# EDGAR Filing Document

**Accession Number:** 0000912763
**File Stem:** 0001193125-26-065599
**Filing Date:** 2026-2
**Character Count:** 287059
**Document Hash:** f9cc046b7270cc6c28a77572cd435387
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-065599.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0001193125-26-065599

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Total Return Series, Inc.
- **CENTRAL INDEX KEY:** 0000912763

**ORGANIZATION NAME:**
- **EIN:** 256429335
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07115
- **FILM NUMBER:** 26667802

**BUSINESS ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561
- **BUSINESS PHONE:** 8003417400

**MAIL ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FEDERATED TOTAL RETURN SERIES INC
- **DATE OF NAME CHANGE:** 19950407

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INSIGHT INSTITUTIONAL SERIES INC
- **DATE OF NAME CHANGE:** 19940118

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** STRATEGIC INVESTMENT SERIES INC
- **DATE OF NAME CHANGE:** 19931019

## Series and Classes Contracts Data

### Federated Hermes Ultrashort Bond Fund (Series ID: S000010898)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000030205 | Class A Shares       | FULAX           |
| C000030206 | Institutional Shares | FULIX           |
| C000030207 | Service Shares       | FULBX           |
| C000212356 | Class R6 Shares      | FULLX           |

## Nport-Ex

Federated Hermes Ultrashort Bond Fund

Portfolio of Investments

December 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Amount** <br>**or Shares**<br>|  | **Value** |
|  | ASSET-BACKED SECURITIES—36.9% |  |
|  | **Auto Receivables—23.6%** |  |
| $4000000 | Ally Auto Receivables Trust 2023-1, Class C, 5.960%, 3/15/2029 | &nbsp;&nbsp; $4074573 |
| &nbsp;&nbsp; 2500000 | Ally Auto Receivables Trust 2023-1, Class D, 6.740%, 4/15/2034 | &nbsp;&nbsp; 2551110 |
| &nbsp;&nbsp; 4000000 | Ally Auto Receivables Trust 2023-A, Class C, 6.080%, 1/17/2034 | &nbsp;&nbsp; 4043276 |
| &nbsp;&nbsp; 3000000 | Ally Auto Receivables Trust 2024-1, Class C, 5.410%, 11/15/2029 | &nbsp;&nbsp; 3033662 |
| &nbsp;&nbsp; 3500000 | Ally Auto Receivables Trust 2024-1, Class D, 5.800%, 2/16/2032 | &nbsp;&nbsp; 3539044 |
| &nbsp;&nbsp; 2440236 | Ally Bank Auto Credit-Linked N 2024-B, Class D, 5.410%, 9/15/2032 | &nbsp;&nbsp; 2460763 |
| &nbsp;&nbsp; 3253647 | Ally Bank Auto Credit-Linked N 2024-B, Class E, 6.678%, 9/15/2032 | &nbsp;&nbsp; 3288808 |
| &nbsp;&nbsp; 948760 | Ally Bank Auto Credit-Linked Notes 2024-A, Class B, 5.827%, 5/17/2032 | &nbsp;&nbsp; 964907 |
| &nbsp;&nbsp; 1423140 | Ally Bank Auto Credit-Linked Notes 2024-A, Class C, 6.022%, 5/17/2032 | &nbsp;&nbsp; 1445150 |
| &nbsp;&nbsp; 948760 | Ally Bank Auto Credit-Linked Notes 2024-A, Class D, 6.315%, 5/17/2032 | &nbsp;&nbsp; 964448 |
| &nbsp;&nbsp; 1245482 | Ally Bank Auto Credit-Linked Notes 2025-A, Class D, 4.991%, 6/15/2033 | &nbsp;&nbsp; 1251450 |
| &nbsp;&nbsp; 3321286 | Ally Bank Auto Credit-Linked Notes 2025-A, Class E, 6.066%, 6/15/2033 | &nbsp;&nbsp; 3342674 |
| &nbsp;&nbsp; 4928498 | Ally Bank Auto Credit-Linked Notes 2025-B, Class D, 4.942%, 9/15/2033 | &nbsp;&nbsp; 4942759 |
| &nbsp;&nbsp; 3998593 | Ally Bank Auto Credit-Linked Notes 2025-B, Class E, 6.164%, 9/15/2033 | &nbsp;&nbsp; 4009831 |
| &nbsp;&nbsp; 18800000 | AmeriCredit Automobile Receivables Trust 2023-2, Class C, 6.000%, 7/18/2029 | &nbsp;&nbsp; 19264514 |
| &nbsp;&nbsp; 12000000 | AmeriCredit Automobile Receivables Trust 2025-1, Class B, 4.210%, 10/18/2030 | &nbsp;&nbsp; 12066843 |
| &nbsp;&nbsp; 2586167 | ARI Fleet Lease Trust 2024-A, Class A2, 5.300%, 11/15/2032 | &nbsp;&nbsp; 2599013 |
| &nbsp;&nbsp; 1310000 | ARI Fleet Lease Trust 2024-A, Class B, 5.160%, 11/15/2032 | &nbsp;&nbsp; 1326489 |
| &nbsp;&nbsp; 3158577 | ARI Fleet Lease Trust 2024-B, Class A2, 5.540%, 4/15/2033 | &nbsp;&nbsp; 3181083 |
| &nbsp;&nbsp; 2400000 | ARI Fleet Lease Trust 2025-A, Class B, 4.700%, 1/17/2034 | &nbsp;&nbsp; 2430689 |
| &nbsp;&nbsp; 2200000 | ARI Fleet Lease Trust 2025-A, Class C, 4.900%, 1/17/2034 | &nbsp;&nbsp; 2228240 |
| &nbsp;&nbsp; 3670000 | ARI Fleet Lease Trust 2025-B, Class C, 5.240%, 3/15/2034 | &nbsp;&nbsp; 3721796 |
| &nbsp;&nbsp; 1180381<br><sup>1</sup> <br>| Bayview Opportunity Master Fun 2024-CAR1, Class C, 5.374% (30-DAY AVERAGE SOFR +1.500%), 12/26/2031 | &nbsp;&nbsp; 1185152 |
| &nbsp;&nbsp; 295095<br><sup>1</sup> <br>| Bayview Opportunity Master Fun 2024-CAR1, Class D, 5.924% (30-DAY AVERAGE SOFR +2.050%), 12/26/2031 | &nbsp;&nbsp; 296947 |
| &nbsp;&nbsp; 590191<br><sup>1</sup> <br>| Bayview Opportunity Master Fun 2024-CAR1, Class E, 7.474% (30-DAY AVERAGE SOFR +3.600%), 12/26/2031 | &nbsp;&nbsp; 596062 |
| &nbsp;&nbsp; 2972495<br><sup>1</sup> <br>| BMW Vehicle Lease Trust 2024-2, Class A2B, 4.294% (30-DAY AVERAGE SOFR +0.420%), 1/25/2027 | &nbsp;&nbsp; 2973646 |
| &nbsp;&nbsp; 3650000 | Bof Ursa Funding 2024-SN1A, Class C, 5.830%, 12/15/2028 | &nbsp;&nbsp; 3701388 |
| &nbsp;&nbsp; 4650000 | Bof Ursa Funding 2024-SN1A, Class D, 6.360%, 7/16/2029 | &nbsp;&nbsp; 4756574 |
| &nbsp;&nbsp; 5000000 | CarMax Auto Owner Trust 2024-1, Class B, 5.170%, 8/15/2029 | &nbsp;&nbsp; 5094787 |
| &nbsp;&nbsp; 3500000 | CarMax Auto Owner Trust 2024-1, Class C, 5.470%, 8/15/2029 | &nbsp;&nbsp; 3581372 |
| &nbsp;&nbsp; 3500000 | CarMax Auto Owner Trust 2024-1, Class D, 6.000%, 7/15/2030 | &nbsp;&nbsp; 3588138 |
| &nbsp;&nbsp; 7000000 | CarMax Auto Owner Trust 2024-2, Class D, 6.420%, 10/15/2030 | &nbsp;&nbsp; 7256574 |
| &nbsp;&nbsp; 1750000 | Carmax Auto Owner Trust 2024-4, Class D, 5.360%, 8/15/2031 | &nbsp;&nbsp; 1790248 |
| &nbsp;&nbsp; 3550000 | CarMax Auto Owner Trust 2025-1, Class B, 5.110%, 9/16/2030 | &nbsp;&nbsp; 3636092 |
| &nbsp;&nbsp; 3825000 | CarMax Auto Owner Trust 2025-1, Class C, 5.260%, 10/15/2030 | &nbsp;&nbsp; 3918530 |
| &nbsp;&nbsp; 3965000 | CarMax Auto Owner Trust 2025-1, Class D, 5.600%, 7/15/2031 | &nbsp;&nbsp; 4016796 |
| &nbsp;&nbsp; 2630000 | CarMax Auto Owner Trust 2025-3, Class C, 4.880%, 4/15/2031 | &nbsp;&nbsp; 2655892 |
| &nbsp;&nbsp; 3150000 | CarMax Auto Owner Trust 2025-3, Class D, 5.220%, 5/17/2032 | &nbsp;&nbsp; 3188820 |
| &nbsp;&nbsp; 2234215 | Chase Auto Credit Linked Notes 2025-1, Class C, 4.851%, 2/25/2033 | &nbsp;&nbsp; 2251403 |
| &nbsp;&nbsp; 1679829 | Chase Auto Credit Linked Notes 2025-1, Class D, 5.047%, 2/25/2033 | &nbsp;&nbsp; 1694004 |
| &nbsp;&nbsp; 2330000 | Chase Auto Owner Trust 2025-2A, Class C, 4.530%, 4/25/2031 | &nbsp;&nbsp; 2332336 |
| &nbsp;&nbsp; 6750000 | Chase Auto Owner Trust 2025-2A, Class D, 5.030%, 2/25/2033 | &nbsp;&nbsp; 6758674 |
| &nbsp;&nbsp; 1000000 | Chesapeake Funding II LLC 2023-1A, Class B, 5.590%, 5/15/2035 | &nbsp;&nbsp; 1005913 |
| &nbsp;&nbsp; 750000 | Chesapeake Funding II LLC 2023-1A, Class C, 6.070%, 5/15/2035 | &nbsp;&nbsp; 751887 |
| &nbsp;&nbsp; 1750000 | Chesapeake Funding II LLC 2023-1A, Class D, 6.690%, 5/15/2035 | &nbsp;&nbsp; 1753177 |

---

**1**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | ASSET-BACKED SECURITIES—continued |  |
|  | **Auto Receivables—continued** |  |
| $3000000 | Chesapeake Funding II LLC 2023-2A, Class B, 5.970%, 10/15/2035 | &nbsp;&nbsp; $3049108 |
| &nbsp;&nbsp; 4500000 | Chesapeake Funding II LLC 2023-2A, Class C, 6.150%, 10/15/2035 | &nbsp;&nbsp; 4575671 |
| &nbsp;&nbsp; 7324466<br><sup>1</sup> <br>| Chesapeake Funding II LLC 2024-1A, Class A2, 4.753% (30-DAY AVERAGE SOFR +0.770%), 5/15/2036 | &nbsp;&nbsp; 7326659 |
| &nbsp;&nbsp; 1800000 | Chesapeake Funding II LLC 2024-1A, Class B, 5.440%, 5/15/2036 | &nbsp;&nbsp; 1816433 |
| &nbsp;&nbsp; 3500000 | Chesapeake Funding II LLC 2024-1A, Class C, 5.600%, 5/15/2036 | &nbsp;&nbsp; 3549034 |
| &nbsp;&nbsp; 14500000 | Drive Auto Receivables Trust 2024-1, Class C, 5.430%, 11/17/2031 | &nbsp;&nbsp; 14705919 |
| &nbsp;&nbsp; 15000000 | Drive Auto Receivables Trust 2024-2, Class D, 4.940%, 5/17/2032 | &nbsp;&nbsp; 15152401 |
| &nbsp;&nbsp; 17000000 | Drive Auto Receivables Trust 2025-1, Class D, 5.410%, 9/15/2032 | &nbsp;&nbsp; 17314406 |
| &nbsp;&nbsp; 11500000 | Drive Auto Receivables Trust 2025-2, Class D, 4.900%, 12/15/2032 | &nbsp;&nbsp; 11531241 |
| &nbsp;&nbsp; 129196 | Enterprise Fleet Financing LLC 2022-3, Class A2, 4.380%, 7/20/2029 | &nbsp;&nbsp; 129253 |
| &nbsp;&nbsp; 5304470 | Enterprise Fleet Financing LLC 2023-3, Class A2, 6.400%, 3/20/2030 | &nbsp;&nbsp; 5371461 |
| &nbsp;&nbsp; 8799169 | Enterprise Fleet Financing LLC 2024-1, Class A2, 5.230%, 3/20/2030 | &nbsp;&nbsp; 8872049 |
| &nbsp;&nbsp; 1650769 | Enterprise Fleet Financing LLC 2024-2, Class A2, 5.740%, 12/20/2026 | &nbsp;&nbsp; 1656983 |
| &nbsp;&nbsp; 4042412 | Enterprise Fleet Financing LLC 2024-3, Class A2, 5.310%, 4/20/2027 | &nbsp;&nbsp; 4058064 |
| &nbsp;&nbsp; 4386001 | Enterprise Fleet Financing LLC 2024-4, Class A2, 4.690%, 7/20/2027 | &nbsp;&nbsp; 4402511 |
| &nbsp;&nbsp; 7000000 | Ford Credit Auto Lease Trust 2023-B, Class D, 6.970%, 6/15/2028 | &nbsp;&nbsp; 7030404 |
| &nbsp;&nbsp; 10250000 | Ford Credit Auto Lease Trust 2025-A, Class B, 4.960%, 2/15/2029 | &nbsp;&nbsp; 10370120 |
| &nbsp;&nbsp; 2320000 | Ford Credit Auto Owner Trust 2022-C, Class C, 5.220%, 3/15/2030 | &nbsp;&nbsp; 2327947 |
| &nbsp;&nbsp; 4000000 | Ford Credit Auto Owner Trust/Ford Credit 2023-2, Class D, 6.600%, 2/15/2036 | &nbsp;&nbsp; 4177959 |
| &nbsp;&nbsp; 14000000 | Ford Credit Floorplan Master Owner Trust 2023-1, Class B, 5.310%, 5/15/2028 | &nbsp;&nbsp; 14044745 |
| &nbsp;&nbsp; 10000000 | Ford Credit Floorplan Master Owner Trust 2023-1, Class C, 5.750%, 5/15/2028 | &nbsp;&nbsp; 10046287 |
| &nbsp;&nbsp; 13000000 | Ford Credit Floorplan Master Owner Trust 2023-1, Class D, 6.620%, 5/15/2028 | &nbsp;&nbsp; 13094308 |
| &nbsp;&nbsp; 12000000<br><sup>1</sup> <br>| Ford Credit Floorplan Master Owner Trust 2024-3, Class A2, 4.753% (30-DAY AVERAGE SOFR +0.770%), 9/15/2029 | &nbsp;&nbsp; 12038294 |
| &nbsp;&nbsp; 2650000 | GECU Auto Receivables Trust 2023-1A, Class C, 6.330%, 4/15/2030 | &nbsp;&nbsp; 2689367 |
| &nbsp;&nbsp; 7000000 | GECU Auto Receivables Trust 2023-1A, Class D, 7.200%, 11/17/2031 | &nbsp;&nbsp; 7083677 |
| &nbsp;&nbsp; 6750000<br><sup>1</sup> <br>| General Motors 2024-1A, Class A2, 4.733% (30-DAY AVERAGE SOFR +0.750%), 3/15/2029 | &nbsp;&nbsp; 6773340 |
| &nbsp;&nbsp; 16700000<br><sup>1</sup> <br>| General Motors 2024-4A, Class A2, 4.533% (30-DAY AVERAGE SOFR +0.550%), 11/15/2029 | &nbsp;&nbsp; 16714690 |
| &nbsp;&nbsp; 11000000 | GM Financial Automobile Leasing Trust 2025-2, Class C, 5.040%, 10/22/2029 | &nbsp;&nbsp; 11152610 |
| &nbsp;&nbsp; 2600000 | GM Financial Consumer Automobile Receivables Trust 2025-3, Class C, 4.730%, 1/18/2033 | &nbsp;&nbsp; 2628041 |
| &nbsp;&nbsp; 3250000 | GM Financial Securitized Term 2023-3, Class B, 5.720%, 1/16/2029 | &nbsp;&nbsp; 3301213 |
| &nbsp;&nbsp; 6000000 | GM Financial Securitized Term 2023-3, Class C, 5.920%, 2/16/2029 | &nbsp;&nbsp; 6100655 |
| &nbsp;&nbsp; 2250000 | GM Financial Securitized Term 2024-1, Class B, 5.160%, 8/16/2029 | &nbsp;&nbsp; 2294198 |
| &nbsp;&nbsp; 1850000 | GM Financials Consumer Automobile 2025-3 B, Class B, 4.530%, 9/16/2031 | &nbsp;&nbsp; 1876678 |
| &nbsp;&nbsp; 1600000 | GreenState Auto Receivables Trust 2024-1A, Class B, 5.420%, 1/15/2030 | &nbsp;&nbsp; 1627195 |
| &nbsp;&nbsp; 2000000 | GreenState Auto Receivables Trust 2024-1A, Class C, 5.770%, 2/15/2030 | &nbsp;&nbsp; 2032415 |
| &nbsp;&nbsp; 1800000 | GreenState Auto Receivables Trust 2024-1A, Class SUB, 6.500%, 6/15/2032 | &nbsp;&nbsp; 1828834 |
| &nbsp;&nbsp; 12000000 | Hyundai Auto Lease Securitization Trust 2024 - A, Class A, 5.350%, 5/15/2028 | &nbsp;&nbsp; 12079036 |
| &nbsp;&nbsp; 4865000 | Hyundai Auto Lease Securitization Trust 2025-A, Class B, 5.150%, 6/15/2029 | &nbsp;&nbsp; 4932036 |
| &nbsp;&nbsp; 7000000 | Hyundai Auto Receivables Trust 2024-A, Class C, 5.270%, 7/15/2031 | &nbsp;&nbsp; 7160898 |
| &nbsp;&nbsp; 9500000 | Hyundai Auto Receivables Trust 2025-B, Class C, 4.920%, 7/15/2032 | &nbsp;&nbsp; 9707004 |
| &nbsp;&nbsp; 9000000 | Hyundai Auto Receivables Trust 2025-C, Class C, 4.370%, 1/18/2033 | &nbsp;&nbsp; 9038930 |
| &nbsp;&nbsp; 3500000 | LAD Auto Receivables Trust 2024-2A, Class B, 5.500%, 7/16/2029 | &nbsp;&nbsp; 3574340 |
| &nbsp;&nbsp; 2300000 | LAD Auto Receivables Trust 2024-2A, Class C, 5.660%, 10/15/2029 | &nbsp;&nbsp; 2361599 |
| &nbsp;&nbsp; 1700000 | LAD Auto Receivables Trust 2024-2A, Class D, 6.370%, 10/15/2031 | &nbsp;&nbsp; 1759074 |
| &nbsp;&nbsp; 3200000 | LAD Auto Receivables Trust 2024-3A, Class C, 4.930%, 3/15/2030 | &nbsp;&nbsp; 3212876 |
| &nbsp;&nbsp; 2800000 | LAD Auto Receivables Trust 2024-3A, Class D, 5.180%, 2/17/2032 | &nbsp;&nbsp; 2813814 |
| &nbsp;&nbsp; 4900000 | LAD Auto Receivables Trust 2025-2A, Class D, 5.010%, 12/15/2032 | &nbsp;&nbsp; 4946219 |
| &nbsp;&nbsp; 2250000 | Navistar Financial Dealer Note 2025-1 B, Class B, 4.420%, 9/25/2030 | &nbsp;&nbsp; 2241565 |
| &nbsp;&nbsp; 7000000 | Navistar Financial Dealer Note Master Trust 2024-1, Class A, 5.590%, 4/25/2029 | &nbsp;&nbsp; 7035867 |
| &nbsp;&nbsp; 2000000 | Navistar Financial Dealer Note Master Trust 2025-1, Class C, 4.720%, 9/25/2030 | &nbsp;&nbsp; 1993084 |

---

**2**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | ASSET-BACKED SECURITIES—continued |  |
|  | **Auto Receivables—continued** |  |
| $4750000<br><sup>1</sup> <br>| NextGear Floorplan Master Owner Trust 2023-1A, Class A1, 5.083% (30-DAY AVERAGE SOFR +1.100%), 3/15/2028 | &nbsp;&nbsp; $4755245 |
| &nbsp;&nbsp; 12000000<br><sup>1</sup> <br>| NextGear Floorplan Master Owner Trust 2024-1A, Class A1, 4.883% (30-DAY AVERAGE SOFR +0.900%), 3/15/2029 | &nbsp;&nbsp; 12063792 |
| &nbsp;&nbsp; 13000000<br><sup>1</sup> <br>| NextGear Floorplan Master Owner Trust 2024-2A, Class A1, 4.863% (30-DAY AVERAGE SOFR +0.880%), 9/15/2029 | &nbsp;&nbsp; 13070501 |
| &nbsp;&nbsp; 11000000 | NextGear Floorplan Master Owner Trust 2025-1A, Class B, 4.890%, 2/15/2030 | &nbsp;&nbsp; 11076177 |
| &nbsp;&nbsp; 19000000 | NextGear Floorplan Master Owner Trust 2025-2A, Class B, 4.690%, 10/15/2030 | &nbsp;&nbsp; 19043082 |
| &nbsp;&nbsp; 6000000 | Nissan Auto Lease Trust 2025-B, Class C, 4.810%, 11/15/2029 | &nbsp;&nbsp; 6088223 |
| &nbsp;&nbsp; 17000000<br><sup>1</sup> <br>| Nissan Master Owner Trust Receivables 2024-A, Class A, 4.653% (30-DAY AVERAGE SOFR +0.670%), 2/15/2028 | &nbsp;&nbsp; 17004463 |
| &nbsp;&nbsp; 1218746 | PenFed Auto Receivables Owner Trust 2022-A, Class B, 4.600%, 12/15/2028 | &nbsp;&nbsp; 1219107 |
| &nbsp;&nbsp; 1582000 | PenFed Auto Receivables Owner Trust 2022-A, Class C, 4.830%, 12/15/2028 | &nbsp;&nbsp; 1584631 |
| &nbsp;&nbsp; 800000 | PenFed Auto Receivables Owner Trust 2022-A, Class D, 5.850%, 6/17/2030 | &nbsp;&nbsp; 801024 |
| &nbsp;&nbsp; 1230000 | PenFed Auto Receivables Owner Trust 2025-A, Class B, 4.370%, 7/15/2031 | &nbsp;&nbsp; 1235351 |
| &nbsp;&nbsp; 1050000 | PenFed Auto Receivables Owner Trust 2025-A, Class C, 4.670%, 2/17/2032 | &nbsp;&nbsp; 1055065 |
| &nbsp;&nbsp; 1230000 | PenFed Auto Receivables Owner Trust 2025-A, Class D, 5.070%, 10/17/2033 | &nbsp;&nbsp; 1231125 |
| &nbsp;&nbsp; 1119544<br><sup>1</sup> <br>| Porsche Innovative Lease Owner Trust 2024-2A, Class A2B, 4.357% (30-DAY AVERAGE SOFR +0.440%), 12/21/2026 | &nbsp;&nbsp; 1119727 |
| &nbsp;&nbsp; 4886926 | Santander Bank Auto Credit-Linked Notes 2024-B, Class D, 5.483%, 1/18/2033 | &nbsp;&nbsp; 4928365 |
| &nbsp;&nbsp; 3420848 | Santander Bank Auto Credit-Linked Notes 2024-B, Class E, 6.799%, 1/18/2033 | &nbsp;&nbsp; 3447589 |
| &nbsp;&nbsp; 5000000 | Santander Bank Auto Credit-Linked Notes 2025-A, Class D, 5.150%, 1/16/2034 | &nbsp;&nbsp; 5017796 |
| &nbsp;&nbsp; 2500000 | Santander Bank Auto Credit-Linked Notes 2025-A, Class E, 6.270%, 1/16/2034 | &nbsp;&nbsp; 2508745 |
| &nbsp;&nbsp; 2670562 | Santander Drive Auto Receivables Trust 2022-6, Class C, 4.960%, 11/15/2028 | &nbsp;&nbsp; 2676448 |
| &nbsp;&nbsp; 3600000 | Santander Drive Auto Receivables Trust 2024-1, Class C, 5.450%, 3/15/2030 | &nbsp;&nbsp; 3644177 |
| &nbsp;&nbsp; 20000000 | Santander Drive Auto Receivables Trust 2024-2, Class D, 6.280%, 8/15/2031 | &nbsp;&nbsp; 20736421 |
| &nbsp;&nbsp; 15000000 | Santander Drive Auto Receivables Trust 2024-4, Class D, 5.320%, 12/15/2031 | &nbsp;&nbsp; 15304078 |
| &nbsp;&nbsp; 19000000 | Santander Drive Auto Receivables Trust 2024-5, Class D, 5.140%, 2/17/2032 | &nbsp;&nbsp; 19165404 |
| &nbsp;&nbsp; 20500000 | Santander Drive Auto Receivables Trust 2025-1, Class D, 5.430%, 3/17/2031 | &nbsp;&nbsp; 20849425 |
| &nbsp;&nbsp; 13500000 | Santander Drive Auto Receivables Trust 2025-2, Class D, 5.470%, 5/15/2031 | &nbsp;&nbsp; 13712750 |
| &nbsp;&nbsp; 21700000 | Santander Drive Auto Receivables Trust 2025-3, Class D, 5.110%, 9/15/2031 | &nbsp;&nbsp; 21945728 |
| &nbsp;&nbsp; 13500000 | Santander Drive Auto Receivables Trust 2025-4, Class D, 4.950%, 1/15/2032 | &nbsp;&nbsp; 13596906 |
| &nbsp;&nbsp; 6000000 | SBNA Auto Lease Trust 2024-A, Class D, 6.040%, 4/15/2030 | &nbsp;&nbsp; 6142764 |
| &nbsp;&nbsp; 4225000 | SBNA Auto Receivables Trust 2024-A, Class C, 5.590%, 1/15/2030 | &nbsp;&nbsp; 4293717 |
| &nbsp;&nbsp; 6500000 | SBNA Auto Receivables Trust 2024-A, Class E, 8.000%, 4/15/2032 | &nbsp;&nbsp; 6747684 |
| &nbsp;&nbsp; 1160958 | SBNA Auto Receivables Trust 2025-SF1, Class B, 5.120%, 3/17/2031 | &nbsp;&nbsp; 1161739 |
| &nbsp;&nbsp; 4525000 | SBNA Auto Receivables Trust 2025-SF1, Class D, 5.340%, 9/15/2031 | &nbsp;&nbsp; 4553973 |
| &nbsp;&nbsp; 1175000 | SBNA Auto Receivables Trust 2025-SF1, Class E, 6.740%, 10/15/2031 | &nbsp;&nbsp; 1186691 |
| &nbsp;&nbsp; 2178462 | Securitized Term Auto Receivables Trust 2025-A, Class B, 5.038%, 7/25/2031 | &nbsp;&nbsp; 2199783 |
| &nbsp;&nbsp; 1867254 | Securitized Term Auto Receivables Trust 2025-A, Class C, 5.185%, 7/25/2031 | &nbsp;&nbsp; 1879704 |
| &nbsp;&nbsp; 2178462 | Securitized Term Auto Receivables Trust 2025-A, Class D, 6.746%, 7/25/2031 | &nbsp;&nbsp; 2209255 |
| &nbsp;&nbsp; 3623233 | Securitized Term Auto Receivables Trust 2025-B, Class C, 5.121%, 12/29/2032 | &nbsp;&nbsp; 3649235 |
| &nbsp;&nbsp; 3623233 | Securitized Term Auto Receivables Trust 2025-B, Class D, 5.463%, 12/29/2032 | &nbsp;&nbsp; 3649101 |
| &nbsp;&nbsp; 12000000 | SFS Auto Receivables Securitiz 2025-3A C, Class C, 4.640%, 11/21/2033 | &nbsp;&nbsp; 12028528 |
| &nbsp;&nbsp; 5500000 | SFS Auto Receivables Securitization Trust 2023-1A, Class B, 5.710%, 1/22/2030 | &nbsp;&nbsp; 5620002 |
| &nbsp;&nbsp; 6950000 | SFS Auto Receivables Securitization Trust 2023-1A, Class C, 5.970%, 2/20/2031 | &nbsp;&nbsp; 7127684 |
| &nbsp;&nbsp; 4000000 | SFS Auto Receivables Securitization Trust 2024-1A, Class C, 5.510%, 1/20/2032 | &nbsp;&nbsp; 4102048 |
| &nbsp;&nbsp; 5000000 | SFS Auto Receivables Securitization Trust 2024-2A, Class C, 5.540%, 2/20/2032 | &nbsp;&nbsp; 5123843 |
| &nbsp;&nbsp; 7485000 | Stellantis Financial Underwritten Enhanced Lease Trust 2025-AA, Class C, 5.080%, 8/20/2029 | &nbsp;&nbsp; 7585359 |
| &nbsp;&nbsp; 13200000 | Stellantis Financial Underwritten Enhanced Lease Trust 2025-CA, Class C, 4.440%, 8/20/2030 | &nbsp;&nbsp; 13247053 |
| &nbsp;&nbsp; 10000000 | Tesla Auto Lease Trust 2023-B, Class B, 6.570%, 8/20/2027 | &nbsp;&nbsp; 10019888 |
| &nbsp;&nbsp; 6850000 | Tesla Auto Lease Trust 2024-A, Class B, 5.550%, 5/22/2028 | &nbsp;&nbsp; 6896087 |
| &nbsp;&nbsp; 12400000 | Tesla Auto Lease Trust 2024-B, Class C, 5.490%, 12/20/2028 | &nbsp;&nbsp; 12525193 |
| &nbsp;&nbsp; 5812450 | The Huntington National Bank 2025-1, Class B, 4.957%, 3/21/2033 | &nbsp;&nbsp; 5845405 |
| &nbsp;&nbsp; 4658157 | Truist Bank Auto Credit-Linked Notes Series 2025-1, Class C, 6.807%, 9/26/2033 | &nbsp;&nbsp; 4663420 |

---

**3**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | ASSET-BACKED SECURITIES—continued |  |
|  | **Auto Receivables—continued** |  |
| $1294632 | U.S. Bank National Association 2023-1, Class B, 6.789%, 8/25/2032 | &nbsp;&nbsp; $1307095 |
| &nbsp;&nbsp; 3500000 | Wheels Fleet Lease Funding LLC 2025-2A, Class B, 4.610%, 5/18/2040 | &nbsp;&nbsp; 3527655 |
| &nbsp;&nbsp; 7500000 | Wheels Fleet Lease Funding LLC 2025-2A, Class C, 4.860%, 5/18/2040 | &nbsp;&nbsp; 7559925 |
| &nbsp;&nbsp; 2575000 | Wheels Fleet Lease Funding LLC 2025-3A, Class B, 4.440%, 9/18/2040 | &nbsp;&nbsp; 2582087 |
| &nbsp;&nbsp; 5000000 | Wheels Fleet Lease Funding LLC 2025-3A, Class C, 4.790%, 9/18/2040 | &nbsp;&nbsp; 5014659 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 862446968 |
|  | **Credit Card—3.8%** |  |
| &nbsp;&nbsp; 3400000 | American Express Credit Account 2025-5 A, Class A, 4.510%, 7/15/2032 | &nbsp;&nbsp; 3472559 |
| &nbsp;&nbsp; 8000000 | American Express Credit Account Master Trust 2024-1, Class A, 5.230%, 4/15/2029 | &nbsp;&nbsp; 8153464 |
| &nbsp;&nbsp; 13650000 | CARDS II Trust 2024-1A, Class B, 5.450%, 7/16/2029 | &nbsp;&nbsp; 13762289 |
| &nbsp;&nbsp; 5000000 | CARDS II Trust 2024-1A, Class C, 5.840%, 7/16/2029 | &nbsp;&nbsp; 5062967 |
| &nbsp;&nbsp; 5000000 | CARDS II Trust 2025-1A, Class B, 5.070%, 3/17/2031 | &nbsp;&nbsp; 5077790 |
| &nbsp;&nbsp; 7392000 | CARDS II Trust 2025-1A, Class C, 5.420%, 3/17/2031 | &nbsp;&nbsp; 7478856 |
| &nbsp;&nbsp; 6400000 | Evergreen Credit Card Trust 2024-CRT4, Class B, 5.250%, 10/15/2028 | &nbsp;&nbsp; 6457059 |
| &nbsp;&nbsp; 6000000 | Evergreen Credit Card Trust 2024-CRT4, Class C, 5.640%, 10/15/2028 | &nbsp;&nbsp; 6057775 |
| &nbsp;&nbsp; 6554000 | Evergreen Credit Card Trust 2025-1A, Class C, 4.540%, 10/15/2029 | &nbsp;&nbsp; 6575838 |
| &nbsp;&nbsp; 2586000 | Evergreen Credit Card Trust Series 2025-1A, Class B, 4.240%, 10/15/2029 | &nbsp;&nbsp; 2594434 |
| &nbsp;&nbsp; 7704000 | Evergreen Credit Card Trust Series 2025-CRT5, Class B, 5.240%, 5/15/2029 | &nbsp;&nbsp; 7814151 |
| &nbsp;&nbsp; 3100000 | Evergreen Credit Card Trust Series 2025-CRT5, Class C, 5.530%, 5/15/2029 | &nbsp;&nbsp; 3136697 |
| &nbsp;&nbsp; 5000000 | First National Master Note Trust 2023-1, Class A, 5.130%, 4/15/2029 | &nbsp;&nbsp; 5016461 |
| &nbsp;&nbsp; 8000000 | First National Master Note Trust 2023-2, Class A, 5.770%, 9/15/2029 | &nbsp;&nbsp; 8100926 |
| &nbsp;&nbsp; 5300000 | First National Master Note Trust 2024-1, Class A, 5.340%, 5/15/2030 | &nbsp;&nbsp; 5407640 |
| &nbsp;&nbsp; 4250000 | Golden Credit Card Trust 2021-1A, Class C, 1.740%, 8/15/2028 | &nbsp;&nbsp; 4163178 |
| &nbsp;&nbsp; 4000000 | Golden Credit Card Trust 2021-1A, Class C, 2.660%, 1/15/2029 | &nbsp;&nbsp; 3908619 |
| &nbsp;&nbsp; 4000000 | Master Credit Card Trust 2022-2A, Class B, 2.380%, 7/21/2028 | &nbsp;&nbsp; 3897310 |
| &nbsp;&nbsp; 1650000 | Master Credit Card Trust 2023-3A, Class B, 6.300%, 10/21/2030 | &nbsp;&nbsp; 1735215 |
| &nbsp;&nbsp; 5000000 | Master Credit Card Trust 2023-3A, Class C, 7.080%, 10/21/2030 | &nbsp;&nbsp; 5175014 |
| &nbsp;&nbsp; 2750000 | Master Credit Card Trust 2024-1A, Class B, 5.530%, 1/21/2028 | &nbsp;&nbsp; 2738384 |
| &nbsp;&nbsp; 3500000 | Master Credit Card Trust 2024-1A, Class C, 6.020%, 1/21/2028 | &nbsp;&nbsp; 3483712 |
| &nbsp;&nbsp; 7174000 | Trillium Credit Card Trust II 2023-1A, Class B, 5.230%, 3/26/2031 | &nbsp;&nbsp; 7203698 |
| &nbsp;&nbsp; 3305000 | Trillium Credit Card Trust II 2023-1A, Class C, 6.060%, 3/26/2031 | &nbsp;&nbsp; 3318425 |
| &nbsp;&nbsp; 6000000 | Trillium Credit Card Trust II 2025-1A, Class B, 4.405%, 9/26/2030 | &nbsp;&nbsp; 6020733 |
| &nbsp;&nbsp; 3300000 | Trillium Credit Card Trust II 2025-1A, Class C, 4.700%, 9/26/2030 | &nbsp;&nbsp; 3311301 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 139124495 |
|  | **Equipment Lease—3.5%** |  |
| &nbsp;&nbsp; 2500000 | Dell Equipment Finance Trust 2023-2, Class D, 6.740%, 7/23/2029 | &nbsp;&nbsp; 2505797 |
| &nbsp;&nbsp; 10000000 | Dell Equipment Finance Trust 2023-3, Class B, 6.050%, 4/23/2029 | &nbsp;&nbsp; 10085269 |
| &nbsp;&nbsp; 5500000 | Dell Equipment Finance Trust 2023-3, Class C, 6.170%, 4/23/2029 | &nbsp;&nbsp; 5546936 |
| &nbsp;&nbsp; 3500000 | Dell Equipment Finance Trust 2023-3, Class D, 6.750%, 10/22/2029 | &nbsp;&nbsp; 3537229 |
| &nbsp;&nbsp; 2000000 | Dell Equipment Finance Trust 2024-1, Class B, 5.530%, 3/22/2030 | &nbsp;&nbsp; 2031405 |
| &nbsp;&nbsp; 1000000 | Dell Equipment Finance Trust 2024-1, Class C, 5.730%, 3/22/2030 | &nbsp;&nbsp; 1014599 |
| &nbsp;&nbsp; 2000000 | Dell Equipment Finance Trust 2024-1, Class D, 6.120%, 9/23/2030 | &nbsp;&nbsp; 2028163 |
| &nbsp;&nbsp; 1030000 | Dell Equipment Finance Trust 2025-1, Class B, 4.960%, 2/24/2031 | &nbsp;&nbsp; 1043299 |
| &nbsp;&nbsp; 1730000 | Dell Equipment Finance Trust 2025-1, Class C, 5.250%, 2/24/2031 | &nbsp;&nbsp; 1755770 |
| &nbsp;&nbsp; 1460000 | Dell Equipment Finance Trust 2025-1, Class D, 5.640%, 8/22/2031 | &nbsp;&nbsp; 1485116 |
| &nbsp;&nbsp; 1975000 | Dell Equipment Finance Trust 2025-2, Class C, 4.530%, 3/24/2031 | &nbsp;&nbsp; 1983722 |
| &nbsp;&nbsp; 7500000 | Dell Equipment Finance Trust 2025-2, Class D, 4.830%, 3/22/2032 | &nbsp;&nbsp; 7533967 |
| &nbsp;&nbsp; 941800 | DLLAD LLC 2024-1A, Class A2, 5.500%, 8/20/2027 | &nbsp;&nbsp; 946838 |
| &nbsp;&nbsp; 4677978 | DLLST LLC 2024-1A, Class A3, 5.050%, 8/20/2027 | &nbsp;&nbsp; 4697725 |
| &nbsp;&nbsp; 4000000 | Great America Leasing Receivables 2023-1, Class B, 5.210%, 3/15/2030 | &nbsp;&nbsp; 4066615 |

---

**4**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | ASSET-BACKED SECURITIES—continued |  |
|  | **Equipment Lease—continued** |  |
| $3000000 | Great America Leasing Receivables 2023-1, Class C, 5.500%, 3/17/2031 | &nbsp;&nbsp; $3061589 |
| &nbsp;&nbsp; 3700000 | Great America Leasing Receivables 2024-1, Class B, 5.180%, 12/16/2030 | &nbsp;&nbsp; 3780442 |
| &nbsp;&nbsp; 1225000 | Great America Leasing Receivables 2024-1, Class C, 5.430%, 12/15/2031 | &nbsp;&nbsp; 1254298 |
| &nbsp;&nbsp; 11760000 | Great America Leasing Receivables 2024-2, Class B, 5.230%, 5/15/2031 | &nbsp;&nbsp; 11981337 |
| &nbsp;&nbsp; 8000000 | Great America Leasing Receivables 2025-1, Class B, 4.770%, 1/15/2032 | &nbsp;&nbsp; 8152251 |
| &nbsp;&nbsp; 3000000 | Great America Leasing Receivables 2025-1, Class C, 5.010%, 1/18/2033 | &nbsp;&nbsp; 3051985 |
| &nbsp;&nbsp; 2535000 | Great America Leasing Receivables 2025-2, Class B, 4.500%, 9/15/2032 | &nbsp;&nbsp; 2560614 |
| &nbsp;&nbsp; 2600000 | Great America Leasing Receivables 2025-2, Class C, 4.840%, 9/15/2033 | &nbsp;&nbsp; 2632877 |
| &nbsp;&nbsp; 7000000 | HPEFS Equipment Trust 2023-2A, Class D, 6.970%, 7/21/2031 | &nbsp;&nbsp; 7063599 |
| &nbsp;&nbsp; 7700000 | HPEFS Equipment Trust 2024-1A, Class D, 5.820%, 11/20/2031 | &nbsp;&nbsp; 7781372 |
| &nbsp;&nbsp; 10500000 | HPEFS Equipment Trust 2024-2A, Class D, 5.820%, 4/20/2032 | &nbsp;&nbsp; 10732568 |
| &nbsp;&nbsp; 11018000 | HPEFS Equipment Trust 2025-1A, Class D, 4.990%, 3/21/2033 | &nbsp;&nbsp; 11139946 |
| &nbsp;&nbsp; 3000000 | HPEFS Equipment Trust 2025-2A, Class C, 4.410%, 11/22/2032 | &nbsp;&nbsp; 3004471 |
| &nbsp;&nbsp; 3000000 | HPEFS Equipment Trust 2025-2A, Class D, 4.770%, 5/20/2033 | &nbsp;&nbsp; 3003319 |
| &nbsp;&nbsp; 65015 | MMAF Equipment Finance LLC 2023-A, Class A2, 5.790%, 11/13/2026 | &nbsp;&nbsp; 65055 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 129528173 |
|  | **Home Equity Loan—0.0%** |  |
| &nbsp;&nbsp; 28887<br><sup>1</sup> <br>| Countrywide Asset Backed Certificates 2004-4, Class A, 4.586% (CME Term SOFR 1 Month +0.854%), 8/25/2034 | &nbsp;&nbsp; 29250 |
| &nbsp;&nbsp; 109416<br><sup>2</sup> <br>| NC Finance Trust 1999-1, Class D, 8.750%, 1/25/2029 | &nbsp;&nbsp; 0 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29250 |
|  | **Manufactured Housing—0.0%** |  |
| &nbsp;&nbsp; 1615 | Indymac Manufactured Housing Contract 1997-1, Class A3, 6.610%, 2/25/2028 | &nbsp;&nbsp; 1621 |
|  | **Other—2.5%** |  |
| &nbsp;&nbsp; 7600000<br><sup>1</sup> <br>| PFS Financing Corp. 2024-A, Class B, 5.283% (30-DAY AVERAGE SOFR +1.300%), 1/15/2028 | &nbsp;&nbsp; 7609977 |
| &nbsp;&nbsp; 21783000<br><sup>1</sup> <br>| PFS Financing Corp. 2024-C, Class A, 4.783% (30-DAY AVERAGE SOFR +0.800%), 4/15/2028 | &nbsp;&nbsp; 21865017 |
| &nbsp;&nbsp; 3500000<br><sup>1</sup> <br>| PFS Financing Corp. 2024-C, Class B, 5.183% (30-DAY AVERAGE SOFR +1.200%), 4/15/2028 | &nbsp;&nbsp; 3509482 |
| &nbsp;&nbsp; 3000000 | PFS Financing Corp. 2024-E, Class B, 5.140%, 7/15/2028 | &nbsp;&nbsp; 3027892 |
| &nbsp;&nbsp; 5000000 | PFS Financing Corp. 2024-F, Class B, 4.990%, 8/15/2029 | &nbsp;&nbsp; 5028366 |
| &nbsp;&nbsp; 4250000 | PFS Financing Corp. 2025-E, Class B, 4.610%, 7/16/2029 | &nbsp;&nbsp; 4280465 |
| &nbsp;&nbsp; 9000000 | Verizon Master Trust 2023-6, Class C, 5.050%, 9/22/2031 | &nbsp;&nbsp; 9110973 |
| &nbsp;&nbsp; 2528000 | Verizon Master Trust 2025-1, Class C, 5.090%, 1/21/2031 | &nbsp;&nbsp; 2579051 |
| &nbsp;&nbsp; 8400000 | Verizon Master Trust 2025-3, Class C, 4.900%, 3/20/2030 | &nbsp;&nbsp; 8465959 |
| &nbsp;&nbsp; 5065000 | Verizon Master Trust 2025-5, Class C, 4.840%, 6/20/2031 | &nbsp;&nbsp; 5122695 |
| &nbsp;&nbsp; 8000000 | Verizon Master Trust 2025-7, Class C, 4.400%, 8/20/2031 | &nbsp;&nbsp; 8054521 |
| &nbsp;&nbsp; 10700000 | Verizon Master Trust 2025-9, Class C, 4.410%, 10/21/2030 | &nbsp;&nbsp; 10759494 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89413892 |
|  | **Student Loans—3.5%** |  |
| &nbsp;&nbsp; 1115225<br><sup>1</sup> <br>| Mississippi Higher Education Assistance Corp. 2014-1, Class A1, 4.668% (30-DAY AVERAGE SOFR +0.794%), 10/25/2035 | &nbsp;&nbsp; 1111710 |
| &nbsp;&nbsp; 2750035<br><sup>1</sup> <br>| Navient Student Loan Trust 2019-D, Class A2B, 4.914% (CME Term SOFR 1 Month +1.164%), 12/15/2059 | &nbsp;&nbsp; 2745184 |
| &nbsp;&nbsp; 4663202 | Navient Student Loan Trust 2020-GA, Class A, 1.170%, 9/16/2069 | &nbsp;&nbsp; 4382527 |
| &nbsp;&nbsp; 3218916 | Navient Student Loan Trust 2020-HA, Class A, 1.310%, 1/15/2069 | &nbsp;&nbsp; 3054335 |
| &nbsp;&nbsp; 8748846 | Navient Student Loan Trust 2021-A, Class A, 0.840%, 5/15/2069 | &nbsp;&nbsp; 8076303 |
| &nbsp;&nbsp; 26632570 | Navient Student Loan Trust 2021-BA, Class A, 0.940%, 7/15/2069 | &nbsp;&nbsp; 24314719 |
| &nbsp;&nbsp; 20785815 | Navient Student Loan Trust 2021-CA, Class A, 1.060%, 10/15/2069 | &nbsp;&nbsp; 19148824 |
| &nbsp;&nbsp; 25507155 | Navient Student Loan Trust 2021-FA, Class A, 1.110%, 2/18/2070 | &nbsp;&nbsp; 22810453 |
| &nbsp;&nbsp; 1352585<br><sup>1</sup> <br>| Navient Student Loan Trust 2023-BA, Class A1B, 5.683% (30-DAY AVERAGE SOFR +1.700%), 3/15/2072 | &nbsp;&nbsp; 1366759 |
| &nbsp;&nbsp; 3497712<br><sup>1</sup> <br>| Nelnet Student Loan Trust 2021-CA, Class AFL, 4.588% (CME Term SOFR 1 Month +0.854%), 4/20/2062 | &nbsp;&nbsp; 3485130 |
| &nbsp;&nbsp; 20792958<br><sup>1</sup> <br>| Nelnet Student Loan Trust 2021-DA, Class AFL, 4.538% (CME Term SOFR 1 Month +0.804%), 4/20/2062 | &nbsp;&nbsp; 20738175 |
| &nbsp;&nbsp; 4507179<br><sup>1</sup> <br>| SMB Private Education Loan Trust 2021-D, Class A1B, 4.464% (CME Term SOFR 1 Month +0.714%), 3/17/2053 | &nbsp;&nbsp; 4453821 |

---

**5**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | ASSET-BACKED SECURITIES—continued |  |
|  | **Student Loans—continued** |  |
| $11598774<br><sup>1</sup> <br>| SMB Private Education Loan Trust 2021-E, Class A1B, 4.494% (CME Term SOFR 1 Month +0.744%), 2/15/2051 | &nbsp;&nbsp; $11469642 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 127157582 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL ASSET-BACKED SECURITIES <br>(IDENTIFIED COST $1,342,593,213)<br>| &nbsp;&nbsp; 1347701981 |
|  | CORPORATE BONDS—24.5% |  |
|  | **Capital Goods - Construction Machinery—0.3%** |  |
| &nbsp;&nbsp; 10000000 | CNH Industrial Capital America LLC, Sr. Unsecd. Note, 4.500%, 10/16/2030 | &nbsp;&nbsp; 10004163 |
|  | **Communications - Media & Entertainment—0.2%** |  |
| &nbsp;&nbsp; 8610000 | Meta Platforms, Inc., Sr. Unsecd. Note, 4.200%, 11/15/2030 | &nbsp;&nbsp; 8630401 |
|  | **Communications - Telecom Wireless—0.1%** |  |
| &nbsp;&nbsp; 4515000 | American Tower Corp., Sr. Unsecd. Note, 4.900%, 3/15/2030 | &nbsp;&nbsp; 4613220 |
|  | **Consumer Cyclical - Automotive—5.2%** |  |
| &nbsp;&nbsp; 9985000 | American Honda Finance Corp., Sr. Unsecd. Note, 4.250%, 9/1/2028 | &nbsp;&nbsp; 10048255 |
| &nbsp;&nbsp; 9685000 | American Honda Finance Corp., Sr. Unsecd. Note, 4.550%, 7/9/2027 | &nbsp;&nbsp; 9779766 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| American Honda Finance Corp., Sr. Unsecd. Note, Series GMTN, 4.632% (SOFR +0.720%), 10/22/2027 | &nbsp;&nbsp; 10015603 |
| &nbsp;&nbsp; 12500000<br><sup>1</sup> <br>| Daimler Trucks Financial NA, Sr. Unsecd. Note, 144A, 4.810% (SOFR +0.840%), 1/13/2028 | &nbsp;&nbsp; 12483274 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| Ford Motor Credit Co., LLC, Sr. Unsecd. Note, 5.283% (SOFR +1.450%), 11/5/2026 | &nbsp;&nbsp; 10037188 |
| &nbsp;&nbsp; 18605000 | Ford Motor Credit Co., LLC, Sr. Unsecd. Note, 6.950%, 6/10/2026 | &nbsp;&nbsp; 18770324 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| General Motors Financial Co., Inc., Sr. Unsecd. Note, 4.817% (SOFR +1.040%), 2/26/2027 | &nbsp;&nbsp; 10017494 |
| &nbsp;&nbsp; 9985000 | General Motors Financial Co., Inc., Sr. Unsecd. Note, 5.000%, 7/15/2027 | &nbsp;&nbsp; 10121294 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| General Motors Financial Co., Inc., Sr. Unsecd. Note, 5.284% (SOFR +1.290%), 1/7/2030 | &nbsp;&nbsp; 10047167 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| Hyundai Capital America, Sr. Unsecd. Note, 144A, 5.024% (SOFR +1.300%), 9/18/2030 | &nbsp;&nbsp; 10067932 |
| &nbsp;&nbsp; 8000000 | Hyundai Capital America, Sr. Unsecd. Note, 144A, 5.250%, 1/8/2027 | &nbsp;&nbsp; 8094012 |
| &nbsp;&nbsp; 6000000 | Hyundai Capital America, Sr. Unsecd. Note, 144A, 5.950%, 9/21/2026 | &nbsp;&nbsp; 6079062 |
| &nbsp;&nbsp; 13795000<br><sup>1</sup> <br>| Mercedes-Benz Finance NA LLC, Sr. Unsecd. Note, 144A, 4.659% (SOFR +0.850%), 11/15/2027 | &nbsp;&nbsp; 13851625 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| Nissan Motor Acceptance Co. LLC., Sr. Unsecd. Note, 144A, 5.773% (SOFR +2.050%), 9/13/2027 | &nbsp;&nbsp; 9941224 |
| &nbsp;&nbsp; 7500000 | Nissan Motor Acceptance Co. LLC., Sr. Unsecd. Note, 144A, 6.950%, 9/15/2026 | &nbsp;&nbsp; 7607179 |
| &nbsp;&nbsp; 3000000 | Stellantis Finance U.S., Inc., Sr. Unsecd. Note, 144A, 5.350%, 3/17/2028 | &nbsp;&nbsp; 3059538 |
| &nbsp;&nbsp; 8090000 | Toyota Motor Credit Corp., Sr. Unsecd. Note, 4.050%, 9/5/2028 | &nbsp;&nbsp; 8132366 |
| &nbsp;&nbsp; 7000000<br><sup>1</sup> <br>| Toyota Motor Credit Corp., Sr. Unsecd. Note, 4.596% (SOFR +0.770%), 8/7/2026 | &nbsp;&nbsp; 7023583 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| Volkswagen Group of America Finance LLC, 144A, 4.554% (SOFR +0.830%), 3/20/2026 | &nbsp;&nbsp; 10009745 |
| &nbsp;&nbsp; 3265000 | Volkswagen Group of America Finance LLC, Sr. Unsecd. Note, 144A, 4.550%, 9/11/2028 | &nbsp;&nbsp; 3284390 |
| &nbsp;&nbsp; 2000000<br><sup>1</sup> <br>| Volkswagen Group of America Finance LLC, Sr. Unsecd. Note, 144A, 4.787% (SOFR +1.060%), 3/25/2027 | &nbsp;&nbsp; 2007284 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 190478305 |
|  | **Consumer Cyclical - Services—0.3%** |  |
| &nbsp;&nbsp; 10000000 | Amazon.com, Inc., Sr. Unsecd. Note, 3.900%, 11/20/2028 | &nbsp;&nbsp; 10033292 |
|  | **Consumer Non-Cyclical - Food/Beverage—0.3%** |  |
| &nbsp;&nbsp; 1820000<br><sup>3</sup> <br>| Constellation Brands, Inc., Sr. Unsecd. Note, 4.800%, 5/1/2030 | &nbsp;&nbsp; 1851019 |
| &nbsp;&nbsp; 1272000<br><sup>1</sup> <br>| Keurig Dr Pepper, Inc., 4.603% (SOFR - SOFR Compounded +0.880%), 3/15/2027 | &nbsp;&nbsp; 1274195 |
| &nbsp;&nbsp; 6070000 | Tyson Foods, Inc., Sr. Unsecd. Note, 5.400%, 3/15/2029 | &nbsp;&nbsp; 6277507 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9402721 |
|  | **Consumer Non-Cyclical - Health Care—0.4%** |  |
| &nbsp;&nbsp; 3340000 | CVS Health Corp., Sr. Unsecd. Note, 5.000%, 2/20/2026 | &nbsp;&nbsp; 3341314 |
| &nbsp;&nbsp; 1715000 | GE HealthCare Technologies, Inc., Sr. Unsecd. Note, 4.150%, 12/15/2028 | &nbsp;&nbsp; 1719957 |
| &nbsp;&nbsp; 5385000<br><sup>1</sup> <br>| HCA, Inc., Sr. Unsecd. Note, 4.641% (SOFR +0.870%), 3/1/2028 | &nbsp;&nbsp; 5421491 |
| &nbsp;&nbsp; 4600000 | HCA, Inc., Sr. Unsecd. Note, 5.200%, 6/1/2028 | &nbsp;&nbsp; 4713936 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15196698 |
|  | **Consumer Non-Cyclical - Pharmaceuticals—0.2%** |  |
| &nbsp;&nbsp; 3420000 | Bayer U.S. Finance LLC, Sr. Unsecd. Note, 144A, 6.125%, 11/21/2026 | &nbsp;&nbsp; 3470097 |

---

**6**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Consumer Non-Cyclical - Pharmaceuticals—continued** |  |
| $2630000<br><sup>1</sup> <br>| Pfizer, Inc., Sr. Unsecd. Note, 4.292% (SOFR +0.500%), 11/15/2027 | &nbsp;&nbsp; $2638897 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6108994 |
|  | **Consumer Non-Cyclical - Tobacco—0.2%** |  |
| &nbsp;&nbsp; 8335000<br><sup>1</sup> <br>| Philip Morris International, Inc., Sr. Unsecd. Note, 4.538% (SOFR +0.660%), 10/27/2028 | &nbsp;&nbsp; 8346790 |
|  | **Energy - Midstream—1.0%** |  |
| &nbsp;&nbsp; 2825000 | Columbia Pipeline Holding Co. LLC, Sr. Unsecd. Note, 144A, 6.055%, 8/15/2026 | &nbsp;&nbsp; 2851706 |
| &nbsp;&nbsp; 10000000 | Enbridge, Inc., Sr. Unsecd. Note, 4.200%, 11/20/2028 | &nbsp;&nbsp; 10019632 |
| &nbsp;&nbsp; 1555000 | Enbridge, Inc., Sr. Unsecd. Note, 5.900%, 11/15/2026 | &nbsp;&nbsp; 1578080 |
| &nbsp;&nbsp; 5970000 | MPLX LP, Sr. Unsecd. Note, 4.800%, 2/15/2031 | &nbsp;&nbsp; 6041447 |
| &nbsp;&nbsp; 6130000 | National Fuel Gas Co., Sr. Unsecd. Note, 5.500%, 10/1/2026 | &nbsp;&nbsp; 6192754 |
| &nbsp;&nbsp; 5895000 | ONEOK, Inc., Sr. Unsecd. Note, 5.550%, 11/1/2026 | &nbsp;&nbsp; 5960658 |
| &nbsp;&nbsp; 4805000 | Targa Resources, Inc., Sr. Unsecd. Note, 4.900%, 9/15/2030 | &nbsp;&nbsp; 4903122 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37547399 |
|  | **Financial Institution - Banking—11.4%** |  |
| &nbsp;&nbsp; 21550000<br><sup>1</sup> <br>| American Express Co., Sr. Unsecd. Note, 4.498% (SOFR +0.650%), 11/4/2026 | &nbsp;&nbsp; 21629994 |
| &nbsp;&nbsp; 6000000<br><sup>1</sup> <br>| American Express Co., Sr. Unsecd. Note, 5.158% (SOFR +1.260%), 4/25/2029 | &nbsp;&nbsp; 6077675 |
| &nbsp;&nbsp; 4120000<br><sup>1</sup> <br>| Aust & NZ Banking Group, Sr. Unsecd. Note, 144A, 4.330% (SOFR +0.590%), 12/8/2028 | &nbsp;&nbsp; 4129811 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| Australia & New Zealand Banking Group Ltd., Sr. Unsecd. Note, 144A, 4.573% (SOFR +0.850%), 12/16/2029 | &nbsp;&nbsp; 10125124 |
| &nbsp;&nbsp; 15000000<br><sup>1</sup> <br>| Bank of America Corp., Sr. Unsecd. Note, 4.871% (SOFR +0.970%), 7/22/2027 | &nbsp;&nbsp; 15060161 |
| &nbsp;&nbsp; 5000000<br><sup>1</sup> <br>| Bank of America Corp., Sr. Unsecd. Note, Series frn, 4.717% (SOFR +0.830%), 1/24/2029 | &nbsp;&nbsp; 5008669 |
| &nbsp;&nbsp; 5000000<br><sup>1</sup> <br>| Bank of America N.A., Sr. Unsecd. Note, 4.823% (SOFR +1.020%), 8/18/2026 | &nbsp;&nbsp; 5022020 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| Bank of Montreal, Sr. Unsecd. Note, Series MTN, 4.343% (SOFR +0.620%), 9/15/2026 | &nbsp;&nbsp; 10024248 |
| &nbsp;&nbsp; 15000000<br><sup>1</sup> <br>| Bank of New Zealand, Sr. Unsecd. Note, 144A, 4.702% (SOFR +0.810%), 1/27/2027 | &nbsp;&nbsp; 15061123 |
| &nbsp;&nbsp; 20000000<br><sup>1</sup> <br>| Bank of Nova Scotia, Sr. Unsecd. Note, 4.333% (SOFR +0.610%), 9/15/2026 | &nbsp;&nbsp; 20062764 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| BNP Paribas S.A., 144A, 5.254% (SOFR +1.430%), 5/9/2029 | &nbsp;&nbsp; 10117019 |
| &nbsp;&nbsp; 6250000<br><sup>1</sup> <br>| Canadian Imperial Bank of Commerce, Sr. Sub. Secd. Note, 4.540% (SOFR +0.800%), 9/8/2028 | &nbsp;&nbsp; 6262962 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| Canadian Imperial Bank of Commerce, Sr. Unsecd. Note, 4.690% (SOFR +0.720%), 1/13/2028 | &nbsp;&nbsp; 10015869 |
| &nbsp;&nbsp; 5000000<br><sup>1</sup> <br>| Citibank, N.A., Sr. Unsecd. Note, 4.506% (SOFR +0.712%), 11/19/2027 | &nbsp;&nbsp; 5011594 |
| &nbsp;&nbsp; 7690000<br><sup>1</sup> <br>| Citibank, N.A., Sr. Unsecd. Note, 4.531% (SOFR +0.708%), 8/6/2026 | &nbsp;&nbsp; 7704383 |
| &nbsp;&nbsp; 15000000<br><sup>1</sup> <br>| Citigroup, Inc., Sr. Unsecd. Note, 4.507% (SOFR +0.770%), 6/9/2027 | &nbsp;&nbsp; 15019918 |
| &nbsp;&nbsp; 8000000<br><sup>1</sup> <br>| Citigroup, Inc., Sr. Unsecd. Note, 5.067% (SOFR +1.280%), 2/24/2028 | &nbsp;&nbsp; 8063666 |
| &nbsp;&nbsp; 3770000 | Citizens Financial Group, Inc., Sr. Unsecd. Note, 5.841%, 1/23/2030 | &nbsp;&nbsp; 3932875 |
| &nbsp;&nbsp; 3675000 | Comerica, Inc., Sr. Unsecd. Note, 5.982%, 1/30/2030 | &nbsp;&nbsp; 3834475 |
| &nbsp;&nbsp; 5000000<br><sup>1</sup> <br>| Commonwealth Bank of Australia, Sr. Unsecd. Note, 144A, 4.790% (SOFR +0.780%), 10/1/2030 | &nbsp;&nbsp; 5038055 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| Credit Agricole S.A., 144A, 5.109% (SOFR +1.130%), 1/9/2029 | &nbsp;&nbsp; 10054324 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| Deutsche Bank AG New York, 5.148% (SOFR +1.300%), 8/4/2031 | &nbsp;&nbsp; 9985421 |
| &nbsp;&nbsp; 8825000<br><sup>1</sup> <br>| Fifth Third Bank, Inc., Sr. Unsecd. Note, 4.697% (SOFR +0.810%), 1/28/2028 | &nbsp;&nbsp; 8844569 |
| &nbsp;&nbsp; 12275000<br><sup>1</sup> <br>| Goldman Sachs Group, Inc., Sr. Unsecd. Note, 4.849% (SOFR +0.920%), 10/21/2027 | &nbsp;&nbsp; 12318517 |
| &nbsp;&nbsp; 9375000<br><sup>1</sup> <br>| Goldman Sachs Group, Inc., Sr. Unsecd. Note, 4.907% (SOFR +1.120%), 2/24/2028 | &nbsp;&nbsp; 9435752 |
| &nbsp;&nbsp; 5000000<br><sup>1</sup> <br>| Huntington National Bank, Sr. Unsecd. Note, 4.692% (SOFR +0.726%), 4/12/2028 | &nbsp;&nbsp; 4994871 |
| &nbsp;&nbsp; 12500000<br><sup>1</sup> <br>| JPMorgan Chase & Co., Sr. Unsecd. Note, 4.490% (SOFR +0.765%), 9/22/2027 | &nbsp;&nbsp; 12532915 |
| &nbsp;&nbsp; 19950000<br><sup>1</sup> <br>| JPMorgan Chase & Co., Sr. Unsecd. Note, Series FRN, 4.701% (SOFR +0.800%), 1/24/2029 | &nbsp;&nbsp; 19998339 |
| &nbsp;&nbsp; 2665000 | M&T Bank Corp., Sr. Unsecd. Note, Series MTN, 4.833%, 1/16/2029 | &nbsp;&nbsp; 2708081 |
| &nbsp;&nbsp; 6000000<br><sup>1</sup> <br>| Morgan Stanley Bank, N.A., Sr. Unsecd. Note, Series BKNT, 5.026% (SOFR +1.080%), 1/14/2028 | &nbsp;&nbsp; 6041997 |
| &nbsp;&nbsp; 6000000<br><sup>1</sup> <br>| Morgan Stanley, Sr. Unsecd. Note, 4.577% (SOFR +0.780%), 11/17/2028 | &nbsp;&nbsp; 6015610 |
| &nbsp;&nbsp; 20000000<br><sup>1</sup> <br>| Morgan Stanley, Sr. Unsecd. Note, Series MTN, 4.968% (SOFR +1.020%), 4/13/2028 | &nbsp;&nbsp; 20087108 |
| &nbsp;&nbsp; 7000000<br><sup>1</sup> <br>| National Australia Bank Ltd., Sr. Unsecd. Note, 144A, 4.752% (SOFR +0.790%), 1/14/2030 | &nbsp;&nbsp; 7058484 |
| &nbsp;&nbsp; 5000000<br><sup>1</sup> <br>| Natwest Group PLC, Sr. Unsecd. Note, 4.887% (SOFR +1.100%), 5/23/2029 | &nbsp;&nbsp; 5024280 |
| &nbsp;&nbsp; 9000000<br><sup>1</sup> <br>| NatWest Markets PLC, Sr. Unsecd. Note, 144A, 4.488% (SOFR +0.760%), 9/29/2026 | &nbsp;&nbsp; 9025840 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| PNC Bank, N.A., Sr. Unsecd. Note, 4.458% (SOFR +0.500%), 1/15/2027 | &nbsp;&nbsp; 10012327 |

---

**7**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Financial Institution - Banking—continued** |  |
| $3865000 | PNC Financial Services Group, Inc., Sr. Unsecd. Note, 6.615%, 10/20/2027 | &nbsp;&nbsp; $3943126 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| Royal Bank of Canada, Sr. Unsecd. Note, Series GMTN, 4.731% (SOFR +0.830%), 1/24/2029 | &nbsp;&nbsp; 10028181 |
| &nbsp;&nbsp; 4500000<br><sup>1</sup> <br>| Royal Bank of Canada, Sr. Unsecd. Note, Series GMTN, 4.886% (SOFR - SOFR Compounded +0.950%), 1/19/2027 | &nbsp;&nbsp; 4530144 |
| &nbsp;&nbsp; 6000000<br><sup>1</sup> <br>| Standard Chartered PLC, Sr. Unsecd. Note, 144A, 5.493% (SOFR +1.680%), 5/13/2031 | &nbsp;&nbsp; 6147592 |
| &nbsp;&nbsp; 2285000<br><sup>1</sup> <br>| State Street Corp., Sr. Unsecd. Note, 4.851% (SOFR +0.950%), 4/24/2028 | &nbsp;&nbsp; 2299409 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| Toronto Dominion Bank, Sr. Unsecd. Note, 4.754% (SOFR +1.030%), 12/17/2029 | &nbsp;&nbsp; 10085897 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| Truist Bank, Sr. Unsecd. Note, 4.671% (SOFR +0.770%), 7/24/2028 | &nbsp;&nbsp; 10001084 |
| &nbsp;&nbsp; 8000000 | U.S. Bank, N.A., Sr. Unsecd. Note, 4.730%, 5/15/2028 | &nbsp;&nbsp; 8081497 |
| &nbsp;&nbsp; 13045000<br><sup>1</sup> <br>| Wells Fargo & Co., Sr. Unsecd. Note, 4.681% (SOFR +0.780%), 1/24/2028 | &nbsp;&nbsp; 13077512 |
| &nbsp;&nbsp; 6000000<br><sup>1</sup> <br>| Wells Fargo Bank, N.A., Sr. Unsecd. Note, 4.797% (SOFR +1.070%), 12/11/2026 | &nbsp;&nbsp; 6042187 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 415577469 |
|  | **Financial Institution - Finance Companies—0.7%** |  |
| &nbsp;&nbsp; 7000000 | AerCap Ireland Capital Ltd. / AerCap Global Aviation Trust, Sr. Unsecd. Note, 5.750%, 6/6/2028 | &nbsp;&nbsp; 7255568 |
| &nbsp;&nbsp; 7000000 | Air Lease Corp., Sr. Unsecd. Note, 5.100%, 3/1/2029 | &nbsp;&nbsp; 7116193 |
| &nbsp;&nbsp; 6200000 | Aircastle Ltd., Sr. Secd. Note, 144A, 5.000%, 9/15/2030 | &nbsp;&nbsp; 6268400 |
| &nbsp;&nbsp; 4210000 | Ally Financial, Inc., Sr. Unsecd. Note, 5.737%, 5/15/2029 | &nbsp;&nbsp; 4318207 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24958368 |
|  | **Financial Institution - Insurance - Life—1.0%** |  |
| &nbsp;&nbsp; 5000000 | CoreBridge Global Funding, Sec. Fac. Bond, 144A, 5.200%, 1/12/2029 | &nbsp;&nbsp; 5134367 |
| &nbsp;&nbsp; 10000000<br><sup>1</sup> <br>| MassMutual Global Funding II, Sec. Fac. Bond, 144A, 4.719% (SOFR +0.740%), 4/9/2027 | &nbsp;&nbsp; 10041944 |
| &nbsp;&nbsp; 6000000 | Met Tower Global Funding, Sec. Fac. Bond, 144A, 4.850%, 1/16/2027 | &nbsp;&nbsp; 6055282 |
| &nbsp;&nbsp; 7690000<br><sup>1</sup> <br>| Metropolitan Life Global Funding I, Sec. Fac. Bond, 144A, 4.427% (SOFR +0.700%), 6/11/2027 | &nbsp;&nbsp; 7723160 |
| &nbsp;&nbsp; 6855000<br><sup>1,3</sup> <br>| Metropolitan Life Global Funding I, Secured Note, 144A, 4.484% (SOFR +0.700%), 8/25/2028 | &nbsp;&nbsp; 6884749 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35839502 |
|  | **Financial Institution - Insurance - P&C—0.2%** |  |
| &nbsp;&nbsp; 4500000 | Aon North America, Inc., Sr. Unsecd. Note, 5.125%, 3/1/2027 | &nbsp;&nbsp; 4557442 |
| &nbsp;&nbsp; 2940000<br><sup>1</sup> <br>| Marsh & McLennan Cos., Inc., Sr. Unsecd. Note, 4.524% (SOFR +0.700%), 11/8/2027 | &nbsp;&nbsp; 2957938 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7515380 |
|  | **Financial Institution - REIT - Other—0.1%** |  |
| &nbsp;&nbsp; 3835000 | Host Hotels & Resorts LP, Sr. Unsecd. Note, 4.250%, 12/15/2028 | &nbsp;&nbsp; 3839648 |
|  | **Technology—1.8%** |  |
| &nbsp;&nbsp; 7000000<br><sup>1</sup> <br>| Alphabet, Inc., Sr. Unsecd. Note, 4.342% (SOFR +0.520%), 11/15/2028 | &nbsp;&nbsp; 7073539 |
| &nbsp;&nbsp; 9570000<br><sup>3</sup> <br>| Broadcom, Inc., Sr. Unsecd. Note, 5.050%, 7/12/2027 | &nbsp;&nbsp; 9746392 |
| &nbsp;&nbsp; 15340000 | Concentrix Corp., Sr. Unsecd. Note, 6.650%, 8/2/2026 | &nbsp;&nbsp; 15492520 |
| &nbsp;&nbsp; 6350000 | Dell International LLC / EMC Corp., Sr. Unsecd. Note, 4.150%, 2/15/2029 | &nbsp;&nbsp; 6344982 |
| &nbsp;&nbsp; 9860000 | Global Payments, Inc., Sr. Unsecd. Note, 4.500%, 11/15/2028 | &nbsp;&nbsp; 9880212 |
| &nbsp;&nbsp; 15000000<br><sup>1</sup> <br>| Oracle Corp., Sr. Unsecd. Note, 4.614% (SOFR +0.760%), 8/3/2028 | &nbsp;&nbsp; 14806753 |
| &nbsp;&nbsp; 2380000 | Roper Technologies, Inc., Sr. Unsecd. Note, 4.450%, 9/15/2030 | &nbsp;&nbsp; 2391672 |
| &nbsp;&nbsp; 1350000 | Verisk Analytics, Inc., Sr. Unsecd. Note, 4.500%, 8/15/2030 | &nbsp;&nbsp; 1360826 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67096896 |
|  | **Transportation - Services—0.1%** |  |
| &nbsp;&nbsp; 1985000 | Penske Truck Leasing Co. LP & PTL Finance Corp., Sr. Unsecd. Note, 144A, 5.350%, 1/12/2027 | &nbsp;&nbsp; 2008238 |
|  | **Utility - Electric—0.7%** |  |
| &nbsp;&nbsp; 7450000 | Black Hills Corp., Sr. Unsecd. Note, 4.550%, 1/31/2031 | &nbsp;&nbsp; 7454930 |
| &nbsp;&nbsp; 3385000 | Electricite de France S.A., Sr. Unsecd. Note, 144A, 5.700%, 5/23/2028 | &nbsp;&nbsp; 3498673 |
| &nbsp;&nbsp; 7140000 | Enel Finance International NV, Sr. Unsecd. Note, 144A, 4.125%, 9/30/2028 | &nbsp;&nbsp; 7129400 |
| &nbsp;&nbsp; 7230000<br><sup>1</sup> <br>| NextEra Energy Capital Holdings, Inc., Sr. Unsecd. Note, 4.648% (SOFR +0.800%), 2/4/2028 | &nbsp;&nbsp; 7257325 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25340328 |

---

**8**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Utility - Natural Gas—0.3%** |  |
| $10000000 | Sempra Energy, Sr. Unsecd. Note, 5.400%, 8/1/2026 | &nbsp;&nbsp; $10065872 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL CORPORATE BONDS <br>(IDENTIFIED COST $886,730,109)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 892603684 |
|  | COLLATERALIZED MORTGAGE OBLIGATIONS—15.8% |  |
| <sup>1</sup> <br>| **Federal Home Loan Mortgage Corporation—5.8%** |  |
| &nbsp;&nbsp; 476412 | Federal Home Loan Mortgage Corp. REMIC, Series 2819, Class F, 4.498% (30-DAY AVERAGE SOFR +0.514%), 6/15/2034 | &nbsp;&nbsp; 475899 |
| &nbsp;&nbsp; 310288 | Federal Home Loan Mortgage Corp. REMIC, Series 3084, Class XF, 4.618% (30-DAY AVERAGE SOFR <br> +0.634%), 12/15/2035<br>| &nbsp;&nbsp; 309140 |
| &nbsp;&nbsp; 87318 | Federal Home Loan Mortgage Corp. REMIC, Series 3152, Class WF, 4.558% (30-DAY AVERAGE SOFR <br> +0.574%), 2/15/2034<br>| &nbsp;&nbsp; 87084 |
| &nbsp;&nbsp; 358667 | Federal Home Loan Mortgage Corp. REMIC, Series 3153, Class EF, 4.508% (30-DAY AVERAGE SOFR <br> +0.524%), 5/15/2036<br>| &nbsp;&nbsp; 356932 |
| &nbsp;&nbsp; 136506 | Federal Home Loan Mortgage Corp. REMIC, Series 3153, Class FJ, 4.478% (30-DAY AVERAGE SOFR <br> +0.494%), 5/15/2036<br>| &nbsp;&nbsp; 136051 |
| &nbsp;&nbsp; 77400 | Federal Home Loan Mortgage Corp. REMIC, Series 3156, Class HF, 4.583% (30-DAY AVERAGE SOFR <br> +0.599%), 8/15/2035<br>| &nbsp;&nbsp; 77043 |
| &nbsp;&nbsp; 30585 | Federal Home Loan Mortgage Corp. REMIC, Series 3191, Class FE, 4.498% (30-DAY AVERAGE SOFR <br> +0.514%), 7/15/2036<br>| &nbsp;&nbsp; 30311 |
| &nbsp;&nbsp; 131810 | Federal Home Loan Mortgage Corp. REMIC, Series 3211, Class FN, 4.398% (30-DAY AVERAGE SOFR <br> +0.414%), 9/15/2036<br>| &nbsp;&nbsp; 130277 |
| &nbsp;&nbsp; 135208 | Federal Home Loan Mortgage Corp. REMIC, Series 3317, Class F, 4.498% (30-DAY AVERAGE SOFR +0.514%), 7/15/2036 | &nbsp;&nbsp; 133787 |
| &nbsp;&nbsp; 38331 | Federal Home Loan Mortgage Corp. REMIC, Series 3320, Class FM, 4.498% (30-DAY AVERAGE SOFR <br> +0.514%), 7/15/2036<br>| &nbsp;&nbsp; 38039 |
| &nbsp;&nbsp; 27873 | Federal Home Loan Mortgage Corp. REMIC, Series 3339, Class AF, 4.548% (30-DAY AVERAGE SOFR <br> +0.564%), 7/15/2037<br>| &nbsp;&nbsp; 27643 |
| &nbsp;&nbsp; 579870 | Federal Home Loan Mortgage Corp. REMIC, Series 3382, Class FG, 4.698% (30-DAY AVERAGE SOFR <br> +0.714%), 11/15/2037<br>| &nbsp;&nbsp; 577675 |
| &nbsp;&nbsp; 456287 | Federal Home Loan Mortgage Corp. REMIC, Series 3387, Class PF, 4.518% (30-DAY AVERAGE SOFR <br> +0.534%), 11/15/2037<br>| &nbsp;&nbsp; 453344 |
| &nbsp;&nbsp; 52384 | Federal Home Loan Mortgage Corp. REMIC, Series 3542, Class NF, 4.848% (30-DAY AVERAGE SOFR <br> +0.864%), 7/15/2036<br>| &nbsp;&nbsp; 52532 |
| &nbsp;&nbsp; 142656 | Federal Home Loan Mortgage Corp. REMIC, Series 3556, Class FA, 5.008% (30-DAY AVERAGE SOFR <br> +1.024%), 7/15/2037<br>| &nbsp;&nbsp; 144079 |
| &nbsp;&nbsp; 784125 | Federal Home Loan Mortgage Corp. REMIC, Series 3843, Class FB, 4.428% (30-DAY AVERAGE SOFR <br> +0.444%), 4/15/2041<br>| &nbsp;&nbsp; 782871 |
| &nbsp;&nbsp; 726423 | Federal Home Loan Mortgage Corp. REMIC, Series 4238, Class FT, 4.448% (30-DAY AVERAGE SOFR <br> +0.464%), 8/15/2043<br>| &nbsp;&nbsp; 718418 |
| &nbsp;&nbsp; 13769533 | Federal Home Loan Mortgage Corp. REMIC, Series 4494, Class FL, 4.378% (30-DAY AVERAGE SOFR <br> +0.394%), 7/15/2045<br>| &nbsp;&nbsp; 13536842 |
| &nbsp;&nbsp; 741217 | Federal Home Loan Mortgage Corp. REMIC, Series 4604, Class FB, 4.498% (30-DAY AVERAGE SOFR <br> +0.514%), 8/15/2046<br>| &nbsp;&nbsp; 732695 |
| &nbsp;&nbsp; 1391642 | Federal Home Loan Mortgage Corp. REMIC, Series 4703, Class FA, 4.448% (30-DAY AVERAGE SOFR <br> +0.464%), 7/15/2047<br>| &nbsp;&nbsp; 1359858 |
| &nbsp;&nbsp; 9612464 | Federal Home Loan Mortgage Corp. REMIC, Series 4901, Class BF, 4.388% (30-DAY AVERAGE SOFR <br> +0.514%), 7/25/2049<br>| &nbsp;&nbsp; 9520660 |
| &nbsp;&nbsp; 2933447 | Federal Home Loan Mortgage Corp. REMIC, Series 4916, Class FA, 4.388% (30-DAY AVERAGE SOFR <br> +0.514%), 9/25/2049<br>| &nbsp;&nbsp; 2908242 |
| &nbsp;&nbsp; 14514098 | Federal Home Loan Mortgage Corp. REMIC, Series 4920, Class FA, 4.438% (30-DAY AVERAGE SOFR <br> +0.564%), 10/25/2049<br>| &nbsp;&nbsp; 14318486 |
| &nbsp;&nbsp; 10999075 | Federal Home Loan Mortgage Corp. REMIC, Series 4988, Class KF, 4.338% (30-DAY AVERAGE SOFR <br> +0.464%), 7/25/2050<br>| &nbsp;&nbsp; 10881342 |
| &nbsp;&nbsp; 25924637 | Federal Home Loan Mortgage Corp. REMIC, Series 4993, Class F, 4.438% (30-DAY AVERAGE SOFR +0.564%), 7/25/2050 | &nbsp;&nbsp; 25174505 |
| &nbsp;&nbsp; 6119994 | Federal Home Loan Mortgage Corp. REMIC, Series 5057, Class FH, 4.124% (30-DAY AVERAGE SOFR <br> +0.250%), 12/25/2050<br>| &nbsp;&nbsp; 5763661 |
| &nbsp;&nbsp; 28414971 | Federal Home Loan Mortgage Corp. REMIC, Series 5396, Class FQ, 4.874% (30-DAY AVERAGE SOFR <br> +1.000%), 4/25/2054<br>| &nbsp;&nbsp; 28398720 |

---

**9**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | COLLATERALIZED MORTGAGE OBLIGATIONS—continued |  |
| <sup>1</sup> <br>| **Federal Home Loan Mortgage Corporation—continued** |  |
| $14496179 | Federal Home Loan Mortgage Corp. REMIC, Series 5417, Class FC, 5.074% (30-DAY AVERAGE SOFR <br> +1.200%), 6/25/2054<br>| &nbsp;&nbsp; $14573744 |
| &nbsp;&nbsp; 9969430 | Federal Home Loan Mortgage Corp. REMIC, Series 5426, Class FB, 5.074% (30-DAY AVERAGE SOFR <br> +1.200%), 6/25/2054<br>| &nbsp;&nbsp; 10007870 |
| &nbsp;&nbsp; 20537272 | Federal Home Loan Mortgage Corp. REMIC, Series 5449, Class FE, 4.974% (30-DAY AVERAGE SOFR <br> +1.100%), 7/25/2054<br>| &nbsp;&nbsp; 20619797 |
| &nbsp;&nbsp; 18928225 | Federal Home Loan Mortgage Corp. REMIC, Series 5474, Class FB, 5.024% (30-DAY AVERAGE SOFR <br> +1.150%), 11/25/2054<br>| &nbsp;&nbsp; 18922153 |
| &nbsp;&nbsp; 20130759 | Federal Home Loan Mortgage Corp. REMIC, Series FHR, Class GF, 4.824% (30-DAY AVERAGE SOFR <br> +0.950%), 7/25/2054<br>| &nbsp;&nbsp; 20156217 |
| &nbsp;&nbsp; 8978487 | Federal Home Loan Mortgage Corp. REMIC, Series K-F121, Class AS, 4.188% (30-DAY AVERAGE SOFR <br> +0.180%), 8/25/2028<br>| &nbsp;&nbsp; 8926047 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 210331964 |
| <sup>1</sup> <br>| **Federal National Mortgage Association—4.5%** |  |
| &nbsp;&nbsp; 42388 | Federal National Mortgage Association REMIC, Series 2002-77, Class FA, 5.051% (30-DAY AVERAGE SOFR <br> +1.114%), 12/18/2032<br>| &nbsp;&nbsp; 42682 |
| &nbsp;&nbsp; 94599 | Federal National Mortgage Association REMIC, Series 2006-44, Class FK, 4.418% (30-DAY AVERAGE SOFR <br> +0.544%), 6/25/2036<br>| &nbsp;&nbsp; 94368 |
| &nbsp;&nbsp; 537203 | Federal National Mortgage Association REMIC, Series 2006-61, Class FQ, 4.388% (30-DAY AVERAGE SOFR <br> +0.514%), 7/25/2036<br>| &nbsp;&nbsp; 533851 |
| &nbsp;&nbsp; 106721 | Federal National Mortgage Association REMIC, Series 2006-79, Class DF, 4.338% (30-DAY AVERAGE SOFR <br> +0.464%), 8/25/2036<br>| &nbsp;&nbsp; 105929 |
| &nbsp;&nbsp; 395713 | Federal National Mortgage Association REMIC, Series 2006-81, Class FB, 4.338% (30-DAY AVERAGE SOFR <br> +0.464%), 9/25/2036<br>| &nbsp;&nbsp; 392382 |
| &nbsp;&nbsp; 163541 | Federal National Mortgage Association REMIC, Series 2006-119, Class CF, 4.288% (30-DAY AVERAGE SOFR <br> +0.414%), 12/25/2036<br>| &nbsp;&nbsp; 161883 |
| &nbsp;&nbsp; 237063 | Federal National Mortgage Association REMIC, Series 2006-W1, Class 2AF1, 4.208% (30-DAY AVERAGE SOFR <br> +0.334%), 2/25/2046<br>| &nbsp;&nbsp; 234982 |
| &nbsp;&nbsp; 1819318 | Federal National Mortgage Association REMIC, Series 2007-22, Class FQ, 4.218% (30-DAY AVERAGE SOFR <br> +0.344%), 3/25/2037<br>| &nbsp;&nbsp; 1794768 |
| &nbsp;&nbsp; 206284 | Federal National Mortgage Association REMIC, Series 2007-88, Class FY, 4.448% (30-DAY AVERAGE SOFR <br> +0.574%), 9/25/2037<br>| &nbsp;&nbsp; 204483 |
| &nbsp;&nbsp; 117895 | Federal National Mortgage Association REMIC, Series 2007-97, Class FE, 4.438% (30-DAY AVERAGE SOFR <br> +0.564%), 7/25/2037<br>| &nbsp;&nbsp; 116986 |
| &nbsp;&nbsp; 56775 | Federal National Mortgage Association REMIC, Series 2008-69, Class FB, 4.988% (30-DAY AVERAGE SOFR <br> +1.114%), 6/25/2037<br>| &nbsp;&nbsp; 57375 |
| &nbsp;&nbsp; 8073 | Federal National Mortgage Association REMIC, Series 2009-63, Class FB, 4.488% (30-DAY AVERAGE SOFR <br> +0.614%), 8/25/2039<br>| &nbsp;&nbsp; 8065 |
| &nbsp;&nbsp; 145295 | Federal National Mortgage Association REMIC, Series 2009-69, Class F, 4.838% (30-DAY AVERAGE SOFR <br> +0.964%), 4/25/2037<br>| &nbsp;&nbsp; 146200 |
| &nbsp;&nbsp; 3082112 | Federal National Mortgage Association REMIC, Series 2010-111, Class FM, 4.388% (30-DAY AVERAGE SOFR <br> +0.514%), 10/25/2040<br>| &nbsp;&nbsp; 3071427 |
| &nbsp;&nbsp; 1305913 | Federal National Mortgage Association REMIC, Series 2017-24, Class FB, 4.338% (30-DAY AVERAGE SOFR <br> +0.464%), 4/25/2047<br>| &nbsp;&nbsp; 1282605 |
| &nbsp;&nbsp; 13371225 | Federal National Mortgage Association REMIC, Series 2018-85, Class FE, 4.288% (30-DAY AVERAGE SOFR <br> +0.414%), 12/25/2048<br>| &nbsp;&nbsp; 13167766 |
| &nbsp;&nbsp; 946673 | Federal National Mortgage Association REMIC, Series 2019-31, Class FA, 4.388% (30-DAY AVERAGE SOFR <br> +0.514%), 7/25/2049<br>| &nbsp;&nbsp; 938436 |
| &nbsp;&nbsp; 10597280 | Federal National Mortgage Association REMIC, Series 2019-50, Class FA, 4.438% (30-DAY AVERAGE SOFR <br> +0.564%), 9/25/2049<br>| &nbsp;&nbsp; 10476201 |
| &nbsp;&nbsp; 4930108 | Federal National Mortgage Association REMIC, Series 2020-47, Class FH, 4.388% (30-DAY AVERAGE SOFR <br> +0.514%), 7/25/2050<br>| &nbsp;&nbsp; 4811687 |
| &nbsp;&nbsp; 8425093 | Federal National Mortgage Association REMIC, Series 2020-68, Class FB, 4.288% (30-DAY AVERAGE SOFR <br> +0.414%), 10/25/2060<br>| &nbsp;&nbsp; 8058329 |
| &nbsp;&nbsp; 23673706 | Federal National Mortgage Association REMIC, Series 2024-22, Class FB, 4.874% (30-DAY AVERAGE SOFR <br> +1.000%), 5/25/2054<br>| &nbsp;&nbsp; 23738324 |
| &nbsp;&nbsp; 28277982 | Federal National Mortgage Association REMIC, Series 2025-18, Class KF, 4.824% (30-DAY AVERAGE SOFR <br> +0.950%), 3/25/2055<br>| &nbsp;&nbsp; 28241229 |

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**10**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | COLLATERALIZED MORTGAGE OBLIGATIONS—continued |  |
| <sup>1</sup> <br>| **Federal National Mortgage Association—continued** |  |
| $16231276 | Federal National Mortgage Association REMIC, Series 2025-28, Class FM, 5.124% (30-DAY AVERAGE SOFR <br> +1.250%), 4/25/2055<br>| &nbsp;&nbsp; $16307135 |
| &nbsp;&nbsp; 23499235 | Federal National Mortgage Association REMIC, Series 2025-62, Class FM, 5.174% (30-DAY AVERAGE SOFR <br> +1.300%), 8/25/2055<br>| &nbsp;&nbsp; 23642089 |
| &nbsp;&nbsp; 29116137 | Federal National Mortgage Association REMIC, Series 2025-70, Class FD, 4.274% (30-DAY AVERAGE SOFR <br> +0.400%), 1/25/2050<br>| &nbsp;&nbsp; 28720102 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 166349284 |
| <sup>1</sup> <br>| **Government National Mortgage Association—4.8%** |  |
| &nbsp;&nbsp; 588040 | Government National Mortgage Association REMIC, Series 2012-H31, Class FA, 4.464% (CME Term SOFR 1 Month <br> +0.464%), 11/20/2062<br>| &nbsp;&nbsp; 587034 |
| &nbsp;&nbsp; 341420 | Government National Mortgage Association REMIC, Series 2013-H16, Class FA, 4.654% (CME Term SOFR 1 Month <br> +0.654%), 7/20/2063<br>| &nbsp;&nbsp; 341722 |
| &nbsp;&nbsp; 173463 | Government National Mortgage Association REMIC, Series 2013-H17, Class FA, 4.664% (CME Term SOFR 1 Month <br> +0.664%), 7/20/2063<br>| &nbsp;&nbsp; 173649 |
| &nbsp;&nbsp; 22438091 | Government National Mortgage Association REMIC, Series 2023-65, Class FQ, 4.817% (30-DAY AVERAGE SOFR <br> +0.900%), 5/20/2053<br>| &nbsp;&nbsp; 22435008 |
| &nbsp;&nbsp; 22340480 | Government National Mortgage Association REMIC, Series 2023, Class DF, 4.897% (30-DAY AVERAGE SOFR <br> +0.980%), 6/20/2053<br>| &nbsp;&nbsp; 22394325 |
| &nbsp;&nbsp; 29874738 | Government National Mortgage Association REMIC, Series 2024-114, Class FA, 5.345% (30-DAY AVERAGE SOFR <br> +1.000%), 7/20/2054<br>| &nbsp;&nbsp; 29882198 |
| &nbsp;&nbsp; 27898807 | Government National Mortgage Association REMIC, Series 2024-64, Class FM, 4.967% (30-DAY AVERAGE SOFR <br> +1.050%), 4/20/2054<br>| &nbsp;&nbsp; 27942946 |
| &nbsp;&nbsp; 16008704 | Government National Mortgage Association REMIC, Series 2024-77, Class FL, 5.451% (30-DAY AVERAGE SOFR <br> +1.150%), 5/20/2054<br>| &nbsp;&nbsp; 16030144 |
| &nbsp;&nbsp; 33837374 | Government National Mortgage Association REMIC, Series 2025-169, Class AF, 4.917% (30-DAY AVERAGE SOFR <br> +1.000%), 10/20/2055<br>| &nbsp;&nbsp; 33980764 |
| &nbsp;&nbsp; 19977661 | Government National Mortgage Association REMIC, Series 2025-198, Class FH, 4.867% (30-DAY AVERAGE SOFR <br> +0.950%), 11/20/2055<br>| &nbsp;&nbsp; 20031399 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 173799189 |
|  | **Non-Agency Mortgage—0.7%** |  |
| &nbsp;&nbsp; 16004077 | Chase Mortgage Finance Corp. 2023-1, Class A4, 6.000%, 6/25/2054 | &nbsp;&nbsp; 16185502 |
| &nbsp;&nbsp; 69384<br><sup>1</sup> <br>| Countrywide Alternative Loan Trust 2005-51, Class 3AB3, 4.948% (CME Term SOFR 1 Month +1.214%), 11/20/2035 | &nbsp;&nbsp; 53030 |
| &nbsp;&nbsp; 63385<br><sup>1</sup> <br>| Impac CMB Trust 2004-9, Class 1A2, 4.726% (CME Term SOFR 1 Month +0.994%), 1/25/2035 | &nbsp;&nbsp; 62076 |
| &nbsp;&nbsp; 10456306<br><sup>1</sup> <br>| JP Morgan Mortgage Trust 2021-1, Class A11, 4.721% (30-DAY AVERAGE SOFR +0.650%), 6/25/2051 | &nbsp;&nbsp; 9874152 |
| &nbsp;&nbsp; 61517<br><sup>1</sup> <br>| Mellon Residential Funding Corp. 2001-TBC1, Class A1, 4.564% (CME Term SOFR 1 Month +0.814%), 11/15/2031 | &nbsp;&nbsp; 59256 |
| &nbsp;&nbsp; 349100 | Sequoia Mortgage Trust 2012-6, Class A2, 1.808%, 12/25/2042 | &nbsp;&nbsp; 305594 |
| &nbsp;&nbsp; 155950<br><sup>1</sup> <br>| Washington Mutual 2006-AR1, Class 2A1B, 5.099% (Fed Reserve 12Mo Cumulative Avg 1 Yr CMT +1.070%), 1/25/2046 | &nbsp;&nbsp; 146459 |
| &nbsp;&nbsp; 263725<br><sup>1</sup> <br>| Washington Mutual 2006-AR15, Class 1A, 4.869% (Fed Reserve 12Mo Cumulative Avg 1 Yr CMT +0.840%), 11/25/2046 | &nbsp;&nbsp; 244345 |
| &nbsp;&nbsp; 150001<br><sup>1</sup> <br>| Washington Mutual 2006-AR17, Class 1A, 3.878% (Fed Reserve 12Mo Cumulative Avg 1 Yr CMT +0.820%), 12/25/2046 | &nbsp;&nbsp; 127260 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27057674 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS <br>(IDENTIFIED COST $579,875,088)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 577538111 |
|  | COMMERCIAL MORTGAGE-BACKED SECURITIES—5.1% |  |
|  | **Commercial Mortgage—3.2%** |  |
| &nbsp;&nbsp; 17000000<br><sup>1</sup> <br>| BHMS Mortgage Trust 2025-ATLS, Class B, 6.300% (CME Term SOFR 1 Month +2.550%), 8/15/2042 | &nbsp;&nbsp; 17010722 |
| &nbsp;&nbsp; 8000000<br><sup>1</sup> <br>| Boca Commercial Mortgage Trust 2025-BOCA A, Class A, 5.450% (CME Term SOFR 1 Month +1.600%), 12/15/2042 | &nbsp;&nbsp; 8009991 |
| &nbsp;&nbsp; 4200000 | CHI Commercial Mortgage Trust 2025-SFT, Class B, 5.871%, 4/15/2042 | &nbsp;&nbsp; 4290450 |
| &nbsp;&nbsp; 1750000<br><sup>1</sup> <br>| Fontainebleau Miami Beach Trust 2024-FBLU, Class B, 5.600% (CME Term SOFR 1 Month +1.850%), 12/15/2039 | &nbsp;&nbsp; 1753815 |
| &nbsp;&nbsp; 4875000<br><sup>1</sup> <br>| Fontainebleau Miami Beach Trust 2024-FBLU, Class C, 5.900% (CME Term SOFR 1 Month +2.150%), 12/15/2039 | &nbsp;&nbsp; 4890181 |
| &nbsp;&nbsp; 7000000<br><sup>1</sup> <br>| JW Commercial Mortgage Trust 2 2024-BERY, Class A, 5.343% (CME Term SOFR 1 Month +1.593%), 11/15/2039 | &nbsp;&nbsp; 6999989 |
| &nbsp;&nbsp; 2000000<br><sup>1</sup> <br>| JW Commercial Mortgage Trust 2 2024-BERY, Class C, 5.992% (CME Term SOFR 1 Month +2.242%), 11/15/2039 | &nbsp;&nbsp; 2001247 |
| &nbsp;&nbsp; 22000000<br><sup>1</sup> <br>| JW Commercial Mortgage Trust 2 2024-MRCO, Class C, 6.140% (CME Term SOFR 1 Month +2.390%), 6/15/2039 | &nbsp;&nbsp; 22054786 |
| &nbsp;&nbsp; 23000000<br><sup>1</sup> <br>| ORL Trust 2024-GLKS, Class B, 5.642% (CME Term SOFR 1 Month +1.892%), 12/15/2039 | &nbsp;&nbsp; 23050094 |
| &nbsp;&nbsp; 2600000<br><sup>1</sup> <br>| TEXAS 2025-TWR, Class B, 5.342% (CME Term SOFR 1 Month +1.592%), 4/15/2042 | &nbsp;&nbsp; 2593505 |

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**11**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | COMMERCIAL MORTGAGE-BACKED SECURITIES—continued |  |
|  | **Commercial Mortgage—continued** |  |
| $1400000<br><sup>1</sup> <br>| TEXAS 2025-TWR, Class C, 5.892% (CME Term SOFR 1 Month +2.141%), 4/15/2042 | &nbsp;&nbsp; $1397379 |
| &nbsp;&nbsp; 9000000<br><sup>1</sup> <br>| TEXAS Commercial Mortgage Trust 2025-TWR, Class A, 5.043% (CME Term SOFR 1 Month +1.293%), 4/15/2042 | &nbsp;&nbsp; 8988755 |
| &nbsp;&nbsp; 11900000<br><sup>1</sup> <br>| Waikiki Beach Hotel Trust 2025-WBM, Class A, 5.492% (CME Term SOFR 1 Month +1.742%), 6/15/2042 | &nbsp;&nbsp; 11911148 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 114952062 |
| <sup>1</sup> <br>| **Federal Home Loan Mortgage Corporation—1.9%** |  |
| &nbsp;&nbsp; 5667985 | Federal Home Loan Mortgage Corp. REMIC, Series KF79, Class AL, 4.593% (30-DAY AVERAGE SOFR <br> +0.584%), 5/25/2030<br>| &nbsp;&nbsp; 5673929 |
| &nbsp;&nbsp; 327542 | Federal Home Loan Mortgage Corp. REMIC, Series KF87, Class AL, 4.473% (30-DAY AVERAGE SOFR <br> +0.464%), 8/25/2030<br>| &nbsp;&nbsp; 327006 |
| &nbsp;&nbsp; 8799740 | Federal Home Loan Mortgage Corp. REMIC, Series KF90, Class AL, 4.453% (30-DAY AVERAGE SOFR <br> +0.444%), 9/25/2030<br>| &nbsp;&nbsp; 8801057 |
| &nbsp;&nbsp; 1754931 | Federal Home Loan Mortgage Corp. REMIC, Series KF92, Class AL, 4.453% (30-DAY AVERAGE SOFR <br> +0.444%), 10/25/2030<br>| &nbsp;&nbsp; 1750742 |
| &nbsp;&nbsp; 4940514 | Federal Home Loan Mortgage Corp. REMIC, Series KF93, Class AL, 4.403% (30-DAY AVERAGE SOFR <br> +0.394%), 10/25/2027<br>| &nbsp;&nbsp; 4935496 |
| &nbsp;&nbsp; 10557389 | Federal Home Loan Mortgage Corp. REMIC, Series KF94, Class AL, 4.423% (30-DAY AVERAGE SOFR <br> +0.414%), 11/25/2030<br>| &nbsp;&nbsp; 10526509 |
| &nbsp;&nbsp; 12779715 | Federal Home Loan Mortgage Corp. REMIC, Series KF95, Class AL, 4.383% (30-DAY AVERAGE SOFR <br> +0.374%), 11/25/2030<br>| &nbsp;&nbsp; 12721665 |
| &nbsp;&nbsp; 6632071 | Federal Home Loan Mortgage Corp. REMIC, Series KF96, Class AL, 4.383% (30-DAY AVERAGE SOFR <br> +0.374%), 12/25/2030<br>| &nbsp;&nbsp; 6611125 |
| &nbsp;&nbsp; 18244071 | Federal Home Loan Mortgage Corp. REMIC, Series KF98, Class AL, 4.293% (30-DAY AVERAGE SOFR <br> +0.284%), 12/25/2030<br>| &nbsp;&nbsp; 18120750 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69468279 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES <br>(IDENTIFIED COST $184,278,327)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 184420341 |
|  | MORTGAGE-BACKED SECURITIES—2.3% |  |
|  | **Federal Home Loan Mortgage Corporation—1.8%** |  |
| &nbsp;&nbsp; 22188734<br><sup>1</sup> <br>| Federal Home Loan Mortgage Corp., Pool 2014-38, 5.500% (30-DAY AVERAGE SOFR +0.514%), 4/1/2054 | &nbsp;&nbsp; 22539884 |
| &nbsp;&nbsp; 24353679 | Federal Home Loan Mortgage Corp., Pool RQ0056, 5.500%, 10/1/2055 | &nbsp;&nbsp; 24701038 |
| &nbsp;&nbsp; 20283569 | Federal Home Loan Mortgage Corp., Pool SD8431, 5.500%, 5/1/2054 | &nbsp;&nbsp; 20591891 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67832813 |
|  | **Federal National Mortgage Association—0.5%** |  |
| &nbsp;&nbsp; 188954 | Federal National Mortgage Association, Pool 728568, 6.500%, 10/1/2033 | &nbsp;&nbsp; 199445 |
| &nbsp;&nbsp; 16734886 | Federal National Mortgage Association, Pool DB0774, 6.000%, 3/1/2054 | &nbsp;&nbsp; 17186452 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17385897 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL MORTGAGE-BACKED SECURITIES <br>(IDENTIFIED COST $84,247,598)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85218710 |
| <sup>1</sup> <br>| AGENCY RISK TRANSFER SECURITIES—0.7% |  |
| &nbsp;&nbsp; 12000000 | FNMA CAS 2023-R05, Series 2023-R05, Class 1M2, 6.974% (30-DAY AVERAGE SOFR +3.100%), 6/25/2043 | &nbsp;&nbsp; 12429979 |
| &nbsp;&nbsp; 11000000 | FNMA CAS 2023-R08, Series 2023-R08, Class 1M2, 6.374% (30-DAY AVERAGE SOFR +2.500%), 10/25/2043 | &nbsp;&nbsp; 11214779 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL AGENCY RISK TRANSFER SECURITIES <br>(IDENTIFIED COST $23,000,000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23644758 |
| <sup>1</sup> <br>| ADJUSTABLE RATE MORTGAGES—0.0% |  |
|  | **Federal National Mortgage Association—0.0%** |  |
| &nbsp;&nbsp; 150916 | FNMA ARM, 4.210%, 8/1/2033 | &nbsp;&nbsp; 147929 |
| &nbsp;&nbsp; 10049 | FNMA ARM, 4.616%, 4/1/2030 | &nbsp;&nbsp; 9945 |
| &nbsp;&nbsp; 149022 | FNMA ARM, 4.783%, 7/1/2034 | &nbsp;&nbsp; 146905 |
| &nbsp;&nbsp; 17740 | FNMA ARM, 5.477%, 5/1/2040 | &nbsp;&nbsp; 17728 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL ADJUSTABLE RATE MORTGAGES <br>(IDENTIFIED COST $332,047)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322507 |
|  | INVESTMENT COMPANIES—14.4% |  |
| &nbsp;&nbsp;&nbsp; 14365456 | Bank Loan Core Fund | &nbsp;&nbsp; 123111958 |
| &nbsp;&nbsp; 329070280 | Federated Hermes Government Obligations Fund, Premier Shares, 3.68%<sup>4</sup> <br>| &nbsp;&nbsp; 329070280 |

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**12**

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| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | INVESTMENT COMPANIES—continued |  |
| 8326852 | Project and Trade Finance Core Fund | &nbsp;&nbsp; $74275515 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENT COMPANIES <br>(IDENTIFIED COST $527,533,502)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 526457753 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENT IN SECURITIES—99.7% <br>(IDENTIFIED COST $3,628,589,884)<br>| &nbsp;&nbsp; 3637907845 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; OTHER ASSETS AND LIABILITIES - NET—0.3%<sup>5</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9798179 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NET ASSETS—100% | &nbsp;&nbsp; $3647706024 |

---

At December 31, 2025, the Fund had the following outstanding futures contracts:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Number of** <br>**Contracts**<br>| &nbsp;&nbsp; **Notional** <br>**Value**<br>| &nbsp;&nbsp;&nbsp; **Expiration** <br>**Date**<br>| &nbsp;&nbsp; **Value and** <br>**Unrealized** <br>**Appreciation**<br>|
| **Short Futures:** |  |  |  |  |
| United States Treasury Notes 5-Year Short Futures | &nbsp;&nbsp; 1110 | &nbsp;&nbsp;&nbsp; $121328204 | March 2026 | &nbsp;&nbsp;&nbsp; $387847 |

---

Net Unrealized Appreciation on Futures Contracts is included in "Other Assets and Liabilities—Net."

Transactions with affiliated investment companies, which are funds managed by the Adviser or an affiliate of the Adviser, during the period ended December 31, 2025, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliates** | **Value as of** <br>**9/30/2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**Depreciation**<br>| **Net** <br>**Realized** <br>**Gain/** <br>**(Loss)**<br>| **Value as of** <br>**12/31/2025**<br>| **Shares** <br>**Held as of** <br>**12/31/2025**<br>| **Dividend** <br>**Income**<br>|
| Bank Loan Core Fund | $104237572 | $18974508 | $— | $(100122) | $— | $123111958 | &nbsp;&nbsp; 14365456 | $5628565 |
| Federated Hermes Government Obligations <br> Fund, Premier Shares\*<br>| $237676716 | $423950408 | $(332556844) | $— | $— | $329070280 | 329070280 | $2221568 |
| Project and Trade Finance Core Fund | $63049019 | $11380061 | $— | $(153565) | $— | $74275515 | &nbsp;&nbsp;&nbsp; 8326852 | $2663015 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL OF AFFILIATED TRANSACTIONS | $404963307 | $454304977 | $(332556844) | $(253687) | $— | $526457753 | 351762588 | $10513148 |

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

\* *All or a portion of the balance/activity for the fund relates to cash collateral received on securities lending transactions.*

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

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| | |
|:---|:---|
| 1 | *Floating/adjustable note with current rate and current maturity or next reset date shown. Adjustable rate mortgage security coupons are based on the weighted* <br> *average note rates of the underlying mortgages less the guarantee and servicing fees. These securities do not indicate an index and spread in their description* <br> *above.*<br>|
| 2 | *Market quotations and price evaluations are not available. Fair value determined using significant unobservable inputs in accordance with procedures established* <br> *by and under the general supervision of the Fund's Adviser acting through its Valuation Committee.*<br>|
| 3 | *All or a portion of these securities are temporarily on loan to unaffiliated broker/dealers. As of December 31, 2025, securities subject to this type of arrangement* <br> *and related collateral were as follows:*<br>|

---

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

---

| | |
|:---|:---|
| **Fair Value of** <br>**Securities Loaned**<br>| **Collateral** <br>**Received**<br>|
| $2262365 | &nbsp;&nbsp; $2313575 |

---

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

4 *7-day net yield.* <br> 5 *Assets, other than investments in securities, less liabilities*

Note: The categories of investments are shown as a percentage of net assets at December 31, 2025.

**Investment Valuation** 

In calculating its net asset value (NAV), the Fund generally values investments as follows:

■ Fixed-income securities are fair valued using price evaluations provided by a pricing service approved by Federated Investment Management Company (the "Adviser").

■ Shares of other mutual funds or non-exchange-traded investment companies are valued based upon their reported NAVs, or NAV per share practical expedient, as applicable.

■ Derivative contracts listed on exchanges are valued at their reported settlement or closing price, except that options are valued at the mean of closing bid and ask quotations.

■ Over-the-counter (OTC) derivative contracts are fair valued using price evaluations provided by a pricing service approved by the Adviser.

■ For securities that are fair valued in accordance with procedures established by and under the general supervision of the Adviser, certain factors may be considered, such as: the last traded or purchase price of the security, information obtained by contacting the

**13**

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issuer or dealers, analysis of the issuer's financial statements or other available documents, fundamental analytical data, the nature and duration of restrictions on disposition, the movement of the market in which the security is normally traded, public trading in similar securities or derivative contracts of the issuer or comparable issuers, movement of a relevant index, or other factors including but not limited to industry changes and relevant government actions.

If any price, quotation, price evaluation or other pricing source is not readily available when the NAV is calculated, if the Fund cannot obtain price evaluations from a pricing service or from more than one dealer for an investment within a reasonable period of time as set forth in the Adviser's valuation policies and procedures for the Fund, or if information furnished by a pricing service, in the opinion of the Adviser's Valuation Committee ("Valuation Committee"), is deemed not representative of the fair value of such security, the Fund uses the fair value of the investment determined in accordance with the procedures described below. There can be no assurance that the Fund could obtain the fair value assigned to an investment if it sold the investment at approximately the time at which the Fund determines its NAV per share, and the actual value obtained could be materially different.

**Fair Valuation and Significant Events Procedures** 

Pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended, the Fund's Board of Directors (the "Directors") has designated the Adviser as the Fund's valuation designee to perform any fair value determinations for securities and other assets held by the Fund. The Adviser is subject to the Directors' oversight and certain reporting and other requirements intended to provide the Directors the information needed to oversee the Adviser's fair value determinations.

The Adviser, acting through its Valuation Committee, is responsible for determining the fair value of investments for which market quotations are not readily available. The Valuation Committee is comprised of officers of the Adviser and certain of the Adviser's affiliated companies and determines fair value and oversees the calculation of the NAV. The Valuation Committee is also authorized to use pricing services to provide fair value evaluations of the current value of certain investments for purposes of calculating the NAV. The Valuation Committee employs various methods for reviewing third-party pricing-service evaluations including periodic reviews of third-party pricing services' policies, procedures and valuation methods (including key inputs, methods, models and assumptions), transactional back-testing, comparisons of evaluations of different pricing services, and review of price challenges by the Adviser based on recent market activity. In the event that market quotations and price evaluations are not available for an investment, the Valuation Committee determines the fair value of the investment in accordance with procedures adopted by the Adviser. The Directors periodically review the fair valuations made by the Valuation Committee. The Directors have also approved the Adviser's fair valuation and significant events procedures as part of the Fund's compliance program and will review any changes made to the procedures.

Factors considered by pricing services in evaluating an investment include the yields or prices of investments of comparable quality, coupon, maturity, call rights and other potential prepayments, terms and type, reported transactions, indications as to values from dealers and general market conditions. Some pricing services provide a single price evaluation reflecting the bid-side of the market for an investment (a "bid" evaluation). Other pricing services offer both bid evaluations and price evaluations indicative of a price between the prices bid and ask for the investment (a "mid" evaluation). The Fund normally uses bid evaluations for any U.S. Treasury and Agency securities, mortgage-backed securities and municipal securities. The Fund normally uses mid evaluations for any other types of fixed-income securities and any OTC derivative contracts. In the event that market quotations and price evaluations are not available for an investment, the fair value of the investment is determined in accordance with procedures adopted by the Adviser.

The Adviser has also adopted procedures requiring an investment to be priced at its fair value whenever the Valuation Committee determines that a significant event affecting the value of the investment has occurred between the time as of which the price of the investment would otherwise be determined and the time as of which the NAV is computed. An event is considered significant if there is both an affirmative expectation that the investment's value will change in response to the event and a reasonable basis for quantifying the resulting change in value. Examples of significant events that may occur after the close of the principal market on which a security is traded, or after the time of a price evaluation provided by a pricing service or a dealer, include:

■ With respect to securities traded principally in foreign markets, significant trends in U.S. equity markets or in the trading of foreign securities index futures contracts;

■ Political or other developments affecting the economy or markets in which an issuer conducts its operations or its securities are traded;

■ Announcements concerning matters such as acquisitions, recapitalizations, litigation developments, or a natural disaster affecting the issuer's operations or regulatory changes or market developments affecting the issuer's industry.

The Adviser has adopted procedures whereby the Valuation Committee uses a pricing service to provide factors to update the fair value of equity securities traded principally in foreign markets from the time of the close of their respective foreign stock exchanges to the pricing time of the Fund. For other significant events, the Fund may seek to obtain more current quotations or price evaluations from alternative pricing sources. If a reliable alternative pricing source is not available, the Valuation Committee will determine the fair value of the investment in accordance with the fair valuation procedures approved by the Adviser. The Directors periodically review fair valuations made in response to significant events.

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below:

Level 1—quoted prices in active markets for identical securities.

Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Also includes securities valued at amortized cost.

Level 3—significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

**14**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>The following is a summary of the inputs used, as of December 31, 2025, in valuing the Fund's assets carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** |
|  | **Level 1—** <br>**Quoted** <br>**Prices**<br>| **Level 2—** <br>**Other** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3—** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>| **Total** |
| **Debt Securities:** |  |  |  |  |
| Asset-Backed Securities | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1347701981 | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $1347701981 |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 892603684 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 892603684 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 577538111 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 577538111 |
| Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 184420341 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 184420341 |
| Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85218710 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85218710 |
| Agency Risk Transfer Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23644758 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23644758 |
| Adjustable Rate Mortgages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322507 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322507 |
| **Investment Companies** | &nbsp;&nbsp; 452182238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 452182238 |
| Other Investments<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74275515 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL SECURITIES | &nbsp;&nbsp; $452182238 | &nbsp;&nbsp; $3111450092 | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $3637907845 |
| **Other Financial Instruments:**<sup>2</sup> <br>|  |  |  |  |
| Assets | &nbsp;&nbsp; $387847 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $387847 |

---

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

---

| | |
|:---|:---|
| 1 | *As permitted by U.S. generally accepted accounting principles (GAAP), an Investment Company valued at $74,275,515 is measured at fair value using the net* <br> *asset value (NAV) per share practical expedient and has not been categorized in the fair value hierarchy chart above but is included in the Total column. The price* <br> *of shares redeemed of Project and Trade Finance Core Fund (PTCORE), a portfolio of Federated Hermes Core Trust III, may be determined as of the closing NAV* <br> *of the fund up to twenty-four days after receipt of a shareholder redemption request. The investment objective of PTCORE is to provide total return. Copies of* <br> *the PTCORE financial statements are available on the EDGAR database on the SEC's website or upon request from the Fund.*<br>|
| 2 | *Other financial instruments are futures contracts.* |

---

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

---

| | |
|:---|:---|
| The following acronym(s) are used throughout this portfolio: | The following acronym(s) are used throughout this portfolio: |
| ARM | —Adjustable Rate Mortgage |
| BKNT | —Bank Notes |
| CAS | —Connecticut Avenue Securities |
| CMT | —Constant Maturity Treasury |
| FNMA | —Federal National Mortgage Association |
| GMTN | —Global Medium Term Note |
| MTN | —Medium Term Note |
| REIT | —Real Estate Investment Trust |
| REMIC | —Real Estate Mortgage Investment Conduit |
| SOFR | —Secured Overnight Financing Rate |

---

**15**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Federated Hermes Total Return Series, Inc.

- **b. Investment Company Act file number:** 811-07115

- **c. CIK number of Registrant:** 0000912763

- **d. LEI of Registrant:** 254900I1JON2W1ZB0K47

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

  - **Street Address 1:** Federated Hermes Funds

  - **City:** Warrendale

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 15086-7561

  - **Telephone number:** 8003417400

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

- **a. Name of Series:** Federated Hermes Ultrashort Bond Fund

- **b. EDGAR series identifier (if any):** S000010898

- **c. LEI of Series:** 4SLJRM7FK1CXGQHDBA02

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $3651774500.87

**Total Liabilities:** $15237387.03

**Net Assets:** $3636537113.84

**Cash Not Reported:** $1144647.17

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -14928.204599000000 | **1-Year:** -160217.380718000000 | **5-Year:** -161851.317101000000 | **10-Year:** -7709.832039000000 | **30-Year:** -925.834778000000

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

- **3-Month:** -321.674221000000 | **1-Year:** -7404.086581000000 | **5-Year:** -25993.806850000000 | **10-Year:** -183.761826000000 | **30-Year:** -27.718236000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000030205 | 0.40%                | 0.38%                | 0.49%                |
| Class ID C000030206 | 0.41%                | 0.39%                | 0.50%                |
| Class ID C000030207 | 0.40%                | 0.39%                | 0.38%                |
| Class ID C000212356 | 0.41%                | 0.40%                | 0.50%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $215.26                  | $-125392.46                                |
| Month 2  | $1430.82                 | $1859916.95                                |
| Month 3  | $-338.37                 | $1049409.94                                |

**Designated Index Information**

- **Index Name:** Bloomberg Barclays US Government/Credit Bond Index

- **Index Identifier:** LUGCTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ALPHABET INC                                                             | Alphabet Inc                                                                  | CUSIP: 02079KAU1<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7073538.99   | 0.19%             | 2028-11-15      | Floating      | 4.34%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                                      | Bank of Nova Scotia/The                                                       | CUSIP: 0641598M1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  20000000 | PA      | $20062764.20  | 0.55%             | 2026-09-15      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                              | BNP Paribas SA                                                                | CUSIP: 09659W3B8<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  10000000 | PA      | $10117019.00  | 0.28%             | 2029-05-09      | Floating      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| CARDS II Trust                                                           | CARDS II Trust                                                                | CUSIP: 14161GCL2<br>LEI: 549300GWPYLNK6X47W76 | Long             | ABS-O            | CORP              | CA        |   5000000 | PA      | $5062966.75   | 0.14%             |  |  |  | Yes           |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                                  | Carmax Auto Owner Trust 2025-3                                                | CUSIP: 14290FAH9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3150000 | PA      | $3188820.13   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                                  | CarMax Auto Owner Trust 2024-1                                                | CUSIP: 14318WAH0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3588138.05   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Chase Auto Owner Trust                                                   | Chase Auto Owner Trust 2025-2                                                 | CUSIP: 16144MAH7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6750000 | PA      | $6758673.75   | 0.19%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                                                | Chesapeake Funding II LLC                                                     | CUSIP: 165183CX0<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $751887.19    | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                                                | Chesapeake Funding II LLC                                                     | CUSIP: 165183CY8<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |   1750000 | PA      | $1753177.04   | 0.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| COMERICA INC                                                             | Comerica Inc                                                                  | CUSIP: 200340AW7<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | DBT              | CORP              | US        |   3675000 | PA      | $3834474.60   | 0.11%             | 2030-01-30      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                                         | Deutsche Bank AG/New York NY                                                  | CUSIP: 251526DC0<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |  10000000 | PA      | $9985421.40   | 0.27%             | 2031-08-04      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                                             | Enbridge Inc                                                                  | CUSIP: 29250NCM5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  10000000 | PA      | $10019632.20  | 0.28%             | 2028-11-20      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                                           | Enterprise Fleet Financing 2023-3 LLC                                         | CUSIP: 29374LAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5304470 | PA      | $5371461.00   | 0.15%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac Pool                                                              | CUSIP: 3132DWK93<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  22188734 | PA      | $22539883.62  | 0.62%             | 2054-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                       | Alternative Loan Trust 2005-51                                                | CUSIP: 12668ARF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     69384 | PA      | $53030.24     | 0.00%             | 2035-11-20      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137A9HR0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    784125 | PA      | $782870.79    | 0.02%             | 2041-04-15      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                         | Freddie Mac Multifamily Structured Pass Through Certificates                  | CUSIP: 3137FTZZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5667985 | PA      | $5673929.32   | 0.16%             | 2030-05-25      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| Mellon Residential Funding Corporation                                   | Mellon Residential Funding Corp Mor Pas Thr Cer Ser 01 Tbc1                   | CUSIP: 585525FC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     61517 | PA      | $59256.08     | 0.00%             | 2031-11-15      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                               | Navient Private Education Refi Loan Trust 2020-G                              | CUSIP: 63941UAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4663202 | PA      | $4382526.55   | 0.12%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 31396KYA4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    106720 | PA      | $105928.61    | 0.00%             | 2036-08-25      | Floating      | 4.34%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 31396PV99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1819318 | PA      | $1794768.37   | 0.05%             | 2037-03-25      | Floating      | 4.22%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                               | Navient Private Education Refi Loan Trust 2021-F                              | CUSIP: 63942GAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  25507155 | PA      | $22810453.08  | 0.63%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 31396XVJ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    206284 | PA      | $204482.55    | 0.01%             | 2037-09-25      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                                 | Ford Motor Credit Co LLC                                                      | CUSIP: 345397D26<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |  18605000 | PA      | $18770323.84  | 0.52%             | 2026-06-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| GM Financial Securitized Term Auto Receivables Tr                        | GM Financial Consumer Automobile Receivables Trust 2023-3                     | CUSIP: 36267KAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3250000 | PA      | $3301213.34   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                                                    | HPEFS Equipment Trust 2024-2                                                  | CUSIP: 40444MAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10500000 | PA      | $10732568.18  | 0.30%             |  |  |  | Yes           |                  2 | On Loan: No      |
| The Huntington National Bank                                             | Huntington Bank Auto Credit-Linked Notes Series 2025-1                        | CUSIP: 446438SX2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5812450 | PA      | $5845405.13   | 0.16%             |  |  |  | Yes           |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                                  | Hyundai Capital America                                                       | CUSIP: 44891ACT2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8094012.40   | 0.22%             | 2027-01-08      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                                     | Keurig Dr Pepper Inc                                                          | CUSIP: 49271VAS9<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   1272000 | PA      | $1274195.28   | 0.04%             | 2027-03-15      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| Master Credit Card Trust                                                 | Master Credit Card Trust II                                                   | CUSIP: 576339EB7<br>LEI: 549300G7G68IV2D8IM76 | Long             | ABS-O            | CORP              | CA        |   3500000 | PA      | $3483712.40   | 0.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| MET TOWER GLOBAL FUNDING                                                 | Met Tower Global Funding                                                      | CUSIP: 58989V2G8<br>LEI: 635400OFJCY9IOGBGY57 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6055282.32   | 0.17%             | 2027-01-16      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY BANK NA                                                   | Morgan Stanley Bank NA                                                        | CUSIP: 61690U7Z7<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6041997.48   | 0.17%             | 2028-01-14      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                               | Navient Private Education Refi Loan Trust 2021-c                              | CUSIP: 63942JAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  20785815 | PA      | $19148824.31  | 0.53%             |  |  |  | Yes           |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                                                  | Nissan Motor Acceptance Co LLC                                                | CUSIP: 65480CAJ4<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9941224.30   | 0.27%             | 2027-09-13      | Floating      | 5.77%                 | Yes           |                  2 | On Loan: No      |
| PFS Financing Corp.                                                      | PFS Financing Corp                                                            | CUSIP: 69335PFG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  21783000 | PA      | $21865017.35  | 0.60%             |  |  |  | Yes           |                  2 | On Loan: No      |
| SFS Auto Receivables Securitization Trust                                | SFS Auto Receivables Securitization Trust 2023-1                              | CUSIP: 78398AAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6950000 | PA      | $7127684.05   | 0.20%             |  |  |  | Yes           |                  2 | On Loan: No      |
| SBNA Auto Receivables Trust                                              | SBNA Auto Receivables Trust 2024-A                                            | CUSIP: 78437PAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6142764.30   | 0.17%             |  |  |  | Yes           |                  2 | On Loan: No      |
| SBNA Auto Receivables Trust                                              | SBNA Auto Receivables Trust 2025-SF1                                          | CUSIP: 78437XAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4525000 | PA      | $4553972.90   | 0.13%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes                                  | Santander Bank Auto Credit-Linked Notes Series 2024-B                         | CUSIP: 80280BAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4886926 | PA      | $4928365.00   | 0.14%             |  |  |  | Yes           |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                                 | Toyota Motor Credit Corp                                                      | CUSIP: 89236TNR2<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   8090000 | PA      | $8132365.71   | 0.22%             | 2028-09-05      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                                  | WaMu Mortgage Pass-Through Certificates Series 2006-AR1 Trust                 | CUSIP: 92925CCF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    155950 | PA      | $146458.59    | 0.00%             | 2046-01-25      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding LLC                                           | Wheels Fleet Lease Funding 1 LLC                                              | CUSIP: 96328GCN5<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |   7500000 | PA      | $7559924.63   | 0.21%             |  |  |  | Yes           |                  2 | On Loan: No      |
| BOF URSA FUNDING                                                         | BOF URSA FUNDING                                                              | CUSIP: 072926AF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4650000 | PA      | $4756573.82   | 0.13%             |  |  |  | Yes           |                  2 | On Loan: No      |
| BHMS Mortgage Trust                                                      | BHMS Commercial Mortgage Trust 2025-ATLS                                      | CUSIP: 088928AC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  17000000 | PA      | $17010721.90  | 0.47%             | 2042-08-15      | Floating      | 6.30%                 | Yes           |                  2 | On Loan: No      |
| Indymac Manufactured Housing Contract                                    | Indymac Manufactured Housing Contract Pass-Through Certificates Series 1997-1 | CUSIP: 22540ABC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1615 | PA      | $1620.60      | 0.00%             | 2028-02-25      | Fixed         | 6.61%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                                                     | Enel Finance International NV                                                 | CUSIP: 29278GBF4<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   7140000 | PA      | $7129400.67   | 0.20%             | 2028-09-30      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                         | Freddie Mac Multifamily Structured Pass Through Certificates                  | CUSIP: 3137F9CM1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  18244070 | PA      | $18120749.61  | 0.50%             | 2030-12-25      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                 | Government National Mortgage Association                                      | CUSIP: 38375B3Y6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    173463 | PA      | $173648.89    | 0.00%             | 2063-07-20      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                               | Navient Private Education Refi Loan Trust 2021-B                              | CUSIP: 63942LAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  26632570 | PA      | $24314718.63  | 0.67%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Verizon Master Trust                                                     | Verizon Master Trust                                                          | CUSIP: 92348KEJ8<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |   5065000 | PA      | $5122695.42   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                                       | Ally Bank Auto Credit-Linked Notes Series 2024-A                              | CUSIP: 02007GZ55<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    948760 | PA      | $964906.57    | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| AUST & NZ BANKING GROUP                                                  | Australia & New Zealand Banking Group Ltd                                     | CUSIP: 05252ADN8<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |  10000000 | PA      | $10125123.70  | 0.28%             | 2029-12-16      | Floating      | 4.62%                 | Yes           |                  2 | On Loan: No      |
| BMW Vehicle Lease Trust                                                  | BMW Vehicle Lease Trust                                                       | CUSIP: 05613MAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2972495 | PA      | $2973645.90   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                                       | Bank of America NA                                                            | CUSIP: 06428CAB0<br>LEI: B4TYDEB6GKMZO031MB27 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5022020.30   | 0.14%             | 2026-08-18      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| CARDS II Trust                                                           | CARDS II Trust                                                                | CUSIP: 14161GCN8<br>LEI: 549300GWPYLNK6X47W76 | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5077790.00   | 0.14%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                                                | Chesapeake Funding II LLC                                                     | CUSIP: 165183DC5<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4575670.88   | 0.13%             |  |  |  | Yes           |                  2 | On Loan: No      |
| COMMONWEALTH BANK AUST                                                   | Commonwealth Bank of Australia                                                | CUSIP: 2027A0KZ1<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |   5000000 | PA      | $5038054.95   | 0.14%             | 2030-10-01      | Floating      | 4.57%                 | Yes           |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                                           | Enterprise Fleet Financing 2024-2 LLC                                         | CUSIP: 29375RAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1650769 | PA      | $1656982.76   | 0.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Evergreen Credit Card Trust                                              | Evergreen Credit Card Trust                                                   | CUSIP: 30023JDB1<br>LEI: 5493002G9KVV6J3CNU15 | Long             | ABS-O            | CORP              | CA        |   6554000 | PA      | $6575838.26   | 0.18%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 3136BXKN3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  29116137 | PA      | $28720101.89  | 0.79%             | 2050-01-25      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| FannieMae Whole Loan                                                     | Fannie Mae Trust 2006-W1                                                      | CUSIP: 31395B5N9<br>LEI: 5493001NEANKKEPIN618 | Long             | ABS-MBS          | USGSE             | US        |    237063 | PA      | $234982.20    | 0.01%             | 2046-02-25      | Floating      | 4.21%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 31397JYE8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     27873 | PA      | $27642.81     | 0.00%             | 2037-07-15      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANK INC                                                     | Fifth Third Bank NA                                                           | CUSIP: 31677QBV0<br>LEI: QFROUN1UWUYU0DVIWD51 | Long             | DBT              | CORP              | US        |   8825000 | PA      | $8844569.00   | 0.24%             | 2028-01-28      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master Owner Trust                                 | Ford Credit Floorplan Master Owner Trust A                                    | CUSIP: 34528QHZ0<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |  13000000 | PA      | $13094308.50  | 0.36%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/Ford Credit                                 | Ford Credit Auto Owner Trust 2023-REV2                                        | CUSIP: 34535CAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4177959.00   | 0.11%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GM Financial Securitized Term Auto Receivables Tr                        | GM Financial Consumer Automobile Receivables Trust 2023-3                     | CUSIP: 36267KAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6100654.50   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                   | General Motors Financial Co Inc                                               | CUSIP: 37045XDQ6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10017494.20  | 0.28%             | 2027-02-26      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                                                      | Global Payments Inc                                                           | CUSIP: 37940XAV4<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   9860000 | PA      | $9880212.11   | 0.27%             | 2028-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GM Financial Securitized Term Auto Receivables Tr                        | Gm Financial Consumer Automobile Receivables Trust 2025-3                     | CUSIP: 379957AF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1850000 | PA      | $1876678.39   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                  | Goldman Sachs Group Inc/The                                                   | CUSIP: 38141GZL1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   9375000 | PA      | $9435752.06   | 0.26%             | 2028-02-24      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                 | Government National Mortgage Association                                      | CUSIP: 38384BQM6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  22340480 | PA      | $22394325.25  | 0.62%             | 2053-06-20      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                                 | JP Morgan Mortgage Trust 2021-1                                               | CUSIP: 46592EBC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10456306 | PA      | $9874152.35   | 0.27%             | 2051-06-25      | Floating      | 4.72%                 | Yes           |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                      | JPMorgan Chase & Co                                                           | CUSIP: 46647PET9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  19950000 | PA      | $19998338.85  | 0.55%             | 2029-01-24      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| MET LIFE GLOB FUNDING I                                                  | Metropolitan Life Global Funding I                                            | CUSIP: 592179KM6<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |   7690000 | PA      | $7723159.97   | 0.21%             | 2027-06-11      | Floating      | 4.43%                 | Yes           |                  2 | On Loan: No      |
| Navistar Financial Dealer Note Master Trust                              | Navistar Financial Dealer Note Master Owner Trust II 2025-1                   | CUSIP: 63938PCA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2250000 | PA      | $2241565.09   | 0.06%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PFS Financing Corp.                                                      | PFS Financing Corp                                                            | CUSIP: 69335PFD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7600000 | PA      | $7609977.28   | 0.21%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PenFed Auto Receivables Owner Trust                                      | PenFed Auto Receivables Owner Trust 2025-A                                    | CUSIP: 706916AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1230000 | PA      | $1235350.87   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                                     | Royal Bank of Canada                                                          | CUSIP: 78016HZU7<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   4500000 | PA      | $4530144.20   | 0.12%             | 2027-01-19      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| SFS Auto Receivables Securitization Trust                                | SFS Auto Receivables Securitization Trust 2023-1                              | CUSIP: 78398AAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5500000 | PA      | $5620002.03   | 0.15%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Securitized Term Auto Receivables Trust                                  | Securitized Term Auto Receivables Trust 2025-B                                | CUSIP: 81378WAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |   3623233 | PA      | $3649234.66   | 0.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                                    | Toronto-Dominion Bank/The                                                     | CUSIP: 89115A3D2<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  10000000 | PA      | $10085897.20  | 0.28%             | 2029-12-17      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                                                     | Verizon Master Trust                                                          | CUSIP: 92348KER0<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |   8000000 | PA      | $8054520.80   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Verizon Master Trust                                                     | Verizon Master Trust                                                          | CUSIP: 92348VAC3<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |   9000000 | PA      | $9110972.70   | 0.25%             |  |  |  | Yes           |                  2 | On Loan: No      |
| AIR LEASE CORP                                                           | Air Lease Corp                                                                | CUSIP: 00914AAV4<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7116192.86   | 0.20%             | 2029-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Ally Auto Receivables Trust                                              | Ally Auto Receivables Trust 2023-1                                            | CUSIP: 02007WAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2551110.38   | 0.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                                   | American Honda Finance Corp                                                   | CUSIP: 02665WGK1<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   9985000 | PA      | $10048255.07  | 0.28%             | 2028-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AmeriCredit Automobile Receivables Trust                                 | AmeriCredit Automobile Receivables Trust 2023-2                               | CUSIP: 03065UAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  18800000 | PA      | $19264514.16  | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| AmeriCredit Automobile Receivables Trust                                 | AmeriCredit Automobile Receivables Trust 2025-1                               | CUSIP: 03067FAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12000000 | PA      | $12066843.00  | 0.33%             |  |  |  | Yes           |                  2 | On Loan: No      |
| CARDS II Trust                                                           | CARDS II Trust                                                                | CUSIP: 14161GCP3<br>LEI: 549300GWPYLNK6X47W76 | Long             | ABS-O            | CORP              | US        |   7392000 | PA      | $7478855.63   | 0.21%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Chase Auto Owner Trust                                                   | Chase Auto Owner Trust 2025-2                                                 | CUSIP: 16144MAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2330000 | PA      | $2332336.29   | 0.06%             |  |  |  | Yes           |                  2 | On Loan: No      |
| CONSTELLATION BRANDS INC                                                 | Constellation Brands Inc                                                      | CUSIP: 21036PBS6<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |   1820000 | PA      | $1851019.10   | 0.05%             | 2030-05-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: —       |
| DELL INT LLC / EMC CORP                                                  | Dell International LLC / EMC Corp                                             | CUSIP: 24703DBR1<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |   6350000 | PA      | $6344982.23   | 0.17%             | 2029-02-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 3136BVLD8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  16231276 | PA      | $16307134.77  | 0.45%             | 2055-04-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                         | Freddie Mac Multifamily Structured Pass Through Certificates                  | CUSIP: 3137F72K0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1754931 | PA      | $1750741.47   | 0.05%             | 2030-10-25      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137FPAS4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  14514098 | PA      | $14318485.62  | 0.39%             | 2049-10-25      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137HC4T6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  28414971 | PA      | $28398720.28  | 0.78%             | 2054-04-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 31395N3L9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    537203 | PA      | $533851.23    | 0.01%             | 2036-07-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 31397PHA1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    579870 | PA      | $577675.45    | 0.02%             | 2037-11-15      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| Fontainebleau Miami Beach Trust                                          | Fontainebleau Miami Beach Mortgage Trust 2024-FBLU                            | CUSIP: 34461WAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4875000 | PA      | $4890180.75   | 0.13%             | 2039-12-15      | Floating      | 5.90%                 | Yes           |                  2 | On Loan: No      |
| GM Financial Automobile Leasing Trust                                    | Gm Financial Automobile Leasing Trust 2025-2                                  | CUSIP: 362962AG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11000000 | PA      | $11152609.60  | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                 | Government National Mortgage Association                                      | CUSIP: 38385HKJ5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  33837375 | PA      | $33980763.82  | 0.93%             | 2055-10-20      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| GreenState Auto Receivables Trust                                        | GreenState Auto Receivables Trust 2024-1                                      | CUSIP: 39573AAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1800000 | PA      | $1828833.93   | 0.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust 2024-MRCO                                   | JW Trust 2024-BERY                                                            | CUSIP: 46676AAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $2001247.60   | 0.06%             | 2039-11-15      | Floating      | 5.99%                 | Yes           |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                                               | LAD Auto Receivables Trust 2024-2                                             | CUSIP: 505920AF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2300000 | PA      | $2361598.72   | 0.06%             |  |  |  | Yes           |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                                               | MMAF Equipment Finance LLC 2023-A                                             | CUSIP: 55317WAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     65015 | PA      | $65054.98     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| MPLX LP                                                                  | MPLX LP                                                                       | CUSIP: 55336VCA6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   5970000 | PA      | $6041447.11   | 0.17%             | 2031-02-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Master Credit Card Trust                                                 | Master Credit Card Trust II                                                   | CUSIP: 576339DR3<br>LEI: 549300G7G68IV2D8IM76 | Long             | ABS-O            | CORP              | CA        |   1650000 | PA      | $1735215.32   | 0.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Mississippi Higher Education Assistance Corp.                            | Mississippi Higher Education Assistance Corp                                  | CUSIP: 60535YAA1<br>LEI: 549300HWPV47979HMV21 | Long             | ABS-O            | CORP              | US        |   1115225 | PA      | $1111710.23   | 0.03%             | 2035-10-25      | Floating      | 3.16%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                               | Navient Private Education Refi Loan Trust 2020-H                              | CUSIP: 63935BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3218916 | PA      | $3054335.25   | 0.08%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Navient Student Loan Trust                                               | Navient Private Education Refi Loan Trust 2021-A                              | CUSIP: 63942BAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8748846 | PA      | $8076303.17   | 0.22%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PFS Financing Corp.                                                      | PFS Financing Corp                                                            | CUSIP: 69335PFQ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5028366.00   | 0.14%             |  |  |  | Yes           |                  2 | On Loan: No      |
| NEW CENTURY                                                              | NEW CENTURY CLASS D 1999 1                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    109416 | PA      | $0.00         | 0.00%             | 2029-01-25      | Variable      | 8.75%                 | No            |                  3 | On Loan: No      |
| Santander Drive Auto Receivables Trust                                   | Santander Drive Auto Receivables Trust 2024-2                                 | CUSIP: 80286YAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  20000000 | PA      | $20736421.00  | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                                   | Santander Drive Auto Receivables Trust 2024-1                                 | CUSIP: 80288AAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3600000 | PA      | $3644176.86   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                                   | Santander Drive Auto Receivables Trust 2025-1                                 | CUSIP: 80288DAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  20500000 | PA      | $20849424.55  | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| TEXAS Commercial Mortgage Trust                                          | TEXAS Commercial Mortgage Trust 2025-TWR                                      | CUSIP: 88231WAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2600000 | PA      | $2593504.68   | 0.07%             | 2042-04-15      | Floating      | 5.34%                 | Yes           |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                                 | Toyota Motor Credit Corp                                                      | CUSIP: 89236TML6<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7023582.86   | 0.19%             | 2026-08-07      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding LLC                                           | Wheels Fleet Lease Funding 1 LLC                                              | CUSIP: 96328GCR6<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |   2575000 | PA      | $2582087.43   | 0.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                                           | Enterprise Fleet Financing 2024-4 LLC                                         | CUSIP: 29374MAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4386001 | PA      | $4402511.17   | 0.12%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 31396TZ89<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     30585 | PA      | $30311.35     | 0.00%             | 2036-07-15      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| General Motors                                                           | GMF Floorplan Owner Revolving Trust                                           | CUSIP: 361886DB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6750000 | PA      | $6773339.81   | 0.19%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GM Financial Securitized Term Auto Receivables Tr                        | GM Financial Consumer Automobile Receivables Trust 2024-1                     | CUSIP: 36268GAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2250000 | PA      | $2294197.65   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                 | Government National Mortgage Association                                      | CUSIP: 38384NPP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  16008704 | PA      | $16030144.28  | 0.44%             | 2054-05-20      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                                   | PNC Financial Services Group Inc/The                                          | CUSIP: 693475BT1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   3865000 | PA      | $3943125.80   | 0.11%             | 2027-10-20      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SFS Auto Receivables Securitization Trust                                | SFS Auto Receivables Securitization Trust 2024-1                              | CUSIP: 78435VAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4102047.80   | 0.11%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                                                   | Tesla Auto Lease Trust 2024-B                                                 | CUSIP: 881934AG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12400000 | PA      | $12525193.50  | 0.34%             |  |  |  | Yes           |                  2 | On Loan: No      |
| AMAZON.COM INC                                                           | Amazon.com Inc                                                                | CUSIP: 023135CS3<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10033292.00  | 0.28%             | 2028-11-20      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                                         | Bank of Montreal                                                              | CUSIP: 06368FAD1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |  10000000 | PA      | $10024248.00  | 0.28%             | 2026-09-15      | Floating      | 4.34%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                                  | CarMax Auto Owner Trust 2024-4                                                | CUSIP: 14290DAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1750000 | PA      | $1790247.90   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                             | Dell Equipment Finance Trust 2025-1                                           | CUSIP: 24703UAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1030000 | PA      | $1043298.59   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                         | Freddie Mac Multifamily Structured Pass Through Certificates                  | CUSIP: 3137F6JG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   8799740 | PA      | $8801057.60   | 0.24%             | 2030-09-25      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| Master Credit Card Trust                                                 | Master Credit Card Trust                                                      | CUSIP: 576339CR4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |   4000000 | PA      | $3897309.80   | 0.11%             |  |  |  | Yes           |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                                        | NatWest Group PLC                                                             | CUSIP: 639057AU2<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   5000000 | PA      | $5024279.55   | 0.14%             | 2029-05-23      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| NextGear Floorplan Master Owner Trust                                    | NextGear Floorplan Master Owner Trust                                         | CUSIP: 65341KBY1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12000000 | PA      | $12063792.00  | 0.33%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Verizon Master Trust                                                     | Verizon Master Trust                                                          | CUSIP: 92348KEB5<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |   8400000 | PA      | $8465959.32   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                                  | Carmax Auto Owner Trust 2025-3                                                | CUSIP: 14290FAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2630000 | PA      | $2655892.09   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                                                | Chesapeake Funding II LLC                                                     | CUSIP: 165183CW2<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1005912.75   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                             | Dell Equipment Finance Trust 2024-1                                           | CUSIP: 24702GAL9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2028163.00   | 0.06%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                             | Dell Equipment Finance Trust 2023-2                                           | CUSIP: 24703GAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2505797.25   | 0.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                             | Dell Equipment Finance Trust 2025-1                                           | CUSIP: 24703UAL7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1460000 | PA      | $1485116.45   | 0.04%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137B4CT1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    726423 | PA      | $718417.97    | 0.02%             | 2043-08-15      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137FMKA9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   9612463 | PA      | $9520659.65   | 0.26%             | 2049-07-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 31392F6K8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     42388 | PA      | $42681.88     | 0.00%             | 2032-12-18      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                                       | Ally Bank Auto Credit-Linked Notes Series 2025-A                              | CUSIP: 02007G5H2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3321285 | PA      | $3342673.84   | 0.09%             |  |  |  | Yes           |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                                   | American Honda Finance Corp                                                   | CUSIP: 02665WFS5<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10015603.30  | 0.28%             | 2027-10-22      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                                                    | ARI Fleet Lease Trust 2025-A                                                  | CUSIP: 04033CAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2200000 | PA      | $2228240.30   | 0.06%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Boca Commercial Mortgage Trust                                           | BOCA Commercial Mortgage Trust 2025-BOCA                                      | CUSIP: 05619RAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8000000 | PA      | $8009991.20   | 0.22%             | 2042-12-15      | Floating      | 5.45%                 | Yes           |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                                                   | CNH Industrial Capital LLC                                                    | CUSIP: 12592BAV6<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10004162.90  | 0.28%             | 2030-10-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                                  | Carmax Auto Owner Trust 2025-1                                                | CUSIP: 14319WAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3550000 | PA      | $3636092.29   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                              | Citibank NA                                                                   | CUSIP: 17325FBH0<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   7690000 | PA      | $7704383.53   | 0.21%             | 2026-08-06      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                                         | Fannie Mae Connecticut Avenue Securities                                      | CUSIP: 207942AB9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  12000000 | PA      | $12429979.20  | 0.34%             | 2043-06-25      | Floating      | 6.97%                 | Yes           |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                             | Dell Equipment Finance Trust 2023-3                                           | CUSIP: 24702EAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $10085269.00  | 0.28%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                             | Dell Equipment Finance Trust 2023-3                                           | CUSIP: 24702EAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3537228.80   | 0.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                                                 | Electricite de France SA                                                      | CUSIP: 28504DAB9<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |   3385000 | PA      | $3498673.11   | 0.10%             | 2028-05-23      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| ENBRIDGE INC                                                             | Enbridge Inc                                                                  | CUSIP: 29250NBW4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1555000 | PA      | $1578079.65   | 0.04%             | 2026-11-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 3136BAS96<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4930108 | PA      | $4811687.39   | 0.13%             | 2050-07-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 3136BRJ40<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  23673706 | PA      | $23738323.78  | 0.65%             | 2054-05-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137F24X1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1391642 | PA      | $1359858.12   | 0.04%             | 2047-07-15      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137F7JH9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6119994 | PA      | $5763660.60   | 0.16%             | 2050-12-25      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 31396GE98<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    310288 | PA      | $309139.84    | 0.01%             | 2035-12-15      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 31396KM90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    395713 | PA      | $392381.60    | 0.01%             | 2036-09-25      | Floating      | 4.34%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 31396Q6Q7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    145295 | PA      | $146199.61    | 0.00%             | 2037-04-25      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 31396R6R3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     77400 | PA      | $77042.73     | 0.00%             | 2035-08-15      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 31398EK29<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    142656 | PA      | $144078.48    | 0.00%             | 2037-07-15      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master Owner Trust                                 | Ford Credit Floorplan Master Owner Trust A                                    | CUSIP: 34528QHY3<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $10046287.50  | 0.28%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                   | General Motors Financial Co Inc                                               | CUSIP: 37045XFD3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10047166.80  | 0.28%             | 2030-01-07      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| GREAT AMERICA LEASING RECEIVABLES                                        | GreatAmerica Leasing Receivables                                              | CUSIP: 39154TCE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4066615.00   | 0.11%             |  |  |  | Yes           |                  2 | On Loan: No      |
| COREBRIDGE GLOB FUNDING                                                  | Corebridge Global Funding                                                     | CUSIP: 00138CAX6<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5134366.55   | 0.14%             | 2029-01-12      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                                       | Ally Financial Inc                                                            | CUSIP: 02005NBZ2<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   4210000 | PA      | $4318207.31   | 0.12%             | 2029-05-15      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                                       | Ally Bank Auto Credit-Linked Notes Series 2024-B                              | CUSIP: 02007G4F7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3253647 | PA      | $3288808.21   | 0.09%             |  |  |  | Yes           |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                                      | American Express Co                                                           | CUSIP: 025816CL1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |  21550000 | PA      | $21629994.25  | 0.59%             | 2026-11-04      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                                                    | ARI Fleet Lease Trust 2024-B                                                  | CUSIP: 04033HAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3158577 | PA      | $3181083.38   | 0.09%             |  |  |  | Yes           |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                                                    | ARI Fleet Lease Trust 2025-A                                                  | CUSIP: 04033CAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2400000 | PA      | $2430688.68   | 0.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137BKUC2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  13769533 | PA      | $13536842.10  | 0.37%             | 2045-07-15      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| BANK OF NEW ZEALAND                                                      | Bank of New Zealand                                                           | CUSIP: 06407EAD7<br>LEI: N7LGVZM7X4UQ66T7LT74 | Long             | DBT              | CORP              | NZ        |  15000000 | PA      | $15061122.90  | 0.41%             | 2027-01-27      | Floating      | 4.72%                 | Yes           |                  2 | On Loan: No      |
| BOF URSA FUNDING                                                         | BOF URSA FUNDING                                                              | CUSIP: 072926AE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3650000 | PA      | $3701388.17   | 0.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 31397PFG0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    456287 | PA      | $453344.33    | 0.01%             | 2037-11-15      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| GREAT AMERICA LEASING RECEIVABLES                                        | GreatAmerica Leasing Receivables                                              | CUSIP: 39154TCL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3700000 | PA      | $3780442.07   | 0.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                                 | Ford Motor Credit Co LLC                                                      | CUSIP: 345397F99<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10037187.50  | 0.28%             | 2026-11-05      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| Golden Credit Card Trust                                                 | GOLDEN CREDIT CARD TRUST                                                      | CUSIP: 380881FD9<br>LEI: 549300BEDPMEONLTJX58 | Long             | ABS-O            | CORP              | US        |   4250000 | PA      | $4163178.03   | 0.11%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GREAT AMERICA LEASING RECEIVABLES                                        | GreatAmerica Leasing Receivables                                              | CUSIP: 39154TCF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3061589.40   | 0.08%             |  |  |  | Yes           |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust 2024-MRCO                                   | JW Trust 2024-BERY                                                            | CUSIP: 46676AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7000000 | PA      | $6999988.80   | 0.19%             | 2039-11-15      | Floating      | 5.34%                 | Yes           |                  2 | On Loan: No      |
| Bayview Opportunity Master Fund VII                                      | Bayview Opportunity Master Fund VII 2024-CAR1 LLC                             | CUSIP: 07336QAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1180381 | PA      | $1185152.38   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Bayview Opportunity Master Fund VII                                      | Bayview Opportunity Master Fund VII 2024-CAR1 LLC                             | CUSIP: 07336QAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    295095 | PA      | $296947.37    | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                                               | LAD Auto Receivables Trust 2024-3                                             | CUSIP: 505709AG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2800000 | PA      | $2813813.94   | 0.08%             |  |  |  | Yes           |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                                   | NextEra Energy Capital Holdings Inc                                           | CUSIP: 65339KDH0<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   7230000 | PA      | $7257324.77   | 0.20%             | 2028-02-04      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| Golden Credit Card Trust                                                 | Golden Credit Card Trust                                                      | CUSIP: 380881FG2<br>LEI: 549300BEDPMEONLTJX58 | Long             | ABS-O            | CORP              | CA        |   4000000 | PA      | $3908619.40   | 0.11%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust                                           | Hyundai Auto Receivables Trust 2025-C                                         | CUSIP: 44935JAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9000000 | PA      | $9038930.40   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| PenFed Auto Receivables Owner Trust                                      | PenFed Auto Receivables Owner Trust 2022-A                                    | CUSIP: 706874AG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    800000 | PA      | $801023.72    | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PenFed Auto Receivables Owner Trust                                      | PenFed Auto Receivables Owner Trust 2025-A                                    | CUSIP: 706916AF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1050000 | PA      | $1055065.10   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Navistar Financial Dealer Note Master Trust                              | Navistar Financial Dealer Note Master Owner Trust                             | CUSIP: 63938PBW8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7000000 | PA      | $7035866.95   | 0.19%             |  |  |  | Yes           |                  2 | On Loan: No      |
| NextGear Floorplan Master Owner Trust                                    | NextGear Floorplan Master Owner Trust                                         | CUSIP: 65341KCB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  13000000 | PA      | $13070500.95  | 0.36%             |  |  |  | Yes           |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                                  | CarMax Auto Owner Trust 2024-1                                                | CUSIP: 14318WAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3581371.50   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                                  | Carmax Auto Owner Trust 2025-1                                                | CUSIP: 14319WAH9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3965000 | PA      | $4016796.38   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Nissan Master Owner Trust Receivables                                    | Nissan Master Owner Trust Receivables                                         | CUSIP: 65479VAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  17000000 | PA      | $17004463.35  | 0.47%             |  |  |  | Yes           |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                                                  | Nissan Motor Acceptance Co LLC                                                | CUSIP: 65480CAE5<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7607178.98   | 0.21%             | 2026-09-15      | Fixed         | 6.95%                 | Yes           |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                                   | Santander Drive Auto Receivables Trust 2025-2                                 | CUSIP: 80287NAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  13500000 | PA      | $13712749.88  | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes                                  | Santander Bank Auto Credit-Linked Notes Series 2025-A                         | CUSIP: 80290CCT9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5017795.75   | 0.14%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                                   | Santander Drive Auto Receivables Trust 2025-4                                 | CUSIP: 802923AF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  13500000 | PA      | $13596906.38  | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                                                   | Standard Chartered PLC                                                        | CUSIP: 85325C2G6<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   6000000 | PA      | $6147591.60   | 0.17%             | 2031-05-13      | Floating      | 5.49%                 | Yes           |                  2 | On Loan: No      |
| STELLANTIS FIN US INC                                                    | Stellantis Finance US Inc                                                     | CUSIP: 85855CAM2<br>LEI: 549300QZ0AI8Q7LNON33 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3059537.64   | 0.08%             | 2028-03-17      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| TYSON FOODS INC                                                          | Tyson Foods Inc                                                               | CUSIP: 902494BL6<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |   6070000 | PA      | $6277506.96   | 0.17%             | 2029-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                                                     | Verizon Master Trust Series 2025-9                                            | CUSIP: 92348KEY5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10700000 | PA      | $10759494.14  | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                                       | Chase Home Lending Mortgage Trust 2023-1                                      | CUSIP: 16159PAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16004077 | PA      | $16185502.37  | 0.45%             | 2054-06-25      | Variable      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                                                | Chesapeake Funding II LLC                                                     | CUSIP: 165183DF8<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |   1800000 | PA      | $1816432.92   | 0.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                                                | Chesapeake Funding II LLC                                                     | CUSIP: 165183DJ0<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |   7324466 | PA      | $7326659.46   | 0.20%             |  |  |  | Yes           |                  2 | On Loan: No      |
| CITIBANK NA                                                              | Citibank NA                                                                   | CUSIP: 17325FBM9<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5011593.55   | 0.14%             | 2027-11-19      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| SFS Auto Receivables Securitization Trust                                | SFS Auto Receivables Securitization Trust 2024-2                              | CUSIP: 78397XAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5123842.50   | 0.14%             |  |  |  | Yes           |                  2 | On Loan: No      |
| SBNA Auto Receivables Trust                                              | SBNA Auto Receivables Trust 2024-A                                            | CUSIP: 78437PAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4225000 | PA      | $4293716.67   | 0.12%             |  |  |  | Yes           |                  2 | On Loan: No      |
| COLUMBIA PIPELINE HOLDCO                                                 | Columbia Pipelines Holding Co LLC                                             | CUSIP: 19828AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2825000 | PA      | $2851706.22   | 0.08%             | 2026-08-15      | Fixed         | 6.06%                 | Yes           |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                                             | Drive Auto Receivables Trust 2024-1                                           | CUSIP: 26208WAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  14500000 | PA      | $14705918.85  | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| SBNA Auto Receivables Trust                                              | SBNA Auto Receivables Trust 2024-A                                            | CUSIP: 78437PAH6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6500000 | PA      | $6747684.13   | 0.19%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                                   | Sequoia Mortgage Trust 2012-6                                                 | CUSIP: 81744NAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    349100 | PA      | $305593.63    | 0.01%             | 2042-12-25      | Variable      | 1.81%                 | No            |                  2 | On Loan: No      |
| Stellantis Financial Underwritten Enhanced Lease Trust                   | Stellantis Financial Underwritten Enhanced Lease Trust 2025-A                 | CUSIP: 858928AG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7485000 | PA      | $7585358.51   | 0.21%             |  |  |  | Yes           |                  2 | On Loan: No      |
| VERISK ANALYTICS INC                                                     | Verisk Analytics Inc                                                          | CUSIP: 92345YAM8<br>LEI: 549300I1YSWNIRKBWP67 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1360825.39   | 0.04%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                                                 | Volkswagen Group of America Finance LLC                                       | CUSIP: 928668CD2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10009744.70  | 0.28%             | 2026-03-20      | Floating      | 4.55%                 | Yes           |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                                                 | Volkswagen Group of America Finance LLC                                       | CUSIP: 928668CT7<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2007284.28   | 0.06%             | 2027-03-25      | Floating      | 4.79%                 | Yes           |                  2 | On Loan: No      |
| Waikiki Beach Hotel Trust                                                | WBHT Commercial Mortgage Trust 2025-WBM                                       | CUSIP: 92943QAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11900000 | PA      | $11911147.92  | 0.33%             | 2042-06-15      | Floating      | 5.49%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO BANK NA                                                      | Wells Fargo Bank NA                                                           | CUSIP: 94988J6G7<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6042186.84   | 0.17%             | 2026-12-11      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| American Express Credit Account Master Trust                             | American Express Credit Account Master Trust                                  | CUSIP: 02582JKH2<br>LEI: 549300Y4SA5G3GIJTP18 | Long             | ABS-O            | CORP              | US        |   8000000 | PA      | $8153464.40   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                                   | American Honda Finance Corp                                                   | CUSIP: 02665WGD7<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   9685000 | PA      | $9779766.18   | 0.27%             | 2027-07-09      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Countrywide Asset-Backed Certificates                                    | CWABS Inc Asset-Backed Certificates Trust 2004-4                              | CUSIP: 1266715J1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     28887 | PA      | $29250.28     | 0.00%             | 2034-08-25      | Floating      | 3.22%                 | No            |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                                                    | ARI Fleet Lease Trust 2025-B                                                  | CUSIP: 00193GAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3670000 | PA      | $3721795.99   | 0.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                                 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                     | CUSIP: 00774MBC8<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   7000000 | PA      | $7255568.18   | 0.20%             | 2028-06-06      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                                       | Ally Bank Auto Credit-Linked Notes Series 2025-A                              | CUSIP: 02007G5G4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1245482 | PA      | $1251449.89   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                                       | Ally Bank Auto Credit-Linked Notes Series 2025-B                              | CUSIP: 02007G6R9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4928498 | PA      | $4942758.67   | 0.14%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Ally Auto Receivables Trust                                              | Ally Auto Receivables Trust 2023-1                                            | CUSIP: 02007WAF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4074572.80   | 0.11%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Ally Auto Receivables Trust                                              | ALLY AUTO RECEIVABLES TRUST 2023-A                                            | CUSIP: 02008NAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4043275.80   | 0.11%             |  |  |  | Yes           |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                    | Wells Fargo & Co                                                              | CUSIP: 95000U3S0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  13045000 | PA      | $13077511.79  | 0.36%             | 2028-01-24      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding LLC                                           | Wheels Fleet Lease Funding 1 LLC                                              | CUSIP: 96328GCS4<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5014659.00   | 0.14%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                             | Dell Equipment Finance Trust 2025-1                                           | CUSIP: 24703UAJ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1730000 | PA      | $1755769.65   | 0.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GREAT AMERICA LEASING RECEIVABLES                                        | GreatAmerica Leasing Receivables Funding LLC                                  | CUSIP: 39154TCT3<br>LEI: 549300JFP7GIDD4UWO79 | Long             | ABS-O            | CORP              | US        |   2600000 | PA      | $2632876.48   | 0.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| HPEFS Equipment Trust                                                    | HPEFS Equipment Trust 2025-2                                                  | CUSIP: 442927AE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3004471.20   | 0.08%             |  |  |  | Yes           |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                                  | Hyundai Capital America                                                       | CUSIP: 44891AEC7<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10067932.10  | 0.28%             | 2030-09-18      | Floating      | 5.02%                 | Yes           |                  2 | On Loan: No      |
| Chase Auto Credit Linked Notes                                           | Chase Auto Credit Linked Notes Series 2025-1                                  | CUSIP: 46591HCT5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2234215 | PA      | $2251403.26   | 0.06%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PFS Financing Corp.                                                      | PFS Financing Corp                                                            | CUSIP: 69335PFH3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3509481.85   | 0.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PFIZER INC                                                               | Pfizer Inc                                                                    | CUSIP: 717081FC2<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |   2630000 | PA      | $2638897.03   | 0.07%             | 2027-11-15      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| SBNA Auto Receivables Trust                                              | SBNA Auto Receivables Trust 2025-SF1                                          | CUSIP: 78437XAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1160958 | PA      | $1161738.65   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| AON NORTH AMERICA INC                                                    | Aon North America Inc                                                         | CUSIP: 03740MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4557442.37   | 0.13%             | 2027-03-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                     | Bank of America Corp                                                          | CUSIP: 06051GJV2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15060160.65  | 0.41%             | 2027-07-22      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                                             | Drive Auto Receivables Trust                                                  | CUSIP: 262102AF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  17000000 | PA      | $17314405.65  | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Evergreen Credit Card Trust                                              | Evergreen Credit Card Trust                                                   | CUSIP: 30023JCS5<br>LEI: 5493002G9KVV6J3CNU15 | Long             | ABS-O            | CORP              | CA        |   6400000 | PA      | $6457058.56   | 0.18%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Evergreen Credit Card Trust                                              | Evergreen Credit Card Trust                                                   | CUSIP: 30023JDA3<br>LEI: 5493002G9KVV6J3CNU15 | Long             | ABS-O            | CORP              | CA        |   2586000 | PA      | $2594434.37   | 0.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 3136BB3Z3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8425093 | PA      | $8058329.11   | 0.22%             | 2060-10-25      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                                   | Sempra Energy                                                                 | CUSIP: 816851BQ1<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10065872.40  | 0.28%             | 2026-08-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BAYER US FINANCE LLC                                                     | Bayer US Finance LLC                                                          | CUSIP: 07274EAH6<br>LEI: 54930093Q75GSEM74I71 | Long             | DBT              | CORP              | US        |   3420000 | PA      | $3470096.91   | 0.10%             | 2026-11-21      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| Bayview Opportunity Master Fund VII                                      | Bayview Opportunity Master Fund VII 2024-CAR1 LLC                             | CUSIP: 07336QAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    590190 | PA      | $596061.60    | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 3136BVBV9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  28277982 | PA      | $28241229.45  | 0.78%             | 2055-03-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137BRN76<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    741217 | PA      | $732694.88    | 0.02%             | 2046-08-15      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                         | Freddie Mac Multifamily Structured Pass Through Certificates                  | CUSIP: 3137F73C7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4940514 | PA      | $4935495.67   | 0.14%             | 2027-10-25      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                         | Freddie Mac Multifamily Structured Pass Through Certificates                  | CUSIP: 3137F8MQ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6632070 | PA      | $6611124.85   | 0.18%             | 2030-12-25      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP                                                         | Black Hills Corp                                                              | CUSIP: 092113AY5<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |   7450000 | PA      | $7454929.74   | 0.21%             | 2031-01-31      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                          | CVS Health Corp                                                               | CUSIP: 126650DS6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   3340000 | PA      | $3341313.69   | 0.09%             | 2026-02-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137FU5D2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  25924637 | PA      | $25174505.23  | 0.69%             | 2050-07-25      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                         | Freddie Mac Multifamily Structured Pass Through Certificates                  | CUSIP: 3137H2NK6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   8978487 | PA      | $8926046.60   | 0.25%             | 2028-08-25      | Floating      | 4.19%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                                                   | Canadian Imperial Bank of Commerce                                            | CUSIP: 13607PVR2<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |  10000000 | PA      | $10015869.00  | 0.28%             | 2028-01-13      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                                                   | Canadian Imperial Bank of Commerce                                            | CUSIP: 13607QFC1<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   6250000 | PA      | $6262961.56   | 0.17%             | 2028-09-08      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                                  | CarMax Auto Owner Trust 2024-1                                                | CUSIP: 14318WAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5094786.50   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                                  | Carmax Auto Owner Trust 2025-1                                                | CUSIP: 14319WAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3825000 | PA      | $3918529.67   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae Pool                                                               | CUSIP: 31385HJR4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    149022 | PA      | $146904.76    | 0.00%             | 2034-07-01      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae Pool                                                               | CUSIP: 31385YCQ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17740 | PA      | $17727.88     | 0.00%             | 2040-05-01      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                                                | Chesapeake Funding II LLC                                                     | CUSIP: 165183DB7<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3049107.75   | 0.08%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                                                | Chesapeake Funding II LLC                                                     | CUSIP: 165183DG6<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3549034.30   | 0.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 31396LM49<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    163541 | PA      | $161882.89    | 0.00%             | 2036-12-25      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 31397B5Q0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    131810 | PA      | $130277.49    | 0.00%             | 2036-09-15      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                            | Citigroup Inc                                                                 | CUSIP: 172967MZ1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15019918.50  | 0.41%             | 2027-06-09      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                                                 | Citizens Financial Group Inc                                                  | CUSIP: 174610BF1<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   3770000 | PA      | $3932874.63   | 0.11%             | 2030-01-23      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                                       | Credit Agricole SA                                                            | CUSIP: 22535WAQ0<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |  10000000 | PA      | $10054324.40  | 0.28%             | 2029-01-09      | Floating      | 5.11%                 | Yes           |                  2 | On Loan: No      |
| DLLST LLC                                                                | DLLST 2024-1 LLC                                                              | CUSIP: 23346HAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4677978 | PA      | $4697725.26   | 0.13%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 31398EDL5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     52384 | PA      | $52532.48     | 0.00%             | 2036-07-15      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| First National Master Note Trust                                         | First National Master Note Trust                                              | CUSIP: 32113CBV1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5016461.00   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| First National Master Note Trust                                         | First National Master Note Trust                                              | CUSIP: 32113CCB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5300000 | PA      | $5407639.56   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Ford Credit Auto Lease Trust                                             | Ford Credit Auto Lease Trust 2023-B                                           | CUSIP: 34529NAH3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7000000 | PA      | $7030404.15   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                             | Dell Equipment Finance Trust 2023-3                                           | CUSIP: 24702EAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5500000 | PA      | $5546936.45   | 0.15%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                             | Dell Equipment Finance Trust 2024-1                                           | CUSIP: 24702GAJ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1014598.70   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                             | Dell Equipment Finance Trust 2025-2                                           | CUSIP: 24703VAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7500000 | PA      | $7533966.75   | 0.21%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                                             | Drive Auto Receivables Trust 2025-2                                           | CUSIP: 262103AG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11500000 | PA      | $11531240.90  | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                                           | Enterprise Fleet Financing 2022-3 LLC                                         | CUSIP: 29374FAB9<br>LEI: RKWYUSIDZTWNAX1D9U96 | Long             | ABS-O            | CORP              | US        |    129195 | PA      | $129252.40    | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Evergreen Credit Card Trust                                              | Evergreen Credit Card Trust                                                   | CUSIP: 30023JCT3<br>LEI: 5493002G9KVV6J3CNU15 | Long             | ABS-O            | CORP              | CA        |   6000000 | PA      | $6057774.60   | 0.17%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GECU Auto Receivables Trust                                              | GECU Auto Receivables Trust 2023-1                                            | CUSIP: 36169EAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7000000 | PA      | $7083677.30   | 0.19%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                                                   | GE HealthCare Technologies Inc                                                | CUSIP: 36266GAD9<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |   1715000 | PA      | $1719956.86   | 0.05%             | 2028-12-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Evergreen Credit Card Trust                                              | Evergreen Credit Card Trust                                                   | CUSIP: 30023JCX4<br>LEI: 5493002G9KVV6J3CNU15 | Long             | ABS-O            | CORP              | CA        |   7704000 | PA      | $7814151.02   | 0.21%             |  |  |  | Yes           |                  2 | On Loan: No      |
| META PLATFORMS INC                                                       | Meta Platforms Inc                                                            | CUSIP: 30303MAB8<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   8610000 | PA      | $8630401.05   | 0.24%             | 2030-11-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 3136AVR27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1305913 | PA      | $1282604.99   | 0.04%             | 2047-04-25      | Floating      | 4.34%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 3136B3QC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  13371225 | PA      | $13167765.84  | 0.36%             | 2048-12-25      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                 | Government National Mortgage Association                                      | CUSIP: 38375B4Y5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    341420 | PA      | $341722.44    | 0.01%             | 2063-07-20      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                 | Government National Mortgage Association                                      | CUSIP: 38384MPN1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  27898807 | PA      | $27942945.50  | 0.77%             | 2054-04-20      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                                         | Fannie Mae Connecticut Avenue Securities                                      | CUSIP: 20755CAB4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  11000000 | PA      | $11214778.30  | 0.31%             | 2043-10-25      | Floating      | 6.37%                 | Yes           |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 31397MGS0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     56775 | PA      | $57375.46     | 0.00%             | 2037-06-25      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Lease Securitization Trust                                  | Hyundai Auto Lease Securitization Trust 2025-A                                | CUSIP: 44935WAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4865000 | PA      | $4932035.81   | 0.14%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 3136B6BF9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  10597280 | PA      | $10476201.00  | 0.29%             | 2049-09-25      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                         | Freddie Mac Multifamily Structured Pass Through Certificates                  | CUSIP: 3137F84M2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  12779715 | PA      | $12721665.55  | 0.35%             | 2030-11-25      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                                               | LAD Auto Receivables Trust 2024-3                                             | CUSIP: 505709AF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3200000 | PA      | $3212875.52   | 0.09%             |  |  |  | Yes           |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                                               | LAD Auto Receivables Trust 2025-2                                             | CUSIP: 505912AH8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4900000 | PA      | $4946219.25   | 0.14%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137FNQV5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2933447 | PA      | $2908241.55   | 0.08%             | 2049-09-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                         | Freddie Mac Multifamily Structured Pass Through Certificates                  | CUSIP: 3137FX4E5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    327542 | PA      | $327005.65    | 0.01%             | 2030-08-25      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                 | Government National Mortgage Association                                      | CUSIP: 38384QDV7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  29874738 | PA      | $29882197.62  | 0.82%             | 2054-07-20      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| GREAT AMERICA LEASING RECEIVABLES                                        | GreatAmerica Leasing Receivables Funding LLC                                  | CUSIP: 39154GAL0<br>LEI: 549300JFP7GIDD4UWO79 | Long             | ABS-O            | CORP              | US        |   8000000 | PA      | $8152251.20   | 0.22%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                                | Nelnet Student Loan Trust 2021-D                                              | CUSIP: 64034YAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  20792958 | PA      | $20738175.15  | 0.57%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes                                  | Santander Bank Auto Credit-Linked Notes Series 2025-A                         | CUSIP: 80290CCU6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2508745.13   | 0.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GreenState Auto Receivables Trust                                        | GreenState Auto Receivables Trust 2024-1                                      | CUSIP: 39573AAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1600000 | PA      | $1627195.04   | 0.04%             |  |  |  | Yes           |                  2 | On Loan: No      |
| HPEFS Equipment Trust                                                    | HPEFS Equipment Trust 2024-1                                                  | CUSIP: 403963AF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7700000 | PA      | $7781372.06   | 0.21%             |  |  |  | Yes           |                  2 | On Loan: No      |
| HPEFS Equipment Trust                                                    | HPEFS Equipment Trust 2025-1                                                  | CUSIP: 40446EAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11018000 | PA      | $11139945.57  | 0.31%             |  |  |  | Yes           |                  2 | On Loan: No      |
| HOST HOTELS & RESORTS LP                                                 | Host Hotels & Resorts LP                                                      | CUSIP: 44107TBE5<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              |  | US        |   3835000 | PA      | $3839648.06   | 0.11%             | 2028-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137HCY63<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   9969430 | PA      | $10007869.76  | 0.28%             | 2054-06-25      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137HDLC2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  20130759 | PA      | $20156216.80  | 0.55%             | 2054-07-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                                                 | Volkswagen Group of America Finance LLC                                       | CUSIP: 928668CW0<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   3265000 | PA      | $3284389.99   | 0.09%             | 2028-09-11      | Fixed         | 4.55%                 | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137HFHN8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  20537272 | PA      | $20619796.92  | 0.57%             | 2054-07-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae Pool                                                               | CUSIP: 31385HHZ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10049 | PA      | $9945.16      | 0.00%             | 2030-04-01      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 31395ABZ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    476412 | PA      | $475898.84    | 0.01%             | 2034-06-15      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 31395NAY3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     94599 | PA      | $94368.10     | 0.00%             | 2036-06-25      | Floating      | 4.42%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON NATIONAL BANK                                                 | Huntington National Bank/The                                                  | CUSIP: 44644MAL5<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4994871.20   | 0.14%             | 2028-04-12      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                                  | Hyundai Capital America                                                       | CUSIP: 44891ACM7<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6079061.82   | 0.17%             | 2026-09-21      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 31396QVX4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8073 | PA      | $8065.30      | 0.00%             | 2039-08-25      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 31396RKK2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    358667 | PA      | $356932.41    | 0.01%             | 2036-05-15      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 31396XB29<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    117895 | PA      | $116986.42    | 0.00%             | 2037-07-25      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 31397GZ94<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    135208 | PA      | $133787.37    | 0.00%             | 2036-07-15      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae Pool                                                               | CUSIP: 31402GMR1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    188954 | PA      | $199445.25    | 0.01%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federated Core Trust III - Federated Project and Trade Finance Core Fund | FEDERATED CORE TR III FEDERATED PROJ+TRADE FIN CORE                           | CUSIP: 31415N103<br>LEI: 549300K79QCJYF3J1472 | Long             | EC               | RF                | US        |   8252200 | NS      | $73609622.56  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac Pool                                                              | CUSIP: 3142J6B28<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  24353680 | PA      | $24701038.47  | 0.68%             | 2055-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fontainebleau Miami Beach Trust                                          | Fontainebleau Miami Beach Mortgage Trust 2024-FBLU                            | CUSIP: 34461WAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1750000 | PA      | $1753814.83   | 0.05%             | 2039-12-15      | Floating      | 5.60%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Auto Lease Securitization Trust                                  | Hyundai Auto Lease Securitization Trust 2024-A                                | CUSIP: 448988AF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12000000 | PA      | $12079035.60  | 0.33%             |  |  |  | Yes           |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust 2024-MRCO                                   | JW Commercial Mortgage Trust 2024-MRCO                                        | CUSIP: 46657XAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  22000000 | PA      | $22054786.60  | 0.61%             | 2039-06-15      | Floating      | 6.14%                 | Yes           |                  2 | On Loan: No      |
| Ford Credit Floorplan Master Owner Trust                                 | Ford Credit Floorplan Master Owner Trust A                                    | CUSIP: 34528QJL9<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |  12000000 | PA      | $12038293.80  | 0.33%             |  |  |  | Yes           |                  2 | On Loan: No      |
| General Motors                                                           | GMF Floorplan Owner Revolving Trust                                           | CUSIP: 361886DR2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  16700000 | PA      | $16714690.16  | 0.46%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                   | General Motors Financial Co Inc                                               | CUSIP: 37045XFH4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   9985000 | PA      | $10121293.95  | 0.28%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                  | Goldman Sachs Group Inc/The                                                   | CUSIP: 38141GYR9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  12275000 | PA      | $12318516.96  | 0.34%             | 2027-10-21      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| MASSMUTUAL GLOBAL FUNDIN                                                 | MassMutual Global Funding II                                                  | CUSIP: 57629TBS5<br>LEI: 549300K1IE3K7YU6VG29 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10041944.10  | 0.28%             | 2027-04-09      | Floating      | 4.72%                 | Yes           |                  2 | On Loan: No      |
| Master Credit Card Trust                                                 | Master Credit Card Trust II                                                   | CUSIP: 576339EA9<br>LEI: 549300G7G68IV2D8IM76 | Long             | ABS-O            | CORP              | CA        |   2750000 | PA      | $2738384.41   | 0.08%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                 | Government National Mortgage Association                                      | CUSIP: 38375BC42<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    588041 | PA      | $587034.53    | 0.02%             | 2062-11-20      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                 | Government National Mortgage Association                                      | CUSIP: 38384APX5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  22438091 | PA      | $22435007.68  | 0.62%             | 2053-05-20      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                 | Government National Mortgage Association                                      | CUSIP: 38385JJJ3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  19977661 | PA      | $20031398.51  | 0.55%             | 2055-11-20      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                  | HCA Inc                                                                       | CUSIP: 404119CX5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   5385000 | PA      | $5421491.08   | 0.15%             | 2028-03-01      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| MET LIFE GLOB FUNDING I                                                  | Metropolitan Life Global Funding I                                            | CUSIP: 592179KS3<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |   6855000 | PA      | $6884749.33   | 0.19%             | 2028-08-25      | Floating      | 4.48%                 | Yes           |                  2 | On Loan: —       |
| NATIONAL AUSTRALIA BANK                                                  | National Australia Bank Ltd                                                   | CUSIP: 632525CC3<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |   7000000 | PA      | $7058483.95   | 0.19%             | 2030-01-14      | Floating      | 4.76%                 | Yes           |                  2 | On Loan: No      |
| HPEFS Equipment Trust                                                    | HPEFS Equipment Trust 2025-2                                                  | CUSIP: 442927AF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3003319.20   | 0.08%             |  |  |  | Yes           |                  2 | On Loan: No      |
| HPEFS Equipment Trust                                                    | HPEFS Equipment Trust 2023-2                                                  | CUSIP: 44328UAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7000000 | PA      | $7063598.50   | 0.19%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust                                           | Hyundai Auto Receivables Trust 2024-A                                         | CUSIP: 448973AG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7000000 | PA      | $7160897.80   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Impac CMB Trust                                                          | Impac CMB Trust Series 2004-9                                                 | CUSIP: 45254NKY2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     63385 | PA      | $62075.05     | 0.00%             | 2035-01-25      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                                               | LAD Auto Receivables Trust 2024-2                                             | CUSIP: 505920AE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3574339.65   | 0.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Master Credit Card Trust                                                 | Master Credit Card Trust II                                                   | CUSIP: 576339DS1<br>LEI: 549300G7G68IV2D8IM76 | Long             | ABS-O            | CORP              | CA        |   5000000 | PA      | $5175013.50   | 0.14%             |  |  |  | Yes           |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                                                    | ARI Fleet Lease Trust 2024-A                                                  | CUSIP: 00218KAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2586167 | PA      | $2599013.03   | 0.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                                                    | ARI Fleet Lease Trust 2024-A                                                  | CUSIP: 00218KAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1310000 | PA      | $1326488.84   | 0.04%             |  |  |  | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY PVT BANK                                                  | Morgan Stanley Private Bank NA                                                | CUSIP: 61776NZT3<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6015610.08   | 0.17%             | 2028-11-17      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| NATWEST MARKETS PLC                                                      | NatWest Markets PLC                                                           | CUSIP: 63906YAE8<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |   9000000 | PA      | $9025840.08   | 0.25%             | 2026-09-29      | Floating      | 4.49%                 | Yes           |                  2 | On Loan: No      |
| AIRCASTLE / IRELAND DAC                                                  | Aircastle Ltd / Aircastle Ireland DAC                                         | CUSIP: 00929JAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   6200000 | PA      | $6268399.83   | 0.17%             | 2030-09-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                                       | Ally Bank Auto Credit-Linked Notes Series 2024-B                              | CUSIP: 02007G4E0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2440236 | PA      | $2460762.67   | 0.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Navient Student Loan Trust                                               | Navient Private Education Refi Loan Trust 2019-D                              | CUSIP: 63941CAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2750034 | PA      | $2745184.32   | 0.08%             |  |  |  | Yes           |                  2 | On Loan: No      |
| ORL TRUST                                                                | ORL Trust 2024-GLKS                                                           | CUSIP: 67120DAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  23000000 | PA      | $23050094.00  | 0.63%             | 2039-12-15      | Floating      | 5.64%                 | Yes           |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                                       | Ally Bank Auto Credit-Linked Notes Series 2025-B                              | CUSIP: 02007G6S7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3998593 | PA      | $4009831.00   | 0.11%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                                       | Ally Bank Auto Credit-Linked Notes Series 2024-A                              | CUSIP: 02007GZ63<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1423140 | PA      | $1445150.02   | 0.04%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Porsche Innovative Lease Owner Trust                                     | Porsche Innovative Lease Owner Trust 2024-2                                   | CUSIP: 73328NAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1119544 | PA      | $1119726.67   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                                     | Royal Bank of Canada                                                          | CUSIP: 78017DAB4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  10000000 | PA      | $10028181.10  | 0.28%             | 2029-01-24      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                                       | Ally Bank Auto Credit-Linked Notes Series 2024-A                              | CUSIP: 02007GZ71<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    948760 | PA      | $964448.42    | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Ally Auto Receivables Trust                                              | Ally Auto Receivables Trust 2024-1                                            | CUSIP: 02008FAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3033662.40   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| SFS Auto Receivables Securitization Trust                                | SFS Auto Receivables Securitization Trust 2025-3                              | CUSIP: 78398KAF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12000000 | PA      | $12028528.20  | 0.33%             |  |  |  | Yes           |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                         | SMB Private Education Loan Trust 2021-D                                       | CUSIP: 78449MAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4507179 | PA      | $4453821.17   | 0.12%             |  |  |  | Yes           |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                                      | American Express Co                                                           | CUSIP: 025816EE5<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6077675.16   | 0.17%             | 2029-04-25      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| American Express Credit Account Master Trust                             | American Express Credit Account Master Trust Series 2025-5                    | CUSIP: 02582JKT6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3400000 | PA      | $3472558.55   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                         | SMB Private Education Loan Trust 2021-E                                       | CUSIP: 78450MAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11598774 | PA      | $11469641.66  | 0.32%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                                   | Santander Drive Auto Receivables Trust 2025-3                                 | CUSIP: 80288JAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  21700000 | PA      | $21945727.55  | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                                      | American Tower Corp                                                           | CUSIP: 03027XCN8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |   4515000 | PA      | $4613219.67   | 0.13%             | 2030-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| AUST & NZ BANKING GROUP                                                  | Australia & New Zealand Banking Group Ltd                                     | CUSIP: 05252ADV0<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |   4120000 | PA      | $4129810.63   | 0.11%             | 2028-12-08      | Floating      | 4.37%                 | Yes           |                  2 | On Loan: No      |
| Navistar Financial Dealer Note Master Trust                              | Navistar Financial Dealer Note Master Owner Trust II 2025-1                   | CUSIP: 63938PCB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1993083.50   | 0.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                                | Nelnet Student Loan Trust 2021-C                                              | CUSIP: 64035GAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3497712 | PA      | $3485129.85   | 0.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| BROADCOM INC                                                             | Broadcom Inc                                                                  | CUSIP: 11135FBZ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   9570000 | PA      | $9746392.33   | 0.27%             | 2027-07-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: —       |
| CARDS II Trust                                                           | CARDS II Trust                                                                | CUSIP: 14161GCK4<br>LEI: 549300GWPYLNK6X47W76 | Long             | ABS-O            | CORP              | CA        |  13650000 | PA      | $13762289.00  | 0.38%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Citicorp Homeowners, Inc.                                                | CHI Commercial Mortgage Trust 2025-SFT                                        | CUSIP: 16706GAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4200000 | PA      | $4290449.94   | 0.12%             | 2042-04-15      | Variable      | 5.87%                 | Yes           |                  2 | On Loan: No      |
| CITIGROUP INC                                                            | Citigroup Inc                                                                 | CUSIP: 172967NH0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8063666.08   | 0.22%             | 2028-02-24      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Stellantis Financial Underwritten Enhanced Lease Trust                   | Stellantis Financial Underwritten Enhanced Lease Trust 2025-C                 | CUSIP: 85855EAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  13200000 | PA      | $13247053.38  | 0.36%             |  |  |  | Yes           |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                                                     | Targa Resources Corp                                                          | CUSIP: 87612GAP6<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   4805000 | PA      | $4903121.85   | 0.13%             | 2030-09-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CONCENTRIX CORP                                                          | Concentrix Corp                                                               | CUSIP: 20602DAA9<br>LEI: 5493000EAJN1KMPVA737 | Long             | DBT              | CORP              | US        |  15340000 | PA      | $15492520.25  | 0.43%             | 2026-08-02      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                             | Dell Equipment Finance Trust 2025-2                                           | CUSIP: 24703VAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1975000 | PA      | $1983721.90   | 0.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| TEXAS Commercial Mortgage Trust                                          | TEXAS Commercial Mortgage Trust 2025-TWR                                      | CUSIP: 88231WAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9000000 | PA      | $8988755.40   | 0.25%             | 2042-04-15      | Floating      | 5.04%                 | Yes           |                  2 | On Loan: No      |
| TEXAS Commercial Mortgage Trust                                          | TEXAS Commercial Mortgage Trust 2025-TWR                                      | CUSIP: 88231WAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1400000 | PA      | $1397378.64   | 0.04%             | 2042-04-15      | Floating      | 5.89%                 | Yes           |                  2 | On Loan: No      |
| Nissan Auto Lease Trust                                                  | Nissan Auto Lease Trust 2025-B                                                | CUSIP: 65481RAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6088222.80   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| ONEOK INC                                                                | ONEOK Inc                                                                     | CUSIP: 682680BH5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   5895000 | PA      | $5960657.74   | 0.16%             | 2026-11-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                                             | Drive Auto Receivables Trust 2024-2                                           | CUSIP: 26207AAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  15000000 | PA      | $15152401.50  | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                                           | Enterprise Fleet Financing 2024-1 LLC                                         | CUSIP: 29375PAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8799169 | PA      | $8872049.13   | 0.24%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Trillium Credit Card Trust II                                            | Trillium Credit Card Trust II                                                 | CUSIP: 89621ABN8<br>LEI: 549300P7QN1SDIOQVL28 | Long             | ABS-O            | CORP              | CA        |   7174000 | PA      | $7203697.85   | 0.20%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Trillium Credit Card Trust II                                            | Trillium Credit Card Trust II                                                 | CUSIP: 89621ACD9<br>LEI: 549300P7QN1SDIOQVL28 | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6020733.30   | 0.17%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                                           | Enterprise Fleet Financing 2024-3 LLC                                         | CUSIP: 29375QAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4042413 | PA      | $4058064.13   | 0.11%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac Pool                                                              | CUSIP: 3132DWLL5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  20283569 | PA      | $20591891.17  | 0.57%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 3136BWZL3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  23499235 | PA      | $23642088.88  | 0.65%             | 2055-08-25      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137FUQ98<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  10999075 | PA      | $10881342.23  | 0.30%             | 2050-07-25      | Floating      | 4.34%                 | No            |                  2 | On Loan: No      |
| U.S. Bank National Association                                           | US Bank NA                                                                    | CUSIP: 90357PAV6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1294632 | PA      | $1307095.44   | 0.04%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137HDEX4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  14496179 | PA      | $14573743.70  | 0.40%             | 2054-06-25      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 3137HHAP6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  18928225 | PA      | $18922153.23  | 0.52%             | 2054-11-25      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae Pool                                                               | CUSIP: 31388XVV3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    150916 | PA      | $147928.77    | 0.00%             | 2033-08-01      | Floating      | 4.21%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 31396RKP1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    136506 | PA      | $136051.16    | 0.00%             | 2036-05-15      | Floating      | 4.48%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                                                 | Penske Truck Leasing Co Lp / PTL Finance Corp                                 | CUSIP: 709599BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1985000 | PA      | $2008237.86   | 0.06%             | 2027-01-12      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                                   | Philip Morris International Inc                                               | CUSIP: 718172EB1<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   8335000 | PA      | $8346790.02   | 0.23%             | 2028-10-27      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 31398NWL4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3082112 | PA      | $3071426.93   | 0.08%             | 2040-10-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| Federated Core Trust - Federated Bank Loan Core Fund                     | FEDERATED CORE TR FEDERATED BANK LOAN CORE FUND                               | CUSIP: 31409N804<br>LEI: 549300FJK5JF0KIC2N83 | Long             | EC               | RF                | US        |  14285601 | NS      | $122427598.22 | 3.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae Pool                                                               | CUSIP: 3140A92G4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  16734886 | PA      | $17186451.76  | 0.47%             | 2054-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| First National Master Note Trust                                         | First National Master Note Trust                                              | CUSIP: 32113CBY5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8000000 | PA      | $8100925.60   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Ally Auto Receivables Trust                                              | Ally Auto Receivables Trust 2024-1                                            | CUSIP: 02008FAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3539043.90   | 0.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                     | Bank of America Corp                                                          | CUSIP: 06051GMN6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5008669.00   | 0.14%             | 2029-01-24      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                                  | CarMax Auto Owner Trust 2024-2                                                | CUSIP: 14319EAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7000000 | PA      | $7256573.80   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| DLLAD LLC                                                                | Dllad 2024-1 LLC                                                              | CUSIP: 23346MAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    941800 | PA      | $946838.34    | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Ford Credit Auto Lease Trust                                             | Ford Credit Auto Lease Trust 2025-A                                           | CUSIP: 345282AF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10250000 | PA      | $10370119.75  | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust                                             | Ford Credit Auto Owner Trust 2022-C                                           | CUSIP: 34535AAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2320000 | PA      | $2327947.16   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                                                   | Daimler Truck Finance North America LLC                                       | CUSIP: 233853BB5<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |  12500000 | PA      | $12483274.50  | 0.34%             | 2028-01-13      | Floating      | 4.81%                 | Yes           |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                             | Dell Equipment Finance Trust 2024-1                                           | CUSIP: 24702GAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2031404.80   | 0.06%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GECU Auto Receivables Trust                                              | GECU Auto Receivables Trust 2023-1                                            | CUSIP: 36169EAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2650000 | PA      | $2689367.21   | 0.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GM Financial Securitized Term Auto Receivables Tr                        | Gm Financial Consumer Automobile Receivables Trust 2025-3                     | CUSIP: 379957AG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2600000 | PA      | $2628041.26   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| GREAT AMERICA LEASING RECEIVABLES                                        | GreatAmerica Leasing Receivables Funding LLC Series 2024-2                    | CUSIP: 39154GAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11760000 | PA      | $11981336.72  | 0.33%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GREAT AMERICA LEASING RECEIVABLES                                        | GreatAmerica Leasing Receivables Funding LLC                                  | CUSIP: 39154GAM8<br>LEI: 549300JFP7GIDD4UWO79 | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3051985.20   | 0.08%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Evergreen Credit Card Trust                                              | Evergreen Credit Card Trust                                                   | CUSIP: 30023JCY2<br>LEI: 5493002G9KVV6J3CNU15 | Long             | ABS-O            | CORP              | CA        |   3100000 | PA      | $3136697.03   | 0.09%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae REMICS                                                             | CUSIP: 3136B5MD4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    946673 | PA      | $938435.58    | 0.03%             | 2049-07-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| SBNA Auto Receivables Trust                                              | SBNA Auto Receivables Trust 2025-SF1                                          | CUSIP: 78437XAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1175000 | PA      | $1186690.55   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes                                  | Santander Bank Auto Credit-Linked Notes Series 2024-B                         | CUSIP: 80280BAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3420848 | PA      | $3447588.68   | 0.09%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GREAT AMERICA LEASING RECEIVABLES                                        | GreatAmerica Leasing Receivables                                              | CUSIP: 39154TCM8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1225000 | PA      | $1254298.02   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GREAT AMERICA LEASING RECEIVABLES                                        | GreatAmerica Leasing Receivables Funding LLC                                  | CUSIP: 39154TCS5<br>LEI: 549300JFP7GIDD4UWO79 | Long             | ABS-O            | CORP              | US        |   2535000 | PA      | $2560614.15   | 0.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                         | Freddie Mac Multifamily Structured Pass Through Certificates                  | CUSIP: 3137F84A8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  10557389 | PA      | $10526508.90  | 0.29%             | 2030-11-25      | Floating      | 4.42%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 31396R3N5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     87318 | PA      | $87084.36     | 0.00%             | 2034-02-15      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| GreenState Auto Receivables Trust                                        | GreenState Auto Receivables Trust 2024-1                                      | CUSIP: 39573AAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2032415.30   | 0.06%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Chase Auto Credit Linked Notes                                           | Chase Auto Credit Linked Notes Series 2025-1                                  | CUSIP: 46591HCU2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1679829 | PA      | $1694004.39   | 0.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                                            | CUSIP: 31397HG28<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     38331 | PA      | $38039.07     | 0.00%             | 2036-07-15      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master Owner Trust                                 | Ford Credit Floorplan Master Owner Trust A                                    | CUSIP: 34528QHX5<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |  14000000 | PA      | $14044745.40  | 0.39%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                                   | Santander Drive Auto Receivables Trust 2024-5                                 | CUSIP: 802920AG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  19000000 | PA      | $19165403.55  | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Securitized Term Auto Receivables Trust                                  | Securitized Term Auto Receivables Trust                                       | CUSIP: 81378RAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |   2178462 | PA      | $2199783.33   | 0.06%             |  |  |  | Yes           |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                      | JPMorgan Chase & Co                                                           | CUSIP: 46647PCQ7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  12500000 | PA      | $12532915.25  | 0.34%             | 2027-09-22      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                                               | LAD Auto Receivables Trust 2024-2                                             | CUSIP: 505920AG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1700000 | PA      | $1759074.15   | 0.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| HCA INC                                                                  | HCA Inc                                                                       | CUSIP: 404119CP2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   4600000 | PA      | $4713935.88   | 0.13%             | 2028-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust                                           | Hyundai Auto Receivables Trust                                                | CUSIP: 44935XAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9500000 | PA      | $9707004.05   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Securitized Term Auto Receivables Trust                                  | Securitized Term Auto Receivables Trust                                       | CUSIP: 81378RAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |   1867254 | PA      | $1879704.53   | 0.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Securitized Term Auto Receivables Trust                                  | Securitized Term Auto Receivables Trust 2025-B                                | CUSIP: 81378WAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |   3623233 | PA      | $3649101.35   | 0.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                                                 | Marsh & McLennan Cos Inc                                                      | CUSIP: 571748BZ4<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   2940000 | PA      | $2957937.82   | 0.08%             | 2027-11-08      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| Federated Hermes Government Obligations Fund                             | Federated Hermes Government Obligations Fund                                  | CUSIP: 608919718<br>LEI: 254900VAJ9169N7JRF45 | Long             | STIV             | RF                | US        | 326756705 | NS      | $326756705.21 | 8.99%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                                           | Morgan Stanley                                                                | CUSIP: 61747YFN0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20087107.80  | 0.55%             | 2028-04-13      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| NATIONAL FUEL GAS CO                                                     | National Fuel Gas Co                                                          | CUSIP: 636180BS9<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |   6130000 | PA      | $6192754.53   | 0.17%             | 2026-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                                                     | M&T Bank Corp                                                                 | CUSIP: 55261FAU8<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   2665000 | PA      | $2708081.27   | 0.07%             | 2029-01-16      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN NA                                                     | Mercedes-Benz Finance North America LLC                                       | CUSIP: 58769JAY3<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |  13795000 | PA      | $13851624.61  | 0.38%             | 2027-11-15      | Floating      | 4.66%                 | Yes           |                  2 | On Loan: No      |
| Navient Student Loan Trust                                               | Navient Student Loan Trust                                                    | CUSIP: 63942TAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1352585 | PA      | $1366758.74   | 0.04%             |  |  |  | Yes           |                  2 | On Loan: No      |
| NextGear Floorplan Master Owner Trust                                    | NextGear Floorplan Master Owner Trust                                         | CUSIP: 65341KCG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11000000 | PA      | $11076177.20  | 0.30%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PenFed Auto Receivables Owner Trust                                      | PenFed Auto Receivables Owner Trust 2022-A                                    | CUSIP: 706874AF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1582000 | PA      | $1584630.71   | 0.04%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                                   | Santander Drive Auto Receivables Trust 2024-4                                 | CUSIP: 802919AF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  15000000 | PA      | $15304078.50  | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| NextGear Floorplan Master Owner Trust                                    | NextGear Floorplan Master Owner Trust                                         | CUSIP: 65345GAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4750000 | PA      | $4755245.19   | 0.13%             |  |  |  | Yes           |                  2 | On Loan: No      |
| NextGear Floorplan Master Owner Trust                                    | NextGear Floorplan Master Owner Trust                                         | CUSIP: 65346CAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  19000000 | PA      | $19043081.55  | 0.52%             |  |  |  | Yes           |                  2 | On Loan: No      |
| ORACLE CORP                                                              | Oracle Corp                                                                   | CUSIP: 68389XCX1<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14806752.75  | 0.41%             | 2028-08-03      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| PFS Financing Corp.                                                      | PFS Financing Corp                                                            | CUSIP: 69335PFM2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3027891.90   | 0.08%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PFS Financing Corp.                                                      | PFS Financing Corp                                                            | CUSIP: 69335PGB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4250000 | PA      | $4280464.85   | 0.12%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PNC BANK NA                                                              | PNC Bank NA                                                                   | CUSIP: 69353RFW3<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10012326.60  | 0.28%             | 2027-01-15      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| PenFed Auto Receivables Owner Trust                                      | PenFed Auto Receivables Owner Trust 2022-A                                    | CUSIP: 706874AE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1218746 | PA      | $1219107.23   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PenFed Auto Receivables Owner Trust                                      | PenFed Auto Receivables Owner Trust 2025-A                                    | CUSIP: 706916AG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1230000 | PA      | $1231125.39   | 0.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                                                   | Roper Technologies Inc                                                        | CUSIP: 776696AL0<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |   2380000 | PA      | $2391671.66   | 0.07%             | 2030-09-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                                   | Santander Drive Auto Receivables Trust 2022-6                                 | CUSIP: 802918AE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2670562 | PA      | $2676448.15   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Securitized Term Auto Receivables Trust                                  | Securitized Term Auto Receivables Trust                                       | CUSIP: 81378RAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |   2178462 | PA      | $2209255.06   | 0.06%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Verizon Master Trust                                                     | Verizon Master Trust                                                          | CUSIP: 92348KDU4<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |   2528000 | PA      | $2579050.94   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding LLC                                           | Wheels Fleet Lease Funding 1 LLC                                              | CUSIP: 96328GCM7<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3527655.08   | 0.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| STATE STREET CORP                                                        | State Street Corp                                                             | CUSIP: 857477CZ4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   2285000 | PA      | $2299409.12   | 0.06%             | 2028-04-24      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                                                   | Tesla Auto Lease Trust 2024-A                                                 | CUSIP: 88166VAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6850000 | PA      | $6896087.14   | 0.19%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                                                   | Tesla Auto Lease Trust 2023-B                                                 | CUSIP: 88167QAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $10019888.50  | 0.28%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Trillium Credit Card Trust II                                            | Trillium Credit Card Trust II                                                 | CUSIP: 89621ABP3<br>LEI: 549300P7QN1SDIOQVL28 | Long             | ABS-O            | CORP              | CA        |   3305000 | PA      | $3318425.08   | 0.09%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Trillium Credit Card Trust II                                            | Trillium Credit Card Trust II                                                 | CUSIP: 89621ACE7<br>LEI: 549300P7QN1SDIOQVL28 | Long             | ABS-O            | CORP              | US        |   3300000 | PA      | $3311301.35   | 0.09%             |  |  |  | Yes           |                  2 | On Loan: No      |
| TRUIST BANK                                                              | Truist Bank                                                                   | CUSIP: 89788JAG4<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10001083.80  | 0.28%             | 2028-07-24      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| Truist Bank Auto Credit-Linked Notes                                     | Truist Bank Auto Credit-Linked Notes Series 2025-1                            | CUSIP: 897926CC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4658157 | PA      | $4663419.74   | 0.13%             |  |  |  | Yes           |                  2 | On Loan: No      |
| US BANK NA CINCINNATI                                                    | US Bank NA/Cincinnati OH                                                      | CUSIP: 90331HPS6<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8081497.20   | 0.22%             | 2028-05-15      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                                  | WaMu Mortgage Pass-Through Certificates Series 2006-AR17 Trust                | CUSIP: 92925DAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150002 | PA      | $127260.00    | 0.00%             | 2046-12-25      | Floating      | 3.88%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                                  | WaMu Mortgage Pass-Through Certificates Series 2006-AR15 Trust                | CUSIP: 93363QAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    263725 | PA      | $244345.36    | 0.01%             | 2046-11-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                   | US 5YR NOTE (CBT) MAR26                                                       | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |     -1110 | NC      | $387847.32    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-24

**Name of Applicant:** Federated Hermes Total Return Series, Inc.

**Signature:** Stephen Van Meter

**Name of Signer:** Federated Hermes Total Return Series, Inc.

**Title:** Chief Compliance Officer