-07-30      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| SURGE ENERGY INC                                       | Surge Energy Inc                                                                | CUSIP: 86880YAD1<br>LEI: 984500714EFC8B46F797 | Long             | DBT              | CORP              | CA        |    220000 | PA      | $157188.45    | 0.10%             | 2029-09-05      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3133KQK47<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1241347 | PA      | $1243904.81   | 0.80%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| C&W SENIOR FINANCE LTD                                 | C&W Senior Finance Ltd                                                          | CUSIP: 12665MAA0<br>LEI: 213800CG16G1YMJRCG10 | Long             | DBT              | CORP              | KY        |    550000 | PA      | $552282.53    | 0.36%             | 2033-01-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                    | Petroleos Mexicanos                                                             | CUSIP: 71654QDB5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    385000 | PA      | $376426.32    | 0.24%             | 2027-01-23      | Fixed         | 6.49%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                                      | Chile Government International Bond                                             | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    550000 | PA      | $641820.90    | 0.42%             | 2034-07-05      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                 | Williams Cos Inc/The                                                            | CUSIP: 969457CN8<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    650000 | PA      | $616878.55    | 0.40%             | 2054-11-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                             | Verus Securitization Trust 2025-1                                               | CUSIP: 92540TAA8<br>LEI: 213800JOKZMXZECMAB50 | Long             | ABS-MBS          | CORP              | US        |    737951 | PA      | $740796.93    | 0.48%             | 2070-01-25      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC                       | USD/GBP FORWARD                                                                 | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-33947.33    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| FLOWERS FOODS INC                                      | Flowers Foods Inc                                                               | CUSIP: 343498AD3<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | DBT              | CORP              | US        |    500000 | PA      | $504847.22    | 0.33%             | 2035-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                              | Sunoco LP                                                                       | CUSIP: 86765KAD1<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    250000 | PA      | $249870.88    | 0.16%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Capital Automotive Reit                                | CARS-DB4 LP                                                                     | CUSIP: 12510HAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    360000 | PA      | $325499.80    | 0.21%             | 2050-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                                    | Braskem Netherlands Finance BV                                                  | CUSIP: 10554TAJ4<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $223250.00    | 0.14%             | 2034-10-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                | Dryden XXVI Senior Loan Fund                                                    | CUSIP: 26250UAY1<br>LEI: 549300ENU7ZZLTPT3E22 | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $377024.00    | 0.24%             | 2029-04-15      | Floating      | 10.06%                | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                                    | CDW LLC / CDW Finance Corp                                                      | CUSIP: 12513GBL2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $343602.00    | 0.22%             | 2034-08-22      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                               | OCP SA                                                                          | CUSIP: 67091TAH8<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    250000 | PA      | $250414.18    | 0.16%             | 2030-04-30      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                | Jane Street Group / JSG Finance Inc                                             | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $590261.82    | 0.38%             | 2032-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CIA DE MINAS BUENAVENTUR                               | Cia de Minas Buenaventura SAA                                                   | CUSIP: 204448AB0<br>LEI: 529900WQB1ZU9KB6EL71 | Long             | DBT              | CORP              | PE        |    250000 | PA      | $248752.50    | 0.16%             | 2032-02-04      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Payden Emerging Markets Local Bond Fund                | Payden Emerging Markets Local Bond Fund                                         | CUSIP: 70432T867<br>LEI: 549300ZRY78UEWJB7K76 | Long             | EC               | RF                | US        |    394191 | NS      | $1825103.73   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-23

**Name of Applicant:** PAYDEN & RYGEL INVESTMENT GROUP

**Signature:** Sandi Brents

**Name of Signer:** Sandi Brents

**Title:** Compliance Officer