# EDGAR Filing Document

**Accession Number:** 0000063075
**File Stem:** 0002071691-25-001997
**Filing Date:** 2025-9
**Character Count:** 264014
**Document Hash:** 570b4dc2371e98ae9b4fe26f4d77b358
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-001997.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0002071691-25-001997

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS SERIES TRUST IX
- **CENTRAL INDEX KEY:** 0000063075

**ORGANIZATION NAME:**
- **EIN:** 042535629
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02464
- **FILM NUMBER:** 251342299

**BUSINESS ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 18006372929

**MAIL ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS SERIES TRUST IX /MA/
- **DATE OF NAME CHANGE:** 19951218

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS SERIES TRUST IX
- **DATE OF NAME CHANGE:** 19950207

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS BOND FUND
- **DATE OF NAME CHANGE:** 19930408

## Series and Classes Contracts Data

### MFS Corporate Bond Fund (Series ID: S000002492)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006711 | A            | MFBFX           |
| C000006712 | R4           | MFBJX           |
| C000006716 | B            | MFBBX           |
| C000006717 | C            | MFBCX           |
| C000006718 | I            | MBDIX           |
| C000006720 | R1           | MFBGX           |
| C000006722 | R2           | MBRRX           |
| C000006723 | R3           | MFBHX           |
| C000070424 | R6           | MFBKX           |

## Nport-Ex

MFB-Q1

![](img3af4d9971.gif)

**Quarterly Report**

July 31, 2025

MFS<sup>®</sup> Corporate Bond Fund

![](img8e6ce2fc2.gif)

------

**Portfolio of Investments**

7/31/25 (unaudited)

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – 98.4%  | Bonds – 98.4%  | Bonds – 98.4%  |
| Aerospace & Defense – 2.1% | Aerospace & Defense – 2.1% | Aerospace & Defense – 2.1% |
| Boeing Co., 2.196%, 2/04/2026  | $8727000 | &nbsp;&nbsp;&nbsp; $8611227 |
| Boeing Co., 5.15%, 5/01/2030  | 15298000 | &nbsp;&nbsp;&nbsp; 15540803 |
| Boeing Co., 6.388%, 5/01/2031  | 6580000 | &nbsp;&nbsp;&nbsp; 7079076 |
| Boeing Co., 5.805%, 5/01/2050  | 33463000 | &nbsp;&nbsp;&nbsp; 32294770 |
| Huntington Ingalls Industries, Inc., 5.749%, 1/15/2035  | 4416000 | &nbsp;&nbsp;&nbsp; 4539551 |
| L3 Harris Technologies, Inc., 5.4%, 7/31/2033  | 8332000 | &nbsp;&nbsp;&nbsp; 8551542 |
| TransDigm, Inc., 6.875%, 12/15/2030 (n) | 16762000 | &nbsp;&nbsp;&nbsp; 17371667 |
|  |  | &nbsp;&nbsp;&nbsp; $93988636 |
| Asset-Backed & Securitized – 3.4% | Asset-Backed & Securitized – 3.4% | Asset-Backed & Securitized – 3.4% |
| 3650R Commercial Mortgage Trust, 2021-PF1, "XA", 1.109%, 11/15/2054 (i) | $110591128 | &nbsp;&nbsp;&nbsp; $4213854 |
| ACREC 2021-FL1 Ltd., "A", FLR, 5.614% ((SOFR - 1mo. + 0.11448%) + 1.15%), 10/16/2036 (n) | 6108618 | &nbsp;&nbsp;&nbsp; 6090958 |
| Angel Oak Mortgage Trust, 2024-13, "A1", 5.464%, 12/26/2069 (n) | 11307273 | &nbsp;&nbsp;&nbsp; 11298892 |
| Arbor Realty Trust, Inc., CLO, 2021-FL4, "AS", FLR, 6.156% ((SOFR - 1mo. + 0.11448%) + 1.7%), 11/15/2036 (n) | 4841000 | &nbsp;&nbsp;&nbsp; 4841107 |
| ARDN Mortgage Trust, 2025-ARCP, "A", FLR, 6.092% (SOFR - 1mo. + 1.75%), 6/15/2035 (n) | 16374000 | &nbsp;&nbsp;&nbsp; 16380993 |
| ARI Fleet Lease Trust, 2023-A, "A2", 5.41%, 2/17/2032 (n) | 863911 | &nbsp;&nbsp;&nbsp; 864987 |
| Bayview Financial Revolving Mortgage Loan Trust, FLR, 6.067% ((SOFR - 1mo. + 0.11448%) + 1.6%), 12/28/2040 (n) | 149726 | &nbsp;&nbsp;&nbsp; 308638 |
| Benchmark 2021-B27 Mortgage Trust, "XA", 1.233%, 7/15/2054 (i) | 194106836 | &nbsp;&nbsp;&nbsp; 10009604 |
| Colt Funding LLC, 2024-6, "A1", 5.39%, 11/25/2069 (n) | 8842783 | &nbsp;&nbsp;&nbsp; 8832388 |
| ELM Trust, 2024-ELM, "A10", 5.994%, 6/10/2039 (n) | 11593604 | &nbsp;&nbsp;&nbsp; 11674258 |
| ELM Trust, 2024-ELM, "D10", 6.847%, 6/10/2039 (n) | 4848307 | &nbsp;&nbsp;&nbsp; 4857947 |
| KREF 2018-FT1 Ltd., "A", FLR, 5.528% ((SOFR - 1mo. + 0.11448%) + 1.07%), 2/15/2039 (n) | 4029640 | &nbsp;&nbsp;&nbsp; 4007385 |
| KREF 2018-FT1 Ltd., "AS", FLR, 5.758% ((SOFR - 1mo. + 0.11448%) + 1.3%), 2/15/2039 (n) | 9074500 | &nbsp;&nbsp;&nbsp; 9009009 |
| MF1 2024-FL5 LLC, "A", FLR, 6.038% (SOFR - 1mo. + 1.688%), 8/18/2041 (n) | 14356000 | &nbsp;&nbsp;&nbsp; 14357737 |
| MF1 2022-FL8 Ltd., "A", FLR, 5.701% (SOFR - 1mo. + 1.35%), 2/19/2037 (n) | 9518497 | &nbsp;&nbsp;&nbsp; 9518449 |
| Morgan Stanley Residential Mortgage Loan Trust, 2024-NQM3, "A-1", 5.044%, 7/25/2069 (n) | 4325406 | &nbsp;&nbsp;&nbsp; 4288178 |
| Morgan Stanley Residential Mortgage Loan Trust, 2025-NQM3, "A-1", 5.53%, 5/25/2070 (n) | 4418969 | &nbsp;&nbsp;&nbsp; 4416672 |
| OBX Trust, 2024-NQM1, "A1", 5.928%, 11/25/2063 (n) | 3231631 | &nbsp;&nbsp;&nbsp; 3244077 |
| OBX Trust, 2024-NQM15, "A1", 5.316%, 10/25/2064 (n) | 2537909 | &nbsp;&nbsp;&nbsp; 2525325 |
| OBX Trust, 2024-NQM3, "A1", 6.129%, 12/25/2063 (n) | 4088611 | &nbsp;&nbsp;&nbsp; 4114252 |
| Provident Funding Mortgage Trust, 2025-3, "A4", 5.5%, 8/25/2055 (n) | 17305327 | &nbsp;&nbsp;&nbsp; 17256680 |
| Virginia Power Fuel Securitization LLC, 5.088%, 5/01/2027  | 3695597 | &nbsp;&nbsp;&nbsp; 3708633 |
|  |  | &nbsp;&nbsp;&nbsp; $155820023 |
| Automotive – 1.1% | Automotive – 1.1% | Automotive – 1.1% |
| Cummins, Inc., 5.45%, 2/20/2054  | $7545000 | &nbsp;&nbsp;&nbsp; $7306870 |
| Ford Motor Credit Co. LLC, 5.8%, 3/05/2027  | 8394000 | &nbsp;&nbsp;&nbsp; 8441211 |
| Ford Motor Credit Co. LLC, 4.95%, 5/28/2027  | 10040000 | &nbsp;&nbsp;&nbsp; 9958585 |
| Ford Motor Credit Co. LLC, 5.8%, 3/08/2029  | 6755000 | &nbsp;&nbsp;&nbsp; 6767670 |
| Ford Motor Credit Co. LLC, 5.113%, 5/03/2029  | 11273000 | &nbsp;&nbsp;&nbsp; 11028065 |
| Volkswagen Group of America Finance LLC, 6.2%, 11/16/2028 (n) | 8166000 | &nbsp;&nbsp;&nbsp; 8463707 |
|  |  | &nbsp;&nbsp;&nbsp; $51966108 |
| Broadcasting – 1.1% | Broadcasting – 1.1% | Broadcasting – 1.1% |
| Walt Disney Co., 3.5%, 5/13/2040  | $25879000 | &nbsp;&nbsp;&nbsp; $21152819 |
| Walt Disney Co., 4.75%, 9/15/2044  | 2217000 | &nbsp;&nbsp;&nbsp; 2001760 |
| Walt Disney Co., 3.6%, 1/13/2051  | 9908000 | &nbsp;&nbsp;&nbsp; 7268027 |
| WMG Acquisition Corp., 3.75%, 12/01/2029 (n) | 11650000 | &nbsp;&nbsp;&nbsp; 10936674 |
| WMG Acquisition Corp., 3.875%, 7/15/2030 (n) | 10874000 | &nbsp;&nbsp;&nbsp; 10149107 |
|  |  | &nbsp;&nbsp;&nbsp; $51508387 |
| Brokerage & Asset Managers – 2.5% | Brokerage & Asset Managers – 2.5% | Brokerage & Asset Managers – 2.5% |
| Charles Schwab Corp., 6.136% to 8/24/2033, FLR (SOFR - 1 day + 2.01%) to 8/24/2034  | $11090000 | &nbsp;&nbsp;&nbsp; $11967879 |
| Citadel Securities Global Holdings LLC, 5.5%, 6/18/2030 (n) | 13723000 | &nbsp;&nbsp;&nbsp; 13842827 |
| Jane Street Group/JSG Finance, Inc., 6.125%, 11/01/2032 (n) | 19354000 | &nbsp;&nbsp;&nbsp; 19202348 |
| LPL Holdings, Inc., 4.625%, 11/15/2027 (n) | 12968000 | &nbsp;&nbsp;&nbsp; 12890550 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Brokerage & Asset Managers – continued | Brokerage & Asset Managers – continued | Brokerage & Asset Managers – continued |
| LPL Holdings, Inc., 6.75%, 11/17/2028  | $3337000 | &nbsp;&nbsp;&nbsp; $3543275 |
| LPL Holdings, Inc., 4.375%, 5/15/2031 (n) | 16854000 | &nbsp;&nbsp;&nbsp; 16114557 |
| LPL Holdings, Inc., 5.65%, 3/15/2035  | 15512000 | &nbsp;&nbsp;&nbsp; 15564221 |
| LSEG US Financial Corp., 5.297%, 3/28/2034 (n) | 6298000 | &nbsp;&nbsp;&nbsp; 6409304 |
| Nomura Holdings, Inc., 7% to 1/15/2031, FLR (CMT - 5yr. + 3.084%) to 1/15/2174  | 9598000 | &nbsp;&nbsp;&nbsp; 9718493 |
| Osaic Holdings, Inc., 6.75%, 8/01/2032 (n) | 2507000 | &nbsp;&nbsp;&nbsp; 2537238 |
|  |  | &nbsp;&nbsp;&nbsp; $111790692 |
| Building – 1.5% | Building – 1.5% | Building – 1.5% |
| CEMEX S.A.B. de C.V., 7.2%, 12/29/2049 (n) | $9818000 | &nbsp;&nbsp;&nbsp; $10023687 |
| Ferguson Enterprises, Inc., 5%, 10/03/2034  | 16803000 | &nbsp;&nbsp;&nbsp; 16589281 |
| JH North America Holdings, Inc., 5.875%, 1/31/2031 (n) | 9787000 | &nbsp;&nbsp;&nbsp; 9820511 |
| JH North America Holdings, Inc., 6.125%, 7/31/2032 (n) | 9787000 | &nbsp;&nbsp;&nbsp; 9888442 |
| Vulcan Materials Co., 3.5%, 6/01/2030  | 4932000 | &nbsp;&nbsp;&nbsp; 4693930 |
| Vulcan Materials Co., 4.5%, 6/15/2047  | 10514000 | &nbsp;&nbsp;&nbsp; 8838528 |
| Vulcan Materials Co., 5.7%, 12/01/2054  | 7935000 | &nbsp;&nbsp;&nbsp; 7847352 |
|  |  | &nbsp;&nbsp;&nbsp; $67701731 |
| Business Services – 2.1% | Business Services – 2.1% | Business Services – 2.1% |
| Accenture Capital, Inc., 4.25%, 10/04/2031  | $9441000 | &nbsp;&nbsp;&nbsp; $9297037 |
| Accenture Capital, Inc., 4.5%, 10/04/2034  | 6291000 | &nbsp;&nbsp;&nbsp; 6087866 |
| Fiserv, Inc., 2.25%, 6/01/2027  | 11598000 | &nbsp;&nbsp;&nbsp; 11142111 |
| Fiserv, Inc., 4.4%, 7/01/2049  | 13109000 | &nbsp;&nbsp;&nbsp; 10470464 |
| Mastercard, Inc., 4.35%, 1/15/2032  | 11736000 | &nbsp;&nbsp;&nbsp; 11623414 |
| Mastercard, Inc., 4.55%, 1/15/2035  | 11064000 | &nbsp;&nbsp;&nbsp; 10808277 |
| Paychex, Inc., 5.1%, 4/15/2030  | 5597000 | &nbsp;&nbsp;&nbsp; 5718340 |
| Paychex, Inc., 5.35%, 4/15/2032  | 12254000 | &nbsp;&nbsp;&nbsp; 12560745 |
| Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., 6.75%, 8/15/2032 (n) | 10367000 | &nbsp;&nbsp;&nbsp; 10709059 |
| Visa, Inc., 3.65%, 9/15/2047  | 9718000 | &nbsp;&nbsp;&nbsp; 7501061 |
|  |  | &nbsp;&nbsp;&nbsp; $95918374 |
| Cable TV – 1.9% | Cable TV – 1.9% | Cable TV – 1.9% |
| Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 6.1%, 6/01/2029  | $21111000 | &nbsp;&nbsp;&nbsp; $22022106 |
| Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 5.375%, 5/01/2047  | 19575000 | &nbsp;&nbsp;&nbsp; 16598951 |
| Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 6.834%, 10/23/2055  | 4303000 | &nbsp;&nbsp;&nbsp; 4286656 |
| Comcast Corp., 2.887%, 11/01/2051  | 13896000 | &nbsp;&nbsp;&nbsp; 8348636 |
| Videotron Ltd., 3.625%, 6/15/2029 (n) | 19934000 | &nbsp;&nbsp;&nbsp; 19001619 |
| Videotron Ltd., 5.7%, 1/15/2035 (n) | 15385000 | &nbsp;&nbsp;&nbsp; 15438432 |
|  |  | &nbsp;&nbsp;&nbsp; $85696400 |
| Chemicals – 0.9% | Chemicals – 0.9% | Chemicals – 0.9% |
| Maxam Prill S.à r.l., 7.75%, 7/15/2030 (n) | $23765000 | &nbsp;&nbsp;&nbsp; $23235730 |
| SCIH Salt Holdings, Inc., 4.875%, 5/01/2028 (n) | 18888000 | &nbsp;&nbsp;&nbsp; 18339657 |
|  |  | &nbsp;&nbsp;&nbsp; $41575387 |
| Computer Software – 0.5% | Computer Software – 0.5% | Computer Software – 0.5% |
| Microsoft Corp., 2.525%, 6/01/2050  | $5450000 | &nbsp;&nbsp;&nbsp; $3352608 |
| Microsoft Corp., 2.5%, 9/15/2050  | 14610000 | &nbsp;&nbsp;&nbsp; 8822214 |
| Oracle Corp., 5.55%, 2/06/2053  | 12451000 | &nbsp;&nbsp;&nbsp; 11503183 |
|  |  | &nbsp;&nbsp;&nbsp; $23678005 |
| Computer Software - Systems – 0.1% | Computer Software - Systems – 0.1% | Computer Software - Systems – 0.1% |
| Apple, Inc., 2.7%, 8/05/2051  | $6683000 | &nbsp;&nbsp;&nbsp; $4166604 |
| Conglomerates – 1.4% | Conglomerates – 1.4% | Conglomerates – 1.4% |
| nVent Finance S.à r.l., 5.65%, 5/15/2033  | $5067000 | &nbsp;&nbsp;&nbsp; $5178369 |
| Regal Rexnord Corp., 6.05%, 4/15/2028  | 10547000 | &nbsp;&nbsp;&nbsp; 10865037 |
| Regal Rexnord Corp., 6.3%, 2/15/2030  | 14860000 | &nbsp;&nbsp;&nbsp; 15555343 |
| Regal Rexnord Corp., 6.4%, 4/15/2033  | 11138000 | &nbsp;&nbsp;&nbsp; 11773516 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Conglomerates – continued | Conglomerates – continued | Conglomerates – continued |
| Westinghouse Air Brake Technologies Corp., 4.7%, 9/15/2028  | $10836000 | &nbsp;&nbsp;&nbsp; $10892778 |
| Westinghouse Air Brake Technologies Corp., 5.611%, 3/11/2034  | 8326000 | &nbsp;&nbsp;&nbsp; 8608288 |
|  |  | &nbsp;&nbsp;&nbsp; $62873331 |
| Consumer Products – 1.3% | Consumer Products – 1.3% | Consumer Products – 1.3% |
| Haleon US Capital LLC, 3.625%, 3/24/2032  | $11835000 | &nbsp;&nbsp;&nbsp; $11070135 |
| HFC Prestige Products, Inc./HFC Prestige International US LLC, 4.75%, 1/15/2029 (n) | 13979000 | &nbsp;&nbsp;&nbsp; 13708452 |
| HFC Prestige Products, Inc./HFC Prestige International US LLC, 6.625%, 7/15/2030 (n) | 5144000 | &nbsp;&nbsp;&nbsp; 5285913 |
| Kenvue, Inc., 5.1%, 3/22/2043  | 10021000 | &nbsp;&nbsp;&nbsp; 9572518 |
| L'Oréal S.A., 5%, 5/20/2035 (n) | 10013000 | &nbsp;&nbsp;&nbsp; 10099692 |
| Mattel, Inc., 3.75%, 4/01/2029 (n) | 8826000 | &nbsp;&nbsp;&nbsp; 8450466 |
|  |  | &nbsp;&nbsp;&nbsp; $58187176 |
| Consumer Services – 0.6% | Consumer Services – 0.6% | Consumer Services – 0.6% |
| CBRE Group, Inc., 5.95%, 8/15/2034  | $14472000 | &nbsp;&nbsp;&nbsp; $15248608 |
| Rentokil Terminix LLC, 5%, 4/28/2030 (n) | 6759000 | &nbsp;&nbsp;&nbsp; 6787745 |
| Service Corp. International, 5.75%, 10/15/2032  | 6087000 | &nbsp;&nbsp;&nbsp; 6101426 |
|  |  | &nbsp;&nbsp;&nbsp; $28137779 |
| Electrical Equipment – 0.3% | Electrical Equipment – 0.3% | Electrical Equipment – 0.3% |
| Arrow Electronics, Inc., 5.875%, 4/10/2034  | $15431000 | &nbsp;&nbsp;&nbsp; $15868097 |
| Electronics – 1.1% | Electronics – 1.1% | Electronics – 1.1% |
| Broadcom, Inc., 5.05%, 7/12/2029  | $8807000 | &nbsp;&nbsp;&nbsp; $8988857 |
| Broadcom, Inc., 5.2%, 7/15/2035  | 12805000 | &nbsp;&nbsp;&nbsp; 12865595 |
| Intel Corp., 5.7%, 2/10/2053  | 7743000 | &nbsp;&nbsp;&nbsp; 6971235 |
| Lam Research Corp., 4.875%, 3/15/2049  | 7791000 | &nbsp;&nbsp;&nbsp; 7085186 |
| NXP B.V./NXP Funding LLC/NXP USA, Inc., 5%, 1/15/2033  | 3324000 | &nbsp;&nbsp;&nbsp; 3314079 |
| NXP B.V./NXP Funding LLC/NXP USA, Inc., 3.125%, 2/15/2042  | 12491000 | &nbsp;&nbsp;&nbsp; 8946633 |
|  |  | &nbsp;&nbsp;&nbsp; $48171585 |
| Emerging Market Quasi-Sovereign – 0.2% | Emerging Market Quasi-Sovereign – 0.2% | Emerging Market Quasi-Sovereign – 0.2% |
| GACI First Investment Co. (Kingdom of Saudi Arabia), 5.125%, 2/14/2053  | $8025000 | &nbsp;&nbsp;&nbsp; $6943340 |
| Emerging Market Sovereign – 1.4% | Emerging Market Sovereign – 1.4% | Emerging Market Sovereign – 1.4% |
| Eagle Funding LuxCo. S.à r.l. (United Mexican States), 5.5%, 8/17/2030 (n) | $19295000 | &nbsp;&nbsp;&nbsp; $19381827 |
| Kingdom of Saudi Arabia, 5.125%, 1/13/2028 (n) | 13484000 | &nbsp;&nbsp;&nbsp; 13719086 |
| United Mexican States, 5.85%, 7/02/2032  | 14119000 | &nbsp;&nbsp;&nbsp; 14203714 |
| United Mexican States, 6.625%, 1/29/2038  | 11920000 | &nbsp;&nbsp;&nbsp; 11979600 |
| United Mexican States, 6.338%, 5/04/2053  | 4838000 | &nbsp;&nbsp;&nbsp; 4419513 |
|  |  | &nbsp;&nbsp;&nbsp; $63703740 |
| Energy - Independent – 1.3% | Energy - Independent – 1.3% | Energy - Independent – 1.3% |
| Occidental Petroleum Corp., 6.125%, 1/01/2031  | $7894000 | &nbsp;&nbsp;&nbsp; $8163517 |
| Occidental Petroleum Corp., 4.4%, 4/15/2046  | 17633000 | &nbsp;&nbsp;&nbsp; 12999679 |
| Pioneer Natural Resources Co., 1.9%, 8/15/2030  | 2906000 | &nbsp;&nbsp;&nbsp; 2573493 |
| Pioneer Natural Resources Co., 2.15%, 1/15/2031  | 21285000 | &nbsp;&nbsp;&nbsp; 18835306 |
| Santos Finance Ltd., 6.875%, 9/19/2033 (n) | 14313000 | &nbsp;&nbsp;&nbsp; 15567678 |
|  |  | &nbsp;&nbsp;&nbsp; $58139673 |
| Energy - Integrated – 0.1% | Energy - Integrated – 0.1% | Energy - Integrated – 0.1% |
| BP Capital Markets America, Inc., 3.001%, 3/17/2052  | $10654000 | &nbsp;&nbsp;&nbsp; $6698559 |
| Entertainment – 1.4% | Entertainment – 1.4% | Entertainment – 1.4% |
| Carnival Corp., 5.75%, 8/01/2032 (n) | $15087000 | &nbsp;&nbsp;&nbsp; $15189139 |
| Royal Caribbean Cruises Ltd., 4.25%, 7/01/2026 (n) | 18053000 | &nbsp;&nbsp;&nbsp; 17980012 |
| Royal Caribbean Cruises Ltd., 5.625%, 9/30/2031 (n) | 6700000 | &nbsp;&nbsp;&nbsp; 6748119 |
| Royal Caribbean Cruises Ltd., 6%, 2/01/2033 (n) | 9140000 | &nbsp;&nbsp;&nbsp; 9290841 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Entertainment – continued | Entertainment – continued | Entertainment – continued |
| Six Flags Entertainment Corp., 6.625%, 5/01/2032 (n) | $12829000 | &nbsp;&nbsp;&nbsp; $13063860 |
|  |  | &nbsp;&nbsp;&nbsp; $62271971 |
| Financial Institutions – 1.9% | Financial Institutions – 1.9% | Financial Institutions – 1.9% |
| Avolon Holdings Funding Ltd., 4.375%, 5/01/2026 (n) | $4843000 | &nbsp;&nbsp;&nbsp; $4817802 |
| Avolon Holdings Funding Ltd., 3.25%, 2/15/2027 (n) | 9024000 | &nbsp;&nbsp;&nbsp; 8798181 |
| Avolon Holdings Funding Ltd., 2.75%, 2/21/2028 (n) | 5143000 | &nbsp;&nbsp;&nbsp; 4878204 |
| Fortress Transportation and Infrastructure Investors LLC, 7%, 5/01/2031 (n) | 10320000 | &nbsp;&nbsp;&nbsp; 10707475 |
| Macquarie AirFinance Holdings Ltd., 8.125%, 3/30/2029 (n) | 5642000 | &nbsp;&nbsp;&nbsp; 5889136 |
| Macquarie AirFinance Holdings Ltd., 5.15%, 3/17/2030 (n) | 4283000 | &nbsp;&nbsp;&nbsp; 4279392 |
| Macquarie AirFinance Holdings Ltd., 6.5%, 3/26/2031 (n) | 7609000 | &nbsp;&nbsp;&nbsp; 8054712 |
| Rocket Cos., Inc., 6.125%, 8/01/2030 (n) | 5461000 | &nbsp;&nbsp;&nbsp; 5537195 |
| Rocket Cos., Inc., 6.375%, 8/01/2033 (n) | 5461000 | &nbsp;&nbsp;&nbsp; 5570128 |
| Rocket Mortgage Co-Issuer, Inc., 3.875%, 3/01/2031 (n) | 8010000 | &nbsp;&nbsp;&nbsp; 7388562 |
| SMBC Aviation Capital Finance DAC, 5.3%, 4/03/2029 (n) | 21169000 | &nbsp;&nbsp;&nbsp; 21568254 |
|  |  | &nbsp;&nbsp;&nbsp; $87489041 |
| Food & Beverages – 4.6% | Food & Beverages – 4.6% | Food & Beverages – 4.6% |
| Anheuser-Busch InBev Worldwide, Inc., 4.375%, 4/15/2038  | $4622000 | &nbsp;&nbsp;&nbsp; $4288171 |
| Anheuser-Busch InBev Worldwide, Inc., 4.439%, 10/06/2048  | 17135000 | &nbsp;&nbsp;&nbsp; 14484058 |
| Bacardi-Martini B.V., 5.4%, 6/15/2033 (n) | 20190000 | &nbsp;&nbsp;&nbsp; 20214224 |
| Bunge Ltd. Finance Corp., 5.25%, 4/21/2032 (n) | 3134000 | &nbsp;&nbsp;&nbsp; 3162560 |
| Constellation Brands, Inc., 4.1%, 2/15/2048  | 11594000 | &nbsp;&nbsp;&nbsp; 8967790 |
| Constellation Brands, Inc., 3.75%, 5/01/2050  | 5973000 | &nbsp;&nbsp;&nbsp; 4340203 |
| Flowers Foods, Inc., 5.75%, 3/15/2035  | 15526000 | &nbsp;&nbsp;&nbsp; 15808694 |
| Flowers Foods, Inc., 6.2%, 3/15/2055  | 4346000 | &nbsp;&nbsp;&nbsp; 4248789 |
| JBS USA Lux S.A./JBS USA Food Co./JBS USA Finance, Inc., 3.75%, 12/01/2031  | 12802000 | &nbsp;&nbsp;&nbsp; 11908405 |
| JBS USA Lux S.A./JBS USA Food Co./JBS USA Finance, Inc., 3.625%, 1/15/2032  | 8055000 | &nbsp;&nbsp;&nbsp; 7366740 |
| JBS USA Lux S.A./JBS USA Food Co./JBS USA Finance, Inc., 6.5%, 12/01/2052  | 11976000 | &nbsp;&nbsp;&nbsp; 12239927 |
| Kraft Heinz Foods Co., 4.875%, 10/01/2049  | 12944000 | &nbsp;&nbsp;&nbsp; 10821822 |
| Kraft Heinz Foods Co., 5.5%, 6/01/2050  | 11964000 | &nbsp;&nbsp;&nbsp; 10815662 |
| Mars, Inc., 4.55%, 4/20/2028 (n) | 9306000 | &nbsp;&nbsp;&nbsp; 9353753 |
| Mars, Inc., 5%, 3/01/2032 (n) | 19768000 | &nbsp;&nbsp;&nbsp; 19950007 |
| Mars, Inc., 5.2%, 3/01/2035 (n) | 3438000 | &nbsp;&nbsp;&nbsp; 3454458 |
| Mars, Inc., 3.95%, 4/01/2049 (n) | 10409000 | &nbsp;&nbsp;&nbsp; 8171530 |
| Mars, Inc., 5.7%, 5/01/2055 (n) | 13975000 | &nbsp;&nbsp;&nbsp; 13789755 |
| Primo Water Holdings Inc./Triton Water Holdings, 4.375%, 4/30/2029 (n) | 6468000 | &nbsp;&nbsp;&nbsp; 6239051 |
| SYSCO Corp., 4.45%, 3/15/2048  | 10038000 | &nbsp;&nbsp;&nbsp; 8332961 |
| U.S. Foods Holding Corp., 5.75%, 4/15/2033 (n) | 9882000 | &nbsp;&nbsp;&nbsp; 9791117 |
|  |  | &nbsp;&nbsp;&nbsp; $207749677 |
| Gaming & Lodging – 2.1% | Gaming & Lodging – 2.1% | Gaming & Lodging – 2.1% |
| Flutter Treasury DAC, 6.375%, 4/29/2029 (n) | $14904000 | &nbsp;&nbsp;&nbsp; $15327587 |
| Flutter Treasury DAC, 5.875%, 6/04/2031 (n) | 18564000 | &nbsp;&nbsp;&nbsp; 18686430 |
| Las Vegas Sands Corp., 5.9%, 6/01/2027  | 6679000 | &nbsp;&nbsp;&nbsp; 6790451 |
| Las Vegas Sands Corp., 6.2%, 8/15/2034  | 8932000 | &nbsp;&nbsp;&nbsp; 9158712 |
| Marriott International, Inc., 2.85%, 4/15/2031  | 12565000 | &nbsp;&nbsp;&nbsp; 11390322 |
| Melco Resorts Finance Ltd., 7.625%, 4/17/2032 (n) | 5546000 | &nbsp;&nbsp;&nbsp; 5700334 |
| Sands China Ltd., 2.85%, 3/08/2029  | 15270000 | &nbsp;&nbsp;&nbsp; 14130472 |
| VICI Properties LP/VICI Note Co., Inc., 4.25%, 12/01/2026 (n) | 7044000 | &nbsp;&nbsp;&nbsp; 6985837 |
| Wynn Macau Ltd., 5.5%, 10/01/2027 (n) | 8594000 | &nbsp;&nbsp;&nbsp; 8566063 |
|  |  | &nbsp;&nbsp;&nbsp; $96736208 |
| Industrial – 0.3% | Industrial – 0.3% | Industrial – 0.3% |
| Booz Allen Hamilton, Inc., 5.95%, 4/15/2035  | $15101000 | &nbsp;&nbsp;&nbsp; $15417487 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Insurance – 2.2% | Insurance – 2.2% | Insurance – 2.2% |
| Corebridge Financial, Inc., 3.9%, 4/05/2032  | $22135000 | &nbsp;&nbsp;&nbsp; $20803156 |
| Corebridge Financial, Inc., 4.35%, 4/05/2042  | 2707000 | &nbsp;&nbsp;&nbsp; 2265710 |
| Corebridge Financial, Inc., 6.875% to 12/15/2027, FLR (CMT - 5yr. + 3.846%) to 12/15/2052  | 8970000 | &nbsp;&nbsp;&nbsp; 9212828 |
| Lincoln National Corp., 5.852%, 3/15/2034  | 13260000 | &nbsp;&nbsp;&nbsp; 13575459 |
| MetLife, Inc., 5.3%, 12/15/2034  | 12241000 | &nbsp;&nbsp;&nbsp; 12518719 |
| Northwestern Mutual Life Insurance Co., 6.17%, 5/29/2055 (n) | 23268000 | &nbsp;&nbsp;&nbsp; 24270455 |
| Sammons Financial Group, Inc., 6.875%, 4/15/2034 (n) | 17496000 | &nbsp;&nbsp;&nbsp; 18778510 |
|  |  | &nbsp;&nbsp;&nbsp; $101424837 |
| Insurance - Health – 1.6% | Insurance - Health – 1.6% | Insurance - Health – 1.6% |
| Elevance Health, Inc., 5.65%, 6/15/2054  | $15203000 | &nbsp;&nbsp;&nbsp; $14394829 |
| Humana, Inc., 5.375%, 4/15/2031  | 8892000 | &nbsp;&nbsp;&nbsp; 9070278 |
| Humana, Inc., 5.55%, 5/01/2035  | 9053000 | &nbsp;&nbsp;&nbsp; 9068113 |
| Humana, Inc., 4.95%, 10/01/2044  | 7759000 | &nbsp;&nbsp;&nbsp; 6715708 |
| UnitedHealth Group, Inc., 5.3%, 2/15/2030  | 8423000 | &nbsp;&nbsp;&nbsp; 8665141 |
| UnitedHealth Group, Inc., 5.5%, 7/15/2044  | 11737000 | &nbsp;&nbsp;&nbsp; 11329886 |
| UnitedHealth Group, Inc., 5.875%, 2/15/2053  | 13807000 | &nbsp;&nbsp;&nbsp; 13624605 |
|  |  | &nbsp;&nbsp;&nbsp; $72868560 |
| Insurance - Property & Casualty – 3.2% | Insurance - Property & Casualty – 3.2% | Insurance - Property & Casualty – 3.2% |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 6.75%, 4/15/2028 (n) | $14078000 | &nbsp;&nbsp;&nbsp; $14268405 |
| American International Group, Inc., 4.85%, 5/07/2030  | 8082000 | &nbsp;&nbsp;&nbsp; 8188446 |
| American International Group, Inc., 5.125%, 3/27/2033  | 16737000 | &nbsp;&nbsp;&nbsp; 16942071 |
| Arthur J. Gallagher & Co., 6.5%, 2/15/2034  | 14386000 | &nbsp;&nbsp;&nbsp; 15695345 |
| Arthur J. Gallagher & Co., 6.75%, 2/15/2054  | 11784000 | &nbsp;&nbsp;&nbsp; 12865185 |
| Brown & Brown, Inc., 5.25%, 6/23/2032  | 2879000 | &nbsp;&nbsp;&nbsp; 2912023 |
| Brown & Brown, Inc., 6.25%, 6/23/2055  | 3685000 | &nbsp;&nbsp;&nbsp; 3775719 |
| Fairfax Financial Holdings Ltd., 3.375%, 3/03/2031  | 11222000 | &nbsp;&nbsp;&nbsp; 10370642 |
| Fairfax Financial Holdings Ltd., 5.625%, 8/16/2032  | 4771000 | &nbsp;&nbsp;&nbsp; 4878183 |
| Fairfax Financial Holdings Ltd., 6.35%, 3/22/2054  | 11191000 | &nbsp;&nbsp;&nbsp; 11282403 |
| Fairfax Financial Holdings Ltd., 6.5%, 5/20/2055 (n) | 7484000 | &nbsp;&nbsp;&nbsp; 7611179 |
| Marsh & McLennan Cos., Inc., 4.85%, 11/15/2031  | 21665000 | &nbsp;&nbsp;&nbsp; 21922013 |
| Marsh & McLennan Cos., Inc., 5.4%, 3/15/2055  | 12177000 | &nbsp;&nbsp;&nbsp; 11616366 |
| Panther Escrow Issuer, 7.125%, 6/01/2031 (n) | 4401000 | &nbsp;&nbsp;&nbsp; 4551063 |
|  |  | &nbsp;&nbsp;&nbsp; $146879043 |
| International Market Quasi-Sovereign – 0.7% | International Market Quasi-Sovereign – 0.7% | International Market Quasi-Sovereign – 0.7% |
| NBN Co. Ltd. (Commonwealth of Australia), 5.75%, 10/06/2028 (n) | $16054000 | &nbsp;&nbsp;&nbsp; $16695487 |
| Ontario Teachers' Cadillac Fairview Properties, 2.5%, 10/15/2031 (n) | 16065000 | &nbsp;&nbsp;&nbsp; 14053870 |
|  |  | &nbsp;&nbsp;&nbsp; $30749357 |
| International Market Sovereign – 0.6% | International Market Sovereign – 0.6% | International Market Sovereign – 0.6% |
| Government of Bermuda, 5%, 7/15/2032 (n)  | $25609000 | &nbsp;&nbsp;&nbsp; $25371605 |
| Machinery & Tools – 1.3% | Machinery & Tools – 1.3% | Machinery & Tools – 1.3% |
| AGCO Corp., 5.8%, 3/21/2034  | $7879000 | &nbsp;&nbsp;&nbsp; $8030073 |
| Ashtead Capital, Inc., 4.375%, 8/15/2027 (n) | 3228000 | &nbsp;&nbsp;&nbsp; 3203222 |
| Ashtead Capital, Inc., 5.55%, 5/30/2033 (n) | 9885000 | &nbsp;&nbsp;&nbsp; 9990833 |
| Ashtead Capital, Inc., 5.95%, 10/15/2033 (n) | 4502000 | &nbsp;&nbsp;&nbsp; 4671676 |
| CNH Industrial Capital LLC, 5.45%, 10/14/2025  | 17462000 | &nbsp;&nbsp;&nbsp; 17488701 |
| CNH Industrial Capital LLC, 5.5%, 1/12/2029  | 10984000 | &nbsp;&nbsp;&nbsp; 11299355 |
| CNH Industrial N.V., 3.85%, 11/15/2027  | 5323000 | &nbsp;&nbsp;&nbsp; 5260615 |
|  |  | &nbsp;&nbsp;&nbsp; $59944475 |
| Major Banks – 16.5% | Major Banks – 16.5% | Major Banks – 16.5% |
| Bank of America Corp., 4.376% to 4/27/2027, FLR (SOFR - 1 day + 1.58%) to 4/27/2028  | $13536000 | &nbsp;&nbsp;&nbsp; $13507506 |
| Bank of America Corp., 5.819% to 9/15/2028, FLR (SOFR - 1 day + 1.57%) to 9/15/2029  | 9904000 | &nbsp;&nbsp;&nbsp; 10289193 |
| Bank of America Corp., 2.687% to 4/22/2031, FLR (SOFR - 1 day + 1.32%) to 4/22/2032  | 12703000 | &nbsp;&nbsp;&nbsp; 11390589 |
| Bank of America Corp., 5.872% to 9/15/2033, FLR (SOFR - 1 day + 1.84%) to 9/15/2034  | 8451000 | &nbsp;&nbsp;&nbsp; 8902896 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Major Banks – continued | Major Banks – continued | Major Banks – continued |
| Bank of America Corp., 5.425% to 8/15/2034, FLR (SOFR - 1 day + 1.913%) to 8/15/2035  | $9737000 | &nbsp;&nbsp;&nbsp; $9754561 |
| Barclays PLC, 2.894% to 11/24/2031, FLR (CMT - 1yr. + 1.3%) to 11/24/2032  | 13347000 | &nbsp;&nbsp;&nbsp; 11819344 |
| Citigroup, Inc., 6.875% to 8/15/2030, FLR (CMT - 5yr. + 2.89%) to 11/15/2173  | 15830000 | &nbsp;&nbsp;&nbsp; 15964555 |
| Comerica, Inc., 5.982% to 1/30/2029, FLR (SOFR - 1 day + 2.155%) to 1/30/2030  | 14075000 | &nbsp;&nbsp;&nbsp; 14472703 |
| Commonwealth Bank of Australia, 3.61% to 9/12/2029, FLR (CMT - 1yr. + 2.05%) to 9/12/2034 (n) | 12534000 | &nbsp;&nbsp;&nbsp; 11880363 |
| Commonwealth Bank of Australia, 3.305%, 3/11/2041 (n) | 18459000 | &nbsp;&nbsp;&nbsp; 13674524 |
| Credit Agricole S.A., 1.247% to 1/26/2026, FLR (SOFR - 1 day + 0.89162%) to 1/26/2027 (n) | 24068000 | &nbsp;&nbsp;&nbsp; 23671265 |
| Danske Bank A.S., 5.705% to 3/01/2029, FLR (CMT - 1yr. + 1.4%) to 3/01/2030 (n) | 16262000 | &nbsp;&nbsp;&nbsp; 16829184 |
| Danske Bank A.S., 4.613% to 10/02/2029, FLR (CMT - 1yr. + 1.1%) to 10/02/2030 (n) | 5384000 | &nbsp;&nbsp;&nbsp; 5367576 |
| Deutsche Bank AG, 5.706% to 2/08/2027, FLR (SOFR - 1 day + 1.594%) to 2/08/2028  | 11827000 | &nbsp;&nbsp;&nbsp; 12002275 |
| Deutsche Bank AG, 5.373% to 1/10/2028, FLR (SOFR - 1 day + 1.21%) to 1/10/2029  | 14717000 | &nbsp;&nbsp;&nbsp; 14962136 |
| Deutsche Bank AG, 4.95% to 8/04/2030, FLR (SOFR - 1 day + 1.3%) to 8/04/2031 (w) | 7329000 | &nbsp;&nbsp;&nbsp; 7341135 |
| Deutsche Bank AG, 7.079% to 2/10/2033, FLR (SOFR - 1 day + 3.65%) to 2/10/2034  | 9995000 | &nbsp;&nbsp;&nbsp; 10772805 |
| Goldman Sachs Group, Inc., 4.692% to 10/23/2029, FLR (SOFR - 1 day + 1.135%) to 10/23/2030  | 9426000 | &nbsp;&nbsp;&nbsp; 9418762 |
| Goldman Sachs Group, Inc., 5.016% to 10/23/2034, FLR (SOFR - 1 day + 1.42%) to 10/23/2035  | 14169000 | &nbsp;&nbsp;&nbsp; 13975191 |
| HSBC Holdings PLC, 5.13% to 3/03/2030, FLR (SOFR - 1 day + 1.29%) to 3/03/2031  | 11995000 | &nbsp;&nbsp;&nbsp; 12160860 |
| HSBC Holdings PLC, 2.357% to 8/18/2030, FLR (SOFR - 1 day + 1.947%) to 8/18/2031  | 21465000 | &nbsp;&nbsp;&nbsp; 19099386 |
| HSBC Holdings PLC, 2.871% to 11/22/2031, FLR (SOFR - 1 day + 1.41%) to 11/22/2032  | 8263000 | &nbsp;&nbsp;&nbsp; 7317174 |
| HSBC Holdings PLC, 5.45% to 3/03/2035, FLR (SOFR - 1 day + 1.56%) to 3/03/2036  | 8020000 | &nbsp;&nbsp;&nbsp; 8070480 |
| JPMorgan Chase & Co., 6.07% to 10/22/2026, FLR (SOFR - 1 day + 1.33%) to 10/22/2027  | 25493000 | &nbsp;&nbsp;&nbsp; 25954954 |
| JPMorgan Chase & Co., 4.323% to 4/26/2027, FLR (SOFR - 1 day + 1.56%) to 4/26/2028  | 4363000 | &nbsp;&nbsp;&nbsp; 4350706 |
| JPMorgan Chase & Co., 3.54%, 5/01/2028  | 13887000 | &nbsp;&nbsp;&nbsp; 13662472 |
| JPMorgan Chase & Co., 5.581% to 4/22/2029, FLR (SOFR - 1 day + 1.16%) to 4/22/2030  | 9529000 | &nbsp;&nbsp;&nbsp; 9878050 |
| JPMorgan Chase & Co., 2.545% to 11/08/2031, FLR (SOFR - 1 day + 1.18%) to 11/08/2032  | 37249000 | &nbsp;&nbsp;&nbsp; 32748214 |
| JPMorgan Chase & Co., 5.336% to 1/23/2034, FLR (SOFR - 1 day + 1.62%) to 1/23/2035  | 5407000 | &nbsp;&nbsp;&nbsp; 5528079 |
| JPMorgan Chase & Co., 4.946% to 10/22/2034, FLR (SOFR - 1 day + 1.34%) to 10/22/2035  | 19973000 | &nbsp;&nbsp;&nbsp; 19751949 |
| Mitsubishi UFJ Financial Group, Inc., 1.64% to 10/13/2026, FLR (CMT - 1yr. + 0.67%) to 10/13/2027  | 14185000 | &nbsp;&nbsp;&nbsp; 13684942 |
| Mitsubishi UFJ Financial Group, Inc., 5.159%, 4/24/2031  | 6954000 | &nbsp;&nbsp;&nbsp; 7100035 |
| Morgan Stanley, 0.985% to 12/10/2025, FLR (SOFR - 1 day + 0.72%) to 12/10/2026  | 17246000 | &nbsp;&nbsp;&nbsp; 17016407 |
| Morgan Stanley, 5.449% to 7/20/2028, FLR (SOFR - 1 day + 1.63%) to 7/20/2029  | 4781000 | &nbsp;&nbsp;&nbsp; 4907459 |
| Morgan Stanley, 4.431% to 1/23/2029, FLR ((SOFR - 3mo. + 0.26161%) + 1.628%) to 1/23/2030  | 3224000 | &nbsp;&nbsp;&nbsp; 3213959 |
| Morgan Stanley, 3.622% to 4/01/2030, FLR (SOFR - 1 day + 3.12%) to 4/01/2031  | 23279000 | &nbsp;&nbsp;&nbsp; 22297629 |
| Morgan Stanley, 5.424% to 7/21/2033, FLR (SOFR - 1 day + 1.88%) to 7/21/2034  | 11137000 | &nbsp;&nbsp;&nbsp; 11405517 |
| National Australia Bank Ltd., 3.347% to 1/12/2032, FLR (CMT - 5yr. + 1.7%) to 1/12/2037 (n) | 21704000 | &nbsp;&nbsp;&nbsp; 19180518 |
| NatWest Group PLC, 5.847% to 3/02/2026, FLR (CMT - 1yr. + 1.35%) to 3/02/2027  | 10295000 | &nbsp;&nbsp;&nbsp; 10362633 |
| NatWest Group PLC, 5.583%, 3/01/2028  | 8000000 | &nbsp;&nbsp;&nbsp; 8121051 |
| NatWest Group PLC, 8.125% to 5/10/2034, FLR (CMT - 5yr. + 3.752%) to 6/30/2172  | 5914000 | &nbsp;&nbsp;&nbsp; 6479327 |
| Nordea Bank Abp, 1.5%, 9/30/2026 (n) | 16788000 | &nbsp;&nbsp;&nbsp; 16232339 |
| PNC Financial Services Group, Inc., 5.3% to 1/21/2027, FLR (SOFR - 1 day + 1.342%) to 1/21/2028  | 6731000 | &nbsp;&nbsp;&nbsp; 6809292 |
| PNC Financial Services Group, Inc., 5.676% to 1/22/2034, FLR (SOFR - 1 day + 1.902%) to 1/22/2035  | 8687000 | &nbsp;&nbsp;&nbsp; 9013269 |
| PNC Financial Services Group, Inc., 5.575% to 1/29/2035, FLR (SOFR - 1 day + 1.394%) to 1/29/2036  | 6505000 | &nbsp;&nbsp;&nbsp; 6670759 |
| Sumitomo Mitsui Financial Group, Inc., 1.71%, 1/12/2031  | 28730000 | &nbsp;&nbsp;&nbsp; 24633912 |
| Toronto-Dominion Bank, 4.108%, 6/08/2027  | 12741000 | &nbsp;&nbsp;&nbsp; 12684103 |
| Toronto-Dominion Bank, 4.693%, 9/15/2027  | 13991000 | &nbsp;&nbsp;&nbsp; 14075529 |
| UBS Group AG, 3.126% to 8/13/2029, FLR (LIBOR - 3mo. + 1.468%) to 8/13/2030 (n) | 35561000 | &nbsp;&nbsp;&nbsp; 33579136 |
| UBS Group AG, 5.58%, 5/09/2036 (n) | 23300000 | &nbsp;&nbsp;&nbsp; 23731060 |
| UBS Group AG, 4.375% to 2/10/2031, FLR (CMT - 1yr. + 3.313%) to 8/10/2171 (n) | 19449000 | &nbsp;&nbsp;&nbsp; 17431248 |
| UBS Group AG, 7% to 8/05/2035, FLR (USD SOFR ICE Swap Rate - 5yr. + 3.296%) to 8/05/2172 (n)(w) | 9319000 | &nbsp;&nbsp;&nbsp; 9319000 |
| UniCredit S.p.A., 2.569% to 9/22/2025, FLR (CMT - 1yr. + 2.3%) to 9/22/2026 (n) | 18700000 | &nbsp;&nbsp;&nbsp; 18633192 |
| UniCredit S.p.A., 1.982% to 6/03/2026, FLR (CMT - 1yr. + 1.2%) to 6/03/2027 (n) | 10140000 | &nbsp;&nbsp;&nbsp; 9920223 |
| Wells Fargo & Co., 5.574% to 7/25/2028, FLR (SOFR - 1 day + 1.74%) to 7/25/2029  | 10754000 | &nbsp;&nbsp;&nbsp; 11073243 |
| Wells Fargo & Co., 5.244% to 1/24/2030, FLR (SOFR - 1 day + 1.11%) to 1/24/2031  | 12007000 | &nbsp;&nbsp;&nbsp; 12292944 |
| Wells Fargo & Co., 5.389% to 4/24/2033, FLR (SOFR - 1 day + 2.02%) to 4/24/2034  | 4281000 | &nbsp;&nbsp;&nbsp; 4380138 |
|  |  | &nbsp;&nbsp;&nbsp; $748767751 |
| Medical & Health Technology & Services – 1.2% | Medical & Health Technology & Services – 1.2% | Medical & Health Technology & Services – 1.2% |
| Alcon Finance Corp., 2.6%, 5/27/2030 (n) | $12203000 | &nbsp;&nbsp;&nbsp; $11194296 |
| Alcon Finance Corp., 3.8%, 9/23/2049 (n) | 6904000 | &nbsp;&nbsp;&nbsp; 5117721 |
| Becton, Dickinson and Co., 4.685%, 12/15/2044  | 6838000 | &nbsp;&nbsp;&nbsp; 5951095 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Medical & Health Technology & Services – continued | Medical & Health Technology & Services – continued | Medical & Health Technology & Services – continued |
| ICON Investments Six DAC, 5.809%, 5/08/2027  | $17938000 | &nbsp;&nbsp;&nbsp; $18234784 |
| ICON Investments Six DAC, 5.849%, 5/08/2029  | 2916000 | &nbsp;&nbsp;&nbsp; 3023971 |
| Marin General Hospital, 7.242%, 8/01/2045  | 8685000 | &nbsp;&nbsp;&nbsp; 9548494 |
|  |  | &nbsp;&nbsp;&nbsp; $53070361 |
| Medical Equipment – 0.6% | Medical Equipment – 0.6% | Medical Equipment – 0.6% |
| Danaher Corp., 2.6%, 10/01/2050  | $16527000 | &nbsp;&nbsp;&nbsp; $9940262 |
| Stryker Corp., 4.625%, 9/11/2034  | 15607000 | &nbsp;&nbsp;&nbsp; 15259907 |
|  |  | &nbsp;&nbsp;&nbsp; $25200169 |
| Metals & Mining – 1.3% | Metals & Mining – 1.3% | Metals & Mining – 1.3% |
| FMG Resources Ltd., 4.375%, 4/01/2031 (n) | $19960000 | &nbsp;&nbsp;&nbsp; $18700538 |
| Novelis, Inc., 4.75%, 1/30/2030 (n) | 20774000 | &nbsp;&nbsp;&nbsp; 19899535 |
| Rio Tinto Finance (USA) PLC, 4.875%, 3/14/2030  | 7474000 | &nbsp;&nbsp;&nbsp; 7587017 |
| Rio Tinto Finance (USA) PLC, 5%, 3/14/2032  | 7260000 | &nbsp;&nbsp;&nbsp; 7373265 |
| Vale Overseas Ltd., 6.4%, 6/28/2054  | 6666000 | &nbsp;&nbsp;&nbsp; 6546252 |
|  |  | &nbsp;&nbsp;&nbsp; $60106607 |
| Midstream – 4.5% | Midstream – 4.5% | Midstream – 4.5% |
| Cheniere Energy Partners LP, 5.55%, 10/30/2035 (n) | $16893000 | &nbsp;&nbsp;&nbsp; $16978165 |
| Columbia Pipelines Holdings Co. LLC, 6.055%, 8/15/2026 (n) | 3370000 | &nbsp;&nbsp;&nbsp; 3405776 |
| Columbia Pipelines Operating Co. LLC, 6.497%, 8/15/2043 (n) | 8216000 | &nbsp;&nbsp;&nbsp; 8458399 |
| Columbia Pipelines Operating Co. LLC, 6.544%, 11/15/2053 (n) | 8633000 | &nbsp;&nbsp;&nbsp; 8915742 |
| Eastern Energy Gas Holdings LLC, 5.65%, 10/15/2054  | 18259000 | &nbsp;&nbsp;&nbsp; 17480060 |
| Enbridge, Inc., 5.95%, 4/05/2054  | 6760000 | &nbsp;&nbsp;&nbsp; 6696018 |
| Energy Transfer LP, 4%, 10/01/2027  | 6789000 | &nbsp;&nbsp;&nbsp; 6721972 |
| Energy Transfer LP, 5.95%, 5/15/2054  | 7124000 | &nbsp;&nbsp;&nbsp; 6733784 |
| Energy Transfer LP, 7.125% to 5/15/2030, FLR (CMT - 5yr. + 5.306%) to 5/15/2171  | 6504000 | &nbsp;&nbsp;&nbsp; 6659016 |
| Galaxy Pipeline Assets Bidco Ltd., 1.75%, 9/30/2027 (n) | 9654698 | &nbsp;&nbsp;&nbsp; 9327545 |
| Plains All American Pipeline LP, 5.95%, 6/15/2035  | 10914000 | &nbsp;&nbsp;&nbsp; 11200732 |
| Plains All American Pipeline LP, 4.9%, 2/15/2045  | 13471000 | &nbsp;&nbsp;&nbsp; 11451996 |
| Rockies Express Pipeline LLC, 4.95%, 7/15/2029 (n) | 15327000 | &nbsp;&nbsp;&nbsp; 15027567 |
| Rockies Express Pipeline LLC, 7.5%, 7/15/2038 (n) | 6372000 | &nbsp;&nbsp;&nbsp; 6555444 |
| Rockies Express Pipeline LLC, 6.875%, 4/15/2040 (n) | 3106000 | &nbsp;&nbsp;&nbsp; 3126490 |
| Targa Resources Corp., 4.2%, 2/01/2033  | 7413000 | &nbsp;&nbsp;&nbsp; 6930508 |
| Targa Resources Corp., 4.95%, 4/15/2052  | 20769000 | &nbsp;&nbsp;&nbsp; 17219164 |
| Targa Resources Corp., 6.25%, 7/01/2052  | 3900000 | &nbsp;&nbsp;&nbsp; 3843449 |
| Venture Global Calcasieu Pass LLC, 6.25%, 1/15/2030 (n) | 4378000 | &nbsp;&nbsp;&nbsp; 4496245 |
| Venture Global Calcasieu Pass LLC, 4.125%, 8/15/2031 (n) | 12365000 | &nbsp;&nbsp;&nbsp; 11421386 |
| Venture Global LNG, Inc., 9% to 9/30/2029, FLR (CMT - 5yr. + 5.44%) to 3/30/2173 (n) | 10694000 | &nbsp;&nbsp;&nbsp; 10696727 |
| Venture Global Plaquemines LNG LLC, 6.5%, 1/15/2034 (n) | 5043000 | &nbsp;&nbsp;&nbsp; 5187992 |
| Venture Global Plaquemines LNG LLC, 6.75%, 1/15/2036 (n) | 4874000 | &nbsp;&nbsp;&nbsp; 5013911 |
|  |  | &nbsp;&nbsp;&nbsp; $203548088 |
| Municipals – 0.6% | Municipals – 0.6% | Municipals – 0.6% |
| Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Taxable, "B", 2.746%, 6/01/2034  | $9830000 | &nbsp;&nbsp;&nbsp; $8491632 |
| Massachusetts Educational Financing Authority, Education Loan Rev., Taxable, "A", 6.352%, 7/01/2049  | 9330000 | &nbsp;&nbsp;&nbsp; 9530386 |
| National Finance Authority, NH, Utility Refunding Rev., Taxable (Wheeling Power Co. Project), "A", 6.89%, 4/01/2034  | 9495000 | &nbsp;&nbsp;&nbsp; 9786683 |
|  |  | &nbsp;&nbsp;&nbsp; $27808701 |
| Natural Gas - Distribution – 0.4% | Natural Gas - Distribution – 0.4% | Natural Gas - Distribution – 0.4% |
| Boston Gas Co., 5.843%, 1/10/2035 (n)  | $18170000 | &nbsp;&nbsp;&nbsp; $18908778 |
| Natural Gas - Pipeline – 0.5% | Natural Gas - Pipeline – 0.5% | Natural Gas - Pipeline – 0.5% |
| APA Infrastructure Ltd., 5%, 3/23/2035 (n) | $8925000 | &nbsp;&nbsp;&nbsp; $8567826 |
| APA Infrastructure Ltd., 5.75%, 9/16/2044 (n) | 14050000 | &nbsp;&nbsp;&nbsp; 13510210 |
|  |  | &nbsp;&nbsp;&nbsp; $22078036 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Network & Telecom – 0.5% | Network & Telecom – 0.5% | Network & Telecom – 0.5% |
| NTT Finance Corp., 5.171%, 7/16/2032 (n) | $15965000 | &nbsp;&nbsp;&nbsp; $16102817 |
| NTT Finance Corp., 5.502%, 7/16/2035 (n) | 4761000 | &nbsp;&nbsp;&nbsp; 4834786 |
|  |  | &nbsp;&nbsp;&nbsp; $20937603 |
| Oils – 0.9% | Oils – 0.9% | Oils – 0.9% |
| Marathon Petroleum Corp., 5.7%, 3/01/2035  | $12828000 | &nbsp;&nbsp;&nbsp; $13015275 |
| MC Brazil Downstream Trading S.à r.l., 7.25%, 6/30/2031  | 15149052 | &nbsp;&nbsp;&nbsp; 12341933 |
| Raizen Fuels Finance S.A., 6.25%, 7/08/2032 (n) | 17023000 | &nbsp;&nbsp;&nbsp; 16742121 |
|  |  | &nbsp;&nbsp;&nbsp; $42099329 |
| Other Banks & Diversified Financials – 2.8% | Other Banks & Diversified Financials – 2.8% | Other Banks & Diversified Financials – 2.8% |
| AIB Group PLC, 6.608% to 9/13/2028, FLR (SOFR - 1 day + 2.33%) to 9/13/2029 (n) | $21135000 | &nbsp;&nbsp;&nbsp; $22305082 |
| AIB Group PLC, 5.871% to 3/28/2034, FLR (SOFR - 1 day + 1.91%) to 3/28/2035 (n) | 3642000 | &nbsp;&nbsp;&nbsp; 3750047 |
| BBVA Bancomer S.A. (Texas), 8.125%, 1/08/2039 (n) | 11170000 | &nbsp;&nbsp;&nbsp; 11671876 |
| BPCE S.A., 5.716% to 1/18/2029, FLR (CMT - 1yr. + 1.959%) to 1/18/2030 (n) | 12906000 | &nbsp;&nbsp;&nbsp; 13267081 |
| CaixaBank S.A., 5.673% to 3/15/2029, FLR (SOFR - 1 day + 1.78%) to 3/15/2030 (n) | 5811000 | &nbsp;&nbsp;&nbsp; 5999137 |
| CaixaBank S.A., 6.84% to 9/13/2033, FLR (SOFR - 1 day + 2.77%) to 9/13/2034 (n) | 21476000 | &nbsp;&nbsp;&nbsp; 23609671 |
| M&T Bank Corp., 7.413% to 10/30/2028, FLR (SOFR - 1 day + 2.80%) to 10/30/2029  | 4193000 | &nbsp;&nbsp;&nbsp; 4538334 |
| M&T Bank Corp., 5.053% to 1/27/2033, FLR (SOFR - 1 day + 1.850%) to 1/27/2034  | 9528000 | &nbsp;&nbsp;&nbsp; 9392207 |
| Macquarie Bank Ltd. of London, 6.125% to 3/08/2027, FLR (Swap Rate - 5yr. + 4.332%) to 12/31/2165 (n) | 3736000 | &nbsp;&nbsp;&nbsp; 3772848 |
| Manufacturers and Traders Trust Co., 4.7%, 1/27/2028  | 11201000 | &nbsp;&nbsp;&nbsp; 11269038 |
| Truist Financial Corp., 7.161% to 10/30/2028, FLR (SOFR - 1 day + 2.446%) to 10/30/2029  | 12447000 | &nbsp;&nbsp;&nbsp; 13435735 |
| Truist Financial Corp., 5.153% to 8/05/2031, FLR (SOFR - 1 day + 1.571%) to 8/05/2032  | 4640000 | &nbsp;&nbsp;&nbsp; 4719193 |
|  |  | &nbsp;&nbsp;&nbsp; $127730249 |
| Pharmaceuticals – 1.6% | Pharmaceuticals – 1.6% | Pharmaceuticals – 1.6% |
| AbbVie, Inc., 5.35%, 3/15/2044  | $14936000 | &nbsp;&nbsp;&nbsp; $14589909 |
| AbbVie, Inc., 5.4%, 3/15/2054  | 8759000 | &nbsp;&nbsp;&nbsp; 8440300 |
| Biogen, Inc., 5.05%, 1/15/2031  | 12034000 | &nbsp;&nbsp;&nbsp; 12197185 |
| Eli Lilly & Co., 5.5%, 2/12/2055  | 6063000 | &nbsp;&nbsp;&nbsp; 6034396 |
| Pfizer Investment Enterprises Pte. Ltd., 5.3%, 5/19/2053  | 8900000 | &nbsp;&nbsp;&nbsp; 8310432 |
| Pfizer, Inc., 2.55%, 5/28/2040  | 7976000 | &nbsp;&nbsp;&nbsp; 5672165 |
| Roche Holdings, Inc., 5.338%, 11/13/2028 (n) | 8944000 | &nbsp;&nbsp;&nbsp; 9230101 |
| Roche Holdings, Inc., 5.489%, 11/13/2030 (n) | 7259000 | &nbsp;&nbsp;&nbsp; 7623824 |
|  |  | &nbsp;&nbsp;&nbsp; $72098312 |
| Pollution Control – 0.2% | Pollution Control – 0.2% | Pollution Control – 0.2% |
| GFL Environmental, Inc., 3.5%, 9/01/2028 (n) | $7073000 | &nbsp;&nbsp;&nbsp; $6819212 |
| GFL Environmental, Inc., 6.75%, 1/15/2031 (n) | 4300000 | &nbsp;&nbsp;&nbsp; 4456252 |
|  |  | &nbsp;&nbsp;&nbsp; $11275464 |
| Precious Metals & Minerals – 0.7% | Precious Metals & Minerals – 0.7% | Precious Metals & Minerals – 0.7% |
| IAMGOLD Corp., 5.75%, 10/15/2028 (n) | $13761000 | &nbsp;&nbsp;&nbsp; $13609329 |
| Northern Star Resources Ltd. Co., 6.125%, 4/11/2033 (n) | 15415000 | &nbsp;&nbsp;&nbsp; 15977735 |
|  |  | &nbsp;&nbsp;&nbsp; $29587064 |
| Railroad & Shipping – 0.8% | Railroad & Shipping – 0.8% | Railroad & Shipping – 0.8% |
| Burlington Northern Santa Fe LLC, 5.2%, 4/15/2054  | $15724000 | &nbsp;&nbsp;&nbsp; $14678908 |
| Burlington Northern Sante Fe LLC, 5.5%, 3/15/2055  | 8973000 | &nbsp;&nbsp;&nbsp; 8759680 |
| Canadian Pacific Railway Co., 3.1%, 12/02/2051  | 21527000 | &nbsp;&nbsp;&nbsp; 14059466 |
|  |  | &nbsp;&nbsp;&nbsp; $37498054 |
| Real Estate - Apartment – 0.7% | Real Estate - Apartment – 0.7% | Real Estate - Apartment – 0.7% |
| American Homes 4 Rent LP, REIT, 5.5%, 7/15/2034  | $6707000 | &nbsp;&nbsp;&nbsp; $6796828 |
| American Homes 4 Rent LP, REIT, 5.25%, 3/15/2035  | 22341000 | &nbsp;&nbsp;&nbsp; 22178981 |
| American Homes 4 Rent LP, REIT, 4.3%, 4/15/2052  | 6036000 | &nbsp;&nbsp;&nbsp; 4684345 |
|  |  | &nbsp;&nbsp;&nbsp; $33660154 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Real Estate - Office – 1.3% | Real Estate - Office – 1.3% | Real Estate - Office – 1.3% |
| Boston Properties LP, REIT, 3.65%, 2/01/2026  | $11718000 | &nbsp;&nbsp;&nbsp; $11655213 |
| Boston Properties LP, REIT, 2.75%, 10/01/2026  | 9750000 | &nbsp;&nbsp;&nbsp; 9537739 |
| Corporate Office Property LP, REIT, 2%, 1/15/2029  | 15034000 | &nbsp;&nbsp;&nbsp; 13727310 |
| Corporate Office Property LP, REIT, 2.75%, 4/15/2031  | 17594000 | &nbsp;&nbsp;&nbsp; 15588644 |
| Cousins Properties, Inc., REIT, 5.875%, 10/01/2034  | 8148000 | &nbsp;&nbsp;&nbsp; 8383038 |
|  |  | &nbsp;&nbsp;&nbsp; $58891944 |
| Real Estate - Other – 0.7% | Real Estate - Other – 0.7% | Real Estate - Other – 0.7% |
| EPR Properties, REIT, 3.6%, 11/15/2031  | $4426000 | &nbsp;&nbsp;&nbsp; $3997390 |
| Lexington Realty Trust Co., 2.375%, 10/01/2031  | 16265000 | &nbsp;&nbsp;&nbsp; 13717207 |
| Prologis LP, REIT, 5.125%, 1/15/2034  | 14126000 | &nbsp;&nbsp;&nbsp; 14279041 |
|  |  | &nbsp;&nbsp;&nbsp; $31993638 |
| Real Estate - Retail – 0.9% | Real Estate - Retail – 0.9% | Real Estate - Retail – 0.9% |
| NNN REIT, Inc., 5.6%, 10/15/2033  | $13247000 | &nbsp;&nbsp;&nbsp; $13672082 |
| STORE Capital Corp., REIT, 4.625%, 3/15/2029  | 6457000 | &nbsp;&nbsp;&nbsp; 6354818 |
| STORE Capital Corp., REIT, 2.75%, 11/18/2030  | 3448000 | &nbsp;&nbsp;&nbsp; 3061857 |
| STORE Capital Corp., REIT, 2.7%, 12/01/2031  | 23100000 | &nbsp;&nbsp;&nbsp; 19664666 |
|  |  | &nbsp;&nbsp;&nbsp; $42753423 |
| Retailers – 1.3% | Retailers – 1.3% | Retailers – 1.3% |
| Alimentation Couche-Tard, Inc., 3.8%, 1/25/2050 (n) | $12247000 | &nbsp;&nbsp;&nbsp; $8907900 |
| Amazon.com, Inc., 3.6%, 4/13/2032  | 12124000 | &nbsp;&nbsp;&nbsp; 11570253 |
| Home Depot, Inc., 4.85%, 6/25/2031  | 4354000 | &nbsp;&nbsp;&nbsp; 4440679 |
| Home Depot, Inc., 3.3%, 4/15/2040  | 15616000 | &nbsp;&nbsp;&nbsp; 12362175 |
| Home Depot, Inc., 3.9%, 6/15/2047  | 2382000 | &nbsp;&nbsp;&nbsp; 1861058 |
| Parkland Corp., 6.625%, 8/15/2032 (n) | 18222000 | &nbsp;&nbsp;&nbsp; 18625307 |
|  |  | &nbsp;&nbsp;&nbsp; $57767372 |
| Specialty Chemicals – 0.3% | Specialty Chemicals – 0.3% | Specialty Chemicals – 0.3% |
| International Flavors & Fragrances, Inc., 1.23%, 10/01/2025 (n) | $3391000 | &nbsp;&nbsp;&nbsp; $3368033 |
| International Flavors & Fragrances, Inc., 5%, 9/26/2048  | 12729000 | &nbsp;&nbsp;&nbsp; 10867734 |
|  |  | &nbsp;&nbsp;&nbsp; $14235767 |
| Specialty Stores – 0.2% | Specialty Stores – 0.2% | Specialty Stores – 0.2% |
| DICK'S Sporting Goods, 4.1%, 1/15/2052  | $12244000 | &nbsp;&nbsp;&nbsp; $8736201 |
| Supermarkets – 0.4% | Supermarkets – 0.4% | Supermarkets – 0.4% |
| Kroger Co., 5%, 9/15/2034  | $7927000 | &nbsp;&nbsp;&nbsp; $7841398 |
| Kroger Co., 5.5%, 9/15/2054  | 12325000 | &nbsp;&nbsp;&nbsp; 11630318 |
|  |  | &nbsp;&nbsp;&nbsp; $19471716 |
| Telecommunications - Wireless – 2.2% | Telecommunications - Wireless – 2.2% | Telecommunications - Wireless – 2.2% |
| American Tower Corp., 5.2%, 2/15/2029  | $11727000 | &nbsp;&nbsp;&nbsp; $11963213 |
| American Tower Corp., 5.45%, 2/15/2034  | 10065000 | &nbsp;&nbsp;&nbsp; 10306019 |
| American Tower Corp., 3.7%, 10/15/2049  | 6193000 | &nbsp;&nbsp;&nbsp; 4493303 |
| Cellnex Finance Co. S.A., 3.875%, 7/07/2041 (n) | 20384000 | &nbsp;&nbsp;&nbsp; 15902967 |
| Crown Castle, Inc., REIT, 4.45%, 2/15/2026  | 8755000 | &nbsp;&nbsp;&nbsp; 8743250 |
| Rogers Communications, Inc., 4.5%, 3/15/2042  | 8577000 | &nbsp;&nbsp;&nbsp; 7348366 |
| Rogers Communications, Inc., 4.55%, 3/15/2052  | 3085000 | &nbsp;&nbsp;&nbsp; 2502450 |
| T-Mobile USA, Inc., 5.05%, 7/15/2033  | 8401000 | &nbsp;&nbsp;&nbsp; 8414044 |
| T-Mobile USA, Inc., 3%, 2/15/2041  | 17961000 | &nbsp;&nbsp;&nbsp; 13140138 |
| Vodafone Group PLC, 5.625%, 2/10/2053  | 16182000 | &nbsp;&nbsp;&nbsp; 15293595 |
|  |  | &nbsp;&nbsp;&nbsp; $98107345 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Tobacco – 1.0% | Tobacco – 1.0% | Tobacco – 1.0% |
| B.A.T. Capital Corp., 6.343%, 8/02/2030  | $12025000 | &nbsp;&nbsp;&nbsp; $12891361 |
| Imperial Brands Finance PLC, 5.5%, 2/01/2030 (n) | 15174000 | &nbsp;&nbsp;&nbsp; 15600605 |
| Japan Tobacco, Inc., 5.25%, 6/15/2030 (n) | 15373000 | &nbsp;&nbsp;&nbsp; 15778734 |
|  |  | &nbsp;&nbsp;&nbsp; $44270700 |
| Transportation - Services – 0.7% | Transportation - Services – 0.7% | Transportation - Services – 0.7% |
| Element Fleet Management Corp., 6.319%, 12/04/2028 (n) | $19070000 | &nbsp;&nbsp;&nbsp; $20030172 |
| Element Fleet Management Corp., 5.037%, 3/25/2030 (n) | 11010000 | &nbsp;&nbsp;&nbsp; 11104725 |
|  |  | &nbsp;&nbsp;&nbsp; $31134897 |
| U.S. Treasury Obligations – 1.3% | U.S. Treasury Obligations – 1.3% | U.S. Treasury Obligations – 1.3% |
| U.S. Treasury Bonds, 5%, 5/15/2045 (f) | $31005000 | &nbsp;&nbsp;&nbsp; $31460386 |
| U.S. Treasury Bonds, 4.625%, 5/15/2044 (f) | 9296000 | &nbsp;&nbsp;&nbsp; 9014941 |
| U.S. Treasury Bonds, 4.125%, 8/15/2044  | 9915000 | &nbsp;&nbsp;&nbsp; 8977723 |
| U.S. Treasury Bonds, 4.75%, 2/15/2045  | 9101000 | &nbsp;&nbsp;&nbsp; 8945998 |
|  |  | &nbsp;&nbsp;&nbsp; $58399048 |
| Utilities - Electric Power – 9.5% | Utilities - Electric Power – 9.5% | Utilities - Electric Power – 9.5% |
| Adani Electricity Mumbai Ltd., 3.867%, 7/22/2031 (n) | $4802000 | &nbsp;&nbsp;&nbsp; $4220937 |
| Adani Transmission Ltd., 4.25%, 5/21/2036  | 4769090 | &nbsp;&nbsp;&nbsp; 4117301 |
| Adani Transmission Step-One Ltd., 4%, 8/03/2026  | 14632000 | &nbsp;&nbsp;&nbsp; 14453207 |
| AEP Transmission Co. LLC, 5.375%, 6/15/2035  | 9949000 | &nbsp;&nbsp;&nbsp; 10111498 |
| AEP Transmission Co. LLC, 5.4%, 3/15/2053  | 5852000 | &nbsp;&nbsp;&nbsp; 5621793 |
| Algonquin Power & Utilities Corp., 5.365%, 6/15/2026  | 5767000 | &nbsp;&nbsp;&nbsp; 5797574 |
| American Transmission Systems, Inc., 2.65%, 1/15/2032 (n) | 4691000 | &nbsp;&nbsp;&nbsp; 4126451 |
| Berkshire Hathaway Energy Co., 5.15%, 11/15/2043  | 3795000 | &nbsp;&nbsp;&nbsp; 3583678 |
| Berkshire Hathaway Energy Co., 4.6%, 5/01/2053  | 3159000 | &nbsp;&nbsp;&nbsp; 2646905 |
| DTE Energy Co., 4.95%, 7/01/2027  | 11963000 | &nbsp;&nbsp;&nbsp; 12071112 |
| Duke Energy Carolinas LLC, 2.45%, 2/01/2030  | 15465000 | &nbsp;&nbsp;&nbsp; 14244122 |
| Duke Energy Florida LLC, 3.4%, 10/01/2046  | 5361000 | &nbsp;&nbsp;&nbsp; 3827480 |
| Duke Energy Florida LLC, 6.2%, 11/15/2053  | 8443000 | &nbsp;&nbsp;&nbsp; 8997727 |
| Enel Finance International N.V., 4.625%, 6/15/2027 (n) | 13065000 | &nbsp;&nbsp;&nbsp; 13099538 |
| Enel Finance International N.V., 2.5%, 7/12/2031 (n) | 7340000 | &nbsp;&nbsp;&nbsp; 6465768 |
| Enel Finance International N.V., 5.5%, 6/15/2052 (n) | 4500000 | &nbsp;&nbsp;&nbsp; 4181586 |
| Enel Finance International N.V., 7.75%, 10/14/2052 (n) | 9393000 | &nbsp;&nbsp;&nbsp; 11313705 |
| ENGIE Energia Chile S.A., 6.375%, 4/17/2034 (n) | 14914000 | &nbsp;&nbsp;&nbsp; 15645159 |
| ENGIE Energía Chile S.A., 3.4%, 1/28/2030 (n) | 4638000 | &nbsp;&nbsp;&nbsp; 4309619 |
| Eversource Energy, 5.5%, 1/01/2034  | 11861000 | &nbsp;&nbsp;&nbsp; 12064256 |
| FirstEnergy Corp., 3.9%, 7/15/2027  | 13529000 | &nbsp;&nbsp;&nbsp; 13361113 |
| FirstEnergy Corp., 3.4%, 3/01/2050  | 16280000 | &nbsp;&nbsp;&nbsp; 10981219 |
| Florida Power & Light Co., 2.45%, 2/03/2032  | 6909000 | &nbsp;&nbsp;&nbsp; 6091509 |
| Florida Power & Light Co., 3.95%, 3/01/2048  | 8281000 | &nbsp;&nbsp;&nbsp; 6553484 |
| Georgia Power Co., 4.7%, 5/15/2032  | 4686000 | &nbsp;&nbsp;&nbsp; 4690515 |
| Georgia Power Co., 4.95%, 5/17/2033  | 3562000 | &nbsp;&nbsp;&nbsp; 3578235 |
| Georgia Power Co., 5.125%, 5/15/2052  | 13035000 | &nbsp;&nbsp;&nbsp; 12127897 |
| Jersey Central Power & Light Co., 2.75%, 3/01/2032 (n) | 22679000 | &nbsp;&nbsp;&nbsp; 19884938 |
| Jersey Central Power & Light Co., 5.1%, 1/15/2035  | 3866000 | &nbsp;&nbsp;&nbsp; 3850059 |
| MidAmerican Energy Co., 5.85%, 9/15/2054  | 14824000 | &nbsp;&nbsp;&nbsp; 15134205 |
| Northern States Power Co. of Minnesota, 5.05%, 5/15/2035  | 15877000 | &nbsp;&nbsp;&nbsp; 15960423 |
| Oncor Electric Delivery Co. LLC, 5.35%, 4/01/2035 (n) | 19936000 | &nbsp;&nbsp;&nbsp; 20328421 |
| Pacific Gas & Electric Co., 5.45%, 6/15/2027  | 8293000 | &nbsp;&nbsp;&nbsp; 8397563 |
| Pacific Gas & Electric Co., 2.5%, 2/01/2031  | 14966000 | &nbsp;&nbsp;&nbsp; 13066089 |
| Pacific Gas & Electric Co., 4%, 12/01/2046  | 9079000 | &nbsp;&nbsp;&nbsp; 6579030 |
| PPL Electric Utilities Corp., 4.85%, 2/15/2034  | 11696000 | &nbsp;&nbsp;&nbsp; 11628747 |
| PSEG Power LLC, 5.2%, 5/15/2030 (n) | 12874000 | &nbsp;&nbsp;&nbsp; 13154067 |
| PSEG Power LLC, 5.75%, 5/15/2035 (n) | 10101000 | &nbsp;&nbsp;&nbsp; 10402960 |
| Public Service Electric & Gas Co., 5.5%, 3/01/2055  | 7751000 | &nbsp;&nbsp;&nbsp; 7636217 |
| Southern California Edison Co., 5.45%, 3/01/2035  | 2975000 | &nbsp;&nbsp;&nbsp; 2963311 |
| Southern California Edison Co., 4.5%, 9/01/2040  | 6030000 | &nbsp;&nbsp;&nbsp; 5176575 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Utilities - Electric Power – continued | Utilities - Electric Power – continued | Utilities - Electric Power – continued |
| WEC Energy Group, Inc., 4.75%, 1/09/2026  | 22326000 | &nbsp;&nbsp;&nbsp; $22327229 |
| Xcel Energy, Inc., 5.5%, 3/15/2034  | 17216000 | &nbsp;&nbsp;&nbsp; 17479810 |
| Xcel Energy, Inc., 5.6%, 4/15/2035  | 2148000 | &nbsp;&nbsp;&nbsp; 2187842 |
| XPLR Infrastructure Operating Partners LP, 7.25%, 1/15/2029 (n) | 5000000 | &nbsp;&nbsp;&nbsp; 5099018 |
| XPLR Infrastructure Operating Partners LP, 8.375%, 1/15/2031 (n) | 8777000 | &nbsp;&nbsp;&nbsp; 9206186 |
| XPLR Infrastructure Operating Partners LP, 8.625%, 3/15/2033 (n) | 2010000 | &nbsp;&nbsp;&nbsp; 2128940 |
|  |  | &nbsp;&nbsp;&nbsp; $430875018 |
| **Total Bonds**  |  | &nbsp;&nbsp; **$4470447677** |
| Mutual Funds (h) – 1.2%  | Mutual Funds (h) – 1.2%  | Mutual Funds (h) – 1.2%  |
| Money Market Funds – 1.2% | Money Market Funds – 1.2% |  |
| MFS Institutional Money Market Portfolio, 4.35% (v)  | 56131669 | &nbsp;&nbsp;&nbsp; $56131669 |
| Other Assets, Less Liabilities – 0.4% |  | &nbsp;&nbsp;&nbsp; 17231796 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$4543811142** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(f) All or a portion of the security has been segregated as collateral for open futures
 contracts.

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $56,131,669 and $4,470,447,677, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Interest only security for which the fund receives interest on notional principal
 (Par amount). Par amount shown is the notional principal and does not reflect the cost of the security.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Securities exempt from registration under Rule 144A of the Securities Act of 1933.
 These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers.
 At period end, the aggregate value of these securities was $1,764,501,506, representing 38.8% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

&nbsp;&nbsp;&nbsp;&nbsp;(w) When-issued security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| The following abbreviations are used in this report and are defined: | The following abbreviations are used in this report and are defined: |
| CLO | Collateralized Loan Obligation |
| CMT | Constant Maturity Treasury  |
| FLR | Floating Rate. Interest rate resets periodically based on the parenthetically disclosed reference rate plus a spread (if any). The period-end rate <br> reported may not be the current rate. All reference rates are USD unless otherwise noted.<br>|
| ICE | Intercontinental Exchange |
| LIBOR | London Interbank Offered Rate |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Derivative Contracts at 7/31/25** | **Derivative Contracts at 7/31/25** | **Derivative Contracts at 7/31/25** | **Derivative Contracts at 7/31/25** | **Derivative Contracts at 7/31/25** | **Derivative Contracts at 7/31/25** | **Derivative Contracts at 7/31/25** |
| **Futures Contracts**  | **Futures Contracts**  | **Futures Contracts**  | **Futures Contracts**  | **Futures Contracts**  | **Futures Contracts**  | **Futures Contracts**  |
| **Description** | **Long/** <br>**Short**<br>| **Currency** | **Contracts** | &nbsp;&nbsp; **Notional** <br>**Amount**<br>| &nbsp;&nbsp; **Expiration** <br>**Date**<br>| **Value/Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** |
| ***Interest Rate Futures***  | ***Interest Rate Futures***  | ***Interest Rate Futures***  | ***Interest Rate Futures***  | ***Interest Rate Futures***  |  |  |
| U.S. Treasury Bond 30 yr | &nbsp;&nbsp; Long | &nbsp;&nbsp; USD | &nbsp;&nbsp; 1078 | $123094125 | September – 2025 | &nbsp;&nbsp; $2926215 |
| U.S. Treasury Ultra Bond 30 yr | &nbsp;&nbsp; Long | &nbsp;&nbsp; USD | &nbsp;&nbsp; 621 | 72851063 | September – 2025 | &nbsp;&nbsp; 1590279 |
|  |  |  |  |  |  | &nbsp;&nbsp; $4516494 |
| **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| ***Interest Rate Futures***  | ***Interest Rate Futures***  | ***Interest Rate Futures***  | ***Interest Rate Futures***  | ***Interest Rate Futures***  |  |  |
| U.S. Treasury Note 10 yr | &nbsp;&nbsp; Short | &nbsp;&nbsp; USD | &nbsp;&nbsp; 90 | $9995625 | September – 2025 | &nbsp;&nbsp; $(55889)<br>|
| U.S. Treasury Note 2 yr | &nbsp;&nbsp; Long | &nbsp;&nbsp; USD | &nbsp;&nbsp; 729 | 150891610 | September – 2025 | &nbsp;&nbsp; (110840)<br>|
| U.S. Treasury Note 5 yr | &nbsp;&nbsp; Short | &nbsp;&nbsp; USD | &nbsp;&nbsp; 843 | 91188891 | September – 2025 | &nbsp;&nbsp; (81567)<br>|

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Futures Contracts - continued**  | **Futures Contracts - continued**  | **Futures Contracts - continued**  | **Futures Contracts - continued**  | **Futures Contracts - continued**  | **Futures Contracts - continued**  | **Futures Contracts - continued**  |
| **Description** | **Long/**<br> **Short**<br>| **Currency** | **Contracts** | &nbsp;&nbsp; **Notional**<br> **Amount**<br>| &nbsp;&nbsp; **Expiration**<br> **Date**<br>| **Value/Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>|
| **Liability Derivatives - continued** | **Liability Derivatives - continued** | **Liability Derivatives - continued** | **Liability Derivatives - continued** | **Liability Derivatives - continued** | **Liability Derivatives - continued** | **Liability Derivatives - continued** |
| ***Interest Rate Futures - continued*** | ***Interest Rate Futures - continued*** | ***Interest Rate Futures - continued*** | ***Interest Rate Futures - continued*** | ***Interest Rate Futures - continued*** |  |  |
| U.S. Treasury Ultra Note 10 yr | &nbsp;&nbsp; Short | &nbsp;&nbsp; USD | &nbsp;&nbsp; 104 | $11760125 | September – 2025 | &nbsp;&nbsp; $(88135)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp; $(336431)<br>|

---

At July 31, 2025, the fund had liquid securities with an aggregate value of $7,580,795 to cover any collateral or margin obligations for certain derivative contracts.

See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.

------

**Supplemental Information**

7/31/25 (unaudited)

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial

Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(1) Investment Valuations**

Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, debt instruments and floating rate loans, including restricted debt instruments, are

generally valued at an evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at

issuance of 60 days or less may be valued at amortized cost, which approximates market value. Futures contracts are generally valued at last posted settlement price on their primary exchange as provided by a third-party pricing service. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation on their primary exchange as provided by a

third-party pricing service. Open-end investment companies are generally valued at net asset value per share. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. Pricing services generally value debt instruments assuming orderly transactions of institutional round lot sizes, but a fund may hold or transact in such securities in smaller, odd lot sizes. In instances where a fund holds an odd lot size position in a debt instrument, such position will typically be valued using the pricing agent's institutional round lot price for the debt instrument. Odd lots may trade at lower prices than institutional round lots, and the fund may receive different prices when it sells odd lot positions than it would receive for sales of institutional round lot positions. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net

asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk).

------

*Supplemental Information (unaudited) – continued*

Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. Other financial instruments are derivative instruments, such as futures contracts. The following is a summary of the levels used as of July 31, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| U.S. Treasury Bonds & U.S. Government Agencies & Equivalents | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $58399048 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $58399048 |
| Non - U.S. Sovereign Debt | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 126768042 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 126768042 |
| Municipal Bonds | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 27808701 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 27808701 |
| U.S. Corporate Bonds | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2850483351 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2850483351 |
| Residential Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 56285102 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 56285102 |
| Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 47136656 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 47136656 |
| Asset-Backed Securities (including CDOs) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 52398265 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 52398265 |
| Foreign Bonds | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1251168512 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1251168512 |
| Investment Companies | &nbsp;&nbsp;&nbsp; 56131669 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 56131669 |
| Total | &nbsp;&nbsp;&nbsp; $56131669 | &nbsp;&nbsp;&nbsp; $4470447677 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $4526579346 |
| **Other Financial Instruments** |  |  |  |  |
| Futures Contracts – Assets | &nbsp;&nbsp;&nbsp; $4516494 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $4516494 |
| Futures Contracts – Liabilities | &nbsp;&nbsp;&nbsp; (336431)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (336431)<br>|

---

For further information regarding security characteristics, see the Portfolio of Investments.

**(2) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the following were affiliated issuers for the period ended July 31, 2025:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | **Beginning** <br>**Value**<br>| **Purchases** | **Sales** <br>**Proceeds**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation or** <br>**Depreciation**<br>| **Ending** <br>**Value**<br>|
| MFS Institutional Money Market Portfolio  | &nbsp;&nbsp; $97863104 | &nbsp;&nbsp; $299978906 | &nbsp;&nbsp; $341701804 | &nbsp;&nbsp; $(10114)<br>| &nbsp;&nbsp; $1577 | &nbsp;&nbsp; $56131669<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio  | &nbsp;&nbsp; $866627 | &nbsp;&nbsp; $— |

---

**(3) Issuer Country Weightings**

Issuer country weighting percentages of portfolio holdings based on net assets, as of July 31, 2025, are as follows:

---

| | |
|:---|:---|
| United States | 69.4% |
| Canada | 4.5% |
| United Kingdom | 3.9% |
| Australia | 3.4% |
| Ireland | 2.2% |
| Japan | 2.0% |
| Switzerland | 1.9% |
| Mexico | 1.6% |
| Italy | 1.4% |
| Other Countries | 9.7% |

---

The issuer country weighting percentages include both accrued interest amounts and the equivalent exposure from any derivative holdings, if applicable.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** MFS Series Trust IX

- **b. Investment Company Act file number:** 811-02464

- **c. CIK number of Registrant:** 0000063075

- **d. LEI of Registrant:** 549300IJONSVWD5I9F62

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

  - **Street Address 1:** 111 Huntington Avenue

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

  - **Telephone number:** 617-954-5000

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

- **a. Name of Series:** MFS Corporate Bond Fund

- **b. EDGAR series identifier (if any):** S000002492

- **c. LEI of Series:** 4YECUOR03M3ILWFMIX10

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

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

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $4596579680.66

**Total Liabilities:** $52783678.23

**Net Assets:** $4543796002.43

**Delayed Delivery Securities:** $33120483.73

**Cash Not Reported:** $998354.54

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -10192.28016210 | **1-Year:** -191285.92700860 | **5-Year:** -757878.68536670 | **10-Year:** -1007142.37788690 | **30-Year:** -569857.86795430

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

- **3-Month:** -1130.61831880 | **1-Year:** -35402.46883390 | **5-Year:** -117551.44982640 | **10-Year:** -42193.68373830 | **30-Year:** -7026.61551860

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000006720 | -0.01%               | 1.89%                | 0.00%                |
| Class ID C000006718 | 0.08%                | 1.97%                | 0.08%                |
| Class ID C000006712 | 0.00%                | 1.96%                | 0.09%                |
| Class ID C000006723 | -0.02%               | 1.94%                | 0.15%                |
| Class ID C000070424 | 0.09%                | 1.97%                | 0.09%                |
| Class ID C000006711 | 0.06%                | 1.86%                | 0.15%                |
| Class ID C000006722 | -0.04%               | 1.92%                | 0.12%                |
| Class ID C000006716 | -0.09%               | 1.89%                | 0.08%                |
| Class ID C000006717 | -0.01%               | 1.80%                | 0.08%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-6669541.58             | $-6257037.76                               |
| Month 2  | $-7906881.88             | $74489549.85                               |
| Month 3  | $-4843019.84             | $-5488997.61                               |

**Designated Index Information**

- **Index Name:** BBG Barclays US Credit

- **Index Identifier:** LUCRTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Boston Properties LP                                                      | Boston Properties LP                                                       | CUSIP: 10112RAX2<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |  11718000 | PA      | $11655213.43  | 0.26%             | 2026-02-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| UniCredit SpA                                                             | UniCredit SpA                                                              | CUSIP: 904678AU3<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |  18700000 | PA      | $18633191.82  | 0.41%             | 2026-09-22      | Variable      | 2.57%                 | Yes           |                  2 | On Loan: No      |
| Plains All American Pipeline LP                                           | Plains All American Pipeline LP                                            | CUSIP: 72650RBH4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13471000 | PA      | $11451995.62  | 0.25%             | 2045-02-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Marsh & McLennan Cos., Inc.                                               | Marsh & McLennan Cos., Inc.                                                | CUSIP: 571748CD2<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |  12177000 | PA      | $11616366.17  | 0.26%             | 2055-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| COPT Defense Properties LP                                                | COPT Defense Properties LP                                                 | CUSIP: 22003BAN6<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |  15034000 | PA      | $13727309.82  | 0.30%             | 2029-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                | Occidental Petroleum Corp.                                                 | CUSIP: 674599EF8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   7894000 | PA      | $8163516.95   | 0.18%             | 2031-01-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Columbia Pipelines Holding Co. LLC                                        | Columbia Pipelines Holding Co. LLC                                         | CUSIP: 19828AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3370000 | PA      | $3405775.99   | 0.07%             | 2026-08-15      | Fixed         | 6.05%                 | Yes           |                  2 | On Loan: No      |
| Accenture Capital, Inc.                                                   | Accenture Capital, Inc.                                                    | CUSIP: 00440KAD5<br>LEI: 254900FRO0P7RIINYT25 | Long             | DBT              | CORP              | US        |   6291000 | PA      | $6087866.06   | 0.13%             | 2034-10-04      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CNH Industrial Capital LLC                                                | CNH Industrial Capital LLC                                                 | CUSIP: 12592BAR5<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |  10984000 | PA      | $11299354.70  | 0.25%             | 2029-01-12      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Service Electric and Gas Co.                                       | Public Service Electric and Gas Co., Series Q                              | CUSIP: 74456QCV6<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |   7751000 | PA      | $7636216.60   | 0.17%             | 2055-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PSEG Power LLC                                                            | PSEG Power LLC                                                             | CUSIP: 69362BBE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10101000 | PA      | $10402959.80  | 0.23%             | 2035-05-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Kroger Co. (The)                                                          | Kroger Co. (The)                                                           | CUSIP: 501044DV0<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |   7927000 | PA      | $7841398.07   | 0.17%             | 2034-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                              | Royal Caribbean Cruises Ltd.                                               | CUSIP: 780153BH4<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |  18053000 | PA      | $17980011.72  | 0.40%             | 2026-07-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                         | Philip Morris International, Inc.                                          | CUSIP: 718172CW7<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   5491000 | PA      | $5730027.84   | 0.13%             | 2029-11-17      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Store Capital LLC                                                         | Store Capital LLC                                                          | CUSIP: 862121AC4<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              | CORP              | US        |   3448000 | PA      | $3061857.17   | 0.07%             | 2030-11-18      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Wynn Macau Ltd.                                                           | Wynn Macau Ltd.                                                            | CUSIP: 98313RAD8<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   8594000 | PA      | $8566062.62   | 0.19%             | 2027-10-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Energy Transfer LP                                                        | Energy Transfer LP                                                         | CUSIP: 86765BAU3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   6789000 | PA      | $6721972.07   | 0.15%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Northwestern Mutual Life Insurance Co. (The)                              | Northwestern Mutual Life Insurance Co. (The)                               | CUSIP: 668138AF7<br>LEI: 1DU7IM20QESYGDO4HO54 | Long             | DBT              | CORP              | US        |  23268000 | PA      | $24270455.24  | 0.53%             | 2055-05-29      | Fixed         | 6.17%                 | Yes           |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                                                    | Home Depot, Inc. (The)                                                     | CUSIP: 437076BS0<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |   2382000 | PA      | $1861058.51   | 0.04%             | 2047-06-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Vodafone Group plc                                                        | Vodafone Group plc                                                         | CUSIP: 92857WBY5<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |  16182000 | PA      | $15293594.93  | 0.34%             | 2053-02-10      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Xcel Energy, Inc.                                                         | Xcel Energy, Inc.                                                          | CUSIP: 98389BBB5<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |  17216000 | PA      | $17479810.58  | 0.38%             | 2034-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                              | Avolon Holdings Funding Ltd.                                               | CUSIP: 05401AAJ0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   9024000 | PA      | $8798180.99   | 0.19%             | 2027-02-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                        | T-Mobile USA, Inc.                                                         | CUSIP: 87264ABL8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |  17961000 | PA      | $13140137.92  | 0.29%             | 2041-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                         | Wells Fargo & Co.                                                          | CUSIP: 95000U3E1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  10754000 | PA      | $11073243.35  | 0.24%             | 2029-07-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| JH North America Holdings, Inc.                                           | JH North America Holdings, Inc.                                            | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |   9787000 | PA      | $9888442.26   | 0.22%             | 2032-07-31      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Regal Rexnord Corp.                                                       | Regal Rexnord Corp.                                                        | CUSIP: 758750AM5<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |  10547000 | PA      | $10865036.77  | 0.24%             | 2028-04-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Virginia Power Fuel Securitization LLC                                    | Virginia Power Fuel Securitization LLC, Series A-1                         | CUSIP: 92808VAA0<br>LEI: 254900BELJ95ONW6U791 | Long             | DBT              | CORP              | US        |   3695597 | PA      | $3708632.98   | 0.08%             | 2027-05-01      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Paychex, Inc.                                                             | Paychex, Inc.                                                              | CUSIP: 704326AB3<br>LEI: 529900K900DW6SUBM174 | Long             | DBT              | CORP              | US        |  12254000 | PA      | $12560745.44  | 0.28%             | 2032-04-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Videotron Ltd.                                                            | Videotron Ltd.                                                             | CUSIP: 92660FAN4<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |  19934000 | PA      | $19001619.04  | 0.42%             | 2029-06-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                                 | XPLR Infrastructure Operating Partners LP                                  | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   8777000 | PA      | $9206186.52   | 0.20%             | 2031-01-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Santos Finance Ltd.                                                       | Santos Finance Ltd.                                                        | CUSIP: 803014AB5<br>LEI: 213800BKUBSWG53XNS94 | Long             | DBT              | CORP              | AU        |  14313000 | PA      | $15567677.58  | 0.34%             | 2033-09-19      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Berkshire Hathaway Energy Co.                                             | Berkshire Hathaway Energy Co.                                              | CUSIP: 084659BF7<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |   3159000 | PA      | $2646904.62   | 0.06%             | 2053-05-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| PSEG Power LLC                                                            | PSEG Power LLC                                                             | CUSIP: 69362BBD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12874000 | PA      | $13154066.79  | 0.29%             | 2030-05-15      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                                              | Barclays plc                                                               | CUSIP: 06738EBV6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  13347000 | PA      | $11819343.49  | 0.26%             | 2032-11-24      | Variable      | 2.89%                 | No            |                  2 | On Loan: No      |
| JBS USA Holding Lux SARL                                                  | JBS USA Holding Lux SARL                                                   | CUSIP: 46590XAX4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |  11976000 | PA      | $12239927.09  | 0.27%             | 2052-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Vale Overseas Ltd.                                                        | Vale Overseas Ltd.                                                         | CUSIP: 91911TAS2<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |   6666000 | PA      | $6546251.98   | 0.14%             | 2054-06-28      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| MidAmerican Energy Co.                                                    | MidAmerican Energy Co.                                                     | CUSIP: 595620AY1<br>LEI: NINLOILYRTLIMK26MZ18 | Long             | DBT              | CORP              | US        |  14824000 | PA      | $15134205.25  | 0.33%             | 2054-09-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Fairfax Financial Holdings Ltd.                                           | Fairfax Financial Holdings Ltd.                                            | CUSIP: 303901BW1<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |   7484000 | PA      | $7611179.50   | 0.17%             | 2055-05-20      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Icon Investments Six DAC                                                  | Icon Investments Six DAC                                                   | CUSIP: 45115AAB0<br>LEI: 635400FQ1M7J2CHLAS59 | Long             | DBT              | CORP              | IE        |   2916000 | PA      | $3023970.50   | 0.07%             | 2029-05-08      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Oncor Electric Delivery Co. LLC                                           | Oncor Electric Delivery Co. LLC                                            | CUSIP: 68233JCZ5<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |  19936000 | PA      | $20328420.62  | 0.45%             | 2035-04-01      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| MFS Institutional Money Market Portfolio                                  | MFS Institutional Money Market Portfolio, Class A                          | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | STIV             | RF                | US        |  55874309 | NS      | $55874309.03  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Six Flags Entertainment Corp.                                             | Six Flags Entertainment Corp.                                              | CUSIP: 83002YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12829000 | PA      | $13063860.50  | 0.29%             | 2032-05-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Alcon Finance Corp.                                                       | Alcon Finance Corp.                                                        | CUSIP: 01400EAC7<br>LEI: 549300CUZUI9VU7XNK42 | Long             | DBT              | CORP              | US        |   6904000 | PA      | $5117720.76   | 0.11%             | 2049-09-23      | Fixed         | 3.80%                 | Yes           |                  2 | On Loan: No      |
| Comerica, Inc.                                                            | Comerica, Inc.                                                             | CUSIP: 200340AW7<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | DBT              | CORP              | US        |  14075000 | PA      | $14472703.06  | 0.32%             | 2030-01-30      | Variable      | 5.98%                 | No            |                  2 | On Loan: No      |
| Northern Star Resources Ltd.                                              | Northern Star Resources Ltd.                                               | CUSIP: 66573RAA6<br>LEI: 254900XFXCRYYZAX6M78 | Long             | DBT              | CORP              | AU        |  15415000 | PA      | $15977734.59  | 0.35%             | 2033-04-11      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Nomura Holdings, Inc.                                                     | Nomura Holdings, Inc.                                                      | CUSIP: 65535HCC1<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |   9598000 | PA      | $9718493.29   | 0.21%             | 2030-07-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Galaxy Pipeline Assets Bidco Ltd.                                         | Galaxy Pipeline Assets Bidco Ltd.                                          | CUSIP: 36321PAA8<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |   9654698 | PA      | $9327545.31   | 0.21%             | 2027-09-30      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| Columbia Pipelines Operating Co. LLC                                      | Columbia Pipelines Operating Co. LLC                                       | CUSIP: 19828TAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8633000 | PA      | $8915742.23   | 0.20%             | 2053-11-15      | Fixed         | 6.54%                 | Yes           |                  2 | On Loan: No      |
| Mars, Inc.                                                                | Mars, Inc.                                                                 | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   3438000 | PA      | $3454458.36   | 0.08%             | 2035-03-01      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| PPL Electric Utilities Corp.                                              | PPL Electric Utilities Corp.                                               | CUSIP: 69351UBC6<br>LEI: 549300GCZLSGYEYPIR35 | Long             | DBT              | CORP              | US        |  11696000 | PA      | $11628747.06  | 0.26%             | 2034-02-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Element Fleet Management Corp.                                            | Element Fleet Management Corp.                                             | CUSIP: 286181AK8<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |  19070000 | PA      | $20030171.64  | 0.44%             | 2028-12-04      | Fixed         | 6.32%                 | Yes           |                  2 | On Loan: No      |
| L3Harris Technologies, Inc.                                               | L3Harris Technologies, Inc.                                                | CUSIP: 502431AQ2<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |   9532000 | PA      | $9783161.05   | 0.22%             | 2033-07-31      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | U.S. Treasury 2 Year Note                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       729 | NC      | $-110840.08   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co. (The)                                                     | Walt Disney Co. (The)                                                      | CUSIP: 254687EV4<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |   2217000 | PA      | $2001760.47   | 0.04%             | 2044-09-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Crown Castle, Inc.                                                        | Crown Castle, Inc.                                                         | CUSIP: 22822VAB7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |   8755000 | PA      | $8743249.74   | 0.19%             | 2026-02-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| NNN REIT, Inc.                                                            | NNN REIT, Inc.                                                             | CUSIP: 637417AS5<br>LEI: 5493008JKH5SOTI0JS97 | Long             | DBT              | CORP              | US        |  13247000 | PA      | $13672082.32  | 0.30%             | 2033-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Lseg US Fin Corp.                                                         | Lseg US Fin Corp.                                                          | CUSIP: 50222CAB6<br>LEI: 2138007FV67QQ13CGJ43 | Long             | DBT              | CORP              | US        |   6298000 | PA      | $6409304.24   | 0.14%             | 2034-03-28      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| BAT Capital Corp.                                                         | BAT Capital Corp.                                                          | CUSIP: 054989AA6<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |  12025000 | PA      | $12891360.73  | 0.28%             | 2030-08-02      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Targa Resources Corp.                                                     | Targa Resources Corp.                                                      | CUSIP: 87612GAB7<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |  20769000 | PA      | $17219163.56  | 0.38%             | 2052-04-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Arthur J Gallagher & Co.                                                  | Arthur J Gallagher & Co.                                                   | CUSIP: 04316JAG4<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |  11784000 | PA      | $12865184.83  | 0.28%             | 2054-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| L'Oreal SA                                                                | L'Oreal SA                                                                 | CUSIP: 502117AA2<br>LEI: 529900JI1GG6F7RKVI53 | Long             | DBT              | CORP              | FR        |  10013000 | PA      | $10099691.95  | 0.22%             | 2035-05-20      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero BBVA Mexico | BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero BBVA Mexico  | CUSIP: 07336UAB9<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |  11170000 | PA      | $11671876.37  | 0.26%             | 2039-01-08      | Variable      | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.                            | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class AS  | CUSIP: 03880RAC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4841000 | PA      | $4841106.50   | 0.11%             | 2036-11-15      | Floating      | 6.16%                 | Yes           |                  2 | On Loan: No      |
| Georgia Power Co.                                                         | Georgia Power Co.                                                          | CUSIP: 373334KT7<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |   3562000 | PA      | $3578234.81   | 0.08%             | 2033-05-17      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Alcon Finance Corp.                                                       | Alcon Finance Corp.                                                        | CUSIP: 01400EAD5<br>LEI: 549300CUZUI9VU7XNK42 | Long             | DBT              | CORP              | US        |  12203000 | PA      | $11194296.48  | 0.25%             | 2030-05-27      | Fixed         | 2.60%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                        | CUSIP: 912810UB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9296000 | PA      | $9014941.20   | 0.20%             | 2044-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| OBX Trust                                                                 | OBX Trust, Series 2024-NQM15, Class A1                                     | CUSIP: 67449DAA7<br>LEI: 254900YXEB756F6RCA13 | Long             | ABS-MBS          | CORP              | US        |   2537908 | PA      | $2525325.04   | 0.06%             | 2064-10-25      | Variable      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| Cousins Properties LP                                                     | Cousins Properties LP                                                      | CUSIP: 222793AA9<br>LEI: 254900ZQIHJ5FQH4C329 | Long             | DBT              | CORP              | US        |   8148000 | PA      | $8383037.45   | 0.18%             | 2034-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CaixaBank SA                                                              | CaixaBank SA                                                               | CUSIP: 12803RAG9<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   5811000 | PA      | $5999136.47   | 0.13%             | 2030-03-15      | Variable      | 5.67%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                 | Ford Motor Credit Co. LLC                                                  | CUSIP: 345397ZR7<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |  11273000 | PA      | $11028065.10  | 0.24%             | 2029-05-03      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| Gaci First Investment Co.                                                 | Gaci First Investment Co.                                                  | CUSIP: N/A<br>LEI: 558600TU1PWGNLZ3XM88       | Long             | DBT              | CORP              | KY        |   8025000 | PA      | $6943340.26   | 0.15%             | 2053-02-14      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Macquarie Airfinance Holdings Ltd.                                        | Macquarie Airfinance Holdings Ltd.                                         | CUSIP: 55609NAB4<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |   5642000 | PA      | $5889136.53   | 0.13%             | 2029-03-30      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Imperial Brands Finance plc                                               | Imperial Brands Finance plc                                                | CUSIP: 45262BAG8<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |  16674000 | PA      | $17142776.84  | 0.38%             | 2030-02-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| DTE Energy Co.                                                            | DTE Energy Co.                                                             | CUSIP: 233331BM8<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |  11963000 | PA      | $12071112.02  | 0.27%             | 2027-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                          | Deutsche Bank AG                                                           | CUSIP: 251526CT4<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   9995000 | PA      | $10772805.30  | 0.24%             | 2034-02-10      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| Haleon US Capital LLC                                                     | Haleon US Capital LLC                                                      | CUSIP: 36264FAM3<br>LEI: 549300N8C3A3L0UVQB07 | Long             | DBT              | CORP              | US        |  11835000 | PA      | $11070134.84  | 0.24%             | 2032-03-24      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                 | Ford Motor Credit Co. LLC                                                  | CUSIP: 345397E58<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   6755000 | PA      | $6767669.48   | 0.15%             | 2029-03-08      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Maxam Prill Sarl                                                          | Maxam Prill Sarl                                                           | CUSIP: 57779MAA8<br>LEI: 984500C4C5B820A6B691 | Long             | DBT              | CORP              | LU        |  23765000 | PA      | $23235729.69  | 0.51%             | 2030-07-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| LXP Industrial Trust                                                      | LXP Industrial Trust                                                       | CUSIP: 529537AA0<br>LEI: 549300S4MH2ICXDBFV43 | Long             | DBT              | CORP              | US        |  16265000 | PA      | $13717207.30  | 0.30%             | 2031-10-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Trust                                          | Provident Funding Mortgage Trust, Series 2025-3, Class A4                  | CUSIP: 74388PAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  17305327 | PA      | $17256680.00  | 0.38%             | 2055-07-25      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Flowers Foods, Inc.                                                       | Flowers Foods, Inc.                                                        | CUSIP: 343498AE1<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | DBT              | CORP              | US        |   4346000 | PA      | $4248788.54   | 0.09%             | 2055-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                                  | UnitedHealth Group, Inc.                                                   | CUSIP: 91324PFK3<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |  11737000 | PA      | $11329886.19  | 0.25%             | 2044-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CBRE Services, Inc.                                                       | CBRE Services, Inc.                                                        | CUSIP: 12505BAG5<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |  14472000 | PA      | $15248607.46  | 0.34%             | 2034-08-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                           | Citigroup, Inc., Series GG                                                 | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  15830000 | PA      | $15964555.00  | 0.35%             | 2030-08-15      | Variable      | 6.87%                 | No            |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                                 | XPLR Infrastructure Operating Partners LP                                  | CUSIP: 98380MAB1<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   2010000 | PA      | $2128939.74   | 0.05%             | 2033-03-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Marathon Petroleum Corp.                                                  | Marathon Petroleum Corp.                                                   | CUSIP: 56585ABL5<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | DBT              | CORP              | US        |  12828000 | PA      | $13015275.33  | 0.29%             | 2035-03-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Pioneer Natural Resources Co.                                             | Pioneer Natural Resources Co.                                              | CUSIP: 723787AQ0<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | DBT              | CORP              | US        |   2906000 | PA      | $2573492.84   | 0.06%             | 2030-08-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Georgia Power Co.                                                         | Georgia Power Co.                                                          | CUSIP: 373334KR1<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |  13035000 | PA      | $12127896.83  | 0.27%             | 2052-05-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                           | Goldman Sachs Group, Inc. (The)                                            | CUSIP: 38141GB60<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   9426000 | PA      | $9418762.06   | 0.21%             | 2030-10-23      | Variable      | 4.69%                 | No            |                  2 | On Loan: No      |
| International Flavors & Fragrances, Inc.                                  | International Flavors & Fragrances, Inc.                                   | CUSIP: 459506AL5<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |  12729000 | PA      | $10867734.43  | 0.24%             | 2048-09-26      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                                                         | NatWest Group plc                                                          | CUSIP: 639057AQ1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   5914000 | PA      | $6479327.24   | 0.14%             | 2033-11-10      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                                                     | ARI Fleet Lease Trust, Series 2023-A, Class A2                             | CUSIP: 00218GAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    863910 | PA      | $864987.00    | 0.02%             | 2032-02-17      | Fixed         | 5.41%                 | Yes           |                  2 | On Loan: No      |
| Alimentation Couche-Tard, Inc.                                            | Alimentation Couche-Tard, Inc.                                             | CUSIP: 01626PAN6<br>LEI: 549300OSW32RVX8CCZ87 | Long             | DBT              | CORP              | CA        |  12247000 | PA      | $8907899.78   | 0.20%             | 2050-01-25      | Fixed         | 3.80%                 | Yes           |                  2 | On Loan: No      |
| Flutter Treasury DAC                                                      | Flutter Treasury DAC                                                       | CUSIP: 344045AB5<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |  18564000 | PA      | $18686429.58  | 0.41%             | 2031-06-04      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                                              | Rockies Express Pipeline LLC                                               | CUSIP: 77340RAD9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   6372000 | PA      | $6555443.51   | 0.14%             | 2038-07-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp.                                 | Golden State Tobacco Securitization Corp.                                  | CUSIP: 38122NB50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9830000 | PA      | $8491631.74   | 0.19%             | 2034-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Element Fleet Management Corp.                                            | Element Fleet Management Corp.                                             | CUSIP: 286181AP7<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |  11010000 | PA      | $11104725.20  | 0.24%             | 2030-03-25      | Fixed         | 5.04%                 | Yes           |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                              | Royal Caribbean Cruises Ltd.                                               | CUSIP: 780153BW1<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   6700000 | PA      | $6748119.40   | 0.15%             | 2031-09-30      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Broadcom, Inc.                                                            | Broadcom, Inc.                                                             | CUSIP: 11135FBX8<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   8807000 | PA      | $8988857.59   | 0.20%             | 2029-07-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Panther Escrow Issuer LLC                                                 | Panther Escrow Issuer LLC                                                  | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4401000 | PA      | $4551062.66   | 0.10%             | 2031-06-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| AGCO Corp.                                                                | AGCO Corp.                                                                 | CUSIP: 001084AS1<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | DBT              | CORP              | US        |   7879000 | PA      | $8030072.73   | 0.18%             | 2034-03-21      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Rio Tinto Finance USA plc                                                 | Rio Tinto Finance USA plc                                                  | CUSIP: 76720AAS5<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |   8826000 | PA      | $8959460.95   | 0.20%             | 2030-03-14      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                                                         | NatWest Group plc                                                          | CUSIP: 639057AL2<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   8000000 | PA      | $8121050.72   | 0.18%             | 2028-03-01      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                                                | Corebridge Financial, Inc.                                                 | CUSIP: 21871XAH2<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |  22135000 | PA      | $20803156.31  | 0.46%             | 2032-04-05      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                     | United Mexican States                                                      | CUSIP: 91087BBE9<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |  14119000 | PA      | $14203714.00  | 0.31%             | 2032-07-02      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| APA Infrastructure Ltd.                                                   | APA Infrastructure Ltd.                                                    | CUSIP: 00188LAB3<br>LEI: 261700SS8OEHDOCOUJ33 | Long             | DBT              | CORP              | AU        |  14050000 | PA      | $13510209.68  | 0.30%             | 2044-09-16      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                            | Morgan Stanley                                                             | CUSIP: 6174468V4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  17246000 | PA      | $17016407.11  | 0.37%             | 2026-12-10      | Variable      | 0.98%                 | No            |                  2 | On Loan: No      |
| AEP Transmission Co. LLC                                                  | AEP Transmission Co. LLC                                                   | CUSIP: 00115AAS8<br>LEI: 549300X123Z1I0LA3Y84 | Long             | DBT              | CORP              | US        |   9949000 | PA      | $10111498.01  | 0.22%             | 2035-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Service Corp. International                                               | Service Corp. International                                                | CUSIP: 817565CH5<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   6087000 | PA      | $6101426.19   | 0.13%             | 2032-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Manufacturers & Traders Trust Co.                                         | Manufacturers & Traders Trust Co.                                          | CUSIP: 55279HAW0<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |  11201000 | PA      | $11269037.56  | 0.25%             | 2028-01-27      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Pfizer, Inc.                                                              | Pfizer, Inc.                                                               | CUSIP: 717081EZ2<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |   7976000 | PA      | $5672164.46   | 0.12%             | 2040-05-28      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Walt Disney Co. (The)                                                     | Walt Disney Co. (The)                                                      | CUSIP: 254687FZ4<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |   9908000 | PA      | $7268027.17   | 0.16%             | 2051-01-13      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                              | UBS Group AG                                                               | CUSIP: 902613AA6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  35561000 | PA      | $33579136.40  | 0.74%             | 2030-08-13      | Variable      | 3.13%                 | Yes           |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                              | Pacific Gas and Electric Co.                                               | CUSIP: 694308KF3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   8293000 | PA      | $8397562.62   | 0.18%             | 2027-06-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Pioneer Natural Resources Co.                                             | Pioneer Natural Resources Co.                                              | CUSIP: 723787AR8<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | DBT              | CORP              | US        |  21285000 | PA      | $18835306.37  | 0.41%             | 2031-01-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Regal Rexnord Corp.                                                       | Regal Rexnord Corp.                                                        | CUSIP: 758750AP8<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |  11138000 | PA      | $11773515.79  | 0.26%             | 2033-04-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| ELM Trust                                                                 | ELM Trust, Series 2024-ELM, Class A10                                      | CUSIP: 26860XAU5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11593604 | PA      | $11674258.38  | 0.26%             | 2039-06-10      | Variable      | 5.80%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                       | U.S. Treasury Long Bond                                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      1078 | NC      | $2926214.74   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Angel Oak Mortgage Trust                                                  | Angel Oak Mortgage Trust, Series 2024-13, Class A1                         | CUSIP: 03466PAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11307273 | PA      | $11298892.15  | 0.25%             | 2069-12-26      | Variable      | 5.46%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                                              | UBS Group AG                                                               | CUSIP: 902613AD0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  19449000 | PA      | $17431247.94  | 0.38%             | 2031-02-10      | Variable      | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Mars, Inc.                                                                | Mars, Inc.                                                                 | CUSIP: 571676AZ8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |  19768000 | PA      | $19950007.34  | 0.44%             | 2032-03-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Bank AG                                                          | Deutsche Bank AG                                                           | CUSIP: 251526DB2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   7329000 | PA      | $7341135.28   | 0.16%             | 2031-08-04      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Enel Finance International NV                                             | Enel Finance International NV                                              | CUSIP: 29278GAP3<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   7340000 | PA      | $6465768.49   | 0.14%             | 2031-07-12      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                       | CUSIP: 46647PAF3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  13887000 | PA      | $13662472.07  | 0.30%             | 2028-05-01      | Variable      | 3.54%                 | No            |                  2 | On Loan: No      |
| NXP BV                                                                    | NXP BV                                                                     | CUSIP: 62954HAL2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12491000 | PA      | $8946632.78   | 0.20%             | 2042-02-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                  | New Hampshire Business Finance Authority, Series 2024 A                    | CUSIP: 63610HAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9495000 | PA      | $9786683.55   | 0.22%             | 2034-04-01      | Fixed         | 6.89%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                              | Pacific Gas and Electric Co.                                               | CUSIP: 694308JG3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |  14966000 | PA      | $13066088.60  | 0.29%             | 2031-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| nVent Finance SARL                                                        | nVent Finance SARL                                                         | CUSIP: 67078AAF0<br>LEI: 549300KO1OQ4MVFB6X02 | Long             | DBT              | CORP              | LU        |   5067000 | PA      | $5178369.72   | 0.11%             | 2033-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| NBN Co. Ltd.                                                              | NBN Co. Ltd.                                                               | CUSIP: 62878U2F8<br>LEI: 2549007CRZ2NT7S96A24 | Long             | DBT              | NUSS              | AU        |  16054000 | PA      | $16695486.86  | 0.37%             | 2028-10-06      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| OBX Trust                                                                 | OBX Trust, Series 2024-NQM3, Class A1                                      | CUSIP: 67118KAA1<br>LEI: 2549001QDCO9VU0HH514 | Long             | ABS-MBS          | CORP              | US        |   4088611 | PA      | $4114252.00   | 0.09%             | 2063-12-25      | Variable      | 6.13%                 | Yes           |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                          | Amazon.com, Inc.                                                           | CUSIP: 023135CH7<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |  12124000 | PA      | $11570252.91  | 0.25%             | 2032-04-13      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Duke Energy Florida LLC                                                   | Duke Energy Florida LLC                                                    | CUSIP: 26444HAA9<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |   5361000 | PA      | $3827480.05   | 0.08%             | 2046-10-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| American Homes 4 Rent LP                                                  | American Homes 4 Rent LP                                                   | CUSIP: 02666TAF4<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |   6036000 | PA      | $4684344.52   | 0.10%             | 2052-04-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Novelis Corp.                                                             | Novelis Corp.                                                              | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |  20774000 | PA      | $19899535.09  | 0.44%             | 2030-01-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| AbbVie, Inc.                                                              | AbbVie, Inc.                                                               | CUSIP: 00287YDV8<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |  14936000 | PA      | $14589909.28  | 0.32%             | 2044-03-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                                                | Corebridge Financial, Inc.                                                 | CUSIP: 21871XAK5<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   2707000 | PA      | $2265709.57   | 0.05%             | 2042-04-05      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                | Occidental Petroleum Corp.                                                 | CUSIP: 674599CJ2<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |  17633000 | PA      | $12999678.86  | 0.29%             | 2046-04-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                      | Charter Communications Operating LLC                                       | CUSIP: 161175BC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4303000 | PA      | $4286656.26   | 0.09%             | 2055-10-23      | Fixed         | 6.83%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                                              | Marriott International, Inc., Series HH                                    | CUSIP: 571903BG7<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |  12565000 | PA      | $11390322.40  | 0.25%             | 2031-04-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                                        | LPL Holdings, Inc.                                                         | CUSIP: 50212YAC8<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |  12968000 | PA      | $12890550.44  | 0.28%             | 2027-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| AIB Group plc                                                             | AIB Group plc                                                              | CUSIP: 00135TAD6<br>LEI: 635400AKJBGNS5WNQL34 | Long             | DBT              | CORP              | IE        |  21135000 | PA      | $22305082.21  | 0.49%             | 2029-09-13      | Variable      | 6.61%                 | Yes           |                  2 | On Loan: No      |
| American Tower Corp.                                                      | American Tower Corp.                                                       | CUSIP: 03027XCG3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |  11727000 | PA      | $11963212.97  | 0.26%             | 2029-02-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Raizen Fuels Finance SA                                                   | Raizen Fuels Finance SA                                                    | CUSIP: 75102XAF3<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |  17023000 | PA      | $16742120.50  | 0.37%             | 2032-07-08      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Broadcom, Inc.                                                            | Broadcom, Inc.                                                             | CUSIP: 11135FCM1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |  12805000 | PA      | $12865595.18  | 0.28%             | 2035-07-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| WMG Acquisition Corp.                                                     | WMG Acquisition Corp.                                                      | CUSIP: 92933BAT1<br>LEI: 549300NAS11NXI33CP80 | Long             | DBT              | CORP              | US        |  11650000 | PA      | $10936673.88  | 0.24%             | 2029-12-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| 3650R Commercial Mortgage Trust                                           | 3650R Commercial Mortgage Trust, Series 2021-PF1, Class XA                 | CUSIP: 88581EAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        | 110591128 | PA      | $4213853.76   | 0.09%             | 2054-11-15      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| Macquarie Bank Ltd.                                                       | Macquarie Bank Ltd.                                                        | CUSIP: 556079AB7<br>LEI: 549300MPRNPO6FWNKN78 | Long             | DBT              | CORP              | AU        |   3736000 | PA      | $3772848.17   | 0.08%             | 2027-03-08      | Variable      | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                                     | Ashtead Capital, Inc.                                                      | CUSIP: 045054AR4<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   4502000 | PA      | $4671675.65   | 0.10%             | 2033-10-15      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Burlington Northern Santa Fe LLC                                          | Burlington Northern Santa Fe LLC                                           | CUSIP: 12189LBL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8973000 | PA      | $8759679.76   | 0.19%             | 2055-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| American Homes 4 Rent LP                                                  | American Homes 4 Rent LP                                                   | CUSIP: 02666TAH0<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |   6707000 | PA      | $6796827.86   | 0.15%             | 2034-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                          | Deutsche Bank AG                                                           | CUSIP: 25160PAQ0<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |  14717000 | PA      | $14962136.36  | 0.33%             | 2029-01-10      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                          | Deutsche Bank AG                                                           | CUSIP: 251526CV9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |  11827000 | PA      | $12002274.72  | 0.26%             | 2028-02-08      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                            | Morgan Stanley                                                             | CUSIP: 61747YFF7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   4781000 | PA      | $4907459.08   | 0.11%             | 2029-07-20      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| Intel Corp.                                                               | Intel Corp.                                                                | CUSIP: 458140CJ7<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |   7743000 | PA      | $6971234.59   | 0.15%             | 2053-02-10      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| JBS USA Holding Lux SARL                                                  | JBS USA Holding Lux SARL                                                   | CUSIP: 46590XAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |  12802000 | PA      | $11908405.04  | 0.26%             | 2031-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                       | CUSIP: 46647PER3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  19973000 | PA      | $19751948.62  | 0.43%             | 2035-10-22      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                            | Morgan Stanley Residential Mortgage Loan Trust, Series 2024-NQM3, Class A1 | CUSIP: 61776UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4325406 | PA      | $4288178.20   | 0.09%             | 2069-07-25      | Variable      | 5.04%                 | Yes           |                  2 | On Loan: No      |
| Fairfax Financial Holdings Ltd.                                           | Fairfax Financial Holdings Ltd.                                            | CUSIP: 303901BL5<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |   4771000 | PA      | $4878182.57   | 0.11%             | 2032-08-16      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                  | PNC Financial Services Group, Inc. (The)                                   | CUSIP: 693475BW4<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   8687000 | PA      | $9013269.21   | 0.20%             | 2035-01-22      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                                  | Venture Global LNG, Inc.                                                   | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |  10694000 | PA      | $10696726.97  | 0.24%             | 2029-09-30      | Variable      | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Southern California Edison Co.                                            | Southern California Edison Co.                                             | CUSIP: 842400FQ1<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   6030000 | PA      | $5176574.76   | 0.11%             | 2040-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Sammons Financial Group, Inc.                                             | Sammons Financial Group, Inc.                                              | CUSIP: 79588TAF7<br>LEI: 254900SHCOQLVJ21CT59 | Long             | DBT              | CORP              | US        |  17496000 | PA      | $18778509.81  | 0.41%             | 2034-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                                         | Venture Global Calcasieu Pass LLC                                          | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |  12365000 | PA      | $11421386.05  | 0.25%             | 2031-08-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Eversource Energy                                                         | Eversource Energy                                                          | CUSIP: 30040WAX6<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |  11861000 | PA      | $12064256.50  | 0.27%             | 2034-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Danske Bank A/S                                                           | Danske Bank A/S                                                            | CUSIP: 23636ABH3<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |  16262000 | PA      | $16829183.60  | 0.37%             | 2030-03-01      | Variable      | 5.71%                 | Yes           |                  2 | On Loan: No      |
| KREF Ltd.                                                                 | KREF Ltd., Series 2021-FL2, Class A                                        | CUSIP: 48275RAA5<br>LEI: 54930083ELM2GCMVTQ91 | Long             | ABS-CBDO         | CORP              | KY        |   4029640 | PA      | $4007384.46   | 0.09%             | 2039-02-15      | Floating      | 5.53%                 | Yes           |                  2 | On Loan: No      |
| Booz Allen Hamilton, Inc.                                                 | Booz Allen Hamilton, Inc.                                                  | CUSIP: 09951LAD5<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |  15101000 | PA      | $15417486.76  | 0.34%             | 2035-04-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ACREC Ltd.                                                                | ACREC Ltd., Series 2021-FL1, Class A                                       | CUSIP: 00500RAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6108618 | PA      | $6090957.96   | 0.13%             | 2036-10-16      | Floating      | 5.61%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                       | U.S. Treasury 10 Year Note                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -209 | NC      | $-129786.91   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                        | Venture Global Plaquemines LNG LLC                                         | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   5043000 | PA      | $5187991.60   | 0.11%             | 2034-01-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| MF1 Ltd.                                                                  | MF1 Ltd., Series 2022-FL8, Class A                                         | CUSIP: 55284JAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   9518497 | PA      | $9518449.24   | 0.21%             | 2037-02-19      | Floating      | 5.70%                 | Yes           |                  2 | On Loan: No      |
| Microsoft Corp.                                                           | Microsoft Corp.                                                            | CUSIP: 594918CW2<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |  14610000 | PA      | $8822214.17   | 0.19%             | 2050-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev Worldwide, Inc.                                      | Anheuser-Busch InBev Worldwide, Inc.                                       | CUSIP: 03523TBT4<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |  17135000 | PA      | $14484057.52  | 0.32%             | 2048-10-06      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| Citadel Securities Global Holdings LLC                                    | Citadel Securities Global Holdings LLC                                     | CUSIP: 17289RAA4<br>LEI: 549300NV5RXBUS3X7L47 | Long             | DBT              | CORP              | US        |  13723000 | PA      | $13842826.77  | 0.30%             | 2030-06-18      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| MetLife, Inc.                                                             | MetLife, Inc.                                                              | CUSIP: 59156RCN6<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |  12241000 | PA      | $12518718.67  | 0.28%             | 2034-12-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Adani Electricity Mumbai Ltd.                                             | Adani Electricity Mumbai Ltd.                                              | CUSIP: 00654GAB9<br>LEI: 335800AIC1B5EBFVUC38 | Long             | DBT              | CORP              | IN        |   4802000 | PA      | $4220936.87   | 0.09%             | 2031-07-22      | Fixed         | 3.87%                 | Yes           |                  2 | On Loan: No      |
| Bunge Ltd. Finance Corp.                                                  | Bunge Ltd. Finance Corp.                                                   | CUSIP: 120568BK5<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |   3134000 | PA      | $3162559.48   | 0.07%             | 2032-04-21      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| AIB Group plc                                                             | AIB Group plc                                                              | CUSIP: 00135TAE4<br>LEI: 635400AKJBGNS5WNQL34 | Long             | DBT              | CORP              | IE        |   3642000 | PA      | $3750047.21   | 0.08%             | 2035-03-28      | Variable      | 5.87%                 | Yes           |                  2 | On Loan: No      |
| Vulcan Materials Co.                                                      | Vulcan Materials Co.                                                       | CUSIP: 929160AV1<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |  10514000 | PA      | $8838527.86   | 0.19%             | 2047-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Enel Finance International NV                                             | Enel Finance International NV                                              | CUSIP: 29278GBB3<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   9393000 | PA      | $11313705.06  | 0.25%             | 2052-10-14      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Store Capital LLC                                                         | Store Capital LLC                                                          | CUSIP: 862121AB6<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              | CORP              | US        |   6457000 | PA      | $6354817.52   | 0.14%             | 2029-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Fortescue Treasury Pty. Ltd.                                              | Fortescue Treasury Pty. Ltd.                                               | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |  19960000 | PA      | $18700537.97  | 0.41%             | 2031-04-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| FirstEnergy Corp.                                                         | FirstEnergy Corp., Series C                                                | CUSIP: 337932AM9<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |  16280000 | PA      | $10981219.46  | 0.24%             | 2050-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Visa, Inc.                                                                | Visa, Inc.                                                                 | CUSIP: 92826CAJ1<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |   9718000 | PA      | $7501060.75   | 0.17%             | 2047-09-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                            | Morgan Stanley Residential Mortgage Loan Trust, Series 2025-NQM3, Class A1 | CUSIP: 61778LAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4418969 | PA      | $4416672.03   | 0.10%             | 2070-05-25      | Variable      | 5.53%                 | Yes           |                  2 | On Loan: No      |
| Constellation Brands, Inc.                                                | Constellation Brands, Inc.                                                 | CUSIP: 21036PAZ1<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |  11594000 | PA      | $8967789.73   | 0.20%             | 2048-02-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                 | Ford Motor Credit Co. LLC                                                  | CUSIP: 345397D83<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   8394000 | PA      | $8441210.79   | 0.19%             | 2027-03-05      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| VICI Properties LP                                                        | VICI Properties LP                                                         | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7044000 | PA      | $6985837.48   | 0.15%             | 2026-12-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Marin General Hospital                                                    | Marin General Hospital, Series 2023                                        | CUSIP: 568039AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8685000 | PA      | $9548494.05   | 0.21%             | 2045-08-01      | Fixed         | 7.24%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                                        | Credit Agricole SA                                                         | CUSIP: 22535WAH0<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |  24068000 | PA      | $23671265.25  | 0.52%             | 2027-01-26      | Variable      | 1.25%                 | Yes           |                  2 | On Loan: No      |
| APA Infrastructure Ltd.                                                   | APA Infrastructure Ltd.                                                    | CUSIP: 00205GAC1<br>LEI: 261700SS8OEHDOCOUJ33 | Long             | DBT              | CORP              | AU        |   8925000 | PA      | $8567826.59   | 0.19%             | 2035-03-23      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Engie Energia Chile SA                                                    | Engie Energia Chile SA                                                     | CUSIP: 29287TAA7<br>LEI: 5493000FIKCC3ZDWTO77 | Long             | DBT              | CORP              | CL        |   4638000 | PA      | $4309619.40   | 0.09%             | 2030-01-28      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                                                | Charles Schwab Corp. (The)                                                 | CUSIP: 808513CH6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  12497000 | PA      | $13486256.40  | 0.30%             | 2034-08-24      | Variable      | 6.14%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                        | T-Mobile USA, Inc.                                                         | CUSIP: 87264ACY9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   8401000 | PA      | $8414044.32   | 0.19%             | 2033-07-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                        | Venture Global Plaquemines LNG LLC                                         | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   4874000 | PA      | $5013910.90   | 0.11%             | 2036-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| International Flavors & Fragrances, Inc.                                  | International Flavors & Fragrances, Inc.                                   | CUSIP: 459506AN1<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |   3391000 | PA      | $3368032.89   | 0.07%             | 2025-10-01      | Fixed         | 1.23%                 | Yes           |                  2 | On Loan: No      |
| Lam Research Corp.                                                        | Lam Research Corp.                                                         | CUSIP: 512807AT5<br>LEI: 549300I4GMO6D34U1T02 | Long             | DBT              | CORP              | US        |   7791000 | PA      | $7085186.43   | 0.16%             | 2049-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                                                   | BPCE SA                                                                    | CUSIP: 05571AAV7<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |  12906000 | PA      | $13267080.97  | 0.29%             | 2030-01-18      | Variable      | 5.72%                 | Yes           |                  2 | On Loan: No      |
| M&T Bank Corp.                                                            | M&T Bank Corp.                                                             | CUSIP: 55261FAR5<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   9528000 | PA      | $9392206.66   | 0.21%             | 2034-01-27      | Variable      | 5.05%                 | No            |                  2 | On Loan: No      |
| Georgia Power Co.                                                         | Georgia Power Co.                                                          | CUSIP: 373334KQ3<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |   4686000 | PA      | $4690514.87   | 0.10%             | 2032-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Walt Disney Co. (The)                                                     | Walt Disney Co. (The)                                                      | CUSIP: 254687FY7<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |  25879000 | PA      | $21152819.16  | 0.47%             | 2040-05-13      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                         | Wells Fargo & Co.                                                          | CUSIP: 95000U3P6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  12007000 | PA      | $12292943.46  | 0.27%             | 2031-01-24      | Variable      | 5.24%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                       | CUSIP: 46647PCR5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  37249000 | PA      | $32748214.13  | 0.72%             | 2032-11-08      | Variable      | 2.54%                 | No            |                  2 | On Loan: No      |
| Duke Energy Carolinas LLC                                                 | Duke Energy Carolinas LLC                                                  | CUSIP: 26442CBA1<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |  15465000 | PA      | $14244122.22  | 0.31%             | 2030-02-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Ferguson Enterprises, Inc.                                                | Ferguson Enterprises, Inc.                                                 | CUSIP: 31488VAA5<br>LEI: 2138003JYQMRP3SLX189 | Long             | DBT              | CORP              | US        |  16803000 | PA      | $16589280.96  | 0.37%             | 2034-10-03      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp.                                                         | NTT Finance Corp.                                                          | CUSIP: 62954WAV7<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |   4761000 | PA      | $4834785.64   | 0.11%             | 2035-07-16      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Eagle Funding Luxco Sarl                                                  | Eagle Funding Luxco Sarl                                                   | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |  19295000 | PA      | $19381827.50  | 0.43%             | 2030-08-17      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Nordea Bank Abp                                                           | Nordea Bank Abp                                                            | CUSIP: 65559CAE1<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |  16788000 | PA      | $16232338.52  | 0.36%             | 2026-09-30      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                     | Bank of America Corp.                                                      | CUSIP: 06051GMB2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   9737000 | PA      | $9754560.87   | 0.21%             | 2035-08-15      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Bermuda                                                                   | Bermuda Government Bond                                                    | CUSIP: 085209AJ3<br>LEI: 549300FP5PUZXX9FVJ40 | Long             | DBT              | NUSS              | BM        |  25609000 | PA      | $25371604.57  | 0.56%             | 2032-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                      | Charter Communications Operating LLC                                       | CUSIP: 161175BL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19575000 | PA      | $16598950.89  | 0.37%             | 2047-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Jersey Central Power & Light Co.                                          | Jersey Central Power & Light Co.                                           | CUSIP: 476556DD4<br>LEI: 549300W9UGH9ZPLNPF79 | Long             | DBT              | CORP              | US        |  22679000 | PA      | $19884937.67  | 0.44%             | 2032-03-01      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Brown & Brown, Inc.                                                       | Brown & Brown, Inc.                                                        | CUSIP: 115236AL5<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |   2879000 | PA      | $2912023.22   | 0.06%             | 2032-06-23      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Danske Bank A/S                                                           | Danske Bank A/S                                                            | CUSIP: 23636ABJ9<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |   5384000 | PA      | $5367575.89   | 0.12%             | 2030-10-02      | Variable      | 4.61%                 | Yes           |                  2 | On Loan: No      |
| Cemex SAB de CV                                                           | Cemex SAB de CV                                                            | CUSIP: 151290CC5<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |   9818000 | PA      | $10023687.10  | 0.22%             | 2030-06-10      | Variable      | 7.20%                 | Yes           |                  2 | On Loan: No      |
| Targa Resources Corp.                                                     | Targa Resources Corp.                                                      | CUSIP: 87612KAC6<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   3900000 | PA      | $3843448.91   | 0.08%             | 2052-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Sysco Corp.                                                               | Sysco Corp.                                                                | CUSIP: 871829BH9<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |  10038000 | PA      | $8332961.28   | 0.18%             | 2048-03-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Sands China Ltd.                                                          | Sands China Ltd.                                                           | CUSIP: 80007RAQ8<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |  15270000 | PA      | $14130471.67  | 0.31%             | 2029-03-08      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Roche Holdings, Inc.                                                      | Roche Holdings, Inc.                                                       | CUSIP: 771196CF7<br>LEI: PVJRP0EQNV6OGDPZGY95 | Long             | DBT              | CORP              | US        |   8944000 | PA      | $9230101.21   | 0.20%             | 2028-11-13      | Fixed         | 5.34%                 | Yes           |                  2 | On Loan: No      |
| Microsoft Corp.                                                           | Microsoft Corp.                                                            | CUSIP: 594918CC6<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |   5450000 | PA      | $3352607.99   | 0.07%             | 2050-06-01      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                                   | GFL Environmental, Inc.                                                    | CUSIP: 36168QAM6<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   7073000 | PA      | $6819212.27   | 0.15%             | 2028-09-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| National Australia Bank Ltd.                                              | National Australia Bank Ltd.                                               | CUSIP: 632525BB6<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |  21704000 | PA      | $19180517.81  | 0.42%             | 2037-01-12      | Variable      | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                                                    | Home Depot, Inc. (The)                                                     | CUSIP: 437076DD1<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |   4354000 | PA      | $4440678.65   | 0.10%             | 2031-06-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                     | Bank of America Corp.                                                      | CUSIP: 06051GLU1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   8451000 | PA      | $8902896.10   | 0.20%             | 2034-09-15      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| ELM Trust                                                                 | ELM Trust, Series 2024-ELM, Class D10                                      | CUSIP: 26860XBE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4848307 | PA      | $4857946.40   | 0.11%             | 2039-06-10      | Variable      | 6.63%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                       | U.S. Treasury 5 Year Note                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -843 | NC      | $-81567.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BP Capital Markets America, Inc.                                          | BP Capital Markets America, Inc.                                           | CUSIP: 10373QBS8<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |  10654000 | PA      | $6698558.67   | 0.15%             | 2052-03-17      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Southern California Edison Co.                                            | Southern California Edison Co.                                             | CUSIP: 842400JG9<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   2975000 | PA      | $2963311.11   | 0.07%             | 2035-03-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| SMBC Aviation Capital Finance DAC                                         | SMBC Aviation Capital Finance DAC                                          | CUSIP: 78448TAL6<br>LEI: 549300OD7VKRVNWB2J98 | Long             | DBT              | CORP              | IE        |  23119000 | PA      | $23555031.97  | 0.52%             | 2029-04-03      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                                  | UnitedHealth Group, Inc.                                                   | CUSIP: 91324PES7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |  13807000 | PA      | $13624605.53  | 0.30%             | 2053-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Ontario Teachers' Cadillac Fairview Properties Trust                      | Ontario Teachers' Cadillac Fairview Properties Trust                       | CUSIP: 68327LAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  16065000 | PA      | $14053870.52  | 0.31%             | 2031-10-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                       | CUSIP: 46647PEC6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   5407000 | PA      | $5528079.33   | 0.12%             | 2035-01-23      | Variable      | 5.34%                 | No            |                  2 | On Loan: No      |
| Humana, Inc.                                                              | Humana, Inc.                                                               | CUSIP: 444859CD2<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |   9053000 | PA      | $9068112.72   | 0.20%             | 2035-05-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Primo Water Holdings, Inc.                                                | Primo Water Holdings, Inc.                                                 | CUSIP: 74168RAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6468000 | PA      | $6239050.91   | 0.14%             | 2029-04-30      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                  | PNC Financial Services Group, Inc. (The)                                   | CUSIP: 693475BV6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   6731000 | PA      | $6809291.76   | 0.15%             | 2028-01-21      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| Parkland Corp.                                                            | Parkland Corp.                                                             | CUSIP: 70137WAN8<br>LEI: 549300UY5C6HUV0XLS53 | Long             | DBT              | CORP              | CA        |  18222000 | PA      | $18625307.53  | 0.41%             | 2032-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                               | Toronto-Dominion Bank (The)                                                | CUSIP: 89115A2C5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  12741000 | PA      | $12684103.03  | 0.28%             | 2027-06-08      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| Coty, Inc.                                                                | Coty, Inc.                                                                 | CUSIP: 22207AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5144000 | PA      | $5285912.67   | 0.12%             | 2030-07-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Boston Gas Co.                                                            | Boston Gas Co.                                                             | CUSIP: 100743AP8<br>LEI: FN7P4E7K9JOBORDEUX61 | Long             | DBT              | CORP              | US        |  18170000 | PA      | $18908778.03  | 0.42%             | 2035-01-10      | Fixed         | 5.84%                 | Yes           |                  2 | On Loan: No      |
| Las Vegas Sands Corp.                                                     | Las Vegas Sands Corp.                                                      | CUSIP: 517834AJ6<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |   6679000 | PA      | $6790451.47   | 0.15%             | 2027-06-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                              | UBS Group AG                                                               | CUSIP: 902613BQ0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  23300000 | PA      | $23731059.79  | 0.52%             | 2036-05-09      | Variable      | 5.58%                 | Yes           |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                                   | Volkswagen Group of America Finance LLC                                    | CUSIP: 928668CB6<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   8166000 | PA      | $8463707.37   | 0.19%             | 2028-11-16      | Fixed         | 6.20%                 | Yes           |                  2 | On Loan: No      |
| Macquarie Airfinance Holdings Ltd.                                        | Macquarie Airfinance Holdings Ltd.                                         | CUSIP: 55609NAE8<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |   4283000 | PA      | $4279392.00   | 0.09%             | 2030-03-17      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| M&T Bank Corp.                                                            | M&T Bank Corp.                                                             | CUSIP: 55261FAS3<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   4193000 | PA      | $4538334.01   | 0.10%             | 2029-10-30      | Variable      | 7.41%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                     | United Mexican States                                                      | CUSIP: 91087BAX8<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   4838000 | PA      | $4419513.00   | 0.10%             | 2053-05-04      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| IAMGOLD Corp.                                                             | IAMGOLD Corp.                                                              | CUSIP: 450913AF5<br>LEI: 254900E7II30XAB9LA72 | Long             | DBT              | CORP              | CA        |  13761000 | PA      | $13609329.01  | 0.30%             | 2028-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Rogers Communications, Inc.                                               | Rogers Communications, Inc.                                                | CUSIP: 775109CJ8<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   8577000 | PA      | $7348366.62   | 0.16%             | 2042-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AEP Transmission Co. LLC                                                  | AEP Transmission Co. LLC                                                   | CUSIP: 00115AAQ2<br>LEI: 549300X123Z1I0LA3Y84 | Long             | DBT              | CORP              | US        |   5852000 | PA      | $5621793.20   | 0.12%             | 2053-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Cummins, Inc.                                                             | Cummins, Inc.                                                              | CUSIP: 231021AX4<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | DBT              | CORP              | US        |   7545000 | PA      | $7306870.07   | 0.16%             | 2054-02-20      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| FTAI Aviation Investors LLC                                               | FTAI Aviation Investors LLC                                                | CUSIP: 34960PAF8<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |  10320000 | PA      | $10707474.72  | 0.24%             | 2031-05-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Boeing Co. (The)                                                          | Boeing Co. (The)                                                           | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |  15298000 | PA      | $15540803.43  | 0.34%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                         | HSBC Holdings plc                                                          | CUSIP: 404280ES4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   8020000 | PA      | $8070479.89   | 0.18%             | 2036-03-03      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| WEC Energy Group, Inc.                                                    | WEC Energy Group, Inc.                                                     | CUSIP: 92939UAK2<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |  22326000 | PA      | $22327228.60  | 0.49%             | 2026-01-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                            | Morgan Stanley                                                             | CUSIP: 6174468P7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  23279000 | PA      | $22297628.83  | 0.49%             | 2031-04-01      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                        | Energy Transfer LP                                                         | CUSIP: 29273VAW0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   7124000 | PA      | $6733784.25   | 0.15%             | 2054-05-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Shift4 Payments LLC                                                       | Shift4 Payments LLC                                                        | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10367000 | PA      | $10709059.17  | 0.24%             | 2032-08-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Truist Financial Corp.                                                    | Truist Financial Corp.                                                     | CUSIP: 89788MAT9<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   4640000 | PA      | $4719193.20   | 0.10%             | 2032-08-05      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| Jersey Central Power & Light Co.                                          | Jersey Central Power & Light Co., Series WI*                               | CUSIP: 476556DF9<br>LEI: 549300W9UGH9ZPLNPF79 | Long             | DBT              | CORP              | US        |   3866000 | PA      | $3850058.90   | 0.08%             | 2035-01-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co.                                                     | Kraft Heinz Foods Co.                                                      | CUSIP: 50077LAZ9<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |  12944000 | PA      | $10821822.01  | 0.24%             | 2049-10-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Rogers Communications, Inc.                                               | Rogers Communications, Inc.                                                | CUSIP: 775109CK5<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   3085000 | PA      | $2502450.38   | 0.06%             | 2052-03-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                        | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9915000 | PA      | $8977722.66   | 0.20%             | 2044-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Northern States Power Co.                                                 | Northern States Power Co.                                                  | CUSIP: 665772CZ0<br>LEI: 3S1GHB0TEH85KX44SB51 | Long             | DBT              | CORP              | US        |  15877000 | PA      | $15960423.00  | 0.35%             | 2035-05-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| SCIH Salt Holdings, Inc.                                                  | SCIH Salt Holdings, Inc.                                                   | CUSIP: 78433BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  18888000 | PA      | $18339656.81  | 0.40%             | 2028-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Engie Energia Chile SA                                                    | Engie Energia Chile SA                                                     | CUSIP: 29287TAB5<br>LEI: 5493000FIKCC3ZDWTO77 | Long             | DBT              | CORP              | CL        |  16327000 | PA      | $17127431.18  | 0.38%             | 2034-04-17      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                     | Bank of America Corp.                                                      | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  12703000 | PA      | $11390589.43  | 0.25%             | 2032-04-22      | Variable      | 2.69%                 | No            |                  2 | On Loan: No      |
| CNH Industrial Capital LLC                                                | CNH Industrial Capital LLC                                                 | CUSIP: 12592BAP9<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |  17462000 | PA      | $17488701.14  | 0.38%             | 2025-10-14      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                            | Morgan Stanley                                                             | CUSIP: 6174468G7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   3224000 | PA      | $3213959.24   | 0.07%             | 2030-01-23      | Variable      | 4.43%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                                                         | NatWest Group plc                                                          | CUSIP: 639057AJ7<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |  10295000 | PA      | $10362632.80  | 0.23%             | 2027-03-02      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| Boston Properties LP                                                      | Boston Properties LP                                                       | CUSIP: 10112RAY0<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |   9750000 | PA      | $9537739.38   | 0.21%             | 2026-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                                 | XPLR Infrastructure Operating Partners LP                                  | CUSIP: 65342QAM4<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5099018.30   | 0.11%             | 2029-01-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| JBS USA Holding Lux SARL                                                  | JBS USA Holding Lux SARL                                                   | CUSIP: 46590XAU0<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   8055000 | PA      | $7366739.72   | 0.16%             | 2032-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Macquarie Airfinance Holdings Ltd.                                        | Macquarie Airfinance Holdings Ltd.                                         | CUSIP: 55609NAD0<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |   7609000 | PA      | $8054712.39   | 0.18%             | 2031-03-26      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Accenture Capital, Inc.                                                   | Accenture Capital, Inc.                                                    | CUSIP: 00440KAC7<br>LEI: 254900FRO0P7RIINYT25 | Long             | DBT              | CORP              | US        |   9441000 | PA      | $9297037.50   | 0.20%             | 2031-10-04      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                                        | LPL Holdings, Inc.                                                         | CUSIP: 50212YAM6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |  15512000 | PA      | $15564221.46  | 0.34%             | 2035-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                                                           | Eli Lilly & Co.                                                            | CUSIP: 532457CY2<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |   6063000 | PA      | $6034396.28   | 0.13%             | 2055-02-12      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                                             | Comcast Corp.                                                              | CUSIP: 20030NDS7<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |  13896000 | PA      | $8348635.65   | 0.18%             | 2051-11-01      | Fixed         | 2.89%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                       | CUSIP: 46647PDA1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   4363000 | PA      | $4350705.76   | 0.10%             | 2028-04-26      | Variable      | 4.32%                 | No            |                  2 | On Loan: No      |
| Carnival Corp.                                                            | Carnival Corp.                                                             | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |  15087000 | PA      | $15189138.99  | 0.33%             | 2032-08-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Videotron Ltd.                                                            | Videotron Ltd.                                                             | CUSIP: 92660FAT1<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |  15385000 | PA      | $15438432.11  | 0.34%             | 2035-01-15      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| Kroger Co. (The)                                                          | Kroger Co. (The)                                                           | CUSIP: 501044DW8<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |  12325000 | PA      | $11630318.38  | 0.26%             | 2054-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Danaher Corp.                                                             | Danaher Corp.                                                              | CUSIP: 235851AV4<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | DBT              | CORP              | US        |  16527000 | PA      | $9940261.82   | 0.22%             | 2050-10-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Westinghouse Air Brake Technologies Corp.                                 | Westinghouse Air Brake Technologies Corp.                                  | CUSIP: 960386AR1<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |   8326000 | PA      | $8608288.03   | 0.19%             | 2034-03-11      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                       | CUSIP: 46647PDW3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  25493000 | PA      | $25954954.06  | 0.57%             | 2027-10-22      | Variable      | 6.07%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                                        | LPL Holdings, Inc.                                                         | CUSIP: 50212YAH7<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   3337000 | PA      | $3543274.82   | 0.08%             | 2028-11-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Xcel Energy, Inc.                                                         | Xcel Energy, Inc.                                                          | CUSIP: 98389BBE9<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |   2148000 | PA      | $2187841.81   | 0.05%             | 2035-04-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Canadian Pacific Railway Co.                                              | Canadian Pacific Railway Co.                                               | CUSIP: 13645RBH6<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |  21527000 | PA      | $14059466.25  | 0.31%             | 2051-12-02      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                              | Oracle Corp.                                                               | CUSIP: 68389XCQ6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |  12451000 | PA      | $11503182.94  | 0.25%             | 2053-02-06      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp.                                                         | NTT Finance Corp.                                                          | CUSIP: 62954WAU9<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |  15965000 | PA      | $16102816.90  | 0.35%             | 2032-07-16      | Fixed         | 5.17%                 | Yes           |                  2 | On Loan: No      |
| ARDN Mortgage Trust                                                       | ARDN Mortgage Trust, Series 2025-ARCP, Class A                             | CUSIP: 039961AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16374000 | PA      | $16380993.34  | 0.36%             | 2035-06-15      | Floating      | 6.09%                 | Yes           |                  2 | On Loan: No      |
| Stryker Corp.                                                             | Stryker Corp.                                                              | CUSIP: 863667BF7<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |  15607000 | PA      | $15259906.87  | 0.34%             | 2034-09-11      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                          | Boeing Co. (The)                                                           | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   8727000 | PA      | $8611226.66   | 0.19%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                                              | Rockies Express Pipeline LLC                                               | CUSIP: 77340RAR8<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |  15327000 | PA      | $15027567.13  | 0.33%             | 2029-07-15      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| EPR Properties                                                            | EPR Properties                                                             | CUSIP: 26884UAG4<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |   4426000 | PA      | $3997389.79   | 0.09%             | 2031-11-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                      | American Tower Corp.                                                       | CUSIP: 03027XCH1<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |  11654000 | PA      | $11933069.25  | 0.26%             | 2034-02-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Duke Energy Florida LLC                                                   | Duke Energy Florida LLC                                                    | CUSIP: 26444HAR2<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |   8443000 | PA      | $8997727.31   | 0.20%             | 2053-11-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                                         | Venture Global Calcasieu Pass LLC                                          | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   4378000 | PA      | $4496245.40   | 0.10%             | 2030-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Commonwealth Bank of Australia                                            | Commonwealth Bank of Australia                                             | CUSIP: 202712BK0<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |  12534000 | PA      | $11880363.06  | 0.26%             | 2034-09-12      | Variable      | 3.61%                 | Yes           |                  2 | On Loan: No      |
| Fairfax Financial Holdings Ltd.                                           | Fairfax Financial Holdings Ltd.                                            | CUSIP: 303901BR2<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |  11191000 | PA      | $11282403.50  | 0.25%             | 2054-03-22      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                          | Boeing Co. (The)                                                           | CUSIP: 097023DR3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   6580000 | PA      | $7079075.89   | 0.16%             | 2031-05-01      | Fixed         | 6.39%                 | No            |                  2 | On Loan: No      |
| Mars, Inc.                                                                | Mars, Inc.                                                                 | CUSIP: 571676AT2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   9306000 | PA      | $9353753.46   | 0.21%             | 2028-04-20      | Fixed         | 4.55%                 | Yes           |                  2 | On Loan: No      |
| Fiserv, Inc.                                                              | Fiserv, Inc.                                                               | CUSIP: 337738AV0<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |  13109000 | PA      | $10470463.61  | 0.23%             | 2049-07-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Enel Finance International NV                                             | Enel Finance International NV                                              | CUSIP: 29278GAY4<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   4500000 | PA      | $4181585.81   | 0.09%             | 2052-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| AbbVie, Inc.                                                              | AbbVie, Inc.                                                               | CUSIP: 00287YDW6<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   8759000 | PA      | $8440300.37   | 0.19%             | 2054-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Constellation Brands, Inc.                                                | Constellation Brands, Inc.                                                 | CUSIP: 21036PBG2<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |   5973000 | PA      | $4340203.10   | 0.10%             | 2050-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                        | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  31005000 | PA      | $31460385.94  | 0.69%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                  | PNC Financial Services Group, Inc. (The)                                   | CUSIP: 693475CC7<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   6505000 | PA      | $6670759.04   | 0.15%             | 2036-01-29      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                                     | United Mexican States                                                      | CUSIP: 91087BBF6<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |  11920000 | PA      | $11979600.00  | 0.26%             | 2038-01-29      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                      | American Tower Corp.                                                       | CUSIP: 03027XAY6<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   6193000 | PA      | $4493302.72   | 0.10%             | 2049-10-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Pfizer Investment Enterprises Pte. Ltd.                                   | Pfizer Investment Enterprises Pte. Ltd.                                    | CUSIP: 716973AG7<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |   8900000 | PA      | $8310431.78   | 0.18%             | 2053-05-19      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                       | CUSIP: 46647PEG7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   9529000 | PA      | $9878050.03   | 0.22%             | 2030-04-22      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                 | Ford Motor Credit Co. LLC                                                  | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |  10040000 | PA      | $9958585.14   | 0.22%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Florida Power & Light Co.                                                 | Florida Power & Light Co.                                                  | CUSIP: 341081FQ5<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   8281000 | PA      | $6553484.03   | 0.14%             | 2048-03-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Corp.                                                         | FirstEnergy Corp., Series B                                                | CUSIP: 337932AH0<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |  13529000 | PA      | $13361112.96  | 0.29%             | 2027-07-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | U.S. Treasury 10 Year Ultra Note                                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -104 | NC      | $-88134.28    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Fairfax Financial Holdings Ltd.                                           | Fairfax Financial Holdings Ltd.                                            | CUSIP: 303901BJ0<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |  11222000 | PA      | $10370642.52  | 0.23%             | 2031-03-03      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                    | Truist Financial Corp.                                                     | CUSIP: 89788MAQ5<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |  12447000 | PA      | $13435734.54  | 0.30%             | 2029-10-30      | Variable      | 7.16%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                         | HSBC Holdings plc                                                          | CUSIP: 404280CK3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  21465000 | PA      | $19099386.35  | 0.42%             | 2031-08-18      | Variable      | 2.36%                 | No            |                  2 | On Loan: No      |
| Humana, Inc.                                                              | Humana, Inc.                                                               | CUSIP: 444859CA8<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |   8892000 | PA      | $9070277.58   | 0.20%             | 2031-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Mattel, Inc.                                                              | Mattel, Inc.                                                               | CUSIP: 577081BF8<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |  10426000 | PA      | $9982388.30   | 0.22%             | 2029-04-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Mastercard, Inc.                                                          | Mastercard, Inc.                                                           | CUSIP: 57636QBC7<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |  11064000 | PA      | $10808276.77  | 0.24%             | 2035-01-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Apple, Inc.                                                               | Apple, Inc.                                                                | CUSIP: 037833EK2<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |   6683000 | PA      | $4166604.10   | 0.09%             | 2051-08-05      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Adani Transmission Step-One Ltd.                                          | Adani Transmission Step-One Ltd.                                           | CUSIP: N/A<br>LEI: 335800Z8CGS7O7D72N41       | Long             | DBT              | CORP              | IN        |  14632000 | PA      | $14453207.20  | 0.32%             | 2026-08-03      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US Foods, Inc.                                                            | US Foods, Inc.                                                             | CUSIP: 90290MAJ0<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |   9882000 | PA      | $9791117.22   | 0.22%             | 2033-04-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| American International Group, Inc.                                        | American International Group, Inc.                                         | CUSIP: 026874DS3<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |  16737000 | PA      | $16942070.93  | 0.37%             | 2033-03-27      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Dick's Sporting Goods, Inc.                                               | Dick's Sporting Goods, Inc.                                                | CUSIP: 253393AG7<br>LEI: 529900SSBV5I4LWSK313 | Long             | DBT              | CORP              | US        |  12244000 | PA      | $8736201.01   | 0.19%             | 2052-01-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                        | Energy Transfer LP, Series G                                               | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   6504000 | PA      | $6659016.34   | 0.15%             | 2030-05-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| Flowers Foods, Inc.                                                       | Flowers Foods, Inc.                                                        | CUSIP: 343498AD3<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | DBT              | CORP              | US        |  15526000 | PA      | $15808694.15  | 0.35%             | 2035-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Jane Street Group                                                         | Jane Street Group                                                          | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19354000 | PA      | $19202347.86  | 0.42%             | 2032-11-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                     | Bank of America Corp.                                                      | CUSIP: 06051GKP3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  13536000 | PA      | $13507505.50  | 0.30%             | 2028-04-27      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| Paychex, Inc.                                                             | Paychex, Inc.                                                              | CUSIP: 704326AA5<br>LEI: 529900K900DW6SUBM174 | Long             | DBT              | CORP              | US        |   5597000 | PA      | $5718339.55   | 0.13%             | 2030-04-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| WMG Acquisition Corp.                                                     | WMG Acquisition Corp.                                                      | CUSIP: 92933BAQ7<br>LEI: 549300NAS11NXI33CP80 | Long             | DBT              | CORP              | US        |  10874000 | PA      | $10149106.54  | 0.22%             | 2030-07-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Huntington Ingalls Industries, Inc.                                       | Huntington Ingalls Industries, Inc.                                        | CUSIP: 446413BB1<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |   4416000 | PA      | $4539551.33   | 0.10%             | 2035-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Humana, Inc.                                                              | Humana, Inc.                                                               | CUSIP: 444859BE1<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |   7759000 | PA      | $6715707.87   | 0.15%             | 2044-10-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                                         | Alliant Holdings Intermediate LLC                                          | CUSIP: 01883LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14078000 | PA      | $14268404.95  | 0.31%             | 2028-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Mastercard, Inc.                                                          | Mastercard, Inc.                                                           | CUSIP: 57636QBB9<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |  11736000 | PA      | $11623413.62  | 0.26%             | 2032-01-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Flutter Treasury DAC                                                      | Flutter Treasury DAC                                                       | CUSIP: 344045AA7<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |  14904000 | PA      | $15327586.58  | 0.34%             | 2029-04-29      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| American International Group, Inc.                                        | American International Group, Inc.                                         | CUSIP: 026874DW4<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |   8082000 | PA      | $8188446.32   | 0.18%             | 2030-05-07      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                           | Goldman Sachs Group, Inc. (The)                                            | CUSIP: 38141GB78<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  14169000 | PA      | $13975190.61  | 0.31%             | 2035-10-23      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                                  | COLT Mortgage Loan Trust, Series 2024-6, Class A1                          | CUSIP: 19688XAA4<br>LEI: 213800U2X2TO1PQH1O75 | Long             | ABS-MBS          | CORP              | US        |   8842783 | PA      | $8832387.74   | 0.19%             | 2069-11-25      | Variable      | 5.39%                 | Yes           |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                              | Avolon Holdings Funding Ltd.                                               | CUSIP: 05401AAG6<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   4843000 | PA      | $4817801.63   | 0.11%             | 2026-05-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                  | Benchmark Mortgage Trust, Series 2021-B27, Class XA                        | CUSIP: 08163HAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        | 194106836 | PA      | $10009604.29  | 0.22%             | 2054-07-15      | Variable      | 1.23%                 | No            |                  2 | On Loan: No      |
| Algonquin Power & Utilities Corp.                                         | Algonquin Power & Utilities Corp.                                          | CUSIP: 015857AF2<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |   5767000 | PA      | $5797574.04   | 0.13%             | 2026-06-15      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| Kenvue, Inc.                                                              | Kenvue, Inc.                                                               | CUSIP: 49177JAM4<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | DBT              | CORP              | US        |  10021000 | PA      | $9572518.36   | 0.21%             | 2043-03-22      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| OBX Trust                                                                 | OBX Trust, Series 2024-NQM1, Class A1                                      | CUSIP: 67448LAA0<br>LEI: 254900UI1468MQ7I8472 | Long             | ABS-MBS          | CORP              | US        |   3231631 | PA      | $3244077.07   | 0.07%             | 2063-11-25      | Variable      | 5.93%                 | Yes           |                  2 | On Loan: No      |
| Burlington Northern Santa Fe LLC                                          | Burlington Northern Santa Fe LLC                                           | CUSIP: 12189LBK6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15724000 | PA      | $14678907.96  | 0.32%             | 2054-04-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Prologis LP                                                               | Prologis LP                                                                | CUSIP: 74340XCH2<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              | CORP              | US        |  14126000 | PA      | $14279040.66  | 0.31%             | 2034-01-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                                     | Ashtead Capital, Inc.                                                      | CUSIP: 045054AQ6<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   9885000 | PA      | $9990833.06   | 0.22%             | 2033-05-30      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                                              | Rockies Express Pipeline LLC                                               | CUSIP: 77340RAM9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   3106000 | PA      | $3126490.28   | 0.07%             | 2040-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                                                    | Home Depot, Inc. (The)                                                     | CUSIP: 437076CC4<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |  15616000 | PA      | $12362174.97  | 0.27%             | 2040-04-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | U.S. Treasury Ultra Bond                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       621 | NC      | $1590279.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp.                                                       | Regal Rexnord Corp.                                                        | CUSIP: 758750AN3<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |  14860000 | PA      | $15555342.79  | 0.34%             | 2030-02-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                                      | Mitsubishi UFJ Financial Group, Inc.                                       | CUSIP: 606822BZ6<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |  14185000 | PA      | $13684942.15  | 0.30%             | 2027-10-13      | Variable      | 1.64%                 | No            |                  2 | On Loan: No      |
| Rentokil Terminix Funding LLC                                             | Rentokil Terminix Funding LLC                                              | CUSIP: 760130AA2<br>LEI: 984500D5BAA7560EKJ44 | Long             | DBT              | CORP              | US        |   6759000 | PA      | $6787745.22   | 0.15%             | 2030-04-28      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CNH Industrial NV                                                         | CNH Industrial NV                                                          | CUSIP: 12594KAB8<br>LEI: 549300WGC2HZ5J67V817 | Long             | DBT              | CORP              | NL        |   5323000 | PA      | $5260615.34   | 0.12%             | 2027-11-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| KREF Ltd.                                                                 | KREF Ltd., Series 2021-FL2, Class AS                                       | CUSIP: 48275RAC1<br>LEI: 54930083ELM2GCMVTQ91 | Long             | ABS-CBDO         | CORP              | KY        |   9074500 | PA      | $9009009.33   | 0.20%             | 2039-02-15      | Floating      | 5.76%                 | Yes           |                  2 | On Loan: No      |
| Westinghouse Air Brake Technologies Corp.                                 | Westinghouse Air Brake Technologies Corp.                                  | CUSIP: 960386AM2<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |  10836000 | PA      | $10892777.82  | 0.24%             | 2028-09-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Enel Finance International NV                                             | Enel Finance International NV                                              | CUSIP: 29278GAW8<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |  13065000 | PA      | $13099538.24  | 0.29%             | 2027-06-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                     | Bank of America Corp.                                                      | CUSIP: 06051GLS6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   9904000 | PA      | $10289192.90  | 0.23%             | 2029-09-15      | Variable      | 5.82%                 | No            |                  2 | On Loan: No      |
| Cellnex Finance Co. SA                                                    | Cellnex Finance Co. SA                                                     | CUSIP: 15118JAA3<br>LEI: 549300OUROMFTRFA7T23 | Long             | DBT              | CORP              | ES        |  20384000 | PA      | $15902966.93  | 0.35%             | 2041-07-07      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                                                   | Kingdom of Saudi Arabia                                                    | CUSIP: 80413TBJ7<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |  13484000 | PA      | $13719085.58  | 0.30%             | 2028-01-13      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                                         | Rocket Cos., Inc.                                                          | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5461000 | PA      | $5537194.60   | 0.12%             | 2030-08-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.                                     | Sumitomo Mitsui Financial Group, Inc.                                      | CUSIP: 86562MCE8<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |  28730000 | PA      | $24633912.19  | 0.54%             | 2031-01-12      | Fixed         | 1.71%                 | No            |                  2 | On Loan: No      |
| Melco Resorts Finance Ltd.                                                | Melco Resorts Finance Ltd.                                                 | CUSIP: 58547DAH2<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |   5546000 | PA      | $5700334.09   | 0.13%             | 2032-04-17      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| CaixaBank SA                                                              | CaixaBank SA                                                               | CUSIP: 12803RAC8<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |  21476000 | PA      | $23609671.31  | 0.52%             | 2034-09-13      | Variable      | 6.84%                 | Yes           |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                              | Avolon Holdings Funding Ltd.                                               | CUSIP: 05401AAP6<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   5143000 | PA      | $4878204.16   | 0.11%             | 2028-02-21      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| American Homes 4 Rent LP                                                  | American Homes 4 Rent LP                                                   | CUSIP: 02666TAJ6<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |  22341000 | PA      | $22178981.28  | 0.49%             | 2035-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                                         | Rocket Cos., Inc.                                                          | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5461000 | PA      | $5570128.26   | 0.12%             | 2033-08-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Anheuser-Busch InBev Worldwide, Inc.                                      | Anheuser-Busch InBev Worldwide, Inc.                                       | CUSIP: 035240AM2<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |   4622000 | PA      | $4288171.29   | 0.09%             | 2038-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Mars, Inc.                                                                | Mars, Inc.                                                                 | CUSIP: 571676AF2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |  10409000 | PA      | $8171530.07   | 0.18%             | 2049-04-01      | Fixed         | 3.95%                 | Yes           |                  2 | On Loan: No      |
| Coty, Inc.                                                                | Coty, Inc.                                                                 | CUSIP: 222070AG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13979000 | PA      | $13708451.83  | 0.30%             | 2029-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Osaic Holdings, Inc.                                                      | Osaic Holdings, Inc.                                                       | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |   2507000 | PA      | $2537237.48   | 0.06%             | 2032-08-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Kraft Heinz Foods Co.                                                     | Kraft Heinz Foods Co.                                                      | CUSIP: 50077LBJ4<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |  11964000 | PA      | $10815661.90  | 0.24%             | 2050-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Plains All American Pipeline LP                                           | Plains All American Pipeline LP                                            | CUSIP: 72650RBQ4<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |  10914000 | PA      | $11200731.95  | 0.25%             | 2035-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Adani Transmission Step-One Ltd.                                          | Adani Transmission Step-One Ltd.                                           | CUSIP: N/A<br>LEI: 335800Z8CGS7O7D72N41       | Long             | DBT              | CORP              | IN        |   4769090 | PA      | $4117301.33   | 0.09%             | 2036-05-21      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                               | Toronto-Dominion Bank (The)                                                | CUSIP: 89115A2H4<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  13991000 | PA      | $14075528.87  | 0.31%             | 2027-09-15      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| Rio Tinto Finance USA plc                                                 | Rio Tinto Finance USA plc                                                  | CUSIP: 76720AAT3<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |   7260000 | PA      | $7373265.44   | 0.16%             | 2032-03-14      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NXP BV                                                                    | NXP BV                                                                     | CUSIP: 62954HBB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3324000 | PA      | $3314078.86   | 0.07%             | 2033-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners LP                                               | Cheniere Energy Partners LP                                                | CUSIP: 16411QAV3<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |  16893000 | PA      | $16978165.21  | 0.37%             | 2035-10-30      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| Arrow Electronics, Inc.                                                   | Arrow Electronics, Inc.                                                    | CUSIP: 04273WAE1<br>LEI: 549300YNNLBXT8N8R512 | Long             | DBT              | CORP              | US        |  15431000 | PA      | $15868096.50  | 0.35%             | 2034-04-10      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                                        | LPL Holdings, Inc.                                                         | CUSIP: 50212YAF1<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |  16854000 | PA      | $16114556.87  | 0.35%             | 2031-05-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Becton Dickinson & Co.                                                    | Becton Dickinson & Co.                                                     | CUSIP: 075887BG3<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |   6838000 | PA      | $5951094.99   | 0.13%             | 2044-12-15      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                                       | Rocket Mortgage LLC                                                        | CUSIP: 74841CAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8010000 | PA      | $7388561.77   | 0.16%             | 2031-03-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| MF1                                                                       | MF1, Series 2024-FL15, Class A                                             | CUSIP: 58003MAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  14356000 | PA      | $14357737.08  | 0.32%             | 2041-08-18      | Floating      | 6.04%                 | Yes           |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                              | Pacific Gas and Electric Co.                                               | CUSIP: 694308HR1<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   9079000 | PA      | $6579030.07   | 0.14%             | 2046-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                           | TransDigm, Inc.                                                            | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  16762000 | PA      | $17371667.46  | 0.38%             | 2030-12-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Commonwealth Bank of Australia                                            | Commonwealth Bank of Australia                                             | CUSIP: 202712BQ7<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |  18459000 | PA      | $13674524.11  | 0.30%             | 2041-03-11      | Fixed         | 3.31%                 | Yes           |                  2 | On Loan: No      |
| MC Brazil Downstream Trading SARL                                         | MC Brazil Downstream Trading SARL                                          | CUSIP: N/A<br>LEI: 213800T2A7R9TYNXZI63       | Long             | DBT              | CORP              | LU        |  15149052 | PA      | $12341932.88  | 0.27%             | 2031-06-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                        | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9101000 | PA      | $8945998.59   | 0.20%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JH North America Holdings, Inc.                                           | JH North America Holdings, Inc.                                            | CUSIP: 46593WAA3<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |   9787000 | PA      | $9820510.69   | 0.22%             | 2031-01-31      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                                         | HSBC Holdings plc                                                          | CUSIP: 404280ER6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  11995000 | PA      | $12160860.02  | 0.27%             | 2031-03-03      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                         | Wells Fargo & Co.                                                          | CUSIP: 95000U3D3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   4281000 | PA      | $4380137.86   | 0.10%             | 2034-04-24      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                          | Boeing Co. (The)                                                           | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |  33463000 | PA      | $32294769.53  | 0.71%             | 2050-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Florida Power & Light Co.                                                 | Florida Power & Light Co.                                                  | CUSIP: 341081GG6<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   6909000 | PA      | $6091508.60   | 0.13%             | 2032-02-03      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Roche Holdings, Inc.                                                      | Roche Holdings, Inc.                                                       | CUSIP: 771196CG5<br>LEI: PVJRP0EQNV6OGDPZGY95 | Long             | DBT              | CORP              | US        |   8859000 | PA      | $9304236.77   | 0.20%             | 2030-11-13      | Fixed         | 5.49%                 | Yes           |                  2 | On Loan: No      |
| Eastern Energy Gas Holdings LLC                                           | Eastern Energy Gas Holdings LLC                                            | CUSIP: 27636AAA0<br>LEI: 549300BFOD6TDMVV4O24 | Long             | DBT              | CORP              | US        |  18259000 | PA      | $17480059.92  | 0.38%             | 2054-10-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Icon Investments Six DAC                                                  | Icon Investments Six DAC                                                   | CUSIP: 45115AAA2<br>LEI: 635400FQ1M7J2CHLAS59 | Long             | DBT              | CORP              | IE        |  17938000 | PA      | $18234784.39  | 0.40%             | 2027-05-08      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                            | Morgan Stanley                                                             | CUSIP: 61747YFG5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  11137000 | PA      | $11405517.41  | 0.25%             | 2034-07-21      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Brown & Brown, Inc.                                                       | Brown & Brown, Inc.                                                        | CUSIP: 115236AN1<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |   3685000 | PA      | $3775718.77   | 0.08%             | 2055-06-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Biogen, Inc.                                                              | Biogen, Inc.                                                               | CUSIP: 09062XAN3<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | DBT              | CORP              | US        |  12034000 | PA      | $12197185.13  | 0.27%             | 2031-01-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Targa Resources Corp.                                                     | Targa Resources Corp.                                                      | CUSIP: 87612GAA9<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   7413000 | PA      | $6930508.29   | 0.15%             | 2033-02-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Energy Co.                                             | Berkshire Hathaway Energy Co.                                              | CUSIP: 59562VBD8<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |   3795000 | PA      | $3583677.70   | 0.08%             | 2043-11-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                                     | Ashtead Capital, Inc.                                                      | CUSIP: 045054AF0<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   3228000 | PA      | $3203222.00   | 0.07%             | 2027-08-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Bayview Financial Revolving Asset Trust                                   | Bayview Financial Revolving Asset Trust, Series 2005-E, Class M1           | CUSIP: 073250BW1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    149726 | PA      | $308637.60    | 0.01%             | 2040-12-28      | Floating      | 6.07%                 | Yes           |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                             | Massachusetts Educational Financing Authority, Series 2024A                | CUSIP: 57563RTX7<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   9330000 | PA      | $9530386.01   | 0.21%             | 2049-07-01      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                                                | Corebridge Financial, Inc.                                                 | CUSIP: 21871XAP4<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   8970000 | PA      | $9212827.86   | 0.20%             | 2052-12-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| COPT Defense Properties LP                                                | COPT Defense Properties LP                                                 | CUSIP: 22003BAM8<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |  17594000 | PA      | $15588644.15  | 0.34%             | 2031-04-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Store Capital LLC                                                         | Store Capital LLC                                                          | CUSIP: 862121AD2<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              | CORP              | US        |  23100000 | PA      | $19664665.71  | 0.43%             | 2031-12-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                                            | Enbridge, Inc.                                                             | CUSIP: 29250NCD5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   6760000 | PA      | $6696017.75   | 0.15%             | 2054-04-05      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                                      | Mitsubishi UFJ Financial Group, Inc.                                       | CUSIP: 606822DK7<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |   6954000 | PA      | $7100035.25   | 0.16%             | 2031-04-24      | Variable      | 5.16%                 | No            |                  2 | On Loan: No      |
| Bacardi Ltd.                                                              | Bacardi Ltd.                                                               | CUSIP: 05635JAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  20190000 | PA      | $20214223.76  | 0.44%             | 2033-06-15      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: No      |
| American Transmission Systems, Inc.                                       | American Transmission Systems, Inc.                                        | CUSIP: 030288AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4691000 | PA      | $4126450.67   | 0.09%             | 2032-01-15      | Fixed         | 2.65%                 | Yes           |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                                   | GFL Environmental, Inc.                                                    | CUSIP: 36168QAQ7<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   4300000 | PA      | $4456252.07   | 0.10%             | 2031-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                                  | UnitedHealth Group, Inc.                                                   | CUSIP: 91324PEQ1<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   8423000 | PA      | $8665141.12   | 0.19%             | 2030-02-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Japan Tobacco, Inc.                                                       | Japan Tobacco, Inc.                                                        | CUSIP: 471105AD8<br>LEI: 353800Z0ENYBQO0XRJ31 | Long             | DBT              | CORP              | JP        |  15373000 | PA      | $15778734.05  | 0.35%             | 2030-06-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| UniCredit SpA                                                             | UniCredit SpA                                                              | CUSIP: 904678AW9<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |  10140000 | PA      | $9920223.31   | 0.22%             | 2027-06-03      | Variable      | 1.98%                 | Yes           |                  2 | On Loan: No      |
| Las Vegas Sands Corp.                                                     | Las Vegas Sands Corp.                                                      | CUSIP: 517834AL1<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |   8932000 | PA      | $9158711.85   | 0.20%             | 2034-08-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Arthur J Gallagher & Co.                                                  | Arthur J Gallagher & Co.                                                   | CUSIP: 04316JAF6<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |  14386000 | PA      | $15695344.67  | 0.35%             | 2034-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Vulcan Materials Co.                                                      | Vulcan Materials Co.                                                       | CUSIP: 929160BD0<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |   7935000 | PA      | $7847352.05   | 0.17%             | 2054-12-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Columbia Pipelines Operating Co. LLC                                      | Columbia Pipelines Operating Co. LLC                                       | CUSIP: 19828TAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8216000 | PA      | $8458398.87   | 0.19%             | 2043-08-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                      | Charter Communications Operating LLC                                       | CUSIP: 161175CQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21111000 | PA      | $22022106.43  | 0.48%             | 2029-06-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Marsh & McLennan Cos., Inc.                                               | Marsh & McLennan Cos., Inc.                                                | CUSIP: 571748CB6<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |  21665000 | PA      | $21922012.54  | 0.48%             | 2031-11-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Lincoln National Corp.                                                    | Lincoln National Corp.                                                     | CUSIP: 534187BT5<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |  13260000 | PA      | $13575459.51  | 0.30%             | 2034-03-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Elevance Health, Inc.                                                     | Elevance Health, Inc.                                                      | CUSIP: 036752BA0<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |  15203000 | PA      | $14394829.04  | 0.32%             | 2054-06-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                                         | HSBC Holdings plc                                                          | CUSIP: 404280CY3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   8263000 | PA      | $7317173.89   | 0.16%             | 2032-11-22      | Variable      | 2.87%                 | No            |                  2 | On Loan: No      |
| Fiserv, Inc.                                                              | Fiserv, Inc.                                                               | CUSIP: 337738BB3<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |  11598000 | PA      | $11142111.50  | 0.25%             | 2027-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                              | Royal Caribbean Cruises Ltd.                                               | CUSIP: 780153BV3<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   9140000 | PA      | $9290840.80   | 0.20%             | 2033-02-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Vulcan Materials Co.                                                      | Vulcan Materials Co.                                                       | CUSIP: 929160AZ2<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |   4932000 | PA      | $4693930.44   | 0.10%             | 2030-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Mars, Inc.                                                                | Mars, Inc.                                                                 | CUSIP: 571676BC8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |  13975000 | PA      | $13789754.53  | 0.30%             | 2055-05-01      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-02

**Name of Applicant:** MFS Series Trust IX

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer