# EDGAR Filing Document

**Accession Number:** 0000356476
**File Stem:** 0001145549-25-052222
**Filing Date:** 2025-8
**Character Count:** 134370
**Document Hash:** 56f597248f946cc4e484d03dcb05f0bf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-052222.hdr.sgml**: 20250821

**ACCESSION NUMBER**: 0001145549-25-052222

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250821

**DATE AS OF CHANGE**: 20250821

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EMPOWER FUNDS, INC.
- **CENTRAL INDEX KEY:** 0000356476

**ORGANIZATION NAME:**
- **EIN:** 840876044
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03364
- **FILM NUMBER:** 251239046

**BUSINESS ADDRESS:**
- **STREET 1:** 8515 E ORCHARD ROAD
- **CITY:** GREENWOOD VILLAGE
- **STATE:** CO
- **ZIP:** 80111
- **BUSINESS PHONE:** 303-737-3000

**MAIL ADDRESS:**
- **STREET 1:** 8515 E ORCHARD ROAD
- **CITY:** GREENWOOD VILLAGE
- **STATE:** CO
- **ZIP:** 80111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GREAT-WEST FUNDS INC
- **DATE OF NAME CHANGE:** 20121005

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MAXIM SERIES FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Empower Inflation-Protected Securities Fund (Series ID: S000059775)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000195600 | Institutional Class | MXIOX           |
| C000195601 | Investor Class      | MXIHX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** EMPOWER FUNDS, INC.

- **b. Investment Company Act file number:** 811-03364

- **c. CIK number of Registrant:** 0000356476

- **d. LEI of Registrant:** RUYOMHMDMSPQ01U66388

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

  - **Street Address 1:** 8515 E Orchard Road

  - **City:** Greenwood Village

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80111

  - **Telephone number:** 866-831-7129

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

- **a. Name of Series:** Empower Inflation-Protected Securities Fund

- **b. EDGAR series identifier (if any):** S000059775

- **c. LEI of Series:** 5493005A8YM8S6RG0K54

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $456799505.83

**Total Liabilities:** $20555330.66

**Net Assets:** $436244175.17

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 413.211377399236 | **1-Year:** 7676.648468087352 | **5-Year:** 18749.450153523689 | **10-Year:** 12280.839211022763 | **30-Year:** 82.982736840170

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

- **3-Month:** 6.660929974059 | **1-Year:** 127.194463871313 | **5-Year:** 446.073861366269 | **10-Year:** 40.274244448253 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000195600 | 0.33%                | -0.22%               | 0.88%                |
| Class ID C000195601 | 0.33%                | -0.32%               | 0.87%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-379805.66              | $-1009148.02                               |
| Month 2  | $-339811.27              | $-2088551.11                               |
| Month 3  | $-27776.36               | $2064031.18                                |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **Index Identifier:** 5493005A8YM8S6RG0K54

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Dreyfus Instl Resv                                                                   | Dreyfus Instl Resv PFD GOVT INSTL                   | CUSIP: 26200X100<br>LEI: 549300FG0OZ5YKPLK622 | Long             | STIV             | RF                | US        |    251950 | PA      | $251950.33    | 0.06%             | 2025-07-01      | Variable      | 4.24%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                               | US T-NOTE ULTRA 10Y                                 | CUSIP: 0002UXYU5<br>LEI: 549300EX04Q2QBFQTQ27 | Short            | DIR              | CORP              | US        |       -34 | NC      | $-78471.13    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                               | US T-BOND 30YR                                      | CUSIP: 00002USU5<br>LEI: 549300EX04Q2QBFQTQ27 | Short            | DIR              | CORP              | US        |       -36 | NC      | $-89377.22    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                               | US T-NOTE 10YR                                      | CUSIP: 00002TYU5<br>LEI: 549300EX04Q2QBFQTQ27 | Long             | DIR              | CORP              | US        |       313 | NC      | $578849.12    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                               | US T-BOND ULTRA                                     | CUSIP: 00002WNU5<br>LEI: 549300EX04Q2QBFQTQ27 | Short            | DIR              | CORP              | US        |      -114 | NC      | $-352433.96   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                               | US T-NOTE 5YR                                       | CUSIP: 00002FVU5<br>LEI: 549300EX04Q2QBFQTQ27 | Long             | DIR              | CORP              | US        |       690 | NC      | $834843.11    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                               | US T-NOTE 2YR                                       | CUSIP: 00002TUU5<br>LEI: 549300EX04Q2QBFQTQ27 | Long             | DIR              | CORP              | US        |       155 | NC      | $109536.59    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                               | US T-NOTE 2YR                                       | CUSIP: 00002TUU5<br>LEI: 549300EX04Q2QBFQTQ27 | Long             | DIR              | CORP              | US        |        75 | NC      | $43945.35     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                               | US T-NOTE 2YR                                       | CUSIP: 00002TUU5<br>LEI: 549300EX04Q2QBFQTQ27 | Long             | DIR              | CORP              | US        |        25 | NC      | $25648.60     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                               | US T-NOTE 2YR                                       | CUSIP: 00002TUU5<br>LEI: 549300EX04Q2QBFQTQ27 | Long             | DIR              | CORP              | US        |        63 | NC      | $1695.33      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIBANK N.A. NEW YORK                                                               | RCV 0.00 PAY 0.00 06/23/2026                        | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | DIR              |  | US        |         0 | OU      | $70432.89     | 0.02%             | 2026-06-23      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                       | RCV 0.00 PAY 0.00 11/28/2032                        | CUSIP: N/A<br>LEI: 9R7GPTSO7KV3UQJZQ078       | Long             | DIR              |  | US        |    181818 | OU      | $76626.98     | 0.02%             | 2032-11-28      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK                                                                | RCV SOFR  PAY 3.62 11/30/2029                       | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | Long             | DIR              |  | US        |      3778 | OU      | $-312901.20   | -0.07%            | 2029-11-30      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK                                                                        | RCV SOFR  PAY 4.21 05/21/2055                       | CUSIP: N/A<br>LEI: VYVVCKR63DVZZN70PB21       | Long             | DIR              |  | US        |     43883 | OU      | $-58808.72    | -0.01%            | 2055-05-21      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES INC                                                             | RCV 3.85 PAY SOFR  05/21/2032                       | CUSIP: N/A<br>LEI: VYVVCKR63DVZZN70PB21       | Long             | DIR              |  | US        |      9247 | OU      | $142951.65    | 0.03%             | 2032-05-21      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS                                                             | RCV SOFR  PAY 3.75 09/17/2032                       | CUSIP: N/A<br>LEI: 12UUJYTN7D3SW8KCSG25       | Long             | DIR              |  | US        |      2756 | OU      | $-47636.23    | -0.01%            | 2032-09-17      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES INC                                                             | RCV SOFR  PAY 3.60 06/23/2030                       | CUSIP: N/A<br>LEI: 9R7GPTSO7KV3UQJZQ078       | Long             | DIR              |  | US        |     19692 | OU      | $-75771.06    | -0.02%            | 2030-06-23      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES INC                                                             | RCV 4.10 PAY SOFR  06/24/2035                       | CUSIP: N/A<br>LEI: 9R7GPTSO7KV3UQJZQ078       | Long             | DIR              |  | US        |      2234 | OU      | $29637.87     | 0.01%             | 2035-06-24      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES INC                                                             | RCV 3.37 PAY SOFR  06/23/2028                       | CUSIP: N/A<br>LEI: 9R7GPTSO7KV3UQJZQ078       | Long             | DIR              |  | US        |      3820 | OU      | $46136.48     | 0.01%             | 2028-06-23      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES INC                                                             | RCV 3.75 PAY SOFR  09/17/2028                       | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | DIR              |  | US        |      7223 | OU      | $20236.48     | 0.00%             | 2028-09-17      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                       | RCV SOFR  PAY 3.60 11/30/2029                       | CUSIP: N/A<br>LEI: 9R7GPTSO7KV3UQJZQ078       | Long             | DIR              |  | US        |     31379 | OU      | $-263160.88   | -0.06%            | 2029-11-30      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                       | RCV 3.62 PAY SOFR  06/30/2027                       | CUSIP: N/A<br>LEI: 9R7GPTSO7KV3UQJZQ078       | Long             | DIR              |  | US        |         0 | OU      | $112877.66    | 0.03%             | 2027-06-30      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK INTL                                                                   | RCV 0.00 PAY 0.00 12/12/2029                        | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | DIR              |  | US        |    256112 | OU      | $164256.79    | 0.04%             | 2029-12-12      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE                                                                      | RCV 0.00 PAY 0.00 07/19/2028                        | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | DIR              |  | US        |    236861 | OU      | $996340.56    | 0.23%             | 2028-07-19      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust                            | AER 2.45 10/29/26                                   | CUSIP: 00774MAV7<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |   1175000 | NS      | $1144774.88   | 0.26%             | 2026-10-29      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| BANK 2025-BNK50                                                                      | BANK 2025-BNK50 A5                                  | CUSIP: 064908AH9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    650000 | NS      | $679296.94    | 0.16%             | 2068-05-17      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust                            | AER 3.3 01/30/32                                    | CUSIP: 00774MAX3<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |    250000 | NS      | $226497.45    | 0.05%             | 2032-01-30      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Air Lease Corporation                                                                | AL 2.875 01/15/26 MTN                               | CUSIP: 00914AAJ1<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    375000 | NS      | $371178.69    | 0.09%             | 2026-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corporation                                                   | American Honda Finance Corporation 0% CP 18/08/2025 | CUSIP: 02665JVJ6<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | STIV             | CORP              | US        |   1361000 | NS      | $1352145.63   | 0.31%             | 2025-08-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Apidos CLO XII Ltd.                                                                  | APID 2013-12A ARR                                   | CUSIP: 03764DAM3<br>LEI: 549300M5NMLBQJXUO195 | Long             | ABS-CBDO         | CORP              | KY        |   2843942 | NS      | $2845117.00   | 0.65%             | 2031-04-15      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| Apidos CLO XV                                                                        | APID 2013-15A A1RR                                  | CUSIP: 03764QBC5<br>LEI: 549300HXW2GBYSKFE344 | Long             | ABS-CBDO         | CORP              | KY        |    407713 | NS      | $407918.81    | 0.09%             | 2031-04-21      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                                                              | BPCEGP V1.652 10/06/26 144A                         | CUSIP: 05583JAH5<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    950000 | NS      | $942276.13    | 0.22%             | 2026-10-06      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2024-PAT                                                                    | BX 2024-PAT A                                       | CUSIP: 05612FAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    325000 | NS      | $325000.00    | 0.07%             | 2041-03-15      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| BX COML MTG TR 2024-VLT5                                                             | BX 2024-VLT5 A                                      | CUSIP: 05614JAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | NS      | $606475.06    | 0.14%             | 2046-11-16      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V5.202 04/25/29                                 | CUSIP: 06051GLG2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    804000 | NS      | $821657.44    | 0.19%             | 2029-04-25      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V5.511 01/24/36                                 | CUSIP: 06051GMM8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    900000 | NS      | $925393.06    | 0.21%             | 2036-01-24      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corp.                                                    | BK V4.596 07/26/30                                  | CUSIP: 06406RBK2<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     75000 | NS      | $75822.95     | 0.02%             | 2030-07-26      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR10                                                                     | BANK5 2024-5YR10 A3                                 | CUSIP: 06604AAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    800000 | NS      | $819764.06    | 0.19%             | 2057-10-17      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR11                                                                     | BANK5 2024-5YR11 A3                                 | CUSIP: 06644WBD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | NS      | $942832.44    | 0.22%             | 2057-11-19      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR11                                                                     | BANK5 2024-5YR11 AS                                 | CUSIP: 06644WBL1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425000 | NS      | $443734.94    | 0.10%             | 2057-11-19      | Variable      | 6.14%                 | No            |                  2 | On Loan: No      |
| Barclays Dryrock Issuance Trust                                                      | DROCK 2023-2 A                                      | CUSIP: 06742LBB8<br>LEI: 213800R4G3N2G68CHU37 | Long             | ABS-O            | CORP              | US        |   2600000 | NS      | $2604451.00   | 0.60%             | 2028-08-15      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Becton, Dickinson and Company                                                        | BDX 3.7 06/06/27                                    | CUSIP: 075887BW8<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    925000 | NS      | $913863.31    | 0.21%             | 2027-06-06      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                       | BNP V1.323 01/13/27 144A                            | CUSIP: 09659W2N3<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    625000 | NS      | $614124.19    | 0.14%             | 2027-01-13      | Fixed         | 1.32%                 | No            |                  2 | On Loan: No      |
| The Boeing Company                                                                   | BA 6.298 05/01/29                                   | CUSIP: 097023DQ5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    801000 | NS      | $846778.38    | 0.19%             | 2029-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Company                                                         | BMY 2.95 03/15/32                                   | CUSIP: 110122DU9<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    275000 | NS      | $249318.36    | 0.06%             | 2032-03-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 3.137 11/15/35 144A                            | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    688000 | NS      | $580286.19    | 0.13%             | 2035-11-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2025-TAIL                                                                   | BX 2025-TAIL A                                      | CUSIP: 123912AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1150000 | NS      | $1151793.25   | 0.26%             | 2030-06-17      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| CSL Finance PLC                                                                      | CSLAU 3.85 04/27/27 144A                            | CUSIP: 12661PAA7<br>LEI: 2549007CCNBNAF4HBC02 | Long             | DBT              | CORP              | GB        |    125000 | NS      | $124102.20    | 0.03%             | 2027-04-27      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                      | CVS 1.875 02/28/31                                  | CUSIP: 126650DQ0<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    225000 | NS      | $192596.73    | 0.04%             | 2031-02-28      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Cardinal Health, Inc.                                                                | CAH 5.125 02/15/29                                  | CUSIP: 14149YBN7<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |    327000 | NS      | $335323.84    | 0.08%             | 2029-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CARLYLE US CLO 2025-3 LTD                                                            | CGMS 2025-3A A                                      | CUSIP: 14320EAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2100000 | NS      | $2105775.00   | 0.48%             | 2038-07-26      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| CATHEDRAL LAKE LTD 2021-6                                                            | CATLK 2021-6A AN                                    | CUSIP: 14919LAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3400000 | NS      | $3401870.00   | 0.78%             | 2034-04-25      | Floating      | 5.81%                 | No            |                  2 | On Loan: No      |
| CHASE HOME LENDING MORTGAGE TRUST 2                                                  | CHASE 2024-3 A5                                     | CUSIP: 16159HAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    175000 | NS      | $176997.41    | 0.04%             | 2055-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| CHASE HOME LENDING MORTGAGE TRUST 2                                                  | CHASE 2024-3 A7                                     | CUSIP: 16159HAN7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | NS      | $101000.79    | 0.02%             | 2055-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST 2024-R01                                         | CAS 2024-R01 1M2                                    | CUSIP: 20753UAB6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    300000 | NS      | $303153.28    | 0.07%             | 2044-01-25      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST 2021-R03                                         | CAS 2021-R03 1M2                                    | CUSIP: 20754AAB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    206000 | NS      | $207223.64    | 0.05%             | 2041-12-26      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Constellation Brands, Inc.                                                           | STZ 3.7 12/06/26                                    | CUSIP: 21036PAQ1<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    925000 | NS      | $917404.44    | 0.21%             | 2026-12-06      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Constellation Software Inc.                                                          | CSUCN 5.158 02/16/29 144A                           | CUSIP: 21037XAC4<br>LEI: 549300B6PYHMCTDWQV29 | Long             | DBT              | CORP              | CA        |    296000 | NS      | $301093.66    | 0.07%             | 2029-02-16      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Crown Castle Inc.                                                                    | CCI 3.65 09/01/27                                   | CUSIP: 22822VAH4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    950000 | NS      | $933642.69    | 0.21%             | 2027-09-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Dell International L.L.C. and EMC Corporation                                        | DELL 6.02 06/15/26                                  | CUSIP: 24703TAD8<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    625000 | NS      | $630907.23    | 0.14%             | 2026-06-15      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| EXETER AUTOMOBILE RECEIVABLES TRUST 2025-1                                           | EART 2025-1A A2                                     | CUSIP: 30167MAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    542945 | NS      | $542962.81    | 0.12%             | 2027-09-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| EXETER AUTOMOBILE RECEIVABLES TRUST 2025-1                                           | EART 2025-1A A3                                     | CUSIP: 30167MAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | NS      | $300399.69    | 0.07%             | 2028-08-15      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| Expedia Group Inc                                                                    | EXPE 2.95 03/15/31                                  | CUSIP: 30212PBH7<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |     68000 | NS      | $61977.70     | 0.01%             | 2031-03-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                                                  | FITB V4.772 07/28/30                                | CUSIP: 316773DG2<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    411000 | NS      | $413550.03    | 0.09%             | 2030-07-28      | Fixed         | 4.77%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Stacr Remic Trust                                                        | STACR 2021-DNA5 M2                                  | CUSIP: 35564KHE2<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |     57291 | NS      | $57544.70     | 0.01%             | 2034-01-25      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| GE Healthcare Technologies Inc.                                                      | GEHC 5.857 03/15/30                                 | CUSIP: 36267VAH6<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    144000 | NS      | $152082.88    | 0.03%             | 2030-03-15      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                             | HCA 5.45 04/01/31                                   | CUSIP: 404119CT4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    475000 | NS      | $489790.72    | 0.11%             | 2031-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Halseypoint CLO 7 Ltd / LLC                                                          | HLSY 2023-7A A1R                                    | CUSIP: 40638LAL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | NS      | $1500000.00   | 0.34%             | 2038-07-20      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Hudson Yards 2025-Sprl Mortgage Trust                                                | HY 2025-SPRL A                                      | CUSIP: 44855PAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    855000 | NS      | $881378.04    | 0.20%             | 2040-01-13      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| Idex Corporation                                                                     | IEX 2.625 06/15/31                                  | CUSIP: 45167RAH7<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | DBT              | CORP              | US        |    335000 | NS      | $298269.78    | 0.07%             | 2031-06-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| ING Groep N.V.                                                                       | INTNED V4.017 03/28/28                              | CUSIP: 456837BB8<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    450000 | NS      | $447061.38    | 0.10%             | 2028-03-28      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| Jbs Usa Lux SA/Jbs Usa Food Company/Jbs Usa Finance Inc                              | JBSSBZ 3.75 12/01/31                                | CUSIP: 46590XAM8<br>LEI: RB8RC03FUD8DSX57C193 | Long             | DBT              | CORP              | LU        |    230000 | NS      | $214013.31    | 0.05%             | 2031-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| J.P.MORGAN MORTGAGE TRUST 2024-2                                                     | JPMMT 2024-2 A5A                                    | CUSIP: 46657TAH8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | NS      | $255150.23    | 0.06%             | 2054-08-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Johnson Controls International PLC / Tyco Fire & Security Finance S.C.A.             | JCI 4.9 12/01/32                                    | CUSIP: 47837RAE0<br>LEI: 549300XQ6S1GYKGBL205 | Long             | DBT              | CORP              | IE        |    150000 | NS      | $150776.88    | 0.03%             | 2032-12-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| LPL Holdings Inc.                                                                    | LPLA 4 03/15/29 144A                                | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    235000 | NS      | $228285.73    | 0.05%             | 2029-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 3.2 11/21/29                                   | CUSIP: 00287YBX6<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    166000 | NS      | $158779.41    | 0.04%             | 2029-11-21      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust                            | AER 3 10/29/28                                      | CUSIP: 00774MAW5<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |    235000 | NS      | $223878.61    | 0.05%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| B.A.T. Capital Corporation                                                           | BATSLN 6 02/20/34                                   | CUSIP: 05526DBZ7<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    655000 | NS      | $690447.13    | 0.16%             | 2034-02-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BBCMS Mortgage Trust 2020-C6                                                         | BBCMS 2018-TALL A                                   | CUSIP: 05548WAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1050000 | NS      | $992416.50    | 0.23%             | 2037-03-16      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| BBCMS MORTGAGE TRUST                                                                 | BBCMS 2019-C3 C                                     | CUSIP: 05550MAZ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    564000 | NS      | $497559.34    | 0.11%             | 2052-05-17      | Variable      | 4.18%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2025-ROIC                                                                   | BX 2025-ROIC A                                      | CUSIP: 05593VAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | NS      | $894375.00    | 0.21%             | 2042-02-18      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2024-BIO                                                                    | BX 2024-BIO A                                       | CUSIP: 05612AAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1400000 | NS      | $1399999.63   | 0.32%             | 2041-02-15      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR7                                                                      | BANK5 2024-5YR7 A3                                  | CUSIP: 06211UBL8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    825000 | NS      | $857425.06    | 0.20%             | 2057-06-15      | Variable      | 5.77%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corp.                                                    | BK V5.834 10/25/33 MTN                              | CUSIP: 06406RBM8<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    200000 | NS      | $212122.11    | 0.05%             | 2033-10-25      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| Barclays Dryrock Issuance Trust                                                      | DROCK 2023-1 A                                      | CUSIP: 06742LAX1<br>LEI: 213800R4G3N2G68CHU37 | Long             | ABS-O            | CORP              | US        |   1900000 | NS      | $1904717.50   | 0.44%             | 2029-02-15      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| BBCMS MORTGAGE TRUST 2024-C24                                                        | BBCMS 2024-C24 A5                                   | CUSIP: 07336VAU5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    550000 | NS      | $568142.94    | 0.13%             | 2057-02-16      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| BFLD COML MTG TR 2024-UNIV                                                           | BFLD 2024-UNIV A                                    | CUSIP: 08861RAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1200000 | NS      | $1201500.00   | 0.28%             | 2041-11-15      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| Blackstone Private Credit Fund                                                       | BCRED 1e-06 01/22/32                                | CUSIP: 09261HBX4<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    200000 | NS      | $201105.77    | 0.05%             | 2032-01-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| The Boeing Company                                                                   | BA 5.15 05/01/30                                    | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    240000 | NS      | $244343.88    | 0.06%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                      | CVS 3.25 08/15/29                                   | CUSIP: 126650DG2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    151000 | NS      | $143514.09    | 0.03%             | 2029-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Capital One Multi Asset Execution Trust                                              | COMET 2022-A3 A                                     | CUSIP: 14041NGB1<br>LEI: R42WS16M9R97TJJKGU15 | Long             | ABS-O            | CORP              | US        |   1000000 | NS      | $1001184.00   | 0.23%             | 2027-10-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners Lp                                                          | CQP 4.5 10/01/29                                    | CUSIP: 16411QAG6<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    220000 | NS      | $217645.11    | 0.05%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CIFC FUNDING 2018-I LTD                                                              | CIFC 2018-1A A1R                                    | CUSIP: 17181NAC8<br>LEI: 635400VBVF8AYJQBI411 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | NS      | $1002750.00   | 0.23%             | 2038-01-19      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST 2022-R05                                         | CAS 2022-R05 2M1                                    | CUSIP: 20754DAA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     56372 | NS      | $56593.09     | 0.01%             | 2042-04-25      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp                                                                 | LVS 5.625 06/15/28                                  | CUSIP: 517834AM9<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    490000 | NS      | $499817.28    | 0.11%             | 2028-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Lennar Corp.                                                                         | LEN 4.75 11/29/27                                   | CUSIP: 526057CD4<br>LEI: 529900G61XVRLX5TJX09 | Long             | DBT              | CORP              | US        |    310000 | NS      | $312114.88    | 0.07%             | 2027-11-29      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                                                                | LOW 1.7 09/15/28                                    | CUSIP: 548661ED5<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    425000 | NS      | $393107.16    | 0.09%             | 2028-09-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| WarnerMedia Holdings Inc.                                                            | WBD 4.054 03/15/29                                  | CUSIP: 55903VBB8<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    412000 | NS      | $329600.00    | 0.08%             | 2029-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| DC TRUST 2024-HLTN                                                                   | DC 2024-HLTN A                                      | CUSIP: 24022FAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | NS      | $505356.66    | 0.12%             | 2040-04-13      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| Dollar General Corporation                                                           | DG 3.875 04/15/27                                   | CUSIP: 256677AE5<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | DBT              | CORP              | US        |    432000 | NS      | $428074.38    | 0.10%             | 2027-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                   | ET 4.2 04/15/27                                     | CUSIP: 29273RBK4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1000000 | NS      | $995949.69    | 0.23%             | 2027-04-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                   | ET 5.5 06/01/27 *                                   | CUSIP: 29278NAN3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    325000 | NS      | $330808.56    | 0.08%             | 2027-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EXTER AUTOMOBILE RECEIVABLES TRUST 2025-3                                            | EART 2025-3A A3                                     | CUSIP: 30166XAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | NS      | $904395.63    | 0.21%             | 2029-07-16      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Expedia Group Inc                                                                    | EXPE 3.25 02/15/30                                  | CUSIP: 30212PAR6<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |    217000 | NS      | $204703.31    | 0.05%             | 2030-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FactSet Research Systems Inc.                                                        | FDS 2.9 03/01/27                                    | CUSIP: 303075AA3<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | DBT              | CORP              | US        |    425000 | NS      | $414127.19    | 0.09%             | 2027-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| FORD CR AUTO OWN TR 2024-REV1                                                        | FORDR 2024-1 A                                      | CUSIP: 34533BAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1075000 | NS      | $1095568.75   | 0.25%             | 2036-08-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| Haleon US Capital LLC.                                                               | HLNLN 3.375 03/24/27                                | CUSIP: 36264FAK7<br>LEI: 549300N8C3A3L0UVQB07 | Long             | DBT              | CORP              | US        |    950000 | NS      | $936112.44    | 0.21%             | 2027-03-24      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Galaxy XXI CLO Ltd                                                                   | GALXY 2015-21A AR                                   | CUSIP: 36320WAL0<br>LEI: 549300BW4412X0TZDD77 | Long             | ABS-CBDO         | CORP              | KY        |    643088 | NS      | $643067.69    | 0.15%             | 2031-04-21      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| MORGAN STNLY RES MTG 2025-NQM2                                                       | MSRM 2025-NQM2 A1                                   | CUSIP: 617941AA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    864827 | NS      | $869327.06    | 0.20%             | 2070-01-25      | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| NXP B V / NXP Funding LLC & NXP USA Inc                                              | NXPI 5 01/15/33                                     | CUSIP: 62954HBB3<br>LEI: 724500RKKW4NOJ9YQF60 | Long             | DBT              | CORP              | NL        |    105000 | NS      | $104704.63    | 0.02%             | 2033-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HONDA AUTO RECEIVABLES 2023-4 OWNE                                                   | HAROT 2023-4 A3                                     | CUSIP: 438123AC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1800000 | NS      | $1819197.00   | 0.42%             | 2028-06-21      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| Host Hotels & Resorts, L.P.                                                          | HST 2.9 12/15/31 J                                  | CUSIP: 44107TBA3<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              | CORP              | US        |    224000 | NS      | $196280.77    | 0.04%             | 2031-12-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Hudson Yards 2025-Sprl Mortgage Trust                                                | HY 2025-SPRL D                                      | CUSIP: 44855PAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    525000 | NS      | $543542.13    | 0.12%             | 2040-01-13      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| Hyatt Hotels Corporation                                                             | H 5.5 06/30/34                                      | CUSIP: 448579AS1<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    290000 | NS      | $289821.21    | 0.07%             | 2034-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Nature Conservancy                                                                   | NACONV 1.304 07/01/28 A                             | CUSIP: 63902HAL3<br>LEI: 549300GJ1IZME7V1JJ28 | Long             | DBT              | CORP              | US        |     25000 | NS      | $22644.72     | 0.01%             | 2028-07-01      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| Ocp Clo 2016-11 Ltd                                                                  | OCP 2016-11A A1R2                                   | CUSIP: 67110DBA4<br>LEI: 254900QIJ8IQOK988683 | Long             | ABS-CBDO         | CORP              | KY        |   1525000 | NS      | $1525000.00   | 0.35%             | 2036-04-28      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Ocp Clo 2016-11 Ltd                                                                  | OCP 2016-11A AR3                                    | CUSIP: 67110DBQ9<br>LEI: 254900QIJ8IQOK988683 | Long             | ABS-CBDO         | CORP              | KY        |   1525000 | NS      | $1525000.00   | 0.35%             | 2038-07-26      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| 1988 CLO 5 LTD                                                                       | MUZ88 2024-5A A1                                    | CUSIP: 68252PAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1325000 | NS      | $1328829.25   | 0.30%             | 2037-07-15      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| Intel Corporation                                                                    | INTC 5.15 02/21/34                                  | CUSIP: 458140CL2<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    210000 | NS      | $209570.30    | 0.05%             | 2034-02-21      | Fixed         | 5.15%                 | No            |                  2 | On Loan: —       |
| J.P.MORGAN MORTGAGE TRUST 2024-1                                                     | JPMMT 2024-1 A4                                     | CUSIP: 46657PAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    572360 | NS      | $577349.75    | 0.13%             | 2054-06-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Mars Inc.                                                                            | MARS 5 03/01/32 144A                                | CUSIP: 571676AZ8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   1050000 | NS      | $1063958.88   | 0.24%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                                                         | MAR 5 10/15/27                                      | CUSIP: 571903BJ1<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    500000 | NS      | $508200.34    | 0.12%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                                                         | MAR 4.875 05/15/29                                  | CUSIP: 571903BP7<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    292000 | NS      | $296101.06    | 0.07%             | 2029-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                     | NRG 5.25 06/15/29 144A                              | CUSIP: 629377CH3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    220000 | NS      | $218795.80    | 0.05%             | 2029-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                                        | NFLX 5.875 11/15/28                                 | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    670000 | NS      | $706267.81    | 0.16%             | 2028-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NiSource Inc.                                                                        | NI 5.25 03/30/28                                    | CUSIP: 65473PAN5<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    475000 | NS      | $486270.38    | 0.11%             | 2028-03-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| 1988 CLO 5 LTD                                                                       | MUZ88 2024-5A D1                                    | CUSIP: 68252PAN6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | NS      | $1100605.00   | 0.25%             | 2037-07-15      | Floating      | 7.60%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 2.95 04/01/30                                  | CUSIP: 68389XBV6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    104000 | NS      | $97120.12     | 0.02%             | 2030-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| OBX 2024-NQM2 TRUST                                                                  | OBX 2024-NQM2 A1                                    | CUSIP: 67118HAA8<br>LEI: 254900OHTVKDKZL33I54 | Long             | ABS-O            | CORP              | US        |    860026 | NS      | $863931.44    | 0.20%             | 2063-12-25      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| Oaktree CLO 2019-4 Ltd.                                                              | OAKCL 2019-4A ARR                                   | CUSIP: 67402CBE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | NS      | $1102704.88   | 0.25%             | 2037-07-20      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| PETRONAS Capital Ltd.                                                                | PETMK 4.95 01/03/31 144A                            | CUSIP: 716743AV1<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |    510000 | NS      | $520137.94    | 0.12%             | 2031-01-03      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Reliance Industries Ltd.                                                             | RILIN 2.875 01/12/32 144A                           | CUSIP: 759470BB2<br>LEI: 5493003UOETFYRONLG31 | Long             | DBT              | CORP              | IN        |    930000 | NS      | $825696.25    | 0.19%             | 2032-01-12      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Rush University System for Health                                                    | RUSHOB 3.922 11/15/29 2020                          | CUSIP: 78200JAA0<br>LEI: ZF7C375GL43TFX8CCS02 | Long             | DBT              | CORP              | US        |    255000 | NS      | $250082.84    | 0.06%             | 2029-11-15      | Fixed         | 3.92%                 | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Company                                                            | ARAMCO 5.25 07/17/34 144A                           | CUSIP: 80414L2N4<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    710000 | NS      | $717380.44    | 0.16%             | 2034-07-17      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Solventum Corp.                                                                      | SOLV 5.4 03/01/29                                   | CUSIP: 83444MAP6<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    920000 | NS      | $947384.38    | 0.22%             | 2029-03-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO XI Ltd                                                               | SNDPT 2013-3RA D                                    | CUSIP: 83609YAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | NS      | $245405.00    | 0.06%             | 2031-04-18      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| Texas Commercial Mortgage Trust 2025-Twr                                             | TEXAS 2025-TWR C                                    | CUSIP: 88231WAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | NS      | $349999.91    | 0.08%             | 2042-04-15      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | TII 1.875 07/15/34                                  | CUSIP: 91282CLE9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  54760000 | NS      | $56026809.00  | 12.84%            | 2034-07-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 4.5 05/06/28                                   | CUSIP: 68389XCM5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    475000 | NS      | $477894.75    | 0.11%             | 2028-05-06      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 5.25 02/03/32                                  | CUSIP: 68389XCZ6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    700000 | NS      | $718050.13    | 0.16%             | 2032-02-03      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | TII 1.625 04/15/30                                  | CUSIP: 91282CNB3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  41200000 | NS      | $41817592.00  | 9.59%             | 2030-04-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UNH 4.2 05/15/32                                    | CUSIP: 91324PEJ7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    100000 | NS      | $96801.76     | 0.02%             | 2032-05-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST 2022-1                                                    | VERUS 2022-1 A3                                     | CUSIP: 92538WAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    652971 | NS      | $594974.31    | 0.14%             | 2067-01-25      | Variable      | 3.29%                 | No            |                  2 | On Loan: No      |
| Vibrant Clo Viii Ltd                                                                 | VIBR 2018-8A A1A                                    | CUSIP: 92558FAA7<br>LEI: 5493007UH0SOAZ6NCZ28 | Long             | ABS-CBDO         | CORP              | KY        |    682322 | NS      | $682623.31    | 0.16%             | 2031-01-21      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Voya CLO 2016-1 Limited                                                              | VOYA 2016-1A A1R                                    | CUSIP: 92915CAQ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1797435 | NS      | $1800088.38   | 0.41%             | 2031-01-21      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Park Blue CLO 2022-I Ltd.                                                            | PKBLU 2022-1A A1R                                   | CUSIP: 70016WAQ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    800000 | NS      | $801660.00    | 0.18%             | 2037-10-20      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co LP / PTL Finance Corp.                                       | PENSKE 5.25 07/01/29 144A                           | CUSIP: 709599CA0<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | DBT              | CORP              | US        |    367000 | NS      | $375742.38    | 0.09%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pilgrims Pride Corporation                                                           | PPC 4.25 04/15/31                                   | CUSIP: 72147KAJ7<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    225000 | NS      | $216927.80    | 0.05%             | 2031-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| POLUS US CLO II LTD                                                                  | POLUS 2025-2A A1                                    | CUSIP: 73163VAC5<br>LEI: 254900NPT7G7FAJXZS09 | Long             | ABS-CBDO         | CORP              | KY        |   1150000 | NS      | $1154045.75   | 0.26%             | 2038-07-20      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| ROCK TRUST 2024-CNTR                                                                 | ROCC 2024-CNTR A                                    | CUSIP: 74970WAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | NS      | $920686.69    | 0.21%             | 2041-11-15      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| RR 29 LTD                                                                            | RRAM 2024-29RA A2R                                  | CUSIP: 74989VAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    800000 | NS      | $802492.81    | 0.18%             | 2039-07-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Republic Services, Inc.                                                              | RSG 4.875 04/01/29                                  | CUSIP: 760759BB5<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    275000 | NS      | $280851.03    | 0.06%             | 2029-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Rogers Communications Inc.                                                           | RCICN 3.2 03/15/27                                  | CUSIP: 775109CG4<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   1610000 | NS      | $1578537.13   | 0.36%             | 2027-03-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Smbc Aviation Capital Finance                                                        | SMBCAC 5.7 07/25/33 144A                            | CUSIP: 78448TAK8<br>LEI: 549300OD7VKRVNWB2J98 | Long             | DBT              | CORP              | IE        |    661000 | NS      | $677288.38    | 0.16%             | 2033-07-25      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Solventum Corp.                                                                      | SOLV 5.6 03/23/34                                   | CUSIP: 83444MAR2<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    460000 | NS      | $473407.06    | 0.11%             | 2034-03-23      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Steris Irish Finco Unlimited Company                                                 | STE 2.7 03/15/31                                    | CUSIP: 85917PAA5<br>LEI: 549300BRDKZ1HFI2J358 | Long             | DBT              | CORP              | IE        |    218000 | NS      | $195790.28    | 0.04%             | 2031-03-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Sutter Health                                                                        | SUTHEA 2.294 08/15/30 20A                           | CUSIP: 86944BAG8<br>LEI: 549300MJCC12LU768G81 | Long             | DBT              | CORP              | US        |    130000 | NS      | $117406.95    | 0.03%             | 2030-08-15      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| Synopsys Inc                                                                         | SNPS 5 04/01/32                                     | CUSIP: 871607AD9<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    437000 | NS      | $442652.16    | 0.10%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Synopsys Inc                                                                         | SNPS 5.15 04/01/35                                  | CUSIP: 871607AE7<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    314000 | NS      | $316492.87    | 0.07%             | 2035-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 3.75 04/15/27                                  | CUSIP: 87264ABD6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1190000 | NS      | $1177573.75   | 0.27%             | 2027-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 3.875 04/15/30                                 | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    440000 | NS      | $427335.84    | 0.10%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TPG TR 2024-WLSC                                                                     | TPG 2024-WLSC A                                     | CUSIP: 872973AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1350000 | NS      | $1351651.44   | 0.31%             | 2041-11-15      | Floating      | 6.26%                 | No            |                  2 | On Loan: No      |
| TOYOTA AUTO LOAN EXTENDED NOTE TRUST 2025-1                                          | TALNT 2025-1A A                                     | CUSIP: 891950AA5<br>LEI: 254900QVX5SBHB37FT67 | Long             | ABS-O            | CORP              | US        |   1450000 | NS      | $1464587.25   | 0.34%             | 2038-05-25      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | TII 2.125 04/15/29                                  | CUSIP: 91282CKL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  57590000 | NS      | $61334456.00  | 14.06%            | 2029-04-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | TII 2.125 01/15/35                                  | CUSIP: 91282CML2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11790000 | NS      | $12180051.63  | 2.79%             | 2035-01-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| WF Card Issuance Trust                                                               | WFCIT 2025-A1 A                                     | CUSIP: 92970QAJ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1375000 | NS      | $1385243.63   | 0.32%             | 2030-05-15      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| Waste Management, Inc.                                                               | WM 4.95 07/03/31                                    | CUSIP: 94106LBY4<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    456000 | NS      | $468086.94    | 0.11%             | 2031-07-03      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                    | WFC 4.1 06/03/26 MTN                                | CUSIP: 94974BFY1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1875000 | NS      | $1867507.63   | 0.43%             | 2026-06-03      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRU                                                  | WFCM 2024-C63 A5                                    | CUSIP: 94990FAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1260000 | NS      | $1286602.00   | 0.29%             | 2057-08-17      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST                                                | WFCM 2021-C59 A5                                    | CUSIP: 95003CAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    925000 | NS      | $820588.44    | 0.19%             | 2054-04-17      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Mexico City Airport Trust                                                            | MEXCAT 3.875 04/30/28 REGS                          | CUSIP: P6629MAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |   1190000 | NS      | $1150135.00   | 0.26%             | 2028-04-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AECOM                                                                                | ACM 5.125 03/15/27                                  | CUSIP: 00774CAB3<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    215000 | NS      | $215651.23    | 0.05%             | 2027-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Adventist Health Systems (West)                                                      | ADVENT 2.952 03/01/29                               | CUSIP: 007944AF8<br>LEI: 5493008YM33UCY5QPW83 | Long             | DBT              | CORP              | US        |    110000 | NS      | $102160.08    | 0.02%             | 2029-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Alcon Finance Corp                                                                   | ALCSW 3 09/23/29 144A                               | CUSIP: 01400EAB9<br>LEI: 549300CUZUI9VU7XNK42 | Long             | DBT              | CORP              | US        |    450000 | NS      | $423666.63    | 0.10%             | 2029-09-23      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| American Express Credit Account Master Trust                                         | AMXCA 2025-3 A                                      | CUSIP: 02582JKR0<br>LEI: 549300Y4SA5G3GIJTP18 | Long             | ABS-O            | CORP              | US        |   1375000 | NS      | $1394535.00   | 0.32%             | 2032-04-15      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| Atkore Inc                                                                           | ATKR 4.25 06/01/31 144A                             | CUSIP: 047649AA6<br>LEI: 52990002TI38AM4RPV48 | Long             | DBT              | CORP              | US        |    235000 | NS      | $217488.53    | 0.05%             | 2031-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Aviation Capital Group LLC                                                           | ACGCAP 1.95 01/30/26 144A                           | CUSIP: 05369AAK7<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    325000 | NS      | $319845.25    | 0.07%             | 2026-01-30      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                                         | AVOL 6.375 05/04/28 144A                            | CUSIP: 05401AAS0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    295000 | NS      | $307611.78    | 0.07%             | 2028-05-04      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BAIN CAPITAL CREDIT CLO 2020-1, LIMITED                                              | BCC 2020-1A A1R                                     | CUSIP: 05684DAN3<br>LEI: 2549007DKQFBF2N6NR86 | Long             | ABS-CBDO         | CORP              | KY        |   1800000 | NS      | $1804140.00   | 0.41%             | 2033-04-18      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| Banco Santander, S.A.                                                                | SANTAN 2.749 12/03/30                               | CUSIP: 05971KAG4<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | NS      | $178102.58    | 0.04%             | 2030-12-03      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA AUTO TRUST 2023-2                                                    | BAAT 2023-2A A2                                     | CUSIP: 06054YAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3906 | NS      | $3908.66      | 0.00%             | 2026-08-17      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| BANK 2024-BNK48                                                                      | BANK 2024-BNK48 A5                                  | CUSIP: 06541GAH0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1125000 | NS      | $1130465.13   | 0.26%             | 2057-10-17      | Variable      | 5.05%                 | No            |                  2 | On Loan: No      |
| BANK5 2025-5YR15                                                                     | BANK5 2025-5YR15 A3                                 | CUSIP: 065924AG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    800000 | NS      | $824000.00    | 0.19%             | 2058-07-17      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR10                                                                     | BANK5 2024-5YR10 AS                                 | CUSIP: 06604AAM6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | NS      | $307284.75    | 0.07%             | 2057-10-17      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| BANK5 2025-5YR13                                                                     | BANK5 2025-5YR13 AS                                 | CUSIP: 06650CAP8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    675000 | NS      | $704790.88    | 0.16%             | 2058-01-17      | Variable      | 6.10%                 | No            |                  2 | On Loan: No      |
| Banner Health                                                                        | BANNER 2.338 01/01/30                               | CUSIP: 06654DAB3<br>LEI: PLD0E0WJKFN8IZJ2WD85 | Long             | DBT              | CORP              | US        |    675000 | NS      | $620126.11    | 0.14%             | 2030-01-01      | Fixed         | 2.34%                 | No            |                  2 | On Loan: —       |
| BARINGS CLO LTD 2024-IV/LLC                                                          | BABSN 2024-4A B                                     | CUSIP: 06763DAC9<br>LEI: 25490018GYL1YL6YBG43 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | NS      | $500873.50    | 0.11%             | 2037-10-20      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| Blackstone Secured Lending Fund                                                      | BXSL 5.875 11/15/27                                 | CUSIP: 09261XAH5<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    350000 | NS      | $357253.44    | 0.08%             | 2027-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BMW VEHICLE LEASE TRUST 2025-1                                                       | BMWLT 2025-1 A3                                     | CUSIP: 096912AD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1050000 | NS      | $1056009.00   | 0.24%             | 2028-06-26      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| The Boeing Company                                                                   | BA 8.75 09/15/31                                    | CUSIP: 097023AE5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    459000 | NS      | $541142.00    | 0.12%             | 2031-09-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| The Boeing Company                                                                   | BA 6.528 05/01/34                                   | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    445000 | NS      | $483505.16    | 0.11%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 3.469 04/15/34 144A                            | CUSIP: 11135FBL4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    250000 | NS      | $223323.31    | 0.05%             | 2034-04-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 4.15 04/15/32 144A                             | CUSIP: 11135FBT7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    340000 | NS      | $327536.34    | 0.08%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| CIM TRUST 2025-I1                                                                    | CIM 2025-I1 A2                                      | CUSIP: 12571DAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    736259 | NS      | $742716.81    | 0.17%             | 2069-10-25      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| CHASE HOME LENDING MORTGAGE TRUST 2                                                  | CHASE 2024-3 A5A                                    | CUSIP: 16159HAH0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | NS      | $295370.19    | 0.07%             | 2055-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Chubb INA Holdings Inc                                                               | CB 6.8 11/15/31                                     | CUSIP: 171232AE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    464000 | NS      | $517389.97    | 0.12%             | 2031-11-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust 2024-R04                                         | CAS 2024-R04 1M2                                    | CUSIP: 20753GAC5<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |    300000 | NS      | $301505.75    | 0.07%             | 2044-05-25      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST 2024-R01                                         | CAS 2024-R01 1B1                                    | CUSIP: 20753UAF7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    450000 | NS      | $460805.66    | 0.11%             | 2044-01-25      | Floating      | 7.02%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST 2024-R03                                         | CAS 2024-R03 2B1                                    | CUSIP: 207941AF2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    275000 | NS      | $282291.63    | 0.06%             | 2044-03-25      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| Constellation Brands, Inc.                                                           | STZ 4.75 05/09/32                                   | CUSIP: 21036PBL1<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |     64000 | NS      | $63554.65     | 0.01%             | 2032-05-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Dell International L.L.C. and EMC Corporation                                        | DELL 5.3 10/01/29                                   | CUSIP: 24703TAG1<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    150000 | NS      | $154373.70    | 0.04%             | 2029-10-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG New York Branch                                                     | DB V2.129 11/24/26                                  | CUSIP: 251526CE7<br>LEI: N/A                  | Long             | DBT              | CORP              | DE        |    375000 | NS      | $371206.94    | 0.09%             | 2026-11-24      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| ELMWOOD CLO X LTD                                                                    | ELM10 2021-3A AR2                                   | CUSIP: 29002VAW8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1300000 | NS      | $1300000.00   | 0.30%             | 2038-07-20      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Fair Isaac Corporation                                                               | FAIRIC 5.25 05/15/26 144A                           | CUSIP: 303250AE4<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    210000 | NS      | $210107.09    | 0.05%             | 2026-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FORD CREDIT AUTO OWNER TRUST 2023-C                                                  | FORDO 2023-C A2A                                    | CUSIP: 344940AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     43918 | NS      | $43942.96     | 0.01%             | 2026-09-15      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc.                                                                | FCX 4.625 08/01/30                                  | CUSIP: 35671DCH6<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    215000 | NS      | $212777.44    | 0.05%             | 2030-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| GE Healthcare Technologies Inc.                                                      | GEHC 5.65 11/15/27                                  | CUSIP: 36267VAF0<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    820000 | NS      | $844825.63    | 0.19%             | 2027-11-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| GENERATE CLO 15 LTD                                                                  | GNRT 2024-15A A                                     | CUSIP: 37147XAA1<br>LEI: 213800BPDOIOZQRIM719 | Long             | ABS-CBDO         | CORP              | JE        |   1300000 | NS      | $1304373.25   | 0.30%             | 2037-07-20      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| GENERATE CLO LTD 2025-22A                                                            | ABS FLOAT SER.2025-22A CL.A                         | CUSIP: 37150AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2625000 | NS      | $2625000.00   | 0.60%             | 2038-07-20      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| AGL CLO 40 LTD                                                                       | AGL 2025-40A A1                                     | CUSIP: 00122JAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2550000 | NS      | $2549704.25   | 0.58%             | 2038-07-22      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| HP Inc                                                                               | HPQ 4 04/15/29                                      | CUSIP: 40434LAK1<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    644000 | NS      | $630403.19    | 0.14%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HALSEYPOINT CLO II LTD 2020-02                                                       | HLSY 2020-2A D1R                                    | CUSIP: 40638TAS1<br>LEI: 549300PIQILNPH8UJT31 | Long             | ABS-CBDO         | CORP              | KY        |    900000 | NS      | $900387.00    | 0.21%             | 2037-07-20      | Floating      | 7.89%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc.                                                                  | ALLY 7.1 11/15/27                                   | CUSIP: 02005NBR0<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    550000 | NS      | $579563.69    | 0.13%             | 2027-11-15      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| Applovin Corp.                                                                       | APP 5.5 12/01/34                                    | CUSIP: 03831WAD0<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |    425000 | NS      | $431500.61    | 0.10%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AutoNation, Inc.                                                                     | AN 4.5 10/01/25                                     | CUSIP: 05329WAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    345000 | NS      | $344839.91    | 0.08%             | 2025-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AutoNation, Inc.                                                                     | AN 1.95 08/01/28                                    | CUSIP: 05329WAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | NS      | $115887.80    | 0.03%             | 2028-08-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: —       |
| BPR TRUST 2024-PMDW                                                                  | BPR 2024-PMDW A                                     | CUSIP: 05592VAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    700000 | NS      | $710626.56    | 0.16%             | 2041-11-07      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| BLP COMMERCIAL MORTGAGE TRUST 2024-                                                  | BLP 2024-IND2 A                                     | CUSIP: 05625AAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    782783 | NS      | $783761.06    | 0.18%             | 2041-03-15      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| Bank 2017-Bnk5 206                                                                   | BANK 2017-BNK5 A5                                   | CUSIP: 06541WAX0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1600000 | NS      | $1567170.38   | 0.36%             | 2060-06-17      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| BARINGS CLO LTD 2024-I                                                               | BABSN 2024-1A D                                     | CUSIP: 06763VAG0<br>LEI: 2549005VRCK51O5LRS39 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | NS      | $755123.25    | 0.17%             | 2037-01-21      | Floating      | 8.29%                 | No            |                  2 | On Loan: No      |
| Baylor Scott & White Holdings                                                        | BSWHLD 1.777 11/15/30 2021                          | CUSIP: 072863AH6<br>LEI: 549300JQDKSBWYRGGV95 | Long             | DBT              | CORP              | US        |    245000 | NS      | $214575.70    | 0.05%             | 2030-11-15      | Fixed         | 1.78%                 | No            |                  2 | On Loan: No      |
| BENCHMARK MORTGAGE TRUST                                                             | BMARK 2020-B22 A5                                   | CUSIP: 08163BBA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | NS      | $515563.63    | 0.12%             | 2054-01-16      | Fixed         | 1.97%                 | No            |                  2 | On Loan: No      |
| Berry Global Inc                                                                     | BERY 1.57 01/15/26                                  | CUSIP: 08576PAH4<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |    300000 | NS      | $294636.28    | 0.07%             | 2026-01-15      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| BMO 2024-5C4 MORTGAGE TRUST                                                          | BMO 2024-5C4 A3                                     | CUSIP: 09660SAU4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    950000 | NS      | $1008443.25   | 0.23%             | 2057-05-17      | Variable      | 6.53%                 | No            |                  2 | On Loan: No      |
| The Boeing Company                                                                   | BA 2.95 02/01/30                                    | CUSIP: 097023CN3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     29000 | NS      | $26884.68     | 0.01%             | 2030-02-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 2.45 02/15/31 144A                             | CUSIP: 11135FBH3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    885000 | NS      | $791362.41    | 0.18%             | 2031-02-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| CBAMR  2017-4A                                                                       | ABS FLOAT SER.2017-4A CL.A1R                        | CUSIP: 12516EAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2100000 | NS      | $2105250.00   | 0.48%             | 2038-03-31      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. | CHTR 4.908 07/23/25                                 | CUSIP: 161175AY0<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |    415000 | NS      | $414969.59    | 0.10%             | 2025-07-23      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners Lp                                                          | CQP 5.95 06/30/33                                   | CUSIP: 16411QAQ4<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    245000 | NS      | $255739.66    | 0.06%             | 2033-06-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C V6.02 01/24/36                                    | CUSIP: 172967PU9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    590000 | NS      | $605881.31    | 0.14%             | 2036-01-24      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| Hillenbrand, Inc.                                                                    | HI 3.75 03/01/31                                    | CUSIP: 431571AE8<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |    235000 | NS      | $210487.23    | 0.05%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Invitation Homes Operating Partnership Lp                                            | INVH 2.3 11/15/28                                   | CUSIP: 46188BAB8<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              | CORP              | US        |    300000 | NS      | $280881.94    | 0.06%             | 2028-11-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Columbia Pipelines Operating Co. LLC                                                 | CPGX 6.036 11/15/33 144A                            | CUSIP: 19828TAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    745000 | NS      | $781715.75    | 0.18%             | 2033-11-15      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST 2022-R05                                         | CAS 2022-R05 2M2                                    | CUSIP: 20754DAB3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    165000 | NS      | $169418.22    | 0.04%             | 2042-04-25      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST 2024-R03                                         | CAS 2024-R03 2M2                                    | CUSIP: 207941AB1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    175000 | NS      | $176416.66    | 0.04%             | 2044-03-25      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| DCP Midstream Operating LP                                                           | DCP 5.625 07/15/27                                  | CUSIP: 23311VAJ6<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    210000 | NS      | $214666.34    | 0.05%             | 2027-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Dell International L.L.C. and EMC Corporation                                        | DELL 6.2 07/15/30                                   | CUSIP: 24703TAH9<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |     25000 | NS      | $26752.50     | 0.01%             | 2030-07-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| FORD CR AUTO OWN 2021-REV1 TR                                                        | FORDR 2021-1 A                                      | CUSIP: 345340AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | NS      | $487889.31    | 0.11%             | 2033-10-15      | Fixed         | 1.37%                 | No            |                  2 | On Loan: No      |
| GM FINANCIAL CONSUMER AUTOMOBILE RECEIVABLES TRUST 2023-4                            | GMCAR 2023-4 A2A                                    | CUSIP: 379930AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50211 | NS      | $50264.07     | 0.01%             | 2026-11-16      | Fixed         | 5.89%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                             | HCA 5.625 09/01/28                                  | CUSIP: 404121AJ4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    200000 | NS      | $205911.47    | 0.05%             | 2028-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRUST 2022-NLP                        | JPMCC 2022-NLP B                                    | CUSIP: 466317AG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    707803 | NS      | $695416.13    | 0.16%             | 2037-04-15      | Variable      | 5.51%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST 2021-LTV2                                                 | JPMMT 2021-LTV2 A1                                  | CUSIP: 46654VAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    676050 | NS      | $582314.81    | 0.13%             | 2052-05-25      | Variable      | 2.52%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST 2023-DSC                                                  | JPMMT 2023-DSC1 A1                                  | CUSIP: 46656NAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    519212 | NS      | $505252.50    | 0.12%             | 2063-07-25      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| JDE Peets N.V                                                                        | JDEPNA 1.375 01/15/27 144A                          | CUSIP: 47216QAB9<br>LEI: 724500EHG519SE5ZRT89 | Long             | DBT              | CORP              | NL        |   1355000 | NS      | $1289236.59   | 0.30%             | 2027-01-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| HOUSTON GALLERIA TR 2025-HGLR                                                        | HGMT 2025-HGLR A                                    | CUSIP: 44216XAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    650000 | NS      | $666910.06    | 0.15%             | 2045-02-07      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| IRV TRUST 2025-200P                                                                  | IRV 2025-200P A                                     | CUSIP: 45006HAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | NS      | $758257.56    | 0.17%             | 2047-03-14      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper Inc                                                                 | KDP 4.597 05/25/28                                  | CUSIP: 49271VAF7<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    800000 | NS      | $806111.94    | 0.18%             | 2028-05-25      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp                                                                 | LVS 6 06/14/30                                      | CUSIP: 517834AN7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    180000 | NS      | $185701.16    | 0.04%             | 2030-06-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Indigo Merger Sub Inc                                                                | ICLR 2.875 07/15/26 144A                            | CUSIP: 45569KAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    235000 | NS      | $229320.05    | 0.05%             | 2026-07-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| J.P.MORGAN MORTGAGE TRUST 2023-HE3                                                   | JPMMT 2023-HE3 A1                                   | CUSIP: 465985AA7<br>LEI: 5299007DSRZLE19EYU93 | Long             | ABS-O            | CORP              | US        |    226270 | NS      | $227370.03    | 0.05%             | 2054-05-20      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| LOUISIANA LOC GOVT ENVIRONMENTAL FACS & CMNTY DEV AUTH                               | LA LASGOV 4.28 02/01/2036                           | CUSIP: 54627RAN0<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    620000 | NS      | $602851.38    | 0.14%             | 2036-02-01      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| MF1 2021-FL6 LTD                                                                     | MF1 2021-FL6 A                                      | CUSIP: 55283TAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    139883 | NS      | $139704.48    | 0.03%             | 2036-07-18      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| KRE COMMERCIAL MORTGAGE TRUST 2025-                                                  | KRE 2025-AIP4 A                                     | CUSIP: 50077KAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1150000 | NS      | $1147125.00   | 0.26%             | 2042-03-17      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| LV TR 2024-SHOW                                                                      | LV 2024-SHOW A                                      | CUSIP: 50245XAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    950000 | NS      | $959369.94    | 0.22%             | 2041-10-10      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| Lithia Motors Incorporated                                                           | LAD 4.375 01/15/31 144A                             | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    220000 | NS      | $209192.42    | 0.05%             | 2031-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                                                                | LOW 3.75 04/01/32                                   | CUSIP: 548661EH6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    225000 | NS      | $212202.86    | 0.05%             | 2032-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                              | MPLX 1.75 03/01/26                                  | CUSIP: 55336VBR0<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   1050000 | NS      | $1029717.63   | 0.24%             | 2026-03-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| MSCI Inc.                                                                            | MSCI 3.625 09/01/30 144A                            | CUSIP: 55354GAK6<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    225000 | NS      | $211037.45    | 0.05%             | 2030-09-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| MSCI Inc.                                                                            | MSCI 4 11/15/29 144A                                | CUSIP: 55354GAH3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    585000 | NS      | $566095.56    | 0.13%             | 2029-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mars Inc.                                                                            | MARS 4.8 03/01/30 144A                              | CUSIP: 571676AY1<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   1200000 | NS      | $1215839.88   | 0.28%             | 2030-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Mars Inc.                                                                            | MARS 5.2 03/01/35 144A                              | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   1425000 | NS      | $1442070.25   | 0.33%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Mueller Water Products, Inc.                                                         | MWA 4 06/15/29 144A                                 | CUSIP: 624758AF5<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | DBT              | CORP              | US        |    230000 | NS      | $220808.88    | 0.05%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| 1988 CLO 4 LTD                                                                       | MUZ88 2024-4A D                                     | CUSIP: 68252EAJ0<br>LEI: 2549000NTXDB3VOXDV92 | Long             | ABS-CBDO         | CORP              | KY        |   1075000 | NS      | $1084901.88   | 0.25%             | 2037-04-15      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 4.9 02/06/33                                   | CUSIP: 68389XCP8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    537000 | NS      | $538436.88    | 0.12%             | 2033-02-06      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS V5.164 04/20/29 MTN                              | CUSIP: 61747YFD2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    589000 | NS      | $600544.50    | 0.14%             | 2029-04-20      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| National Bank of Kuwait S.A.K.P.                                                     | NTBKKK 4.63 08/28/25 YCD                            | CUSIP: 63376FS43<br>LEI: 549300NB7FE83IH6BW96 | Long             | STIV             | CORP              | KW        |   1146000 | NS      | $1146195.63   | 0.26%             | 2025-08-28      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| OBX 2022-J2 TRUST                                                                    | OBX 2022-J2 A1                                      | CUSIP: 67115QAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    532149 | NS      | $469200.03    | 0.11%             | 2052-08-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 6.25 11/09/32                                  | CUSIP: 68389XCJ2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1000000 | NS      | $1082157.75   | 0.25%             | 2032-11-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| REGATTA 32 FUNDING LTD                                                               | REG32 2025-4A A1                                    | CUSIP: 75884AAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1950000 | NS      | $1956493.50   | 0.45%             | 2038-07-25      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| SREIT 2021-FLWR                                                                      | SREIT 2021-FLWR A                                   | CUSIP: 78485GAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1788828 | NS      | $1787710.00   | 0.41%             | 2036-07-15      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO 2025-1                                                          | SDART 2025-1 A2                                     | CUSIP: 80288DAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    331817 | NS      | $331926.44    | 0.08%             | 2027-08-15      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| Trinitas Clo VI Limited                                                              | TRNTS 2017-6A CRR1                                  | CUSIP: 89640YAY0<br>LEI: 549300IUAXGLQ814UD95 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | NS      | $2000544.00   | 0.46%             | 2034-01-25      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                        | USB V5.775 06/12/29                                 | CUSIP: 91159HJM3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    445000 | NS      | $462092.19    | 0.11%             | 2029-06-12      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| VERUS SECURITIZATION 2025-INV1                                                       | VERUS 2025-INV1 A1                                  | CUSIP: 924929AC6<br>LEI: 213800YO7QOQOFRSRN78 | Long             | ABS-O            | CORP              | US        |    744427 | NS      | $748513.69    | 0.17%             | 2070-02-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| Owens Corning                                                                        | OC 3.5 02/15/30                                     | CUSIP: 690742AM3<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |    235000 | NS      | $224563.55    | 0.05%             | 2030-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co LP / PTL Finance Corp.                                       | PENSKE 4.4 07/01/27 144A                            | CUSIP: 709599BN3<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | DBT              | CORP              | US        |   1075000 | NS      | $1073443.88   | 0.25%             | 2027-07-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Quicken Lns Llc/Quicken Lns Co-Issuer Inc                                            | RKTRM 3.625 03/01/29 144A                           | CUSIP: 74841CAA9<br>LEI: 549300FGXN1K3HLB1R50 | Long             | DBT              | CORP              | US        |    235000 | NS      | $223311.03    | 0.05%             | 2029-03-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| ROCK TRUST 2024-CNTR                                                                 | ROCC 2024-CNTR D                                    | CUSIP: 74970WAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | NS      | $783263.25    | 0.18%             | 2041-11-15      | Fixed         | 7.11%                 | No            |                  2 | On Loan: No      |
| Raizen Fuels Finance SA                                                              | RAIZBZ 6.7 02/25/37 144A                            | CUSIP: 75102XAE6<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |    350000 | NS      | $342125.00    | 0.08%             | 2037-02-25      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO 2025-1                                                          | SDART 2025-1 A3                                     | CUSIP: 80288DAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1050000 | NS      | $1051232.13   | 0.24%             | 2029-01-15      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| VERUS SEC TR 2021-8                                                                  | VERUS 2021-8 A1                                     | CUSIP: 92538GAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     72369 | NS      | $66083.37     | 0.02%             | 2066-11-25      | Variable      | 1.82%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRU                                                  | WFCM 2024-1CHI A                                    | CUSIP: 95003PAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1125000 | NS      | $1131743.88   | 0.26%             | 2035-07-17      | Variable      | 5.48%                 | No            |                  2 | On Loan: No      |
| The J M Smucker Company                                                              | SJM 5.9 11/15/28                                    | CUSIP: 832696AW8<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |    580000 | NS      | $609511.63    | 0.14%             | 2028-11-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Steel Dynamics, Inc.                                                                 | STLD 1.65 10/15/27                                  | CUSIP: 858119BN9<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |    250000 | NS      | $235626.84    | 0.05%             | 2027-10-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRU                                                  | WFCM 2024-1CHI B                                    | CUSIP: 95003PAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    700000 | NS      | $704067.75    | 0.16%             | 2035-07-17      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| Workday Inc                                                                          | WDAY 3.8 04/01/32                                   | CUSIP: 98138HAJ0<br>LEI: 549300J0DYC0N31V7G13 | Long             | DBT              | CORP              | US        |    175000 | NS      | $164439.63    | 0.04%             | 2032-04-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| SUNNOVA HESTIA I 2023-GRIDI                                                          | SNVA 2023-GRID1 1A                                  | CUSIP: 86746BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    111277 | NS      | $112087.68    | 0.03%             | 2050-12-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 3.375 04/15/29                                 | CUSIP: 87264ABV6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    230000 | NS      | $221293.91    | 0.05%             | 2029-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Take-Two Interactive Software Inc.                                                   | TTWO 3.7 04/14/27                                   | CUSIP: 874054AG4<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |    400000 | NS      | $396049.06    | 0.09%             | 2027-04-14      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                               | TFC V6.047 06/08/27 MTN                             | CUSIP: 89788MAN2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    165000 | NS      | $167216.75    | 0.04%             | 2027-06-08      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                         | TII 2.125 02/15/54                                  | CUSIP: 912810TY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9200000 | NS      | $8794223.50   | 2.02%             | 2054-02-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | TII 1.125 01/15/33                                  | CUSIP: 91282CGK1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  24490000 | NS      | $25201541.50  | 5.78%             | 2033-01-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | TII 1.375 07/15/33                                  | CUSIP: 91282CHP9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13645600 | NS      | $13996506.56  | 3.21%             | 2033-07-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | TII 1.625 10/15/29                                  | CUSIP: 91282CLV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16080000 | NS      | $16594922.00  | 3.80%             | 2029-10-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                             | VST 5 07/31/27 144A                                 | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    230000 | NS      | $229717.36    | 0.05%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Voya Clo 2020-2 Ltd / Llc                                                            | VOYA 2020-2A A1RR                                   | CUSIP: 92918HAT7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2250000 | NS      | $2253255.75   | 0.52%             | 2038-01-20      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| WB COMMERCIAL MORTGAGE TRUST 2024-HQ                                                 | WB 2024-HQ B                                        | CUSIP: 92943PAC5<br>LEI: 549300GK97AYN6BKKT80 | Long             | ABS-O            | CORP              | US        |   1050000 | NS      | $1052903.50   | 0.24%             | 2040-03-16      | Variable      | 6.63%                 | No            |                  2 | On Loan: No      |
| Waste Management, Inc.                                                               | WM 4.15 04/15/32                                    | CUSIP: 94106LBS7<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    200000 | NS      | $195755.22    | 0.04%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: —       |
| Workday Inc                                                                          | WDAY 3.5 04/01/27                                   | CUSIP: 98138HAG6<br>LEI: 549300J0DYC0N31V7G13 | Long             | DBT              | CORP              | US        |    250000 | NS      | $246764.70    | 0.06%             | 2027-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Workday Inc                                                                          | WDAY 3.7 04/01/29                                   | CUSIP: 98138HAH4<br>LEI: 549300J0DYC0N31V7G13 | Long             | DBT              | CORP              | US        |    275000 | NS      | $268586.13    | 0.06%             | 2029-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                                | ROMANI 3 02/14/31 REGS                              | CUSIP: X7360WBP6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    856000 | NS      | $731987.13    | 0.17%             | 2031-02-14      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-20

**Name of Applicant:** EMPOWER FUNDS, INC.

**Signature:** /s/Kelly New

**Name of Signer:** Kelly New

**Title:** Treasurer, Empower Funds, Inc.