# EDGAR Filing Document

**Accession Number:** 0000885709
**File Stem:** 0000940400-25-013940
**Filing Date:** 2025-12
**Character Count:** 158242
**Document Hash:** 9655b3d01daadc6b42dca275ea757aed
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-013940.hdr.sgml**: 20251219

**ACCESSION NUMBER**: 0000940400-25-013940

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251219

**DATE AS OF CHANGE**: 20251219

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PAYDEN & RYGEL INVESTMENT GROUP
- **CENTRAL INDEX KEY:** 0000885709

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06625
- **FILM NUMBER:** 251587222

**BUSINESS ADDRESS:**
- **STREET 1:** 333 S GRAND AVE
- **STREET 2:** 40TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 2136251900

**MAIL ADDRESS:**
- **STREET 1:** 333 S GRAND AVE
- **STREET 2:** 40TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAYDENFUNDS
- **DATE OF NAME CHANGE:** 20010423

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAYDEN & RYGEL INVESTMENT GROUP
- **DATE OF NAME CHANGE:** 19940104

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** P&R INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### Payden Managed Income Fund (Series ID: S000022678)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000065580 | Payden Managed Income Fund (SI Class)            | PKBIX           |
| C000069457 | Payden Managed Income Fund (Adviser Class)       | PKCBX           |
| C000077412 | Payden Managed Income Fund (Retirement Class)    | PKCRX           |
| C000172680 | Payden Managed Income Fund (Institutional Class) | PKCIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** PAYDEN & RYGEL INVESTMENT GROUP

- **b. Investment Company Act file number:** 811-06625

- **c. CIK number of Registrant:** 0000885709

- **d. LEI of Registrant:** 549300QJNYRKYZS3P282

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

  - **Street Address 1:** 333 South Grand Avenue

  - **City:** Los Angeles

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90071

  - **Telephone number:** 213-625-1900

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

- **a. Name of Series:** Payden Managed Income Fund

- **b. EDGAR series identifier (if any):** S000022678

- **c. LEI of Series:** 549300E8I3EQMB6RVA07

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $140274004.11

**Total Liabilities:** $13039976.91

**Net Assets:** $127234027.20

**Delayed Delivery Securities:** $2290146.87

**Cash Not Reported:** $2593000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 3.00000000 | **5-Year:** 2483.00000000 | **10-Year:** 6373.00000000 | **30-Year:** 11447.00000000

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

- **3-Month:** 1.00000000 | **1-Year:** 1.00000000 | **5-Year:** 4919.00000000 | **10-Year:** 7791.00000000 | **30-Year:** 5667.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000065580 | 1.06%                | 0.57%                | 0.10%                |
| Class ID C000069457 | 1.00%                | 0.50%                | 0.10%                |
| Class ID C000077412 | 0.97%                | 0.54%                | 0.00%                |
| Class ID C000172680 | 1.04%                | 0.56%                | 0.09%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $459559.45               | $473577.77                                 |
| Month 2  | $298135.88               | $232921.93                                 |
| Month 3  | $-549616.95              | $114125.45                                 |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BARCLAYS PLC                                                 | COP/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-66296.07    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | USD/ZAR FORWARD                                                           | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-13865.18    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                            | Clean Harbors Inc                                                         | CUSIP: 184496AR8<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |    220000 | PA      | $225003.87    | 0.18%             | 2033-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                          | JPMorgan Chase & Co                                                       | CUSIP: 46647PEY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154962.57    | 0.12%             | 2031-04-22      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                                       | Canyon CLO 2024-2 Ltd                                                     | CUSIP: 13877CAE6<br>LEI: 254900ZRCTSW8R4GLC69 | Long             | ABS-CBDO         | CORP              | KY        |    775000 | PA      | $778294.53    | 0.61%             | 2038-01-15      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                  | RCKT Mortgage Trust 2025-CES7                                             | CUSIP: 74943AAA0<br>LEI: 254900E35NYYFOUTHD06 | Long             | ABS-MBS          | CORP              | US        |    505039 | PA      | $509294.60    | 0.40%             | 2055-07-25      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                         | Cross 2025-H7 Mortgage Trust                                              | CUSIP: 22757JAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    565421 | PA      | $564381.34    | 0.44%             | 2070-09-25      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| DBC 2025-DBC Mortgage Trust                                  | DBC 2025-DBC Mortgage Trust                                               | CUSIP: 23306HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $350944.02    | 0.28%             | 2038-06-15      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| GRUPO ENERGIA BOGOTA                                         | Grupo Energia Bogota SA ESP                                               | CUSIP: 40053XAC3<br>LEI: 529900LG618OWYVHI655 | Long             | DBT              | CORP              | CO        |    300000 | PA      | $298357.50    | 0.23%             | 2035-10-22      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BANCO DE CREDITO DEL PER                                     | Banco de Credito del Peru S.A.                                            | CUSIP: 05971U2J5<br>LEI: 549300EQYQ8SCQZ4BY14 | Long             | DBT              | CORP              | PE        |    175000 | PA      | $182006.13    | 0.14%             | 2035-07-30      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Fortress CBO Investments Ltd                                 | FORT CRE 2022-FL3 Issuer LLC                                              | CUSIP: 34706CAC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    205168 | PA      | $204656.30    | 0.16%             | 2039-02-23      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                               | Bombardier Inc                                                            | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $105099.80    | 0.08%             | 2033-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | ZAR/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2476.41     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Trust 2025-VLT7                                                        | CUSIP: 123913AG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $403439.64    | 0.32%             | 2044-07-15      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl                               | Santander Drive Auto Receivables Trust 2024-S1                            | CUSIP: 80286UAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    184544 | PA      | $184626.15    | 0.15%             | 2029-03-16      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2023-HQA3                                   | CUSIP: 35564NAA1<br>LEI: 529900ZTXRUUVE8G8W08 | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $263640.15    | 0.21%             | 2043-11-25      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                  | RCKT Mortgage Trust 2025-CES6                                             | CUSIP: 748949AA2<br>LEI: 2549002LEW4WNQBOMB89 | Long             | ABS-MBS          | CORP              | US        |    399626 | PA      | $403481.88    | 0.32%             | 2055-06-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| ENERGUATE TRUST 2 0                                          | Energuate Trust 2 0                                                       | CUSIP: 29277RAB1<br>LEI: 2549000ZL9MU01FZK194 | Long             | DBT              | CORP              | KY        |    250000 | PA      | $251094.25    | 0.20%             | 2035-09-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                               | BRAVO Residential Funding Trust 2025-NQM6                                 | CUSIP: 10570MAF7<br>LEI: 254900U9H6FFPW4O4S55 | Long             | ABS-MBS          | CORP              | US        |    475000 | PA      | $479812.94    | 0.38%             | 2065-06-25      | Variable      | 6.03%                 | No            |                  2 | On Loan: No      |
| C&W SENIOR FINANCE LTD                                       | C&W Senior Finance Ltd                                                    | CUSIP: 12665MAA0<br>LEI: 213800CG16G1YMJRCG10 | Long             | DBT              | CORP              | KY        |    250000 | PA      | $255109.00    | 0.20%             | 2033-01-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CPPIB OVM MEMBER US LLC                                      | CPPIB OVM MEMBER US LLC                                                   | CUSIP: 12673CAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    148500 | PA      | $148991.26    | 0.12%             | 2031-08-20      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                   | Verus Securitization Trust 2025-8                                         | CUSIP: 924930AG5<br>LEI: 213800K8E68XJS6Z1D09 | Long             | ABS-MBS          | CORP              | US        |    444030 | PA      | $443033.91    | 0.35%             | 2070-09-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                      | Romanian Government International Bond                                    | CUSIP: 77586RAY6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    130000 | PA      | $133178.50    | 0.10%             | 2030-09-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/GBP FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $69155.07     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                                        | Uber Technologies Inc                                                     | CUSIP: 90353TAT7<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247745.65    | 0.19%             | 2031-01-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| BEECHWOOD PARK CLO LTD.                                      | BEECHWOOD PARK CLO LTD                                                    | CUSIP: 07355TBL5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    725000 | PA      | $725000.00    | 0.57%             | 2035-01-17      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Palisades Center Trust                                       | Palisades Center Trust 2016-PLSD                                          | CUSIP: 69640GAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    900000 | PA      | $0.00         | 0.00%             | 2033-04-13      | Fixed         | 3.36%                 | No            |                  3 | On Loan: No      |
| Woodward Capital Management                                  | Rckt Mortgage Trust 2025-CES4                                             | CUSIP: 74937YAA6<br>LEI: 254900VY2F6O6C6XTD40 | Long             | ABS-MBS          | CORP              | US        |    423396 | PA      | $429321.33    | 0.34%             | 2055-04-25      | Variable      | 5.81%                 | No            |                  2 | On Loan: No      |
| QXO Building Products Inc (f/k/a Beacon Roofing Supply Inc.) | QXO INC                                                                   | CUSIP: 07368RAJ0<br>LEI: 549300HDXQWWCBOYXP31 | Long             | LON              | CORP              | US        |    225000 | PA      | $225659.25    | 0.18%             | 2032-04-30      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                                              | Cigna Group/The                                                           | CUSIP: 125523CX6<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200823.16    | 0.16%             | 2030-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Trust 2023-DELC                                                        | CUSIP: 05610DAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $501368.60    | 0.39%             | 2038-05-15      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| Capital Automotive Reit                                      | CARS-DB4 LP                                                               | CUSIP: 12510HAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $274579.44    | 0.22%             | 2050-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                              | United States Treasury Note/Bond                                          | CUSIP: 91282CNP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1150000 | PA      | $1154986.33   | 0.91%             | 2027-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| KIER GROUP PLC                                               | Kier Group PLC                                                            | CUSIP: 000000000<br>LEI: 2138002RKCU2OM4Y7O48 | Long             | DBT              | CORP              | GB        |    350000 | PA      | $485201.02    | 0.38%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | PEN/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-58301.07    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| CIA DE MINAS BUENAVENTUR                                     | Cia de Minas Buenaventura SAA                                             | CUSIP: 204448AB0<br>LEI: 529900WQB1ZU9KB6EL71 | Long             | DBT              | CORP              | PE        |    575000 | PA      | $599437.50    | 0.47%             | 2032-02-04      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Payden Emerging Markets Local Bond Fund                      | Payden Emerging Markets Local Bond Fund                                   | CUSIP: 70432T867<br>LEI: 549300ZRY78UEWJB7K76 | Long             | EC               | RF                | US        |    397140 | NS      | $3868143.26   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2023-R03                              | CUSIP: 20753AAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1300000 | PA      | $1373711.69   | 1.08%             | 2043-04-25      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| AECOM                                                        | AECOM                                                                     | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    300000 | PA      | $308103.00    | 0.24%             | 2033-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                                         | Flutter Treasury DAC                                                      | CUSIP: 000000000<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |    325000 | PA      | $431552.87    | 0.34%             | 2031-06-04      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Hanesbrands Inc                                              | HANESBRANDS INC                                                           | CUSIP: 410346AY6<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | LON              | CORP              | US        |    472750 | PA      | $475113.44    | 0.37%             | 2032-03-07      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| MIC Glen LLC                                                 | MIC GLEN LLC                                                              | CUSIP: 55304PAH4<br>LEI: 549300XD843A2SP50882 | Long             | LON              | CORP              | US        |    380256 | PA      | $383323.13    | 0.30%             | 2028-07-21      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                        | KKR Clo 25 Ltd                                                            | CUSIP: 48252UAU1<br>LEI: 549300MJB0YZ0QTQNZ45 | Long             | ABS-CBDO         | CORP              | KY        |    600000 | PA      | $597678.00    | 0.47%             | 2034-07-15      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                                         | YPF SA                                                                    | CUSIP: 984245AY6<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    250000 | PA      | $257443.00    | 0.20%             | 2031-09-11      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| VIKING BAKED GOODS ACQUI                                     | Viking Baked Goods Acquisition Corp                                       | CUSIP: 92676AAA5<br>LEI: 254900DBFD2H1FJK0893 | Long             | DBT              | CORP              | US        |    285000 | PA      | $286671.53    | 0.23%             | 2031-11-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US 10YR NOTE (CBT)                                                        | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        65 | NC      | $-76425.10    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF ZAMBIA                                           | Zambia Government International Bond                                      | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |    459589 | PA      | $442696.03    | 0.35%             | 2033-06-30      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                        | Guatemala Government Bond                                                 | CUSIP: 401494BA6<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    300000 | PA      | $316851.00    | 0.25%             | 2036-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| OHI GROUP SA                                                 | OHI Group SA                                                              | CUSIP: 67712MAB5<br>LEI: 529900GW2J8DSYJHEH26 | Long             | DBT              | CORP              | LU        |    190000 | PA      | $196365.00    | 0.15%             | 2029-07-22      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| United Natural Foods Inc                                     | UNITED NATURAL FOODS INC                                                  | CUSIP: 91116KAD7<br>LEI: 549300GKGW6WPZ282D40 | Long             | LON              | CORP              | US        |    344314 | PA      | $346895.85    | 0.27%             | 2031-04-25      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                      | Romanian Government International Bond                                    | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    200000 | PA      | $240800.08    | 0.19%             | 2032-07-11      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BCPE FLAVOR DEBT/ISSUER                                      | BCPE Flavor Debt Merger Sub LLC and BCPE Flavor Issuer Inc                | CUSIP: 072933AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $226726.88    | 0.18%             | 2032-07-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| DBC 2025-DBC Mortgage Trust                                  | DBC 2025-DBC Mortgage Trust                                               | CUSIP: 23306HAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $501479.90    | 0.39%             | 2038-06-15      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| SAGAX EURO MTN                                               | Sagax Euro Mtn NL BV                                                      | CUSIP: 000000000<br>LEI: 549300M3FFATWSV78G84 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $276980.91    | 0.22%             | 2028-01-26      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| EP Wealth Advisors LLC                                       | EP WEALTH ADVISORS INC                                                    | CUSIP: 29416NAB2<br>LEI: 254900EMIFA00FZWU856 | Long             | LON              | CORP              | US        |    450000 | PA      | $451968.75    | 0.36%             | 2032-10-18      | Floating      | 6.89%                 | No            |                  2 | On Loan: No      |
| MCR Mortgage Trust                                           | MCR 2024-HTL Mortgage Trust                                               | CUSIP: 55286PAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    241708 | PA      | $242027.19    | 0.19%             | 2037-02-15      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                            | EURO-SCHATZ                                                               | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -19 | NC      | $-952.27      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                                                 | Broadcom Inc                                                              | CUSIP: 11135FCL3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    250000 | PA      | $255650.78    | 0.20%             | 2032-07-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| EMRLD Borrower LP                                            | EMRLD BORROWER LP                                                         | CUSIP: 26872NAD1<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |    446625 | PA      | $445626.80    | 0.35%             | 2031-08-04      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                     | Neuberger Berman Loan Advisers CLO 41 Ltd                                 | CUSIP: 64134BAJ9<br>LEI: 549300RYH1PYRU661D66 | Long             | ABS-CBDO         | CORP              | KY        |    350000 | PA      | $350467.95    | 0.28%             | 2034-04-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| FIEMEX ENERGIA - BANC AC                                     | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    198101 | PA      | $209862.76    | 0.16%             | 2041-01-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limit                               | Bain Capital Credit CLO 2020-1 Ltd                                        | CUSIP: 05684DAY9<br>LEI: 2549007DKQFBF2N6NR86 | Long             | ABS-CBDO         | CORP              | KY        |    503485 | PA      | $503631.19    | 0.40%             | 2033-04-18      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ALBANIA                                          | Albania Government International Bond                                     | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |    375000 | PA      | $445398.66    | 0.35%             | 2035-02-14      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                     | Brazil Notas do Tesouro Nacional Serie F                                  | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   8000000 | PA      | $1309766.60   | 1.03%             | 2031-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| SONA FIOS CLO                                                | Sona Fios CLO I DAC                                                       | CUSIP: 000000000<br>LEI: 635400DKZUMF3VS6WZ22 | Long             | ABS-CBDO         | CORP              | IE        |    300000 | PA      | $345929.17    | 0.27%             | 2036-07-15      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Rec                               | American Credit Acceptance Receivables Trust 2024-4                       | CUSIP: 024945AG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $501998.60    | 0.39%             | 2031-08-12      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| BKV UPSTREAM MIDSTREAM L                                     | BKV Upstream Midstream LLC                                                | CUSIP: 05619CAA3<br>LEI: 254900LG75NBYHBBAU18 | Long             | DBT              | CORP              | US        |    500000 | PA      | $501145.80    | 0.39%             | 2030-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | CHF/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $27280.18     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| FISERV FUNDING UNLTD CO                                      | Fiserv Funding ULC                                                        | CUSIP: 337735AA2<br>LEI: 254900RNWK5SE9A0I712 | Long             | DBT              | CORP              | IE        |    350000 | PA      | $403166.27    | 0.32%             | 2028-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-DNA2                                   | CUSIP: 35564KRN1<br>LEI: 5493000ISA3AUOXQEF68 | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $517339.70    | 0.41%             | 2042-02-25      | Floating      | 7.93%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                           | META PLATFORMS INC                                                        | CUSIP: 30303MAB8<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199836.80    | 0.16%             | 2030-11-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Octagon 57 Ltd                                               | Octagon 57 Ltd                                                            | CUSIP: 67592XAN0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $399800.00    | 0.31%             | 2034-10-15      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| CPT MORTGAGE TRUST                                           | CENTURY PLAZA TOWERS 2019-CPT                                             | CUSIP: 12654YAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    425000 | PA      | $375645.22    | 0.30%             | 2039-11-13      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| HIH Trust                                                    | HIH Trust 2024-61P                                                        | CUSIP: 40444VAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    246313 | PA      | $248261.40    | 0.20%             | 2041-10-15      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Commercial Mortgage Trust 2025-BCAT                                    | CUSIP: 12433HAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    287485 | PA      | $288075.26    | 0.23%             | 2042-08-15      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-DNA7                                   | CUSIP: 35564KNE5<br>LEI: 5493000ISOMSKCX2AW62 | Long             | ABS-MBS          | CORP              | US        |    650000 | PA      | $689664.76    | 0.54%             | 2041-11-25      | Floating      | 11.98%                | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                     | Neuberger Berman Loan Advisers CLO 45 Ltd                                 | CUSIP: 64134MAJ5<br>LEI: 549300BQ0WQMX5H5TS32 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $999511.00    | 0.79%             | 2036-10-14      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| LIMAK CIMENTO SANAYI                                         | Limak Cimento Sanayi ve Ticaret AS                                        | CUSIP: 53263AAA6<br>LEI: 789000EEUQIGHI88WH47 | Long             | DBT              | CORP              | TR        |    400000 | PA      | $411513.91    | 0.32%             | 2029-07-25      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/JPY FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $48722.50     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| PetsMart LLC                                                 | PETSMART INC                                                              | CUSIP: 71677HAN5<br>LEI: 894500NGJMHSFNESGA67 | Long             | LON              | CORP              | US        |    425000 | PA      | $419687.50    | 0.33%             | 2032-08-18      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| Fr Br Holdings, L.L.C.                                       | FR BR HOLDINGS LLC                                                        | CUSIP: 30260XAD1<br>LEI: 549300FJFG2CK1VX3Y85 | Long             | LON              | CORP              | US        |    375000 | PA      | $374062.50    | 0.29%             | 2030-10-09      | Floating      | 8.19%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-DNA3                                   | CUSIP: 35564KVE6<br>LEI: 5493000IS4M3TZMRB410 | Long             | ABS-MBS          | CORP              | US        |    650000 | PA      | $680753.97    | 0.54%             | 2042-04-25      | Floating      | 8.53%                 | No            |                  2 | On Loan: No      |
| TESCO CORP TREASURY SERV                                     | Tesco Corporate Treasury Services PLC                                     | CUSIP: 000000000<br>LEI: 21380018AJDKNF3A6712 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $348391.90    | 0.27%             | 2032-05-06      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BOPARAN FINANCE PLC                                          | Boparan Finance PLC                                                       | CUSIP: 000000000<br>LEI: 213800GQSQIOBR3DHN70 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $139749.73    | 0.11%             | 2029-11-07      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Lt                               | Benefit Street Partners CLO XXIV Ltd                                      | CUSIP: 08182NAJ1<br>LEI: 254900F6RDYGOMBGPF86 | Long             | ABS-CBDO         | CORP              | KY        |    350000 | PA      | $349435.10    | 0.27%             | 2034-10-20      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                               | Wells Fargo Commercial Mortgage Trust 2024-MGP                            | CUSIP: 95003TAW3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $199972.74    | 0.16%             | 2041-08-15      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| TURKIYE GARANTI BANKASI                                      | Turkiye Garanti Bankasi AS                                                | CUSIP: 900148AJ6<br>LEI: 5493002XSS7K7RHN1V37 | Long             | DBT              | CORP              | TR        |    250000 | PA      | $251070.79    | 0.20%             | 2036-04-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                               | Bombardier Inc                                                            | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $210228.20    | 0.17%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-DNA2                                   | CUSIP: 35564KSQ3<br>LEI: 5493000ISA3AUOXQEF68 | Long             | ABS-MBS          | CORP              | US        |    525000 | PA      | $567970.36    | 0.45%             | 2042-02-25      | Floating      | 12.68%                | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/MXN FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3425.26     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                        | QUIKRETE HOLDING 01/30/32                                                 | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    498747 | PA      | $499916.43    | 0.39%             | 2032-02-10      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| BDS Ltd                                                      | BDS 2025-FL15 LLC                                                         | CUSIP: 05556EAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    300000 | PA      | $300567.00    | 0.24%             | 2043-03-19      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| Amneal Pharmaceuticals LLC                                   | AMNEAL PHARMACEUTICALS LLC                                                | CUSIP: 03167DAR5<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |    335000 | PA      | $338209.30    | 0.27%             | 2032-08-02      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| GRUPPO SAN DONATO SPA                                        | Gruppo San Donato SPA                                                     | CUSIP: 000000000<br>LEI: 8156003649DB0704FC22 | Long             | DBT              | CORP              | IT        |    275000 | PA      | $326260.28    | 0.26%             | 2031-10-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GDZ ELEKTRIK DAGITIM AS                                      | GDZ Elektrik Dagitim AS                                                   | CUSIP: 000000000<br>LEI: 984500B63B5766038A64 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $196265.79    | 0.15%             | 2029-10-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Fannie Mae Connecticut Avenue Securities                                  | CUSIP: 30711XCH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |    123443 | PA      | $128488.74    | 0.10%             | 2028-09-25      | Floating      | 16.55%                | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                             | Hewlett Packard Enterprise Co                                             | CUSIP: 42824CBV0<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173221.27    | 0.14%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Avenue of Americas                                           | 1301 Trust 2025-AOA                                                       | CUSIP: 682461AJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $254239.40    | 0.20%             | 2042-08-11      | Variable      | 6.22%                 | No            |                  2 | On Loan: No      |
| DBC 2025-DBC Mortgage Trust                                  | DBC 2025-DBC Mortgage Trust                                               | CUSIP: 23306HAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375000 | PA      | $376512.71    | 0.30%             | 2038-06-15      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                   | BFLD Commercial Mortgage Trust 2025-660F                                  | CUSIP: 05556QAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    525000 | PA      | $526662.20    | 0.41%             | 2042-11-15      | Floating      | 5.82%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | NOK/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $45055.98     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| MEDCO CYPRESS TREE PTE                                       | Medco Cypress Tree Pte Ltd                                                | CUSIP: 58406VAA7<br>LEI: 254900NKZ2Y3YZK4WC46 | Long             | DBT              | CORP              | SG        |    250000 | PA      | $265196.19    | 0.21%             | 2030-05-19      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| McGraw-Hill Education Inc                                    | MCGRAW-HILL EDUCATION                                                     | CUSIP: 58063DAG8<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | LON              | CORP              | US        |    567066 | PA      | $567065.61    | 0.45%             | 2031-08-06      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| Terex Corporation                                            | TEREX CORP                                                                | CUSIP: 88078FBQ0<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | LON              | CORP              | US        |    373127 | PA      | $374817.61    | 0.29%             | 2031-10-08      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Trust 2023-LIFE                                                        | CUSIP: 05609DAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    460000 | PA      | $451234.24    | 0.35%             | 2028-02-15      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Avenue of Americas                                           | 1301 Trust 2025-AOA                                                       | CUSIP: 682461AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    325000 | PA      | $330171.50    | 0.26%             | 2042-08-11      | Variable      | 5.06%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                             | COLT 2025-8 Mortgage Loan Trust                                           | CUSIP: 19689DAC3<br>LEI: 2138009IZ4NQZAKAEN75 | Long             | ABS-MBS          | CORP              | US        |    366795 | PA      | $369589.69    | 0.29%             | 2070-08-25      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                               | Wells Fargo Commercial Mortgage Trust 2018-C46                            | CUSIP: 95001QAV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7494932 | PA      | $124158.79    | 0.10%             | 2051-08-15      | Variable      | 0.90%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                                 | Synopsys Inc                                                              | CUSIP: 871607AE7<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    165000 | PA      | $167679.27    | 0.13%             | 2035-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R01                              | CUSIP: 20754LAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    825000 | PA      | $864280.07    | 0.68%             | 2041-12-25      | Floating      | 10.18%                | No            |                  2 | On Loan: No      |
| ACRE COMMERCIAL MORTGAGE TRUST                               | ACRE Commercial Mortgage 2021-FL4 Ltd                                     | CUSIP: 00489TAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    100000 | PA      | $98883.67     | 0.08%             | 2037-12-18      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                             | S&P500 EMINI                                                              | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |        -6 | NC      | $-8475.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                            | EURO-BUND                                                                 | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -25 | NC      | $-47027.54    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| GRUPO NUTRESA SA                                             | Grupo Nutresa SA                                                          | CUSIP: 40055CAA1<br>LEI: 254900KKAX7B7RJUE255 | Long             | DBT              | CORP              | CO        |    200000 | PA      | $215150.00    | 0.17%             | 2030-05-12      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Omnia Partners, LLC                                          | OMNIA PARTNERS LLC                                                        | CUSIP: 68218HAE7<br>LEI: 254900ZD1P5CVG9GOS22 | Long             | LON              | CORP              | US        |    272250 | PA      | $272782.25    | 0.21%             | 2030-07-25      | Floating      | 6.36%                 | No            |                  2 | On Loan: No      |
| LETRA TESOURO NACIONAL                                       | Brazil Letras do Tesouro Nacional                                         | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |  36000000 | PA      | $6326836.84   | 4.97%             | 2026-04-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ACREC LLC                                                    | Acrec 2025 Fl 3 LLC                                                       | CUSIP: 00112HAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    500000 | PA      | $500146.50    | 0.39%             | 2042-08-18      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Madison Iaq LLC                                              | MADISON IAQ LLC                                                           | CUSIP: 55759VAB4<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |    198964 | PA      | $199580.53    | 0.16%             | 2028-06-21      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| DOBANK SPA                                                   | doValue SpA                                                               | CUSIP: 000000000<br>LEI: 8156007AF7DB5FE05555 | Long             | DBT              | CORP              | IT        |    250000 | PA      | $288162.50    | 0.23%             | 2031-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                        | Toronto-Dominion Bank/The                                                 | CUSIP: 89115KAE0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $99950.38     | 0.08%             | 2028-10-13      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                               | Open Text Corp                                                            | CUSIP: 683715AF3<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    375000 | PA      | $390844.88    | 0.31%             | 2027-12-01      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| WMG ACQUISITION CORP                                         | WMG Acquisition Corp                                                      | CUSIP: 92933BAT1<br>LEI: 549300NAS11NXI33CP80 | Long             | DBT              | CORP              | US        |    175000 | PA      | $167554.24    | 0.13%             | 2029-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR Debt Notes 2015-HQA2                                    | CUSIP: 3137G0HM4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    297454 | PA      | $298962.94    | 0.23%             | 2028-05-25      | Floating      | 14.80%                | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                     | USD/EUR FORWARD                                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-30147.66    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R03                              | CUSIP: 20753XAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $516879.85    | 0.41%             | 2042-03-25      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Commercial Mortgage Trust 2021-VOLT                                    | CUSIP: 05609VAN5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    387531 | PA      | $387347.91    | 0.30%             | 2036-09-15      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| Evergreen AcqCo 1 LP                                         | EVERGREEN ACQCO 1 LP                                                      | CUSIP: 30015FAJ5<br>LEI: 549300F6POVHG3ME8T95 | Long             | LON              | CORP              | US        |    392541 | PA      | $393375.08    | 0.31%             | 2032-09-13      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-HQA1                                   | CUSIP: 35564KUE7<br>LEI: 5493000IRODEKU3J3Q16 | Long             | ABS-MBS          | CORP              | US        |    950000 | PA      | $1022320.84   | 0.80%             | 2042-03-25      | Floating      | 11.18%                | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                                        | Amrize Finance US LLC                                                     | CUSIP: 43475RAC0<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153606.99    | 0.12%             | 2030-04-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| STAR PARENT INC                                              | Star Parent Inc                                                           | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |    350000 | PA      | $374158.92    | 0.29%             | 2030-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                                            | Ghana Government International Bond                                       | CUSIP: 374422AP8<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |    375000 | PA      | $324131.23    | 0.25%             | 2035-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                         | Cross 2025-H6 Mortgage Trust                                              | CUSIP: 22758TAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    512299 | PA      | $513303.76    | 0.40%             | 2070-07-25      | Variable      | 5.18%                 | No            |                  2 | On Loan: No      |
| INVITATION HOMES OP                                          | Invitation Homes Operating Partnership LP                                 | CUSIP: 46188BAH5<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              | CORP              | US        |    300000 | PA      | $301478.72    | 0.24%             | 2033-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| PHOENIX AVIATION CAPITAL                                     | Phoenix Aviation Capital Ltd                                              | CUSIP: 71910DAA9<br>LEI: 8945008YQAKXZQ3VYJ15 | Long             | DBT              | CORP              | IE        |    275000 | PA      | $289942.68    | 0.23%             | 2030-07-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | USD/BRL FORWARD                                                           | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $8360.35      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust                               | SWCH Commercial Mortgage Trust 2025-DATA                                  | CUSIP: 78489CAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    775000 | PA      | $771344.56    | 0.61%             | 2042-02-15      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| CRH AMERICA FINANCE INC                                      | CRH America Finance Inc                                                   | CUSIP: 12636YAE2<br>LEI: 549300WEVUODRJ4CWK56 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207518.62    | 0.16%             | 2034-05-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| DC Commercial Mortgage Trust                                 | DC Commercial Mortgage Trust 2023-DC                                      | CUSIP: 24023AAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    335000 | PA      | $346227.06    | 0.27%             | 2040-09-12      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Trust 2025-VLT6                                                        | CUSIP: 12433KAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $299534.16    | 0.24%             | 2042-03-15      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY PVT BANK                                      | Morgan Stanley Private Bank NA                                            | CUSIP: 61776NVG5<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |    250000 | PA      | $253978.15    | 0.20%             | 2031-07-18      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| Lightning Power, LLC                                         | LIGHTNING POWER LLC                                                       | CUSIP: 53229LAB3<br>LEI: 254900BWCHJ03XRL8K59 | Long             | LON              | CORP              | US        |    272250 | PA      | $273781.41    | 0.22%             | 2031-08-18      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC                                                 | Alphabet Inc                                                              | CUSIP: 02079KAP2<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    350000 | PA      | $403631.61    | 0.32%             | 2029-05-06      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                                 | ADT Security Corp/The                                                     | CUSIP: 00109LAB9<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |    250000 | PA      | $254236.74    | 0.20%             | 2033-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 15 Ltd                                           | Elmwood CLO 15 Ltd                                                        | CUSIP: 29003JAN4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $999161.00    | 0.79%             | 2035-04-22      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R02                              | CUSIP: 20754BAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1075000 | PA      | $1115971.69   | 0.88%             | 2042-01-25      | Floating      | 8.68%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | USD/GBP FORWARD                                                           | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $36684.71     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CNTL AMR BOTTLING CORP                                       | Central American Bottling Corp / CBC Bottling Holdco SL / Beliv Holdco SL | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |    470000 | PA      | $460979.90    | 0.36%             | 2029-04-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2021-R01                              | CUSIP: 20754RAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    800000 | PA      | $832056.00    | 0.65%             | 2041-10-25      | Floating      | 10.18%                | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2025-NQM19 Trust                                                      | CUSIP: 67449LAA9<br>LEI: 2549003HKVOL66FLG606 | Long             | ABS-MBS          | CORP              | US        |    825000 | PA      | $822525.00    | 0.65%             | 2065-10-25      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2025-R02                              | CUSIP: 20754TAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $451191.38    | 0.35%             | 2045-02-25      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                         | Cross 2024-H8 Mortgage Trust                                              | CUSIP: 22757GAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    575000 | PA      | $583200.77    | 0.46%             | 2069-12-25      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                                          | Nigeria Government International Bond                                     | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    200000 | PA      | $225542.59    | 0.18%             | 2034-12-09      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                                       | Egypt Government International Bond                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    250000 | PA      | $280797.87    | 0.22%             | 2030-04-16      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2025-NQM6 Trust                                                       | CUSIP: 67448UAC6<br>LEI: 254900W46UQEWQMYYZ02 | Long             | ABS-MBS          | CORP              | US        |    396639 | PA      | $400518.77    | 0.31%             | 2065-03-25      | Variable      | 5.96%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                               | Bravo Residential Funding Trust 2025-NQM10                                | CUSIP: 10570BAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    625000 | PA      | $623875.00    | 0.49%             | 2065-09-25      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust                                | NYC Commercial Mortgage Trust 2025-28L                                    | CUSIP: 67123JAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    225000 | PA      | $224734.14    | 0.18%             | 2038-11-05      | Variable      | 5.01%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                     | EUR/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $225924.34    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| HCA INC                                                      | HCA Inc                                                                   | CUSIP: 404119DF3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    300000 | PA      | $296561.44    | 0.23%             | 2035-11-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Commercial Real E                               | Arbor Realty Commercial Real Estate Notes 2025-FL1 LLC                    | CUSIP: 03881KAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    275000 | PA      | $275016.64    | 0.22%             | 2043-01-20      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                     | Ford Motor Credit Co LLC                                                  | CUSIP: 345397H89<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    325000 | PA      | $321215.75    | 0.25%             | 2035-10-31      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| KKR Static CLO Ltd, KKR Static                               | KKR Static CLO I LTD                                                      | CUSIP: 48255QAU7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    185291 | PA      | $185444.29    | 0.15%             | 2031-07-20      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-DNA6                                   | CUSIP: 35564KLV9<br>LEI: 5493000ISONLNOUKGB71 | Long             | ABS-MBS          | CORP              | US        |    725000 | PA      | $764210.03    | 0.60%             | 2041-10-25      | Floating      | 11.68%                | No            |                  2 | On Loan: No      |
| TPG Real Estate Finance                                      | TRTX 2025-FL7 issuer Ltd                                                  | CUSIP: 87277LAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250875.00    | 0.20%             | 2043-06-18      | Floating      | 6.68%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                        | Duke Energy Carolinas LLC                                                 | CUSIP: 26442CBP8<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154251.81    | 0.12%             | 2030-03-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| SCOTIABANK PERU SA                                           | Scotiabank Peru SAA                                                       | CUSIP: 80928HAB9<br>LEI: 5493001E54CPRG5J5Q41 | Long             | DBT              | CORP              | PE        |    325000 | PA      | $338162.50    | 0.27%             | 2035-10-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: —       |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-HQA4                                   | CUSIP: 35564KPN3<br>LEI: 5493000ISE4NWBTOSK36 | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $307606.98    | 0.24%             | 2041-12-25      | Floating      | 7.93%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                       | Santander Holdings USA Inc                                                | CUSIP: 80282KBM7<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152837.36    | 0.12%             | 2030-09-06      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/EUR FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-27510.22    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| VISA INC                                                     | Visa Inc                                                                  | CUSIP: 92826CAU6<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |    350000 | PA      | $401958.48    | 0.32%             | 2028-05-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                                         | SCG Trust 2025-SNIP                                                       | CUSIP: 78398JAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    475000 | PA      | $476376.60    | 0.37%             | 2042-09-15      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| KREF 2022-Fl3 Ltd                                            | KREF 2022-FL3 Ltd                                                         | CUSIP: 48275EAJ5<br>LEI: 549300DG0FGL1EU1CT79 | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $298885.44    | 0.23%             | 2039-02-17      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2024-NQM12 Trust                                                      | CUSIP: 67448PAC7<br>LEI: 254900MY906NOBBPOA44 | Long             | ABS-MBS          | CORP              | US        |    147425 | PA      | $148216.93    | 0.12%             | 2064-07-25      | Variable      | 5.83%                 | No            |                  2 | On Loan: No      |
| DGWD Trust                                                   | DGWD Trust 2025-INFL                                                      | CUSIP: 23347FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $402364.96    | 0.32%             | 2035-08-15      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                  | Extended Stay America Trust 2025-ESH                                      | CUSIP: 30227TAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    180000 | PA      | $182383.70    | 0.14%             | 2042-10-15      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                                      | Hungary Government International Bond                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    400000 | PA      | $478339.80    | 0.38%             | 2034-06-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                  | RCKT Mortgage Trust 2025-CES2                                             | CUSIP: 74942BAA9<br>LEI: 2549001985H26N17CK52 | Long             | ABS-MBS          | CORP              | US        |    323046 | PA      | $325931.79    | 0.26%             | 2055-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC                                             | VB-S1 Issuer LLC - VBTEL                                                  | CUSIP: 91823ABG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $207645.22    | 0.16%             | 2054-05-15      | Fixed         | 8.87%                 | No            |                  2 | On Loan: No      |
| Lackawanna Energy Center LLC                                 | LACKAWANNA ENERGY CENTER                                                  | CUSIP: 000000000<br>LEI: 549300IW2LJBNY42EC59 | Long             | LON              | CORP              | US        |    243675 | PA      | $244497.88    | 0.19%             | 2032-08-05      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | AUD/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $18910.87     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                          | Petroleos Mexicanos                                                       | CUSIP: 71654QCL4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    375000 | PA      | $300848.51    | 0.24%             | 2048-02-12      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                     | JP Morgan Mortgage Trust Series 2025-NQM1                                 | CUSIP: 46593QAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    528574 | PA      | $533684.48    | 0.42%             | 2065-06-25      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                                 | Synopsys Inc                                                              | CUSIP: 871607AD9<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    130000 | PA      | $132770.48    | 0.10%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                                     | EMRLD Borrower LP / Emerald Co-Issuer Inc                                 | CUSIP: 26873CAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $156103.50    | 0.12%             | 2031-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                             | Societe Generale SA                                                       | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $435578.21    | 0.34%             | 2029-06-12      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| ALTICE FRAN LUX 3/HOLD 1                                     | Altice France Lux 3 / Altice Holdings 1                                   | CUSIP: 020956AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     65000 | PA      | $61185.50     | 0.05%             | 2033-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2021-R02                              | CUSIP: 20754KAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    925000 | PA      | $965923.67    | 0.76%             | 2041-11-25      | Floating      | 10.38%                | No            |                  2 | On Loan: No      |
| CITGO PETROLEUM CORP                                         | CITGO Petroleum Corp                                                      | CUSIP: 17302XAM8<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |    225000 | PA      | $225412.43    | 0.18%             | 2026-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Trust 2025-VLT6                                                        | CUSIP: 12433KAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $299709.90    | 0.24%             | 2042-03-15      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| SAAVI ENERGIA SARL                                           | Saavi Energia Sarl                                                        | CUSIP: 000000000<br>LEI: 254900A2V0IO8K56UH35 | Long             | DBT              | CORP              | LU        |    375000 | PA      | $403593.75    | 0.32%             | 2035-02-10      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US 5YR NOTE (CBT)                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        95 | NC      | $-21210.56    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| BRAVO Residential Funding Trus                               | BRAVO Residential Funding Trust 2025-NQM6                                 | CUSIP: 10570MAE0<br>LEI: 254900U9H6FFPW4O4S55 | Long             | ABS-MBS          | CORP              | US        |    327373 | PA      | $328204.92    | 0.26%             | 2065-06-25      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| ORBIA ADVANCE CORP SAB                                       | Orbia Advance Corp SAB de CV                                              | CUSIP: 68560EAD0<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $199250.00    | 0.16%             | 2035-05-13      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA                                           | Peru Government Bond                                                      | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |   4000000 | PA      | $1254922.14   | 0.99%             | 2035-08-12      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Raising Canes Restaurants LLC                                | RAISING CANE'S RESTAURAN                                                  | CUSIP: 75101XAQ0<br>LEI: 254900V6ADXFWHYOED66 | Long             | LON              | CORP              | US        |    500000 | PA      | $499895.00    | 0.39%             | 2032-10-25      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                                         | Fiesta Purchaser Inc                                                      | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $269642.14    | 0.21%             | 2032-09-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                                         | Kaiser Aluminum Corp                                                      | CUSIP: 483007AM2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $299278.23    | 0.24%             | 2034-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VRTX Trust                                                   | VRTX Trust 2025-HQ                                                        | CUSIP: 91835XAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $406842.72    | 0.32%             | 2042-08-05      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust                               | SWCH Commercial Mortgage Trust 2025-DATA                                  | CUSIP: 78489CAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    275000 | PA      | $274489.35    | 0.22%             | 2042-02-15      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| BOPARAN FINANCE PLC                                          | Boparan Finance PLC                                                       | CUSIP: 000000000<br>LEI: 213800GQSQIOBR3DHN70 | Long             | DBT              | CORP              | GB        |    150000 | PA      | $209624.59    | 0.16%             | 2029-11-07      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                        | Guatemala Government Bond                                                 | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    250000 | PA      | $269750.00    | 0.21%             | 2037-02-06      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | USD/HUF FORWARD                                                           | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2169.24     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Juniper Valley Park CLO, Ltd                                 | Juniper Valley Park CLO Ltd                                               | CUSIP: 48206KBA3<br>LEI: 213800ACSV8GAJ4CCO70 | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $250000.00    | 0.20%             | 2036-07-20      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| TDF INFRASTRUCTURE SAS                                       | TDF Infrastructure SASU                                                   | CUSIP: 000000000<br>LEI: 969500BWNQ1B0PI06I59 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $353450.18    | 0.28%             | 2031-10-23      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R04                              | CUSIP: 20753YAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $220425.92    | 0.17%             | 2042-03-25      | Floating      | 13.68%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                        | Sri Lanka Government International Bond                                   | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    225000 | PA      | $208405.22    | 0.16%             | 2038-02-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                               | BRAVO Residential Funding Trust 2025-NQM7                                 | CUSIP: 10570TAP0<br>LEI: 254900I1LYOO3G3UAT10 | Long             | ABS-MBS          | CORP              | US        |    555734 | PA      | $560163.24    | 0.44%             | 2065-07-25      | Variable      | 5.46%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked N                               | Ally Bank Auto Credit-Linked Notes Series 2024-B                          | CUSIP: 02007G4E0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    410259 | PA      | $411915.05    | 0.32%             | 2032-09-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding, LLC                                   | Driven Brands Funding LLC                                                 | CUSIP: 26209XAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    234148 | PA      | $221020.46    | 0.17%             | 2051-10-20      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                                  | Ivory Coast Government International Bond                                 | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    225000 | PA      | $237865.29    | 0.19%             | 2036-04-01      | Fixed         | 8.07%                 | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                                         | Republic of Uzbekistan International Bond                                 | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |    375000 | PA      | $450221.29    | 0.35%             | 2029-02-25      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                           | META PLATFORMS INC                                                        | CUSIP: 30303M8X3<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    225000 | PA      | $223210.93    | 0.18%             | 2045-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US 10YR ULTRA                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        32 | NC      | $-18861.17    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| PRIME HEALTHCARE SERVICE                                     | Prime Healthcare Services Inc                                             | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    425000 | PA      | $447480.38    | 0.35%             | 2029-09-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                      | Mexican Bonos                                                             | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |  43310000 | PA      | $2199109.83   | 1.73%             | 2034-11-23      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| Oak Street Investment Grade Ne                               | Oak Street Investment Grade Net Lease Fund Series 2020-1                  | CUSIP: 67181DAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    495208 | PA      | $426019.85    | 0.33%             | 2050-11-20      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| DURST Commercial Mortgage Trus                               | Durst Commercial Mortgage Trust 2025-151                                  | CUSIP: 266895AE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    325000 | PA      | $331800.92    | 0.26%             | 2042-08-10      | Variable      | 5.82%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                                         | Alpha Generation LLC                                                      | CUSIP: 02073LAC5<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126538.89    | 0.10%             | 2034-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                                        | Argentine Republic Government International Bond                          | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    450000 | PA      | $316350.00    | 0.25%             | 2035-07-09      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2019-R06                              | CUSIP: 20754JAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    254193 | PA      | $259776.97    | 0.20%             | 2039-09-25      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE                                     | KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc     | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $471716.49    | 0.37%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2025-NQM7 Trust                                                       | CUSIP: 67121DAA2<br>LEI: 2549008GB179CC65SK60 | Long             | ABS-MBS          | CORP              | US        |    330359 | PA      | $333614.13    | 0.26%             | 2055-05-25      | Variable      | 5.56%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                              | SBA Tower Trust                                                           | CUSIP: 78403DAZ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $460915.02    | 0.36%             | 2028-01-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                     | USD/CAD FORWARD                                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1771.28     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/JPY FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-188829.88   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| Life Financial Services Trust                                | Life 2022-BMR Mortgage Trust                                              | CUSIP: 53218DAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375000 | PA      | $363261.34    | 0.29%             | 2039-05-15      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| JUNIPER RECEIVABLES 2023-1 DAC                               | JUNIPER RECEIVABLES 2023-1 DAC                                            | CUSIP: 481941102<br>LEI: 635400VPHEPHO9HXX694 | Long             | EC               | CORP              | IE        |        10 | NS      | $219502.13    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                              | IHS Holding Ltd                                                           | CUSIP: 44963HAD7<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $208888.12    | 0.16%             | 2031-11-29      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Buckhorn Park CLO, Ltd.                                      | Buckhorn Park CLO Ltd                                                     | CUSIP: 118382BA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500205.00    | 0.39%             | 2034-07-18      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                                         | Republic of Uzbekistan International Bond                                 | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |    250000 | PA      | $271614.76    | 0.21%             | 2032-02-28      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                 | Broadcom Inc                                                              | CUSIP: 11135FCW9<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174716.08    | 0.14%             | 2030-10-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                | TRANSDIGM INC                                                             | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    198492 | PA      | $198985.72    | 0.16%             | 2031-02-28      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                        | Toronto-Dominion Bank/The                                                 | CUSIP: 89115KAB6<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $102013.27    | 0.08%             | 2030-06-03      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| CURRENTA GROUP HOLDINGS                                      | Currenta Group Holdings Sarl                                              | CUSIP: 000000000<br>LEI: 222100SF79KCJKYUPE47 | Long             | DBT              | CORP              | LU        |    150000 | PA      | $176099.76    | 0.14%             | 2030-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Trust 2025-VLT6                                                        | CUSIP: 12433KAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    425000 | PA      | $425777.96    | 0.33%             | 2042-03-15      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | AUD/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $816.77       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| OPAL BIDCO SAS                                               | Opal Bidco SAS                                                            | CUSIP: 000000000<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $299312.05    | 0.24%             | 2032-03-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                                        | QXO Building Products Inc                                                 | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    225000 | PA      | $233494.43    | 0.18%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Fannie Mae Connecticut Avenue Securities                                  | CUSIP: 30711XCR3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |     49278 | PA      | $51580.66     | 0.04%             | 2028-10-25      | Floating      | 16.05%                | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                      | Goldman Sachs Group Inc/The                                               | CUSIP: 38141GZM9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    150000 | PA      | $137667.65    | 0.11%             | 2033-02-24      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| NOVO BANCO SA                                                | Novo Banco SA                                                             | CUSIP: 000000000<br>LEI: 5493009W2E2YDCXY6S81 | Long             | DBT              | CORP              | PT        |    200000 | PA      | $269717.43    | 0.21%             | 2033-12-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Contego CLO DAC                                              | Contego CLO IV DAC                                                        | CUSIP: 000000000<br>LEI: 635400H7QVHLSOZWVU92 | Long             | ABS-CBDO         | CORP              | IE        |   1425000 | PA      | $1631531.18   | 1.28%             | 2030-01-23      | Floating      | 3.34%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                           | META PLATFORMS INC                                                        | CUSIP: 30303M8Y1<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    190000 | PA      | $188583.05    | 0.15%             | 2065-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BDS Ltd                                                      | BDS 2025-FL14 LLC                                                         | CUSIP: 072921AL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    130000 | PA      | $126822.96    | 0.10%             | 2042-10-17      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2023-HQA3                                   | CUSIP: 35564K3G2<br>LEI: 529900ZTXRUUVE8G8W08 | Long             | ABS-MBS          | CORP              | US        |    108576 | PA      | $109205.06    | 0.09%             | 2043-11-25      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| BOOTS GROUP FINCO LP                                         | Boots Group Finco LP                                                      | CUSIP: 000000000<br>LEI: 254900YVLYOVF1PF1N93 | Long             | DBT              | CORP              | US        |    300000 | PA      | $359218.36    | 0.28%             | 2032-08-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | BRL/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1365.68     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND                                      | Hungary Government Bond                                                   | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        | 552500000 | PA      | $1421022.94   | 1.12%             | 2030-08-21      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                | CoreWeave Inc                                                             | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200835.00    | 0.16%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                            | IRON MOUNTAIN INC                                                         | CUSIP: 46284NAV1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | LON              | CORP              | US        |    197339 | PA      | $197729.68    | 0.16%             | 2031-01-31      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                                        | Blue Owl Capital Corp                                                     | CUSIP: 69121KAE4<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49554.34     | 0.04%             | 2026-07-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC                                             | VB-S1 Issuer LLC - VBTEL                                                  | CUSIP: 91823ABE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $203497.64    | 0.16%             | 2054-05-15      | Fixed         | 6.64%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                        | Sri Lanka Government International Bond                                   | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    200000 | PA      | $189000.00    | 0.15%             | 2030-01-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                                | DTE Energy Co                                                             | CUSIP: 233331BP1<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |    650000 | PA      | $648537.73    | 0.51%             | 2035-10-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| UK Logisitics                                                | UK Logistics 2025-2 DAC                                                   | CUSIP: 000000000<br>LEI: 635400CRV6HKMHJF8S64 | Long             | ABS-MBS          | CORP              | IE        |    300000 | PA      | $394577.89    | 0.31%             | 2035-08-17      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| VTR Commercial Mortgage Trust                                | VTR Commercial Mortgage Trust 2025-STEM                                   | CUSIP: 92890YAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    275000 | PA      | $276636.83    | 0.22%             | 2039-10-13      | Variable      | 6.71%                 | No            |                  2 | On Loan: No      |
| CORPORACION INMOBILIARIA                                     | Corp Inmobiliaria Vesta SAB de CV                                         | CUSIP: 21989DAB8<br>LEI: 4469000001BIRIFZJ959 | Long             | DBT              | CORP              | MX        |    450000 | PA      | $456862.50    | 0.36%             | 2033-01-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                     | USD/GBP FORWARD                                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $66563.11     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| American Airlines Inc                                        | AADVANTAGELOYALTYIPLTD                                                    | CUSIP: 02376CBT1<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |    278800 | PA      | $280193.50    | 0.22%             | 2032-05-28      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| Payden Cash Reserves Money Market Fund                       | Payden Cash Reserves Money Market Fund                                    | CUSIP: 704329598<br>LEI: 549300SI0EB26HO5RT16 | Long             | STIV             | RF                | US        |   3298694 | NS      | $3298694.22   | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| BX Trust                                                     | BX Trust 2025-VLT7                                                        | CUSIP: 123913AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $301615.38    | 0.24%             | 2044-07-15      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| Beechwood Park CLO Ltd.                                      | Beechwood Park CLO Ltd                                                    | CUSIP: 07355TAU6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001725.00   | 0.79%             | 2035-01-17      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| BANC CREDITO INVERSIONES                                     | Banco de Credito e Inversiones SA                                         | CUSIP: 05890MAC7<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $215238.00    | 0.17%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                     | Capital One Financial Corp                                                | CUSIP: 14040HDJ1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104252.77    | 0.08%             | 2036-01-30      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                                      | Surgery Center Holdings Inc                                               | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    350000 | PA      | $360556.70    | 0.28%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BUBBLES BIDCO SPA                                            | Bubbles Bidco SPA                                                         | CUSIP: 000000000<br>LEI: 815600073942740CEB24 | Long             | DBT              | CORP              | IT        |    250000 | PA      | $297875.73    | 0.23%             | 2031-09-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                          | Petroleos Mexicanos                                                       | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    100000 | PA      | $115310.97    | 0.09%             | 2025-11-24      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Leia Finco US LLC                                            | LEIA FINCO US LLC                                                         | CUSIP: 52526CAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    124375 | PA      | $124802.85    | 0.10%             | 2031-10-09      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | EUR/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $22891.42     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| DURST Commercial Mortgage Trus                               | Durst Commercial Mortgage Trust 2025-151                                  | CUSIP: 266895AG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $412505.76    | 0.32%             | 2042-08-10      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| FERRELLGAS LP/FERRELLGAS                                     | Ferrellgas LP / Ferrellgas Finance Corp                                   | CUSIP: 315292AU6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $176733.84    | 0.14%             | 2031-01-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                        | Quikrete Holdings Inc                                                     | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    175000 | PA      | $182253.40    | 0.14%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                       | General Motors Financial Co Inc                                           | CUSIP: 37045XEZ5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152221.92    | 0.12%             | 2029-10-06      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| LIBERTY COSTA RICA SR SF                                     | Liberty Costa Rica Senior Secured Finance                                 | CUSIP: 000000000<br>LEI: 549300W6O2PHTPCYQ751 | Long             | DBT              | CORP              | KY        |    250000 | PA      | $264656.25    | 0.21%             | 2031-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                     | Republic of South Africa Government Bond                                  | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |  16775000 | PA      | $969772.70    | 0.76%             | 2035-02-28      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Series 2025-R01                             | CUSIP: 20755JAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    650000 | PA      | $651443.98    | 0.51%             | 2045-01-25      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                      | Frontier Communications Holdings LLC                                      | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $199880.86    | 0.16%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Fannie Mae Connecticut Avenue Securities                                  | CUSIP: 30711XDB7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |     97996 | PA      | $103807.98    | 0.08%             | 2029-01-25      | Floating      | 14.55%                | No            |                  2 | On Loan: No      |
| MINERVA LUXEMBOURG SA                                        | Minerva Luxembourg SA                                                     | CUSIP: 000000000<br>LEI: 222100NM3G3RCPGZ2Z17 | Long             | DBT              | CORP              | LU        |    400000 | PA      | $437923.36    | 0.34%             | 2033-09-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ICE FUTURES EUROPE                                           | LONG GILT                                                                 | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              | CORP              | GB        |        -2 | NC      | $-8018.61     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Diamond Infrastructure Funding                               | Diamond Infrastructure Funding LLC                                        | CUSIP: 25265LAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $145206.36    | 0.11%             | 2049-04-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| VIPER ENERGY PARTNERS LL                                     | Viper Energy Partners LLC                                                 | CUSIP: 92764MAA2<br>LEI: 54930010ZZ02MRGRI973 | Long             | DBT              | CORP              | US        |    350000 | PA      | $353316.25    | 0.28%             | 2030-08-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                        | Wells Fargo & Co                                                          | CUSIP: 95000U3W1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    230000 | PA      | $237246.85    | 0.19%             | 2031-04-23      | Fixed         | 5.15%                 | No            |                  2 | On Loan: —       |
| Greystone Commercial Real Esta                               | Greystone CRE Notes 2025 HC-4 LLC                                         | CUSIP: 39809NAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    400000 | PA      | $400300.48    | 0.31%             | 2042-10-15      | Floating      | 5.93%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                               | ARES1 2024-IND2                                                           | CUSIP: 04021EAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    320000 | PA      | $320608.51    | 0.25%             | 2034-10-15      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| SUMITOM MITSUI TRST                                          | Sumitomo Mitsui Trust Group Inc                                           | CUSIP: 86566AAA0<br>LEI: 353800P843RLCDBLNT17 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $203376.49    | 0.16%             | 2036-09-11      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                          | COMM 2025-SBX Mortgage Trust                                              | CUSIP: 20047UAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $553243.79    | 0.43%             | 2041-08-10      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| Alpha Generation LLC                                         | ALPHA GENERATION LLC                                                      | CUSIP: 02072UAC6<br>LEI: 254900K5V62L4YGVKF49 | Long             | LON              | CORP              | US        |    321750 | PA      | $322517.37    | 0.25%             | 2031-09-30      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2025-R02                              | CUSIP: 20754TAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    387018 | PA      | $387953.65    | 0.30%             | 2045-02-25      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2025-NQM5 Trust                                                       | CUSIP: 67121EAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    355617 | PA      | $357146.54    | 0.28%             | 2065-03-25      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                            | EURO-BOBL                                                                 | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -22 | NC      | $-13236.52    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| COLT Funding LLC                                             | COLT 2025-8 Mortgage Loan Trust                                           | CUSIP: 19689DAA7<br>LEI: 2138009IZ4NQZAKAEN75 | Long             | ABS-MBS          | CORP              | US        |    244530 | PA      | $246900.33    | 0.19%             | 2070-08-25      | Variable      | 5.48%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US 2YR NOTE (CBT)                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -88 | NC      | $26153.10     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                             | S&P500 EMINI                                                              | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |         6 | NC      | $24450.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                              | CDS CDX.NA.HY.45.V1                                                       | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $203364.09    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US LONG BOND(CBT)                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -29 | NC      | $-46114.23    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                              | ENERGY SELECT SECTOR SPDR FUND                                            | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       335 | NC      | $4020.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINICAN REPUBLIC                                           | Dominican Republic International Bond                                     | CUSIP: 25714PFF0<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    350000 | PA      | $349720.00    | 0.27%             | 2035-10-28      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SAGAX AB                                                     | Sagax AB                                                                  | CUSIP: 000000000<br>LEI: 549300LJX28T6OM8DT95 | Long             | DBT              | CORP              | SE        |    200000 | PA      | $240992.19    | 0.19%             | 2030-05-29      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| META PLATFORMS INC                                           | META PLATFORMS INC                                                        | CUSIP: 30303MAE2<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    240000 | PA      | $238394.93    | 0.19%             | 2055-11-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Commercial Real E                               | Arbor Realty Commercial Real Estate Notes 2025-FL1 LLC                    | CUSIP: 03881KAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    400000 | PA      | $400413.28    | 0.31%             | 2043-01-20      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                         | Cross 2025-H7 Mortgage Trust                                              | CUSIP: 22757JAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    491670 | PA      | $490716.14    | 0.39%             | 2070-09-25      | Variable      | 5.29%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT                                        | American Homes 4 Rent LP                                                  | CUSIP: 02666TAK3<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127405.45    | 0.10%             | 2030-06-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Collateralized Lo                               | Arbor Realty Commercial Real Estate Notes 2021-FL4 Ltd                    | CUSIP: 03880RAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    350000 | PA      | $349527.01    | 0.27%             | 2036-11-15      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                       | Marriott International Inc/MD                                             | CUSIP: 571903BW2<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174609.79    | 0.14%             | 2031-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2024-HQA1                                   | CUSIP: 35564NCA9<br>LEI: 529900PGKDI4ZEXFQ523 | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $354124.82    | 0.28%             | 2044-03-25      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | NOK/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-8019.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Commercial Mortgage Trust 2025-BCAT                                    | CUSIP: 12433HAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    311443 | PA      | $313820.18    | 0.25%             | 2042-08-15      | Floating      | 6.68%                 | No            |                  2 | On Loan: No      |
| EDGE FINCO PLC                                               | Edge Finco PLC                                                            | CUSIP: 000000000<br>LEI: 648835NI8LJE5190NT73 | Long             | DBT              | CORP              | GB        |    150000 | PA      | $208952.67    | 0.16%             | 2031-08-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables                                | Exeter Automobile Receivables Trust 2024-5                                | CUSIP: 30165BAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    450000 | PA      | $450781.16    | 0.35%             | 2031-02-18      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R03                              | CUSIP: 20753XAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $221545.76    | 0.17%             | 2042-03-25      | Floating      | 14.03%                | No            |                  2 | On Loan: No      |
| OCEANICA LUX                                                 | Oceanica Lux                                                              | CUSIP: 000000000<br>LEI: 635400VU48WVABC1TO64 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $198435.77    | 0.16%             | 2029-10-02      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2023-NQM4 Trust                                                       | CUSIP: 67448GAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $402217.88    | 0.32%             | 2063-03-25      | Variable      | 7.09%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                  | Extended Stay America Trust 2025-ESH                                      | CUSIP: 30227TAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375000 | PA      | $378546.15    | 0.30%             | 2042-10-15      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Truist Insurance Holdings, LLC                               | TRUIST INSURANCE HOLDING                                                  | CUSIP: 89788VAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    178947 | PA      | $181967.11    | 0.14%             | 2032-05-06      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                               | Carlyle Global Market Strategies CLO 2016-1 Ltd                           | CUSIP: 14312HBE5<br>LEI: 549300N3CJKPCWZ7KX23 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000806.00   | 0.79%             | 2034-04-20      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Diamond Infrastructure Funding                               | Diamond Infrastructure Funding LLC                                        | CUSIP: 25265LAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $482195.00    | 0.38%             | 2049-04-15      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                     | CAD/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $8704.63      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-HQA3                                   | CUSIP: 35564KKK4<br>LEI: 5493000ISHRHX47NOH65 | Long             | ABS-MBS          | CORP              | US        |   1075000 | PA      | $1093338.21   | 0.86%             | 2041-09-25      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC                                             | VB-S1 Issuer LLC - VBTEL                                                  | CUSIP: 91823ABA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $292187.52    | 0.23%             | 2052-02-15      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl                               | Santander Drive Auto Receivables Trust 2023-S1                            | CUSIP: 80286QAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    326741 | PA      | $326570.81    | 0.26%             | 2028-04-18      | Fixed         | 10.40%                | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST 2024-S2               | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2024-S2                            | CUSIP: 80287MAD9<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        20 | NS      | $371858.88    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| OVH GROUPE SAS                                               | OVH Groupe SA                                                             | CUSIP: 000000000<br>LEI: 9695001J8OSOVX4TP939 | Long             | DBT              | CORP              | FR        |    275000 | PA      | $321099.96    | 0.25%             | 2031-02-05      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC                                      | Stagwell Global LLC                                                       | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |    425000 | PA      | $405348.89    | 0.32%             | 2029-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SURINAME INT                                     | SURINAME GOVERNMENT INTERNATIONAL BOND                                    | CUSIP: 86886PAE2<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |    200000 | PA      | $201450.00    | 0.16%             | 2030-11-06      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga                               | MF1 2024-FL16                                                             | CUSIP: 55287EAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    525000 | PA      | $526306.41    | 0.41%             | 2039-11-18      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-DNA2                                   | CUSIP: 35564KSJ9<br>LEI: 5493000ISA3AUOXQEF68 | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $365473.15    | 0.29%             | 2042-02-25      | Floating      | 8.93%                 | No            |                  2 | On Loan: No      |
| EOG RESOURCES INC                                            | EOG Resources Inc                                                         | CUSIP: 26875PAZ4<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    175000 | PA      | $180231.53    | 0.14%             | 2036-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US ULTRA BOND CBT                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -38 | NC      | $-103294.31   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| MPLX LP                                                      | MPLX LP                                                                   | CUSIP: 55336VCC2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251171.95    | 0.20%             | 2035-09-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| KREF 2022-Fl3 Ltd                                            | KREF 2022-FL3 Ltd                                                         | CUSIP: 48275EAA4<br>LEI: 549300DG0FGL1EU1CT79 | Long             | ABS-CBDO         | CORP              | KY        |    219160 | PA      | $219491.12    | 0.17%             | 2039-02-17      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                           | Dominican Republic International Bond                                     | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    275000 | PA      | $279345.00    | 0.22%             | 2027-01-25      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                        | Freedom Mortgage Holdings LLC                                             | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    130000 | PA      | $138355.88    | 0.11%             | 2031-05-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Oak Hill European Credit Partn                               | OAK Hill European Credit Partners V Designated Activity Co                | CUSIP: 000000000<br>LEI: 635400RBBBEHFZ8TOH13 | Long             | ABS-CBDO         | CORP              | IE        |    450000 | PA      | $518364.17    | 0.41%             | 2035-01-21      | Floating      | 2.99%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2024-DNA1                                   | CUSIP: 35564NBA0<br>LEI: 529900N6M839KA246662 | Long             | ABS-MBS          | CORP              | US        |    625000 | PA      | $632238.31    | 0.50%             | 2044-02-25      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| AREIT CRE Trust                                              | AREIT 2025-CRE10 Ltd                                                      | CUSIP: 00193DAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $299843.79    | 0.24%             | 2030-01-17      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-HQA3                                   | CUSIP: 35564KKL2<br>LEI: 5493000ISHRHX47NOH65 | Long             | ABS-MBS          | CORP              | US        |    425000 | PA      | $440828.19    | 0.35%             | 2041-09-25      | Floating      | 10.43%                | No            |                  2 | On Loan: No      |
| UK Logisitics                                                | UK Logistics 2025-2 DAC                                                   | CUSIP: 000000000<br>LEI: 635400CRV6HKMHJF8S64 | Long             | ABS-MBS          | CORP              | IE        |    275000 | PA      | $361857.96    | 0.28%             | 2035-08-17      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| DIG INTL FIN/DIFL US LLC                                     | Digicel International Finance Ltd / Difl US LLC                           | CUSIP: 25381MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    200000 | PA      | $199287.10    | 0.16%             | 2032-08-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/GBP FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-120480.80   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                                     | Standard Building Solutions Inc                                           | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    300000 | PA      | $306191.40    | 0.24%             | 2033-08-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VTR Commercial Mortgage Trust                                | VTR Commercial Mortgage Trust 2025-STEM                                   | CUSIP: 92890YAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $351807.89    | 0.28%             | 2039-10-13      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Transdigm                                                    | TRANSDIGM GROUP INC                                                       | CUSIP: 89364MCE2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    200000 | PA      | $200294.00    | 0.16%             | 2032-08-13      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Capital Automotive Reit                                      | CARS-DB4 LP                                                               | CUSIP: 12510HAH3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $194985.12    | 0.15%             | 2050-02-15      | Fixed         | 4.52%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                                               | Apidos CLO XLVI Ltd                                                       | CUSIP: 03770RAS1<br>LEI: 254900XSALC4GJ58ZP29 | Long             | ABS-CBDO         | CORP              | JE        |    800000 | PA      | $800000.00    | 0.63%             | 2038-10-24      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| JDAC 0 08/15/29                                              | JDAC 0 08/15/29                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $169619.15    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO DE CREDITO DEL PER                                     | Banco de Credito del Peru S.A.                                            | CUSIP: 05971U2K2<br>LEI: 549300EQYQ8SCQZ4BY14 | Long             | DBT              | CORP              | PE        |    700000 | PA      | $704578.00    | 0.55%             | 2037-01-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                              | Madison IAQ LLC                                                           | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    250000 | PA      | $245194.03    | 0.19%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FS Rialto Issuer Ltd                                         | FS Rialto 2025-FL10 Issuer LLC                                            | CUSIP: 30340KAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    600000 | PA      | $600034.50    | 0.47%             | 2042-08-19      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| COSTA RICA GOVERNMENT                                        | Costa Rica Government International Bond                                  | CUSIP: 000000000<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |    300000 | PA      | $329550.00    | 0.26%             | 2045-03-12      | Fixed         | 7.16%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                             | 3 MONTH SOFR                                                              | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       114 | NC      | $8879.75      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF SURINAME INT                                     | SURINAME GOVERNMENT INTERNATIONAL BOND                                    | CUSIP: 86886PAF9<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |    200000 | PA      | $206250.00    | 0.16%             | 2035-11-06      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                   | BFLD Commercial Mortgage Trust 2025-660F                                  | CUSIP: 05556QAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    275000 | PA      | $276286.84    | 0.22%             | 2042-11-15      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding, LLC                                   | Driven Brands Funding LLC                                                 | CUSIP: 26209XAK7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $398891.60    | 0.31%             | 2055-10-20      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| GALAXY BIDCO LTD                                             | Galaxy Bidco Ltd                                                          | CUSIP: 000000000<br>LEI: 2138006O8YW3QCHKDY76 | Long             | DBT              | CORP              | GB        |    125000 | PA      | $171655.50    | 0.13%             | 2029-12-19      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                       | American Honda Finance Corp                                               | CUSIP: 02665WGL9<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    325000 | PA      | $325886.38    | 0.26%             | 2030-09-04      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R09                              | CUSIP: 20753DAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $532370.80    | 0.42%             | 2042-09-25      | Floating      | 8.93%                 | No            |                  2 | On Loan: No      |
| FIBRA SOMA TRUST F/6185                                      | Fibra Soma Trust F/6185                                                   | CUSIP: 000000000<br>LEI: 549300PN33H8IMG2PD83 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $174815.64    | 0.14%             | 2031-07-22      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| Cologix Data Centers Issuer LL                               | Cologix Canadian Issuer LP                                                | CUSIP: 19521DAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |    400000 | PA      | $279701.97    | 0.22%             | 2052-01-25      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX 2025-BIO3 Mortgage Trust                                               | CUSIP: 123911AE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $565905.45    | 0.44%             | 2042-02-10      | Fixed         | 6.56%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                               | BRAVO Residential Funding Trust 2024-NQM7                                 | CUSIP: 105698AF1<br>LEI: 254900T3YTF92WA96N66 | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $507087.60    | 0.40%             | 2064-10-27      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-19

**Name of Applicant:** PAYDEN & RYGEL INVESTMENT GROUP

**Signature:** Sandi Brents

**Name of Signer:** Sandi Brents

**Title:** Compliance Officer