# EDGAR Filing Document

**Accession Number:** 0001426439
**File Stem:** 0000940400-26-011518
**Filing Date:** 2026-3
**Character Count:** 437376
**Document Hash:** 297e483005254a3b14abdd00e88008f3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-011518.hdr.sgml**: 20260325

**ACCESSION NUMBER**: 0000940400-26-011518

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260325

**DATE AS OF CHANGE**: 20260325

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** New York Life Investments Active ETF Trust
- **CENTRAL INDEX KEY:** 0001426439

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22739
- **FILM NUMBER:** 26792935

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** (212) 576-5018

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NYLI MacKay Core Plus Bond ETF
- **DATE OF NAME CHANGE:** 20241203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** New York Life Investments Active ETF Trust
- **DATE OF NAME CHANGE:** 20240822

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IndexIQ Active ETF Trust
- **DATE OF NAME CHANGE:** 20080207

## Series and Classes Contracts Data

### NYLI MacKay Core Plus Bond ETF (Series ID: S000071156)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000225893 | NYLI MacKay Core Plus Bond ETF | CPLB            |

## Nport-Ex

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Long-Term Bonds — 98.0%** | **Long-Term Bonds — 98.0%** | **Long-Term Bonds — 98.0%** |
| **Bank Loans — 0.9%** |  |  |
| **Auto Parts & Equipment — 0.1%** |  |  |
| Clarios Global LP First Lien Amendment No. 6 Dollar Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;6.417%, (1 Month CME SOFR + 2.75%), due 1/28/32<sup>(a)</sup> | $99750 | $99812 |
| RealTruck Group, Inc. Second Amendment Incremental Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;8.775%, (1 Month CME SOFR + 5.00%), due 1/31/28<sup>(a)</sup> | 248489 | 192425 |
|  |  | 292237 |
| **Commercial Services — 0.0%<sup>(b)</sup>** |  |  |
| Camelot US Acquisition LLC Amendment No. 7 Incremental Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;6.917%, (1 Month CME SOFR + 3.25%), due 1/31/31<sup>(a)</sup> | 100000 | 94333 |
| **Computers — 0.1%** |  |  |
| Amentum Holdings, Inc. Initial Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;5.917%, (1 Month CME SOFR + 2.00%), due 9/29/31<sup>(a)</sup> | 199375 | 199425 |
| **Diversified Financial Services — 0.0%<sup>(b)</sup>** |  |  |
| Aretec Group, Inc. Term B-4 Loan |  |  |
| &nbsp;&nbsp;&nbsp;6.667%, (1 Month CME SOFR + 3.00%), due 8/9/30<sup>(a)</sup> | 99499 | 99143 |
| **Electric — 0.2%** |  |  |
| Talen Energy Supply, LLC 2024-1 Incremental Term B Loan |  |  |
| &nbsp;&nbsp;&nbsp;6.160%, (3 Month CME SOFR + 2.50%), due 12/15/31<sup>(a)</sup> | 544500 | 544500 |
| **Food — 0.0%<sup>(b)</sup>** |  |  |
| C&S Wholesale Grocers, LLC Initial Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;8.667%, (1 Month CME SOFR + 5.00%), due 9/20/30<sup>(a)</sup> | 99750 | 97256 |
| **Internet — 0.0%<sup>(b)</sup>** |  |  |
| Arches Buyer, Inc. Refinancing Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;7.017%, (1 Month SOFR + 3.25%), due 12/6/27<sup>(a)</sup> | 99217 | 98795 |
| **Machinery-Diversified — 0.1%** |  |  |
| TK Elevator U.S. Newco, Inc., Facility B |  |  |
| &nbsp;&nbsp;&nbsp;6.673%, (1 Month CME SOFR + 2.75%), due 4/30/30<sup>(a)</sup> | 198504 | 198752 |
| **Media — 0.0%<sup>(b)</sup>** |  |  |
| Gray Television, Inc. Term D Loan |  |  |
| &nbsp;&nbsp;&nbsp;6.782%, (1 Month CME SOFR + 3.00%), due 12/1/28<sup>(a)</sup> | 53391 | 53044 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Bank Loans (continued)** |  |  |
| **Mining — 0.1%** |  |  |
| American Rock Salt Co., LLC Initial Loan (First Lien) |  |  |
| &nbsp;&nbsp;&nbsp;7.998%, (3 Month CME SOFR + 4.00%), due 6/9/28<sup>(a)</sup> | $197416 | $166652 |
| **Pharmaceuticals — 0.0%<sup>(b)</sup>** |  |  |
| 1261229 B.C. Ltd. Initial Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;9.918%, (1 Month CME SOFR + 6.25%), due 10/8/30<sup>(a)</sup> | 100000 | 97375 |
| **Pipelines — 0.0%<sup>(b)</sup>** |  |  |
| New Fortress Energy, Inc. Second Amendment Incremental Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;9.273%, (3 Month CME SOFR + 5.50%), due 10/30/28<sup>(a)</sup> | 198749 | 75856 |
| **Retail — 0.2%** |  |  |
| Great Outdoors Group, LLC Term B-3 Loan |  |  |
| &nbsp;&nbsp;&nbsp;6.917%, (1 Month CME SOFR + 3.25%), due 1/23/32<sup>(a)</sup> | 495000 | 495000 |
| **Software — 0.1%** |  |  |
| Cloud Software Group, Inc. Tenth Amendment Tranche B-1 Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;6.903%, (3 Month CME SOFR + 3.25%), due 8/13/32<sup>(a)</sup> | 124688 | 120324 |
| **Transportation — 0.0%<sup>(b)</sup>** |  |  |
| NA Rail Hold Co., LLC Tranche B-3 Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;6.738%, (3 Month CME SOFR + 3.00%), due 3/8/32<sup>(a)</sup> | 99500 | 99593 |
| **Total Bank Loans** |  |  |
| &nbsp;&nbsp;**(Cost $2,901,721)** |  | 2732285 |
| **Collateralized Loan Obligations — 1.9%** |  |  |
| AGL CLO 17 Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2022-17A BR |  |  |
| &nbsp;&nbsp;&nbsp;5.070%, (3 Month CME SOFR + 1.40%), due 1/21/35<sup>(a)</sup> | 700000 | 700155 |
| BCC Middle Market CLO LLC |  |  |
| &nbsp;&nbsp;Series 2025-1A A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.290%, (3 Month CME SOFR + 1.62%), due 7/17/37<sup>(a)</sup> | 435000 | 437126 |
| Blackrock Rainier CLO VI Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2021-6A A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.218%, (3 Month CME SOFR + 1.55%), due 4/20/37<sup>(a)</sup> | 400000 | 401348 |
| Diameter Capital CLO 5 Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2023-5A A1R |  |  |
| &nbsp;&nbsp;&nbsp;4.912%, (3 Month CME SOFR + 1.24%), due 1/15/39<sup>(a)</sup> | 700000 | 701990 |
| Fortress Credit Opportunities XXI CLO LLC |  |  |
| &nbsp;&nbsp;Series 2023-21A A1TR |  |  |
| &nbsp;&nbsp;&nbsp;5.240%, (3 Month CME SOFR + 1.57%), due 1/21/37<sup>(a)</sup> | 600000 | 601857 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Collateralized Loan Obligations (continued)** |  |  |
| Golub Capital CLO 86B Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2026-86A C |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (3 Month CME SOFR + 1.70%), due 1/25/39<sup>(a)</sup> | $300000 | $300000 |
| Golub Capital Partners CLO 49M Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2020-49A A2R2 |  |  |
| &nbsp;&nbsp;&nbsp;5.348%, (3 Month CME SOFR + 1.68%), due 7/20/38<sup>(a)</sup> | 750000 | 750991 |
| Golub Capital Partners CLO 78M |  |  |
| &nbsp;&nbsp;Series 2025-78A A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.050%, (3 Month CME SOFR + 1.38%), due 4/21/39<sup>(a)</sup> | 600000 | 601568 |
| Great Lakes CLO Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2019-1A ARR |  |  |
| &nbsp;&nbsp;&nbsp;5.152%, (3 Month CME SOFR + 1.48%), due 4/15/37<sup>(a)</sup> | 515000 | 516371 |
| Sixth Street CLO XIV Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2019-14A A1R2 |  |  |
| &nbsp;&nbsp;&nbsp;4.820%, (3 Month CME SOFR + 1.15%), due 1/20/38<sup>(a)</sup> | 700000 | 700326 |
| **Total Collateralized Loan Obligations** |  |  |
| &nbsp;&nbsp;**(Cost $5,697,725)** |  | 5711732 |
| **Collateralized Mortgage Obligations — 6.4%** |  |  |
| **Mortgage Securities — 6.4%** |  |  |
| Agate Bay Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2015-5 B3 |  |  |
| &nbsp;&nbsp;&nbsp;3.574%, due 7/25/45<sup>(a)(c)</sup> | 132536 | 107863 |
| BRAVO Residential Funding Trust |  |  |
| &nbsp;&nbsp;Series 2024-NQM8 A1A |  |  |
| &nbsp;&nbsp;4.300%, due 8/1/53 | 286428 | 284008 |
| CHL Mortgage Pass-Through Trust |  |  |
| &nbsp;&nbsp;Series 2005-9 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.387%, (1 Month CME SOFR + 0.71%), due 5/25/35<sup>(a)</sup> | 33319 | 29766 |
| Citigroup Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;Series 2025-4 A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 10/25/55<sup>(a)(c)</sup> | 383505 | 385887 |
| Connecticut Avenue Securities |  |  |
| &nbsp;&nbsp;Series 2025-R01 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;5.397%, (1 Month SOFR + 1.70%), due 1/25/45<sup>(a)</sup> | 770000 | 767600 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Collateralized Mortgage Obligations (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| Connecticut Avenue Securities Trust |  |  |
| &nbsp;&nbsp;Series 2019-HRP1 B1 |  |  |
| &nbsp;&nbsp;&nbsp;13.062%, (1 Month SOFR + 9.36%), due 11/25/39<sup>(a)</sup> | $592085 | $625072 |
| &nbsp;&nbsp;Series 2020-SBT1 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;10.562%, (1 Month SOFR + 6.86%), due 2/25/40<sup>(a)</sup> | 1050000 | 1102175 |
| &nbsp;&nbsp;Series 2021-R03 1B2 |  |  |
| &nbsp;&nbsp;&nbsp;9.197%, (1 Month SOFR + 5.50%), due 12/25/41<sup>(a)</sup> | 485000 | 500950 |
| &nbsp;&nbsp;Series 2022-R01 1B2 |  |  |
| &nbsp;&nbsp;&nbsp;9.697%, (1 Month SOFR + 6.00%), due 12/25/41<sup>(a)</sup> | 425000 | 441016 |
| &nbsp;&nbsp;Series 2022-R02 2B2 |  |  |
| &nbsp;&nbsp;&nbsp;11.347%, (1 Month SOFR + 7.65%), due 1/25/42<sup>(a)</sup> | 490000 | 518039 |
| &nbsp;&nbsp;Series 2022-R07 1M2 |  |  |
| &nbsp;&nbsp;&nbsp;8.347%, (1 Month SOFR + 4.65%), due 6/25/42<sup>(a)</sup> | 100000 | 105036 |
| &nbsp;&nbsp;Series 2022-R08 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;9.297%, (1 Month SOFR + 5.60%), due 7/25/42<sup>(a)</sup> | 865000 | 919607 |
| &nbsp;&nbsp;Series 2023-R03 2M2 |  |  |
| &nbsp;&nbsp;&nbsp;7.597%, (1 Month SOFR + 3.90%), due 4/25/43<sup>(a)</sup> | 275000 | 289924 |
| &nbsp;&nbsp;Series 2023-R07 2M2 |  |  |
| &nbsp;&nbsp;&nbsp;6.947%, (1 Month SOFR + 3.25%), due 9/25/43<sup>(a)</sup> | 540000 | 558720 |
| &nbsp;&nbsp;Series 2024-R02 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;6.197%, (1 Month SOFR + 2.50%), due 2/25/44<sup>(a)</sup> | 220000 | 225275 |
| &nbsp;&nbsp;Series 2024-R03 2M2 |  |  |
| &nbsp;&nbsp;&nbsp;5.647%, (1 Month SOFR + 1.95%), due 3/25/44<sup>(a)</sup> | 200000 | 202121 |
| &nbsp;&nbsp;Series 2024-R05 2B1 |  |  |
| &nbsp;&nbsp;&nbsp;5.697%, (1 Month SOFR + 2.00%), due 7/25/44<sup>(a)</sup> | 1340000 | 1340843 |
| GS Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;Series 2023-PJ1 A4 |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, due 2/25/53<sup>(a)(c)</sup> | 449644 | 410700 |
| HarborView Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;Series 2005-2 2A1A |  |  |
| &nbsp;&nbsp;&nbsp;4.230%, (1 Month CME SOFR + 0.55%), due 5/19/35<sup>(a)</sup> | 54127 | 52635 |
| J.P. Morgan Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2021-4 B1 |  |  |
| &nbsp;&nbsp;&nbsp;2.879%, due 8/25/51<sup>(a)(c)</sup> | 1415643 | 1197555 |
| &nbsp;&nbsp;Series 2022-1 B3 |  |  |
| &nbsp;&nbsp;&nbsp;3.085%, due 7/25/52<sup>(a)(c)</sup> | 719964 | 593910 |
| &nbsp;&nbsp;Series 2024-INV1 A4 |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, due 4/25/55<sup>(a)(c)</sup> | 406878 | 413340 |
| J.P. Morgan Mortgage Trust Series 2025-NQM4 |  |  |
| &nbsp;&nbsp;Series 2025-NQM4 A1F |  |  |
| &nbsp;&nbsp;&nbsp;4.897%, (1 Month SOFR + 1.20%), due 3/25/66<sup>(a)</sup> | 458570 | 459475 |
| Mill City Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;Series 2018-3 B2 |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, due 8/25/58<sup>(a)(c)</sup> | 1092671 | 845148 |
| Mill City Mortgage Loan Trust 2018-3 |  |  |
| &nbsp;&nbsp;Series 2018-3 B1 |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, due 8/25/58<sup>(a)(c)</sup> | 406134 | 343884 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Collateralized Mortgage Obligations (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| Multifamily Connecticut Avenue Securities Trust |  |  |
| &nbsp;&nbsp;Series 2020-01 CE |  |  |
| &nbsp;&nbsp;&nbsp;11.312%, (1 Month SOFR + 7.61%), due 3/25/50<sup>(a)</sup> | $200000 | $206805 |
| OBX Trust |  |  |
| &nbsp;&nbsp;Series 2019-INV2 A5 |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 5/27/49<sup>(a)(c)</sup> | 237902 | 224259 |
| &nbsp;&nbsp;Series 2022-J1 A14 |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 2/25/52<sup>(a)(c)</sup> | 729160 | 608393 |
| RCKT Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2021-5 A1 |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 11/25/51<sup>(a)(c)</sup> | 4219738 | 3541943 |
| STACR Trust |  |  |
| &nbsp;&nbsp;Series 2018-HRP1 B2 |  |  |
| &nbsp;&nbsp;&nbsp;15.562%, (1 Month SOFR + 11.86%), due 5/25/43<sup>(a)</sup> | 397397 | 468304 |
| UWM Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2021-INV5 A14 |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 1/25/52<sup>(a)(c)</sup> | 837965 | 727065 |
| Verus Securitization Trust 2025-R2 |  |  |
| &nbsp;&nbsp;Series 2025-R2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.086%, due 7/25/67<sup>(a)(c)</sup> | 621277 | 626003 |
| WaMu Mortgage Pass-Through Certificates Trust |  |  |
| &nbsp;&nbsp;Series 2004-AR13 A2B |  |  |
| &nbsp;&nbsp;&nbsp;4.667%, (1 Month CME SOFR + 0.99%), due 11/25/34<sup>(a)</sup> | 34007 | 33167 |
| **Total Collateralized Mortgage Obligations** |  |  |
| &nbsp;&nbsp;**(Cost $19,045,736)** |  | 19156488 |
| **Commercial Asset-Backed Securities — 7.8%** |  |  |
| **Asset Backed Securities — 7.8%** |  |  |
| Ally Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;Series 2024-B G |  |  |
| &nbsp;&nbsp;11.395%, due 9/15/32 | 445097 | 457115 |
| Ares Loan Funding IX Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2025-ALF9A A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.072%, (3 Month CME SOFR + 1.40%), due 3/31/38<sup>(a)</sup> | 600000 | 601007 |
| Bayview Opportunity Master Fund VII LLC |  |  |
| &nbsp;&nbsp;Series 2024-EDU1 C |  |  |
| &nbsp;&nbsp;&nbsp;5.497%, (1 Month SOFR + 1.80%), due 6/25/47<sup>(a)</sup> | 299481 | 298983 |
| Bridgecrest Lending Auto Securitization Trust |  |  |
| &nbsp;&nbsp;Series 2024-1 D |  |  |
| &nbsp;&nbsp;6.030%, due 11/15/29 | 1500000 | 1529496 |
| &nbsp;&nbsp;Series 2025-3 E |  |  |
| &nbsp;&nbsp;6.620%, due 5/17/32 | 775000 | 781195 |
| Carmax Select Receivables Trust 2025-B |  |  |
| &nbsp;&nbsp;Series 2025-B E |  |  |
| &nbsp;&nbsp;6.890%, due 9/15/32 | 605000 | 613991 |
| CF Hippolyta Issuer LLC |  |  |
| &nbsp;&nbsp;Series 2020-1 A2 |  |  |
| &nbsp;&nbsp;1.990%, due 7/15/60 | 535058 | 449354 |
| &nbsp;&nbsp;Series 2020-1 B1 |  |  |
| &nbsp;&nbsp;2.280%, due 7/15/60 | 845485 | 532736 |
| &nbsp;&nbsp;Series 2020-1 B2 |  |  |
| &nbsp;&nbsp;2.600%, due 7/15/60 | 512688 | 325523 |
| &nbsp;&nbsp;Series 2021-1A B1 |  |  |
| &nbsp;&nbsp;1.980%, due 3/15/61 | 362842 | 221658 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Commercial Asset-Backed Securities (continued)** |  |  |
| **Asset Backed Securities (continued)** |  |  |
| Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC |  |  |
| &nbsp;&nbsp;Series 2025-4A A2 |  |  |
| &nbsp;&nbsp;5.522%, due 12/20/55 | $515000 | $521467 |
| Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;Series 2022-2A E |  |  |
| &nbsp;&nbsp;6.340%, due 10/15/29 | 615000 | 600674 |
| &nbsp;&nbsp;Series 2023-4A D |  |  |
| &nbsp;&nbsp;6.950%, due 12/17/29 | 260000 | 265427 |
| &nbsp;&nbsp;Series 2025-3A D |  |  |
| &nbsp;&nbsp;5.570%, due 10/15/31 | 225000 | 229547 |
| &nbsp;&nbsp;Series 2025-4A E |  |  |
| &nbsp;&nbsp;6.990%, due 4/15/33 | 440000 | 445006 |
| Flagship Credit Auto Trust |  |  |
| &nbsp;&nbsp;Series 2021-3 E |  |  |
| &nbsp;&nbsp;3.320%, due 12/15/28 | 890000 | 820070 |
| &nbsp;&nbsp;Series 2022-1 D |  |  |
| &nbsp;&nbsp;3.640%, due 3/15/28 | 780000 | 757564 |
| &nbsp;&nbsp;Series 2022-2 D |  |  |
| &nbsp;&nbsp;5.800%, due 4/17/28 | 784000 | 704556 |
| Ford Credit Auto Owner Trust |  |  |
| &nbsp;&nbsp;Series 2023-1 D |  |  |
| &nbsp;&nbsp;6.260%, due 8/15/35 | 425000 | 435412 |
| GLS Auto Receivables Issuer Trust |  |  |
| &nbsp;&nbsp;Series 2022-3A E |  |  |
| &nbsp;&nbsp;8.350%, due 10/15/29 | 425000 | 438052 |
| &nbsp;&nbsp;Series 2024-3A D |  |  |
| &nbsp;&nbsp;5.530%, due 2/18/31 | 660000 | 669648 |
| Hertz Vehicle Financing III LLC |  |  |
| &nbsp;&nbsp;Series 2025-6A A |  |  |
| &nbsp;&nbsp;4.890%, due 5/25/32 | 735000 | 741017 |
| Home Partners of America |  |  |
| &nbsp;&nbsp;Series 2021-2 B |  |  |
| &nbsp;&nbsp;2.302%, due 12/17/26 | 95950 | 94135 |
| HPEFS Equipment Trust |  |  |
| &nbsp;&nbsp;Series 2024-1A D |  |  |
| &nbsp;&nbsp;5.820%, due 11/20/31 | 260000 | 263134 |
| Kinetic ABS Issuer LLC |  |  |
| &nbsp;&nbsp;Series 2026-1A A2 |  |  |
| &nbsp;&nbsp;5.219%, due 2/25/56 | 580000 | 580363 |
| LAD Auto Receivables Trust |  |  |
| &nbsp;&nbsp;Series 2024-3A D |  |  |
| &nbsp;&nbsp;5.180%, due 2/17/32 | 885000 | 893095 |
| Magnetite 50 Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2025-50A A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.948%, (3 Month CME SOFR + 1.28%), due 7/25/38<sup>(a)</sup> | 650000 | 651644 |
| New Economy Assets Phase 1 Sponsor LLC |  |  |
| &nbsp;&nbsp;Series 2021-1 A1 |  |  |
| &nbsp;&nbsp;1.910%, due 10/20/61 | 420000 | 352744 |
| &nbsp;&nbsp;Series 2021-1 B1 |  |  |
| &nbsp;&nbsp;2.410%, due 10/20/61 | 865000 | 545960 |
| OneMain Direct Auto Receivables Trust |  |  |
| &nbsp;&nbsp;Series 2019-1A D |  |  |
| &nbsp;&nbsp;4.680%, due 4/14/31 | 385000 | 384620 |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;Series 2025-SFR3 D |  |  |
| &nbsp;&nbsp;3.390%, due 7/17/42 | 540000 | 497414 |
| QTS Issuer ABS II LLC |  |  |
| &nbsp;&nbsp;Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;5.044%, due 10/5/55 | 550000 | 547410 |
| &nbsp;&nbsp;Series 2026-3A A2 |  |  |
| &nbsp;&nbsp;6.156%, due 1/5/56 | 545000 | 545011 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Commercial Asset-Backed Securities (continued)** |  |  |
| **Asset Backed Securities (continued)** |  |  |
| RIN V LLC |  |  |
| &nbsp;&nbsp;Series 2023-2A A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.007%, (3 Month CME SOFR + 1.34%), due 10/14/36<sup>(a)</sup> | $650000 | $649985 |
| Santander Drive Auto Receivables Trust 2025-1 |  |  |
| &nbsp;&nbsp;Series 2025-1 D |  |  |
| &nbsp;&nbsp;5.430%, due 3/17/31 | 430000 | 438474 |
| Shentel Issuer LLC |  |  |
| &nbsp;&nbsp;Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;5.640%, due 12/20/55 | 565000 | 574005 |
| Subway Funding LLC |  |  |
| &nbsp;&nbsp;Series 2024-1A A2I |  |  |
| &nbsp;&nbsp;6.028%, due 7/30/54 | 651750 | 660338 |
| &nbsp;&nbsp;Series 2024-3A A2II |  |  |
| &nbsp;&nbsp;5.566%, due 7/30/54 | 399938 | 397944 |
| Tricon American Homes |  |  |
| &nbsp;&nbsp;Series 2020-SFR1 A |  |  |
| &nbsp;&nbsp;1.499%, due 7/17/38 | 267363 | 263842 |
| Tricon Residential 2024-SFR4 Trust |  |  |
| &nbsp;&nbsp;Series 2024-SFR4 A |  |  |
| &nbsp;&nbsp;4.300%, due 11/17/41 | 490822 | 486972 |
| Wendy's Funding LLC |  |  |
| &nbsp;&nbsp;Series 2018-1A A2II |  |  |
| &nbsp;&nbsp;3.884%, due 3/15/48 | 404679 | 399327 |
| Zayo Issuer LLC |  |  |
| &nbsp;&nbsp;Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;5.648%, due 3/20/55 | 840000 | 855428 |
| &nbsp;&nbsp;Series 2025-3A A2 |  |  |
| &nbsp;&nbsp;5.570%, due 10/20/55 | 710000 | 714458 |
| **Total Commercial Asset-Backed Securities** |  |  |
| &nbsp;&nbsp;**(Cost $23,849,489)** |  | 23235801 |
| **Commercial Mortgage-Backed Securities — 8.5%** |  |  |
| **Mortgage Securities — 8.5%** |  |  |
| BAMLL Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;Series 2016-ISQ A |  |  |
| &nbsp;&nbsp;2.848%, due 8/14/34 | 735000 | 610969 |
| BANK |  |  |
| &nbsp;&nbsp;Series 2017-BNK7 C |  |  |
| &nbsp;&nbsp;&nbsp;3.972%, due 9/15/60<sup>(a)(c)</sup> | 245000 | 220903 |
| &nbsp;&nbsp;Series 2019-BN19 C |  |  |
| &nbsp;&nbsp;&nbsp;4.031%, due 8/15/61<sup>(a)(c)</sup> | 490000 | 362371 |
| &nbsp;&nbsp;Series 2019-BN20 C |  |  |
| &nbsp;&nbsp;&nbsp;3.650%, due 9/15/62<sup>(a)(c)</sup> | 130000 | 100553 |
| &nbsp;&nbsp;Series 2020-BN25 D |  |  |
| &nbsp;&nbsp;2.500%, due 1/15/63 | 1390000 | 1094585 |
| Bank of America Merrill Lynch Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2016-UB10 D |  |  |
| &nbsp;&nbsp;3.000%, due 7/15/49 | 640000 | 557019 |
| Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2018-B3 C |  |  |
| &nbsp;&nbsp;&nbsp;4.545%, due 4/10/51<sup>(a)(c)</sup> | 550000 | 484565 |
| &nbsp;&nbsp;Series 2019-B11 A5 |  |  |
| &nbsp;&nbsp;3.542%, due 5/15/52 | 315000 | 306495 |
| &nbsp;&nbsp;Series 2019-B14 C |  |  |
| &nbsp;&nbsp;&nbsp;3.778%, due 12/15/62<sup>(a)(c)</sup> | 450000 | 318667 |
| &nbsp;&nbsp;Series 2019-B9 C |  |  |
| &nbsp;&nbsp;&nbsp;4.971%, due 3/15/52<sup>(a)(c)</sup> | 1050000 | 921843 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Commercial Mortgage-Backed Securities (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| BFLD Commercial Mortgage Trust 2025-5MW |  |  |
| &nbsp;&nbsp;Series 2025-5MW A |  |  |
| &nbsp;&nbsp;&nbsp;4.674%, due 10/10/42<sup>(a)(c)</sup> | $595000 | $594712 |
| &nbsp;&nbsp;Series 2025-5MW C |  |  |
| &nbsp;&nbsp;&nbsp;5.451%, due 10/10/42<sup>(a)(c)</sup> | 500000 | 504560 |
| BMO Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2022-C1 111A |  |  |
| &nbsp;&nbsp;&nbsp;3.269%, due 2/17/55<sup>(a)(c)</sup> | 840000 | 789319 |
| BX Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2024-BRBK D |  |  |
| &nbsp;&nbsp;&nbsp;9.648%, (1 Month CME SOFR + 5.97%), due 10/15/41<sup>(a)</sup> | 495000 | 496856 |
| BX Commercial Mortgage Trust 2024-VLT5 |  |  |
| &nbsp;&nbsp;Series 2024-VLT5 E |  |  |
| &nbsp;&nbsp;&nbsp;8.134%, due 11/13/46<sup>(a)(c)</sup> | 555000 | 596184 |
| BX Trust 2025-ARIA |  |  |
| &nbsp;&nbsp;Series 2025-ARIA B |  |  |
| &nbsp;&nbsp;&nbsp;5.177%, due 12/13/42<sup>(a)(c)</sup> | 790000 | 799644 |
| BX Trust 2025-VLT7 |  |  |
| &nbsp;&nbsp;Series 2025-VLT7 C |  |  |
| &nbsp;&nbsp;&nbsp;6.030%, (1 Month CME SOFR + 2.35%), due 7/15/44<sup>(a)</sup> | 585000 | 587559 |
| CD Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2017-CD4 D |  |  |
| &nbsp;&nbsp;3.300%, due 5/10/50 | 495000 | 434950 |
| CFCRE Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2016-C3 D |  |  |
| &nbsp;&nbsp;&nbsp;3.052%, due 1/10/48<sup>(a)(c)</sup> | 540000 | 523800 |
| CFCRE Commercial Mortgage Trust 2016-C4 |  |  |
| &nbsp;&nbsp;Series 2016-C4 D |  |  |
| &nbsp;&nbsp;&nbsp;4.765%, due 5/10/58<sup>(a)(c)</sup> | 617007 | 601312 |
| CFK Trust |  |  |
| &nbsp;&nbsp;Series 2020-MF2 E |  |  |
| &nbsp;&nbsp;&nbsp;3.458%, due 3/15/39<sup>(a)(c)</sup> | 775000 | 589166 |
| Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2018-B2 D |  |  |
| &nbsp;&nbsp;&nbsp;3.145%, due 3/10/51<sup>(a)(c)</sup> | 1420000 | 1081266 |
| COMM 2014-CCRE20 Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2014-CR20 D |  |  |
| &nbsp;&nbsp;3.222%, due 11/10/47 | 390000 | 287134 |
| COMM 2018-HCLV Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2018-HCLV A |  |  |
| &nbsp;&nbsp;&nbsp;4.976%, (1 Month CME SOFR + 1.30%), due 9/15/33<sup>(a)</sup> | 500000 | 461489 |
| COMM Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2016-DC2 D |  |  |
| &nbsp;&nbsp;&nbsp;3.882%, due 2/10/49<sup>(a)(c)</sup> | 1260000 | 1147559 |
| Durst Commercial Mortgage Trust 2025-151 |  |  |
| &nbsp;&nbsp;Series 2025-151 D |  |  |
| &nbsp;&nbsp;&nbsp;7.018%, due 8/10/42<sup>(a)(c)</sup> | 655000 | 674629 |
| Extended Stay America Trust 2026-ESH2 |  |  |
| &nbsp;&nbsp;Series 2026-ESH2 D |  |  |
| &nbsp;&nbsp;&nbsp;5.920%, (1 Month CME SOFR + 2.25%), due 2/15/43<sup>(a)</sup> | 580000 | 583988 |
| Freddie Mac Multifamily Structured Credit Risk |  |  |
| &nbsp;&nbsp;Series 2024-MN9 M2 |  |  |
| &nbsp;&nbsp;&nbsp;6.947%, (1 Month SOFR + 3.25%), due 10/25/44<sup>(a)</sup> | 780000 | 792172 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Commercial Mortgage-Backed Securities (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| GS Mortgage Securities Corp. Trust |  |  |
| &nbsp;&nbsp;Series 2012-BWTR A |  |  |
| &nbsp;&nbsp;2.954%, due 11/5/34 | $518967 | $461362 |
| &nbsp;&nbsp;Series 2017-GPTX A |  |  |
| &nbsp;&nbsp;2.856%, due 5/10/34 | 513367 | 454322 |
| GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;Series 2015-GC30 B |  |  |
| &nbsp;&nbsp;&nbsp;3.998%, due 5/10/50<sup>(a)(c)</sup> | 229559 | 222638 |
| J.P. Morgan Chase Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;Series 2021-1440 A |  |  |
| &nbsp;&nbsp;&nbsp;5.095%, (1 Month CME SOFR + 1.41%), due 3/15/36<sup>(a)</sup> | 525000 | 493797 |
| JPMCC Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;Series 2019-COR5 D |  |  |
| &nbsp;&nbsp;3.000%, due 6/13/52 | 155000 | 121055 |
| MFT Trust |  |  |
| &nbsp;&nbsp;Series 2020-ABC B |  |  |
| &nbsp;&nbsp;&nbsp;3.477%, due 2/10/42<sup>(a)(c)</sup> | 380000 | 304119 |
| Morgan Stanley Bank of America Merrill Lynch Trust 2015-C22 |  |  |
| &nbsp;&nbsp;Series 2015-C22 D |  |  |
| &nbsp;&nbsp;&nbsp;3.973%, due 4/15/48<sup>(a)(c)</sup> | 900000 | 508590 |
| Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;Series 2014-150E A |  |  |
| &nbsp;&nbsp;3.912%, due 9/9/32 | 1050000 | 985740 |
| &nbsp;&nbsp;Series 2015-420 A |  |  |
| &nbsp;&nbsp;7.982%, due 10/12/50 | 397765 | 402774 |
| Morgan Stanley Capital I Trust 2021-230P |  |  |
| &nbsp;&nbsp;Series 2021-230P A |  |  |
| &nbsp;&nbsp;&nbsp;4.964%, (1 Month CME SOFR + 1.28%), due 12/15/38<sup>(a)</sup> | 325000 | 315656 |
| MSWF Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2023-2 AS |  |  |
| &nbsp;&nbsp;&nbsp;6.491%, due 12/15/56<sup>(a)(c)</sup> | 395000 | 429417 |
| NCMF Trust |  |  |
| &nbsp;&nbsp;Series 2025-MFS D |  |  |
| &nbsp;&nbsp;&nbsp;6.618%, due 6/10/33<sup>(a)(c)</sup> | 925000 | 939392 |
| ROCK Trust |  |  |
| &nbsp;&nbsp;Series 2024-CNTR E |  |  |
| &nbsp;&nbsp;8.819%, due 11/13/41 | 650000 | 691002 |
| SG Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;Series 2016-C5 B |  |  |
| &nbsp;&nbsp;3.933%, due 10/10/48 | 400000 | 385837 |
| SKY Trust 2025-LINE |  |  |
| &nbsp;&nbsp;Series 2025-LINE B |  |  |
| &nbsp;&nbsp;&nbsp;7.367%, (1 Month CME SOFR + 3.69%), due 4/15/42<sup>(a)</sup> | 363144 | 364524 |
| UBS Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2018-C9 C |  |  |
| &nbsp;&nbsp;&nbsp;4.962%, due 3/15/51<sup>(a)(c)</sup> | 550000 | 376938 |
| Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2016-NXS6 D |  |  |
| &nbsp;&nbsp;3.059%, due 11/15/49 | 630000 | 542432 |
| &nbsp;&nbsp;Series 2017-C40 D |  |  |
| &nbsp;&nbsp;2.700%, due 10/15/50 | 635000 | 544091 |
| &nbsp;&nbsp;Series 2019-C51 C |  |  |
| &nbsp;&nbsp;&nbsp;4.289%, due 6/15/52<sup>(a)(c)</sup> | 460000 | 390116 |
| **Total Commercial Mortgage-Backed Securities** |  |  |
| &nbsp;&nbsp;**(Cost $24,790,121)** |  | 25458071 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds — 45.0%** |  |  |
| **Advertising — 0.2%** |  |  |
| Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;7.750%, due 4/15/28 | $105000 | $105033 |
| Lamar Media Corp. |  |  |
| &nbsp;&nbsp;4.875%, due 1/15/29 | 300000 | 300030 |
| &nbsp;&nbsp;5.375%, due 11/1/33 | 75000 | 74803 |
| Outfront Media Capital LLC / Outfront Media Capital Corp. |  |  |
| &nbsp;&nbsp;5.000%, due 8/15/27 | 150000 | 149969 |
|  |  | 629835 |
| **Aerospace & Defense — 0.6%** |  |  |
| AAR Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;6.750%, due 3/15/29 | 140000 | 144899 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;6.000%, due 1/15/33 | 100000 | 101889 |
| &nbsp;&nbsp;6.375%, due 5/31/33 | 300000 | 305403 |
| &nbsp;&nbsp;6.750%, due 8/15/28 | 1000000 | 1016829 |
| &nbsp;&nbsp;6.750%, due 1/31/34 | 110000 | 113852 |
|  |  | 1682872 |
| **Agriculture — 0.1%** |  |  |
| Darling Ingredients, Inc. |  |  |
| &nbsp;&nbsp;6.000%, due 6/15/30 | 175000 | 177330 |
| **Airlines — 0.9%** |  |  |
| American Airlines Class B Pass Through Trust |  |  |
| &nbsp;&nbsp;Series 2021-1, B |  |  |
| &nbsp;&nbsp;3.950%, due 7/11/30 | 202075 | 194200 |
| British Airways Class A Pass Through Trust, (United Kingdom) |  |  |
| &nbsp;&nbsp;Series 2021-1, A |  |  |
| &nbsp;&nbsp;2.900%, due 3/15/35 | 774698 | 708312 |
| Delta Air Lines, Inc. / SkyMiles IP Ltd. |  |  |
| &nbsp;&nbsp;4.750%, due 10/20/28 | 967083 | 974395 |
| JetBlue Class AA Pass Through Trust |  |  |
| &nbsp;&nbsp;Series 2019-1, AA |  |  |
| &nbsp;&nbsp;2.750%, due 5/15/32 | 697977 | 624136 |
| United Airlines Class A Pass Through Trust |  |  |
| &nbsp;&nbsp;Series 20-1, A |  |  |
| &nbsp;&nbsp;5.875%, due 10/15/27 | 174199 | 178523 |
| United Airlines Holdings, Inc. |  |  |
| &nbsp;&nbsp;5.375%, due 3/1/31 | 55000 | 55546 |
|  |  | 2735112 |
| **Apparel — 0.0%<sup>(b)</sup>** |  |  |
| William Carter Co. (The) |  |  |
| &nbsp;&nbsp;7.375%, due 2/15/31 | 40000 | 41352 |
| **Auto Manufacturers — 1.9%** |  |  |
| American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;5.150%, due 7/9/32 | 715000 | 734510 |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;4.125%, due 8/17/27 | 760000 | 756298 |
| &nbsp;&nbsp;6.054%, due 11/5/31 | 345000 | 356324 |
| &nbsp;&nbsp;6.950%, due 3/6/26 | 435000 | 435745 |
| &nbsp;&nbsp;7.200%, due 6/10/30 | 390000 | 419545 |
| General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;2.350%, due 1/8/31 | 640000 | 576969 |
| &nbsp;&nbsp;4.300%, due 4/6/29 | 365000 | 365450 |
| &nbsp;&nbsp;5.625%, due 4/4/32 | 715000 | 744850 |
| JB Poindexter & Co., Inc. |  |  |
| &nbsp;&nbsp;8.750%, due 12/15/31 | 280000 | 290867 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Auto Manufacturers (continued)** |  |  |
| Nissan Motor Acceptance Co. LLC |  |  |
| &nbsp;&nbsp;1.850%, due 9/16/26 | $1150000 | $1126077 |
|  |  | 5806635 |
| **Auto Parts & Equipment — 0.4%** |  |  |
| American Axle & Manufacturing, Inc. |  |  |
| &nbsp;&nbsp;7.750%, due 10/15/33 | 65000 | 66867 |
| Garrett Motion Holdings, Inc. / Garrett LX I Sarl |  |  |
| &nbsp;&nbsp;7.750%, due 5/31/32 | 90000 | 95284 |
| IHO Verwaltungs GmbH, (Germany) |  |  |
| &nbsp;&nbsp;7.750%, due 11/15/30 | 500000 | 525658 |
| &nbsp;&nbsp;8.000%, due 11/15/32 | 60000 | 63943 |
| Qnity Electronics, Inc. |  |  |
| &nbsp;&nbsp;5.750%, due 8/15/32 | 70000 | 71310 |
| Real Hero Merger Sub 2, Inc. |  |  |
| &nbsp;&nbsp;6.250%, due 2/1/29 | 190000 | 93731 |
| Tenneco, Inc. |  |  |
| &nbsp;&nbsp;8.000%, due 11/17/28 | 250000 | 251488 |
| ZF North America Capital, Inc., (Germany) |  |  |
| &nbsp;&nbsp;7.500%, due 3/24/31 | 140000 | 143498 |
|  |  | 1311779 |
| **Banks — 7.3%** |  |  |
| Australia & New Zealand Banking Group Ltd., (Australia) |  |  |
| &nbsp;&nbsp;&nbsp;5.731%, (5 Year US CMT T-Note + 1.62%), due 9/18/34<sup>(a)</sup> | 610000 | 632100 |
| Banco Santander SA, (Spain) |  |  |
| &nbsp;&nbsp;2.749%, due 12/3/30 | 200000 | 182390 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.572%, (SOFR + 1.21%), due 10/20/32<sup>(a)</sup> | 815000 | 735317 |
| &nbsp;&nbsp;&nbsp;2.687%, (SOFR + 1.32%), due 4/22/32<sup>(a)</sup> | 605000 | 555168 |
| Barclays PLC, (United Kingdom) |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, (5 Year US CMT T-Note + 3.41%), due 12/15/74<sup>(a)</sup> | 810000 | 787975 |
| &nbsp;&nbsp;&nbsp;5.367%, (SOFR + 1.23%), due 2/25/31<sup>(a)</sup> | 400000 | 412985 |
| &nbsp;&nbsp;&nbsp;8.000%, (5 Year US CMT T-Note + 5.43%), due 12/15/74<sup>(a)</sup> | 195000 | 208464 |
| BNP Paribas SA, (France) |  |  |
| &nbsp;&nbsp;&nbsp;3.052%, (SOFR + 1.51%), due 1/13/31<sup>(a)</sup> | 440000 | 416672 |
| &nbsp;&nbsp;&nbsp;4.625%, (5 Year US CMT T-Note + 3.20%), due 7/12/74<sup>(a)</sup> | 350000 | 348688 |
| &nbsp;&nbsp;&nbsp;6.875%, (5 Year US CMT T-Note + 2.85%), due 6/15/74<sup>(a)</sup> | 70000 | 70634 |
| BPCE SA, (France) |  |  |
| &nbsp;&nbsp;&nbsp;2.045%, (SOFR + 1.09%), due 10/19/27<sup>(a)</sup> | 1220000 | 1202890 |
| &nbsp;&nbsp;&nbsp;6.714%, (SOFR + 2.27%), due 10/19/29<sup>(a)</sup> | 250000 | 264937 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.520%, (SOFR + 1.18%), due 11/3/32<sup>(a)</sup> | 560000 | 501444 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;3.250%, due 4/30/30 | 445000 | 425481 |
| &nbsp;&nbsp;&nbsp;5.299%, (5 Year US CMT T-Note + 1.45%), due 1/29/36<sup>(a)</sup> | 695000 | 698305 |
| Cooperatieve Rabobank UA, (Netherlands) |  |  |
| &nbsp;&nbsp;&nbsp;3.649%, (1 yr. US Treasury Yield Curve Rate T Note Constant Maturity + 1.22%), due 4/6/28<sup>(a)</sup> | 1045000 | 1040671 |
| Deutsche Bank AG/New York NY, (Germany) |  |  |
| &nbsp;&nbsp;&nbsp;2.552%, (SOFR + 1.32%), due 1/7/28<sup>(a)</sup> | 910000 | 897195 |
| &nbsp;&nbsp;&nbsp;3.729%, (SOFR + 2.76%), due 1/14/32<sup>(a)</sup> | 570000 | 540385 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Banks (continued)** |  |  |
| First Horizon Bank |  |  |
| &nbsp;&nbsp;5.750%, due 5/1/30 | $811000 | $836234 |
| First Horizon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.514%, (SOFR + 1.77%), due 3/7/31<sup>(a)</sup> | 600000 | 617870 |
| Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.605%, (5 Year US CMT T-Note + 1.35%), due 1/28/41<sup>(a)</sup> | 390000 | 388114 |
| &nbsp;&nbsp;&nbsp;6.141%, (5 Year US CMT T-Note + 1.70%), due 11/18/39<sup>(a)</sup> | 755000 | 789408 |
| Keybank National Association |  |  |
| &nbsp;&nbsp;4.900%, due 8/8/32 | 720000 | 718989 |
| KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;6.401%, (SOFR + 2.42%), due 3/6/35<sup>(a)</sup> | 240000 | 260045 |
| Lloyds Banking Group PLC, (United Kingdom) |  |  |
| &nbsp;&nbsp;4.650%, due 3/24/26 | 590000 | 590690 |
| &nbsp;&nbsp;&nbsp;4.976%, (1 yr. US Treasury Yield Curve Rate T Note Constant Maturity + 2.30%), due 8/11/33<sup>(a)</sup> | 355000 | 361203 |
| M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.385%, (SOFR + 1.61%), due 1/16/36<sup>(a)</sup> | 430000 | 436025 |
| &nbsp;&nbsp;&nbsp;6.082%, (SOFR + 2.26%), due 3/13/32<sup>(a)</sup> | 410000 | 435492 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;2.484%, (SOFR + 1.36%), due 9/16/36<sup>(a)</sup> | 1050000 | 923297 |
| &nbsp;&nbsp;&nbsp;2.511%, (SOFR + 1.20%), due 10/20/32<sup>(a)</sup> | 595000 | 534081 |
| Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.499%, (SOFR + 2.36%), due 3/9/29<sup>(a)</sup> | 855000 | 891778 |
| Societe Generale SA, (France) |  |  |
| &nbsp;&nbsp;&nbsp;4.450%, (SOFR + 1.10%), due 4/12/30<sup>(a)</sup> | 470000 | 470346 |
| &nbsp;&nbsp;&nbsp;5.375%, (5 Year US CMT T-Note + 4.51%), due 5/18/74<sup>(a)</sup> | 675000 | 656254 |
| UBS Group AG, (Switzerland) |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, (5 Year US CMT T-Note + 3.31%), due 8/10/74<sup>(a)</sup> | 560000 | 511452 |
| &nbsp;&nbsp;&nbsp;4.875%, (5 Year US CMT T-Note + 3.40%), due 8/12/74<sup>(a)</sup> | 150000 | 149453 |
| &nbsp;&nbsp;&nbsp;6.442%, (SOFR + 3.70%), due 8/11/28<sup>(a)</sup> | 550000 | 568861 |
| USB Realty Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.081%, (3 Month CME SOFR + 1.41%), due 4/15/74<sup>(a)</sup> | 480000 | 403406 |
| Western Alliance Bank |  |  |
| &nbsp;&nbsp;&nbsp;6.537%, (5 Year US CMT T-Note + 2.85%), due 11/15/35<sup>(a)</sup> | 425000 | 430374 |
| Westpac Banking Corp., (Australia) |  |  |
| &nbsp;&nbsp;&nbsp;3.020%, (5 Year US CMT T-Note + 1.53%), due 11/18/36<sup>(a)</sup> | 975000 | 882978 |
|  |  | 21778051 |
| **Biotechnology — 0.3%** |  |  |
| Amgen, Inc. |  |  |
| &nbsp;&nbsp;5.750%, due 3/2/63 | 725000 | 708828 |
| GENMAB A/S/GENMAB FINANCE LLC, (Denmark) |  |  |
| &nbsp;&nbsp;6.250%, due 12/15/32 | 80000 | 82003 |
|  |  | 790831 |
| **Building Materials — 0.5%** |  |  |
| EMRLD Borrower LP / Emerald Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;6.625%, due 12/15/30 | 375000 | 388154 |
| James Hardie International Finance DAC |  |  |
| &nbsp;&nbsp;5.000%, due 1/15/28 | 200000 | 199775 |
| Knife River Corp. |  |  |
| &nbsp;&nbsp;7.750%, due 5/1/31 | 400000 | 416500 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Building Materials (continued)** |  |  |
| Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;6.375%, due 3/1/32 | $315000 | $326684 |
| &nbsp;&nbsp;6.750%, due 3/1/33 | 85000 | 88304 |
|  |  | 1419417 |
| **Chemicals — 1.0%** |  |  |
| ASP Unifrax Holdings, Inc. |  |  |
| &nbsp;&nbsp;11.175%, due 9/30/29 | 106079 | 80620 |
| Celanese U.S. Holdings LLC |  |  |
| &nbsp;&nbsp;6.850%, due 11/15/28 | 63000 | 66136 |
| &nbsp;&nbsp;7.050%, due 11/15/30 | 100000 | 105795 |
| &nbsp;&nbsp;7.330%, due 7/15/29 | 50000 | 52574 |
| Dow Chemical Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;5.650%, due 3/15/36<sup>(d)</sup> | 550000 | 549554 |
| GPD Cos., Inc. |  |  |
| &nbsp;&nbsp;12.500%, due 12/31/29 | 127473 | 66579 |
| Huntsman International LLC |  |  |
| &nbsp;&nbsp;4.500%, due 5/1/29 | 865000 | 832338 |
| Innophos Holdings, Inc. |  |  |
| &nbsp;&nbsp;11.500%, due 6/15/29 | 280000 | 275100 |
| NOVA Chemicals Corp., (Canada) |  |  |
| &nbsp;&nbsp;8.500%, due 11/15/28 | 300000 | 313346 |
| Olympus Water U.S. Holding Corp. |  |  |
| &nbsp;&nbsp;7.250%, due 2/15/33 | 65000 | 64747 |
| Perimeter Holdings LLC |  |  |
| &nbsp;&nbsp;6.250%, due 1/15/34 | 125000 | 125005 |
| SK Invictus Intermediate II Sarl |  |  |
| &nbsp;&nbsp;5.000%, due 10/30/29 | 255000 | 250920 |
| Solstice Advanced Materials, Inc. |  |  |
| &nbsp;&nbsp;5.625%, due 9/30/33 | 100000 | 100529 |
|  |  | 2883243 |
| **Coal — 0.1%** |  |  |
| Alliance Resource Operating Partners LP / Alliance Resource Finance Corp. |  |  |
| &nbsp;&nbsp;8.625%, due 6/15/29 | 150000 | 157947 |
| **Commercial Services — 0.9%** |  |  |
| Belron UK Finance PLC, (United Kingdom) |  |  |
| &nbsp;&nbsp;5.750%, due 10/15/29 | 115000 | 117190 |
| Block, Inc. |  |  |
| &nbsp;&nbsp;5.625%, due 8/15/30 | 85000 | 86517 |
| &nbsp;&nbsp;6.000%, due 8/15/33 | 100000 | 102148 |
| &nbsp;&nbsp;6.500%, due 5/15/32 | 100000 | 103895 |
| Clarivate Science Holdings Corp. |  |  |
| &nbsp;&nbsp;3.875%, due 7/1/28 | 300000 | 283135 |
| &nbsp;&nbsp;4.875%, due 7/1/29 | 340000 | 292252 |
| Dcli Bidco LLC |  |  |
| &nbsp;&nbsp;7.750%, due 11/15/29 | 85000 | 86485 |
| Global Payments, Inc. |  |  |
| &nbsp;&nbsp;4.875%, due 11/15/30 | 535000 | 534877 |
| Graham Holdings Co. |  |  |
| &nbsp;&nbsp;5.625%, due 12/1/33 | 100000 | 100482 |
| Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;5.750%, due 3/15/31 | 25000 | 25178 |
| NES Fircroft Bondco A/S, (United Kingdom) |  |  |
| &nbsp;&nbsp;8.000%, due 9/30/29 | 125000 | 126613 |
| NESCO Holdings II, Inc. |  |  |
| &nbsp;&nbsp;5.500%, due 4/15/29 | 150000 | 147810 |
| OT Midco, Inc. |  |  |
| &nbsp;&nbsp;10.000%, due 2/15/30 | 125000 | 58288 |
| TriNet Group, Inc. |  |  |
| &nbsp;&nbsp;3.500%, due 3/1/29 | 200000 | 189018 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Commercial Services (continued)** |  |  |
| United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;3.875%, due 2/15/31 | $100000 | $95329 |
| &nbsp;&nbsp;5.375%, due 11/15/33 | 120000 | 119929 |
| Williams Scotsman, Inc. |  |  |
| &nbsp;&nbsp;4.625%, due 8/15/28 | 150000 | 149440 |
| &nbsp;&nbsp;6.625%, due 4/15/30 | 50000 | 51806 |
|  |  | 2670392 |
| **Computers — 0.2%** |  |  |
| Amentum Holdings, Inc. |  |  |
| &nbsp;&nbsp;7.250%, due 8/1/32 | 75000 | 79037 |
| CACI International, Inc. |  |  |
| &nbsp;&nbsp;6.375%, due 6/15/33 | 75000 | 77815 |
| Dell International LLC / EMC Corp. |  |  |
| &nbsp;&nbsp;3.375%, due 12/15/41 | 340000 | 256993 |
| Insight Enterprises, Inc. |  |  |
| &nbsp;&nbsp;6.625%, due 5/15/32 | 165000 | 168910 |
| McAfee Corp. |  |  |
| &nbsp;&nbsp;7.375%, due 2/15/30 | 25000 | 19890 |
|  |  | 602645 |
| **Cosmetics/Personal Care — 0.7%** |  |  |
| Coty, Inc. /HFC Prestige Products, Inc./HFC Prestige International U.S. LLC |  |  |
| &nbsp;&nbsp;4.750%, due 1/15/29 | 1420000 | 1405177 |
| Edgewell Personal Care Co. |  |  |
| &nbsp;&nbsp;5.500%, due 6/1/28 | 300000 | 300097 |
| Perrigo Finance Unlimited Co. |  |  |
| &nbsp;&nbsp;Series USD |  |  |
| &nbsp;&nbsp;6.125%, due 9/30/32 | 100000 | 98353 |
| Prestige Brands, Inc. |  |  |
| &nbsp;&nbsp;3.750%, due 4/1/31 | 200000 | 186945 |
| &nbsp;&nbsp;5.125%, due 1/15/28 | 100000 | 100038 |
|  |  | 2090610 |
| **Distribution/Wholesale — 0.3%** |  |  |
| Gates Corp. |  |  |
| &nbsp;&nbsp;6.875%, due 7/1/29 | 200000 | 207907 |
| RB Global Holdings Inc, (Canada) |  |  |
| &nbsp;&nbsp;7.750%, due 3/15/31 | 500000 | 521194 |
| Velocity Vehicle Group LLC |  |  |
| &nbsp;&nbsp;8.000%, due 6/1/29 | 95000 | 92982 |
|  |  | 822083 |
| **Diversified Financial Services — 3.4%** |  |  |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland) |  |  |
| &nbsp;&nbsp;3.000%, due 10/29/28 | 200000 | 194018 |
| Aircastle Ltd. / Aircastle Ireland DAC |  |  |
| &nbsp;&nbsp;5.000%, due 9/15/30 | 525000 | 531945 |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.548%, (SOFR + 1.78%), due 7/31/33<sup>(a)</sup> | 630000 | 634043 |
| &nbsp;&nbsp;&nbsp;6.992%, (SOFR + 3.26%), due 6/13/29<sup>(a)</sup> | 465000 | 490412 |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;4.700%, (7 yr. US Treasury Yield Curve Rate T Note Constant Maturity + 3.48%), due 8/15/74<sup>(a)</sup> | 330000 | 316308 |
| Aretec Group, Inc. |  |  |
| &nbsp;&nbsp;7.500%, due 4/1/29 | 125000 | 124694 |
| Avolon Holdings Funding Ltd., (Ireland) |  |  |
| &nbsp;&nbsp;2.125%, due 2/21/26 | 615000 | 614150 |
| &nbsp;&nbsp;4.700%, due 1/30/31 | 390000 | 387923 |
| &nbsp;&nbsp;5.750%, due 11/15/29 | 890000 | 924772 |
| Cantor Fitzgerald LP |  |  |
| &nbsp;&nbsp;7.200%, due 12/12/28 | 490000 | 521638 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Diversified Financial Services (continued)** |  |  |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.722%, (SOFR + 1.15%), due 1/30/32<sup>(a)</sup> | $470000 | $470140 |
| &nbsp;&nbsp;&nbsp;6.312%, (SOFR + 2.64%), due 6/8/29<sup>(a)</sup> | 775000 | 811233 |
| Jane Street Group / JSG Finance, Inc. |  |  |
| &nbsp;&nbsp;6.125%, due 11/1/32 | 200000 | 203701 |
| &nbsp;&nbsp;6.750%, due 5/1/33 | 60000 | 62408 |
| &nbsp;&nbsp;7.125%, due 4/30/31 | 550000 | 578277 |
| Macquarie Airfinance Holdings Ltd., (United Kingdom) |  |  |
| &nbsp;&nbsp;6.400%, due 3/26/29 | 850000 | 892898 |
| Osaic Holdings, Inc. |  |  |
| &nbsp;&nbsp;6.750%, due 8/1/32 | 150000 | 155455 |
| &nbsp;&nbsp;8.000%, due 8/1/33 | 40000 | 41461 |
| &nbsp;&nbsp;Series Jan |  |  |
| &nbsp;&nbsp;8.000%, due 8/1/33 | 35000 | 36269 |
| &nbsp;&nbsp;Series JAN |  |  |
| &nbsp;&nbsp;6.750%, due 8/1/32 | 60000 | 62173 |
| PennyMac Financial Services, Inc. |  |  |
| &nbsp;&nbsp;4.250%, due 2/15/29 | 250000 | 240576 |
| &nbsp;&nbsp;5.750%, due 9/15/31 | 100000 | 98756 |
| &nbsp;&nbsp;6.750%, due 2/15/34 | 50000 | 50457 |
| Planet Financial Group LLC |  |  |
| &nbsp;&nbsp;10.500%, due 12/15/29 | 100000 | 103899 |
| Rocket Cos., Inc. |  |  |
| &nbsp;&nbsp;6.125%, due 8/1/30 | 130000 | 133095 |
| &nbsp;&nbsp;6.375%, due 8/1/33 | 95000 | 98559 |
| Stonex Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;6.875%, due 7/15/32 | 155000 | 159913 |
| StoneX Group, Inc. |  |  |
| &nbsp;&nbsp;7.875%, due 3/1/31 | 375000 | 398956 |
| Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;5.450%, (SOFR + 1.68%), due 3/6/31<sup>(a)</sup> | 850000 | 866455 |
|  |  | 10204584 |
| **Electric — 4.7%** |  |  |
| AEP Texas, Inc. |  |  |
| &nbsp;&nbsp;3.450%, due 5/15/51 | 745000 | 505211 |
| &nbsp;&nbsp;5.850%, due 10/15/55 | 255000 | 250711 |
| Algonquin Power & Utilities Corp., (Canada) |  |  |
| &nbsp;&nbsp;5.365%, due 6/15/26 | 950000 | 954271 |
| Alpha Generation LLC |  |  |
| &nbsp;&nbsp;6.750%, due 10/15/32 | 225000 | 233281 |
| Arizona Public Service Co. |  |  |
| &nbsp;&nbsp;5.700%, due 8/15/34 | 575000 | 603089 |
| &nbsp;&nbsp;6.350%, due 12/15/32 | 665000 | 724993 |
| Baltimore Gas and Electric Co. |  |  |
| &nbsp;&nbsp;4.550%, due 6/1/52 | 720000 | 605636 |
| Black Hills Corp. |  |  |
| &nbsp;&nbsp;4.550%, due 1/31/31 | 950000 | 949439 |
| Clearway Energy Operating LLC |  |  |
| &nbsp;&nbsp;4.750%, due 3/15/28 | 425000 | 424700 |
| &nbsp;&nbsp;5.750%, due 1/15/34 | 35000 | 35128 |
| Edison International |  |  |
| &nbsp;&nbsp;5.250%, due 3/15/32 | 850000 | 852504 |
| &nbsp;&nbsp;&nbsp;7.875%, (5 Year US CMT T-Note + 3.66%), due 6/15/54<sup>(a)</sup> | 335000 | 348918 |
| Electricite de France SA, (France) |  |  |
| &nbsp;&nbsp;&nbsp;9.125%, (5 Year US CMT T-Note + 5.41%), due 12/15/74<sup>(a)</sup> | 40000 | 47345 |
| Evergy Kansas Central, Inc. |  |  |
| &nbsp;&nbsp;5.250%, due 3/15/35 | 1250000 | 1273560 |
| Evergy Missouri West, Inc. |  |  |
| &nbsp;&nbsp;5.250%, due 12/15/35 | 245000 | 245875 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Electric (continued)** |  |  |
| Indianapolis Power & Light Co. |  |  |
| &nbsp;&nbsp;5.050%, due 8/15/35 | $205000 | $205997 |
| &nbsp;&nbsp;5.650%, due 12/1/32 | 370000 | 388067 |
| Lightning Power LLC |  |  |
| &nbsp;&nbsp;7.250%, due 8/15/32 | 400000 | 425758 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;5.407%, due 10/15/35 | 340000 | 338427 |
| &nbsp;&nbsp;5.750%, due 1/15/28 | 100000 | 100057 |
| &nbsp;&nbsp;5.750%, due 1/15/34 | 135000 | 135895 |
| &nbsp;&nbsp;6.000%, due 2/1/33 | 250000 | 254797 |
| &nbsp;&nbsp;6.000%, due 1/15/36 | 220000 | 222296 |
| PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;7.375%, (5 Year US CMT T-Note + 3.32%), due 9/15/55<sup>(a)</sup> | 470000 | 482692 |
| Puget Energy, Inc. |  |  |
| &nbsp;&nbsp;4.224%, due 3/15/32 | 855000 | 821585 |
| Southern California Edison Co. |  |  |
| &nbsp;&nbsp;5.700%, due 3/1/53 | 270000 | 253985 |
| Talen Energy Supply LLC |  |  |
| &nbsp;&nbsp;6.250%, due 2/1/34 | 120000 | 121615 |
| &nbsp;&nbsp;6.500%, due 2/1/36 | 160000 | 164039 |
| TransAlta Corp., (Canada) |  |  |
| &nbsp;&nbsp;5.875%, due 2/1/34 | 90000 | 90072 |
| Virginia Electric and Power Co. |  |  |
| &nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;4.625%, due 5/15/52 | 500000 | 420212 |
| Vistra Corp. |  |  |
| &nbsp;&nbsp;&nbsp;8.000%, (5 Year US CMT T-Note + 6.93%), due 4/15/74<sup>(a)</sup> | 200000 | 203687 |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;5.625%, due 2/15/27 | 500000 | 500357 |
| VoltaGrid LLC |  |  |
| &nbsp;&nbsp;7.375%, due 11/1/30 | 90000 | 91153 |
| XPLR Infrastructure Operating Partners LP |  |  |
| &nbsp;&nbsp;4.500%, due 9/15/27 | 50000 | 49545 |
| &nbsp;&nbsp;7.250%, due 1/15/29 | 100000 | 103188 |
| &nbsp;&nbsp;7.750%, due 4/15/34 | 50000 | 50967 |
| &nbsp;&nbsp;8.375%, due 1/15/31 | 90000 | 94538 |
| &nbsp;&nbsp;8.625%, due 3/15/33 | 75000 | 78684 |
| Zorlu Enerji Elektrik Uretim A/S, (Turkey) |  |  |
| &nbsp;&nbsp;11.000%, due 4/23/30 | 420000 | 391328 |
|  |  | 14043602 |
| **Electrical Components & Equipment — 0.0%<sup>(b)</sup>** |  |  |
| EnerSys |  |  |
| &nbsp;&nbsp;6.625%, due 1/15/32 | 100000 | 103574 |
| **Electronics — 0.1%** |  |  |
| Amphenol Corp. |  |  |
| &nbsp;&nbsp;5.300%, due 11/15/55 | 75000 | 71543 |
| Sensata Technologies BV |  |  |
| &nbsp;&nbsp;5.875%, due 9/1/30 | 350000 | 355203 |
|  |  | 426746 |
| **Engineering & Construction — 0.3%** |  |  |
| AECOM |  |  |
| &nbsp;&nbsp;6.000%, due 8/1/33 | 120000 | 122928 |
| Arcosa, Inc. |  |  |
| &nbsp;&nbsp;4.375%, due 4/15/29 | 425000 | 417786 |
| Artera Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.500%, due 2/15/31<sup>(d)</sup> | 55000 | 44706 |
| Great Lakes Dredge & Dock Corp. |  |  |
| &nbsp;&nbsp;5.250%, due 6/1/29 | 85000 | 83607 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Engineering & Construction (continued)** |  |  |
| Weekley Homes LLC / Weekley Finance Corp. |  |  |
| &nbsp;&nbsp;4.875%, due 9/15/28 | $150000 | $147770 |
| &nbsp;&nbsp;6.750%, due 1/15/34 | 115000 | 115591 |
|  |  | 932388 |
| **Entertainment — 1.0%** |  |  |
| Boyne USA, Inc. |  |  |
| &nbsp;&nbsp;4.750%, due 5/15/29 | 250000 | 246692 |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;4.625%, due 10/15/29 | 75000 | 72027 |
| &nbsp;&nbsp;&nbsp;6.000%, due 10/15/32<sup>(d)</sup> | 150000 | 145929 |
| Churchill Downs, Inc. |  |  |
| &nbsp;&nbsp;5.500%, due 4/1/27 | 375000 | 374934 |
| &nbsp;&nbsp;5.750%, due 4/1/30 | 375000 | 377033 |
| Jacobs Entertainment, Inc. |  |  |
| &nbsp;&nbsp;6.750%, due 2/15/29 | 160000 | 157971 |
| Light & Wonder International, Inc. |  |  |
| &nbsp;&nbsp;6.250%, due 10/1/33 | 80000 | 81000 |
| &nbsp;&nbsp;7.500%, due 9/1/31 | 200000 | 209289 |
| Live Nation Entertainment, Inc. |  |  |
| &nbsp;&nbsp;4.750%, due 10/15/27 | 500000 | 499845 |
| Merlin Entertainments Group U.S. Holdings, Inc., (United Kingdom) |  |  |
| &nbsp;&nbsp;7.375%, due 2/15/31 | 105000 | 88905 |
| Motion Bondco DAC, (United Kingdom) |  |  |
| &nbsp;&nbsp;6.625%, due 11/15/27 | 140000 | 132876 |
| Rivers Enterprise Borrower LLC / Rivers Enterprise Finance Corp. |  |  |
| &nbsp;&nbsp;6.625%, due 2/1/33 | 115000 | 117052 |
| Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp. |  |  |
| &nbsp;&nbsp;6.250%, due 10/15/30 | 115000 | 116743 |
| Voyager Parent LLC |  |  |
| &nbsp;&nbsp;9.250%, due 7/1/32 | 145000 | 154037 |
| Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;4.279%, due 3/15/32 | 155000 | 136400 |
| &nbsp;&nbsp;5.050%, due 3/15/42 | 80000 | 56200 |
|  |  | 2966933 |
| **Environmental Control — 0.0%<sup>(b)</sup>** |  |  |
| Luna 1.5 SARL, (Luxembourg) |  |  |
| &nbsp;&nbsp;12.000%, due 7/1/32 | 55000 | 58041 |
| Waste Pro USA, Inc. |  |  |
| &nbsp;&nbsp;7.000%, due 2/1/33 | 65000 | 66779 |
|  |  | 124820 |
| **Food — 1.2%** |  |  |
| Albertsons Cos., Inc. |  |  |
| &nbsp;&nbsp;5.625%, due 3/31/32 | 50000 | 49949 |
| Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC |  |  |
| &nbsp;&nbsp;5.750%, due 3/31/34 | 75000 | 73761 |
| C&S Group Enterprises LLC |  |  |
| &nbsp;&nbsp;5.000%, due 12/15/28 | 85000 | 79784 |
| Chobani Holdco II LLC |  |  |
| &nbsp;&nbsp;8.750%, due 10/1/29 | 168289 | 179367 |
| Grupo Nutresa SA, (Colombia) |  |  |
| &nbsp;&nbsp;8.000%, due 5/12/30 | 200000 | 212995 |
| &nbsp;&nbsp;9.000%, due 5/12/35 | 380000 | 423890 |
| MARB BondCo PLC, (Brazil) |  |  |
| &nbsp;&nbsp;3.950%, due 1/29/31 | 1010000 | 913753 |
| Performance Food Group, Inc. |  |  |
| &nbsp;&nbsp;4.250%, due 8/1/29 | 250000 | 244788 |
| &nbsp;&nbsp;5.500%, due 10/15/27 | 200000 | 200109 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Food (continued)** |  |  |
| Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;6.500%, due 3/15/36 | $50000 | $50045 |
| Simmons Foods Inc/Simmons Prepared Foods, Inc. /Simmons Pet Food, Inc./Simmons Feed |  |  |
| &nbsp;&nbsp;4.625%, due 3/1/29 | 300000 | 289134 |
| Smithfield Foods, Inc. |  |  |
| &nbsp;&nbsp;3.000%, due 10/15/30 | 170000 | 156280 |
| &nbsp;&nbsp;4.250%, due 2/1/27 | 715000 | 714690 |
| United Natural Foods, Inc. |  |  |
| &nbsp;&nbsp;6.750%, due 10/15/28 | 155000 | 155273 |
|  |  | 3743818 |
| **Forest Products & Paper — 0.1%** |  |  |
| Mercer International, Inc., (Germany) |  |  |
| &nbsp;&nbsp;5.125%, due 2/1/29 | 405000 | 250255 |
| **Gas — 1.1%** |  |  |
| AltaGas Ltd., (Canada) |  |  |
| &nbsp;&nbsp;&nbsp;7.200%, (5 Year US CMT T-Note + 3.57%), due 10/15/54<sup>(a)</sup> | 100000 | 104004 |
| Boston Gas Co. |  |  |
| &nbsp;&nbsp;3.757%, due 3/16/32 | 275000 | 260693 |
| Brooklyn Union Gas Co. (The) |  |  |
| &nbsp;&nbsp;4.866%, due 8/5/32 | 910000 | 902358 |
| &nbsp;&nbsp;6.388%, due 9/15/33 | 225000 | 240979 |
| National Fuel Gas Co. |  |  |
| &nbsp;&nbsp;5.950%, due 3/15/35 | 1155000 | 1210545 |
| Southern California Gas Co. |  |  |
| &nbsp;&nbsp;6.000%, due 6/15/55 | 605000 | 619837 |
|  |  | 3338416 |
| **Healthcare-Products — 0.2%** |  |  |
| Hologic, Inc. |  |  |
| &nbsp;&nbsp;3.250%, due 2/15/29 | 150000 | 149452 |
| &nbsp;&nbsp;4.625%, due 2/1/28 | 85000 | 84904 |
| Neogen Food Safety Corp. |  |  |
| &nbsp;&nbsp;8.625%, due 7/20/30 | 75000 | 79955 |
| Varex Imaging Corp. |  |  |
| &nbsp;&nbsp;7.875%, due 10/15/27 | 350000 | 356131 |
|  |  | 670442 |
| **Healthcare-Services — 0.5%** |  |  |
| DaVita, Inc. |  |  |
| &nbsp;&nbsp;4.625%, due 6/1/30 | 75000 | 72166 |
| Encompass Health Corp. |  |  |
| &nbsp;&nbsp;4.625%, due 4/1/31 | 100000 | 97883 |
| Global Medical Response, Inc. |  |  |
| &nbsp;&nbsp;7.375%, due 10/1/32 | 100000 | 103399 |
| IQVIA, Inc. |  |  |
| &nbsp;&nbsp;6.250%, due 6/1/32 | 240000 | 249348 |
| LifePoint Health, Inc. |  |  |
| &nbsp;&nbsp;5.375%, due 1/15/29 | 90000 | 87390 |
| &nbsp;&nbsp;8.375%, due 2/15/32 | 110000 | 119525 |
| &nbsp;&nbsp;10.000%, due 6/1/32 | 155000 | 163528 |
| &nbsp;&nbsp;11.000%, due 10/15/30 | 250000 | 272644 |
| Molina Healthcare, Inc. |  |  |
| &nbsp;&nbsp;6.500%, due 2/15/31 | 75000 | 76864 |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;6.125%, due 6/15/30 | 400000 | 408204 |
|  |  | 1650951 |
| **Holding Companies-Divers — 0.3%** |  |  |
| Clue Opco LLC |  |  |
| &nbsp;&nbsp;9.500%, due 10/15/31 | 135000 | 143125 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Holding Companies-Divers (continued)** |  |  |
| Stena International SA, (Sweden) |  |  |
| &nbsp;&nbsp;7.625%, due 2/15/31 | $750000 | $776186 |
|  |  | 919311 |
| **Home Builders — 0.1%** |  |  |
| Installed Building Products, Inc. |  |  |
| &nbsp;&nbsp;5.625%, due 2/1/34 | 60000 | 60345 |
| Mattamy Group Corp., (Canada) |  |  |
| &nbsp;&nbsp;6.000%, due 12/15/33 | 120000 | 117908 |
| Shea Homes LP / Shea Homes Funding Corp. |  |  |
| &nbsp;&nbsp;4.750%, due 2/15/28 | 75000 | 74858 |
| STL Holding Co. LLC |  |  |
| &nbsp;&nbsp;8.750%, due 2/15/29 | 65000 | 68353 |
| Winnebago Industries, Inc. |  |  |
| &nbsp;&nbsp;6.250%, due 7/15/28 | 118000 | 117903 |
|  |  | 439367 |
| **Housewares — 0.4%** |  |  |
| Central Garden & Pet Co. |  |  |
| &nbsp;&nbsp;5.125%, due 2/1/28 | 450000 | 449645 |
| Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 5/15/30<sup>(d)</sup> | 135000 | 133438 |
| &nbsp;&nbsp;&nbsp;6.625%, due 5/15/32<sup>(d)</sup> | 115000 | 112624 |
| &nbsp;&nbsp;8.500%, due 6/1/28 | 85000 | 89118 |
| Scotts Miracle-Gro Co. (The) |  |  |
| &nbsp;&nbsp;4.000%, due 4/1/31 | 150000 | 141199 |
| &nbsp;&nbsp;4.375%, due 2/1/32 | 250000 | 235680 |
|  |  | 1161704 |
| **Insurance — 0.7%** |  |  |
| Asurion LLC and Asurion Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;8.000%, due 12/31/32 | 125000 | 130600 |
| &nbsp;&nbsp;8.375%, due 2/1/34 | 60000 | 60658 |
| Belrose Funding Trust II |  |  |
| &nbsp;&nbsp;6.792%, due 5/15/55 | 650000 | 681477 |
| Five Corners Funding Trust III |  |  |
| &nbsp;&nbsp;5.791%, due 2/15/33 | 545000 | 575119 |
| HUB International Ltd. |  |  |
| &nbsp;&nbsp;7.250%, due 6/15/30 | 150000 | 156503 |
| MGIC Investment Corp. |  |  |
| &nbsp;&nbsp;5.250%, due 8/15/28 | 200000 | 199885 |
| Ryan Specialty LLC |  |  |
| &nbsp;&nbsp;5.875%, due 8/1/32 | 200000 | 203323 |
|  |  | 2007565 |
| **Internet — 0.4%** |  |  |
| Cars.com, Inc. |  |  |
| &nbsp;&nbsp;6.375%, due 11/1/28 | 90000 | 89796 |
| Cogent Communications Group LLC / Cogent Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, due 7/1/32<sup>(d)</sup> | 185000 | 169879 |
| &nbsp;&nbsp;7.000%, due 6/15/27 | 75000 | 74677 |
| Gen Digital, Inc. |  |  |
| &nbsp;&nbsp;6.750%, due 9/30/27 | 55000 | 55460 |
| Go Daddy Operating Co LLC / GD Finance Co., Inc. |  |  |
| &nbsp;&nbsp;5.250%, due 12/1/27 | 450000 | 449432 |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;5.625%, due 11/15/55 | 300000 | 285445 |
|  |  | 1124689 |
| **Investment Companies — 0.0%<sup>(b)</sup>** |  |  |
| Compass Group Diversified Holdings LLC |  |  |
| &nbsp;&nbsp;5.250%, due 4/15/29 | 133818 | 124750 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Iron/Steel — 0.4%** |  |  |
| Commercial Metals Co. |  |  |
| &nbsp;&nbsp;5.750%, due 11/15/33 | $67000 | $68119 |
| &nbsp;&nbsp;6.000%, due 12/15/35 | 68000 | 69476 |
| Mineral Resources Ltd., (Australia) |  |  |
| &nbsp;&nbsp;7.000%, due 4/1/31 | 150000 | 157643 |
| &nbsp;&nbsp;8.500%, due 5/1/30 | 350000 | 362823 |
| &nbsp;&nbsp;9.250%, due 10/1/28 | 250000 | 262602 |
| Samarco Mineracao SA, (Brazil) |  |  |
| &nbsp;&nbsp;9.500%, due 6/30/31 | 292742 | 293889 |
|  |  | 1214552 |
| **Leisure Time — 0.2%** |  |  |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;5.750%, due 8/1/32 | 150000 | 154054 |
| MajorDrive Holdings IV LLC |  |  |
| &nbsp;&nbsp;6.375%, due 6/1/29 | 85000 | 68380 |
| Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;5.375%, due 1/15/36 | 295000 | 295616 |
|  |  | 518050 |
| **Lodging — 0.7%** |  |  |
| Boyd Gaming Corp. |  |  |
| &nbsp;&nbsp;4.750%, due 6/15/31 | 125000 | 121765 |
| Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;3.625%, due 2/15/32 | 100000 | 92575 |
| &nbsp;&nbsp;&nbsp;4.875%, due 1/15/30<sup>(d)</sup> | 500000 | 500977 |
| &nbsp;&nbsp;5.500%, due 3/31/34 | 35000 | 35169 |
| &nbsp;&nbsp;5.750%, due 9/15/33 | 100000 | 101875 |
| Hyatt Hotels Corp. |  |  |
| &nbsp;&nbsp;5.250%, due 6/30/29 | 885000 | 912457 |
| Studio City Finance Ltd., (Macau) |  |  |
| &nbsp;&nbsp;5.000%, due 1/15/29 | 490000 | 474698 |
|  |  | 2239516 |
| **Machinery-Diversified — 0.3%** |  |  |
| Columbus McKinnon Corp. |  |  |
| &nbsp;&nbsp;7.125%, due 2/1/33 | 90000 | 90468 |
| CompoSecure Holdings LLC |  |  |
| &nbsp;&nbsp;5.625%, due 2/1/33 | 120000 | 119616 |
| Maxim Crane Works Holdings Capital LLC |  |  |
| &nbsp;&nbsp;11.500%, due 9/1/28 | 135000 | 143827 |
| TK Elevator U.S. Newco, Inc., (Germany) |  |  |
| &nbsp;&nbsp;5.250%, due 7/15/27 | 400000 | 400116 |
|  |  | 754027 |
| **Media — 1.5%** |  |  |
| Cable One, Inc. |  |  |
| &nbsp;&nbsp;1.125%, due 3/15/28 | 160000 | 121600 |
| &nbsp;&nbsp;4.000%, due 11/15/30 | 75000 | 54589 |
| &nbsp;&nbsp;&nbsp;15.120%, due 3/15/26<sup>(e)</sup> | 200000 | 196500 |
| CCO Holdings LLC / CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;4.500%, due 5/1/32 | 585000 | 524972 |
| &nbsp;&nbsp;4.750%, due 3/1/30 | 100000 | 95530 |
| &nbsp;&nbsp;5.000%, due 2/1/28 | 200000 | 198899 |
| CSC Holdings LLC |  |  |
| &nbsp;&nbsp;5.500%, due 4/15/27 | 350000 | 308925 |
| &nbsp;&nbsp;5.750%, due 1/15/30 | 200000 | 78611 |
| Directv Financing LLC |  |  |
| &nbsp;&nbsp;8.875%, due 2/1/30 | 100000 | 101251 |
| Directv Financing LLC / Directv Financing Co.-Obligor, Inc. |  |  |
| &nbsp;&nbsp;5.875%, due 8/15/27 | 82000 | 82399 |
| Discovery Communications LLC |  |  |
| &nbsp;&nbsp;3.625%, due 5/15/30 | 80000 | 73905 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Media (continued)** |  |  |
| Gray Media, Inc. |  |  |
| &nbsp;&nbsp;9.625%, due 7/15/32 | $60000 | $61857 |
| &nbsp;&nbsp;10.500%, due 7/15/29 | 36000 | 38668 |
| LCPR Senior Secured Financing DAC, (Puerto Rico) |  |  |
| &nbsp;&nbsp;5.125%, due 7/15/29 | 200000 | 133000 |
| &nbsp;&nbsp;6.750%, due 10/15/27 | 200000 | 139500 |
| Nexstar Media, Inc. |  |  |
| &nbsp;&nbsp;4.750%, due 11/1/28 | 50000 | 49698 |
| Sinclair Television Group, Inc. |  |  |
| &nbsp;&nbsp;8.125%, due 2/15/33 | 125000 | 129303 |
| Sirius XM Radio LLC |  |  |
| &nbsp;&nbsp;5.000%, due 8/1/27 | 400000 | 399305 |
| Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;6.750%, due 6/15/39 | 635000 | 638019 |
| Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;9.375%, due 8/1/32 | 100000 | 107666 |
| Versant Media Group, Inc. |  |  |
| &nbsp;&nbsp;7.250%, due 1/30/31 | 200000 | 204958 |
| Virgin Media Secured Finance PLC, (United Kingdom) |  |  |
| &nbsp;&nbsp;5.500%, due 5/15/29 | 200000 | 197262 |
| Virgin Media Vendor Financing Notes IV DAC, (United Kingdom) |  |  |
| &nbsp;&nbsp;5.000%, due 7/15/28 | 235000 | 235000 |
| Ziggo BV, (Netherlands) |  |  |
| &nbsp;&nbsp;4.875%, due 1/15/30 | 225000 | 212414 |
|  |  | 4383831 |
| **Metal Fabricate/Hardware — 0.2%** |  |  |
| Advanced Drainage Systems, Inc. |  |  |
| &nbsp;&nbsp;6.375%, due 6/15/30 | 300000 | 306730 |
| Park-Ohio Industries, Inc. |  |  |
| &nbsp;&nbsp;8.500%, due 8/1/30 | 55000 | 56482 |
| Vallourec SACA, (France) |  |  |
| &nbsp;&nbsp;7.500%, due 4/15/32 | 200000 | 212547 |
|  |  | 575759 |
| **Mining — 0.7%** |  |  |
| Century Aluminum Co. |  |  |
| &nbsp;&nbsp;6.875%, due 8/1/32 | 140000 | 144979 |
| Eldorado Gold Corp., (Turkey) |  |  |
| &nbsp;&nbsp;6.250%, due 9/1/29 | 130000 | 130651 |
| First Quantum Minerals Ltd., (Zambia) |  |  |
| &nbsp;&nbsp;9.375%, due 3/1/29 | 300000 | 314725 |
| IAMGOLD Corp., (Burkina Faso) |  |  |
| &nbsp;&nbsp;5.750%, due 10/15/28 | 250000 | 251010 |
| Vedanta Resources Finance II PLC, (India) |  |  |
| &nbsp;&nbsp;10.875%, due 9/17/29 | 390000 | 417792 |
| WE Soda Investments Holding PLC, (Turkey) |  |  |
| &nbsp;&nbsp;9.375%, due 2/14/31 | 765000 | 791023 |
|  |  | 2050180 |
| **Miscellaneous Manufacturing — 0.1%** |  |  |
| Amsted Industries, Inc. |  |  |
| &nbsp;&nbsp;4.625%, due 5/15/30 | 50000 | 49460 |
| &nbsp;&nbsp;6.375%, due 3/15/33 | 60000 | 62097 |
| Calderys Financing II LLC |  |  |
| &nbsp;&nbsp;11.750%, due 6/1/28 | 212500 | 220548 |
| Calderys Financing LLC, (France) |  |  |
| &nbsp;&nbsp;11.250%, due 6/1/28 | 100000 | 104191 |
|  |  | 436296 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Oil & Gas — 1.4%** |  |  |
| Chord Energy Corp. |  |  |
| &nbsp;&nbsp;6.000%, due 10/1/30 | $50000 | $50975 |
| Crescent Energy Finance LLC |  |  |
| &nbsp;&nbsp;7.750%, due 7/31/29 | 100000 | 100250 |
| &nbsp;&nbsp;7.875%, due 4/15/32 | 90000 | 89544 |
| Diamond Foreign Asset Co. / Diamond Finance LLC |  |  |
| &nbsp;&nbsp;8.500%, due 10/1/30 | 200000 | 212666 |
| Energean Israel Finance Ltd., (Israel) |  |  |
| &nbsp;&nbsp;5.375%, due 3/30/28 | 95000 | 93943 |
| Gulfport Energy Operating Corp. |  |  |
| &nbsp;&nbsp;6.750%, due 9/1/29 | 200000 | 206257 |
| Hilcorp Energy I LP / Hilcorp Finance Co. |  |  |
| &nbsp;&nbsp;6.000%, due 2/1/31 | 300000 | 289719 |
| Matador Resources Co. |  |  |
| &nbsp;&nbsp;6.875%, due 4/15/28 | 150000 | 153263 |
| Moss Creek Resources Holdings, Inc. |  |  |
| &nbsp;&nbsp;8.250%, due 9/1/31 | 95000 | 92389 |
| Murphy Oil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, due 10/1/32<sup>(d)</sup> | 60000 | 59950 |
| &nbsp;&nbsp;6.500%, due 2/15/34 | 70000 | 69747 |
| Noble Finance II LLC |  |  |
| &nbsp;&nbsp;8.000%, due 4/15/30 | 200000 | 208491 |
| PBF Holding Co. LLC / PBF Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;9.875%, due 3/15/30<sup>(d)</sup> | 55000 | 58326 |
| Permian Resources Operating LLC |  |  |
| &nbsp;&nbsp;5.875%, due 7/1/29 | 450000 | 451512 |
| Range Resources Corp. |  |  |
| &nbsp;&nbsp;4.750%, due 2/15/30 | 150000 | 147942 |
| Rockcliff Energy II LLC |  |  |
| &nbsp;&nbsp;5.500%, due 10/15/29 | 250000 | 247389 |
| Seadrill Finance Ltd., (Norway) |  |  |
| &nbsp;&nbsp;8.375%, due 8/1/30 | 100000 | 104759 |
| SM Energy Co. |  |  |
| &nbsp;&nbsp;6.750%, due 8/1/29 | 100000 | 101138 |
| &nbsp;&nbsp;7.000%, due 8/1/32 | 60000 | 60154 |
| Sunoco LP |  |  |
| &nbsp;&nbsp;4.625%, due 5/1/30 | 500000 | 487539 |
| Talos Production, Inc. |  |  |
| &nbsp;&nbsp;9.000%, due 2/1/29 | 140000 | 145873 |
| &nbsp;&nbsp;9.375%, due 2/1/31 | 360000 | 381366 |
| Transocean International Ltd. |  |  |
| &nbsp;&nbsp;8.750%, due 2/15/30 | 187500 | 195456 |
| Transocean Titan Financing Ltd. |  |  |
| &nbsp;&nbsp;8.375%, due 2/1/28 | 80952 | 82580 |
| Wildfire Intermediate Holdings LLC |  |  |
| &nbsp;&nbsp;7.500%, due 10/15/29 | 100000 | 101379 |
|  |  | 4192607 |
| **Oil & Gas Services — 0.2%** |  |  |
| Archrock Services LP / Archrock Partners Finance Corp. |  |  |
| &nbsp;&nbsp;6.000%, due 2/1/34 | 40000 | 39970 |
| Bristow Group, Inc. |  |  |
| &nbsp;&nbsp;6.750%, due 2/1/33 | 115000 | 116347 |
| &nbsp;&nbsp;6.875%, due 3/1/28 | 130000 | 130138 |
| Kodiak Gas Services LLC |  |  |
| &nbsp;&nbsp;6.500%, due 10/1/33 | 65000 | 66578 |
| Nine Energy Service, Inc. |  |  |
| &nbsp;&nbsp;13.000%, due 2/1/28 | 140000 | 34444 |
| SESI LLC |  |  |
| &nbsp;&nbsp;7.875%, due 9/30/30 | 140000 | 141166 |
| Tidewater, Inc. |  |  |
| &nbsp;&nbsp;9.125%, due 7/15/30 | 125000 | 135210 |
|  |  | 663853 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Packaging & Containers — 0.2%** |  |  |
| Berry Global, Inc. |  |  |
| &nbsp;&nbsp;4.875%, due 7/15/26 | $352000 | $352198 |
| Sealed Air Corp/Sealed Air Corp. U.S. |  |  |
| &nbsp;&nbsp;6.125%, due 2/1/28 | 100000 | 101492 |
|  |  | 453690 |
| **Pharmaceuticals — 0.8%** |  |  |
| 1261229 BC Ltd. |  |  |
| &nbsp;&nbsp;10.000%, due 4/15/32 | 70000 | 71838 |
| Bausch Health Cos., Inc., (Canada) |  |  |
| &nbsp;&nbsp;11.000%, due 9/30/28 | 70000 | 72771 |
| BellRing Brands, Inc. |  |  |
| &nbsp;&nbsp;7.000%, due 3/15/30 | 200000 | 205510 |
| CVS Pass-Through Trust |  |  |
| &nbsp;&nbsp;5.926%, due 1/10/34 | 103489 | 106121 |
| Endo Finance Holdings LP |  |  |
| &nbsp;&nbsp;8.500%, due 4/15/31 | 210000 | 222202 |
| Jazz Securities DAC |  |  |
| &nbsp;&nbsp;4.375%, due 1/15/29 | 950000 | 934722 |
| Organon & Co / Organon Foreign Debt Co.-Issuer BV |  |  |
| &nbsp;&nbsp;4.125%, due 4/30/28 | 550000 | 539451 |
| &nbsp;&nbsp;5.125%, due 4/30/31 | 300000 | 272446 |
|  |  | 2425061 |
| **Pipelines — 2.4%** |  |  |
| Antero Midstream Partners LP / Antero Midstream Finance Corp. |  |  |
| &nbsp;&nbsp;5.750%, due 1/15/28 | 300000 | 300119 |
| &nbsp;&nbsp;5.750%, due 10/15/33 | 55000 | 55600 |
| Buckeye Partners LP |  |  |
| &nbsp;&nbsp;6.750%, due 2/1/30 | 45000 | 47149 |
| &nbsp;&nbsp;6.875%, due 7/1/29 | 250000 | 259908 |
| Columbia Pipelines Operating Co. LLC |  |  |
| &nbsp;&nbsp;5.962%, due 2/15/55 | 1040000 | 1029633 |
| DT Midstream, Inc. |  |  |
| &nbsp;&nbsp;4.300%, due 4/15/32 | 605000 | 585139 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, (5 Year US CMT T-Note + 2.68%), due 2/15/56<sup>(a)</sup> | 75000 | 75004 |
| Excelerate Energy LP |  |  |
| &nbsp;&nbsp;8.000%, due 5/15/30 | 150000 | 160407 |
| Flex Intermediate Holdco LLC |  |  |
| &nbsp;&nbsp;3.363%, due 6/30/31 | 635000 | 585053 |
| Global Partners LP / GLP Finance Corp. |  |  |
| &nbsp;&nbsp;6.875%, due 1/15/29 | 150000 | 151901 |
| &nbsp;&nbsp;7.125%, due 7/1/33 | 25000 | 25608 |
| Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;5.500%, due 10/15/30 | 300000 | 303164 |
| ITT Holdings LLC |  |  |
| &nbsp;&nbsp;6.500%, due 8/1/29 | 165000 | 159075 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;6.250%, due 10/15/55 | 575000 | 578098 |
| Plains All American Pipeline LP |  |  |
| &nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;8.223%, (3 Month CME SOFR + 4.37%), due 11/15/74<sup>(a)</sup> | 550000 | 548975 |
| Plains All American Pipeline LP / PAA Finance Corp. |  |  |
| &nbsp;&nbsp;5.600%, due 1/15/36 | 285000 | 289153 |
| Prairie Acquiror LP |  |  |
| &nbsp;&nbsp;9.000%, due 8/1/29 | 75000 | 77790 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Pipelines (continued)** |  |  |
| South Bow Canadian Infrastructure Holdings Ltd., (Canada) |  |  |
| &nbsp;&nbsp;&nbsp;7.625%, (5 Year US CMT T-Note + 3.95%), due 3/1/55<sup>(a)</sup> | $100000 | $104248 |
| Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. |  |  |
| &nbsp;&nbsp;5.500%, due 1/15/28 | 600000 | 599793 |
| &nbsp;&nbsp;6.750%, due 3/15/34 | 90000 | 91594 |
| TransMontaigne Partners LLC |  |  |
| &nbsp;&nbsp;8.500%, due 6/15/30 | 100000 | 103742 |
| Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;7.000%, due 1/15/30 | 50000 | 50310 |
| &nbsp;&nbsp;8.375%, due 6/1/31 | 250000 | 255704 |
| Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;6.125%, due 12/15/30 | 60000 | 61758 |
| &nbsp;&nbsp;6.500%, due 1/15/34 | 85000 | 88213 |
| &nbsp;&nbsp;6.500%, due 6/15/34 | 40000 | 41425 |
| &nbsp;&nbsp;6.750%, due 1/15/36 | 50000 | 52413 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;5.250%, due 2/1/50 | 680000 | 583958 |
|  |  | 7264934 |
| **Real Estate — 0.1%** |  |  |
| Alpha Star Holding IX Ltd., (United Arab Emirates) |  |  |
| &nbsp;&nbsp;7.000%, due 8/26/28 | 200000 | 204720 |
| **REITS — 1.4%** |  |  |
| American Homes 4 Rent LP |  |  |
| &nbsp;&nbsp;2.375%, due 7/15/31 | 905000 | 807765 |
| Blackstone Mortgage Trust, Inc. |  |  |
| &nbsp;&nbsp;7.750%, due 12/1/29 | 65000 | 69675 |
| GLP Capital LP / GLP Financing II, Inc. |  |  |
| &nbsp;&nbsp;4.000%, due 1/15/30 | 930000 | 904905 |
| Invitation Homes Operating Partnership LP |  |  |
| &nbsp;&nbsp;2.000%, due 8/15/31 | 585000 | 509473 |
| Iron Mountain, Inc. |  |  |
| &nbsp;&nbsp;5.250%, due 3/15/28 | 100000 | 99971 |
| Millrose Properties, Inc. |  |  |
| &nbsp;&nbsp;6.250%, due 9/15/32 | 40000 | 40451 |
| &nbsp;&nbsp;6.375%, due 8/1/30 | 100000 | 102068 |
| MPT Operating Partnership LP / MPT Finance Corp. |  |  |
| &nbsp;&nbsp;5.000%, due 10/15/27 | 100000 | 97775 |
| &nbsp;&nbsp;8.500%, due 2/15/32 | 100000 | 107136 |
| RHP Hotel Properties LP / RHP Finance Corp. |  |  |
| &nbsp;&nbsp;4.500%, due 2/15/29 | 250000 | 246381 |
| &nbsp;&nbsp;6.500%, due 4/1/32 | 50000 | 51708 |
| &nbsp;&nbsp;6.500%, due 6/15/33 | 55000 | 57013 |
| &nbsp;&nbsp;7.250%, due 7/15/28 | 100000 | 102958 |
| Starwood Property Trust, Inc. |  |  |
| &nbsp;&nbsp;5.750%, due 1/15/31 | 60000 | 60754 |
| &nbsp;&nbsp;6.500%, due 7/1/30 | 100000 | 104136 |
| Trust 2401, (Mexico) |  |  |
| &nbsp;&nbsp;7.375%, due 2/13/34 | 685000 | 748808 |
| Vornado Realty LP |  |  |
| &nbsp;&nbsp;5.750%, due 2/1/33 | 90000 | 91029 |
|  |  | 4202006 |
| **Retail — 1.3%** |  |  |
| 1011778 BC ULC / New Red Finance, Inc., (Canada) |  |  |
| &nbsp;&nbsp;3.875%, due 1/15/28 | 100000 | 98508 |
| &nbsp;&nbsp;4.000%, due 10/15/30 | 500000 | 477063 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Retail (continued)** |  |  |
| &nbsp;&nbsp;6.125%, due 6/15/29 | $100000 | $102517 |
| Arcos Dorados BV, (Brazil) |  |  |
| &nbsp;&nbsp;6.375%, due 1/29/32 | 820000 | 859770 |
| Asbury Automotive Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, due 3/1/30<sup>(d)</sup> | 250000 | 246130 |
| &nbsp;&nbsp;5.000%, due 2/15/32 | 100000 | 97180 |
| AutoNation, Inc. |  |  |
| &nbsp;&nbsp;4.750%, due 6/1/30 | 313000 | 315739 |
| Beacon Roofing Supply, Inc. |  |  |
| &nbsp;&nbsp;6.750%, due 4/30/32 | 100000 | 103048 |
| Ken Garff Automotive LLC |  |  |
| &nbsp;&nbsp;4.875%, due 9/15/28 | 100000 | 99313 |
| LCM Investments Holdings II LLC |  |  |
| &nbsp;&nbsp;4.875%, due 5/1/29 | 290000 | 285762 |
| Lithia Motors, Inc. |  |  |
| &nbsp;&nbsp;5.500%, due 10/1/30 | 60000 | 60267 |
| Papa John's International, Inc. |  |  |
| &nbsp;&nbsp;3.875%, due 9/15/29 | 100000 | 95485 |
| PetSmart LLC / PetSmart Finance Corp. |  |  |
| &nbsp;&nbsp;7.500%, due 9/15/32 | 425000 | 435821 |
| Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;4.625%, due 1/31/32 | 400000 | 391108 |
| &nbsp;&nbsp;5.375%, due 4/1/32 | 100000 | 101284 |
|  |  | 3768995 |
| **Savings & Loans — 0.3%** |  |  |
| Nationwide Building Society, (United Kingdom) |  |  |
| &nbsp;&nbsp;&nbsp;2.972%, (SOFR + 1.29%), due 2/16/28<sup>(a)</sup> | 960000 | 949620 |
| **Semiconductors — 0.2%** |  |  |
| Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;6.200%, due 1/25/37 | 595000 | 628696 |
| **Software — 1.0%** |  |  |
| Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;6.500%, due 3/31/29 | 500000 | 496884 |
| &nbsp;&nbsp;9.000%, due 9/30/29 | 100000 | 100977 |
| MSCI, Inc. |  |  |
| &nbsp;&nbsp;3.875%, due 2/15/31 | 145000 | 139157 |
| &nbsp;&nbsp;5.150%, due 3/15/36 | 145000 | 143017 |
| Open Text Holdings, Inc., (Canada) |  |  |
| &nbsp;&nbsp;4.125%, due 2/15/30 | 475000 | 441232 |
| &nbsp;&nbsp;4.125%, due 12/1/31 | 70000 | 62886 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;6.100%, due 9/26/65 | 325000 | 283150 |
| PTC, Inc. |  |  |
| &nbsp;&nbsp;4.000%, due 2/15/28 | 100000 | 98543 |
| SS&C Technologies, Inc. |  |  |
| &nbsp;&nbsp;5.500%, due 9/30/27 | 500000 | 499568 |
| &nbsp;&nbsp;6.500%, due 6/1/32 | 300000 | 309727 |
| UKG, Inc. |  |  |
| &nbsp;&nbsp;6.875%, due 2/1/31 | 450000 | 449637 |
|  |  | 3024778 |
| **Sovereign & Agency — 0.5%** |  |  |
| Colombia Government International Bond, (Colombia) |  |  |
| &nbsp;&nbsp;7.750%, due 11/7/36 | 675000 | 705172 |
| Eagle Funding Luxco SARL, (Mexico) |  |  |
| &nbsp;&nbsp;5.500%, due 8/17/30 | 885000 | 899001 |
|  |  | 1604173 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Telecommunications — 0.7%** |  |  |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;3.500%, due 9/15/53 | $585000 | $390750 |
| Cipher Compute LLC |  |  |
| &nbsp;&nbsp;7.125%, due 11/15/30 | 170000 | 175170 |
| EchoStar Corp. |  |  |
| &nbsp;&nbsp;6.750%, due 11/30/30 | 157599 | 160394 |
| &nbsp;&nbsp;10.750%, due 11/30/29 | 100000 | 109622 |
| Iliad Holding SAS, (France) |  |  |
| &nbsp;&nbsp;8.500%, due 4/15/31 | 215000 | 230226 |
| Rogers Communications, Inc., (Canada) |  |  |
| &nbsp;&nbsp;&nbsp;7.000%, (5 Year US CMT T-Note + 2.65%), due 4/15/55<sup>(a)</sup> | 145000 | 150404 |
| TELUS Corp., (Canada) |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, (5 Year US CMT T-Note + 2.69%), due 6/9/56<sup>(a)</sup> | 60000 | 60620 |
| Total Play Telecomunicaciones SA de CV, (Mexico) |  |  |
| &nbsp;&nbsp;11.125%, due 12/31/32 | 280000 | 268800 |
| Uniti Group LP / Uniti Group Finance 2019, Inc. / CSL Capital LLC |  |  |
| &nbsp;&nbsp;4.750%, due 4/15/28 | 100000 | 99783 |
| &nbsp;&nbsp;6.500%, due 2/15/29 | 90000 | 87533 |
| Viasat, Inc. |  |  |
| &nbsp;&nbsp;6.500%, due 7/15/28 | 65000 | 64161 |
| Windstream Services LLC / Windstream Escrow Finance Corp. |  |  |
| &nbsp;&nbsp;8.250%, due 10/1/31 | 150000 | 157129 |
|  |  | 1954592 |
| **Transportation — 0.2%** |  |  |
| Seaspan Corp., (Hong Kong) |  |  |
| &nbsp;&nbsp;5.500%, due 8/1/29 | 125000 | 118883 |
| Star Leasing Co. LLC |  |  |
| &nbsp;&nbsp;7.625%, due 2/15/30 | 295000 | 282314 |
| Watco Cos. LLC / Watco Finance Corp. |  |  |
| &nbsp;&nbsp;7.125%, due 8/1/32 | 300000 | 314487 |
|  |  | 715684 |
| **Water — 0.3%** |  |  |
| Aegea Finance Sarl, (Brazil) |  |  |
| &nbsp;&nbsp;9.000%, due 1/20/31 | 829000 | 881032 |
| **Total Corporate Bonds** |  |  |
| &nbsp;&nbsp;**(Cost $133,425,602)** |  | 134940701 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies — 27.5%** |  |  |
| **Mortgage Securities — 16.6%** |  |  |
| Fannie Mae Interest Strip |  |  |
| &nbsp;&nbsp;Series 2022-426 C32 |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, due 2/25/52<sup>(f)</sup> | $2524043 | $239782 |
| &nbsp;&nbsp;Series 2023-429 C5 |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 10/25/52<sup>(f)</sup> | 1789076 | 323919 |
| &nbsp;&nbsp;Series 2023-438 C34 |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, due 8/25/53<sup>(f)</sup> | 1058322 | 234200 |
| &nbsp;&nbsp;Series 2024-440 C46 |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 10/25/53<sup>(f)</sup> | 2018811 | 427387 |
| Fannie Mae Pool |  |  |
| &nbsp;&nbsp;Series 2020-FM5299 |  |  |
| &nbsp;&nbsp;3.500%, due 11/1/50 | 216810 | 201186 |
| &nbsp;&nbsp;Series 2021-MA4492 |  |  |
| &nbsp;&nbsp;2.000%, due 12/1/51 | 362504 | 295246 |
| &nbsp;&nbsp;Series 2022-CB3155 |  |  |
| &nbsp;&nbsp;2.000%, due 3/1/52 | 352414 | 286187 |
| &nbsp;&nbsp;Series 2023-FP0087 |  |  |
| &nbsp;&nbsp;2.000%, due 10/1/50 | 1582109 | 1292230 |
| &nbsp;&nbsp;Series 2023-FS3603 |  |  |
| &nbsp;&nbsp;5.500%, due 8/1/53 | 579218 | 594376 |
| &nbsp;&nbsp;Series 2023-FS5641 |  |  |
| &nbsp;&nbsp;6.000%, due 8/1/53 | 361859 | 373671 |
| &nbsp;&nbsp;Series 2023-MA4918 |  |  |
| &nbsp;&nbsp;5.000%, due 2/1/53 | 527122 | 529130 |
| &nbsp;&nbsp;Series 2023-MA4919 |  |  |
| &nbsp;&nbsp;5.500%, due 2/1/53 | 406490 | 413668 |
| &nbsp;&nbsp;Series 2023-MA5108 |  |  |
| &nbsp;&nbsp;6.000%, due 8/1/53 | 856891 | 881954 |
| &nbsp;&nbsp;Series 2023-MA5139 |  |  |
| &nbsp;&nbsp;6.000%, due 9/1/53 | 359971 | 370350 |
| &nbsp;&nbsp;Series 2024-FS7587 |  |  |
| &nbsp;&nbsp;5.500%, due 4/1/54 | 549410 | 562036 |
| &nbsp;&nbsp;Series 2024-FS8275 |  |  |
| &nbsp;&nbsp;5.500%, due 6/1/54 | 1810491 | 1838185 |
| &nbsp;&nbsp;Series 2024-FS9453 |  |  |
| &nbsp;&nbsp;4.500%, due 8/1/53 | 752371 | 741030 |
| &nbsp;&nbsp;Series 2024-MA5353 |  |  |
| &nbsp;&nbsp;5.500%, due 5/1/54 | 465941 | 472749 |
| Fannie Mae REMICS |  |  |
| &nbsp;&nbsp;Series 2016-19 SD |  |  |
| &nbsp;&nbsp;&nbsp;2.288%, (1 Month SOFR + 5.99%), due 4/25/46<sup>(a)(f)</sup> | 1076556 | 100456 |
| &nbsp;&nbsp;Series 2016-57 SN |  |  |
| &nbsp;&nbsp;&nbsp;2.238%, (1 Month SOFR + 5.94%), due 6/25/46<sup>(a)(f)</sup> | 505366 | 54782 |
| &nbsp;&nbsp;Series 2019-32 SB |  |  |
| &nbsp;&nbsp;&nbsp;2.238%, (1 Month SOFR + 5.94%), due 6/25/49<sup>(a)(f)</sup> | 852224 | 92405 |
| &nbsp;&nbsp;Series 2020-57 LJ |  |  |
| &nbsp;&nbsp;2.000%, due 8/25/50 | 790000 | 603534 |
| &nbsp;&nbsp;Series 2020-70 SD |  |  |
| &nbsp;&nbsp;&nbsp;2.438%, (1 Month SOFR + 6.14%), due 10/25/50<sup>(a)(f)</sup> | 700638 | 86921 |
| &nbsp;&nbsp;Series 2021-12 JI |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 3/25/51<sup>(f)</sup> | 558049 | 87617 |
| &nbsp;&nbsp;Series 2021-3 TI |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 2/25/51<sup>(f)</sup> | 638367 | 108660 |
| &nbsp;&nbsp;Series 2021-34 IS |  |  |
| &nbsp;&nbsp;&nbsp;0.141%, (1 Month SOFR + 2.91%), due 11/25/42<sup>(a)(f)</sup> | 2459794 | 59449 |
| &nbsp;&nbsp;Series 2021-34 MI |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 3/25/51<sup>(f)</sup> | 1185640 | 156809 |
| &nbsp;&nbsp;Series 2021-54 HI |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 6/25/51<sup>(f)</sup> | 159867 | 18762 |
| &nbsp;&nbsp;Series 2021-8 ID |  |  |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, due 3/25/51<sup>(f)</sup> | $1326001 | $283548 |
| &nbsp;&nbsp;Series 2022-10 SA |  |  |
| &nbsp;&nbsp;&nbsp;2.053%, (1 Month SOFR + 5.75%), due 2/25/52<sup>(a)(f)</sup> | 722938 | 82357 |
| &nbsp;&nbsp;Series 2023-24 OQ |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 7/25/54<sup>(e)(g)</sup> | 466702 | 394507 |
| &nbsp;&nbsp;Series 2024-48 SB |  |  |
| &nbsp;&nbsp;&nbsp;2.203%, (1 Month SOFR + 5.90%), due 7/25/54<sup>(a)(f)</sup> | 3244349 | 178999 |
| &nbsp;&nbsp;Series 2024-82 DS |  |  |
| &nbsp;&nbsp;&nbsp;1.453%, (1 Month SOFR + 5.15%), due 11/25/54<sup>(a)(f)</sup> | 1820272 | 57523 |
| &nbsp;&nbsp;Series 2025-103 SA |  |  |
| &nbsp;&nbsp;&nbsp;2.133%, (1 Month SOFR + 5.83%), due 6/25/55<sup>(a)(f)</sup> | 1268093 | 79014 |
| &nbsp;&nbsp;Series 2025-18 SM |  |  |
| &nbsp;&nbsp;&nbsp;3.403%, (1 Month SOFR + 7.10%), due 9/25/54<sup>(a)(f)</sup> | 660766 | 46089 |
| &nbsp;&nbsp;Series 2025-44 SD |  |  |
| &nbsp;&nbsp;&nbsp;1.403%, (1 Month SOFR + 5.10%), due 6/25/55<sup>(a)(f)</sup> | 2417238 | 91740 |
| Freddie Mac Gold Pool |  |  |
| &nbsp;&nbsp;Series 2025-Z40283 |  |  |
| &nbsp;&nbsp;3.500%, due 9/1/47 | 509535 | 480156 |
| &nbsp;&nbsp;Series 2026-Z40295 |  |  |
| &nbsp;&nbsp;3.500%, due 11/1/47 | 940000 | 885422 |
| &nbsp;&nbsp;Series 2026-Z40296 |  |  |
| &nbsp;&nbsp;3.000%, due 1/1/43 | 815000 | 755383 |
| Freddie Mac Multifamily Structured Pass Through Certificates |  |  |
| &nbsp;&nbsp;Series 2024-K758 A2 |  |  |
| &nbsp;&nbsp;&nbsp;4.680%, due 10/25/31<sup>(a)(c)</sup> | 1260000 | 1290189 |
| Freddie Mac Pool |  |  |
| &nbsp;&nbsp;Series 2022-RA6622 |  |  |
| &nbsp;&nbsp;2.500%, due 1/1/52 | 803860 | 693846 |
| &nbsp;&nbsp;Series 2022-SD8215 |  |  |
| &nbsp;&nbsp;4.000%, due 5/1/52 | 219633 | 211029 |
| &nbsp;&nbsp;Series 2022-SD8220 |  |  |
| &nbsp;&nbsp;3.000%, due 6/1/52 | 1127439 | 1001307 |
| &nbsp;&nbsp;Series 2022-SD8243 |  |  |
| &nbsp;&nbsp;3.500%, due 9/1/52 | 2449073 | 2267696 |
| &nbsp;&nbsp;Series 2022-SD8257 |  |  |
| &nbsp;&nbsp;4.500%, due 10/1/52 | 1352353 | 1330296 |
| &nbsp;&nbsp;Series 2023-SD3392 |  |  |
| &nbsp;&nbsp;5.500%, due 7/1/53 | 272479 | 279688 |
| &nbsp;&nbsp;Series 2023-SD3770 |  |  |
| &nbsp;&nbsp;2.500%, due 3/1/52 | 182014 | 157358 |
| &nbsp;&nbsp;Series 2024-SD5040 |  |  |
| &nbsp;&nbsp;5.500%, due 3/1/54 | 542074 | 554584 |
| &nbsp;&nbsp;Series 2024-SD5184 |  |  |
| &nbsp;&nbsp;4.000%, due 3/1/53 | 978718 | 940376 |
| &nbsp;&nbsp;Series 2024-SD6766 |  |  |
| &nbsp;&nbsp;5.500%, due 11/1/54 | 358052 | 364831 |
| &nbsp;&nbsp;Series 2024-SD8407 |  |  |
| &nbsp;&nbsp;5.000%, due 3/1/54 | 623932 | 624485 |
| &nbsp;&nbsp;Series 2025-SL0849 |  |  |
| &nbsp;&nbsp;6.000%, due 4/1/55 | 449705 | 460464 |
| &nbsp;&nbsp;Series 2025-SL2053 |  |  |
| &nbsp;&nbsp;6.000%, due 8/1/55 | 687310 | 703892 |
| Freddie Mac REMICS |  |  |
| &nbsp;&nbsp;Series 2020-4988 LP |  |  |
| &nbsp;&nbsp;1.250%, due 6/25/50 | 619107 | 495526 |
| &nbsp;&nbsp;Series 2020-4993 KS |  |  |
| &nbsp;&nbsp;&nbsp;2.238%, (1 Month SOFR + 5.934%), due 7/25/50<sup>(a)(f)</sup> | 1351783 | 180793 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| &nbsp;&nbsp;Series 2020-4994 TS |  |  |
| &nbsp;&nbsp;&nbsp;2.288%, (1 Month SOFR + 5.99%), due 7/25/50<sup>(a)(f)</sup> | $665909 | $85109 |
| &nbsp;&nbsp;Series 2020-5013 DI |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 9/25/50<sup>(f)</sup> | 1472760 | 263921 |
| &nbsp;&nbsp;Series 2020-5021 SA |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 3.55%), due 10/25/50<sup>(a)(f)</sup> | 723497 | 14740 |
| &nbsp;&nbsp;Series 2020-5031 IQ |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 10/25/50<sup>(f)</sup> | 452974 | 70970 |
| &nbsp;&nbsp;Series 2020-5038 IB |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 10/25/50<sup>(f)</sup> | 434292 | 67370 |
| &nbsp;&nbsp;Series 2020-5040 IO |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, due 11/25/50<sup>(f)</sup> | 643803 | 117653 |
| &nbsp;&nbsp;Series 2021-5070 PI |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 8/25/50<sup>(f)</sup> | 757344 | 134686 |
| &nbsp;&nbsp;Series 2022-5191 IO |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, due 9/25/50<sup>(f)</sup> | 761875 | 136301 |
| &nbsp;&nbsp;Series 2023-5304 UB |  |  |
| &nbsp;&nbsp;4.000%, due 2/25/52 | 312508 | 294739 |
| &nbsp;&nbsp;Series 2023-5315 OQ |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 1/25/55<sup>(e)(g)</sup> | 410717 | 339082 |
| &nbsp;&nbsp;Series 2023-5326 QO |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 9/25/50<sup>(e)(g)</sup> | 315792 | 213740 |
| &nbsp;&nbsp;Series 2023-5328 JY |  |  |
| &nbsp;&nbsp;0.250%, due 9/25/50 | 674927 | 474886 |
| &nbsp;&nbsp;Series 2023-5351 DO |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 9/25/53<sup>(e)(g)</sup> | 311219 | 251432 |
| &nbsp;&nbsp;Series 2023-5351 EO |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 10/25/53<sup>(e)(g)</sup> | 232993 | 194759 |
| &nbsp;&nbsp;Series 2023-5363 |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 12/25/53<sup>(e)(g)</sup> | 269250 | 231092 |
| &nbsp;&nbsp;Series 2024-5471 SK |  |  |
| &nbsp;&nbsp;&nbsp;1.653%, (1 Month SOFR + 5.35%), due 8/25/54<sup>(a)(f)</sup> | 4545134 | 163698 |
| &nbsp;&nbsp;Series 2024-5472 SB |  |  |
| &nbsp;&nbsp;&nbsp;1.653%, (1 Month SOFR + 5.35%), due 11/25/54<sup>(a)(f)</sup> | 4755849 | 182902 |
| &nbsp;&nbsp;Series 2025-5514 SA |  |  |
| &nbsp;&nbsp;&nbsp;1.403%, (1 Month SOFR + 5.10%), due 3/25/55<sup>(a)(f)</sup> | 1443856 | 43514 |
| &nbsp;&nbsp;Series 2025-5531 SD |  |  |
| &nbsp;&nbsp;&nbsp;2.203%, (1 Month SOFR + 5.90%), due 4/25/55<sup>(a)(f)</sup> | 1849293 | 115768 |
| &nbsp;&nbsp;Series 2025-5547 ES |  |  |
| &nbsp;&nbsp;&nbsp;3.303%, (1 Month SOFR + 7.00%), due 6/25/55<sup>(a)(f)</sup> | 784349 | 53431 |
| Freddie Mac STACR REMIC Trust |  |  |
| &nbsp;&nbsp;Series 2020-HQA1 B2 |  |  |
| &nbsp;&nbsp;&nbsp;8.912%, (1 Month SOFR + 5.21%), due 1/25/50<sup>(a)</sup> | 815000 | 908403 |
| &nbsp;&nbsp;Series 2022-DNA3 M2 |  |  |
| &nbsp;&nbsp;&nbsp;8.047%, (1 Month SOFR + 4.35%), due 4/25/42<sup>(a)</sup> | 565000 | 587455 |
| &nbsp;&nbsp;Series 2022-HQA3 M2 |  |  |
| &nbsp;&nbsp;&nbsp;9.047%, (1 Month SOFR + 5.35%), due 8/25/42<sup>(a)</sup> | 285000 | 303308 |
| &nbsp;&nbsp;Series 2025-DNA1 M2 |  |  |
| &nbsp;&nbsp;&nbsp;5.047%, (1 Month SOFR + 1.35%), due 1/25/45<sup>(a)</sup> | 455000 | 455415 |
| &nbsp;&nbsp;Series 2025-HQA1 M2 |  |  |
| &nbsp;&nbsp;&nbsp;5.347%, (1 Month SOFR + 1.65%), due 2/25/45<sup>(a)</sup> | 1000000 | 1002186 |
| Freddie Mac STACR Trust |  |  |
| &nbsp;&nbsp;Series 2019-HQA2 B2 |  |  |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;15.062%, (1 Month SOFR + 11.36%), due 4/25/49<sup>(a)</sup> | $600000 | $719815 |
| Freddie Mac Strips |  |  |
| &nbsp;&nbsp;Series 2012-272 |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 8/15/42<sup>(e)(g)</sup> | 440945 | 342612 |
| &nbsp;&nbsp;Series 2013-311 S1 |  |  |
| &nbsp;&nbsp;&nbsp;2.128%, (1 Month SOFR + 5.84%), due 8/15/43<sup>(a)(f)</sup> | 685382 | 70821 |
| &nbsp;&nbsp;Series 2023-397 C61 |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 1/25/53<sup>(f)</sup> | 835652 | 144083 |
| &nbsp;&nbsp;Series 2023-402 |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 9/25/53<sup>(e)(g)</sup> | 385043 | 326964 |
| Ginnie Mae II Pool |  |  |
| &nbsp;&nbsp;Series 2021-MA7409 |  |  |
| &nbsp;&nbsp;2.000%, due 6/20/51 | 515510 | 419473 |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;Series 2016-93 AI |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, due 7/20/44<sup>(f)</sup> | 904388 | 210651 |
| &nbsp;&nbsp;Series 2019-128 YF |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, (1 Month CME SOFR + 0.76%), due 10/20/49<sup>(a)</sup> | 230322 | 209243 |
| &nbsp;&nbsp;Series 2019-159 P |  |  |
| &nbsp;&nbsp;2.500%, due 9/20/49 | 515076 | 452204 |
| &nbsp;&nbsp;Series 2020-1 YS |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month CME SOFR + 2.72%), due 1/20/50<sup>(a)(f)</sup> | 1180431 | 4963 |
| &nbsp;&nbsp;Series 2020-129 SB |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month CME SOFR + 3.09%), due 9/20/50<sup>(a)(f)</sup> | 1513368 | 11330 |
| &nbsp;&nbsp;Series 2020-146 KI |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 10/20/50<sup>(f)</sup> | 1279021 | 189108 |
| &nbsp;&nbsp;Series 2020-146 SA |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 10/20/50<sup>(a)(f)</sup> | 752784 | 101697 |
| &nbsp;&nbsp;Series 2020-168 IA |  |  |
| &nbsp;&nbsp;&nbsp;0.974%, due 12/16/62<sup>(a)(c)(f)</sup> | 1466419 | 104226 |
| &nbsp;&nbsp;Series 2020-175 CS |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 11/20/50<sup>(a)(f)</sup> | 824668 | 106719 |
| &nbsp;&nbsp;Series 2020-189 SU |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 12/20/50<sup>(a)(f)</sup> | 712617 | 101043 |
| &nbsp;&nbsp;Series 2020-34 SC |  |  |
| &nbsp;&nbsp;&nbsp;2.260%, (1 Month CME SOFR + 5.94%), due 3/20/50<sup>(a)(f)</sup> | 785162 | 98465 |
| &nbsp;&nbsp;Series 2021-1 IT |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 1/20/51<sup>(f)</sup> | 1140211 | 197832 |
| &nbsp;&nbsp;Series 2021-1 PI |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 12/20/50<sup>(f)</sup> | 630902 | 96489 |
| &nbsp;&nbsp;Series 2021-122 HS |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 7/20/51<sup>(a)(f)</sup> | 1045602 | 142527 |
| &nbsp;&nbsp;Series 2021-146 IN |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, due 8/20/51<sup>(f)</sup> | 958729 | 167164 |
| &nbsp;&nbsp;Series 2021-158 SB |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 3.70%), due 9/20/51<sup>(a)(f)</sup> | 892641 | 23905 |
| &nbsp;&nbsp;Series 2021-16 AS |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month CME SOFR + 2.64%), due 1/20/51<sup>(a)(f)</sup> | 2063827 | 6510 |
| &nbsp;&nbsp;Series 2021-179 SA |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 11/20/50<sup>(a)(f)</sup> | 1190947 | 166923 |
| &nbsp;&nbsp;Series 2021-188 IO |  |  |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 10/20/51<sup>(f)</sup> | $3215829 | $529083 |
| &nbsp;&nbsp;Series 2021-205 DS |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 3.20%), due 11/20/51<sup>(a)(f)</sup> | 2813191 | 28447 |
| &nbsp;&nbsp;Series 2021-226 SA |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 1.70%), due 12/20/51<sup>(a)(f)</sup> | 1626053 | 1403 |
| &nbsp;&nbsp;Series 2021-29 AS |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 2.70%), due 2/20/51<sup>(a)(f)</sup> | 1966054 | 7084 |
| &nbsp;&nbsp;Series 2021-42 BI |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 3/20/51<sup>(f)</sup> | 521124 | 76197 |
| &nbsp;&nbsp;Series 2021-46 QS |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 3/20/51<sup>(a)(f)</sup> | 472758 | 62005 |
| &nbsp;&nbsp;Series 2021-46 TS |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 3/20/51<sup>(a)(f)</sup> | 604764 | 79330 |
| &nbsp;&nbsp;Series 2021-47 IO |  |  |
| &nbsp;&nbsp;&nbsp;0.992%, due 3/16/61<sup>(a)(c)(f)</sup> | 3431199 | 226781 |
| &nbsp;&nbsp;Series 2021-49 SB |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 3/20/51<sup>(a)(f)</sup> | 692030 | 90351 |
| &nbsp;&nbsp;Series 2021-57 SA |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 3/20/51<sup>(a)(f)</sup> | 1814758 | 238998 |
| &nbsp;&nbsp;Series 2021-57 SD |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 3/20/51<sup>(a)(f)</sup> | 1901086 | 253665 |
| &nbsp;&nbsp;Series 2021-67 PI |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 4/20/51<sup>(f)</sup> | 653591 | 111082 |
| &nbsp;&nbsp;Series 2021-74 HI |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 4/20/51<sup>(f)</sup> | 152836 | 22894 |
| &nbsp;&nbsp;Series 2021-96 GP |  |  |
| &nbsp;&nbsp;1.000%, due 6/20/51 | 506434 | 393154 |
| &nbsp;&nbsp;Series 2021-97 SA |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 2.60%), due 6/20/51<sup>(a)(f)</sup> | 3937168 | 17296 |
| &nbsp;&nbsp;Series 2021-97 SM |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 6/20/51<sup>(a)(f)</sup> | 1090326 | 146898 |
| &nbsp;&nbsp;Series 2021-98 IN |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 6/20/51<sup>(f)</sup> | 529503 | 96159 |
| &nbsp;&nbsp;Series 2022-101 SB |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 3.30%), due 6/20/52<sup>(a)(f)</sup> | 1039494 | 10260 |
| &nbsp;&nbsp;Series 2022-107 SA |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 3.47%), due 6/20/52<sup>(a)(f)</sup> | 5243676 | 54771 |
| &nbsp;&nbsp;Series 2022-185 DI |  |  |
| &nbsp;&nbsp;&nbsp;1.022%, due 10/16/65<sup>(a)(c)(f)</sup> | 1281179 | 87516 |
| &nbsp;&nbsp;Series 2022-221 C |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 6/16/64<sup>(a)(c)</sup> | 395000 | 264567 |
| &nbsp;&nbsp;Series 2022-34 HS |  |  |
| &nbsp;&nbsp;&nbsp;0.397%, (1 Month SOFR + 4.10%), due 2/20/52<sup>(a)(f)</sup> | 2068028 | 92876 |
| &nbsp;&nbsp;Series 2022-78 S |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 3.70%), due 4/20/52<sup>(a)(f)</sup> | 1089067 | 20143 |
| &nbsp;&nbsp;Series 2022-87 SA |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 3.30%), due 5/20/52<sup>(a)(f)</sup> | 2078040 | 19956 |
| &nbsp;&nbsp;Series 2023-101 KO |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 1/20/51<sup>(e)(g)</sup> | 1033366 | 682122 |
| &nbsp;&nbsp;Series 2023-114 MO |  |  |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 8/20/53<sup>(e)(g)</sup> | $180969 | $152533 |
| &nbsp;&nbsp;Series 2023-159 CI |  |  |
| &nbsp;&nbsp;&nbsp;0.955%, due 7/16/65<sup>(a)(c)(f)</sup> | 2837091 | 198406 |
| &nbsp;&nbsp;Series 2023-172 IO |  |  |
| &nbsp;&nbsp;&nbsp;1.331%, due 2/16/66<sup>(a)(c)(f)</sup> | 1940464 | 176597 |
| &nbsp;&nbsp;Series 2023-194 CI |  |  |
| &nbsp;&nbsp;&nbsp;0.818%, due 10/16/65<sup>(a)(c)(f)</sup> | 2178378 | 134006 |
| &nbsp;&nbsp;Series 2023-38 WT |  |  |
| &nbsp;&nbsp;&nbsp;6.464%, due 12/20/51<sup>(a)(c)</sup> | 257394 | 271639 |
| &nbsp;&nbsp;Series 2023-53 |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 4/20/53<sup>(e)(g)</sup> | 194539 | 159671 |
| &nbsp;&nbsp;Series 2023-55 CG |  |  |
| &nbsp;&nbsp;&nbsp;7.833%, due 7/20/51<sup>(a)(c)</sup> | 408196 | 464736 |
| &nbsp;&nbsp;Series 2023-55 LB |  |  |
| &nbsp;&nbsp;&nbsp;7.722%, due 11/20/51<sup>(a)(c)</sup> | 395917 | 452005 |
| &nbsp;&nbsp;Series 2023-56 SK |  |  |
| &nbsp;&nbsp;&nbsp;2.260%, (1 Month CME SOFR + 5.94%), due 4/20/51<sup>(a)(f)</sup> | 2053257 | 220661 |
| &nbsp;&nbsp;Series 2023-59 YC |  |  |
| &nbsp;&nbsp;&nbsp;7.076%, due 9/20/51<sup>(a)(c)</sup> | 570255 | 628107 |
| &nbsp;&nbsp;Series 2023-60 ES |  |  |
| &nbsp;&nbsp;&nbsp;3.794%, (1 Month SOFR + 11.20%), due 4/20/53<sup>(a)</sup> | 395180 | 366644 |
| &nbsp;&nbsp;Series 2023-66 MP |  |  |
| &nbsp;&nbsp;&nbsp;4.894%, (1 Month SOFR + 12.30%), due 5/20/53<sup>(a)</sup> | 531254 | 505322 |
| &nbsp;&nbsp;Series 2023-66 OQ |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 7/20/52<sup>(e)(g)</sup> | 705097 | 569978 |
| &nbsp;&nbsp;Series 2023-80 SA |  |  |
| &nbsp;&nbsp;&nbsp;1.547%, (1 Month SOFR + 5.25%), due 6/20/53<sup>(a)(f)</sup> | 2008471 | 89165 |
| &nbsp;&nbsp;Series 2023-86 SE |  |  |
| &nbsp;&nbsp;&nbsp;2.947%, (1 Month SOFR + 6.65%), due 9/20/50<sup>(a)(f)</sup> | 728442 | 109507 |
| &nbsp;&nbsp;Series 2024-29 B |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 8/16/64<sup>(a)(c)</sup> | 635000 | 465675 |
| &nbsp;&nbsp;Series 2024-48 JI |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 7/20/51<sup>(f)</sup> | 1146782 | 193304 |
| &nbsp;&nbsp;Series 2024-51 SX |  |  |
| &nbsp;&nbsp;&nbsp;1.497%, (1 Month SOFR + 5.20%), due 3/20/54<sup>(a)(f)</sup> | 5176139 | 203539 |
| &nbsp;&nbsp;Series 2025-112 IO |  |  |
| &nbsp;&nbsp;&nbsp;0.566%, due 3/16/66<sup>(a)(c)(f)</sup> | 3436663 | 176336 |
| &nbsp;&nbsp;Series 2025-131 S |  |  |
| &nbsp;&nbsp;&nbsp;2.347%, (1 Month SOFR + 6.05%), due 8/20/55<sup>(a)(f)</sup> | 982252 | 76484 |
| &nbsp;&nbsp;Series 2025-2 WZ |  |  |
| &nbsp;&nbsp;2.000%, due 8/20/52 | 1004882 | 648218 |
| &nbsp;&nbsp;Series 2025-2 Z |  |  |
| &nbsp;&nbsp;3.500%, due 1/20/55 | 1144301 | 922335 |
| &nbsp;&nbsp;Series 2025-37 B |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, due 3/16/66<sup>(a)(c)</sup> | 535000 | 468891 |
| Seasoned Credit Risk Transfer Trust Series |  |  |
| &nbsp;&nbsp;Series 2025-1 MTU |  |  |
| &nbsp;&nbsp;3.250%, due 11/25/64 | 1101129 | 958321 |
|  |  | 49684224 |
| **U.S. Treasury Bond — 4.5%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 11/15/45<sup>(d)</sup> | 8780000 | 8539922 |
| &nbsp;&nbsp;4.625%, due 11/15/55 | 5060000 | 4849694 |
|  |  | 13389616 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **U.S. Treasury Note — 6.4%** |  |  |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;3.500%, due 1/31/28 | $540000 | $539641 |
| &nbsp;&nbsp;3.500%, due 1/15/29 | 725000 | 722904 |
| &nbsp;&nbsp;3.750%, due 1/31/31 | 4250000 | 4239375 |
| &nbsp;&nbsp;4.000%, due 1/31/33 | 9090000 | 9074377 |
| &nbsp;&nbsp;&nbsp;4.000%, due 11/15/35<sup>(d)</sup> | 4745000 | 4647876 |
|  |  | 19224173 |
| **Total U.S. Government & Federal Agencies** |  |  |
| &nbsp;&nbsp;**(Cost $82,473,287)** |  | 82298013 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Short-Term Investments — 4.6%** |  |  |
| **Money Market Funds — 4.6%** |  |  |
| BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 3.54%<sup>(h)</sup> | 4081480 | 4081480 |
| Dreyfus Government Cash Management Fund, Institutional Shares, 3.58%<sup>(h)(i)</sup> | 9753632 | 9753632 |
| **Total Short-Term Investments** |  |  |
| &nbsp;&nbsp;**(Cost $13,835,112)** |  | 13835112 |
| **Total Investments — 102.6%<br> (Cost $306,018,793)** |  | 307368203 |
| **Other Assets and Liabilities,<br> Net — (2.6)%** |  | (7885051) |
| **Net Assets — 100.0%** |  | $299483152 |

---

(a) Variable rate securities that may
 be tendered back to the issuer at any time prior to maturity at par. Rate shown is the rate in effect as of January 31, 2026.

(b) Less than 0.05%.

(c) Adjustable rate security with an interest rate that is
 not based on a published reference index and spread. The rate is based on the structure of the agreement and current market conditions.

(d) All or a portion of the security was on loan. In addition,
 "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities
 on loan was $14,348,482; total market value of collateral held by the Fund was $14,841,539. Market value of the collateral held includes
 non-cash U.S. Treasury securities collateral having a value of $5,087,907.

(e) The security was issued on a discount basis with no stated
 coupon rate. Rate shown reflects the effective yield.

(f) Interest only security. An interest only security is
 the interest only portion of a fixed income security, which is separated and sold individually from the principal portion of the
 security.

(g) A principal only security is the principal only portion
 of a fixed income security, which is separated and sold individually from the interest portion of the security.

(h) Reflects the 1-day yield at January 31, 2026.

(i) Represents security purchased with cash collateral received
 for securities on loan.

---

| | |
|:---|:---|
| **Abbreviations** | **Abbreviations** |
| CMT | - Constant Maturity Treasury Index |
| SOFR | - Secured Overnight Financing Rate |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

------

January 31, 2026 (unaudited)

**Open futures contracts outstanding at January 31, 2026:**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Broker** | **Expiration Date** | **Number of<br> Contracts <br> Purchased <br> (Sold)** | **Notional <br> Value at <br> Trade Date** | **Notional Value at<br> January 31, 2026** | **Unrealized <br> Appreciation <br> (Depreciation)** |
| U.S. 10 Year Note (CBT) | Citigroup Global Markets Inc. | March 2026 | 66 | $7451793 | $7380656 | $(71137) |
| U.S. 10 Year Ultra Note (CBT) | Citigroup Global Markets Inc. | March 2026 | (16) | (1836224) | (1826500) | 9724 |
| U.S. 2 Year Note (CBT) | Citigroup Global Markets Inc. | March 2026 | (107) | (22346145) | (22308664) | 37481 |
| U.S. 5 Year Note (CBT) | Citigroup Global Markets Inc. | March 2026 | 10 | 1086975 | 1089297 | 2322 |
| U.S. Long Bond (CBT) | Citigroup Global Markets Inc. | March 2026 | 54 | 6318504 | 6216750 | (101754) |
| U.S. Ultra Bond (CBT) | Citigroup Global Markets Inc. | March 2026 | 67 | 8088713 | 7868313 | (220400) |
|  |  |  |  |  |  | $(343764) |

---

------

CBT — Chicago Board of Trade

Cash posted as collateral to broker for futures contracts was $669,824 at January 31, 2026.

The following is a summary of the inputs used to value the Fund's investments as of January 31, 2026. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to the Fund's most recent semi-annual or annual financial statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities:<sup>(j)</sup> |  |  |  |  |
| &nbsp;&nbsp;Bank Loans | $— | $2732285 | $— | $2732285 |
| &nbsp;&nbsp;Collateralized Loan Obligations |  | 5711732 |  | 5711732 |
| &nbsp;&nbsp;Collateralized Mortgage Obligations |  | 19156488 |  | 19156488 |
| &nbsp;&nbsp;Commercial Asset-Backed Securities |  | 23235801 |  | 23235801 |
| &nbsp;&nbsp;Commercial Mortgage-Backed Securities |  | 25458071 |  | 25458071 |
| &nbsp;&nbsp;Corporate Bonds |  | 134940701 |  | 134940701 |
| &nbsp;&nbsp;U.S. Government & Federal Agencies |  | 82298013 |  | 82298013 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;Money Market Funds | 13835112 |  |  | 13835112 |
| Total Investments in Securities | 13835112 | 293533091 |  | 307368203 |
| Other Financial Instruments:<sup>(k)</sup> |  |  |  |  |
| &nbsp;&nbsp;Futures Contracts | 49527 |  |  | 49527 |
| Total Investments in Securities and Other Financial Instruments | $13884639 | $293533091 | $— | $307417730 |
| **Liability Valuation Inputs** |  |  |  |  |
| Other Financial Instruments:<sup>(k)</sup> |  |  |  |  |
| &nbsp;&nbsp;Futures Contracts | $(393291) | $— | $— | $(393291) |

---

------

(j) For a complete
 listing of investments and their industries, see the Schedule of Investments.

(k) Reflects the unrealized
 appreciation (depreciation) of the instruments.

For the period ended January 31, 2026, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** New York Life Investments Active ETF Trust

- **b. Investment Company Act file number:** 811-22739

- **c. CIK number of Registrant:** 0001426439

- **d. LEI of Registrant:** 549300VWZDQ61K9DOP39

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

  - **Street Address 1:** 51 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 888-474-7725

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

- **a. Name of Series:** NYLI MacKay Core Plus Bond ETF

- **b. EDGAR series identifier (if any):** S000071156

- **c. LEI of Series:** 549300LXJK55YI2K3A41

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $316675638.44

**Total Liabilities:** $17146857.62

**Net Assets:** $299528780.82

**Delayed Delivery Securities:** $580000.00

**Cash Not Reported:** $1793587.51

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 231.30913000 | **1-Year:** 9053.09533000 | **5-Year:** 46922.90886000 | **10-Year:** 30537.58108000 | **30-Year:** 3016.27496000

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

- **3-Month:** 385.16027000 | **1-Year:** 8359.34970000 | **5-Year:** 11304.87745000 | **10-Year:** 886.95494000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000225893 | 0.64%                | -0.15%               | 0.44%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $332455.40               | $276324.26                                 |
| Month 2  | $88520.25                | $-1452524.39                               |
| Month 3  | $75373.73                | $-70015.22                                 |

**Designated Index Information**

- **Index Name:** Bloomberg US Aggregate

- **Index Identifier:** LBUSTRUU

### 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. | US ULTRA BOND CBT                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        67 | NC      | $-220399.86   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                       | Venture Global Plaquemines LNG LLC                                             | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52413.00     | 0.02%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XMHT6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    361859 | PA      | $373671.18    | 0.12%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                               | AEP Texas Inc                                                                  | CUSIP: 00108WAN0<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |    745000 | PA      | $505210.79    | 0.17%             | 2051-05-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC                      | CACI International Inc                                                         | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77815.28     | 0.03%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust                  | GLS Auto Receivables Issuer Trust 2022-3                                       | CUSIP: 38014QAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425000 | PA      | $438051.88    | 0.15%             | 2029-10-15      | Fixed         | 8.35%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                  | Flagship Credit Auto Trust 2021-3                                              | CUSIP: 33846QAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    890000 | PA      | $820070.12    | 0.27%             | 2028-12-15      | Fixed         | 3.32%                 | No            |                  2 | On Loan: No      |
| FIRST HORIZON BANK                          | First Horizon Bank                                                             | CUSIP: 337158AJ8<br>LEI: COOWI3L2W9TPYR3WJX37 | Long             | DBT              | CORP              | US        |    811000 | PA      | $836233.73    | 0.28%             | 2030-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BCC Middle Market CLO                       | BCC Middle Market CLO 2025-1 LLC                                               | CUSIP: 05555YAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    435000 | PA      | $437126.28    | 0.15%             | 2037-07-17      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                      | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC          | CUSIP: 01309QAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $73760.53     | 0.02%             | 2034-03-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GRUPO NUTRESA SA                            | Grupo Nutresa SA                                                               | CUSIP: 40055CAB9<br>LEI: 254900KKAX7B7RJUE255 | Long             | DBT              | CORP              | CO        |    380000 | PA      | $423890.00    | 0.14%             | 2035-05-12      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                    | 1011778 BC ULC / New Red Finance Inc                                           | CUSIP: 68245XAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    100000 | PA      | $98508.15     | 0.03%             | 2028-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BTGK3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1820272 | PA      | $57523.16     | 0.02%             | 2054-11-25      | Floating      | 1.45%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                           | Magnetite 50 Ltd                                                               | CUSIP: 55956MAA7<br>LEI: 529900LA8YF5OY74OD31 | Long             | ABS-CBDO         | CORP              | KY        |    650000 | PA      | $651643.85    | 0.22%             | 2038-07-25      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382NP76<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1966054 | PA      | $7084.28      | 0.00%             | 2051-02-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                         | COMM 2014-CCRE20 Mortgage Trust                                                | CUSIP: 12592LAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    390000 | PA      | $287133.60    | 0.10%             | 2047-11-10      | Fixed         | 3.22%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                     | Asbury Automotive Group Inc                                                    | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97180.15     | 0.03%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                       | Huntington Bancshares Inc/OH                                                   | CUSIP: 446150BF0<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    755000 | PA      | $789407.46    | 0.26%             | 2039-11-18      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                         | Clarivate Science Holdings Corp                                                | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $283134.63    | 0.09%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                                  | Arcosa Inc                                                                     | CUSIP: 039653AA8<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    425000 | PA      | $417785.67    | 0.14%             | 2029-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                        | Westpac Banking Corp                                                           | CUSIP: 961214EX7<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    975000 | PA      | $882977.98    | 0.29%             | 2036-11-18      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2025-1                                  | CUSIP: 80288DAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    430000 | PA      | $438474.44    | 0.15%             | 2031-03-17      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 31427PH72<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    687310 | PA      | $703892.02    | 0.23%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TRANSMONTAIGNE PARTNERS                     | TransMontaigne Partners LLC                                                    | CUSIP: 89377AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103741.84    | 0.03%             | 2030-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Realtruck Group Inc                         | REALTRUCK GROU 01/31/28                                                        | CUSIP: 89778PAH0<br>LEI: 54930007KT5CX7XNSD31 | Long             | LON              | CORP              | US        |    148489 | PA      | $115573.63    | 0.04%             | 2028-01-31      | Floating      | 8.79%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                    | Clear Channel Outdoor Holdings Inc                                             | CUSIP: 18453HAC0<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    105000 | PA      | $105032.87    | 0.04%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418D7E6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    362504 | PA      | $295246.23    | 0.10%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| New Fortress Energy Inc                     | New Fortress Ene 10/30/28                                                      | CUSIP: 64439HAC3<br>LEI: 254900EICTYTCHA5X705 | Long             | LON              | CORP              | US        |    198749 | PA      | $75856.08     | 0.03%             | 2028-10-30      | Floating      | 9.27%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                     | Royal Caribbean Cruises Ltd                                                    | CUSIP: 78017TAB9<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    295000 | PA      | $295616.53    | 0.10%             | 2036-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                             | Zayo Issuer LLC                                                                | CUSIP: 98919WAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    840000 | PA      | $855427.86    | 0.29%             | 2055-03-20      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                       | Williams Scotsman Inc                                                          | CUSIP: 96949VAN3<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51805.55     | 0.02%             | 2030-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                         | Churchill Downs Inc                                                            | CUSIP: 171484AG3<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    375000 | PA      | $374933.81    | 0.13%             | 2027-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                   | Block Inc                                                                      | CUSIP: 852234AU7<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102148.28    | 0.03%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                  | LAD Auto Receivables Trust 2024-3                                              | CUSIP: 505709AG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    885000 | PA      | $893094.65    | 0.30%             | 2032-02-17      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                            | Puget Energy Inc                                                               | CUSIP: 745310AN2<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |    855000 | PA      | $821584.80    | 0.27%             | 2032-03-15      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HAA48<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    410717 | PA      | $339081.55    | 0.11%             | 2055-01-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FUFU3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    665909 | PA      | $85109.09     | 0.03%             | 2050-07-25      | Floating      | 2.29%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                     | Kodiak Gas Services LLC                                                        | CUSIP: 50012LAD6<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |     65000 | PA      | $66578.40     | 0.02%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MCAFEE CORP                                 | McAfee Corp                                                                    | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |     25000 | PA      | $19889.98     | 0.01%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                 | BNP Paribas SA                                                                 | CUSIP: 05565AB28<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    350000 | PA      | $348688.17    | 0.12%             | N/A             | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 912810UP1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5060000 | PA      | $4849693.75   | 1.62%             | 2055-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Multifamily Structured Credit               | Freddie Mac Mscr Trust Mn9                                                     | CUSIP: 355917AB1<br>LEI: 529900KWKEUIIIV9P337 | Long             | ABS-MBS          | USGSE             | US        |    780000 | PA      | $792171.59    | 0.26%             | 2044-10-25      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| FIVE CORNERS FND TR III                     | Five Corners Funding Trust III                                                 | CUSIP: 33830GAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    545000 | PA      | $575119.10    | 0.19%             | 2033-02-15      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382WH26<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    958729 | PA      | $167163.97    | 0.06%             | 2051-08-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BLACKROCK RAINIER CLO LTD                   | Blackrock Rainier CLO VI Ltd                                                   | CUSIP: 09261MAQ9<br>LEI: 549300HF4E86WXQDUX86 | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $401347.60    | 0.13%             | 2037-04-20      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                            | Societe Generale SA                                                            | CUSIP: 83370RAA6<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    675000 | PA      | $656253.63    | 0.22%             | N/A             | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HKCT9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1443856 | PA      | $43514.50     | 0.01%             | 2055-03-25      | Floating      | 1.40%                 | No            |                  2 | On Loan: No      |
| ARETEC GROUP INC                            | Aretec Group Inc                                                               | CUSIP: 040133AA8<br>LEI: 549300NV2T8A33L0PQ58 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124693.78    | 0.04%             | 2029-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                   | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $198898.84    | 0.07%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAMARCO MINERACAO SA                        | Samarco Mineracao SA                                                           | CUSIP: 000000000<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |    292742 | PA      | $293888.96    | 0.10%             | 2031-06-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| BROOKLYN UNION GAS CO                       | Brooklyn Union Gas Co/The                                                      | CUSIP: 114259AX2<br>LEI: 83BQ1DXS6VA5GZFK8S35 | Long             | DBT              | CORP              | US        |    225000 | PA      | $240978.98    | 0.08%             | 2033-09-15      | Fixed         | 6.39%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                   | Block Inc                                                                      | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103895.35    | 0.03%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                    | 1011778 BC ULC / New Red Finance Inc                                           | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    500000 | PA      | $477063.16    | 0.16%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INSTALLED BUILDING PRODU                    | Installed Building Products Inc                                                | CUSIP: 45780RAB7<br>LEI: 549300I95Y9P9YM5FI86 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60344.89     | 0.02%             | 2034-02-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                | GS Mortgage Securities Trust 2015-GC30                                         | CUSIP: 36250GAU9<br>LEI: 549300L45M7638EL0H21 | Long             | ABS-MBS          | CORP              | US        |    229559 | PA      | $222637.98    | 0.07%             | 2050-05-10      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140QNQH8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    352414 | PA      | $286187.35    | 0.10%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                     | BPCE SA                                                                        | CUSIP: 05571AAR6<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $264936.93    | 0.09%             | 2029-10-19      | Fixed         | 6.71%                 | No            |                  2 | On Loan: No      |
| GATES CORPORATION/DE                        | Gates Corp/DE                                                                  | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207906.60    | 0.07%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS PWR & LIGHT                    | Indianapolis Power & Light Co                                                  | CUSIP: 455434BV1<br>LEI: 2T85JNP2R2B2GTSFND21 | Long             | DBT              | CORP              | US        |    370000 | PA      | $388066.94    | 0.13%             | 2032-12-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWKU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    623932 | PA      | $624485.05    | 0.21%             | 2054-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Aretec Group Inc                            | ARETEC GROU 08/09/30                                                           | CUSIP: 04009DAJ3<br>LEI: 549300NV2T8A33L0PQ58 | Long             | LON              | CORP              | US        |     99499 | PA      | $99143.44     | 0.03%             | 2030-08-09      | Floating      | 6.68%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Gold Pool                                                          | CUSIP: 3132FCJ48<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    509535 | PA      | $480155.60    | 0.16%             | 2047-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO XVI, LTD.                  | Sixth Street CLO XIV Ltd                                                       | CUSIP: 83013NAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $700326.20    | 0.23%             | 2038-01-20      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                    | CLOUD SOFTWARE G 08/13/32                                                      | CUSIP: 88632NBL3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |       312 | PA      | $301.56       | 0.00%             | 2032-08-16      | Floating      | 7.10%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                   | Block Inc                                                                      | CUSIP: 852234AT0<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |     85000 | PA      | $86516.66     | 0.03%             | 2030-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                    | CLOUD SOFTWARE G 08/13/32                                                      | CUSIP: 88632NBL3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    124375 | PA      | $120021.88    | 0.04%             | 2032-08-16      | Floating      | 7.10%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                    | RHP Hotel Properties LP / RHP Finance Corp                                     | CUSIP: 749571AJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102958.00    | 0.03%             | 2028-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| WEEKLEY HOMES LLC/ FINAN                    | Weekley Homes LLC / Weekley Finance Corp                                       | CUSIP: 948565AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $147770.45    | 0.05%             | 2028-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust                                            | CUSIP: 30166XAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    225000 | PA      | $229547.43    | 0.08%             | 2031-10-15      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382DM30<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    785162 | PA      | $98465.39     | 0.03%             | 2050-03-20      | Floating      | 2.26%                 | No            |                  2 | On Loan: No      |
| C&S Wholesale Grocers Inc                   | CS WHSL GROCER 08/06/30                                                        | CUSIP: 000000000<br>LEI: 54930093F8X1FEZBGJ91 | Long             | LON              | CORP              | US        |     99750 | PA      | $97256.25     | 0.03%             | 2030-09-23      | Floating      | 8.67%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                    | Permian Resources Operating LLC                                                | CUSIP: 19416MAB5<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    450000 | PA      | $451511.55    | 0.15%             | 2029-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| KNIFE RIVER CORP                            | Knife River Corp                                                               | CUSIP: 498894AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $416500.00    | 0.14%             | 2031-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BHWC9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1185640 | PA      | $156809.06    | 0.05%             | 2051-03-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                    | LCM Investments Holdings II LLC                                                | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    290000 | PA      | $285761.53    | 0.10%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                    | Ford Motor Credit Co LLC                                                       | CUSIP: 345397D42<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    390000 | PA      | $419545.05    | 0.14%             | 2030-06-10      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| MATTAMY GROUP CORP                          | Mattamy Group Corp                                                             | CUSIP: 57701RAQ5<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |    120000 | PA      | $117908.24    | 0.04%             | 2033-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2019-INV2 Trust                                                            | CUSIP: 67112VAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    237902 | PA      | $224258.73    | 0.07%             | 2049-05-27      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                    | Lloyds Banking Group PLC                                                       | CUSIP: 53944YAU7<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    355000 | PA      | $361203.14    | 0.12%             | 2033-08-11      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                              | NRG Energy Inc                                                                 | CUSIP: 629377CE0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100057.00    | 0.03%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                               | Carnival Corp                                                                  | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    150000 | PA      | $154053.60    | 0.05%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                      | Venture Global LNG Inc                                                         | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    250000 | PA      | $255703.75    | 0.09%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                     | United Rentals North America Inc                                               | CUSIP: 911363AM1<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95329.35     | 0.03%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                    | RHP Hotel Properties LP / RHP Finance Corp                                     | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $246380.83    | 0.08%             | 2029-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur              | Bridgecrest Lending Auto Securitization Trust 2025-3                           | CUSIP: 107920AG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    775000 | PA      | $781195.35    | 0.26%             | 2032-05-17      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381HVY4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1281179 | PA      | $87515.91     | 0.03%             | 2065-10-16      | Variable      | 1.02%                 | No            |                  2 | On Loan: No      |
| TGNR INTERMEDIATE HOLDIN                    | TGNR Intermediate Holdings LLC                                                 | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247388.95    | 0.08%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                    | AT&T Inc                                                                       | CUSIP: 00206RKJ0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    585000 | PA      | $390749.98    | 0.13%             | 2053-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                            | Deutsche Bank AG/New York NY                                                   | CUSIP: 25160PAH0<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    910000 | PA      | $897195.06    | 0.30%             | 2028-01-07      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                      | Venture Global LNG Inc                                                         | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50309.80     | 0.02%             | 2030-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381MUH1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3436663 | PA      | $176335.86    | 0.06%             | 2066-03-16      | Variable      | 0.57%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382UF55<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    506434 | PA      | $393153.97    | 0.13%             | 2051-06-20      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY                              | Ryan Specialty LLC                                                             | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203322.76    | 0.07%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                         | COMM 2016-DC2 Mortgage Trust                                                   | CUSIP: 12594CAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1260000 | PA      | $1147559.36   | 0.38%             | 2049-02-10      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HADW3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    674927 | PA      | $474886.45    | 0.16%             | 2050-09-25      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                           | Rivers Enterprise Borrower LLC / Rivers Enterprise Finance Corp                | CUSIP: 76883NAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $117051.83    | 0.04%             | 2033-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| WEEKLEY HOMES LLC/ FINAN                    | Weekley Homes LLC / Weekley Finance Corp                                       | CUSIP: 948565AF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $115590.99    | 0.04%             | 2034-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MGIC INVESTMENT CORP                        | MGIC Investment Corp                                                           | CUSIP: 552848AG8<br>LEI: 254900S8483WM4M98R28 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199884.59    | 0.07%             | 2028-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALDERYS FINANCING II                       | Calderys Financing II LLC                                                      | CUSIP: 12878AAA9<br>LEI: 254900CB1N9CREDQAK86 | Long             | DBT              | CORP              | US        |    212500 | PA      | $220548.23    | 0.07%             | 2028-06-01      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| BROOKLYN UNION GAS CO                       | Brooklyn Union Gas Co/The                                                      | CUSIP: 114259AW4<br>LEI: 83BQ1DXS6VA5GZFK8S35 | Long             | DBT              | CORP              | US        |    910000 | PA      | $902357.99    | 0.30%             | 2032-08-05      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| WILLIAM CARTER                              | William Carter Co/The                                                          | CUSIP: 96926JAG2<br>LEI: TGI2A0HXEYNQPU7TYV27 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41352.42     | 0.01%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                    | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                      | CUSIP: 00774MAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    200000 | PA      | $194018.11    | 0.06%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                  | Flagship Credit Auto Trust 2022-2                                              | CUSIP: 33844XAL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    784000 | PA      | $704556.18    | 0.24%             | 2028-04-17      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| ITT HOLDINGS LLC                            | ITT Holdings LLC                                                               | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    165000 | PA      | $159075.05    | 0.05%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ARCOS DORADOS BV                            | Arcos Dorados BV                                                               | CUSIP: 03965TAC7<br>LEI: 549300T91OYP6I7P8G39 | Long             | DBT              | CORP              | NL        |    820000 | PA      | $859770.00    | 0.29%             | 2032-01-29      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                    | Eagle Funding Luxco Sarl                                                       | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    885000 | PA      | $899000.70    | 0.30%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                    | 1011778 BC ULC / New Red Finance Inc                                           | CUSIP: 68245XAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    100000 | PA      | $102516.73    | 0.03%             | 2029-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                          | Osaic Holdings Inc                                                             | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155454.93    | 0.05%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                     | Millrose Properties Inc                                                        | CUSIP: 601137AB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $40451.16     | 0.01%             | 2032-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                               | AEP Texas Inc                                                                  | CUSIP: 00108WAU4<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |    255000 | PA      | $250711.38    | 0.08%             | 2055-10-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                     | MPT Operating Partnership LP / MPT Finance Corp                                | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $97774.99     | 0.03%             | 2027-10-15      | Fixed         | 5.00%                 | 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        |       -20 | NC      | $13643.33     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NES FIRCROFT BONDCO AS                      | NES Fircroft Bondco AS                                                         | CUSIP: 000000000<br>LEI: 636700CUSS22I12S3R10 | Long             | DBT              | CORP              | NO        |    125000 | PA      | $126613.23    | 0.04%             | 2029-09-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                   | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    585000 | PA      | $524971.61    | 0.18%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GRUPO NUTRESA SA                            | Grupo Nutresa SA                                                               | CUSIP: 000000000<br>LEI: 254900KKAX7B7RJUE255 | Long             | DBT              | CORP              | CO        |    200000 | PA      | $212995.11    | 0.07%             | 2030-05-12      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                         | COMM 2018-HCLV Mortgage Trust                                                  | CUSIP: 20048KAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $461488.95    | 0.15%             | 2033-09-15      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| RIN Ltd                                     | RIN V LLC                                                                      | CUSIP: 74970TAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    650000 | PA      | $649985.05    | 0.22%             | 2036-10-14      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Tricon American Homes                       | Tricon American Homes 2020-SFR1                                                | CUSIP: 89613GAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    267363 | PA      | $263841.80    | 0.09%             | 2038-07-17      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                    | Performance Food Group Inc                                                     | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200108.40    | 0.07%             | 2027-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                     | Darling Ingredients Inc                                                        | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |    175000 | PA      | $177330.30    | 0.06%             | 2030-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PLANET FINANCIAL GROUP                      | Planet Financial Group LLC                                                     | CUSIP: 72702AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103898.60    | 0.03%             | 2029-12-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                       | Encompass Health Corp                                                          | CUSIP: 29261AAE0<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97883.16     | 0.03%             | 2031-04-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| C&S GROUP ENTERPRISES LL                    | C&S Group Enterprises LLC                                                      | CUSIP: 12467AAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $79783.73     | 0.03%             | 2028-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                | GS Mortgage Securities Corp Trust 2017-GPTX                                    | CUSIP: 36257CAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    513367 | PA      | $454322.30    | 0.15%             | 2034-05-10      | Fixed         | 2.86%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                    | Warnermedia Holdings Inc                                                       | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     80000 | PA      | $56200.00     | 0.02%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT INC                               | Open Text Holdings Inc                                                         | CUSIP: 683720AC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $62885.87     | 0.02%             | 2031-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                          | Osaic Holdings Inc                                                             | CUSIP: 00791GAC1<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41461.20     | 0.01%             | 2033-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                     | Millrose Properties Inc                                                        | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102068.50    | 0.03%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BFKM4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    558049 | PA      | $87616.68     | 0.03%             | 2051-03-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CarMax Select Receivables Trus              | Carmax Select Receivables Trust 2025-B                                         | CUSIP: 14320BAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    605000 | PA      | $613990.54    | 0.20%             | 2032-09-15      | Fixed         | 6.89%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                       | Caesars Entertainment Inc                                                      | CUSIP: 12769GAD2<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145928.85    | 0.05%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| GENERAL MOTORS FINL CO                      | General Motors Financial Co Inc                                                | CUSIP: 37045XDE3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    640000 | PA      | $576969.20    | 0.19%             | 2031-01-08      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2023-4                                     | CUSIP: 30166TAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    260000 | PA      | $265426.82    | 0.09%             | 2029-12-17      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                 | BNP Paribas SA                                                                 | CUSIP: 05602XQR2<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |     70000 | PA      | $70633.62     | 0.02%             | N/A             | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC                          | Voyager Parent LLC                                                             | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |    145000 | PA      | $154036.40    | 0.05%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| TRANSALTA CORP                              | TransAlta Corp                                                                 | CUSIP: 89346DAL1<br>LEI: 984500EE2ADD850F1C96 | Long             | DBT              | CORP              | CA        |     90000 | PA      | $90072.00     | 0.03%             | 2034-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                    | Avolon Holdings Funding Ltd                                                    | CUSIP: 05401AAV3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    890000 | PA      | $924772.36    | 0.31%             | 2029-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COGENT COMMS GRP / FIN                      | Cogent Communications Group LLC / Cogent Finance Inc                           | CUSIP: 19240WAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $169878.75    | 0.06%             | 2032-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| SOUTH BOW CAN INFRA HOLD                    | South Bow Canadian Infrastructure Holdings Ltd                                 | CUSIP: 836720AG7<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $104247.80    | 0.03%             | 2055-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                          | Osaic Holdings Inc                                                             | CUSIP: 00791GAD9<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62173.20     | 0.02%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WENDYS FUNDING LLC                          | Wendy's Funding LLC                                                            | CUSIP: 95058XAE8<br>LEI: 5493009DRVSTWJOXUL48 | Long             | ABS-O            | CORP              | US        |    404679 | PA      | $399327.40    | 0.13%             | 2048-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                         | Southern California Edison Co                                                  | CUSIP: 842400HV8<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    270000 | PA      | $253985.07    | 0.08%             | 2053-03-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| ALTAGAS LTD                                 | AltaGas Ltd                                                                    | CUSIP: 021361AD2<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $104004.10    | 0.03%             | 2054-10-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382QAM2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1901086 | PA      | $253664.81    | 0.08%             | 2051-03-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                              | NRG Energy Inc                                                                 | CUSIP: 629377DC3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135895.32    | 0.05%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                       | Venture Global Plaquemines LNG LLC                                             | CUSIP: 922966AE6<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61758.12     | 0.02%             | 2030-12-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                              | NRG Energy Inc                                                                 | CUSIP: 629377DB5<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    340000 | PA      | $338427.13    | 0.11%             | 2035-10-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Shentel Issuer LLC                          | Shentel Issuer LLC                                                             | CUSIP: 82321AAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    565000 | PA      | $574004.63    | 0.19%             | 2055-12-20      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| TRUST 2401                                  | Trust 2401                                                                     | CUSIP: 89834MAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    685000 | PA      | $748807.75    | 0.25%             | 2034-02-13      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                    | Performance Food Group Inc                                                     | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244788.05    | 0.08%             | 2029-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2025-ARIA                                                             | CUSIP: 05619TAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    790000 | PA      | $799644.16    | 0.27%             | 2042-12-13      | Variable      | 5.18%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                          | Osaic Holdings Inc                                                             | CUSIP: 00791GAE7<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     35000 | PA      | $36269.10     | 0.01%             | 2033-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2025-4                                     | CUSIP: 30167KAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    440000 | PA      | $445006.50    | 0.15%             | 2033-04-15      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR Trust 2019-HQA2                                              | CUSIP: 35564MBE4<br>LEI: 549300NKHCH87PYOHD44 | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $719815.38    | 0.24%             | 2049-04-25      | Floating      | 15.06%                | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382AGG4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    230322 | PA      | $209243.53    | 0.07%             | 2049-10-20      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| SMITHFIELD FOODS INC                        | Smithfield Foods Inc                                                           | CUSIP: 832248AZ1<br>LEI: CVTIPZRZJC0JQEZLL598 | Long             | DBT              | CORP              | US        |    715000 | PA      | $714689.68    | 0.24%             | 2027-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Amentum Holdings Inc                        | AMENTUM HLDG 09/29/31                                                          | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |    199375 | PA      | $199424.78    | 0.07%             | 2031-09-29      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| CENTURY ALUMINUM COMPANY                    | Century Aluminum Co                                                            | CUSIP: 156431AS7<br>LEI: 549300U5ODNGEYWKSW73 | Long             | DBT              | CORP              | US        |    140000 | PA      | $144979.32    | 0.05%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                              | NRG Energy Inc                                                                 | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    220000 | PA      | $222296.14    | 0.07%             | 2036-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                    | Hilton Domestic Operating Co Inc                                               | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92574.71     | 0.03%             | 2032-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT INC                               | Open Text Holdings Inc                                                         | CUSIP: 683720AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    475000 | PA      | $441232.30    | 0.15%             | 2030-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd              | Golub Capital Partners Clo 49M Ltd                                             | CUSIP: 38181HAE3<br>LEI: 254900NUVOJAHAT10W61 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $750990.75    | 0.25%             | 2038-07-20      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                      | General Motors Financial Co Inc                                                | CUSIP: 37045XFG6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    715000 | PA      | $744850.00    | 0.25%             | 2032-04-04      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust              | Morgan Stanley Capital I Trust 2015-420                                        | CUSIP: 61765BAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    397765 | PA      | $402773.65    | 0.13%             | 2050-10-12      | Variable      | 7.98%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FXMY1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    434292 | PA      | $67370.32     | 0.02%             | 2050-10-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                               | EchoStar Corp                                                                  | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    157599 | PA      | $160394.24    | 0.05%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ASP UNIFRAX HOLDINGS INC                    | ASP Unifrax Holdings Inc                                                       | CUSIP: 00218LAG6<br>LEI: 549300RRU6BWJLD0YT71 | Long             | DBT              | CORP              | US        |    106079 | PA      | $80619.93     | 0.03%             | 2029-09-30      | Fixed         | 11.18%                | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382NAB3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2063827 | PA      | $6509.72      | 0.00%             | 2051-01-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| BOYD GAMING CORP                            | Boyd Gaming Corp                                                               | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    125000 | PA      | $121765.42    | 0.04%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                       | Williams Scotsman Inc                                                          | CUSIP: 96950GAE2<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149440.10    | 0.05%             | 2028-08-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| COOPERATIEVE RABOBANK UA                    | Cooperatieve Rabobank UA                                                       | CUSIP: 74977RDN1<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   1045000 | PA      | $1040671.29   | 0.35%             | 2028-04-06      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                           | CUSIP: 06051GKD0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    815000 | PA      | $735317.35    | 0.25%             | 2032-10-20      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                             | Gen Digital Inc                                                                | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55459.57     | 0.02%             | 2027-09-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383XYN8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    194539 | PA      | $159670.63    | 0.05%             | 2053-04-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                       | Caesars Entertainment Inc                                                      | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72027.17     | 0.02%             | 2029-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 91282CPT2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    725000 | PA      | $722904.30    | 0.24%             | 2029-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CIPHER COMPUTE LLC                          | Cipher Compute LLC                                                             | CUSIP: 17253NAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $175169.87    | 0.06%             | 2030-11-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 912810UQ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8780000 | PA      | $8539921.88   | 2.85%             | 2045-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: —       |
| MORGAN STANLEY                              | Morgan Stanley                                                                 | CUSIP: 61747YEH4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    595000 | PA      | $534081.32    | 0.18%             | 2032-10-20      | Fixed         | 2.51%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                         | Clarivate Science Holdings Corp                                                | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    340000 | PA      | $292252.03    | 0.10%             | 2029-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382JXP6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1513368 | PA      | $11330.44     | 0.00%             | 2050-09-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382BJL8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    515076 | PA      | $452203.94    | 0.15%             | 2049-09-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                       | SS&C Technologies Inc                                                          | CUSIP: 78466CAD8<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    300000 | PA      | $309727.20    | 0.10%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor              | JP Morgan Chase Commercial Mortgage Securities Trust 2021-1440                 | CUSIP: 46653DAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    525000 | PA      | $493797.05    | 0.16%             | 2036-03-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BL3H1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    722938 | PA      | $82357.38     | 0.03%             | 2052-02-25      | Floating      | 2.05%                 | No            |                  2 | On Loan: No      |
| SK INVICTUS INTERMEDIATE                    | SK Invictus Intermediate II Sarl                                               | CUSIP: 29977LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    255000 | PA      | $250919.92    | 0.08%             | 2029-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382KWJ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    752784 | PA      | $101697.09    | 0.03%             | 2050-10-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                       | Bausch Health Cos Inc                                                          | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     70000 | PA      | $72770.60     | 0.02%             | 2028-09-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                             | CUSIP: 31325URK4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    685382 | PA      | $70821.23     | 0.02%             | 2043-08-15      | Floating      | 2.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383CTL4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3215829 | PA      | $529083.35    | 0.18%             | 2051-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                               | EchoStar Corp                                                                  | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    100000 | PA      | $109622.00    | 0.04%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 91282CPW5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4370000 | PA      | $4359075.00   | 1.46%             | 2031-01-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2020-1 A PTT                     | United Airlines 2020-1 Class A Pass Through Trust                              | CUSIP: 90931GAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    174199 | PA      | $178523.08    | 0.06%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                     | Crescent Energy Finance LLC                                                    | CUSIP: 516806AK2<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     90000 | PA      | $89544.02     | 0.03%             | 2032-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                    | Hilton Domestic Operating Co Inc                                               | CUSIP: 432833AS0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101875.00    | 0.03%             | 2033-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381HH46<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    395000 | PA      | $264567.52    | 0.09%             | 2064-06-16      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Bayview Opportunity Master Fun              | Bayview Opportunity Master Fund VII 2024-EDU1 LLC                              | CUSIP: 07336PAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    299481 | PA      | $298983.34    | 0.10%             | 2047-06-25      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BP5A5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    466702 | PA      | $394506.65    | 0.13%             | 2054-07-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                  | Viasat Inc                                                                     | CUSIP: 92552VAN0<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64160.98     | 0.02%             | 2028-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP                     | Gulfport Energy Operating Corp                                                 | CUSIP: 402635AT3<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206257.40    | 0.07%             | 2029-09-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382RR75<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    653591 | PA      | $111082.14    | 0.04%             | 2051-04-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                         | Go Daddy Operating Co LLC / GD Finance Co Inc                                  | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $449432.28    | 0.15%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381JN94<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2178378 | PA      | $134006.41    | 0.04%             | 2065-10-16      | Variable      | 0.82%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XKAD2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    579218 | PA      | $594375.57    | 0.20%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                    | Ford Motor Credit Co LLC                                                       | CUSIP: 345397G31<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    345000 | PA      | $356324.16    | 0.12%             | 2031-11-05      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                    | Warnermedia Holdings Inc                                                       | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    155000 | PA      | $136400.00    | 0.05%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                             | Fannie Mae Interest Strip                                                      | CUSIP: 31424U8A7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2018811 | PA      | $427386.64    | 0.14%             | 2053-10-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | STACR Trust 2018-HRP1                                                          | CUSIP: 3137G0VB2<br>LEI: 549300D2VO9JVX6KU482 | Long             | ABS-MBS          | CORP              | US        |    397397 | PA      | $468304.46    | 0.16%             | 2043-05-25      | Floating      | 15.56%                | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                       | SS&C Technologies Inc                                                          | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499567.40    | 0.17%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SHEA HOMES LP/FNDG CP                       | Shea Homes LP / Shea Homes Funding Corp                                        | CUSIP: 82088KAK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $74858.21     | 0.02%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SEASPAN CORP                                | Seaspan Corp                                                                   | CUSIP: 81254UAK2<br>LEI: 5493007Z8Q1H45KT7W98 | Long             | DBT              | CORP              | MH        |    125000 | PA      | $118883.37    | 0.04%             | 2029-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VELOCITY VEHICLE GROUP                      | Velocity Vehicle Group LLC                                                     | CUSIP: 92262TAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $92982.44     | 0.03%             | 2029-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2024-VLT5                                         | CUSIP: 05614JAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    555000 | PA      | $596184.16    | 0.20%             | 2046-11-13      | Variable      | 8.13%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                             | Fannie Mae Interest Strip                                                      | CUSIP: 31422MZU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2524043 | PA      | $239781.87    | 0.08%             | 2052-02-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136ARD62<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1076556 | PA      | $100455.56    | 0.03%             | 2046-04-25      | Floating      | 2.29%                 | No            |                  2 | On Loan: No      |
| GENMAB A/S/GENMAB FIN                       | GENMAB A/S/GENMAB FINANCE LLC                                                  | CUSIP: 37230JAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | DK        |     80000 | PA      | $82003.03     | 0.03%             | 2032-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NCMF Trust                                  | NCMF Trust 2025-MFS                                                            | CUSIP: 62887TAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    925000 | PA      | $939392.08    | 0.31%             | 2033-06-10      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                    | Capital One Financial Corp                                                     | CUSIP: 14040HCZ6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    775000 | PA      | $811232.46    | 0.27%             | 2029-06-08      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                        | Colombia Government International Bond                                         | CUSIP: 195325EP6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    675000 | PA      | $705172.50    | 0.24%             | 2036-11-07      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DSXM9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    978718 | PA      | $940375.56    | 0.31%             | 2053-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                   | IQVIA Inc                                                                      | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    240000 | PA      | $249348.00    | 0.08%             | 2032-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT                       | American Homes 4 Rent LP                                                       | CUSIP: 02666TAC1<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |    905000 | PA      | $807764.63    | 0.27%             | 2031-07-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US LONG BOND(CBT)                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        54 | NC      | $-101754.06   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust 2021-4                                                | CUSIP: 46652VBT1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1415643 | PA      | $1197554.84   | 0.40%             | 2051-08-25      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BWDC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2417238 | PA      | $91740.22     | 0.03%             | 2055-06-25      | Floating      | 1.40%                 | No            |                  2 | On Loan: No      |
| MERCER INTL INC                             | Mercer International Inc                                                       | CUSIP: 588056BB6<br>LEI: 549300Z5IAG39VRTY874 | Long             | DBT              | CORP              | US        |    405000 | PA      | $250254.89    | 0.08%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                             | CUSIP: 3133Q3C33<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    385043 | PA      | $326963.55    | 0.11%             | 2053-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                             | CUSIP: 3142G4PC9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    835652 | PA      | $144083.25    | 0.05%             | 2053-01-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383RYT8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2078040 | PA      | $19956.25     | 0.01%             | 2052-05-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| MSWF Commercial Mortgage Trust              | MSWF Commercial Mortgage Trust 2023-2                                          | CUSIP: 55361AAX2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    395000 | PA      | $429416.67    | 0.14%             | 2056-12-15      | Variable      | 6.49%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382PYU0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    521124 | PA      | $76197.16     | 0.03%             | 2051-03-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWDZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1127439 | PA      | $1001306.64   | 0.33%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WINNEBAGO INDUSTRIES                        | Winnebago Industries Inc                                                       | CUSIP: 974637AC4<br>LEI: 549300B7OYKYJLTE3G11 | Long             | DBT              | CORP              | US        |    118000 | PA      | $117902.59    | 0.04%             | 2028-07-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2020-BNK25                                                                | CUSIP: 06539WAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1390000 | PA      | $1094585.11   | 0.37%             | 2063-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137F9Y54<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    757344 | PA      | $134685.61    | 0.04%             | 2050-08-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384EBR5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    180969 | PA      | $152532.80    | 0.05%             | 2053-08-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38379XY20<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    904388 | PA      | $210650.63    | 0.07%             | 2044-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JB POINDEXTER & CO INC                      | JB Poindexter & Co Inc                                                         | CUSIP: 465965AC5<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |    280000 | PA      | $290866.80    | 0.10%             | 2031-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381JZC4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2837091 | PA      | $198406.01    | 0.07%             | 2065-07-16      | Variable      | 0.95%                 | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP                           | Hyatt Hotels Corp                                                              | CUSIP: 448579AR3<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    885000 | PA      | $912457.43    | 0.30%             | 2029-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                    | Hess Midstream Operations LP                                                   | CUSIP: 428102AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $303164.10    | 0.10%             | 2030-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BX6G4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1268093 | PA      | $79014.37     | 0.03%             | 2055-06-25      | Floating      | 2.13%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                    | Avolon Holdings Funding Ltd                                                    | CUSIP: 05401AAM3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    615000 | PA      | $614149.91    | 0.21%             | 2026-02-21      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EPD6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    406490 | PA      | $413667.86    | 0.14%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OT MIDCO INC                                | OT Midco Inc                                                                   | CUSIP: 68877AAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $58288.36     | 0.02%             | 2030-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | Barclays PLC                                                                   | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    195000 | PA      | $208463.58    | 0.07%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XPND7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    549410 | PA      | $562035.72    | 0.19%             | 2054-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                    | Virginia Electric and Power Co                                                 | CUSIP: 927804GJ7<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |    500000 | PA      | $420211.97    | 0.14%             | 2052-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TIME WARNER CABLE LLC                       | Time Warner Cable LLC                                                          | CUSIP: 88732JAU2<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |    635000 | PA      | $638019.39    | 0.21%             | 2039-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382QAD2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1814758 | PA      | $238998.34    | 0.08%             | 2051-03-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XQFR3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1810491 | PA      | $1838184.79   | 0.61%             | 2054-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2022-HQA3                                        | CUSIP: 35564KE70<br>LEI: 5493000IRJ8RDHSNEL96 | Long             | ABS-MBS          | CORP              | US        |    285000 | PA      | $303308.40    | 0.10%             | 2042-08-25      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| PTC INC                                     | PTC Inc                                                                        | CUSIP: 69370CAC4<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98542.84     | 0.03%             | 2028-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust              | Morgan Stanley Capital I Trust 2021-230P                                       | CUSIP: 61772WAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    325000 | PA      | $315656.25    | 0.11%             | 2038-12-15      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 31427M5K3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    449705 | PA      | $460464.00    | 0.15%             | 2055-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                     | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    535058 | PA      | $449353.73    | 0.15%             | 2060-07-15      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                       | Venture Global Plaquemines LNG LLC                                             | CUSIP: 922966AF3<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41425.20     | 0.01%             | 2034-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                    | Sinclair Television Group Inc                                                  | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    125000 | PA      | $129302.50    | 0.04%             | 2033-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                    | Hilton Domestic Operating Co Inc                                               | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500977.00    | 0.17%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382TM27<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    529503 | PA      | $96159.36     | 0.03%             | 2051-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                         | Prestige Brands Inc                                                            | CUSIP: 74112BAM7<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |    200000 | PA      | $186945.08    | 0.06%             | 2031-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MOSS CREEK RESOURCES HLD                    | Moss Creek Resources Holdings Inc                                              | CUSIP: 61965RAC9<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |     95000 | PA      | $92389.19     | 0.03%             | 2031-09-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIF GAS CO                       | Southern California Gas Co                                                     | CUSIP: 842434DD1<br>LEI: XY0N0J73VHV5F4CUJV89 | Long             | DBT              | CORP              | US        |    605000 | PA      | $619836.57    | 0.21%             | 2055-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SIMMONS FOOD INC/SIMMONS                    | Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $289134.39    | 0.10%             | 2029-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                           | Lithia Motors Inc                                                              | CUSIP: 536797AJ2<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60266.57     | 0.02%             | 2030-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SMITHFIELD FOODS INC                        | Smithfield Foods Inc                                                           | CUSIP: 832248BC1<br>LEI: CVTIPZRZJC0JQEZLL598 | Long             | DBT              | CORP              | US        |    170000 | PA      | $156279.94    | 0.05%             | 2030-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Gold Pool                                                          | CUSIP: 3132FCKH7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    815000 | PA      | $755383.51    | 0.25%             | 2043-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                | UBS Group AG                                                                   | CUSIP: 902613AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    150000 | PA      | $149452.97    | 0.05%             | N/A             | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES/ESCR                    | Windstream Services LLC / Windstream Escrow Finance Corp                       | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $157128.75    | 0.05%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus              | BRAVO Residential Funding Trust 2024-NQM8                                      | CUSIP: 10571DAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    286428 | PA      | $284007.58    | 0.09%             | 2053-08-01      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| AEGEA FINANCE SARL                          | Aegea Finance Sarl                                                             | CUSIP: 00775CAC0<br>LEI: 213800V6WTKUT1XWIZ47 | Long             | DBT              | CORP              | LU        |    829000 | PA      | $881032.19    | 0.29%             | 2031-01-20      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Series 2025-R01                                  | CUSIP: 20755JAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    770000 | PA      | $767600.22    | 0.26%             | 2045-01-25      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                      | XPLR Infrastructure Operating Partners LP                                      | CUSIP: 98379YAA0<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50967.30     | 0.02%             | 2034-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                     | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    845485 | PA      | $532736.32    | 0.18%             | 2060-07-15      | Fixed         | 2.28%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMERICAN PIPE                    | Plains All American Pipeline LP                                                | CUSIP: 726503AE5<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |    550000 | PA      | $548975.30    | 0.18%             | N/A             | Floating      | 8.22%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                    | Celanese US Holdings LLC                                                       | CUSIP: 15089QAN4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52574.00     | 0.02%             | 2029-07-15      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| BRITISH AIR 21-1 A PPT                      | British Airways 2021-1 Class A Pass Through Trust                              | CUSIP: 11042CAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    774698 | PA      | $708311.59    | 0.24%             | 2035-03-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| PARK-OHIO INDUSTRIES INC                    | Park-Ohio Industries Inc                                                       | CUSIP: 700677AS6<br>LEI: 5493006LQUO5SLMNYM18 | Long             | DBT              | CORP              | US        |     55000 | PA      | $56481.70     | 0.02%             | 2030-08-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                    | Citizens Financial Group Inc                                                   | CUSIP: 174610BK0<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    695000 | PA      | $698304.57    | 0.23%             | 2036-01-29      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                   | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $95530.10     | 0.03%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383MCW6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2068028 | PA      | $92875.76     | 0.03%             | 2052-02-20      | Floating      | 0.40%                 | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                         | Prestige Brands Inc                                                            | CUSIP: 74112BAL9<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100037.90    | 0.03%             | 2028-01-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                       | Scotts Miracle-Gro Co/The                                                      | CUSIP: 810186AW6<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    250000 | PA      | $235680.15    | 0.08%             | 2032-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                       | HUB International Ltd                                                          | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    150000 | PA      | $156503.10    | 0.05%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ASURION LLC/ASURION CO                      | Asurion LLC and Asurion Co-Issuer Inc                                          | CUSIP: 045941AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $60657.60     | 0.02%             | 2034-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Gold Pool                                                          | CUSIP: 3132FCKG9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    940000 | PA      | $885421.96    | 0.30%             | 2047-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| COLUMBUS MCKINNON CORP                      | Columbus McKinnon Corp/NY                                                      | CUSIP: 199333AK1<br>LEI: 549300W3HQB0HO1F3G69 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90468.00     | 0.03%             | 2033-02-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                           | Newell Brands Inc                                                              | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     85000 | PA      | $89117.83     | 0.03%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MAXIM CRANE WORKS LLC                       | Maxim Crane Works Holdings Capital LLC                                         | CUSIP: 57779EAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $143826.57    | 0.05%             | 2028-09-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2017-C40                                 | CUSIP: 95000YAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    635000 | PA      | $544090.92    | 0.18%             | 2050-10-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136ATEN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    505366 | PA      | $54781.82     | 0.02%             | 2046-06-25      | Floating      | 2.24%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                              | 1261229 BC Ltd                                                                 | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     70000 | PA      | $71837.99     | 0.02%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor              | JPMCC Commercial Mortgage Securities Trust 2019-COR5                           | CUSIP: 46591EAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    155000 | PA      | $121054.80    | 0.04%             | 2052-06-13      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NESCO HOLDINGS II INC                       | NESCO Holdings II Inc                                                          | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147810.02    | 0.05%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                              | NRG Energy Inc                                                                 | CUSIP: 629377CW0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    250000 | PA      | $254797.00    | 0.09%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                            | DT Midstream Inc                                                               | CUSIP: 23345MAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    605000 | PA      | $585139.28    | 0.20%             | 2032-04-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                     | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $87532.70     | 0.03%             | 2029-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ELDORADO GOLD CORP                          | Eldorado Gold Corp                                                             | CUSIP: 284902AF0<br>LEI: 5493004PWQ01YDD1IH62 | Long             | DBT              | CORP              | CA        |    130000 | PA      | $130650.39    | 0.04%             | 2029-09-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381JA72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1940464 | PA      | $176596.58    | 0.06%             | 2066-02-16      | Variable      | 1.33%                 | No            |                  2 | On Loan: No      |
| ASURION LLC/ASURION CO                      | Asurion LLC and Asurion Co-Issuer Inc                                          | CUSIP: 045941AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $130600.56    | 0.04%             | 2032-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Gray Television Inc                         | GRAY TELEVISIO 12/01/28                                                        | CUSIP: 389376AZ7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |     53391 | PA      | $53043.65     | 0.02%             | 2028-12-01      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| AMENTUM HOLDINGS INC                        | Amentum Holdings Inc                                                           | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |     75000 | PA      | $79036.73     | 0.03%             | 2032-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                           | Post Holdings Inc                                                              | CUSIP: 737446AY0<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50045.19     | 0.02%             | 2036-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                    | EMRLD Borrower LP / Emerald Co-Issuer Inc                                      | CUSIP: 29103CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375000 | PA      | $388153.88    | 0.13%             | 2030-12-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383C3X6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2813191 | PA      | $28446.99     | 0.01%             | 2051-11-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                          | Energy Transfer LP                                                             | CUSIP: 29273VBG4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75003.60     | 0.03%             | 2056-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                    | Virgin Media Secured Finance PLC                                               | CUSIP: 92769XAP0<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $197262.34    | 0.07%             | 2029-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                       | Scotts Miracle-Gro Co/The                                                      | CUSIP: 810186AX4<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    150000 | PA      | $141199.14    | 0.05%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BDR42<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    638367 | PA      | $108659.87    | 0.04%             | 2051-02-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382VAW9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1090326 | PA      | $146898.15    | 0.05%             | 2051-06-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| ARCHROCK SERVICES/PARTNE                    | Archrock Services LP / Archrock Partners Finance Corp                          | CUSIP: 03958CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $39969.82     | 0.01%             | 2034-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 91282CPJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5020000 | PA      | $4917246.88   | 1.64%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| ADVANCED DRAINAGE SYSTEM                    | Advanced Drainage Systems Inc                                                  | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    300000 | PA      | $306729.90    | 0.10%             | 2030-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                   | Sunoco LP                                                                      | CUSIP: 86765KAK5<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    500000 | PA      | $487538.85    | 0.16%             | 2030-05-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| COGENT COMMS GRP / FIN                      | Cogent Communications Group LLC / Cogent Finance Inc                           | CUSIP: 19240CAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $74677.51     | 0.02%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GPD COS INC                                 | GPD Cos Inc                                                                    | CUSIP: 36260VAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    127473 | PA      | $66579.22     | 0.02%             | 2029-12-31      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                           | Newell Brands Inc                                                              | CUSIP: 651229BE5<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    115000 | PA      | $112623.41    | 0.04%             | 2032-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: —       |
| QTS ISSUER ABS II LLC                       | QTS Issuer ABS II LLC                                                          | CUSIP: 74690FAY2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    545000 | PA      | $545010.90    | 0.18%             | 2056-01-05      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                        | Alpha Generation LLC                                                           | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |    225000 | PA      | $233280.45    | 0.08%             | 2032-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                    | Lloyds Banking Group PLC                                                       | CUSIP: 53944YAB9<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    590000 | PA      | $590690.30    | 0.20%             | 2026-03-24      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | Barclays PLC                                                                   | CUSIP: 06738EBT1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    810000 | PA      | $787975.18    | 0.26%             | N/A             | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Agate Bay Mortgage Loan Trust               | Agate Bay Mortgage Trust 2015-5                                                | CUSIP: 00842BAV9<br>LEI: 549300RM62GNIVQ1WJ04 | Long             | ABS-MBS          | CORP              | US        |    132536 | PA      | $107863.22    | 0.04%             | 2045-07-25      | Variable      | 3.57%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                    | RHP Hotel Properties LP / RHP Finance Corp                                     | CUSIP: 749571AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $51707.55     | 0.02%             | 2032-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWDU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    219633 | PA      | $211029.13    | 0.07%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ENERGEAN ISRAEL FINANCE                     | Energean Israel Finance Ltd                                                    | CUSIP: 000000000<br>LEI: 98450044QACBL3F8EB03 | Long             | DBT              | CORP              | IL        |     95000 | PA      | $93943.22     | 0.03%             | 2028-03-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked N              | Ally Bank Auto Credit-Linked Notes Series 2024-B                               | CUSIP: 02007G4H3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    445097 | PA      | $457115.21    | 0.15%             | 2032-09-15      | Fixed         | 11.39%                | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWE66<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1352353 | PA      | $1330296.12   | 0.44%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                           | Newell Brands Inc                                                              | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    135000 | PA      | $133438.08    | 0.04%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38385B3C2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1004882 | PA      | $648218.14    | 0.22%             | 2052-08-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DUQT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    358052 | PA      | $364830.98    | 0.12%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/F              | Ford Credit Auto Owner Trust 2023-REV1                                         | CUSIP: 34535QAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425000 | PA      | $435411.65    | 0.15%             | 2035-08-15      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382CDW8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1180431 | PA      | $4962.77      | 0.00%             | 2050-01-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                     | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                | CUSIP: 91327BAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $99782.66     | 0.03%             | 2028-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 10YR NOTE (CBT)                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        59 | NC      | $-71777.50    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| NINE ENERGY SERVICE INC                     | Nine Energy Service Inc                                                        | CUSIP: 65441VAE1<br>LEI: 549300KRLJCZBPZMKT65 | Long             | DBT              | CORP              | US        |    140000 | PA      | $34444.20     | 0.01%             | 2028-02-01      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| MURPHY OIL CORP                             | Murphy Oil Corp                                                                | CUSIP: 626717AP7<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59949.75     | 0.02%             | 2032-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| INVITATION HOMES OP                         | Invitation Homes Operating Partnership LP                                      | CUSIP: 46188BAA0<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              | CORP              | US        |    585000 | PA      | $509472.81    | 0.17%             | 2031-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                    | MSCI Inc                                                                       | CUSIP: 55354GAS9<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    145000 | PA      | $143016.55    | 0.05%             | 2036-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                          | Meta Platforms Inc                                                             | CUSIP: 30303MAE2<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    300000 | PA      | $285444.73    | 0.10%             | 2055-11-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PACIFICORP                                  | PacifiCorp                                                                     | CUSIP: 695114DF2<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |    470000 | PA      | $482691.88    | 0.16%             | 2055-09-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382VET2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3937168 | PA      | $17295.58     | 0.01%             | 2051-06-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| CFK Trust                                   | CFK Trust 2020-MF2                                                             | CUSIP: 12529AAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    775000 | PA      | $589165.93    | 0.20%             | 2039-03-15      | Variable      | 3.46%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382P5E8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    604764 | PA      | $79330.19     | 0.03%             | 2051-03-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2024-BRBK                                         | CUSIP: 05613NAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    495000 | PA      | $496856.25    | 0.17%             | 2041-10-15      | Floating      | 9.65%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2016-NXS6                                | CUSIP: 95000KAJ4<br>LEI: 549300CFP9NBBMZH1008 | Long             | ABS-MBS          | CORP              | US        |    630000 | PA      | $542432.39    | 0.18%             | 2049-11-15      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| BELRON UK FINANCE PLC                       | Belron UK Finance PLC                                                          | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |    115000 | PA      | $117189.75    | 0.04%             | 2029-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R07                                   | CUSIP: 20754MCB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $105036.32    | 0.04%             | 2042-06-25      | Floating      | 8.35%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                      | General Motors Financial Co Inc                                                | CUSIP: 37045XDV5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    365000 | PA      | $365449.54    | 0.12%             | 2029-04-06      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| CD Commercial Mortgage Trust                | CD 2017-CD4 Mortgage Trust                                                     | CUSIP: 12515DAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    495000 | PA      | $434949.62    | 0.15%             | 2050-05-10      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2017-BNK7                                                                 | CUSIP: 06541XAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    245000 | PA      | $220902.71    | 0.07%             | 2060-09-15      | Variable      | 3.97%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                    | Organon & Co / Organon Foreign Debt Co-Issuer BV                               | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $272445.90    | 0.09%             | 2031-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                      | CHL Mortgage Pass-Through Trust 2005-9                                         | CUSIP: 12669GYY1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     33319 | PA      | $29766.09     | 0.01%             | 2035-05-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| SEADRILL FINANCE LTD                        | Seadrill Finance Ltd                                                           | CUSIP: 81172QAA2<br>LEI: 213800WMN3OHFUDHD642 | Long             | DBT              | CORP              | BM        |    100000 | PA      | $104758.70    | 0.03%             | 2030-08-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | Barclays PLC                                                                   | CUSIP: 06738ECY9<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    805000 | PA      | $831132.87    | 0.28%             | 2031-02-25      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                          | Banco Santander SA                                                             | CUSIP: 05971KAG4<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $182389.71    | 0.06%             | 2030-12-03      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| CLUE OPCO LLC                               | Clue Opco LLC                                                                  | CUSIP: 36267QAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $143125.11    | 0.05%             | 2031-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                | AGL CLO 17 Ltd                                                                 | CUSIP: 00120DAL0<br>LEI: 254900ISUA07JPVCOS18 | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $700154.70    | 0.23%             | 2035-01-21      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137H5N86<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    761875 | PA      | $136301.09    | 0.05%             | 2050-09-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382P5H1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    472758 | PA      | $62004.73     | 0.02%             | 2051-03-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                    | Organon & Co / Organon Foreign Debt Co-Issuer BV                               | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    550000 | PA      | $539450.73    | 0.18%             | 2028-04-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| FLEX INTERMEDIATE HOLDCO                    | Flex Intermediate Holdco LLC                                                   | CUSIP: 33939HAA7<br>LEI: 549300290TQIGM30A243 | Long             | DBT              | CORP              | US        |    635000 | PA      | $585053.55    | 0.20%             | 2031-06-30      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| ENERSYS                                     | EnerSys                                                                        | CUSIP: 29275YAF9<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103574.20    | 0.03%             | 2032-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| INSIGHT ENTERPRS                            | Insight Enterprises Inc                                                        | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |    165000 | PA      | $168909.84    | 0.06%             | 2032-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382KVX8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1279021 | PA      | $189107.78    | 0.06%             | 2050-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                           | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    605000 | PA      | $555168.19    | 0.19%             | 2032-04-22      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                    | Celanese US Holdings LLC                                                       | CUSIP: 15089QAX2<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105795.10    | 0.04%             | 2030-11-15      | Variable      | 7.05%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                             | Fannie Mae Interest Strip                                                      | CUSIP: 31424UWR3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1058322 | PA      | $234199.97    | 0.08%             | 2053-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARTERA SERVICES LLC                         | Artera Services LLC                                                            | CUSIP: 04302XAA2<br>LEI: 549300J2G34D0WX8Z443 | Long             | DBT              | CORP              | US        |     55000 | PA      | $44706.59     | 0.01%             | 2031-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| LIFEPOINT HEALTH INC                        | LifePoint Health Inc                                                           | CUSIP: 53219LAY5<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    110000 | PA      | $119524.90    | 0.04%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| MARB BONDCO PLC                             | MARB BondCo PLC                                                                | CUSIP: 566007AC4<br>LEI: 254900PVA1EU6QM1JN57 | Long             | DBT              | CORP              | GB        |   1010000 | PA      | $913753.16    | 0.31%             | 2031-01-29      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Camelot US Acquisition LLC                  | Camelot U.S. Acq 01/31/31                                                      | CUSIP: 000000000<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |    100000 | PA      | $94333.30     | 0.03%             | 2031-01-31      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| ZIGGO BV                                    | Ziggo BV                                                                       | CUSIP: 98955DAA8<br>LEI: 213800TQASLF9JXH5J59 | Long             | DBT              | CORP              | NL        |    225000 | PA      | $212414.47    | 0.07%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WASTE PRO USA INC                           | Waste Pro USA Inc                                                              | CUSIP: 94107JAC7<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |     65000 | PA      | $66778.73     | 0.02%             | 2033-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Great Lakes CLO Ltd                         | Great Lakes CLO 2019-1 Ltd                                                     | CUSIP: 390578AT9<br>LEI: 2549000VKJWRC8TSA617 | Long             | ABS-CBDO         | CORP              | KY        |    515000 | PA      | $516371.45    | 0.17%             | 2037-04-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                    | Celanese US Holdings LLC                                                       | CUSIP: 15089QAW4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     63000 | PA      | $66136.27     | 0.02%             | 2028-11-15      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                         | Churchill Downs Inc                                                            | CUSIP: 12511VAA6<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    375000 | PA      | $377032.88    | 0.13%             | 2030-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XTCZ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1582109 | PA      | $1292229.73   | 0.43%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL CORP                             | Murphy Oil Corp                                                                | CUSIP: 626717AQ5<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |     70000 | PA      | $69747.09     | 0.02%             | 2034-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GLOBAL MEDICAL RESPONSE                     | Global Medical Response Inc                                                    | CUSIP: 37960BAD7<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103399.00    | 0.03%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BFES8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1326001 | PA      | $283548.04    | 0.09%             | 2051-03-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                     | United Rentals North America Inc                                               | CUSIP: 911365BS2<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119929.44    | 0.04%             | 2033-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                       | Molina Healthcare Inc                                                          | CUSIP: 60855RAN0<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76863.60     | 0.03%             | 2031-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Kinetic ABS Issuer LLC                      | Kinetic ABS Issuer LLC                                                         | CUSIP: 49459AAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    580000 | PA      | $580362.50    | 0.19%             | 2056-02-25      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                    | Electricite de France SA                                                       | CUSIP: 28504KAA5<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |     40000 | PA      | $47345.24     | 0.02%             | N/A             | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                        | LifePoint Health Inc                                                           | CUSIP: 53219LAX7<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    155000 | PA      | $163528.05    | 0.05%             | 2032-06-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382XY58<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    892641 | PA      | $23904.75     | 0.01%             | 2051-09-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMER PIPELINE                    | Plains All American Pipeline LP / PAA Finance Corp                             | CUSIP: 72650RBS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    285000 | PA      | $289152.74    | 0.10%             | 2036-01-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP                         | NOVA Chemicals Corp                                                            | CUSIP: 66977WAT6<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $313346.40    | 0.10%             | 2028-11-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                          | Ally Financial Inc                                                             | CUSIP: 02005NBT6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    465000 | PA      | $490411.65    | 0.16%             | 2029-06-13      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| BALTIMORE GAS & ELECTRIC                    | Baltimore Gas and Electric Co                                                  | CUSIP: 059165EP1<br>LEI: 88V8C2WYSOD1SPSSLH72 | Long             | DBT              | CORP              | US        |    720000 | PA      | $605635.61    | 0.20%             | 2052-06-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                            | Deutsche Bank AG/New York NY                                                   | CUSIP: 251526CF4<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    570000 | PA      | $540385.31    | 0.18%             | 2032-01-14      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                     | Central Garden & Pet Co                                                        | CUSIP: 153527AM8<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |    450000 | PA      | $449645.36    | 0.15%             | 2028-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Bank                                        | Bank 2019-BNK19                                                                | CUSIP: 06540WBG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    490000 | PA      | $362371.22    | 0.12%             | 2061-08-15      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| CVS PASS-THROUGH TRUST                      | CVS Pass-Through Trust                                                         | CUSIP: 126650BY5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    103489 | PA      | $106121.30    | 0.04%             | 2034-01-10      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                      | Cloud Software Group Inc                                                       | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    500000 | PA      | $496883.78    | 0.17%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                    | Ford Motor Credit Co LLC                                                       | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    760000 | PA      | $756297.77    | 0.25%             | 2027-08-17      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                    | Capital One Financial Corp                                                     | CUSIP: 14040HDP7<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    350000 | PA      | $350104.41    | 0.12%             | 2032-01-30      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC                         | Lightning Power LLC                                                            | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |    400000 | PA      | $425757.60    | 0.14%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| LCPR SR SECURED FIN DAC                     | LCPR Senior Secured Financing DAC                                              | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $139500.00    | 0.05%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                        | LifePoint Health Inc                                                           | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    250000 | PA      | $272644.25    | 0.09%             | 2030-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                 | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $923296.53    | 0.31%             | 2036-09-16      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| BELROSE FUNDING TRUST II                    | Belrose Funding Trust II                                                       | CUSIP: 08079KAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $681477.39    | 0.23%             | 2055-05-15      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                     | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    512688 | PA      | $325523.23    | 0.11%             | 2060-07-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                               | ZF North America Capital Inc                                                   | CUSIP: 98877DAH8<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    140000 | PA      | $143498.46    | 0.05%             | 2031-03-24      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GRAHAM HOLDINGS CO                          | Graham Holdings Co                                                             | CUSIP: 384637AC8<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100482.30    | 0.03%             | 2033-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ACQUIROR LP                         | Prairie Acquiror LP                                                            | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77790.08     | 0.03%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| AECOM                                       | AECOM                                                                          | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    120000 | PA      | $122927.64    | 0.04%             | 2033-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384KHH7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1146782 | PA      | $193304.28    | 0.06%             | 2051-07-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                     | Talen Energy Sup 12/11/31                                                      | CUSIP: 87422LAY6<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |    544500 | PA      | $544500.00    | 0.18%             | 2031-12-15      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                    | Western Midstream Operating LP                                                 | CUSIP: 958667AA5<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    680000 | PA      | $583957.57    | 0.19%             | 2050-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| GARRETT MOTION HLD/SARL                     | Garrett Motion Holdings Inc / Garrett LX I Sarl                                | CUSIP: 366504AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $95283.54     | 0.03%             | 2032-05-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                    | RHP Hotel Properties LP / RHP Finance Corp                                     | CUSIP: 749571AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $57012.56     | 0.02%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                    | Avolon Holdings Funding Ltd                                                    | CUSIP: 05401ABD2<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    390000 | PA      | $387922.56    | 0.13%             | 2031-01-30      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                               | Amphenol Corp                                                                  | CUSIP: 032095BB6<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71543.40     | 0.02%             | 2055-11-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                      | American Honda Finance Corp                                                    | CUSIP: 02665WGF2<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    715000 | PA      | $734510.21    | 0.25%             | 2032-07-09      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                               | Cable One Inc                                                                  | CUSIP: 12685JAE5<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196500.00    | 0.07%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust               | UBS Commercial Mortgage Trust 2018-C9                                          | CUSIP: 90291JBB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $376937.77    | 0.13%             | 2051-03-15      | Variable      | 4.96%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382PZ47<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    692030 | PA      | $90351.22     | 0.03%             | 2051-03-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| BRISTOW GROUP INC                           | Bristow Group Inc                                                              | CUSIP: 11040GAB9<br>LEI: 5493005Q24EN3UC1PV68 | Long             | DBT              | CORP              | US        |    115000 | PA      | $116347.32    | 0.04%             | 2033-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PETSMART LLC/PETSMART FI                    | PetSmart LLC / PetSmart Finance Corp                                           | CUSIP: 71677KAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    305000 | PA      | $312765.61    | 0.10%             | 2032-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITE                    | Perrigo Finance Unlimited Co                                                   | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |    100000 | PA      | $98352.69     | 0.03%             | 2032-09-30      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HAYG5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    311219 | PA      | $251432.42    | 0.08%             | 2053-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                      | Clearway Energy Operating LLC                                                  | CUSIP: 18539UAG0<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35127.59     | 0.01%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                     | Light & Wonder International Inc                                               | CUSIP: 531968AB1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |     80000 | PA      | $81000.00     | 0.03%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| COTY/HFC PRESTIGE/INT US                    | Coty Inc/HFC Prestige Products Inc/HFC Prestige International US LLC           | CUSIP: 222070AG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1420000 | PA      | $1405177.61   | 0.47%             | 2029-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                        | LifePoint Health Inc                                                           | CUSIP: 53219LAU3<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |     90000 | PA      | $87390.15     | 0.03%             | 2029-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WATCO COS LLC/FINANCE CO                    | Watco Cos LLC / Watco Finance Corp                                             | CUSIP: 941130AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $314487.00    | 0.10%             | 2032-08-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN TITAN FIN LTD                    | Transocean Titan Financing Ltd                                                 | CUSIP: 89386MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     80952 | PA      | $82580.17     | 0.03%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2019-B11 Mortgage Trust                                              | CUSIP: 08162BBE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    315000 | PA      | $306494.69    | 0.10%             | 2052-05-15      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| VERSANT MEDIA GROUP INC                     | Versant Media Group Inc                                                        | CUSIP: 925283AA1<br>LEI: 254900D2Q5F5F229PU30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204957.91    | 0.07%             | 2031-01-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                     | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    362842 | PA      | $221658.14    | 0.07%             | 2061-03-15      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                     | Light & Wonder International Inc                                               | CUSIP: 531968AA3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    200000 | PA      | $209289.20    | 0.07%             | 2031-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                      | XPLR Infrastructure Operating Partners LP                                      | CUSIP: 65342QAM4<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103188.40    | 0.03%             | 2029-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HAZG4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    232993 | PA      | $194758.95    | 0.07%             | 2053-10-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD LP                        | Cantor Fitzgerald LP                                                           | CUSIP: 138616AM9<br>LEI: 549300RLUEEVQEMX0450 | Long             | DBT              | CORP              | US        |    490000 | PA      | $521638.29    | 0.17%             | 2028-12-12      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| BMO 2022-C1 Mortgage Trust                  | BMO 2022-C1 Mortgage Trust                                                     | CUSIP: 05609MCJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    840000 | PA      | $789319.36    | 0.26%             | 2055-02-17      | Variable      | 3.27%                 | No            |                  2 | On Loan: No      |
| Diameter Capital CLO                        | Diameter Capital CLO 5 Ltd                                                     | CUSIP: 25255RAL3<br>LEI: 254900DQ6NEBLANVO137 | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $701990.10    | 0.23%             | 2039-01-15      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                          | Seasoned Credit Risk Transfer Trust Series 2025-1                              | CUSIP: 35563PYZ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1101129 | PA      | $958321.00    | 0.32%             | 2064-11-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384BPQ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2008471 | PA      | $89164.86     | 0.03%             | 2053-06-20      | Floating      | 1.55%                 | No            |                  2 | On Loan: No      |
| LCPR SR SECURED FIN DAC                     | LCPR Senior Secured Financing DAC                                              | CUSIP: 50201DAD5<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $132999.86    | 0.04%             | 2029-07-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HAFC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    315792 | PA      | $213739.54    | 0.07%             | 2050-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                  | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1016829.00   | 0.34%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383FAC7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1626053 | PA      | $1402.63      | 0.00%             | 2051-12-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                    | Live Nation Entertainment Inc                                                  | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499845.30    | 0.17%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 2YR NOTE (CBT)                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -133 | NC      | $48392.14     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Communications LL              | Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC                | CUSIP: 315961AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    515000 | PA      | $521466.70    | 0.17%             | 2055-12-20      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                               | Cable One Inc                                                                  | CUSIP: 12685JAC9<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |     75000 | PA      | $54589.15     | 0.02%             | 2030-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JAMES HARDIE INTL FIN                       | James Hardie International Finance DAC                                         | CUSIP: 47032FAB5<br>LEI: 635400G32A4Q1LVQ8M88 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $199775.61    | 0.07%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                | UBS Group AG                                                                   | CUSIP: 225401AV0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    550000 | PA      | $568860.72    | 0.19%             | 2028-08-11      | Fixed         | 6.44%                 | No            |                  2 | On Loan: No      |
| REAL HERO MERGER SUB 2                      | Real Hero Merger Sub 2 Inc                                                     | CUSIP: 75602BAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $93730.80     | 0.03%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                     | GLP Capital LP / GLP Financing II Inc                                          | CUSIP: 361841AP4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    930000 | PA      | $904905.35    | 0.30%             | 2030-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust              | Morgan Stanley Capital I Trust 2014-150E                                       | CUSIP: 61764BAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $985740.11    | 0.33%             | 2032-09-09      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |
| STAR LEASING CO LLC                         | Star Leasing Co LLC                                                            | CUSIP: 854938AA5<br>LEI: 549300WXKNX4PT3HSN71 | Long             | DBT              | CORP              | US        |    295000 | PA      | $282313.67    | 0.09%             | 2030-02-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R08                                   | CUSIP: 20755DAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    865000 | PA      | $919607.45    | 0.31%             | 2042-07-25      | Floating      | 9.30%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                           | Chord Energy Corp                                                              | CUSIP: 674215AQ1<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50974.92     | 0.02%             | 2030-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2025-DNA1                                        | CUSIP: 35564NGA5<br>LEI: 529900WZAMS87JCAOC53 | Long             | ABS-MBS          | CORP              | US        |    455000 | PA      | $455414.78    | 0.15%             | 2045-01-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC                            | Berry Global Inc                                                               | CUSIP: 085770AA3<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |    352000 | PA      | $352197.68    | 0.12%             | 2026-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                          | Ally Financial Inc                                                             | CUSIP: 02005NCA6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    630000 | PA      | $634042.67    | 0.21%             | 2033-07-31      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2024-R05                                   | CUSIP: 20754XAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1340000 | PA      | $1340842.73   | 0.45%             | 2044-07-25      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| CARS.COM INC                                | Cars.com Inc                                                                   | CUSIP: 14575EAA3<br>LEI: 5493002G6J07LNGX4M98 | Long             | DBT              | CORP              | US        |     90000 | PA      | $89796.18     | 0.03%             | 2028-11-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust Series 2025-NQM4                                      | CUSIP: 46660HAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    458570 | PA      | $459474.89    | 0.15%             | 2066-03-25      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                      | XPLR Infrastructure Operating Partners LP                                      | CUSIP: 98380MAB1<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     75000 | PA      | $78683.90     | 0.03%             | 2033-03-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                    | MSCI Inc                                                                       | CUSIP: 55354GAL4<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    145000 | PA      | $139157.23    | 0.05%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| JACOBS ENTERTAINMENT INC                    | Jacobs Entertainment Inc                                                       | CUSIP: 469815AK0<br>LEI: 5493004U9JIWY3HSUO63 | Long             | DBT              | CORP              | US        |    160000 | PA      | $157971.20    | 0.05%             | 2029-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                      | XPLR Infrastructure Operating Partners LP                                      | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     90000 | PA      | $94537.74     | 0.03%             | 2031-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Fortress Credit Opportunities               | Fortress Credit Opportunities XXI CLO LLC                                      | CUSIP: 34964UAN6<br>LEI: 254900WDNXJI5BDB6170 | Long             | ABS-CBDO         | CORP              | US        |    600000 | PA      | $601857.00    | 0.20%             | 2037-01-21      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2023-R07                                   | CUSIP: 20753BAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    540000 | PA      | $558720.50    | 0.19%             | 2043-09-25      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| CFCRE Commercial Mortgage Trus              | CFCRE Commercial Mortgage Trust 2016-C4                                        | CUSIP: 12531YAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    617007 | PA      | $601312.44    | 0.20%             | 2058-05-10      | Variable      | 4.77%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                     | Starwood Property Trust Inc                                                    | CUSIP: 85571BBG9<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60754.08     | 0.02%             | 2031-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                     | MPT Operating Partnership LP / MPT Finance Corp                                | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $107135.70    | 0.04%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BRISTOW GROUP INC                           | Bristow Group Inc                                                              | CUSIP: 11040GAA1<br>LEI: 5493005Q24EN3UC1PV68 | Long             | DBT              | CORP              | US        |    130000 | PA      | $130137.67    | 0.04%             | 2028-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384AQK2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    705097 | PA      | $569977.90    | 0.19%             | 2052-07-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                    | TK Elevator US Newco Inc                                                       | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    400000 | PA      | $400116.40    | 0.13%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140X83H8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    216810 | PA      | $201186.07    | 0.07%             | 2050-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                              | Gray Media Inc                                                                 | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     36000 | PA      | $38668.14     | 0.01%             | 2029-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| BOSTON GAS COMPANY                          | Boston Gas Co                                                                  | CUSIP: 100743AM5<br>LEI: FN7P4E7K9JOBORDEUX61 | Long             | DBT              | CORP              | US        |    275000 | PA      | $260692.85    | 0.09%             | 2032-03-16      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| EDGEWELL PERSONAL CARE                      | Edgewell Personal Care Co                                                      | CUSIP: 28035QAA0<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |    300000 | PA      | $300097.20    | 0.10%             | 2028-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                | Ares Loan Funding IX Ltd                                                       | CUSIP: 03990HAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    600000 | PA      | $601006.80    | 0.20%             | 2038-03-31      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| SESI LLC                                    | SESI LLC                                                                       | CUSIP: 78412FAX2<br>LEI: XDZ56K6RXS5J1ESBZS35 | Long             | DBT              | CORP              | US        |    140000 | PA      | $141165.50    | 0.05%             | 2030-09-30      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                | SM Energy Co                                                                   | CUSIP: 78454LAX8<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101138.30    | 0.03%             | 2029-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                    | First Quantum Minerals Ltd                                                     | CUSIP: 335934AV7<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $314725.20    | 0.11%             | 2029-03-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                       | Qnity Electronics Inc                                                          | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |     70000 | PA      | $71309.98     | 0.02%             | 2032-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                           | Iliad Holding SAS                                                              | CUSIP: 449691AF1<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |    215000 | PA      | $230226.30    | 0.08%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384CBE8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1033366 | PA      | $682122.18    | 0.23%             | 2051-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2025-R2                                             | CUSIP: 92541EAC6<br>LEI: 2138003KWTZZS4PBW772 | Long             | ABS-MBS          | CORP              | US        |    621277 | PA      | $626002.88    | 0.21%             | 2067-07-25      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur              | Bridgecrest Lending Auto Securitization Trust 2024-1                           | CUSIP: 107933AF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1529496.00   | 0.51%             | 2029-11-15      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| Home Partners of America Trust              | Home Partners of America 2021-2 Trust                                          | CUSIP: 43732VAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     95950 | PA      | $94135.41     | 0.03%             | 2026-12-17      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch               | BAMLL Commercial Mortgage Securities Trust 2016-ISQ                            | CUSIP: 05523GAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    735000 | PA      | $610968.75    | 0.20%             | 2034-08-14      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                 | Vistra Corp                                                                    | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203687.40    | 0.07%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TRINET GROUP INC                            | TriNet Group Inc                                                               | CUSIP: 896288AA5<br>LEI: 5299003FJVBETSFKE990 | Long             | DBT              | CORP              | US        |    200000 | PA      | $189017.54    | 0.06%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382WBD8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1045602 | PA      | $142527.03    | 0.05%             | 2051-07-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382ML56<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    630902 | PA      | $96489.53     | 0.03%             | 2050-12-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                              | Gray Media Inc                                                                 | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61857.09     | 0.02%             | 2032-07-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA VEND FIN IV                    | Virgin Media Vendor Financing Notes IV DAC                                     | CUSIP: 92770QAA5<br>LEI: 635400ZZNJSEA4CAJR23 | Long             | DBT              | CORP              | IE        |    235000 | PA      | $235000.00    | 0.08%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                   | Amgen Inc                                                                      | CUSIP: 031162DU1<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    725000 | PA      | $708827.98    | 0.24%             | 2063-03-02      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WILDFIRE INTERMEDIATE HO                    | Wildfire Intermediate Holdings LLC                                             | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101378.60    | 0.03%             | 2029-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                               | Cable One Inc                                                                  | CUSIP: 12685JAG0<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    160000 | PA      | $121600.00    | 0.04%             | 2028-03-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| MULTIFAMILY CONNECTICUT AVENUE              | Multifamily Connecticut Avenue Securities Trust 2020-01                        | CUSIP: 62548QAF8<br>LEI: 5493002KQF9IH3CTQZ40 | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $206804.72    | 0.07%             | 2050-03-25      | Floating      | 11.31%                | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382RLF3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    152836 | PA      | $22893.64     | 0.01%             | 2051-04-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FW2G4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1472760 | PA      | $263921.28    | 0.09%             | 2050-09-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TK Elevator US Newco Inc                    | TK Elevator Midc 04/30/30                                                      | CUSIP: 000000000<br>LEI: 549300C2AFWPAYWS5574 | Long             | LON              | CORP              | US        |    102927 | PA      | $103056.15    | 0.03%             | 2030-04-30      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| IHO VERWALTUNGS GMBH                        | IHO Verwaltungs GmbH                                                           | CUSIP: 44963BAG3<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |     60000 | PA      | $63943.20     | 0.02%             | 2032-11-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| VORNADO REALTY LP                           | Vornado Realty LP                                                              | CUSIP: 929043AN7<br>LEI: 549300BMOJ05INE4YK86 | Long             | DBT              | CORP              | US        |     90000 | PA      | $91028.86     | 0.03%             | 2033-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VOLTAGRID LLC                               | VoltaGrid LLC                                                                  | CUSIP: 92874BAA3<br>LEI: 254900R5BEUGIKK1FM03 | Long             | DBT              | CORP              | US        |     90000 | PA      | $91153.02     | 0.03%             | 2030-11-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                     | Starwood Property Trust Inc                                                    | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104136.50    | 0.03%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                    | Ford Motor Credit Co LLC                                                       | CUSIP: 345397C43<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    435000 | PA      | $435745.19    | 0.15%             | 2026-03-06      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                  | DaVita Inc                                                                     | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72166.19     | 0.02%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| AUTONATION INC                              | AutoNation Inc                                                                 | CUSIP: 05329WAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    313000 | PA      | $315739.34    | 0.11%             | 2030-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HUNTSMAN INTERNATIONAL L                    | Huntsman International LLC                                                     | CUSIP: 44701QBE1<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |    865000 | PA      | $832337.88    | 0.28%             | 2029-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                     | BPCE SA                                                                        | CUSIP: 05583JAK8<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   1220000 | PA      | $1202890.18   | 0.40%             | 2027-10-19      | Fixed         | 2.04%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                           | Iron Mountain Inc                                                              | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99971.49     | 0.03%             | 2028-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TK Elevator US Newco Inc                    | TK Elevator Midc 04/30/30                                                      | CUSIP: 000000000<br>LEI: 549300C2AFWPAYWS5574 | Long             | LON              | CORP              | US        |     95576 | PA      | $95695.73     | 0.03%             | 2030-04-30      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                    | Citizens Financial Group Inc                                                   | CUSIP: 174610AT2<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    445000 | PA      | $425481.21    | 0.14%             | 2030-04-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                         | Synchrony Financial                                                            | CUSIP: 87165BAW3<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    850000 | PA      | $866454.73    | 0.29%             | 2031-03-06      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                      | XPLR Infrastructure Operating Partners LP                                      | CUSIP: 65342QAB8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49545.38     | 0.02%             | 2027-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MOTION BONDCO DAC                           | Motion Bondco DAC                                                              | CUSIP: 61978XAA5<br>LEI: 635400KFD3IETNQLA755 | Long             | DBT              | CORP              | IE        |    140000 | PA      | $132876.31    | 0.04%             | 2027-11-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                 | Hertz Vehicle Financing III LLC                                                | CUSIP: 42806MDQ9<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |    735000 | PA      | $741016.78    | 0.25%             | 2032-05-25      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| IHO VERWALTUNGS GMBH                        | IHO Verwaltungs GmbH                                                           | CUSIP: 44963BAF5<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |    500000 | PA      | $525658.43    | 0.18%             | 2030-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                            | Societe Generale SA                                                            | CUSIP: 83368RCL4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    470000 | PA      | $470345.71    | 0.16%             | 2030-04-12      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                           | Herc Holdings Inc                                                              | CUSIP: 42704LAH7<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25177.50     | 0.01%             | 2031-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                        | Commercial Metals Co                                                           | CUSIP: 201723AS2<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |     67000 | PA      | $68118.70     | 0.02%             | 2033-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Iss              | New Economy Assets - Phase 1 Sponsor LLC                                       | CUSIP: 643821AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    865000 | PA      | $545959.80    | 0.18%             | 2061-10-20      | Fixed         | 2.41%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                  | BFLD Commercial Mortgage Trust 2025-5MW                                        | CUSIP: 088921AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    595000 | PA      | $594711.83    | 0.20%             | 2042-10-10      | Variable      | 4.67%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383F6G3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1039494 | PA      | $10260.12     | 0.00%             | 2052-06-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BBCM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    790000 | PA      | $603533.93    | 0.20%             | 2050-08-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                 | Oracle Corp                                                                    | CUSIP: 68389XDT9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    325000 | PA      | $283149.95    | 0.09%             | 2065-09-26      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                       | QXO Building Products Inc                                                      | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103048.00    | 0.03%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                | SM Energy Co                                                                   | CUSIP: 78454LAY6<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60153.74     | 0.02%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SOLSTICE ADVANCED MATERI                    | Solstice Advanced Materials Inc                                                | CUSIP: 83443QAA1<br>LEI: 2138004GZ4H9TW6HK435 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100528.60    | 0.03%             | 2033-09-30      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| American Rock Salt Co LLC                   | AMR ROCK SALT 06/12/28                                                         | CUSIP: 02932JAP2<br>LEI: 549300FBKBNV4GSVVR46 | Long             | LON              | CORP              | US        |    197416 | PA      | $166652.09    | 0.06%             | 2028-06-12      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                           | CLARIOS GL 01/14/32                                                            | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |     99750 | PA      | $99812.34     | 0.03%             | 2032-01-28      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| TELUS CORP                                  | TELUS Corp                                                                     | CUSIP: 87971MCQ4<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |     60000 | PA      | $60620.10     | 0.02%             | 2056-06-09      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384KVY4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5176139 | PA      | $203538.72    | 0.07%             | 2054-03-20      | Floating      | 1.50%                 | 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        |    200000 | PA      | $203701.40    | 0.07%             | 2032-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2022-J1 Trust                                                              | CUSIP: 67116WAP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    729160 | PA      | $608392.59    | 0.20%             | 2052-02-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R02                                   | CUSIP: 20754BAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    490000 | PA      | $518038.78    | 0.17%             | 2042-01-25      | Floating      | 11.35%                | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP                            | Black Hills Corp                                                               | CUSIP: 092113AY5<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |    950000 | PA      | $949439.08    | 0.32%             | 2031-01-31      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| UKG INC                                     | UKG Inc                                                                        | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |    450000 | PA      | $449637.26    | 0.15%             | 2031-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Iss              | New Economy Assets - Phase 1 Sponsor LLC                                       | CUSIP: 643821AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    420000 | PA      | $352744.31    | 0.12%             | 2061-10-20      | Fixed         | 1.91%                 | No            |                  2 | On Loan: No      |
| ALGONQUIN PWR & UTILITY                     | Algonquin Power & Utilities Corp                                               | CUSIP: 015857AF2<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |    950000 | PA      | $954271.21    | 0.32%             | 2026-06-15      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381KAF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    635000 | PA      | $465675.03    | 0.16%             | 2064-08-16      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                     | Dell International LLC / EMC Corp                                              | CUSIP: 24703DBF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    340000 | PA      | $256993.44    | 0.09%             | 2041-12-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INTERNTNL LTD                    | Transocean International Ltd                                                   | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |    187500 | PA      | $195456.38    | 0.07%             | 2030-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                            | CSC Holdings LLC                                                               | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    350000 | PA      | $308925.23    | 0.10%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2023-R03                                   | CUSIP: 20753AAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    275000 | PA      | $289923.95    | 0.10%             | 2043-04-25      | Floating      | 7.60%                 | No            |                  2 | On Loan: No      |
| DURST Commercial Mortgage Trus              | Durst Commercial Mortgage Trust 2025-151                                       | CUSIP: 266895AG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    655000 | PA      | $674628.71    | 0.23%             | 2042-08-10      | Variable      | 7.02%                 | No            |                  2 | On Loan: No      |
| USB REALTY CORP                             | USB Realty Corp                                                                | CUSIP: 903312AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    480000 | PA      | $403405.63    | 0.13%             | N/A             | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                              | Rocket Cos Inc                                                                 | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $98558.80     | 0.03%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                           | Herc Holdings Inc                                                              | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    205000 | PA      | $215160.42    | 0.07%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| 1261229 BC Ltd                              | 1261229 B 10/08/30                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |    100000 | PA      | $97375.00     | 0.03%             | 2030-10-08      | Floating      | 9.92%                 | No            |                  2 | On Loan: No      |
| DCLI BIDCO LLC                              | Dcli Bidco LLC                                                                 | CUSIP: 233104AA6<br>LEI: 2549007UUVJTHHNK9T70 | Long             | DBT              | CORP              | US        |     85000 | PA      | $86485.04     | 0.03%             | 2029-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137F6PH4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    643803 | PA      | $117652.97    | 0.04%             | 2050-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136B4XC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    852224 | PA      | $92404.67     | 0.03%             | 2049-06-25      | Floating      | 2.24%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                           | Nexstar Media Inc                                                              | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49698.11     | 0.02%             | 2028-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                              | Rocket Cos Inc                                                                 | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $133095.17    | 0.04%             | 2030-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 5YR NOTE (CBT)                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         8 | NC      | $2170.14      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NA Rail Hold Co LLC                         | PATRIOT RAIL 02/26/32                                                          | CUSIP: 000000000<br>LEI: 549300WBUJ0EQ32JFK65 | Long             | LON              | CORP              | US        |     99500 | PA      | $99593.33     | 0.03%             | 2032-03-08      | Floating      | 6.74%                 | No            |                  2 | On Loan: No      |
| STONEX GROUP INC                            | StoneX Group Inc                                                               | CUSIP: 861896AA6<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |    375000 | PA      | $398956.13    | 0.13%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                        | Commercial Metals Co                                                           | CUSIP: 201723AV5<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |     68000 | PA      | $69476.23     | 0.02%             | 2035-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OneMain Direct Auto Receivable              | OneMain Direct Auto Receivables Trust 2019-1                                   | CUSIP: 68267EAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    385000 | PA      | $384619.77    | 0.13%             | 2031-04-14      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381QQF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    982252 | PA      | $76483.75     | 0.03%             | 2055-08-20      | Floating      | 2.35%                 | No            |                  2 | On Loan: No      |
| Tricon Residential                          | Tricon Residential 2024-SFR4 Trust                                             | CUSIP: 895975AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    490822 | PA      | $486972.16    | 0.16%             | 2041-11-17      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                        | M&T Bank Corp                                                                  | CUSIP: 55261FAT1<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    410000 | PA      | $435491.91    | 0.15%             | 2032-03-13      | Fixed         | 6.08%                 | No            |                  2 | On Loan: No      |
| RANGE RESOURCES CORP                        | Range Resources Corp                                                           | CUSIP: 75281ABK4<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147941.99    | 0.05%             | 2030-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EV98<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    359971 | PA      | $370349.77    | 0.12%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3133KNLB7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    803860 | PA      | $693845.62    | 0.23%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| HOLOGIC INC                                 | Hologic Inc                                                                    | CUSIP: 436440AM3<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |     85000 | PA      | $84904.10     | 0.03%             | 2028-02-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| KEN GARFF AUTOMOTIVE LLC                    | Ken Garff Automotive LLC                                                       | CUSIP: 48850PAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $99312.92     | 0.03%             | 2028-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| STL HOLDING CO LLC                          | STL Holding Co LLC                                                             | CUSIP: 861036AB7<br>LEI: 984500BC2I63E7F48656 | Long             | DBT              | CORP              | US        |     65000 | PA      | $68352.64     | 0.02%             | 2029-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| ALLIANCE RES OP/FINANCE                     | Alliance Resource Operating Partners LP / Alliance Resource Finance Corp       | CUSIP: 01879NAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $157946.70    | 0.05%             | 2029-06-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| STONEX ESCROW ISSUER LLC                    | Stonex Escrow Issuer LLC                                                       | CUSIP: 86189AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    155000 | PA      | $159913.35    | 0.05%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PERIMETER HOL                               | Perimeter Holdings LLC                                                         | CUSIP: 71384AAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $125005.00    | 0.04%             | 2034-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                       | Foundry JV Holdco LLC                                                          | CUSIP: 350930AJ2<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    595000 | PA      | $628695.89    | 0.21%             | 2037-01-25      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                             | Yum! Brands Inc                                                                | CUSIP: 988498AP6<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    400000 | PA      | $391107.80    | 0.13%             | 2032-01-31      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BBX23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    700638 | PA      | $86921.53     | 0.03%             | 2050-10-25      | Floating      | 2.44%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                    | Outfront Media Capital LLC / Outfront Media Capital Corp                       | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $149969.03    | 0.05%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                       | PennyMac Financial Services Inc                                                | CUSIP: 70932MAB3<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    250000 | PA      | $240576.05    | 0.08%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AMSTED INDUSTRIES                           | Amsted Industries Inc                                                          | CUSIP: 032177AK3<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62096.46     | 0.02%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AUST & NZ BANKING GROUP                     | Australia & New Zealand Banking Group Ltd                                      | CUSIP: 052528AR7<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |    610000 | PA      | $632099.76    | 0.21%             | 2034-09-18      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities               | GS Mortgage-Backed Securities Trust 2023-PJ1                                   | CUSIP: 36267TAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    449644 | PA      | $410699.61    | 0.14%             | 2053-02-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | J.P. Morgan Mortgage Trust 2022-1                                              | CUSIP: 46654WCK5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    719964 | PA      | $593910.36    | 0.20%             | 2052-07-25      | Variable      | 3.09%                 | No            |                  2 | On Loan: No      |
| CHOBANI HOLDCO II LLC                       | Chobani Holdco II LLC                                                          | CUSIP: 169918AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    168289 | PA      | $179366.96    | 0.06%             | 2029-10-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2019-HRP1                                  | CUSIP: 20754PAD2<br>LEI: 549300Z5THZ1JXIHVK60 | Long             | ABS-MBS          | CORP              | US        |    592085 | PA      | $625071.98    | 0.21%             | 2039-11-25      | Floating      | 13.06%                | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2025-VLT7                                                             | CUSIP: 123913AE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    585000 | PA      | $587559.38    | 0.20%             | 2044-07-15      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132E0FK3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    182014 | PA      | $157357.93    | 0.05%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                        | M&T Bank Corp                                                                  | CUSIP: 55261FAV6<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    430000 | PA      | $436025.45    | 0.15%             | 2036-01-16      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TALEN ENERGY SUPPLY LLC                     | Talen Energy Supply LLC                                                        | CUSIP: 87422VAM0<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |    120000 | PA      | $121615.20    | 0.04%             | 2034-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 91282CGH8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    540000 | PA      | $539641.41    | 0.18%             | 2028-01-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                       | PennyMac Financial Services Inc                                                | CUSIP: 70932MAC1<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98756.03     | 0.03%             | 2031-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EPC8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    527122 | PA      | $529130.50    | 0.18%             | 2053-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                        | Edison International                                                           | CUSIP: 281020BB2<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    850000 | PA      | $852503.90    | 0.28%             | 2032-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EXCELERATE ENERGY LP                        | Excelerate Energy LP                                                           | CUSIP: 30069UAA6<br>LEI: LGL4IE90TNTFYJ55BK06 | Long             | DBT              | CORP              | US        |    150000 | PA      | $160407.15    | 0.05%             | 2030-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2019-B14 Mortgage Trust                                              | CUSIP: 08162YAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $318666.74    | 0.11%             | 2062-12-15      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                       | HPEFS Equipment Trust 2024-1                                                   | CUSIP: 403963AF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    260000 | PA      | $263134.14    | 0.09%             | 2031-11-20      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| ENDO FINANCE HOLDINGS LP                    | Endo Finance Holdings LP                                                       | CUSIP: 29281RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    210000 | PA      | $222202.47    | 0.07%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD                    | Macquarie Airfinance Holdings Ltd                                              | CUSIP: 55609NAC2<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    850000 | PA      | $892897.80    | 0.30%             | 2029-03-26      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                      | Santander Holdings USA Inc                                                     | CUSIP: 80282KBF2<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    855000 | PA      | $891777.77    | 0.30%             | 2029-03-09      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AMSTED INDUSTRIES                           | Amsted Industries Inc                                                          | CUSIP: 032177AJ6<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49460.37     | 0.02%             | 2030-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                       | Tenet Healthcare Corp                                                          | CUSIP: 88033GDQ0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    400000 | PA      | $408203.60    | 0.14%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383CYH7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1190947 | PA      | $166922.58    | 0.06%             | 2050-11-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| EVERGY MISSOURI WEST INC                    | Evergy Missouri West Inc                                                       | CUSIP: 30037EAC7<br>LEI: EZIFUDC0VSUS6T6LCG85 | Long             | DBT              | CORP              | US        |    245000 | PA      | $245875.39    | 0.08%             | 2035-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JAZZ SECURITIES DAC                         | Jazz Securities DAC                                                            | CUSIP: 47216FAA5<br>LEI: 6354009DV8VV7K6KOO02 | Long             | DBT              | CORP              | IE        |    950000 | PA      | $934722.09    | 0.31%             | 2029-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TALEN ENERGY SUPPLY LLC                     | Talen Energy Supply LLC                                                        | CUSIP: 87422VAN8<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |    160000 | PA      | $164038.96    | 0.05%             | 2036-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                    | Vistra Operations Co LLC                                                       | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500356.50    | 0.17%             | 2027-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| FIRST HORIZON CORP                          | First Horizon Corp                                                             | CUSIP: 320517AE5<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | DBT              | CORP              | US        |    600000 | PA      | $617869.70    | 0.21%             | 2031-03-07      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                       | Huntington Bancshares Inc/OH                                                   | CUSIP: 446150BL7<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    390000 | PA      | $388114.25    | 0.13%             | 2041-01-28      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                            | Lamar Media Corp                                                               | CUSIP: 513075CA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $74803.17     | 0.02%             | 2033-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                    | Univision Communications Inc                                                   | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    100000 | PA      | $107665.60    | 0.04%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137H9YM5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    312508 | PA      | $294738.95    | 0.10%             | 2052-02-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOLOGIC INC                                 | Hologic Inc                                                                    | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149452.04    | 0.05%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES HOLDINGS                    | United Airlines Holdings Inc                                                   | CUSIP: 910047AL3<br>LEI: 98450079DA0B78DD6764 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55546.21     | 0.02%             | 2031-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HHAB7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4545134 | PA      | $163697.99    | 0.05%             | 2054-08-25      | Floating      | 1.65%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                      | Cloud Software Group Inc                                                       | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100977.13    | 0.03%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                    | Olympus Water US Holding Corp                                                  | CUSIP: 681639AE0<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64747.05     | 0.02%             | 2033-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                        | Noble Finance II LLC                                                           | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $208490.99    | 0.07%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383WJT4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    257394 | PA      | $271638.58    | 0.09%             | 2051-12-20      | Variable      | 6.46%                 | No            |                  2 | On Loan: No      |
| TOTAL PLAY TELECOM                          | Total Play Telecomunicaciones SA de CV                                         | CUSIP: 000000000<br>LEI: 4469000001BSAPAMOQ06 | Long             | DBT              | CORP              | MX        |    280000 | PA      | $268800.00    | 0.09%             | 2032-12-31      | Fixed         | 11.12%                | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383X4E1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    408196 | PA      | $464736.00    | 0.16%             | 2051-07-20      | Variable      | 7.83%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                  | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    110000 | PA      | $113851.76    | 0.04%             | 2034-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RB GLOBAL HOLDINGS INC                      | RB Global Holdings Inc                                                         | CUSIP: 76774LAC1<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |    500000 | PA      | $521193.50    | 0.17%             | 2031-03-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWEQ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2449073 | PA      | $2267696.34   | 0.76%             | 2052-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382MGE3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    712617 | PA      | $101042.71    | 0.03%             | 2050-12-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                     | Jane Street Group / JSG Finance Inc                                            | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    550000 | PA      | $578277.15    | 0.19%             | 2031-04-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384AWS8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    531254 | PA      | $505322.33    | 0.17%             | 2053-05-20      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                    | Discovery Communications LLC                                                   | CUSIP: 25470DCC1<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |     80000 | PA      | $73904.80     | 0.02%             | 2030-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                     | Global Partners LP / GLP Finance Corp                                          | CUSIP: 37954FAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25607.68     | 0.01%             | 2033-07-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Arches Buyer Inc                            | ANCESTRY (ARCHES 12/06/27                                                      | CUSIP: 03952HAD6<br>LEI: 2549009ADY4208OH2Y47 | Long             | LON              | CORP              | US        |     99217 | PA      | $98795.04     | 0.03%             | 2027-12-06      | Floating      | 7.02%                 | No            |                  2 | On Loan: No      |
| ZORLU ENERJI ELEKTRIK                       | Zorlu Enerji Elektrik Uretim AS                                                | CUSIP: 000000000<br>LEI: 7890005B5CSNL39OYO75 | Long             | DBT              | CORP              | TR        |    420000 | PA      | $391327.72    | 0.13%             | 2030-04-23      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| NATIONAL FUEL GAS CO                        | National Fuel Gas Co                                                           | CUSIP: 636180BU4<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |   1155000 | PA      | $1210545.11   | 0.40%             | 2035-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                     | Sensata Technologies BV                                                        | CUSIP: 81725WAL7<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    350000 | PA      | $355202.40    | 0.12%             | 2030-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383TLA9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5243676 | PA      | $54770.72     | 0.02%             | 2052-06-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                       | PennyMac Financial Services Inc                                                | CUSIP: 70932MAH0<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50456.75     | 0.02%             | 2034-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BSLE3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3244349 | PA      | $178999.51    | 0.06%             | 2054-07-25      | Floating      | 2.20%                 | No            |                  2 | On Loan: No      |
| JETBLUE 2019-1 CLASS AA                     | JetBlue 2019-1 Class AA Pass Through Trust                                     | CUSIP: 477143AH4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    697977 | PA      | $624135.48    | 0.21%             | 2032-05-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| COMPOSECURE HOLDINGS LLC                    | CompoSecure Holdings LLC                                                       | CUSIP: 20459XAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $119616.00    | 0.04%             | 2033-02-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| INNOPHOS HOLDINGS INC                       | Innophos Holdings Inc                                                          | CUSIP: 45774NAD0<br>LEI: XQ0331QX53IRX25OY417 | Long             | DBT              | CORP              | US        |    280000 | PA      | $275100.00    | 0.09%             | 2029-06-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                          | Subway Funding LLC                                                             | CUSIP: 864300AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    653400 | PA      | $662009.46    | 0.22%             | 2054-07-30      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                             | CUSIP: 36179WGS1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    515510 | PA      | $419473.04    | 0.14%             | 2051-06-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FWMZ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    723497 | PA      | $14739.80     | 0.00%             | 2050-10-25      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383XP99<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2053257 | PA      | $220661.08    | 0.07%             | 2051-04-20      | Floating      | 2.26%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                             | CUSIP: 3128HXY25<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    440945 | PA      | $342611.55    | 0.11%             | 2042-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2019-C51                                 | CUSIP: 95001VAZ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    460000 | PA      | $390115.83    | 0.13%             | 2052-06-15      | Variable      | 4.29%                 | No            |                  2 | On Loan: No      |
| QTS ISSUER ABS II LLC                       | QTS Issuer ABS II LLC                                                          | CUSIP: 74690FAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    550000 | PA      | $547409.72    | 0.18%             | 2055-10-05      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                     | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                   | CUSIP: 87470LAM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $91593.99     | 0.03%             | 2034-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                  | BFLD Commercial Mortgage Trust 2025-5MW                                        | CUSIP: 088921AC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $504559.86    | 0.17%             | 2042-10-10      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                 | RCKT Mortgage Trust 2021-5                                                     | CUSIP: 749384AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4219738 | PA      | $3541942.87   | 1.18%             | 2051-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2020-SBT1                                  | CUSIP: 20753VBT4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $1102174.50   | 0.37%             | 2040-02-25      | Floating      | 10.56%                | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381L5D0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    535000 | PA      | $468890.80    | 0.16%             | 2066-03-16      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| DREYFUS GOVERNMENT CASH MANAGE              | DREYFUS GOVERNMENT CASH MANAGE                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   9753631 | NS      | $9753630.80   | 3.26%             |  |  |  | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                    | Antero Midstream Partners LP / Antero Midstream Finance Corp                   | CUSIP: 03690AAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $55599.86     | 0.02%             | 2033-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38385B2H2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1144301 | PA      | $922335.34    | 0.31%             | 2055-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SG Commercial Mortgage Securit              | SG Commercial Mortgage Securities Trust 2016-C5                                | CUSIP: 78419CAK0<br>LEI: 549300SZQW4U3UN4A157 | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $385836.88    | 0.13%             | 2048-10-10      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| KEYBANK NATIONAL ASSN                       | Keybank National Association                                                   | CUSIP: 49327V2C7<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    720000 | PA      | $718989.35    | 0.24%             | 2032-08-08      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                     | Crescent Energy Finance LLC                                                    | CUSIP: 45344LAH6<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100250.00    | 0.03%             | 2029-07-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WE SODA INV HOLDING PLC                     | WE Soda Investments Holding PLC                                                | CUSIP: 92943TAC7<br>LEI: 984500SE38C07DB47A90 | Long             | DBT              | CORP              | GB        |    765000 | PA      | $791022.54    | 0.26%             | 2031-02-14      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| SKY1 Trust                                  | SKY Trust 2025-LINE                                                            | CUSIP: 830941AC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    363144 | PA      | $364524.31    | 0.12%             | 2042-04-15      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DSS52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    542074 | PA      | $554584.21    | 0.19%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                             | Fannie Mae Interest Strip                                                      | CUSIP: 31423YVM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1789076 | PA      | $323918.81    | 0.11%             | 2052-10-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P              | Freddie Mac Multifamily Structured Pass Through Certificates                   | CUSIP: 3137HHJF9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1260000 | PA      | $1290189.47   | 0.43%             | 2031-10-25      | Variable      | 4.68%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383X4D3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    395917 | PA      | $452005.29    | 0.15%             | 2051-11-20      | Variable      | 7.72%                 | No            |                  2 | On Loan: No      |
| NATIONWIDE BLDG SOCIETY                     | Nationwide Building Society                                                    | CUSIP: 63861VAF4<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |    960000 | PA      | $949619.71    | 0.32%             | 2028-02-16      | Fixed         | 2.97%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XRQF5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    752371 | PA      | $741029.91    | 0.25%             | 2053-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                   | ONEOK Inc                                                                      | CUSIP: 682680DD2<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    575000 | PA      | $578097.78    | 0.19%             | 2055-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ARIZONA PUBLIC SERVICE                      | Arizona Public Service Co                                                      | CUSIP: 040555DH4<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |    575000 | PA      | $603088.77    | 0.20%             | 2034-08-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                       | Directv Financing LLC                                                          | CUSIP: 254945AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $101250.90    | 0.03%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BGKA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    159867 | PA      | $18761.96     | 0.01%             | 2051-06-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd              | Golub Capital Partners CLO 78M                                                 | CUSIP: 381934AC2<br>LEI: 254900PSE4IZIZUH7U62 | Long             | ABS-CBDO         | CORP              | US        |    600000 | PA      | $601567.80    | 0.20%             | 2039-04-21      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2020-HQA1                                        | CUSIP: 35565JBE0<br>LEI: 549300TCRXCIFPAC3B85 | Long             | ABS-MBS          | CORP              | US        |    815000 | PA      | $908402.83    | 0.30%             | 2050-01-25      | Floating      | 8.91%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                          | Ally Financial Inc                                                             | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    330000 | PA      | $316308.10    | 0.11%             | N/A             | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2022-2                                     | CUSIP: 30166QAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    615000 | PA      | $600673.94    | 0.20%             | 2029-10-15      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                        | Edison International                                                           | CUSIP: 281020AZ0<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    335000 | PA      | $348917.91    | 0.12%             | 2054-06-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FU6G4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1351783 | PA      | $180792.88    | 0.06%             | 2050-07-25      | Floating      | 2.24%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38380RA75<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3431199 | PA      | $226780.66    | 0.08%             | 2061-03-16      | Variable      | 0.99%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                       | Mineral Resources Ltd                                                          | CUSIP: 603051AF0<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    150000 | PA      | $157643.34    | 0.05%             | 2031-04-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2018-B3 Mortgage Trust                                               | CUSIP: 08161BBC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $484564.80    | 0.16%             | 2051-04-10      | Variable      | 4.55%                 | No            |                  2 | On Loan: No      |
| Banc of America Commercial Mor              | Bank of America Merrill Lynch Commercial Mortgage Trust 2016-UBS10             | CUSIP: 06054MAW3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    640000 | PA      | $557019.46    | 0.19%             | 2049-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage               | Citigroup Commercial Mortgage Trust 2018-B2                                    | CUSIP: 17327FAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1420000 | PA      | $1081265.67   | 0.36%             | 2051-03-10      | Variable      | 3.14%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383XSW5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    395180 | PA      | $366644.04    | 0.12%             | 2053-04-20      | Floating      | 3.79%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382LLE9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    824668 | PA      | $106719.52    | 0.04%             | 2050-11-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| TALOS PRODUCTION INC                        | Talos Production Inc                                                           | CUSIP: 87485LAE4<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    360000 | PA      | $381366.36    | 0.13%             | 2031-02-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HLKW1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    784349 | PA      | $53431.29     | 0.02%             | 2055-06-25      | Floating      | 3.30%                 | No            |                  2 | On Loan: No      |
| SEALED AIR/SEALED AIR US                    | Sealed Air Corp/Sealed Air Corp US                                             | CUSIP: 812127AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $101492.60    | 0.03%             | 2028-02-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                  | Flagship Credit Auto Trust 2022-1                                              | CUSIP: 33845VAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    780000 | PA      | $757563.61    | 0.25%             | 2028-03-15      | Fixed         | 3.64%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                             | Zayo Issuer LLC                                                                | CUSIP: 98919WAN3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    710000 | PA      | $714458.16    | 0.24%             | 2055-10-20      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                 | BNP Paribas SA                                                                 | CUSIP: 09659W2K9<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    440000 | PA      | $416671.75    | 0.14%             | 2031-01-13      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                   | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C22                    | CUSIP: 61690FAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    900000 | PA      | $508590.00    | 0.17%             | 2048-04-15      | Variable      | 3.97%                 | No            |                  2 | On Loan: No      |
| VEDANTA RESOURCES                           | Vedanta Resources Finance II PLC                                               | CUSIP: 000000000<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    390000 | PA      | $417792.34    | 0.14%             | 2029-09-17      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                       | Mineral Resources Ltd                                                          | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    250000 | PA      | $262602.33    | 0.09%             | 2028-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                     | American Axle & Manufacturing Inc                                              | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |     65000 | PA      | $66867.28     | 0.02%             | 2033-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BVKJ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    660766 | PA      | $46088.74     | 0.02%             | 2054-09-25      | Floating      | 3.40%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HHEW7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4755849 | PA      | $182902.36    | 0.06%             | 2054-11-25      | Floating      | 1.65%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINES OPCO                     | Columbia Pipelines Operating Co LLC                                            | CUSIP: 19828TAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1040000 | PA      | $1029632.86   | 0.34%             | 2055-02-15      | Fixed         | 5.96%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust               | Citigroup Mortgage Loan Trust 2025-4                                           | CUSIP: 17332NAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    383505 | PA      | $385887.09    | 0.13%             | 2055-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2024-R02                                   | CUSIP: 20754GAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    220000 | PA      | $225275.40    | 0.08%             | 2044-02-25      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382MV97<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1140211 | PA      | $197832.16    | 0.07%             | 2051-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TIDEWATER INC                               | Tidewater Inc                                                                  | CUSIP: 88642RAE9<br>LEI: 2549000JA5GRUPLMUH98 | Long             | DBT              | CORP              | US        |    125000 | PA      | $135210.13    | 0.05%             | 2030-07-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| DIAMOND FRGN/DIAMOND FIN                    | Diamond Foreign Asset Co / Diamond Finance LLC                                 | CUSIP: 25260WAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    200000 | PA      | $212666.00    | 0.07%             | 2030-10-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                     | Global Partners LP / GLP Finance Corp                                          | CUSIP: 37954FAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $151901.25    | 0.05%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                  | CUSIP: 893647BW6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101889.30    | 0.03%             | 2033-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                       | Mineral Resources Ltd                                                          | CUSIP: 603051AD5<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    350000 | PA      | $362822.87    | 0.12%             | 2030-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac Stacr Remic Trust 2025-Hqa1                                        | CUSIP: 35564NHA4<br>LEI: 529900MBUPRSJMB6GN48 | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1002185.90   | 0.33%             | 2045-02-25      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                    | Rogers Communications Inc                                                      | CUSIP: 775109DG3<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    145000 | PA      | $150404.44    | 0.05%             | 2055-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| STENA INTERNATIONAL SA                      | Stena International SA                                                         | CUSIP: 85858EAE3<br>LEI: 213800A4LTGG4W55QP46 | Long             | DBT              | CORP              | LU        |    750000 | PA      | $776186.25    | 0.26%             | 2031-02-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                     | Jane Street Group / JSG Finance Inc                                            | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $62408.32     | 0.02%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38380REA4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1466419 | PA      | $104226.19    | 0.03%             | 2062-12-16      | Variable      | 0.97%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418E5P1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    465941 | PA      | $472748.65    | 0.16%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                    | Hilcorp Energy I LP / Hilcorp Finance Co                                       | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $289719.30    | 0.10%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEOGEN FOOD SAFE CORP                       | Neogen Food Safety Corp                                                        | CUSIP: 365417AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $79954.72     | 0.03%             | 2030-07-20      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| AAR ESCROW ISSUER LLC                       | AAR Escrow Issuer LLC                                                          | CUSIP: 00253PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $144898.83    | 0.05%             | 2029-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                         | Buckeye Partners LP                                                            | CUSIP: 118230AV3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    250000 | PA      | $259908.50    | 0.09%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BHVP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2459794 | PA      | $59449.54     | 0.02%             | 2042-11-25      | Floating      | 0.14%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 91282CPF2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9455000 | PA      | $9308004.25   | 3.11%             | 2032-10-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ROCC Trust                                  | ROCK Trust 2024-CNTR                                                           | CUSIP: 74970WAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    650000 | PA      | $691002.39    | 0.23%             | 2041-11-13      | Fixed         | 8.82%                 | No            |                  2 | On Loan: No      |
| VALLOUREC SACA                              | Vallourec SACA                                                                 | CUSIP: 92023RAA8<br>LEI: 969500P2Q1B47H4MCJ34 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $212547.00    | 0.07%             | 2032-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust 2024-INV1                                             | CUSIP: 46658PAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    406878 | PA      | $413340.25    | 0.14%             | 2055-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer              | WaMu Mortgage Pass-Through Certificates Series 2004-AR13 Trust                 | CUSIP: 92922FB80<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     34007 | PA      | $33167.23     | 0.01%             | 2034-11-25      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FXFB9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    452974 | PA      | $70969.61     | 0.02%             | 2050-10-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                  | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    300000 | PA      | $305403.60    | 0.10%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                         | Buckeye Partners LP                                                            | CUSIP: 118230AW1<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     45000 | PA      | $47149.56     | 0.02%             | 2030-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HarborView Mortgage Loan Trust              | HarborView Mortgage Loan Trust 2005-2                                          | CUSIP: 41161PLR2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     54127 | PA      | $52634.65     | 0.02%             | 2035-05-19      | Floating      | 4.23%                 | No            |                  2 | On Loan: No      |
| EVERGY KANSAS CENTRAL                       | Evergy Kansas Central Inc                                                      | CUSIP: 30036FAD3<br>LEI: J75GNWGEO73W89ZV3S44 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1273559.78   | 0.43%             | 2035-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MERLIN ENTERTAINMENTS GR                    | Merlin Entertainments Group US Holdings Inc                                    | CUSIP: 59010UAA5<br>LEI: 549300HBQPPKS1187K54 | Long             | DBT              | CORP              | US        |    105000 | PA      | $88905.04     | 0.03%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383P8S3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1089066 | PA      | $20142.61     | 0.01%             | 2052-04-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR                      | Blackstone Mortgage Trust Inc                                                  | CUSIP: 09257WAF7<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |     65000 | PA      | $69674.80     | 0.02%             | 2029-12-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                       | Directv Financing LLC / Directv Financing Co-Obligor Inc                       | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     82000 | PA      | $82399.42     | 0.03%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                          | Subway Funding LLC                                                             | CUSIP: 864300AJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400950 | PA      | $398951.87    | 0.13%             | 2054-07-30      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                            | Lamar Media Corp                                                               | CUSIP: 513075BW0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $300030.00    | 0.10%             | 2029-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HKSD7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1849293 | PA      | $115768.35    | 0.04%             | 2055-04-25      | Floating      | 2.20%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust                  | GLS Auto Receivables Issuer Trust 2024-3                                       | CUSIP: 37989AAL8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    660000 | PA      | $669648.08    | 0.22%             | 2031-02-18      | Fixed         | 5.53%                 | 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        |     55000 | PA      | $58325.80     | 0.02%             | 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        |    200000 | PA      | $202121.14    | 0.07%             | 2044-03-25      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                    | Mill City Mortgage Loan Trust 2018-3                                           | CUSIP: 59980XAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1092671 | PA      | $845148.35    | 0.28%             | 2058-08-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                        | Matador Resources Co                                                           | CUSIP: 576485AF3<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153262.80    | 0.05%             | 2028-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2022-DNA3                                        | CUSIP: 35564KVE6<br>LEI: 5493000IS4M3TZMRB410 | Long             | ABS-MBS          | CORP              | US        |    565000 | PA      | $587455.42    | 0.20%             | 2042-04-25      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                         | Global Payments Inc                                                            | CUSIP: 37940XAW2<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    535000 | PA      | $534876.55    | 0.18%             | 2030-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| STUDIO CITY FINANCE LTD                     | Studio City Finance Ltd                                                        | CUSIP: 86389QAG7<br>LEI: 254900D6R731QAUIG324 | Long             | DBT              | CORP              | VG        |    490000 | PA      | $474697.44    | 0.16%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VAREX IMAGING CORPORATIO                    | Varex Imaging Corp                                                             | CUSIP: 92214XAC0<br>LEI: 549300CWYWPVCT8E9W67 | Long             | DBT              | CORP              | US        |    350000 | PA      | $356130.95    | 0.12%             | 2027-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| PAPA JOHN'S INTERNATIONA                    | Papa John's International Inc                                                  | CUSIP: 698813AA0<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95485.26     | 0.03%             | 2029-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TALOS PRODUCTION INC                        | Talos Production Inc                                                           | CUSIP: 87485LAD6<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    140000 | PA      | $145873.00    | 0.05%             | 2029-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                     | KeyCorp                                                                        | CUSIP: 49326EEP4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    240000 | PA      | $260045.39    | 0.09%             | 2035-03-06      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                 | Extended Stay America Trust 2026-ESH2                                          | CUSIP: 30227WAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    580000 | PA      | $583987.50    | 0.19%             | 2043-02-15      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HB5E0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    269250 | PA      | $231091.57    | 0.08%             | 2053-12-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES                    | Delta Air Lines Inc / SkyMiles IP Ltd                                          | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    967083 | PA      | $974395.48    | 0.33%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                         | Sirius XM Radio LLC                                                            | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    400000 | PA      | $399304.72    | 0.13%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                     | Nissan Motor Acceptance Co LLC                                                 | CUSIP: 65480CAC9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1126077.33   | 0.38%             | 2026-09-16      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| DOW CHEMICAL CO/THE                         | Dow Chemical Co/The                                                            | CUSIP: 260543DP5<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |    550000 | PA      | $549553.48    | 0.18%             | 2036-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: —       |
| BLACKROCK TREASURY TRUST                    | BLACKROCK TREASURY TRUST                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   4081480 | NS      | $4081479.75   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Great Outdoors Group LLC                    | GREAT OUTDOORS G 01/16/32                                                      | CUSIP: 07014QAP6<br>LEI: 549300IYLDI2E8I2AU46 | Long             | LON              | CORP              | US        |    495000 | PA      | $495000.00    | 0.17%             | 2032-01-23      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                    | Mill City Mortgage Loan Trust 2018-3                                           | CUSIP: 59980XAK3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    406134 | PA      | $343883.72    | 0.11%             | 2058-08-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| COMPASS GROUP DIVERSIFIE                    | Compass Group Diversified Holdings LLC                                         | CUSIP: 20451RAB8<br>LEI: 549300I6PTUQPX21TE93 | Long             | DBT              | CORP              | US        |    133818 | PA      | $124750.45    | 0.04%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383XXB5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    570255 | PA      | $628106.85    | 0.21%             | 2051-09-20      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| TENNECO INC                                 | Tenneco Inc                                                                    | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251487.75    | 0.08%             | 2028-11-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MFT Trust                                   | MFT Trust 2020-ABC                                                             | CUSIP: 55317BAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    380000 | PA      | $304119.05    | 0.10%             | 2042-02-10      | Variable      | 3.48%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                      | Clearway Energy Operating LLC                                                  | CUSIP: 18539UAC9<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    425000 | PA      | $424700.42    | 0.14%             | 2028-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                       | Quikrete Holdings Inc                                                          | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |     85000 | PA      | $88303.78     | 0.03%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CFCRE Commercial Mortgage Trus              | CFCRE Commercial Mortgage Trust 2016-C3                                        | CUSIP: 12531WAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    540000 | PA      | $523800.00    | 0.17%             | 2048-01-10      | Variable      | 3.05%                 | No            |                  2 | On Loan: No      |
| UNITED NATURAL FOODS INC                    | United Natural Foods Inc                                                       | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |    155000 | PA      | $155273.11    | 0.05%             | 2028-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LUNA 1.5 SARL                               | Luna 1.5 Sarl                                                                  | CUSIP: 550356AA7<br>LEI: 64884UZ60Y77J5XK5C41 | Long             | DBT              | CORP              | LU        |     55000 | PA      | $58041.64     | 0.02%             | 2032-07-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                     | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                   | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $599792.82    | 0.20%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                  | Progress Residential 2025-SFR3 Trust                                           | CUSIP: 74334BAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    540000 | PA      | $497414.30    | 0.17%             | 2042-07-17      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                             | Yum! Brands Inc                                                                | CUSIP: 988498AR2<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101284.10    | 0.03%             | 2032-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2019-B9 Mortgage Trust                                               | CUSIP: 08160JAK3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $921842.99    | 0.31%             | 2052-03-15      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| IAMGOLD CORP                                | IAMGOLD Corp                                                                   | CUSIP: 450913AF5<br>LEI: 254900E7II30XAB9LA72 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $251010.00    | 0.08%             | 2028-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                  | CUSIP: 172967NE7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    560000 | PA      | $501444.17    | 0.17%             | 2032-11-03      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                            | CSC Holdings LLC                                                               | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $78610.85     | 0.03%             | 2030-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384A3B7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    728442 | PA      | $109506.75    | 0.04%             | 2050-09-20      | Floating      | 2.95%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                       | Venture Global Plaquemines LNG LLC                                             | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     85000 | PA      | $88212.86     | 0.03%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ALPHA STAR HO IX LTD                        | Alpha Star Holding IX Ltd                                                      | CUSIP: 000000000<br>LEI: 254900IL2SBV9ANGBE89 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $204719.63    | 0.07%             | 2028-08-26      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                       | Quikrete Holdings Inc                                                          | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    315000 | PA      | $326683.86    | 0.11%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                    | Antero Midstream Partners LP / Antero Midstream Finance Corp                   | CUSIP: 03690AAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $300119.10    | 0.10%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MAJORDRIVE HOLDINGS IV L                    | MajorDrive Holdings IV LLC                                                     | CUSIP: 56085RAA8<br>LEI: 25490044R1FR5N8FIT62 | Long             | DBT              | CORP              | US        |     85000 | PA      | $68380.35     | 0.02%             | 2029-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE / IRELAND DAC                     | Aircastle Ltd / Aircastle Ireland DAC                                          | CUSIP: 00929JAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    525000 | PA      | $531945.06    | 0.18%             | 2030-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMER AIRLINE 21-1B PTT                      | American Airlines 2021-1 Class B Pass Through Trust                            | CUSIP: 02376LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    202075 | PA      | $194200.28    | 0.06%             | 2030-07-11      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BOYNE USA INC                               | Boyne USA Inc                                                                  | CUSIP: 103557AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $246691.65    | 0.08%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BELLRING BRANDS INC                         | BellRing Brands Inc                                                            | CUSIP: 07831CAA1<br>LEI: 549300S3BOK5CMTS8054 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205509.73    | 0.07%             | 2030-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA PUBLIC SERVICE                      | Arizona Public Service Co                                                      | CUSIP: 040555DE1<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |    665000 | PA      | $724992.97    | 0.24%             | 2032-12-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DQXV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    272479 | PA      | $279687.92    | 0.09%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                           | Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp                   | CUSIP: 76884GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $116743.17    | 0.04%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CALDERYS FINANCING LLC                      | Calderys Financing LLC                                                         | CUSIP: 128786AA8<br>LEI: 254900ZIKDM74XNEFV84 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104191.10    | 0.03%             | 2028-06-01      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| ALBERTSONS COS INC                          | Albertsons Cos Inc                                                             | CUSIP: 01309QAE8<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49949.34     | 0.02%             | 2032-03-31      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R01                                   | CUSIP: 20754LAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    425000 | PA      | $441015.74    | 0.15%             | 2041-12-25      | Floating      | 9.70%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2019-BNK20                                                                | CUSIP: 06540AAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    130000 | PA      | $100552.78    | 0.03%             | 2062-09-15      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES DREDGE&DOCK                     | Great Lakes Dredge & Dock Corp                                                 | CUSIP: 390607AF6<br>LEI: 549300H65E3MZ1CX0P05 | Long             | DBT              | CORP              | US        |     85000 | PA      | $83606.72     | 0.03%             | 2029-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                     | Asbury Automotive Group Inc                                                    | CUSIP: 043436AV6<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    250000 | PA      | $246130.10    | 0.08%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| UBS GROUP AG                                | UBS Group AG                                                                   | CUSIP: 902613AD0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    560000 | PA      | $511452.26    | 0.17%             | N/A             | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                    | Hilton Domestic Operating Co Inc                                               | CUSIP: 432833AT8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35168.84     | 0.01%             | 2034-03-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EVA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    856891 | PA      | $881953.90    | 0.29%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WESTERN ALLIANCE BANK                       | Western Alliance Bank                                                          | CUSIP: 95758BCL1<br>LEI: SI7YQSVPFZBSQ878IC17 | Long             | DBT              | CORP              | US        |    425000 | PA      | $430374.13    | 0.14%             | 2035-11-15      | Fixed         | 6.54%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS PWR & LIGHT                    | Indianapolis Power & Light Co                                                  | CUSIP: 455434BX7<br>LEI: 2T85JNP2R2B2GTSFND21 | Long             | DBT              | CORP              | US        |    205000 | PA      | $205997.35    | 0.07%             | 2035-08-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| United Wholsale Mortgage LLC                | UWM Mortgage Trust 2021-INV5                                                   | CUSIP: 90355DAY9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    837965 | PA      | $727065.34    | 0.24%             | 2052-01-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2021-R03                                   | CUSIP: 20754AAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    485000 | PA      | $500950.10    | 0.17%             | 2041-12-25      | Floating      | 9.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FUQM9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    619107 | PA      | $495526.15    | 0.17%             | 2050-06-25      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-25

**Name of Applicant:** New York Life Investments Active ETF Trust

**Signature:** Adefolahan Oyefeso

**Name of Signer:** Adefolahan Oyefeso

**Title:** Director and Vice President, IndexIQ