# EDGAR Filing Document

**Accession Number:** 0001820378
**File Stem:** 0001410368-26-051162
**Filing Date:** 2026-5
**Character Count:** 82978
**Document Hash:** 6ef71778746523f410253e93eb4a50bd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-051162.hdr.sgml**: 20260526

**ACCESSION NUMBER**: 0001410368-26-051162

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260526

**DATE AS OF CHANGE**: 20260526

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Thornburg Income Builder Opportunities Trust
- **CENTRAL INDEX KEY:** 0001820378

**ORGANIZATION NAME:**
- **EIN:** 852281958
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23600
- **FILM NUMBER:** 261016864

**BUSINESS ADDRESS:**
- **STREET 1:** 2300 NORTH RIDGETOP ROAD, SANTA FE
- **CITY:** SANTA FE
- **STATE:** NM
- **ZIP:** 87506
- **BUSINESS PHONE:** (505) 984-0200

**MAIL ADDRESS:**
- **STREET 1:** 2300 NORTH RIDGETOP ROAD, SANTA FE
- **CITY:** SANTA FE
- **STATE:** NM
- **ZIP:** 87506

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Thornburg Income Builder Opportunities Trust

- **b. Investment Company Act file number:** 811-23600

- **c. CIK number of Registrant:** 0001820378

- **d. LEI of Registrant:** 5493002O2SJJPEDP7413

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

  - **Street Address 1:** 2300 NORTH RIDGETOP ROAD

  - **City:** Santa Fe

  - **State:** NM

  - **Foreign country:** US

  - **Zip / Postal Code:** 87506

  - **Telephone number:** 505-984-0200

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

- **a. Name of Series:** Thornburg Income Builder Opportunities Trust

- **c. LEI of Series:** 5493002O2SJJPEDP7413

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2026-03-31

**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:** $728528871.15

**Total Liabilities:** $1990276.41

**Net Assets:** $726538594.74

**Cash Not Reported:** $683731.98

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 5.42%                | 6.24%                | -5.46%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1560454.70              | $27459834.70                               |
| Month 2  | $7324001.90              | $30651772.43                               |
| Month 3  | $4378811.48              | $-34119738.55                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ACCO BRANDS CORP                                 | ACCO Brands Corp                                                          | CUSIP: 00081TAK4<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | DBT              | CORP              | US        |      500000 | PA      | $446575.00    | 0.06%             | 2029-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AES ESPANA BV                                    | AES Espana BV                                                             | CUSIP: 00109YAA3<br>LEI: 7245003VZ59682IZLJ86 | Long             | DBT              | CORP              | NL        |     2000000 | PA      | $1960640.00   | 0.27%             | 2028-05-04      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                         | AT&T Inc                                                                  | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |      983953 | NS      | $28524797.47  | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ASP WHCO PARTN 2025 2 LP                         | ASP WHCO PARTN 2025 2 LP                                                  | CUSIP: 00218YAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     2500000 | PA      | $2494255.75   | 0.34%             | 2029-03-29      | Variable      | 6.78%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                       | AbbVie Inc                                                                | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |       25123 | NS      | $5464001.27   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Affirm Inc                                       | Affirm Asset Securitization Trust 2023-X1                                 | CUSIP: 00834KAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      306947 | PA      | $306946.76    | 0.04%             | 2028-11-15      | Fixed         | 9.55%                 | No            |                  2 | On Loan: No      |
| ANGLOGOLD HOLDINGS PLC                           | AngloGold Ashanti Holdings PLC                                            | CUSIP: 03512TAB7<br>LEI: 213800745ZIXC4L6A131 | Long             | DBT              | CORP              | IM        |     2000000 | PA      | $2104800.00   | 0.29%             | 2040-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ANTARES HOLDINGS                                 | Antares Holdings LP                                                       | CUSIP: 03666HAC5<br>LEI: 5493008EAIGV4283RM42 | Long             | DBT              | CORP              | US        |     2000000 | PA      | $1992260.00   | 0.27%             | 2026-07-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| APA CORP                                         | APA Corp                                                                  | CUSIP: 03743QAW8<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |     2000000 | PA      | $2011960.00   | 0.28%             | 2027-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Aqua Finance Trust                               | Aqua Finance Trust 2020-A                                                 | CUSIP: 038413AD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      480187 | PA      | $475792.94    | 0.07%             | 2046-07-17      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| Legal & General Group PLC                        | Legal & General Group PLC                                                 | CUSIP: 000000000<br>LEI: 213800JH9QQWHLO99821 | Long             | EC               | CORP              | GB        |     1643600 | NS      | $5401415.01   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2025-LIFE                                                        | CUSIP: 05616HAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2000000 | PA      | $1981020.60   | 0.27%             | 2047-06-13      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                           | Bank of New York Mellon Corp/The                                          | CUSIP: 064058AL4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     2500000 | PA      | $2450825.00   | 0.34%             | 2026-12-20      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BACARDI LTD                                      | Bacardi Ltd                                                               | CUSIP: 067316AG4<br>LEI: 549300R32WTQNHNN5055 | Long             | DBT              | CORP              | BM        |     3000000 | PA      | $2782440.00   | 0.38%             | 2038-05-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Barclays Mortgage Loan Trust                     | Barclays Mortgage Trust 2021-NPL1                                         | CUSIP: 06744JAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1440863 | PA      | $1441560.15   | 0.20%             | 2051-11-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Barclays Mortgage Loan Trust                     | Barclays Mortgage Loan Trust 2022-INV1                                    | CUSIP: 06744YAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1307636 | PA      | $1284990.78   | 0.18%             | 2062-02-25      | Variable      | 4.53%                 | No            |                  2 | On Loan: No      |
| Barclays Mortgage Loan Trust                     | Barclays Mortgage Trust 2022-RPL1                                         | CUSIP: 06745CAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1509983 | PA      | $1519351.49   | 0.21%             | 2028-02-25      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| BECLE SA DE CV                                   | Becle SAB de CV                                                           | CUSIP: 07586PAA9<br>LEI: 529900JY55CZKMJLCE09 | Long             | DBT              | CORP              | MX        |     2500000 | PA      | $2137650.00   | 0.29%             | 2031-10-14      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BOF URSA FUNDING                                 | BOF VII AL Funding Trust I                                                | CUSIP: 097093AB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      457823 | PA      | $463274.42    | 0.06%             | 2032-07-26      | Fixed         | 6.29%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co                          | Bristol-Myers Squibb Co                                                   | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |       38400 | NS      | $2328960.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                              | CUSIP: 1248EPCJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1357000 | PA      | $1213375.12   | 0.17%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                              | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2000000 | PA      | $1788320.00   | 0.25%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CD&R SMOKEY / RADIO SYS                          | CD&R Smokey Buyer Inc / Radio Systems Corp                                | CUSIP: 12515KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1500000 | PA      | $1272075.00   | 0.18%             | 2029-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CME Group Inc                                    | CME Group Inc                                                             | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |       49000 | NS      | $14472150.00  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Credit Suisse Mortgage Trust                     | CSMC 2021-NQM8                                                            | CUSIP: 12659FAD7<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |     3000000 | PA      | $2278215.78   | 0.31%             | 2066-10-25      | Variable      | 3.26%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                     | CSMC 2021-BPNY                                                            | CUSIP: 12659XAA4<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |     1849057 | PA      | $1816477.25   | 0.25%             | 2026-08-15      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                     | CSMC 2022-NQM5 Trust                                                      | CUSIP: 12663DAE4<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |     1178918 | PA      | $1174728.96   | 0.16%             | 2067-05-25      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| Capital Power Corp                               | Capital Power Corp                                                        | CUSIP: 14042M102<br>LEI: 549300QRKTEXGXYVPO80 | Long             | EC               | CORP              | CA        |       82619 | NS      | $3913281.51   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Auto Receivables Trust                   | Carvana Auto Receivables Trust 2021-N4                                    | CUSIP: 14687HAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1011517 | PA      | $997629.78    | 0.14%             | 2028-09-11      | Fixed         | 4.53%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                   | Carvana Auto Receivables Trust 2021-P3                                    | CUSIP: 14687JAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        2500 | PA      | $199531.84    | 0.03%             | 2028-09-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                   | Carvana Auto Receivables Trust 2022-P1                                    | CUSIP: 14688DAK7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    25588676 | PA      | $70640.10     | 0.01%             | 2029-01-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                   | Carvana Auto Receivables Trust 2022-P1                                    | CUSIP: 14688DAM3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        3000 | PA      | $622611.80    | 0.09%             | 2029-01-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CNTL AMR BOTTLING CORP                           | Central American Bottling Corp / CBC Bottling Holdco SL / Beliv Holdco SL | CUSIP: 15239XAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |     2000000 | PA      | $1950680.00   | 0.27%             | 2029-04-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chimera Investment Corp                          | Chimera Investment Corp                                                   | CUSIP: 16934Q802<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EC               |  | US        |      140215 | NS      | $1759698.25   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                                | Cisco Systems Inc                                                         | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      174100 | NS      | $13508419.00  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                                    | Citigroup Inc                                                             | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |       50610 | NS      | $5739680.10   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                | Citigroup Mortgage Loan Trust 2021-J3                                     | CUSIP: 17330BDP2<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |      350000 | PA      | $190239.07    | 0.03%             | 2051-09-25      | Variable      | 2.86%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                | Citigroup Mortgage Loan Trust 2021-J3                                     | CUSIP: 17330BDR8<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |      194288 | PA      | $81455.12     | 0.01%             | 2051-09-25      | Variable      | 2.86%                 | No            |                  2 | On Loan: No      |
| COBANK ACB                                       | CoBank ACB                                                                | CUSIP: 19075QAC6<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | USGA              | US        |     3500000 | PA      | $3503675.00   | 0.48%             | 2026-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Cogent IPv4 LLC                                  | Cogent Ipv4 LLC                                                           | CUSIP: 19240JAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      567000 | PA      | $584127.19    | 0.08%             | 2054-05-25      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| COMCAST HOLDINGS CORP                            | Comcast Holdings Corp                                                     | CUSIP: 200300507<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2100000 | PA      | $1287006.00   | 0.18%             | 2029-10-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                                    | CoreCivic Inc                                                             | CUSIP: 21871NAC5<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |     1867000 | PA      | $1948401.20   | 0.27%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CUSHMAN & WAKEFIELD US                           | Cushman & Wakefield US Borrower LLC                                       | CUSIP: 23166MAA1<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |     2000000 | PA      | $2002980.00   | 0.28%             | 2028-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                               | Dominican Republic International Bond                                     | CUSIP: 25714PFA1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   170000000 | PA      | $2947887.32   | 0.41%             | 2036-06-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| EMERA INC                                        | Emera Inc                                                                 | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |     3000000 | PA      | $3000630.00   | 0.41%             | 2076-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc                                     | Enbridge Inc                                                              | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |      250870 | NS      | $13599386.60  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| ENBRIDGE INC                                     | Enbridge Inc                                                              | CUSIP: 29250NAS4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     3500000 | PA      | $3471125.00   | 0.48%             | 2077-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                               | Meta Platforms Inc                                                        | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |       15200 | NS      | $8696376.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIR ISAAC CORP                                  | Fair Isaac Corp                                                           | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |     5000000 | PA      | $4853950.00   | 0.67%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fat Brands Fazoli's Native I, LLC                | FAT Brands Fazoli's Native I LLC                                          | CUSIP: 31200BAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2412001 | PA      | $1570619.05   | 0.22%             | 2051-07-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Non Gold Pool                                                 | CUSIP: 31288QTU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     2886680 | PA      | $2621826.47   | 0.36%             | 2052-07-01      | Floating      | 2.16%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Pool                                                          | CUSIP: 3132DWJS3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     2496631 | PA      | $2550816.73   | 0.35%             | 2053-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Pool                                                          | CUSIP: 3132DWMS9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     2942786 | PA      | $2961271.72   | 0.41%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Non Gold Pool                                                 | CUSIP: 31342WA43<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      273935 | PA      | $269245.80    | 0.04%             | 2047-11-01      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                           | CUSIP: 3140H54H1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      226868 | PA      | $225258.49    | 0.03%             | 2048-01-01      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                           | CUSIP: 3140JP5N1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      350352 | PA      | $358376.13    | 0.05%             | 2047-11-01      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                           | CUSIP: 3140JP5P6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      265036 | PA      | $271303.64    | 0.04%             | 2048-04-01      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                           | CUSIP: 3140K7V26<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       97419 | PA      | $99619.56     | 0.01%             | 2049-07-01      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                           | CUSIP: 3140QMN83<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     2256319 | PA      | $2164796.01   | 0.30%             | 2051-11-01      | Floating      | 1.53%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                           | CUSIP: 31418EW48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      847143 | PA      | $865581.43    | 0.12%             | 2053-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                           | CUSIP: 31418FT64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     1977678 | PA      | $1988068.56   | 0.27%             | 2056-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                    | FirstCash Inc                                                             | CUSIP: 33767DAD7<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |     3750000 | PA      | $3828225.00   | 0.53%             | 2032-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Fortiva Retail Credit Master Note Business Trust | Fortiva Retail Credit Master Note Business Trust                          | CUSIP: 34962AAZ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2000000 | PA      | $1986707.60   | 0.27%             | 2031-01-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                | GEO Group Inc/The                                                         | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |     2000000 | PA      | $2077320.00   | 0.29%             | 2029-04-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| GCAT                                             | GCAT 2021-CM2 Trust                                                       | CUSIP: 36167AAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      450444 | PA      | $423485.86    | 0.06%             | 2066-08-25      | Variable      | 2.35%                 | No            |                  2 | On Loan: No      |
| GABELLI DVD & INC TR                             | Gabelli Dividend & Income Trust/The                                       | CUSIP: 36242H872<br>LEI: 549300082N1MHBT8NI60 | Long             | EP               | CORP              | US        |         152 | NS      | $3657576.00   | 0.50%             |  |  |  | No            |                  3 | On Loan: No      |
| Glebe Funding Trust                              | Glebe Funding Trust 2024-1/The                                            | CUSIP: 37735RAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      450797 | PA      | $451478.55    | 0.06%             | 2028-11-29      | Variable      | 8.10%                 | No            |                  2 | On Loan: No      |
| Goldman Home Improvement Trust Issuer Trust      | Goldman Home Improvement Trust 2021-GRN2 Issuer Trust                     | CUSIP: 38149XAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       12500 | PA      | $486398.38    | 0.07%             | 2051-06-20      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| FIN DEPT GOVT SHARJAH                            | Finance Department Government of Sharjah                                  | CUSIP: 38381CAB8<br>LEI: 254900ZNL8O3F1CLJO24 | Long             | DBT              | NUSS              | AE        |     3500000 | PA      | $2172660.00   | 0.30%             | 2050-07-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association         | Government National Mortgage Association                                  | CUSIP: 38381ND39<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     1809363 | PA      | $1857149.79   | 0.26%             | 2055-07-20      | Floating      | 7.98%                 | No            |                  2 | On Loan: No      |
| Generali                                         | Generali                                                                  | CUSIP: 000000000<br>LEI: 549300X5UKJVE386ZB61 | Long             | EC               | CORP              | IT        |       46287 | NS      | $1862195.95   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Harvest SBA Loan Trust                           | Harvest SBA Loan Trust 2024-1                                             | CUSIP: 41756NAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1665249 | PA      | $1681164.97   | 0.23%             | 2051-12-25      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| INDUSTRIALIZADORA INTEGRAL DEL                   | INDUSTRIALIZADORA INTEGRAL DEL                                            | CUSIP: 45646HAA5<br>LEI: 4469000001CIP2BR3015 | Long             | DBT              | CORP              | MX        |     2000000 | PA      | $2000000.00   | 0.28%             | 2031-11-26      | Fixed         | 9.25%                 | No            |                  3 | On Loan: No      |
| Deutsche Post AG                                 | Deutsche Post AG                                                          | CUSIP: 000000000<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Long             | EC               | CORP              | DE        |      136709 | NS      | $7205508.00   | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INFO MGMT                          | Iron Mountain Information Management Services Inc                         | CUSIP: 46285MAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |     3000000 | PA      | $2829390.00   | 0.39%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | JP Morgan Mortgage Trust 2021-11                                          | CUSIP: 46654KCG0<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      673464 | PA      | $541096.89    | 0.07%             | 2052-01-25      | Variable      | 3.02%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | JP Morgan Mortgage Trust 2021-11                                          | CUSIP: 46654KCH8<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      799042 | PA      | $420841.65    | 0.06%             | 2052-01-25      | Variable      | 2.53%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | J.P. Morgan Mortgage Trust 2023-3                                         | CUSIP: 46656RAN0<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |     1088549 | PA      | $1088432.38   | 0.15%             | 2053-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE                         | KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc     | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2000000 | PA      | $2082820.00   | 0.29%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| E.ON SE                                          | E.ON SE                                                                   | CUSIP: 000000000<br>LEI: Q9MAIUP40P25UFBFG033 | Long             | EC               | CORP              | DE        |      546538 | NS      | $11969982.20  | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| KKR REIGN I LTD                                  | KKR Reign I LLC                                                           | CUSIP: 49836MAA6<br>LEI: N/A                  | Long             | SN               | CORP              | US        |     3500000 | PA      | $1680000.00   | 0.23%             | 2049-05-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LP LMS 2021-2 Asset Securitization Trust         | LP LMS 2021-2 Asset Securitization Trust                                  | CUSIP: 50214JAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1000000 | PA      | $724608.00    | 0.10%             | 2029-01-15      | Fixed         | 6.61%                 | No            |                  2 | On Loan: No      |
| Orange SA                                        | Orange SA                                                                 | CUSIP: 000000000<br>LEI: 969500MCOONR8990S771 | Long             | EC               | CORP              | FR        |     1986323 | NS      | $40725691.83  | 5.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Endesa SA                                        | Endesa SA                                                                 | CUSIP: 000000000<br>LEI: 549300LHK07F2CHV4X31 | Long             | EC               | CORP              | ES        |      416035 | NS      | $17349939.20  | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MFRA Trust                                       | MFA 2022-INV1 Trust                                                       | CUSIP: 55284TAC1<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |      750000 | PA      | $690813.83    | 0.10%             | 2066-04-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Group AG                           | Mercedes-Benz Group AG                                                    | CUSIP: 000000000<br>LEI: 529900R27DL06UVNT076 | Long             | EC               | CORP              | DE        |      133563 | NS      | $8209168.48   | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Marlette Funding Trust                           | Marlette Funding Trust 2021-3                                             | CUSIP: 57108Q103<br>LEI: 549300JRCMNFIBT50883 | Long             | ABS-O            | CORP              | US        |       14510 | PA      | $213172.53    | 0.03%             | 2031-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                       | MFA 2024-NPL1 Trust                                                       | CUSIP: 58004YAA7<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |     1241729 | PA      | $1243259.94   | 0.17%             | 2054-09-25      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                              | Deutsche Telekom AG                                                       | CUSIP: 000000000<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |       77000 | NS      | $2873891.47   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust          | Mello Mortgage Capital Acceptance 2021-INV3                               | CUSIP: 585491BQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    22878309 | PA      | $148372.70    | 0.02%             | 2051-10-25      | Variable      | 0.15%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust          | Mello Mortgage Capital Acceptance 2021-INV3                               | CUSIP: 585491BT9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1857006 | PA      | $50964.96     | 0.01%             | 2051-10-25      | Variable      | 0.55%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust          | Mello Mortgage Capital Acceptance 2021-INV3                               | CUSIP: 585491BY8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       89891 | PA      | $70491.12     | 0.01%             | 2051-10-25      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust          | Mello Mortgage Capital Acceptance 2021-INV3                               | CUSIP: 585491BZ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      397029 | PA      | $228036.47    | 0.03%             | 2051-10-25      | Variable      | 3.14%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust          | Mello Mortgage Capital Acceptance 2021-INV2                               | CUSIP: 58549XBQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    86150084 | PA      | $365069.60    | 0.05%             | 2051-08-25      | Variable      | 0.11%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust          | Mello Mortgage Capital Acceptance 2021-INV2                               | CUSIP: 58549XBT9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5902850 | PA      | $247910.24    | 0.03%             | 2051-08-25      | Variable      | 0.70%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust          | Mello Mortgage Capital Acceptance 2021-INV2                               | CUSIP: 58549XBY8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      296863 | PA      | $235092.54    | 0.03%             | 2051-08-25      | Variable      | 3.31%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust          | Mello Mortgage Capital Acceptance 2021-INV2                               | CUSIP: 58549XBZ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1445321 | PA      | $804967.47    | 0.11%             | 2051-08-25      | Variable      | 3.24%                 | No            |                  2 | On Loan: No      |
| MercadoLibre Inc                                 | MercadoLibre Inc                                                          | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |        4300 | NS      | $7434786.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                                   | Merck & Co Inc                                                            | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |       98411 | NS      | $11837859.19  | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                   | Microsoft Corp                                                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |       10700 | NS      | $3960819.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Realtek Semiconductor Corp                       | Realtek Semiconductor Corp                                                | CUSIP: 000000000<br>LEI: 5299002E7F36O00MYY75 | Long             | EC               | CORP              | TW        |      230000 | NS      | $3498038.39   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| BHP Group Ltd                                    | BHP Group Ltd                                                             | CUSIP: 000000000<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |      370500 | NS      | $13405626.77  | 1.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                   | Morgan Stanley Capital I Trust 2024-BPR2                                  | CUSIP: 61776EAA1<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |     1918738 | PA      | $2006633.19   | 0.28%             | 2029-05-05      | Fixed         | 7.29%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loans LLC                           | Mosaic Solar Loan Trust 2018-2-GS                                         | CUSIP: 61946LAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1562284 | PA      | $1377048.04   | 0.19%             | 2044-02-22      | Fixed         | 7.44%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loans LLC                           | Mosaic Solar Loan Trust 2021-3                                            | CUSIP: 61946TAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     8500000 | PA      | $411791.00    | 0.06%             | 2052-06-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                       | NLT 2023-1 Trust                                                          | CUSIP: 62917MAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3000000 | PA      | $1865020.80   | 0.26%             | 2062-10-25      | Variable      | 3.68%                 | No            |                  2 | On Loan: No      |
| National Collegiate Student Loan Trust           | National Collegiate Student Loan Trust 2007-2                             | CUSIP: 63543LAD7<br>LEI: 635400VQIBXGEB9ZUC59 | Long             | ABS-O            | CORP              | US        |     1216438 | PA      | $1184211.36   | 0.16%             | 2033-01-25      | Floating      | 4.08%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust              | New Residential Mortgage Loan Trust 2021-INV1                             | CUSIP: 64829WAL8<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |    27998436 | PA      | $1117425.98   | 0.15%             | 2051-06-25      | Variable      | 0.74%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust              | New Residential Mortgage Loan Trust 2021-INV1                             | CUSIP: 64829WBA1<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |      341326 | PA      | $288519.39    | 0.04%             | 2051-06-25      | Variable      | 3.24%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust              | New Residential Mortgage Loan Trust 2021-INV1                             | CUSIP: 64829WBB9<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |      612436 | PA      | $397465.44    | 0.05%             | 2051-06-25      | Variable      | 3.23%                 | No            |                  2 | On Loan: No      |
| NRZ Excess Spread Collateralized Notes           | NRM FHT1 Excess Owner LLC                                                 | CUSIP: 64832EAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1653063 | PA      | $1658891.88   | 0.23%             | 2032-03-25      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| Keyence Corp                                     | Keyence Corp                                                              | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |       11000 | NS      | $3914978.36   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Continental Credit Card llc                      | Continental Finance Credit Card ABS Master Trust                          | CUSIP: 66981PAT5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2000000 | PA      | $1977242.12   | 0.27%             | 2032-12-15      | Fixed         | 9.42%                 | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                       | Samsung Electronics Co Ltd                                                | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |      174240 | NS      | $20379335.74  | 2.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Open Text Corp                                   | Open Text Corp                                                            | CUSIP: 683715106<br>LEI: 549300HP7ONDQODZJV16 | Long             | EC               | CORP              | CA        |      128100 | NS      | $2854647.40   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                                      | Oracle Corp                                                               | CUSIP: 6840C3K28<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | STIV             | CORP              | US        |     2000000 | PA      | $1954219.40   | 0.27%             | 2026-10-02      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA                         | Blue Owl Technology Finance Corp                                          | CUSIP: 691205AE8<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |     3000000 | PA      | $2984070.00   | 0.41%             | 2026-06-17      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust            | PRPM 2025-1 LLC                                                           | CUSIP: 69382GAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1545051 | PA      | $1539691.56   | 0.21%             | 2030-04-25      | Variable      | 5.99%                 | No            |                  2 | On Loan: No      |
| AXA SA                                           | AXA SA                                                                    | CUSIP: 000000000<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |      119288 | NS      | $5481466.59   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Novartis AG                                      | Novartis AG                                                               | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |       42500 | NS      | $6523508.43   | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Enel SpA                                         | Enel SpA                                                                  | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |     1897635 | NS      | $20746518.81  | 2.86%             |  |  |  | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                              | Petroleos Mexicanos                                                       | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     3000000 | PA      | $2389440.00   | 0.33%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Petroleo Brasileiro SA - Petrobras               | Petroleo Brasileiro SA - Petrobras                                        | CUSIP: 71654V408<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |      302585 | NS      | $6278638.75   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                                       | Pfizer Inc                                                                | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |      433052 | NS      | $12160100.16  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Snam SpA                                         | Snam SpA                                                                  | CUSIP: 000000000<br>LEI: 8156002278562044AF79 | Long             | EC               | CORP              | IT        |     2051611 | NS      | $15541844.24  | 2.14%             |  |  |  | No            |                  2 | On Loan: No      |
| PROSUS NV                                        | Prosus NV                                                                 | CUSIP: 74365PAD0<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |     3000000 | PA      | $2000640.00   | 0.28%             | 2050-08-03      | Fixed         | 4.03%                 | No            |                  2 | On Loan: No      |
| REMIC FUNDING TRUST 98-1                         | RFT 2025-RR1 Trust                                                        | CUSIP: 749433AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1843685 | PA      | $1847702.92   | 0.25%             | 2028-06-27      | Variable      | 6.77%                 | No            |                  2 | On Loan: No      |
| Regions Financial Corp                           | Regions Financial Corp                                                    | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |      302308 | NS      | $7896284.96   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SFO Commerical Mortgage Trust                    | SFO Commercial Mortgage Trust 2021-555                                    | CUSIP: 78432WAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1043000 | PA      | $1038567.69   | 0.14%             | 2038-05-15      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| SALESFORCE INC                                   | Salesforce Inc                                                            | CUSIP: 79466LAQ7<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |     2000000 | PA      | $2000580.00   | 0.28%             | 2028-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SALESFORCE INC                                   | Salesforce Inc                                                            | CUSIP: 79466LAS3<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |      500000 | PA      | $499320.00    | 0.07%             | 2031-09-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| SAP SE                                           | SAP SE                                                                    | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |       13700 | NS      | $2345577.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| SCIENCE APPLICATIONS INT                         | Science Applications International Corp                                   | CUSIP: 808625AA5<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |     3000000 | PA      | $2951370.00   | 0.41%             | 2028-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Sea Ltd                                          | Sea Ltd                                                                   | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |        8695 | NS      | $720032.95    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Sequoia Mortgage Trust                           | Sequoia Mortgage Trust 2023-3                                             | CUSIP: 816943BF0<br>LEI: 549300671OK77JNRLK28 | Long             | ABS-MBS          | CORP              | US        |      908895 | PA      | $916562.58    | 0.13%             | 2053-09-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                          | Sensata Technologies BV                                                   | CUSIP: 81725WAL7<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |     2000000 | PA      | $2001720.00   | 0.28%             | 2030-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                           | Sequoia Mortgage Trust 2021-9                                             | CUSIP: 81748CAA8<br>LEI: 549300671OK77JNRLK28 | Long             | ABS-MBS          | CORP              | US        |     1957602 | PA      | $1623036.92   | 0.22%             | 2052-01-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| ServiceNow Inc                                   | ServiceNow Inc                                                            | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |       25000 | NS      | $2613750.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                                      | Shopify Inc                                                               | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |       17500 | NS      | $2075850.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| SIRIUS XM RADIO LLC                              | Sirius XM Radio LLC                                                       | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     2500000 | PA      | $2488550.00   | 0.34%             | 2029-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SKY1 Trust                                       | SKY Trust 2025-LINE                                                       | CUSIP: 830941AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      800812 | PA      | $806265.08    | 0.11%             | 2042-04-15      | Floating      | 6.26%                 | No            |                  2 | On Loan: No      |
| SLR Investment Corp                              | SLR Investment Corp                                                       | CUSIP: 83413U100<br>LEI: BJOT6DX9ML6BR3Z0O636 | Long             | EC               | CORP              | US        |      125067 | NS      | $1789708.77   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp                                  | Sony Group Corp                                                           | CUSIP: 835699307<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |      133125 | NS      | $2755687.50   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| South Bow Corp                                   | South Bow Corp                                                            | CUSIP: 83671M105<br>LEI: 2549000XS5TAFA3YF943 | Long             | EC               | CORP              | CA        |      125957 | NS      | $4190417.63   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| LIFESTORAGE LP                                   | LifeStorage LP/CA                                                         | CUSIP: 84610WAB1<br>LEI: N/A                  | Long             | DBT              |  | US        |     2750000 | PA      | $2741227.50   | 0.38%             | 2026-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust              | Starwood Mortgage Residential Trust 2021-6                                | CUSIP: 85573RAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1500000 | PA      | $1113993.44   | 0.15%             | 2066-11-25      | Variable      | 3.39%                 | No            |                  2 | On Loan: No      |
| STILLWATER MINING CO                             | Stillwater Mining Co                                                      | CUSIP: 86074QAQ5<br>LEI: 6354007DPCY4ZN2MRR73 | Long             | DBT              | CORP              | US        |     1500000 | PA      | $1412775.00   | 0.19%             | 2029-11-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                        | Sunoco LP                                                                 | CUSIP: 86765KAE9<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |      500000 | PA      | $509535.00    | 0.07%             | 2030-09-18      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                           | Sunoco LP / Sunoco Finance Corp                                           | CUSIP: 86765LAN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2000000 | PA      | $1997420.00   | 0.27%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd        | Taiwan Semiconductor Manufacturing Co Ltd                                 | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |       66082 | NS      | $22332411.90  | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp                                   | TC Energy Corp                                                            | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |      132373 | NS      | $8289132.36   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| TENET HEALTHCARE CORP                            | Tenet Healthcare Corp                                                     | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     3000000 | PA      | $3070530.00   | 0.42%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Thornburg Capital Management Fund                | Thornburg Capital Management Fund                                         | CUSIP: 885216739<br>LEI: 549300GLR0WG6ALV5277 | Long             | EC               | RF                | US        |     4227414 | NS      | $42274140.05  | 5.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2025-R1                                         | CUSIP: 89183DAA1<br>LEI: 25490010CSYSAQU59J50 | Long             | ABS-MBS          | CORP              | US        |     1862279 | PA      | $1666031.64   | 0.23%             | 2057-11-27      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| TransDigm Group Inc                              | TransDigm Group Inc                                                       | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2425 | NS      | $2810478.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| United Auto Credit Securitization Trust          | United Auto Credit Securitization Trust 2022-1                            | CUSIP: 90944DAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        6000 | PA      | $285834.55    | 0.04%             | 2028-11-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                           | U.S. Treasury Bonds                                                       | CUSIP: 912810QY7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     2500000 | PA      | $1900781.25   | 0.26%             | 2042-11-15      | Fixed         | 2.75%                 | No            |                  1 | On Loan: No      |
| United States Treasury                           | U.S. Treasury Inflation-Indexed Bonds                                     | CUSIP: 912810UH9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     3091890 | PA      | $2870143.51   | 0.40%             | 2055-02-15      | Fixed         | 2.38%                 | No            |                  1 | On Loan: No      |
| United States Treasury                           | U.S. Treasury STRIPS Coupon                                               | CUSIP: 912834DV7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     2500000 | PA      | $1340269.35   | 0.18%             | 2039-05-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury                           | U.S. Treasury STRIPS Coupon                                               | CUSIP: 912834KP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     8000000 | PA      | $3734857.20   | 0.51%             | 2041-08-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury                           | U.S. Treasury STRIPS Coupon                                               | CUSIP: 912834MT2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     5000000 | PA      | $2068726.85   | 0.28%             | 2043-08-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury                           | U.S. Treasury STRIPS Coupon                                               | CUSIP: 912834VV7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     5000000 | PA      | $1450076.90   | 0.20%             | 2050-05-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| Upstart Securitization Trust                     | Upstart Securitization Trust 2023-1                                       | CUSIP: 91679AAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      828828 | PA      | $840777.93    | 0.12%             | 2033-02-20      | Fixed         | 11.10%                | No            |                  2 | On Loan: No      |
| Upstart Pass Through Trust                       | Upstart Pass-Through Trust Series 2021-ST7                                | CUSIP: 91683KAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     3000000 | PA      | $151491.00    | 0.02%             | 2029-09-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Upstart Pass Through Trust                       | Upstart Pass-Through Trust Series 2021-ST8                                | CUSIP: 91683LAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     3000000 | PA      | $189645.00    | 0.03%             | 2029-10-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                             | Republic of Uzbekistan International Bond                                 | CUSIP: 91824PAD9<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        | 13000000000 | PA      | $1138056.66   | 0.16%             | 2028-02-25      | Fixed         | 15.50%                | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Securities Trust     | Wells Fargo Mortgage Backed Securities 2021-INV1 Trust                    | CUSIP: 95003KAX0<br>LEI: 549300EZH20KSD9JD814 | Long             | ABS-MBS          | CORP              | US        |    23462441 | PA      | $693934.55    | 0.10%             | 2051-08-25      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Securities Trust     | Wells Fargo Mortgage Backed Securities 2021-INV1 Trust                    | CUSIP: 95003KBL5<br>LEI: 549300EZH20KSD9JD814 | Long             | ABS-MBS          | CORP              | US        |      475580 | PA      | $405656.15    | 0.06%             | 2051-08-25      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Securities Trust     | Wells Fargo Mortgage Backed Securities 2021-INV1 Trust                    | CUSIP: 95003KBM3<br>LEI: 549300EZH20KSD9JD814 | Long             | ABS-MBS          | CORP              | US        |      375934 | PA      | $312506.36    | 0.04%             | 2051-08-25      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Securities Trust     | Wells Fargo Mortgage Backed Securities 2021-INV1 Trust                    | CUSIP: 95003KBN1<br>LEI: 549300EZH20KSD9JD814 | Long             | ABS-MBS          | CORP              | US        |      291189 | PA      | $146398.52    | 0.02%             | 2051-08-25      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| CALAMOS STRATEGIC TOTAL RETURN                   | CALAMOS STRATEGIC TOTAL RETURN                                            | CUSIP: 000000000<br>LEI: 54930048NQ2YBS3TXW78 | Long             | EP               | CORP              | US        |      106000 | NS      | $2606540.00   | 0.36%             |  |  |  | No            |                  3 | On Loan: No      |
| TRISTATE INSURED CASH SWEEP                      | TRISTATE INSURED CASH SWEEP                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |         907 | PA      | $907.00       | 0.00%             | 2050-10-01      | Variable      | 3.84%                 | No            |                  2 | On Loan: No      |
| Vodafone Group PLC                               | Vodafone Group PLC                                                        | CUSIP: 000000000<br>LEI: 213800TB53ELEUKM7Q61 | Long             | EC               | CORP              | GB        |     3450000 | NS      | $5203811.84   | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Vend Marketplaces ASA                            | Vend Marketplaces ASA                                                     | CUSIP: 000000000<br>LEI: 5967007LIEEXZXHT0O36 | Long             | EC               | CORP              | NO        |       78389 | NS      | $1940573.71   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                         | Comision Federal de Electricidad                                          | CUSIP: 000000000<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |     1866000 | PA      | $1731181.50   | 0.24%             | 2036-09-29      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Roche Holding AG                                 | Roche Holding AG                                                          | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |       49031 | NS      | $19567823.12  | 2.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                          | ES12855725 THORNBURG                                                      | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               |  | DE        |     -228800 | NC      | $-15512.08    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                          | ES12855722 THORNBURG                                                      | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               |  | DE        |      -38500 | NC      | $-671311.66   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                           | ES12928642 THORNBURG                                                      | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DE               |  | DE        |      -80500 | NC      | $-50826.63    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE                                 | TotalEnergies SE                                                          | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |      183632 | NS      | $16852662.71  | 2.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Severstal PAO                                    | Severstal PAO                                                             | CUSIP: 818150302<br>LEI: 213800OKDPTV6K4ONO53 | Long             | EC               | CORP              | RU        |      236300 | NS      | $0.24         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Glencore PLC                                     | Glencore PLC                                                              | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |      475000 | NS      | $3597589.90   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| GMK Norilskiy Nickel PAO                         | GMK Norilskiy Nickel PAO                                                  | CUSIP: 000000000<br>LEI: 253400JPTEEW143W3E47 | Long             | EC               | CORP              | RU        |     3070000 | NS      | $0.04         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Telkom Indonesia Persero Tbk PT                  | Telkom Indonesia Persero Tbk PT                                           | CUSIP: 000000000<br>LEI: 529900M5SQZAOKV1PC81 | Long             | EC               | CORP              | ID        |    20618500 | NS      | $3727867.58   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| OCI NV                                           | OCI NV                                                                    | CUSIP: 000000000<br>LEI: 549300NCMRGIBJYUOE57 | Long             | EC               | CORP              | NL        |      279469 | NS      | $1113281.62   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd                        | Alibaba Group Holding Ltd                                                 | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |      202000 | NS      | $3166245.92   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd                             | Tencent Holdings Ltd                                                      | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |       59500 | NS      | $3752804.11   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Mondi PLC                                        | Mondi PLC                                                                 | CUSIP: 000000000<br>LEI: 213800LOZA69QFDC9N34 | Long             | EC               | CORP              | GB        |      290908 | NS      | $3288896.26   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Fertiglobe plc                                   | Fertiglobe plc                                                            | CUSIP: 000000000<br>LEI: 984500A99D1B4CPBF744 | Long             | EC               | CORP              | AE        |     2137000 | NS      | $1820926.69   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NN Group NV                                      | NN Group NV                                                               | CUSIP: 000000000<br>LEI: 724500OHYNDT9OY6Q215 | Long             | EC               | CORP              | NL        |      219661 | NS      | $17154624.71  | 2.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell PLC                                        | Shell PLC                                                                 | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |      173200 | NS      | $8099019.85   | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Reckitt Benckiser Group PLC                      | Reckitt Benckiser Group PLC                                               | CUSIP: 000000000<br>LEI: 5493003JFSMOJG48V108 | Long             | EC               | CORP              | GB        |       40417 | NS      | $2717652.79   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| B&M European Value Retail plc                    | B&M European Value Retail plc                                             | CUSIP: 000000000<br>LEI: 213800UK7ZRLY2K1X530 | Long             | EC               | CORP              | JE        |      767245 | NS      | $1722885.28   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Adyen NV                                         | Adyen NV                                                                  | CUSIP: 000000000<br>LEI: 724500973ODKK3IFQ447 | Long             | EC               | CORP              | NL        |        1025 | NS      | $1025871.67   | 0.14%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Medtronic PLC                                    | Medtronic PLC                                                             | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |       55600 | NS      | $4817740.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV                     | LyondellBasell Industries NV                                              | CUSIP: 000000000<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | NL        |       82904 | NS      | $6678746.24   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Stellantis NV                                    | Stellantis NV                                                             | CUSIP: 000000000<br>LEI: 549300LKT9PW7ZIBDF31 | Long             | EC               | CORP              | NL        |      278210 | NS      | $1972508.90   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-15

**Name of Applicant:** Thornburg Income Builder Opportunities Trust

**Signature:** Christopher Luckham

**Name of Signer:** Christopher Luckham

**Title:** Manager - Fund Admin