# EDGAR Filing Document

**Accession Number:** 0000751173
**File Stem:** 0000940400-26-021775
**Filing Date:** 2026-5
**Character Count:** 113993
**Document Hash:** 7187bd1786aaa858d5f07bb6f3cae67d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-021775.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000940400-26-021775

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MANNING & NAPIER FUND, INC.
- **CENTRAL INDEX KEY:** 0000751173

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04087
- **FILM NUMBER:** 261032167

**BUSINESS ADDRESS:**
- **STREET 1:** 290 WOODCLIFF DRIVE
- **CITY:** FAIRPORT
- **STATE:** NY
- **ZIP:** 14450
- **BUSINESS PHONE:** 585-325-6880

**MAIL ADDRESS:**
- **STREET 1:** 290 WOODCLIFF DRIVE
- **CITY:** FAIRPORT
- **STATE:** NY
- **ZIP:** 14450

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANNING & NAPIER FUND, INC /NY/
- **DATE OF NAME CHANGE:** 20060929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EXETER FUND INC /NY/
- **DATE OF NAME CHANGE:** 19980226

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANNING & NAPIER FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Credit Series (Series ID: S000063205)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000204839 | Class W      | MCDWX           |
| C000253169 | Class I      | MCDIX           |
| C000253170 | Class S      | MCDSX           |

## Nport-Ex

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;CREDIT SERIES | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **CORPORATE BONDS - 34.6%** |  |  |
| **Non-Convertible Corporate Bonds- 34.6%** | **Non-Convertible Corporate Bonds- 34.6%** | **Non-Convertible Corporate Bonds- 34.6%** |
| **Communication Services - 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Entertainment - 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;The Walt Disney Co., 6.65%, 11/15/2037 | 1970000 | $2216687 |
| **Consumer Discretionary - 3.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Diversified Consumer Services - 1.7%** | &nbsp;&nbsp;&nbsp;&nbsp;**Diversified Consumer Services - 1.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cornell Univ., 4.169%, 6/15/2030 | 4860000 | 4825302 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Hotels, Restaurants & Leisure - 0.7%** | &nbsp;&nbsp;&nbsp;&nbsp;**Hotels, Restaurants & Leisure - 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Airbnb, Inc., 4.65%, 3/16/2031 | 2125000 | 2121175 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Household Durables - 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;DR Horton, Inc., 4.85%, 10/15/2030 | 2380000 | 2397772 |
| **Total Consumer Discretionary** |  | 9344249 |
| **Consumer Staples - 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Beverages - 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Becle S.A.B. de C.V. (Mexico), 2.50%, 10/14/2031<sup>2</sup> | 2410000 | 2060692 |
| **Energy - 4.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels - 4.1%** | &nbsp;&nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels - 4.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cameron LNG LLC, 3.302%, 1/15/2035<sup>2</sup> | 2790000 | 2425093 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cenovus Energy, Inc. (Canada), 6.75%, 11/15/2039 | 3380000 | 3682974 |
| &nbsp;&nbsp;&nbsp;&nbsp;Energy Transfer LP, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 1/15/2031 | 2330000 | 2308805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 2/1/2042 | 3465000 | 3606421 |
| **Total Energy** |  | 12023293 |
| **Financials - 15.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Banks - 8.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp., (U.S. Secured Overnight Financing Rate + 1.320%), 2.687%, 4/22/2032<sup>3</sup> | 4015000 | 3641935 |
| &nbsp;&nbsp;&nbsp;&nbsp;Citigroup, Inc., (U.S. Secured Overnight Financing Rate + 1.171%), 4.503%, 9/11/2031<sup>3</sup> | 3130000 | 3092582 |
| &nbsp;&nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc., (5 yr. U.S. Treasury Yield Curve Rate T Note Constant Maturity + 1.450%), 5.299%, 1/29/2036<sup>3</sup> | 2410000 | 2389075 |
| &nbsp;&nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc., 2.55%, 2/4/2030 | 2590000 | 2399448 |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co., (3 mo. U.S. Secured Overnight Financing Rate + 3.790%), 4.493%, 3/24/2031<sup>3</sup> | 4770000 | 4745870 |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Private Bank NA, (U.S. Secured Overnight Financing Rate + 0.762%), 4.213%, 2/8/2030<sup>3</sup> | 3590000 | 3552679 |
| &nbsp;&nbsp;&nbsp;&nbsp;The PNC Financial Services Group, Inc., (U.S. Secured Overnight Financing Rate + 1.333%), 4.899%, 5/13/2031<sup>3</sup> | 3600000 | 3620882 |
| &nbsp;&nbsp;&nbsp;&nbsp;Truist Financial Corp., (U.S. Secured Overnight Financing Rate + 0.862%), 1.887%, 6/7/2029<sup>3</sup> | 1265000 | 1197255 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE | VALUE |
| **CORPORATE BONDS** (continued) |  |  |  |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |  |  |
| **Financials** (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Banks** (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Bancorp, (U.S. Secured Overnight Financing Rate + 1.230%), 4.653%, 2/1/2029<sup>3</sup> | 1070000 | $| 1074339 |
|  |  |  | 25714065 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Capital Markets - 2.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jefferies Financial Group, Inc., 6.20%, 4/14/2034 | 4560000 |  | 4646585 |
| &nbsp;&nbsp;&nbsp;&nbsp;The Depository Trust & Clearing Corp., (5 yr. U.S. Treasury Yield Curve Rate T Note Constant Maturity + 2.606%), 3.375%<sup>2,3,4</sup> | 1250000 |  | 1240625 |
|  |  |  | 5887210 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Consumer Finance - 1.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital One Financial Corp., (U.S. Secured Overnight Financing Rate + 2.860%), 6.377%, 6/8/2034<sup>3</sup> | 4200000 |  | 4425801 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Diversified Financial Services - 0.7%** | &nbsp;&nbsp;&nbsp;&nbsp;**Diversified Financial Services - 0.7%** | &nbsp;&nbsp;&nbsp;&nbsp;**Diversified Financial Services - 0.7%** | &nbsp;&nbsp;&nbsp;&nbsp;**Diversified Financial Services - 0.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Atlas Warehouse Lending Co. LP, 4.95%, 11/15/2030<sup>2</sup> | 2330000 |  | 2285231 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Financial Services - 1.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Apollo Global Management, Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 8/12/2035 | 2340000 |  | 2268197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 3/30/2036 | 2110000 |  | 2111449 |
|  |  |  | 4379646 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Insurance - 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SiriusPoint Ltd. (Sweden), 7.00%, 4/5/2029 | 2325000 |  | 2423739 |
| **Total Financials** |  |  | 45115692 |
| **Industrials - 1.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Construction Materials - 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Materials, Inc., 5.00%, 3/15/2036 | 2340000 |  | 2238454 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Trading Companies & Distributors - 0.8%** | &nbsp;&nbsp;&nbsp;&nbsp;**Trading Companies & Distributors - 0.8%** | &nbsp;&nbsp;&nbsp;&nbsp;**Trading Companies & Distributors - 0.8%** | &nbsp;&nbsp;&nbsp;&nbsp;**Trading Companies & Distributors - 0.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC - AerCap Global Aviation Trust (Ireland), 3.00%, 10/29/2028 | 2450000 |  | 2359248 |
| **Total Industrials** |  |  | 4597702 |
| **Information Technology - 0.8%** | **Information Technology - 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Software - 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Constellation Software, Inc. (Canada), 5.461%, 2/16/2034<sup>2</sup> | 2410000 |  | 2361415 |
| **Materials - 2.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Metals & Mining - 2.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corp. Nacional del Cobre de Chile (Chile), 5.529%, 1/30/2037<sup>2</sup> | 3550000 |  | 3476670 |

---

 **1**

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;CREDIT SERIES | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |  |  |
| **Materials** (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Metals & Mining** (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Newcastle Coal Infrastructure Group Pty Ltd. (Australia), 4.40%, 9/29/2027<sup>2</sup> | 2325012 | $| 2308920 |
| **Total Materials** |  |  | 5785590 |
| **Real Estate - 2.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Retail REITs - 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group LP, 2.65%, 2/1/2032 | 379000 |  | 337786 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Specialized REITs - 2.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Safehold GL Holdings LLC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85%, 1/15/2032 | 2300000 |  | 2055821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 4/1/2034 | 2150000 |  | 2261251 |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA Tower Trust, 6.599%, 1/15/2028<sup>2</sup> | 3370000 |  | 3426980 |
|  |  |  | 7744052 |
| **Total Real Estate** |  |  | 8081838 |
| **Utilities - 3.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Electric Utilities - 2.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alexander Funding Trust II, 7.467%, 7/31/2028<sup>2</sup> | 2290000 |  | 2410949 |
| &nbsp;&nbsp;&nbsp;&nbsp;Duke Energy Florida LLC, 6.40%, 6/15/2038 | 3720000 |  | 4054931 |
|  |  |  | 6465880 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 1.5%** | &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 1.5%** | &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 1.5%** | &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 1.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Palomino Funding Trust I, 7.233%, 5/17/2028<sup>2</sup> | 4245000 |  | 4439259 |
| **Total Utilities** |  |  | 10905139 |
| **TOTAL CORPORATE BONDS** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $102,139,966) |  |  | **102492297** |
| **ASSET-BACKED SECURITIES - 21.0%** | **ASSET-BACKED SECURITIES - 21.0%** | **ASSET-BACKED SECURITIES - 21.0%** | **ASSET-BACKED SECURITIES - 21.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;ALLO Issuer LLC, Series 2023-1A, Class A2, 6.20%, 6/20/2053<sup>2</sup> | 1600000 |  | 1611238 |
| &nbsp;&nbsp;&nbsp;&nbsp;Centersquare Issuer LLC, Series 2024-1A, Class A2, 5.20%, 10/26/2054<sup>2</sup>  |  |  |  |
| &nbsp;&nbsp;&nbsp;CF Hippolyta Issuer LLC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1, Class B1, 2.28%, 7/15/2060<sup>2</sup> | 2113712 |  | 1299931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A, Class B1, 1.98%, 3/15/2061<sup>2</sup> | 895325 |  | 545416 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cloud Capital Holdco LP, Series 2024-1A, Class A2, 5.781%, 11/22/2049<sup>2</sup> | 2000000 |  | 1995699 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cogent Ipv4 LLC, Series 2024-1A, Class A2, 7.924%, 5/25/2054<sup>2</sup> | 990000 |  | 1019905 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commonbond Student Loan Trust, Series 2020-AGS, Class A, 1.98%, 8/25/2050<sup>2</sup> | 384944 |  | 345757 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **ASSET-BACKED SECURITIES** (continued) | **ASSET-BACKED SECURITIES** (continued) | **ASSET-BACKED SECURITIES** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;Compass Datacenters Issuer II LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A, Class A1, 5.022%, 8/25/2049<sup>2</sup> | 1500000 | $1495082 |
| &nbsp;&nbsp;&nbsp;&nbsp;DataBank Issuer, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2A, Class A2, 2.40%, 10/25/2051<sup>2</sup> | 900000 | 885046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2, 5.116%, 2/25/2053<sup>2</sup> | 1350000 | 1339105 |
| &nbsp;&nbsp;&nbsp;&nbsp;ECMC Group Student Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A, (U.S. Secured Overnight Financing Rate 30 Day Average + 1.150%), 4.812%, 11/27/2073<sup>2,5</sup> | 1028197 | 1035448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class A, (U.S. Secured Overnight Financing Rate 30 Day Average + 1.050%), 4.712%, 11/25/2074<sup>2,5</sup> | 1792139 | 1796787 |
| &nbsp;&nbsp;&nbsp;&nbsp;FIP Master Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A1, 4.88%, 10/15/2054<sup>2</sup> | 1992130 | 1974767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2026-1A, Class A1, 4.90%, 3/15/2056<sup>2</sup> | 3100000 | 3047482 |
| &nbsp;&nbsp;&nbsp;&nbsp;GGAM Master Trust International Ltd., Series 2025-1A, Class A, (Cayman Islands), 5.923%, 9/30/2060<sup>2</sup> | 1769105 | 1762732 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodgreen Trust, Series 2020-1A, Class A, 2.63%, 4/15/2055<sup>2</sup> | 564223 | 478018 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hageman Capital Issuer Trust, Series 2025-1, Class A, 6.40%, 8/9/2056<sup>2</sup> | 1594340 | 1556574 |
| &nbsp;&nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust, Series 2026-1, Class A4, 3.86%, 5/21/2032 | 1270000 | 1256655 |
| &nbsp;&nbsp;&nbsp;&nbsp;Horizon Aircraft Finance IV Ltd., Series 2024-1, Class A, (Cayman Islands), 5.375%, 9/15/2049<sup>2</sup> | 2405000 | 2382642 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hotwire Funding LLC, Series 2023-1A, Class A2, 5.687%, 5/20/2053<sup>2</sup> | 2400000 | 2415161 |
| &nbsp;&nbsp;&nbsp;&nbsp;HTS Fund II LLC, Series 2025-1, Class A, 5.351%, 6/23/2045<sup>2</sup> | 1350000 | 1348811 |
| &nbsp;&nbsp;&nbsp;&nbsp;KREF Ltd., Series 2021-FL2, Class AS, (1 mo. U.S. Secured Overnight Financing Rate + 1.414%), 5.093%, 2/15/2039<sup>2,5</sup> | 1500000 | 1492783 |
| &nbsp;&nbsp;&nbsp;&nbsp;LEDN Issuer Trust, Series 2026-1A, Class A, 6.748%, 2/25/2041 (Acquired 02/18/2026, cost $3,749,947)<sup>6</sup> | 3750000 | 3751849 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lyra Music Assets Delaware LP, <br> Series 2025-1A, Class A2, 5.604%, 9/20/2065<sup>2</sup> | 1296629 | 1306670 |
| &nbsp;&nbsp;&nbsp;&nbsp;Navient Education Loan Trust, <br> Series 2025-A, Class A, 5.02%, 7/15/2055<sup>2</sup> | 1220905 | 1220034 |
| &nbsp;&nbsp;&nbsp;&nbsp;Navient Private Education Refi Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-DA, Class A, 1.69%, 5/15/2069<sup>2</sup> | 257571 | 244364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-A, Class A, 0.84%, 5/15/2069<sup>2</sup> | 202269 | 185301 |

---

 **2**

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;CREDIT SERIES | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **ASSET-BACKED SECURITIES** (continued) | **ASSET-BACKED SECURITIES** (continued) | **ASSET-BACKED SECURITIES** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;Nelnet Student Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-2, Class A7, (U.S. Secured Overnight Financing Rate 90 Day Average + 0.842%), 4.729%, 1/26/2037<sup>2,5</sup> | 1573330 | $1542753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-3A, Class A, (U.S. Secured Overnight Financing Rate 30 Day Average + 0.814%), 4.476%, 3/26/2040<sup>2,5</sup> | 358233 | 355073 |
| &nbsp;&nbsp;&nbsp;&nbsp;Oak Street Investment Grade Net Lease Fund, Series 2020-1A, Class A1, 1.85%, 11/20/2050<sup>2</sup> | 1539466 | 1401358 |
| &nbsp;&nbsp;&nbsp;&nbsp;Oxford Finance Credit Fund III LP, Series 2025-A, Class A2, 5.878%, 8/14/2034<sup>2</sup> | 1900000 | 1887645 |
| &nbsp;&nbsp;&nbsp;&nbsp;Oxford Finance Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1A, Class A2, 3.602%, 2/15/2030<sup>2</sup> | 1290352 | 1256183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2, 6.716%, 2/15/2031<sup>2</sup> | 1532333 | 1543189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2, 5.413%, 2/15/2035<sup>2</sup> | 1300000 | 1296629 |
| &nbsp;&nbsp;&nbsp;&nbsp;PEAR LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1, Class A, 2.60%, 1/15/2034<sup>2</sup> | 21626 | 21604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1, Class A, 7.42%, 7/15/2035<sup>2</sup> | 1014831 | 1035086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A, 6.95%, 2/15/2036<sup>2</sup> | 508548 | 512395 |
| &nbsp;&nbsp;&nbsp;&nbsp;PHEAA Student Loan Trust, Series 2016-1A, Class A, (U.S. Secured Overnight Financing Rate 30 Day Average + 1.264%), 4.926%, 9/25/2065<sup>2,5</sup> | 554651 | 558063 |
| &nbsp;&nbsp;&nbsp;&nbsp;Slam Ltd., Series 2021-1A, Class A, (Cayman Islands), 2.434%, 6/15/2046<sup>2</sup> | 1330000 | 1260821 |
| &nbsp;&nbsp;&nbsp;&nbsp;SLC Student Loan Trust, Series 2005-3, Class A4, (U.S. Secured Overnight Financing Rate 90 Day Average + 0.412%), 4.103%, 12/15/2039<sup>5</sup> | 2571144 | 2506326 |
| &nbsp;&nbsp;&nbsp;&nbsp;SLM Student Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-2, Class A2, (U.S. Secured Overnight Financing Rate 30 Day Average + 1.314%), 4.976%, 10/25/2034<sup>5</sup> | 279483 | 280859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-6, Class A3, (U.S. Secured Overnight Financing Rate 30 Day Average + 0.764%), 4.426%, 6/26/2055<sup>5</sup> | 862681 | 852310 |
| &nbsp;&nbsp;&nbsp;&nbsp;SMB Private Education Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-B, Class A2A, 2.82%, 10/15/2035<sup>2</sup> | 2736 | 2733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-B, Class A2B, (1 mo. U.S. Secured Overnight Financing Rate + 0.864%), 4.537%, 10/15/2035<sup>2,5</sup> | 12390 | 12387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-E, Class A1A, 5.09%, 10/16/2056<sup>2</sup> | 775014 | 777558 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tricon American Homes, Series 2020-SFR1, Class A, 1.499%, 7/17/2038<sup>2</sup> | 1383961 | 1371250 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **ASSET-BACKED SECURITIES** (continued) | **ASSET-BACKED SECURITIES** (continued) | **ASSET-BACKED SECURITIES** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;VB-S1 Issuer LLC, Series 2026-1A, Class C2, 4.693%, 3/15/2056<sup>2</sup> | 2940000 | $2888682 |
| &nbsp;&nbsp;&nbsp;&nbsp;VelocitySBA Loan Trust, Series 2026-1, Class A, (U.S. Secured Overnight |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financing Rate 30 Day Average + 2.500%), 6.173%, 1/20/2051 (Acquired 03/17/2026, cost $1,183,906)<sup>5,6</sup> | 1200000 | 1185000 |
| **TOTAL ASSET-BACKED SECURITIES** | **TOTAL ASSET-BACKED SECURITIES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $63,649,282) |  | **62279549** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.8%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Agate Bay Mortgage Trust, Series 2016-2, Class A3, 3.50%, 3/25/2046<sup>2,7</sup> | 719796 | 663376 |
| &nbsp;&nbsp;&nbsp;&nbsp;Brean Asset Backed Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-RM2, Class A, 1.75%, 10/25/2061<sup>2,7</sup> | 703585 | 693068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RM13, Class A1, 4.25%, 10/25/2065<sup>2</sup> | 1997643 | 1934195 |
| &nbsp;&nbsp;&nbsp;&nbsp;BX Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-VLT4, Class A, (1 mo. U.S. Secured Overnight Financing Rate + 1.491%), 5.164%, 6/15/2041<sup>2,5</sup> | 1900000 | 1888185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2026-CSMO, Class A, (1 mo. U.S. Secured Overnight Financing Rate + 1.400%), 5.073%, 2/15/2043<sup>2,5</sup> | 2360000 | 2357567 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit Suisse Mortgage Capital Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-7, Class A6, 3.50%, 8/25/2043<sup>2,7</sup> | 188180 | 175148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-J1, Class A2, 3.50%, 2/25/2048<sup>2,7</sup> | 3210300 | 2908312 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae REMICS, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-48, Class DC, 2.50%, 7/25/2050 | 3175930 | 2763041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-69, Class WJ, 1.50%, 10/25/2050 | 526401 | 459534 |
| &nbsp;&nbsp;&nbsp;&nbsp;Finance of America Structured Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-S6, Class A1, 3.00%, 7/25/2061<sup>2</sup> | 1303748 | 1322807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-S1, Class A1, 3.50%, 2/25/2075<sup>2</sup> | 1513546 | 1465433 |
| &nbsp;&nbsp;&nbsp;&nbsp;Flagstar Mortgage Trust, Series 2021- 8INV, Class A3, 2.50%, 9/25/2051<sup>2,7</sup> . | 684003 | 566883 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fontainebleau Miami Beach Mortgage Trust, Series 2024-FBLU, Class A, (1 mo. U.S. Secured Overnight Financing Rate + 1.450%), 5.123%, 12/15/2039<sup>2,5</sup> | 2800000 | 2796799 |
| &nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass- Through Certificates, Series K106, Class X1 (IO), 1.314%, 1/25/2030<sup>7</sup> | 14785435 | 619441 |
| &nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac REMICS, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 5189, Class CP, 2.50%, 6/25/2049 | 3413848 | 3037991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 5501, Class JL, 3.50%, 6/25/2048 | 1850000 | 1504994 |

---

 **3**

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | |
|:---|:---|:---|
| CREDIT SERIES | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) | **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) | **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Corp. Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-PJ3, Class A14, 3.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10/25/2050<sup>2,7</sup> | 200288 | $173661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV1, Class A6, 2.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12/25/2051<sup>2,7</sup> | 657701 | 588768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PJ6, Class A8, 2.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11/25/2051<sup>2,7</sup> | 440915 | 396582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PJ9, Class A8, 2.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2/26/2052<sup>2,7</sup> | 510022 | 458869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-PJ3, Class A6, 3.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8/25/2052<sup>2,7</sup> | 1516782 | 1313759 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hawaii Hotel Trust, Series 2025- |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MAUI, Class A, (1 mo. U.S. Secured |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overnight Financing Rate + 1.393%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.065%, 3/15/2042<sup>2,5</sup> | 1640000 | 1635535 |
| &nbsp;&nbsp;&nbsp;&nbsp;Imperial Fund Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.595%, 11/25/2056<sup>2,7</sup> | 596333 | 513113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-NQM2, Class A1, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.638%, 3/25/2067<sup>2,8</sup> | 1052620 | 1012895 |
| &nbsp;&nbsp;&nbsp;&nbsp;J.P. Morgan Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-3, Class 2A2, 2.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10/25/2046<sup>2,7</sup> | 359196 | 336974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV3, Class A3, 3.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5/25/2050<sup>2,7</sup> | 470336 | 425285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV3, Class A3A, 3.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5/25/2050<sup>2,7</sup> | 353878 | 307117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4, Class A3B, 2.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8/25/2051<sup>2,7</sup> | 2205902 | 1731313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-INV3, Class A3B, 3.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9/25/2052<sup>2,7</sup> | 1462742 | 1267099 |
| &nbsp;&nbsp;&nbsp;&nbsp;JP Morgan Seasoned Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A3, 4.337%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1/25/2063<sup>2,7</sup> | 1528019 | 1466077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class A3, 3.684%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1/25/2063<sup>2,7</sup> | 1066175 | 957407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class A4, 3.684%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1/25/2063<sup>2,7</sup> | 2375503 | 2221725 |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Wealth Management, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-ATR1, Class A3, 3.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2/25/2050<sup>2,7</sup> | 1747433 | 1514872 |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust, Series |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2020-CNP, Class A, 2.428%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4/5/2042<sup>2,7</sup> | 1000000 | 884939 |
| &nbsp;&nbsp;&nbsp;&nbsp;NYMT Loan Trust, Series 2025-INV1, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A1, 5.402%, 4/25/2060<sup>2,8</sup> | 1658956 | 1659797 |
| &nbsp;&nbsp;&nbsp;&nbsp;OBX Trust, Series 2024-NQM1, Class |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A1, 5.928%, 11/25/2063<sup>2,8</sup> | 1572408 | 1576808 |
| &nbsp;&nbsp;&nbsp;&nbsp;Oceanview Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1, Class A1A, 1.733%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5/28/2050<sup>2,7</sup> | 256581 | 238563 |
| &nbsp;&nbsp;&nbsp;&nbsp;PCG LLC, Series 2023-1, (1 mo. U.S. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Secured Overnight Financing Rate + |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%), 9.679%, 7/25/2029 (Acquired |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;07/24/2023, cost $178,794)<sup>5,6</sup> | 178792 | 178778 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provident Funding Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2, Class A2A, 2.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4/25/2051<sup>2,7</sup> | 556276 | $484340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV1, Class A1, 2.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8/25/2051<sup>2,7</sup> | 1227083 | 1013851 |
| &nbsp;&nbsp;&nbsp;&nbsp;RCKT Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-6, Class A1, 2.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12/25/2051<sup>2,7</sup> | 712992 | 591652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-6, Class A5, 2.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12/25/2051<sup>2,7</sup> | 750777 | 671565 |
| &nbsp;&nbsp;&nbsp;&nbsp;RUN Trust, Series 2022-NQM1, Class |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A1, 5.00%, 3/25/2067<sup>2</sup> | 706233 | 703068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-5, Class A1, 2.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5/25/2043<sup>2,7</sup> | 366835 | 328260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-9, Class A1, 3.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7/25/2043<sup>2,7</sup> | 3095690 | 2896093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-3, Class A19, 3.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4/25/2047<sup>2,7</sup> | 1171039 | 1061521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2, Class A4, 4.996%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3/25/2053<sup>2,7</sup> | 2783363 | 2786089 |
| &nbsp;&nbsp;&nbsp;&nbsp;SWCH Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-DATA, Class A, (1 mo. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Secured Overnight Financing |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rate + 1.443%), 5.115%, 2/15/2042<sup>2,5</sup> | 1500000 | 1480095 |
| &nbsp;&nbsp;&nbsp;&nbsp;Velocity Commercial Capital Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2026-1, Class M2, 5.89%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2/25/2056<sup>2,7</sup> | 1989790 | 1961588 |
| &nbsp;&nbsp;&nbsp;&nbsp;Verus Securitization Trust, Series 2024- |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R1, Class A2, 5.47%, 9/25/2069<sup>2,8</sup> | 2265048 | 2269208 |
| &nbsp;&nbsp;&nbsp;&nbsp;WBHT Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-WBM, Class A, (1 mo. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Secured Overnight Financing |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rate + 1.742%), 5.415%, 6/15/2042<sup>2,5</sup> | 1360000 | 1359152 |
| &nbsp;&nbsp;&nbsp;&nbsp;WinWater Mortgage Loan Trust, Series |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2015-3, Class A1, 3.50%, 3/20/2045<sup>2,7</sup> | 945880 | 884720 |
| **TOTAL COMMERCIAL MORTGAGE-** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**BACKED SECURITIES** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $66,581,702) |  | **64507912** |
| **FOREIGN GOVERNMENT BONDS - 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Funding Luxco S.A.R.L (Mexico), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 8/17/2030<sup>2</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $2,858,581) | 2865000 | **2875858** |
| **MUNICIPAL BONDS - 2.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Impt., G.O. Bond, 4.91%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5/1/2029 | 1530000 | 1558411 |
| &nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Government of Nashville & |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Davidson County, Public Impt., G.O. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bond, 5.707%, 7/1/2034 | 1990000 | 2061411 |

---

**4**

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | |
|:---|:---|:---|
| CREDIT SERIES | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **MUNICIPAL BONDS (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Oregon Local Governments, Various |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purposes Impt., G.O. Bond, 6.095%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6/1/2028 | 2143521 | $2192384 |
| **TOTAL MUNICIPAL BONDS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $5,831,353) |  | **5812206** |
| **U.S. GOVERNMENT AGENCIES - 14.6%** |  |  |
| **Mortgage-Backed Securities - 14.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA4851, UMBS, 5.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11/1/2042 | 2806162 | 2830857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FS9332, UMBS, 3.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3/1/2050 | 1853512 | 1672328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FS4253, UMBS, 3.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3/1/2050 | 2762719 | 2569541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FM6890, UMBS, 3.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6/1/2050 | 1504293 | 1348316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #CA6316, UMBS, 3.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7/1/2050 | 1277390 | 1127606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FS1807, UMBS, 3.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7/1/2051 | 3228219 | 2999626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FS1838, UMBS, 3.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12/1/2051 | 3534596 | 3146006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #BV5383, UMBS, 3.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4/1/2052 | 2050553 | 1823050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA4737, UMBS, 5.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8/1/2052 | 2994266 | 2969242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA4807, UMBS, 5.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11/1/2052 | 1877541 | 1904797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #CB6326, UMBS, 5.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5/1/2053 | 2120853 | 2140924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FS6206, UMBS, 5.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10/1/2053 | 3423096 | 3484202 |
| &nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #SC0393, UMBS, 5.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6/1/2043 | 2295121 | 2305160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #SD8230, UMBS, 4.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6/1/2052 | 3863972 | 3745554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #SD1360, UMBS, 5.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7/1/2052 | 2723542 | 2762163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #QE9161, UMBS, 4.50%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9/1/2052 | 3175270 | 3077072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #RJ0062, UMBS, 5.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10/1/2053 | 3444993 | 3426117 |
| **TOTAL U.S. GOVERNMENT AGENCIES** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $43,706,309) |  | **43332561** |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **SHORT-TERM INVESTMENT - 3.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dreyfus Government Cash Management, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares, 3.53%<sup>9</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $11,533,208) | 11533208 | $**11533208** |
| **TOTAL INVESTMENTS - 98.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $296,300,401) |  | **292833591** |
| **OTHER ASSETS, LESS LIABILITIES -** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**1.1%** |  | **3283754** |
| **NET ASSETS - 100%** |  | $**296117345** |

---

**5**

**Investment Portfolio - March 31, 2026**

(unaudited)

G.O. Bond - General Obligation Bond

Impt. - Improvement

IO - Interest only

REIT - Real Estate Investment Trust

REMICS - Real Estate Mortgage Investment Conduits

UMBS - Uniform Mortgage-Backed Securities

<sup>1</sup>Amount is stated in USD unless otherwise noted.

<sup>2</sup>Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act") and determined to be liquid under the Fund's Liquidity Risk Management Program. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at March 31, 2026 was $137,702,375, which represented 46.5% of the Series' Net Assets.

<sup>3</sup>Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of March 31, 2026. <br> <sup>4</sup>Security is perpetual in nature and has no stated maturity date.

<sup>5</sup>Floating rate security. Rate shown is the rate in effect as of March 31, 2026.

<sup>6</sup>Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act") and determined to be illiquid under the Fund's Liquidity Risk Management Program. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of such securities at March 31, 2026 was $5,115,627, or 1.7% of the Series' Net Assets.

<sup>7</sup>Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of March 31, 2026.

<sup>8</sup>Represents a step-up bond that pays initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown reflects the current coupon as of March 31, 2026.

<sup>9</sup>Rate shown is the current yield as of March 31, 2026.

The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor's, a division of S&P Global Inc. (S&P), and is licensed for use by Manning & Napier when referencing GICS sectors. Neither MSCI, S&P, nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification, nor shall any such party have any liability therefrom.

**Fair Value Information:**

Various inputs are used in determining the value of the Series' assets or liabilities carried at fair value. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical assets and liabilities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Level 3 includes significant unobservable inputs (including the Series' own assumptions in determining the fair value of investments). A financial instrument's level within the fair value hierarchy is based on the lowest level of any input both individually and in aggregate that is significant to the fair value measurement. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

**6**

**Investment Portfolio - March 31, 2026**

(unaudited)

The following is a summary of the valuation levels used for major security types as of March 31, 2026 in valuing the Series' assets or liabilities carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| DESCRIPTION | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
| Assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Debt securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury and other U.S. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government agencies | $43332561 | $— | $43332561 | $— |
| &nbsp;&nbsp;&nbsp; States and political subdivisions (municipals) | 5812206 |  | 5812206 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate debt: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication Services | 2216687 |  | 2216687 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Discretionary | 9344249 |  | 9344249 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Staples | 2060692 |  | 2060692 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 12023293 |  | 12023293 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | 45115692 |  | 45115692 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 4597702 |  | 4597702 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information Technology | 2361415 |  | 2361415 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 5785590 |  | 5785590 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real Estate | 8081838 |  | 8081838 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | 10905139 |  | 10905139 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | 62279549 |  | 62279549 |  |
| &nbsp;&nbsp;&nbsp; Commercial mortgage-backed securities | 64507912 |  | 64507912 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign government bonds | 2875858 |  | 2875858 |  |
| &nbsp;&nbsp;&nbsp;Short-Term Investment | 11533208 | 11533208 |  |  |
| Total assets | $292833591 | $11533208 | $281300383 | $— |

---

There were no Level 3 securities held by the Series as of December 31, 2025 or March 31, 2026.

The Investment Portfolio should be read in conjunction with the financial statements and notes to financial statements, which are included in the Series' audited annual report or unaudited semi-annual report. These reports include additional information about the Series' security valuation policies and about certain security types invested in by the Series.

**7**

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Manning & Napier Fund, Inc.

- **b. Investment Company Act file number:** 811-04087

- **c. CIK number of Registrant:** 0000751173

- **d. LEI of Registrant:** 549300B31SDCBSJSN672

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

  - **Street Address 1:** 290 Woodcliff Drive

  - **City:** Fairport

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 14450

  - **Telephone number:** 585-325-6880

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

- **a. Name of Series:** Credit Series

- **b. EDGAR series identifier (if any):** S000063205

- **c. LEI of Series:** 5493007VV3K8SJRA1087

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

- **a. Date of fiscal year-end:** 2026-12-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $296342974.70

**Total Liabilities:** $115555.32

**Net Assets:** $296227419.38

**Cash Not Reported:** $593932.95

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 38.11849000 | **1-Year:** 12387.11967000 | **5-Year:** 79031.52534000 | **10-Year:** 36976.32834000 | **30-Year:** 334.96871000

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

- **3-Month:** 102.88532000 | **1-Year:** 1130.92078000 | **5-Year:** 4739.58019000 | **10-Year:** 4814.99471000 | **30-Year:** 155.78183000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253170 | 0.37%                | 1.08%                | -1.25%               |
| Class ID C000204839 | 0.40%                | 1.12%                | -1.20%               |
| Class ID C000253169 | 0.38%                | 1.09%                | -1.23%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $433802.48               | $-388593.63                                |
| Month 2  | $232883.00               | $1974003.82                                |
| Month 3  | $169790.88               | $-4923662.93                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| IMPERIAL FUND MTG                                                                   | IMPRL 2022-NQM2 A1                                  | CUSIP: 45276PAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1052620 | PA      | $1012895.26   | 0.34%             | 2067-03-25      | Variable      | 3.64%                 | No            |                  2 | On Loan: No      |
| PEAR THERAPEUTICS INC                                                               | PEAR 2021-1 A                                       | CUSIP: 70472TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     21626 | PA      | $21603.75     | 0.01%             | 2034-01-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST 2021-RM2                                        | BABS 2021-RM2 A                                     | CUSIP: 10638MAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    703585 | PA      | $693067.89    | 0.23%             | 2061-10-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| FONTAINEBLEAU MIAMI BEACH TRUST 2024-FBLU                                           | FMBT 2024-FBLU A                                    | CUSIP: 34461WAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2800000 | PA      | $2796798.77   | 0.94%             | 2039-12-15      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| PEAR 2023-1 LLC                                                                     | PEAR 2023-1 A                                       | CUSIP: 70473AAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1014831 | PA      | $1035086.19   | 0.35%             | 2035-07-16      | Fixed         | 7.42%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2018-BILT                                                                  | BX 2026-CSMO A                                      | CUSIP: 12433LAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2360000 | PA      | $2357567.05   | 0.80%             | 2031-02-15      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                  | ET 4.55 01/15/31                                    | CUSIP: 29273VBJ8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2330000 | PA      | $2308805.03   | 0.78%             | 2031-01-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FR SD8230                                           | CUSIP: 3132DWEB5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3863972 | PA      | $3745553.64   | 1.26%             | 2052-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cogent IPV4 LLC                                                                     | CGNT 2024-1A A2                                     | CUSIP: 19240JAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    990000 | PA      | $1019904.62   | 0.34%             | 2054-05-25      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| Atlas Warehouse Lending Co. LP                                                      | ATWALD 4.95 11/15/30                                | CUSIP: 049463AG7<br>LEI: 25490068J12A1HV7YM70 | Long             | DBT              | CORP              | US        |   2330000 | PA      | $2285230.65   | 0.77%             | 2030-11-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                      | MS V4.213 02/08/30 .                                | CUSIP: 61776NU43<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   3590000 | PA      | $3552678.82   | 1.20%             | 2030-02-08      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| SBA Tower Trust                                                                     | SBATOW 6.599 01/15/28 144A                          | CUSIP: 78403DAZ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3370000 | PA      | $3426979.96   | 1.16%             | 2028-01-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Cenovus Energy Inc                                                                  | CVECN 6.75 11/15/39                                 | CUSIP: 15135UAF6<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |   3380000 | PA      | $3682973.70   | 1.24%             | 2039-11-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OAK STREET INVESTMENT GRADE NET LEASE FUND SERIES 2020-1 LLC                        | OAKIG 2020-1A A1                                    | CUSIP: 67181DAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1539466 | PA      | $1401357.58   | 0.47%             | 2050-11-20      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN FS9332                                           | CUSIP: 3140XRLN3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1853512 | PA      | $1672328.22   | 0.56%             | 2050-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Eagle Materials Inc.                                                                | EXP 5 03/15/36                                      | CUSIP: 26969PAC2<br>LEI: 529900KRXRGXL61SG039 | Long             | DBT              | CORP              | US        |   2340000 | PA      | $2238453.51   | 0.76%             | 2036-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PCG 2023-1 LLC                                                                      | PCG 2023-1 NOTE                                     | CUSIP: 70461JAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    178792 | PA      | $178778.20    | 0.06%             | 2029-07-25      | Floating      | 9.68%                 | No            |                  2 | On Loan: No      |
| OXFORD FINANCE FUNDING TRUST 2022-1                                                 | OXFIN 2022-1A A2                                    | CUSIP: 69145BAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1290352 | PA      | $1256183.13   | 0.42%             | 2030-02-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| NAVIENT EDUCATION LOAN TRUST 2025-A                                                 | NAVEL 2025-A A                                      | CUSIP: 63943EAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1220905 | PA      | $1220033.85   | 0.41%             | 2055-07-15      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| WinWater Mortgage Loan Trust 2015-3                                                 | WIN 2015-3 A1                                       | CUSIP: 97651JAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    945880 | PA      | $884720.20    | 0.30%             | 2045-03-20      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| DATABANK ISSUER LLC                                                                 | COLO 2021-2A A2                                     | CUSIP: 23802WAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | PA      | $885046.27    | 0.30%             | 2051-10-25      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Jefferies Financial Group Inc                                                       | JEF 6.2 04/14/34                                    | CUSIP: 47233WEJ4<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   4560000 | PA      | $4646584.93   | 1.57%             | 2034-04-14      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Cornell University                                                                  | CORNLU 4.169 06/15/30 2025                          | CUSIP: 219207AD9<br>LEI: 549300ZZIJPNT0RZWP17 | Long             | DBT              | CORP              | US        |   4860000 | PA      | $4825302.13   | 1.63%             | 2030-06-15      | Fixed         | 4.17%                 | No            |                  2 | On Loan: No      |
| NYMT LOAN TRUST 2025-INV1                                                           | NYMT 2025-INV1 A1                                   | CUSIP: 67120YAC3<br>LEI: 254900KJ201MTW2K6G74 | Long             | ABS-O            | CORP              | US        |   1658956 | PA      | $1659796.62   | 0.56%             | 2060-04-25      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| RCKT MORTGAGE TRUST 2021-6                                                          | RCKT 2021-6 A1                                      | CUSIP: 74939KAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    712992 | PA      | $591652.19    | 0.20%             | 2051-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPM V4.493 03/24/31                                 | CUSIP: 46647PBJ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   4770000 | PA      | $4745869.92   | 1.60%             | 2031-03-24      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust 2020-Pj3                                        | GSMBS 2020-PJ3 A14                                  | CUSIP: 36258WAS1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200288 | PA      | $173661.12    | 0.06%             | 2050-10-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVERNMENT OF NASHVILLE & DAVIDSON INDUSTRIAL DEVELOPMENT BOARD (TN)   | TN MET 5.71 07/01/2034                              | CUSIP: 592112DR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1990000 | PA      | $2061410.71   | 0.70%             | 2034-07-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN FS1838                                           | CUSIP: 3140XHBG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3534596 | PA      | $3146006.11   | 1.06%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Csmc 2018-J1 Trust                                                                  | CSMC 2018-J1 A2                                     | CUSIP: 12653TAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3210300 | PA      | $2908311.63   | 0.98%             | 2048-02-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| PROVIDENT FUNDING MORTGAGE TRUST 2021-INV1                                          | PFMT 2021-INV1 A1                                   | CUSIP: 74387VAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1227083 | PA      | $1013850.40   | 0.34%             | 2051-08-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Goodgreen 2020-1                                                                    | GOODG 2020-1A A                                     | CUSIP: 38217TAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    564223 | PA      | $478018.25    | 0.16%             | 2055-04-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V2.687 04/22/32                                 | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4015000 | PA      | $3641934.49   | 1.23%             | 2032-04-22      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| CENTERSQUARE ISSUER LLC                                                             | CNSQ 2024-1A A2                                     | CUSIP: 15201EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1938387.91   | 0.65%             | 2054-10-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY CAPITAL I TRUST 2020-CNP                                             | MSC 2020-CNP A                                      | CUSIP: 61770YAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $884938.84    | 0.30%             | 2042-04-05      | Variable      | 2.43%                 | No            |                  2 | On Loan: No      |
| Eagle Funding Luxco S.a.r.l.                                                        | MEXPCP 5.5 08/17/30 144A                            | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | CORP              | LU        |   2865000 | PA      | $2875858.32   | 0.97%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                                     | FHR 5189 CP                                         | CUSIP: 3137H5U88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   3413848 | PA      | $3037990.65   | 1.03%             | 2049-06-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNR 2021-69 WJ                                      | CUSIP: 3136BJMZ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    526401 | PA      | $459534.08    | 0.16%             | 2050-10-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                                           | NSLT 2012-3A A                                      | CUSIP: 64032XAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    358233 | PA      | $355072.86    | 0.12%             | 2040-03-26      | Floating      | 4.48%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FN MA4737                                           | CUSIP: 31418EHP8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2994266 | PA      | $2969241.81   | 1.00%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE-BACKED SECURITIES TRUST 2021-PJ6                                        | GSMBS 2021-PJ6 A8                                   | CUSIP: 36262LAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    440915 | PA      | $396582.37    | 0.13%             | 2051-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2019-INV3                                                  | JPMMT 2019-INV3 A3A                                 | CUSIP: 46591LAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    353878 | PA      | $307117.43    | 0.10%             | 2050-05-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| ECMC GROUP STUDENT LOAN TRUST 2024-1                                                | ECMC 2024-1A A                                      | CUSIP: 26828PAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1028197 | PA      | $1035447.74   | 0.35%             | 2073-11-27      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| D.R. Horton, Inc.                                                                   | DHI 4.85 10/15/30                                   | CUSIP: 23331ABT5<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | DBT              | CORP              | US        |   2380000 | PA      | $2397772.52   | 0.81%             | 2030-10-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group Inc                                                        | CFG V5.299 01/29/36                                 | CUSIP: 174610BK0<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   2410000 | PA      | $2389074.82   | 0.81%             | 2036-01-29      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR QE9161                                           | CUSIP: 3133BKFA2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3175270 | PA      | $3077072.50   | 1.04%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Hageman Capital 2025 Issuer Tr                                                      | Hageman Capital 2025 Issuer Trust                   | CUSIP: 405033AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1594340 | PA      | $1556574.16   | 0.53%             | 2056-08-09      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| COMMONBOND STUDENT LOAN TRUST 2020-A-GS                                             | CBSLT 2020-AGS A                                    | CUSIP: 20267WAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    384944 | PA      | $345757.29    | 0.12%             | 2050-08-25      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FHMS K106 X1                                        | CUSIP: 3137FRUV1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  14785435 | PA      | $619440.69    | 0.21%             | 2030-01-25      | Variable      | 1.31%                 | No            |                  2 | On Loan: No      |
| FIP MASTER FUNDING LLC                                                              | FI 2026-1A A1                                       | CUSIP: 30332YAM3<br>LEI: 549300VYR1U1PKPKL718 | Long             | ABS-O            | CORP              | US        |   3100000 | PA      | $3047482.02   | 1.03%             | 2056-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| OCEANVIEW MORTGAGE LOAN TRUST 2020-1                                                | BVINV 2020-1 A1A                                    | CUSIP: 676477AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    256581 | PA      | $238563.39    | 0.08%             | 2050-05-28      | Variable      | 1.73%                 | No            |                  2 | On Loan: No      |
| ECMC GROUP STUDENT LOAN TRUST 2025-2                                                | ECMC 2025-2A A                                      | CUSIP: 26827YAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1792139 | PA      | $1796786.82   | 0.61%             | 2074-11-26      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST 2024-R1                                                  | VERUS 2024-R1 A2                                    | CUSIP: 924926AD0<br>LEI: 213800A8V9BALJ9WKP38 | Long             | ABS-O            | CORP              | US        |   2265048 | PA      | $2269208.02   | 0.77%             | 2069-09-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management Funds                                            | Dreyfus Government Cash Management Funds SH BEN INT | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |  10937584 | NS      | $10937583.62  | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Agate Bay Mortgage Trust 2016-2                                                     | ABMT 2016-2 A3                                      | CUSIP: 00842EAC5<br>LEI: 549300TSTBCBQ5EBD390 | Long             | ABS-O            | CORP              | US        |    719796 | PA      | $663375.98    | 0.22%             | 2046-03-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| OXFORD FINANCE FUNDING TRUST 2025-1                                                 | OXFIN 2025-1A A2                                    | CUSIP: 69144BAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1300000 | PA      | $1296629.36   | 0.44%             | 2035-02-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE-BACKED SECURITIES TRUST 2022-PJ3                                        | GSMBS 2022-PJ3 A6                                   | CUSIP: 362924AJ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1516782 | PA      | $1313759.25   | 0.44%             | 2052-08-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2013-9                                                       | SEMT 2013-9 A1                                      | CUSIP: 81745DAE1<br>LEI: 54930005PH54PMVV8351 | Long             | ABS-O            | CORP              | US        |   3095690 | PA      | $2896092.62   | 0.98%             | 2043-07-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST                                                                    | MA MAS 4.91 05/01/2029                              | CUSIP: 57582PUT5<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1558411.08   | 0.53%             | 2029-05-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| ALLO ISSUER LLC                                                                     | ALLO 2023-1A A2                                     | CUSIP: 01983KAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1600000 | PA      | $1611237.59   | 0.54%             | 2053-06-20      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust 2017-B                                             | SMB 2017-B A2B                                      | CUSIP: 83189DAC4<br>LEI: 549300NWENTZ8X7JUC78 | Long             | ABS-O            | CORP              | US        |     12390 | PA      | $12387.44     | 0.00%             | 2035-10-15      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                  | ET 6.5 02/01/42                                     | CUSIP: 29273RAR0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   3465000 | PA      | $3606421.47   | 1.22%             | 2042-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HOTWIRE FUNDING LLC                                                                 | HWIRE 2023-1A A2                                    | CUSIP: 44148HAA1<br>LEI: 254900ZCO90MCT7Y9348 | Long             | ABS-O            | CORP              | US        |   2400000 | PA      | $2415160.88   | 0.82%             | 2053-05-20      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| Apollo Global Management Inc                                                        | APO 5.7 03/30/36                                    | CUSIP: 03769MAG1<br>LEI: 254900LMFT1CY9IYB476 | Long             | DBT              | CORP              | US        |   2110000 | PA      | $2111449.22   | 0.71%             | 2036-03-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| OBX 2024-NQM1 TRUST                                                                 | OBX 2024-NQM1 A1                                    | CUSIP: 67448LAA0<br>LEI: 254900UI1468MQ7I8472 | Long             | ABS-O            | CORP              | US        |   1572408 | PA      | $1576808.39   | 0.53%             | 2063-11-25      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| FIP MASTER FUNDING LLC                                                              | FI 2024-1A A1                                       | CUSIP: 30332YAC5<br>LEI: 549300VYR1U1PKPKL718 | Long             | ABS-O            | CORP              | US        |   1992130 | PA      | $1974767.31   | 0.67%             | 2054-10-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE-BACKED SECURITIES TRUST 2021-PJ9                                        | GSMBS 2021-PJ9 A8                                   | CUSIP: 36263CAH2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    510022 | PA      | $458869.10    | 0.15%             | 2052-02-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN FS6206                                           | CUSIP: 3140XM3Q7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3423096 | PA      | $3484202.27   | 1.18%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Swch Commercial Mortgage Trust 2025-Data                                            | SWCH 2025-DATA A                                    | CUSIP: 78489CAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1480094.97   | 0.50%             | 2042-02-18      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| OXFORD FINANCE CREDIT FUND III 2025                                                 | OXFINF 2025-A A2                                    | CUSIP: 69145VAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1900000 | PA      | $1887644.87   | 0.64%             | 2034-08-14      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN FS4253                                           | CUSIP: 3140XKWP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2762719 | PA      | $2569541.26   | 0.87%             | 2050-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| The Depository Trust & Clearing Corporation                                         | DEPTCC V3.375 PERP D                                | CUSIP: 249670AB6<br>LEI: MLDY5N6PZ58ZE60QU102 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1240625.42   | 0.42%             | N/A             | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Constellation Software Inc.                                                         | CSUCN 5.461 02/16/34 144A                           | CUSIP: 21037XAD2<br>LEI: 549300B6PYHMCTDWQV29 | Long             | DBT              | CORP              | CA        |   2410000 | PA      | $2361415.32   | 0.80%             | 2034-02-16      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| Apollo Global Management Inc                                                        | APO 5.15 08/12/35                                   | CUSIP: 03769MAE6<br>LEI: 254900LMFT1CY9IYB476 | Long             | DBT              | CORP              | US        |   2340000 | PA      | $2268196.59   | 0.77%             | 2035-08-12      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BOURZOU ISSUER LLC                                                                  | CLDCD 2024-1A A2                                    | CUSIP: 102104AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1995698.92   | 0.67%             | 2049-11-22      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| RUN TR 2022-NQM1                                                                    | RUN 2022-NQM1 A1                                    | CUSIP: 74981CAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    706233 | PA      | $703068.40    | 0.24%             | 2067-03-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN FS1807                                           | CUSIP: 3140XHAH0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3228219 | PA      | $2999625.88   | 1.01%             | 2051-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SEASONED MORTGAGE TRUST 2025-1                                            | JPSMT 2025-1 A4                                     | CUSIP: 46659PAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2375503 | PA      | $2221725.41   | 0.75%             | 2063-01-25      | Variable      | 3.68%                 | No            |                  2 | On Loan: No      |
| SLM STUDENT LOAN TRUST 2011-2                                                       | SLMA 2011-2 A2                                      | CUSIP: 78446JAB2<br>LEI: 549300GQO6PBOYVGSS10 | Long             | ABS-O            | CORP              | US        |    279483 | PA      | $280858.73    | 0.09%             | 2034-10-25      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| Cameron LNG LLC                                                                     | CAMLNG 3.302 01/15/35 144A                          | CUSIP: 133434AB6<br>LEI: 549300C39FLHGVD73K22 | Long             | DBT              | CORP              | US        |   2790000 | PA      | $2425092.82   | 0.82%             | 2035-01-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Duke Energy Florida LLC                                                             | DUK 6.4 06/15/38                                    | CUSIP: 341099CL1<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |   3720000 | PA      | $4054931.49   | 1.37%             | 2038-06-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| VB-S1 ISSUER LLC                                                                    | VBTEL 2026-1A C2                                    | CUSIP: 91825HAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2940000 | PA      | $2888682.01   | 0.98%             | 2056-03-15      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| Safehold GL Holdings LLC                                                            | SAFE 6.1 04/01/34                                   | CUSIP: 785931AA4<br>LEI: 54930012UY5Z4Q8NL108 | Long             | DBT              | CORP              | US        |   2150000 | PA      | $2261251.15   | 0.76%             | 2034-04-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| CSMC Trust 2013-7                                                                   | CSMC 2013-7 A6                                      | CUSIP: 12647PAK4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    188180 | PA      | $175148.07    | 0.06%             | 2043-08-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNR 2020-48 DC                                      | CUSIP: 3136BAUB8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   3175930 | PA      | $2763041.07   | 0.93%             | 2050-07-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SMB PRIVATE EDUCATION LOAN TRUST 2024-E                                             | SMB 2024-E A1A                                      | CUSIP: 78450XAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    775014 | PA      | $777558.32    | 0.26%             | 2056-10-16      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SC0393                                           | CUSIP: 3132D9NJ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2295121 | PA      | $2305160.29   | 0.78%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST 2025-RM13                                       | BABS 2025-RM13 A1                                   | CUSIP: 10638PAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1997643 | PA      | $1934194.87   | 0.65%             | 2065-10-26      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                              | TFC V1.887 06/07/29 MTN                             | CUSIP: 89788MAE2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   1265000 | PA      | $1197255.35   | 0.40%             | 2029-06-07      | Fixed         | 1.89%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE-BACKED SECURITIES TRUST 2021-INV1                                       | GSMBS 2021-INV1 A6                                  | CUSIP: 36263KAF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    657701 | PA      | $588767.54    | 0.20%             | 2051-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER) | AER 3 10/29/28                                      | CUSIP: 00774MAW5<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |   2450000 | PA      | $2359248.01   | 0.80%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Alexander Funding Trust II                                                          | NRG 7.467 07/31/28                                  | CUSIP: 014916AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2290000 | PA      | $2410948.55   | 0.81%             | 2028-07-31      | Fixed         | 7.47%                 | No            |                  2 | On Loan: No      |
| SiriusPoint Ltd                                                                     | SPNT 7 04/05/29                                     | CUSIP: 82969BAA0<br>LEI: 549300OGXFI85N3YZZ51 | Long             | DBT              | CORP              | BM        |   2325000 | PA      | $2423739.21   | 0.82%             | 2029-04-05      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST 2023-2                                                       | SEMT 2023-2 A4                                      | CUSIP: 81744KAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2783363 | PA      | $2786089.00   | 0.94%             | 2053-03-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CA6316                                           | CUSIP: 3140QEAS1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1277390 | PA      | $1127605.87   | 0.38%             | 2050-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN BV5383                                           | CUSIP: 3140MJ6V2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2050553 | PA      | $1823050.32   | 0.62%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Airbnb Inc                                                                          | ABNB 4.65 03/16/31                                  | CUSIP: 009066AD3<br>LEI: 549300HMUDNO0RY56D37 | Long             | DBT              | CORP              | US        |   2125000 | PA      | $2121174.62   | 0.72%             | 2031-03-16      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Corporacion Nacional del Cobre de Chile                                             | CDEL 5.529 01/30/37 144A                            | CUSIP: 21987BBQ0<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |   3550000 | PA      | $3476670.28   | 1.17%             | 2037-01-30      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| Safehold GL Holdings LLC                                                            | SAFE 2.85 01/15/32                                  | CUSIP: 78646UAB5<br>LEI: 54930012UY5Z4Q8NL108 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2055821.10   | 0.69%             | 2032-01-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Finance Of America Structured Securities Tr 2017-HB1                                | FASST 2022-S6 A1                                    | CUSIP: 31740XAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1303748 | PA      | $1322807.20   | 0.45%             | 2061-07-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Simon Property Group LP                                                             | SPG 2.65 02/01/32                                   | CUSIP: 828807DT1<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              | CORP              | US        |    379000 | PA      | $337786.17    | 0.11%             | 2032-02-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST 2022-INV3                                                | JPMMT 2022-INV3 A3B                                 | CUSIP: 46593FAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1462742 | PA      | $1267098.80   | 0.43%             | 2052-09-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR RJ0062                                           | CUSIP: 3142GQB84<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3444993 | PA      | $3426116.52   | 1.16%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ggam Master Trust Internationa Ltd. / Ggam Mastertrust Us LLC                       | GGAMMT 2025-1A A                                    | CUSIP: 36173XAA0<br>LEI: 254900X2QXEN0FVXRF65 | Long             | ABS-O            | CORP              | KY        |   1769105 | PA      | $1762732.00   | 0.60%             | 2060-09-30      | Fixed         | 5.92%                 | No            |                  2 | On Loan: No      |
| Becle Sab DE CV                                                                     | JBYCMX 2.5 10/14/31 144A                            | CUSIP: 07586PAA9<br>LEI: 529900JY55CZKMJLCE09 | Long             | DBT              | CORP              | MX        |   2410000 | PA      | $2060691.73   | 0.70%             | 2031-10-14      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| KREF 2021-Fl2 Ltd.                                                                  | KREF 2021-FL2 AS                                    | CUSIP: 48275RAC1<br>LEI: 54930083ELM2GCMVTQ91 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1492782.75   | 0.50%             | 2039-02-17      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| SLC STUDENT LOAN TRUST 2005-2                                                       | SLCLT 2005-3 A4                                     | CUSIP: 784420AQ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2571144 | PA      | $2506326.03   | 0.85%             | 2039-12-15      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| VELOCITY COMMERCIAL CAPITAL LOAN TRUST 2026-1                                       | VCC 2026-1 M2                                       | CUSIP: 92262WAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1989790 | PA      | $1961588.13   | 0.66%             | 2056-02-25      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2017-3                                                       | SEMT 2017-3 A19                                     | CUSIP: 81746XAU0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1171039 | PA      | $1061520.82   | 0.36%             | 2047-04-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| FLAGSTAR MORTGAGE TRUST 2021-8INV                                                   | FSMT 2021-8INV A3                                   | CUSIP: 33852HAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    684003 | PA      | $566882.42    | 0.19%             | 2051-09-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| DATABANK ISSUER LLC                                                                 | COLO 2023-1A A2                                     | CUSIP: 23802WAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1350000 | PA      | $1339105.18   | 0.45%             | 2053-02-25      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Oxford Finance Funding 2019-1 Llc                                                   | OXFIN 2023-1A A2                                    | CUSIP: 69145CAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1532333 | PA      | $1543188.57   | 0.52%             | 2031-02-15      | Fixed         | 6.72%                 | No            |                  2 | On Loan: No      |
| HONDA AUTO RECEIVABLES 2026-1 OWNER TRUST                                           | HAROT 2026-1 A4                                     | CUSIP: 43815CAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1270000 | PA      | $1256655.47   | 0.42%             | 2032-05-21      | Fixed         | 3.86%                 | No            |                  2 | On Loan: No      |
| CF HIPPOLYTA ISSUER LLC                                                             | SORT 2020-1 B1                                      | CUSIP: 12530MAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2113712 | PA      | $1299931.32   | 0.44%             | 2060-07-15      | Fixed         | 2.28%                 | No            |                  2 | On Loan: No      |
| IMPERIAL FUND MORTGAGE TRUST 2021-NQM3                                              | IMPRL 2021-NQM3 A1                                  | CUSIP: 452762AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    596333 | PA      | $513112.51    | 0.17%             | 2056-11-25      | Variable      | 1.59%                 | No            |                  2 | On Loan: No      |
| PROVIDENT FUNDING MORTGAGE TRUST 2021-2                                             | PFMT 2021-2 A2A                                     | CUSIP: 74388JAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    556276 | PA      | $484340.12    | 0.16%             | 2051-04-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust 2006-2                                                    | NSLT 2006-2 A7                                      | CUSIP: 640315AJ6<br>LEI: 549300ICCIKZ4HWN5R47 | Long             | ABS-O            | CORP              | US        |   1573330 | PA      | $1542753.40   | 0.52%             | 2037-01-26      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| LEDN ISSUER TRUST 2026-1                                                            | LEDN 2026-1A A                                      | CUSIP: 523299AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3750000 | PA      | $3751849.13   | 1.27%             | 2041-02-25      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2019-INV3                                                  | JPMMT 2019-INV3 A3                                  | CUSIP: 46591LAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    470336 | PA      | $425284.72    | 0.14%             | 2050-05-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CB6326                                           | CUSIP: 3140QSA43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2120853 | PA      | $2140924.11   | 0.72%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OREGON ST                                                                           | OR ORSGEN 6.09 06/01/2028                           | CUSIP: 68608DFV1<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   2143521 | PA      | $2192383.92   | 0.74%             | 2028-06-01      | Fixed         | 6.09%                 | No            |                  2 | On Loan: No      |
| TRICON AMERICAN HOMES 2020-SFR1                                                     | TAH 2020-SFR1 A                                     | CUSIP: 89613GAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1383961 | PA      | $1371249.63   | 0.46%             | 2038-07-19      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FN MA4807                                           | CUSIP: 31418EKV1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1877541 | PA      | $1904796.51   | 0.64%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Palomino Funding Trust I                                                            | VST 7.233 05/17/28                                  | CUSIP: 69754AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4245000 | PA      | $4439259.36   | 1.50%             | 2028-05-17      | Fixed         | 7.23%                 | No            |                  2 | On Loan: No      |
| Pheaa Student Loan Trust 2016-1                                                     | PHEAA 2016-1A A                                     | CUSIP: 69343FAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    554651 | PA      | $558063.42    | 0.19%             | 2065-09-25      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| Huntington Bancshares Incorporated                                                  | HBAN 2.55 02/04/30                                  | CUSIP: 446150AS3<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   2590000 | PA      | $2399448.41   | 0.81%             | 2030-02-04      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2021-4                                                     | JPMMT 2021-4 A3B                                    | CUSIP: 46652VAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2205902 | PA      | $1731312.70   | 0.58%             | 2051-08-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FN MA4851                                           | CUSIP: 31418EL99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2806162 | PA      | $2830857.29   | 0.96%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                              | FHR 5501 JL                                         | CUSIP: 3137HJQR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1850000 | PA      | $1504994.44   | 0.51%             | 2048-06-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RCKT MORTGAGE TRUST 2021-6                                                          | RCKT 2021-6 A5                                      | CUSIP: 74939KAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750777 | PA      | $671564.52    | 0.23%             | 2051-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| PEAR LLC                                                                            | PEAR 2024-1 A                                       | CUSIP: 704933AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    508548 | PA      | $512395.13    | 0.17%             | 2036-02-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc.                                                   | PNC V4.899 05/13/31                                 | CUSIP: 693475CD5<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   3600000 | PA      | $3620882.30   | 1.22%             | 2031-05-13      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Newcastle Coal Infrastructure Group Pty Ltd                                         | NCIAU 4.4 09/29/27 144A                             | CUSIP: 65106WAA3<br>LEI: 549300YAJ8XYYGW2TZ32 | Long             | DBT              | CORP              | AU        |   2325012 | PA      | $2308919.77   | 0.78%             | 2027-09-29      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| JP MORGAN WEALTH MANAGEMENT MORTGAGE TRUST 2020-ATR1                                | JPMWM 2020-ATR1 A3                                  | CUSIP: 46652HAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1747433 | PA      | $1514872.11   | 0.51%             | 2050-02-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                       | USB V4.653 02/01/29                                 | CUSIP: 91159HJK7<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1070000 | PA      | $1074338.46   | 0.36%             | 2029-02-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD1360                                           | CUSIP: 3132DNQM8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2723542 | PA      | $2762162.61   | 0.93%             | 2052-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2024-VLT4                                                                  | BX 2024-VLT4 A                                      | CUSIP: 05612TAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1900000 | PA      | $1888185.31   | 0.64%             | 2041-06-17      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| FINANCE OF AMERICA STRUCTURED SECURITIES TRUST 2025-S1                              | FASST 2025-S1 A1                                    | CUSIP: 31741BAB0<br>LEI: 254900W0S6GNEJ457023 | Long             | ABS-O            | CORP              | US        |   1513546 | PA      | $1465432.88   | 0.49%             | 2075-02-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust                                                              | SLMA 2013-6 A3                                      | CUSIP: 78448CAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    862681 | PA      | $852310.47    | 0.29%             | 2055-06-26      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| VELOCITYSBA LOAN TRUST 2026-1                                                       | VLSBA 2026-1 A                                      | CUSIP: 922968AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1200000 | PA      | $1185000.00   | 0.40%             | 2051-01-20      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Compass Datacenters Issuer II LLC                                                   | CMPDC 2024-2A A1                                    | CUSIP: 20469AAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1495081.65   | 0.50%             | 2049-08-25      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| NAVIENT PRIVATE EDUCATION REFI LOAN TRUST 2021-A                                    | NAVSL 2021-A A                                      | CUSIP: 63942BAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    202269 | PA      | $185301.09    | 0.06%             | 2069-05-15      | Fixed         | 0.84%                 | No            |                  2 | On Loan: No      |
| WBHT COMMERCIAL MORTGAGE TRUST 2025-WBM                                             | WBHT 2025-WBM A                                     | CUSIP: 92943QAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1360000 | PA      | $1359152.08   | 0.46%             | 2042-06-16      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SEASONED MORTGAGE TRUST 2024-1                                            | JPSMT 2024-1 A3                                     | CUSIP: 61777HAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1528019 | PA      | $1466076.53   | 0.49%             | 2063-01-25      | Variable      | 4.34%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2016-3                                                     | JPMMT 2016-3 2A2                                    | CUSIP: 46647EAU5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    359196 | PA      | $336974.52    | 0.11%             | 2046-10-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| CF HIPPOLYTA ISSUER LLC                                                             | SORT 2021-1A B1                                     | CUSIP: 12530MAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    895325 | PA      | $545415.80    | 0.18%             | 2061-03-15      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                         | COF V6.377 06/08/34                                 | CUSIP: 14040HDA0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $4425800.53   | 1.49%             | 2034-06-08      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| HORIZON AIRCRAFT FINANCE IV LTD                                                     | HORZN 2024-1 A                                      | CUSIP: 43990EAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   2405000 | PA      | $2382641.68   | 0.80%             | 2049-09-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HTS FUND II LLC                                                                     | HTS 2025-1 A                                        | CUSIP: 40456GAA7<br>LEI: 30DICB58VS1001USGS60 | Long             | ABS-O            | CORP              | US        |   1350000 | PA      | $1348810.79   | 0.46%             | 2045-06-23      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Lyra Music Assets Del LP                                                            | LYRA 2025-1A A2                                     | CUSIP: 552339AD5<br>LEI: 9845007N9EAB0C048A12 | Long             | ABS-O            | CORP              | US        |   1296629 | PA      | $1306670.01   | 0.44%             | 2065-09-20      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| SLAM 2021-1 LLC                                                                     | SLAM 2021-1A A                                      | CUSIP: 78449AAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1330000 | PA      | $1260820.85   | 0.43%             | 2046-06-15      | Fixed         | 2.43%                 | No            |                  2 | On Loan: No      |
| Walt Disney Company                                                                 | DIS 6.65 11/15/37                                   | CUSIP: 254687EH5<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |   1970000 | PA      | $2216686.52   | 0.75%             | 2037-11-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2013-5                                                       | SEMT 2013-5 A1                                      | CUSIP: 81745AAA5<br>LEI: 549300671OK77JNRLK28 | Long             | ABS-O            | CORP              | US        |    366835 | PA      | $328260.33    | 0.11%             | 2043-05-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                      | C V4.503 09/11/31                                   | CUSIP: 172967QF1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3130000 | PA      | $3092582.34   | 1.04%             | 2031-09-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SEASONED MORTGAGE TRUST 2025-1                                            | JPSMT 2025-1 A3                                     | CUSIP: 46659PAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1066175 | PA      | $957407.07    | 0.32%             | 2063-01-25      | Variable      | 3.68%                 | No            |                  2 | On Loan: No      |
| HAWAII HOTEL TRUST 2025-MAUI                                                        | HHT 2025-MAUI A                                     | CUSIP: 419909AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1640000 | PA      | $1635535.35   | 0.55%             | 2042-03-17      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust 2017-B                                             | SMB 2017-B A2A                                      | CUSIP: 83189DAB6<br>LEI: 549300NWENTZ8X7JUC78 | Long             | ABS-O            | CORP              | US        |      2736 | PA      | $2732.78      | 0.00%             | 2035-10-15      | Fixed         | 2.82%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN FM6890                                           | CUSIP: 3140XAUQ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1504293 | PA      | $1348315.75   | 0.46%             | 2050-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Navient Private Education Loan Trust 2016-A                                         | NAVSL 2020-DA A                                     | CUSIP: 63941HAA0<br>LEI: 549300JSCKIU587G1R13 | Long             | ABS-O            | CORP              | US        |    257571 | PA      | $244363.89    | 0.08%             | 2069-05-15      | Fixed         | 1.69%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-27

**Name of Applicant:** Manning & Napier Fund, Inc.

**Signature:** Jill Peeper

**Name of Signer:** Jill Peeper

**Title:** Principal Financial Officer and Treasurer