# EDGAR Filing Document

**Accession Number:** 0001048702
**File Stem:** 0002071691-25-010013
**Filing Date:** 2025-12
**Character Count:** 280291
**Document Hash:** 16a8f3fd5d7d7094f5b0f2920f507657
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-010013.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0002071691-25-010013

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NATIONWIDE MUTUAL FUNDS
- **CENTRAL INDEX KEY:** 0001048702

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08495
- **FILM NUMBER:** 251599456

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NATIONWIDE PLAZA
- **STREET 2:** MAIL CODE 05-02-210
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215
- **BUSINESS PHONE:** 614-435-5749

**MAIL ADDRESS:**
- **STREET 1:** ONE NATIONWIDE PLAZA
- **STREET 2:** MAIL CODE 05-02-210
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GARTMORE MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 20020125

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONWIDE MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 19991015

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONWIDE INVESTING FOUNDATION III
- **DATE OF NAME CHANGE:** 19971029

## Series and Classes Contracts Data

### Nationwide Bond Portfolio (Series ID: S000071835)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000227359 | Class R6     |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Nationwide Mutual Funds

- **b. Investment Company Act file number:** 811-08495

- **c. CIK number of Registrant:** 0001048702

- **d. LEI of Registrant:** 549300NXDT8MH8Z3PQ44

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

  - **Street Address 1:** One Nationwide Plaza

  - **City:** Columbus

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 43215

  - **Telephone number:** 614-435-3820

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

- **a. Name of Series:** Nationwide Bond Portfolio

- **b. EDGAR series identifier (if any):** S000071835

- **c. LEI of Series:** 549300UDNENJLHLCX577

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $1074651684.73

**Total Liabilities:** $139934352.49

**Net Assets:** $934717332.24

**Cash Not Reported:** $18634835.08

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 669.87472100 | **1-Year:** 19455.20629200 | **5-Year:** 130034.55079200 | **10-Year:** 141347.88648600 | **30-Year:** 11933.46953900

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

- **3-Month:** 5.15903800 | **1-Year:** 38.51732400 | **5-Year:** 57.05858700 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000227359 | 1.29%                | 1.04%                | 0.80%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $712791.35               | $6800926.97                                |
| Month 2  | $1730195.80              | $4885993.45                                |
| Month 3  | $180239.60               | $2166463.00                                |

**Designated Index Information**

- **Index Name:** Bloomberg US Aggregate Bond Total Return

- **Index Identifier:** LEHM.MC.LEHMRT00001UUSD

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810TJ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    4521400 | PA      | $3341773.79   | 0.36%             | 2052-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179WR26<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    3124854 | PA      | $2706882.75   | 0.29%             | 2051-11-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| New Mexican Pesos                                       | New Mexican Pesos                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | MX        |          1 | OU      | $0.03         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA, Inc.                                               | HCA, Inc.                                                                           | CUSIP: 404119BT5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     500000 | PA      | $500493.79    | 0.05%             | 2026-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3132DWA60<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    3071633 | PA      | $2623576.88   | 0.28%             | 2051-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140XK6T2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2485472 | PA      | $2153637.49   | 0.23%             | 2050-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                           | UMBS, 15 Year, Single Family                                                        | CUSIP: 01F0204B2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1000000 | PA      | $920217.12    | 0.10%             | 2040-11-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Intel Corp.                                             | Intel Corp.                                                                         | CUSIP: 458140CL2<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |     426000 | PA      | $432370.45    | 0.05%             | 2034-02-21      | Fixed         | 5.15%                 | No            |                  2 | On Loan: —       |
| U.S. Treasury Bills                                     | U.S. Treasury Bills                                                                 | CUSIP: 912797RQ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   27800000 | PA      | $27734100.10  | 2.97%             | 2025-11-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | SOP                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |   15370000 | PA      | $33527.97     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 21H0326B1<br>LEI: 549300M8ZYFG0OCMTT87 | Short            | ABS-MBS          | USGA              | US        |   -6000000 | PA      | $-5491321.32  | -0.59%            | 2055-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140QFGN3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3074658 | PA      | $2943307.48   | 0.31%             | 2050-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLP Commercial Mortgage Trust                           | BLP Commercial Mortgage Trust, Series 2024-IND2, Class A                            | CUSIP: 05625AAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1589286 | PA      | $1589782.51   | 0.17%             | 2041-03-15      | Floating      | 5.37%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   58640000 | PA      | $207883.54    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Xilinx, Inc.                                            | Xilinx, Inc.                                                                        | CUSIP: 983919AK7<br>LEI: 6EY4K7ZMF9UX1CU6KC79 | Long             | DBT              | CORP              | US        |     250000 | PA      | $231817.76    | 0.02%             | 2030-06-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 3622ABJ86<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     750621 | PA      | $646078.54    | 0.07%             | 2051-12-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    4260000 | PA      | $16248.68     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Comcast Corp.                                           | Comcast Corp.                                                                       | CUSIP: 20030NEJ6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     531000 | PA      | $544983.72    | 0.06%             | 2034-06-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: —       |
| AerCap Ireland Capital DAC                              | AerCap Ireland Capital DAC                                                          | CUSIP: 00774MAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |     825000 | PA      | $744339.48    | 0.08%             | 2033-10-29      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Xcel Energy, Inc.                                       | Xcel Energy, Inc.                                                                   | CUSIP: 98388MAB3<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |     850000 | PA      | $822680.73    | 0.09%             | 2027-03-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: —       |
| EQT Corp.                                               | EQT Corp.                                                                           | CUSIP: 26884LAG4<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     100000 | PA      | $108530.48    | 0.01%             | 2030-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810TL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   22602800 | PA      | $20200369.63  | 2.16%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| International Business Machines Corp.                   | International Business Machines Corp.                                               | CUSIP: 459200KT7<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |     160000 | PA      | $160758.47    | 0.02%             | 2027-07-27      | Fixed         | 4.15%                 | No            |                  2 | On Loan: —       |
| Ford Credit Auto Owner Trust                            | Ford Credit Auto Owner Trust, Series 2024-1, Class A                                | CUSIP: 34533BAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    2225000 | PA      | $2274602.15   | 0.24%             | 2036-08-15      | Variable      | 4.87%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                     | Citigroup Commercial Mortgage Trust, Series 2019-GC41, Class A4                     | CUSIP: 17328FAV7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     500000 | PA      | $472290.45    | 0.05%             | 2056-08-10      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| VMware LLC                                              | VMware LLC                                                                          | CUSIP: 928563AF2<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |      35000 | PA      | $35513.49     | 0.00%             | 2030-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                   | FHLMC, Series 5502, Class FG                                                        | CUSIP: 3137HJSY4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1524952 | PA      | $1523622.96   | 0.16%             | 2055-02-25      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                | Celanese US Holdings LLC                                                            | CUSIP: 15089QAN4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     250000 | PA      | $255335.00    | 0.03%             | 2029-07-15      | Fixed         | 6.83%                 | No            |                  2 | On Loan: —       |
| Deutsche Bank AG                                        | Deutsche Bank AG                                                                    | CUSIP: 251526CP2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |     150000 | PA      | $146985.70    | 0.02%             | 2027-11-16      | Variable      | 2.31%                 | No            |                  2 | On Loan: —       |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140QNDP4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2601277 | PA      | $2218137.69   | 0.24%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140QPFK8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1075053 | PA      | $996808.49    | 0.11%             | 2052-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DP World Crescent Ltd.                                  | DP World Crescent Ltd.                                                              | CUSIP: 260979AA7<br>LEI: 21380096JRTWB8TL9236 | Long             | DBT              | CORP              | KY        |    1600000 | PA      | $1668800.00   | 0.18%             | 2035-05-08      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Mexico City Airport Trust                               | Mexico City Airport Trust                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | MX        |    2510000 | PA      | $2461120.01   | 0.26%             | 2028-04-30      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Penta CLO DAC                                           | Penta CLO DAC, Series 2021-2A, Class BR                                             | CUSIP: N/A<br>LEI: 635400GBGDCFEEAL3O62       | Long             | ABS-CBDO         | CORP              | IE        |    1740000 | PA      | $1995972.03   | 0.21%             | 2038-04-15      | Floating      | 3.68%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |  126493298 | PA      | $2968.85      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 21H0526B9<br>LEI: 549300M8ZYFG0OCMTT87 | Short            | ABS-MBS          | USGA              | US        |   -1000000 | PA      | $-1008246.66  | -0.11%            | 2055-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Storage Operating Co.                            | Public Storage Operating Co.                                                        | CUSIP: 74460WAE7<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              | CORP              | US        |     950000 | PA      | $856177.27    | 0.09%             | 2031-05-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Notes                                                                 | CUSIP: 91282CPF2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    9820000 | PA      | $9737143.75   | 1.04%             | 2032-10-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ROCK Trust                                              | ROCK Trust, Series 2024-CNTR, Class B                                               | CUSIP: 74970WAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     850000 | PA      | $879452.08    | 0.09%             | 2041-11-13      | Fixed         | 5.93%                 | Yes           |                  2 | On Loan: No      |
| HP, Inc.                                                | HP, Inc.                                                                            | CUSIP: 40434LAK1<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |     979000 | PA      | $967990.85    | 0.10%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179VDN7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     137369 | PA      | $123969.89    | 0.01%             | 2050-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Ingersoll Rand, Inc.                                    | Ingersoll Rand, Inc.                                                                | CUSIP: 45687VAB2<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |     710000 | PA      | $755363.94    | 0.08%             | 2033-08-14      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| EIDP, Inc.                                              | EIDP, Inc.                                                                          | CUSIP: 263534CP2<br>LEI: GLU7INWNWH88J9XBXD45 | Long             | DBT              | CORP              | US        |     395000 | PA      | $364486.89    | 0.04%             | 2030-07-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3132DVLR4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1231201 | PA      | $1068584.14   | 0.11%             | 2051-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Blackstone Private Credit Fund                          | Blackstone Private Credit Fund                                                      | CUSIP: 09261HBX4<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |     400000 | PA      | $409423.69    | 0.04%             | 2032-01-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| Kinder Morgan, Inc.                                     | Kinder Morgan, Inc.                                                                 | CUSIP: 49456BAU5<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    1400000 | PA      | $1367798.74   | 0.15%             | 2026-11-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: —       |
| ServiceNow, Inc.                                        | ServiceNow, Inc.                                                                    | CUSIP: 81762PAE2<br>LEI: 549300HJTQM36M0E1G39 | Long             | DBT              | CORP              | US        |     422000 | PA      | $369959.71    | 0.04%             | 2030-09-01      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 21H0226B2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1000000 | PA      | $865428.96    | 0.09%             | 2055-11-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                            | Oracle Corp.                                                                        | CUSIP: 68389XDM4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    1735000 | PA      | $1708635.74   | 0.18%             | 2035-09-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                              | J.P. Morgan Mortgage Trust, Series 2025-2, Class A4A                                | CUSIP: 46593NAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1150685 | PA      | $1157184.95   | 0.12%             | 2055-07-25      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 21H0706B1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1000000 | PA      | $1028593.75   | 0.11%             | 2055-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Piedmont Natural Gas Co., Inc.                          | Piedmont Natural Gas Co., Inc.                                                      | CUSIP: 720186AL9<br>LEI: VXB4M3BDPKF3I2AZ3G89 | Long             | DBT              | CORP              | US        |     100000 | PA      | $97766.89     | 0.01%             | 2029-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ROCK Trust                                              | ROCK Trust, Series 2024-CNTR, Class A                                               | CUSIP: 74970WAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2700000 | PA      | $2771054.55   | 0.30%             | 2041-11-13      | Fixed         | 5.39%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    8740000 | PA      | $166227.56    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   19370000 | PA      | $85531.70     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                              | Occidental Petroleum Corp.                                                          | CUSIP: 674599DE2<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     502000 | PA      | $574264.85    | 0.06%             | 2031-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Telefonica Emisiones SA                                 | Telefonica Emisiones SA                                                             | CUSIP: 87938WAV5<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |     825000 | PA      | $753940.49    | 0.08%             | 2038-03-06      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                | BX Trust, Series 2024-PAT, Class A                                                  | CUSIP: 05612FAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     650000 | PA      | $650203.13    | 0.07%             | 2041-03-15      | Floating      | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Maryland Economic Development Corp.                     | Maryland Economic Development Corp., Series 2024                                    | CUSIP: 574205JB7<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |     825000 | PA      | $849005.44    | 0.09%             | 2033-11-30      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                                      | BMO Mortgage Trust, Series 2024-C9, Class A5                                        | CUSIP: 05593MAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1300000 | PA      | $1385605.65   | 0.15%             | 2057-07-15      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| Blackstone Secured Lending Fund                         | Blackstone Secured Lending Fund                                                     | CUSIP: 09261XAH5<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |     700000 | PA      | $714277.13    | 0.08%             | 2027-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| Province of Ontario Canada                              | Province of Ontario                                                                 | CUSIP: 683234AR9<br>LEI: C7PVKCRGLG18EBQGZV36 | Long             | DBT              | NUSS              | CA        |      40000 | PA      | $35105.20     | 0.00%             | 2030-10-07      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   11390000 | PA      | $61490.82     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| South African Rand                                      | South African Rand                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | ZA        |        379 | OU      | $21.89        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC                                                   | FHLMC STACR REMIC Trust, Series 2024-HQA2, Class A1                                 | CUSIP: 35564NDY6<br>LEI: 5299002OYNAPMJKK2A73 | Long             | ABS-MBS          | CORP              | US        |          0 | PA      | $0.03         | 0.00%             | 2044-08-25      | Floating      | 5.43%                 | Yes           |                  2 | On Loan: No      |
| McCormick & Co., Inc.                                   | McCormick & Co., Inc.                                                               | CUSIP: 579780AR8<br>LEI: 549300JQQA6MQ4OJP259 | Long             | DBT              | CORP              | US        |     250000 | PA      | $247464.23    | 0.03%             | 2026-02-15      | Fixed         | 0.90%                 | No            |                  2 | On Loan: —       |
| FNMA or FHLMC                                           | UMBS, 30 Year, Single Family                                                        | CUSIP: 01F0206B0<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |   -6000000 | PA      | $-4864484.82  | -0.52%            | 2055-11-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Cheniere Corpus Christi Holdings LLC                    | Cheniere Corpus Christi Holdings LLC                                                | CUSIP: 16412XAG0<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |     945000 | PA      | $954672.95    | 0.10%             | 2027-06-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | 3 Month SONIA                                                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |         93 | NC      | $21631.34     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                                            | Oracle Corp.                                                                        | CUSIP: 68389XCP8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    1244000 | PA      | $1235707.41   | 0.13%             | 2033-02-06      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140XASY9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     473968 | PA      | $390092.54    | 0.04%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                            | BX Commercial Mortgage Trust, Series 2024-AIRC, Class A                             | CUSIP: 12433CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     983005 | PA      | $984233.74    | 0.11%             | 2039-08-15      | Floating      | 5.72%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Inflation Linked Bonds                                                | CUSIP: 912810TP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    5422252 | PA      | $4394983.29   | 0.47%             | 2053-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                   | Wells Fargo Commercial Mortgage Trust, Series 2016-C33, Class A4                    | CUSIP: 95000LAZ6<br>LEI: 549300JPCJUA5JJLRW54 | Long             | ABS-MBS          | CORP              | US        |    1225000 | PA      | $1219823.64   | 0.13%             | 2059-03-15      | Fixed         | 3.43%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | CDI                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        |   40302867 | PA      | $317098.21    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| First Horizon Corp.                                     | First Horizon Corp.                                                                 | CUSIP: 320517AE5<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | DBT              | CORP              | US        |     230000 | PA      | $237188.51    | 0.03%             | 2031-03-07      | Variable      | 5.51%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140XJCJ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     121853 | PA      | $105632.27    | 0.01%             | 2051-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Huntsman International LLC                              | Huntsman International LLC                                                          | CUSIP: 44701QBE1<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |    1020000 | PA      | $942979.11    | 0.10%             | 2029-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| T-Mobile USA, Inc.                                      | T-Mobile USA, Inc.                                                                  | CUSIP: 87264ABW4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    4271000 | PA      | $4061143.22   | 0.43%             | 2031-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: —       |
| GNMA                                                    | GNMA                                                                                | CUSIP: 21H0306B5<br>LEI: 549300M8ZYFG0OCMTT87 | Short            | ABS-MBS          | USGA              | US        |   -2000000 | PA      | $-1796875.00  | -0.19%            | 2055-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Zoetis, Inc.                                            | Zoetis, Inc.                                                                        | CUSIP: 98978VAN3<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |     465000 | PA      | $464546.06    | 0.05%             | 2028-08-20      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Mountain View CLO XV Ltd.                               | Mountain View CLO XV Ltd., Series 2019-2A, Class A1R                                | CUSIP: 62432PAS1<br>LEI: 254900VKL64PZVEG4F33 | Long             | ABS-CBDO         | CORP              | KY        |    1725000 | PA      | $1730202.60   | 0.19%             | 2037-07-15      | Floating      | 5.57%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Notes                                                                 | CUSIP: 91282CPD7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    9700000 | PA      | $9664382.76   | 1.03%             | 2030-10-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Mars, Inc.                                              | Mars, Inc.                                                                          | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    3475000 | PA      | $3566713.42   | 0.38%             | 2035-03-01      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| AT&T, Inc.                                              | AT&T, Inc.                                                                          | CUSIP: 00206RJY9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     575000 | PA      | $526748.28    | 0.06%             | 2031-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140XDUC8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      25961 | PA      | $21366.37     | 0.00%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179WTX6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   12565196 | PA      | $10454948.97  | 1.12%             | 2051-12-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co. LP                             | Penske Truck Leasing Co. LP                                                         | CUSIP: 709599CA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     758000 | PA      | $780372.90    | 0.08%             | 2029-07-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: —       |
| NatWest Group plc                                       | NatWest Group plc                                                                   | CUSIP: 639057AF5<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |     275000 | PA      | $281570.65    | 0.03%             | 2028-09-30      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp.                                   | Las Vegas Sands Corp.                                                               | CUSIP: 517834AN7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |     250000 | PA      | $261363.69    | 0.03%             | 2030-06-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| CBAMR Ltd.                                              | CBAMR Ltd., Series 2017-4A, Class A1R                                               | CUSIP: 12516EAC5<br>LEI: 635400U9D8ZDLM1G7T76 | Long             | ABS-CBDO         | CORP              | KY        |    4500000 | PA      | $4515781.50   | 0.48%             | 2038-03-31      | Floating      | 5.70%                 | Yes           |                  2 | On Loan: No      |
| Palmer Square CLO Ltd.                                  | Palmer Square CLO Ltd., Series 2019-1A, Class A1R2                                  | CUSIP: 69700GAU6<br>LEI: 549300Y43K78UTRMTN21 | Long             | ABS-CBDO         | CORP              | KY        |    4000000 | PA      | $3997788.00   | 0.43%             | 2038-08-14      | Floating      | 5.36%                 | Yes           |                  2 | On Loan: No      |
| J.P. Morgan Chase Commercial Mortgage Securities Trust  | J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2022-NLP, Class B    | CUSIP: 466317AG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1435616 | PA      | $1406903.70   | 0.15%             | 2037-04-15      | Floating      | 5.39%                 | Yes           |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                            | Pacific Gas and Electric Co.                                                        | CUSIP: 694308JH1<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     550000 | PA      | $417669.58    | 0.04%             | 2040-08-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                   | Wells Fargo Commercial Mortgage Trust, Series 2019-C52, Class A5                    | CUSIP: 95002MAX7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     530000 | PA      | $499649.92    | 0.05%             | 2052-08-15      | Fixed         | 2.89%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810UB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   14370000 | PA      | $14379542.54  | 1.54%             | 2044-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Bacardi-Martini BV                                      | Bacardi-Martini BV                                                                  | CUSIP: 05634WAA0<br>LEI: 5493002XXBV8B88K2408 | Long             | DBT              | CORP              | NL        |     425000 | PA      | $439130.29    | 0.05%             | 2030-02-01      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| Willis North America, Inc.                              | Willis North America, Inc.                                                          | CUSIP: 970648AJ0<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |     200000 | PA      | $189897.68    | 0.02%             | 2029-09-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: —       |
| Morgan Stanley                                          | Morgan Stanley                                                                      | CUSIP: 61747YFD2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    1205000 | PA      | $1231936.05   | 0.13%             | 2029-04-20      | Variable      | 5.16%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   20160000 | PA      | $38079.76     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Wisconsin Power and Light Co.                           | Wisconsin Power and Light Co.                                                       | CUSIP: 976826BQ9<br>LEI: JWBYHVQVMY66CVCOSO49 | Long             | DBT              | CORP              | US        |     155000 | PA      | $149167.79    | 0.02%             | 2032-09-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: —       |
| N/A                                                     | SOP                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |    5500000 | PA      | $1952.01      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                    | FNMA, Series 2025-11, Class FB                                                      | CUSIP: 3136BUZ45<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2375399 | PA      | $2376605.48   | 0.25%             | 2055-03-25      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| Quanta Services, Inc.                                   | Quanta Services, Inc.                                                               | CUSIP: 74762EAH5<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |     505000 | PA      | $446021.20    | 0.05%             | 2032-01-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | U.S. Treasury Ultra Bond                                                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         96 | NC      | $241712.98    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| One New York Plaza Trust                                | One New York Plaza Trust, Series 2020-1NYP, Class A                                 | CUSIP: 68249DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1300000 | PA      | $1267500.00   | 0.14%             | 2036-01-15      | Floating      | 5.10%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 3622ABJ94<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     544850 | PA      | $470412.58    | 0.05%             | 2051-12-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Cigna Group (The)                                       | Cigna Group (The)                                                                   | CUSIP: 125523CU2<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    1540000 | PA      | $1595053.32   | 0.17%             | 2031-05-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: —       |
| FHLMC                                                   | FHLMC Multifamily Structured Pass-Through Certificates, Series KF153, Class AS      | CUSIP: 3137H9Y94<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     602712 | PA      | $605645.79    | 0.06%             | 2033-02-25      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| Cintas Corp. No. 2                                      | Cintas Corp. No. 2                                                                  | CUSIP: 17252MAN0<br>LEI: 549300QVUQTTKMTE0G41 | Long             | DBT              | CORP              | US        |       4000 | PA      | $3984.88      | 0.00%             | 2027-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140QMHX5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1667569 | PA      | $1445400.93   | 0.15%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Carrier Global Corp.                                    | Carrier Global Corp.                                                                | CUSIP: 14448CBC7<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |     865000 | PA      | $930911.30    | 0.10%             | 2034-03-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Thomson Reuters Corp.                                   | Thomson Reuters Corp.                                                               | CUSIP: 884903BV6<br>LEI: 549300561UZND4C7B569 | Long             | DBT              | CORP              | CA        |     100000 | PA      | $99123.43     | 0.01%             | 2026-05-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Solventum Corp.                                         | Solventum Corp.                                                                     | CUSIP: 83444MAQ4<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    1315000 | PA      | $1369469.46   | 0.15%             | 2031-03-13      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                    | Deephaven Residential Mortgage Trust, Series 2021-4, Class A2                       | CUSIP: 24381JAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1635553 | PA      | $1453019.69   | 0.16%             | 2066-11-25      | Variable      | 2.09%                 | Yes           |                  2 | On Loan: No      |
| Province of Ontario Canada                              | Province of Ontario                                                                 | CUSIP: 683234AS7<br>LEI: C7PVKCRGLG18EBQGZV36 | Long             | DBT              | NUSS              | CA        |      50000 | PA      | $49620.22     | 0.01%             | 2026-01-21      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                       | BAT Capital Corp.                                                                   | CUSIP: 05526DBR5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     970000 | PA      | $927837.76    | 0.10%             | 2028-03-25      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| BBCMS Mortgage Trust                                    | BBCMS Mortgage Trust, Series 2025-5C36, Class A3                                    | CUSIP: 05556CAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1950000 | PA      | $2035803.32   | 0.22%             | 2058-08-15      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3132DVMC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    3082231 | PA      | $2783337.52   | 0.30%             | 2052-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 21H0426C8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1000000 | PA      | $975050.01    | 0.10%             | 2055-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810QN1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    6830000 | PA      | $7045038.32   | 0.75%             | 2041-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                | UnitedHealth Group, Inc.                                                            | CUSIP: 91324PEW8<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     271000 | PA      | $248775.65    | 0.03%             | 2053-04-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| MSWF Commercial Mortgage Trust                          | MSWF Commercial Mortgage Trust, Series 2023-1, Class A5                             | CUSIP: 55376CAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3000000 | PA      | $3180538.20   | 0.34%             | 2056-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                           | UMBS, 30 Year, Single Family                                                        | CUSIP: 01F0406B8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2000000 | PA      | $1897414.96   | 0.20%             | 2055-11-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Solventum Corp.                                         | Solventum Corp.                                                                     | CUSIP: 83444MAP6<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |     727000 | PA      | $751885.72    | 0.08%             | 2029-03-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: —       |
| Boeing Co. (The)                                        | Boeing Co. (The)                                                                    | CUSIP: 097023CU7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     200000 | PA      | $201950.38    | 0.02%             | 2027-05-01      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Motorola Solutions, Inc.                                | Motorola Solutions, Inc.                                                            | CUSIP: 620076BN8<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |     708000 | PA      | $715831.30    | 0.08%             | 2029-05-23      | Fixed         | 4.60%                 | No            |                  2 | On Loan: —       |
| N/A                                                     | U.S. Treasury Long Bond                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         18 | NC      | $-7910.46     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        | 1492208736 | PA      | $136980.09    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   16110000 | PA      | $31425.99     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic Services, Inc.                                 | Republic Services, Inc.                                                             | CUSIP: 760759AT7<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |     180000 | PA      | $179835.29    | 0.02%             | 2028-05-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 19 Ltd.                                     | Elmwood CLO 19 Ltd., Series 2022-6A, Class AR2                                      | CUSIP: 29004JAW3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    3050000 | PA      | $3053050.00   | 0.33%             | 2038-10-17      | Floating      | 5.15%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |  378000000 | PA      | $12902.24     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley                                          | Morgan Stanley                                                                      | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    1975000 | PA      | $1723859.49   | 0.18%             | 2036-09-16      | Variable      | 2.48%                 | No            |                  2 | On Loan: —       |
| N/A                                                     | Euro-Buxl                                                                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |         -1 | NC      | $-4112.45     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                     | Euro-Bobl                                                                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |        -50 | NC      | $-14402.91    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   11850000 | PA      | $2963.52      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| American Tower Corp.                                    | American Tower Corp.                                                                | CUSIP: 03027XAX8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |     300000 | PA      | $294973.20    | 0.03%             | 2027-01-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp.                                         | Microsoft Corp.                                                                     | CUSIP: 594918CN2<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |     410000 | PA      | $408476.98    | 0.04%             | 2026-09-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                                      | BMO Mortgage Trust, Series 2024-5C4, Class A3                                       | CUSIP: 09660SAU4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1900000 | PA      | $2019455.66   | 0.22%             | 2057-05-15      | Variable      | 6.53%                 | No            |                  2 | On Loan: No      |
| BBCMS Mortgage Trust                                    | BBCMS Mortgage Trust, Series 2024-C26, Class B                                      | CUSIP: 05555AAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1750000 | PA      | $1800729.88   | 0.19%             | 2057-05-15      | Variable      | 5.94%                 | No            |                  2 | On Loan: No      |
| Carrier Global Corp.                                    | Carrier Global Corp.                                                                | CUSIP: 14448CAL8<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |     650000 | PA      | $599062.78    | 0.06%             | 2031-02-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: —       |
| FNMA or FHLMC                                           | UMBS, 30 Year, Single Family                                                        | CUSIP: 01F0626B2<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |   -3000000 | PA      | $-3106454.22  | -0.33%            | 2055-11-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AGCO Corp.                                              | AGCO Corp.                                                                          | CUSIP: 001084AS1<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | DBT              | CORP              | US        |     572000 | PA      | $595796.36    | 0.06%             | 2034-03-21      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Notes                                                                 | CUSIP: 91282CBB6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   20070000 | PA      | $18841496.43  | 2.02%             | 2027-12-31      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                            | Barclays plc                                                                        | CUSIP: 06738ECZ6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    1735000 | PA      | $1814515.21   | 0.19%             | 2036-02-25      | Variable      | 5.79%                 | No            |                  2 | On Loan: No      |
| Adventist Health System                                 | Adventist Health System, Series 2025                                                | CUSIP: 007944AN1<br>LEI: 5493008YM33UCY5QPW83 | Long             | DBT              | CORP              | US        |    2765000 | PA      | $2784371.15   | 0.30%             | 2030-12-01      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| Republic of Chile                                       | Republic of Chile                                                                   | CUSIP: 168863DU9<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |     860000 | PA      | $545799.00    | 0.06%             | 2071-09-21      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                           | UMBS, 30 Year, Single Family                                                        | CUSIP: 01F0326C3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1000000 | PA      | $921157.98    | 0.10%             | 2055-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810TZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   14450000 | PA      | $14244539.06  | 1.52%             | 2044-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                    | American Tower Corp.                                                                | CUSIP: 03027XBR0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |     210000 | PA      | $205143.40    | 0.02%             | 2026-09-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: —       |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179XS80<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    3076873 | PA      | $2780940.13   | 0.30%             | 2053-02-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| American Water Capital Corp.                            | American Water Capital Corp., Class C                                               | CUSIP: 03040WAQ8<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |     100000 | PA      | $98196.61     | 0.01%             | 2027-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| CVC Cordatus Loan Fund III DAC                          | CVC Cordatus Loan Fund III DAC, Series 3A, Class B1R3                               | CUSIP: N/A<br>LEI: 213800XV458LVR3TU384       | Long             | ABS-CBDO         | CORP              | IE        |    1700000 | PA      | $1951837.46   | 0.21%             | 2038-05-26      | Floating      | 3.68%                 | Yes           |                  2 | On Loan: No      |
| Meta Platforms, Inc.                                    | Meta Platforms, Inc.                                                                | CUSIP: 30303MAB8<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    1875000 | PA      | $1873049.08   | 0.20%             | 2030-11-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Carlisle Cos., Inc.                                     | Carlisle Cos., Inc.                                                                 | CUSIP: 142339AJ9<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | DBT              | CORP              | US        |     371000 | PA      | $348399.40    | 0.04%             | 2030-03-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Crown Castle, Inc.                                      | Crown Castle, Inc.                                                                  | CUSIP: 22822VAZ4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |     100000 | PA      | $98198.95     | 0.01%             | 2027-03-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Martin Marietta Materials, Inc.                         | Martin Marietta Materials, Inc.                                                     | CUSIP: 573284AT3<br>LEI: 5299005MZ4WZECVATV08 | Long             | DBT              | CORP              | US        |     300000 | PA      | $296586.83    | 0.03%             | 2027-12-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: —       |
| NXP BV                                                  | NXP BV                                                                              | CUSIP: 62954HAY4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     750000 | PA      | $719198.48    | 0.08%             | 2030-05-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: —       |
| KIND Commercial Mortgage Trust                          | KIND Commercial Mortgage Trust, Series 2024-1, Class A                              | CUSIP: 494925AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     750000 | PA      | $750932.70    | 0.08%             | 2041-08-15      | Floating      | 5.92%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Notes                                                                 | CUSIP: 91282CKP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   19280000 | PA      | $19902081.15  | 2.13%             | 2029-04-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                    | JPMorgan Chase & Co.                                                                | CUSIP: 46647PEX0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     705000 | PA      | $743156.09    | 0.08%             | 2036-04-22      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 31418D4X7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     891866 | PA      | $728264.94    | 0.08%             | 2051-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Republic of Poland                                      | Republic of Poland                                                                  | CUSIP: 731011AY8<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     780000 | PA      | $801234.85    | 0.09%             | 2034-09-18      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan, Inc.                                  | Freeport-McMoRan, Inc.                                                              | CUSIP: 35671DCE3<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |     115000 | PA      | $114443.82    | 0.01%             | 2028-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| AppLovin Corp.                                          | AppLovin Corp.                                                                      | CUSIP: 03831WAD0<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |    2000000 | PA      | $2054241.70   | 0.22%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | SOP                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    9400000 | PA      | $1041.68      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Province of Ontario Canada                              | Province of Ontario                                                                 | CUSIP: 68323AFG4<br>LEI: C7PVKCRGLG18EBQGZV36 | Long             | DBT              | NUSS              | CA        |      25000 | PA      | $23380.26     | 0.00%             | 2029-10-02      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                | UnitedHealth Group, Inc.                                                            | CUSIP: 91324PFB3<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    1525000 | PA      | $1551644.89   | 0.17%             | 2034-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Barclays Dryrock Issuance Trust                         | Barclays Dryrock Issuance Trust, Series 2023-1, Class A                             | CUSIP: 06742LAX1<br>LEI: 213800R4G3N2G68CHU37 | Long             | ABS-O            | CORP              | US        |    4400000 | PA      | $4412832.16   | 0.47%             | 2029-02-15      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    9038564 | PA      | $80323.20     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| British Telecommunications plc                          | British Telecommunications plc                                                      | CUSIP: 111021AE1<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |     945000 | PA      | $1156091.56   | 0.12%             | 2030-12-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 19 Ltd.                                     | Elmwood CLO 19 Ltd., Series 2022-6A, Class BR2                                      | CUSIP: 29004JAY9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    3000000 | PA      | $3009225.00   | 0.32%             | 2038-10-17      | Floating      | 5.46%                 | Yes           |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                      | LPL Holdings, Inc.                                                                  | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |     915000 | PA      | $893678.28    | 0.10%             | 2029-03-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: —       |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3133KKNB1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1264489 | PA      | $1080146.86   | 0.12%             | 2050-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810TK4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   12050000 | PA      | $10353115.26  | 1.11%             | 2042-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| OBX Trust                                               | OBX Trust, Series 2025-NQM15, Class A1A                                             | CUSIP: 67122CAA3<br>LEI: 254900Y3YIZHUWMEGC78 | Long             | ABS-MBS          | CORP              | US        |    3393426 | PA      | $3404655.05   | 0.36%             | 2065-07-27      | Variable      | 5.14%                 | Yes           |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                  | Santander Drive Auto Receivables Trust, Series 2025-1, Class A2                     | CUSIP: 80288DAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     247659 | PA      | $247749.09    | 0.03%             | 2027-08-16      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| Mars, Inc.                                              | Mars, Inc.                                                                          | CUSIP: 571676AZ8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    2250000 | PA      | $2312154.77   | 0.25%             | 2032-03-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Howmet Aerospace, Inc.                                  | Howmet Aerospace, Inc.                                                              | CUSIP: 443201AC2<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |     650000 | PA      | $667327.40    | 0.07%             | 2031-10-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: —       |
| GNMA                                                    | GNMA                                                                                | CUSIP: 3622ABGK2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     755189 | PA      | $649543.77    | 0.07%             | 2051-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Aon Corp.                                               | Aon Corp.                                                                           | CUSIP: 037389BE2<br>LEI: LTS3U8DGK38SETRUWX71 | Long             | DBT              | CORP              | US        |     200000 | PA      | $188036.70    | 0.02%             | 2030-05-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: —       |
| UnitedHealth Group, Inc.                                | UnitedHealth Group, Inc.                                                            | CUSIP: 91324PEE8<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     375000 | PA      | $286240.55    | 0.03%             | 2041-05-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: —       |
| Allegion US Holding Co., Inc.                           | Allegion US Holding Co., Inc.                                                       | CUSIP: 01748NAF1<br>LEI: 5493002B66JX7J7SXI33 | Long             | DBT              | CORP              | US        |     695000 | PA      | $727714.66    | 0.08%             | 2034-05-29      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | SOP                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |    1590000 | PA      | $7676.72      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810QH4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    5800000 | PA      | $5768281.25   | 0.62%             | 2040-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                           | UMBS, 30 Year, Single Family                                                        | CUSIP: 01F0306B9<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |   -1000000 | PA      | $-885937.50   | -0.09%            | 2055-11-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |  287720000 | PA      | $-54642.42    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   15450000 | PA      | $40035.57     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3132DWBN2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    3987125 | PA      | $3080408.85   | 0.33%             | 2051-05-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | CDI                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        |  115325000 | PA      | $432965.44    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140X5TV5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     683664 | PA      | $620718.46    | 0.07%             | 2050-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140QQUM5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   10912315 | PA      | $11207987.79  | 1.20%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   20630000 | PA      | $29505.54     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VICI Properties LP                                      | VICI Properties LP                                                                  | CUSIP: 92564RAK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     250000 | PA      | $249804.57    | 0.03%             | 2028-01-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Campbell's Co. (The)                                    | Campbell's Co. (The)                                                                | CUSIP: 134429BP3<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |    1802000 | PA      | $1850911.63   | 0.20%             | 2034-03-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: —       |
| UBS Group AG                                            | UBS Group AG                                                                        | CUSIP: 902613BE7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |     370000 | PA      | $433277.03    | 0.05%             | 2033-11-13      | Variable      | 9.25%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | Forward Foreign Currency Contract                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |          1 | NC      | $34522.44     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Choice Hotels International, Inc.                       | Choice Hotels International, Inc.                                                   | CUSIP: 169905AF3<br>LEI: 5493003CYRY5RFGTIR97 | Long             | DBT              | CORP              | US        |     465000 | PA      | $446406.40    | 0.05%             | 2029-12-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: —       |
| Sagard-Halseypoint CLO 8 Ltd.                           | Sagard-Halseypoint CLO 8 Ltd., Series 2024-8A, Class A1                             | CUSIP: 78662AAA0<br>LEI: 254900W5MVYX9QDPHC09 | Long             | ABS-CBDO         | CORP              | KY        |    2700000 | PA      | $2707065.90   | 0.29%             | 2038-01-30      | Floating      | 5.23%                 | Yes           |                  2 | On Loan: No      |
| NatWest Group plc                                       | NatWest Group plc                                                                   | CUSIP: 639057AV0<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |     565000 | PA      | $580125.59    | 0.06%             | 2031-05-23      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 31418D3G5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    6018221 | PA      | $4915502.23   | 0.53%             | 2051-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                              | Verus Securitization Trust, Series 2025-INV1, Class A1                              | CUSIP: 924929AC6<br>LEI: 213800YO7QOQOFRSRN78 | Long             | ABS-MBS          | CORP              | US        |    1535185 | PA      | $1546552.37   | 0.17%             | 2070-02-25      | Variable      | 5.55%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810TD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    4180000 | PA      | $2622623.46   | 0.28%             | 2052-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| National Rural Utilities Cooperative Finance Corp.      | National Rural Utilities Cooperative Finance Corp.                                  | CUSIP: 63743HEW8<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |     100000 | PA      | $98095.09     | 0.01%             | 2026-06-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    1940000 | PA      | $-174.07      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810TM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    2550000 | PA      | $2376580.08   | 0.25%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                            | Marriott International, Inc., Series HH                                             | CUSIP: 571903BG7<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    3000000 | PA      | $2763427.29   | 0.30%             | 2031-04-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                 | MPLX LP                                                                             | CUSIP: 55336VBQ2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     600000 | PA      | $552621.22    | 0.06%             | 2030-08-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: —       |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179TAJ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     348198 | PA      | $317305.67    | 0.03%             | 2047-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                              | Charles Schwab Corp. (The)                                                          | CUSIP: 808513BY0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |     205000 | PA      | $200883.86    | 0.02%             | 2027-03-03      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| PacifiCorp                                              | PacifiCorp                                                                          | CUSIP: 695114CW6<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |     100000 | PA      | $92445.44     | 0.01%             | 2030-09-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    3320000 | PA      | $-8461.66     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                        | Boeing Co. (The)                                                                    | CUSIP: 097023CB9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     450000 | PA      | $335094.38    | 0.04%             | 2048-11-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140QNQJ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1593641 | PA      | $1305346.12   | 0.14%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Quanta Services, Inc.                                   | Quanta Services, Inc.                                                               | CUSIP: 74762EAF9<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |     100000 | PA      | $93522.80     | 0.01%             | 2030-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: —       |
| Oracle Corp.                                            | Oracle Corp.                                                                        | CUSIP: 68389XCK9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     850000 | PA      | $906322.65    | 0.10%             | 2052-11-09      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | Forward Foreign Currency Contract                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |          1 | NC      | $-26276.09    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Air Lease Corp.                                         | Air Lease Corp.                                                                     | CUSIP: 00914AAX0<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    1075000 | PA      | $1094319.46   | 0.12%             | 2031-07-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Co.                                   | Saudi Arabian Oil Co.                                                               | CUSIP: N/A<br>LEI: 5586006WD91QHB7J4X50       | Long             | DBT              | NUSS              | SA        |    2370000 | PA      | $2322600.00   | 0.25%             | 2029-04-16      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: —       |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |     550000 | PA      | $-2402.49     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Public Storage Operating Co.                            | Public Storage Operating Co.                                                        | CUSIP: 74460DAD1<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              | CORP              | US        |     550000 | PA      | $537164.10    | 0.06%             | 2029-05-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3132DPH92<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     706631 | PA      | $735385.02    | 0.08%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                   | FHLMC STACR REMIC Trust, Series 2024-DNA2, Class M1                                 | CUSIP: 35564NCX9<br>LEI: 529900GRKKKHILZX4347 | Long             | ABS-MBS          | CORP              | US        |    1812743 | PA      | $1817937.36   | 0.19%             | 2044-05-25      | Floating      | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Entergy Texas, Inc.                                     | Entergy Texas, Inc.                                                                 | CUSIP: 29365TAG9<br>LEI: LWXX58X12AJXISQ28573 | Long             | DBT              | CORP              | US        |     100000 | PA      | $99633.49     | 0.01%             | 2029-03-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140XCXH6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     721020 | PA      | $626462.36    | 0.07%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   22520000 | PA      | $-19039.39    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                              | J.P. Morgan Mortgage Trust, Series 2024-VIS2, Class A1                              | CUSIP: 46658DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1466229 | PA      | $1478896.55   | 0.16%             | 2064-11-25      | Variable      | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Coca-Cola Femsa SAB de CV                               | Coca-Cola Femsa SAB de CV                                                           | CUSIP: 191241AH1<br>LEI: 5493008KEVFYPMGTXO33 | Long             | DBT              | CORP              | MX        |    1852000 | PA      | $1739476.55   | 0.19%             | 2030-01-22      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Notes                                                                 | CUSIP: 91282CHJ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1520000 | PA      | $1523087.50   | 0.16%             | 2030-06-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                               | Ford Motor Credit Co. LLC                                                           | CUSIP: 345397E74<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     558000 | PA      | $565946.14    | 0.06%             | 2027-05-17      | Fixed         | 5.85%                 | No            |                  2 | On Loan: —       |
| Huntington Ingalls Industries, Inc.                     | Huntington Ingalls Industries, Inc.                                                 | CUSIP: 446413AL0<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |     500000 | PA      | $491805.34    | 0.05%             | 2027-12-01      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| CF SECURED LLC                                          | Treasury Repurchase Agreement                                                       | CUSIP: N/A<br>LEI: 254900OXTV81I73FAT50       | Long             | RA               | CORP              | US        |   17605932 | PA      | $17605932.50  | 1.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Duke Energy Corp.                                       | Duke Energy Corp.                                                                   | CUSIP: 26441CBS3<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |      90000 | PA      | $90253.74     | 0.01%             | 2028-03-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                           | UMBS, 30 Year, Single Family                                                        | CUSIP: 01F0526B3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   47000000 | PA      | $47483943.02  | 5.08%             | 2055-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MSWF Commercial Mortgage Trust                          | MSWF Commercial Mortgage Trust, Series 2023-2, Class A2                             | CUSIP: 55361AAR5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2050000 | PA      | $2162266.61   | 0.23%             | 2056-12-15      | Fixed         | 6.89%                 | No            |                  2 | On Loan: No      |
| Sempra                                                  | Sempra                                                                              | CUSIP: 816851BA6<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |     100000 | PA      | $98346.48     | 0.01%             | 2027-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140Q9W90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     753764 | PA      | $728205.07    | 0.08%             | 2048-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GE Capital International Funding Co. Unlimited Co.      | GE Capital International Funding Co. Unlimited Co.                                  | CUSIP: 36164QNA2<br>LEI: 549300G6UZOB126GBY72 | Long             | DBT              | CORP              | IE        |     475000 | PA      | $465757.96    | 0.05%             | 2035-11-15      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                   | United Mexican States                                                               | CUSIP: 91087BAP5<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    2330000 | PA      | $1440872.00   | 0.15%             | 2071-04-19      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                        | CVS Health Corp.                                                                    | CUSIP: 126650CY4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    1150000 | PA      | $1080517.64   | 0.12%             | 2038-03-25      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                | BX Trust, Series 2024-PAT, Class B                                                  | CUSIP: 05612FAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     225000 | PA      | $224929.69    | 0.02%             | 2041-03-15      | Floating      | 7.07%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    2900000 | PA      | $42018.49     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Global Payments, Inc.                                   | Global Payments, Inc.                                                               | CUSIP: 37940XAN2<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |     365000 | PA      | $371445.76    | 0.04%             | 2029-08-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| ONE Gas, Inc.                                           | ONE Gas, Inc.                                                                       | CUSIP: 68235PAM0<br>LEI: 549300HXDWI0LATTX840 | Long             | DBT              | CORP              | US        |     195000 | PA      | $193104.62    | 0.02%             | 2032-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179XDE3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     211324 | PA      | $207832.00    | 0.02%             | 2052-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Altria Group, Inc.                                      | Altria Group, Inc.                                                                  | CUSIP: 02209SBD4<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |     927000 | PA      | $940990.27    | 0.10%             | 2029-02-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: —       |
| GNMA                                                    | GNMA                                                                                | CUSIP: 21H0606B2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   13000000 | PA      | $13230121.71  | 1.42%             | 2055-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Cabot Corp.                                             | Cabot Corp.                                                                         | CUSIP: 127055AL5<br>LEI: K05C0SER542GQ6VLRO68 | Long             | DBT              | CORP              | US        |     720000 | PA      | $712551.76    | 0.08%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179Q3H2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     368845 | PA      | $336377.69    | 0.04%             | 2045-02-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FS KKR Capital Corp.                                    | FS KKR Capital Corp.                                                                | CUSIP: 302635AG2<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |     200000 | PA      | $199391.40    | 0.02%             | 2026-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Province of Quebec Canada                               | Province of Quebec                                                                  | CUSIP: 748149AJ0<br>LEI: 549300WN65YFEQH74Y36 | Long             | DBT              | NUSS              | CA        |      50000 | PA      | $49645.65     | 0.01%             | 2026-04-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Ares European CLO XXI DAC                               | Ares European CLO XXI DAC, Series 21A, Class B                                      | CUSIP: N/A<br>LEI: 254900REPQKNP1XRDH75       | Long             | ABS-CBDO         | CORP              | IE        |     680000 | PA      | $779258.30    | 0.08%             | 2038-04-15      | Floating      | 3.71%                 | Yes           |                  2 | On Loan: No      |
| National Bank of Kuwait                                 | National Bank of Kuwait                                                             | CUSIP: 63376F2N9<br>LEI: 549300NB7FE83IH6BW96 | Long             | STIV             | CORP              | KW        |    4664000 | PA      | $4665461.70   | 0.50%             | 2025-12-02      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                   | Dominion Energy, Inc., Series C                                                     | CUSIP: 25746UDG1<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     100000 | PA      | $96135.81     | 0.01%             | 2030-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BANK5                                                   | BANK5, Series 2024-5YR9, Class AS                                                   | CUSIP: 06644VBM1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1400000 | PA      | $1462736.10   | 0.16%             | 2057-08-15      | Variable      | 6.18%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | Forward Foreign Currency Contract                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |          1 | NC      | $98684.47     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Mars, Inc.                                              | Mars, Inc.                                                                          | CUSIP: 571676AY1<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     725000 | PA      | $740609.50    | 0.08%             | 2030-03-01      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: —       |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        | 6118000000 | PA      | $90903.66     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SANTANDER US CAPITAL MARKETS LLC                        | Government Agency Repurchase Agreement                                              | CUSIP: N/A<br>LEI: 549300LGG2RLWD21SU97       | Long             | RA               | CORP              | US        |    1000000 | PA      | $1000000.00   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                       | BAT Capital Corp.                                                                   | CUSIP: 05526DBZ7<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    1134000 | PA      | $1210449.53   | 0.13%             | 2034-02-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ameren Corp.                                            | Ameren Corp.                                                                        | CUSIP: 023608AJ1<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |     200000 | PA      | $191329.80    | 0.02%             | 2031-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: —       |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   10360000 | PA      | $-18238.83    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK                                                    | BANK, Series 2020-BN27, Class A5                                                    | CUSIP: 06539XAH7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     796000 | PA      | $707683.24    | 0.08%             | 2063-04-15      | Fixed         | 2.14%                 | No            |                  2 | On Loan: No      |
| Durst Commercial Mortgage Trust                         | Durst Commercial Mortgage Trust, Series 2025-151, Class A                           | CUSIP: 266895AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2150000 | PA      | $2190949.12   | 0.23%             | 2042-08-10      | Variable      | 5.15%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                   | Wells Fargo Commercial Mortgage Trust, Series 2024-MGP, Class B12                   | CUSIP: 95003TAU7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     800000 | PA      | $798761.52    | 0.09%             | 2041-08-15      | Floating      | 6.32%                 | Yes           |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                  | Santander Drive Auto Receivables Trust, Series 2025-1, Class A3                     | CUSIP: 80288DAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1900000 | PA      | $1906145.55   | 0.20%             | 2029-01-16      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 31418D3J9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3012234 | PA      | $2681965.97   | 0.29%             | 2051-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| IRV Trust                                               | IRV Trust, Series 2025-200P, Class A                                                | CUSIP: 45006HAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2100000 | PA      | $2154710.67   | 0.23%             | 2047-03-14      | Variable      | 5.29%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 3622ABJH6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     945713 | PA      | $816512.37    | 0.09%             | 2051-11-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Kyndryl Holdings, Inc.                                  | Kyndryl Holdings, Inc.                                                              | CUSIP: 50155QAK6<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |      40000 | PA      | $38171.26     | 0.00%             | 2028-10-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | Euro-OAT                                                                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |        -91 | NC      | $78545.29     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group, Inc.                                  | WEC Energy Group, Inc.                                                              | CUSIP: 92939UAJ5<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |     180000 | PA      | $183372.32    | 0.02%             | 2027-10-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: —       |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    2160000 | PA      | $1090.65      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Golub Capital BDC, Inc.                                 | Golub Capital BDC, Inc.                                                             | CUSIP: 38173MAB8<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |     163000 | PA      | $160122.36    | 0.02%             | 2026-08-24      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    1140000 | PA      | $4817.76      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA, Series 2021-135, Class A                                                      | CUSIP: 38382XAA3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    6389078 | PA      | $5345721.04   | 0.57%             | 2051-08-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BANK                                                    | BANK, Series 2022-BNK43, Class A5                                                   | CUSIP: 06541QAZ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1250000 | PA      | $1226615.88   | 0.13%             | 2055-08-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Hungary                                                 | Hungary Government Bond                                                             | CUSIP: N/A<br>LEI: 5299003F3UFKGCCMAP43       | Long             | DBT              | NUSS              | HU        |     940000 | PA      | $979821.47    | 0.10%             | 2028-05-22      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                          | Morgan Stanley                                                                      | CUSIP: 6174467X1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     300000 | PA      | $300062.93    | 0.03%             | 2025-11-24      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140XB5T3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3304542 | PA      | $2983216.02   | 0.32%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Galaxy Pipeline Assets Bidco Ltd.                       | Galaxy Pipeline Assets Bidco Ltd.                                                   | CUSIP: N/A<br>LEI: 549300L82YB0C6JQIC26       | Long             | DBT              | CORP              | JE        |    2770000 | PA      | $2447496.49   | 0.26%             | 2036-03-31      | Fixed         | 2.62%                 | Yes           |                  2 | On Loan: No      |
| Southern Co. Gas Capital Corp.                          | Southern Co. Gas Capital Corp., Series 20-A                                         | CUSIP: 8426EPAD0<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |     100000 | PA      | $87797.18     | 0.01%             | 2031-01-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: —       |
| BX Commercial Mortgage Trust                            | BX Commercial Mortgage Trust, Series 2024-XL5, Class A                              | CUSIP: 05612GAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1091991 | PA      | $1092673.46   | 0.12%             | 2041-03-15      | Floating      | 5.42%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        | 1479000000 | PA      | $5380.99      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Columbia Pipelines Operating Co. LLC                    | Columbia Pipelines Operating Co. LLC                                                | CUSIP: 19828TAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     525000 | PA      | $560087.54    | 0.06%             | 2033-11-15      | Fixed         | 6.04%                 | Yes           |                  2 | On Loan: No      |
| Las Vegas Sands Corp.                                   | Las Vegas Sands Corp.                                                               | CUSIP: 517834AM9<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |     690000 | PA      | $705547.12    | 0.08%             | 2028-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Indiana Michigan Power Co.                              | Indiana Michigan Power Co.                                                          | CUSIP: 454889AS5<br>LEI: JHR9V15J0ZRG02MIRD06 | Long             | DBT              | CORP              | US        |     200000 | PA      | $199198.23    | 0.02%             | 2028-05-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: —       |
| ONEOK, Inc.                                             | ONEOK, Inc.                                                                         | CUSIP: 682680AS2<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |     800000 | PA      | $797260.43    | 0.09%             | 2027-07-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| US Bancorp                                              | US Bancorp                                                                          | CUSIP: 91159HJM3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     325000 | PA      | $337552.42    | 0.04%             | 2029-06-12      | Variable      | 5.78%                 | No            |                  2 | On Loan: —       |
| N/A                                                     | SOP                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |   -5010000 | PA      | $-1979.36     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | SOP                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |    -670000 | PA      | $-5237.98     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| American Electric Power Co., Inc.                       | American Electric Power Co., Inc.                                                   | CUSIP: 025537AN1<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |     100000 | PA      | $91882.13     | 0.01%             | 2030-03-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                          | Morgan Stanley                                                                      | CUSIP: 61746BEF9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    1000000 | PA      | $996231.00    | 0.11%             | 2027-01-20      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                   | Bank of America Corp.                                                               | CUSIP: 59022CAJ2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     375000 | PA      | $404569.61    | 0.04%             | 2037-01-29      | Fixed         | 6.11%                 | No            |                  2 | On Loan: No      |
| Bank of America Merrill Lynch Commercial Mortgage Trust | Bank of America Merrill Lynch Commercial Mortgage Trust, Series 2016-UB10, Class A4 | CUSIP: 06054MAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     735000 | PA      | $730509.66    | 0.08%             | 2049-07-15      | Fixed         | 3.17%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                      | Banco Santander SA                                                                  | CUSIP: 05964HAV7<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    2400000 | PA      | $2661941.28   | 0.28%             | 2033-08-08      | Fixed         | 6.92%                 | No            |                  2 | On Loan: No      |
| Oncor Electric Delivery Co. LLC                         | Oncor Electric Delivery Co. LLC                                                     | CUSIP: 68233JCF9<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |     125000 | PA      | $122444.02    | 0.01%             | 2032-06-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| British Pound                                           | British Pound                                                                       | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | GB        |        -66 | OU      | $-86.72       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Southwestern Electric Power Co.                         | Southwestern Electric Power Co., Series N                                           | CUSIP: 845437BS0<br>LEI: R64UBJHEC74EB3HGQ410 | Long             | DBT              | CORP              | US        |     250000 | PA      | $247673.71    | 0.03%             | 2026-03-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: —       |
| Ellington Financial Mortgage Trust                      | Ellington Financial Mortgage Trust, Series 2021-2, Class A1                         | CUSIP: 31572LAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2465245 | PA      | $2077511.86   | 0.22%             | 2066-06-25      | Variable      | 0.93%                 | Yes           |                  2 | On Loan: No      |
| Boeing Co. (The)                                        | Boeing Co. (The)                                                                    | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    1089000 | PA      | $1204945.88   | 0.13%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Hyatt Hotels Corp.                                      | Hyatt Hotels Corp.                                                                  | CUSIP: 448579AS1<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    1853000 | PA      | $1905312.04   | 0.20%             | 2034-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| Province of Ontario Canada                              | Province of Ontario                                                                 | CUSIP: 683234AQ1<br>LEI: C7PVKCRGLG18EBQGZV36 | Long             | DBT              | NUSS              | CA        |      25000 | PA      | $23974.48     | 0.00%             | 2027-05-21      | Fixed         | 1.05%                 | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179RD63<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     268543 | PA      | $245469.82    | 0.03%             | 2045-05-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | SOP                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |    4280000 | PA      | $8509.21      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                         | Citigroup, Inc.                                                                     | CUSIP: 172967KA8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     400000 | PA      | $401269.62    | 0.04%             | 2027-09-29      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                            | UBS Group AG                                                                        | CUSIP: 225401BB3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |     975000 | PA      | $1225537.43   | 0.13%             | 2033-11-15      | Variable      | 9.02%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 31418DC67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2371737 | PA      | $2212262.38   | 0.24%             | 2049-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd.                         | Palmer Square Loan Funding Ltd., Series 2022-3A, Class A1BR                         | CUSIP: 69690CAN3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    2075000 | PA      | $2079129.25   | 0.22%             | 2031-04-15      | Floating      | 5.30%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    2470000 | PA      | $-8351.10     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Sempra                                                  | Sempra                                                                              | CUSIP: 816851BP3<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |     200000 | PA      | $196262.45    | 0.02%             | 2029-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   74770000 | PA      | $213472.10    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| M&T Bank Corp.                                          | M&T Bank Corp.                                                                      | CUSIP: 55261FAR5<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    1280000 | PA      | $1283404.81   | 0.14%             | 2034-01-27      | Variable      | 5.05%                 | No            |                  2 | On Loan: —       |
| Houston Galleria Mall Trust                             | Houston Galleria Mall Trust, Series 2025-HGLR, Class A                              | CUSIP: 44216XAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1200000 | PA      | $1246225.92   | 0.13%             | 2045-02-05      | Variable      | 5.46%                 | Yes           |                  2 | On Loan: No      |
| Elmwood CLO 29 Ltd.                                     | Elmwood CLO 29 Ltd., Series 2024-5A, Class AR2                                      | CUSIP: 289913AE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1750000 | PA      | $1752696.75   | 0.19%             | 2037-04-20      | Floating      | 5.58%                 | Yes           |                  2 | On Loan: No      |
| Cedar Funding IX CLO Ltd.                               | Cedar Funding IX CLO Ltd., Series 2018-9A, Class AR                                 | CUSIP: 15033EAN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    2060000 | PA      | $2064288.92   | 0.22%             | 2037-07-20      | Floating      | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Oracle Corp.                                            | Oracle Corp.                                                                        | CUSIP: 68389XCZ6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    1299000 | PA      | $1322435.45   | 0.14%             | 2032-02-03      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3132E06J6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     763358 | PA      | $807616.71    | 0.09%             | 2053-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                            | AbbVie, Inc.                                                                        | CUSIP: 00287YCB3<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |      46000 | PA      | $38720.17     | 0.00%             | 2049-11-21      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140J9VA6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     654163 | PA      | $637815.85    | 0.07%             | 2033-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140XAH88<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1020319 | PA      | $839760.18    | 0.09%             | 2051-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   40560000 | PA      | $99891.78     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MPLX LP                                                 | MPLX LP                                                                             | CUSIP: 55336VAS9<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     733000 | PA      | $743945.82    | 0.08%             | 2029-02-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: —       |
| Barings BDC, Inc.                                       | Barings BDC, Inc.                                                                   | CUSIP: 06759LAC7<br>LEI: 549300GSF4KFZP6ONG49 | Long             | DBT              | CORP              | US        |      25000 | PA      | $24588.83     | 0.00%             | 2026-11-23      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Province of Alberta Canada                              | Province of Alberta                                                                 | CUSIP: 013051EM5<br>LEI: LQPXMHHNJKIPJYE53543 | Long             | DBT              | NUSS              | CA        |      60000 | PA      | $53450.20     | 0.01%             | 2030-07-22      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| RR 26 Ltd.                                              | RR 26 Ltd., Series 2023-26A, Class A1R                                              | CUSIP: 74989MAN1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    2200000 | PA      | $2200772.20   | 0.24%             | 2038-04-15      | Floating      | 5.02%                 | Yes           |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                              | J.P. Morgan Mortgage Trust, Series 2023-HE3, Class A1                               | CUSIP: 465985AA7<br>LEI: 5299007DSRZLE19EYU93 | Long             | ABS-O            | CORP              | US        |     385859 | PA      | $387103.40    | 0.04%             | 2054-05-20      | Floating      | 5.78%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | SOP                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |   -1310000 | PA      | $-685.35      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Eagle Funding Luxco Sarl                                | Eagle Funding Luxco Sarl                                                            | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    2840000 | PA      | $2885156.00   | 0.31%             | 2030-08-17      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   94940000 | PA      | $84921.50     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    2650000 | PA      | $5657.81      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Solventum Corp.                                         | Solventum Corp.                                                                     | CUSIP: 83444MAR2<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |     925000 | PA      | $962025.92    | 0.10%             | 2034-03-23      | Fixed         | 5.60%                 | No            |                  2 | On Loan: —       |
| LEX Mortgage Trust                                      | LEX Mortgage Trust, Series 2024-BBG, Class A                                        | CUSIP: 52885AAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1600000 | PA      | $1606882.72   | 0.17%             | 2033-10-13      | Variable      | 4.87%                 | Yes           |                  2 | On Loan: No      |
| Time Warner Cable LLC                                   | Time Warner Cable LLC                                                               | CUSIP: 88732JAY4<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |     825000 | PA      | $771616.88    | 0.08%             | 2040-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Hong Kong Dollar                                        | Hong Kong Dollar                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | HK        |          1 | OU      | $0.08         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA or FHLMC                                           | UMBS, 30 Year, Single Family                                                        | CUSIP: 01F0506B7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    5000000 | PA      | $4974434.90   | 0.53%             | 2055-11-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | SOP                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |    -420000 | PA      | $-9280.69     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Ovintiv, Inc.                                           | Ovintiv, Inc.                                                                       | CUSIP: 651290AR9<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |      40000 | PA      | $39960.56     | 0.00%             | 2026-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                              | AT&T, Inc.                                                                          | CUSIP: 00206RHK1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    1000000 | PA      | $957164.99    | 0.10%             | 2039-03-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: —       |
| General Mills, Inc.                                     | General Mills, Inc.                                                                 | CUSIP: 370334CG7<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |     250000 | PA      | $250169.91    | 0.03%             | 2028-04-17      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3133KPYR3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1301677 | PA      | $1240567.91   | 0.13%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                        | Boeing Co. (The)                                                                    | CUSIP: 097023BS3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    1100000 | PA      | $787156.85    | 0.08%             | 2046-06-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                            | Marriott International, Inc.                                                        | CUSIP: 571903BP7<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |     591000 | PA      | $602942.44    | 0.06%             | 2029-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| FNMA                                                    | UMBS                                                                                | CUSIP: 31418EF39<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2285461 | PA      | $2048081.97   | 0.22%             | 2037-06-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                              | J.P. Morgan Mortgage Trust, Series 2025-VIS1, Class A1                              | CUSIP: 46659BAC6<br>LEI: 529900CBDGTUOOQONB64 | Long             | ABS-MBS          | CORP              | US        |          0 | PA      | $0.00         | 0.00%             | 2055-08-25      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Xcel Energy, Inc.                                       | Xcel Energy, Inc.                                                                   | CUSIP: 98389BAU4<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |     775000 | PA      | $768981.82    | 0.08%             | 2026-12-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| CenterPoint Energy, Inc.                                | CenterPoint Energy, Inc.                                                            | CUSIP: 15189TAX5<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |      89000 | PA      | $84355.42     | 0.01%             | 2030-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: —       |
| Expedia Group, Inc.                                     | Expedia Group, Inc.                                                                 | CUSIP: 30212PAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     496000 | PA      | $473485.89    | 0.05%             | 2030-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BANK5                                                   | BANK5, Series 2024-5YR8, Class A3                                                   | CUSIP: 065923AY0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     875000 | PA      | $917540.49    | 0.10%             | 2057-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                | UnitedHealth Group, Inc.                                                            | CUSIP: 91324PES7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     775000 | PA      | $795840.39    | 0.09%             | 2053-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   13220000 | PA      | $4469.35      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |     440000 | PA      | $508.78       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                     | Exeter Automobile Receivables Trust, Series 2025-1A, Class A2                       | CUSIP: 30167MAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     395827 | PA      | $395962.55    | 0.04%             | 2027-09-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179YW59<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   11461616 | PA      | $11586511.70  | 1.24%             | 2054-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                            | Oracle Corp.                                                                        | CUSIP: 68389XCD5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     600000 | PA      | $573821.51    | 0.06%             | 2028-03-25      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                          | Morgan Stanley                                                                      | CUSIP: 61747YFL4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     420000 | PA      | $436827.09    | 0.05%             | 2035-01-18      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| HP, Inc.                                                | HP, Inc.                                                                            | CUSIP: 40434LAB1<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |      35000 | PA      | $34345.73     | 0.00%             | 2027-06-17      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    8740000 | PA      | $-130917.98   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                     | Exeter Automobile Receivables Trust, Series 2025-1A, Class A3                       | CUSIP: 30167MAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     525000 | PA      | $525754.69    | 0.06%             | 2028-08-15      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3133KQK62<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     745680 | PA      | $775780.93    | 0.08%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Czech Repub. Kronas                                     | Czech Repub. Kronas                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CZ        |          1 | OU      | $0.04         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   30130000 | PA      | $-13593.78    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810TV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   12360000 | PA      | $12500981.25  | 1.34%             | 2053-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3132DVML6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    8075146 | PA      | $7993493.23   | 0.86%             | 2053-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                            | Oracle Corp.                                                                        | CUSIP: 68389XDK8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    1495000 | PA      | $1479608.11   | 0.16%             | 2032-09-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| J M Smucker Co. (The)                                   | J M Smucker Co. (The)                                                               | CUSIP: 832696AX6<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |     602000 | PA      | $652831.51    | 0.07%             | 2033-11-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: —       |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   50110000 | PA      | $114322.11    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Trinitas CLO XXXI Ltd.                                  | Trinitas CLO XXXI Ltd., Series 2024-31A, Class A1                                   | CUSIP: 895972AA5<br>LEI: 254900Z3YHI8W31ZWI81 | Long             | ABS-CBDO         | CORP              | KY        |    3125000 | PA      | $3131521.88   | 0.34%             | 2038-01-22      | Floating      | 5.21%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                            | UBS Group AG                                                                        | CUSIP: 902613BQ0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |     945000 | PA      | $986205.95    | 0.11%             | 2036-05-09      | Variable      | 5.58%                 | Yes           |                  2 | On Loan: —       |
| GLP Capital LP                                          | GLP Capital LP                                                                      | CUSIP: 361841AK5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     510000 | PA      | $524471.25    | 0.06%             | 2028-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Devon Energy Corp.                                      | Devon Energy Corp.                                                                  | CUSIP: 25179MBF9<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |     389000 | PA      | $389898.85    | 0.04%             | 2030-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| M&T Bank Corp.                                          | M&T Bank Corp.                                                                      | CUSIP: 55261FAS3<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |     260000 | PA      | $281467.53    | 0.03%             | 2029-10-30      | Variable      | 7.41%                 | No            |                  2 | On Loan: —       |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179MK66<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     341047 | PA      | $317486.32    | 0.03%             | 2042-08-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 31418DR46<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     616716 | PA      | $556343.74    | 0.06%             | 2035-07-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| NXP BV                                                  | NXP BV                                                                              | CUSIP: 62954HAX6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     265000 | PA      | $261008.52    | 0.03%             | 2027-05-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | SOP                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |    -510000 | PA      | $-7147.84     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    3930000 | PA      | $13384.21     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179XDB9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1802905 | PA      | $1623899.42   | 0.17%             | 2052-08-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PPL Capital Funding, Inc.                               | PPL Capital Funding, Inc.                                                           | CUSIP: 69352PAL7<br>LEI: 549300MROK5WY0D2NU17 | Long             | DBT              | CORP              | US        |      50000 | PA      | $49688.38     | 0.01%             | 2026-05-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: —       |
| Sprint Capital Corp.                                    | Sprint Capital Corp.                                                                | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |     255000 | PA      | $310220.00    | 0.03%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | U.S. Treasury 2 Year Note                                                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        710 | NC      | $-214395.58   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Capital America                                 | Hyundai Capital America                                                             | CUSIP: 44891ACP0<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     235000 | PA      | $251207.61    | 0.03%             | 2030-09-21      | Fixed         | 6.20%                 | Yes           |                  2 | On Loan: No      |
| CommonSpirit Health                                     | CommonSpirit Health                                                                 | CUSIP: 20268JAY9<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |    1080000 | PA      | $1077299.75   | 0.12%             | 2030-09-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | CDI                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        |   44185000 | PA      | $34967.02     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Extra Space Storage LP                                  | Extra Space Storage LP                                                              | CUSIP: 30225VAH0<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |     430000 | PA      | $423938.84    | 0.05%             | 2029-04-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Macquarie Airfinance Holdings Ltd.                      | Macquarie Airfinance Holdings Ltd.                                                  | CUSIP: 55609NAC2<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |     185000 | PA      | $194459.56    | 0.02%             | 2029-03-26      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                              | Verus Securitization Trust, Series 2024-5, Class A1                                 | CUSIP: 92540HAA4<br>LEI: 213800YE6HC7EZSFHW30 | Long             | ABS-MBS          | CORP              | US        |     651140 | PA      | $659639.56    | 0.07%             | 2069-06-25      | Variable      | 6.19%                 | Yes           |                  2 | On Loan: No      |
| Octagon 57 Ltd.                                         | Octagon 57 Ltd., Series 2021-1A, Class B1R                                          | CUSIP: 67592XAQ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    3930000 | PA      | $3931874.61   | 0.42%             | 2034-10-15      | Floating      | 5.34%                 | Yes           |                  2 | On Loan: No      |
| Boeing Co. (The)                                        | Boeing Co. (The)                                                                    | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     840000 | PA      | $864055.24    | 0.09%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: —       |
| N/A                                                     | SOP                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |  -18800000 | PA      | $-11717.01    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Willis North America, Inc.                              | Willis North America, Inc.                                                          | CUSIP: 970648AG6<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |     250000 | PA      | $251742.25    | 0.03%             | 2028-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                               | HCA, Inc.                                                                           | CUSIP: 404119BX6<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     270000 | PA      | $268097.23    | 0.03%             | 2029-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Republic of Panama                                      | Republic of Panama                                                                  | CUSIP: 698299BL7<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |     500000 | PA      | $338000.00    | 0.04%             | 2060-07-23      | Fixed         | 3.87%                 | No            |                  2 | On Loan: No      |
| BFLD Commercial Mortgage Trust                          | BFLD Commercial Mortgage Trust, Series 2025-660F, Class B                           | CUSIP: 05556QAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3000000 | PA      | $3003750.00   | 0.32%             | 2042-11-15      | Floating      | 5.82%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        | 2373000000 | PA      | $64381.30     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Securities Trust              | JPMDB Commercial Mortgage Securities Trust, Series 2017-C7, Class A5                | CUSIP: 46648KAU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     500000 | PA      | $489282.65    | 0.05%             | 2050-10-15      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810TG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    2500000 | PA      | $1802832.03   | 0.19%             | 2052-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Chase Commercial Mortgage Securities Trust  | J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2024-OMNI, Class A   | CUSIP: 46593JAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1500000 | PA      | $1526264.10   | 0.16%             | 2039-10-05      | Variable      | 5.80%                 | Yes           |                  2 | On Loan: No      |
| Devon Energy Corp.                                      | Devon Energy Corp.                                                                  | CUSIP: 25179MBE2<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |    1450000 | PA      | $1450131.52   | 0.16%             | 2028-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| Bank of America Corp.                                   | Bank of America Corp.                                                               | CUSIP: 06051GGF0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     500000 | PA      | $498043.78    | 0.05%             | 2028-01-20      | Variable      | 3.82%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140XFEU1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1236993 | PA      | $1181513.02   | 0.13%             | 2043-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                   | Bank of America Corp.                                                               | CUSIP: 06051GKC2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    1209000 | PA      | $1053487.48   | 0.11%             | 2036-09-21      | Variable      | 2.48%                 | No            |                  2 | On Loan: No      |
| Agilent Technologies, Inc.                              | Agilent Technologies, Inc.                                                          | CUSIP: 00846UAL5<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |     250000 | PA      | $237034.27    | 0.03%             | 2029-09-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: —       |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    3220000 | PA      | $3210.64      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810SK5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    3600000 | PA      | $2381765.62   | 0.25%             | 2049-11-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                | COLT Mortgage Loan Trust, Series 2021-2, Class A1                                   | CUSIP: 19685WAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |          0 | PA      | $0.00         | 0.00%             | 2066-08-25      | Variable      | 0.92%                 | Yes           |                  2 | On Loan: No      |
| Trinity Acquisition plc                                 | Trinity Acquisition plc                                                             | CUSIP: 89641UAC5<br>LEI: 549300FJZWZN6MJNGB63 | Long             | DBT              | CORP              | GB        |     250000 | PA      | $250050.84    | 0.03%             | 2026-03-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Campbell's Co. (The)                                    | Campbell's Co. (The)                                                                | CUSIP: 134429BQ1<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |     508000 | PA      | $492843.94    | 0.05%             | 2035-03-23      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| Carlyle US CLO Ltd.                                     | Carlyle US CLO Ltd., Series 2024-2A, Class B                                        | CUSIP: 14318VAC3<br>LEI: 254900ZRCTSW8R4GLC69 | Long             | ABS-CBDO         | CORP              | KY        |    2600000 | PA      | $2608613.80   | 0.28%             | 2037-04-25      | Floating      | 5.91%                 | Yes           |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                            | Avolon Holdings Funding Ltd.                                                        | CUSIP: 05401AAX9<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |     328000 | PA      | $332971.76    | 0.04%             | 2030-01-15      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                               | Towd Point Mortgage Trust, Series 2020-1, Class A2A                                 | CUSIP: 89178WBB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     770000 | PA      | $713212.73    | 0.08%             | 2060-01-25      | Variable      | 3.10%                 | Yes           |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                | Benchmark Mortgage Trust, Series 2024-V8, Class A3                                  | CUSIP: 08190AAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1050000 | PA      | $1109490.69   | 0.12%             | 2057-07-15      | Variable      | 6.19%                 | No            |                  2 | On Loan: No      |
| Sunnova Hestia I Issuer LLC                             | Sunnova Hestia I Issuer LLC, Series 2023-GRID1, Class 1A                            | CUSIP: 86746BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     240950 | PA      | $243201.30    | 0.03%             | 2050-12-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                    | JPMorgan Chase & Co.                                                                | CUSIP: 46647PBP0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     400000 | PA      | $376087.86    | 0.04%             | 2031-05-13      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| BAT International Finance plc                           | BAT International Finance plc                                                       | CUSIP: 05530QAP5<br>LEI: 21380041YBGOQDFAC823 | Long             | DBT              | CORP              | GB        |     325000 | PA      | $326799.40    | 0.03%             | 2028-03-16      | Fixed         | 4.45%                 | No            |                  2 | On Loan: —       |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3133AWWM2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     319100 | PA      | $262622.20    | 0.03%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                        | Boeing Co. (The)                                                                    | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    1145000 | PA      | $1303247.16   | 0.14%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140J6GR2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     197786 | PA      | $191273.79    | 0.02%             | 2048-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PeaceHealth Obligated Group                             | PeaceHealth Obligated Group                                                         | CUSIP: 70462GAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     855000 | PA      | $859633.08    | 0.09%             | 2028-11-15      | Fixed         | 4.33%                 | No            |                  2 | On Loan: —       |
| Alcon Finance Corp.                                     | Alcon Finance Corp.                                                                 | CUSIP: 01400EAB9<br>LEI: 549300CUZUI9VU7XNK42 | Long             | DBT              | CORP              | US        |     562000 | PA      | $535685.13    | 0.06%             | 2029-09-23      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Fortinet, Inc.                                          | Fortinet, Inc.                                                                      | CUSIP: 34959EAA7<br>LEI: 549300O0QJWDBAS0QX03 | Long             | DBT              | CORP              | US        |     650000 | PA      | $641638.93    | 0.07%             | 2026-03-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Quanta Services, Inc.                                   | Quanta Services, Inc.                                                               | CUSIP: 74762EAL6<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |     972000 | PA      | $1000066.14   | 0.11%             | 2034-08-09      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Wells Fargo & Co.                                       | Wells Fargo & Co.                                                                   | CUSIP: 95000U3B7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     366000 | PA      | $371526.05    | 0.04%             | 2033-07-25      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | SOP                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |    9190000 | PA      | $52103.62     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3133AAKC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     105893 | PA      | $86745.18     | 0.01%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |     160000 | PA      | $2823.07      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Invitation Homes Operating Partnership LP               | Invitation Homes Operating Partnership LP                                           | CUSIP: 46188BAA0<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              | CORP              | US        |     900000 | PA      | $779273.06    | 0.08%             | 2031-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Notes                                                                 | CUSIP: 91282CKN0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   18020000 | PA      | $18788665.63  | 2.01%             | 2031-04-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                           | UMBS, 30 Year, Single Family                                                        | CUSIP: 01F0426B4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    9000000 | PA      | $8771593.23   | 0.94%             | 2055-11-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Republic of Peru                                        | Republic of Peru                                                                    | CUSIP: 715638EB4<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     100000 | PA      | $102651.00    | 0.01%             | 2035-02-08      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Brookfield Finance, Inc.                                | Brookfield Finance, Inc.                                                            | CUSIP: 11271LAD4<br>LEI: 549300XH8D8K6OYWGD17 | Long             | DBT              | CORP              | CA        |     300000 | PA      | $305244.00    | 0.03%             | 2029-03-29      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | U.S. Treasury 10 Year Note                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        470 | NC      | $288925.04    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Credit Account Master Trust            | American Express Credit Account Master Trust, Series 2025-3, Class A                | CUSIP: 02582JKR0<br>LEI: 549300Y4SA5G3GIJTP18 | Long             | ABS-O            | CORP              | US        |    3025000 | PA      | $3091326.76   | 0.33%             | 2032-04-15      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| Adventist Health System                                 | Adventist Health System                                                             | CUSIP: 007944AK7<br>LEI: 5493008YM33UCY5QPW83 | Long             | DBT              | CORP              | US        |     645000 | PA      | $667327.43    | 0.07%             | 2034-12-01      | Fixed         | 5.76%                 | No            |                  2 | On Loan: —       |
| CommonSpirit Health                                     | CommonSpirit Health                                                                 | CUSIP: 20268JBD4<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |    1645000 | PA      | $1636773.26   | 0.18%             | 2035-09-01      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3132DNU27<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     955172 | PA      | $910921.14    | 0.10%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    4660000 | PA      | $35359.27     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Comcast Corp.                                           | Comcast Corp.                                                                       | CUSIP: 20030NDH1<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     750000 | PA      | $623152.66    | 0.07%             | 2040-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140QMAF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2840378 | PA      | $2461878.29   | 0.26%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                   | FHLMC Multifamily Structured Pass-Through Certificates, Series K126, Class A2       | CUSIP: 3137FXYV4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1000000 | PA      | $908536.40    | 0.10%             | 2031-01-25      | Fixed         | 2.07%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    4260000 | PA      | $29639.80     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Discover Card Execution Note Trust                      | Discover Card Execution Note Trust, Series 2023-A1, Class A                         | CUSIP: 254683CY9<br>LEI: 549300CKCX1QE4RUW216 | Long             | ABS-O            | CORP              | US        |    2300000 | PA      | $2301293.06   | 0.25%             | 2028-03-15      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper, Inc.                                  | Keurig Dr Pepper, Inc.                                                              | CUSIP: 49271VAJ9<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |     470000 | PA      | $444866.75    | 0.05%             | 2030-05-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                     | Connecticut Avenue Securities Trust, Series 2024-R03, Class 2M2                     | CUSIP: 207941AB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     675000 | PA      | $679218.75    | 0.07%             | 2044-03-25      | Floating      | 6.13%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                   | Bank of America Corp.                                                               | CUSIP: 06051GLG2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    2745000 | PA      | $2811331.42   | 0.30%             | 2029-04-25      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140QDV27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1904169 | PA      | $1650419.27   | 0.18%             | 2050-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                           | UMBS, 30 Year, Single Family                                                        | CUSIP: 01F0606B6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    7000000 | PA      | $7157898.79   | 0.77%             | 2055-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179XDA1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     358744 | PA      | $312089.40    | 0.03%             | 2052-08-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | 3 Month SONIA                                                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |         40 | NC      | $16128.02     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Commonwealth of Massachusetts                           | Commonwealth of Massachusetts, Series A                                             | CUSIP: 57582PUT5<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |     100000 | PA      | $101857.02    | 0.01%             | 2029-05-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| OBX Trust                                               | OBX Trust, Series 2025-NQM11, Class A1A                                             | CUSIP: 67449BAL7<br>LEI: 254900KNWDG7C03UTA13 | Long             | ABS-MBS          | CORP              | US        |    2393115 | PA      | $2407331.30   | 0.26%             | 2065-05-25      | Variable      | 5.42%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | U.S. Treasury 5 Year Note                                                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        257 | NC      | $30706.20     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Pernod Ricard International Finance LLC                 | Pernod Ricard International Finance LLC                                             | CUSIP: 71427QAB4<br>LEI: 5493009254WI1A8WXT48 | Long             | DBT              | CORP              | US        |    1780000 | PA      | $1540309.92   | 0.16%             | 2031-04-01      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| Camden Property Trust                                   | Camden Property Trust                                                               | CUSIP: 133131AX0<br>LEI: 5493002MYX22OHYJBD89 | Long             | DBT              | CORP              | US        |     100000 | PA      | $96325.99     | 0.01%             | 2029-07-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: —       |
| Singapore Dollar                                        | Singapore Dollar                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | SG        |          0 | OU      | $0.38         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FactSet Research Systems, Inc.                          | FactSet Research Systems, Inc.                                                      | CUSIP: 303075AA3<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | DBT              | CORP              | US        |     925000 | PA      | $909007.90    | 0.10%             | 2027-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    6430000 | PA      | $4990.04      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Atmos Energy Corp.                                      | Atmos Energy Corp.                                                                  | CUSIP: 049560AN5<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | DBT              | CORP              | US        |      50000 | PA      | $49305.87     | 0.01%             | 2027-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                          | Enbridge, Inc.                                                                      | CUSIP: 29250NBF1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     925000 | PA      | $788681.56    | 0.08%             | 2033-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: —       |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    5816190 | PA      | $12588.68     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                | BX Trust, Series 2024-BIO, Class A                                                  | CUSIP: 05612AAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1100000 | PA      | $1097937.50   | 0.12%             | 2041-02-15      | Floating      | 5.67%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    3090000 | PA      | $-12645.22    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| National Rural Utilities Cooperative Finance Corp.      | National Rural Utilities Cooperative Finance Corp.                                  | CUSIP: 637432NW1<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |     100000 | PA      | $85937.89     | 0.01%             | 2031-03-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   28160000 | PA      | $113637.80    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                   | Ashtead Capital, Inc.                                                               | CUSIP: 045054AS2<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |     502000 | PA      | $525631.20    | 0.06%             | 2034-04-15      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179XS98<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    3941878 | PA      | $3635204.31   | 0.39%             | 2053-02-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140QSSK8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   20157456 | PA      | $20451432.78  | 2.19%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140L5BW5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     579450 | PA      | $503883.26    | 0.05%             | 2051-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Venture 38 CLO Ltd.                                     | Venture 38 CLO Ltd., Series 2019-38A, Class ARR                                     | CUSIP: 92332NBC8<br>LEI: 549300EM6DS6KQH1HN07 | Long             | ABS-CBDO         | CORP              | KY        |    3474811 | PA      | $3475769.74   | 0.37%             | 2032-07-30      | Floating      | 4.84%                 | Yes           |                  2 | On Loan: No      |
| Humana, Inc.                                            | Humana, Inc.                                                                        | CUSIP: 444859BY7<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |     325000 | PA      | $342640.43    | 0.04%             | 2034-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140QPE86<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1982313 | PA      | $1824884.21   | 0.20%             | 2037-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                          | Morgan Stanley Capital I Trust, Series 2017-H1, Class AS                            | CUSIP: 61691JAY0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     500000 | PA      | $489760.65    | 0.05%             | 2050-06-15      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | Euro-Schatz                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |          1 | NC      | $-49.04       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140LQPU8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3641511 | PA      | $3353309.24   | 0.36%             | 2037-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |  704740000 | PA      | $-180906.28   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| EQT Corp.                                               | EQT Corp.                                                                           | CUSIP: 26884LAL3<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     810000 | PA      | $819825.01    | 0.09%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                          | Morgan Stanley                                                                      | CUSIP: 61747YGA7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     895000 | PA      | $942418.00    | 0.10%             | 2036-04-17      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| DuPont de Nemours, Inc.                                 | DuPont de Nemours, Inc.                                                             | CUSIP: 26078JAC4<br>LEI: 5493004JF0SDFLM8GD76 | Long             | DBT              | CORP              | US        |     150000 | PA      | $149968.93    | 0.02%             | 2025-11-15      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140QTNV7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    7797318 | PA      | $7982266.03   | 0.85%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 21H0206B6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    2000000 | PA      | $1663057.44   | 0.18%             | 2055-11-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   12810000 | PA      | $-2020.60     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                       | Lowe's Cos., Inc.                                                                   | CUSIP: 548661DY0<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     925000 | PA      | $816110.99    | 0.09%             | 2030-10-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | SOP                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |    2200000 | PA      | $9411.34      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NXP BV                                                  | NXP BV                                                                              | CUSIP: 62954HBA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     400000 | PA      | $360514.12    | 0.04%             | 2031-05-11      | Fixed         | 2.50%                 | No            |                  2 | On Loan: —       |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140FPFQ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     719418 | PA      | $694478.79    | 0.07%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAREX CAPITAL MARKETS INC                               | Treasury Repurchase Agreement                                                       | CUSIP: N/A<br>LEI: 5493006BWPDUCYG6EQ34       | Long             | RA               | CORP              | US        |    3000000 | PA      | $3000000.00   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Diameter Capital CLO 4 Ltd.                             | Diameter Capital CLO 4 Ltd., Series 2022-4A, Class A1R                              | CUSIP: 25255NAQ1<br>LEI: 25490087B17FBD0ODC27 | Long             | ABS-CBDO         | CORP              | KY        |    2000000 | PA      | $2006384.00   | 0.21%             | 2037-01-15      | Floating      | 5.73%                 | Yes           |                  2 | On Loan: No      |
| EQT Corp.                                               | EQT Corp.                                                                           | CUSIP: 26884LAF6<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     650000 | PA      | $645107.21    | 0.07%             | 2027-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                   | FHLMC STACR REMIC Trust, Series 2024-HQA1, Class A1                                 | CUSIP: 35564NBW2<br>LEI: 529900PGKDI4ZEXFQ523 | Long             | ABS-MBS          | CORP              | US        |          0 | PA      | $0.05         | 0.00%             | 2044-03-25      | Floating      | 5.43%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    4980000 | PA      | $32023.83     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   37890000 | PA      | $149379.37    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810QY7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    3050000 | PA      | $2381621.11   | 0.25%             | 2042-11-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Province of Ontario Canada                              | Province of Ontario                                                                 | CUSIP: 68323AFF6<br>LEI: C7PVKCRGLG18EBQGZV36 | Long             | DBT              | NUSS              | CA        |      45000 | PA      | $44540.85     | 0.00%             | 2026-06-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                | BX Trust, Series 2025-ROIC, Class A                                                 | CUSIP: 05593VAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    4582129 | PA      | $4572105.59   | 0.49%             | 2030-03-15      | Floating      | 5.18%                 | Yes           |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                | Celanese US Holdings LLC                                                            | CUSIP: 15089QAK0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     230000 | PA      | $224050.26    | 0.02%             | 2026-08-05      | Fixed         | 1.40%                 | No            |                  2 | On Loan: —       |
| HCA, Inc.                                               | HCA, Inc.                                                                           | CUSIP: 404119CT4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    2115000 | PA      | $2201280.05   | 0.24%             | 2031-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3133KQDS2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1074018 | PA      | $1117603.13   | 0.12%             | 2052-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |  100000000 | PA      | $-90192.46    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179WR42<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    2158969 | PA      | $1988767.06   | 0.21%             | 2051-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BBCMS Mortgage Trust                                    | BBCMS Mortgage Trust, Series 2024-C24, Class A5                                     | CUSIP: 07336VAU5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1075000 | PA      | $1124694.13   | 0.12%             | 2057-02-15      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140X9D77<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3399438 | PA      | $2899439.48   | 0.31%             | 2051-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                   | FHLMC Multifamily Structured Pass-Through Certificates, Series K544, Class A2       | CUSIP: 3137HMCE8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    3350000 | PA      | $3381517.14   | 0.36%             | 2030-07-25      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| Intel Corp.                                             | Intel Corp.                                                                         | CUSIP: 458140CG3<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |     900000 | PA      | $916593.81    | 0.10%             | 2033-02-10      | Fixed         | 5.20%                 | No            |                  2 | On Loan: —       |
| Wisconsin Power and Light Co.                           | Wisconsin Power and Light Co.                                                       | CUSIP: 976826BP1<br>LEI: JWBYHVQVMY66CVCOSO49 | Long             | DBT              | CORP              | US        |      35000 | PA      | $30411.33     | 0.00%             | 2031-09-16      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.                         | Regeneron Pharmaceuticals, Inc.                                                     | CUSIP: 75886FAE7<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | DBT              | CORP              | US        |     321000 | PA      | $284744.39    | 0.03%             | 2030-09-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    7790000 | PA      | $103611.94    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                     | Connecticut Avenue Securities Trust, Series 2024-R01, Class 1M2                     | CUSIP: 20753UAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     600000 | PA      | $604135.68    | 0.06%             | 2044-01-25      | Floating      | 5.98%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140XDRN8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1312948 | PA      | $1138021.40   | 0.12%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810RV2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |       4700 | PA      | $3628.18      | 0.00%             | 2047-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140QHE27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1643358 | PA      | $1554813.64   | 0.17%             | 2036-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                   | Wells Fargo Commercial Mortgage Trust, Series 2024-MGP, Class A12                   | CUSIP: 95003TAS2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1800000 | PA      | $1797237.54   | 0.19%             | 2041-08-15      | Floating      | 5.72%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    5860000 | PA      | $92301.10     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179WTY4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    8840305 | PA      | $7655120.98   | 0.82%             | 2051-12-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Park Blue CLO 2022-II Ltd.                              | Park Blue CLO II Ltd., Series 2022-2A, Class A1R                                    | CUSIP: 70018CAQ9<br>LEI: 2138008W8XU9WO8BZO09 | Long             | ABS-CBDO         | CORP              | KY        |    1450000 | PA      | $1453574.25   | 0.16%             | 2037-07-20      | Floating      | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Capital One Financial Corp.                             | Capital One Financial Corp.                                                         | CUSIP: 14040HBK0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     550000 | PA      | $548035.13    | 0.06%             | 2026-07-28      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                             | Amgen, Inc.                                                                         | CUSIP: 031162DQ0<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |     973000 | PA      | $1009854.55   | 0.11%             | 2030-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Hewlett Packard Enterprise Co.                          | Hewlett Packard Enterprise Co.                                                      | CUSIP: 42824CBV0<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |     856000 | PA      | $846970.23    | 0.09%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust              | JPMBB Commercial Mortgage Securities Trust, Series 2015-C30, Class AS               | CUSIP: 46644UBE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     484467 | PA      | $472370.11    | 0.05%             | 2048-07-15      | Variable      | 4.23%                 | No            |                  2 | On Loan: No      |
| Constellation Brands, Inc.                              | Constellation Brands, Inc.                                                          | CUSIP: 21036PBB3<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |     800000 | PA      | $799769.07    | 0.09%             | 2025-11-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140QNW65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1569805 | PA      | $1393993.47   | 0.15%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    2350000 | PA      | $-1271.70     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK                                                    | BANK, Series 2021-BN31, Class AS                                                    | CUSIP: 06541ABP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3374301 | PA      | $2927422.07   | 0.31%             | 2054-02-15      | Variable      | 2.21%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK SECURITIES INC.                           | Treasury Repurchase Agreement                                                       | CUSIP: N/A<br>LEI: 9J6MBOOO7BECTDTUZW19       | Long             | RA               | CORP              | US        |     167205 | PA      | $167205.00    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | SOP                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |    -860000 | PA      | $-37297.26    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Peru                                        | Republic of Peru                                                                    | CUSIP: 715638FC1<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     510000 | PA      | $522214.50    | 0.06%             | 2036-03-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | Euro-Bund                                                                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |         18 | NC      | $-14312.69    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Laboratory Corp. of America Holdings                    | Laboratory Corp. of America Holdings                                                | CUSIP: 50540RBB7<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |     463000 | PA      | $458921.74    | 0.05%             | 2034-10-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3133KQK88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1449026 | PA      | $1499323.13   | 0.16%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                      | General Motors Financial Co., Inc.                                                  | CUSIP: 37046UAS0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | STIV             | CORP              | US        |    4697000 | PA      | $4649649.07   | 0.50%             | 2026-01-26      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   29310000 | PA      | $-130158.10   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810SS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    7000000 | PA      | $3805703.16   | 0.41%             | 2050-11-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3132DNRD7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     288823 | PA      | $250481.31    | 0.03%             | 2050-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3133A9HE8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     144097 | PA      | $118010.49    | 0.01%             | 2050-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                      | Southern Co. (The), Series 21-B                                                     | CUSIP: 842587DH7<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |     550000 | PA      | $520563.00    | 0.06%             | 2028-03-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch Cos. LLC                                 | Anheuser-Busch Cos. LLC                                                             | CUSIP: 03522AAH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     715000 | PA      | $707923.55    | 0.08%             | 2036-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| GMF Floorplan Owner Revolving Trust                     | GMF Floorplan Owner Revolving Trust, Series 2023-1, Class A1                        | CUSIP: 361886CR3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    2200000 | PA      | $2215909.52   | 0.24%             | 2028-06-15      | Fixed         | 5.34%                 | Yes           |                  2 | On Loan: No      |
| Arizona Public Service Co.                              | Arizona Public Service Co.                                                          | CUSIP: 040555DD3<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |     210000 | PA      | $184327.88    | 0.02%             | 2031-12-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    1990000 | PA      | $1985.54      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth Edison Co.                                 | Commonwealth Edison Co.                                                             | CUSIP: 202795JR2<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |     149000 | PA      | $137747.08    | 0.01%             | 2030-03-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Notes                                                                 | CUSIP: 91282CCE9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   31280000 | PA      | $29485065.70  | 3.15%             | 2028-05-31      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810SA7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   11820000 | PA      | $9021522.69   | 0.97%             | 2048-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3132DVMU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    7560622 | PA      | $8007048.94   | 0.86%             | 2054-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Halseypoint CLO 7 Ltd.                                  | Halseypoint CLO 7 Ltd., Series 2023-7A, Class A1R                                   | CUSIP: 40638LAL3<br>LEI: 5493000LI3XMVBCJEF82 | Long             | ABS-CBDO         | CORP              | JE        |    4000000 | PA      | $4019648.00   | 0.43%             | 2038-07-20      | Floating      | 5.33%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                   | FHLMC Multifamily Structured Pass-Through Certificates, Series K077, Class A2       | CUSIP: 3137FG6X8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    2000000 | PA      | $1996176.00   | 0.21%             | 2028-05-25      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        | 1736607845 | PA      | $-208219.64   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   24410000 | PA      | $153811.66    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179XBT2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     395987 | PA      | $377895.62    | 0.04%             | 2052-07-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    7200000 | PA      | $-12347.52    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    5130000 | PA      | $10229.44     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Steel Dynamics, Inc.                                    | Steel Dynamics, Inc.                                                                | CUSIP: 858119BK5<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |     730000 | PA      | $703856.34    | 0.08%             | 2030-04-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Kyndryl Holdings, Inc.                                  | Kyndryl Holdings, Inc.                                                              | CUSIP: 50155QAJ9<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |       5000 | PA      | $4894.07      | 0.00%             | 2026-10-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Regal Rexnord Corp.                                     | Regal Rexnord Corp.                                                                 | CUSIP: 758750AN3<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    1286000 | PA      | $1361148.61   | 0.15%             | 2030-02-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179XLG9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   14553074 | PA      | $14305860.43  | 1.53%             | 2052-11-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140L6P99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      59636 | PA      | $48974.32     | 0.01%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    7220000 | PA      | $-20332.99    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140XDQC3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     140088 | PA      | $115294.77    | 0.01%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   22210000 | PA      | $15213.56     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Neuberger Berman Loan Advisers CLO 50 Ltd.              | Neuberger Berman Loan Advisers CLO 50 Ltd., Series 2022-50A, Class AR               | CUSIP: 64134VAQ9<br>LEI: 549300UMYON6L2REF246 | Long             | ABS-CBDO         | CORP              | JE        |    2450000 | PA      | $2450463.05   | 0.26%             | 2036-07-23      | Floating      | 5.11%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   10710000 | PA      | $100916.84    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Oncor Electric Delivery Co. LLC                         | Oncor Electric Delivery Co. LLC                                                     | CUSIP: 68233JCK8<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |     160000 | PA      | $160245.56    | 0.02%             | 2032-09-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust                           | NYC Commercial Mortgage Trust, Series 2025-11X, Class A                             | CUSIP: 67122NAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1800000 | PA      | $1800000.00   | 0.19%             | 2040-10-15      | Floating      | 5.74%                 | Yes           |                  2 | On Loan: No      |
| Province of Quebec Canada                               | Province of Quebec                                                                  | CUSIP: 748149AN1<br>LEI: 549300WN65YFEQH74Y36 | Long             | DBT              | NUSS              | CA        |      25000 | PA      | $24624.88     | 0.00%             | 2027-04-12      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Extra Space Storage LP                                  | Extra Space Storage LP                                                              | CUSIP: 30225VAM9<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |     300000 | PA      | $297808.64    | 0.03%             | 2027-12-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                             | Amgen, Inc.                                                                         | CUSIP: 031162DR8<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    1461000 | PA      | $1512821.58   | 0.16%             | 2033-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                   | FHLMC Multifamily Structured Pass-Through Certificates, Series K086, Class A2       | CUSIP: 3137FKSH0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1000000 | PA      | $999312.80    | 0.11%             | 2028-11-25      | Variable      | 3.86%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140QDVN1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1673565 | PA      | $1495644.53   | 0.16%             | 2050-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Reliance, Inc.                                          | Reliance, Inc.                                                                      | CUSIP: 759509AG7<br>LEI: 549300E287ZOFT3C5Z56 | Long             | DBT              | CORP              | US        |     620000 | PA      | $559616.15    | 0.06%             | 2030-08-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: —       |
| Chubb Corp. (The)                                       | Chubb Corp. (The)                                                                   | CUSIP: 171232AE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     549000 | PA      | $615043.90    | 0.07%             | 2031-11-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3133AAQB1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     775551 | PA      | $634664.74    | 0.07%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Sound Point Euro CLO 14 Funding DAC                     | Sound Point Euro CLO 14 Funding DAC, Series 14A, Class B                            | CUSIP: N/A<br>LEI: 635400MRPPDDKPZD8B91       | Long             | ABS-CBDO         | CORP              | IE        |    1400000 | PA      | $1595570.29   | 0.17%             | 2039-04-20      | Floating      | 3.60%                 | Yes           |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                               | Williams Cos., Inc. (The)                                                           | CUSIP: 969457BZ2<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    1000000 | PA      | $997624.42    | 0.11%             | 2032-08-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: —       |
| Synopsys, Inc.                                          | Synopsys, Inc.                                                                      | CUSIP: 871607AD9<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |     948000 | PA      | $967945.35    | 0.10%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Interstate Power and Light Co.                          | Interstate Power and Light Co.                                                      | CUSIP: 461070AP9<br>LEI: EF9UQIIO4KY2BWOK3P26 | Long             | DBT              | CORP              | US        |     100000 | PA      | $99874.59     | 0.01%             | 2028-09-26      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                   | FHLMC STACR Trust, Series 2019-HQA2, Class M2                                       | CUSIP: 35564MAH8<br>LEI: 549300NKHCH87PYOHD44 | Long             | ABS-MBS          | CORP              | US        |     507423 | PA      | $515505.25    | 0.06%             | 2049-04-25      | Floating      | 6.35%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                    | FNMA ACES, Series 2022-M1, Class A2                                                 | CUSIP: 3136BKX80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1000000 | PA      | $865682.30    | 0.09%             | 2031-10-25      | Variable      | 1.67%                 | No            |                  2 | On Loan: No      |
| AutoNation, Inc.                                        | AutoNation, Inc.                                                                    | CUSIP: 05329WAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     575000 | PA      | $576827.91    | 0.06%             | 2030-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |      10000 | PA      | $-4.49        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                          | Broadcom, Inc.                                                                      | CUSIP: 11135FCP4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     625000 | PA      | $596679.39    | 0.06%             | 2028-02-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                       | BAT Capital Corp.                                                                   | CUSIP: 05526DBB0<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     300000 | PA      | $297067.11    | 0.03%             | 2027-08-15      | Fixed         | 3.56%                 | No            |                  2 | On Loan: —       |
| Verus Securitization Trust                              | Verus Securitization Trust, Series 2021-7, Class A1                                 | CUSIP: 92538QAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1967047 | PA      | $1801693.86   | 0.19%             | 2066-10-25      | Variable      | 1.83%                 | Yes           |                  2 | On Loan: No      |
| POSCO                                                   | POSCO                                                                               | CUSIP: 73730EAD5<br>LEI: 9884000N94NH7G6LQ816 | Long             | DBT              | CORP              | KR        |     350000 | PA      | $360642.02    | 0.04%             | 2028-01-17      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Polish Zloty - New                                      | Polish Zloty - New                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | PL        |          1 | OU      | $0.19         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   18690000 | PA      | $-18512.14    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AB BSL CLO 1 Ltd.                                       | AB BSL CLO 1 Ltd., Series 2020-1A, Class A1R                                        | CUSIP: 00038KAN1<br>LEI: 549300UT754V8VGM9T25 | Long             | ABS-CBDO         | CORP              | KY        |     635000 | PA      | $635444.50    | 0.07%             | 2035-01-15      | Floating      | 5.27%                 | Yes           |                  2 | On Loan: No      |
| FNMA or FHLMC                                           | UMBS, 30 Year, Single Family                                                        | CUSIP: 01F0226B6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    4000000 | PA      | $3395465.84   | 0.36%             | 2055-11-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Constellation Software, Inc.                            | Constellation Software, Inc.                                                        | CUSIP: 21037XAD2<br>LEI: 549300B6PYHMCTDWQV29 | Long             | DBT              | CORP              | CA        |     622000 | PA      | $630885.86    | 0.07%             | 2034-02-16      | Fixed         | 5.46%                 | Yes           |                  2 | On Loan: No      |
| State Board of Administration Finance Corp.             | State Board of Administration Finance Corp., Series A                               | CUSIP: 341271AF1<br>LEI: 549300S34SOJ0RULXM35 | Long             | DBT              | MUN               | US        |      75000 | PA      | $68921.74     | 0.01%             | 2030-07-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36178YCG8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     494629 | PA      | $462777.81    | 0.05%             | 2042-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities                           | Connecticut Avenue Securities, Series 2025-R01, Class 1M2                           | CUSIP: 20755JAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1000000 | PA      | $1000309.00   | 0.11%             | 2045-01-25      | Floating      | 5.68%                 | Yes           |                  2 | On Loan: No      |
| Tucson Electric Power Co.                               | Tucson Electric Power Co.                                                           | CUSIP: 898813AS9<br>LEI: YLF139GXSRKPBBTNZL03 | Long             | DBT              | CORP              | US        |     100000 | PA      | $88263.15     | 0.01%             | 2030-08-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Choice Hotels International, Inc.                       | Choice Hotels International, Inc.                                                   | CUSIP: 169905AH9<br>LEI: 5493003CYRY5RFGTIR97 | Long             | DBT              | CORP              | US        |     713000 | PA      | $725116.84    | 0.08%             | 2034-08-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Allegion US Holding Co., Inc.                           | Allegion US Holding Co., Inc.                                                       | CUSIP: 01748NAE4<br>LEI: 5493002B66JX7J7SXI33 | Long             | DBT              | CORP              | US        |      60000 | PA      | $59301.77     | 0.01%             | 2027-10-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Western Midstream Operating LP                          | Western Midstream Operating LP                                                      | CUSIP: 958254AD6<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |     975000 | PA      | $879784.87    | 0.09%             | 2044-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: —       |
| FNMA                                                    | UMBS                                                                                | CUSIP: 31418DUG5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    9275665 | PA      | $7598427.49   | 0.81%             | 2050-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140QS5D9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1406399 | PA      | $1463665.50   | 0.16%             | 2053-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Province of British Columbia Canada                     | Province of British Columbia                                                        | CUSIP: 110709AE2<br>LEI: 54930058TO7MEKUHWL16 | Long             | DBT              | NUSS              | CA        |      25000 | PA      | $21904.30     | 0.00%             | 2031-01-29      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                       | BAT Capital Corp.                                                                   | CUSIP: 05526DBX2<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     110000 | PA      | $128219.87    | 0.01%             | 2032-10-19      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| AerCap Ireland Capital DAC                              | AerCap Ireland Capital DAC                                                          | CUSIP: 00774MAX3<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |     764000 | PA      | $705058.39    | 0.08%             | 2032-01-30      | Fixed         | 3.30%                 | No            |                  2 | On Loan: —       |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   18700000 | PA      | $2633.98      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Co.                                   | Saudi Arabian Oil Co.                                                               | CUSIP: 80414L2P9<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | NUSS              | SA        |     200000 | PA      | $200984.00    | 0.02%             | 2054-07-17      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                   | Bank of America Corp.                                                               | CUSIP: 06051GMM8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    1000000 | PA      | $1046927.61   | 0.11%             | 2036-01-24      | Variable      | 5.51%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bond                                                                  | CUSIP: 912810UF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   12500000 | PA      | $12484863.25  | 1.34%             | 2044-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140XJZE6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1428003 | PA      | $1484142.41   | 0.16%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp.                     | Maryland Economic Development Corp.                                                 | CUSIP: 574205JA9<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |     490000 | PA      | $504086.81    | 0.05%             | 2032-11-30      | Fixed         | 4.97%                 | 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        |       -147 | NC      | $-219872.89   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   21130000 | PA      | $-172.18      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EURO                                                    | EURO                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | XX        |      30434 | OU      | $35079.35     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                                    | Meta Platforms, Inc.                                                                | CUSIP: 30303MAD4<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    1675000 | PA      | $1682405.73   | 0.18%             | 2035-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | IRS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    3530000 | PA      | $-4870.46     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                         | Citigroup, Inc.                                                                     | CUSIP: 172967PU9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     825000 | PA      | $863107.48    | 0.09%             | 2036-01-24      | Variable      | 6.02%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 31418DVC3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     410171 | PA      | $349655.21    | 0.04%             | 2050-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   11840000 | PA      | $2846.66      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                           | UMBS, 30 Year, Single Family                                                        | CUSIP: 01F0326B5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1000000 | PA      | $921861.11    | 0.10%             | 2055-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                    | GNMA                                                                                | CUSIP: 36179TG33<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     320984 | PA      | $292105.27    | 0.03%             | 2047-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 31418DTQ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    9464814 | PA      | $7751395.98   | 0.83%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |  126493298 | PA      | $7119.52      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cencora, Inc.                                           | Cencora, Inc.                                                                       | CUSIP: 03073EAR6<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |     100000 | PA      | $93934.70     | 0.01%             | 2030-05-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Northwest Pipeline LLC                                  | Northwest Pipeline LLC                                                              | CUSIP: 66775VAB1<br>LEI: 549300FFKMN9OW536A14 | Long             | DBT              | CORP              | US        |     275000 | PA      | $274168.93    | 0.03%             | 2027-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| Block Financial LLC                                     | Block Financial LLC                                                                 | CUSIP: 093662AJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     275000 | PA      | $261353.16    | 0.03%             | 2028-07-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 41 Ltd.                                     | Elmwood CLO 41 Ltd., Series 2025-4A, Class A                                        | CUSIP: 29005BAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    4700000 | PA      | $4711176.60   | 0.50%             | 2038-07-17      | Floating      | 5.64%                 | Yes           |                  2 | On Loan: No      |
| IDEX Corp.                                              | IDEX Corp.                                                                          | CUSIP: 45167RAH7<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | DBT              | CORP              | US        |     275000 | PA      | $250634.00    | 0.03%             | 2031-06-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: —       |
| Keurig Dr Pepper, Inc.                                  | Keurig Dr Pepper, Inc.                                                              | CUSIP: 49271VAP5<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |     573000 | PA      | $564808.65    | 0.06%             | 2029-04-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: —       |
| Targa Resources Corp.                                   | Targa Resources Corp.                                                               | CUSIP: 87612GAA9<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |     220000 | PA      | $209464.27    | 0.02%             | 2033-02-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: —       |
| Bunge Ltd. Finance Corp.                                | Bunge Ltd. Finance Corp.                                                            | CUSIP: 120568BE9<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |     792000 | PA      | $791159.46    | 0.08%             | 2029-09-17      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding LXXIII Ltd.                        | Madison Park Funding LXXIII Ltd., Series 2025-73A, Class A1                         | CUSIP: 55823HAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    4825000 | PA      | $4835132.50   | 0.52%             | 2038-10-17      | Floating      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| Royalty Pharma plc                                      | Royalty Pharma plc                                                                  | CUSIP: 78081BAR4<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    1243000 | PA      | $1270399.05   | 0.14%             | 2034-09-02      | Fixed         | 5.40%                 | No            |                  2 | On Loan: —       |
| FS KKR Capital Corp.                                    | FS KKR Capital Corp.                                                                | CUSIP: 302635AH0<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |     500000 | PA      | $483011.73    | 0.05%             | 2027-01-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp.                                        | McDonald's Corp.                                                                    | CUSIP: 58013MFP4<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |     750000 | PA      | $744044.09    | 0.08%             | 2027-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CDW LLC                                                 | CDW LLC                                                                             | CUSIP: 12513GBF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     125000 | PA      | $119755.89    | 0.01%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Bonds                                                                 | CUSIP: 912810QL5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    7250000 | PA      | $7083476.56   | 0.76%             | 2040-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                     | SOP                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |    9400000 | PA      | $29364.31     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                         | Citigroup, Inc.                                                                     | CUSIP: 17327CAQ6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    2500000 | PA      | $2284196.23   | 0.24%             | 2033-01-25      | Variable      | 3.06%                 | No            |                  2 | On Loan: No      |
| Hartwick Park CLO Ltd.                                  | Hartwick Park CLO Ltd., Series 2023-1A, Class AR                                    | CUSIP: 417403AN2<br>LEI: 2549003E1ZAWJG55NM75 | Long             | ABS-CBDO         | CORP              | JE        |    3075000 | PA      | $3074947.73   | 0.33%             | 2037-01-20      | Floating      | 5.04%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | OIS                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |   16100000 | PA      | $-65750.89    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Essential Utilities, Inc.                               | Essential Utilities, Inc.                                                           | CUSIP: 29670GAD4<br>LEI: 549300ILTEOF3E3QY357 | Long             | DBT              | CORP              | US        |      50000 | PA      | $46681.19     | 0.00%             | 2030-04-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: —       |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140XC7K8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    7197781 | PA      | $6183076.96   | 0.66%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BANK5                                                   | BANK5, Series 2025-5YR17, Class AS                                                  | CUSIP: 06211GAP1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2300000 | PA      | $2374029.87   | 0.25%             | 2058-11-15      | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                   | Bank of America Corp.                                                               | CUSIP: 06051GJZ3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    3325000 | PA      | $3156586.66   | 0.34%             | 2029-06-14      | Variable      | 2.09%                 | No            |                  2 | On Loan: No      |
| Choice Hotels International, Inc.                       | Choice Hotels International, Inc.                                                   | CUSIP: 169905AG1<br>LEI: 5493003CYRY5RFGTIR97 | Long             | DBT              | CORP              | US        |    1409000 | PA      | $1321381.19   | 0.14%             | 2031-01-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners XXI Ltd.                    | Octagon Investment Partners XXI Ltd., Series 2014-1A, Class AAR4                    | CUSIP: 67590QBW6<br>LEI: 549300XIS9D4AHDX5A35 | Long             | ABS-CBDO         | CORP              | KY        |          0 | PA      | $0.00         | 0.00%             | 2031-02-14      | Floating      | 5.04%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 31418DZW5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3594421 | PA      | $3069141.45   | 0.33%             | 2051-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Hungary                                                 | Hungary Government Bond                                                             | CUSIP: 445545AN6<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    1560000 | PA      | $1015012.46   | 0.11%             | 2051-09-21      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                              | UMBS                                                                                | CUSIP: 3132DVLY9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    7715819 | PA      | $6685967.29   | 0.72%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U.S. Treasury Notes                                                                 | CUSIP: 91282CLF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   13700000 | PA      | $13541593.75  | 1.45%             | 2034-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Ares Capital Corp.                                      | Ares Capital Corp.                                                                  | CUSIP: 04010LBA0<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |     175000 | PA      | $172301.59    | 0.02%             | 2026-07-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| PPM CLO 6-R Ltd.                                        | PPM CLO 6-R Ltd., Series 2022-6RA, Class A1R                                        | CUSIP: 693975AC8<br>LEI: 2549003CULWUB4AA0151 | Long             | ABS-CBDO         | CORP              | JE        |    3300000 | PA      | $3309784.50   | 0.35%             | 2037-01-20      | Floating      | 5.83%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                    | UMBS                                                                                | CUSIP: 3140XQGM3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     885550 | PA      | $919022.88    | 0.10%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-01

**Name of Applicant:** Nationwide Mutual Funds

**Signature:** David Majewski

**Name of Signer:** David Majewski

**Title:** Treasurer