# EDGAR Filing Document

**Accession Number:** 0001318342
**File Stem:** 0001193125-25-290847
**Filing Date:** 2025-11
**Character Count:** 255411
**Document Hash:** 293b2c5e8950ddb1c57466b46f437123
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-290847.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001193125-25-290847

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Investment Managers Series Trust
- **CENTRAL INDEX KEY:** 0001318342

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21719
- **FILM NUMBER:** 251505236

**BUSINESS ADDRESS:**
- **STREET 1:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
- **BUSINESS PHONE:** 626-914-4141

**MAIL ADDRESS:**
- **STREET 1:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Claymore Trust
- **DATE OF NAME CHANGE:** 20050603

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Claymore Equity Trust
- **DATE OF NAME CHANGE:** 20050218

## Series and Classes Contracts Data

### AAM/Insight Select Income Fund (Series ID: S000040061)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000124376 | Class A      | CPUAX           |
| C000124377 | Class C      | CPUCX           |
| C000124378 | Class I      | CPUIX           |
| C000195054 | Class Y      | CPUYX           |

## Nport-Ex

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **ASSET-BACKED SECURITIES — 12.3%** |  |
| 239205 | AASET 2025-1<br> Series 2025-1A, Class A, 5.94%, 2/16/2050<sup>2</sup> | $246415 |
| 232341 | Ally Bank Auto Credit-Linked Notes<br> Series 2025-A, Class C, 4.84%, 6/15/2033<sup>2,3</sup> | 233044 |
| 14866 | Amur Equipment Finance Receivables LLC<br> Series 2022-2A, Class A2, 5.30%, 6/21/2028<sup>2,3</sup> | 14902 |
| 160449 | Aqua Finance Issuer Trust<br> Series 2025-B, Class A, 4.79%, 5/17/2051<sup>2,3</sup> | 161048 |
| 31306 | Auxilior Term Funding LLC<br> Series 2023-1A, Class A2, 6.18%, 12/15/2028<sup>2,3</sup> | 31535 |
| 282000 | Avis Budget Rental Car Funding AESOP LLC<br> Series 2025-2A, Class A, 5.12%, 8/20/2031<sup>2,3</sup> | 289569 |
| 1000000 | Bain Capital Credit CLO Ltd.<br> Series 2020-3A, Class A1RR, 5.53% (3-Month Term SOFR+121 basis points), 10/23/2034<sup>2,3,4</sup> | 1001679 |
| 235889 | Blackbird Capital Aircraft<br> Series 2021-1A, Class B, 3.45%, 7/15/2046<sup>2,3</sup> | 224872 |
| 665000 | BlackRock Shasta CLO XIII LLC<br> Series 2024-1A, Class A1, 6.17% (3-Month Term SOFR+185 basis points), 7/15/2036<sup>2,3,4</sup> | 665835 |
| 450000 | Centersquare Issuer LLC<br> Series 2025-1A, Class A2, 5.50%, 3/26/2055<sup>2,3</sup> | 444280 |
| 850000 | Cerberus Loan Funding XLIX LLC<br> Series 2024-5A, Class A, 5.67% (3-Month Term SOFR+135 basis points), 1/15/2034<sup>2,3,4</sup> | 847674 |
| 43065 | Chesapeake Funding II LLC<br> Series 2023-2A, Class A1, 6.16%, 10/15/2035<sup>2,3</sup> | 43680 |
| 1000000 | Churchill MMSLF CLO-IV Ltd.<br> Series 2024-3A, Class A, 5.93% (3-Month Term SOFR+160 basis points), 10/22/2035<sup>2,3,4</sup> | 997882 |
| 316740 | CLI Funding IX LLC<br> Series 2025-1A, Class A, 5.35%, 6/20/2050<sup>2,3</sup> | 320792 |
| 109000 | COMM Mortgage Trust<br> Series 2020-CX, Class D, 2.77%, 11/10/2046<sup>2,3,5</sup> | 89513 |
| 249230 | Commonbond Student Loan Trust<br> Series 2019-AGS, Class A1, 2.54%, 1/25/2047<sup>2,3</sup> | 228105 |
| 170034 | Cross Mortgage Trust<br> Series 2024-H2, Class A2, 6.42%, 4/25/2069<sup>2,3,6</sup> | 171783 |
| 503000 | CyrusOne Data Centers Issuer I LLC<br> Series 2025-1A, Class A2, 5.91%, 2/20/2050<sup>2,3</sup> | 515077 |
| 124487 | Daimler Trucks Retail Trust<br> Series 2023-1, Class A3, 5.90%, 3/15/2027<sup>3</sup> | 125178 |
| 598000 | DataBank Issuer<br> Series 2021-2A, Class A2, 2.40%, 10/25/2051<sup>2,3</sup> | 582543 |
| 647000 | DataBank Issuer II LLC<br> Series 2025-1A, Class A2, 5.18%, 9/27/2055<sup>2,3</sup> | 649244 |
| 598675 | DB Master Finance LLC<br> Series 2021-1A, Class A2I, 2.04%, 11/20/2051<sup>2,3</sup> | 583375 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **ASSET-BACKED SECURITIES (Continued)** |  |
|  | Domino's Pizza Master Issuer LLC |  |
| 525150 | &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I, 2.66%, 4/25/2051<sup>2,3</sup> | $496338 |
| 84000 | &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2II, 5.22%, 7/25/2055<sup>2,3</sup> | 84845 |
| 200129 | EnFin Residential Solar Receivables Trust<br> Series 2024-2A, Class A, 5.98%, 9/20/2055<sup>2,3</sup> | 191573 |
| 146128 | ENFIN Residential Solar Receivables Trust<br> Series 2024-1A, Class A, 6.65%, 2/20/2055<sup>2,3</sup> | 145590 |
| 545000 | Flexential Issuer<br> Series 2021-1A, Class A2, 3.25%, 11/27/2051<sup>2,3</sup> | 529083 |
|  | Ford Credit Auto Owner Trust |  |
| 370000 | &nbsp;&nbsp;&nbsp;Series 2022-C, Class B, 5.03%, 2/15/2028<sup>3</sup> | 372407 |
| 194000 | &nbsp;&nbsp;&nbsp;Series 2024-1, Class A, 4.87%, 8/15/2036<sup>2,3,6</sup> | 198622 |
| 1500000 | Fortress Credit Opportunities CLO Ltd.<br> Series 2017-9A, Class A1TR, 6.13% (3-Month Term SOFR+181 basis points), 10/15/2033<sup>2,3,4</sup> | 1501030 |
| 250000 | Golub Capital Partners CLO Ltd.<br> Series 2020-47A, Class CR, 6.72% (3-Month Term SOFR+240 basis points), 8/5/2037<sup>2,3,4</sup> | 250853 |
| 40034 | Hilton Grand Vacations Trust<br> Series 2023-1A, Class A, 5.72%, 1/25/2038<sup>2,3</sup> | 40847 |
|  | Huntington Bank Auto Credit-Linked Notes |  |
| 160004 | &nbsp;&nbsp;&nbsp;Series 2024-2, Class B1, 5.44%, 10/20/2032<sup>2,3</sup> | 161602 |
| 230472 | &nbsp;&nbsp;&nbsp;Series 2025-1, Class B, 4.96%, 3/21/2033<sup>2,3</sup> | 231905 |
| 550000 | Invesco U.S. CLO Ltd.<br> Series 2023-3A, Class AR, 5.63% (3-Month Term SOFR+131 basis points), 7/15/2038<sup>2,3,5</sup> | 551484 |
| 175568 | ITE Rail Fund Levered LP<br> Series 2021-1A, Class A, 2.25%, 2/28/20512,3 | 166352 |
| 473000 | IVY Hill Middle Market Credit Fund XII Ltd.<br> Series 12A, Class BRR, 6.33% (3-Month Term SOFR+200 basis points), 4/20/20372,3,5 | 471200 |
| 133000 | Jersey Mike's Funding<br> Series 2025-1A, Class A2, 5.61%, 8/16/2055<sup>2,3</sup> | 136003 |
| 158205 | Jersey Mike's Funding LLC<br> Series 2024-1A, Class A2, 5.64%, 2/15/2055<sup>2,3</sup> | 161249 |
| 155773 | JP Morgan Mortgage Trust Series<br> Series 2024-CES1, Class A2, 6.15%, 6/25/2054<sup>2,3,6</sup> | 157236 |
| 916765 | LCM 37 Ltd.<br> Series 37A, Class A1R, 5.38% (3-Month Term SOFR+106 basis points), 4/15/2034<sup>2,3,4</sup> | 915041 |
| 600000 | MCF CLO IX Ltd.<br> Series 2019-1A, Class A1RR, 6.32% (3-Month Term SOFR+200 basis points), 4/17/2036<sup>2,3,4</sup> | 601122 |
| 193893 | MetroNet Infrastructure Issuer LLC<br> Series 2025-2A, Class A2, 5.40%, 8/20/2055<sup>2,3</sup> | 196549 |
|  | MF1 Ltd. |  |
| 910500 | &nbsp;&nbsp;&nbsp;Series 2021-FL7, Class AS, 5.70% (1-Month Term SOFR+157 basis points), 10/16/2036<sup>2,3,4</sup> | 905352 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **ASSET-BACKED SECURITIES (Continued)** |  |
| 448000 | &nbsp;&nbsp;&nbsp;Series 2022-FL8, Class C, 6.33% (1-Month Term SOFR+220 basis points), 2/19/2037<sup>2,3,4</sup> | $445716 |
| 61328 | Navient Private Education Refi Loan Trust<br> Series 2021-A, Class A, 0.84%, 5/15/2069<sup>2,3</sup> | 56115 |
| 463000 | New Economy Assets Phase 1 Sponsor LLC<br> Series 2021-1, Class A1, 1.91%, 10/20/2061<sup>2,3</sup> | 386253 |
| 90956 | New Residential Mortgage Loan Trust<br> Series 2021-NQ2R, Class A1, 0.94%, 10/25/2058<sup>2,3,5</sup> | 89615 |
| 375670 | OBX Trust<br> Series 2025-NQM18, Class A1A, 5.06%, 9/25/2065<sup>2,3,6</sup> | 375898 |
| 147000 | Oscar U.S. Funding XVI LLC<br> Series 2024-1A, Class A3, 5.54%, 2/10/2028<sup>2,3</sup> | 148170 |
| 250000 | PK Alift Loan Funding 7 LP<br> Series 2025-2, Class A, 4.75%, 3/15/2043<sup>2</sup> | 250034 |
| 117710 | RCKT Mortgage Trust<br> Series 2024-CES2, Class A2, 6.39%, 4/25/2044<sup>2,3,5</sup> | 119389 |
| 1000000 | Regatta XXII Funding Ltd.<br> Series 2022-2A, Class AR, 5.58% (3-Month Term SOFR+125 basis points), 7/20/2035<sup>2,3,4</sup> | 1001500 |
|  | Retained Vantage Data Centers Issuer LLC |  |
| 582000 | &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2, 4.99%, 9/15/2049<sup>2,3</sup> | 583152 |
| 103000 | &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2A, 5.09%, 8/15/2050<sup>2,3</sup> | 103299 |
| 250000 | Santander Bank Auto Credit-Linked Notes Series<br> Series 2024-B, Class C, 5.14%, 1/18/2033<sup>2,3</sup> | 251120 |
| 113725 | Santander Drive Auto Receivables Trust<br> Series 2022-5, Class C, 4.74%, 10/16/2028<sup>3</sup> | 113827 |
| 962090 | Slam Ltd.<br> Series 2021-1A, Class A, 2.43%, 6/15/2046<sup>2,3</sup> | 918325 |
| 244982 | SLAM Ltd.<br> Series 2025-1A, Class A, 5.81%, 5/15/2050<sup>2</sup> | 252545 |
|  | SMB Private Education Loan Trust |  |
| 12532 | &nbsp;&nbsp;&nbsp;Series 2017-B, Class A2B, 5.01% (1-Month Term SOFR+86 basis points), 10/15/2035<sup>2,3,4</sup> | 12526 |
| 231005 | &nbsp;&nbsp;&nbsp;Series 2019-B, Class A2B, 5.26% (1-Month Term SOFR+111 basis points), 6/15/2037<sup>2,3,4</sup> | 231120 |
| 394848 | Taco Bell Funding LLC<br> Series 2025-1A, Class A2II, 5.05%, 8/25/2055<sup>2,3</sup> | 395847 |
| 49335 | Tesla Auto Lease Trust<br> Series 2023-B, Class A3, 6.13%, 9/21/2026<sup>2,3</sup> | 49421 |
| 360910 | TIF Funding II LLC<br> Series 2021-1A, Class A, 1.65%, 2/20/2046<sup>2,3</sup> | 329138 |
| 295538 | TIF Funding III LLC<br> Series 2024-1A, Class A, 5.48%, 4/20/2049<sup>2,3</sup> | 296516 |
| 250000 | U.S. Bank C&I Credit-Linked Notes<br> Series 2025-SUP2, Class B1, 4.82%, 9/25/2032<sup>2,3</sup> | 249690 |
| 950000 | Voya CLO Ltd.<br> Series 2019-1A, Class A1RR, 5.69% (3-Month Term SOFR+137 basis points), 10/15/2037<sup>2,3,4</sup> | 952968 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **ASSET-BACKED SECURITIES (Continued)** |  |
|  | Willis Engine Structured Trust |  |
| 87045 | &nbsp;&nbsp;&nbsp;Series 2018-A, Class A, 4.75%, 9/15/2043<sup>2,3,6</sup> | $86819 |
| 541664 | &nbsp;&nbsp;&nbsp;Series 2021-A, Class A, 3.10%, 5/15/2046<sup>2,3</sup> | 508705 |
| 704980 | Zayo Issuer LLC<br> Series 2025-2A, Class A2, 5.95%, 6/20/2055<sup>2,3</sup> | 725419 |
|  | **TOTAL ASSET-BACKED SECURITIES** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $26,088,668) | **25867435** |
|  | **COMMERCIAL MORTGAGE-BACKED SECURITIES — 0.9%** |  |
| 960000 | BANK5<br> Series 2024-5YR12, Class A2, 5.42%, 12/15/2057<sup>3</sup> | 993968 |
| 138102 | BRAVO Residential Funding Trust Series<br> Series 2025-NQM8, Class A1, 5.08%, 6/25/2065<sup>2,3,6</sup> | 138297 |
| 361611 | BX Commercial Mortgage Trust<br> Series 2024-AIR2, Class A, 5.65% (1-Month Term SOFR+149 basis points), 10/15/2041<sup>2,4</sup> | 362176 |
| 162000 | BXHPP Trust FILM<br> Series 2021-FILM, Class C, 5.37% (1-Month Term SOFR+122 basis points), 8/15/2036<sup>2,4</sup> | 151209 |
| 99416 | COLT Mortgage Loan Trust<br> Series 2023-3, Class A2, 7.43%, 9/25/2068<sup>2,3,6</sup> | 100808 |
| 138000 | Hudson Yards Mortgage Trust<br> Series 2025-SPRL, Class C, 6.15%, 1/13/2040<sup>2,5</sup> | 142948 |
|  | **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $1,867,708) | **1889406** |
|  | **CORPORATE BONDS — 82.4%** |  |
|  | **COMMUNICATIONS — 5.2%** |  |
| 105000 | Alphabet, Inc.<br> 5.25%, 5/15/2055<sup>3</sup> | 105246 |
|  | AT&T, Inc. |  |
| 750000 | &nbsp;&nbsp;&nbsp;4.75%, 5/15/2046<sup>3</sup> | 669057 |
| 1500000 | &nbsp;&nbsp;&nbsp;3.55%, 9/15/2055<sup>3</sup> | 1032777 |
|  | Charter Communications Operating LLC / Charter Communications Operating Capital |  |
| 1236000 | &nbsp;&nbsp;&nbsp;3.90%, 6/1/2052<sup>3</sup> | 836112 |
| 775000 | &nbsp;&nbsp;&nbsp;6.83%, 10/23/2055<sup>3</sup> | 789733 |
| 1045000 | Comcast Corp.<br> 3.45%, 2/1/2050<sup>3</sup> | 729976 |
| 600000 | Cox Enterprises, Inc.<br> 7.37%, 7/15/2027<sup>2</sup> | 625916 |
| 200000 | Iliad Holding SASU<br> 8.50%, 4/15/2031<sup>2,3,7</sup> | 214497 |
| 316000 | Match Group Holdings II LLC<br> 6.13%, 9/15/2033<sup>2,3</sup> | 318776 |
|  | Meta Platforms, Inc. |  |
| 335000 | &nbsp;&nbsp;&nbsp;4.45%, 8/15/2052<sup>3</sup> | 286807 |
| 556000 | &nbsp;&nbsp;&nbsp;5.40%, 8/15/2054<sup>3</sup> | 548682 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **COMMUNICATIONS (Continued)** |  |
| 595000 | NBN Co., Ltd.<br> 4.25%, 10/1/2029<sup>2,3,7</sup> | $594929 |
|  | Paramount Global |  |
| 419000 | &nbsp;&nbsp;&nbsp;4.20%, 5/19/2032<sup>3</sup> | 390331 |
| 83000 | &nbsp;&nbsp;&nbsp;6.87%, 4/30/2036 | 87937 |
| 640000 | &nbsp;&nbsp;&nbsp;5.85%, 9/1/2043<sup>3</sup> | 583179 |
| 530000 | Prosus N.V.<br> 4.99%, 1/19/2052<sup>2,3,7</sup> | 427721 |
| 503000 | Snap, Inc.<br> 6.88%, 3/1/2033<sup>2,3</sup> | 514116 |
| 489000 | Time Warner Cable LLC<br> 6.55%, 5/1/2037 | 508146 |
| 48000 | T-Mobile USA, Inc.<br> 4.95%, 3/15/2028<sup>3</sup> | 48927 |
|  | Verizon Communications, Inc. |  |
| 615000 | &nbsp;&nbsp;&nbsp;4.02%, 12/3/2029<sup>3</sup> | 610836 |
| 664000 | &nbsp;&nbsp;&nbsp;3.55%, 3/22/2051<sup>3</sup> | 486511 |
| 477000 | Vmed O2 UK Financing I PLC<br> 4.75%, 7/15/2031<sup>2,3,7</sup> | 448857 |
|  |  | **10859069** |
|  | **CONSUMER DISCRETIONARY — 9.0%** |  |
|  | Advance Auto Parts, Inc. |  |
| 180000 | &nbsp;&nbsp;&nbsp;7.00%, 8/1/2030<sup>2,3</sup> | 185303 |
| 210000 | &nbsp;&nbsp;&nbsp;7.37%, 8/1/2033<sup>2,3</sup> | 216682 |
| 155000 | Air Canada<br> 3.88%, 8/15/2026<sup>2,3,7</sup> | 153599 |
| 118008 | Air Canada Class A Pass-Through Trust<br> 5.25%, 10/1/2030<sup>2,7</sup> | 120687 |
|  | American Airlines Class AA Pass-Through Trust |  |
| 158455 | &nbsp;&nbsp;&nbsp;3.65%, 8/15/2030 | 153968 |
| 259017 | &nbsp;&nbsp;&nbsp;3.35%, 4/15/2031 | 249783 |
| 311496 | &nbsp;&nbsp;&nbsp;3.15%, 8/15/2033 | 291713 |
|  | American Airlines, Inc./AAdvantage Loyalty IP Ltd. |  |
| 87250 | &nbsp;&nbsp;&nbsp;5.50%, 4/20/2026<sup>2,7</sup> | 87265 |
| 161000 | &nbsp;&nbsp;&nbsp;5.75%, 4/20/2029<sup>2,7</sup> | 161614 |
| 130000 | American Axle & Manufacturing, Inc.<br> 6.37%, 10/15/2032<sup>2,3</sup> | 129722 |
| 425000 | Asbury Automotive Group, Inc.<br> 5.00%, 2/15/2032<sup>2,3</sup> | 408089 |
| 650000 | Avianca Midco 2 PLC<br> 9.62%, 2/14/2030<sup>2,3,7</sup> | 646555 |
| 82743 | British Airways Class A Pass-Through Trust<br> 4.25%, 11/15/2032<sup>2</sup> | 80665 |
| 418000 | Builders FirstSource, Inc.<br> 6.37%, 3/1/2034<sup>2,3</sup> | 430589 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **CONSUMER DISCRETIONARY (Continued)** |  |
|  | Carnival Corp. |  |
| 300000 | &nbsp;&nbsp;&nbsp;6.00%, 5/1/2029<sup>2,3,7</sup> | $304255 |
| 365000 | &nbsp;&nbsp;&nbsp;5.75%, 8/1/2032<sup>2,3,7</sup> | 371384 |
| 121000 | &nbsp;&nbsp;&nbsp;6.12%, 2/15/2033<sup>2,3,7</sup> | 124025 |
| 10250 | Delta Air Lines, Inc. / SkyMiles IP Ltd.<br> 4.50%, 10/20/2025<sup>2,7</sup> | 10246 |
|  | ERAC USA Finance LLC |  |
| 377000 | &nbsp;&nbsp;&nbsp;5.20%, 10/30/2034<sup>2,3</sup> | 389452 |
| 750000 | &nbsp;&nbsp;&nbsp;7.00%, 10/15/2037<sup>2</sup> | 874894 |
|  | Ford Motor Credit Co. LLC |  |
| 204000 | &nbsp;&nbsp;&nbsp;5.80%, 3/5/2027<sup>3</sup> | 206092 |
| 550000 | &nbsp;&nbsp;&nbsp;7.12%, 11/7/2033<sup>3</sup> | 588017 |
| 1360000 | General Motors Co.<br> 5.63%, 4/15/2030<sup>3</sup> | 1410419 |
|  | General Motors Financial Co., Inc. |  |
| 797000 | &nbsp;&nbsp;&nbsp;3.60%, 6/21/2030<sup>3</sup> | 759542 |
| 1213000 | &nbsp;&nbsp;&nbsp;2.35%, 1/8/2031<sup>3</sup> | 1074996 |
| 500000 | Goodyear Tire & Rubber Co.<br> 6.62%, 7/15/2030<sup>3</sup> | 507032 |
| 805000 | Home Depot, Inc.<br> 5.30%, 6/25/2054<sup>3</sup> | 787827 |
| 930000 | International Game Technology PLC<br> 5.25%, 1/15/2029<sup>2,3,7</sup> | 925920 |
| 687000 | Las Vegas Sands Corp.<br> 6.20%, 8/15/2034<sup>3</sup> | 718883 |
| 270000 | Light & Wonder International, Inc.<br> 6.25%, 10/1/2033<sup>2,3</sup> | 270459 |
| 525000 | Lithia Motors, Inc.<br> 5.50%, 10/1/2030<sup>2,3</sup> | 525241 |
| 1033000 | Lowe's Cos., Inc.<br> 4.50%, 10/15/2032<sup>3</sup> | 1024655 |
| 165000 | Macy's Retail Holdings LLC<br> 7.37%, 8/1/2033<sup>2,3</sup> | 172039 |
|  | NCL Corp. Ltd. |  |
| 584000 | &nbsp;&nbsp;&nbsp;6.25%, 3/1/2030<sup>2,3,7</sup> | 591143 |
| 273000 | &nbsp;&nbsp;&nbsp;5.88%, 1/15/2031<sup>2,3,7</sup> | 272900 |
| 500000 | Prime Security Services Borrower LLC / Prime Finance, Inc.<br> 3.38%, 8/31/2027<sup>2,3</sup> | 486057 |
| 735000 | Royal Caribbean Cruises Ltd.<br> 5.38%, 1/15/2036<sup>3,7</sup> | 739488 |
| 516000 | Stellantis Financial Services U.S. Corp.<br> 4.95%, 9/15/2028<sup>2,3</sup> | 515770 |
|  | United Airlines Class A Pass-Through Trust |  |
| 86294 | &nbsp;&nbsp;&nbsp;5.87%, 4/15/2029 | 88714 |
| 144611 | &nbsp;&nbsp;&nbsp;5.80%, 7/15/2037 | 149569 |
|  | United Airlines Class AA Pass-Through Trust |  |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **CONSUMER DISCRETIONARY (Continued)** |  |
| 133236 | &nbsp;&nbsp;&nbsp;4.15%, 2/25/2033 | $130023 |
| 460946 | &nbsp;&nbsp;&nbsp;2.70%, 11/1/2033 | 422737 |
| 120997 | United Airlines Class B Pass-Through Trust<br> 4.60%, 9/1/2027 | 120361 |
|  | United Airlines, Inc. |  |
| 64000 | &nbsp;&nbsp;&nbsp;4.38%, 4/15/2026<sup>2,3</sup> | 63810 |
| 273000 | &nbsp;&nbsp;&nbsp;4.63%, 4/15/2029<sup>2,3</sup> | 268854 |
| 355000 | Volkswagen Group of America Finance LLC<br> 6.45%, 11/16/2030<sup>2,3</sup> | 381375 |
| 400000 | Wynn Macau Ltd.<br> 5.63%, 8/26/2028<sup>2,3,7</sup> | 399620 |
|  |  | **18992033** |
|  | **CONSUMER STAPLES — 3.9%** |  |
| 152000 | Altria Group, Inc.<br> 5.95%, 2/14/2049<sup>3</sup> | 155269 |
| 635000 | Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc.<br> 4.70%, 2/1/2036<sup>3</sup> | 626678 |
|  | BAT Capital Corp. |  |
| 119000 | &nbsp;&nbsp;&nbsp;6.34%, 8/2/2030<sup>3</sup> | 128492 |
| 400000 | &nbsp;&nbsp;&nbsp;7.08%, 8/2/2043<sup>3</sup> | 451204 |
| 306000 | &nbsp;&nbsp;&nbsp;5.65%, 3/16/2052<sup>3</sup> | 292807 |
|  | Bimbo Bakeries USA, Inc. |  |
| 376000 | &nbsp;&nbsp;&nbsp;6.40%, 1/15/2034<sup>2,3</sup> | 409673 |
| 352000 | &nbsp;&nbsp;&nbsp;4.00%, 5/17/2051<sup>2,3</sup> | 266087 |
| 200000 | Diageo Investment Corp.<br> 5.63%, 4/15/2035<sup>3</sup> | 212333 |
| 515000 | Froneri Lux FinCo SARL<br> 6.00%, 8/1/2032<sup>2,3,7</sup> | 515618 |
| 179000 | HCA, Inc.<br> 5.60%, 4/1/2034<sup>3</sup> | 186050 |
| 574000 | J M Smucker Co.<br> 6.50%, 11/15/2053<sup>3</sup> | 633398 |
| 815000 | JBS USA Holding Lux Sarl / JBS USA Foods Group Holdings, Inc. / JBS USA Food Co.<br> 5.50%, 1/15/2036<sup>2,3</sup> | 832286 |
| 206000 | JBS USA LUX S.A. / JBS USA Food Co. / JBS USA Finance, Inc.<br> 3.63%, 1/15/2032<sup>3,7</sup> | 192128 |
| 251000 | Keurig Dr Pepper, Inc.<br> 4.50%, 11/15/2045<sup>3</sup> | 207237 |
| 151000 | Kroger Co.<br> 5.50%, 9/15/2054<sup>3</sup> | 147070 |
| 229000 | MARB BondCo PLC<br> 3.95%, 1/29/2031<sup>2,3,7</sup> | 209626 |
|  | Mars, Inc. |  |
| 855000 | &nbsp;&nbsp;&nbsp;5.20%, 3/1/2035<sup>2,3</sup> | 873947 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **CONSUMER STAPLES (Continued)** |  |
| 557000 | &nbsp;&nbsp;&nbsp;5.65%, 5/1/2045<sup>2,3</sup> | $564877 |
| 600000 | NBM U.S. Holdings, Inc.<br> 6.62%, 8/6/2029<sup>2,3</sup> | 607498 |
| 730000 | Philip Morris International, Inc.<br> 4.25%, 11/10/2044 | 628851 |
|  |  | **8141129** |
|  | **ENERGY — 9.7%** |  |
| 884000 | BP Capital Markets PLC<br> 6.13% (USD 5 Year Tsy+192 basis points)<sup>3,7,8,9</sup> | 915448 |
| 235000 | Cheniere Energy Partners LP<br> 5.55%, 10/30/2035<sup>2,3</sup> | 240113 |
| 1162000 | CITGO Petroleum Corp.<br> 8.37%, 1/15/2029<sup>2,3</sup> | 1207204 |
| 92000 | Columbia Pipelines Operating Co. LLC<br> 6.54%, 11/15/2053<sup>2,3</sup> | 98621 |
| 604000 | Coterra Energy, Inc.<br> 5.40%, 2/15/2035<sup>3</sup> | 608949 |
| 310000 | Diamondback Energy, Inc.<br> 5.40%, 4/18/2034<sup>3</sup> | 316582 |
|  | DT Midstream, Inc. |  |
| 358000 | &nbsp;&nbsp;&nbsp;4.30%, 4/15/2032<sup>2,3</sup> | 342485 |
| 245000 | &nbsp;&nbsp;&nbsp;5.80%, 12/15/2034<sup>2,3</sup> | 252505 |
|  | Enbridge, Inc. |  |
| 150000 | &nbsp;&nbsp;&nbsp;6.70%, 11/15/20533,7 | 167450 |
| 480000 | &nbsp;&nbsp;&nbsp;7.37% (USD 5 Year Tsy+312 basis points), 3/15/2055<sup>3,7,8</sup> | 507796 |
| 180000 | &nbsp;&nbsp;&nbsp;6.00% (3-Month Term SOFR+415 basis points), 1/15/2077<sup>3,7,10</sup> | 180540 |
|  | Energy Transfer LP |  |
| 275000 | &nbsp;&nbsp;&nbsp;5.40%, 10/1/2047<sup>3</sup> | 251525 |
| 500000 | &nbsp;&nbsp;&nbsp;6.25%, 4/15/2049<sup>3</sup> | 504546 |
| 108000 | &nbsp;&nbsp;&nbsp;5.95%, 5/15/2054<sup>3</sup> | 104540 |
| 241000 | Eni S.p.A.<br> 5.95%, 5/15/2054<sup>2,3,7</sup> | 240767 |
|  | Enterprise Products Operating LLC |  |
| 475000 | &nbsp;&nbsp;&nbsp;6.45%, 9/1/2040 | 529231 |
| 366000 | &nbsp;&nbsp;&nbsp;3.30%, 2/15/2053<sup>3</sup> | 249147 |
| 126000 | &nbsp;&nbsp;&nbsp;5.38% (3-Month Term SOFR+283 basis points), 2/15/2078<sup>3,10</sup> | 125126 |
| 129000 | EQT Corp.<br> 6.38%, 4/1/2029<sup>3</sup> | 133866 |
| 1000000 | Exxon Mobil Corp<br> 1.41%, 6/26/2039<sup>3</sup> | 855503 |
|  | Global Partners LP / GLP Finance Corp. |  |
| 68000 | &nbsp;&nbsp;&nbsp;6.87%, 1/15/2029<sup>3</sup> | 68593 |
| 518000 | &nbsp;&nbsp;&nbsp;8.25%, 1/15/2032<sup>2,3</sup> | 546333 |
| 170000 | &nbsp;&nbsp;&nbsp;7.12%, 7/1/2033<sup>2,3</sup> | 174247 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **ENERGY (Continued)** |  |
| 303000 | Harbour Energy PLC<br> 6.33%, 4/1/2035<sup>2,3,7</sup> | $310641 |
| 130000 | Hess Midstream Operations LP<br> 5.13%, 6/15/2028<sup>2,3</sup> | 129852 |
|  | Howard Midstream Energy Partners LLC |  |
| 59000 | &nbsp;&nbsp;&nbsp;7.37%, 7/15/2032<sup>2,3</sup> | 61247 |
| 149000 | &nbsp;&nbsp;&nbsp;6.62%, 1/15/2034<sup>2,3</sup> | 151853 |
| 540000 | Ithaca Energy North Sea PLC<br> 8.12%, 10/15/2029<sup>2,3,7</sup> | 564142 |
| 420000 | Medco Cypress Tree Pte Ltd.<br> 8.62%, 5/19/2030<sup>2,3,7</sup> | 442957 |
| 983000 | MPLX LP<br> 4.90%, 4/15/2058<sup>3</sup> | 815882 |
|  | NGPL PipeCo LLC |  |
| 820000 | &nbsp;&nbsp;&nbsp;4.88%, 8/15/2027<sup>2,3</sup> | 822075 |
| 737000 | &nbsp;&nbsp;&nbsp;7.77%, 12/15/2037<sup>2</sup> | 850689 |
| 1165000 | ONEOK, Inc.<br> 6.05%, 9/1/2033<sup>3</sup> | 1235540 |
| 400000 | Petroleos del Peru S.A.<br> 4.75%, 6/19/2032<sup>2,7</sup> | 346768 |
| 485000 | Petroleos Mexicanos<br> 6.50%, 3/13/2027<sup>7</sup> | 490699 |
| 238000 | Phillips 66<br> 4.88%, 11/15/2044<sup>3</sup> | 212175 |
|  | Plains All American Pipeline LP / PAA Finance Corp. |  |
| 250000 | &nbsp;&nbsp;&nbsp;4.50%, 12/15/2026<sup>3</sup> | 250450 |
| 153000 | &nbsp;&nbsp;&nbsp;4.70%, 1/15/2031<sup>3</sup> | 153366 |
| 200000 | Repsol E&P Capital Markets U.S. LLC<br> 5.98%, 9/16/2035<sup>2,3</sup> | 203647 |
| 250000 | Saudi Arabian Oil Co.<br> 5.75%, 7/17/2054<sup>2,3,7</sup> | 248625 |
| 234000 | South Bow USA Infrastructure Holdings LLC<br> 5.58%, 10/1/2034<sup>3</sup> | 235392 |
| 462000 | Targa Resources Corp.<br> 4.90%, 9/15/2030<sup>3</sup> | 469333 |
| 809000 | Targa Resources Partners LP / Targa Resources Partners Finance Corp.<br> 5.50%, 3/1/2030<sup>3</sup> | 823089 |
|  | TotalEnergies Capital S.A. |  |
| 277000 | &nbsp;&nbsp;&nbsp;5.49%, 4/5/2054<sup>3,7</sup> | 274007 |
| 635000 | &nbsp;&nbsp;&nbsp;5.43%, 9/10/2064<sup>3,7</sup> | 610942 |
| 736000 | TransCanada PipeLines Ltd.<br> 7.00% (USD 5 Year Tsy+262 basis points), 6/1/2065<sup>3,7,8</sup> | 756268 |
| 561000 | Venture Global Plaquemines LNG LLC<br> 6.75%, 1/15/2036<sup>2,3</sup> | 595882 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **ENERGY (Continued)** |  |
| 800000 | Williams Cos., Inc.<br> 4.90%, 1/15/2045<sup>3</sup> | $718283 |
|  |  | **20394921** |
|  | **FINANCIALS — 27.5%** |  |
|  | AerCap Ireland Capital DAC / AerCap Global Aviation Trust |  |
| 669000 | &nbsp;&nbsp;&nbsp;3.30%, 1/30/2032<sup>3,7</sup> | 616135 |
| 150000 | &nbsp;&nbsp;&nbsp;6.95% (USD 5 Year Tsy+272 basis points), 3/10/2055<sup>3,7,8</sup> | 156961 |
| 175000 | &nbsp;&nbsp;&nbsp;6.50% (USD 5 Year Tsy+244 basis points), 1/31/2056<sup>3,7,8</sup> | 180612 |
| 156000 | Aircastle Ltd. / Aircastle Ireland DAC<br> 5.75%, 10/1/2031<sup>2,3,7</sup> | 162558 |
|  | Allianz S.E. |  |
| 600000 | &nbsp;&nbsp;&nbsp;3.50% (USD 5 Year Tsy+297 basis points)<sup>2,3,7,8,9,11</sup> | 595472 |
| 200000 | &nbsp;&nbsp;&nbsp;3.20% (USD 5 Year Tsy+216 basis points)<sup>2,3,7,8,9,11</sup> | 187784 |
| 175000 | Allstate Corp.<br> 6.50% (3-Month USD Libor+212 basis points), 5/15/2067<sup>3,10</sup> | 184135 |
| 747000 | American Homes 4 Rent LP<br> 5.50%, 2/1/2034<sup>3</sup> | 770953 |
| 287000 | Arthur J. Gallagher & Co.<br> 5.55%, 2/15/2055<sup>3</sup> | 280641 |
| 1225000 | Athene Global Funding<br> 5.54%, 8/22/2035<sup>2</sup> | 1241589 |
| 400000 | Banco Santander S.A.<br> 5.59%, 8/8/2028<sup>7</sup> | 415596 |
|  | Bank of America Corp. |  |
| 200000 | &nbsp;&nbsp;&nbsp;4.18%, 11/25/2027<sup>3</sup> | 200105 |
| 1895000 | &nbsp;&nbsp;&nbsp;2.97% (SOFR+133 basis points), 2/4/2033<sup>3,10</sup> | 1725416 |
| 965000 | &nbsp;&nbsp;&nbsp;5.87% (SOFR+184 basis points), 9/15/2034<sup>3,10</sup> | 1033956 |
| 384000 | &nbsp;&nbsp;&nbsp;5.47% (SOFR+165 basis points), 1/23/2035<sup>3,10</sup> | 400875 |
| 1055000 | &nbsp;&nbsp;&nbsp;5.51% (SOFR+131 basis points), 1/24/2036<sup>3,10</sup> | 1102679 |
| 799000 | &nbsp;&nbsp;&nbsp;5.74% (SOFR+170 basis points), 2/12/2036<sup>3,10</sup> | 830062 |
| 200000 | &nbsp;&nbsp;&nbsp;5.88%, 2/7/2042 | 214300 |
| 599000 | Bank of Montreal<br> 7.30% (USD 5 Year Tsy+301 basis points), 11/26/2084<sup>3,7,8</sup> | 635644 |
| 1250000 | Bank of Nova Scotia<br> 7.35% (USD 5 Year Tsy+290 basis points), 4/27/2085<sup>3,7,8</sup> | 1303732 |
| 354000 | Barclays PLC<br> 5.86% (SOFR+183 basis points), 8/11/2046<sup>3,7,10</sup> | 363362 |
| 65000 | Block, Inc.<br> 5.63%, 8/15/2030<sup>2,3</sup> | 65855 |
| 115000 | Brown & Brown, Inc.<br> 5.55%, 6/23/2035<sup>3</sup> | 118311 |
| 600000 | Capital One Financial Corp.<br> 7.62% (SOFR+307 basis points), 10/30/2031<sup>3,10</sup> | 678796 |
|  | Citigroup, Inc. |  |
| 779000 | &nbsp;&nbsp;&nbsp;5.45% (SOFR+145 basis points), 6/11/2035<sup>3,10</sup> | 807839 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **FINANCIALS (Continued)** |  |
| 658000 | &nbsp;&nbsp;&nbsp;6.02% (SOFR+183 basis points), 1/24/2036<sup>3,10</sup> | $689369 |
| 672000 | &nbsp;&nbsp;&nbsp;6.75% (USD 5 Year Tsy+257 basis points)<sup>3,8,9</sup> | 683087 |
|  | Citizens Financial Group, Inc. |  |
| 103000 | &nbsp;&nbsp;&nbsp;5.84% (SOFR+201 basis points), 1/23/2030<sup>3,10</sup> | 107364 |
| 798000 | &nbsp;&nbsp;&nbsp;6.64% (SOFR+232 basis points), 4/25/2035<sup>3,10</sup> | 878082 |
|  | Corebridge Financial, Inc. |  |
| 31000 | &nbsp;&nbsp;&nbsp;5.75%, 1/15/2034<sup>3</sup> | 32609 |
| 328000 | &nbsp;&nbsp;&nbsp;6.37% (USD 5 Year Tsy+265 basis points), 9/15/2054<sup>3,8</sup> | 336630 |
| 694000 | Cousins Properties LP<br> 5.38%, 2/15/2032<sup>3</sup> | 711592 |
| 715000 | CubeSmart LP<br> 5.13%, 11/1/2035<sup>3</sup> | 712166 |
| 265000 | Extra Space Storage LP<br> 2.35%, 3/15/2032<sup>3</sup> | 230031 |
| 1050000 | Farmers Insurance Exchange<br> 4.75% (3-Month USD Libor+323 basis points), 11/1/2057<sup>2,3,10</sup> | 883476 |
| 407000 | First Industrial LP<br> 5.25%, 1/15/2031<sup>3</sup> | 417403 |
| 450000 | Global Payments, Inc.<br> 5.40%, 8/15/2032<sup>3</sup> | 460398 |
|  | Goldman Sachs Group, Inc. |  |
| 209000 | &nbsp;&nbsp;&nbsp;5.95%, 1/15/2027 | 214169 |
| 790000 | &nbsp;&nbsp;&nbsp;6.33% (3-Month Term SOFR+201 basis points), 10/28/2027<sup>3,4</sup> | 801976 |
| 1787000 | &nbsp;&nbsp;&nbsp;5.05% (SOFR+121 basis points), 7/23/2030<sup>3,10</sup> | 1832150 |
| 1640000 | &nbsp;&nbsp;&nbsp;1.99% (SOFR+109 basis points), 1/27/2032<sup>3,10</sup> | 1447372 |
| 250000 | &nbsp;&nbsp;&nbsp;6.75%, 10/1/2037 | 280091 |
| 391000 | &nbsp;&nbsp;&nbsp;5.56% (SOFR+158 basis points), 11/19/2045<sup>3,10</sup> | 396675 |
| 519000 | &nbsp;&nbsp;&nbsp;5.73% (SOFR+170 basis points), 1/28/2056<sup>3,10</sup> | 537988 |
| 232000 | High Street Funding Trust II<br> 4.68%, 2/15/2048<sup>2,3</sup> | 203529 |
|  | HSBC Holdings PLC |  |
| 224000 | &nbsp;&nbsp;&nbsp;4.95%, 3/31/2030<sup>7</sup> | 229783 |
| 620000 | &nbsp;&nbsp;&nbsp;5.74% (SOFR+196 basis points), 9/10/2036<sup>3,7,10</sup> | 632712 |
| 398000 | ING Groep N.V.<br> 7.00% (SOFR Swap 5 year+359 basis points)<sup>3,7,9,10</sup> | 410025 |
|  | JPMorgan Chase & Co. |  |
| 287000 | &nbsp;&nbsp;&nbsp;5.30% (SOFR+145 basis points), 7/24/2029<sup>3,10</sup> | 295745 |
| 1280000 | &nbsp;&nbsp;&nbsp;2.58% (3-Month Term SOFR+125 basis points), 4/22/2032<sup>3,10</sup> | 1163634 |
| 1551000 | &nbsp;&nbsp;&nbsp;5.35% (SOFR+184 basis points), 6/1/2034<sup>3,10</sup> | 1616401 |
| 1009000 | &nbsp;&nbsp;&nbsp;5.34% (SOFR+162 basis points), 1/23/2035<sup>3,10</sup> | 1047238 |
| 307000 | &nbsp;&nbsp;&nbsp;5.50% (SOFR+132 basis points), 1/24/2036<sup>3,10</sup> | 321227 |
| 514000 | &nbsp;&nbsp;&nbsp;5.58% (SOFR+164 basis points), 7/23/2036<sup>3,10</sup> | 532441 |
| 482000 | &nbsp;&nbsp;&nbsp;5.53% (SOFR+155 basis points), 11/29/2045<sup>3,10</sup> | 495246 |
| 342000 | Kilroy Realty LP<br> 5.88%, 10/15/2035<sup>3</sup> | 346453 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **FINANCIALS (Continued)** |  |
| 930000 | Liberty Mutual Group, Inc.<br> 3.95%, 10/15/2050<sup>2,3</sup> | $711753 |
| 341000 | Lincoln National Corp.<br> 5.85%, 3/15/2034<sup>3</sup> | 356824 |
| 452000 | Lloyds Banking Group PLC<br> 5.59% (USD 1 Year Tsy+120 basis points), 11/26/2035<sup>3,7,10</sup> | 469629 |
| 401000 | M&T Bank Corp.<br> 5.18% (SOFR+140 basis points), 7/8/2031<sup>3,10</sup> | 410774 |
|  | Macquarie Airfinance Holdings Ltd. |  |
| 848000 | &nbsp;&nbsp;&nbsp;5.15%, 3/17/2030<sup>2,3,7</sup> | 860087 |
| 59000 | &nbsp;&nbsp;&nbsp;6.50%, 3/26/2031<sup>2,3,7</sup> | 63217 |
| 236000 | Massachusetts Mutual Life Insurance Co.<br> 4.90%, 4/1/2077<sup>2</sup> | 199796 |
|  | MetLife, Inc. |  |
| 1219000 | &nbsp;&nbsp;&nbsp;9.25%, 4/8/2038<sup>2,3</sup> | 1462049 |
| 333000 | &nbsp;&nbsp;&nbsp;10.75%, 8/1/2039<sup>3</sup> | 444875 |
| 1150000 | &nbsp;&nbsp;&nbsp;6.40%, 12/15/2066<sup>3</sup> | 1210304 |
|  | Morgan Stanley |  |
| 1250000 | &nbsp;&nbsp;&nbsp;5.04% (SOFR+122 basis points), 7/19/2030<sup>3,10</sup> | 1281434 |
| 575000 | &nbsp;&nbsp;&nbsp;4.89% (SOFR+208 basis points), 7/20/2033<sup>3,10</sup> | 583815 |
| 1415000 | &nbsp;&nbsp;&nbsp;6.63% (SOFR+205 basis points), 11/1/2034<sup>3,10</sup> | 1582501 |
| 78000 | Nasdaq, Inc.<br> 5.35%, 6/28/2028<sup>3</sup> | 80438 |
| 260000 | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer<br> 7.00%, 2/1/2030<sup>2,3</sup> | 268036 |
|  | Phillips Edison Grocery Center Operating Partnership I LP |  |
| 490000 | &nbsp;&nbsp;&nbsp;5.25%, 8/15/2032<sup>3</sup> | 500823 |
| 80000 | &nbsp;&nbsp;&nbsp;5.75%, 7/15/2034<sup>3</sup> | 83258 |
| 244000 | &nbsp;&nbsp;&nbsp;4.95%, 1/15/2035<sup>3</sup> | 240395 |
| 281000 | Pine Street Trust III<br> 6.22%, 5/15/2054<sup>2,3</sup> | 289289 |
|  | PNC Financial Services Group, Inc. |  |
| 166000 | &nbsp;&nbsp;&nbsp;6.61% (SOFR Index+173 basis points), 10/20/2027<sup>3,10</sup> | 170074 |
| 309000 | &nbsp;&nbsp;&nbsp;5.37% (SOFR+142 basis points), 7/21/2036<sup>3,10</sup> | 317967 |
| 379000 | &nbsp;&nbsp;&nbsp;5.00% (3-Month Term SOFR+356 basis points)<sup>3,9,10,11</sup> | 377413 |
| 227000 | Prologis LP<br> 5.25%, 3/15/2054<sup>3</sup> | 219531 |
| 447000 | Prudential Financial, Inc.<br> 5.70% (3-Month USD Libor+266 basis points), 9/15/2048<sup>3,10</sup> | 455254 |
| 215000 | Rexford Industrial Realty LP<br> 2.15%, 9/1/2031<sup>3</sup> | 187012 |
| 900000 | Royal Bank of Canada<br> 7.50% (USD 5 Year Tsy+289 basis points), 5/2/2084<sup>3,7,8</sup> | 948441 |
| 572000 | Sabra Health Care LP<br> 3.20%, 12/1/2031<sup>3</sup> | 519649 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **FINANCIALS (Continued)** |  |
| 78000 | Santander Holdings USA, Inc.<br> 6.50% (SOFR+236 basis points), 3/9/2029<sup>3,10</sup> | $81412 |
| 462000 | SBA Tower Trust<br> 2.59%, 10/15/2031<sup>2,3</sup> | 408503 |
| 159000 | Simon Property Group LP<br> 5.85%, 3/8/2053<sup>3</sup> | 164860 |
| 278000 | State Street Corp.<br> 6.70% (USD 5 Year Tsy+261 basis points)<sup>3,8,9</sup> | 289358 |
| 564000 | Store Capital LLC<br> 5.40%, 4/30/2030<sup>2,3</sup> | 574547 |
|  | Toronto-Dominion Bank |  |
| 382000 | &nbsp;&nbsp;&nbsp;5.53%, 7/17/2026<sup>7</sup> | 386223 |
| 350000 | &nbsp;&nbsp;&nbsp;7.25% (USD 5 Year Tsy+298 basis points), 7/31/2084<sup>3,7,8</sup> | 368371 |
|  | Truist Financial Corp. |  |
| 96000 | &nbsp;&nbsp;&nbsp;7.16% (SOFR+245 basis points), 10/30/2029<sup>3,10</sup> | 104001 |
| 66000 | &nbsp;&nbsp;&nbsp;5.87% (SOFR+236 basis points), 6/8/2034<sup>3,10</sup> | 69934 |
| 70000 | &nbsp;&nbsp;&nbsp;5.71% (SOFR+192 basis points), 1/24/2035<sup>3,10</sup> | 73473 |
| 1232000 | &nbsp;&nbsp;&nbsp;6.67% (USD 5 Year Tsy+300 basis points)<sup>3,8,9,11</sup> | 1237955 |
|  | U.S. Bancorp |  |
| 94000 | &nbsp;&nbsp;&nbsp;5.84% (SOFR+226 basis points), 6/12/2034<sup>3,10</sup> | 100155 |
| 265000 | &nbsp;&nbsp;&nbsp;5.68% (SOFR+186 basis points), 1/23/2035<sup>3,10</sup> | 279180 |
|  | UBS Group A.G. |  |
| 250000 | &nbsp;&nbsp;&nbsp;3.09% (SOFR+173 basis points), 5/14/2032<sup>2,3,7,10</sup> | 231399 |
| 200000 | &nbsp;&nbsp;&nbsp;5.70% (USD 1 Year Tsy+177 basis points), 2/8/2035<sup>2,3,7,8</sup> | 210639 |
| 325000 | &nbsp;&nbsp;&nbsp;5.58% (SOFR+176 basis points), 5/9/2036<sup>2,3,7,10</sup> | 338483 |
| 475000 | Vornado Realty LP<br> 2.15%, 6/1/2026<sup>3</sup> | 466374 |
|  | Wells Fargo & Co. |  |
| 290000 | &nbsp;&nbsp;&nbsp;5.57% (SOFR+174 basis points), 7/25/2029<sup>3,10</sup> | 300586 |
| 366000 | &nbsp;&nbsp;&nbsp;5.20% (SOFR+150 basis points), 1/23/2030<sup>3,10</sup> | 377114 |
| 535000 | &nbsp;&nbsp;&nbsp;6.49% (SOFR+206 basis points), 10/23/2034<sup>3,10</sup> | 594389 |
| 1200000 | &nbsp;&nbsp;&nbsp;5.50% (SOFR+178 basis points), 1/23/2035<sup>3,10</sup> | 1251420 |
| 1000000 | &nbsp;&nbsp;&nbsp;4.75%, 12/7/2046 | 887069 |
| 719000 | &nbsp;&nbsp;&nbsp;3.90% (USD 5 Year Tsy+345 basis points)<sup>3,8,9,11</sup> | 711993 |
| 1010000 | Westpac Banking Corp.<br> 2.67% (USD 5 Year Tsy+175 basis points), 11/15/2035<sup>3,7,8</sup> | 906639 |
|  |  | **57929145** |
|  | **GOVERNMENTS — 3.5%** |  |
| 325000 | Argentine Republic Government International Bond<br> 3.50%, 7/9/2041<sup>3,6,7</sup> | 157983 |
| 1000000 | Brazilian Government International Bond<br> 5.50%, 11/6/2030<sup>7</sup> | 1019300 |
|  | Colombia Government International Bond |  |
| 327000 | &nbsp;&nbsp;&nbsp;5.63%, 2/19/2036<sup>3</sup> | 371413 |
| 590000 | &nbsp;&nbsp;&nbsp;7.75%, 11/7/2036<sup>3,7</sup> | 617883 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **GOVERNMENTS (Continued)** |  |
| 290000 | Corp Andina de Fomento<br> 6.75% (SOFR Swap 5 year+312 basis points)<sup>2,3,7,8,9</sup> | $299686 |
| 585000 | Eagle Funding Luxco Sarl<br> 5.50%, 8/17/2030<sup>2,3,7</sup> | 593886 |
| 954000 | Israel Government International Bond<br> 5.75%, 3/12/2054<sup>7</sup> | 896910 |
|  | Mexico Government International Bond |  |
| 1494000 | &nbsp;&nbsp;&nbsp;6.87%, 5/13/2037<sup>3,7</sup> | 1610607 |
| 360000 | &nbsp;&nbsp;&nbsp;6.62%, 1/29/2038<sup>3,7</sup> | 378540 |
|  | Peruvian Government International Bond |  |
| 309000 | &nbsp;&nbsp;&nbsp;5.88%, 8/8/2054<sup>3,7</sup> | 309927 |
| 396000 | &nbsp;&nbsp;&nbsp;6.20%, 6/30/2055<sup>3,7</sup> | 411503 |
| 730000 | Romanian Government International Bond<br> 5.75%, 3/24/2035<sup>2,7</sup> | 702878 |
|  |  | **7370516** |
|  | **HEALTH CARE — 4.3%** |  |
| 762000 | Adventist Health System/West<br> 4.74%, 12/1/2030<sup>3</sup> | 762475 |
|  | Amgen, Inc. |  |
| 61000 | &nbsp;&nbsp;&nbsp;5.25%, 3/2/2030<sup>3</sup> | 63249 |
| 146000 | &nbsp;&nbsp;&nbsp;5.65%, 3/2/2053<sup>3</sup> | 145646 |
| 1000000 | Bayer U.S. Finance II LLC<br> 4.63%, 6/25/2038<sup>2,3</sup> | 905282 |
| 247000 | Bayer U.S. Finance LLC<br> 6.50%, 11/21/2033<sup>2,3</sup> | 266297 |
| 864000 | Bristol-Myers Squibb Co.<br> 5.55%, 2/22/2054<sup>3</sup> | 861006 |
|  | Cigna Group |  |
| 595000 | &nbsp;&nbsp;&nbsp;4.90%, 12/15/2048<sup>3</sup> | 533734 |
| 184000 | &nbsp;&nbsp;&nbsp;6.00%, 1/15/2056<sup>3</sup> | 190820 |
| 322000 | CVS Health Corp.<br> 6.00%, 6/1/2044<sup>3</sup> | 326455 |
| 625000 | Eli Lilly & Co.<br> 5.50%, 2/12/2055<sup>3</sup> | 637916 |
|  | HCA, Inc. |  |
| 500000 | &nbsp;&nbsp;&nbsp;5.87%, 2/1/2029<sup>3</sup> | 520792 |
| 595000 | &nbsp;&nbsp;&nbsp;6.20%, 3/1/2055<sup>3</sup> | 613908 |
| 206000 | Novartis Capital Corp.<br> 4.70%, 9/18/2054<sup>3</sup> | 187981 |
|  | Royalty Pharma PLC |  |
| 829000 | &nbsp;&nbsp;&nbsp;2.20%, 9/2/2030<sup>3,7</sup> | 744471 |
| 320000 | &nbsp;&nbsp;&nbsp;2.15%, 9/2/2031<sup>3,7</sup> | 278765 |
| 323000 | STERIS Irish FinCo UnLtd Co.<br> 2.70%, 3/15/2031<sup>3,7</sup> | 294406 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **HEALTH CARE (Continued)** |  |
|  | Takeda Pharmaceutical Co., Ltd. |  |
| 651000 | &nbsp;&nbsp;&nbsp;5.30%, 7/5/2034<sup>3,7</sup> | $670735 |
| 545000 | &nbsp;&nbsp;&nbsp;3.18%, 7/9/2050<sup>3,7</sup> | 368506 |
|  | UnitedHealth Group, Inc. |  |
| 397000 | &nbsp;&nbsp;&nbsp;3.05%, 5/15/2041<sup>3</sup> | 301622 |
| 253000 | &nbsp;&nbsp;&nbsp;5.95%, 6/15/2055<sup>3</sup> | 263377 |
| 204000 | Zimmer Biomet Holdings, Inc.<br> 5.35%, 12/1/2028<sup>3</sup> | 211356 |
|  |  | **9148799** |
|  | **INDUSTRIALS — 3.0%** |  |
| 119000 | AGCO Corp.<br> 5.80%, 3/21/2034<sup>3</sup> | 123698 |
| 270000 | Albion Financing 1 SARL / Aggreko Holdings, Inc.<br> 7.00%, 5/21/2030<sup>2,3,7</sup> | 278718 |
|  | Ashtead Capital, Inc. |  |
| 422000 | &nbsp;&nbsp;&nbsp;4.00%, 5/1/2028<sup>2,3</sup> | 418475 |
| 201000 | &nbsp;&nbsp;&nbsp;5.95%, 10/15/2033<sup>2,3</sup> | 212500 |
| 200000 | BAE Systems PLC<br> 5.50%, 3/26/2054<sup>2,3,7</sup> | 202675 |
|  | Boeing Co. |  |
| 556000 | &nbsp;&nbsp;&nbsp;5.80%, 5/1/2050<sup>3</sup> | 555343 |
| 193000 | &nbsp;&nbsp;&nbsp;6.86%, 5/1/2054<sup>3</sup> | 219797 |
| 136000 | Bombardier, Inc.<br> 6.75%, 6/15/2033<sup>2,3,7</sup> | 141917 |
| 1040000 | CSX Corp.<br> 4.90%, 3/15/2055<sup>3</sup> | 953743 |
| 336000 | Herc Holdings, Inc.<br> 5.50%, 7/15/2027<sup>2,3</sup> | 335165 |
| 136000 | Norfolk Southern Corp.<br> 5.55%, 3/15/2034<sup>3</sup> | 144126 |
| 414000 | Rolls-Royce PLC<br> 5.75%, 10/15/2027<sup>2,3,7</sup> | 425341 |
| 367000 | Ryder System, Inc.<br> 6.60%, 12/1/2033<sup>3</sup> | 411034 |
| 200000 | Siemens Funding B.V.<br> 5.80%, 5/28/2055<sup>2,3,7</sup> | 214613 |
| 175000 | Terex Corp.<br> 6.25%, 10/15/2032<sup>2,3</sup> | 178273 |
| 400000 | TK Elevator U.S. Newco, Inc.<br> 5.25%, 7/15/2027<sup>2,3</sup> | 398613 |
| 52000 | TransDigm, Inc.<br> 6.75%, 8/15/2028<sup>2,3</sup> | 52993 |
| 160000 | Triton Container International Ltd.<br> 3.15%, 6/15/2031<sup>2,3,7</sup> | 142721 |
| 200000 | Union Pacific Corp.<br> 3.84%, 3/20/2060<sup>3</sup> | 148037 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **INDUSTRIALS (Continued)** |  |
|  | United Parcel Service, Inc. |  |
| 390000 | &nbsp;&nbsp;&nbsp;5.95%, 5/14/2055<sup>3</sup> | $407283 |
| 277000 | &nbsp;&nbsp;&nbsp;6.05%, 5/14/2065<sup>3</sup> | 289849 |
|  |  | **6254914** |
|  | **MATERIALS — 3.1%** |  |
| 200000 | Alcoa Nederland Holding B.V.<br> 7.12%, 3/15/2031<sup>2,3,7</sup> | 210178 |
| 323000 | Alumina Pty Ltd.<br> 6.38%, 9/15/2032<sup>2,3,7</sup> | 331074 |
| 525000 | Anglo American Capital PLC<br> 5.75%, 4/5/2034<sup>2,3,7</sup> | 551035 |
| 516000 | AngloGold Ashanti Holdings PLC<br> 3.75%, 10/1/2030<sup>3,7</sup> | 492284 |
| 553000 | Ball Corp.<br> 6.00%, 6/15/2029<sup>3</sup> | 566086 |
|  | Braskem Netherlands Finance B.V. |  |
| 460000 | &nbsp;&nbsp;&nbsp;8.00%, 10/15/2034<sup>2,3,7</sup> | 171810 |
| 349000 | &nbsp;&nbsp;&nbsp;5.88%, 1/31/2050<sup>2,7</sup> | 125727 |
| 200000 | Cemex S.A.B. de C.V.<br> 7.20% (USD 5 Year Tsy+352 basis points)<sup>2,3,7,8,9</sup> | 207710 |
| 487000 | Corp Nacional del Cobre de Chile<br> 6.33%, 1/13/2035<sup>2,3,7</sup> | 519264 |
| 220000 | Glencore Funding LLC<br> 5.89%, 4/4/2054<sup>2,3</sup> | 221988 |
| 240000 | LD Celulose International GmbH<br> 7.95%, 1/26/2032<sup>2,3,7</sup> | 253706 |
| 271000 | Olin Corp.<br> 6.62%, 4/1/2033<sup>2,3</sup> | 272415 |
|  | Rio Tinto Finance USA PLC |  |
| 617000 | &nbsp;&nbsp;&nbsp;5.75%, 3/14/2055<sup>3,7</sup> | 634669 |
| 214000 | &nbsp;&nbsp;&nbsp;5.88%, 3/14/2065<sup>3,7</sup> | 222890 |
| 200000 | Smurfit Kappa Treasury ULC<br> 5.44%, 4/3/2034<sup>3,7</sup> | 207366 |
| 430000 | Smyrna Ready Mix Concrete LLC<br> 8.87%, 11/15/2031<sup>2,3</sup> | 453718 |
| 400000 | Solvay Finance America LLC<br> 5.85%, 6/4/2034<sup>2,3</sup> | 418067 |
| 295000 | Steel Dynamics, Inc.<br> 5.25%, 5/15/2035<sup>3</sup> | 301431 |
| 313000 | Suzano Austria GmbH<br> 3.75%, 1/15/2031<sup>3,7</sup> | 296167 |
| 146000 | Vale Overseas Ltd.<br> 6.40%, 6/28/2054<sup>3,7</sup> | 150077 |
|  |  | **6607662** |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **TECHNOLOGY — 4.6%** |  |
|  | Broadcom, Inc. |  |
| 1125000 | &nbsp;&nbsp;&nbsp;3.47%, 4/15/2034<sup>2,3</sup> | $1026214 |
| 1030000 | &nbsp;&nbsp;&nbsp;3.19%, 11/15/2036<sup>2,3</sup> | 879355 |
| 98000 | Dell International LLC / EMC Corp.<br> 8.35%, 7/15/2046<sup>3</sup> | 127299 |
| 500000 | Foundry JV Holdco LLC<br> 6.30%, 1/25/2039<sup>2,3</sup> | 537690 |
| 804000 | Hewlett Packard Enterprise Co.<br> 5.00%, 10/15/2034<sup>3</sup> | 797779 |
| 839000 | HP, Inc.<br> 5.40%, 4/25/2030<sup>3</sup> | 870955 |
| 313000 | IBM International Capital Pte Ltd.<br> 5.30%, 2/5/2054<sup>3,7</sup> | 299355 |
|  | Intel Corp. |  |
| 724000 | &nbsp;&nbsp;&nbsp;5.15%, 2/21/2034<sup>3</sup> | 734079 |
| 234000 | &nbsp;&nbsp;&nbsp;5.70%, 2/10/2053<sup>3</sup> | 226297 |
|  | Micron Technology, Inc. |  |
| 109000 | &nbsp;&nbsp;&nbsp;5.30%, 1/15/2031<sup>3</sup> | 112815 |
| 166000 | &nbsp;&nbsp;&nbsp;2.70%, 4/15/2032<sup>3</sup> | 147716 |
| 151000 | Microsoft Corp.<br> 2.68%, 6/1/2060<sup>3</sup> | 90227 |
| 526000 | NXP B.V. / NXP Funding LLC / NXP USA, Inc.<br> 4.30%, 6/18/2029<sup>3,7</sup> | 525462 |
|  | Oracle Corp. |  |
| 924000 | &nbsp;&nbsp;&nbsp;4.20%, 9/27/2029<sup>3</sup> | 922239 |
| 500000 | &nbsp;&nbsp;&nbsp;3.85%, 7/15/2036<sup>3</sup> | 445506 |
| 458000 | &nbsp;&nbsp;&nbsp;3.60%, 4/1/2040<sup>3</sup> | 367771 |
| 780000 | &nbsp;&nbsp;&nbsp;4.00%, 7/15/2046<sup>3</sup> | 607639 |
| 440000 | &nbsp;&nbsp;&nbsp;5.37%, 9/27/2054<sup>3</sup> | 403933 |
| 768000 | VMware, Inc.<br> 2.20%, 8/15/2031<sup>3</sup> | 677602 |
|  |  | **9799933** |
|  | **UTILITIES — 8.6%** |  |
| 446898 | AES Panama Generation Holdings SRL<br> 4.38%, 5/31/2030<sup>2,3,7</sup> | 422319 |
| 265000 | Alliant Energy Corp.<br> 5.75% (USD 5 Year Tsy+208 basis points), 4/1/2056<sup>3,5</sup> | 265340 |
| 484000 | American Electric Power Co., Inc.<br> 6.05% (USD 5 Year Tsy+194 basis points), 3/15/20563,5 | 484498 |
| 789000 | Arizona Public Service Co.<br> 4.25%, 3/1/2049<sup>3</sup> | 643912 |
| 1025000 | Baltimore Gas and Electric Co.<br> 5.65%, 6/1/2054<sup>3</sup> | 1045804 |
| 700000 | Black Hills Corp.<br> 6.15%, 5/15/2034<sup>3</sup> | 747753 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **UTILITIES (Continued)** |  |
| 403000 | CenterPoint Energy, Inc.<br> 6.70% (USD 5 Year Tsy+259 basis points), 5/15/2055<sup>3,5</sup> | $416440 |
| 229000 | CMS Energy Corp.<br> 3.75% (USD 5 Year Tsy+290 basis points), 12/1/2050<sup>3,8</sup> | 211402 |
|  | Consolidated Edison Co. of New York, Inc. |  |
| 140000 | &nbsp;&nbsp;&nbsp;5.90%, 11/15/2053<sup>3</sup> | 145939 |
| 1000000 | &nbsp;&nbsp;&nbsp;5.70%, 5/15/2054<sup>3</sup> | 1024029 |
|  | Constellation Energy Generation LLC |  |
| 1000000 | &nbsp;&nbsp;&nbsp;6.13%, 1/15/2034<sup>3</sup> | 1088442 |
| 493000 | &nbsp;&nbsp;&nbsp;5.75%, 3/15/2054<sup>3</sup> | 500140 |
|  | Duke Energy Corp. |  |
| 1000000 | &nbsp;&nbsp;&nbsp;5.45%, 6/15/2034<sup>3</sup> | 1040115 |
| 800000 | &nbsp;&nbsp;&nbsp;5.00%, 8/15/2052<sup>3</sup> | 720106 |
| 870000 | Duke Energy Indiana LLC<br> 5.40%, 4/1/2053<sup>3</sup> | 850752 |
| 200000 | Electricite de France S.A.<br> 9.12% (USD 5 Year Tsy+541 basis points)<sup>2,3,7,8,9</sup> | 231787 |
| 300000 | Enel Finance International N.V.<br> 7.50%, 10/14/2032<sup>2,3,7</sup> | 345895 |
| 433000 | Entergy Corp.<br> 7.12% (USD 5 Year Tsy+267 basis points), 12/1/2054<sup>3,8</sup> | 452436 |
| 97000 | Eversource Energy<br> 5.50%, 1/1/2034<sup>3</sup> | 100156 |
|  | Exelon Corp. |  |
| 905000 | &nbsp;&nbsp;&nbsp;4.05%, 4/15/2030<sup>3</sup> | 895393 |
| 212000 | &nbsp;&nbsp;&nbsp;6.50% (USD 5 Year Tsy+197 basis points), 3/15/2055<sup>3,8</sup> | 221684 |
| 354000 | FirstEnergy Pennsylvania Electric Co<br> 4.30%, 1/15/2029<sup>2,3</sup> | 353762 |
| 164000 | Hawaiian Electric Co., Inc.<br> 6.00%, 10/1/2033<sup>2,3</sup> | 165358 |
| 307000 | IPALCO Enterprises, Inc.<br> 4.25%, 5/1/2030<sup>3</sup> | 300576 |
| 314000 | Jersey Central Power & Light Co.<br> 2.75%, 3/1/2032<sup>2,3</sup> | 280759 |
| 327000 | NextEra Energy Capital Holdings, Inc.<br> 6.50% (USD 5 Year Tsy+198 basis points), 8/15/2055<sup>3,8</sup> | 346332 |
|  | NiSource, Inc. |  |
| 218000 | &nbsp;&nbsp;&nbsp;3.60%, 5/1/2030<sup>3</sup> | 211134 |
| 112000 | &nbsp;&nbsp;&nbsp;5.40%, 6/30/2033<sup>3</sup> | 116108 |
| 363000 | NRG Energy, Inc.<br> 6.00%, 1/15/2036<sup>2,3</sup> | 363134 |
|  | Pacific Gas and Electric Co. |  |
| 601000 | &nbsp;&nbsp;&nbsp;5.05%, 10/15/2032<sup>3</sup> | 599858 |
| 481000 | &nbsp;&nbsp;&nbsp;3.50%, 8/1/2050<sup>3</sup> | 328293 |
| 187000 | Pinnacle West Capital Corp.<br> 5.15%, 5/15/2030<sup>3</sup> | 192294 |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **UTILITIES (Continued)** |  |
| 253000 | PPL Capital Funding, Inc.<br> 5.25%, 9/1/2034<sup>3</sup> | $258752 |
| 111000 | Public Service Enterprise Group, Inc.<br> 6.12%, 10/15/2033<sup>3</sup> | 119829 |
| 239000 | Puget Energy, Inc.<br> 2.38%, 6/15/2028<sup>3</sup> | 226937 |
|  | Southern California Edison Co. |  |
| 139000 | &nbsp;&nbsp;&nbsp;5.25%, 3/15/2030<sup>3</sup> | 141780 |
| 249000 | &nbsp;&nbsp;&nbsp;6.20%, 9/15/2055<sup>3</sup> | 251170 |
|  | Southern Co. Gas Capital Corp. |  |
| 926000 | &nbsp;&nbsp;&nbsp;5.88%, 3/15/2041<sup>3</sup> | 959717 |
| 121000 | &nbsp;&nbsp;&nbsp;3.95%, 10/1/2046<sup>3</sup> | 95686 |
| 822000 | &nbsp;&nbsp;&nbsp;4.40%, 5/30/2047<sup>3</sup> | 690080 |
| 157000 | Xcel Energy, Inc.<br> 5.60%, 4/15/2035<sup>3</sup> | 162892 |
|  |  | **18018793** |
|  | **TOTAL CORPORATE BONDS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $175,235,376) | **173516914** |
|  | **MUNICIPAL BONDS — 0.2%** |  |
| 250000 | City of New York NY<br> 6.38%, 2/1/2055<sup>3</sup> | 267280 |
| 294000 | University of Michigan<br> 3.60%, 4/1/2047 | 248807 |
|  | **TOTAL MUNICIPAL BONDS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $544,000) | **516087** |
|  | **U.S. GOVERNMENT AND AGENCIES — 1.6%** |  |
| 2310900 | United States Treasury Bond<br> 4.88%, 8/15/2045 | 2360367 |
| 1040300 | United States Treasury Note<br> 4.25%, 8/15/2035 | 1048753 |
|  | **TOTAL U.S. GOVERNMENT AND AGENCIES** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $3,410,536) | **3409120** |

---

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  |  |
|  | **SHORT-TERM INVESTMENTS — 1.8%** |  |
| 3730662 | Goldman Sachs Financial Square Government Fund - Institutional Class<br> 3.96%<sup>12</sup> | 3730662 |
|  | **TOTAL SHORT-TERM INVESTMENTS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $3,730,662) | **3730662** |
|  | **TOTAL INVESTMENTS — 99.2%** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $210,876,950) | **208929624** |
|  | Other Assets in Excess of Liabilities — 0.8% | 1731384 |
|  | **TOTAL NET ASSETS — 100.0%** | $**210661008** |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| |
|:---|
| LLC – Limited Liability Company |
| LP – Limited Partnership |
| PLC – Public Limited Company |
| ULC – Unlimited Liability Corporation |

---

<sup>1</sup> Local currency.

<sup>2</sup> Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities are restricted and may be resold in transactions exempt from registration normally to qualified institutional buyers. The total value of these securities is $74,045,811, which represents 35.2% of total net assets of the Fund.

<sup>3</sup> Callable.

<sup>4</sup> Floating rate security.

<sup>5</sup> Variable rate security. Rate shown is the rate in effect as of September 30, 2025.

<sup>6</sup> Step rate security.

<sup>7</sup> Foreign security denominated in U.S. Dollars.

<sup>8</sup> Fixed to variable security. Fixed rate indicated is the rate effective at September 30, 2025. Security may convert at a future date to a variable rate of referenced rate and spread.

<sup>9</sup> Perpetual security. Date shown is next call date.

<sup>10</sup> Fixed to float security. Fixed rate indicated is the rate effective at September 30, 2025. Security may convert at a future date to a floating rate or referenced rate and spread.

<sup>11</sup> Interest-only security.

<sup>12</sup> The rate is the annualized seven-day yield at period end.

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SWAP CONTRACTS** | **SWAP CONTRACTS** | **SWAP CONTRACTS** | **SWAP CONTRACTS** | **SWAP CONTRACTS** | **SWAP CONTRACTS** | **SWAP CONTRACTS** | **SWAP CONTRACTS** | **SWAP CONTRACTS** |
| **CREDIT DEFAULT SWAP CONTRACTS** | **CREDIT DEFAULT SWAP CONTRACTS** | **CREDIT DEFAULT SWAP CONTRACTS** | **CREDIT DEFAULT SWAP CONTRACTS** | **CREDIT DEFAULT SWAP CONTRACTS** | **CREDIT DEFAULT SWAP CONTRACTS** | **CREDIT DEFAULT SWAP CONTRACTS** | **CREDIT DEFAULT SWAP CONTRACTS** | **CREDIT DEFAULT SWAP CONTRACTS** |
| Counterparty/ <br>Reference Entity | Pay/<sup>(b)</sup><br> Rating<sup>(a)</sup><br> (Moody's/<br> S&P) | Receive <br>Fixed <br>Rate | Premium<br> Fixed/Rate<br> Frequency | Unrealized <br>Expiration <br>Date | Notional<br> Amount | Paid<br> (Received) | Appreciation/<br> (Depreciation) | Value |
| **Goldman Sachs International** |  |  |  |  |  |  |  |  |
| Markit CDX NA High Yield |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDSI Series 44 Index |  | Receive | 5%/Quarterly | 6/20/30 | $4500000 | $(313732) | $(46900) | $(360632) |
| **TOTAL CREDIT DEFAULT SWAP CONTRACTS** | **TOTAL CREDIT DEFAULT SWAP CONTRACTS** | **TOTAL CREDIT DEFAULT SWAP CONTRACTS** | **TOTAL CREDIT DEFAULT SWAP CONTRACTS** |  |  | $(313732) | $(46900) | $(360632) |

---

<sup>(a)</sup> Ratings are presented for credit default contracts in which the fund has sold protection on the underlying referenced debt. Ratings for an underlying index represent the average of the ratings of all the securities included in that index. The Moody's and Standard & Poor's (S&P) ratings are believed to be the most recent ratings available at September 30, 2025.

<sup>(b)</sup> If AAM/Insight Select Income Fund is paying a fixed rate, the counterparty acts as guarantor of the variable instrument. If AAM/Insight Select Income Fund is receiving a fixed rate, AAM/Insight Select Income Fund acts as guarantor of the variable instrument.

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** |
| **Sale Contracts** | **Counterparty** | **Currency Exchange** | **Settlement**<br> **Date** | **Currency Amount Sold** | **Value At**<br> **Settlement Date** | **Value At**<br> **September 30, 2025** | **Unrealized Appreciation (Depreciation)** |
| Euro | Citi Bank | EUR per USD | 10/10/2025 | 993000 | $(1167071) | $(1166543) | $528 |
|  |  |  |  |  | (1167071) | (1166543) | 528 |
| **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | $(1167071) | $(1166543) | $528 |
| EUR – Euro | EUR – Euro | EUR – Euro | EUR – Euro | EUR – Euro | EUR – Euro | EUR – Euro | EUR – Euro |

---

**AAM/Insight Select Income Fund**<br>**SCHEDULE OF INVESTMENTS**<br>**As of September 30, 2025 (Unaudited)**<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS**<br>**Number of**<br> **Contracts**<br> **Long (Short)** | <br>**Description** | <br>**Expiration <br> Date** |<br>**Notional <br> Value** |<br>**Value/Unrealized**<br> **Appreciation (Depreciation)** |
| **Interest Rate Futures** | **Interest Rate Futures** | **Interest Rate Futures** | **Interest Rate Futures** | **Interest Rate Futures** |
| 54 | 2-Year U.S. Treasury Note | September 2025 | $11253516 | $16110 |
| 74 | 5-Year U.S. Treasury Note | September 2025 | 8080453 | 22926 |
| 2 | 10-Year U.S. Treasury Note | September 2025 | 225000 | 1068 |
| (11) | Euro Bund | September 2025 | (1661767) | (3384) |
| 109 | U.S. Treasury Long Bond | September 2025 | 12708719 | 280749 |
| (57) | Ultra 10-Year U.S. Treasury Note | September 2025 | (6559453) | (75589) |
| **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | $**24046467** | $**241880** |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** INVESTMENT MANAGERS SERIES TRUST

- **b. Investment Company Act file number:** 811-21719

- **c. CIK number of Registrant:** 0001318342

- **d. LEI of Registrant:** 549300ESWU4ZNAH5Y054

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

  - **Street Address 1:** 235 WEST GALENA STREET

  - **City:** MILWAUKEE

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 532123948

  - **Telephone number:** 4142992000

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

- **a. Name of Series:** AAM Insight Select Income Fund

- **b. EDGAR series identifier (if any):** S000040061

- **c. LEI of Series:** 549300D7VAVYUVZLS632

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-09-30

**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:** $217927946.40

**Total Liabilities:** $7552446.40

**Net Assets:** $210375500.00

**Delayed Delivery Securities:** $1856111.36

**Cash Not Reported:** $575293.28

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 9.859437596673 | **1-Year:** 1366.190121940730 | **5-Year:** 12694.459972038893 | **10-Year:** 34263.122386761209 | **30-Year:** 45008.586938301492

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

- **3-Month:** 16.894742979176 | **1-Year:** 538.320833003948 | **5-Year:** 4334.393828229809 | **10-Year:** 4937.831975910901 | **30-Year:** 1793.136952582167

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000124376 | 0.07%                | 1.04%                | 1.34%                |
| Class ID C000124377 | -0.05%               | 0.98%                | 1.27%                |
| Class ID C000124378 | 0.00%                | 1.06%                | 1.36%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1574.52                 | $-462108.64                                |
| Month 2  | $-287471.36              | $1507304.29                                |
| Month 3  | $87428.44                | $1878622.61                                |

**Designated Index Information**

- **Index Name:** Bloomberg U.S. Credit Index

- **Index Identifier:** LUCR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AGCO CORP                            | AGCO Corp.                                                                        | CUSIP: 001084AS1<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | DBT              | CORP              | US        |    119000 | PA      | $123698.24    | 0.06%             | 2034-03-21      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| AES PANAMA GENERATION HL             | AES Panama Generation Holdings SRL                                                | CUSIP: 00109AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | PA        |    446898 | PA      | $422318.67    | 0.20%             | 2030-05-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| SOUTHERN CO GAS CAPITAL              | Southern Co. Gas Capital Corp.                                                    | CUSIP: 001192AH6<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |    926000 | PA      | $959717.51    | 0.46%             | 2041-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AT&T INC                             | AT&T, Inc.                                                                        | CUSIP: 00206RCQ3<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    750000 | PA      | $669057.00    | 0.32%             | 2046-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AT&T INC                             | AT&T, Inc.                                                                        | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1032777.00   | 0.49%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN             | American Airlines, Inc./AAdvantage Loyalty IP Ltd.                                | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     87250 | PA      | $87264.83     | 0.04%             | 2026-04-20      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN             | American Airlines, Inc./AAdvantage Loyalty IP Ltd.                                | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    161000 | PA      | $161613.89    | 0.08%             | 2029-04-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| DT MIDSTREAM INC                     | DT Midstream, Inc.                                                                | CUSIP: 23345MAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    245000 | PA      | $252504.60    | 0.12%             | 2034-12-15      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| Daimler Trucks Retail Trust          | Daimler Trucks Retail Trust 2023-1                                                | CUSIP: 233868AC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    124487 | PA      | $125177.74    | 0.06%             | 2027-03-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| DataBank Issuer LLC                  | DataBank Issuer                                                                   | CUSIP: 23802WAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    598000 | PA      | $582542.90    | 0.28%             | 2051-10-25      | Fixed         | 2.40%                 | Yes           |                  2 | On Loan: No      |
| DataBank Issuer II, LLC              | DataBank Issuer II LLC                                                            | CUSIP: 23802YAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    647000 | PA      | $649243.80    | 0.31%             | 2055-09-27      | Fixed         | 5.18%                 | Yes           |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP              | Dell International LLC / EMC Corp.                                                | CUSIP: 24703TAK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     98000 | PA      | $127299.35    | 0.06%             | 2046-07-15      | Fixed         | 8.35%                 | No            |                  2 | On Loan: No      |
| DIAGEO INVESTMENT CORP               | Diageo Investment Corp.                                                           | CUSIP: 25245BAE7<br>LEI: S4G8DPIPDVCF6CB81Z61 | Long             | DBT              | CORP              | US        |    200000 | PA      | $212332.80    | 0.10%             | 2035-04-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC               | Diamondback Energy, Inc.                                                          | CUSIP: 25278XAZ2<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    310000 | PA      | $316581.92    | 0.15%             | 2034-04-18      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Dominos Pizza Master Issuer LL       | Domino's Pizza Master Issuer LLC                                                  | CUSIP: 25755TAN0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    525150 | PA      | $496338.17    | 0.24%             | 2051-04-25      | Fixed         | 2.66%                 | Yes           |                  2 | On Loan: No      |
| Dominos Pizza Master Issuer LL       | Domino's Pizza Master Issuer LLC                                                  | CUSIP: 25755TAR1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     84000 | PA      | $84844.62     | 0.04%             | 2055-07-25      | Fixed         | 5.22%                 | Yes           |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                 | Keurig Dr Pepper, Inc.                                                            | CUSIP: 26138EAT6<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    251000 | PA      | $207236.90    | 0.10%             | 2045-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                     | Duke Energy Corp.                                                                 | CUSIP: 26441CBU8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    800000 | PA      | $720105.60    | 0.34%             | 2052-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EQT CORP                             | EQT Corp.                                                                         | CUSIP: 26884LAZ2<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    129000 | PA      | $133865.49    | 0.06%             | 2029-04-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ERAC USA FINANCE LLC                 | ERAC USA Finance LLC                                                              | CUSIP: 26884TAZ5<br>LEI: LTKX5ODQW6Z7BQ2K1V47 | Long             | DBT              | CORP              | US        |    377000 | PA      | $389451.56    | 0.19%             | 2034-10-30      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL             | Eagle Funding Luxco Sarl                                                          | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    585000 | PA      | $593886.15    | 0.28%             | 2030-08-17      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA             | Electricite de France S.A.                                                        | CUSIP: 28504KAA5<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $231787.00    | 0.11%             | 2071-12-15      | Variable      | 9.12%                 | Yes           |                  2 | On Loan: No      |
| ENBRIDGE INC                         | Enbridge, Inc.                                                                    | CUSIP: 29250NAN5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    180000 | PA      | $180539.64    | 0.09%             | 2077-01-15      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                         | Enbridge, Inc.                                                                    | CUSIP: 29250NBZ7<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $167450.10    | 0.08%             | 2053-11-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                         | Enbridge, Inc.                                                                    | CUSIP: 29250NCG8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    480000 | PA      | $507796.32    | 0.24%             | 2055-03-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                   | Energy Transfer LP                                                                | CUSIP: 29273VAW0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    108000 | PA      | $104540.22    | 0.05%             | 2054-05-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                 | Enel Finance International N.V.                                                   | CUSIP: 29278GBA5<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $345895.20    | 0.16%             | 2032-10-14      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                   | Energy Transfer LP                                                                | CUSIP: 29279FAA7<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    500000 | PA      | $504545.50    | 0.24%             | 2049-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| EnFin Residential Solar Receiv       | EnFin Residential Solar Receivables Trust 2024-2                                  | CUSIP: 29281EAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200129 | PA      | $191573.31    | 0.09%             | 2055-09-20      | Fixed         | 5.98%                 | Yes           |                  2 | On Loan: No      |
| EnFin Residential Solar Receiv       | EnFin Residential Solar Receivables Trust 2024-1                                  | CUSIP: 29281LAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    146128 | PA      | $145589.81    | 0.07%             | 2055-02-20      | Fixed         | 6.65%                 | Yes           |                  2 | On Loan: No      |
| ENTERGY CORP                         | Entergy Corp.                                                                     | CUSIP: 29364GAQ6<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |    433000 | PA      | $452436.50    | 0.22%             | 2054-12-01      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER             | Enterprise Products Operating LLC                                                 | CUSIP: 29379VAQ6<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    475000 | PA      | $529231.23    | 0.25%             | 2040-09-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER             | Enterprise Products Operating LLC                                                 | CUSIP: 29379VBR3<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    126000 | PA      | $125125.69    | 0.06%             | 2078-02-15      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER             | Enterprise Products Operating LLC                                                 | CUSIP: 29379VCB7<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    366000 | PA      | $249146.81    | 0.12%             | 2053-02-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| CDX.NA.HY.44 6/30 06/20/30   /       | CDX.NA.HY.44 6/30 06/20/30   /                                                    | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DCR              |  | US        |  -4500000 | NC      | $-4853715.89  | -2.31%            | 2030-06-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                    | Eversource Energy                                                                 | CUSIP: 30040WAX6<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |     97000 | PA      | $100156.57    | 0.05%             | 2034-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                          | Exelon Corp.                                                                      | CUSIP: 30161NAX9<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    905000 | PA      | $895393.43    | 0.43%             | 2030-04-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                          | Exelon Corp.                                                                      | CUSIP: 30161NBQ3<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    212000 | PA      | $221684.58    | 0.11%             | 2055-03-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP               | Extra Space Storage LP                                                            | CUSIP: 30225VAG2<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |    265000 | PA      | $230030.60    | 0.11%             | 2032-03-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                   | Meta Platforms, Inc.                                                              | CUSIP: 30303M8J4<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    335000 | PA      | $286807.24    | 0.14%             | 2052-08-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Regatta XXII Funding Ltd.            | Regatta XXII Funding Ltd.                                                         | CUSIP: 758968AN1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001499.90   | 0.48%             | 2035-07-20      | Floating      | 5.58%                 | Yes           |                  2 | On Loan: No      |
| REPSOL E&P CAP MARKETS               | Repsol E&P Capital Markets U.S. LLC                                               | CUSIP: 76026AAC1<br>LEI: 894500D0J12FRZ3Q0M15 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203647.20    | 0.10%             | 2035-09-16      | Fixed         | 5.98%                 | Yes           |                  2 | On Loan: No      |
| Retained Vantage Data Centers        | Retained Vantage Data Centers Issuer LLC                                          | CUSIP: 76134KAH7<br>LEI: 254900N4NW6XZ9B4HM15 | Long             | ABS-O            | CORP              | US        |    582000 | PA      | $583151.78    | 0.28%             | 2049-09-15      | Fixed         | 4.99%                 | Yes           |                  2 | On Loan: No      |
| Retained Vantage Data Centers        | Retained Vantage Data Centers Issuer LLC                                          | CUSIP: 76134KAM6<br>LEI: 254900N4NW6XZ9B4HM15 | Long             | ABS-O            | CORP              | US        |    103000 | PA      | $103298.60    | 0.05%             | 2050-08-15      | Fixed         | 5.09%                 | Yes           |                  2 | On Loan: No      |
| REXFORD INDUSTRIAL REALT             | Rexford Industrial Realty LP                                                      | CUSIP: 76169XAB0<br>LEI: 549300028US163ELJN70 | Long             | DBT              | CORP              | US        |    215000 | PA      | $187012.38    | 0.09%             | 2031-09-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                | Rio Tinto Finance USA PLC                                                         | CUSIP: 76720AAV8<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |    617000 | PA      | $634668.41    | 0.30%             | 2055-03-14      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                | Rio Tinto Finance USA PLC                                                         | CUSIP: 76720AAW6<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |    214000 | PA      | $222889.99    | 0.11%             | 2065-03-14      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ROLLS-ROYCE PLC                      | Rolls-Royce PLC                                                                   | CUSIP: 77578JAC2<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |    414000 | PA      | $425341.12    | 0.20%             | 2027-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ROMANIA                              | Romanian Government International Bond                                            | CUSIP: 77586RAV2<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    730000 | PA      | $702878.31    | 0.33%             | 2035-03-24      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                 | Royal Bank of Canada                                                              | CUSIP: 780082AR4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    900000 | PA      | $948440.70    | 0.45%             | 2084-05-02      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES              | Royal Caribbean Cruises Ltd.                                                      | CUSIP: 78017TAB9<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    735000 | PA      | $739487.91    | 0.35%             | 2036-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                   | Royalty Pharma PLC                                                                | CUSIP: 78081BAK9<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    829000 | PA      | $744471.02    | 0.35%             | 2030-09-02      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| SLAM LLC                             | SLAM 2025-1 Ltd.                                                                  | CUSIP: 78450TAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    244982 | PA      | $252544.76    | 0.12%             | 2050-05-15      | Fixed         | 5.81%                 | Yes           |                  2 | On Loan: No      |
| SABRA HEALTH CARE LP                 | Sabra Health Care LP                                                              | CUSIP: 78574MAA1<br>LEI: 549300OVKLRFSIQG0H81 | Long             | DBT              | CORP              | US        |    572000 | PA      | $519648.84    | 0.25%             | 2031-12-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Lin       | Santander Bank Auto Credit-Linked Notes Series 2024-B                             | CUSIP: 80280BAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $251120.25    | 0.12%             | 2033-01-18      | Fixed         | 5.14%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA               | Santander Holdings USA, Inc.                                                      | CUSIP: 80282KBF2<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |     78000 | PA      | $81411.88     | 0.04%             | 2029-03-09      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl       | Santander Drive Auto Receivables Trust 2022-5                                     | CUSIP: 80287HAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    113725 | PA      | $113826.57    | 0.05%             | 2028-10-16      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                 | Saudi Arabian Oil Co.                                                             | CUSIP: 80414L2P9<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    250000 | PA      | $248625.00    | 0.12%             | 2054-07-17      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| SIEMENS FUNDING BV                   | Siemens Funding B.V.                                                              | CUSIP: 82622RAF3<br>LEI: 213800CCRGH2TO338X64 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $214612.60    | 0.10%             | 2055-05-28      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP LP              | Simon Property Group LP                                                           | CUSIP: 828807DV6<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              | CORP              | US        |    159000 | PA      | $164860.42    | 0.08%             | 2053-03-08      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS             | South Bow USA Infrastructure Holdings LLC                                         | CUSIP: 83007CAF9<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    234000 | PA      | $235392.07    | 0.11%             | 2034-10-01      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES             | Delta Air Lines, Inc. / SkyMiles IP Ltd.                                          | CUSIP: 830867AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     10250 | PA      | $10246.23     | 0.00%             | 2025-10-20      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| SMB Private Education Loan Tru       | SMB Private Education Loan Trust 2017-B                                           | CUSIP: 83189DAC4<br>LEI: 549300NWENTZ8X7JUC78 | Long             | ABS-O            | CORP              | US        |     12532 | PA      | $12525.74     | 0.01%             | 2035-10-15      | Floating      | 5.01%                 | Yes           |                  2 | On Loan: No      |
| SMB Private Education Loan Tru       | SMB Private Education Loan Trust 2019-B                                           | CUSIP: 83192CAC1<br>LEI: 549300NWENTZ8X7JUC78 | Long             | ABS-O            | CORP              | US        |    231005 | PA      | $231119.93    | 0.11%             | 2037-06-15      | Floating      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| JM SMUCKER CO                        | J M Smucker Co.                                                                   | CUSIP: 832696AZ1<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |    574000 | PA      | $633397.52    | 0.30%             | 2053-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SMURFIT KAPPA TREASURY               | Smurfit Kappa Treasury ULC                                                        | CUSIP: 83272GAE1<br>LEI: 635400B3DOXSWFOWJT40 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $207366.40    | 0.10%             | 2034-04-03      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET             | Smyrna Ready Mix Concrete LLC                                                     | CUSIP: 83283WAE3<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |    430000 | PA      | $453718.37    | 0.22%             | 2031-11-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| SNAP INC                             | Snap, Inc.                                                                        | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    503000 | PA      | $514115.80    | 0.24%             | 2033-03-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| SOLVAY FINANCE (AMERICA)             | Syensqo Finance America LLC                                                       | CUSIP: 834423AF2<br>LEI: 54930073OEL5K0Y7NK81 | Long             | DBT              | CORP              | US        |    400000 | PA      | $418066.80    | 0.20%             | 2034-06-04      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                  | Southern California Edison Co.                                                    | CUSIP: 842400JJ3<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    139000 | PA      | $141780.00    | 0.07%             | 2030-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                  | Southern California Edison Co.                                                    | CUSIP: 842400JK0<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    249000 | PA      | $251169.79    | 0.12%             | 2055-09-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| STEEL DYNAMICS INC                   | Steel Dynamics, Inc.                                                              | CUSIP: 858119BS8<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |    295000 | PA      | $301431.30    | 0.14%             | 2035-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                | Toronto-Dominion Bank                                                             | CUSIP: 89116CKP1<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $368371.50    | 0.18%             | 2084-07-31      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| TOTALENERGIES CAPITAL SA             | TotalEnergies Capital S.A.                                                        | CUSIP: 89157XAB7<br>LEI: 529900QI55ZLJVCMPA71 | Long             | DBT              | CORP              | FR        |    277000 | PA      | $274006.74    | 0.13%             | 2054-04-05      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| TOTALENERGIES CAPITAL SA             | TotalEnergies Capital S.A.                                                        | CUSIP: 89157XAF8<br>LEI: 529900QI55ZLJVCMPA71 | Long             | DBT              | CORP              | FR        |    635000 | PA      | $610942.39    | 0.29%             | 2064-09-10      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA PIPELINES                | TransCanada PipeLines Ltd.                                                        | CUSIP: 89352HBG3<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |    736000 | PA      | $756267.97    | 0.36%             | 2065-06-01      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2020-1 A PTT              | United Airlines 2020-1 Class A Pass-Through Trust                                 | CUSIP: 90931GAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     86294 | PA      | $88714.03     | 0.04%             | 2029-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2019-2 AA PTT             | United Airlines 2019-2 Class AA Pass-Through Trust                                | CUSIP: 90932JAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    460946 | PA      | $422736.60    | 0.20%             | 2033-11-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                  | United Airlines, Inc.                                                             | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |     64000 | PA      | $63810.24     | 0.03%             | 2026-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| UNITED AIRLINES INC                  | United Airlines, Inc.                                                             | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    273000 | PA      | $268853.95    | 0.13%             | 2029-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| UNITED AIR 2023-1 A PTT              | United Airlines 2023-1 Class A Pass-Through Trust                                 | CUSIP: 90932LAJ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    144611 | PA      | $149569.20    | 0.07%             | 2037-07-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2018-1 B PTT              | United Airlines 2018-1 Class B Pass-Through Trust                                 | CUSIP: 90932NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120997 | PA      | $120361.26    | 0.06%             | 2027-09-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                | Mexico Government International Bond                                              | CUSIP: 91087BBC3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   1494000 | PA      | $1610606.70   | 0.77%             | 2037-05-13      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                            | Amgen, Inc.                                                                       | CUSIP: 031162DT4<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    146000 | PA      | $145645.66    | 0.07%             | 2053-03-02      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| AXIS Equipment Finance Receiva       | Amur Equipment Finance Receivables XI LLC                                         | CUSIP: 03236XAB3<br>LEI: 549300IFG1NMINYRYF89 | Long             | ABS-O            | CORP              | US        |     14865 | PA      | $14901.82     | 0.01%             | 2028-06-21      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL               | Anglo American Capital PLC                                                        | CUSIP: 034863BE9<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |    525000 | PA      | $551034.75    | 0.26%             | 2034-04-05      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ANGLOGOLD HOLDINGS PLC               | AngloGold Ashanti Holdings PLC                                                    | CUSIP: 03512TAE1<br>LEI: 213800745ZIXC4L6A131 | Long             | DBT              | CORP              | IM        |    516000 | PA      | $492284.12    | 0.23%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH CO/INBEV              | Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc.                    | CUSIP: 03522AAH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    635000 | PA      | $626677.69    | 0.30%             | 2036-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Aqua Finance Trust                   | Aqua Finance Issuer Trust 2025-B                                                  | CUSIP: 03837GAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    160449 | PA      | $161047.84    | 0.08%             | 2051-05-17      | Fixed         | 4.79%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                | Argentine Republic Government International Bond                                  | CUSIP: 040114HV5<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    325000 | PA      | $157982.50    | 0.08%             | 2041-07-09      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| ARIZONA PUBLIC SERVICE               | Arizona Public Service Co.                                                        | CUSIP: 040555CY8<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |    789000 | PA      | $643912.37    | 0.31%             | 2049-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO              | Arthur J. Gallagher & Co.                                                         | CUSIP: 04316JAP4<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |    287000 | PA      | $280640.65    | 0.13%             | 2055-02-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP              | Asbury Automotive Group, Inc.                                                     | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    425000 | PA      | $408089.25    | 0.19%             | 2032-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC                  | Ashtead Capital, Inc.                                                             | CUSIP: 045054AJ2<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    422000 | PA      | $418475.03    | 0.20%             | 2028-05-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC                  | Ashtead Capital, Inc.                                                             | CUSIP: 045054AR4<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    201000 | PA      | $212500.01    | 0.10%             | 2033-10-15      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                | Athene Global Funding                                                             | CUSIP: 04685A4S7<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   1225000 | PA      | $1241588.95   | 0.59%             | 2035-08-22      | Fixed         | 5.54%                 | Yes           |                  2 | On Loan: No      |
| Auxilior Term Funding LLC            | Auxilior Term Funding 2023-1 LLC                                                  | CUSIP: 05335JAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     31306 | PA      | $31534.74     | 0.01%             | 2028-12-15      | Fixed         | 6.18%                 | Yes           |                  2 | On Loan: No      |
| AVIANCA MIDCO 2 PLC                  | Avianca Midco 2 PLC                                                               | CUSIP: 05369YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    650000 | PA      | $646555.00    | 0.31%             | 2030-02-14      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding       | Avis Budget Rental Car Funding AESOP LLC                                          | CUSIP: 05377RKQ6<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    282000 | PA      | $289569.44    | 0.14%             | 2031-08-20      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| BAT CAPITAL CORP                     | BAT Capital Corp.                                                                 | CUSIP: 054989AA6<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    119000 | PA      | $128492.39    | 0.06%             | 2030-08-02      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                     | BAT Capital Corp.                                                                 | CUSIP: 054989AC2<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    400000 | PA      | $451204.40    | 0.21%             | 2043-08-02      | Fixed         | 7.08%                 | No            |                  2 | On Loan: No      |
| BAE SYSTEMS PLC                      | BAE Systems PLC                                                                   | CUSIP: 05523RAM9<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $202674.60    | 0.10%             | 2054-03-26      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| MARS INC                             | Mars, Inc.                                                                        | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    855000 | PA      | $873946.80    | 0.42%             | 2035-03-01      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| MARS INC                             | Mars, Inc.                                                                        | CUSIP: 571676BB0<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    557000 | PA      | $564877.09    | 0.27%             | 2045-05-01      | Fixed         | 5.65%                 | Yes           |                  2 | On Loan: No      |
| MASS MUTUAL LIFE INS CO              | Massachusetts Mutual Life Insurance Co.                                           | CUSIP: 575767AL2<br>LEI: R6ZXK5P01NP6HXSY1S07 | Long             | DBT              | CORP              | US        |    236000 | PA      | $199795.95    | 0.09%             | 2077-04-01      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC               | Match Group Holdings II LLC                                                       | CUSIP: 57667JAC6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    316000 | PA      | $318775.74    | 0.15%             | 2033-09-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| DUKE ENERGY CORP                     | Duke Energy Corp.                                                                 | CUSIP: 26441CCE3<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1040115.00   | 0.49%             | 2034-06-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY INDIANA LLC              | Duke Energy Indiana LLC                                                           | CUSIP: 26443TAD8<br>LEI: 6URPHM2EAWGJ2C6ISB97 | Long             | DBT              | CORP              | US        |    870000 | PA      | $850752.12    | 0.40%             | 2053-04-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| ENI SPA                              | Eni S.p.A.                                                                        | CUSIP: 26874RAP3<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |    241000 | PA      | $240766.71    | 0.11%             | 2054-05-15      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| ERAC USA FINANCE LLC                 | ERAC USA Finance LLC                                                              | CUSIP: 26882PBE1<br>LEI: LTKX5ODQW6Z7BQ2K1V47 | Long             | DBT              | CORP              | US        |    750000 | PA      | $874893.75    | 0.42%             | 2037-10-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| META PLATFORMS INC                   | Meta Platforms, Inc.                                                              | CUSIP: 30303M8V7<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    556000 | PA      | $548682.48    | 0.26%             | 2054-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| FARMERS INS EXCH                     | Farmers Insurance Exchange                                                        | CUSIP: 309601AE2<br>LEI: 549300UWG2TLX1GZVT44 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $883476.30    | 0.42%             | 2057-11-01      | Variable      | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd       | Golub Capital Partners Clo 47M Ltd.                                               | CUSIP: 381948AG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250853.00    | 0.12%             | 2037-08-05      | Floating      | 6.72%                 | Yes           |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER               | Goodyear Tire & Rubber Co.                                                        | CUSIP: 382550BS9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    500000 | PA      | $507031.50    | 0.24%             | 2030-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| HCA INC                              | HCA, Inc.                                                                         | CUSIP: 404119BW8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    500000 | PA      | $520792.50    | 0.25%             | 2029-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HCA INC                              | HCA, Inc.                                                                         | CUSIP: 404119CU1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    179000 | PA      | $186050.27    | 0.09%             | 2034-04-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| HCA INC                              | HCA, Inc.                                                                         | CUSIP: 404119DC0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    595000 | PA      | $613907.91    | 0.29%             | 2055-03-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                    | HSBC Holdings PLC                                                                 | CUSIP: 404280CF4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    224000 | PA      | $229783.01    | 0.11%             | 2030-03-31      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                    | HSBC Holdings PLC                                                                 | CUSIP: 404280FB0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    620000 | PA      | $632711.86    | 0.30%             | 2036-09-10      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                   | Royalty Pharma PLC                                                                | CUSIP: 78081BAN3<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    320000 | PA      | $278765.44    | 0.13%             | 2031-09-02      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                     | Ryder System, Inc.                                                                | CUSIP: 78355HKY4<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |    367000 | PA      | $411034.13    | 0.20%             | 2033-12-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                      | SBA Tower Trust                                                                   | CUSIP: 78403DAX8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    462000 | PA      | $408503.17    | 0.19%             | 2031-10-15      | Fixed         | 2.59%                 | Yes           |                  2 | On Loan: No      |
| SLAM 2021-1 LLC                      | Slam 2021-1 Ltd.                                                                  | CUSIP: 78449AAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    962090 | PA      | $918325.11    | 0.44%             | 2046-06-15      | Fixed         | 2.43%                 | Yes           |                  2 | On Loan: No      |
| SOUTHERN CO GAS CAPITAL              | Southern Co. Gas Capital Corp.                                                    | CUSIP: 8426EPAB4<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |    121000 | PA      | $95685.71     | 0.05%             | 2046-10-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO GAS CAPITAL              | Southern Co. Gas Capital Corp.                                                    | CUSIP: 8426EPAC2<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |    822000 | PA      | $690079.69    | 0.33%             | 2047-05-30      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                            | Block, Inc.                                                                       | CUSIP: 852234AT0<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65854.75     | 0.03%             | 2030-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| STATE STREET CORP                    | State Street Corp.                                                                | CUSIP: 857477CH4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EP               | CORP              | US        |    278000 | PA      | $289358.25    | 0.14%             | 2029-03-15      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| STELLANTIS FINANCIAL SER             | Stellantis Financial Services U.S. Corp.                                          | CUSIP: 85855FAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    516000 | PA      | $515769.86    | 0.25%             | 2028-09-15      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| STERIS PLC                           | STERIS Irish FinCo UnLtd Co.                                                      | CUSIP: 85917PAA5<br>LEI: 549300BRDKZ1HFI2J358 | Long             | DBT              | CORP              | IE        |    323000 | PA      | $294405.78    | 0.14%             | 2031-03-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| STORE CAPITAL LLC                    | Store Capital LLC                                                                 | CUSIP: 862123AA4<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              | CORP              | US        |    564000 | PA      | $574547.36    | 0.27%             | 2030-04-30      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                   | Energy Transfer LP                                                                | CUSIP: 86765BAV1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    275000 | PA      | $251524.90    | 0.12%             | 2047-10-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| SUZANO AUSTRIA GMBH                  | Suzano Austria GmbH                                                               | CUSIP: 86964WAJ1<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |    313000 | PA      | $296166.86    | 0.14%             | 2031-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TIF Funding II LLC                   | TIF Funding II LLC                                                                | CUSIP: 872480AE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    360910 | PA      | $329138.01    | 0.16%             | 2046-02-20      | Fixed         | 1.65%                 | Yes           |                  2 | On Loan: No      |
| T-MOBILE USA INC                     | T-Mobile USA, Inc.                                                                | CUSIP: 87264ACZ6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     48000 | PA      | $48926.98     | 0.02%             | 2028-03-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Taco Bell Funding, LLC               | Taco Bell Funding LLC                                                             | CUSIP: 87342RAL8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    394848 | PA      | $395846.57    | 0.19%             | 2055-08-25      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| TAKEDA PHARMACEUTICAL                | Takeda Pharmaceutical Co., Ltd.                                                   | CUSIP: 874060AZ9<br>LEI: 549300ZLMVP4X0OGR454 | Long             | DBT              | CORP              | JP        |    545000 | PA      | $368506.11    | 0.18%             | 2050-07-09      | Fixed         | 3.17%                 | No            |                  2 | On Loan: No      |
| TAKEDA PHARMACEUTICAL                | Takeda Pharmaceutical Co., Ltd.                                                   | CUSIP: 874060BK1<br>LEI: 549300ZLMVP4X0OGR454 | Long             | DBT              | CORP              | JP        |    651000 | PA      | $670735.07    | 0.32%             | 2034-07-05      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS             | Targa Resources Partners LP / Targa Resources Partners Finance Corp.              | CUSIP: 87612BBQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    809000 | PA      | $823088.74    | 0.39%             | 2030-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                 | Targa Resources Corp.                                                             | CUSIP: 87612GAP6<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    462000 | PA      | $469333.33    | 0.22%             | 2030-09-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| TEREX CORP                           | Terex Corp.                                                                       | CUSIP: 880779BB8<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |    175000 | PA      | $178273.03    | 0.08%             | 2032-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Tesla Auto Lease Trust               | Tesla Auto Lease Trust 2023-B                                                     | CUSIP: 88167QAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     49335 | PA      | $49420.92     | 0.02%             | 2026-09-21      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| TIF Funding III LLC                  | TIF Funding III LLC                                                               | CUSIP: 88655AAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    295538 | PA      | $296516.02    | 0.14%             | 2049-04-20      | Fixed         | 5.48%                 | Yes           |                  2 | On Loan: No      |
| TIME WARNER CABLE LLC                | Time Warner Cable LLC                                                             | CUSIP: 88732JAJ7<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |    489000 | PA      | $508145.82    | 0.24%             | 2037-05-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                | Toronto-Dominion Bank                                                             | CUSIP: 89115A2S0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    382000 | PA      | $386223.01    | 0.18%             | 2026-07-17      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                        | TransDigm, Inc.                                                                   | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     52000 | PA      | $52992.47     | 0.03%             | 2028-08-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| TRITON CONTAINER                     | Triton Container International Ltd.                                               | CUSIP: 89680YAC9<br>LEI: 549300O4LZFLCX53XZ54 | Long             | DBT              | CORP              | BM        |    160000 | PA      | $142720.96    | 0.07%             | 2031-06-15      | Fixed         | 3.15%                 | Yes           |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                | Truist Financial Corp.                                                            | CUSIP: 89788MAP7<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     66000 | PA      | $69934.46     | 0.03%             | 2034-06-08      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                 | Cross 2024-H2 Mortgage Trust                                                      | CUSIP: 22757BAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    170034 | PA      | $171782.81    | 0.08%             | 2069-04-25      | Variable      | 6.42%                 | Yes           |                  2 | On Loan: No      |
| CUBESMART LP                         | CubeSmart LP                                                                      | CUSIP: 22966RAK2<br>LEI: 549300MPHKO3I3FJRA97 | Long             | DBT              | CORP              | US        |    715000 | PA      | $712166.46    | 0.34%             | 2035-11-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CyrusOne Data Centers Issuer I       | CyrusOne Data Centers Issuer I LLC                                                | CUSIP: 23284BAJ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    503000 | PA      | $515077.03    | 0.24%             | 2050-02-20      | Fixed         | 5.91%                 | Yes           |                  2 | On Loan: No      |
| DB Master Finance LLC                | DB Master Finance LLC                                                             | CUSIP: 233046AN1<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |    598675 | PA      | $583375.26    | 0.28%             | 2051-11-20      | Fixed         | 2.04%                 | Yes           |                  2 | On Loan: No      |
| DT MIDSTREAM INC                     | DT Midstream, Inc.                                                                | CUSIP: 23345MAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    358000 | PA      | $342485.35    | 0.16%             | 2032-04-15      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| FIRST INDUSTRIAL LP                  | First Industrial LP                                                               | CUSIP: 32055RAS6<br>LEI: 86MKNB3IKYZZT3E3OV11 | Long             | DBT              | CORP              | US        |    407000 | PA      | $417402.51    | 0.20%             | 2031-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Flexential Issuer, LLC               | Flexential Issuer 2021-1                                                          | CUSIP: 33938MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    545000 | PA      | $529083.28    | 0.25%             | 2051-11-27      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/F       | Ford Credit Auto Owner Trust 2024-REV1                                            | CUSIP: 34533BAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    194000 | PA      | $198621.86    | 0.09%             | 2036-08-15      | Variable      | 4.87%                 | Yes           |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust         | Ford Credit Auto Owner Trust 2022-C                                               | CUSIP: 34535AAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    370000 | PA      | $372406.85    | 0.18%             | 2028-02-15      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC             | Ford Motor Credit Co. LLC                                                         | CUSIP: 345397D67<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    550000 | PA      | $588016.55    | 0.28%             | 2033-11-07      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC             | Ford Motor Credit Co. LLC                                                         | CUSIP: 345397D83<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    204000 | PA      | $206092.43    | 0.10%             | 2027-03-05      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Fortress Credit Opportunities        | Fortress Credit Opportunities IX CLO Ltd.                                         | CUSIP: 34961JAY0<br>LEI: 2549008RD44HDM6DNP14 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1501030.35   | 0.71%             | 2033-10-15      | Floating      | 6.13%                 | Yes           |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                | Foundry JV Holdco LLC                                                             | CUSIP: 350930AK9<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    500000 | PA      | $537690.00    | 0.26%             | 2039-01-25      | Fixed         | 6.30%                 | Yes           |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                 | Glencore Funding LLC                                                              | CUSIP: 378272BV9<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    220000 | PA      | $221988.36    | 0.11%             | 2054-04-04      | Fixed         | 5.89%                 | Yes           |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                  | Global Payments, Inc.                                                             | CUSIP: 37940XAQ5<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    450000 | PA      | $460397.70    | 0.22%             | 2032-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE              | Global Partners LP / GLP Finance Corp.                                            | CUSIP: 37954FAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     68000 | PA      | $68593.37     | 0.03%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE              | Global Partners LP / GLP Finance Corp.                                            | CUSIP: 37954FAK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    518000 | PA      | $546332.53    | 0.26%             | 2032-01-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE              | Global Partners LP / GLP Finance Corp.                                            | CUSIP: 37954FAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $174247.11    | 0.08%             | 2033-07-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC              | Goldman Sachs Group, Inc.                                                         | CUSIP: 38141GB29<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1787000 | PA      | $1832150.34   | 0.87%             | 2030-07-23      | Variable      | 5.05%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC              | Goldman Sachs Group, Inc.                                                         | CUSIP: 38141GB86<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    391000 | PA      | $396674.97    | 0.19%             | 2045-11-19      | Variable      | 5.56%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC              | Goldman Sachs Group, Inc.                                                         | CUSIP: 38141GC51<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    519000 | PA      | $537987.62    | 0.26%             | 2056-01-28      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC              | Goldman Sachs Group, Inc.                                                         | CUSIP: 38141GES9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    209000 | PA      | $214168.78    | 0.10%             | 2027-01-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC              | Goldman Sachs Group, Inc.                                                         | CUSIP: 38141GFD1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    250000 | PA      | $280091.25    | 0.13%             | 2037-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC              | Goldman Sachs Group, Inc.                                                         | CUSIP: 38141GVX9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    790000 | PA      | $801976.40    | 0.38%             | 2027-10-28      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC              | Goldman Sachs Group, Inc.                                                         | CUSIP: 38141GXR0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1640000 | PA      | $1447372.16   | 0.69%             | 2032-01-27      | Variable      | 1.99%                 | No            |                  2 | On Loan: No      |
| Jersey Mikes Funding LLC             | Jersey Mike's Funding LLC                                                         | CUSIP: 476681AD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    158205 | PA      | $161249.18    | 0.08%             | 2055-02-15      | Fixed         | 5.64%                 | Yes           |                  2 | On Loan: No      |
| Jersey Mikes Funding LLC             | Jersey Mike's Funding                                                             | CUSIP: 476681AE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    133000 | PA      | $136002.87    | 0.06%             | 2055-08-16      | Fixed         | 5.61%                 | Yes           |                  2 | On Loan: No      |
| KILROY REALTY LP                     | Kilroy Realty LP                                                                  | CUSIP: 49427RAT9<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              | CORP              | US        |    342000 | PA      | $346452.84    | 0.16%             | 2035-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| KROGER CO                            | Kroger Co.                                                                        | CUSIP: 501044DW8<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    151000 | PA      | $147069.92    | 0.07%             | 2054-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MEDCO CYPRESS TREE PTE               | Medco Cypress Tree Pte Ltd.                                                       | CUSIP: 58406VAA7<br>LEI: 254900NKZ2Y3YZK4WC46 | Long             | DBT              | CORP              | SG        |    420000 | PA      | $442957.20    | 0.21%             | 2030-05-19      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| METLIFE INC                          | MetLife, Inc.                                                                     | CUSIP: 59156RAP3<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1210303.70   | 0.58%             | 2066-12-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| METLIFE INC                          | MetLife, Inc.                                                                     | CUSIP: 59156RAV0<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    333000 | PA      | $444875.35    | 0.21%             | 2039-08-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| METLIFE INC                          | MetLife, Inc.                                                                     | CUSIP: 59156RBS6<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   1219000 | PA      | $1462049.10   | 0.69%             | 2038-04-08      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| MetroNet Infrastructure Issuer       | MetroNet Infrastructure Issuer LLC                                                | CUSIP: 59170JAX6<br>LEI: 5493000BIROCAEATAQ61 | Long             | ABS-O            | CORP              | US        |    193893 | PA      | $196548.56    | 0.09%             | 2055-08-20      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: No      |
| FIRSTENERGY PENN ELECTRI             | FirstEnergy Pennsylvania Electric Co.                                             | CUSIP: 591894CC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    354000 | PA      | $353761.76    | 0.17%             | 2029-01-15      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| MICROSOFT CORP                       | Microsoft Corp.                                                                   | CUSIP: 594918CD4<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    151000 | PA      | $90226.58     | 0.04%             | 2060-06-01      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                | Micron Technology, Inc.                                                           | CUSIP: 595112BS1<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    166000 | PA      | $147715.93    | 0.07%             | 2032-04-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                | Micron Technology, Inc.                                                           | CUSIP: 595112CD3<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    109000 | PA      | $112815.00    | 0.05%             | 2031-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                       | Morgan Stanley                                                                    | CUSIP: 61747YEU5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    575000 | PA      | $583814.75    | 0.28%             | 2033-07-20      | Variable      | 4.89%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                       | Morgan Stanley                                                                    | CUSIP: 61747YFJ9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1415000 | PA      | $1582500.63   | 0.75%             | 2034-11-01      | Variable      | 6.63%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                       | Morgan Stanley                                                                    | CUSIP: 61747YFS9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1281433.75   | 0.61%             | 2030-07-19      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| NBM US HOLDINGS INC                  | NBM U.S. Holdings, Inc.                                                           | CUSIP: 62877VAB7<br>LEI: 5493008K1QMSP0J8UC24 | Long             | DBT              | CORP              | US        |    600000 | PA      | $607497.60    | 0.29%             | 2029-08-06      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| NBN CO LTD                           | NBN Co., Ltd.                                                                     | CUSIP: 62878U2J0<br>LEI: 2549007CRZ2NT7S96A24 | Long             | DBT              | CORP              | AU        |    595000 | PA      | $594929.20    | 0.28%             | 2029-10-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| NCL CORPORATION LTD                  | NCL Corp. Ltd.                                                                    | CUSIP: 62886HBP5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    584000 | PA      | $591143.49    | 0.28%             | 2030-03-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| NCL CORPORATION LTD                  | NCL Corp. Ltd.                                                                    | CUSIP: 62886HBY6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    273000 | PA      | $272900.08    | 0.13%             | 2031-01-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| NGPL PIPECO LLC                      | NGPL PipeCo LLC                                                                   | CUSIP: 62912XAC8<br>LEI: 549300K3NT1HSQFEM073 | Long             | DBT              | CORP              | US        |    737000 | PA      | $850688.88    | 0.40%             | 2037-12-15      | Fixed         | 7.77%                 | Yes           |                  2 | On Loan: No      |
| NGPL PIPECO LLC                      | NGPL PipeCo LLC                                                                   | CUSIP: 62912XAF1<br>LEI: 549300K3NT1HSQFEM073 | Long             | DBT              | CORP              | US        |    820000 | PA      | $822074.60    | 0.39%             | 2027-08-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| NRG ENERGY INC                       | NRG Energy, Inc.                                                                  | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    363000 | PA      | $363134.31    | 0.17%             | 2036-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mortgage Loan        | New Residential Mortgage Loan Trust 2021-NQM2R                                    | CUSIP: 64831EAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     90956 | PA      | $89615.41     | 0.04%             | 2058-10-25      | Variable      | 0.94%                 | Yes           |                  2 | On Loan: No      |
| NEW YORK NY                          | City of New York NY                                                               | CUSIP: 64966SNJ1<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    250000 | PA      | $267280.50    | 0.13%             | 2055-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL               | NextEra Energy Capital Holdings, Inc.                                             | CUSIP: 65339KDF4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    327000 | PA      | $346331.91    | 0.16%             | 2055-08-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                         | NiSource, Inc.                                                                    | CUSIP: 65473PAJ4<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    218000 | PA      | $211133.87    | 0.10%             | 2030-05-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                         | NiSource, Inc.                                                                    | CUSIP: 65473PAP0<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    112000 | PA      | $116107.82    | 0.06%             | 2033-06-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| NORFOLK SOUTHERN CORP                | Norfolk Southern Corp.                                                            | CUSIP: 655844CT3<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |    136000 | PA      | $144125.59    | 0.07%             | 2034-03-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| VALE OVERSEAS LIMITED                | Vale Overseas Ltd.                                                                | CUSIP: 91911TAS2<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |    146000 | PA      | $150076.47    | 0.07%             | 2054-06-28      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                | Venture Global Plaquemines LNG LLC                                                | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    561000 | PA      | $595882.42    | 0.28%             | 2036-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS               | Verizon Communications, Inc.                                                      | CUSIP: 92343VEU4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    615000 | PA      | $610835.84    | 0.29%             | 2029-12-03      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS               | Verizon Communications, Inc.                                                      | CUSIP: 92343VGB4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    664000 | PA      | $486511.47    | 0.23%             | 2051-03-22      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                         | Barclays PLC                                                                      | CUSIP: 06738EDE2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    354000 | PA      | $363361.88    | 0.17%             | 2046-08-11      | Variable      | 5.86%                 | No            |                  2 | On Loan: No      |
| BAYER US FINANCE LLC                 | Bayer U.S. Finance LLC                                                            | CUSIP: 07274EAL7<br>LEI: 54930093Q75GSEM74I71 | Long             | DBT              | CORP              | US        |    247000 | PA      | $266296.63    | 0.13%             | 2033-11-21      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| BAYER US FINANCE II LLC              | Bayer U.S. Finance II LLC                                                         | CUSIP: 07274NAN3<br>LEI: 529900XWNEXYNJ3X6T40 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $905282.00    | 0.43%             | 2038-06-25      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| BIMBO BAKERIES USA INC               | Bimbo Bakeries USA, Inc.                                                          | CUSIP: 09031WAA1<br>LEI: 549300HOXXHHT7926W92 | Long             | DBT              | CORP              | US        |    352000 | PA      | $266087.36    | 0.13%             | 2051-05-17      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| BIMBO BAKERIES USA INC               | Bimbo Bakeries USA, Inc.                                                          | CUSIP: 09031WAD5<br>LEI: 549300HOXXHHT7926W92 | Long             | DBT              | CORP              | US        |    376000 | PA      | $409673.43    | 0.19%             | 2034-01-15      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| BLACK HILLS CORP                     | Black Hills Corp.                                                                 | CUSIP: 092113AW9<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |    700000 | PA      | $747752.60    | 0.36%             | 2034-05-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Blackbird Capital Aircraft           | Blackbird Capital II Aircraft Lease Ltd.                                          | CUSIP: 09229CAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    235889 | PA      | $224871.94    | 0.11%             | 2046-07-15      | Fixed         | 3.45%                 | Yes           |                  2 | On Loan: No      |
| Blackrock CLO                        | BlackRock Shasta CLO XIII LLC                                                     | CUSIP: 09263EAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    665000 | PA      | $665835.24    | 0.32%             | 2036-07-15      | Floating      | 6.17%                 | Yes           |                  2 | On Loan: No      |
| BOEING CO                            | Boeing Co.                                                                        | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    556000 | PA      | $555342.81    | 0.26%             | 2050-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                        | Boeing Co.                                                                        | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    193000 | PA      | $219796.89    | 0.10%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                       | Bombardier, Inc.                                                                  | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    136000 | PA      | $141916.68    | 0.07%             | 2033-06-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                  | Braskem Netherlands Finance B.V.                                                  | CUSIP: 10554TAE5<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    349000 | PA      | $125727.25    | 0.06%             | 2050-01-31      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                  | Braskem Netherlands Finance B.V.                                                  | CUSIP: 10554TAJ4<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    460000 | PA      | $171810.00    | 0.08%             | 2034-10-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus       | BRAVO Residential Funding Trust Series 2025-NQM8                                  | CUSIP: 10571JAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    138103 | PA      | $138297.41    | 0.07%             | 2065-06-25      | Variable      | 5.08%                 | Yes           |                  2 | On Loan: No      |
| FED REPUBLIC OF BRAZIL               | Brazilian Government International Bond                                           | CUSIP: 105756CM0<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   1000000 | PA      | $1019300.00   | 0.48%             | 2030-11-06      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO              | Bristol-Myers Squibb Co.                                                          | CUSIP: 110122EK0<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    864000 | PA      | $861006.24    | 0.41%             | 2054-02-22      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| BRITISH AIR 20-1 A PTT               | British Airways 2020-1 Class A Pass-Through Trust                                 | CUSIP: 11044MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     82743 | PA      | $80664.83     | 0.04%             | 2032-11-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| BROADCOM INC                         | Broadcom, Inc.                                                                    | CUSIP: 11135FBL4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1026213.75   | 0.49%             | 2034-04-15      | Fixed         | 3.47%                 | Yes           |                  2 | On Loan: No      |
| BROADCOM INC                         | Broadcom, Inc.                                                                    | CUSIP: 11135FBQ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1030000 | PA      | $879355.29    | 0.42%             | 2036-11-15      | Fixed         | 3.19%                 | Yes           |                  2 | On Loan: No      |
| BROWN & BROWN INC                    | Brown & Brown, Inc.                                                               | CUSIP: 115236AM3<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    115000 | PA      | $118310.74    | 0.06%             | 2035-06-23      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC             | Builders FirstSource, Inc.                                                        | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    418000 | PA      | $430589.32    | 0.20%             | 2034-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| CIGNA GROUP/THE                      | Cigna Group                                                                       | CUSIP: 125523AK6<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    595000 | PA      | $533734.04    | 0.25%             | 2048-12-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                      | Cigna Group                                                                       | CUSIP: 125523DA5<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    184000 | PA      | $190819.59    | 0.09%             | 2056-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CLI Funding LLC                      | CLI Funding IX LLC                                                                | CUSIP: 12571WAG8<br>LEI: 2549008S2Z91ASJFZL83 | Long             | ABS-O            | CORP              | US        |    316740 | PA      | $320791.95    | 0.15%             | 2050-06-20      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| CMS ENERGY CORP                      | CMS Energy Corp.                                                                  | CUSIP: 125896BV1<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |    229000 | PA      | $211401.58    | 0.10%             | 2050-12-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| CSX CORP                             | CSX Corp.                                                                         | CUSIP: 126408HY2<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |   1040000 | PA      | $953743.44    | 0.45%             | 2055-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                  | COMM 2020-CX Mortgage Trust                                                       | CUSIP: 12656KAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    109000 | PA      | $89513.31     | 0.04%             | 2046-11-10      | Variable      | 2.77%                 | Yes           |                  2 | On Loan: No      |
| CVS HEALTH CORP                      | CVS Health Corp.                                                                  | CUSIP: 126650EE6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    322000 | PA      | $326454.55    | 0.16%             | 2044-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COTERRA ENERGY INC                   | Coterra Energy, Inc.                                                              | CUSIP: 127097AM5<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | DBT              | CORP              | US        |    604000 | PA      | $608948.57    | 0.29%             | 2035-02-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO             | Capital One Financial Corp.                                                       | CUSIP: 14040HDC6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    600000 | PA      | $678796.20    | 0.32%             | 2031-10-30      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                        | Carnival Corp.                                                                    | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    300000 | PA      | $304254.60    | 0.14%             | 2029-05-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| CARNIVAL CORP                        | Carnival Corp.                                                                    | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    121000 | PA      | $124025.24    | 0.06%             | 2033-02-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| CARNIVAL CORP                        | Carnival Corp.                                                                    | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    365000 | PA      | $371383.85    | 0.18%             | 2032-08-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| CEMEX SAB DE CV                      | Cemex S.A.B. de C.V.                                                              | CUSIP: 151290CC5<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $207710.00    | 0.10%             | 2099-06-10      | Variable      | 7.20%                 | Yes           |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC               | CenterPoint Energy, Inc.                                                          | CUSIP: 15189TBP1<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |    403000 | PA      | $416439.65    | 0.20%             | 2055-05-15      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| Centersquare Issuer LLC              | Centersquare Issuer LLC                                                           | CUSIP: 15201EAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    450000 | PA      | $444280.05    | 0.21%             | 2055-03-26      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Cerberus                             | Cerberus Loan Funding XLIX LLC                                                    | CUSIP: 15675LAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    850000 | PA      | $847673.55    | 0.40%             | 2034-01-15      | Floating      | 5.67%                 | Yes           |                  2 | On Loan: No      |
| FRONERI LUX FINCO SARL               | Froneri Lux FinCo SARL                                                            | CUSIP: 35901MAA5<br>LEI: 9845005YBZ75E5AA3B94 | Long             | DBT              | CORP              | LU        |    515000 | PA      | $515617.49    | 0.25%             | 2032-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| GENERAL MOTORS CO                    | General Motors Co.                                                                | CUSIP: 37045VBA7<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1410419.28   | 0.67%             | 2030-04-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO               | General Motors Financial Co., Inc.                                                | CUSIP: 37045XCY0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    797000 | PA      | $759541.80    | 0.36%             | 2030-06-21      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO               | General Motors Financial Co., Inc.                                                | CUSIP: 37045XDE3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1213000 | PA      | $1074995.78   | 0.51%             | 2031-01-08      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| HP INC                               | HP, Inc.                                                                          | CUSIP: 40434LAR6<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    839000 | PA      | $870954.99    | 0.41%             | 2030-04-25      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| HARBOUR ENERGY PLC                   | Harbour Energy PLC                                                                | CUSIP: 411618AD3<br>LEI: 213800YPC42DYBKVPF97 | Long             | DBT              | CORP              | GB        |    303000 | PA      | $310641.36    | 0.15%             | 2035-04-01      | Fixed         | 6.33%                 | Yes           |                  2 | On Loan: No      |
| HAWAIIAN ELEC CO                     | Hawaiian Electric Co., Inc.                                                       | CUSIP: 419866AV0<br>LEI: 549300PQE8D806LWQV52 | Long             | DBT              | CORP              | US        |    164000 | PA      | $165357.59    | 0.08%             | 2033-10-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| HERC HOLDINGS INC                    | Herc Holdings, Inc.                                                               | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    336000 | PA      | $335165.04    | 0.16%             | 2027-07-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION             | Hess Midstream Operations LP                                                      | CUSIP: 428104AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $129852.45    | 0.06%             | 2028-06-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| HP ENTERPRISE CO                     | Hewlett Packard Enterprise Co.                                                    | CUSIP: 42824CBV0<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    804000 | PA      | $797779.45    | 0.38%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HIGH STREET FDG TRUST II             | High Street Funding Trust II                                                      | CUSIP: 42981DAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    232000 | PA      | $203528.96    | 0.10%             | 2048-02-15      | Fixed         | 4.68%                 | Yes           |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust         | Hilton Grand Vacations Trust 2023-1                                               | CUSIP: 432917AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40034 | PA      | $40847.05     | 0.02%             | 2038-01-25      | Fixed         | 5.72%                 | Yes           |                  2 | On Loan: No      |
| HOME DEPOT INC                       | Home Depot, Inc.                                                                  | CUSIP: 437076DF6<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    805000 | PA      | $787826.94    | 0.37%             | 2054-06-25      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY              | Howard Midstream Energy Partners LLC                                              | CUSIP: 442722AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     59000 | PA      | $61247.31     | 0.03%             | 2032-07-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY              | Howard Midstream Energy Partners LLC                                              | CUSIP: 442722AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    149000 | PA      | $151852.90    | 0.07%             | 2034-01-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| The Huntington National Bank         | Huntington Bank Auto Credit-Linked Notes Series 2025-1                            | CUSIP: 446438SX2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    230472 | PA      | $231905.10    | 0.11%             | 2033-03-21      | Fixed         | 4.96%                 | Yes           |                  2 | On Loan: No      |
| The Huntington National Bank         | Huntington Bank Auto Credit-Linked Notes Series 2024-2                            | CUSIP: 44644NAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    160004 | PA      | $161602.42    | 0.08%             | 2032-10-20      | Fixed         | 5.44%                 | Yes           |                  2 | On Loan: No      |
| Hudson Yards                         | Hudson Yards 2025-SPRL Mortgage Trust                                             | CUSIP: 44855PAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    138000 | PA      | $142948.40    | 0.07%             | 2040-01-13      | Variable      | 6.15%                 | Yes           |                  2 | On Loan: No      |
| IBM INTERNAT CAPITAL                 | IBM International Capital Pte Ltd.                                                | CUSIP: 449276AG9<br>LEI: 2549007KTXQQBYZO7485 | Long             | DBT              | CORP              | SG        |    313000 | PA      | $299354.77    | 0.14%             | 2054-02-05      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| MAYA SAS/FRANCE                      | Maya SAS/Paris France                                                             | CUSIP: 449691AF1<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $214497.20    | 0.10%             | 2031-04-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| ING GROEP NV                         | ING Groep N.V.                                                                    | CUSIP: 456837BT9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    398000 | PA      | $410025.17    | 0.19%             | 2173-11-16      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                           | Intel Corp.                                                                       | CUSIP: 458140CJ7<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    234000 | PA      | $226296.95    | 0.11%             | 2053-02-10      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                           | Intel Corp.                                                                       | CUSIP: 458140CL2<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    724000 | PA      | $734078.80    | 0.35%             | 2034-02-21      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BRIGHTSTAR LOTTERY PLC               | Brightstar Lottery PLC                                                            | CUSIP: 460599AE3<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    930000 | PA      | $925920.09    | 0.44%             | 2029-01-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Invesco CLO Ltd                      | Invesco U.S. CLO 2023-3 Ltd.                                                      | CUSIP: 46091RAL7<br>LEI: 213800YAVR2FVYDIRM63 | Long             | ABS-CBDO         | CORP              | JE        |    550000 | PA      | $551483.90    | 0.26%             | 2038-07-15      | Floating      | 5.63%                 | Yes           |                  2 | On Loan: No      |
| IPALCO ENTERPRISES INC               | IPALCO Enterprises, Inc.                                                          | CUSIP: 462613AP5<br>LEI: 5493000YFVK2DZX0JV43 | Long             | DBT              | CORP              | US        |    307000 | PA      | $300576.03    | 0.14%             | 2030-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| STATE OF ISRAEL                      | Israel Government International Bond                                              | CUSIP: 46514BRM1<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | NUSS              | IL        |    954000 | PA      | $896909.78    | 0.43%             | 2054-03-12      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ITHACA ENERGY NORTH                  | Ithaca Energy North Sea PLC                                                       | CUSIP: 46567TAC8<br>LEI: 213800BMMUN3AKWBIO91 | Long             | DBT              | CORP              | GB        |    540000 | PA      | $564142.32    | 0.27%             | 2029-10-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD/LUX CO             | JBS USA Holding Lux Sarl/ JBS USA Food Co./ JBS Lux Co. Sarl                      | CUSIP: 46590XAU0<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    206000 | PA      | $192128.17    | 0.09%             | 2032-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Ivy Hill Middle Market Credit        | IVY Hill Middle Market Credit Fund XII Ltd.                                       | CUSIP: 46600CBE9<br>LEI: 5493003XZKSFJKWICW70 | Long             | ABS-CBDO         | CORP              | KY        |    473000 | PA      | $471199.76    | 0.22%             | 2037-04-20      | Floating      | 6.33%                 | Yes           |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                  | JPMorgan Chase & Co.                                                              | CUSIP: 46647PCC8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1280000 | PA      | $1163633.92   | 0.55%             | 2032-04-22      | Variable      | 2.58%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                  | JPMorgan Chase & Co.                                                              | CUSIP: 46647PDR4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1551000 | PA      | $1616401.02   | 0.77%             | 2034-06-01      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                  | JPMorgan Chase & Co.                                                              | CUSIP: 46647PDU7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    287000 | PA      | $295744.60    | 0.14%             | 2029-07-24      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                  | JPMorgan Chase & Co.                                                              | CUSIP: 46647PEC6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1009000 | PA      | $1047238.07   | 0.50%             | 2035-01-23      | Variable      | 5.34%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                  | JPMorgan Chase & Co.                                                              | CUSIP: 46647PES1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    482000 | PA      | $495245.84    | 0.24%             | 2045-11-29      | Variable      | 5.53%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                  | JPMorgan Chase & Co.                                                              | CUSIP: 46647PEW2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    307000 | PA      | $321226.69    | 0.15%             | 2036-01-24      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                  | JPMorgan Chase & Co.                                                              | CUSIP: 46647PFC5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    514000 | PA      | $532440.78    | 0.25%             | 2036-07-23      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust             | JP Morgan Mortgage Trust Series 2024-CES1                                         | CUSIP: 46658CAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    155773 | PA      | $157236.18    | 0.07%             | 2054-06-25      | Variable      | 6.15%                 | Yes           |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD GRP/CO             | JBS USA Holding Lux Sarl / JBS USA Foods Group Holdings, Inc. / JBS USA Food Co.  | CUSIP: 472140AE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    815000 | PA      | $832286.15    | 0.40%             | 2036-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| JERSEY CENTRAL PWR & LT              | Jersey Central Power & Light Co.                                                  | CUSIP: 476556DD4<br>LEI: 549300W9UGH9ZPLNPF79 | Long             | DBT              | CORP              | US        |    314000 | PA      | $280759.02    | 0.13%             | 2032-03-01      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| LCM Ltd Partnership                  | LCM 37 Ltd.                                                                       | CUSIP: 50204JAL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    916765 | PA      | $915041.48    | 0.43%             | 2034-04-15      | Floating      | 5.38%                 | Yes           |                  2 | On Loan: No      |
| LD CELULOSE INTERNATIONA             | LD Celulose International GmbH                                                    | CUSIP: 50206BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | AT        |    240000 | PA      | $253705.92    | 0.12%             | 2032-01-26      | Fixed         | 7.95%                 | Yes           |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                 | Las Vegas Sands Corp.                                                             | CUSIP: 517834AL1<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    687000 | PA      | $718882.98    | 0.34%             | 2034-08-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC             | Liberty Mutual Group, Inc.                                                        | CUSIP: 53079EBJ2<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |    930000 | PA      | $711753.18    | 0.34%             | 2050-10-15      | Fixed         | 3.95%                 | Yes           |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC              | Light & Wonder International, Inc.                                                | CUSIP: 531968AB1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    270000 | PA      | $270459.00    | 0.13%             | 2033-10-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| ELI LILLY & CO                       | Eli Lilly & Co.                                                                   | CUSIP: 532457CY2<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |    625000 | PA      | $637916.25    | 0.30%             | 2055-02-12      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LINCOLN NATIONAL CORP                | Lincoln National Corp.                                                            | CUSIP: 534187BT5<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |    341000 | PA      | $356824.45    | 0.17%             | 2034-03-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                    | Lithia Motors, Inc.                                                               | CUSIP: 536797AJ2<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    525000 | PA      | $525241.50    | 0.25%             | 2030-10-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC             | Lloyds Banking Group PLC                                                          | CUSIP: 539439BA6<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    452000 | PA      | $469628.90    | 0.22%             | 2035-11-26      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                       | Lowe's Cos., Inc.                                                                 | CUSIP: 548661EW3<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1033000 | PA      | $1024655.43   | 0.49%             | 2032-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                 | M&T Bank Corp.                                                                    | CUSIP: 55261FAY0<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    401000 | PA      | $410774.38    | 0.20%             | 2031-07-08      | Variable      | 5.18%                 | No            |                  2 | On Loan: No      |
| MCF CLO LLC                          | MCF CLO IX Ltd.                                                                   | CUSIP: 55281XAZ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    600000 | PA      | $601122.00    | 0.29%             | 2036-04-17      | Floating      | 6.32%                 | Yes           |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga       | MF1 2021-FL7 Ltd.                                                                 | CUSIP: 55284AAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    910500 | PA      | $905351.76    | 0.43%             | 2036-10-16      | Floating      | 5.70%                 | Yes           |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga       | MF1 2022-FL8 Ltd.                                                                 | CUSIP: 55284JAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    448000 | PA      | $445716.10    | 0.21%             | 2037-02-19      | Floating      | 6.33%                 | Yes           |                  2 | On Loan: No      |
| MPLX LP                              | MPLX LP                                                                           | CUSIP: 55336VAP5<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    983000 | PA      | $815882.14    | 0.39%             | 2058-04-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD             | Macquarie Airfinance Holdings Ltd.                                                | CUSIP: 55609NAD0<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |     59000 | PA      | $63216.67     | 0.03%             | 2031-03-26      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD             | Macquarie Airfinance Holdings Ltd.                                                | CUSIP: 55609NAE8<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    848000 | PA      | $860086.54    | 0.41%             | 2030-03-17      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC              | Macy's Retail Holdings LLC                                                        | CUSIP: 55617LAS1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $172038.57    | 0.08%             | 2033-08-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| MARB BONDCO PLC                      | MARB BondCo PLC                                                                   | CUSIP: 566007AC4<br>LEI: 254900PVA1EU6QM1JN57 | Long             | DBT              | CORP              | GB        |    229000 | PA      | $209625.91    | 0.10%             | 2031-01-29      | Fixed         | 3.95%                 | Yes           |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA               | NXP B.V. / NXP Funding LLC / NXP USA, Inc.                                        | CUSIP: 62954HAV0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    526000 | PA      | $525462.43    | 0.25%             | 2029-06-18      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| NASDAQ INC                           | Nasdaq, Inc.                                                                      | CUSIP: 63111XAH4<br>LEI: 549300L8X1Q78ERXFD06 | Long             | DBT              | CORP              | US        |     78000 | PA      | $80438.36     | 0.04%             | 2028-06-28      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust           | Navient Private Education Refi Loan Trust 2021-A                                  | CUSIP: 63942BAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     61328 | PA      | $56115.17     | 0.03%             | 2069-05-15      | Fixed         | 0.84%                 | Yes           |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Iss       | New Economy Assets - Phase 1 Sponsor LLC                                          | CUSIP: 643821AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    463000 | PA      | $386252.66    | 0.18%             | 2061-10-20      | Fixed         | 1.91%                 | Yes           |                  2 | On Loan: No      |
| NOVARTIS CAPITAL CORP                | Novartis Capital Corp.                                                            | CUSIP: 66989HAW8<br>LEI: 5493002KF87V5RSRQS84 | Long             | DBT              | CORP              | US        |    206000 | PA      | $187981.18    | 0.09%             | 2054-09-18      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC             | OBX 2025-NQM18 Trust                                                              | CUSIP: 673918AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375670 | PA      | $375898.18    | 0.18%             | 2065-09-25      | Variable      | 5.06%                 | Yes           |                  2 | On Loan: No      |
| OLIN CORP                            | Olin Corp.                                                                        | CUSIP: 680665AN6<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |    271000 | PA      | $272414.89    | 0.13%             | 2033-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| ONEOK INC                            | ONEOK, Inc.                                                                       | CUSIP: 682680BL6<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1165000 | PA      | $1235539.59   | 0.59%             | 2033-09-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                          | Oracle Corp.                                                                      | CUSIP: 68389XBH7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    500000 | PA      | $445506.00    | 0.21%             | 2036-07-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                          | Oracle Corp.                                                                      | CUSIP: 68389XBJ3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    780000 | PA      | $607638.72    | 0.29%             | 2046-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                          | Oracle Corp.                                                                      | CUSIP: 68389XBW4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    458000 | PA      | $367770.79    | 0.17%             | 2040-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                          | Oracle Corp.                                                                      | CUSIP: 68389XCS2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    924000 | PA      | $922238.86    | 0.44%             | 2029-09-27      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                          | Oracle Corp.                                                                      | CUSIP: 68389XCU7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    440000 | PA      | $403932.76    | 0.19%             | 2054-09-27      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| OSCAR US Funding Trust               | Oscar U.S. Funding XVI LLC                                                        | CUSIP: 68784GAC7<br>LEI: 3538004TGTV49T7RNL88 | Long             | ABS-O            | CORP              | JP        |    147000 | PA      | $148170.05    | 0.07%             | 2028-02-10      | Fixed         | 5.54%                 | Yes           |                  2 | On Loan: No      |
| PK ALIFT LOAN FUNDING                | PK Alift Loan Funding 7 LP                                                        | CUSIP: 69291NAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $250033.75    | 0.12%             | 2043-03-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES               | PNC Financial Services Group, Inc.                                                | CUSIP: 693475AQ8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EP               | CORP              | US        |    379000 | PA      | $377412.75    | 0.18%             | 2049-12-29      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES               | PNC Financial Services Group, Inc.                                                | CUSIP: 693475BT1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    166000 | PA      | $170073.97    | 0.08%             | 2027-10-20      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES               | PNC Financial Services Group, Inc.                                                | CUSIP: 693475CE3<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    309000 | PA      | $317967.49    | 0.15%             | 2036-07-21      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| PPL CAPITAL FUNDING INC              | PPL Capital Funding, Inc.                                                         | CUSIP: 69352PAT0<br>LEI: 549300MROK5WY0D2NU17 | Long             | DBT              | CORP              | US        |    253000 | PA      | $258751.70    | 0.12%             | 2034-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC               | Pacific Gas and Electric Co.                                                      | CUSIP: 694308JJ7<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    481000 | PA      | $328293.56    | 0.16%             | 2050-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC               | Pacific Gas and Electric Co.                                                      | CUSIP: 694308KY2<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    601000 | PA      | $599858.10    | 0.29%             | 2032-10-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS               | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer | CUSIP: 70052LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    260000 | PA      | $268036.34    | 0.13%             | 2030-02-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF PERU                     | Peruvian Government International Bond                                            | CUSIP: 715638EC2<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    309000 | PA      | $309927.00    | 0.15%             | 2054-08-08      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                     | Peruvian Government International Bond                                            | CUSIP: 715638FD9<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    396000 | PA      | $411503.40    | 0.20%             | 2055-06-30      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                  | Petroleos Mexicanos                                                               | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    485000 | PA      | $490698.75    | 0.23%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PETROLEOS DEL PERU SA                | Petroleos del Peru S.A.                                                           | CUSIP: 716564AA7<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | CORP              | PE        |    400000 | PA      | $346768.00    | 0.16%             | 2032-06-19      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC               | Philip Morris International, Inc.                                                 | CUSIP: 718172BL2<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    730000 | PA      | $628850.47    | 0.30%             | 2044-11-10      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PHILLIPS EDISON GROCERY              | Phillips Edison Grocery Center Operating Partnership I LP                         | CUSIP: 71845JAB4<br>LEI: 549300WUPIVS6ZE0ZI51 | Long             | DBT              | CORP              | US        |     80000 | PA      | $83257.60     | 0.04%             | 2034-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PHILLIPS EDISON GROCERY              | Phillips Edison Grocery Center Operating Partnership I LP                         | CUSIP: 71845JAC2<br>LEI: 549300WUPIVS6ZE0ZI51 | Long             | DBT              | CORP              | US        |    244000 | PA      | $240395.14    | 0.11%             | 2035-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| PHILLIPS EDISON GROCERY              | Phillips Edison Grocery Center Operating Partnership I LP                         | CUSIP: 71845JAD0<br>LEI: 549300WUPIVS6ZE0ZI51 | Long             | DBT              | CORP              | US        |    490000 | PA      | $500822.63    | 0.24%             | 2032-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66                          | Phillips 66                                                                       | CUSIP: 718546AL8<br>LEI: 5493005JBO5YSIGK1814 | Long             | DBT              | CORP              | US        |    238000 | PA      | $212174.86    | 0.10%             | 2044-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PINE STREET TRUST III                | Pine Street Trust III                                                             | CUSIP: 72284KAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    281000 | PA      | $289288.66    | 0.14%             | 2054-05-15      | Fixed         | 6.22%                 | Yes           |                  2 | On Loan: No      |
| PINNACLE WEST CAPITAL                | Pinnacle West Capital Corp.                                                       | CUSIP: 723484AN1<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | DBT              | CORP              | US        |    187000 | PA      | $192293.78    | 0.09%             | 2030-05-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMER PIPELINE             | Plains All American Pipeline LP / PAA Finance Corp.                               | CUSIP: 72650RBL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $250449.50    | 0.12%             | 2026-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMER PIPELINE             | Plains All American Pipeline LP / PAA Finance Corp.                               | CUSIP: 72650RBR2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    153000 | PA      | $153366.44    | 0.07%             | 2031-01-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC             | Prime Security Services Borrower LLC / Prime Finance, Inc.                        | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $486057.00    | 0.23%             | 2027-08-31      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| PROLOGIS LP                          | Prologis LP                                                                       | CUSIP: 74340XCK5<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              | CORP              | US        |    227000 | PA      | $219530.57    | 0.10%             | 2054-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                            | Prosus N.V.                                                                       | CUSIP: 74365PAJ7<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |    530000 | PA      | $427720.60    | 0.20%             | 2052-01-19      | Fixed         | 4.99%                 | Yes           |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC             | Prudential Financial, Inc.                                                        | CUSIP: 744320BF8<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    447000 | PA      | $455254.30    | 0.22%             | 2048-09-15      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ENTERPRIS             | Public Service Enterprise Group, Inc.                                             | CUSIP: 744573AX4<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |    111000 | PA      | $119829.38    | 0.06%             | 2033-10-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                     | Puget Energy, Inc.                                                                | CUSIP: 745310AM4<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |    239000 | PA      | $226937.19    | 0.11%             | 2028-06-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management          | RCKT Mortgage Trust 2024-CES2                                                     | CUSIP: 74938PAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    117710 | PA      | $119389.49    | 0.06%             | 2044-04-25      | Variable      | 6.39%                 | Yes           |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                | Mexico Government International Bond                                              | CUSIP: 91087BBF6<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    360000 | PA      | $378540.00    | 0.18%             | 2038-01-29      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE                | United Parcel Service, Inc.                                                       | CUSIP: 911312CK0<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    390000 | PA      | $407283.24    | 0.19%             | 2055-05-14      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE                | United Parcel Service, Inc.                                                       | CUSIP: 911312CL8<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    277000 | PA      | $289849.20    | 0.14%             | 2065-05-14      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| US BANCORP                           | U.S. Bancorp                                                                      | CUSIP: 91159HJN1<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     94000 | PA      | $100155.21    | 0.05%             | 2034-06-12      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| US BANCORP                           | U.S. Bancorp                                                                      | CUSIP: 91159HJR2<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    265000 | PA      | $279180.42    | 0.13%             | 2035-01-23      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Bond                                                       | CUSIP: 912810UN6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2310900 | PA      | $2360367.13   | 1.12%             | 2045-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note                                                       | CUSIP: 91282CNT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1040300 | PA      | $1048752.44   | 0.50%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC               | UnitedHealth Group, Inc.                                                          | CUSIP: 91324PEE8<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    397000 | PA      | $301621.54    | 0.14%             | 2041-05-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC               | UnitedHealth Group, Inc.                                                          | CUSIP: 91324PFR8<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    253000 | PA      | $263377.05    | 0.13%             | 2055-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| UNIV OF MICHIGAN MI                  | University of Michigan                                                            | CUSIP: 914455VJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    294000 | PA      | $248806.61    | 0.12%             | 2047-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC             | TK Elevator U.S. Newco, Inc.                                                      | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    400000 | PA      | $398612.80    | 0.19%             | 2027-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                     | Paramount Global                                                                  | CUSIP: 925524AX8<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |     83000 | PA      | $87937.42     | 0.04%             | 2036-04-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                     | Paramount Global                                                                  | CUSIP: 92553PAU6<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    640000 | PA      | $583179.52    | 0.28%             | 2043-09-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                     | Paramount Global                                                                  | CUSIP: 92556HAD9<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    419000 | PA      | $390330.76    | 0.19%             | 2032-05-19      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| VMWARE LLC                           | VMware LLC                                                                        | CUSIP: 928563AL9<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    768000 | PA      | $677602.56    | 0.32%             | 2031-08-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                     | Vmed O2 UK Financing I PLC                                                        | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    477000 | PA      | $448856.52    | 0.21%             | 2031-07-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA             | Volkswagen Group of America Finance LLC                                           | CUSIP: 928668CC4<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    355000 | PA      | $381375.08    | 0.18%             | 2030-11-16      | Fixed         | 6.45%                 | Yes           |                  2 | On Loan: No      |
| VORNADO REALTY LP                    | Vornado Realty LP                                                                 | CUSIP: 929043AK3<br>LEI: 549300BMOJ05INE4YK86 | Long             | DBT              | CORP              | US        |    475000 | PA      | $466374.00    | 0.22%             | 2026-06-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                         | Voya CLO 2019-1 Ltd.                                                              | CUSIP: 92917NAW8<br>LEI: 549300KSCKXTOBY0IP86 | Long             | ABS-CBDO         | CORP              | KY        |    950000 | PA      | $952967.80    | 0.45%             | 2037-10-15      | Floating      | 5.69%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                | Wells Fargo & Co.                                                                 | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |    719000 | PA      | $711992.63    | 0.34%             | 2169-03-15      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                | Wells Fargo & Co.                                                                 | CUSIP: 94974BGU8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $887069.00    | 0.42%             | 2046-12-07      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                | Wells Fargo & Co.                                                                 | CUSIP: 95000U3E1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    290000 | PA      | $300586.45    | 0.14%             | 2029-07-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                | Wells Fargo & Co.                                                                 | CUSIP: 95000U3H4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    535000 | PA      | $594388.75    | 0.28%             | 2034-10-23      | Variable      | 6.49%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                | Wells Fargo & Co.                                                                 | CUSIP: 95000U3J0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    366000 | PA      | $377114.32    | 0.18%             | 2030-01-23      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                | Wells Fargo & Co.                                                                 | CUSIP: 95000U3K7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1251420.00   | 0.59%             | 2035-01-23      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                 | Westpac Banking Corp.                                                             | CUSIP: 961214EP4<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |   1010000 | PA      | $906638.62    | 0.43%             | 2035-11-15      | Variable      | 2.67%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC               | Williams Cos., Inc.                                                               | CUSIP: 96950FAP9<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    800000 | PA      | $718283.20    | 0.34%             | 2045-01-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Willis Engine Securitization T       | Willis Engine Structured Trust IV                                                 | CUSIP: 97064EAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     87045 | PA      | $86819.40     | 0.04%             | 2043-09-15      | Variable      | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Willis Engine Securitization T       | Willis Engine Structured Trust VI                                                 | CUSIP: 97064GAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    541664 | PA      | $508704.82    | 0.24%             | 2046-05-15      | Fixed         | 3.10%                 | Yes           |                  2 | On Loan: No      |
| WYNN MACAU LTD                       | Wynn Macau Ltd.                                                                   | CUSIP: 98313RAH9<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $399620.40    | 0.19%             | 2028-08-26      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| XCEL ENERGY INC                      | Xcel Energy, Inc.                                                                 | CUSIP: 98389BBE9<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |    157000 | PA      | $162891.74    | 0.08%             | 2035-04-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                      | Zayo Issuer LLC                                                                   | CUSIP: 98919WAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    704980 | PA      | $725418.78    | 0.34%             | 2055-06-20      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS               | Zimmer Biomet Holdings, Inc.                                                      | CUSIP: 98956PAX0<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |    204000 | PA      | $211356.04    | 0.10%             | 2028-12-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| EURO FORWARD CONTRACT 10/10/2025   / | EURO FORWARD CONTRACT 10/10/2025   /                                              | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | XX        |   -993000 | OU      | $-1166542.66  | -0.55%            |  |  |  | No            |                  2 | On Loan: No      |
| EURO CURRENCY  /                     | EURO CURRENCY  /                                                                  | CUSIP: 999999999<br>LEI: N/A                  | Short            | STIV             |  | XX        |     -3430 | OU      | $-4027.01     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Financial Square       | Goldman Sachs Financial Square Government Fund - Class Institutional              | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             | RF                | US        |   4371510 | PA      | $4371510.45   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| 5YR T-NOTE FUTURE DEC 2025   /       | 5YR T-NOTE FUTURE DEC 2025   /                                                    | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DIR              |  | US        |        74 | NC      | $22825.34     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GREAT BRITAIN POUND  /               | GREAT BRITAIN POUND  /                                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | STIV             |  | GB        |       532 | OU      | $715.55       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PERUVIAN NEW SOL  /                  | PERUVIAN NEW SOL  /                                                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | STIV             |  | PE        |         8 | OU      | $2.33         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO-BUND FUTURES DEC 2025   /       | EURO-BUND FUTURES DEC 2025   /                                                    | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DIR              |  | DE        |       -11 | NC      | $-3394.80     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| 2YR T-NOTE FUT INDEX DEC 25   /      | 2YR T-NOTE FUT INDEX DEC 25   /                                                   | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DIR              |  | US        |        54 | NC      | $16024.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| 10 YR T-NOTE FUTURE DEC 2025   /     | 10 YR T-NOTE FUTURE DEC 2025   /                                                  | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DIR              |  | US        |         2 | NC      | $1064.51      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORPORATION              | Exxon Mobil Corp.                                                                 | CUSIP: U30276AD8<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $855502.47    | 0.41%             | 2039-06-26      | Fixed         | 1.41%                 | No            |                  2 | On Loan: No      |
| U.S. LONG BOND FUT DEC 2025   /      | U.S. LONG BOND FUT DEC 2025   /                                                   | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DIR              |  | US        |       109 | NC      | $280549.10    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ULTRA 10YR U.S. TREASU DEC 2025   /  | ULTRA 10YR U.S. TREASU DEC 2025   /                                               | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DIR              |  | US        |       -57 | NC      | $-75682.98    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF COLOMBIA                 | Colombia Government International Bond                                            | CUSIP: YK0049741<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    327000 | PA      | $371412.96    | 0.18%             | 2036-02-19      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Apollo Aviation Securitization       | AASET 2025-1                                                                      | CUSIP: 00258PAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    239205 | PA      | $246415.39    | 0.12%             | 2050-02-16      | Fixed         | 5.94%                 | Yes           |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                   | Advance Auto Parts, Inc.                                                          | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    180000 | PA      | $185303.16    | 0.09%             | 2030-08-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                   | Advance Auto Parts, Inc.                                                          | CUSIP: 00751YAL0<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    210000 | PA      | $216682.20    | 0.10%             | 2033-08-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA             | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                         | CUSIP: 00774MAX3<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    669000 | PA      | $616134.95    | 0.29%             | 2032-01-30      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA             | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                         | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    150000 | PA      | $156960.60    | 0.07%             | 2055-03-10      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA             | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                         | CUSIP: 00774MBQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    175000 | PA      | $180611.90    | 0.09%             | 2056-01-31      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| ADVENTIST HEALTH SYS/W               | Adventist Health System/West                                                      | CUSIP: 007944AN1<br>LEI: 5493008YM33UCY5QPW83 | Long             | DBT              | CORP              | US        |    762000 | PA      | $762474.73    | 0.36%             | 2030-12-01      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| AIR CANADA                           | Air Canada                                                                        | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |    155000 | PA      | $153598.96    | 0.07%             | 2026-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| AIR CANADA 2020-2A PTT               | Air Canada 2020-2 Class A Pass-Through Trust                                      | CUSIP: 00909DAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    118008 | PA      | $120687.07    | 0.06%             | 2030-10-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| AIRCASTLE / IRELAND DAC              | Aircastle Ltd. / Aircastle Ireland DAC                                            | CUSIP: 00929JAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    156000 | PA      | $162557.77    | 0.08%             | 2031-10-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /             | Albion Financing 1 SARL / Aggreko Holdings, Inc.                                  | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    270000 | PA      | $278718.30    | 0.13%             | 2030-05-21      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| ALCOA NEDERLAND HOLDING              | Alcoa Nederland Holding B.V.                                                      | CUSIP: 013822AH4<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $210178.00    | 0.10%             | 2031-03-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| ALLIANT ENERGY CORP                  | Alliant Energy Corp.                                                              | CUSIP: 018802AF5<br>LEI: 5493009ML300G373MZ12 | Long             | DBT              | CORP              | US        |    265000 | PA      | $265340.00    | 0.13%             | 2056-04-01      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| ALLIANZ SE                           | Allianz S.E.                                                                      | CUSIP: 018820AA8<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |    600000 | PA      | $595472.40    | 0.28%             | 2169-04-30      | Variable      | 3.50%                 | Yes           |                  2 | On Loan: No      |
| ALLIANZ SE                           | Allianz S.E.                                                                      | CUSIP: 018820AB6<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $187783.80    | 0.09%             | 2170-04-30      | Variable      | 3.20%                 | Yes           |                  2 | On Loan: No      |
| ALLSTATE CORP                        | Allstate Corp.                                                                    | CUSIP: 020002AU5<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |    175000 | PA      | $184135.18    | 0.09%             | 2067-05-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked N       | Ally Bank Auto Credit-Linked Notes Series 2025-A                                  | CUSIP: 02007G5F6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    232341 | PA      | $233044.01    | 0.11%             | 2033-06-15      | Fixed         | 4.84%                 | Yes           |                  2 | On Loan: No      |
| ALPHABET INC                         | Alphabet, Inc.                                                                    | CUSIP: 02079KAM9<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    105000 | PA      | $105245.81    | 0.05%             | 2055-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC                     | Altria Group, Inc.                                                                | CUSIP: 02209SBF9<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    152000 | PA      | $155269.37    | 0.07%             | 2049-02-14      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ALUMINA PTY LTD                      | Alumina Pty Ltd.                                                                  | CUSIP: 02220AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |    323000 | PA      | $331074.35    | 0.16%             | 2032-09-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| AMER AIRLINE 17-1 AA PTT             | American Airlines 2017-1 Class AA Pass-Through Trust                              | CUSIP: 023761AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    158455 | PA      | $153968.19    | 0.07%             | 2030-08-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| AMER AIRLINE 17-2 AA PTT             | American Airlines 2017-2 Class AA Pass-Through Trust                              | CUSIP: 02376AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    259017 | PA      | $249782.95    | 0.12%             | 2031-04-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| AMER AIRLINE 19-1AA PTT              | American Airlines 2019-1 Class AA Pass-Through Trust                              | CUSIP: 02377LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    311496 | PA      | $291712.93    | 0.14%             | 2033-08-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC              | American Axle & Manufacturing, Inc.                                               | CUSIP: 02406PBC3<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    130000 | PA      | $129721.67    | 0.06%             | 2032-10-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER              | American Electric Power Co., Inc.                                                 | CUSIP: 02557TAF6<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    484000 | PA      | $484498.04    | 0.23%             | 2056-03-15      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT                | American Homes 4 Rent LP                                                          | CUSIP: 02666TAG2<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |    747000 | PA      | $770953.30    | 0.37%             | 2034-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                            | Amgen, Inc.                                                                       | CUSIP: 031162DQ0<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |     61000 | PA      | $63249.44     | 0.03%             | 2030-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                     | BAT Capital Corp.                                                                 | CUSIP: 05526DBV6<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    306000 | PA      | $292807.42    | 0.14%             | 2052-03-16      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC               | BP Capital Markets PLC                                                            | CUSIP: 05565QDX3<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    884000 | PA      | $915448.30    | 0.44%             | 2173-06-18      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| BXHPP Trust                          | BXHPP Trust 2021-FILM                                                             | CUSIP: 05609JAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    162000 | PA      | $151208.53    | 0.07%             | 2036-08-15      | Floating      | 5.36%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                             | BX Commercial Mortgage Trust 2024-AIR2                                            | CUSIP: 05613QAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    361611 | PA      | $362176.11    | 0.17%             | 2041-10-15      | Floating      | 5.64%                 | Yes           |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limit       | Bain Capital Credit CLO 2020-3 Ltd.                                               | CUSIP: 05684CAW5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001679.00   | 0.48%             | 2034-10-23      | Floating      | 5.53%                 | Yes           |                  2 | On Loan: No      |
| BALL CORP                            | Ball Corp.                                                                        | CUSIP: 058498AZ9<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    553000 | PA      | $566086.19    | 0.27%             | 2029-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE GAS & ELECTRIC             | Baltimore Gas and Electric Co.                                                    | CUSIP: 059165ES5<br>LEI: 88V8C2WYSOD1SPSSLH72 | Long             | DBT              | CORP              | US        |   1025000 | PA      | $1045804.43   | 0.50%             | 2054-06-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                   | Banco Santander S.A.                                                              | CUSIP: 05964HAU9<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $415596.00    | 0.20%             | 2028-08-08      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                 | Bank of America Corp.                                                             | CUSIP: 06051GEN5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    200000 | PA      | $214299.60    | 0.10%             | 2042-02-07      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                 | Bank of America Corp.                                                             | CUSIP: 06051GGC7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200105.00    | 0.10%             | 2027-11-25      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                 | Bank of America Corp.                                                             | CUSIP: 06051GKK4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1895000 | PA      | $1725416.45   | 0.82%             | 2033-02-04      | Variable      | 2.97%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                 | Bank of America Corp.                                                             | CUSIP: 06051GLU1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    965000 | PA      | $1033956.01   | 0.49%             | 2034-09-15      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                 | Bank of America Corp.                                                             | CUSIP: 06051GMA4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    384000 | PA      | $400874.88    | 0.19%             | 2035-01-23      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                 | Bank of America Corp.                                                             | CUSIP: 06051GMM8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1055000 | PA      | $1102678.62   | 0.52%             | 2036-01-24      | Variable      | 5.51%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                 | Bank of America Corp.                                                             | CUSIP: 06051GMQ9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    799000 | PA      | $830061.92    | 0.39%             | 2036-02-12      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                     | Bank of Montreal                                                                  | CUSIP: 06368L5Q5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    599000 | PA      | $635643.83    | 0.30%             | 2084-11-26      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                  | Bank of Nova Scotia                                                               | CUSIP: 0641598X7<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   1250000 | PA      | $1303732.50   | 0.62%             | 2085-04-27      | Variable      | 7.35%                 | No            |                  2 | On Loan: No      |
| Bank5                                | BANK5 2024-5YR12                                                                  | CUSIP: 06644XBB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    960000 | PA      | $993967.68    | 0.47%             | 2057-12-15      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP             | Charter Communications Operating LLC / Charter Communications Operating Capital   | CUSIP: 161175BC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    775000 | PA      | $789732.75    | 0.38%             | 2055-10-23      | Fixed         | 6.83%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP             | Charter Communications Operating LLC / Charter Communications Operating Capital   | CUSIP: 161175CA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1236000 | PA      | $836111.98    | 0.40%             | 2052-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS             | Cheniere Energy Partners LP                                                       | CUSIP: 16411QAV3<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    235000 | PA      | $240113.37    | 0.11%             | 2035-10-30      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| Chesapeake Funding II LLC            | Chesapeake Funding II LLC                                                         | CUSIP: 165183CZ5<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |     43065 | PA      | $43679.84     | 0.02%             | 2035-10-15      | Fixed         | 6.16%                 | Yes           |                  2 | On Loan: No      |
| Churchill Middle Market CLO Lt       | Churchill MMSLF CLO-IV Ltd.                                                       | CUSIP: 171929AA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $997882.00    | 0.47%             | 2035-10-22      | Floating      | 5.93%                 | Yes           |                  2 | On Loan: No      |
| CITIGROUP INC                        | Citigroup, Inc.                                                                   | CUSIP: 172967PL9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    779000 | PA      | $807838.58    | 0.38%             | 2035-06-11      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                        | Citigroup, Inc.                                                                   | CUSIP: 172967PR6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EP               | CORP              | US        |    672000 | PA      | $683087.33    | 0.32%             | 2173-02-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                        | Citigroup, Inc.                                                                   | CUSIP: 172967PU9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    658000 | PA      | $689368.83    | 0.33%             | 2036-01-24      | Variable      | 6.02%                 | No            |                  2 | On Loan: No      |
| CITGO PETROLEUM CORP                 | CITGO Petroleum Corp.                                                             | CUSIP: 17302XAN6<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |   1162000 | PA      | $1207204.12   | 0.57%             | 2029-01-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP             | Citizens Financial Group, Inc.                                                    | CUSIP: 174610BF1<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    103000 | PA      | $107364.42    | 0.05%             | 2030-01-23      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP             | Citizens Financial Group, Inc.                                                    | CUSIP: 174610BG9<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    798000 | PA      | $878082.49    | 0.42%             | 2035-04-25      | Variable      | 6.64%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                 | Colombia Government International Bond                                            | CUSIP: 195325EP6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    590000 | PA      | $617883.40    | 0.29%             | 2036-11-07      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                     | COLT 2023-3 Mortgage Loan Trust                                                   | CUSIP: 19688RAB5<br>LEI: 213800MIPEZY1A8W1N28 | Long             | ABS-MBS          | CORP              | US        |     99416 | PA      | $100807.63    | 0.05%             | 2068-09-25      | Variable      | 7.43%                 | Yes           |                  2 | On Loan: No      |
| COLUMBIA PIPELINES OPCO              | Columbia Pipelines Operating Co. LLC                                              | CUSIP: 19828TAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     92000 | PA      | $98620.87     | 0.05%             | 2053-11-15      | Fixed         | 6.54%                 | Yes           |                  2 | On Loan: No      |
| COMCAST CORP                         | Comcast Corp.                                                                     | CUSIP: 20030NCZ2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   1045000 | PA      | $729976.39    | 0.35%             | 2050-02-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| COMMONBOND STUDENT LOAN TRUST        | Commonbond Student Loan Trust 2019-A-GS                                           | CUSIP: 20268CAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    249230 | PA      | $228105.24    | 0.11%             | 2047-01-25      | Fixed         | 2.54%                 | Yes           |                  2 | On Loan: No      |
| CON EDISON CO OF NY INC              | Consolidated Edison Co. of New York, Inc.                                         | CUSIP: 209111GG2<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |    140000 | PA      | $145938.66    | 0.07%             | 2053-11-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| CON EDISON CO OF NY INC              | Consolidated Edison Co. of New York, Inc.                                         | CUSIP: 209111GK3<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1024029.00   | 0.49%             | 2054-05-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION EN GEN LLC             | Constellation Energy Generation LLC                                               | CUSIP: 210385AD2<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1088442.00   | 0.52%             | 2034-01-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION EN GEN LLC             | Constellation Energy Generation LLC                                               | CUSIP: 210385AF7<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |    493000 | PA      | $500139.63    | 0.24%             | 2054-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC             | Corebridge Financial, Inc.                                                        | CUSIP: 21871XAS8<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |     31000 | PA      | $32608.50     | 0.02%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC             | Corebridge Financial, Inc.                                                        | CUSIP: 21871XAT6<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    328000 | PA      | $336630.01    | 0.16%             | 2054-09-15      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| CORP ANDINA DE FOMENTO               | Corp Andina de Fomento                                                            | CUSIP: 219868CM6<br>LEI: UKZ46SXGNYCZK0UOZE76 | Long             | DBT              |  | XX        |    290000 | PA      | $299686.00    | 0.14%             | 2173-12-17      | Variable      | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CODELCO INC                          | Corp Nacional del Cobre de Chile                                                  | CUSIP: 21987BBL1<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |    487000 | PA      | $519263.75    | 0.25%             | 2035-01-13      | Fixed         | 6.33%                 | Yes           |                  2 | On Loan: No      |
| COUSINS PROPERTIES LP                | Cousins Properties LP                                                             | CUSIP: 222793AB7<br>LEI: 254900ZQIHJ5FQH4C329 | Long             | DBT              | CORP              | US        |    694000 | PA      | $711591.51    | 0.34%             | 2032-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| COX ENTERPRISES INC                  | Cox Enterprises, Inc.                                                             | CUSIP: 224050AE4<br>LEI: TVRMNZKRGA8LPW6XPG60 | Long             | DBT              | CORP              | US        |    600000 | PA      | $625915.80    | 0.30%             | 2027-07-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| UBS GROUP AG                         | UBS Group A.G.                                                                    | CUSIP: 225401AU2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    250000 | PA      | $231399.25    | 0.11%             | 2032-05-14      | Variable      | 3.09%                 | Yes           |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                | Truist Financial Corp.                                                            | CUSIP: 89788MAQ5<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     96000 | PA      | $104000.64    | 0.05%             | 2029-10-30      | Variable      | 7.16%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                | Truist Financial Corp.                                                            | CUSIP: 89788MAS1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     70000 | PA      | $73473.19     | 0.03%             | 2035-01-24      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                | Truist Financial Corp.                                                            | CUSIP: 89832QAD1<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |   1232000 | PA      | $1237955.49   | 0.59%             | 2168-03-01      | Variable      | 6.67%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                         | UBS Group A.G.                                                                    | CUSIP: 902613BH0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $210639.20    | 0.10%             | 2035-02-08      | Variable      | 5.70%                 | Yes           |                  2 | On Loan: No      |
| UBS GROUP AG                         | UBS Group A.G.                                                                    | CUSIP: 902613BQ0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    325000 | PA      | $338482.95    | 0.16%             | 2036-05-09      | Variable      | 5.58%                 | Yes           |                  2 | On Loan: No      |
| USQ Rail                             | USQ Rail I LLC                                                                    | CUSIP: 90352WAD6<br>LEI: 25490077I8NB6ADB4I38 | Long             | ABS-O            | CORP              | US        |    176182 | PA      | $166934.49    | 0.08%             | 2051-02-28      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| U.S. Bank National Association       | U.S. Bank C&I Credit-Linked Notes Series 2025-2                                   | CUSIP: 90355PAB2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    250000 | PA      | $249690.25    | 0.12%             | 2032-09-25      | Fixed         | 4.82%                 | Yes           |                  2 | On Loan: No      |
| UNION PACIFIC CORP                   | Union Pacific Corp.                                                               | CUSIP: 907818FG8<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    200000 | PA      | $148037.40    | 0.07%             | 2060-03-20      | Fixed         | 3.84%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2019-1 AA PTT             | United Airlines 2019-1 Class AA Pass-Through Trust                                | CUSIP: 90931CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    133236 | PA      | $130023.03    | 0.06%             | 2033-02-25      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-06

**Name of Applicant:** INVESTMENT MANAGERS SERIES TRUST

**Signature:** /s/ Maureen Quill

**Name of Signer:** Maureen Quill

**Title:** President