# EDGAR Filing Document

**Accession Number:** 0001668512
**File Stem:** 0001752724-25-189584
**Filing Date:** 2025-8
**Character Count:** 159304
**Document Hash:** 5b2c30ddc9c0e7fe2a74d8bef680baf8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-189584.hdr.sgml**: 20250815

**ACCESSION NUMBER**: 0001752724-25-189584

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250815

**DATE AS OF CHANGE**: 20250815

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Guardian Variable Products Trust
- **CENTRAL INDEX KEY:** 0001668512

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23148
- **FILM NUMBER:** 251223286

**BUSINESS ADDRESS:**
- **STREET 1:** 10 HUDSON YARDS, 22 FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001
- **BUSINESS PHONE:** (212)598-8000

**MAIL ADDRESS:**
- **STREET 1:** 10 HUDSON YARDS, 22 FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001

## Series and Classes Contracts Data

### Guardian Multi-Sector Bond VIP Fund (Series ID: S000061841)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000200219 | Guardian Multi-Sector Bond VIP Fund |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Guardian Variable Products Trust

- **b. Investment Company Act file number:** 811-23148

- **c. CIK number of Registrant:** 0001668512

- **d. LEI of Registrant:** 549300S9PVDT6IL3OT03

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

  - **Street Address 1:** 10 Hudson Yards

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10001

  - **Telephone number:** 212-598-8000

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

- **a. Name of Series:** Guardian Multi-Sector Bond VIP Fund

- **b. EDGAR series identifier (if any):** S000061841

- **c. LEI of Series:** 5493001IFMJ4Z28G9Z92

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $187913806.68

**Total Liabilities:** $20145701.49

**Net Assets:** $167768105.19

**Delayed Delivery Securities:** $12048693.42

**Cash Not Reported:** $332231.30

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -155.20000000 | **1-Year:** -3312.30000000 | **5-Year:** -12477.10000000 | **10-Year:** -11181.67000000 | **30-Year:** -1543.38000000

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

- **3-Month:** -328.15000000 | **1-Year:** -5859.40000000 | **5-Year:** -15421.63000000 | **10-Year:** -5161.51000000 | **30-Year:** -478.97000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000200219 | 0.10%                | 0.71%                | 1.52%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-164594.75              | $-1131749.00                               |
| Month 2  | $-405558.02              | $1539917.61                                |
| Month 3  | $65821.12                | $1491363.67                                |

**Designated Index Information**

- **Index Name:** Barclays US Aggregate

- **Index Identifier:** LBUSTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| JANE STREET GRP/JSG FIN                                 | Jane Street Group / JSG Finance Inc                                             | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    331000 | PA      | $341158.39    | 0.20%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Securities Services                         | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: 549300WCGB70D06XZS54 | N/A              | DFE              |  | XX        |         1 | NC      | $648.05       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                | BX Commercial Mortgage Trust 2024-AIR2                                          | CUSIP: 05613QAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    502610 | PA      | $504373.62    | 0.30%             | 2041-10-15      | Floating      | 7.10%                 | No            |                  2 | On Loan: No      |
| COLOSSUS ACQUIRECO LLC                                  | COLOSSUS ACQUIRECO LLC TERM LOAN B                                              | CUSIP: 000000000<br>LEI: 2549009FT92RXWA46910 | Long             | LON              | CORP              | US        |    552000 | PA      | $547998.00    | 0.33%             | 2032-06-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                     | Citigroup Commercial Mortgage Trust 2016-C3                                     | CUSIP: 17325GAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $969348.89    | 0.58%             | 2049-11-15      | Variable      | 3.37%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                   | AMERICAN AIRLINES INC 2025 TERM LOAN B                                          | CUSIP: 02376CBT1<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |     92000 | PA      | $92506.00     | 0.06%             | 2032-05-28      | Floating      | 7.56%                 | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC                                     | Lightning Power LLC                                                             | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |    441000 | PA      | $464139.27    | 0.28%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Ondeck Asset Securitization Trust LLC                   | OnDeck Asset Securitization IV LLC                                              | CUSIP: 68237DAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $248373.00    | 0.15%             | 2032-04-19      | Fixed         | 6.64%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP                                       | Clarios Global LP 2025 USD Term Loan B                                          | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    430000 | PA      | $430270.90    | 0.26%             | 2032-01-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW HOME CO INC/THE                                     | New Home Co Inc/The                                                             | CUSIP: 645370AG2<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |    331000 | PA      | $337547.18    | 0.20%             | 2030-11-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                | BX Trust 2022-FOX2                                                              | CUSIP: 05610AAW8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1023494 | PA      | $1022214.73   | 0.61%             | 2039-04-15      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F032674<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2271000 | PA      | $2044683.50   | 1.22%             | 2054-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MAREX GROUP PLC                                         | Marex Group PLC                                                                 | CUSIP: 566539AA0<br>LEI: 549300DWX0SVICJAL507 | Long             | DBT              | CORP              | GB        |    281000 | PA      | $289171.48    | 0.17%             | 2029-11-04      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| ARETEC GROUP INC                                        | Aretec Group Inc                                                                | CUSIP: 04020JAA4<br>LEI: 549300NV2T8A33L0PQ58 | Long             | DBT              | CORP              | US        |    135000 | PA      | $148319.10    | 0.09%             | 2030-08-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CHAMP ACQUISITION CORP                                  | Champ Acquisition Corp                                                          | CUSIP: 15807XAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    366000 | PA      | $390251.16    | 0.23%             | 2031-12-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                                | Blue Racer Midstream LLC / Blue Racer Finance Corp                              | CUSIP: 095796AK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     92000 | PA      | $97497.92     | 0.06%             | 2032-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /                                | Albion Financing 1 SARL / Aggreko Holdings Inc                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    160000 | PA      | $192577.03    | 0.11%             | 2030-05-21      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FIRST STUDENT BIDCO INC                                 | First Student Bidco Inc 2024 Term Loan B2                                       | CUSIP: 33718FAL4<br>LEI: 2549006DRO2F06AA1391 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2028-07-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                     | American Express Co                                                             | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    190000 | PA      | $185730.70    | 0.11%             | 2026-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization Trust                      | Tricolor Auto Securitization Trust 2025-1                                       | CUSIP: 89617CAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    906000 | PA      | $922188.41    | 0.55%             | 2029-10-15      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                                   | Athene Global Funding                                                           | CUSIP: 04685A3E9<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    158000 | PA      | $136867.50    | 0.08%             | 2031-10-04      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| BARENTZ INTERNATIONAL BV                                | Barentz International BV 2025 USD Term Loan B                                   | CUSIP: 000000000<br>LEI: 213800GN25HEJ4PXGN52 | Long             | LON              | CORP              | US        |    648375 | PA      | $645943.59    | 0.39%             | 2031-03-03      | Floating      | 7.65%                 | No            |                  2 | On Loan: No      |
| Gloves Buyer Inc                                        | Gloves Buyer Inc 2025 Term Loan                                                 | CUSIP: 37987UAG7<br>LEI: 54930015O0Y94T5H8Z18 | Long             | LON              | CORP              | US        |    650000 | PA      | $636187.50    | 0.38%             | 2032-01-17      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| SPA HOLDINGS 3 OY                                       | SPA HOLDINGS 3 OY 2025 USD TERM LOAN B                                          | CUSIP: 000000000<br>LEI: 743700UEY0YM039XN974 | Long             | LON              | CORP              | FI        |    362061 | PA      | $360703.34    | 0.22%             | 2030-05-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                            | CUSIP: 983133AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    394000 | PA      | $396600.40    | 0.24%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CROWDSTRIKE HOLDINGS INC                                | Crowdstrike Holdings Inc                                                        | CUSIP: 22788CAA3<br>LEI: 549300YBY08K9KM4HX32 | Long             | DBT              | CORP              | US        |    219000 | PA      | $206810.46    | 0.12%             | 2029-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                 | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                    | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    532000 | PA      | $522376.12    | 0.31%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                  | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RBR7<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    137000 | PA      | $137469.91    | 0.08%             | 2034-04-26      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                                       | General Motors Co                                                               | CUSIP: 37045VBB5<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205750.00    | 0.12%             | 2035-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Six Flags Entertainment Corporation                     | Six Flags Entertainment Corporation 2024 Term Loan B                            | CUSIP: 15018LAN1<br>LEI: 529900AS2CYWYFHRS781 | Long             | LON              | CORP              | US        |    148333 | PA      | $148333.33    | 0.09%             | 2031-05-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                     | Freddie Mac STACR REMIC Trust 2022-DNA2                                         | CUSIP: 35564KRN1<br>LEI: 5493000ISA3AUOXQEF68 | Long             | ABS-MBS          | USGSE             | US        |   1280000 | PA      | $1330104.33   | 0.79%             | 2042-02-25      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| RITHM CAPITAL CORP                                      | Rithm Capital Corp                                                              | CUSIP: 64828TAB8<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              |  | US        |    343000 | PA      | $346515.75    | 0.21%             | 2029-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                  | UnitedHealth Group Inc                                                          | CUSIP: 91324PFQ0<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     72000 | PA      | $73454.40     | 0.04%             | 2035-06-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| HRT DNT / HRT DNT FIN                                   | Heartland Dental LLC / Heartland Dental Finance Corp                            | CUSIP: 42239PAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    664000 | PA      | $701403.12    | 0.42%             | 2028-04-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| ALASKA AIRLINES 2020 TR                                 | Alaska Airlines 2020-1 Class A Pass Through Trust                               | CUSIP: 01166VAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    119742 | PA      | $119507.06    | 0.07%             | 2027-08-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F062671<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    100000 | PA      | $103233.00    | 0.06%             | 2054-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                           | Citigroup Inc                                                                   | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    187000 | PA      | $184563.39    | 0.11%             | 2026-02-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                | Olympus Water US Holding Corp                                                   | CUSIP: 000000000<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    148000 | PA      | $159359.43    | 0.09%             | 2029-10-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PSEG POWER LLC                                          | PSEG Power LLC                                                                  | CUSIP: 69362BBD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    285000 | PA      | $291004.95    | 0.17%             | 2030-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC                                      | Voyager Parent LLC                                                              | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |    347000 | PA      | $361664.22    | 0.22%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| FORVIA SE                                               | Forvia SE                                                                       | CUSIP: 31209DAA3<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |    465000 | PA      | $476797.05    | 0.28%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| House of HR Group BV                                    | House of HR Group BV 2024 EUR Term Loan B                                       | CUSIP: 000000000<br>LEI: 724500AWBTX8I880X774 | Long             | LON              | CORP              | NL        |    500000 | PA      | $558643.10    | 0.33%             | 2029-11-03      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| CITADEL SECURITIES GLOBA                                | Citadel Securities Global Holdings LLC                                          | CUSIP: 17289RAB2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | DBT              | CORP              | US        |    250000 | PA      | $256662.50    | 0.15%             | 2035-06-18      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    141000 | PA      | $119187.30    | 0.07%             | 2063-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                            | NiSource Inc                                                                    | CUSIP: 65473PAT2<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    294000 | PA      | $296031.54    | 0.18%             | 2055-03-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BEACON MOBILITY CORP                                    | Beacon Mobility Corp                                                            | CUSIP: 073644AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    171000 | PA      | $174825.27    | 0.10%             | 2030-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                 | Starwood Property Trust Inc                                                     | CUSIP: 85571BBE4<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |    342000 | PA      | $353121.84    | 0.21%             | 2030-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LV Trust                                                | Fashion Show Mall LLC                                                           | CUSIP: 50245XAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1115159.23   | 0.66%             | 2041-10-10      | Variable      | 5.83%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                | First Quantum Minerals Ltd                                                      | CUSIP: 335934AV7<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $212382.00    | 0.13%             | 2029-03-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                | BX Commercial Mortgage Trust 2024-BIO2                                          | CUSIP: 05613GAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    780000 | PA      | $777183.66    | 0.46%             | 2041-08-13      | Variable      | 7.97%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                          | Rocket Cos Inc                                                                  | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    152000 | PA      | $155003.52    | 0.09%             | 2030-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| MOHEGAN TRIBAL / MS DIG                                 | Mohegan Tribal Gaming Authority / MS Digital Entertainment Holdings LLC         | CUSIP: 60832QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    455000 | PA      | $469487.20    | 0.28%             | 2030-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MCGRAW-HILL EDUCATION                                   | McGraw-Hill Education Inc                                                       | CUSIP: 57767XAB6<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |    115000 | PA      | $116995.25    | 0.07%             | 2029-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Reach Financial LLC                                     | LL ABS Trust 2022-2                                                             | CUSIP: 75526GAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1769000 | PA      | $1786072.25   | 1.06%             | 2030-05-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Securities Services                         | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: 549300WCGB70D06XZS54 | N/A              | DFE              |  | US        |         1 | NC      | $-6513.06     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust 2019-OC11                                      | BX Trust 2019-OC11                                                              | CUSIP: 05606FAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $932123.77    | 0.56%             | 2041-12-09      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| ALA Trust                                               | ALA Trust 2025-OANA                                                             | CUSIP: 009920AG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    221000 | PA      | $221219.45    | 0.13%             | 2040-06-15      | Floating      | 7.39%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                       | PRPM 2025-2 LLC                                                                 | CUSIP: 69382HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    862723 | PA      | $869779.91    | 0.52%             | 2030-05-25      | Variable      | 6.47%                 | No            |                  2 | On Loan: No      |
| Homeward Opportunities Fund I Trust                     | Homeward Opportunities Fund Trust 2025-RRTL1                                    | CUSIP: 437919AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1850000 | PA      | $1842030.20   | 1.10%             | 2040-03-25      | Variable      | 5.48%                 | No            |                  2 | On Loan: No      |
| CURRENTA GROUP HOLDINGS                                 | Currenta Group Holdings Sarl                                                    | CUSIP: 000000000<br>LEI: 222100SF79KCJKYUPE47 | Long             | DBT              | CORP              | LU        |    270000 | PA      | $320880.47    | 0.19%             | 2032-05-15      | Floating      | 6.14%                 | No            |                  2 | On Loan: No      |
| AXIS Equipment Finance Receivables LLC                  | Amur Equipment Finance Receivables XV LLC                                       | CUSIP: 03237FAE5<br>LEI: 254900UXD59DZRJ7U848 | Long             | ABS-O            | CORP              | US        |    346000 | PA      | $350609.74    | 0.21%             | 2032-08-20      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                   | Level 3 Financing Inc                                                           | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    226859 | PA      | $231139.83    | 0.14%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                            | Navient Corp                                                                    | CUSIP: 63938CAL2<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    190000 | PA      | $187178.50    | 0.11%             | 2028-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SOLVENTUM CORP                                          | Solventum Corp                                                                  | CUSIP: 83444MAR2<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    265000 | PA      | $272669.10    | 0.16%             | 2034-03-23      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Securities Services                         | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: 549300WCGB70D06XZS54 | N/A              | DFE              |  | US        |         1 | NC      | $-9502.25     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                     | Freddie Mac STACR REMIC Trust 2025-DNA1                                         | CUSIP: 35564NGA5<br>LEI: 529900WZAMS87JCAOC53 | Long             | ABS-MBS          | USGSE             | US        |   1284000 | PA      | $1282495.76   | 0.76%             | 2045-01-25      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| Great Wolf Trust                                        | GWT 2024-WLF2                                                                   | CUSIP: 362414AG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1120000 | PA      | $1122599.08   | 0.67%             | 2041-05-15      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| HERBALIFE LTD                                           | Herbalife Ltd                                                                   | CUSIP: 42703MAF0<br>LEI: 549300BA7TYPBSZZIA41 | Long             | DBT              | CORP              | KY        |    275000 | PA      | $250750.50    | 0.15%             | 2028-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies                        | Carlyle US CLO 2021-7 LTD                                                       | CUSIP: 14316WAU3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500813.50    | 0.30%             | 2040-04-15      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F030678<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1768000 | PA      | $1529344.75   | 0.91%             | 2054-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                                 | GLP Capital LP / GLP Financing II Inc                                           | CUSIP: 361841AQ2<br>LEI: N/A                  | Long             | DBT              |  | US        |    217000 | PA      | $204667.89    | 0.12%             | 2031-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARCLINE FM HOLDINGS LLC                                 | Arcline FM Holdings LLC 2025 Term Loan                                          | CUSIP: 03960DAH6<br>LEI: 2549000HKCEC1E8UTO17 | Long             | LON              | CORP              | US        |    162916 | PA      | $163555.92    | 0.10%             | 2030-06-24      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                                         | OHA Credit Funding 3 LTD                                                        | CUSIP: 67112RBJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002137.00   | 0.60%             | 2038-01-20      | Floating      | 6.02%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F022675<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     83000 | PA      | $68827.34     | 0.04%             | 2055-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                 | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                    | CUSIP: 87470LAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    247000 | PA      | $240921.33    | 0.14%             | 2031-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F052672<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2918000 | PA      | $2917880.36   | 1.74%             | 2054-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| II-VI Incorporated                                      | II-VI Inc 2024 1st Lien Term Loan B                                             | CUSIP: 45173JAS3<br>LEI: 549300O5C25A0MMHHU33 | Long             | LON              | CORP              | US        |    634900 | PA      | $635166.94    | 0.38%             | 2029-07-02      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| Dermatology Intermediate Holdings III Inc               | Dermatology Intermediate Holdings III Inc 2022 Term Loan B                      | CUSIP: 24982LAB1<br>LEI: 254900GUIR9SP64DNR96 | Long             | LON              | CORP              | US        |    378051 | PA      | $341822.63    | 0.20%             | 2029-03-30      | Floating      | 8.53%                 | No            |                  2 | On Loan: No      |
| STONEX ESCROW ISSUER LLC                                | Stonex Escrow Issuer LLC                                                        | CUSIP: 86189AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    388000 | PA      | $392326.20    | 0.23%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GATEGROUP FIN LUXEMBOURG SA                             | GATEGROUP FIN LUXEMBOURG SA USD TERM LOAN B                                     | CUSIP: 000000000<br>LEI: 529900Q1OR7LI4GOGW68 | Long             | LON              | CORP              | US        |    138000 | PA      | $138259.44    | 0.08%             | 2032-05-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 36 Ltd                                      | Elmwood CLO 36 Ltd                                                              | CUSIP: 29004MAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1300000 | PA      | $1302663.70   | 0.78%             | 2037-10-20      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                          | NRG Energy Inc                                                                  | CUSIP: 629377CT7<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    266000 | PA      | $291916.38    | 0.17%             | 2033-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                                 | American Electric Power Co Inc                                                  | CUSIP: 025537AU5<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    391000 | PA      | $375027.65    | 0.22%             | 2062-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                                        | DT Midstream Inc                                                                | CUSIP: 23345MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $111147.50    | 0.07%             | 2029-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| HASBRO INC                                              | Hasbro Inc                                                                      | CUSIP: 418056BA4<br>LEI: 549300NUB6D2R1ITYR45 | Long             | DBT              | CORP              | US        |    420000 | PA      | $433104.00    | 0.26%             | 2034-05-14      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| TWITTER INC                                             | Twitter Inc Term Loan                                                           | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    368112 | PA      | $359255.46    | 0.21%             | 2029-10-26      | Floating      | 10.93%                | No            |                  2 | On Loan: No      |
| BROADSTREET PARTNERS INC                                | BroadStreet Partners Inc                                                        | CUSIP: 11135RAA3<br>LEI: 549300BS9N54G8DD0R75 | Long             | DBT              | CORP              | US        |    357000 | PA      | $352862.37    | 0.21%             | 2029-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AGL CLO 14, LTD.                                        | AGL CLO 14 Ltd                                                                  | CUSIP: 00851WAS8<br>LEI: 254900G6P36ERQHAIS15 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $499097.50    | 0.30%             | 2034-12-02      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD GRP/CO                                | JBS USA Holding Lux Sarl / JBS USA Foods Group Holdings Inc / JBS USA Food Co   | CUSIP: 472140AE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    406000 | PA      | $406885.08    | 0.24%             | 2036-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                  | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BU8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     77000 | PA      | $86046.73     | 0.05%             | 2034-10-20      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HLF FIN SARL LLC/HERBALI                                | HLF Financing Sarl LLC / Herbalife International Inc                            | CUSIP: 40390DAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    169000 | PA      | $184994.16    | 0.11%             | 2029-04-15      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                                      | Regal Rexnord Corp                                                              | CUSIP: 758750AP8<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    324000 | PA      | $342299.52    | 0.20%             | 2033-04-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                          | Carvana Auto Receivables Trust 2021-N3                                          | CUSIP: 14687GAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1330227 | PA      | $1297098.36   | 0.77%             | 2028-06-12      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                                    | Alpha Generation LLC                                                            | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |    219000 | PA      | $225964.20    | 0.13%             | 2032-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Celanese Corp                                           | Celanese Corp                                                                   | CUSIP: 150870103<br>LEI: 549300FHJQTDPPN41627 | Long             | EC               | CORP              | US        |      2527 | NS      | $139818.91    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ALGONQUIN PWR & UTILITY                                 | Algonquin Power & Utilities Corp                                                | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |    287000 | PA      | $278935.30    | 0.17%             | 2082-01-18      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBE2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    311000 | PA      | $163408.73    | 0.10%             | 2052-03-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                        | LPL Holdings Inc                                                                | CUSIP: 50212YAQ7<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    222000 | PA      | $224495.28    | 0.13%             | 2035-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                                          | ACHV ABS TRUST 2023-1PL                                                         | CUSIP: 00091XAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    768411 | PA      | $778523.29    | 0.46%             | 2030-03-18      | Fixed         | 8.47%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                | Olympus Water US Holding Corp                                                   | CUSIP: 681639AD2<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    361000 | PA      | $368324.69    | 0.22%             | 2031-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MOLEX ELECTRONICS TECH                                  | Molex Electronic Technologies LLC                                               | CUSIP: 60856BAF1<br>LEI: 549300WTBVUFUPSIWI20 | Long             | DBT              | CORP              | US        |    146000 | PA      | $148109.70    | 0.09%             | 2032-04-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| First Help Financial LLC                                | FHF Issuer Trust 2025-1                                                         | CUSIP: 30340RAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    741000 | PA      | $750439.60    | 0.45%             | 2031-08-15      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                         | CVS Health Corp                                                                 | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    236000 | PA      | $243910.72    | 0.15%             | 2055-03-10      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                            | GS Mortgage Securities Corp Trust 2025-800D                                     | CUSIP: 36273XAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    760000 | PA      | $758689.76    | 0.45%             | 2041-11-25      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                | AOMT 2024-6                                                                     | CUSIP: 034944AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    640328 | PA      | $631168.26    | 0.38%             | 2067-11-25      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| Churchill Downs Inc                                     | Churchill Downs Inc                                                             | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Long             | EC               | CORP              | US        |      1550 | NS      | $156550.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT HOLDINGS LLC                                        | ITT Holdings LLC                                                                | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    454000 | PA      | $431908.36    | 0.26%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Foundation Building Materials Holding Company LLC       | Foundation Building Materials Holding Company LLC 2025 Term Loan                | CUSIP: 35039KAE6<br>LEI: 549300ZVE6MONHB01I28 | Long             | LON              | CORP              | US        |     64000 | PA      | $63000.32     | 0.04%             | 2031-01-29      | Floating      | 9.55%                 | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                                   | QXO Building Products Inc                                                       | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    258000 | PA      | $266366.94    | 0.16%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                   | Wells Fargo Commercial Mortgage Trust 2025-VTT                                  | CUSIP: 94990GAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    735000 | PA      | $738675.44    | 0.44%             | 2038-03-15      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| CAPSTONE COPPER CORP                                    | Capstone Copper Corp                                                            | CUSIP: 14071LAA6<br>LEI: 549300III6KGKKC42W63 | Long             | DBT              | CORP              | CA        |    456000 | PA      | $466975.92    | 0.28%             | 2033-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                        | Duke Energy Corp                                                                | CUSIP: 26441CCG8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    181000 | PA      | $186784.76    | 0.11%             | 2054-09-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Securities Services                         | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: 549300WCGB70D06XZS54 | N/A              | DFE              |  | US        |         1 | NC      | $-5080.45     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME                                  | Blue Owl Credit Income Corp                                                     | CUSIP: 09581CAD3<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    408000 | PA      | $409187.28    | 0.24%             | 2030-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Zuora Inc                                               | Zuora Inc Term Loan B                                                           | CUSIP: 98980XAC9<br>LEI: 2549000JOLSFPTJEAV21 | Long             | LON              | CORP              | US        |    640000 | PA      | $636531.20    | 0.38%             | 2032-02-14      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                            | Hilton Grand Vacations Trust 2025-1                                             | CUSIP: 43283CAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    429000 | PA      | $432157.50    | 0.26%             | 2042-05-27      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| Empower CLO Ltd.                                        | Empower CLO 2022-1 Ltd                                                          | CUSIP: 29246AAU4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000718.00   | 0.60%             | 2037-10-20      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                             | RAD CLO 27 Ltd                                                                  | CUSIP: 749972AJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $995800.00    | 0.59%             | 2038-01-15      | Floating      | 7.09%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F042673<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1239000 | PA      | $1185044.03   | 0.71%             | 2054-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                           | CoreWeave Inc                                                                   | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    501000 | PA      | $512212.38    | 0.31%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| NEW FLYER HOLDINGS                                      | New Flyer Holdings Inc                                                          | CUSIP: 64438WAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     84000 | PA      | $88774.56     | 0.05%             | 2030-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F040677<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    690000 | PA      | $641617.20    | 0.38%             | 2054-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                               | IQVIA Inc                                                                       | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    402000 | PA      | $413388.66    | 0.25%             | 2032-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                              | US Bancorp                                                                      | CUSIP: 91159HJR2<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    183000 | PA      | $190049.16    | 0.11%             | 2035-01-23      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                              | Fiserv Inc                                                                      | CUSIP: 337738BN7<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    136000 | PA      | $136319.60    | 0.08%             | 2034-08-12      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| COMPASS MINERALS INTERNA                                | Compass Minerals International Inc                                              | CUSIP: 20451NAJ0<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |    448000 | PA      | $463814.40    | 0.28%             | 2030-07-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                   | Wells Fargo Commercial Mortgage Trust 2025-VTT                                  | CUSIP: 94990GAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    459000 | PA      | $460396.55    | 0.27%             | 2038-03-15      | Variable      | 7.14%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                                      | Royalty Pharma PLC                                                              | CUSIP: 78081BAR4<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    185000 | PA      | $187430.90    | 0.11%             | 2034-09-02      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                    | Garda World Security Corp                                                       | CUSIP: 36485MAL3<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    448000 | PA      | $437091.20    | 0.26%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHOICE HOTELS INTL INC                                  | Choice Hotels International Inc                                                 | CUSIP: 169905AH9<br>LEI: 5493003CYRY5RFGTIR97 | Long             | DBT              | CORP              | US        |    302000 | PA      | $304482.44    | 0.18%             | 2034-08-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Securities Services                         | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: 549300WCGB70D06XZS54 | N/A              | DFE              |  | US        |         1 | NC      | $-20420.56    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                 | Frontier Communications Holdings LLC                                            | CUSIP: 35908MAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    361000 | PA      | $383681.63    | 0.23%             | 2031-03-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Worldwide Plaza Trust                                   | Worldwide Plaza Trust 2017-WWP                                                  | CUSIP: 98162JAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    220000 | PA      | $154142.58    | 0.09%             | 2036-11-10      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limited                        | Bain Capital Credit CLO 2024-4 Ltd                                              | CUSIP: 05685VAJ1<br>LEI: 254900X1J8WOE4EG9026 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $997400.00    | 0.59%             | 2037-10-23      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                  | US 2YR NOTE (CBT) SEP25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       140 | NC      | $123462.08    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI PROPERTIES LP                                      | VICI Properties LP                                                              | CUSIP: 925650AK9<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |    298000 | PA      | $300401.88    | 0.18%             | 2035-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND                                 | Blackstone Secured Lending Fund                                                 | CUSIP: 09261XAH5<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102142.00    | 0.06%             | 2027-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Jackson Park Trust                                      | Jackson Park Trust 2019-LIC                                                     | CUSIP: 46868RAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    640000 | PA      | $578936.01    | 0.35%             | 2039-10-14      | Fixed         | 2.91%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                                | Organon & Co / Organon Foreign Debt Co-Issuer BV                                | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    627000 | PA      | $544336.32    | 0.32%             | 2031-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CA MAGNUM HOLDINGS                                      | CA Magnum Holdings                                                              | CUSIP: 12674CAA1<br>LEI: 549300ZRDHFR078MFZ78 | Long             | DBT              | CORP              | MU        |    223000 | PA      | $221100.04    | 0.13%             | 2026-10-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Securities Services                         | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: 549300WCGB70D06XZS54 | N/A              | DFE              |  | US        |         1 | NC      | $-5066.51     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MERMAID BIDCO INC                                       | MERMAID BIDCO INC 2025 USD Add-On TERM LOAN B                                   | CUSIP: 000000000<br>LEI: 254900765HT42I3EW691 | Long             | LON              | CORP              | US        |    147000 | PA      | $146632.50    | 0.09%             | 2031-07-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                                           | Ballyrock CLO 21 Ltd                                                            | CUSIP: 05874JAS9<br>LEI: 254900FOV48Z8K26JH50 | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1000705.00   | 0.60%             | 2037-10-20      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| AMEREN CORP                                             | Ameren Corp                                                                     | CUSIP: 023608AR3<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |    615000 | PA      | $618905.25    | 0.37%             | 2035-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                                   | Trivium Packaging Finance BV                                                    | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    206000 | PA      | $217698.74    | 0.13%             | 2030-07-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                | BX Commercial Mortgage Trust 2021-VOLT                                          | CUSIP: 05609VAQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1453242 | PA      | $1446438.60   | 0.86%             | 2036-09-15      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD/LUX CO                                | JBS USA Holding Lux Sarl/ JBS USA Food Co/ JBS Lux Co Sarl                      | CUSIP: 46590XAY2<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    200000 | PA      | $205658.00    | 0.12%             | 2033-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                                  | Lumen Technologies Inc                                                          | CUSIP: 550241AB9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    201000 | PA      | $195920.73    | 0.12%             | 2029-04-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BLUE OWL FINANCE LLC                                    | Blue Owl Finance LLC                                                            | CUSIP: 09581JAT3<br>LEI: 254900OF2NO2GYFV5T41 | Long             | DBT              | CORP              | US        |    250000 | PA      | $257087.50    | 0.15%             | 2034-04-18      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MHC Commercial Mortgage Trust                           | MHC Commercial Mortgage Trust 2021-MHC                                          | CUSIP: 55316VAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    240000 | PA      | $240006.29    | 0.14%             | 2038-04-15      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                                   | Toorak Mortgage Trust 2025-RRTL1                                                | CUSIP: 89053JAB3<br>LEI: 25490023B58UP9CM5N96 | Long             | ABS-MBS          | CORP              | US        |    730000 | PA      | $726420.81    | 0.43%             | 2040-02-25      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                             | Extended Stay America Trust 2021-ESH                                            | CUSIP: 30227FAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1286592 | PA      | $1289804.04   | 0.77%             | 2038-07-15      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                  | Blackstone Private Credit Fund                                                  | CUSIP: 09261HBG1<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    147000 | PA      | $151177.74    | 0.09%             | 2031-01-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                                | Burford Capital Global Finance LLC                                              | CUSIP: 12116LAC3<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199814.00    | 0.12%             | 2030-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VERITIV OPERATING CO                                    | Veritiv Operating Co                                                            | CUSIP: 92339LAA0<br>LEI: 5493004G8OK5L1UTIY12 | Long             | DBT              | CORP              | US        |    658000 | PA      | $712673.22    | 0.42%             | 2030-11-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                    | Bank of America Corp                                                            | CUSIP: 06051GJF7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    608000 | PA      | $534006.40    | 0.32%             | 2031-07-23      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| BXP Trust                                               | BXP Trust 2017-GM                                                               | CUSIP: 056083AL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    580000 | PA      | $546352.31    | 0.33%             | 2039-06-13      | Variable      | 3.54%                 | No            |                  2 | On Loan: No      |
| CE INTERMEDIATE I LLC                                   | CE Intermediate I LLC 2025 Term Loan B                                          | CUSIP: 12523EAD4<br>LEI: 2549000GTXAQSR1SRO50 | Long             | LON              | CORP              | US        |    646750 | PA      | $645941.56    | 0.39%             | 2032-03-25      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                | Univision Communications Inc                                                    | CUSIP: 914906AV4<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    203000 | PA      | $184719.85    | 0.11%             | 2029-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                             | Extended Stay America Trust 2021-ESH                                            | CUSIP: 30227FAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1286592 | PA      | $1285632.67   | 0.77%             | 2038-07-15      | Floating      | 8.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                        | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 20754TAH5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1920000 | PA      | $1918889.34   | 1.14%             | 2045-02-25      | Floating      | 6.26%                 | No            |                  2 | On Loan: No      |
| International Entertainment JJCo 3 Ltd                  | International Entertainment JJCo 3 Ltd USD Term Loan B                          | CUSIP: 000000000<br>LEI: 254900C44ND8RC7Z9K20 | Long             | LON              | CORP              | GB        |    233000 | PA      | $233291.25    | 0.14%             | 2032-04-29      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                | Celanese US Holdings LLC                                                        | CUSIP: 15089QAY0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    258000 | PA      | $274008.90    | 0.16%             | 2033-11-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                                        | DT Midstream Inc                                                                | CUSIP: 23345MAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375000 | PA      | $382500.00    | 0.23%             | 2034-12-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                                | Benchmark 2024-V5 Mortgage Trust                                                | CUSIP: 08163XBB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $306320.34    | 0.18%             | 2057-01-10      | Variable      | 6.06%                 | No            |                  2 | On Loan: No      |
| ATLAS WAREHOUSE LEND                                    | Atlas Warehouse Lending Co LP                                                   | CUSIP: 049463AE2<br>LEI: 25490068J12A1HV7YM70 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252565.00    | 0.15%             | 2030-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                | Ginnie Mae                                                                      | CUSIP: 21H032670<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1013000 | PA      | $920719.75    | 0.55%             | 2054-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| TEVA PHARM FIN CO LLC                                   | Teva Pharmaceutical Finance Co LLC                                              | CUSIP: 88163VAD1<br>LEI: 5493006PITD7MU7WW480 | Long             | DBT              | CORP              | US        |    867000 | PA      | $888016.08    | 0.53%             | 2036-02-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                        | GGAM Finance Ltd                                                                | CUSIP: 36170JAA4<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    174000 | PA      | $184078.08    | 0.11%             | 2028-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F060675<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1270000 | PA      | $1290739.10   | 0.77%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                                   | Civitas Resources Inc                                                           | CUSIP: 17888HAD5<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    183000 | PA      | $187560.36    | 0.11%             | 2033-06-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                        | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 20755RAC9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    900000 | PA      | $902812.50    | 0.54%             | 2044-09-25      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| FS Commerical Mortgage Trust 2023-4SZN                  | FS Commercial Mortgage Trust 2023-4SZN                                          | CUSIP: 30334RAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1727000 | PA      | $1782384.48   | 1.06%             | 2039-11-10      | Variable      | 9.38%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                                              | Humana Inc                                                                      | CUSIP: 444859BV3<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |    328000 | PA      | $339539.04    | 0.20%             | 2033-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                            | Novelis Corp                                                                    | CUSIP: 670001AG1<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    208000 | PA      | $204595.04    | 0.12%             | 2026-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MTN Commercial Mortgage Trust 2022-LPFL                 | MTN Commercial Mortgage Trust 2022-LPFL                                         | CUSIP: 62475WAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    807000 | PA      | $806693.95    | 0.48%             | 2039-03-15      | Floating      | 9.61%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                             | BNP Paribas SA                                                                  | CUSIP: 05565AS20<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $214190.00    | 0.13%             | 2027-11-17      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                    | LifePoint Health Inc                                                            | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    217000 | PA      | $239806.70    | 0.14%             | 2030-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| BEAZER HOMES USA                                        | Beazer Homes USA Inc                                                            | CUSIP: 07556QBU8<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |    466000 | PA      | $472906.12    | 0.28%             | 2031-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                        | Connecticut Avenue Securities Series 2025-R01                                   | CUSIP: 20755JAC7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    900000 | PA      | $900391.74    | 0.54%             | 2045-01-25      | Floating      | 5.81%                 | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC                                        | AMC Networks Inc                                                                | CUSIP: 00164VAK9<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    341000 | PA      | $345947.91    | 0.21%             | 2032-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| BNP Paribas Securities Services                         | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: 549300WCGB70D06XZS54 | N/A              | DFE              |  | XX        |         1 | NC      | $14949.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HILTON GRAND VAC LLC/INC                                | Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower Inc       | CUSIP: 43284MAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    626000 | PA      | $576777.62    | 0.34%             | 2031-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ASTON MARTIN CAPITAL HOL                                | Aston Martin Capital Holdings Ltd                                               | CUSIP: 04625HAJ8<br>LEI: 213800H4GKEF3CJ8C774 | Long             | DBT              | CORP              | JE        |    342000 | PA      | $324718.74    | 0.19%             | 2029-03-31      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| SIXTH STREET LENDING PAR                                | Sixth Street Lending Partners                                                   | CUSIP: 829932AB8<br>LEI: 549300S9P1HMDERGCR64 | Long             | DBT              | CORP              | US        |     99000 | PA      | $102220.47    | 0.06%             | 2029-03-11      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                     | Freddie Mac STACR REMIC Trust 2024-DNA3                                         | CUSIP: 35564NFA6<br>LEI: 529900P3PHNE8PW64Z68 | Long             | ABS-MBS          | USGSE             | US        |   1820000 | PA      | $1822519.24   | 1.09%             | 2044-10-25      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                        | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 20753GAG6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    690000 | PA      | $693773.69    | 0.41%             | 2044-05-25      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| USI Inc                                                 | USI Inc 2024 Term Loan C                                                        | CUSIP: 90351NAQ8<br>LEI: 2549006D7UF7072T7I27 | Long             | LON              | CORP              | US        |    646742 | PA      | $644517.07    | 0.38%             | 2030-09-29      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc                                          | Bombardier Inc                                                                  | CUSIP: 097751AL5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    624000 | PA      | $677770.08    | 0.40%             | 2034-05-01      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                           | LGI Homes Inc                                                                   | CUSIP: 50187TAF3<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |    202000 | PA      | $180614.26    | 0.11%             | 2029-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                  | Cloud Software Group Inc                                                        | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    436000 | PA      | $452036.08    | 0.27%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                                       | Lithia Motors Inc                                                               | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    199000 | PA      | $189137.56    | 0.11%             | 2031-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                  | General Motors Financial Co Inc                                                 | CUSIP: 37045XCA2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    471000 | PA      | $464566.14    | 0.28%             | 2027-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                          | NRG Energy Inc                                                                  | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    183000 | PA      | $186800.91    | 0.11%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                          | Rocket Cos Inc                                                                  | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    194000 | PA      | $198739.42    | 0.12%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortgage Trust                 | Saluda Grade Alternative Mortgage Trust 2023-RTL3                               | CUSIP: 79583YAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1294636 | PA      | $1292144.66   | 0.77%             | 2029-04-25      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                        | LPL Holdings Inc                                                                | CUSIP: 50212YAK0<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    133000 | PA      | $137764.06    | 0.08%             | 2034-05-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ondeck Asset Securitization Trust LLC                   | OnDeck Asset Securitization IV LLC                                              | CUSIP: 68237DAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $200799.20    | 0.12%             | 2032-04-19      | Fixed         | 8.77%                 | No            |                  2 | On Loan: No      |
| RIVER ROCK ENTERTAINMNT ATHRTY                          | RIVER ROCK ENTERTAINMNT ATHRTY TERM LOAN                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    260000 | PA      | $252200.00    | 0.15%             | 2031-06-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                        | Vmed O2 UK Financing I PLC                                                      | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    379000 | PA      | $350521.94    | 0.21%             | 2031-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| First Help Financial LLC                                | FHF Issuer Trust 2025-1                                                         | CUSIP: 30340RAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    467000 | PA      | $473941.02    | 0.28%             | 2032-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                        | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 20754RAF3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1500000 | PA      | $1536086.52   | 0.92%             | 2041-10-25      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| PROOFPOINT INC                                          | Proofpoint Inc 2024 Term Loan                                                   | CUSIP: 74345HAG6<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |    572103 | PA      | $572166.21    | 0.34%             | 2028-08-31      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| PROOFPOINT INC                                          | PROOFPOINT INC 2025 FUNGIBLE TERM LOAN                                          | CUSIP: 74345HAJ0<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |     22000 | PA      | $22002.42     | 0.01%             | 2028-08-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING                                | JH North America Holdings Inc                                                   | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203518.00    | 0.12%             | 2032-07-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| FTAI INFRA ESC HLDGS LLC                                | FTAI Infra Escrow Holdings LLC                                                  | CUSIP: 30327TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    539000 | PA      | $560597.73    | 0.33%             | 2027-06-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                     | Exeter Automobile Receivables Trust 2024-3                                      | CUSIP: 30165AAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    230000 | PA      | $239367.99    | 0.14%             | 2031-10-15      | Fixed         | 7.84%                 | No            |                  2 | On Loan: No      |
| CMS ENERGY CORP                                         | CMS Energy Corp                                                                 | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |    193000 | PA      | $186602.05    | 0.11%             | 2050-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                | Univision Communications Inc                                                    | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    258000 | PA      | $258325.08    | 0.15%             | 2031-07-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                             | Gartner Inc                                                                     | CUSIP: 366651AE7<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |    145000 | PA      | $135751.90    | 0.08%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                      | JPMorgan Chase Bank NA - CHASE                                                  | CUSIP: 46591HAH3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    953552 | PA      | $991508.53    | 0.59%             | 2057-10-25      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                | Avis Budget Rental Car Funding AESOP LLC                                        | CUSIP: 05377RJS4<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   1046000 | PA      | $1052367.12   | 0.63%             | 2029-06-20      | Fixed         | 7.31%                 | No            |                  2 | On Loan: No      |
| PATRICK INDUSTRIES INC                                  | Patrick Industries Inc                                                          | CUSIP: 703343AH6<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |    351000 | PA      | $351996.84    | 0.21%             | 2032-11-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                      | JPMorgan Chase Bank NA - CHASE                                                  | CUSIP: 46591HAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1256495 | PA      | $1296620.09   | 0.77%             | 2057-10-25      | Floating      | 6.68%                 | No            |                  2 | On Loan: No      |
| CELSIUS HOLDINGS INC                                    | Celsius Holdings Inc Term Loan                                                  | CUSIP: 15118XAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    371000 | PA      | $372762.25    | 0.22%             | 2032-04-01      | Floating      | 7.49%                 | No            |                  2 | On Loan: No      |
| NIELSEN CONSUMER INC                                    | Nielsen Consumer Inc 2025 USD Term Loan                                         | CUSIP: 45674PAR5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    369075 | PA      | $368883.08    | 0.22%             | 2028-03-06      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                          | Morgan Stanley                                                                  | CUSIP: 6174468G7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    183000 | PA      | $182580.93    | 0.11%             | 2030-01-23      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                | Neuberger Berman Loan Advisers CLO 49 Ltd                                       | CUSIP: 64135JAS1<br>LEI: 549300IN02DS1MN5HW62 | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $996400.00    | 0.59%             | 2035-07-25      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| MARVELL TECHNOLOGY INC                                  | Marvell Technology Inc                                                          | CUSIP: 573874AS3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    113000 | PA      | $113881.40    | 0.07%             | 2035-07-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                | BX Trust 2021-ARIA                                                              | CUSIP: 05608RAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1496260.83   | 0.89%             | 2036-10-15      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| WILSONART LLC                                           | Wilsonart LLC                                                                   | CUSIP: 97246JAA6<br>LEI: 549300SAZRUMYKDJBY14 | Long             | DBT              | CORP              | US        |    458000 | PA      | $417915.84    | 0.25%             | 2032-08-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /                                | Albion Financing 1 SARL / Aggreko Holdings Inc                                  | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    228000 | PA      | $233255.40    | 0.14%             | 2030-05-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                | Ginnie Mae                                                                      | CUSIP: 21H040673<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    166000 | PA      | $154297.66    | 0.09%             | 2054-07-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Surgery Partners Inc                                    | Surgery Partners Inc                                                            | CUSIP: 86881A100<br>LEI: 549300LC82HG33S19I03 | Long             | EC               | CORP              | US        |      9459 | NS      | $210273.57    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| LGI HOMES INC                                           | LGI Homes Inc                                                                   | CUSIP: 50187TAK2<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |    259000 | PA      | $246573.18    | 0.15%             | 2032-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| RITHM CAPITAL CORP                                      | Rithm Capital Corp                                                              | CUSIP: 64828TAC6<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              |  | US        |    165000 | PA      | $165904.20    | 0.10%             | 2030-07-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust 2021-909                  | NYC Commercial Mortgage Trust 2021-909                                          | CUSIP: 67076XAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    385000 | PA      | $306646.81    | 0.18%             | 2043-04-10      | Variable      | 3.31%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                | BX Commercial Mortgage Trust 2024-AIRC                                          | CUSIP: 12433CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1456079 | PA      | $1459482.76   | 0.87%             | 2039-08-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co LLC                       | Sierra Timeshare 2025-1 Receivables Funding LLC                                 | CUSIP: 82653CAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    770126 | PA      | $743255.44    | 0.44%             | 2042-01-21      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                         | CVS Health Corp                                                                 | CUSIP: 126650CY4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    206000 | PA      | $188994.70    | 0.11%             | 2038-03-25      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| COOPR Residential Mortgage Trust                        | COOPR Residential Mortgage Trust 2025-CES1                                      | CUSIP: 12596SAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1046964 | PA      | $1052512.85   | 0.63%             | 2060-05-25      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust                           | NYC Commercial Mortgage Trust 2025-1155                                         | CUSIP: 67122BAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1651000 | PA      | $1638104.85   | 0.98%             | 2042-06-10      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| RAND PARENT LLC                                         | Rand Parent LLC                                                                 | CUSIP: 753272AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    681000 | PA      | $683226.87    | 0.41%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                        | CSC Holdings LLC                                                                | CUSIP: 126307BM8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    277000 | PA      | $275664.86    | 0.16%             | 2028-05-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| PENN ENTERTAINMENT INC                                  | Penn Entertainment Inc                                                          | CUSIP: 707569AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    607000 | PA      | $562573.67    | 0.34%             | 2029-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| QTS ISSUER ABS I LLC                                    | QTS Issuer ABS I LLC                                                            | CUSIP: 74690DAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    310000 | PA      | $314050.46    | 0.19%             | 2055-05-25      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| Ondeck Asset Securitization Trust LLC                   | OnDeck Asset Securitization IV LLC                                              | CUSIP: 68237DAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $498931.50    | 0.30%             | 2032-04-19      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                        | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 20754XAG8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1800000 | PA      | $1806734.07   | 1.08%             | 2044-07-25      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| Hunter Holdco 3 Limited                                 | Hunter Holdco 3 Limited USD Term Loan B                                         | CUSIP: 12509YAE6<br>LEI: 549300KXGY77REE4ZR63 | Long             | LON              | CORP              | US        |    660000 | PA      | $627000.00    | 0.37%             | 2028-08-19      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                 | Royal Caribbean Cruises Ltd                                                     | CUSIP: 780153BW1<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    186000 | PA      | $187149.48    | 0.11%             | 2031-09-30      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Sotheby's Artfi Master Trust 2024-A                     | Sotheby's Artfi Master Trust                                                    | CUSIP: 83589CAE8<br>LEI: 9845002FA850DM72BA31 | Long             | ABS-O            | CORP              | US        |    832000 | PA      | $838191.74    | 0.50%             | 2031-12-22      | Fixed         | 7.91%                 | No            |                  2 | On Loan: No      |
| Bank                                                    | BANK 2022-BNK43                                                                 | CUSIP: 06541QBK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $475303.00    | 0.28%             | 2055-08-15      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                                | Foundation Finance Trust 2023-2                                                 | CUSIP: 35042RAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    729318 | PA      | $775681.75    | 0.46%             | 2049-06-15      | Fixed         | 9.10%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                | BX Trust 2024-CNYN                                                              | CUSIP: 05612HAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1426714 | PA      | $1428062.46   | 0.85%             | 2041-04-15      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                | Vistra Operations Co LLC                                                        | CUSIP: 92840VAU6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    230000 | PA      | $234163.00    | 0.14%             | 2034-12-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| MERMAID BIDCO INC                                       | Mermaid Bidco Inc 2024 USD Term Loan B                                          | CUSIP: 59012CAL9<br>LEI: 254900765HT42I3EW691 | Long             | LON              | CORP              | US        |    358216 | PA      | $358216.08    | 0.21%             | 2031-07-03      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                  | US 10YR NOTE (CBT)SEP25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        15 | NC      | $28316.26     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| RENTOKIL TERMINIX LLC                                   | Rentokil Terminix Funding LLC                                                   | CUSIP: 760130AB0<br>LEI: 984500D5BAA7560EKJ44 | Long             | DBT              | CORP              | US        |    201000 | PA      | $203912.49    | 0.12%             | 2035-04-28      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                     | JPMorgan Chase & Co                                                             | CUSIP: 48128BAN1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    188000 | PA      | $185070.96    | 0.11%             | 2026-06-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                   | Level 3 Financing Inc                                                           | CUSIP: 527298BT9<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    239000 | PA      | $201876.13    | 0.12%             | 2029-07-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                | First Quantum Minerals Ltd                                                      | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    255000 | PA      | $261538.20    | 0.16%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MCGRAW-HILL EDUCATION                                   | McGraw-Hill Education Inc                                                       | CUSIP: 58064LAA2<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |    412000 | PA      | $429761.32    | 0.26%             | 2031-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank                            | Huntington Bank Auto Credit-Linked Notes Series 2025-1                          | CUSIP: 446438SZ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    242120 | PA      | $242036.40    | 0.14%             | 2033-03-21      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                              | Affirm Asset Securitization Trust 2024-A                                        | CUSIP: 00834BAH0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1793000 | PA      | $1801305.37   | 1.07%             | 2029-02-15      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Securities Services                         | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: 549300WCGB70D06XZS54 | N/A              | DFE              |  | US        |         1 | NC      | $-9214.22     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivables Trust                   | Westlake Automobile Receivables Trust 2025-P1                                   | CUSIP: 96043LAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    346000 | PA      | $351162.67    | 0.21%             | 2032-07-15      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINE HOLDCO                                | Columbia Pipelines Holding Co LLC                                               | CUSIP: 19828AAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    179000 | PA      | $179821.61    | 0.11%             | 2031-10-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                     | Freddie Mac STACR REMIC Trust 2021-DNA7                                         | CUSIP: 35564KMH9<br>LEI: 5493000ISOMSKCX2AW62 | Long             | ABS-MBS          | USGSE             | US        |   1850000 | PA      | $1863296.88   | 1.11%             | 2041-11-25      | Floating      | 6.11%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                   | Wells Fargo & Co                                                                | CUSIP: 95000U2G7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    294000 | PA      | $274690.08    | 0.16%             | 2030-10-30      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                | Capital One Financial Corp                                                      | CUSIP: 14040HDJ1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    358000 | PA      | $363867.62    | 0.22%             | 2036-01-30      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    388000 | PA      | $413755.44    | 0.25%             | 2034-06-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Inspired FinCo Holdings Limited                         | Inspired FinCo Holdings Limited 2025 EUR Term Loan B6                           | CUSIP: 000000000<br>LEI: 21380079CKTODVMD9183 | Long             | LON              | CORP              | GB        |    500000 | PA      | $586201.25    | 0.35%             | 2031-02-28      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| VAN POOL TRANSPORTATION LLC                             | VAN POOL TRANSPORTATION LLC 2025 TERM LOAN                                      | CUSIP: 07363PAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    352607 | PA      | $352166.03    | 0.21%             | 2030-06-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BXHPP TRUST                                             | BXHPP Trust 2021-FILM                                                           | CUSIP: 05609JAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    290000 | PA      | $277749.14    | 0.17%             | 2036-08-15      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| BXHPP Trust                                             | BXHPP Trust 2021-FILM                                                           | CUSIP: 05609JAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    480000 | PA      | $445157.11    | 0.27%             | 2036-08-15      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                          | Wynn Macau Ltd                                                                  | CUSIP: 98313RAE6<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    408000 | PA      | $387901.92    | 0.23%             | 2029-12-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partners LLC                    | PRET 2025-NPL4 LLC                                                              | CUSIP: 74136UAA3<br>LEI: 2549006327OOFEDCTX76 | Long             | ABS-O            | CORP              | US        |    687843 | PA      | $686506.55    | 0.41%             | 2055-04-25      | Variable      | 6.37%                 | No            |                  2 | On Loan: No      |
| LATAM AIRLINES GROUP SA                                 | Latam Airlines Group SA                                                         | CUSIP: 51817RAE6<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |    382000 | PA      | $383722.82    | 0.23%             | 2031-01-07      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                        | CIFC Funding 2018-II Ltd                                                        | CUSIP: 17180WAQ8<br>LEI: 635400A7PBKNR7KBOY58 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004163.00   | 0.60%             | 2037-10-20      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                  | US ULTRA BOND CBT SEP25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -23 | NC      | $-70553.88    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| DirecTV Financing LLC                                   | DirecTV Financing LLC 2024 Term Loan                                            | CUSIP: 25460HAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    617857 | PA      | $611956.60    | 0.36%             | 2029-08-02      | Floating      | 9.79%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                                   | Mineral Resources Ltd                                                           | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    248000 | PA      | $253198.08    | 0.15%             | 2028-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                              | Carvana Co                                                                      | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    398000 | PA      | $418544.76    | 0.25%             | 2030-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| 1211 Avenue of the Americas Trust                       | 1211 Avenue of the Americas Trust 2015-1211                                     | CUSIP: 90117PAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1096535.40   | 0.65%             | 2035-08-10      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| FLUTTER FINANCING BV                                    | FLUTTER FINANCING BV 2025 TERM LOAN B                                           | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |     90700 | PA      | $90586.63     | 0.05%             | 2032-06-04      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDIN                                | Raven Acquisition Holdings LLC                                                  | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    520000 | PA      | $519636.00    | 0.31%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Janus Henderson Emerging Markets Debt Hard Currency ETF | Janus Henderson Emerging Markets Debt Hard Currency ETF                         | CUSIP: 47103U738<br>LEI: 529900QLTSH6GU0R4M68 | Long             | EC               | RF                | US        |    148216 | NS      | $7670059.43   | 4.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Lonza Group AG                                          | Lonza Group AG USD Term Loan B                                                  | CUSIP: 000000000<br>LEI: 549300Y0CIXN5D40L888 | Long             | LON              | CORP              | US        |    670000 | PA      | $609398.50    | 0.36%             | 2028-07-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                | Hess Midstream Operations LP                                                    | CUSIP: 428102AE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    505000 | PA      | $485618.10    | 0.29%             | 2030-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Securities Services                         | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: 549300WCGB70D06XZS54 | N/A              | DFE              |  | US        |         1 | NC      | $-11070.01    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                   | American Airlines Inc                                                           | CUSIP: 023771T40<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |    517000 | PA      | $541722.94    | 0.32%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                       | Herc Holdings Inc                                                               | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    163000 | PA      | $170828.89    | 0.10%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ROCKET SOFTWARE INC                                     | Rocket Software Inc                                                             | CUSIP: 77314EAA6<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |    456000 | PA      | $443222.88    | 0.26%             | 2029-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Securities Services                         | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: 549300WCGB70D06XZS54 | N/A              | DFE              |  | US        |         1 | NC      | $-17108.29    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                        | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 20754XAC7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    910000 | PA      | $913128.13    | 0.54%             | 2044-07-25      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                            | Navient Corp                                                                    | CUSIP: 63938CAM0<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    191000 | PA      | $187109.33    | 0.11%             | 2029-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                                  | Lumen Technologies Inc                                                          | CUSIP: 550241AK9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    184000 | PA      | $187974.40    | 0.11%             | 2032-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| HUDBAY MINERALS INC                                     | Hudbay Minerals Inc                                                             | CUSIP: 443628AJ1<br>LEI: 894500LX3TMESP27BE29 | Long             | DBT              | CORP              | CA        |    307000 | PA      | $305210.19    | 0.18%             | 2026-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank                            | Huntington Bank Auto Credit-Linked Notes Series 2025-1                          | CUSIP: 446438TA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    448370 | PA      | $448216.47    | 0.27%             | 2033-03-21      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                                   | Trivium Packaging Finance BV                                                    | CUSIP: 89686QAC0<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $214566.00    | 0.13%             | 2031-01-15      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                                       | Lithia Motors Inc                                                               | CUSIP: 536797AG8<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    198000 | PA      | $188965.26    | 0.11%             | 2029-06-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                    | LifePoint Health Inc                                                            | CUSIP: 53219LAX7<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    201000 | PA      | $207180.75    | 0.12%             | 2032-06-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| White Cap Buyer LLC                                     | White Cap Buyer LLC 2024 Term Loan B                                            | CUSIP: 96350TAH3<br>LEI: 254900L2N0T6GULCL366 | Long             | LON              | CORP              | US        |    648371 | PA      | $643832.33    | 0.38%             | 2029-10-19      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                     | Freddie Mac Stacr Remic Trust 2025-Hqa1                                         | CUSIP: 35564NHA4<br>LEI: 529900MBUPRSJMB6GN48 | Long             | ABS-MBS          | USGSE             | US        |   1818000 | PA      | $1813907.26   | 1.08%             | 2045-02-25      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Compass Datacenters Issuer II, LLC                      | Compass Datacenters Issuer II LLC                                               | CUSIP: 20469CAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    557000 | PA      | $571777.67    | 0.34%             | 2050-05-25      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| MOTEL ONE GMBH                                          | Motel One GmbH EUR Term Loan B                                                  | CUSIP: 000000000<br>LEI: 529900OZ5000U0NZHM90 | Long             | LON              | CORP              | DE        |    500000 | PA      | $590170.94    | 0.35%             | 2032-05-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization Trust                      | Tricolor Auto Securitization Trust 2025-1                                       | CUSIP: 89617CAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    370000 | PA      | $378968.43    | 0.23%             | 2031-04-15      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| FORA Financial Asset Securitization                     | Fora Financial Asset Securitization 2024 LLC                                    | CUSIP: 34512PAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    416000 | PA      | $417855.86    | 0.25%             | 2029-08-15      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| MIDCONTINENT COMMUNICATI                                | Midcontinent Communications                                                     | CUSIP: 59565XAD2<br>LEI: 549300ZI9GDQBS28C408 | Long             | DBT              | CORP              | US        |    520000 | PA      | $551330.00    | 0.33%             | 2032-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GETTY IMAGES INC                                        | Getty Images Inc 2025 USD Term Loan B                                           | CUSIP: 37427UAQ3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    360000 | PA      | $355950.00    | 0.21%             | 2030-02-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LIONS GATE CAPITAL HOL 1                                | Starz Capital Holdings 1 Inc                                                    | CUSIP: 535939AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    495000 | PA      | $430362.90    | 0.26%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Jackson Park Trust                                      | Jackson Park Trust 2019-LIC                                                     | CUSIP: 46868RAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $913905.77    | 0.54%             | 2039-10-14      | Fixed         | 2.77%                 | No            |                  2 | On Loan: No      |
| UNITI GRP/UNITI HLD/CSL                                 | Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC                     | CUSIP: 91327AAB8<br>LEI: N/A                  | Long             | DBT              |  | US        |    184000 | PA      | $172347.28    | 0.10%             | 2030-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                           | Citigroup Inc                                                                   | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    187000 | PA      | $185638.64    | 0.11%             | 2025-12-10      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| APPLOVIN CORP                                           | AppLovin Corp                                                                   | CUSIP: 03831WAD0<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |    393000 | PA      | $399130.80    | 0.24%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                | Ford Motor Credit Co LLC                                                        | CUSIP: 345397C35<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    415000 | PA      | $430981.65    | 0.26%             | 2027-11-04      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALTH SVCS                                   | Universal Health Services Inc                                                   | CUSIP: 913903AW0<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |    641000 | PA      | $571259.20    | 0.34%             | 2030-10-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                   | Quikrete Holdings Inc                                                           | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    163000 | PA      | $168139.39    | 0.10%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                                        | Allied Universal Holdco LLC / Allied Universal Finance Corp                     | CUSIP: 019576AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    415000 | PA      | $421204.25    | 0.25%             | 2030-06-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BROADSTONE NET LEASE LLC                                | Broadstone Net Lease LLC                                                        | CUSIP: 11135EAA2<br>LEI: 54930089IBT6J4WBTI50 | Long             | DBT              |  | US        |    141000 | PA      | $119923.32    | 0.07%             | 2031-09-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| HLF FIN SARL LLC/HERBALI                                | HLF Financing Sarl LLC / Herbalife International Inc                            | CUSIP: 40390DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    118000 | PA      | $100114.74    | 0.06%             | 2029-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Generate CLO 8 Ltd.                                     | Generate CLO 8 Ltd                                                              | CUSIP: 37148EAU8<br>LEI: 2549002O2LJ1LE1W2D54 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002077.00   | 0.60%             | 2038-01-20      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Fixed Income Clearing Corp                              | FIXED INC CLEARING CORP.REPO                                                    | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   1208931 | PA      | $1208930.77   | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Foundation Building Materials Holding Company LLC       | Foundation Building Materials Holding Company LLC 2024 Term Loan B2             | CUSIP: 35039KAD8<br>LEI: 549300ZVE6MONHB01I28 | Long             | LON              | CORP              | US        |    666625 | PA      | $651385.64    | 0.39%             | 2031-01-29      | Floating      | 8.28%                 | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG 2006                                  | FMG Resources August 2006 Pty Ltd                                               | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    127000 | PA      | $118320.82    | 0.07%             | 2031-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                                 | Booz Allen Hamilton Inc                                                         | CUSIP: 09951LAD5<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |    284000 | PA      | $289745.32    | 0.17%             | 2035-04-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                | Occidental Petroleum Corp                                                       | CUSIP: 674599EL5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    316000 | PA      | $310106.60    | 0.18%             | 2034-10-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                | Capital One Financial Corp                                                      | CUSIP: 254709AT5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    154000 | PA      | $178997.28    | 0.11%             | 2034-11-02      | Fixed         | 7.96%                 | No            |                  2 | On Loan: No      |
| Vontive Mortgage Trust 2025-RTL1                        | Vontive Mortgage Trust 2025-RTL1                                                | CUSIP: 928884AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    897000 | PA      | $904099.76    | 0.54%             | 2030-03-25      | Variable      | 6.51%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                  | US LONG BOND(CBT) SEP25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        45 | NC      | $155674.27    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas Securities Services                         | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: 549300WCGB70D06XZS54 | N/A              | DFE              |  | US        |         1 | NC      | $-15070.95    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CAPSTONE BORROWER INC                                   | Capstone Borrower Inc                                                           | CUSIP: 140944AB5<br>LEI: 254900YSP2BAI3YKIX08 | Long             | DBT              | CORP              | US        |    272000 | PA      | $283459.36    | 0.17%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NRZ Excess Spread Collateralized Notes                  | NRM FHT1 Excess Owner LLC                                                       | CUSIP: 64832EAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1540341 | PA      | $1538415.29   | 0.92%             | 2032-03-25      | Variable      | 6.54%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                               | SUNOCO LP                                                                       | CUSIP: 86765KAD1<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    332000 | PA      | $337481.32    | 0.20%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC             | BBCMS Mortgage Trust 2024-5C29                                                  | CUSIP: 05555PAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $505722.00    | 0.30%             | 2057-09-15      | Variable      | 5.86%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                   | Caesars Entertainment Inc                                                       | CUSIP: 12769GAD2<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    474000 | PA      | $464572.14    | 0.28%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Star Parent Inc                                         | Star Parent Inc Term Loan B                                                     | CUSIP: 87169DAB1<br>LEI: 254900GRGCJYRMDRWT73 | Long             | LON              | CORP              | US        |    646725 | PA      | $640057.70    | 0.38%             | 2030-09-27      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| Modena Buyer LLC                                        | Modena Buyer LLC Term Loan                                                      | CUSIP: 60753DAC8<br>LEI: 254900B0G2IU0VBDOY26 | Long             | LON              | CORP              | US        |    648371 | PA      | $623246.56    | 0.37%             | 2031-07-01      | Floating      | 8.78%                 | No            |                  2 | On Loan: No      |
| Mattel Inc                                              | Mattel Inc                                                                      | CUSIP: 577081AW2<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |    117000 | PA      | $104128.83    | 0.06%             | 2041-11-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| MARVELL TECHNOLOGY INC                                  | Marvell Technology Inc                                                          | CUSIP: 573874AR5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    114000 | PA      | $114575.70    | 0.07%             | 2030-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                                         | MVW 2025-1 LLC                                                                  | CUSIP: 627924AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    385029 | PA      | $391665.92    | 0.23%             | 2042-09-22      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| JOURNEY PERSONAL CARE CORP                              | Journey Personal Care Corp 2024 Term Loan B                                     | CUSIP: 48114NAF8<br>LEI: 5493000G9KGROJ41TP46 | Long             | LON              | CORP              | US        |    370000 | PA      | $369537.50    | 0.22%             | 2028-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                  | US 5YR NOTE (CBT) SEP25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       314 | NC      | $364385.91    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| LONG RIDGE ENERGY LLC                                   | Long Ridge Energy LLC                                                           | CUSIP: 54288CAA1<br>LEI: 984500764EC9AZ2FC764 | Long             | DBT              | CORP              | US        |    898000 | PA      | $933030.98    | 0.56%             | 2032-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                        | GGAM Finance Ltd                                                                | CUSIP: 36170JAE6<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    185000 | PA      | $186113.70    | 0.11%             | 2030-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TRONOX INC                                              | Tronox Inc                                                                      | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |    422000 | PA      | $364008.76    | 0.22%             | 2029-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                                             | ASURION LLC 2025 TERM LOAN B13                                                  | CUSIP: 04649VBE9<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    443750 | PA      | $430659.38    | 0.26%             | 2030-09-19      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                                    | Pilgrim's Pride Corp                                                            | CUSIP: 72147KAK4<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    298000 | PA      | $315140.96    | 0.19%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                            | NiSource Inc                                                                    | CUSIP: 65473PAR6<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    394000 | PA      | $410603.16    | 0.24%             | 2054-11-30      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| STONEPEAK NILE PARENT                                   | Stonepeak Nile Parent LLC                                                       | CUSIP: 861932AA9<br>LEI: 254900TJV3VAFZD0GU41 | Long             | DBT              | CORP              | US        |    620000 | PA      | $657572.00    | 0.39%             | 2032-03-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| DARKTRACE PLC                                           | Darktrace PLC 1st Lien Term Loan                                                | CUSIP: 52526CAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    359100 | PA      | $359236.46    | 0.21%             | 2031-10-09      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                | Ginnie Mae                                                                      | CUSIP: 21H050672<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     76000 | PA      | $74648.49     | 0.04%             | 2054-07-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VICTRA HLDG/VICTRA FIN                                  | Victra Holdings LLC / Victra Finance Corp                                       | CUSIP: 92648DAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    612000 | PA      | $640953.72    | 0.38%             | 2029-09-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                               | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F050676<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1186000 | PA      | $1162494.67   | 0.69%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOYA MIDCO LLC                                          | Hoya Midco LLC 2025 Term Loan B                                                 | CUSIP: 44325HAF5<br>LEI: 549300LK73TSUP0YKH27 | Long             | LON              | CORP              | US        |    174290 | PA      | $150814.55    | 0.09%             | 2029-02-03      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                     | NCL Corp Ltd                                                                    | CUSIP: 62886HBG5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    294000 | PA      | $312636.66    | 0.19%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CLEARWATER ANALYTICS LLC                                | Clearwater Analytics LLC 2025 Term Loan B                                       | CUSIP: 18512EAF9<br>LEI: 894500N8DN2JO5ZDRQ11 | Long             | LON              | CORP              | US        |    370000 | PA      | $369537.50    | 0.22%             | 2032-04-21      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                  | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    728000 | PA      | $767994.33    | 0.46%             | 2029-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2014-2 A PTT                                 | United Airlines 2014-2 Class A Pass Through Trust                               | CUSIP: 90932QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    159117 | PA      | $156860.32    | 0.09%             | 2026-09-03      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                        | Connecticut Avenue Securities Series 2025-R01                                   | CUSIP: 20755JAG8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1827000 | PA      | $1825833.15   | 1.09%             | 2045-01-25      | Floating      | 6.01%                 | No            |                  2 | On Loan: No      |
| FULL HOUSE RESORTS INC                                  | Full House Resorts Inc                                                          | CUSIP: 359678AC3<br>LEI: 5493009DKIWW0H901Y82 | Long             | DBT              | CORP              | US        |    512000 | PA      | $496276.48    | 0.30%             | 2028-02-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| WESTERN DIGITAL CORP                                    | Western Digital Corp                                                            | CUSIP: 958102AQ8<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |    257000 | PA      | $238724.73    | 0.14%             | 2029-02-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization Trust                      | Tricolor Auto Securitization Trust 2025-1                                       | CUSIP: 89617CAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $405276.80    | 0.24%             | 2032-04-15      | Fixed         | 10.37%                | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                  | US 10YR ULTRA FUT SEP25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -99 | NC      | $-181337.67   | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Benefit Street Partners CLO Ltd                         | Benefit Street Partners CLO XXVIII Ltd                                          | CUSIP: 08179KAS2<br>LEI: 549300VHDAICRAGZNJ35 | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1004769.00   | 0.60%             | 2037-10-20      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| MAXAM PRILL SARL                                        | Maxam Prill Sarl                                                                | CUSIP: 57779MAA8<br>LEI: 984500C4C5B820A6B691 | Long             | DBT              | CORP              | LU        |    565000 | PA      | $565644.10    | 0.34%             | 2030-07-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                       | Herc Holdings Inc                                                               | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    227000 | PA      | $237669.00    | 0.14%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LONG RIDGE ENERGY LLC                                   | Long Ridge Energy LLC Term Loan B                                               | CUSIP: 000000000<br>LEI: 984500764EC9AZ2FC764 | Long             | LON              | CORP              | US        |     85785 | PA      | $84390.99     | 0.05%             | 2032-02-19      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| Coinstar Funding, LLC                                   | Coinstar Funding LLC Series 2017-1                                              | CUSIP: 19260MAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    920000 | PA      | $850961.74    | 0.51%             | 2047-04-25      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                | BX Commercial Mortgage Trust 2024-GPA3                                          | CUSIP: 123910AE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    456667 | PA      | $457120.12    | 0.27%             | 2039-12-15      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| OAKTREE STRATEGIC CREDIT                                | Oaktree Strategic Credit Fund                                                   | CUSIP: 67403AAB5<br>LEI: 2549006RRE0JC7G43241 | Long             | DBT              | CORP              | US        |     47000 | PA      | $50673.05     | 0.03%             | 2028-11-14      | Fixed         | 8.40%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                                   | Civitas Resources Inc                                                           | CUSIP: 17888HAB9<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    453000 | PA      | $458571.90    | 0.27%             | 2031-07-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

**Name of Applicant:** Guardian Variable Products Trust

**Signature:** Larry Weiss

**Name of Signer:** Larry Weiss

**Title:** Treasurer