# EDGAR Filing Document

**Accession Number:** 0001506768
**File Stem:** 0000894189-25-013952
**Filing Date:** 2025-11
**Character Count:** 141344
**Document Hash:** 89c0f2172b8eb889c4c3a847e119849b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-013952.hdr.sgml**: 20251118

**ACCESSION NUMBER**: 0000894189-25-013952

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251118

**DATE AS OF CHANGE**: 20251118

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LOCORR INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0001506768

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22509
- **FILM NUMBER:** 251493574

**BUSINESS ADDRESS:**
- **STREET 1:** 687 EXCELSIOR BLVD
- **CITY:** EXCELSIOR
- **STATE:** MN
- **ZIP:** 55331
- **BUSINESS PHONE:** 952-767-6900

**MAIL ADDRESS:**
- **STREET 1:** 687 EXCELSIOR BLVD
- **CITY:** EXCELSIOR
- **STATE:** MN
- **ZIP:** 55331

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LoCorr Investment Trust
- **DATE OF NAME CHANGE:** 20101201

## Series and Classes Contracts Data

### LoCorr Market Trend Fund (Series ID: S000045488)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000141580 | Class A      | LOTAX           |
| C000141581 | Class C      | LOTCX           |
| C000141582 | Class I      | LOTIX           |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **LoCorr Market Trend Fund** | **LoCorr Market Trend Fund** | **LoCorr Market Trend Fund** | **LoCorr Market Trend Fund** |
| **Consolidated Schedule of Investments** | **Consolidated Schedule of Investments** | **Consolidated Schedule of Investments** | **Consolidated Schedule of Investments** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **U.S. TREASURY SECURITIES - 33.1%** | **U.S. TREASURY SECURITIES - 33.1%** | **Par** | **Value**  |
| United States Treasury Note/Bond | United States Treasury Note/Bond | United States Treasury Note/Bond | United States Treasury Note/Bond |
| &nbsp;&nbsp; 4.50%, 07/15/2026 | &nbsp;&nbsp; 4.50%, 07/15/2026 | 5445000 | $5475330 |
| &nbsp;&nbsp; 4.50%, 04/15/2027 | &nbsp;&nbsp; 4.50%, 04/15/2027 | 1430000 | 1447819 |
| &nbsp;&nbsp; 3.88%, 11/30/2027 | &nbsp;&nbsp; 3.88%, 11/30/2027 | 4565000 | 4589965 |
| &nbsp;&nbsp; 1.38%, 10/31/2028 | &nbsp;&nbsp; 1.38%, 10/31/2028 | 4925000 | 4603144 |
| &nbsp;&nbsp; 4.25%, 02/28/2029 | &nbsp;&nbsp; 4.25%, 02/28/2029 | 14880000 | 15165975 |
| &nbsp;&nbsp; 4.63%, 04/30/2029 | &nbsp;&nbsp; 4.63%, 04/30/2029 | 23205000 | 23950098 |
| &nbsp;&nbsp; 3.25%, 06/30/2029 | &nbsp;&nbsp; 3.25%, 06/30/2029 | 17505000 | 17247212 |
| &nbsp;&nbsp; 4.00%, 02/28/2030 | &nbsp;&nbsp; 4.00%, 02/28/2030 | 19860000 | 20095837 |
| &nbsp;&nbsp; 3.88%, 06/30/2030 | &nbsp;&nbsp; 3.88%, 06/30/2030 | 3135000 | 3154961 |
| &nbsp;&nbsp; 3.63%, 09/30/2030 | &nbsp;&nbsp; 3.63%, 09/30/2030 | 2300000 | 2288949 |
| **TOTAL U.S. TREASURY SECURITIES** (Cost $96,674,568) | **TOTAL U.S. TREASURY SECURITIES** (Cost $96,674,568) | **TOTAL U.S. TREASURY SECURITIES** (Cost $96,674,568) | 98019290 |
| **CORPORATE BONDS - 19.5%** | **CORPORATE BONDS - 19.5%** | **Par** | **Value**  |
| **Aerospace & Defense - 0.9%** | **Aerospace & Defense - 0.9%** | **Aerospace & Defense - 0.9%** | **Aerospace & Defense - 0.9%** |
|  Boeing Co., 3.25%, 02/01/2028 | Boeing Co., 3.25%, 02/01/2028 | 1100000 | 1074561 |
|  L3Harris Technologies, Inc., 5.40%, 01/15/2027 | L3Harris Technologies, Inc., 5.40%, 01/15/2027 | 985000 | 1001261 |
|  RTX Corp., 4.13%, 11/16/2028 | RTX Corp., 4.13%, 11/16/2028 | 455000 | 455603 |
|  |  |  | 2531425 |
| **Agriculture - 0.2%** | **Agriculture - 0.2%** | **Agriculture - 0.2%** | **Agriculture - 0.2%** |
|  Philip Morris International, Inc., 4.63%, 11/01/2029 | Philip Morris International, Inc., 4.63%, 11/01/2029 | 550000 | 558252 |
| **Auto Manufacturers - 0.4%** | **Auto Manufacturers - 0.4%** | **Auto Manufacturers - 0.4%** | **Auto Manufacturers - 0.4%** |
|  General Motors Financial Co., Inc., 5.35%, 01/07/2030 | General Motors Financial Co., Inc., 5.35%, 01/07/2030 | 890000 | 911901 |
|  Volkswagen Group of America Finance LLC, 1.25%, 11/24/2025 <sup>(a)</sup> | Volkswagen Group of America Finance LLC, 1.25%, 11/24/2025 <sup>(a)</sup> | 405000 | 403079 |
|  |  |  | 1314980 |
| **Banks - 6.5%** | **Banks - 6.5%** | **Banks - 6.5%** | **Banks - 6.5%** |
| Bank of America Corp. | Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
| &nbsp;&nbsp; 4.38% to 04/27/2027 then SOFR + 1.58%, 04/27/2028 | &nbsp;&nbsp; 4.38% to 04/27/2027 then SOFR + 1.58%, 04/27/2028 | 1735000 | 1741588 |
| &nbsp;&nbsp; 5.16% to 01/24/2030 then SOFR + 1.00%, 01/24/2031 | &nbsp;&nbsp; 5.16% to 01/24/2030 then SOFR + 1.00%, 01/24/2031 | 2440000 | 2518789 |
|  Bank of New York Mellon, 4.59% to 04/20/2026 then SOFR + 0.69%, 04/20/2027 | Bank of New York Mellon, 4.59% to 04/20/2026 then SOFR + 0.69%, 04/20/2027 | 1975000 | 1981172 |
|  Citibank NA, 4.58%, 05/29/2027 | Citibank NA, 4.58%, 05/29/2027 | 1100000 | 1109937 |
|  Citigroup, Inc., 4.50% to 09/11/2030 then SOFR + 1.17%, 09/11/2031 | Citigroup, Inc., 4.50% to 09/11/2030 then SOFR + 1.17%, 09/11/2031 | 650000 | 650412 |
|  Credit Agricole SA, 5.22% to 05/27/2030 then SOFR + 1.46%, 05/27/2031 <sup>(a)</sup> | Credit Agricole SA, 5.22% to 05/27/2030 then SOFR + 1.46%, 05/27/2031 <sup>(a)</sup> | 250000 | 256585 |
|  Credit Suisse AG, 5.00%, 07/09/2027 | Credit Suisse AG, 5.00%, 07/09/2027 | 425000 | 432238 |
|  Deutsche Bank AG/New York NY, 5.00% to 09/11/2029 then SOFR + 1.70%, 09/11/2030 | Deutsche Bank AG/New York NY, 5.00% to 09/11/2029 then SOFR + 1.70%, 09/11/2030 | 265000 | 268861 |
|  Federation des Caisses Desjardins du Quebec, 5.70%, 03/14/2028 <sup>(a)</sup> | Federation des Caisses Desjardins du Quebec, 5.70%, 03/14/2028 <sup>(a)</sup> | 645000 | 668667 |
| Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. |
| &nbsp;&nbsp; 6.48% to 10/24/2028 then SOFR + 1.77%, 10/24/2029 | &nbsp;&nbsp; 6.48% to 10/24/2028 then SOFR + 1.77%, 10/24/2029 | 380000 | 404483 |
| &nbsp;&nbsp; 5.22% to 04/23/2030 then SOFR + 1.58%, 04/23/2031 | &nbsp;&nbsp; 5.22% to 04/23/2030 then SOFR + 1.58%, 04/23/2031 | 440000 | 454972 |
|  HSBC Holdings PLC, 6.16% to 03/09/2028 then SOFR + 1.97%, 03/09/2029 | HSBC Holdings PLC, 6.16% to 03/09/2028 then SOFR + 1.97%, 03/09/2029 | 575000 | 599738 |
|  JPMorgan Chase & Co., 5.10% to 04/22/2030 then SOFR + 1.44%, 04/22/2031 | JPMorgan Chase & Co., 5.10% to 04/22/2030 then SOFR + 1.44%, 04/22/2031 | 2235000 | 2310085 |
|  Morgan Stanley, 5.19% to 04/17/2030 then SOFR + 1.51%, 04/17/2031 | Morgan Stanley, 5.19% to 04/17/2030 then SOFR + 1.51%, 04/17/2031 | 1070000 | 1104739 |
|  Morgan Stanley Private Bank NA, 4.73% to 07/18/2030 then SOFR + 1.08%, 07/18/2031 | Morgan Stanley Private Bank NA, 4.73% to 07/18/2030 then SOFR + 1.08%, 07/18/2031 | 1120000 | 1136868 |
|  NatWest Markets PLC, 5.41%, 05/17/2029 <sup>(a)</sup> | NatWest Markets PLC, 5.41%, 05/17/2029 <sup>(a)</sup> | 755000 | 783183 |
|  State Street Corp., 4.54%, 02/28/2028 | State Street Corp., 4.54%, 02/28/2028 | 540000 | 546972 |
|  UBS Group AG, 6.33% to 12/22/2026 then 1 yr. CMT Rate + 1.60%, 12/22/2027 <sup>(a)</sup> | UBS Group AG, 6.33% to 12/22/2026 then 1 yr. CMT Rate + 1.60%, 12/22/2027 <sup>(a)</sup> | 665000 | 681757 |
|  Wells Fargo & Co., 5.15% to 04/23/2030 then SOFR + 1.50%, 04/23/2031 | Wells Fargo & Co., 5.15% to 04/23/2030 then SOFR + 1.50%, 04/23/2031 | 1470000 | 1516432 |
|  |  |  | 19167478 |
| **Beverages - 0.2%** | **Beverages - 0.2%** | **Beverages - 0.2%** | **Beverages - 0.2%** |
|  PepsiCo, Inc., 4.10%, 01/15/2029 | PepsiCo, Inc., 4.10%, 01/15/2029 | 610000 | 612224 |
| **Biotechnology - 0.3%** | **Biotechnology - 0.3%** | **Biotechnology - 0.3%** | **Biotechnology - 0.3%** |
|  Amgen, Inc., 5.15%, 03/02/2028 | Amgen, Inc., 5.15%, 03/02/2028 | 735000 | 752305 |
| **Building Materials - 0.1%** | **Building Materials - 0.1%** | **Building Materials - 0.1%** | **Building Materials - 0.1%** |
|  Trane Technologies Financing Ltd., 3.50%, 03/21/2026 | Trane Technologies Financing Ltd., 3.50%, 03/21/2026 | 335000 | 333763 |
| **Computers - 0.2%** | **Computers - 0.2%** | **Computers - 0.2%** | **Computers - 0.2%** |
|  Hewlett Packard Enterprise Co., 4.55%, 10/15/2029 | Hewlett Packard Enterprise Co., 4.55%, 10/15/2029 | 655000 | 658685 |
| **Cosmetics & Personal Care - 0.4%** | **Cosmetics & Personal Care - 0.4%** | **Cosmetics & Personal Care - 0.4%** | **Cosmetics & Personal Care - 0.4%** |
|  Haleon US Capital LLC, 3.38%, 03/24/2027 | Haleon US Capital LLC, 3.38%, 03/24/2027 | 1200000 | 1187686 |
| **Diversified Financial Services - 0.4%** | **Diversified Financial Services - 0.4%** | **Diversified Financial Services - 0.4%** | **Diversified Financial Services - 0.4%** |
|  AerCap Ireland Capital/Global Aviation Trust, 6.10%, 01/15/2027 | AerCap Ireland Capital/Global Aviation Trust, 6.10%, 01/15/2027 | 1245000 | 1271789 |
| **Electric - 1.0%** | **Electric - 1.0%** | **Electric - 1.0%** | **Electric - 1.0%** |
|  Duke Energy Carolinas LLC, 4.85%, 03/15/2030 | Duke Energy Carolinas LLC, 4.85%, 03/15/2030 | 630000 | 647380 |
| Florida Power & Light Co. | Florida Power & Light Co. | Florida Power & Light Co. | Florida Power & Light Co. |
| &nbsp;&nbsp; 5.05%, 04/01/2028 | &nbsp;&nbsp; 5.05%, 04/01/2028 | 715000 | 733760 |
| &nbsp;&nbsp; 4.40%, 05/15/2028 | &nbsp;&nbsp; 4.40%, 05/15/2028 | 920000 | 930554 |
|  NSTAR Electric Co., 3.20%, 05/15/2027 | NSTAR Electric Co., 3.20%, 05/15/2027 | 595000 | 587213 |
|  Southern California Edison Co., 1.20%, 02/01/2026 | Southern California Edison Co., 1.20%, 02/01/2026 | 185000 | 182864 |
|  |  |  | 3081771 |
| **Electronics - 0.4%** | **Electronics - 0.4%** | **Electronics - 0.4%** | **Electronics - 0.4%** |
| Honeywell International, Inc. | Honeywell International, Inc. | Honeywell International, Inc. | Honeywell International, Inc. |
| &nbsp;&nbsp; 4.65%, 07/30/2027 | &nbsp;&nbsp; 4.65%, 07/30/2027 | 765000 | 774183 |
| &nbsp;&nbsp; 4.88%, 09/01/2029 | &nbsp;&nbsp; 4.88%, 09/01/2029 | 285000 | 293165 |
|  |  |  | 1067348 |
| **Food - 2.4%** | **Food - 2.4%** | **Food - 2.4%** | **Food - 2.4%** |
|  General Mills, Inc., 4.88%, 01/30/2030 | General Mills, Inc., 4.88%, 01/30/2030 | 715000 | 730087 |
|  Kraft Heinz Foods Co., 3.88%, 05/15/2027 | Kraft Heinz Foods Co., 3.88%, 05/15/2027 | 625000 | 622183 |
| Mars, Inc. | Mars, Inc. | Mars, Inc. | Mars, Inc. |
| &nbsp;&nbsp; 4.60%, 03/01/2028 <sup>(a)</sup> | &nbsp;&nbsp; 4.60%, 03/01/2028 <sup>(a)</sup> | 2690000 | 2723233 |
| &nbsp;&nbsp; 4.80%, 03/01/2030 <sup>(a)</sup> | &nbsp;&nbsp; 4.80%, 03/01/2030 <sup>(a)</sup> | 2540000 | 2588602 |
|  Sysco Corp., 3.25%, 07/15/2027 | Sysco Corp., 3.25%, 07/15/2027 | 490000 | 483250 |
|  |  |  | 7147355 |
| **Healthcare-Services - 0.6%** | **Healthcare-Services - 0.6%** | **Healthcare-Services - 0.6%** | **Healthcare-Services - 0.6%** |
|  HCA, Inc., 5.00%, 03/01/2028 | HCA, Inc., 5.00%, 03/01/2028 | 395000 | 402328 |
| UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. |
| &nbsp;&nbsp; 4.40%, 06/15/2028 | &nbsp;&nbsp; 4.40%, 06/15/2028 | 360000 | 363561 |
| &nbsp;&nbsp; 4.25%, 01/15/2029 | &nbsp;&nbsp; 4.25%, 01/15/2029 | 1005000 | 1008075 |
|  |  |  | 1773964 |
| **Insurance - 0.4%** | **Insurance - 0.4%** | **Insurance - 0.4%** | **Insurance - 0.4%** |
|  Brown & Brown, Inc., 4.60%, 12/23/2026 | Brown & Brown, Inc., 4.60%, 12/23/2026 | 450000 | 452403 |
|  Metropolitan Life Global Funding I, 5.05%, 01/06/2028 <sup>(a)</sup> | Metropolitan Life Global Funding I, 5.05%, 01/06/2028 <sup>(a)</sup> | 295000 | 301241 |
|  Principal Life Global Funding II, 0.88%, 01/12/2026 <sup>(a)</sup> | Principal Life Global Funding II, 0.88%, 01/12/2026 <sup>(a)</sup> | 435000 | 430583 |
|  |  |  | 1184227 |
| **Packaging & Containers - 0.1%** | **Packaging & Containers - 0.1%** | **Packaging & Containers - 0.1%** | **Packaging & Containers - 0.1%** |
|  Amcor Group Finance PLC, 5.45%, 05/23/2029 | Amcor Group Finance PLC, 5.45%, 05/23/2029 | 290000 | 299686 |
| **Pharmaceuticals - 0.9%** | **Pharmaceuticals - 0.9%** | **Pharmaceuticals - 0.9%** | **Pharmaceuticals - 0.9%** |
|  AbbVie, Inc., 4.80%, 03/15/2029 | AbbVie, Inc., 4.80%, 03/15/2029 | 290000 | 296654 |
| CVS Health Corp. | CVS Health Corp. | CVS Health Corp. | CVS Health Corp. |
| &nbsp;&nbsp; 2.88%, 06/01/2026 | &nbsp;&nbsp; 2.88%, 06/01/2026 | 1195000 | 1183936 |
| &nbsp;&nbsp; 5.00%, 01/30/2029 | &nbsp;&nbsp; 5.00%, 01/30/2029 | 700000 | 713742 |
|  EMD Finance LLC, 4.13%, 08/15/2028 <sup>(a)</sup> | EMD Finance LLC, 4.13%, 08/15/2028 <sup>(a)</sup> | 570000 | 570263 |
|  |  |  | 2764595 |
| **Pipelines - 0.7%** | **Pipelines - 0.7%** | **Pipelines - 0.7%** | **Pipelines - 0.7%** |
|  Enbridge, Inc., 6.00%, 11/15/2028 | Enbridge, Inc., 6.00%, 11/15/2028 | 535000 | 562866 |
|  Energy Transfer LP, 6.05%, 12/01/2026 | Energy Transfer LP, 6.05%, 12/01/2026 | 1170000 | 1191902 |
|  South Bow USA Infrastructure Holdings LLC, 4.91%, 09/01/2027 | South Bow USA Infrastructure Holdings LLC, 4.91%, 09/01/2027 | 330000 | 332878 |
|  |  |  | 2087646 |
| **REITS - 1.2%** | **REITS - 1.2%** | **REITS - 1.2%** | **REITS - 1.2%** |
|  American Homes 4 Rent LP, 4.90%, 02/15/2029 | American Homes 4 Rent LP, 4.90%, 02/15/2029 | 305000 | 310304 |
|  Brixmor Operating Partnership LP, 4.13%, 06/15/2026 | Brixmor Operating Partnership LP, 4.13%, 06/15/2026 | 345000 | 344450 |
|  Essex Portfolio LP, 1.70%, 03/01/2028 | Essex Portfolio LP, 1.70%, 03/01/2028 | 295000 | 278376 |
| GLP Capital LP / GLP Financing II, Inc. | GLP Capital LP / GLP Financing II, Inc. | GLP Capital LP / GLP Financing II, Inc. | GLP Capital LP / GLP Financing II, Inc. |
| &nbsp;&nbsp; 5.75%, 06/01/2028 | &nbsp;&nbsp; 5.75%, 06/01/2028 | 220000 | 226105 |
| &nbsp;&nbsp; 4.00%, 01/15/2030 | &nbsp;&nbsp; 4.00%, 01/15/2030 | 355000 | 343767 |
|  Kite Realty Group LP, 4.00%, 10/01/2026 | Kite Realty Group LP, 4.00%, 10/01/2026 | 905000 | 902656 |
|  Lineage OP LP, 5.25%, 07/15/2030 <sup>(a)</sup> | Lineage OP LP, 5.25%, 07/15/2030 <sup>(a)</sup> | 585000 | 593159 |
|  Prologis Targeted US Logistics Fund LP, 5.25%, 04/01/2029 <sup>(a)</sup> | Prologis Targeted US Logistics Fund LP, 5.25%, 04/01/2029 <sup>(a)</sup> | 655000 | 676135 |
|  |  |  | 3674952 |
| **Retail - 0.6%** | **Retail - 0.6%** | **Retail - 0.6%** | **Retail - 0.6%** |
|  Home Depot, Inc., 4.88%, 06/25/2027 | Home Depot, Inc., 4.88%, 06/25/2027 | 490000 | 498170 |
| O'Reilly Automotive, Inc. | O'Reilly Automotive, Inc. | O'Reilly Automotive, Inc. | O'Reilly Automotive, Inc. |
| &nbsp;&nbsp; 5.75%, 11/20/2026 | &nbsp;&nbsp; 5.75%, 11/20/2026 | 685000 | 696872 |
| &nbsp;&nbsp; 4.20%, 04/01/2030 | &nbsp;&nbsp; 4.20%, 04/01/2030 | 315000 | 313952 |
|  Walmart, Inc., 4.35%, 04/28/2030 | Walmart, Inc., 4.35%, 04/28/2030 | 180000 | 182989 |
|  |  |  | 1691983 |
| **Semiconductors - 0.2%** | **Semiconductors - 0.2%** | **Semiconductors - 0.2%** | **Semiconductors - 0.2%** |
|  Broadcom, Inc., 4.60%, 07/15/2030 | Broadcom, Inc., 4.60%, 07/15/2030 | 435000 | 441667 |
| **Software - 0.4%** | **Software - 0.4%** | **Software - 0.4%** | **Software - 0.4%** |
| Oracle Corp. | Oracle Corp. | Oracle Corp. | Oracle Corp. |
| &nbsp;&nbsp; 4.80%, 08/03/2028 | &nbsp;&nbsp; 4.80%, 08/03/2028 | 470000 | 477994 |
| &nbsp;&nbsp; 4.45%, 09/26/2030 | &nbsp;&nbsp; 4.45%, 09/26/2030 | 215000 | 214852 |
|  Roper Technologies, Inc., 4.25%, 09/15/2028 | Roper Technologies, Inc., 4.25%, 09/15/2028 | 500000 | 502408 |
|  |  |  | 1195254 |
| **Telecommunications - 1.0%** | **Telecommunications - 1.0%** | **Telecommunications - 1.0%** | **Telecommunications - 1.0%** |
|  AT&T, Inc., 2.30%, 06/01/2027 | AT&T, Inc., 2.30%, 06/01/2027 | 750000 | 728047 |
| T-Mobile USA, Inc. | T-Mobile USA, Inc. | T-Mobile USA, Inc. | T-Mobile USA, Inc. |
| &nbsp;&nbsp; 4.80%, 07/15/2028 | &nbsp;&nbsp; 4.80%, 07/15/2028 | 495000 | 503943 |
| &nbsp;&nbsp; 4.85%, 01/15/2029 | &nbsp;&nbsp; 4.85%, 01/15/2029 | 960000 | 979498 |
|  Verizon Communications, Inc., 2.10%, 03/22/2028 | Verizon Communications, Inc., 2.10%, 03/22/2028 | 780000 | 744083 |
|  |  |  | 2955571 |
| **TOTAL CORPORATE BONDS** (Cost $56,827,948) | **TOTAL CORPORATE BONDS** (Cost $56,827,948) | **TOTAL CORPORATE BONDS** (Cost $56,827,948) | 57754606 |
| **MORTGAGE-BACKED SECURITIES - 11.4%** | **MORTGAGE-BACKED SECURITIES - 11.4%** | **Par** | **Value**  |
|  Alen Mortgage Trust, Series 2021-ACEN, Class A, 5.42% (1 mo. Term SOFR + 1.26%), 04/15/2034, (1.15% Floor) <sup>(a)</sup> | Alen Mortgage Trust, Series 2021-ACEN, Class A, 5.42% (1 mo. Term SOFR + 1.26%), 04/15/2034, (1.15% Floor) <sup>(a)</sup> | 600000 | 581250 |
|  Angel Oak Mortgage Trust LLC, Series 2020-5, Class A3, 2.04%, 05/25/2065 <sup>(a)(b)</sup> | Angel Oak Mortgage Trust LLC, Series 2020-5, Class A3, 2.04%, 05/25/2065 <sup>(a)(b)</sup> | 8840 | 8536 |
|  ARDN 2025-ARCP Mortgage Trust, Series 2025-ARCP, Class A, 5.90% (1 mo. Term SOFR + 1.75%), 06/15/2035, (1.75% Floor) <sup>(a)</sup> | ARDN 2025-ARCP Mortgage Trust, Series 2025-ARCP, Class A, 5.90% (1 mo. Term SOFR + 1.75%), 06/15/2035, (1.75% Floor) <sup>(a)</sup> | 1000000 | 999787 |
|  BANK-2022, Series 2022-BNK39, Class A1, 1.74%, 02/15/2055 | BANK-2022, Series 2022-BNK39, Class A1, 1.74%, 02/15/2055 | 199817 | 196325 |
|  BLP Commercial Mortgage Trust, Series 2024-IND2, Class B, 5.84% (1 mo. Term SOFR + 1.69%), 03/15/2041, (1.69% Floor) <sup>(a)</sup> | BLP Commercial Mortgage Trust, Series 2024-IND2, Class B, 5.84% (1 mo. Term SOFR + 1.69%), 03/15/2041, (1.69% Floor) <sup>(a)</sup> | 502879 | 503193 |
| BX Trust | BX Trust | BX Trust | BX Trust |
| &nbsp;&nbsp; Series 2022-VAMF, Class B, 5.43% (1 mo. Term SOFR + 1.28%), 01/15/2039, (1.28% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2022-VAMF, Class B, 5.43% (1 mo. Term SOFR + 1.28%), 01/15/2039, (1.28% Floor) <sup>(a)</sup> | 250000 | 249609 |
| &nbsp;&nbsp; Series 2023-DELC, Class A, 6.84% (1 mo. Term SOFR + 2.69%), 05/15/2038, (2.69% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2023-DELC, Class A, 6.84% (1 mo. Term SOFR + 2.69%), 05/15/2038, (2.69% Floor) <sup>(a)</sup> | 330000 | 332058 |
| &nbsp;&nbsp; Series 2024-XL5, Class A, 5.54% (1 mo. Term SOFR + 1.39%), 03/15/2041, (1.39% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2024-XL5, Class A, 5.54% (1 mo. Term SOFR + 1.39%), 03/15/2041, (1.39% Floor) <sup>(a)</sup> | 1056765 | 1057426 |
|  DK Trust, Series 2025-LXP, Class A, 5.74% (1 mo. Term SOFR + 1.59%), 08/15/2037, (1.59% Floor) <sup>(a)</sup> | DK Trust, Series 2025-LXP, Class A, 5.74% (1 mo. Term SOFR + 1.59%), 08/15/2037, (1.59% Floor) <sup>(a)</sup> | 925000 | 925000 |
|  ELP Commercial Mortgage Trust, Series 2021-ELP, Class B, 5.39% (1 mo. Term SOFR + 1.23%), 11/15/2038, (1.12% Floor) <sup>(a)</sup> | ELP Commercial Mortgage Trust, Series 2021-ELP, Class B, 5.39% (1 mo. Term SOFR + 1.23%), 11/15/2038, (1.12% Floor) <sup>(a)</sup> | 942150 | 941267 |
| Fannie Mae Connecticut Avenue Securities | Fannie Mae Connecticut Avenue Securities | Fannie Mae Connecticut Avenue Securities | Fannie Mae Connecticut Avenue Securities |
| &nbsp;&nbsp; Series 2022-R03, Class 1M2, 7.86% (30 day avg SOFR US + 3.50%), 03/25/2042, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2022-R03, Class 1M2, 7.86% (30 day avg SOFR US + 3.50%), 03/25/2042, (0.00% Floor) <sup>(a)</sup> | 1470000 | 1516393 |
| &nbsp;&nbsp; Series 2022-R04, Class 1M2, 7.46% (30 day avg SOFR US + 3.10%), 03/25/2042, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2022-R04, Class 1M2, 7.46% (30 day avg SOFR US + 3.10%), 03/25/2042, (0.00% Floor) <sup>(a)</sup> | 1150000 | 1181441 |
| &nbsp;&nbsp; Series 2022-R05, Class 2M2, 7.36% (30 day avg SOFR US + 3.00%), 04/25/2042, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2022-R05, Class 2M2, 7.36% (30 day avg SOFR US + 3.00%), 04/25/2042, (0.00% Floor) <sup>(a)</sup> | 35000 | 35936 |
| &nbsp;&nbsp; Series 2022-R06, Class 1M2, 8.21% (30 day avg SOFR US + 3.85%), 05/25/2042, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2022-R06, Class 1M2, 8.21% (30 day avg SOFR US + 3.85%), 05/25/2042, (0.00% Floor) <sup>(a)</sup> | 605000 | 629354 |
| &nbsp;&nbsp; Series 2022-R07, Class 1M2, 9.01% (30 day avg SOFR US + 4.65%), 06/25/2042, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2022-R07, Class 1M2, 9.01% (30 day avg SOFR US + 4.65%), 06/25/2042, (0.00% Floor) <sup>(a)</sup> | 1050000 | 1110624 |
| &nbsp;&nbsp; Series 2022-R08, Class 1M2, 7.96% (30 day avg SOFR US + 3.60%), 07/25/2042, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2022-R08, Class 1M2, 7.96% (30 day avg SOFR US + 3.60%), 07/25/2042, (0.00% Floor) <sup>(a)</sup> | 1930000 | 2007200 |
| &nbsp;&nbsp; Series 2023-R01, Class 1M2, 8.11% (30 day avg SOFR US + 3.75%), 12/25/2042, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2023-R01, Class 1M2, 8.11% (30 day avg SOFR US + 3.75%), 12/25/2042, (0.00% Floor) <sup>(a)</sup> | 865000 | 908250 |
| &nbsp;&nbsp; Series 2023-R02, Class 1M2, 7.71% (30 day avg SOFR US + 3.35%), 01/25/2043, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2023-R02, Class 1M2, 7.71% (30 day avg SOFR US + 3.35%), 01/25/2043, (0.00% Floor) <sup>(a)</sup> | 1445000 | 1508219 |
| &nbsp;&nbsp; Series 2023-R04, Class 1M2, 7.91% (30 day avg SOFR US + 3.55%), 05/25/2043, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2023-R04, Class 1M2, 7.91% (30 day avg SOFR US + 3.55%), 05/25/2043, (0.00% Floor) <sup>(a)</sup> | 600000 | 632628 |
| &nbsp;&nbsp; Series 2023-R05, Class 1M2, 7.46% (30 day avg SOFR US + 3.10%), 06/25/2043, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2023-R05, Class 1M2, 7.46% (30 day avg SOFR US + 3.10%), 06/25/2043, (0.00% Floor) <sup>(a)</sup> | 550000 | 571313 |
| &nbsp;&nbsp; Series 2023-R06, Class 1M2, 7.06% (30 day avg SOFR US + 2.70%), 07/25/2043, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2023-R06, Class 1M2, 7.06% (30 day avg SOFR US + 2.70%), 07/25/2043, (0.00% Floor) <sup>(a)</sup> | 2050000 | 2118175 |
| &nbsp;&nbsp; Series 2023-R08, Class 1M2, 6.86% (30 day avg SOFR US + 2.50%), 10/25/2043, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2023-R08, Class 1M2, 6.86% (30 day avg SOFR US + 2.50%), 10/25/2043, (0.00% Floor) <sup>(a)</sup> | 380000 | 389910 |
| &nbsp;&nbsp; Series 2024-R02, Class 1M2, 6.16% (30 day avg SOFR US + 1.80%), 02/25/2044, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2024-R02, Class 1M2, 6.16% (30 day avg SOFR US + 1.80%), 02/25/2044, (0.00% Floor) <sup>(a)</sup> | 210000 | 211727 |
| Freddie Mac Structured Agency Credit Risk Debt Notes | Freddie Mac Structured Agency Credit Risk Debt Notes | Freddie Mac Structured Agency Credit Risk Debt Notes | Freddie Mac Structured Agency Credit Risk Debt Notes |
| &nbsp;&nbsp; Series 2023-DNA1, Class M1B, 7.45% (30 day avg SOFR US + 3.10%), 03/25/2043, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2023-DNA1, Class M1B, 7.45% (30 day avg SOFR US + 3.10%), 03/25/2043, (0.00% Floor) <sup>(a)</sup> | 745000 | 774186 |
| &nbsp;&nbsp; Series 2023-DNA2, Class M1B, 7.60% (30 day avg SOFR US + 3.25%), 04/25/2043, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2023-DNA2, Class M1B, 7.60% (30 day avg SOFR US + 3.25%), 04/25/2043, (0.00% Floor) <sup>(a)</sup> | 1605000 | 1679890 |
| &nbsp;&nbsp; Series 2023-HQA1, Class M1B, 7.86% (30 day avg SOFR US + 3.50%), 05/25/2043, (0.00% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2023-HQA1, Class M1B, 7.86% (30 day avg SOFR US + 3.50%), 05/25/2043, (0.00% Floor) <sup>(a)</sup> | 890000 | 938406 |
|  JPMBB Commercial Mortgage Securities Trust, Series 2014-C22, Class AS, 4.11%, 09/15/2047 | JPMBB Commercial Mortgage Securities Trust, Series 2014-C22, Class AS, 4.11%, 09/15/2047 | 345851 | 340664 |
|  KSL Commercial Mortgage Trust, Series 2024-HT2, Class A, 5.69% (1 mo. Term SOFR + 1.54%), 12/15/2039, (1.54% Floor) <sup>(a)</sup> | KSL Commercial Mortgage Trust, Series 2024-HT2, Class A, 5.69% (1 mo. Term SOFR + 1.54%), 12/15/2039, (1.54% Floor) <sup>(a)</sup> | 1952470 | 1951858 |
|  MTN Commercial Mortgage Trust, Series 2022-LPFL, Class A, 5.56% (1 mo. Term SOFR + 1.40%), 03/15/2039, (1.40% Floor) <sup>(a)</sup> | MTN Commercial Mortgage Trust, Series 2022-LPFL, Class A, 5.56% (1 mo. Term SOFR + 1.40%), 03/15/2039, (1.40% Floor) <sup>(a)</sup> | 1500000 | 1499531 |
| NRTH PARK Mortgage Trust | NRTH PARK Mortgage Trust | NRTH PARK Mortgage Trust | NRTH PARK Mortgage Trust |
| &nbsp;&nbsp; Series 2024-PARK, Class A, 5.79% (1 mo. Term SOFR + 1.64%), 03/15/2039, (1.64% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2024-PARK, Class A, 5.79% (1 mo. Term SOFR + 1.64%), 03/15/2039, (1.64% Floor) <sup>(a)</sup> | 1100000 | 1097589 |
| &nbsp;&nbsp; Series 2025-PARK, Class A, 5.54% (1 mo. Term SOFR + 1.39%), 10/15/2040, (1.39% Floor) <sup>(a)</sup> | &nbsp;&nbsp; Series 2025-PARK, Class A, 5.54% (1 mo. Term SOFR + 1.39%), 10/15/2040, (1.39% Floor) <sup>(a)</sup> | 1300000 | 1296750 |
|  NYC Commercial Mortgage Trust, Series 2024-3ELV, Class A, 6.14% (1 mo. Term SOFR + 1.99%), 08/15/2029, (1.99% Floor) <sup>(a)</sup> | NYC Commercial Mortgage Trust, Series 2024-3ELV, Class A, 6.14% (1 mo. Term SOFR + 1.99%), 08/15/2029, (1.99% Floor) <sup>(a)</sup> | 1875000 | 1879691 |
|  PKHL Commercial Mortgage Trust, Series 2021-MF, Class A, 5.15% (1 mo. Term SOFR + 0.99%), 07/15/2038, (0.88% Floor) <sup>(a)</sup> | PKHL Commercial Mortgage Trust, Series 2021-MF, Class A, 5.15% (1 mo. Term SOFR + 0.99%), 07/15/2038, (0.88% Floor) <sup>(a)</sup> | 1000000 | 939465 |
|  SCG Mortgage Trust, Series 2025-SNIP, Class A, 5.75% (1 mo. Term SOFR + 1.50%), 09/15/2030, (1.50% Floor) <sup>(a)</sup> | SCG Mortgage Trust, Series 2025-SNIP, Class A, 5.75% (1 mo. Term SOFR + 1.50%), 09/15/2030, (1.50% Floor) <sup>(a)</sup> | 1500000 | 1500940 |
|  SMR Mortgage Trust, Series 2022-IND, Class A, 5.80% (1 mo. Term SOFR + 1.65%), 02/15/2039, (1.65% Floor) <sup>(a)</sup> | SMR Mortgage Trust, Series 2022-IND, Class A, 5.80% (1 mo. Term SOFR + 1.65%), 02/15/2039, (1.65% Floor) <sup>(a)</sup> | 1144596 | 1144128 |
| **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $33,774,440) | **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $33,774,440) | **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $33,774,440) | 33658719 |
| **ASSET-BACKED SECURITIES - 9.5%** | **ASSET-BACKED SECURITIES - 9.5%** | **Par** | **Value**  |
|  American Express Travel Related Services Co., Inc., Series 2024-1, Class A, 5.23%, 04/15/2029 | American Express Travel Related Services Co., Inc., Series 2024-1, Class A, 5.23%, 04/15/2029 | 1870000 | 1908804 |
|  Avis Budget Car Rental LLC, Series 2023-2A, Class A, 5.20%, 10/20/2027 <sup>(a)</sup> | Avis Budget Car Rental LLC, Series 2023-2A, Class A, 5.20%, 10/20/2027 <sup>(a)</sup> | 200000 | 201707 |
|  CarMax Auto Owner Trust, Series 2024-4, Class A3, 4.60%, 10/15/2029 | CarMax Auto Owner Trust, Series 2024-4, Class A3, 4.60%, 10/15/2029 | 2450000 | 2475873 |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust | Carvana Auto Receivables Trust | Carvana Auto Receivables Trust |
| &nbsp;&nbsp; Series 2022-P3, Class A3, 4.61%, 11/10/2027 | &nbsp;&nbsp; Series 2022-P3, Class A3, 4.61%, 11/10/2027 | 532926 | 533375 |
| &nbsp;&nbsp; Series 2024-P4, Class A3, 4.64%, 01/10/2030 | &nbsp;&nbsp; Series 2024-P4, Class A3, 4.64%, 01/10/2030 | 400000 | 402444 |
|  CNH Equipment Trust, Series 2024-C, Class A3, 4.03%, 01/15/2030 | CNH Equipment Trust, Series 2024-C, Class A3, 4.03%, 01/15/2030 | 1000000 | 1002110 |
|  DB Master Finance Parent LLC, Series 2021-1A, Class A2I, 2.05%, 11/20/2051 <sup>(a)</sup> | DB Master Finance Parent LLC, Series 2021-1A, Class A2I, 2.05%, 11/20/2051 <sup>(a)</sup> | 625625 | 609026 |
| Financial Holding Corp. | Financial Holding Corp. | Financial Holding Corp. | Financial Holding Corp. |
| &nbsp;&nbsp; Series 2024-B, Class A, 4.95%, 02/15/2029 <sup>(a)</sup> | &nbsp;&nbsp; Series 2024-B, Class A, 4.95%, 02/15/2029 <sup>(a)</sup> | 500000 | 505958 |
| &nbsp;&nbsp; Series 2024-D, Class A, 5.34%, 04/15/2029 <sup>(a)</sup> | &nbsp;&nbsp; Series 2024-D, Class A, 5.34%, 04/15/2029 <sup>(a)</sup> | 1240000 | 1265753 |
| Ford Credit Auto Owner Trust | Ford Credit Auto Owner Trust | Ford Credit Auto Owner Trust | Ford Credit Auto Owner Trust |
| &nbsp;&nbsp; Series 2024-A, Class A3, 5.09%, 12/15/2028 | &nbsp;&nbsp; Series 2024-A, Class A3, 5.09%, 12/15/2028 | 1175000 | 1187759 |
| &nbsp;&nbsp; Series 2024-C, Class A3, 4.07%, 07/15/2029 | &nbsp;&nbsp; Series 2024-C, Class A3, 4.07%, 07/15/2029 | 2450000 | 2457087 |
| &nbsp;&nbsp; Series 2024-D, Class A3, 4.61%, 08/15/2029 | &nbsp;&nbsp; Series 2024-D, Class A3, 4.61%, 08/15/2029 | 750000 | 758865 |
| GM Financial Consumer Automobile Receivables Trust | GM Financial Consumer Automobile Receivables Trust | GM Financial Consumer Automobile Receivables Trust | GM Financial Consumer Automobile Receivables Trust |
| &nbsp;&nbsp; Series 2023-4, Class A3, 5.78%, 08/16/2028 | &nbsp;&nbsp; Series 2023-4, Class A3, 5.78%, 08/16/2028 | 1206425 | 1219456 |
| &nbsp;&nbsp; Series 2024-2, Class A3, 5.10%, 03/16/2029 | &nbsp;&nbsp; Series 2024-2, Class A3, 5.10%, 03/16/2029 | 825000 | 832645 |
|  GM Financial Leasing Trust, Series 2024-2, Class A3, 5.39%, 07/20/2027 | GM Financial Leasing Trust, Series 2024-2, Class A3, 5.39%, 07/20/2027 | 2280000 | 2296014 |
| Hilton Grand Vacations, Inc. | Hilton Grand Vacations, Inc. | Hilton Grand Vacations, Inc. | Hilton Grand Vacations, Inc. |
| &nbsp;&nbsp; Series 2019-AA, Class A, 2.34%, 07/25/2033 <sup>(a)</sup> | &nbsp;&nbsp; Series 2019-AA, Class A, 2.34%, 07/25/2033 <sup>(a)</sup> | 113403 | 112509 |
| &nbsp;&nbsp; Series 2023-1A, Class A, 5.72%, 01/25/2038 <sup>(a)</sup> | &nbsp;&nbsp; Series 2023-1A, Class A, 5.72%, 01/25/2038 <sup>(a)</sup> | 58450 | 59731 |
| &nbsp;&nbsp; Series 2024-2A, Class A, 5.50%, 03/25/2038 <sup>(a)</sup> | &nbsp;&nbsp; Series 2024-2A, Class A, 5.50%, 03/25/2038 <sup>(a)</sup> | 301467 | 305213 |
|  Honda Auto Receivables Owner Trust, Series 2024-1, Class A3, 5.21%, 08/15/2028 | Honda Auto Receivables Owner Trust, Series 2024-1, Class A3, 5.21%, 08/15/2028 | 934590 | 943322 |
| MVW Owner Trust | MVW Owner Trust | MVW Owner Trust | MVW Owner Trust |
| &nbsp;&nbsp; Series 2024-1A, Class A, 5.32%, 02/20/2043 <sup>(a)</sup> | &nbsp;&nbsp; Series 2024-1A, Class A, 5.32%, 02/20/2043 <sup>(a)</sup> | 1815040 | 1848856 |
| &nbsp;&nbsp; Series 2025-1A, Class A, 4.97%, 09/22/2042 <sup>(a)</sup> | &nbsp;&nbsp; Series 2025-1A, Class A, 4.97%, 09/22/2042 <sup>(a)</sup> | 516217 | 522852 |
|  Planet Fitness SPV Guarantor LLC, Series 2022-1A, Class A2I, 3.25%, 12/05/2051 <sup>(a)</sup> | Planet Fitness SPV Guarantor LLC, Series 2022-1A, Class A2I, 3.25%, 12/05/2051 <sup>(a)</sup> | 772000 | 758405 |
|  Sierra Timeshare Conduit Receivables Funding LLC, Series 2023-2A, Class A, 5.80%, 04/20/2040 <sup>(a)</sup> | Sierra Timeshare Conduit Receivables Funding LLC, Series 2023-2A, Class A, 5.80%, 04/20/2040 <sup>(a)</sup> | 99438 | 101707 |
|  Taco Bell Corp., Series 2021-1A, Class A2I, 1.95%, 08/25/2051 <sup>(a)</sup> | Taco Bell Corp., Series 2021-1A, Class A2I, 1.95%, 08/25/2051 <sup>(a)</sup> | 1007063 | 972671 |
|  T-Mobile US Trust, Series 2024-1A, Class A, 5.05%, 09/20/2029 <sup>(a)</sup> | T-Mobile US Trust, Series 2024-1A, Class A, 5.05%, 09/20/2029 <sup>(a)</sup> | 610000 | 615741 |
|  Toyota Auto Receivables Owner Trust, Series 2024-B, Class A3, 5.33%, 01/16/2029 | Toyota Auto Receivables Owner Trust, Series 2024-B, Class A3, 5.33%, 01/16/2029 | 2850000 | 2894631 |
|  Toyota Lease Owner Trust, Series 2024-A, Class A3, 5.25%, 04/20/2027 <sup>(a)</sup> | Toyota Lease Owner Trust, Series 2024-A, Class A3, 5.25%, 04/20/2027 <sup>(a)</sup> | 209251 | 210252 |
|  Volkswagen Auto Lease Trust, Series 2024-A, Class A3, 5.21%, 06/21/2027 | Volkswagen Auto Lease Trust, Series 2024-A, Class A3, 5.21%, 06/21/2027 | 1300000 | 1311600 |
| **TOTAL ASSET-BACKED SECURITIES** (Cost $28,078,122) | **TOTAL ASSET-BACKED SECURITIES** (Cost $28,078,122) | **TOTAL ASSET-BACKED SECURITIES** (Cost $28,078,122) | 28314366 |
| **U.S. GOVERNMENT AGENCY ISSUES - 3.8%** | **U.S. GOVERNMENT AGENCY ISSUES - 3.8%** | **Par** | **Value**  |
| Federal Home Loan Banks | Federal Home Loan Banks | Federal Home Loan Banks | Federal Home Loan Banks |
| &nbsp;&nbsp; 0.60%, 02/12/2026 | &nbsp;&nbsp; 0.60%, 02/12/2026 | 1990000 | 1965449 |
| &nbsp;&nbsp; 1.00%, 03/23/2026 | &nbsp;&nbsp; 1.00%, 03/23/2026 | 1950000 | 1923941 |
| &nbsp;&nbsp; 4.00%, 03/10/2027 | &nbsp;&nbsp; 4.00%, 03/10/2027 | 1500000 | 1507327 |
| &nbsp;&nbsp; 1.10%, 02/25/2028 | &nbsp;&nbsp; 1.10%, 02/25/2028 | 2365000 | 2216132 |
|  Federal National Mortgage Association, 0.75%, 10/08/2027 | Federal National Mortgage Association, 0.75%, 10/08/2027 | 3825000 | 3612134 |
| **TOTAL U.S. GOVERNMENT AGENCY ISSUES** (Cost $11,119,043) | **TOTAL U.S. GOVERNMENT AGENCY ISSUES** (Cost $11,119,043) | **TOTAL U.S. GOVERNMENT AGENCY ISSUES** (Cost $11,119,043) | 11224983 |
| **TOTAL INVESTMENTS - 77.3% (**Cost $226,474,121**)** | **TOTAL INVESTMENTS - 77.3% (**Cost $226,474,121**)** | **TOTAL INVESTMENTS - 77.3% (**Cost $226,474,121**)** | $228971964 |
| Money Market Deposit Account - 5.0% <sup>(c)(d)</sup> | Money Market Deposit Account - 5.0% <sup>(c)(d)</sup> | Money Market Deposit Account - 5.0% <sup>(c)(d)</sup> | 14799598 |
| Other Assets in Excess of Liabilities - 17.7%<sup>(e)</sup> | Other Assets in Excess of Liabilities - 17.7%<sup>(e)</sup> | Other Assets in Excess of Liabilities - 17.7%<sup>(e)</sup> | 52539913 |
| **TOTAL NET ASSETS - 100.0%** | 0.0% | 0.0% | $296311475 |
| two | two | two | –% |
| Par amount is in USD unless otherwise indicated. | Par amount is in USD unless otherwise indicated. | Par amount is in USD unless otherwise indicated. |  |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

---

| |
|:---|
| CMT - Constant Maturity Treasury |
| LLC - Limited Liability Company |
| LP - Limited Partnership |
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust |
| SOFR - Secured Overnight Financing Rate |

---

(a) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified
 institutional investors. As of September 30, 2025, the value of these securities total $51,888,598 or 17.5% of the Fund's net assets.

(b) Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral
 increases or decreases, the coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of September 30, 2025.

(c) The U.S. Bank Money Market Deposit Account (the "MMDA") is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on
 market conditions and is subject to change daily. The rate as of September 30, 2025 was 3.95%.

(d) A portion of this deposit account is pledged as collateral for derivative contracts. As of the reporting date, the value of this collateral totals $426,925.

(e) Includes assets pledged as collateral for derivative contracts. As of the reporting date, the value of these assets totals $52,311,407.

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LoCorr Market Trend Fund** | **LoCorr Market Trend Fund** | **LoCorr Market Trend Fund** | **LoCorr Market Trend Fund** | **LoCorr Market Trend Fund** |
| **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **Description** | **Contracts**<br> **Purchased** | **Expiration Date** | **Notional Value** | **Value / Unrealized**<br> **Appreciation**<br> (Depreciation) |
| &nbsp;&nbsp;&nbsp;&nbsp;3 Month Euribor | 592 | 12/14/2026 | $170241268 | $(226095) |
| &nbsp;&nbsp;&nbsp;&nbsp;3-Month Secured Overnight Financing Rate | 1207 | 03/16/2027 | 292410838 | (57278) |
| &nbsp;&nbsp;&nbsp;&nbsp;Arabica Coffee | 50 | 12/18/2025 | 7028437 | 259306 |
| &nbsp;&nbsp;&nbsp;&nbsp;Australian Government 10 Year Bonds | 397 | 12/15/2025 | 29776877 | (141463) |
| &nbsp;&nbsp;&nbsp;&nbsp;Brent Crude Oil | 138 | 10/31/2025 | 9112140 | (123835) |
| &nbsp;&nbsp;&nbsp;&nbsp;CAC40 10 Euro Index | 158 | 10/17/2025 | 14645260 | 174663 |
| &nbsp;&nbsp;&nbsp;&nbsp;Canadian 10 Year Government Bonds | 418 | 12/18/2025 | 36781117 | 43785 |
| &nbsp;&nbsp;&nbsp;&nbsp;Crude Oil | 71 | 10/21/2025 | 4428270 | (80975) |
| &nbsp;&nbsp;&nbsp;&nbsp;Crude Soybean Oil | 71 | 12/12/2025 | 2108274 | (239391) |
| &nbsp;&nbsp;&nbsp;&nbsp;Dow Jones Industrial Average Index | 134 | 12/19/2025 | 31281630 | 277721 |
| &nbsp;&nbsp;&nbsp;&nbsp;Euro STOXX 50 Quanto Index | 300 | 12/19/2025 | 19516290 | 333477 |
| &nbsp;&nbsp;&nbsp;&nbsp;FTSE 100 Index | 481 | 12/19/2025 | 60856802 | 796825 |
| &nbsp;&nbsp;&nbsp;&nbsp;German Stock Index | 26 | 12/19/2025 | 18323628 | 211163 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gold | 85 | 12/29/2025 | 32922200 | 3463021 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hang Seng Index | 124 | 10/30/2025 | 21441207 | 263280 |
| &nbsp;&nbsp;&nbsp;&nbsp;ICE 3 Month SONIA Rate | 121 | 03/16/2027 | 39216579 | (15374) |
| &nbsp;&nbsp;&nbsp;&nbsp;London Metals - Aluminum<sup>(a)</sup> | 78 | 12/15/2025 | 5227735 | 127320 |
| &nbsp;&nbsp;&nbsp;&nbsp;London Metals - Copper<sup>(a)</sup> | 66 | 12/15/2025 | 16947859 | 746261 |
| &nbsp;&nbsp;&nbsp;&nbsp;London Metals - Zinc<sup>(a)</sup> | 50 | 12/15/2025 | 3711425 | 146353 |
| &nbsp;&nbsp;&nbsp;&nbsp;Low Sulphur Gas Oil | 247 | 11/12/2025 | 16968900 | 132371 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nasdaq 100 Index | 82 | 12/19/2025 | 40838870 | 620754 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nikkei 225 Index | 91 | 12/11/2025 | 27684282 | 716578 |
| &nbsp;&nbsp;&nbsp;&nbsp;NY Harbor ULSD | 138 | 10/31/2025 | 13470484 | 45645 |
| &nbsp;&nbsp;&nbsp;&nbsp;Reformulated Gasoline Blendstock | 138 | 10/31/2025 | 11141651 | (86990) |
| &nbsp;&nbsp;&nbsp;&nbsp;Russell 2000 Index | 152 | 12/19/2025 | 18661800 | 197397 |
| &nbsp;&nbsp;&nbsp;&nbsp;S&P 500 Index | 150 | 12/19/2025 | 50540625 | 559901 |
| &nbsp;&nbsp;&nbsp;&nbsp;Silver | 77 | 12/29/2025 | 17956400 | 2694081 |
| &nbsp;&nbsp;&nbsp;&nbsp;TOPIX Index | 168 | 12/11/2025 | 35682321 | 313328 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 10 Year Notes | 472 | 12/19/2025 | 53100000 | (196168) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 2 Year Notes | 350 | 12/31/2025 | 72939453 | (146708) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 5 Year Note | 837 | 12/31/2025 | 91396477 | (261214) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Long Bonds | 70 | 12/19/2025 | 8161562 | (51779) |
|  |  |  |  | $10495960 |
|  |  |  |  | – |
| **Description** | **Contracts**<br> **Sold** | **Expiration Date** | **Notional Value** | **Value / Unrealized**<br> **Appreciation**<br> (Depreciation) |
| &nbsp;&nbsp;&nbsp;&nbsp;10 Year Japanese Government Bonds | (16) | 12/12/2025 | $1468817 | $12808 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corn No. 2 Yellow | (480) | 12/12/2025 | 9972000 | 505785 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cotton No.2 | (74) | 12/08/2025 | 2433490 | 68041 |
| &nbsp;&nbsp;&nbsp;&nbsp;Dollar Index | (35) | 12/15/2025 | 3410785 | (3221) |
| &nbsp;&nbsp;&nbsp;&nbsp;Euro-BOBL | (376) | 12/08/2025 | 52006528 | (9877) |
| &nbsp;&nbsp;&nbsp;&nbsp;Euro-Bund | (286) | 12/08/2025 | 43171142 | (188278) |
| &nbsp;&nbsp;&nbsp;&nbsp;Euro-Schatz | (1472) | 12/08/2025 | 184883546 | 39890 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hard Red Winter Wheat | (147) | 12/12/2025 | 3658462 | 231712 |
| &nbsp;&nbsp;&nbsp;&nbsp;Japanese 10 Year Government Bonds | (72) | 12/15/2025 | 66111370 | 602851 |
| &nbsp;&nbsp;&nbsp;&nbsp;London Cocoa | (21) | 12/11/2025 | 1335889 | 181872 |
| &nbsp;&nbsp;&nbsp;&nbsp;London Metals - Aluminum<sup>(a)</sup> | (1) | 12/15/2025 | 67022 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;London Metals - Copper<sup>(a)</sup> | (1) | 12/15/2025 | 256786 | (8339) |
| &nbsp;&nbsp;&nbsp;&nbsp;London Metals - Zinc<sup>(a)</sup> | (3) | 12/15/2025 | 222685 | (11307) |
| &nbsp;&nbsp;&nbsp;&nbsp;Long Gilt | (188) | 12/29/2025 | 22968086 | (112247) |
| &nbsp;&nbsp;&nbsp;&nbsp;Natural Gas | (147) | 10/29/2025 | 4855410 | (24645) |
| &nbsp;&nbsp;&nbsp;&nbsp;Soybean Meal | (118) | 12/12/2025 | 3224940 | 281178 |
| &nbsp;&nbsp;&nbsp;&nbsp;Soybeans | (244) | 11/14/2025 | 12221350 | 189234 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sugar #11 | (244) | 02/27/2026 | 4536448 | (23613) |
| &nbsp;&nbsp;&nbsp;&nbsp;Wheat | (206) | 12/12/2025 | 5232400 | 827999 |
|  |  |  |  | $2559843 |
| **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | $13055803 |

---

(a) London Metal Exchange ("LME") futures contracts settle on their respective maturity date, and do not have daily cash movements like other futures contracts.

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **LoCorr Market Trend Fund** | **LoCorr Market Trend Fund** | **LoCorr Market Trend Fund** | **LoCorr Market Trend Fund** | **LoCorr Market Trend Fund** | **LoCorr Market Trend Fund** | **LoCorr Market Trend Fund** |
| **Consolidated Schedule of Forward Currency Contracts** | **Consolidated Schedule of Forward Currency Contracts** | **Consolidated Schedule of Forward Currency Contracts** | **Consolidated Schedule of Forward Currency Contracts** | **Consolidated Schedule of Forward Currency Contracts** | **Consolidated Schedule of Forward Currency Contracts** | **Consolidated Schedule of Forward Currency Contracts** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **Counterparty** | **Settlement Date** | **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Unrealized** <br> **Appreciation**<br> (Depreciation) |
| Bank of America | 10/01/2025 | AUD | 471000 | USD | 309872 | $1793 |
| Bank of America | 10/02/2025 | AUD | 700000 | USD | 462252 | 952 |
| Bank of America | 12/17/2025 | AUD | 38114000 | USD | 25343638 | (100104) |
| Bank of America | 10/01/2025 | CAD | 9245000 | USD | 6641850 | 1424 |
| Bank of America | 12/17/2025 | CAD | 5788000 | USD | 4220657 | (46139) |
| Bank of America | 10/01/2025 | CHF | 270000 | USD | 339163 | 53 |
| Bank of America | 10/02/2025 | CHF | 46000 | USD | 57780 | 20 |
| Bank of America | 12/17/2025 | CHF | 34449000 | USD | 43737420 | (49777) |
| Bank of America | 10/01/2025 | EUR | 564000 | USD | 661281 | 925 |
| Bank of America | 10/02/2025 | EUR | 562000 | USD | 659825 | 73 |
| Bank of America | 12/17/2025 | EUR | 46947000 | USD | 55344016 | 26762 |
| Bank of America | 10/01/2025 | GBP | 751000 | USD | 1009093 | 933 |
| Bank of America | 10/02/2025 | GBP | 31000 | USD | 41665 | 27 |
| Bank of America | 12/17/2025 | GBP | 37879000 | USD | 51373123 | (425154) |
| Bank of America | 10/01/2025 | JPY | 144890000 | USD | 975044 | 4807 |
| Bank of America | 10/02/2025 | JPY | 57656000 | USD | 389914 | 39 |
| Bank of America | 12/17/2025 | JPY | 564131000 | USD | 3867679 | (21602) |
| Bank of America | 10/01/2025 | MXN | 4975000 | USD | 271353 | 276 |
| Bank of America | 12/17/2025 | MXN | 371420000 | USD | 19796546 | 313583 |
| Bank of America | 10/01/2025 | NZD | 3275000 | USD | 1893409 | 5341 |
| Bank of America | 10/02/2025 | NZD | 3952000 | USD | 2291402 | (70) |
| Bank of America | 12/17/2025 | NZD | 14665000 | USD | 8771097 | (242475) |
| Bank of America | 10/01/2025 | USD | 309228 | AUD | 471000 | (2437) |
| Bank of America | 10/02/2025 | USD | 462941 | AUD | 700000 | (264) |
| Bank of America | 12/17/2025 | USD | 5820565 | AUD | 8845000 | (37625) |
| Bank of America | 10/01/2025 | USD | 6638696 | CAD | 9245000 | (4579) |
| Bank of America | 12/17/2025 | USD | 41678308 | CAD | 57535000 | 181949 |
| Bank of America | 10/01/2025 | USD | 338651 | CHF | 270000 | (565) |
| Bank of America | 10/02/2025 | USD | 57794 | CHF | 46000 | (5) |
| Bank of America | 12/17/2025 | USD | 2118706 | CHF | 1675000 | (5501) |
| Bank of America | 10/01/2025 | USD | 661474 | EUR | 564000 | (732) |
| Bank of America | 10/02/2025 | USD | 659690 | EUR | 562000 | (208) |
| Bank of America | 12/17/2025 | USD | 4643433 | EUR | 3938000 | (1169) |
| Bank of America | 10/01/2025 | USD | 1009394 | GBP | 751000 | (632) |
| Bank of America | 10/02/2025 | USD | 41685 | GBP | 31000 | (8) |
| Bank of America | 12/17/2025 | USD | 12340292 | GBP | 9188000 | (17742) |
| Bank of America | 10/01/2025 | USD | 974798 | JPY | 144890000 | (5054) |
| Bank of America | 10/02/2025 | USD | 389465 | JPY | 57656000 | (488) |
| Bank of America | 12/17/2025 | USD | 25855374 | JPY | 3781096000 | 76986 |
| Bank of America | 10/01/2025 | USD | 270991 | MXN | 4975000 | (638) |
| Bank of America | 12/17/2025 | USD | 186828 | MXN | 3480000 | (1593) |
| Bank of America | 10/01/2025 | USD | 1896320 | NZD | 3275000 | (2428) |
| Bank of America | 10/02/2025 | USD | 2291960 | NZD | 3952000 | 629 |
| Bank of America | 12/17/2025 | USD | 22242394 | NZD | 37790000 | 265127 |
| **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | $(85290) |
| AUD - Australian Dollars | AUD - Australian Dollars | AUD - Australian Dollars | AUD - Australian Dollars | AUD - Australian Dollars | AUD - Australian Dollars | AUD - Australian Dollars |
| CAD - Canadian Dollar | CAD - Canadian Dollar | CAD - Canadian Dollar | CAD - Canadian Dollar | CAD - Canadian Dollar | CAD - Canadian Dollar | CAD - Canadian Dollar |
| CHF - Swiss Franc | CHF - Swiss Franc | CHF - Swiss Franc | CHF - Swiss Franc | CHF - Swiss Franc | CHF - Swiss Franc | CHF - Swiss Franc |
| EUR - Euro | EUR - Euro | EUR - Euro | EUR - Euro | EUR - Euro | EUR - Euro | EUR - Euro |
| GBP - British Pound | GBP - British Pound | GBP - British Pound | GBP - British Pound | GBP - British Pound | GBP - British Pound | GBP - British Pound |
| JPY - Japanese Yen | JPY - Japanese Yen | JPY - Japanese Yen | JPY - Japanese Yen | JPY - Japanese Yen | JPY - Japanese Yen | JPY - Japanese Yen |
| MXN - Mexican Peso | MXN - Mexican Peso | MXN - Mexican Peso | MXN - Mexican Peso | MXN - Mexican Peso | MXN - Mexican Peso | MXN - Mexican Peso |
| NZD - New Zealand Dollar | NZD - New Zealand Dollar | NZD - New Zealand Dollar | NZD - New Zealand Dollar | NZD - New Zealand Dollar | NZD - New Zealand Dollar | NZD - New Zealand Dollar |
| USD - United States Dollar | USD - United States Dollar | USD - United States Dollar | USD - United States Dollar | USD - United States Dollar | USD - United States Dollar | USD - United States Dollar |

---

------

#### Summary of Fair Value Disclosure as of September 30, 2025 (Unaudited)
LoCorr Market Trend Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Securities | $– | $98019290 | $– | $98019290 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | – | 57754606 | – | 57754606 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Mortgage-Backed Securities | – | 33658719 | – | 33658719 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Asset-Backed Securities | – | 28314366 | – | 28314366 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government Agency Issues | – | 11224983 | – | 11224983 |
| Total Investments | $– | $228971964 | $– | $228971964 |
| <u>Other Financial Instruments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts\* | $15064600 | $– | $– | $15064600 |
| &nbsp;&nbsp;&nbsp;&nbsp;Forward Currency Contracts\* | – | 881699 | – | 881699 |
| Total Other Financial Instruments | $15064600 | $881699 | $– | $15946299 |
| **Liabilities:** |  |  |  |  |
| <u>Other Financial Instruments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts\* | $(2008797) | $– | $– | $(2008797) |
| &nbsp;&nbsp;&nbsp;&nbsp;Forward Currency Contracts\* | – | (966989) | – | (966989) |
| Total Other Financial Instruments | $(2008797) | $(966989) | $– | $(2975786) |
| \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of September 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of September 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of September 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of September 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of September 30, 2025. |
| Refer to the Consolidated Schedule of Investments for further disaggregation of investment categories. | Refer to the Consolidated Schedule of Investments for further disaggregation of investment categories. | Refer to the Consolidated Schedule of Investments for further disaggregation of investment categories. | Refer to the Consolidated Schedule of Investments for further disaggregation of investment categories. | Refer to the Consolidated Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** LoCorr Investment Trust

- **b. Investment Company Act file number:** 811-22509

- **c. CIK number of Registrant:** 0001506768

- **d. LEI of Registrant:** 54930075F5KEPQITLS33

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

  - **Street Address 1:** 687 Excelsior Blvd

  - **City:** Excelsior

  - **State:** MN

  - **Foreign country:** US

  - **Zip / Postal Code:** 55331

  - **Telephone number:** 952-767-2920

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

- **a. Name of Series:** LoCorr Market Trend Fund

- **b. EDGAR series identifier (if any):** S000045488

- **c. LEI of Series:** 549300697PUASVHG5W49

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

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

- **b. Date as of which information is reported:** 2025-09-30

**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:** $314051194.97

**Total Liabilities:** $17595547.51

**Net Assets:** $296455647.46

**Amount of Assets Invested in Other Investment Companies:** $11394979.71

**Delayed Delivery Securities:** $1296750.00

**Cash Not Reported:** $50710124.78

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -23977.360000000000 | **1-Year:** 36809.980000000000 | **5-Year:** 34824.840000000000 | **10-Year:** 269.360000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 20.930000000000 | **1-Year:** 53.290000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000141580 | -0.49%               | 2.17%                | 5.98%                |
| Class ID C000141581 | -0.52%               | 2.11%                | 5.89%                |
| Class ID C000141582 | -0.39%               | 2.17%                | 5.98%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $73374.37                | $-843188.68                                |
| Month 2  | $126568.20               | $1272469.84                                |
| Month 3  | $142236.17               | $-230762.54                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| UBS GROUP AG                   | UBS Group AG                                              | CUSIP: 225401BC1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    665000 | PA      | $681757.48    | 0.23%             | 2027-12-22      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| UBS AG STAMFORD CT             | UBS AG/Stamford CT                                        | CUSIP: 22550L2K6<br>LEI: 254900R882POXXVAK772 | Long             | DBT              | CORP              | CH        |    425000 | PA      | $432238.37    | 0.15%             | 2027-07-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRANE TECH FIN LTD             | Trane Technologies Financing Ltd                          | CUSIP: 456873AE8<br>LEI: 549300A5OEF3CJI2CO89 | Long             | DBT              | CORP              | IE        |    335000 | PA      | $333762.99    | 0.11%             | 2026-03-21      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC               | T-Mobile USA Inc                                          | CUSIP: 87264ADA0<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    495000 | PA      | $503943.30    | 0.17%             | 2028-07-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC               | T-Mobile USA Inc                                          | CUSIP: 87264ADE2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    960000 | PA      | $979497.74    | 0.33%             | 2029-01-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| T-Mobile US Trust              | T-Mobile US Trust 2024-1                                  | CUSIP: 87267RAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    610000 | PA      | $615741.50    | 0.21%             | 2029-09-20      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Taco Bell Funding, LLC         | Taco Bell Funding LLC                                     | CUSIP: 87342RAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1007062 | PA      | $972670.81    | 0.33%             | 2051-08-25      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner  | Toyota Auto Receivables 2024-B Owner Trust                | CUSIP: 89237NAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2850000 | PA      | $2894630.72   | 0.98%             | 2029-01-16      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Toyota Lease Owner Trust       | Toyota Lease Owner Trust 2024-A                           | CUSIP: 89238GAD3<br>LEI: 254900MVSB4M6HOIRE71 | Long             | ABS-O            | CORP              | US        |    209251 | PA      | $210252.44    | 0.07%             | 2027-04-20      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| US BANK MMDA - USBGFS 9        | US BANK MMDA - USBGFS 9                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |  15391905 | NS      | $15391905.25  | 5.19%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CDF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4925000 | PA      | $4603143.57   | 1.55%             | 2028-10-31      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CEV9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  17505000 | PA      | $17247211.57  | 5.82%             | 2029-06-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CFZ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4565000 | PA      | $4589964.84   | 1.55%             | 2027-11-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CGQ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  19860000 | PA      | $20095837.50  | 6.78%             | 2030-02-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CHM6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7275000 | PA      | $7315524.01   | 2.47%             | 2026-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CKD2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14880000 | PA      | $15165975.00  | 5.12%             | 2029-02-28      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CKJ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1430000 | PA      | $1447819.14   | 0.49%             | 2027-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC         | UnitedHealth Group Inc                                    | CUSIP: 91324PEU2<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1005000 | PA      | $1008074.74   | 0.34%             | 2029-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC         | UnitedHealth Group Inc                                    | CUSIP: 91324PFN7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    360000 | PA      | $363560.95    | 0.12%             | 2028-06-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                     | AbbVie Inc                                                | CUSIP: 00287YDS5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    290000 | PA      | $296653.94    | 0.10%             | 2029-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA       | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | CUSIP: 00774MBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1245000 | PA      | $1271788.80   | 0.43%             | 2027-01-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| ALEN 2021-ACEN Mortgage Trust  | Alen 2021-ACEN Mortgage Trust                             | CUSIP: 01449NAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $581250.00    | 0.20%             | 2034-04-15      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| AMCOR GROUP FINANCE            | Amcor Group Finance PLC                                   | CUSIP: 02344BAA4<br>LEI: 2549008XHB8M1L64J275 | Long             | DBT              | CORP              | GB        |    290000 | PA      | $299685.81    | 0.10%             | 2029-05-23      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| HALEON US CAPITAL LLC          | Haleon US Capital LLC                                     | CUSIP: 36264FAK7<br>LEI: 549300N8C3A3L0UVQB07 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1187686.09   | 0.40%             | 2027-03-24      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC        | Goldman Sachs Group Inc/The                               | CUSIP: 38141GA46<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    380000 | PA      | $404483.27    | 0.14%             | 2029-10-24      | Variable      | 6.48%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC        | Goldman Sachs Group Inc/The                               | CUSIP: 38141GC93<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    440000 | PA      | $454971.81    | 0.15%             | 2031-04-23      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| HCA INC                        | HCA Inc                                                   | CUSIP: 404119CY3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    395000 | PA      | $402327.97    | 0.14%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                            | SOYBEAN OIL FUTR  Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        77 | NC      | $-261528.10   | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US 5YR NOTE (CBT) Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       847 | NC      | $-260080.83   | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SUGAR #11 (WORLD) Mar26                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |      -244 | NC      | $-23612.83    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | TOPIX INDX FUTR   Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |       168 | NC      | $313328.20    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US 2YR NOTE (CBT) Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       365 | NC      | $-147198.02   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US 10YR NOTE (CBT)Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       471 | NC      | $-195978.87   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US LONG BOND(CBT) Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        52 | NC      | $-45411.35    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | CORN FUTURE       Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |      -480 | NC      | $505785.02    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | CAD/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-3335.66     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CAD/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $968.78       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CAD/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-46138.54    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CAD/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $182956.11    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CAC40 10 EURO FUT Oct25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | FR        |       155 | NC      | $173569.46    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | CHF/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-565.41      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CHF/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $53.23        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CHF/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-49776.99    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CHF/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-5457.31     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CAN 10YR BOND FUT Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | CA        |       418 | NC      | $43785.14     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | BRENT CRUDE FUTR  Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |       144 | NC      | $-123404.72   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | COTTON NO.2 FUTR  Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -74 | NC      | $68041.34     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | DJIA MINI e-CBOT  Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       131 | NC      | $276277.79    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | DOLLAR INDEX      Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       -35 | NC      | $-3220.75     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | DAX INDEX FUTURE  Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |        26 | NC      | $211163.43    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | COFFEE 'C' FUTURE Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        50 | NC      | $259306.50    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | COCOA FUTURE - IC Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |       -21 | NC      | $181872.25    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | E-Mini Russ 2000  Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       149 | NC      | $196658.09    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks                                   | CUSIP: 3130B5K64<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |   1500000 | PA      | $1507327.44   | 0.51%             | 2027-03-10      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO       | Florida Power & Light Co                                  | CUSIP: 341081GK7<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    715000 | PA      | $733759.91    | 0.25%             | 2028-04-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO       | Florida Power & Light Co                                  | CUSIP: 341081GN1<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    920000 | PA      | $930554.41    | 0.31%             | 2028-05-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust   | Ford Credit Auto Owner Trust 2024-C                       | CUSIP: 34532UAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2450000 | PA      | $2457087.36   | 0.83%             | 2029-07-15      | Fixed         | 4.07%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust   | Ford Credit Auto Owner Trust 2024-A                       | CUSIP: 34535EAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1175000 | PA      | $1187758.74   | 0.40%             | 2028-12-15      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| N/A                            | AUD/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-2436.87     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | 3MO EURO EURIBOR  Dec26                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |       662 | NC      | $-247149.19   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | 3 MONTH SOFR FUT  Dec26                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      1275 | NC      | $-18524.20    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Ford Credit Auto Owner Trust   | Ford Credit Auto Owner Trust 2024-D                       | CUSIP: 34535VAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $758864.63    | 0.26%             | 2029-08-15      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR            | Freddie Mac STACR REMIC Trust 2023-DNA1                   | CUSIP: 35564KP45<br>LEI: 5493000IRILHAKSCHN59 | Long             | ABS-MBS          | CORP              | US        |    745000 | PA      | $774186.12    | 0.26%             | 2043-03-25      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR            | Freddie Mac STACR REMIC Trust 2023-DNA2                   | CUSIP: 35564KT66<br>LEI: 5493000IRI80KQJUNK40 | Long             | ABS-MBS          | CORP              | US        |   1605000 | PA      | $1679890.10   | 0.57%             | 2043-04-25      | Floating      | 7.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR            | Freddie Mac STACR REMIC Trust 2023-HQA1                   | CUSIP: 35564KX87<br>LEI: 5493000IRHY5YZIPQD14 | Long             | ABS-MBS          | CORP              | US        |    890000 | PA      | $938406.03    | 0.32%             | 2043-05-25      | Floating      | 7.86%                 | No            |                  2 | On Loan: No      |
| American Express Credit Accoun | American Express Credit Account Master Trust              | CUSIP: 02582JKH2<br>LEI: 549300Y4SA5G3GIJTP18 | Long             | ABS-O            | CORP              | US        |   1870000 | PA      | $1908804.37   | 0.64%             | 2029-04-15      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT          | American Homes 4 Rent LP                                  | CUSIP: 02666TAB3<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |    305000 | PA      | $310304.22    | 0.10%             | 2029-02-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                      | Amgen Inc                                                 | CUSIP: 031162DP2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    735000 | PA      | $752304.65    | 0.25%             | 2028-03-02      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust       | Angel Oak Mortgage Trust 2020-5                           | CUSIP: 03464WAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8840 | PA      | $8536.16      | 0.00%             | 2065-05-25      | Variable      | 2.04%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                | CVS Health Corp                                           | CUSIP: 126650CU2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1195000 | PA      | $1183935.69   | 0.40%             | 2026-06-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                | CVS Health Corp                                           | CUSIP: 126650DW7<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    700000 | PA      | $713742.26    | 0.24%             | 2029-01-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2024-P4                    | CUSIP: 14076LAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $402444.00    | 0.14%             | 2030-01-10      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                  | Citigroup Inc                                             | CUSIP: 172967QF1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    650000 | PA      | $650412.02    | 0.22%             | 2031-09-11      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                    | Citibank NA                                               | CUSIP: 17325FBN7<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1109936.62   | 0.37%             | 2027-05-29      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| CNH Equipment Trust            | CNH Equipment Trust 2024-C                                | CUSIP: 18978GAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1002109.80   | 0.34%             | 2030-01-15      | Fixed         | 4.03%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2022-R03              | CUSIP: 20753XAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1470000 | PA      | $1516393.20   | 0.51%             | 2042-03-25      | Floating      | 7.86%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2022-R04              | CUSIP: 20753YCK6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1150000 | PA      | $1181441.00   | 0.40%             | 2042-03-25      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2022-R05              | CUSIP: 20754DAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     35000 | PA      | $35936.11     | 0.01%             | 2042-04-25      | Floating      | 7.36%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2023-R06              | CUSIP: 20754EAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2050000 | PA      | $2118175.01   | 0.71%             | 2043-07-25      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2024-R02              | CUSIP: 20754GAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    210000 | PA      | $211727.29    | 0.07%             | 2044-02-25      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2022-R07              | CUSIP: 20754MCB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $1110623.43   | 0.37%             | 2042-06-25      | Floating      | 9.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2022-R06              | CUSIP: 20754NAK1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    605000 | PA      | $629354.28    | 0.21%             | 2042-05-25      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2023-R04              | CUSIP: 20754QAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $632628.00    | 0.21%             | 2043-05-25      | Floating      | 7.90%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2023-R02              | CUSIP: 20755AAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1445000 | PA      | $1508218.75   | 0.51%             | 2043-01-25      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2023-R08              | CUSIP: 20755CAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    380000 | PA      | $389910.06    | 0.13%             | 2043-10-25      | Floating      | 6.86%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2022-R08              | CUSIP: 20755DAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1930000 | PA      | $2007200.00   | 0.68%             | 2042-07-25      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2023-R01              | CUSIP: 207932AB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    865000 | PA      | $908250.00    | 0.31%             | 2042-12-25      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2023-R05              | CUSIP: 207942AB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $571312.50    | 0.19%             | 2043-06-25      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA             | Credit Agricole SA                                        | CUSIP: 22535WAR8<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $256584.56    | 0.09%             | 2031-05-27      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| DK Trust                       | DK Trust 2025-LXP                                         | CUSIP: 23292LAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    925000 | PA      | $925000.00    | 0.31%             | 2037-08-15      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| DB Master Finance LLC          | DB Master Finance LLC                                     | CUSIP: 233046AN1<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |    625625 | PA      | $609026.17    | 0.21%             | 2051-11-20      | Fixed         | 2.04%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY               | Deutsche Bank AG/New York NY                              | CUSIP: 251526CX5<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    265000 | PA      | $268861.09    | 0.09%             | 2030-09-11      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS          | Duke Energy Carolinas LLC                                 | CUSIP: 26442CBP8<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    630000 | PA      | $647379.78    | 0.22%             | 2030-03-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| ELP 2021-ELP                   | ELP Commercial Mortgage Trust 2021-ELP                    | CUSIP: 26863LAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    942150 | PA      | $941266.47    | 0.32%             | 2038-11-15      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| EMD FINANCE LLC                | EMD Finance LLC                                           | CUSIP: 26867LAN0<br>LEI: 529900C8KS5G529A0B76 | Long             | DBT              | CORP              | US        |    570000 | PA      | $570262.94    | 0.19%             | 2028-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                   | Enbridge Inc                                              | CUSIP: 29250NBX2<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    535000 | PA      | $562865.76    | 0.19%             | 2028-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP             | Energy Transfer LP                                        | CUSIP: 29273VAR1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1191902.35   | 0.40%             | 2026-12-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| ESSEX PORTFOLIO LP             | Essex Portfolio LP                                        | CUSIP: 29717PAY3<br>LEI: 5493003GN3O58H286O74 | Long             | DBT              | CORP              | US        |    295000 | PA      | $278375.81    | 0.09%             | 2028-03-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks                                   | CUSIP: 3130AKXQ4<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |   1990000 | PA      | $1965448.93   | 0.66%             | 2026-02-12      | Fixed         | 0.60%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks                                   | CUSIP: 3130ALBC7<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |   2365000 | PA      | $2216132.26   | 0.75%             | 2028-02-25      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks                                   | CUSIP: 3130ALGJ7<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |   1950000 | PA      | $1923941.00   | 0.65%             | 2026-03-23      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE                     | Federal National Mortgage Association                     | CUSIP: 3135G05Y5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGSE             | US        |   3825000 | PA      | $3612133.59   | 1.22%             | 2027-10-08      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| FED CAISSES DESJARDINS         | Federation des Caisses Desjardins du Quebec               | CUSIP: 31429KAK9<br>LEI: 549300B2Q47IR0CR5B54 | Long             | DBT              | CORP              | CA        |    645000 | PA      | $668666.53    | 0.23%             | 2028-03-14      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II        | GLP Capital LP / GLP Financing II Inc                     | CUSIP: 361841AK5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $226104.56    | 0.08%             | 2028-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II        | GLP Capital LP / GLP Financing II Inc                     | CUSIP: 361841AP4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    355000 | PA      | $343767.52    | 0.12%             | 2030-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GM Financial Automobile Leasin | GM Financial Automobile Leasing Trust 2024-2              | CUSIP: 36269WAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2280000 | PA      | $2296014.49   | 0.77%             | 2027-07-20      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| GENERAL MILLS INC              | General Mills Inc                                         | CUSIP: 370334DA9<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |    715000 | PA      | $730086.81    | 0.25%             | 2030-01-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO         | General Motors Financial Co Inc                           | CUSIP: 37045XFB7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    890000 | PA      | $911900.68    | 0.31%             | 2030-01-07      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobi | GM Financial Consumer Automobile Receivables Trust 2023-4 | CUSIP: 379930AD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1206425 | PA      | $1219456.11   | 0.41%             | 2028-08-16      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobi | GM Financial Consumer Automobile Receivables Trust 2024-2 | CUSIP: 379931AD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    825000 | PA      | $832644.78    | 0.28%             | 2029-03-16      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC              | HSBC Holdings PLC                                         | CUSIP: 404280DU0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    575000 | PA      | $599738.18    | 0.20%             | 2029-03-09      | Variable      | 6.16%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO               | Hewlett Packard Enterprise Co                             | CUSIP: 42824CBT5<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    655000 | PA      | $658685.45    | 0.22%             | 2029-10-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust   | Hilton Grand Vacations Trust 2024-2                       | CUSIP: 43283JAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    301467 | PA      | $305212.67    | 0.10%             | 2038-03-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust   | Hilton Grand Vacations Trust 2019-A                       | CUSIP: 43284HAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    113403 | PA      | $112509.43    | 0.04%             | 2033-07-25      | Fixed         | 2.34%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust   | Hilton Grand Vacations Trust 2023-1                       | CUSIP: 432917AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     58450 | PA      | $59730.69     | 0.02%             | 2038-01-25      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                 | Home Depot Inc/The                                        | CUSIP: 437076DB5<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    490000 | PA      | $498170.19    | 0.17%             | 2027-06-25      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner T | Honda Auto Receivables 2024-1 Owner Trust                 | CUSIP: 437918AC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    934590 | PA      | $943322.50    | 0.32%             | 2028-08-15      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL        | Honeywell International Inc                               | CUSIP: 438516CQ7<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |    285000 | PA      | $293165.14    | 0.10%             | 2029-09-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL        | Honeywell International Inc                               | CUSIP: 438516CX2<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |    765000 | PA      | $774182.93    | 0.26%             | 2027-07-30      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Secu | JPMBB Commercial Mortgage Securities Trust 2014-C22       | CUSIP: 46642NBH8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    345851 | PA      | $340663.63    | 0.11%             | 2047-09-15      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                                       | CUSIP: 46647PEY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2235000 | PA      | $2310085.45   | 0.78%             | 2031-04-22      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| KITE REALTY GROUP LP           | Kite Realty Group LP                                      | CUSIP: 49803XAA1<br>LEI: 549300X6R2GYI8Y3OD81 | Long             | DBT              | CORP              | US        |    905000 | PA      | $902656.08    | 0.30%             | 2026-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO           | Kraft Heinz Foods Co                                      | CUSIP: 50077LBC9<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    625000 | PA      | $622182.90    | 0.21%             | 2027-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| KSL Commercial Mortgage Trust  | KSL Commercial Mortgage Trust 2024-HT2                    | CUSIP: 500937AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1952470 | PA      | $1951858.17   | 0.66%             | 2039-12-15      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC              | L3Harris Technologies Inc                                 | CUSIP: 502431AP4<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |    985000 | PA      | $1001261.03   | 0.34%             | 2027-01-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| LINEAGE OP LP                  | Lineage OP LP                                             | CUSIP: 53567YAA7<br>LEI: 254900CSRDL1G4SRQE89 | Long             | DBT              | CORP              | US        |    585000 | PA      | $593159.24    | 0.20%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MARS INC                       | Mars Inc                                                  | CUSIP: 571676AX3<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   2690000 | PA      | $2723233.50   | 0.92%             | 2028-03-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| MARS INC                       | Mars Inc                                                  | CUSIP: 571676AY1<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   2540000 | PA      | $2588602.21   | 0.87%             | 2030-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| MET LIFE GLOB FUNDING I        | Metropolitan Life Global Funding I                        | CUSIP: 592179KF1<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |    295000 | PA      | $301240.76    | 0.10%             | 2028-01-06      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                 | Morgan Stanley                                            | CUSIP: 61747YFZ3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1070000 | PA      | $1104739.04   | 0.37%             | 2031-04-17      | Variable      | 5.19%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY PVT BANK        | Morgan Stanley Private Bank NA                            | CUSIP: 61776NVG5<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |   1120000 | PA      | $1136867.77   | 0.38%             | 2031-07-18      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| MTN Commercial Mortgage Trust  | MTN Commercial Mortgage Trust 2022-LPFL                   | CUSIP: 62475WAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1499531.25   | 0.51%             | 2039-03-15      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                | MVW 2025-1 LLC                                            | CUSIP: 627924AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    516217 | PA      | $522851.87    | 0.18%             | 2042-09-22      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                | MVW 2024-1 LLC                                            | CUSIP: 62847RAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1815040 | PA      | $1848856.14   | 0.62%             | 2043-02-20      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| NYC Trust                      | NYCT Trust 2024-3ELV                                      | CUSIP: 62956HAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1875000 | PA      | $1879690.88   | 0.63%             | 2029-08-15      | Floating      | 6.14%                 | No            |                  2 | On Loan: No      |
| NATWEST MARKETS PLC            | NatWest Markets PLC                                       | CUSIP: 63906YAJ7<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |    755000 | PA      | $783183.18    | 0.26%             | 2029-05-17      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| NRTH PARK Mortgage Trust       | NRTH Commercial Mortgage Trust 2025-PARK                  | CUSIP: 669985AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1300000 | PA      | $1296750.00   | 0.44%             | 2040-10-15      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| NSTAR ELECTRIC CO              | NSTAR Electric Co                                         | CUSIP: 67021CAM9<br>LEI: 54930080R72Y2Z31UR68 | Long             | DBT              | CORP              | US        |    595000 | PA      | $587213.31    | 0.20%             | 2027-05-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| NRTH PARK Mortgage Trust       | NRTH 2024-PARK Mortgage Trust                             | CUSIP: 67021HAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1097588.47   | 0.37%             | 2039-03-15      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC        | O'Reilly Automotive Inc                                   | CUSIP: 67103HAJ6<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    315000 | PA      | $313951.76    | 0.11%             | 2030-04-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC        | O'Reilly Automotive Inc                                   | CUSIP: 67103HAM9<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    685000 | PA      | $696872.17    | 0.24%             | 2026-11-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp                                               | CUSIP: 68389XCY9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    470000 | PA      | $477993.38    | 0.16%             | 2028-08-03      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp                                               | CUSIP: 68389XDH5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    215000 | PA      | $214852.03    | 0.07%             | 2030-09-26      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| PFS Financing Corp.            | PFS Financing Corp                                        | CUSIP: 69335PFE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $505958.35    | 0.17%             | 2029-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| PFS Financing Corp.            | PFS Financing Corp                                        | CUSIP: 69335PFJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1240000 | PA      | $1265752.69   | 0.43%             | 2029-04-15      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| PKHL Commercial Mortgage Trust | PKHL Commercial Mortgage Trust 2021-MF                    | CUSIP: 69356GAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $939464.90    | 0.32%             | 2038-07-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                    | PepsiCo Inc                                               | CUSIP: 713448GL6<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    610000 | PA      | $612223.83    | 0.21%             | 2029-01-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC         | Philip Morris International Inc                           | CUSIP: 718172DN6<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    550000 | PA      | $558251.68    | 0.19%             | 2029-11-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Planet Fitness Master Issuer L | Planet Fitness Master Issuer LLC                          | CUSIP: 72703PAD5<br>LEI: 549300NX9W3U2DO53T22 | Long             | ABS-O            | CORP              | US        |    772000 | PA      | $758404.93    | 0.26%             | 2051-12-05      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| PRINCIPAL LFE GLB FND II       | Principal Life Global Funding II                          | CUSIP: 74256LEK1<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |    435000 | PA      | $430582.71    | 0.15%             | 2026-01-12      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| PROLOGIS TARGETED US           | Prologis Targeted US Logistics Fund LP                    | CUSIP: 74350LAA2<br>LEI: 5493004DTBWUQ9F2VJ87 | Long             | DBT              | CORP              | US        |    655000 | PA      | $676134.94    | 0.23%             | 2029-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC         | Roper Technologies Inc                                    | CUSIP: 776696AK2<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502408.29    | 0.17%             | 2028-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc           | SCG Trust 2025-SNIP                                       | CUSIP: 78398JAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1500940.05   | 0.51%             | 2030-09-15      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| SMR 2022-IND Mortgage Trust    | SMR 2022-IND Mortgage Trust                               | CUSIP: 78458MAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1144596 | PA      | $1144128.18   | 0.39%             | 2039-02-15      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co  | Sierra Timeshare 2023-2 Receivables Funding LLC           | CUSIP: 82650BAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     99438 | PA      | $101706.59    | 0.03%             | 2040-04-20      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS       | South Bow USA Infrastructure Holdings LLC                 | CUSIP: 83007CAB8<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    330000 | PA      | $332878.25    | 0.11%             | 2027-09-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON            | Southern California Edison Co                             | CUSIP: 842400GV9<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    185000 | PA      | $182863.51    | 0.06%             | 2026-02-01      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP              | State Street Corp                                         | CUSIP: 857477CU5<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    540000 | PA      | $546971.68    | 0.18%             | 2028-02-28      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| SYSCO CORPORATION              | Sysco Corp                                                | CUSIP: 871829BF3<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |    490000 | PA      | $483249.76    | 0.16%             | 2027-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CKP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  23205000 | PA      | $23950098.16  | 8.08%             | 2029-04-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                          | CUSIP: 91282CNK3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3135000 | PA      | $3154961.14   | 1.06%             | 2030-06-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| RTX CORP                       | RTX Corp                                                  | CUSIP: 913017CY3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    455000 | PA      | $455603.02    | 0.15%             | 2028-11-16      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS         | Verizon Communications Inc                                | CUSIP: 92343VGH1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    780000 | PA      | $744083.15    | 0.25%             | 2028-03-22      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA       | Volkswagen Group of America Finance LLC                   | CUSIP: 928668BL5<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    405000 | PA      | $403079.32    | 0.14%             | 2025-11-24      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Volkswagen Auto Lease Trust    | Volkswagen Auto Lease Trust 2024-A                        | CUSIP: 92866EAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1300000 | PA      | $1311600.03   | 0.44%             | 2027-06-21      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| WALMART INC                    | Walmart Inc                                               | CUSIP: 931142FN8<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    180000 | PA      | $182989.00    | 0.06%             | 2030-04-28      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY          | Wells Fargo & Co                                          | CUSIP: 95000U3W1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1470000 | PA      | $1516431.49   | 0.51%             | 2031-04-23      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| N/A                            | 10YR MINI JGB FUT Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | SG        |       -16 | NC      | $12808.33     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | WTI CRUDE FUTURE  Nov25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        79 | NC      | $-83120.73    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LONG GILT FUTURE  Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |      -194 | NC      | $-113986.78   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | GBP/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-17741.52    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | GOLD 100 OZ FUTR  Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        85 | NC      | $3463020.55   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | HANG SENG IDX FUT Oct25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | HK        |       130 | NC      | $279875.71    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | JPN 10Y BOND(OSE) Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | JP        |       -72 | NC      | $602851.02    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | JPY/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-5053.87     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | JPY/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $4807.33      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | JPY/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-21624.08    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | JPY/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $77171.46     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | KC HRW WHEAT FUT  Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |      -147 | NC      | $231711.66    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LME PRI ALUM FUTR Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -1 | NC      | $-0.35        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LME PRI ALUM FUTR Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        78 | NC      | $127319.70    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LME COPPER FUTURE Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -1 | NC      | $-8338.84     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LME COPPER FUTURE Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        66 | NC      | $746260.74    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LME ZINC FUTURE   Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -3 | NC      | $-11307.30    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LME ZINC FUTURE   Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        50 | NC      | $146353.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | MXN/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-638.11      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MXN/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $275.79       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MXN/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-1592.66     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MXN/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $313582.58    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Low Su Gasoil G   Nov25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |       247 | NC      | $132371.19    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | ICE 3MTH SONIA FU Dec26                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |       135 | NC      | $-15598.38    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | WHEAT FUTURE(CBT) Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |      -206 | NC      | $827998.72    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                       | AT&T Inc                                                  | CUSIP: 00206RJX1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    750000 | PA      | $728046.57    | 0.25%             | 2027-06-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| ARDN 2025-ARCP Mortgage Trust  | ARDN 2025-ARCP Mortgage Trust                             | CUSIP: 039961AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $999787.10    | 0.34%             | 2035-06-15      | Floating      | 5.90%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                  | CUSIP: 05377RGJ7<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $201706.68    | 0.07%             | 2027-10-20      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BX Trust                       | BX Trust 2022-VAMF                                        | CUSIP: 05609TAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $249609.38    | 0.08%             | 2039-01-15      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| BX Trust                       | BX Trust 2023-DELC                                        | CUSIP: 05610DAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    330000 | PA      | $332058.08    | 0.11%             | 2038-05-15      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| BX Trust                       | BX Commercial Mortgage Trust 2024-XL5                     | CUSIP: 05612GAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1056765 | PA      | $1057425.90   | 0.36%             | 2041-03-15      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| BLP Commercial Mortgage Trust  | BLP Commercial Mortgage Trust 2024-IND2                   | CUSIP: 05625AAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    502879 | PA      | $503192.81    | 0.17%             | 2041-03-15      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                                      | CUSIP: 06051GKP3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1735000 | PA      | $1741588.26   | 0.59%             | 2028-04-27      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                                      | CUSIP: 06051GML0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2440000 | PA      | $2518789.09   | 0.85%             | 2031-01-24      | Variable      | 5.16%                 | No            |                  2 | On Loan: No      |
| BANK OF NEW YORK MELLON        | Bank of New York Mellon/The                               | CUSIP: 06405LAF8<br>LEI: HPFHU0OQ28E4N0NFVK49 | Long             | DBT              | CORP              | US        |   1975000 | PA      | $1981172.47   | 0.67%             | 2027-04-20      | Variable      | 4.59%                 | No            |                  2 | On Loan: No      |
| Bank                           | BANK 2022-BNK39                                           | CUSIP: 06539VAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    199817 | PA      | $196325.28    | 0.07%             | 2055-02-15      | Fixed         | 1.74%                 | No            |                  2 | On Loan: No      |
| BOEING CO                      | Boeing Co/The                                             | CUSIP: 097023DB8<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1074561.29   | 0.36%             | 2028-02-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BRIXMOR OPERATING PART         | Brixmor Operating Partnership LP                          | CUSIP: 11120VAC7<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              | CORP              | US        |    345000 | PA      | $344450.03    | 0.12%             | 2026-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                   | Broadcom Inc                                              | CUSIP: 11135FCK5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    435000 | PA      | $441666.67    | 0.15%             | 2030-07-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC              | Brown & Brown Inc                                         | CUSIP: 115236AH4<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    450000 | PA      | $452403.38    | 0.15%             | 2026-12-23      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust        | CarMax Auto Owner Trust 2024-4                            | CUSIP: 14290DAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2450000 | PA      | $2475873.47   | 0.84%             | 2029-10-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2022-P3                    | CUSIP: 14686MAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    532926 | PA      | $533374.51    | 0.18%             | 2027-11-10      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| N/A                            | AUD/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $1793.49      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | AUD/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-100339.72   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | AUD/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-37625.40    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | EURO-SCHATZ FUT   Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |     -1472 | NC      | $39889.56     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | EUR/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-732.25      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | EUR/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $925.13       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | EUR/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-1168.91     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | EUR/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $26508.57     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | GBP/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-631.92      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | GBP/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $933.16       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | GBP/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-425159.91   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | EURO-BOBL FUTURE  Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |      -370 | NC      | $-10316.46    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | EURO-BUND FUTURE  Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |      -286 | NC      | $-188278.06   | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | EURO STOXX 50     Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |       282 | NC      | $327763.12    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | GASOLINE RBOB FUT Nov25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       144 | NC      | $-82356.08    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | AUST 10Y BOND FUT Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | AU        |       400 | NC      | $-142589.29   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | FTSE 100 IDX FUT  Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        |       474 | NC      | $790520.22    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | S&P500 EMINI FUT  Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       147 | NC      | $555056.82    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | NY Harb ULSD Fut  Nov25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       138 | NC      | $47169.50     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | NATURAL GAS FUTR  Nov25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |      -147 | NC      | $-24644.79    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | NIKKEI 225  (OSE) Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |        94 | NC      | $751802.52    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | NASDAQ 100 E-MINI Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        79 | NC      | $614584.24    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | NZD/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-2428.09     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | NZD/USD FWD 20251001                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $5339.57      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | NZD/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-242483.92   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | NZD/USD FWD 20251217                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $265349.86    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SOYBEAN FUTURE    Nov25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |      -244 | NC      | $189234.06    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SILVER FUTURE     Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        82 | NC      | $2879818.71   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SOYBEAN MEAL FUTR Dec25                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |      -118 | NC      | $281177.92    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-17

**Name of Applicant:** LoCorr Investment Trust

**Signature:** Jon Essen

**Name of Signer:** Jon Essen

**Title:** Treasurer