# EDGAR Filing Document

**Accession Number:** 0001048702
**File Stem:** 0002071691-25-000657
**Filing Date:** 2025-9
**Character Count:** 191104
**Document Hash:** 601b8d4b26acf7f40a7a2fad1534c487
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-000657.hdr.sgml**: 20250917

**ACCESSION NUMBER**: 0002071691-25-000657

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250917

**DATE AS OF CHANGE**: 20250917

**PERIOD START**: 20251031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08495
- **FILM NUMBER:** 251321000

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

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

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

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

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

## Series and Classes Contracts Data

### Nationwide Invesco Core Plus Bond Fund (Series ID: S000039094)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000120179 | Class A                     | NWCPX           |
| C000120180 | Institutional Service Class | NWCSX           |
| C000120181 | Class R6                    | NWCIX           |

## Nport-Ex

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## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Columbus

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 43215

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

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

- **a. Name of Series:** Nationwide Invesco Core Plus Bond Fund

- **b. EDGAR series identifier (if any):** S000039094

- **c. LEI of Series:** 549300JU8OD8JPWTAH16

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

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

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $144474162.92

**Total Liabilities:** $1811441.85

**Net Assets:** $142662721.07

**Cash Not Reported:** $980333.92

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 591.85597600 | **1-Year:** 2183.55582800 | **5-Year:** 14311.87150400 | **10-Year:** 31795.65762600 | **30-Year:** 7281.52502800

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

- **3-Month:** 9.63050900 | **1-Year:** 392.83003900 | **5-Year:** 2912.10606200 | **10-Year:** 1425.96383000 | **30-Year:** 406.71348400

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000120180 | -0.44%               | 1.66%                | -0.33%               |
| Class ID C000120181 | -0.33%               | 1.55%                | -0.22%               |
| Class ID C000120179 | -0.33%               | 1.55%                | -0.33%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-174148.97              | $77972.58                                  |
| Month 2  | $83066.58                | $762144.93                                 |
| Month 3  | $-344672.34              | $-474478.59                                |

**Designated Index Information**

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

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

### Schedule of Portfolio Investments

| Name                                                      | Title                                                                         | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| JPMorgan Chase & Co.                                      | JPMorgan Chase & Co.                                                          | CUSIP: 46647PDK9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    340000 | PA      | $354291.51    | 0.25%             | 2033-09-14      | Variable      | 5.72%                 | No            |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                              | BX Commercial Mortgage Trust, Series 2021-VOLT, Class C                       | CUSIP: 05609VAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    145324 | PA      | $144733.84    | 0.10%             | 2036-09-15      | Floating      | 5.56%                 | Yes           |                  2 | On Loan: No      |
| Autodesk, Inc.                                            | Autodesk, Inc.                                                                | CUSIP: 052769AJ5<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | DBT              | CORP              | US        |     47000 | PA      | $47618.63     | 0.03%             | 2035-06-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3142GVCX7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2450000 | PA      | $2487819.62   | 1.74%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Plains All American Pipeline LP                           | Plains All American Pipeline LP                                               | CUSIP: 72650RBH4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $85012.22     | 0.06%             | 2045-02-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Suzano Austria GmbH                                       | Suzano Austria GmbH                                                           | CUSIP: 86964WAJ1<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |     59000 | PA      | $54894.21     | 0.04%             | 2031-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                | AT&T, Inc.                                                                    | CUSIP: 00206RMZ2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    147000 | PA      | $149017.70    | 0.10%             | 2056-08-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies CLO Ltd.                 | Carlyle Global Market Strategies CLO Ltd., Series 2016-1A, Class A1R3         | CUSIP: 14312HBE5<br>LEI: 549300N3CJKPCWZ7KX23 | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $300349.20    | 0.21%             | 2034-04-20      | Floating      | 5.42%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                            | Carnival Corp.                                                                | CUSIP: 143658BZ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    100000 | PA      | $101500.00    | 0.07%             | 2031-06-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                                | Warnermedia Holdings, Inc.                                                    | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   1046000 | PA      | $699198.70    | 0.49%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| PSEG Power LLC                                            | PSEG Power LLC                                                                | CUSIP: 69362BBE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    217000 | PA      | $223487.01    | 0.16%             | 2035-05-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| John Deere Capital Corp.                                  | John Deere Capital Corp.                                                      | CUSIP: 24422EYF0<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    124000 | PA      | $123523.28    | 0.09%             | 2030-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Georgia-Pacific LLC                                       | Georgia-Pacific LLC                                                           | CUSIP: 37331NAT8<br>LEI: L2EVHWFHVAQK72TMH265 | Long             | DBT              | CORP              | US        |     61000 | PA      | $61417.15     | 0.04%             | 2032-06-30      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Philip Morris International, Inc.                         | Philip Morris International, Inc.                                             | CUSIP: 718172CW7<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    394000 | PA      | $411151.15    | 0.29%             | 2029-11-17      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| AES Corp. (The)                                           | AES Corp. (The)                                                               | CUSIP: 00130HCG8<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |    478000 | PA      | $422535.89    | 0.30%             | 2031-01-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3140QPFL6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2942502 | PA      | $2633504.68   | 1.85%             | 2052-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Kioxia Holdings Corp.                                     | Kioxia Holdings Corp.                                                         | CUSIP: 49726JAA6<br>LEI: 35380080RTKRARNH4R73 | Long             | DBT              | CORP              | JP        |     54000 | PA      | $53799.92     | 0.04%             | 2030-07-24      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                           | Citigroup, Inc.                                                               | CUSIP: 172967PZ8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    382000 | PA      | $382388.11    | 0.27%             | 2028-05-07      | Variable      | 4.64%                 | No            |                  2 | On Loan: No      |
| Santander Holdings USA, Inc.                              | Santander Holdings USA, Inc.                                                  | CUSIP: 80282KBF2<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |     74000 | PA      | $77042.54     | 0.05%             | 2029-03-09      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| EPR Properties                                            | EPR Properties                                                                | CUSIP: 26884UAC3<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79738.50     | 0.06%             | 2026-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                  | Angel Oak Mortgage Trust, Series 2024-3, Class A2                             | CUSIP: 03466HAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    107567 | PA      | $105861.00    | 0.07%             | 2068-11-26      | Variable      | 4.80%                 | Yes           |                  2 | On Loan: No      |
| JH North America Holdings, Inc.                           | JH North America Holdings, Inc.                                               | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |     98000 | PA      | $99015.77     | 0.07%             | 2032-07-31      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust            | Morgan Stanley Residential Mortgage Loan Trust, Series 2025-NQM1, Class A1    | CUSIP: 617932AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1419715 | PA      | $1422903.07   | 1.00%             | 2069-11-25      | Variable      | 5.74%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3132DWE41<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    129093 | PA      | $115522.43    | 0.08%             | 2052-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd.                                   | Rockford Tower CLO Ltd., Series 2025-1A, Class A1                             | CUSIP: 77341AAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250206.25    | 0.18%             | 2038-03-31      | Floating      | 5.47%                 | Yes           |                  2 | On Loan: No      |
| South Bow Canadian Infrastructure Holdings Ltd.           | South Bow Canadian Infrastructure Holdings Ltd.                               | CUSIP: 836720AF9<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | CA        |    138000 | PA      | $142524.42    | 0.10%             | 2055-03-01      | Variable      | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Sherwin-Williams Co. (The)                                | Sherwin-Williams Co. (The)                                                    | CUSIP: 824348BV7<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    212000 | PA      | $211242.08    | 0.15%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                           | Goldman Sachs Group, Inc. (The)                                               | CUSIP: 38141GC44<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    179000 | PA      | $183003.85    | 0.13%             | 2036-01-28      | Variable      | 5.54%                 | No            |                  2 | On Loan: No      |
| Fort Greene Park CLO LLC                                  | Fort Greene Park CLO LLC, Series 2025-2A, Class AR                            | CUSIP: 18914KAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    300000 | PA      | $299422.50    | 0.21%             | 2034-04-22      | Floating      | 5.28%                 | Yes           |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                  | Venture Global LNG, Inc.                                                      | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    197000 | PA      | $212551.94    | 0.15%             | 2032-02-01      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| Truist Bank                                               | Truist Bank                                                                   | CUSIP: 89788JAF6<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |    268000 | PA      | $267611.63    | 0.19%             | 2028-07-24      | Variable      | 4.42%                 | No            |                  2 | On Loan: No      |
| Public Service Enterprise Group, Inc.                     | Public Service Enterprise Group, Inc.                                         | CUSIP: 744573AX4<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |    125000 | PA      | $133246.57    | 0.09%             | 2033-10-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.                     | Alexandria Real Estate Equities, Inc.                                         | CUSIP: 015271BA6<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |     65000 | PA      | $62114.54     | 0.04%             | 2035-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Private Bank NA                            | Morgan Stanley Private Bank NA                                                | CUSIP: 61776NVE0<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |    250000 | PA      | $249733.55    | 0.18%             | 2028-07-06      | Variable      | 4.47%                 | No            |                  2 | On Loan: No      |
| American National Group, Inc.                             | American National Group, Inc.                                                 | CUSIP: 025676AQ0<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |     73000 | PA      | $73435.36     | 0.05%             | 2035-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO Ltd.                              | Bain Capital Credit CLO Ltd., Series 2021-6A, Class A1R                       | CUSIP: 05684PAL0<br>LEI: 254900YXN9JEMKU5DF45 | Long             | ABS-CBDO         | CORP              | KY        |    710000 | PA      | $711232.56    | 0.50%             | 2034-10-21      | Floating      | 5.42%                 | Yes           |                  2 | On Loan: No      |
| PSEG Power LLC                                            | PSEG Power LLC                                                                | CUSIP: 69362BBD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $56196.49     | 0.04%             | 2030-05-15      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| Nippon Life Insurance Co.                                 | Nippon Life Insurance Co.                                                     | CUSIP: 654579AP6<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |    587000 | PA      | $614312.52    | 0.43%             | 2055-04-30      | Variable      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Exelon Corp.                                              | Exelon Corp.                                                                  | CUSIP: 30161NBQ3<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |     47000 | PA      | $48025.84     | 0.03%             | 2055-03-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group, Inc.                            | Citizens Financial Group, Inc.                                                | CUSIP: 174610BH7<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |     96000 | PA      | $99046.48     | 0.07%             | 2032-07-23      | Variable      | 5.72%                 | No            |                  2 | On Loan: No      |
| Vale Overseas Ltd.                                        | Vale Overseas Ltd.                                                            | CUSIP: 91911TAS2<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |     40000 | PA      | $39281.44     | 0.03%             | 2054-06-28      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                         | Wells Fargo & Co.                                                             | CUSIP: 95000U3W1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    179000 | PA      | $182658.25    | 0.13%             | 2031-04-23      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| Equitable America Global Funding                          | Equitable America Global Funding                                              | CUSIP: 29446Q2A0<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |    154000 | PA      | $154421.18    | 0.11%             | 2028-06-09      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| Howard Midstream Energy Partners LLC                      | Howard Midstream Energy Partners LLC                                          | CUSIP: 442722AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     43000 | PA      | $44835.67     | 0.03%             | 2028-07-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Sonic Capital LLC                                         | Sonic Capital LLC, Series 2020-1A, Class A2I                                  | CUSIP: 83546DAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    731191 | PA      | $714867.58    | 0.50%             | 2050-01-20      | Fixed         | 3.85%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3138E2JY2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    256874 | PA      | $238945.60    | 0.17%             | 2041-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                      | Mitsubishi UFJ Financial Group, Inc.                                          | CUSIP: 606822DL5<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    640000 | PA      | $661078.78    | 0.46%             | 2036-04-24      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 15 Ltd.                                       | Elmwood CLO 15 Ltd., Series 2022-2A, Class A1R                                | CUSIP: 29003JAN4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    250000 | PA      | $249990.25    | 0.18%             | 2035-04-22      | Floating      | 5.41%                 | Yes           |                  2 | On Loan: No      |
| IP Mortgage Trust                                         | IP Mortgage Trust, Series 2025-IP, Class B                                    | CUSIP: 449843AC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100619.19    | 0.07%             | 2042-06-10      | Variable      | 5.54%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                     | FHLMC                                                                         | CUSIP: 3128MJYY0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    292161 | PA      | $257662.74    | 0.18%             | 2046-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3132DWDR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6684785 | PA      | $5497424.30   | 3.85%             | 2052-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Whirlpool Corp.                                           | Whirlpool Corp.                                                               | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7980.92      | 0.01%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Nomura Holdings, Inc.                                     | Nomura Holdings, Inc.                                                         | CUSIP: 65535HCC1<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $202510.80    | 0.14%             | 2030-07-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Domino's Pizza Master Issuer LLC                          | Domino's Pizza Master Issuer LLC, Series 2021-1A, Class A2I                   | CUSIP: 25755TAN0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     92388 | PA      | $86157.02     | 0.06%             | 2051-04-25      | Fixed         | 2.66%                 | Yes           |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)                       | Bank of New York Mellon Corp. (The)                                           | CUSIP: 06406RCD7<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    145000 | PA      | $145660.01    | 0.10%             | 2028-06-09      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| VICI Properties LP                                        | VICI Properties LP                                                            | CUSIP: 925650AJ2<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |     47000 | PA      | $47265.82     | 0.03%             | 2028-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Sunoco LP                                                 | Sunoco LP                                                                     | CUSIP: 86765KAD1<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14179.21     | 0.01%             | 2033-07-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                       | U.S. Treasury 2 Year Note                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       116 | NC      | $-74040.80    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3132DPBW7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    323334 | PA      | $327708.36    | 0.23%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3140QSTU5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    997194 | PA      | $974588.48    | 0.68%             | 2053-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd.                           | Palmer Square Loan Funding Ltd., Series 2025-2A, Class A1                     | CUSIP: 69704AAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250027.00    | 0.18%             | 2033-07-15      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| BAT Capital Corp.                                         | BAT Capital Corp.                                                             | CUSIP: 054989AA6<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    130000 | PA      | $139366.06    | 0.10%             | 2030-08-02      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Delta Air Lines, Inc.                                     | Delta Air Lines, Inc.                                                         | CUSIP: 247361A24<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    201000 | PA      | $201891.64    | 0.14%             | 2028-07-10      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO Ltd.                              | Bain Capital Credit CLO Ltd., Series 2019-4A, Class A1RR                      | CUSIP: 05684AAY5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    710000 | PA      | $710488.48    | 0.50%             | 2035-04-23      | Floating      | 5.31%                 | Yes           |                  2 | On Loan: No      |
| Cross Mortgage Trust                                      | Cross Mortgage Trust, Series 2024-H2, Class A3                                | CUSIP: 22757BAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     71879 | PA      | $72161.85     | 0.05%             | 2069-04-25      | Variable      | 6.52%                 | Yes           |                  2 | On Loan: No      |
| NEW Residential Mortgage Loan Trust                       | NEW Residential Mortgage Loan Trust, Series 2025-NQM2, Class A1               | CUSIP: 64831XAC2<br>LEI: 2138006ZAYPD4ZHQYX81 | Long             | ABS-MBS          | CORP              | US        |   1027850 | PA      | $1031368.35   | 0.72%             | 2065-04-25      | Variable      | 5.57%                 | Yes           |                  2 | On Loan: No      |
| NiSource, Inc.                                            | NiSource, Inc.                                                                | CUSIP: 65473PAN5<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30606.79     | 0.02%             | 2028-03-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                      | Clear Channel Outdoor Holdings, Inc.                                          | CUSIP: 18453HAA4<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44938.91     | 0.03%             | 2027-08-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Capital One Financial Corp.                               | Capital One Financial Corp.                                                   | CUSIP: 14040HDJ1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     41000 | PA      | $42090.90     | 0.03%             | 2036-01-30      | Variable      | 6.18%                 | No            |                  2 | On Loan: No      |
| Sherwin-Williams Co. (The)                                | Sherwin-Williams Co. (The)                                                    | CUSIP: 824348BW5<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    276000 | PA      | $275322.91    | 0.19%             | 2035-08-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| State Street Corp.                                        | State Street Corp., Series I                                                  | CUSIP: 857477CH4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |     96000 | PA      | $98975.62     | 0.07%             | 2029-03-15      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| DENTSPLY SIRONA, Inc.                                     | DENTSPLY SIRONA, Inc.                                                         | CUSIP: 24906PAB5<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | DBT              | CORP              | US        |    158000 | PA      | $159295.92    | 0.11%             | 2055-09-12      | Variable      | 8.38%                 | No            |                  2 | On Loan: No      |
| MILE Trust                                                | MILE Trust, Series 2025-STNE, Class A                                         | CUSIP: 59918AAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    730000 | PA      | $731138.22    | 0.51%             | 2042-07-15      | Floating      | 5.84%                 | Yes           |                  2 | On Loan: No      |
| Benefit Street Partners CLO XXIII Ltd.                    | Benefit Street Partners CLO XXIII Ltd., Series 2021-23A, Class A1R            | CUSIP: 08186VAN0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000471.00   | 0.70%             | 2034-04-25      | Floating      | 5.42%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                           | Citigroup, Inc., Series GG                                                    | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    409000 | PA      | $412476.50    | 0.29%             | 2030-08-15      | Variable      | 6.87%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3140QPH59<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     30910 | PA      | $28935.92     | 0.02%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Philip Morris International, Inc.                         | Philip Morris International, Inc.                                             | CUSIP: 718172CP2<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    213000 | PA      | $190998.34    | 0.13%             | 2030-05-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Kite Realty Group LP                                      | Kite Realty Group LP                                                          | CUSIP: 49803XAA1<br>LEI: 549300X6R2GYI8Y3OD81 | Long             | DBT              | CORP              | US        |     77000 | PA      | $76287.90     | 0.05%             | 2026-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Florida Gas Transmission Co. LLC                          | Florida Gas Transmission Co. LLC                                              | CUSIP: 340711BC3<br>LEI: 549300Q0UQF87NXNOC32 | Long             | DBT              | CORP              | US        |    426000 | PA      | $434683.84    | 0.30%             | 2035-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                            | BNP Paribas SA                                                                | CUSIP: 05602XQQ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $203750.00    | 0.14%             | 2035-06-27      | Variable      | 7.45%                 | Yes           |                  2 | On Loan: No      |
| Marathon Petroleum Corp.                                  | Marathon Petroleum Corp.                                                      | CUSIP: 56585ABL5<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | DBT              | CORP              | US        |    178000 | PA      | $180598.61    | 0.13%             | 2035-03-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| American Express Co.                                      | American Express Co.                                                          | CUSIP: 025816EL9<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    389000 | PA      | $389410.78    | 0.27%             | 2029-07-20      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3140LS2C9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    187351 | PA      | $147314.57    | 0.10%             | 2051-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Westinghouse Air Brake Technologies Corp.                 | Westinghouse Air Brake Technologies Corp.                                     | CUSIP: 960386AT7<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |    489000 | PA      | $498497.97    | 0.35%             | 2035-05-29      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                            | Morgan Stanley                                                                | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    516000 | PA      | $439832.90    | 0.31%             | 2036-09-16      | Variable      | 2.48%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3132DMBH7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    288370 | PA      | $249931.76    | 0.18%             | 2049-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Flutter Treasury DAC                                      | Flutter Treasury DAC                                                          | CUSIP: 344045AB5<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |    599000 | PA      | $602950.41    | 0.42%             | 2031-06-04      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| American Express Co.                                      | American Express Co.                                                          | CUSIP: 025816EJ4<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    261000 | PA      | $260485.61    | 0.18%             | 2029-07-20      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| Jefferson Capital Holdings LLC                            | Jefferson Capital Holdings LLC                                                | CUSIP: 472481AC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    280000 | PA      | $292136.04    | 0.20%             | 2030-05-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Bell Telephone Co. of Canada or Bell Canada               | Bell Canada                                                                   | CUSIP: 0778FPAQ2<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |    142000 | PA      | $144114.39    | 0.10%             | 2055-09-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                  | U.S. Treasury Notes                                                           | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1422800 | PA      | $1410350.50   | 0.99%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO Ltd.                              | Bain Capital Credit CLO Ltd., Series 2021-4A, Class A1R                       | CUSIP: 05685AAQ1<br>LEI: 254900YJBP8866ZPO033 | Long             | ABS-CBDO         | CORP              | KY        |    710000 | PA      | $711270.90    | 0.50%             | 2034-10-20      | Floating      | 5.53%                 | Yes           |                  2 | On Loan: No      |
| Woodside Finance Ltd.                                     | Woodside Finance Ltd.                                                         | CUSIP: 980236AU7<br>LEI: 254900AIZKU6TGRRNZ98 | Long             | DBT              | CORP              | AU        |     12000 | PA      | $12231.19     | 0.01%             | 2032-05-19      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Republic of Guatemala                                     | Republic of Guatemala                                                         | CUSIP: 401494BA6<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    200000 | PA      | $201012.00    | 0.14%             | 2036-08-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Air Lease Corp.                                           | Air Lease Corp., Series B                                                     | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    370000 | PA      | $365492.66    | 0.26%             | 2026-06-15      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| EFMT                                                      | EFMT, Series 2025-NQM2, Class A1                                              | CUSIP: 281917AC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    205400 | PA      | $205465.18    | 0.14%             | 2070-06-25      | Variable      | 5.60%                 | Yes           |                  2 | On Loan: No      |
| Ares Strategic Income Fund                                | Ares Strategic Income Fund                                                    | CUSIP: 04020EAL1<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |     57000 | PA      | $56905.81     | 0.04%             | 2028-09-09      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| Nomura Holdings, Inc.                                     | Nomura Holdings, Inc.                                                         | CUSIP: 65535HCB3<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    587000 | PA      | $591684.21    | 0.41%             | 2035-06-29      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                      | JPMorgan Chase & Co.                                                          | CUSIP: 46647PEY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    556000 | PA      | $568607.34    | 0.40%             | 2031-04-22      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| American Express Co.                                      | American Express Co.                                                          | CUSIP: 025816ED7<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    556000 | PA      | $560869.75    | 0.39%             | 2029-04-25      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                     | United Mexican States                                                         | CUSIP: 91087BBE9<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    200000 | PA      | $201200.00    | 0.14%             | 2032-07-02      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| United States of America                                  | U.S. Treasury Notes                                                           | CUSIP: 91282CNM9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    459300 | PA      | $459156.47    | 0.32%             | 2028-07-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                            | Broadcom, Inc.                                                                | CUSIP: 11135FBY6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    668000 | PA      | $684513.69    | 0.48%             | 2031-11-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                                     | Westpac Banking Corp.                                                         | CUSIP: 961214GD9<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    132000 | PA      | $132872.52    | 0.09%             | 2030-07-01      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3138X13A2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    255613 | PA      | $236950.77    | 0.17%             | 2043-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| TELUS Corp.                                               | TELUS Corp.                                                                   | CUSIP: 87971MCL5<br>LEI: L2TEUTQ8OSHMJWVLCE40 | Long             | DBT              | CORP              | CA        |    220000 | PA      | $222785.95    | 0.16%             | 2055-10-15      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| EOG Resources, Inc.                                       | EOG Resources, Inc.                                                           | CUSIP: 26875PBA8<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    153000 | PA      | $154462.99    | 0.11%             | 2055-07-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Howard Midstream Energy Partners LLC                      | Howard Midstream Energy Partners LLC                                          | CUSIP: 442722AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     21000 | PA      | $21712.34     | 0.02%             | 2032-07-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                    | Santander Drive Auto Receivables Trust, Series 2025-1, Class C                | CUSIP: 80288DAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     43000 | PA      | $43353.28     | 0.03%             | 2031-03-17      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Burlington Northern Santa Fe LLC                          | Burlington Northern Santa Fe LLC                                              | CUSIP: 12189LBM2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    178000 | PA      | $180911.32    | 0.13%             | 2056-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                          | CCO Holdings LLC                                                              | CUSIP: 1248EPCJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    143000 | PA      | $129753.11    | 0.09%             | 2032-05-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                     | Bank of America Corp.                                                         | CUSIP: 06055HAK9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    312000 | PA      | $310926.70    | 0.22%             | 2030-07-26      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| NXP BV                                                    | NXP BV                                                                        | CUSIP: 62954HAY4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    157000 | PA      | $148493.24    | 0.10%             | 2030-05-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Raising Cane's Restaurants LLC                            | Raising Cane's Restaurants LLC                                                | CUSIP: 75103AAA3<br>LEI: 254900V6ADXFWHYOED66 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105511.60    | 0.07%             | 2029-05-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                           | BRAVO Residential Funding Trust, Series 2023-NQM5, Class A2                   | CUSIP: 10569UAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     64678 | PA      | $65052.01     | 0.05%             | 2063-06-25      | Variable      | 6.86%                 | Yes           |                  2 | On Loan: No      |
| Molex Electronic Technologies LLC                         | Molex Electronic Technologies LLC                                             | CUSIP: 60856BAE4<br>LEI: 549300WTBVUFUPSIWI20 | Long             | DBT              | CORP              | US        |    222000 | PA      | $222203.02    | 0.16%             | 2028-04-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Romania                                                   | Romania Government Bond                                                       | CUSIP: 77586RAX8<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    334000 | PA      | $333582.50    | 0.23%             | 2036-05-16      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Verizon Communications, Inc.                              | Verizon Communications, Inc.                                                  | CUSIP: 92343VGZ1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    668000 | PA      | $670688.52    | 0.47%             | 2035-04-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3132DNZ48<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2869493 | PA      | $2668419.05   | 1.87%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Co.                                     | Saudi Arabian Oil Co.                                                         | CUSIP: 80414L2X2<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | NUSS              | SA        |    200000 | PA      | $201353.18    | 0.14%             | 2030-06-02      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                       | U.S. Treasury Long Bond                                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        30 | NC      | $17767.80     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GCAT Trust                                                | GCAT Trust, Series 2025-NQM4, Class A1A                                       | CUSIP: 367923AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    705000 | PA      | $705184.50    | 0.49%             | 2070-06-25      | Variable      | 5.53%                 | Yes           |                  2 | On Loan: No      |
| CVS Health Corp.                                          | CVS Health Corp.                                                              | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    281000 | PA      | $289104.04    | 0.20%             | 2055-03-10      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| WEST Trust                                                | WEST Trust, Series 2025-ROSE, Class A                                         | CUSIP: 955909AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $1064209.76   | 0.75%             | 2035-04-10      | Variable      | 5.28%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3132DUUA3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    683003 | PA      | $585285.92    | 0.41%             | 2052-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NiSource, Inc.                                            | NiSource, Inc.                                                                | CUSIP: 65473PAQ8<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    142000 | PA      | $144201.10    | 0.10%             | 2034-04-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                           | Goldman Sachs Group, Inc. (The)                                               | CUSIP: 38141GZT4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    335000 | PA      | $334171.96    | 0.23%             | 2027-06-15      | Variable      | 4.39%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3140XGQ69<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    290631 | PA      | $251574.74    | 0.18%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DB Master Finance LLC                                     | DB Master Finance LLC, Series 2019-1A, Class A23                              | CUSIP: 233046AL5<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |     98962 | PA      | $96715.60     | 0.07%             | 2049-05-20      | Fixed         | 4.35%                 | Yes           |                  2 | On Loan: No      |
| Nasdaq, Inc.                                              | Nasdaq, Inc.                                                                  | CUSIP: 63111XAH4<br>LEI: 549300L8X1Q78ERXFD06 | Long             | DBT              | CORP              | US        |     69000 | PA      | $70851.37     | 0.05%             | 2028-06-28      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Jackson National Life Global Funding                      | Jackson National Life Global Funding                                          | CUSIP: 46849CJP7<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | CORP              | US        |    440000 | PA      | $440812.12    | 0.31%             | 2028-06-05      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| CubeSmart LP                                              | CubeSmart LP                                                                  | CUSIP: 22966RAF3<br>LEI: 549300MPHKO3I3FJRA97 | Long             | DBT              | CORP              | US        |    139000 | PA      | $129153.89    | 0.09%             | 2030-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                     | OneMain Finance Corp.                                                         | CUSIP: 682691AK6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    285000 | PA      | $293733.54    | 0.21%             | 2032-09-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                        | Energy Transfer LP                                                            | CUSIP: 29279FAA7<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     44000 | PA      | $43402.96     | 0.03%             | 2049-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Westinghouse Air Brake Technologies Corp.                 | Westinghouse Air Brake Technologies Corp.                                     | CUSIP: 960386AS9<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30367.90     | 0.02%             | 2030-05-29      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Union Electric Co.                                        | Union Electric Co.                                                            | CUSIP: 906548DA7<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |    222000 | PA      | $225226.75    | 0.16%             | 2035-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Synchrony Financial                                       | Synchrony Financial                                                           | CUSIP: 87165BAX1<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |     28000 | PA      | $27983.64     | 0.02%             | 2029-07-29      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| PepsiCo, Inc.                                             | PepsiCo, Inc.                                                                 | CUSIP: 713448GH5<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    111000 | PA      | $110478.58    | 0.08%             | 2030-07-23      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Aircastle Ltd.                                            | Aircastle Ltd.                                                                | CUSIP: 00929JAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    150000 | PA      | $149728.31    | 0.10%             | 2030-09-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Global Payments, Inc.                                     | Global Payments, Inc.                                                         | CUSIP: 37940XAQ5<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126625.45    | 0.09%             | 2032-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Aviation Capital Group LLC                                | Aviation Capital Group LLC                                                    | CUSIP: 05369AAT8<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    258000 | PA      | $255420.90    | 0.18%             | 2030-10-24      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| Subway Funding LLC                                        | Subway Funding LLC, Series 2024-3A, Class A23                                 | CUSIP: 864300AL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     92302 | PA      | $90154.05     | 0.06%             | 2054-07-30      | Fixed         | 5.91%                 | Yes           |                  2 | On Loan: No      |
| United Airlines, Inc.                                     | United Airlines, Inc.                                                         | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |     51000 | PA      | $49802.27     | 0.03%             | 2029-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                        | Venture Global Plaquemines LNG LLC                                            | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    135000 | PA      | $145792.38    | 0.10%             | 2033-05-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| GreenSky Home Improvement Issuer Trust                    | GreenSky Home Improvement Issuer Trust, Series 2024-2, Class A4               | CUSIP: 39571XAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    205109 | PA      | $206542.42    | 0.14%             | 2059-10-27      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| Indiana Michigan Power Co.                                | Indiana Michigan Power Co.                                                    | CUSIP: 454889AV8<br>LEI: JHR9V15J0ZRG02MIRD06 | Long             | DBT              | CORP              | US        |     21000 | PA      | $20597.75     | 0.01%             | 2053-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| J M Smucker Co. (The)                                     | J M Smucker Co. (The)                                                         | CUSIP: 832696AZ1<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |     68000 | PA      | $72752.22     | 0.05%             | 2053-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RCKT Mortgage Trust                                       | RCKT Mortgage Trust, Series 2025-CES6, Class A1A                              | CUSIP: 748949AA2<br>LEI: 2549002LEW4WNQBOMB89 | Long             | ABS-MBS          | CORP              | US        |   1023382 | PA      | $1027844.22   | 0.72%             | 2055-06-25      | Variable      | 5.47%                 | Yes           |                  2 | On Loan: No      |
| CoreWeave, Inc.                                           | CoreWeave, Inc.                                                               | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109531.00    | 0.08%             | 2031-02-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Broadcom, Inc.                                            | Broadcom, Inc.                                                                | CUSIP: 11135FCM1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    169000 | PA      | $169799.73    | 0.12%             | 2035-07-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| EOG Resources, Inc.                                       | EOG Resources, Inc.                                                           | CUSIP: 26875PAZ4<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    101000 | PA      | $101753.25    | 0.07%             | 2036-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                     | NextEra Energy Capital Holdings, Inc.                                         | CUSIP: 65339KDF4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     61000 | PA      | $62956.03     | 0.04%             | 2055-08-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Carrier Global Corp.                                      | Carrier Global Corp.                                                          | CUSIP: 14448CBD5<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12823.35     | 0.01%             | 2054-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Enpro, Inc.                                               | Enpro, Inc.                                                                   | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |     94000 | PA      | $94834.34     | 0.07%             | 2033-06-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Delta Air Lines, Inc.                                     | Delta Air Lines, Inc.                                                         | CUSIP: 247361A32<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    128000 | PA      | $129206.26    | 0.09%             | 2030-07-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Honda Motor Co. Ltd.                                      | Honda Motor Co. Ltd.                                                          | CUSIP: 438127AF9<br>LEI: 549300P7ZYCQJ36CCS16 | Long             | DBT              | CORP              | JP        |    233000 | PA      | $232977.77    | 0.16%             | 2035-07-08      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| JBS USA Holding Lux Sarl                                  | JBS USA Holding Lux Sarl                                                      | CUSIP: 472140AJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    142000 | PA      | $139956.62    | 0.10%             | 2066-04-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                            | Enterprise Fleet Financing LLC, Series 2025-2, Class A3                       | CUSIP: 29375TAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50000 | PA      | $50013.49     | 0.04%             | 2029-06-20      | Fixed         | 4.41%                 | Yes           |                  2 | On Loan: No      |
| Oracle Corp.                                              | Oracle Corp.                                                                  | CUSIP: 68389XCU7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    264000 | PA      | $237788.62    | 0.17%             | 2054-09-27      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Ryder System, Inc.                                        | Ryder System, Inc.                                                            | CUSIP: 78355HLF4<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201282.11    | 0.14%             | 2030-06-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Bell Telephone Co. of Canada or Bell Canada               | Bell Telephone Co. of Canada or Bell Canada                                   | CUSIP: 0778FPAP4<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |    141000 | PA      | $143455.23    | 0.10%             | 2055-09-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Intel Corp.                                               | Intel Corp.                                                                   | CUSIP: 458140CJ7<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |     21000 | PA      | $18906.87     | 0.01%             | 2053-02-10      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                     | Bank of America Corp.                                                         | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    179000 | PA      | $183305.49    | 0.13%             | 2030-05-01      | Variable      | 6.63%                 | No            |                  2 | On Loan: No      |
| N/A                                                       | U.S. Treasury 10 Year Note                                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         1 | NC      | $-1.42        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Bain Capital Credit CLO Ltd.                              | Bain Capital Credit CLO Ltd., Series 2021-5A, Class A1R                       | CUSIP: 05682EAN3<br>LEI: 2549004H0JOYEPRCTE90 | Long             | ABS-CBDO         | CORP              | KY        |    710000 | PA      | $711314.92    | 0.50%             | 2034-10-23      | Floating      | 5.47%                 | Yes           |                  2 | On Loan: No      |
| Genuine Parts Co.                                         | Genuine Parts Co.                                                             | CUSIP: 372460AF2<br>LEI: 549300D46DQVEU651W04 | Long             | DBT              | CORP              | US        |    668000 | PA      | $676326.55    | 0.47%             | 2029-08-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                       | Sirius XM Radio LLC                                                           | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    302000 | PA      | $287439.83    | 0.20%             | 2028-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Symetra Life Insurance Co.                                | Symetra Life Insurance Co.                                                    | CUSIP: 87151KAA7<br>LEI: 2CKADF5K7JYB5EG0VY36 | Long             | DBT              | CORP              | US        |     56000 | PA      | $57168.50     | 0.04%             | 2055-10-01      | Fixed         | 6.55%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                           | Citigroup, Inc., Series Z                                                     | CUSIP: 172967PC9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    349000 | PA      | $362562.49    | 0.25%             | 2028-05-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                      | Glencore Funding LLC                                                          | CUSIP: 378272BZ0<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    113000 | PA      | $114796.67    | 0.08%             | 2030-04-01      | Fixed         | 5.19%                 | Yes           |                  2 | On Loan: No      |
| Ares Capital Corp.                                        | Ares Capital Corp.                                                            | CUSIP: 04010LBK8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    113000 | PA      | $112798.41    | 0.08%             | 2030-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Macy's Retail Holdings LLC                                | Macy's Retail Holdings LLC                                                    | CUSIP: 55617LAS1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     89000 | PA      | $89339.01     | 0.06%             | 2033-08-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Bimbo Bakeries USA, Inc.                                  | Bimbo Bakeries USA, Inc.                                                      | CUSIP: 09031WAE3<br>LEI: 549300HOXXHHT7926W92 | Long             | DBT              | CORP              | US        |    207000 | PA      | $205036.48    | 0.14%             | 2036-01-09      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                       | Connecticut Avenue Securities Trust, Series 2025-R04, Class 1A1               | CUSIP: 20755TAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     75590 | PA      | $75590.47     | 0.05%             | 2045-05-25      | Floating      | 5.35%                 | Yes           |                  2 | On Loan: No      |
| Citizens Financial Group, Inc.                            | Citizens Financial Group, Inc.                                                | CUSIP: 174610BG9<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |     91000 | PA      | $98482.20     | 0.07%             | 2035-04-25      | Variable      | 6.64%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                         | Wells Fargo & Co., Series BB                                                  | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     70000 | PA      | $69346.91     | 0.05%             | 2026-03-15      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3140XMSS6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    657031 | PA      | $541473.98    | 0.38%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                        | Venture Global Plaquemines LNG LLC                                            | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     42000 | PA      | $43207.54     | 0.03%             | 2034-01-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                           | Citigroup, Inc.                                                               | CUSIP: 172967QA2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    179000 | PA      | $180699.90    | 0.13%             | 2031-05-07      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                               | Amgen, Inc.                                                                   | CUSIP: 031162BP4<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    156000 | PA      | $143675.00    | 0.10%             | 2043-05-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Bayview Opportunity Master Fund VII Trust                 | Bayview Opportunity Master Fund VII Trust, Series 2024-SN1, Class C           | CUSIP: 072926AE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    336000 | PA      | $339380.06    | 0.24%             | 2028-12-15      | Fixed         | 5.83%                 | Yes           |                  2 | On Loan: No      |
| Takeda US Financing, Inc.                                 | Takeda US Financing, Inc.                                                     | CUSIP: 87406BAA0<br>LEI: 254900ZGPIBGBZ2N3A33 | Long             | DBT              | CORP              | US        |    587000 | PA      | $584797.93    | 0.41%             | 2035-07-07      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Vail Resorts, Inc.                                        | Vail Resorts, Inc.                                                            | CUSIP: 91879QAQ2<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |     39000 | PA      | $39214.50     | 0.03%             | 2030-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Golub Capital Private Credit Fund                         | Golub Capital Private Credit Fund                                             | CUSIP: 38179RAE5<br>LEI: 254900B5KBW6OY1F9951 | Long             | DBT              | CORP              | US        |     64000 | PA      | $63755.63     | 0.04%             | 2028-08-15      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3142GUTX1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1088902 | PA      | $1106753.33   | 0.78%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Univision Communications, Inc.                            | Univision Communications, Inc.                                                | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20752.02     | 0.01%             | 2032-08-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3140QPSU2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    344882 | PA      | $327821.21    | 0.23%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                        | Energy Transfer LP                                                            | CUSIP: 29273VBC3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    355000 | PA      | $364022.33    | 0.26%             | 2054-10-01      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp.                                     | Las Vegas Sands Corp.                                                         | CUSIP: 517834AM9<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |     84000 | PA      | $85336.81     | 0.06%             | 2028-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Jane Street Group                                         | Jane Street Group                                                             | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    282000 | PA      | $288593.44    | 0.20%             | 2033-05-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Private Bank NA                            | Morgan Stanley Private Bank NA                                                | CUSIP: 61776NVG5<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251126.95    | 0.18%             | 2031-07-18      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| US Bank NA                                                | US Bank NA, Series 2023-1, Class B                                            | CUSIP: 90357PAV6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     82693 | PA      | $83571.67     | 0.06%             | 2032-08-25      | Fixed         | 6.79%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                      | JPMorgan Chase & Co.                                                          | CUSIP: 46647PFC5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    139000 | PA      | $140800.75    | 0.10%             | 2036-07-23      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| Hess Midstream Operations LP                              | Hess Midstream Operations LP                                                  | CUSIP: 428102AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     34000 | PA      | $34147.90     | 0.02%             | 2030-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| United Airlines Pass-Through Trust                        | United Airlines Pass-Through Trust, Series 2016-1, Class B                    | CUSIP: 90933HAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     33976 | PA      | $33631.12     | 0.02%             | 2026-01-07      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                        | Venture Global Plaquemines LNG LLC                                            | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     16000 | PA      | $16459.29     | 0.01%             | 2036-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Amcor Flexibles North America, Inc.                       | Amcor Flexibles North America, Inc.                                           | CUSIP: 02344AAD0<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |     81000 | PA      | $82156.21     | 0.06%             | 2030-03-17      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| Symphony CLO XXIV Ltd.                                    | Symphony CLO XXIV Ltd., Series 2020-24A, Class AR                             | CUSIP: 87167QAL2<br>LEI: 5493007X3UVVYJ005O73 | Long             | ABS-CBDO         | CORP              | KY        |    527835 | PA      | $527776.03    | 0.37%             | 2032-01-23      | Floating      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                  | U.S. Treasury Bonds                                                           | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1819000 | PA      | $1742545.16   | 1.22%             | 2055-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                           | Goldman Sachs Group, Inc. (The)                                               | CUSIP: 38141GFD1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    179000 | PA      | $196587.81    | 0.14%             | 2037-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Athene Holding Ltd.                                       | Athene Holding Ltd.                                                           | CUSIP: 04686JAM3<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |    203000 | PA      | $200407.69    | 0.14%             | 2055-06-28      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                 | HCA, Inc.                                                                     | CUSIP: 404121AK1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    115000 | PA      | $115465.78    | 0.08%             | 2034-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                | AT&T, Inc.                                                                    | CUSIP: 00206RMM1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    476000 | PA      | $396880.74    | 0.28%             | 2033-12-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Whirlpool Corp.                                           | Whirlpool Corp.                                                               | CUSIP: 963320BE5<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14780.69     | 0.01%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Omega Healthcare Investors, Inc.                          | Omega Healthcare Investors, Inc.                                              | CUSIP: 681936BP4<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | DBT              | CORP              | US        |    152000 | PA      | $152482.64    | 0.11%             | 2030-07-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                       | Hilton Domestic Operating Co., Inc.                                           | CUSIP: 432833AS0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    361000 | PA      | $361342.95    | 0.25%             | 2033-09-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Republic of Guatemala                                     | Republic of Guatemala                                                         | CUSIP: 401494BB4<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    200000 | PA      | $198452.00    | 0.14%             | 2055-08-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| EOG Resources, Inc.                                       | EOG Resources, Inc.                                                           | CUSIP: 26875PAX9<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |     46000 | PA      | $46130.73     | 0.03%             | 2028-07-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| CVR Energy, Inc.                                          | CVR Energy, Inc.                                                              | CUSIP: 12662PAD0<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95888.29     | 0.07%             | 2028-02-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Toll Brothers Finance Corp.                               | Toll Brothers Finance Corp.                                                   | CUSIP: 88947EAX8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    132000 | PA      | $132634.31    | 0.09%             | 2035-06-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp.                                         | NTT Finance Corp.                                                             | CUSIP: 62954WAV7<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |    211000 | PA      | $214270.06    | 0.15%             | 2035-07-16      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Eagle Funding Luxco Sarl                                  | Eagle Funding Luxco Sarl                                                      | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |   1108000 | PA      | $1112986.00   | 0.78%             | 2030-08-17      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                     | FHLMC STACR REMIC Trust, Series 2023-DNA1, Class M1A                          | CUSIP: 35564KP37<br>LEI: 5493000IRILHAKSCHN59 | Long             | ABS-MBS          | CORP              | US        |   1167682 | PA      | $1186295.17   | 0.83%             | 2043-03-25      | Floating      | 6.45%                 | Yes           |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                                       | Kinder Morgan, Inc.                                                           | CUSIP: 49456BBB6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |     44000 | PA      | $44897.84     | 0.03%             | 2030-06-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3140XHQK6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    282287 | PA      | $270366.19    | 0.19%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Co.                                     | Saudi Arabian Oil Co.                                                         | CUSIP: 80414L3B9<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | NUSS              | SA        |    200000 | PA      | $202713.91    | 0.14%             | 2035-06-02      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                         | Clarios Global LP                                                             | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     54000 | PA      | $55675.62     | 0.04%             | 2030-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Lockheed Martin Corp.                                     | Lockheed Martin Corp.                                                         | CUSIP: 539830CK3<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    134000 | PA      | $133656.44    | 0.09%             | 2028-08-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                                           | Zayo Issuer LLC, Series 2025-2A, Class A2                                     | CUSIP: 98919WAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    694311 | PA      | $708763.57    | 0.50%             | 2055-06-20      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Boston Properties LP                                      | Boston Properties LP                                                          | CUSIP: 10112RBJ2<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |    106000 | PA      | $106624.62    | 0.07%             | 2035-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Intel Corp.                                               | Intel Corp.                                                                   | CUSIP: 458140CM0<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    175000 | PA      | $154635.37    | 0.11%             | 2054-02-21      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel SA                     | Banque Federative du Credit Mutuel SA                                         | CUSIP: 06675DCR1<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    347000 | PA      | $347876.13    | 0.24%             | 2028-10-16      | Fixed         | 4.59%                 | Yes           |                  2 | On Loan: No      |
| BSTN Commercial Mortgage Trust                            | BSTN Commercial Mortgage Trust, Series 2025-1C, Class A                       | CUSIP: 05615EAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1013469.60   | 0.71%             | 2044-06-15      | Variable      | 5.37%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3132E0FL1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    584783 | PA      | $483741.18    | 0.34%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 31418BLE4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    195482 | PA      | $190788.49    | 0.13%             | 2029-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3140XR3K9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1044415 | PA      | $1039755.41   | 0.73%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Travelers Cos., Inc. (The)                                | Travelers Cos., Inc. (The)                                                    | CUSIP: 89417EAU3<br>LEI: 549300Y650407RU8B149 | Long             | DBT              | CORP              | US        |     66000 | PA      | $66450.17     | 0.05%             | 2055-07-24      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Takeda US Financing, Inc.                                 | Takeda US Financing, Inc.                                                     | CUSIP: 87406BAB8<br>LEI: 254900ZGPIBGBZ2N3A33 | Long             | DBT              | CORP              | US        |    587000 | PA      | $586279.05    | 0.41%             | 2055-07-07      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO Ltd.                              | Bain Capital Credit CLO Ltd., Series 2021-3A, Class AR                        | CUSIP: 05683NAJ1<br>LEI: 254900XV68IP5ZAT0548 | Long             | ABS-CBDO         | CORP              | KY        |    710000 | PA      | $711101.92    | 0.50%             | 2034-07-24      | Floating      | 5.38%                 | Yes           |                  2 | On Loan: No      |
| PepsiCo, Inc.                                             | PepsiCo, Inc.                                                                 | CUSIP: 713448GJ1<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    128000 | PA      | $127896.49    | 0.09%             | 2032-07-23      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| AECOM                                                     | AECOM                                                                         | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    297000 | PA      | $299414.61    | 0.21%             | 2033-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3142GSFR4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    577490 | PA      | $586579.71    | 0.41%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Niagara Mohawk Power Corp.                                | Niagara Mohawk Power Corp.                                                    | CUSIP: 653522DT6<br>LEI: 3T97Y9RR5EN5Y18QHB56 | Long             | DBT              | CORP              | US        |    163000 | PA      | $161874.50    | 0.11%             | 2030-10-03      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                              | Mizuho Financial Group, Inc.                                                  | CUSIP: 60687YDM8<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    599000 | PA      | $602134.14    | 0.42%             | 2036-07-08      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| Southern Natural Gas Co. LLC                              | Southern Natural Gas Co. LLC                                                  | CUSIP: 84346LAD2<br>LEI: 254900KDLS1X42SY7037 | Long             | DBT              | CORP              | US        |     56000 | PA      | $56096.55     | 0.04%             | 2035-08-01      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                  | U.S. Treasury Notes                                                           | CUSIP: 91282CNL1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2164900 | PA      | $2156781.63   | 1.51%             | 2027-06-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Molex Electronic Technologies LLC                         | Molex Electronic Technologies LLC                                             | CUSIP: 60856BAF1<br>LEI: 549300WTBVUFUPSIWI20 | Long             | DBT              | CORP              | US        |    222000 | PA      | $222708.43    | 0.16%             | 2032-04-30      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Cross Mortgage Trust                                      | Cross Mortgage Trust, Series 2024-H2, Class A1                                | CUSIP: 22757BAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     71879 | PA      | $72282.55     | 0.05%             | 2069-04-25      | Variable      | 6.09%                 | Yes           |                  2 | On Loan: No      |
| Citizens Financial Group, Inc.                            | Citizens Financial Group, Inc.                                                | CUSIP: 174610BF1<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |     74000 | PA      | $76412.64     | 0.05%             | 2030-01-23      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| VDCM Commercial Mortgage Trust                            | VDCM Commercial Mortgage Trust, Series 2025-AZ, Class D                       | CUSIP: 91825CAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $199914.24    | 0.14%             | 2044-07-13      | Variable      | 6.43%                 | Yes           |                  2 | On Loan: No      |
| JBS USA Holding Lux Sarl                                  | JBS USA Holding Lux Sarl                                                      | CUSIP: 472140AE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    516000 | PA      | $513899.88    | 0.36%             | 2036-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3133B0SS3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2761848 | PA      | $2167037.67   | 1.52%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| New England Power Co.                                     | New England Power Co.                                                         | CUSIP: 644188BH6<br>LEI: 549300DTVRGN9GYD5U85 | Long             | DBT              | CORP              | US        |    121000 | PA      | $121671.64    | 0.09%             | 2052-11-25      | Fixed         | 5.94%                 | Yes           |                  2 | On Loan: No      |
| Nasdaq, Inc.                                              | Nasdaq, Inc.                                                                  | CUSIP: 63111XAK7<br>LEI: 549300L8X1Q78ERXFD06 | Long             | DBT              | CORP              | US        |     16000 | PA      | $16262.19     | 0.01%             | 2053-08-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Synchrony Financial                                       | Synchrony Financial                                                           | CUSIP: 87165BAY9<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |     42000 | PA      | $42126.43     | 0.03%             | 2036-07-29      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| JBS USA Holding Lux Sarl                                  | JBS USA Holding Lux Sarl                                                      | CUSIP: 472140AG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    440000 | PA      | $436264.40    | 0.31%             | 2056-03-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Travelers Cos., Inc. (The)                                | Travelers Cos., Inc. (The)                                                    | CUSIP: 89417EAT6<br>LEI: 549300Y650407RU8B149 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40098.37     | 0.03%             | 2035-07-24      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC                                          | CCO Holdings LLC                                                              | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    172000 | PA      | $156066.68    | 0.11%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Subway Funding LLC                                        | Subway Funding LLC, Series 2024-1A, Class A2II                                | CUSIP: 864300AC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     94288 | PA      | $95931.86     | 0.07%             | 2054-07-30      | Fixed         | 6.27%                 | Yes           |                  2 | On Loan: No      |
| YPF SA                                                    | YPF SA                                                                        | CUSIP: 984245AY6<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | NUSS              | AR        |     20000 | PA      | $20810.36     | 0.01%             | 2031-09-11      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| PepsiCo, Inc.                                             | PepsiCo, Inc.                                                                 | CUSIP: 713448GL6<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    304000 | PA      | $302529.54    | 0.21%             | 2029-01-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                     | FHLMC                                                                         | CUSIP: 3128PUHH8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |         1 | PA      | $0.64         | 0.00%             | 2026-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Barbados                                                  | Barbados Government Bond                                                      | CUSIP: 067070AK8<br>LEI: 529900UD1KUUS4SFD905 | Long             | DBT              | NUSS              | BB        |     49000 | PA      | $48859.37     | 0.03%             | 2035-06-26      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Aethon United BR LP                                       | Aethon United BR LP                                                           | CUSIP: 00810GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    138000 | PA      | $144588.26    | 0.10%             | 2029-10-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Frontier Issuer LLC                                       | Frontier Issuer LLC, Series 2023-1, Class A2                                  | CUSIP: 35910EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     95000 | PA      | $96194.95     | 0.07%             | 2053-08-20      | Fixed         | 6.60%                 | Yes           |                  2 | On Loan: No      |
| National Rural Utilities Cooperative Finance Corp.        | National Rural Utilities Cooperative Finance Corp.                            | CUSIP: 637432PC3<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    668000 | PA      | $668103.97    | 0.47%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cousins Properties LP                                     | Cousins Properties LP                                                         | CUSIP: 222793AB7<br>LEI: 254900ZQIHJ5FQH4C329 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80759.05     | 0.06%             | 2032-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                    | Truist Financial Corp.                                                        | CUSIP: 89788MAP7<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    231000 | PA      | $241521.62    | 0.17%             | 2034-06-08      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivables Trust                     | Westlake Automobile Receivables Trust, Series 2025-1A, Class C                | CUSIP: 96043VAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     25000 | PA      | $25222.89     | 0.02%             | 2030-10-15      | Fixed         | 5.14%                 | Yes           |                  2 | On Loan: No      |
| Royal Bank of Canada                                      | Royal Bank of Canada                                                          | CUSIP: 780082AV5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    587000 | PA      | $593457.00    | 0.42%             | 2085-08-24      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                           | Citigroup, Inc., Series W                                                     | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     88000 | PA      | $87412.50     | 0.06%             | 2025-12-10      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                       | GS Mortgage-Backed Securities Trust, Series 2025-HE1, Class A1                | CUSIP: 36272NAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    330000 | PA      | $329989.11    | 0.23%             | 2055-10-25      | Floating      | 6.09%                 | Yes           |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                     | NextEra Energy Capital Holdings, Inc.                                         | CUSIP: 65339KDL1<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    668000 | PA      | $679611.42    | 0.48%             | 2035-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Honda Motor Co. Ltd.                                      | Honda Motor Co. Ltd.                                                          | CUSIP: 438127AD4<br>LEI: 549300P7ZYCQJ36CCS16 | Long             | DBT              | CORP              | JP        |    233000 | PA      | $232596.74    | 0.16%             | 2028-07-08      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| Alphabet, Inc.                                            | Alphabet, Inc.                                                                | CUSIP: 02079KAN7<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    222000 | PA      | $215564.96    | 0.15%             | 2065-05-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                     | Bank of America Corp.                                                         | CUSIP: 06051GLH0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    450000 | PA      | $458428.41    | 0.32%             | 2034-04-25      | Variable      | 5.29%                 | No            |                  2 | On Loan: No      |
| VDCM Commercial Mortgage Trust                            | VDCM Commercial Mortgage Trust, Series 2025-AZ, Class B                       | CUSIP: 91825CAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    105000 | PA      | $104513.48    | 0.07%             | 2044-07-13      | Variable      | 5.48%                 | Yes           |                  2 | On Loan: No      |
| Lockheed Martin Corp.                                     | Lockheed Martin Corp.                                                         | CUSIP: 539830CM9<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    171000 | PA      | $171001.84    | 0.12%             | 2035-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                          | Boeing Co. (The)                                                              | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    132000 | PA      | $145089.59    | 0.10%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3140E0E35<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |         0 | PA      | $0.01         | 0.00%             | 2045-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Paramount Global                                          | Paramount Global                                                              | CUSIP: 92553PAU6<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    115000 | PA      | $102101.87    | 0.07%             | 2043-09-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Niagara Mohawk Power Corp.                                | Niagara Mohawk Power Corp.                                                    | CUSIP: 653522DV1<br>LEI: 3T97Y9RR5EN5Y18QHB56 | Long             | DBT              | CORP              | US        |    162000 | PA      | $161959.63    | 0.11%             | 2055-07-03      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Asbury Automotive Group, Inc.                             | Asbury Automotive Group, Inc.                                                 | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47295.12     | 0.03%             | 2032-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3142GS4H8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2569824 | PA      | $2577557.16   | 1.81%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                  | COLT Mortgage Loan Trust, Series 2025-8, Class A1                             | CUSIP: 19689DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    610000 | PA      | $609392.87    | 0.43%             | 2070-08-25      | Variable      | 5.48%                 | Yes           |                  2 | On Loan: No      |
| BAT Capital Corp.                                         | BAT Capital Corp.                                                             | CUSIP: 054989AD0<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     47000 | PA      | $52403.44     | 0.04%             | 2053-08-02      | Fixed         | 7.08%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                           | Goldman Sachs Group, Inc. (The)                                               | CUSIP: 38141GA87<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    225000 | PA      | $233619.91    | 0.16%             | 2030-04-25      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| PepsiCo, Inc.                                             | PepsiCo, Inc.                                                                 | CUSIP: 713448GB8<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    668000 | PA      | $677535.78    | 0.47%             | 2030-02-07      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Pikes Peak CLO 6                                          | Pikes Peak CLO 6, Series 2020-6A, Class ARR                                   | CUSIP: 72132YAY1<br>LEI: 635400BKNXKWEO3G2J74 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $249937.75    | 0.18%             | 2034-05-18      | Floating      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                            | Carnival Corp.                                                                | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    326000 | PA      | $328207.02    | 0.23%             | 2032-08-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| McKesson Corp.                                            | McKesson Corp.                                                                | CUSIP: 581557BX2<br>LEI: 549300WZWOM80UCFSF54 | Long             | DBT              | CORP              | US        |    204000 | PA      | $205644.59    | 0.14%             | 2032-05-30      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Horizon Mutual Holdings, Inc.                             | Horizon Mutual Holdings, Inc.                                                 | CUSIP: 43990FAA6<br>LEI: 254900R6BWV4LUXBN549 | Long             | DBT              | CORP              | US        |    538000 | PA      | $522639.15    | 0.37%             | 2034-11-15      | Fixed         | 6.20%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 31427MSQ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     58374 | PA      | $58897.69     | 0.04%             | 2055-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust        | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2025-5C1, Class A2 | CUSIP: 61778GAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     58000 | PA      | $58307.49     | 0.04%             | 2058-03-15      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| TELUS Corp.                                               | TELUS Corp.                                                                   | CUSIP: 87971MCM3<br>LEI: L2TEUTQ8OSHMJWVLCE40 | Long             | DBT              | CORP              | CA        |    219000 | PA      | $221719.32    | 0.16%             | 2055-10-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Advance Auto Parts, Inc.                                  | Advance Auto Parts, Inc.                                                      | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |     64000 | PA      | $64325.70     | 0.05%             | 2030-08-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Exelon Corp.                                              | Exelon Corp.                                                                  | CUSIP: 30161NBN0<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |     61000 | PA      | $62504.09     | 0.04%             | 2034-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| McKesson Corp.                                            | McKesson Corp.                                                                | CUSIP: 581557BW4<br>LEI: 549300WZWOM80UCFSF54 | Long             | DBT              | CORP              | US        |    394000 | PA      | $396278.16    | 0.28%             | 2030-05-30      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                           | Goldman Sachs Group, Inc. (The)                                               | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    347000 | PA      | $354377.07    | 0.25%             | 2030-02-10      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| Advance Auto Parts, Inc.                                  | Advance Auto Parts, Inc.                                                      | CUSIP: 00751YAL0<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |     84000 | PA      | $84450.24     | 0.06%             | 2033-08-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Oracle Corp.                                              | Oracle Corp.                                                                  | CUSIP: 68389XCQ6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     53000 | PA      | $48965.44     | 0.03%             | 2053-02-06      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3132DWBP7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2849129 | PA      | $2242385.55   | 1.57%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3133AJL27<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    339170 | PA      | $270785.66    | 0.19%             | 2051-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fortress Credit Opportunities XXXI CLO Ltd.               | Fortress Credit Opportunities XXXI CLO Ltd., Series 2025-31A, Class A1        | CUSIP: 34990GAA3<br>LEI: 25490034R237Z9DZDO05 | Long             | ABS-CBDO         | CORP              | KY        |    150000 | PA      | $150320.10    | 0.11%             | 2033-07-20      | Floating      | 5.82%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3142GTTM8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1408516 | PA      | $1407690.12   | 0.99%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fiserv, Inc.                                              | Fiserv, Inc.                                                                  | CUSIP: 337738BE7<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |     81000 | PA      | $83257.27     | 0.06%             | 2033-03-02      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3132DWEG4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3750164 | PA      | $3214694.23   | 2.25%             | 2052-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GCAT Trust                                                | GCAT Trust, Series 2025-NQM2, Class A1                                        | CUSIP: 36171HAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    203971 | PA      | $204376.56    | 0.14%             | 2070-04-25      | Variable      | 5.60%                 | Yes           |                  2 | On Loan: No      |
| EnerSys                                                   | EnerSys                                                                       | CUSIP: 29275YAC6<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98229.03     | 0.07%             | 2027-12-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                         | HSBC Holdings plc                                                             | CUSIP: 404280FA2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    587000 | PA      | $598077.56    | 0.42%             | 2030-06-05      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| DB Master Finance LLC                                     | DB Master Finance LLC, Series 2021-1A, Class A2II                             | CUSIP: 233046AQ4<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |    343540 | PA      | $317497.95    | 0.22%             | 2051-11-20      | Fixed         | 2.49%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                            | Morgan Stanley                                                                | CUSIP: 61747YGA7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    179000 | PA      | $184617.55    | 0.13%             | 2036-04-17      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                           | CUSIP: 706451BG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    269000 | PA      | $239782.00    | 0.17%             | 2035-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                                  | COLT Mortgage Loan Trust, Series 2023-3, Class A2                             | CUSIP: 19688RAB5<br>LEI: 213800MIPEZY1A8W1N28 | Long             | ABS-MBS          | CORP              | US        |     65186 | PA      | $65956.64     | 0.05%             | 2068-09-25      | Variable      | 7.43%                 | Yes           |                  2 | On Loan: No      |
| Micron Technology, Inc.                                   | Micron Technology, Inc.                                                       | CUSIP: 595112CG6<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    222000 | PA      | $229484.41    | 0.16%             | 2032-11-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3140QF2E8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    109246 | PA      | $94515.26     | 0.07%             | 2050-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                  | U.S. Treasury Bonds                                                           | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    754300 | PA      | $765378.78    | 0.54%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Georgia-Pacific LLC                                       | Georgia-Pacific LLC                                                           | CUSIP: 37331NAR2<br>LEI: L2EVHWFHVAQK72TMH265 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27041.74     | 0.02%             | 2028-06-30      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                        | Venture Global Plaquemines LNG LLC                                            | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    134000 | PA      | $146926.57    | 0.10%             | 2035-05-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                              | BX Commercial Mortgage Trust, Series 2024-VLT5, Class A                       | CUSIP: 05614JAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    115000 | PA      | $115137.29    | 0.08%             | 2046-11-13      | Variable      | 5.41%                 | Yes           |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                              | Mizuho Financial Group, Inc.                                                  | CUSIP: 60687YDN6<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    587000 | PA      | $590598.31    | 0.41%             | 2031-07-08      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3140QTES4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    967379 | PA      | $983237.71    | 0.69%             | 2053-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FirstCash, Inc.                                           | FirstCash, Inc.                                                               | CUSIP: 33767DAD7<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    278000 | PA      | $284979.19    | 0.20%             | 2032-03-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                     | Bank of America Corp.                                                         | CUSIP: 06051GMK2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    556000 | PA      | $562902.58    | 0.39%             | 2029-01-24      | Variable      | 4.98%                 | No            |                  2 | On Loan: No      |
| Kite Realty Group LP                                      | Kite Realty Group LP                                                          | CUSIP: 49803XAE3<br>LEI: 549300X6R2GYI8Y3OD81 | Long             | DBT              | CORP              | US        |     19000 | PA      | $19364.24     | 0.01%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALA Trust                                                 | ALA Trust, Series 2025-OANA, Class B                                          | CUSIP: 009920AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    844000 | PA      | $848747.50    | 0.59%             | 2040-06-15      | Floating      | 6.18%                 | Yes           |                  2 | On Loan: No      |
| Americold Realty Operating Partnership LP                 | Americold Realty Operating Partnership LP                                     | CUSIP: 03063UAB7<br>LEI: 549300FKD9KVWNHSUU79 | Long             | DBT              | CORP              | US        |     83000 | PA      | $83073.11     | 0.06%             | 2032-05-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Co.                                     | Saudi Arabian Oil Co.                                                         | CUSIP: 80414L3F0<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | NUSS              | SA        |    200000 | PA      | $202839.80    | 0.14%             | 2055-06-02      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                       | U.S. Treasury 10 Year Ultra Note                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -47 | NC      | $-2088.05     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Exeter Automobile Receivables Trust                       | Exeter Automobile Receivables Trust, Series 2025-1A, Class C                  | CUSIP: 30167MAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    114000 | PA      | $114585.05    | 0.08%             | 2031-05-15      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                | AT&T, Inc.                                                                    | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    956000 | PA      | $640963.42    | 0.45%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                            | Enbridge, Inc.                                                                | CUSIP: 29250NCG8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    233000 | PA      | $242569.31    | 0.17%             | 2055-03-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                    | Truist Financial Corp.                                                        | CUSIP: 89788MAQ5<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     80000 | PA      | $86354.85     | 0.06%             | 2029-10-30      | Variable      | 7.16%                 | No            |                  2 | On Loan: No      |
| Global Partners LP                                        | Global Partners LP                                                            | CUSIP: 37954FAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $30307.62     | 0.02%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Intel Corp.                                               | Intel Corp.                                                                   | CUSIP: 458140CG3<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |     38000 | PA      | $37999.76     | 0.03%             | 2033-02-10      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                                | J.P. Morgan Mortgage Trust, Series 2025-NQM3, Class A1                        | CUSIP: 46659QAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    835000 | PA      | $833452.33    | 0.58%             | 2065-11-25      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Apollo Debt Solutions BDC                                 | Apollo Debt Solutions BDC                                                     | CUSIP: 03770DAG8<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |    107000 | PA      | $107127.84    | 0.08%             | 2030-08-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                  | U.S. Treasury Notes                                                           | CUSIP: 91282CNJ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    701400 | PA      | $695701.13    | 0.49%             | 2032-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                  | U.S. Treasury Notes                                                           | CUSIP: 91282CNK3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1919500 | PA      | $1912601.80   | 1.34%             | 2030-06-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Phillips Edison Grocery Center Operating Partnership I LP | Phillips Edison Grocery Center Operating Partnership I LP                     | CUSIP: 71845JAD0<br>LEI: 549300WUPIVS6ZE0ZI51 | Long             | DBT              | CORP              | US        |    105000 | PA      | $105608.91    | 0.07%             | 2032-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Global Partners LP                                        | Global Partners LP                                                            | CUSIP: 37954FAK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $68153.15     | 0.05%             | 2032-01-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Brixmor Operating Partnership LP                          | Brixmor Operating Partnership LP                                              | CUSIP: 11120VAN3<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              | CORP              | US        |    101000 | PA      | $102104.85    | 0.07%             | 2032-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                         | Enterprise Products Operating LLC                                             | CUSIP: 29379VCJ0<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    109000 | PA      | $108881.94    | 0.08%             | 2028-06-20      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| MILE Trust                                                | MILE Trust, Series 2025-STNE, Class B                                         | CUSIP: 59918AAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100031.18    | 0.07%             | 2042-07-15      | Floating      | 6.04%                 | Yes           |                  2 | On Loan: No      |
| CyrusOne Data Centers Issuer I LLC                        | CyrusOne Data Centers Issuer I LLC, Series 2025-1A, Class A2                  | CUSIP: 23284BAJ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     45000 | PA      | $45866.52     | 0.03%             | 2050-02-20      | Fixed         | 5.91%                 | Yes           |                  2 | On Loan: No      |
| AES Corp. (The)                                           | AES Corp. (The)                                                               | CUSIP: 00130HCL7<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48176.10     | 0.03%             | 2055-07-15      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                   | Hyundai Capital America                                                       | CUSIP: 44891ADU8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    214000 | PA      | $214686.58    | 0.15%             | 2027-06-23      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Dell International LLC                                    | Dell International LLC                                                        | CUSIP: 24703DBH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    196000 | PA      | $134040.52    | 0.09%             | 2051-12-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                 | HCA, Inc.                                                                     | CUSIP: 404119CH0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     87000 | PA      | $85052.28     | 0.06%             | 2027-03-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Rio Tinto Finance USA plc                                 | Rio Tinto Finance USA plc                                                     | CUSIP: 76720AAV8<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |    222000 | PA      | $222071.05    | 0.16%             | 2055-03-14      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Kite Realty Group LP                                      | Kite Realty Group LP                                                          | CUSIP: 49803XAF0<br>LEI: 549300X6R2GYI8Y3OD81 | Long             | DBT              | CORP              | US        |    114000 | PA      | $114049.32    | 0.08%             | 2031-12-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| American International Group, Inc.                        | American International Group, Inc.                                            | CUSIP: 026874DW4<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12158.05     | 0.01%             | 2030-05-07      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                      | Cross Mortgage Trust, Series 2025-H2, Class A2                                | CUSIP: 22758PAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     94987 | PA      | $94652.21     | 0.07%             | 2070-03-25      | Variable      | 5.46%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3132DN3Z4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    518283 | PA      | $512327.08    | 0.36%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RATE Mortgage Trust                                       | RATE Mortgage Trust, Series 2025-J2, Class A5                                 | CUSIP: 75409YAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    160395 | PA      | $160367.45    | 0.11%             | 2055-07-25      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| US Bancorp                                                | US Bancorp                                                                    | CUSIP: 91159HJN1<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     85000 | PA      | $89143.85     | 0.06%             | 2034-06-12      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                        | Southern Co. (The), Series 2025                                               | CUSIP: 842587EB9<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    128000 | PA      | $132443.15    | 0.09%             | 2055-03-15      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch Cos. LLC                                   | Anheuser-Busch Cos. LLC                                                       | CUSIP: 03522AAH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $193931.82    | 0.14%             | 2036-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                              | Mizuho Financial Group, Inc.                                                  | CUSIP: 60687YDL0<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    587000 | PA      | $585745.93    | 0.41%             | 2031-07-08      | Variable      | 4.71%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                  | Venture Global LNG, Inc.                                                      | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31059.41     | 0.02%             | 2028-06-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Romania                                                   | Romania Government Bond                                                       | CUSIP: 77586RAY6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    334000 | PA      | $335494.65    | 0.24%             | 2030-09-16      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                            | NCL Corp. Ltd.                                                                | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     55000 | PA      | $56491.63     | 0.04%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)                       | Bank of New York Mellon Corp. (The)                                           | CUSIP: 06406RCJ4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     55000 | PA      | $56051.20     | 0.04%             | 2036-06-06      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| Rogers Communications, Inc.                               | Rogers Communications, Inc., Series NC5                                       | CUSIP: 775109DG3<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    281000 | PA      | $287286.35    | 0.20%             | 2055-04-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Gulfstream Natural Gas System LLC                         | Gulfstream Natural Gas System LLC                                             | CUSIP: 402740AG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $201145.46    | 0.14%             | 2035-07-23      | Fixed         | 5.60%                 | Yes           |                  2 | On Loan: No      |
| Bain Capital Credit CLO Ltd.                              | Bain Capital Credit CLO Ltd., Series 2019-3A, Class ARR                       | CUSIP: 05683TBA6<br>LEI: 549300434Q955VK1W392 | Long             | ABS-CBDO         | CORP              | KY        |    710000 | PA      | $710659.59    | 0.50%             | 2034-10-21      | Floating      | 5.36%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                       | U.S. Treasury Ultra Bond                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        47 | NC      | $22434.06     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto Finance USA plc                                 | Rio Tinto Finance USA plc                                                     | CUSIP: 76720AAU0<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |    222000 | PA      | $225265.24    | 0.16%             | 2035-03-14      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                    | Cleveland-Cliffs, Inc.                                                        | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     82000 | PA      | $79999.99     | 0.06%             | 2032-03-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Kimco Realty OP LLC                                       | Kimco Realty OP LLC                                                           | CUSIP: 49447BAC7<br>LEI: 549300EA7I6T15IBYS12 | Long             | DBT              | CORP              | US        |    203000 | PA      | $203396.29    | 0.14%             | 2036-02-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3132DU3E5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    271916 | PA      | $267069.80    | 0.19%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CoreWeave, Inc.                                           | CoreWeave, Inc.                                                               | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    357000 | PA      | $358803.18    | 0.25%             | 2030-06-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Jersey Mike's Funding                                     | Jersey Mike's Funding, Series 2025-1A, Class A2                               | CUSIP: 476681AE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $603281.28    | 0.42%             | 2055-08-16      | Fixed         | 5.61%                 | Yes           |                  2 | On Loan: No      |
| MILE Trust                                                | MILE Trust, Series 2025-STNE, Class C                                         | CUSIP: 59918AAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100031.19    | 0.07%             | 2042-07-15      | Floating      | 6.44%                 | Yes           |                  2 | On Loan: No      |
| Republic of Trinidad & Tobago                             | Republic of Trinidad and Tobago                                               | CUSIP: 896292AM1<br>LEI: N/A                  | Long             | DBT              | NUSS              | TT        |    200000 | PA      | $193932.00    | 0.14%             | 2034-06-26      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| Fair Isaac Corp.                                          | Fair Isaac Corp.                                                              | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    361000 | PA      | $362695.10    | 0.25%             | 2033-05-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO 11 Ltd.                 | GoldenTree Loan Management US CLO 11 Ltd., Series 2021-11A, Class AR          | CUSIP: 38138KAL4<br>LEI: 549300TMEEKUOKVHYV65 | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $299863.50    | 0.21%             | 2034-10-20      | Floating      | 5.41%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                | UMBS                                                                          | CUSIP: 3132DQWP7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3092431 | PA      | $3021167.37   | 2.12%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3140QUZY5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    187531 | PA      | $190936.14    | 0.13%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                        | Dominican Republic Government Bond                                            | CUSIP: 25714PFB9<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    150000 | PA      | $153675.00    | 0.11%             | 2037-03-15      | Fixed         | 6.95%                 | Yes           |                  2 | On Loan: No      |
| Cousins Properties LP                                     | Cousins Properties LP                                                         | CUSIP: 222793AC5<br>LEI: 254900ZQIHJ5FQH4C329 | Long             | DBT              | CORP              | US        |    282000 | PA      | $286490.75    | 0.20%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                         | Rocket Cos., Inc.                                                             | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    145000 | PA      | $147023.11    | 0.10%             | 2030-08-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Hertz Vehicle Financing III LP                            | Hertz Vehicle Financing III LP, Series 2021-2A, Class A                       | CUSIP: 42806MAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $96424.33     | 0.07%             | 2027-12-27      | Fixed         | 1.68%                 | Yes           |                  2 | On Loan: No      |
| ERP Operating LP                                          | ERP Operating LP                                                              | CUSIP: 26884ABQ5<br>LEI: DX5HQV5MLU50FEWZ5072 | Long             | DBT              | CORP              | US        |    179000 | PA      | $180462.13    | 0.13%             | 2032-06-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Sherwin-Williams Co. (The)                                | Sherwin-Williams Co. (The)                                                    | CUSIP: 824348BU9<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    245000 | PA      | $244528.43    | 0.17%             | 2028-08-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                         | Wells Fargo & Co.                                                             | CUSIP: 95000U3V3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    179000 | PA      | $184361.71    | 0.13%             | 2036-04-23      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| VDCM Commercial Mortgage Trust                            | VDCM Commercial Mortgage Trust, Series 2025-AZ, Class A                       | CUSIP: 91825CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    995000 | PA      | $992491.41    | 0.70%             | 2044-07-13      | Variable      | 5.23%                 | Yes           |                  2 | On Loan: No      |
| Lockheed Martin Corp.                                     | Lockheed Martin Corp.                                                         | CUSIP: 539830CL1<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    111000 | PA      | $110623.02    | 0.08%             | 2030-08-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Truist Bank                                               | Truist Bank                                                                   | CUSIP: 89788JAG4<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |    369000 | PA      | $369630.25    | 0.26%             | 2028-07-24      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| RCKT Mortgage Trust                                       | RCKT Mortgage Trust, Series 2025-CES7, Class A1A                              | CUSIP: 74943AAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    395000 | PA      | $395711.12    | 0.28%             | 2055-07-25      | Variable      | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                         | Rocket Cos., Inc.                                                             | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    144000 | PA      | $146877.58    | 0.10%             | 2033-08-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Plains All American Pipeline LP                           | Plains All American Pipeline LP                                               | CUSIP: 72650RBQ4<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |    128000 | PA      | $131362.81    | 0.09%             | 2035-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                  | PNC Financial Services Group, Inc. (The)                                      | CUSIP: 693475CE3<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    132000 | PA      | $133367.88    | 0.09%             | 2036-07-21      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                     | FHLMC                                                                         | CUSIP: 3128MJYT1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    289733 | PA      | $255850.06    | 0.18%             | 2046-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Bills                                       | U.S. Treasury Bills                                                           | CUSIP: 912797QN0<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    648000 | PA      | $627314.82    | 0.44%             | 2026-05-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GE HealthCare Technologies, Inc.                          | GE HealthCare Technologies, Inc.                                              | CUSIP: 36266GAB3<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |     61000 | PA      | $61314.64     | 0.04%             | 2031-01-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Niagara Mohawk Power Corp.                                | Niagara Mohawk Power Corp.                                                    | CUSIP: 65364UAU0<br>LEI: 3T97Y9RR5EN5Y18QHB56 | Long             | DBT              | CORP              | US        |     68000 | PA      | $65165.19     | 0.05%             | 2054-01-17      | Fixed         | 5.66%                 | Yes           |                  2 | On Loan: No      |
| Crown Americas LLC                                        | Crown Americas LLC                                                            | CUSIP: 228180AC9<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |    365000 | PA      | $365678.17    | 0.26%             | 2033-06-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 31418ECR9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1440352 | PA      | $1234991.63   | 0.87%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| McKesson Corp.                                            | McKesson Corp.                                                                | CUSIP: 581557BY0<br>LEI: 549300WZWOM80UCFSF54 | Long             | DBT              | CORP              | US        |    142000 | PA      | $143616.58    | 0.10%             | 2035-05-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Navient Refinance Loan Trust                              | Navient Refinance Loan Trust, Series 2025-A, Class A                          | CUSIP: 63943FAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     93209 | PA      | $93754.06     | 0.07%             | 2055-02-16      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| Subway Funding LLC                                        | Subway Funding LLC, Series 2024-1A, Class A23                                 | CUSIP: 864300AE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     94288 | PA      | $95751.57     | 0.07%             | 2054-07-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands IV BV             | Teva Pharmaceutical Finance Netherlands IV BV                                 | CUSIP: 881937AA4<br>LEI: 549300GKSD1RG56QRY33 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $304376.10    | 0.21%             | 2030-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Atmos Energy Corp.                                        | Atmos Energy Corp.                                                            | CUSIP: 049560BC8<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | DBT              | CORP              | US        |    235000 | PA      | $236686.36    | 0.17%             | 2035-08-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CACI International, Inc.                                  | CACI International, Inc.                                                      | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |     53000 | PA      | $54194.67     | 0.04%             | 2033-06-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Lincoln Financial Global Funding                          | Lincoln Financial Global Funding                                              | CUSIP: 53359KAB7<br>LEI: 984500OC010458395923 | Long             | DBT              | CORP              | US        |    155000 | PA      | $155311.89    | 0.11%             | 2028-05-28      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| JH North America Holdings, Inc.                           | JH North America Holdings, Inc.                                               | CUSIP: 46593WAA3<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |    149000 | PA      | $149510.18    | 0.10%             | 2031-01-31      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Siemens Funding BV                                        | Siemens Funding BV                                                            | CUSIP: 82622RAD8<br>LEI: 213800CCRGH2TO338X64 | Long             | DBT              | CORP              | NL        |    587000 | PA      | $596760.42    | 0.42%             | 2032-05-28      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                           | Citigroup, Inc.                                                               | CUSIP: 172967PU9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    103000 | PA      | $105557.69    | 0.07%             | 2036-01-24      | Variable      | 6.02%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                         | Wells Fargo & Co.                                                             | CUSIP: 95000U3D3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    261000 | PA      | $267044.14    | 0.19%             | 2034-04-24      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| VDCM Commercial Mortgage Trust                            | VDCM Commercial Mortgage Trust, Series 2025-AZ, Class C                       | CUSIP: 91825CAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $201178.46    | 0.14%             | 2044-07-13      | Variable      | 6.03%                 | Yes           |                  2 | On Loan: No      |
| IP Mortgage Trust                                         | IP Mortgage Trust, Series 2025-IP, Class A                                    | CUSIP: 449843AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    843000 | PA      | $848986.14    | 0.60%             | 2042-06-10      | Variable      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Global Atlantic Fin Co.                                   | Global Atlantic Fin Co.                                                       | CUSIP: 37959GAG2<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |    208000 | PA      | $217361.04    | 0.15%             | 2054-10-15      | Variable      | 7.95%                 | Yes           |                  2 | On Loan: No      |
| Steel Dynamics, Inc.                                      | Steel Dynamics, Inc.                                                          | CUSIP: 858119BT6<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |     51000 | PA      | $49636.34     | 0.03%             | 2055-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                        | LPL Holdings, Inc.                                                            | CUSIP: 50212YAP9<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    538000 | PA      | $544177.24    | 0.38%             | 2030-06-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3140XPM30<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    332007 | PA      | $272435.75    | 0.19%             | 2054-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                                | Corebridge Financial, Inc.                                                    | CUSIP: 21871XAM1<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |     74000 | PA      | $59229.82     | 0.04%             | 2052-04-05      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman Loan Advisers CLO 38 Ltd.                | Neuberger Berman Loan Advisers CLO 38 Ltd., Series 2020-38A, Class AR2        | CUSIP: 64133RAU0<br>LEI: 549300SM4FYZ8US63U33 | Long             | ABS-CBDO         | CORP              | KY        |    710000 | PA      | $709991.48    | 0.50%             | 2036-10-20      | Floating      | 5.29%                 | Yes           |                  2 | On Loan: No      |
| New York State Electric & Gas Corp.                       | New York State Electric & Gas Corp.                                           | CUSIP: 649840CV5<br>LEI: 549300GEC6J0YHUXA160 | Long             | DBT              | CORP              | US        |    124000 | PA      | $130046.63    | 0.09%             | 2033-08-15      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                           | CUSIP: 71654QDL3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    162000 | PA      | $170724.83    | 0.12%             | 2029-06-02      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 3140XQRF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    377580 | PA      | $379653.93    | 0.27%             | 2054-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                  | Angel Oak Mortgage Trust, Series 2024-2, Class A1                             | CUSIP: 034942AA0<br>LEI: 254900NLG610771ZLP05 | Long             | ABS-MBS          | CORP              | US        |    760415 | PA      | $762405.21    | 0.53%             | 2069-01-25      | Variable      | 5.99%                 | Yes           |                  2 | On Loan: No      |
| Kioxia Holdings Corp.                                     | Kioxia Holdings Corp.                                                         | CUSIP: 49726JAB4<br>LEI: 35380080RTKRARNH4R73 | Long             | DBT              | CORP              | JP        |     53000 | PA      | $52444.72     | 0.04%             | 2033-07-24      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Brandywine Operating Partnership LP                       | Brandywine Operating Partnership LP                                           | CUSIP: 105340AS2<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              | CORP              | US        |    134000 | PA      | $143680.32    | 0.10%             | 2029-04-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                                 | Williams Cos., Inc. (The)                                                     | CUSIP: 969457CQ1<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    668000 | PA      | $667019.10    | 0.47%             | 2055-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Public Service Enterprise Group, Inc.                     | Public Service Enterprise Group, Inc.                                         | CUSIP: 744573AZ9<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |    155000 | PA      | $158189.38    | 0.11%             | 2034-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Merchants Fleet Funding LLC                               | Merchants Fleet Funding LLC, Series 2024-1A, Class D                          | CUSIP: 588926AJ4<br>LEI: 254900Z2OOQUA5IN2X83 | Long             | ABS-O            | CORP              | US        |    176000 | PA      | $177544.01    | 0.12%             | 2037-04-20      | Fixed         | 6.85%                 | Yes           |                  2 | On Loan: No      |
| Tecpetrol SA                                              | Tecpetrol SA                                                                  | CUSIP: 87876TAG9<br>LEI: 529900C0GOV3UC7ZMZ16 | Long             | DBT              | CORP              | AR        |     70000 | PA      | $71939.00     | 0.05%             | 2033-01-22      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| American Express Co.                                      | American Express Co.                                                          | CUSIP: 025816EK1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    178000 | PA      | $178573.57    | 0.13%             | 2033-07-20      | Variable      | 4.92%                 | No            |                  2 | On Loan: No      |
| PepsiCo, Inc.                                             | PepsiCo, Inc.                                                                 | CUSIP: 713448GK8<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    264000 | PA      | $264537.04    | 0.19%             | 2035-07-23      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Symphony CLO XXIII Ltd.                                   | Symphony CLO XXIII Ltd., Series 2020-23A, Class AR2                           | CUSIP: 87167NDL6<br>LEI: 54930001DQI1CFLYVB48 | Long             | ABS-CBDO         | CORP              | KY        |    315279 | PA      | $314931.67    | 0.22%             | 2034-01-15      | Floating      | 5.22%                 | Yes           |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                         | Enterprise Products Operating LLC                                             | CUSIP: 29379VCL5<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    113000 | PA      | $113192.39    | 0.08%             | 2036-01-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Micron Technology, Inc.                                   | Micron Technology, Inc.                                                       | CUSIP: 595112BS1<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    476000 | PA      | $412736.68    | 0.29%             | 2032-04-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Huntington Bank Auto Credit-Linked Notes                  | Huntington Bank Auto Credit-Linked Notes, Series 2024-2, Class B1             | CUSIP: 44644NAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    175989 | PA      | $177119.38    | 0.12%             | 2032-10-20      | Fixed         | 5.44%                 | Yes           |                  2 | On Loan: No      |
| Cross Mortgage Trust                                      | Cross Mortgage Trust, Series 2024-H8, Class A1                                | CUSIP: 22757GAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    251153 | PA      | $251394.18    | 0.18%             | 2069-12-25      | Variable      | 5.55%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                           | TransDigm, Inc.                                                               | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    365000 | PA      | $367318.48    | 0.26%             | 2033-05-31      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Omega Healthcare Investors, Inc.                          | Omega Healthcare Investors, Inc.                                              | CUSIP: 681936BH2<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79939.58     | 0.06%             | 2026-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Boots Group Finco LP                                      | Boots Group Finco LP, Series 144*                                             | CUSIP: N/A<br>LEI: 254900YVLYOVF1PF1N93       | Long             | DBT              | CORP              | US        |    100000 | PA      | $134541.22    | 0.09%             | 2032-08-31      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Mars, Inc.                                                | Mars, Inc.                                                                    | CUSIP: 571676BC8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    222000 | PA      | $219057.28    | 0.15%             | 2055-05-01      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| Western Midstream Operating LP                            | Western Midstream Operating LP                                                | CUSIP: 958254AJ3<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    668000 | PA      | $561509.95    | 0.39%             | 2048-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| FNMA                                                      | UMBS                                                                          | CUSIP: 31418EBS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1467973 | PA      | $1206761.53   | 0.85%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-02

**Name of Applicant:** Nationwide Mutual Funds

**Signature:** David Majewski

**Name of Signer:** David Majewski

**Title:** Treasurer