# EDGAR Filing Document

**Accession Number:** 0001048702
**File Stem:** 0002071691-25-010022
**Filing Date:** 2025-12
**Character Count:** 282528
**Document Hash:** 4422d41f3cff127120eecf94dbacd086
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-010022.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0002071691-25-010022

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20251031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08495
- **FILM NUMBER:** 251599469

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

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

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

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

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

## Series and Classes Contracts Data

### Nationwide Strategic Income Fund (Series ID: S000051210)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000161356 | Class A                     | NWXEX           |
| C000161358 | Class R6                    | NWXGX           |
| C000161359 | Institutional Service Class | NWXHX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Columbus

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 43215

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

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

- **a. Name of Series:** Nationwide Strategic Income Fund

- **b. EDGAR series identifier (if any):** S000051210

- **c. LEI of Series:** 54930040HJF5CDLCWL94

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1645756200.00

**Total Liabilities:** $187109907.71

**Net Assets:** $1458646292.29

**Cash Not Reported:** $20423129.09

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1969.06203900 | **1-Year:** 18793.27090700 | **5-Year:** 100585.49684900 | **10-Year:** 221252.70961300 | **30-Year:** 64967.80235100

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

- **3-Month:** 107.83627900 | **1-Year:** 24255.33368900 | **5-Year:** 86018.00677100 | **10-Year:** 26726.96893000 | **30-Year:** 3295.49790700

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000161356 | 0.99%                | 0.75%                | 0.30%                |
| Class ID C000161359 | 0.99%                | 0.72%                | 0.32%                |
| Class ID C000161358 | 0.99%                | 0.75%                | 0.33%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2854120.30              | $10653425.76                               |
| Month 2  | $2362872.86              | $6995812.54                                |
| Month 3  | $269345.55               | $-2126185.88                               |

**Designated Index Information**

- **Index Name:** Portfolio Excluding Derivatives

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                                   | Title                                                                             | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Santander Drive Auto Receivables Trust                 | Santander Drive Auto Receivables Trust, Series 2024-1, Class C                    | CUSIP: 80288AAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    830000 | PA      | $838496.63    | 0.06%             | 2030-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                | MPLX LP                                                                           | CUSIP: 55336VCC2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   8380000 | PA      | $8414621.13   | 0.58%             | 2035-09-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| MFA Trust                                              | MFA Trust, Series 2024-NQM2, Class B1B                                            | CUSIP: 58004JAF9<br>LEI: 254900MMVXALAH2X8D73 | Long             | ABS-MBS          | CORP              | US        |   2378000 | PA      | $2373735.53   | 0.16%             | 2069-08-25      | Variable      | 7.29%                 | Yes           |                  2 | On Loan: No      |
| Bellemeade RE Ltd.                                     | Bellemeade RE Ltd., Series 2021-3A, Class B1                                      | CUSIP: 078777AF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |   1380000 | PA      | $1426970.09   | 0.10%             | 2031-09-25      | Floating      | 8.03%                 | Yes           |                  2 | On Loan: No      |
| KeyCorp                                                | KeyCorp                                                                           | CUSIP: 49326EEQ2<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |   4365000 | PA      | $4472481.40   | 0.31%             | 2031-04-04      | Variable      | 5.12%                 | No            |                  2 | On Loan: —       |
| Equify ABS LLC                                         | Equify ABS LLC, Series 2024-1A, Class A                                           | CUSIP: 29445TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    807481 | PA      | $807909.00    | 0.06%             | 2033-04-18      | Fixed         | 5.43%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial, Inc.                                   | Ally Financial, Inc.                                                              | CUSIP: 02005NBW9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   2335000 | PA      | $2375381.56   | 0.16%             | 2031-01-17      | Variable      | 5.54%                 | No            |                  2 | On Loan: —       |
| Resorts World Las Vegas LLC                            | Resorts World Las Vegas LLC                                                       | CUSIP: 76120HAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4400000 | PA      | $4460557.20   | 0.31%             | 2030-07-27      | Fixed         | 8.45%                 | Yes           |                  2 | On Loan: —       |
| U.S. Treasury Bills                                    | U.S. Treasury Bills                                                               | CUSIP: 912797RQ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   6000000 | PA      | $5985777.00   | 0.41%             | 2025-11-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GCAT Trust                                             | GCAT Trust, Series 2021-CM1, Class M1                                             | CUSIP: 36168AAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    530000 | PA      | $472176.31    | 0.03%             | 2065-04-25      | Variable      | 3.28%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                             | Progress Residential Trust, Series 2021-SFR7, Class F                             | CUSIP: 74333PAN7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    840000 | PA      | $793519.10    | 0.05%             | 2040-08-17      | Fixed         | 3.83%                 | Yes           |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                | Talen Energy Supply LLC                                                           | CUSIP: 87422VAM0<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |   3530000 | PA      | $3619835.96   | 0.25%             | 2034-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Lending Funding Trust                                  | Lending Funding Trust, Series 2020-2A, Class D                                    | CUSIP: 51507KAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3435000 | PA      | $3413044.51   | 0.23%             | 2031-04-21      | Fixed         | 6.77%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                  | FHLMC STACR Trust, Series 2019-FTR4, Class B2                                     | CUSIP: 35565GAE7<br>LEI: 549300K0XW5MBR2WNZ55 | Long             | ABS-MBS          | CORP              | US        |   1280000 | PA      | $1392272.64   | 0.10%             | 2047-11-25      | Floating      | 9.30%                 | Yes           |                  2 | On Loan: No      |
| Nordea Bank Abp                                        | Nordea Bank Abp                                                                   | CUSIP: 65558RAQ2<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   1895000 | PA      | $1955893.93   | 0.13%             | 2033-11-10      | Variable      | 6.75%                 | Yes           |                  2 | On Loan: No      |
| BSPRT Issuer LLC                                       | BSPRT Issuer LLC, Series 2024-FL11, Class A                                       | CUSIP: 05613RAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1930000 | PA      | $1940633.91   | 0.13%             | 2039-07-15      | Floating      | 5.67%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                    | Connecticut Avenue Securities Trust, Series 2023-R06, Class 1M1                   | CUSIP: 20754EAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    287755 | PA      | $288820.35    | 0.02%             | 2043-07-25      | Floating      | 5.88%                 | Yes           |                  2 | On Loan: No      |
| CFMT LLC                                               | CFMT LLC, Series 2024-HB14, Class M3                                              | CUSIP: 12530XAD3<br>LEI: 9845005986F840FBE847 | Long             | ABS-MBS          | CORP              | US        |   1660000 | PA      | $1581770.67   | 0.11%             | 2034-06-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| CVS Health Corp.                                       | CVS Health Corp.                                                                  | CUSIP: 126650EC0<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   6060000 | PA      | $6360212.40   | 0.44%             | 2031-06-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: —       |
| CSC Holdings LLC                                       | CSC Holdings LLC                                                                  | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   4300000 | PA      | $3396830.15   | 0.23%             | 2029-01-31      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: —       |
| Ocelot Re Ltd.                                         | Ocelot Re Ltd., Series A                                                          | CUSIP: 675951AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    750000 | PA      | $768600.00    | 0.05%             | 2029-02-26      | Floating      | 8.34%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                              | Ford Motor Credit Co. LLC                                                         | CUSIP: 345397B69<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1360815.69   | 0.09%             | 2031-06-17      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| ION Platform Finance US, Inc.                          | ION Platform Finance US, Inc.                                                     | CUSIP: 46206AAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3905000 | PA      | $3953145.76   | 0.27%             | 2029-08-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: —       |
| Merna Reinsurance II Ltd.                              | Merna Reinsurance II Ltd., Series B                                               | CUSIP: 59013MAL6<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $266325.00    | 0.02%             | 2027-07-07      | Floating      | 12.63%                | Yes           |                  2 | On Loan: No      |
| Aquila Re I Ltd.                                       | Aquila Re I Ltd., Series C-1                                                      | CUSIP: 03843AAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $261575.00    | 0.02%             | 2026-06-08      | Floating      | 12.71%                | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                    | Connecticut Avenue Securities Trust, Series 2022-R02, Class 2B2                   | CUSIP: 20754BAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3990000 | PA      | $4256148.96   | 0.29%             | 2042-01-25      | Floating      | 11.83%                | Yes           |                  2 | On Loan: No      |
| Bluebonnet RE Ltd.                                     | Bluebonnet RE Ltd., Series A                                                      | CUSIP: 09610NAD4<br>LEI: 2549007DQLA6K2ACFN15 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $270025.00    | 0.02%             | 2027-06-07      | Floating      | 15.91%                | Yes           |                  2 | On Loan: No      |
| Gateway Re Ltd.                                        | Gateway Re Ltd., Series A                                                         | CUSIP: 36779CAC0<br>LEI: 549300ZYFWQV9RCIN520 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $260125.00    | 0.02%             | 2026-02-24      | Floating      | 17.78%                | Yes           |                  2 | On Loan: No      |
| River Rock Entertainment                               | River Rock Entertainment, First Lien Term Loan                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  13815000 | PA      | $13400550.00  | 0.92%             | 2031-06-25      | Variable      | 10.00%                | No            |                  2 | On Loan: No      |
| United Mexican States                                  | United Mexican States                                                             | CUSIP: N/A<br>LEI: 254900EGTWEU67VP6075       | Long             | DBT              | NUSS              | MX        |   6420000 | PA      | $7612478.11   | 0.52%             | 2037-05-04      | Fixed         | 5.12%                 | No            |                  2 | On Loan: —       |
| FIGRE Trust                                            | FIGRE Trust, Series 2024-HE3, Class A                                             | CUSIP: 31684GAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1829327 | PA      | $1856716.46   | 0.13%             | 2054-07-25      | Variable      | 5.94%                 | Yes           |                  2 | On Loan: No      |
| BSPRT Issuer Ltd.                                      | BSPRT Issuer Ltd., Series 2022-FL8, Class A                                       | CUSIP: 055983AA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    121130 | PA      | $121068.98    | 0.01%             | 2037-02-15      | Floating      | 5.73%                 | Yes           |                  2 | On Loan: No      |
| Banco Santander SA                                     | Banco Santander SA                                                                | CUSIP: 05964HBG9<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   6200000 | PA      | $6509396.18   | 0.45%             | 2031-07-15      | Fixed         | 5.44%                 | No            |                  2 | On Loan: —       |
| Connecticut Avenue Securities Trust                    | Connecticut Avenue Securities Trust, Series 2024-R06, Class 1M1                   | CUSIP: 20755RAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    237004 | PA      | $237003.77    | 0.02%             | 2044-09-25      | Floating      | 5.23%                 | Yes           |                  2 | On Loan: No      |
| Mona Lisa Re Ltd.                                      | Mona Lisa Re Ltd., Series B                                                       | CUSIP: 608800AG3<br>LEI: 549300R6SO6XBFDC7M25 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $254875.00    | 0.02%             | 2026-01-08      | Floating      | 16.38%                | Yes           |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                 | Santander Drive Auto Receivables Trust, Series 2024-4, Class D                    | CUSIP: 802919AF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2270000 | PA      | $2285375.39   | 0.16%             | 2031-12-15      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                          | Freedom Mortgage Holdings LLC                                                     | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |   2474000 | PA      | $2579427.38   | 0.18%             | 2032-04-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Truist Bank                                            | Truist Bank                                                                       | CUSIP: 89788JAF6<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |  17470000 | PA      | $17537297.58  | 1.20%             | 2028-07-24      | Variable      | 4.42%                 | No            |                  2 | On Loan: No      |
| Four Lakes Re Ltd.                                     | Four Lakes Re Ltd., Series A                                                      | CUSIP: 35087TAD0<br>LEI: 549300MG4RRU6DT7MN54 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $252250.00    | 0.02%             | 2026-01-07      | Floating      | 10.81%                | Yes           |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                    | Exeter Automobile Receivables Trust, Series 2025-2A, Class E                      | CUSIP: 30168JAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1830000 | PA      | $1870180.03   | 0.13%             | 2032-10-15      | Fixed         | 7.81%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                   | FNMA, Series 2012-130, Class UI                                                   | CUSIP: 3136AAGJ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     41873 | PA      | $638.43       | 0.00%             | 2027-12-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                               | BX Trust, Series 2021-ARIA, Class G                                               | CUSIP: 05608RAQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2070000 | PA      | $2067427.82   | 0.14%             | 2036-10-15      | Floating      | 7.29%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                             | Verus Securitization Trust, Series 2024-2, Class B1                               | CUSIP: 92539UAE0<br>LEI: 213800KSJFZ5H8FZ7C61 | Long             | ABS-MBS          | CORP              | US        |   3340000 | PA      | $3396651.74   | 0.23%             | 2069-02-25      | Variable      | 7.86%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                    | Connecticut Avenue Securities Trust, Series 2020-R02, Class 2B1                   | CUSIP: 20754WAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2445000 | PA      | $2496563.83   | 0.17%             | 2040-01-25      | Floating      | 7.30%                 | Yes           |                  2 | On Loan: No      |
| Nippon Life Insurance Co.                              | Nippon Life Insurance Co.                                                         | CUSIP: 654579AP6<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |   9150000 | PA      | $9917529.45   | 0.68%             | 2055-04-30      | Variable      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Mystic Re IV Ltd.                                      | Mystic Re IV Ltd., Series A                                                       | CUSIP: 62865LAF4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $255525.00    | 0.02%             | 2028-01-10      | Floating      | 7.84%                 | Yes           |                  2 | On Loan: No      |
| Borr IHC Ltd.                                          | Borr IHC Ltd.                                                                     | CUSIP: 100018AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6175976 | PA      | $6146954.59   | 0.42%             | 2030-11-15      | Fixed         | 10.38%                | Yes           |                  2 | On Loan: —       |
| Hyundai Capital America                                | Hyundai Capital America                                                           | CUSIP: 44891ACR6<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    695000 | PA      | $737074.69    | 0.05%             | 2029-01-16      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Ready Capital Mortgage Financing LLC                   | Ready Capital Mortgage Financing LLC, Series 2023-FL11, Class B                   | CUSIP: 75575RAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1440000 | PA      | $1441510.85   | 0.10%             | 2039-10-25      | Floating      | 7.52%                 | Yes           |                  2 | On Loan: No      |
| Allianz SE                                             | Allianz SE                                                                        | CUSIP: 018820AD2<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |   3600000 | PA      | $3711078.00   | 0.25%             | 2054-09-03      | Variable      | 5.60%                 | Yes           |                  2 | On Loan: No      |
| FHF Issuer Trust                                       | FHF Issuer Trust, Series 2024-3A, Class C                                         | CUSIP: 30339EAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1250000 | PA      | $1174041.88   | 0.08%             | 2031-03-17      | Fixed         | 5.43%                 | Yes           |                  2 | On Loan: No      |
| Blackbird Capital II Aircraft Lease Ltd.               | Blackbird Capital II Aircraft Lease Ltd., Series 2021-1A, Class B                 | CUSIP: 09229CAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    939451 | PA      | $898718.07    | 0.06%             | 2046-07-15      | Fixed         | 3.45%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                           | UBS Group AG                                                                      | CUSIP: 225401BH0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    440000 | PA      | $445628.04    | 0.03%             | 2030-02-10      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: —       |
| FHF Issuer Trust                                       | FHF Issuer Trust, Series 2024-3A, Class D                                         | CUSIP: 30339EAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    710000 | PA      | $666168.15    | 0.05%             | 2031-12-15      | Fixed         | 6.01%                 | Yes           |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                 | Velocity Commercial Capital Loan Trust, Series 2024-6, Class A                    | CUSIP: 92261BAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1095304 | PA      | $1103555.64   | 0.08%             | 2054-12-25      | Variable      | 5.81%                 | Yes           |                  2 | On Loan: No      |
| Vista Point Securitization Trust                       | Vista Point Securitization Trust, Series 2025-CES3, Class A1                      | CUSIP: 92842MAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6440000 | PA      | $6423102.08   | 0.44%             | 2055-11-25      | Variable      | 5.30%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                   | GNMA, Series 2019-159, Class CI                                                   | CUSIP: 38382BHB2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    317001 | PA      | $51814.71     | 0.00%             | 2049-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                    | Societe Generale SA                                                               | CUSIP: 83368RBZ4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   4600000 | PA      | $4646006.76   | 0.32%             | 2027-02-19      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                         | BNP Paribas SA                                                                    | CUSIP: 05602XJC3<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    682000 | PA      | $705233.69    | 0.05%             | 2034-09-10      | Variable      | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Element Fleet Management Corp.                         | Element Fleet Management Corp.                                                    | CUSIP: 286181AK8<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |   1605000 | PA      | $1696475.61   | 0.12%             | 2028-12-04      | Fixed         | 6.32%                 | Yes           |                  2 | On Loan: No      |
| Solomon Re Ltd.                                        | Solomon Re Ltd., Series A                                                         | CUSIP: 83427GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $512200.00    | 0.04%             | 2026-06-08      | Floating      | 9.40%                 | Yes           |                  2 | On Loan: No      |
| Global Aircraft Leasing Co. Ltd.                       | Global Aircraft Leasing Co. Ltd.                                                  | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   2465000 | PA      | $2537816.10   | 0.17%             | 2027-09-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: —       |
| FHLMC                                                  | FHLMC, Series 4097, Class CI                                                      | CUSIP: 3137ATHP0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     40080 | PA      | $694.26       | 0.00%             | 2027-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Ursa Re Ltd.                                           | Ursa Re Ltd., Series F                                                            | CUSIP: 90323WAR1<br>LEI: 549300O8X4DWGDJZ6W59 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $507650.00    | 0.03%             | 2028-02-22      | Floating      | 11.38%                | Yes           |                  2 | On Loan: No      |
| A&D Mortgage Trust                                     | A&D Mortgage Trust, Series 2024-NQM5, Class B1A                                   | CUSIP: 00039KAG5<br>LEI: 9845006Z1DC68561N347 | Long             | ABS-MBS          | CORP              | US        |   1756000 | PA      | $1798149.27   | 0.12%             | 2069-11-25      | Variable      | 7.70%                 | Yes           |                  2 | On Loan: No      |
| Sempra                                                 | Sempra                                                                            | CUSIP: 816851BV0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   5480000 | PA      | $5612259.80   | 0.38%             | 2055-04-01      | Variable      | 6.55%                 | No            |                  2 | On Loan: —       |
| U.S. Treasury Bills                                    | U.S. Treasury Bills                                                               | CUSIP: 912797RN9<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  10000000 | PA      | $9990406.20   | 0.68%             | 2025-11-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LLC                                                    | MF1 LLC, Series 2025-FL19, Class C                                                | CUSIP: 55287KAG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1340000 | PA      | $1349006.41   | 0.09%             | 2042-05-18      | Floating      | 6.87%                 | Yes           |                  2 | On Loan: No      |
| Republic of Chile                                      | Republic of Chile                                                                 | CUSIP: N/A<br>LEI: 549300FLZTJM5YJF8D34       | Long             | DBT              | NUSS              | CL        |   1870000 | PA      | $2206024.54   | 0.15%             | 2032-01-14      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Bills                                    | U.S. Treasury Bills                                                               | CUSIP: 912797RP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  25200000 | PA      | $25159354.42  | 1.72%             | 2025-11-18      | None          | 0.00%                 | No            |                  2 | On Loan: —       |
| WOM Chile Holdco SpA                                   | WOM Chile Holdco SpA                                                              | CUSIP: 97810KAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CL        |    646550 | PA      | $575429.50    | 0.04%             | 2032-04-01      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                  | FHLMC, Series 4123                                                                | CUSIP: 3137AUXL8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    104003 | PA      | $1961.87      | 0.00%             | 2027-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Sanders Re III Ltd.                                    | Sanders Re III Ltd., Series A                                                     | CUSIP: 799927AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1250000 | PA      | $1321750.00   | 0.09%             | 2028-04-07      | Floating      | 9.44%                 | Yes           |                  2 | On Loan: No      |
| Sanders Re III Ltd.                                    | Sanders Re III Ltd., Series A                                                     | CUSIP: 799925AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $519500.00    | 0.04%             | 2026-06-05      | Floating      | 11.60%                | Yes           |                  2 | On Loan: No      |
| Elevance Health, Inc.                                  | Elevance Health, Inc.                                                             | CUSIP: 036752BK8<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   4615000 | PA      | $4596227.06   | 0.32%             | 2036-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortgage Trust                | Saluda Grade Alternative Mortgage Trust, Series 2024-RTL4, Class A1               | CUSIP: 79584CAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1210000 | PA      | $1216014.91   | 0.08%             | 2030-02-25      | Variable      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| BHG Securitization Trust                               | BHG Securitization Trust, Series 2024-1CON, Class C                               | CUSIP: 08862HAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1130000 | PA      | $1153513.72   | 0.08%             | 2035-04-17      | Fixed         | 6.86%                 | Yes           |                  2 | On Loan: No      |
| Citrus Re Ltd.                                         | Citrus Re Ltd., Series A                                                          | CUSIP: 177510AQ7<br>LEI: 549300VWWT5SE805NK88 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $516200.00    | 0.04%             | 2028-06-07      | Floating      | 11.63%                | Yes           |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                         | Carvana Auto Receivables Trust, Series 2024-N3, Class E                           | CUSIP: 14687WAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3614000 | PA      | $3605524.09   | 0.25%             | 2032-04-12      | Fixed         | 7.66%                 | Yes           |                  2 | On Loan: No      |
| Gateway Re Ltd.                                        | Gateway Re Ltd., Series A                                                         | CUSIP: 36779CAT3<br>LEI: 549300ZYFWQV9RCIN520 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $249125.00    | 0.02%             | 2025-12-22      | Floating      | 3.84%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                   | GNMA, Series 2016-108, Class QI                                                   | CUSIP: 38379YXW3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     89792 | PA      | $16899.74     | 0.00%             | 2046-08-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                   | GNMA, Series 2016-118, Class DS                                                   | CUSIP: 38380AUM7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     99349 | PA      | $12665.15     | 0.00%             | 2046-09-20      | Floating      | 1.95%                 | No            |                  2 | On Loan: No      |
| United Mexican States                                  | United Mexican States                                                             | CUSIP: 91087BBC3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   2250000 | PA      | $2437312.50   | 0.17%             | 2037-05-13      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| Citigroup, Inc.                                        | Citigroup, Inc., Series GG                                                        | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4720000 | PA      | $4863365.28   | 0.33%             | 2030-08-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Meiji Yasuda Life Insurance Co.                        | Meiji Yasuda Life Insurance Co.                                                   | CUSIP: 585270AE1<br>LEI: 549300SLU4LP6YMRLK07 | Long             | DBT              | CORP              | JP        |   9025000 | PA      | $9459445.45   | 0.65%             | 2055-06-11      | Variable      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                    | Connecticut Avenue Securities Trust, Series 2024-R04, Class 1A1                   | CUSIP: 20753GAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1959692 | PA      | $1962749.06   | 0.13%             | 2044-05-25      | Floating      | 5.18%                 | Yes           |                  2 | On Loan: No      |
| Veraison Re Ltd.                                       | Veraison Re Ltd., Series B                                                        | CUSIP: 92335TAE9<br>LEI: 2549007WYB39A966J434 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $252875.00    | 0.02%             | 2028-03-08      | Floating      | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                 | Santander Drive Auto Receivables Trust, Series 2024-5, Class D                    | CUSIP: 802920AG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2760000 | PA      | $2764708.84   | 0.19%             | 2032-02-17      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Herbie Re Ltd.                                         | Herbie Re Ltd., Series A                                                          | CUSIP: 42703VAJ2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $519050.00    | 0.04%             | 2029-01-08      | Floating      | 11.09%                | Yes           |                  2 | On Loan: No      |
| SoFi Consumer Loan Program Trust                       | SoFi Consumer Loan Program Trust, Series 2025-4, Class D                          | CUSIP: 83405UAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1990000 | PA      | $1991066.64   | 0.14%             | 2035-08-25      | Fixed         | 5.27%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                      | HSBC Holdings plc                                                                 | CUSIP: 404280EV7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   4985000 | PA      | $5185362.11   | 0.36%             | 2031-08-27      | Variable      | 6.95%                 | No            |                  2 | On Loan: —       |
| BNP Paribas SA                                         | BNP Paribas SA                                                                    | CUSIP: 05602XQQ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   5715000 | PA      | $5942328.64   | 0.41%             | 2035-06-27      | Variable      | 7.45%                 | Yes           |                  2 | On Loan: —       |
| Cape Lookout Re Ltd.                                   | Cape Lookout Re Ltd., Series A                                                    | CUSIP: 13947LAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1545450.00   | 0.11%             | 2026-04-28      | Floating      | 11.07%                | Yes           |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust           | American Credit Acceptance Receivables Trust, Series 2025-2, Class D              | CUSIP: 024938AG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2280000 | PA      | $2307207.01   | 0.16%             | 2031-07-14      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                    | Connecticut Avenue Securities Trust, Series 2025-R06, Class 1A1                   | CUSIP: 20754YAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3382346 | PA      | $3383408.53   | 0.23%             | 2045-09-25      | Floating      | 5.08%                 | Yes           |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                    | Exeter Automobile Receivables Trust, Series 2025-1A, Class E                      | CUSIP: 30167MAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7440000 | PA      | $7603883.11   | 0.52%             | 2032-09-15      | Fixed         | 7.48%                 | Yes           |                  2 | On Loan: No      |
| Macquarie Bank Ltd.                                    | Macquarie Bank Ltd.                                                               | CUSIP: 556079AG6<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | DBT              | CORP              | AU        |   6105000 | PA      | $6213766.74   | 0.43%             | 2036-08-13      | Variable      | 5.64%                 | Yes           |                  2 | On Loan: No      |
| Atlas Capital DAC                                      | Atlas Capital DAC, Series 2025                                                    | CUSIP: 049207AC7<br>LEI: 635400CBPJFGGWD2AH20 | Long             | DBT              | CORP              | IE        |    500000 | PA      | $516950.00    | 0.04%             | 2028-06-07      | Floating      | 11.44%                | Yes           |                  2 | On Loan: No      |
| Galileo Re Ltd.                                        | Galileo Re Ltd., Series B                                                         | CUSIP: 36354TAP7<br>LEI: 549300MXI75DHMS7JH38 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $252250.00    | 0.02%             | 2026-01-08      | Floating      | 10.97%                | Yes           |                  2 | On Loan: No      |
| CNO Financial Group, Inc.                              | CNO Financial Group, Inc.                                                         | CUSIP: 12621EAM5<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | DBT              | CORP              | US        |   9381000 | PA      | $9954999.94   | 0.68%             | 2034-06-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: —       |
| Oaktown Re VII Ltd.                                    | Oaktown Re VII Ltd., Series 2021-2, Class B1                                      | CUSIP: 67389JAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |   1050000 | PA      | $1069764.57   | 0.07%             | 2034-04-25      | Floating      | 8.58%                 | Yes           |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                              | Towd Point Mortgage Trust, Series 2022-SJ1, Class B1                              | CUSIP: 89180GAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1820000 | PA      | $1792611.91   | 0.12%             | 2062-03-25      | Variable      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                             | Verus Securitization Trust, Series 2023-3, Class B2                               | CUSIP: 92539GAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5590000 | PA      | $5579969.30   | 0.38%             | 2068-03-25      | Variable      | 7.72%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                         | Morgan Stanley                                                                    | CUSIP: 61747YFM2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1110000 | PA      | $1165076.14   | 0.08%             | 2039-02-07      | Variable      | 5.94%                 | No            |                  2 | On Loan: —       |
| UniCredit SpA                                          | UniCredit SpA                                                                     | CUSIP: 904678AF6<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |   2260000 | PA      | $2297119.44   | 0.16%             | 2032-06-19      | Variable      | 5.86%                 | Yes           |                  2 | On Loan: No      |
| Palm RE Ltd.                                           | Palm RE Ltd., Series A                                                            | CUSIP: 69664FAB4<br>LEI: 984500D3C66DA10DAP11 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $529950.00    | 0.04%             | 2028-06-07      | Floating      | 11.59%                | Yes           |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                 | Velocity Commercial Capital Loan Trust, Series 2025-1, Class A                    | CUSIP: 922955AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1596038 | PA      | $1614492.80   | 0.11%             | 2055-02-25      | Variable      | 6.03%                 | Yes           |                  2 | On Loan: No      |
| Standard Chartered plc                                 | Standard Chartered plc                                                            | CUSIP: 853254CZ1<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   2000000 | PA      | $2147464.92   | 0.15%             | 2035-01-11      | Variable      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| AutoNation, Inc.                                       | AutoNation, Inc.                                                                  | CUSIP: 05329WAT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5740000 | PA      | $5926542.08   | 0.41%             | 2035-03-15      | Fixed         | 5.89%                 | No            |                  2 | On Loan: —       |
| NatWest Group plc                                      | NatWest Group plc                                                                 | CUSIP: 639057AQ1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    925000 | PA      | $1041786.80   | 0.07%             | 2033-11-10      | Variable      | 8.12%                 | No            |                  2 | On Loan: —       |
| Residential Reinsurance 2023 Ltd.                      | Residential Reinsurance 2023 Ltd., Series 3                                       | CUSIP: 76090WAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    250000 | PA      | $266375.00    | 0.02%             | 2027-12-06      | Floating      | 12.54%                | Yes           |                  2 | On Loan: No      |
| N/A                                                    | Euro-Bobl                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |        -6 | NC      | $-3412.12     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Residential Reinsurance 2023 Ltd.                      | Residential Reinsurance 2023 Ltd., Series 5                                       | CUSIP: 76090WAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    750000 | PA      | $796650.00    | 0.05%             | 2027-12-06      | Floating      | 9.81%                 | Yes           |                  2 | On Loan: No      |
| Gateway Re Ltd.                                        | Gateway Re Ltd., Series AA                                                        | CUSIP: 36779CAG1<br>LEI: 549300ZYFWQV9RCIN520 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $260575.00    | 0.02%             | 2027-07-08      | Floating      | 9.74%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                             | Verus Securitization Trust, Series 2024-1, Class B1                               | CUSIP: 92540EAE3<br>LEI: 984500A3F1D749452747 | Long             | ABS-MBS          | CORP              | US        |    655000 | PA      | $665042.53    | 0.05%             | 2069-01-25      | Variable      | 7.91%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                  | FHLMC STACR Debt Notes, Series 2017-HRP1, Class B1D                               | CUSIP: 3137G0SK6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1560000 | PA      | $1609621.73   | 0.11%             | 2042-12-25      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| FNMA                                                   | FNMA, Series 2009-31, Class PI                                                    | CUSIP: 31397ND85<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4345 | PA      | $30.19        | 0.00%             | 2038-11-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Element Fleet Management Corp.                         | Element Fleet Management Corp.                                                    | CUSIP: 286181AP7<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |   5705000 | PA      | $5827142.57   | 0.40%             | 2030-03-25      | Fixed         | 5.04%                 | Yes           |                  2 | On Loan: No      |
| Summit Midstream Holdings LLC                          | Summit Midstream Holdings LLC                                                     | CUSIP: 86614JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4395000 | PA      | $4470906.05   | 0.31%             | 2029-10-31      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: —       |
| Hyundai Capital America                                | Hyundai Capital America                                                           | CUSIP: 44891AEA1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   2855000 | PA      | $2849111.71   | 0.20%             | 2030-09-18      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                    | Connecticut Avenue Securities Trust, Series 2024-R02, Class 1B1                   | CUSIP: 20754GAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1720000 | PA      | $1759544.35   | 0.12%             | 2044-02-25      | Floating      | 6.68%                 | Yes           |                  2 | On Loan: No      |
| Genting New York LLC                                   | Genting New York LLC                                                              | CUSIP: 37255JAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3280000 | PA      | $3395786.66   | 0.23%             | 2029-10-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: —       |
| Cascade MH Asset Trust                                 | Cascade MH Asset Trust, Series 2022-MH1, Class B1                                 | CUSIP: 14732KAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3037847 | PA      | $2701588.88   | 0.19%             | 2054-08-25      | Variable      | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Acorn Re Ltd.                                          | Acorn Re Ltd., Series A                                                           | CUSIP: 00485YAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $510800.00    | 0.04%             | 2027-11-05      | Floating      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                   | JPMorgan Chase & Co.                                                              | CUSIP: 46647PEY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3075000 | PA      | $3176082.23   | 0.22%             | 2031-04-22      | Variable      | 5.10%                 | No            |                  2 | On Loan: —       |
| Research-Driven Pagaya Motor Asset Trust               | Research-Driven Pagaya Motor Asset Trust, Series 2025-3A, Class A2                | CUSIP: 76090QAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6040000 | PA      | $6054637.94   | 0.42%             | 2034-02-27      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| WOM Mobile SA                                          | WOM Mobile SA                                                                     | CUSIP: N/A<br>LEI: 549300T600VUO0QJ3063       | Long             | EC               | CORP              | CL        |      1018 | NS      | $15270.00     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Huntington Bank Auto Credit-Linked Notes               | Huntington Bank Auto Credit-Linked Notes, Series 2024-1, Class D                  | CUSIP: 44644NAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    232538 | PA      | $237404.05    | 0.02%             | 2032-05-20      | Floating      | 9.43%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                             | Verus Securitization Trust, Series 2023-4, Class B1                               | CUSIP: 92539TAE3<br>LEI: 2138008DC17PCNG48R87 | Long             | ABS-MBS          | CORP              | US        |   2530000 | PA      | $2539079.41   | 0.17%             | 2068-05-25      | Variable      | 8.06%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Co.                                         | Ford Motor Co.                                                                    | CUSIP: 345370DB3<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    210000 | PA      | $215647.97    | 0.01%             | 2032-08-19      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                  | FHLMC STACR REMIC Trust, Series 2023-DNA2, Class M1A                              | CUSIP: 35564KT58<br>LEI: 5493000IRI80KQJUNK40 | Long             | ABS-MBS          | CORP              | US        |   1293004 | PA      | $1311146.00   | 0.09%             | 2043-04-25      | Floating      | 6.29%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                | Level 3 Financing, Inc.                                                           | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   5310000 | PA      | $5438963.97   | 0.37%             | 2033-06-30      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: —       |
| International Bank for Reconstruction & Development    | International Bank for Reconstruction & Development, Series C                     | CUSIP: N/A<br>LEI: ZTMSNXROF84AHWJNKQ93       | Long             | DBT              | NUSS              | US        |    250000 | PA      | $273000.00    | 0.02%             | 2028-04-24      | Floating      | 17.96%                | Yes           |                  2 | On Loan: No      |
| Bonanza RE Ltd.                                        | Bonanza RE Ltd., Series C                                                         | CUSIP: 09785EAQ4<br>LEI: 5493003F0CXUQ2C83105 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $515950.00    | 0.04%             | 2027-12-19      | Floating      | 9.36%                 | Yes           |                  2 | On Loan: No      |
| Bluebonnet RE Ltd.                                     | Bluebonnet RE Ltd., Series B                                                      | CUSIP: 09610NAB8<br>LEI: 2549007DQLA6K2ACFN15 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $267775.00    | 0.02%             | 2028-06-07      | Floating      | 12.37%                | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.         | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class A          | CUSIP: 03880RAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    762303 | PA      | $763621.33    | 0.05%             | 2036-11-15      | Floating      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                    | Euro-Bund                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |       -21 | NC      | $-39868.77    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| FS Rialto Issuer LLC                                   | FS Rialto Issuer LLC, Series 2024-FL9, Class A                                    | CUSIP: 30338WAL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3320000 | PA      | $3339281.23   | 0.23%             | 2039-10-19      | Floating      | 5.66%                 | Yes           |                  2 | On Loan: No      |
| Kendall Re Ltd.                                        | Kendall Re Ltd., Series A                                                         | CUSIP: 48878QAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $525800.00    | 0.04%             | 2027-04-30      | Floating      | 10.13%                | Yes           |                  2 | On Loan: No      |
| HTL Commercial Mortgage Trust                          | HTL Commercial Mortgage Trust, Series 2024-T53, Class D                           | CUSIP: 404300AG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2880000 | PA      | $2947716.29   | 0.20%             | 2039-05-10      | Variable      | 8.20%                 | Yes           |                  2 | On Loan: No      |
| Delek Logistics Partners LP                            | Delek Logistics Partners LP                                                       | CUSIP: 24665FAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5840000 | PA      | $6095371.52   | 0.42%             | 2029-03-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: —       |
| Matterhorn Re Ltd.                                     | Matterhorn Re Ltd., Series 2021                                                   | CUSIP: 577092AN9<br>LEI: 549300QRZ77PO1BYWT39 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $501250.00    | 0.03%             | 2025-12-08      | Floating      | 9.82%                 | Yes           |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                           | Avolon Holdings Funding Ltd.                                                      | CUSIP: 05401AAZ4<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   1650000 | PA      | $1693273.63   | 0.12%             | 2030-05-30      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Ready Capital Mortgage Financing LLC                   | Ready Capital Mortgage Financing LLC, Series 2021-FL7, Class B                    | CUSIP: 75575WAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1150000 | PA      | $1145787.55   | 0.08%             | 2036-11-25      | Floating      | 5.91%                 | Yes           |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                     | General Motors Financial Co., Inc.                                                | CUSIP: 37045XFC5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   6510000 | PA      | $6781610.15   | 0.46%             | 2035-01-07      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| N/A                                                    | U.S. Treasury 10 Year Note                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -708 | NC      | $-379338.87   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Aker BP ASA                                            | Aker BP ASA                                                                       | CUSIP: 00973RAQ6<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |   4890000 | PA      | $4808601.35   | 0.33%             | 2035-10-30      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Merna Re Enterprise Ltd.                               | Merna Re Enterprise Ltd., Series A.                                               | CUSIP: 59013HAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $520300.00    | 0.04%             | 2028-07-07      | Floating      | 11.59%                | Yes           |                  2 | On Loan: No      |
| FHLMC STACR Trust                                      | FHLMC STACR Trust, Series 2018-HQA2, Class B2                                     | CUSIP: 35563XBE1<br>LEI: 5493005RUXPCBST1N217 | Long             | ABS-MBS          | CORP              | US        |   2050000 | PA      | $2566243.51   | 0.18%             | 2048-10-25      | Floating      | 15.30%                | Yes           |                  2 | On Loan: No      |
| NMEF Funding LLC                                       | NMEF Funding LLC, Series 2024-A, Class C                                          | CUSIP: 62919UAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1330000 | PA      | $1358673.47   | 0.09%             | 2031-12-15      | Fixed         | 6.33%                 | Yes           |                  2 | On Loan: No      |
| BHG Securitization Trust                               | BHG Securitization Trust, Series 2023-B, Class C                                  | CUSIP: 08862GAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1440000 | PA      | $1502379.94   | 0.10%             | 2036-12-17      | Fixed         | 8.15%                 | Yes           |                  2 | On Loan: No      |
| Torrey Pines Re Ltd.                                   | Torrey Pines Re Ltd., Series B                                                    | CUSIP: 89141WAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $258675.00    | 0.02%             | 2028-06-07      | Floating      | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Borr IHC Ltd.                                          | Borr IHC Ltd.                                                                     | CUSIP: 100018AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    342744 | PA      | $342767.48    | 0.02%             | 2028-11-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: —       |
| GLS Auto Receivables Issuer Trust                      | GLS Auto Receivables Issuer Trust, Series 2021-4A, Class E                        | CUSIP: 36263DAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2360000 | PA      | $2321144.25   | 0.16%             | 2028-10-16      | Fixed         | 4.43%                 | Yes           |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                    | Exeter Automobile Receivables Trust, Series 2024-4A, Class E                      | CUSIP: 30166UAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5270000 | PA      | $5439477.93   | 0.37%             | 2032-02-17      | Fixed         | 7.65%                 | Yes           |                  2 | On Loan: No      |
| Tricon American Homes                                  | Tricon American Homes, Series 2020-SFR1, Class F                                  | CUSIP: 89613GAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    570000 | PA      | $566510.57    | 0.04%             | 2038-07-17      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Four Lakes Re Ltd.                                     | Four Lakes Re Ltd., Series B                                                      | CUSIP: 35087TAF5<br>LEI: 549300MG4RRU6DT7MN54 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $258150.00    | 0.02%             | 2027-01-07      | Floating      | 12.92%                | Yes           |                  2 | On Loan: No      |
| Oceanside RE Ltd.                                      | Oceanside RE Ltd., Series A                                                       | CUSIP: 67550LAA4<br>LEI: 984500636DB8E52F9958 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $257725.00    | 0.02%             | 2028-05-15      | Floating      | 9.84%                 | Yes           |                  2 | On Loan: No      |
| Integrity RE III Ltd.                                  | Integrity RE III Ltd., Series A-2                                                 | CUSIP: 45870GAB2<br>LEI: 254900VWHVNG2WMBWC74 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $523600.00    | 0.04%             | 2028-06-06      | Floating      | 11.85%                | Yes           |                  2 | On Loan: No      |
| HTL Commercial Mortgage Trust                          | HTL Commercial Mortgage Trust, Series 2024-T53, Class C                           | CUSIP: 404300AE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1590000 | PA      | $1617900.84   | 0.11%             | 2039-05-10      | Variable      | 7.09%                 | Yes           |                  2 | On Loan: No      |
| STACR Trust                                            | STACR Trust, Series 2018-HRP2, Class B2                                           | CUSIP: 35564ACC3<br>LEI: 549300YG8OJES76WL398 | Long             | ABS-MBS          | CORP              | US        |   1380000 | PA      | $1682868.60   | 0.12%             | 2047-02-25      | Floating      | 14.80%                | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                             | Verus Securitization Trust, Series 2023-6, Class B1                               | CUSIP: 92539XAE4<br>LEI: 984500915DDB7T2ACA27 | Long             | ABS-MBS          | CORP              | US        |   1529000 | PA      | $1542395.42   | 0.11%             | 2068-09-25      | Variable      | 7.78%                 | Yes           |                  2 | On Loan: No      |
| FHLMC STACR REMIC Trust                                | FHLMC STACR REMIC Trust, Series 2020-DNA6, Class B2                               | CUSIP: 35566CBE4<br>LEI: 5493000ITBQFEOXM0S98 | Long             | ABS-MBS          | CORP              | US        |    790000 | PA      | $911914.54    | 0.06%             | 2050-12-25      | Floating      | 9.83%                 | Yes           |                  2 | On Loan: No      |
| Resorts World Las Vegas LLC                            | Resorts World Las Vegas LLC                                                       | CUSIP: 76120HAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1193478.02   | 0.08%             | 2031-04-06      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                             | Verus Securitization Trust, Series 2023-7, Class B1                               | CUSIP: 92539YAE2<br>LEI: 213800W65K5FH3AI2J91 | Long             | ABS-MBS          | CORP              | US        |   1090000 | PA      | $1101925.69   | 0.08%             | 2068-10-25      | Variable      | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Lottomatica Group Spa                                  | Lottomatica Group Spa                                                             | CUSIP: N/A<br>LEI: 549300R72LKEGT4EX026       | Long             | DBT              | CORP              | IT        |   4355000 | PA      | $5179180.20   | 0.36%             | 2031-01-31      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                | Talen Energy Supply LLC                                                           | CUSIP: 87422VAN8<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |   3530000 | PA      | $3656032.47   | 0.25%             | 2036-02-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Hundred Acre Wood Trust                                | Hundred Acre Wood Trust, Series 2021-INV1, Class AX1                              | CUSIP: 44590HBJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13469536 | PA      | $172457.21    | 0.01%             | 2051-07-25      | Variable      | 0.23%                 | Yes           |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes                | Santander Bank Auto Credit-Linked Notes, Series 2024-A, Class F                   | CUSIP: 80290CCN2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    967943 | PA      | $984415.51    | 0.07%             | 2032-06-15      | Fixed         | 10.17%                | Yes           |                  2 | On Loan: No      |
| Gateway Re Ltd.                                        | Gateway Re Ltd., Series AA                                                        | CUSIP: 36779CAP1<br>LEI: 549300ZYFWQV9RCIN520 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $248750.00    | 0.02%             | 2025-12-22      | Floating      | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Oaktown Re VI Ltd.                                     | Oaktown Re VI Ltd., Series 2021-1A, Class B1                                      | CUSIP: 67401FAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |    350000 | PA      | $356311.06    | 0.02%             | 2033-10-25      | Floating      | 9.68%                 | Yes           |                  2 | On Loan: No      |
| Truist Bank                                            | Truist Bank                                                                       | CUSIP: 89788JAH2<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |  10760000 | PA      | $10717600.87  | 0.73%             | 2029-10-23      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| Ascent Career Funding Trust                            | Ascent Career Funding Trust, Series 2024-1A, Class A                              | CUSIP: 04363LAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1875847 | PA      | $1887620.51   | 0.13%             | 2032-10-25      | Fixed         | 6.77%                 | Yes           |                  2 | On Loan: No      |
| FS Rialto                                              | FS Rialto, Series 2021-FL3, Class A                                               | CUSIP: 30323CAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1307803 | PA      | $1308092.96   | 0.09%             | 2036-11-16      | Floating      | 5.40%                 | Yes           |                  2 | On Loan: No      |
| Kilimanjaro II Re Ltd.                                 | Kilimanjaro II Re Ltd., Series D-2                                                | CUSIP: 49407QAR9<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1250000 | PA      | $1308125.00   | 0.09%             | 2030-07-08      | Floating      | 10.34%                | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                    | Connecticut Avenue Securities Trust, Series 2022-R02, Class 2M2                   | CUSIP: 20754BAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    330000 | PA      | $337336.56    | 0.02%             | 2042-01-25      | Floating      | 7.18%                 | Yes           |                  2 | On Loan: No      |
| Woodside Finance Ltd.                                  | Woodside Finance Ltd.                                                             | CUSIP: 980236AV5<br>LEI: 254900AIZKU6TGRRNZ98 | Long             | DBT              | CORP              | AU        |   3750000 | PA      | $3920684.63   | 0.27%             | 2035-05-19      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Purple Re Ltd.                                         | Purple Re Ltd., Series A                                                          | CUSIP: 74639NAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $265800.00    | 0.02%             | 2028-06-07      | Floating      | 11.09%                | Yes           |                  2 | On Loan: No      |
| Minerva Luxembourg SA                                  | Minerva Luxembourg SA                                                             | CUSIP: 603374AF6<br>LEI: 222100NM3G3RCPGZ2Z17 | Long             | DBT              | CORP              | LU        |   3725000 | PA      | $3433307.17   | 0.24%             | 2031-03-18      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| 3264 re Ltd.                                           | 3264 re Ltd., Series A                                                            | CUSIP: 88577CAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $264225.00    | 0.02%             | 2027-07-08      | Floating      | 10.87%                | Yes           |                  2 | On Loan: No      |
| RCKTL                                                  | RCKTL, Series 2025-2A, Class D                                                    | CUSIP: 74939HAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4849000 | PA      | $4850439.18   | 0.33%             | 2034-11-27      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                    | U.S. Treasury Long Bond                                                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -197 | NC      | $-602238.06   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Gateway Re Ltd.                                        | Gateway Re Ltd., Series A                                                         | CUSIP: 36779CAF3<br>LEI: 549300ZYFWQV9RCIN520 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $528500.00    | 0.04%             | 2026-07-08      | Floating      | 14.76%                | Yes           |                  2 | On Loan: No      |
| Corp. Nacional del Cobre de Chile                      | Corp. Nacional del Cobre de Chile                                                 | CUSIP: 21987BBM9<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | NUSS              | CL        |   3275000 | PA      | $3581212.50   | 0.25%             | 2055-01-13      | Fixed         | 6.78%                 | Yes           |                  2 | On Loan: —       |
| Transocean International Ltd.                          | Transocean International Ltd.                                                     | CUSIP: 893830AT6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |   6200000 | PA      | $5434972.08   | 0.37%             | 2038-03-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Ventas Realty LP                                       | Ventas Realty LP                                                                  | CUSIP: 92277GBB2<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2819275.14   | 0.19%             | 2032-07-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: —       |
| FHLMC                                                  | FHLMC Seasoned Credit Risk Transfer Trust, Series 2020-2, Class M                 | CUSIP: 35563PRE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    488080 | PA      | $471437.15    | 0.03%             | 2059-11-25      | Variable      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| RCKT Mortgage Trust                                    | RCKT Mortgage Trust, Series 2025-CES6, Class A1A                                  | CUSIP: 748949AA2<br>LEI: 2549002LEW4WNQBOMB89 | Long             | ABS-MBS          | CORP              | US        |   5547749 | PA      | $5597117.12   | 0.38%             | 2055-06-25      | Variable      | 5.47%                 | Yes           |                  2 | On Loan: No      |
| Multifamily Connecticut Avenue Securities Trust        | Multifamily Connecticut Avenue Securities Trust, Series 2019-01, Class M10        | CUSIP: 62547NAB5<br>LEI: 549300HG8ZEWVWVSN227 | Long             | ABS-MBS          | CORP              | US        |    730934 | PA      | $741749.31    | 0.05%             | 2049-10-25      | Floating      | 7.55%                 | Yes           |                  2 | On Loan: No      |
| CoreWeave, Inc.                                        | CoreWeave, Inc.                                                                   | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |   5725000 | PA      | $5741745.63   | 0.39%             | 2031-02-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: —       |
| Verus Securitization Trust                             | Verus Securitization Trust, Series 2023-5, Class B2                               | CUSIP: 924934AF9<br>LEI: 984500BADC7CFE3B0756 | Long             | ABS-MBS          | CORP              | US        |   1240000 | PA      | $1243751.25   | 0.09%             | 2068-06-25      | Variable      | 7.99%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial, Inc.                                   | Ally Financial, Inc.                                                              | CUSIP: 02005NBU3<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    445000 | PA      | $469408.77    | 0.03%             | 2030-01-03      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| VRTX Trust                                             | VRTX Trust, Series 2025-HQ, Class C                                               | CUSIP: 91835XAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $1268768.50   | 0.09%             | 2042-08-05      | Variable      | 5.92%                 | Yes           |                  2 | On Loan: No      |
| African Export-Import Bank (The)                       | African Export-Import Bank (The)                                                  | CUSIP: 008281BK2<br>LEI: 549300LNCLMO3ITVCU07 | Long             | DBT              | NUSS              | US        |  10128000 | PA      | $10111467.86  | 0.69%             | 2035-05-07      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| Meta Platforms, Inc.                                   | Meta Platforms, Inc.                                                              | CUSIP: 30303M8Y1<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   5555000 | PA      | $5508485.76   | 0.38%             | 2065-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC               | Avis Budget Rental Car Funding AESOP LLC, Series 2024-1A, Class C                 | CUSIP: 05377RJA3<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    610000 | PA      | $633005.05    | 0.04%             | 2030-06-20      | Fixed         | 6.48%                 | Yes           |                  2 | On Loan: No      |
| Kilimanjaro II Re Ltd.                                 | Kilimanjaro II Re Ltd., Series C-2                                                | CUSIP: 49407QAQ1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1250000 | PA      | $1297375.00   | 0.09%             | 2030-07-08      | Floating      | 7.85%                 | Yes           |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                               | COLT Mortgage Loan Trust, Series 2024-6, Class B1                                 | CUSIP: 19688XAE6<br>LEI: 213800U2X2TO1PQH1O75 | Long             | ABS-MBS          | CORP              | US        |   2337000 | PA      | $2378280.30   | 0.16%             | 2069-11-25      | Variable      | 7.49%                 | Yes           |                  2 | On Loan: No      |
| Alamo Re Ltd.                                          | Alamo Re Ltd., Series B                                                           | CUSIP: 011395AP5<br>LEI: 5493003E22VRD25G0S03 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $268600.00    | 0.02%             | 2027-06-07      | Floating      | 12.30%                | Yes           |                  2 | On Loan: No      |
| Eagle RE Ltd.                                          | Eagle RE Ltd., Series 2021-2, Class M2                                            | CUSIP: 26982AAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |   1370000 | PA      | $1406407.20   | 0.10%             | 2034-04-25      | Floating      | 8.43%                 | Yes           |                  2 | On Loan: No      |
| MF1 Ltd.                                               | MF1 Ltd., Series 2021-FL7, Class A                                                | CUSIP: 55284AAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3593264 | PA      | $3594436.44   | 0.25%             | 2036-10-16      | Floating      | 5.22%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                              | Ford Motor Credit Co. LLC                                                         | CUSIP: 345397H48<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1460000 | PA      | $1480678.74   | 0.10%             | 2030-09-05      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                             | Verus Securitization Trust, Series 2023-INV3, Class B2                            | CUSIP: 92540CAF4<br>LEI: 9845008F97BFO762AF95 | Long             | ABS-MBS          | CORP              | US        |   2210000 | PA      | $2217567.92   | 0.15%             | 2068-11-25      | Variable      | 8.18%                 | Yes           |                  2 | On Loan: No      |
| International Bank for Reconstruction & Development    | International Bank for Reconstruction & Development, Series A                     | CUSIP: N/A<br>LEI: ZTMSNXROF84AHWJNKQ93       | Long             | DBT              | NUSS              | US        |    250000 | PA      | $256825.00    | 0.02%             | 2028-04-24      | Floating      | 8.26%                 | Yes           |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                                | Flagstar Mortgage Trust, Series 2021-4, Class AX1                                 | CUSIP: 33852FBA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  38041024 | PA      | $466485.66    | 0.03%             | 2051-06-01      | Variable      | 0.20%                 | Yes           |                  2 | On Loan: No      |
| Mayflower Re Ltd.                                      | Mayflower Re Ltd., Series B                                                       | CUSIP: 57839MAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $518450.00    | 0.04%             | 2026-07-08      | Floating      | 10.38%                | Yes           |                  2 | On Loan: No      |
| Enel Finance International NV                          | Enel Finance International NV                                                     | CUSIP: 29278GAX6<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   1915000 | PA      | $1949928.59   | 0.13%             | 2032-06-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: —       |
| BDS LLC                                                | BDS LLC, Series 2024-FL13, Class A                                                | CUSIP: 05555MAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1370000 | PA      | $1376613.40   | 0.09%             | 2039-09-19      | Floating      | 5.61%                 | Yes           |                  2 | On Loan: No      |
| CF SECURED LLC                                         | Treasury Repurchase Agreement                                                     | CUSIP: N/A<br>LEI: 254900OXTV81I73FAT50       | Long             | RA               | CORP              | US        |  38748390 | PA      | $38748390.50  | 2.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                    | Connecticut Avenue Securities Trust, Series 2021-R01, Class 1B2                   | CUSIP: 20754RAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6401143 | PA      | $6653220.01   | 0.46%             | 2041-10-25      | Floating      | 10.18%                | Yes           |                  2 | On Loan: No      |
| Farmers Exchange Capital III                           | Farmers Exchange Capital III                                                      | CUSIP: 30958QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3270000 | PA      | $3054289.87   | 0.21%             | 2054-10-15      | Variable      | 5.45%                 | Yes           |                  2 | On Loan: No      |
| Amkor Technology, Inc.                                 | Amkor Technology, Inc.                                                            | CUSIP: 031652BL3<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |    865000 | PA      | $879948.07    | 0.06%             | 2033-10-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: —       |
| J.P. Morgan Chase Commercial Mortgage Securities Trust | J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2024-OMNI, Class D | CUSIP: 46593JAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $259044.94    | 0.02%             | 2039-10-05      | Variable      | 5.80%                 | Yes           |                  2 | On Loan: No      |
| Long Point Re IV Ltd.                                  | Long Point Re IV Ltd., Series 2022                                                | CUSIP: 54279PAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $253625.00    | 0.02%             | 2026-06-01      | Floating      | 8.13%                 | Yes           |                  2 | On Loan: No      |
| Blue Ridge Re Ltd.                                     | Blue Ridge Re Ltd., Series B                                                      | CUSIP: 096003AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $264375.00    | 0.02%             | 2027-01-08      | Floating      | 11.86%                | Yes           |                  2 | On Loan: No      |
| LoanCore Issuer Ltd.                                   | LoanCore Issuer Ltd., Series 2022-CRE7, Class A                                   | CUSIP: 53946PAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    780053 | PA      | $780053.03    | 0.05%             | 2037-01-17      | Floating      | 5.74%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                  | OneMain Finance Corp.                                                             | CUSIP: 682691AM2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   6835000 | PA      | $6821234.86   | 0.47%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| BHG Securitization Trust                               | BHG Securitization Trust, Series 2022-C, Class E                                  | CUSIP: 08860DAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3280000 | PA      | $3529070.74   | 0.24%             | 2035-10-17      | Fixed         | 9.73%                 | Yes           |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                               | COLT Mortgage Loan Trust, Series 2025-5, Class B1                                 | CUSIP: 19689AAE5<br>LEI: 213800S6EGXVNRKXHN58 | Long             | ABS-MBS          | CORP              | US        |   2200000 | PA      | $2238342.70   | 0.15%             | 2070-05-25      | Variable      | 7.44%                 | Yes           |                  2 | On Loan: No      |
| Sanders RE II Ltd.                                     | Sanders RE II Ltd., Series A-2                                                    | CUSIP: 80001TAB3<br>LEI: 254900VRQU0N0MF3CT92 | Long             | DBT              | CORP              | BM        |    400000 | PA      | $420440.00    | 0.03%             | 2030-04-08      | Floating      | 8.10%                 | Yes           |                  2 | On Loan: No      |
| VRTX Trust                                             | VRTX Trust, Series 2025-HQ, Class D                                               | CUSIP: 91835XAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    620000 | PA      | $627847.46    | 0.04%             | 2042-08-05      | Variable      | 6.60%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                   | GNMA, Series 2016-20, Class SB                                                    | CUSIP: 38379VDM3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     80226 | PA      | $10342.26     | 0.00%             | 2046-02-20      | Floating      | 1.95%                 | No            |                  2 | On Loan: No      |
| FHLMC STACR Trust                                      | FHLMC STACR Trust, Series 2019-DNA3, Class B2                                     | CUSIP: 35564TBE9<br>LEI: 549300KB1O80CETXGJ21 | Long             | ABS-MBS          | CORP              | US        |    720000 | PA      | $812225.02    | 0.06%             | 2049-07-25      | Floating      | 12.45%                | Yes           |                  2 | On Loan: No      |
| MC Brazil Downstream Trading SARL                      | MC Brazil Downstream Trading SARL                                                 | CUSIP: 55292WAA8<br>LEI: 213800T2A7R9TYNXZI63 | Long             | DBT              | CORP              | LU        |    985186 | PA      | $809477.72    | 0.06%             | 2031-06-30      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Kilimanjaro II Re Ltd.                                 | Kilimanjaro II Re Ltd., Series D-1                                                | CUSIP: 49407QAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1042400.00   | 0.07%             | 2029-07-09      | Floating      | 10.34%                | Yes           |                  2 | On Loan: No      |
| Algonquin Power & Utilities Corp.                      | Algonquin Power & Utilities Corp.                                                 | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |    705000 | PA      | $691723.37    | 0.05%             | 2082-01-18      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Enbridge, Inc.                                         | Enbridge, Inc.                                                                    | CUSIP: 29250NBT1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    928000 | PA      | $1066955.01   | 0.07%             | 2084-01-15      | Variable      | 8.50%                 | No            |                  2 | On Loan: —       |
| Danaos Corp.                                           | Danaos Corp.                                                                      | CUSIP: 23585WAC8<br>LEI: 734IM3DNDNT36T7YTD24 | Long             | DBT              | CORP              | MH        |   5725000 | PA      | $5629787.35   | 0.39%             | 2032-10-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: —       |
| Matterhorn Re Ltd.                                     | Matterhorn Re Ltd., Series A                                                      | CUSIP: 577092AZ2<br>LEI: 549300QRZ77PO1BYWT39 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $251400.00    | 0.02%             | 2028-09-22      | Floating      | 6.34%                 | Yes           |                  2 | On Loan: No      |
| MCR Mortgage Trust                                     | MCR Mortgage Trust, Series 2024-TWA, Class D                                      | CUSIP: 582923AD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2600000 | PA      | $2633398.56   | 0.18%             | 2039-06-12      | Fixed         | 7.40%                 | Yes           |                  2 | On Loan: No      |
| MF1                                                    | MF1, Series 2024-FL16, Class A                                                    | CUSIP: 55287EAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5150000 | PA      | $5171994.11   | 0.35%             | 2039-11-18      | Floating      | 5.57%                 | Yes           |                  2 | On Loan: No      |
| Kilimanjaro II Re Ltd.                                 | Kilimanjaro II Re Ltd., Series A                                                  | CUSIP: 49407QAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1045600.00   | 0.07%             | 2028-06-30      | Floating      | 10.13%                | Yes           |                  2 | On Loan: No      |
| N/A                                                    | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $546928.02    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Home RE Ltd.                                           | Home RE Ltd., Series 2023-1, Class M1B                                            | CUSIP: 43731BAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |    441360 | PA      | $452737.64    | 0.03%             | 2033-10-25      | Floating      | 8.78%                 | Yes           |                  2 | On Loan: No      |
| Torrey Pines Re Ltd.                                   | Torrey Pines Re Ltd., Series B                                                    | CUSIP: 89141WAJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $260300.00    | 0.02%             | 2027-06-07      | Floating      | 11.00%                | Yes           |                  2 | On Loan: No      |
| Standard Chartered plc                                 | Standard Chartered plc                                                            | CUSIP: 85325C2E1<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   2550000 | PA      | $2775411.87   | 0.19%             | 2036-01-21      | Variable      | 6.23%                 | Yes           |                  2 | On Loan: —       |
| PRKCM Trust                                            | PRKCM Trust, Series 2023-AFC3, Class B1                                           | CUSIP: 693984AE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    870000 | PA      | $876337.34    | 0.06%             | 2058-09-25      | Variable      | 7.76%                 | Yes           |                  2 | On Loan: No      |
| Radnor Re Ltd.                                         | Radnor Re Ltd., Series 2024-1, Class M1A                                          | CUSIP: 75049AAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    324761 | PA      | $324946.46    | 0.02%             | 2034-09-25      | Floating      | 6.18%                 | Yes           |                  2 | On Loan: No      |
| Octane Receivables Trust                               | Octane Receivables Trust, Series 2023-1A, Class D                                 | CUSIP: 67571BAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1554471.30   | 0.11%             | 2030-03-20      | Fixed         | 7.76%                 | Yes           |                  2 | On Loan: No      |
| ACREC Ltd.                                             | ACREC Ltd., Series 2021-FL1, Class A                                              | CUSIP: 00500RAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    774550 | PA      | $774385.88    | 0.05%             | 2036-10-16      | Floating      | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortgage Trust                | Saluda Grade Alternative Mortgage Trust, Series 2025-LOC4, Class A1A              | CUSIP: 79589VAN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4102794 | PA      | $4109550.53   | 0.28%             | 2055-06-25      | Floating      | 5.93%                 | Yes           |                  2 | On Loan: No      |
| Bayview Opportunity Master Fund VII LLC                | Bayview Opportunity Master Fund VII LLC, Series 2024-EDU1, Class D                | CUSIP: 07336PAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    718753 | PA      | $724774.14    | 0.05%             | 2047-06-25      | Floating      | 6.93%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                      | GLS Auto Receivables Issuer Trust, Series 2025-2A, Class E                        | CUSIP: 37989BAN2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1510000 | PA      | $1561049.78   | 0.11%             | 2032-06-15      | Fixed         | 7.73%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                  | FHLMC STACR REMIC Trust, Series 2021-DNA6, Class B2                               | CUSIP: 35564KLV9<br>LEI: 5493000ISONLNOUKGB71 | Long             | ABS-MBS          | CORP              | US        |   1720000 | PA      | $1811797.26   | 0.12%             | 2041-10-25      | Floating      | 11.68%                | Yes           |                  2 | On Loan: No      |
| LoanCore Issuer LLC                                    | LoanCore Issuer LLC, Series 2025-CRE9, Class A                                    | CUSIP: 538912AA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4810000 | PA      | $4811480.04   | 0.33%             | 2042-08-18      | Floating      | 5.51%                 | Yes           |                  2 | On Loan: No      |
| Nakama Re Pte. Ltd.                                    | Nakama Re Pte. Ltd., Series 1                                                     | CUSIP: 62984JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    750000 | PA      | $761475.00    | 0.05%             | 2029-04-04      | Floating      | 6.19%                 | Yes           |                  2 | On Loan: No      |
| MCR Mortgage Trust                                     | MCR Mortgage Trust, Series 2024-TWA, Class F                                      | CUSIP: 582923AF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1960000 | PA      | $2009136.61   | 0.14%             | 2039-06-12      | Fixed         | 10.38%                | Yes           |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                     | Venture Global Plaquemines LNG LLC                                                | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   2680000 | PA      | $2807174.04   | 0.19%             | 2034-01-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                    | CDI                                                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        | 297700000 | PA      | $-1271070.90  | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| MF1 Ltd.                                               | MF1 Ltd., Series 2022-FL8, Class A                                                | CUSIP: 55284JAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1853475 | PA      | $1854198.70   | 0.13%             | 2037-02-19      | Floating      | 5.35%                 | Yes           |                  2 | On Loan: No      |
| Galileo Re Ltd.                                        | Galileo Re Ltd., Series A                                                         | CUSIP: 36354TAN2<br>LEI: 549300MXI75DHMS7JH38 | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1573800.00   | 0.11%             | 2028-01-07      | Floating      | 10.97%                | Yes           |                  2 | On Loan: No      |
| Citadel Securities Global Holdings LLC                 | Citadel Securities Global Holdings LLC                                            | CUSIP: 17289RAA4<br>LEI: 549300NV5RXBUS3X7L47 | Long             | DBT              | CORP              | US        |   8505000 | PA      | $8704030.44   | 0.60%             | 2030-06-18      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: —       |
| MPOWER Education Trust                                 | MPOWER Education Trust, Series 2025-A, Class C                                    | CUSIP: 624930AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2240000 | PA      | $2142590.02   | 0.15%             | 2042-07-21      | Fixed         | 10.84%                | Yes           |                  2 | On Loan: No      |
| SANTANDER US CAPITAL MARKETS LLC                       | Government Agency Repurchase Agreement                                            | CUSIP: N/A<br>LEI: 549300LGG2RLWD21SU97       | Long             | RA               | CORP              | US        |  45500000 | PA      | $45500000.00  | 3.12%             |  |  |  | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                      | GLS Auto Receivables Issuer Trust, Series 2024-2A, Class E                        | CUSIP: 37964VAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1453000 | PA      | $1510250.09   | 0.10%             | 2031-05-15      | Fixed         | 7.98%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                   | GNMA, Series 2016-88, Class SM                                                    | CUSIP: 38379XTJ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     85285 | PA      | $11106.39     | 0.00%             | 2046-07-20      | Floating      | 1.95%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                 | Truist Financial Corp.                                                            | CUSIP: 89788NAA8<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   2255000 | PA      | $2248102.09   | 0.15%             | 2033-07-28      | Variable      | 4.92%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                     | Energy Transfer LP                                                                | CUSIP: 29273VAU4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1240000 | PA      | $1355061.13   | 0.09%             | 2033-12-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                           | UBS Group AG                                                                      | CUSIP: 225401BJ6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    430000 | PA      | $437505.89    | 0.03%             | 2034-08-10      | Variable      | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Sound Point CLO V-R Ltd.                               | Sound Point CLO V-R Ltd., Series 2014-1RA, Class B                                | CUSIP: 83607EAC6<br>LEI: 549300UPX3H8ENJXHI23 | Long             | ABS-CBDO         | CORP              | KY        |   1350000 | PA      | $1352592.00   | 0.09%             | 2031-07-18      | Floating      | 5.90%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                          | Freedom Mortgage Holdings LLC                                                     | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |   1395000 | PA      | $1464750.00   | 0.10%             | 2029-02-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| A&D Mortgage Trust                                     | A&D Mortgage Trust, Series 2023-NQM4, Class B1                                    | CUSIP: 00002MAE9<br>LEI: 9845002EOD0CFAFA4F48 | Long             | ABS-MBS          | CORP              | US        |   1570000 | PA      | $1587997.54   | 0.11%             | 2068-09-25      | Variable      | 8.06%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                    | Societe Generale SA                                                               | CUSIP: 83368RCF7<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   2935000 | PA      | $3094526.41   | 0.21%             | 2033-04-13      | Variable      | 6.10%                 | Yes           |                  2 | On Loan: —       |
| Mystic Re IV Ltd.                                      | Mystic Re IV Ltd., Series A                                                       | CUSIP: 62865LAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $253250.00    | 0.02%             | 2026-01-08      | Floating      | 12.77%                | Yes           |                  2 | On Loan: No      |
| Grupo Aeromexico SAB de CV                             | Grupo Aeromexico SAB de CV                                                        | CUSIP: 40054JAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |   1275000 | PA      | $1284562.50   | 0.09%             | 2029-11-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortgage Trust                | Saluda Grade Alternative Mortgage Trust, Series 2024-RTL5, Class A1               | CUSIP: 795935AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1190000 | PA      | $1201035.35   | 0.08%             | 2030-04-25      | Variable      | 7.76%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                  | FHLMC STACR REMIC Trust, Series 2025-DNA4, Class A1                               | CUSIP: 35564UBQ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5090000 | PA      | $5091590.63   | 0.35%             | 2045-10-25      | Floating      | 5.09%                 | Yes           |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                     | General Motors Financial Co., Inc.                                                | CUSIP: 37045XEP7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1455000 | PA      | $1537555.17   | 0.11%             | 2034-01-07      | Fixed         | 6.10%                 | No            |                  2 | On Loan: —       |
| BPCE SA                                                | BPCE SA                                                                           | CUSIP: 05571ABA2<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   5895000 | PA      | $6319599.99   | 0.43%             | 2036-01-14      | Variable      | 6.29%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                   | FNMA, Series 2013-5, Class YI                                                     | CUSIP: 3136ABF73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     51724 | PA      | $887.22       | 0.00%             | 2028-02-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Winston RE Ltd.                                        | Winston RE Ltd., Series A                                                         | CUSIP: 975660AA9<br>LEI: 2549001Q4VX5Y31QFJ88 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $268800.00    | 0.02%             | 2027-02-26      | Floating      | 14.09%                | Yes           |                  2 | On Loan: No      |
| Ford Credit Auto Lease Trust                           | Ford Credit Auto Lease Trust, Series 2023-B, Class C                              | CUSIP: 34529NAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1420000 | PA      | $1429852.95   | 0.10%             | 2027-04-15      | Fixed         | 6.43%                 | No            |                  2 | On Loan: No      |
| Sotera Health Holdings LLC                             | Sotera Health Holdings LLC, First Lien Term Loan                                  | CUSIP: 83600VAH4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    746590 | PA      | $748456.76    | 0.05%             | 2031-05-30      | Variable      | 6.34%                 | No            |                  2 | On Loan: No      |
| Hanwha Life Insurance Co. Ltd.                         | Hanwha Life Insurance Co. Ltd.                                                    | CUSIP: 41135UAC9<br>LEI: 988400ZKCI3R9DQHR320 | Long             | DBT              | CORP              | KR        |   2483000 | PA      | $2604143.86   | 0.18%             | 2055-06-24      | Variable      | 6.30%                 | Yes           |                  2 | On Loan: No      |
| Ursa Re Ltd.                                           | Ursa Re Ltd., Series Aa                                                           | CUSIP: 90323WAL4<br>LEI: 549300O8X4DWGDJZ6W59 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $250375.00    | 0.02%             | 2025-12-06      | Floating      | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Kinetic Advantage Master Owner Trust                   | Kinetic Advantage Master Owner Trust, Series 2024-1A, Class A                     | CUSIP: 49462DAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2550000 | PA      | $2551197.48   | 0.17%             | 2027-11-15      | Floating      | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Canadian Dollar                                        | Canadian Dollar                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CA        |      3790 | OU      | $2702.56      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SLG Office Trust                                       | SLG Office Trust, Series 2021-OVA, Class E                                        | CUSIP: 78449RAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1975000 | PA      | $1694427.95   | 0.12%             | 2041-07-15      | Fixed         | 2.85%                 | Yes           |                  2 | On Loan: No      |
| Jane Street Group                                      | Jane Street Group                                                                 | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5477000 | PA      | $5713440.89   | 0.39%             | 2033-05-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                   | FNMA, Series 2012-150, Class BI                                                   | CUSIP: 3136ABAR4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     57933 | PA      | $1199.45      | 0.00%             | 2028-01-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                  | FHLMC Seasoned Credit Risk Transfer Trust, Series 2020-1, Class M                 | CUSIP: 35563PPH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $145234.83    | 0.01%             | 2059-08-25      | Variable      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Atlas Capital DAC                                      | Atlas Capital DAC, Series A                                                       | CUSIP: 049207AA1<br>LEI: 635400CBPJFGGWD2AH20 | Long             | DBT              | CORP              | IE        |    250000 | PA      | $259050.00    | 0.02%             | 2026-06-05      | Floating      | 11.64%                | Yes           |                  2 | On Loan: No      |
| Aquila Re I Ltd.                                       | Aquila Re I Ltd., Series A-1.                                                     | CUSIP: 037987AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $260400.00    | 0.02%             | 2027-06-07      | Floating      | 9.27%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Private Bank NA                         | Morgan Stanley Private Bank NA                                                    | CUSIP: 61776NVG5<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5078499.05   | 0.35%             | 2031-07-18      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| Foundry JV Holdco LLC                                  | Foundry JV Holdco LLC                                                             | CUSIP: 350930AC7<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |   1225000 | PA      | $1306020.01   | 0.09%             | 2032-01-25      | Fixed         | 6.15%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                         | Carnival Corp.                                                                    | CUSIP: N/A<br>LEI: F1OF2ZSX47CR0BCWA982       | Long             | DBT              | CORP              | PA        |   1530000 | PA      | $1913178.26   | 0.13%             | 2030-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Kinetic Advantage Master Owner Trust                   | Kinetic Advantage Master Owner Trust, Series 2025-1A, Class A                     | CUSIP: 49462DAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4280000 | PA      | $4279949.50   | 0.29%             | 2029-10-15      | Floating      | 6.45%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                               | BX Trust, Series 2021-ARIA, Class D                                               | CUSIP: 05608RAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2118000 | PA      | $2114690.63   | 0.14%             | 2036-10-15      | Floating      | 6.04%                 | Yes           |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust           | American Credit Acceptance Receivables Trust, Series 2025-4, Class D              | CUSIP: 024948AG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1640000 | PA      | $1639294.14   | 0.11%             | 2031-09-12      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                   | GNMA, Series 2013-84, Class SC                                                    | CUSIP: 38378TS68<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     22921 | PA      | $1021.64      | 0.00%             | 2040-03-16      | Floating      | 2.45%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                      | GLS Auto Receivables Issuer Trust, Series 2024-3A, Class D                        | CUSIP: 37989AAL8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3050000 | PA      | $3077610.13   | 0.21%             | 2031-02-18      | Fixed         | 5.53%                 | Yes           |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                        | BRAVO Residential Funding Trust, Series 2025-HE1, Class A1                        | CUSIP: 10568VAA2<br>LEI: 254900V4GL9A5JTVB991 | Long             | ABS-O            | CORP              | US        |   8006022 | PA      | $8006002.71   | 0.55%             | 2072-09-25      | Floating      | 5.53%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                    | Avation plc                                                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DO               |  | GB        |     21088 | NS      | $11081.30     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Methanex US Operations, Inc.                           | Methanex US Operations, Inc.                                                      | CUSIP: 59151LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4948000 | PA      | $5033481.65   | 0.35%             | 2032-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: —       |
| SANTANDER US CAPITAL MARKETS LLC                       | Treasury Repurchase Agreement                                                     | CUSIP: N/A<br>LEI: 549300LGG2RLWD21SU97       | Long             | RA               | CORP              | US        |  43000000 | PA      | $43000000.00  | 2.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Torrey Pines Re Ltd.                                   | Torrey Pines Re Ltd., Series A                                                    | CUSIP: 89141WAH5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $261725.00    | 0.02%             | 2027-06-07      | Floating      | 9.93%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                             | Progress Residential Trust, Series 2021-SFR8, Class G                             | CUSIP: 74333TAQ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1020000 | PA      | $1000873.88   | 0.07%             | 2038-10-17      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Santander Holdings USA, Inc.                           | Santander Holdings USA, Inc.                                                      | CUSIP: 80282KBL9<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |   5160000 | PA      | $5484686.81   | 0.38%             | 2035-05-31      | Variable      | 6.34%                 | No            |                  2 | On Loan: —       |
| Venture Global Plaquemines LNG LLC                     | Venture Global Plaquemines LNG LLC                                                | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   4940000 | PA      | $5232008.34   | 0.36%             | 2036-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CaixaBank SA                                           | CaixaBank SA                                                                      | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | DBT              | CORP              | ES        |   2000000 | PA      | $2229916.69   | 0.15%             | 2028-09-14      | Variable      | 3.62%                 | Yes           |                  2 | On Loan: No      |
| COPT Defense Properties LP                             | COPT Defense Properties LP                                                        | CUSIP: 22003BAP1<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1578784.75   | 0.11%             | 2033-12-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Sanders RE II Ltd.                                     | Sanders RE II Ltd., Series A-1                                                    | CUSIP: 80001TAA5<br>LEI: 254900VRQU0N0MF3CT92 | Long             | DBT              | CORP              | BM        |    400000 | PA      | $412080.00    | 0.03%             | 2028-04-07      | Floating      | 7.84%                 | Yes           |                  2 | On Loan: No      |
| Citrus Re Ltd.                                         | Citrus Re Ltd., Series A                                                          | CUSIP: 177510AN4<br>LEI: 549300VWWT5SE805NK88 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $264975.00    | 0.02%             | 2027-06-07      | Floating      | 13.07%                | Yes           |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Credit Risk               | FHLMC Multifamily Structured Credit Risk, Series 2021-MN1, Class M2               | CUSIP: 35563FAB7<br>LEI: 549300XWC4JMK6CH6K84 | Long             | ABS-MBS          | USGSE             | US        |    700000 | PA      | $724982.51    | 0.05%             | 2051-01-25      | Floating      | 7.93%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                         | Morgan Stanley Capital I Trust, Series 2016-UBS9, Class D                         | CUSIP: 61766CAV1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    420000 | PA      | $320195.27    | 0.02%             | 2049-03-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Structured Agency Credit Risk Debt Notes         | FHLMC Structured Agency Credit Risk REMIC Trust, Series 2020-HQA5, Class B2       | CUSIP: 35565TBE8<br>LEI: 5493000IT2BRJ2Q9YQ96 | Long             | ABS-MBS          | CORP              | US        |    630000 | PA      | $774041.94    | 0.05%             | 2050-11-25      | Floating      | 11.58%                | Yes           |                  2 | On Loan: No      |
| 2001 Cat RE Ltd.                                       | 2001 Cat RE Ltd., Series A                                                        | CUSIP: 90215BAB3<br>LEI: 5493007NG10QO60NSO35 | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1049800.00   | 0.07%             | 2027-01-08      | Floating      | 16.96%                | Yes           |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                                | Kingdom of Saudi Arabia                                                           | CUSIP: 80413TBL2<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |   4785000 | PA      | $5123928.01   | 0.35%             | 2035-01-13      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Czechoslovak Group A/S                                 | Czechoslovak Group A/S                                                            | CUSIP: N/A<br>LEI: 315700SWFD7G70AVG768       | Long             | DBT              | CORP              | CZ        |   1735000 | PA      | $2081559.09   | 0.14%             | 2031-01-10      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Torrey Pines Re Ltd.                                   | Torrey Pines Re Ltd., Series A                                                    | CUSIP: 89141WAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $253450.00    | 0.02%             | 2026-06-05      | Floating      | 9.18%                 | Yes           |                  2 | On Loan: No      |
| SCF Equipment Leasing LLC                              | SCF Equipment Leasing LLC, Series 2022-1A, Class E                                | CUSIP: 784033AL6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1600000 | PA      | $1594112.64   | 0.11%             | 2032-07-20      | Fixed         | 5.26%                 | Yes           |                  2 | On Loan: No      |
| Ursa Re Ltd.                                           | Ursa Re Ltd., Series E                                                            | CUSIP: 90323WAN0<br>LEI: 549300O8X4DWGDJZ6W59 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $261150.00    | 0.02%             | 2026-12-07      | Floating      | 13.14%                | Yes           |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                           | Avolon Holdings Funding Ltd.                                                      | CUSIP: 05401AAS0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   2025000 | PA      | $2109596.85   | 0.14%             | 2028-05-04      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| VRTX Trust                                             | VRTX Trust, Series 2025-HQ, Class B                                               | CUSIP: 91835XAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2610000 | PA      | $2644222.06   | 0.18%             | 2042-08-05      | Variable      | 5.49%                 | Yes           |                  2 | On Loan: No      |
| THPT Mortgage Trust                                    | THPT Mortgage Trust, Series 2023-THL, Class C                                     | CUSIP: 87252LAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    700000 | PA      | $707229.60    | 0.05%             | 2034-12-10      | Variable      | 8.53%                 | Yes           |                  2 | On Loan: No      |
| US Acute Care Solutions LLC                            | US Acute Care Solutions LLC                                                       | CUSIP: 90367UAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8205000 | PA      | $8355233.55   | 0.57%             | 2029-05-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: —       |
| FHLMC                                                  | FHLMC STACR REMIC Trust, Series 2023-DNA1, Class M1A                              | CUSIP: 35564KP37<br>LEI: 5493000IRILHAKSCHN59 | Long             | ABS-MBS          | CORP              | US        |   1179272 | PA      | $1196317.41   | 0.08%             | 2043-03-25      | Floating      | 6.29%                 | Yes           |                  2 | On Loan: No      |
| Herbie Re Ltd.                                         | Herbie Re Ltd., Series A                                                          | CUSIP: 42703VAG8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $508250.00    | 0.03%             | 2028-01-07      | Floating      | 10.79%                | Yes           |                  2 | On Loan: No      |
| Dwight Issuer LLC                                      | Dwight Issuer LLC, Series 2025-FL1, Class B                                       | CUSIP: 233636AE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5080000 | PA      | $5089512.30   | 0.35%             | 2042-06-18      | Floating      | 6.82%                 | Yes           |                  2 | On Loan: No      |
| FIGRE Trust                                            | FIGRE Trust, Series 2023-HE3, Class A                                             | CUSIP: 31684CAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    801925 | PA      | $821001.96    | 0.06%             | 2053-11-25      | Variable      | 6.44%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust         | Morgan Stanley Residential Mortgage Loan Trust, Series 2023-NQM1, Class B1        | CUSIP: 61775VAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3130000 | PA      | $3151437.06   | 0.22%             | 2068-09-25      | Variable      | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Hilton Commercial Mortgage Trust                       | Hilton Commercial Mortgage Trust, Series 2024-ORL, Class D                        | CUSIP: 403956AG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    540000 | PA      | $540675.00    | 0.04%             | 2037-05-15      | Floating      | 7.22%                 | Yes           |                  2 | On Loan: No      |
| 3264 re Ltd.                                           | 3264 re Ltd., Series A                                                            | CUSIP: 88577CAG6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $527050.00    | 0.04%             | 2028-06-08      | Floating      | 11.42%                | Yes           |                  2 | On Loan: No      |
| Atlas Capital DAC                                      | Atlas Capital DAC, Series 2024                                                    | CUSIP: 049207AB9<br>LEI: 635400CBPJFGGWD2AH20 | Long             | DBT              | CORP              | IE        |    500000 | PA      | $557200.00    | 0.04%             | 2027-06-08      | Floating      | 16.49%                | Yes           |                  2 | On Loan: No      |
| Citizens Financial Group, Inc.                         | Citizens Financial Group, Inc.                                                    | CUSIP: 174610BJ3<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   2185000 | PA      | $2235493.67   | 0.15%             | 2031-03-05      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Merna Reinsurance II Ltd.                              | Merna Reinsurance II Ltd., Series B                                               | CUSIP: 59013MAJ1<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $265775.00    | 0.02%             | 2026-07-07      | Floating      | 14.35%                | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.         | Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class B          | CUSIP: 03880RAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    920000 | PA      | $920323.10    | 0.06%             | 2036-11-15      | Floating      | 6.15%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                  | Bank of America Corp.                                                             | CUSIP: 06051GMQ9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4065000 | PA      | $4230779.68   | 0.29%             | 2036-02-12      | Variable      | 5.74%                 | No            |                  2 | On Loan: —       |
| Bluebonnet RE Ltd.                                     | Bluebonnet RE Ltd., Series C                                                      | CUSIP: 09610NAC6<br>LEI: 2549007DQLA6K2ACFN15 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $272375.00    | 0.02%             | 2028-06-07      | Floating      | 15.65%                | Yes           |                  2 | On Loan: No      |
| ING Groep NV                                           | ING Groep NV                                                                      | CUSIP: 456837BT9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   5840000 | PA      | $6057341.44   | 0.42%             | 2032-11-16      | Variable      | 7.00%                 | No            |                  2 | On Loan: —       |
| Fuchsia - London Bridge 2 PCC Ltd.                     | Fuchsia - London Bridge 2 PCC Ltd., Series A                                      | CUSIP: 541917AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $514500.00    | 0.04%             | 2028-04-06      | Floating      | 9.00%                 | Yes           |                  2 | On Loan: No      |
| MetroCat Re Ltd.                                       | MetroCat Re Ltd., Series A                                                        | CUSIP: 59165HAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    750000 | PA      | $761625.00    | 0.05%             | 2026-05-08      | Floating      | 9.65%                 | Yes           |                  2 | On Loan: No      |
| SMRT                                                   | SMRT, Series 2022-MINI, Class E                                                   | CUSIP: 78457JAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3110000 | PA      | $3090562.50   | 0.21%             | 2039-01-15      | Floating      | 6.73%                 | Yes           |                  2 | On Loan: No      |
| Foundry JV Holdco LLC                                  | Foundry JV Holdco LLC                                                             | CUSIP: 350930AK9<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |   2470000 | PA      | $2627098.42   | 0.18%             | 2039-01-25      | Fixed         | 6.30%                 | Yes           |                  2 | On Loan: No      |
| Merna Reinsurance II Ltd.                              | Merna Reinsurance II Ltd., Series C                                               | CUSIP: 59013MAM4<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $523850.00    | 0.04%             | 2027-07-07      | Floating      | 12.37%                | Yes           |                  2 | On Loan: No      |
| Four Lakes Re Ltd.                                     | Four Lakes Re Ltd., Series A                                                      | CUSIP: 35087TAE8<br>LEI: 549300MG4RRU6DT7MN54 | Long             | DBT              | CORP              | BM        |    750000 | PA      | $769425.00    | 0.05%             | 2027-01-07      | Floating      | 9.80%                 | Yes           |                  2 | On Loan: No      |
| Easton Re Ltd.                                         | Easton Re Ltd., Series A                                                          | CUSIP: 27777AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $513650.00    | 0.04%             | 2027-01-08      | Floating      | 11.34%                | Yes           |                  2 | On Loan: No      |
| Darling Global Finance BV                              | Darling Global Finance BV                                                         | CUSIP: N/A<br>LEI: 724500R2BQXOR6YG2Y67       | Long             | DBT              | CORP              | NL        |   3435000 | PA      | $4037706.88   | 0.28%             | 2032-07-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                   | FNMA, Series 2018-42, Class SB                                                    | CUSIP: 3136B2AS1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5082146 | PA      | $651560.07    | 0.04%             | 2048-06-25      | Floating      | 1.90%                 | No            |                  2 | On Loan: No      |
| NMEF Funding LLC                                       | NMEF Funding LLC, Series 2024-A, Class D                                          | CUSIP: 62919UAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1570000 | PA      | $1613113.46   | 0.11%             | 2031-12-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                     | General Motors Financial Co., Inc.                                                | CUSIP: 37045XEY8<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1352044.55   | 0.09%             | 2031-06-18      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Imperial Fund Mortgage Trust                           | Imperial Fund Mortgage Trust, Series 2022-NQM5, Class B1                          | CUSIP: 45276QAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3106000 | PA      | $3095091.73   | 0.21%             | 2067-08-25      | Variable      | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Winston RE Ltd.                                        | Winston RE Ltd., Series B                                                         | CUSIP: 975660AB7<br>LEI: 2549001Q4VX5Y31QFJ88 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $268900.00    | 0.02%             | 2027-02-26      | Floating      | 15.56%                | Yes           |                  2 | On Loan: No      |
| Republic of Cote d'Ivoire                              | Republic of Cote d'Ivoire                                                         | CUSIP: N/A<br>LEI: 254900ICW11T82O6H590       | Long             | DBT              | NUSS              | CI        |   7761000 | PA      | $8650396.00   | 0.59%             | 2032-01-30      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Celanese US Holdings LLC                               | Celanese US Holdings LLC                                                          | CUSIP: 15089QAY0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   7300000 | PA      | $7485011.20   | 0.51%             | 2033-11-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: —       |
| BP Capital Markets plc                                 | BP Capital Markets plc                                                            | CUSIP: 05565QDX3<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |   7605000 | PA      | $7937186.40   | 0.54%             | 2035-03-18      | Variable      | 6.12%                 | No            |                  2 | On Loan: —       |
| First Coast Re IV Ltd.                                 | First Coast Re IV Ltd., Series A                                                  | CUSIP: 31969UAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $258625.00    | 0.02%             | 2026-04-07      | Floating      | 9.94%                 | Yes           |                  2 | On Loan: No      |
| Marlon Ltd.                                            | Marlon Ltd., Series A                                                             | CUSIP: 571253AA1<br>LEI: 98450044CD0YE4DAFC06 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $267550.00    | 0.02%             | 2027-06-07      | Floating      | 11.20%                | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                                | Hyundai Capital America                                                           | CUSIP: 44891ADM6<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   4780000 | PA      | $4919922.26   | 0.34%             | 2030-01-08      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: —       |
| Citizens Financial Group, Inc.                         | Citizens Financial Group, Inc.                                                    | CUSIP: 174610BF1<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    445000 | PA      | $462640.30    | 0.03%             | 2030-01-23      | Variable      | 5.84%                 | No            |                  2 | On Loan: —       |
| Radnor Re Ltd.                                         | Radnor Re Ltd., Series 2024-1, Class M1B                                          | CUSIP: 75049AAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1620000 | PA      | $1631257.54   | 0.11%             | 2034-09-25      | Floating      | 7.08%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                   | GNMA, Series 2016-81                                                              | CUSIP: 38379YNN4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     47085 | PA      | $9920.43      | 0.00%             | 2046-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                        | BRAVO Residential Funding Trust, Series 2024-NQM2, Class B1                       | CUSIP: 10569KAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1960000 | PA      | $1993099.30   | 0.14%             | 2064-02-25      | Fixed         | 7.91%                 | Yes           |                  2 | On Loan: No      |
| Wynn Macau Ltd.                                        | Wynn Macau Ltd.                                                                   | CUSIP: 98313RAL0<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   4855000 | PA      | $4892470.89   | 0.34%             | 2034-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Jefferies Financial Group, Inc.                        | Jefferies Financial Group, Inc.                                                   | CUSIP: 47233WEJ4<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   1815000 | PA      | $1904744.83   | 0.13%             | 2034-04-14      | Fixed         | 6.20%                 | No            |                  2 | On Loan: —       |
| Hilcorp Energy I LP                                    | Hilcorp Energy I LP                                                               | CUSIP: 431318BE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3145000 | PA      | $2987738.02   | 0.20%             | 2034-05-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: —       |
| Societe Generale SA                                    | Societe Generale SA                                                               | CUSIP: 83368RBL5<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1400000 | PA      | $1476150.70   | 0.10%             | 2033-06-15      | Variable      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| Northshore Re II Ltd.                                  | Northshore Re II Ltd., Series A                                                   | CUSIP: 666842AF6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1019700.00   | 0.07%             | 2028-04-07      | Floating      | 8.84%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                           | UBS Group AG                                                                      | CUSIP: 902613BK3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1500000 | PA      | $1596826.50   | 0.11%             | 2031-04-12      | Variable      | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Meta Platforms, Inc.                                   | Meta Platforms, Inc.                                                              | CUSIP: 30303MAE2<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   3335000 | PA      | $3309913.50   | 0.23%             | 2055-11-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                    | Connecticut Avenue Securities Trust, Series 2023-R03, Class 2M1                   | CUSIP: 20753ACJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    514411 | PA      | $520769.69    | 0.04%             | 2043-04-25      | Floating      | 6.68%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust         | Morgan Stanley Residential Mortgage Loan Trust, Series 2023-NQM1, Class B2        | CUSIP: 61775VAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3264000 | PA      | $3259012.61   | 0.22%             | 2068-09-25      | Variable      | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortgage Trust                | Saluda Grade Alternative Mortgage Trust, Series 2023-FIG4, Class A                | CUSIP: 79581UAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1898932 | PA      | $1967763.62   | 0.13%             | 2053-11-25      | Variable      | 6.72%                 | Yes           |                  2 | On Loan: No      |
| Lightning Re                                           | Lightning Re, Series 2023-1                                                       | CUSIP: 532242AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1040100.00   | 0.07%             | 2026-03-31      | Floating      | 14.88%                | Yes           |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                             | J.P. Morgan Mortgage Trust, Series 2021-10, Class AX1                             | CUSIP: 46654ABS7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  26238215 | PA      | $166738.61    | 0.01%             | 2051-12-25      | Variable      | 0.11%                 | Yes           |                  2 | On Loan: No      |
| Nordea Bank Abp                                        | Nordea Bank Abp                                                                   | CUSIP: 65559CAD3<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   1840000 | PA      | $1722752.81   | 0.12%             | 2029-03-01      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| State Street Corp.                                     | State Street Corp.                                                                | CUSIP: 857477DE0<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   3420000 | PA      | $3406118.43   | 0.23%             | 2036-10-23      | Variable      | 4.78%                 | No            |                  2 | On Loan: —       |
| Dai-ichi Life Insurance Co. Ltd. (The)                 | Dai-ichi Life Insurance Co. Ltd. (The)                                            | CUSIP: 23381LAA2<br>LEI: 3538001235ACEIORUV72 | Long             | DBT              | CORP              | JP        |   9760000 | PA      | $10247746.24  | 0.70%             | 2035-01-16      | Variable      | 6.20%                 | Yes           |                  2 | On Loan: —       |
| Blue Ridge Re Ltd.                                     | Blue Ridge Re Ltd., Series A                                                      | CUSIP: 096003AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $258650.00    | 0.02%             | 2027-01-08      | Floating      | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Chartwell RE Ltd.                                      | Chartwell RE Ltd., Series A                                                       | CUSIP: 16140YAA0<br>LEI: 984500FFT645KFFE6F50 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $524150.00    | 0.04%             | 2028-06-07      | Floating      | 9.91%                 | Yes           |                  2 | On Loan: No      |
| Nationwide Building Society                            | Nationwide Building Society                                                       | CUSIP: 63861VAK3<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |   3405000 | PA      | $3507511.47   | 0.24%             | 2029-07-29      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: —       |
| Sanders RE II Ltd.                                     | Sanders RE II Ltd., Series B-2                                                    | CUSIP: 80001TAD9<br>LEI: 254900VRQU0N0MF3CT92 | Long             | DBT              | CORP              | BM        |   1400000 | PA      | $1483580.00   | 0.10%             | 2030-04-08      | Floating      | 8.70%                 | Yes           |                  2 | On Loan: No      |
| Merna Reinsurance II Ltd.                              | Merna Reinsurance II Ltd., Series A                                               | CUSIP: 59013MAP7<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $531000.00    | 0.04%             | 2028-07-07      | Floating      | 12.59%                | Yes           |                  2 | On Loan: No      |
| American Electric Power Co., Inc.                      | American Electric Power Co., Inc., Series D                                       | CUSIP: 02557TAF6<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   2280000 | PA      | $2308944.60   | 0.16%             | 2056-03-15      | Variable      | 6.05%                 | No            |                  2 | On Loan: —       |
| PRM Trust                                              | PRM Trust, Series 2025-PRM6, Class E                                              | CUSIP: 74277DAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3430000 | PA      | $3421027.12   | 0.23%             | 2033-07-05      | Variable      | 6.58%                 | Yes           |                  2 | On Loan: No      |
| Merna Re Companywide Ltd.                              | Merna Re Companywide Ltd., Series A..                                             | CUSIP: 59013FAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $537050.00    | 0.04%             | 2028-07-07      | Floating      | 10.84%                | Yes           |                  2 | On Loan: No      |
| FHLMC                                                  | FHLMC STACR Trust, Series 2019-FTR1, Class B2                                     | CUSIP: 35564PAC2<br>LEI: 549300MHCI0CUXMJQS62 | Long             | ABS-MBS          | CORP              | US        |   3516000 | PA      | $4172241.36   | 0.29%             | 2048-01-25      | Floating      | 12.65%                | Yes           |                  2 | On Loan: No      |
| Herbie Re Ltd.                                         | Herbie Re Ltd., Series B                                                          | CUSIP: 42703VAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $258200.00    | 0.02%             | 2028-01-08      | Floating      | 13.74%                | Yes           |                  2 | On Loan: No      |
| Ball Corp.                                             | Ball Corp.                                                                        | CUSIP: N/A<br>LEI: 0BGI85ALH27ZJP15DY16       | Long             | DBT              | CORP              | US        |   4060000 | PA      | $4825025.37   | 0.33%             | 2032-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| N/A                                                    | U.S. Treasury 2 Year Note                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       539 | NC      | $-208698.84   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Capital America                                | Hyundai Capital America                                                           | CUSIP: 44891ACP0<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    995000 | PA      | $1063623.72   | 0.07%             | 2030-09-21      | Fixed         | 6.20%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                    | Connecticut Avenue Securities Trust, Series 2024-R05, Class 2B1                   | CUSIP: 20754XAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1260000 | PA      | $1263159.20   | 0.09%             | 2044-07-25      | Floating      | 6.18%                 | Yes           |                  2 | On Loan: No      |
| ING Groep NV                                           | ING Groep NV, Series NC10                                                         | CUSIP: 456837AZ6<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   1960000 | PA      | $1750704.54   | 0.12%             | 2031-05-16      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| DataBank Issuer                                        | DataBank Issuer, Series 2024-1A, Class A2                                         | CUSIP: 23802WAN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    495000 | PA      | $494839.87    | 0.03%             | 2054-01-26      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| GCAT Trust                                             | GCAT Trust, Series 2024-NQM1, Class B1                                            | CUSIP: 36169HAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    595000 | PA      | $604162.70    | 0.04%             | 2059-01-25      | Variable      | 7.90%                 | Yes           |                  2 | On Loan: No      |
| Grupo Aeromexico SAB de CV                             | Grupo Aeromexico SAB de CV                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |    211070 | NS      | $331365.76    | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Sanders Re III Ltd.                                    | Sanders Re III Ltd.                                                               | CUSIP: 80001QAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $259975.00    | 0.02%             | 2027-04-07      | Floating      | 9.35%                 | Yes           |                  2 | On Loan: No      |
| AREIT Ltd.                                             | AREIT Ltd., Series 2024-CRE9, Class A                                             | CUSIP: 00193AAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    837880 | PA      | $838330.95    | 0.06%             | 2041-05-17      | Floating      | 5.72%                 | Yes           |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                    | Hilcorp Energy I LP                                                               | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4895000 | PA      | $4715252.17   | 0.32%             | 2035-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Gateway Re Ltd.                                        | Gateway Re Ltd., Series AAA                                                       | CUSIP: 36779CAM8<br>LEI: 549300ZYFWQV9RCIN520 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $507300.00    | 0.03%             | 2028-07-07      | Floating      | 8.09%                 | Yes           |                  2 | On Loan: No      |
| Uniti Group LP                                         | Uniti Group LP                                                                    | CUSIP: 91327TAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1798124.93   | 0.12%             | 2032-06-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of Colombia                                   | Republic of Colombia                                                              | CUSIP: 195325ES0<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   4000000 | PA      | $4507800.00   | 0.31%             | 2035-04-25      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                           | Avolon Holdings Funding Ltd.                                                      | CUSIP: 05401AAX9<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   3500000 | PA      | $3553052.30   | 0.24%             | 2030-01-15      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| Prestige Auto Receivables Trust                        | Prestige Auto Receivables Trust, Series 2023-2A, Class D                          | CUSIP: 74113VAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1020000 | PA      | $1054979.57   | 0.07%             | 2029-08-15      | Fixed         | 7.71%                 | Yes           |                  2 | On Loan: No      |
| COPT Defense Properties LP                             | COPT Defense Properties LP                                                        | CUSIP: 12713UAA4<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |   1280000 | PA      | $1272566.49   | 0.09%             | 2030-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Tricon Residential Trust                               | Tricon Residential Trust, Series 2025-SFR1, Class D                               | CUSIP: 895974AD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2100000 | PA      | $2106745.62   | 0.14%             | 2042-03-17      | Floating      | 6.03%                 | Yes           |                  2 | On Loan: No      |
| Cape Lookout Re Ltd.                                   | Cape Lookout Re Ltd., Series A                                                    | CUSIP: 13947LAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $525450.00    | 0.04%             | 2028-03-13      | Floating      | 10.74%                | Yes           |                  2 | On Loan: No      |
| Boeing Co. (The)                                       | Boeing Co. (The)                                                                  | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   4780000 | PA      | $5440630.08   | 0.37%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                              | Ford Motor Credit Co. LLC                                                         | CUSIP: 345397G31<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   3875000 | PA      | $3961651.78   | 0.27%             | 2031-11-05      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Citrus Re Ltd.                                         | Citrus Re Ltd., Series A                                                          | CUSIP: 177510AL8<br>LEI: 549300VWWT5SE805NK88 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $258350.00    | 0.02%             | 2026-06-07      | Floating      | 10.47%                | Yes           |                  2 | On Loan: No      |
| First Coast Re IV Ltd.                                 | First Coast Re IV Ltd., Series B                                                  | CUSIP: 31969UAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $261950.00    | 0.02%             | 2028-03-10      | Floating      | 11.34%                | Yes           |                  2 | On Loan: No      |
| Kosmos Energy Ltd.                                     | Kosmos Energy Ltd.                                                                | CUSIP: 500688AF3<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |   3950000 | PA      | $3713000.00   | 0.25%             | 2027-05-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| MFA Trust                                              | MFA Trust, Series 2024-NQM2, Class B1A                                            | CUSIP: 58004JAE2<br>LEI: 254900MMVXALAH2X8D73 | Long             | ABS-MBS          | CORP              | US        |   1664000 | PA      | $1668163.49   | 0.11%             | 2069-08-25      | Variable      | 6.78%                 | Yes           |                  2 | On Loan: No      |
| NMEF Funding LLC                                       | NMEF Funding LLC, Series 2025-A, Class D                                          | CUSIP: 62919VAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3180000 | PA      | $3223848.38   | 0.22%             | 2032-07-15      | Fixed         | 8.07%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                   | GNMA, Series 2011-135, Class QI                                                   | CUSIP: 38377YA75<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     31426 | PA      | $2274.09      | 0.00%             | 2041-06-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Goat Holdco LLC                                        | Goat Holdco LLC                                                                   | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1470000 | PA      | $1501109.35   | 0.10%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Energy Transfer LP                                     | Energy Transfer LP                                                                | CUSIP: 29273VBA7<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1005000 | PA      | $1033717.54   | 0.07%             | 2034-09-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Purple Re Ltd.                                         | Purple Re Ltd., Series A                                                          | CUSIP: 74639NAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $531950.00    | 0.04%             | 2027-06-07      | Floating      | 12.96%                | Yes           |                  2 | On Loan: No      |
| NatWest Group plc                                      | NatWest Group plc                                                                 | CUSIP: 639057AP3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1355000 | PA      | $1421045.59   | 0.10%             | 2034-06-01      | Variable      | 6.47%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                       | Boeing Co. (The)                                                                  | CUSIP: 097023DU6<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    620000 | PA      | $709596.02    | 0.05%             | 2064-05-01      | Fixed         | 7.01%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                | Hyundai Capital America                                                           | CUSIP: 44891ADX2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   3260000 | PA      | $3370461.45   | 0.23%             | 2032-06-23      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: —       |
| Diamond Sports Group LLC                               | Diamond Sports Group LLC                                                          | CUSIP: N/A<br>LEI: 5493002K6DHWNZH8YA34       | Long             | EC               | CORP              | US        |        79 | NS      | $577.73       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| FloodSmart Re Ltd.                                     | FloodSmart Re Ltd., Series A                                                      | CUSIP: 33975CAP0<br>LEI: 549300KK1LNVFW95S875 | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1070500.00   | 0.07%             | 2027-03-12      | Floating      | 18.30%                | Yes           |                  2 | On Loan: No      |
| N/A                                                    | Forward Foreign Currency Contract                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $3058.94      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sutter Re Ltd.                                         | Sutter Re Ltd., Series B                                                          | CUSIP: 86944RAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $255625.00    | 0.02%             | 2026-06-19      | Floating      | 10.62%                | Yes           |                  2 | On Loan: No      |
| N/A                                                    | U.S. Treasury 5 Year Note                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |     -1451 | NC      | $-9551.62     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Veros Auto Receivables Trust                           | Veros Auto Receivables Trust, Series 2025-1, Class D                              | CUSIP: 92511BAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2230000 | PA      | $2286519.80   | 0.16%             | 2032-05-17      | Fixed         | 8.79%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                  | FHLMC STACR Trust, Series 2019-FTR3, Class B2                                     | CUSIP: 35565EAE2<br>LEI: 5493009ZFZYH4FRCW638 | Long             | ABS-MBS          | CORP              | US        |   4089000 | PA      | $4395994.35   | 0.30%             | 2047-09-25      | Floating      | 9.10%                 | Yes           |                  2 | On Loan: No      |
| APA Corp.                                              | APA Corp.                                                                         | CUSIP: 03743QAT5<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |  12221000 | PA      | $12165528.39  | 0.83%             | 2055-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                           | Mizuho Financial Group, Inc.                                                      | CUSIP: 60687YDE6<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |   1010000 | PA      | $1059255.23   | 0.07%             | 2035-05-26      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| Home Partners of America Trust                         | Home Partners of America Trust, Series 2019-1, Class F                            | CUSIP: 43731QAL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    778187 | PA      | $743532.48    | 0.05%             | 2039-09-17      | Fixed         | 4.10%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes Ltd.         | Arbor Realty Commercial Real Estate Notes Ltd., Series 2022-FL1, Class A          | CUSIP: 03880XAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1022759 | PA      | $1022758.86   | 0.07%             | 2037-01-15      | Floating      | 5.68%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                   | GNMA, Series 2012-140, Class IC                                                   | CUSIP: 38378GHA9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     78357 | PA      | $12736.08     | 0.00%             | 2042-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Four Lakes Re Ltd.                                     | Four Lakes Re Ltd., Series B                                                      | CUSIP: 35087TAH1<br>LEI: 549300MG4RRU6DT7MN54 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $516850.00    | 0.04%             | 2028-01-07      | Floating      | 12.25%                | Yes           |                  2 | On Loan: No      |
| Mayflower Re Ltd.                                      | Mayflower Re Ltd., Series A                                                       | CUSIP: 57839MAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    750000 | PA      | $770250.00    | 0.05%             | 2028-07-07      | Floating      | 7.34%                 | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                              | Commercial Mortgage Trust, Series 2015-CR26, Class D                              | CUSIP: 12593QBK5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1350000 | PA      | $1095579.00   | 0.08%             | 2048-10-10      | Variable      | 3.39%                 | No            |                  2 | On Loan: No      |
| Lapis London Bridge 2 PCC Ltd.                         | Lapis London Bridge 2 PCC Ltd., Series A                                          | CUSIP: 54180CAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    250000 | PA      | $259850.00    | 0.02%             | 2029-01-09      | Floating      | 11.34%                | Yes           |                  2 | On Loan: No      |
| Finca RE Ltd.                                          | Finca RE Ltd., Series A                                                           | CUSIP: 31771QAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $520150.00    | 0.04%             | 2028-06-07      | Floating      | 9.09%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                    | Connecticut Avenue Securities Trust, Series 2024-R03, Class 2M2                   | CUSIP: 207941AB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1090000 | PA      | $1096812.50   | 0.08%             | 2044-03-25      | Floating      | 6.13%                 | Yes           |                  2 | On Loan: No      |
| Longleaf Pine Re Ltd.                                  | Longleaf Pine Re Ltd., Series 1                                                   | CUSIP: 54307MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $280400.00    | 0.02%             | 2027-05-25      | Floating      | 21.81%                | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                           | UBS Group AG                                                                      | CUSIP: 902613BH0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1310000 | PA      | $1381643.53   | 0.09%             | 2035-02-08      | Variable      | 5.70%                 | Yes           |                  2 | On Loan: No      |
| Amentum Holdings, Inc.                                 | Amentum Holdings, Inc., First Lien Term Loan                                      | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |    431642 | PA      | $430994.27    | 0.03%             | 2031-09-29      | Variable      | 6.21%                 | No            |                  2 | On Loan: No      |
| Topanga Re Ltd.                                        | Topanga Re Ltd., Series A                                                         | CUSIP: 89055TAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    400000 | PA      | $398400.00    | 0.03%             | 2026-01-08      | Floating      | 8.65%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                                | Kingdom of Saudi Arabia                                                           | CUSIP: N/A<br>LEI: 635400FMICXSM3SI3H65       | Long             | DBT              | NUSS              | SA        |   3455000 | PA      | $4010349.41   | 0.27%             | 2032-03-05      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Vista Point Securitization Trust                       | Vista Point Securitization Trust, Series 2020-2, Class M1                         | CUSIP: 92838TAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1325000 | PA      | $1258513.89   | 0.09%             | 2065-04-25      | Variable      | 3.40%                 | Yes           |                  2 | On Loan: No      |
| PennyMac Financial Services, Inc.                      | PennyMac Financial Services, Inc.                                                 | CUSIP: 70932MAH0<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |   2050000 | PA      | $2101219.25   | 0.14%             | 2034-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| MF1 LLC                                                | MF1 LLC, Series 2024-FL14, Class A                                                | CUSIP: 55416AAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2175000 | PA      | $2184226.79   | 0.15%             | 2039-03-19      | Floating      | 5.77%                 | Yes           |                  2 | On Loan: No      |
| Radnor RE Ltd.                                         | Radnor RE Ltd., Series 2021-1, Class M2                                           | CUSIP: 75279YAD3<br>LEI: 254900PS93C2BX29OQ80 | Long             | ABS-MBS          | CORP              | BM        |   1006209 | PA      | $1013773.28   | 0.07%             | 2033-12-27      | Floating      | 7.33%                 | Yes           |                  2 | On Loan: No      |
| Prestige Auto Receivables Trust                        | Prestige Auto Receivables Trust, Series 2023-2A, Class E                          | CUSIP: 74113VAL4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4740000 | PA      | $4997803.39   | 0.34%             | 2030-11-15      | Fixed         | 9.90%                 | Yes           |                  2 | On Loan: No      |
| American Honda Finance Corp.                           | American Honda Finance Corp.                                                      | CUSIP: 02665WFU0<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   5575000 | PA      | $5670227.91   | 0.39%             | 2031-10-23      | Fixed         | 4.85%                 | No            |                  2 | On Loan: —       |
| Ally Financial, Inc.                                   | Ally Financial, Inc.                                                              | CUSIP: 02005NBT6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    640000 | PA      | $672224.94    | 0.05%             | 2029-06-13      | Variable      | 6.99%                 | No            |                  2 | On Loan: No      |
| Ramble RE Ltd.                                         | Ramble RE Ltd., Series A                                                          | CUSIP: 751443AA0<br>LEI: 254900X8K5BTBY971F92 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $502650.00    | 0.03%             | 2027-03-05      | Floating      | 10.32%                | Yes           |                  2 | On Loan: No      |
| High Point Re Ltd.                                     | High Point Re Ltd., Series A                                                      | CUSIP: 429932AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $256250.00    | 0.02%             | 2027-01-06      | Floating      | 9.52%                 | Yes           |                  2 | On Loan: No      |
| PRPM Trust                                             | PRPM Trust, Series 2025-NQM1, Class B1                                            | CUSIP: 74391EAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3094000 | PA      | $3146361.00   | 0.22%             | 2069-11-25      | Variable      | 7.78%                 | Yes           |                  2 | On Loan: No      |
| Element Fleet Management Corp.                         | Element Fleet Management Corp.                                                    | CUSIP: 286181AM4<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |   1500000 | PA      | $1527530.55   | 0.10%             | 2027-03-13      | Fixed         | 5.64%                 | Yes           |                  2 | On Loan: —       |
| UBS Group AG                                           | UBS Group AG                                                                      | CUSIP: 902613BS6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1155000 | PA      | $1166674.74   | 0.08%             | 2035-02-05      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Continental Finance Credit Card ABS Master Trust       | Continental Finance Credit Card ABS Master Trust, Series 2024-A, Class A          | CUSIP: 66981PAQ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    740000 | PA      | $749925.10    | 0.05%             | 2032-12-15      | Fixed         | 5.78%                 | Yes           |                  2 | On Loan: No      |
| Titania RE Ltd.                                        | Titania RE Ltd., Series A                                                         | CUSIP: 888329AC3<br>LEI: 5493008E73M6FH2NSB56 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $259725.00    | 0.02%             | 2026-02-27      | Floating      | 17.01%                | Yes           |                  2 | On Loan: No      |
| Melco Resorts Finance Ltd.                             | Melco Resorts Finance Ltd.                                                        | CUSIP: 58547DAJ8<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |   1090000 | PA      | $1095308.30   | 0.08%             | 2033-09-24      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ITC Holdings Corp.                                     | ITC Holdings Corp.                                                                | CUSIP: 465685AT2<br>LEI: 549300HTO5U9D3SLE207 | Long             | DBT              | CORP              | US        |   1010000 | PA      | $1055288.27   | 0.07%             | 2034-05-09      | Fixed         | 5.65%                 | Yes           |                  2 | On Loan: —       |
| Morgan Stanley                                         | Morgan Stanley, Series I                                                          | CUSIP: 61748UAN2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   6720000 | PA      | $6683043.83   | 0.46%             | 2036-10-22      | Variable      | 4.89%                 | No            |                  2 | On Loan: No      |
| Kendall Re Ltd.                                        | Kendall Re Ltd., Series B                                                         | CUSIP: 48878QAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $262850.00    | 0.02%             | 2027-04-30      | Floating      | 11.62%                | Yes           |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                | Volkswagen Group of America Finance LLC                                           | CUSIP: 928668CS9<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   3930000 | PA      | $4042053.89   | 0.28%             | 2035-03-27      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: —       |
| GNMA                                                   | GNMA, Series 2016-5, Class CS                                                     | CUSIP: 38379TQP7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     84081 | PA      | $9924.67      | 0.00%             | 2046-01-20      | Floating      | 2.00%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                | Hyundai Capital America                                                           | CUSIP: 44891ACH8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    515000 | PA      | $531571.68    | 0.04%             | 2028-06-26      | Fixed         | 5.68%                 | Yes           |                  2 | On Loan: No      |
| Locke Tavern Re Ltd.                                   | Locke Tavern Re Ltd., Series A                                                    | CUSIP: 539694AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $508550.00    | 0.03%             | 2026-04-09      | Floating      | 8.84%                 | Yes           |                  2 | On Loan: No      |
| 1261229 BC Ltd.                                        | 1261229 BC Ltd., First Lien Term Loan                                             | CUSIP: C6903HAB0<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   6418912 | PA      | $6368395.66   | 0.44%             | 2030-10-08      | Variable      | 10.21%                | No            |                  2 | On Loan: No      |
| South Bow Canadian Infrastructure Holdings Ltd.        | South Bow Canadian Infrastructure Holdings Ltd.                                   | CUSIP: 836720AJ1<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | CA        |    805000 | PA      | $861157.61    | 0.06%             | 2055-03-01      | Variable      | 7.50%                 | No            |                  2 | On Loan: —       |
| Alamo Re Ltd.                                          | Alamo Re Ltd., Series A                                                           | CUSIP: 011395AJ9<br>LEI: 5493003E22VRD25G0S03 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $524200.00    | 0.04%             | 2026-06-07      | Floating      | 12.95%                | Yes           |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                      | GLS Auto Receivables Issuer Trust, Series 2024-3A, Class C                        | CUSIP: 37989AAJ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2560000 | PA      | $2586435.84   | 0.18%             | 2031-02-18      | Fixed         | 5.21%                 | Yes           |                  2 | On Loan: No      |
| Wildfire Intermediate Holdings LLC                     | Wildfire Intermediate Holdings LLC                                                | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |   6970000 | PA      | $6955766.56   | 0.48%             | 2029-10-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: —       |
| Total Play Telecomunicaciones SA de CV                 | Total Play Telecomunicaciones SA de CV                                            | CUSIP: 89157PAD0<br>LEI: 4469000001BSAPAMOQ06 | Long             | DBT              | CORP              | MX        |  11681750 | PA      | $11232002.63  | 0.77%             | 2032-12-31      | Fixed         | 11.12%                | Yes           |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                        | BRAVO Residential Funding Trust, Series 2023-NQM7, Class B1                       | CUSIP: 10569HAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2535000 | PA      | $2558375.49   | 0.18%             | 2063-09-25      | Variable      | 7.90%                 | Yes           |                  2 | On Loan: No      |
| Merna Reinsurance II Ltd.                              | Merna Reinsurance II Ltd., Series A                                               | CUSIP: 59013MAH5<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $262225.00    | 0.02%             | 2026-07-07      | Floating      | 12.26%                | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                          | Starwood Property Trust, Inc.                                                     | CUSIP: 85571BBF1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   9965000 | PA      | $10001103.20  | 0.69%             | 2028-10-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: —       |
| PNC Financial Services Group, Inc. (The)               | PNC Financial Services Group, Inc. (The)                                          | CUSIP: 693475CC7<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   3085000 | PA      | $3223936.49   | 0.22%             | 2036-01-29      | Variable      | 5.58%                 | No            |                  2 | On Loan: —       |
| United Mexican States                                  | United Mexican States                                                             | CUSIP: 91087BBF6<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   3000000 | PA      | $3168000.00   | 0.22%             | 2038-01-29      | Fixed         | 6.62%                 | No            |                  2 | On Loan: —       |
| Aker BP ASA                                            | Aker BP ASA                                                                       | CUSIP: 00973RAM5<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |   1235000 | PA      | $1294243.60   | 0.09%             | 2033-06-13      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| International Petroleum Corp.                          | International Petroleum Corp.                                                     | CUSIP: N/A<br>LEI: 54930025D80LU0SMR645       | Long             | DBT              | CORP              | CA        |  13520000 | PA      | $13389638.27  | 0.92%             | 2030-10-10      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                  | FHLMC Structured Agency Credit Risk REMIC Trust, Series 2025-HQA1, Class M2       | CUSIP: 35564NHA4<br>LEI: 529900MBUPRSJMB6GN48 | Long             | ABS-MBS          | CORP              | US        |   1240000 | PA      | $1242337.90   | 0.09%             | 2045-02-25      | Floating      | 5.83%                 | Yes           |                  2 | On Loan: No      |
| PRPM                                                   | PRPM, Series 2024-NQM3, Class B1                                                  | CUSIP: 69381FAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2610000 | PA      | $2637864.88   | 0.18%             | 2069-08-25      | Variable      | 7.41%                 | Yes           |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                             | J.P. Morgan Mortgage Trust, Series 2021-8, Class AX1                              | CUSIP: 46592TBS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  23439096 | PA      | $147666.31    | 0.01%             | 2051-12-25      | Variable      | 0.11%                 | Yes           |                  2 | On Loan: No      |
| MAREX CAPITAL MARKETS INC                              | Treasury Repurchase Agreement                                                     | CUSIP: N/A<br>LEI: 5493006BWPDUCYG6EQ34       | Long             | RA               | CORP              | US        |  30000000 | PA      | $30000000.00  | 2.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                              | Ford Motor Credit Co. LLC                                                         | CUSIP: 345397G56<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2470000 | PA      | $2556328.48   | 0.18%             | 2035-02-07      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| Mystic Re IV Ltd.                                      | Mystic Re IV Ltd., Series A                                                       | CUSIP: 62865LAE7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    750000 | PA      | $797250.00    | 0.05%             | 2027-01-08      | Floating      | 15.92%                | Yes           |                  2 | On Loan: No      |
| Saudi Arabian Oil Co.                                  | Saudi Arabian Oil Co.                                                             | CUSIP: 80414L3F0<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | NUSS              | SA        |   9220000 | PA      | $9940026.13   | 0.68%             | 2055-06-02      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Aquila Re I Ltd.                                       | Aquila Re I Ltd., Series A-1                                                      | CUSIP: 03843AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $256425.00    | 0.02%             | 2026-06-08      | Floating      | 9.21%                 | Yes           |                  2 | On Loan: No      |
| Radnor RE Ltd.                                         | Radnor RE Ltd., Series 2023-1, Class M1A                                          | CUSIP: 75050KAA4<br>LEI: 254900P3K895250PCC81 | Long             | ABS-MBS          | CORP              | BM        |    490879 | PA      | $492810.91    | 0.03%             | 2033-07-25      | Floating      | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                    | Connecticut Avenue Securities Trust, Series 2025-R06, Class 1M1                   | CUSIP: 20754YAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3780562 | PA      | $3778228.81   | 0.26%             | 2045-09-25      | Floating      | 5.13%                 | Yes           |                  2 | On Loan: No      |
| Transocean International Ltd.                          | Transocean International Ltd.                                                     | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |    266250 | PA      | $279383.85    | 0.02%             | 2030-02-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Enbridge, Inc.                                         | Enbridge, Inc.                                                                    | CUSIP: 29250NCG8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    490000 | PA      | $520672.53    | 0.04%             | 2055-03-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: —       |
| Uniti Group LP                                         | Uniti Group LP                                                                    | CUSIP: 91327AAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7400000 | PA      | $6634085.72   | 0.45%             | 2030-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Vista Point Securitization Trust                       | Vista Point Securitization Trust, Series 2024-CES1, Class A1                      | CUSIP: 92839HAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1007486 | PA      | $1018203.35   | 0.07%             | 2054-05-25      | Variable      | 6.68%                 | Yes           |                  2 | On Loan: No      |
| Duke Energy Corp.                                      | Duke Energy Corp.                                                                 | CUSIP: 26441CBU8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1105000 | PA      | $998049.72    | 0.07%             | 2052-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| 123 Lights Re Ltd.                                     | 123 Lights Re Ltd., Series A                                                      | CUSIP: 68302QAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $249625.00    | 0.02%             | 2028-09-14      | Floating      | 14.90%                | Yes           |                  2 | On Loan: No      |
| Kilimanjaro II Re Ltd.                                 | Kilimanjaro II Re Ltd., Series C-1                                                | CUSIP: 49407QAL2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1032300.00   | 0.07%             | 2029-07-09      | Floating      | 7.84%                 | Yes           |                  2 | On Loan: No      |
| Merna Reinsurance II Ltd.                              | Merna Reinsurance II Ltd., Series A                                               | CUSIP: 59013MAK8<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $266925.00    | 0.02%             | 2027-07-07      | Floating      | 11.35%                | Yes           |                  2 | On Loan: No      |
| Commonwealth RE Ltd.                                   | Commonwealth RE Ltd., Series A                                                    | CUSIP: 203235AC0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $513400.00    | 0.04%             | 2028-07-10      | Floating      | 7.64%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                             | Verus Securitization Trust, Series 2024-3, Class B1                               | CUSIP: 92540MAE5<br>LEI: 2138005NRONUFED1TZ38 | Long             | ABS-MBS          | CORP              | US        |   2125000 | PA      | $2170941.65   | 0.15%             | 2069-04-25      | Variable      | 8.03%                 | Yes           |                  2 | On Loan: No      |
| Directv Financing LLC                                  | Directv Financing LLC, First Lien Term Loan B                                     | CUSIP: 25460HAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    446525 | PA      | $446944.73    | 0.03%             | 2029-08-02      | Variable      | 9.82%                 | No            |                  2 | On Loan: No      |
| Liberty Mutual Insurance Co.                           | Liberty Mutual Insurance Co.                                                      | CUSIP: 53079QAD9<br>LEI: CNC20I6IOMGF7KY49D67 | Long             | DBT              | CORP              | US        |    420000 | PA      | $483758.97    | 0.03%             | 2097-10-15      | Fixed         | 7.70%                 | Yes           |                  2 | On Loan: No      |
| Nomura Holdings, Inc.                                  | Nomura Holdings, Inc.                                                             | CUSIP: 65535HBV0<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |   1335000 | PA      | $1415380.22   | 0.10%             | 2034-07-03      | Fixed         | 5.78%                 | No            |                  2 | On Loan: —       |
| American Honda Finance Corp.                           | American Honda Finance Corp.                                                      | CUSIP: 02665WFL0<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   3065000 | PA      | $3150527.97   | 0.22%             | 2031-07-10      | Fixed         | 5.05%                 | No            |                  2 | On Loan: —       |
| FHLMC                                                  | FHLMC STACR REMIC Trust, Series 2022-DNA1, Class M2                               | CUSIP: 35564KQC6<br>LEI: 5493000ISBDRXIMCHZ70 | Long             | ABS-MBS          | CORP              | US        |    180000 | PA      | $183098.52    | 0.01%             | 2042-01-25      | Floating      | 6.68%                 | Yes           |                  2 | On Loan: No      |
| Genesee Street Re Ltd.                                 | Genesee Street Re Ltd., Series 2025                                               | CUSIP: 37173WAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $507800.00    | 0.03%             | 2028-04-07      | Floating      | 7.09%                 | Yes           |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                     | General Motors Financial Co., Inc.                                                | CUSIP: 37045XED4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1365000 | PA      | $1470769.10   | 0.10%             | 2033-01-09      | Fixed         | 6.40%                 | No            |                  2 | On Loan: —       |
| Verus Securitization Trust                             | Verus Securitization Trust, Series 2023-INV3, Class B1                            | CUSIP: 92540CAE7<br>LEI: 9845008F97BFO762AF95 | Long             | ABS-MBS          | CORP              | US        |   1955000 | PA      | $1982391.51   | 0.14%             | 2068-11-25      | Variable      | 8.18%                 | Yes           |                  2 | On Loan: No      |
| Avianca Midco 2 plc                                    | Avianca Midco 2 plc                                                               | CUSIP: 05369YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   6450000 | PA      | $6398400.00   | 0.44%             | 2030-02-14      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| Bellemeade Re Ltd.                                     | Bellemeade Re Ltd., Series 2024-1, Class M1B                                      | CUSIP: 078915AB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |   1320000 | PA      | $1331819.81   | 0.09%             | 2034-08-25      | Floating      | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Sumitomo Life Insurance Co.                            | Sumitomo Life Insurance Co.                                                       | CUSIP: 86564CAF7<br>LEI: 549300I5OQCDADQSPI57 | Long             | DBT              | CORP              | JP        |  16500000 | PA      | $16853677.50  | 1.16%             | 2055-09-10      | Variable      | 5.88%                 | Yes           |                  2 | On Loan: —       |
| Energy Transfer LP                                     | Energy Transfer LP, Series G                                                      | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    859000 | PA      | $883765.20    | 0.06%             | 2030-05-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| Bridge Street Re Ltd.                                  | Bridge Street Re Ltd., Series A                                                   | CUSIP: 10807LAA5<br>LEI: 2549008NKPLMU6X7ID58 | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1021700.00   | 0.07%             | 2028-01-07      | Floating      | 7.89%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                      | GLS Auto Receivables Issuer Trust, Series 2025-2A, Class D                        | CUSIP: 37989BAL6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    920000 | PA      | $929035.60    | 0.06%             | 2031-01-15      | Fixed         | 5.59%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                          | Starwood Property Trust, Inc.                                                     | CUSIP: 85571BBG9<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   1410000 | PA      | $1429897.67   | 0.10%             | 2031-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: —       |
| Progress Residential Trust                             | Progress Residential Trust, Series 2021-SFR9, Class F                             | CUSIP: 74333QAN5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    390000 | PA      | $377361.82    | 0.03%             | 2040-11-17      | Fixed         | 4.05%                 | Yes           |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                     | Ally Bank Auto Credit-Linked Notes, Series 2025-A, Class E                        | CUSIP: 02007G5H2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4782474 | PA      | $4774844.56   | 0.33%             | 2033-06-15      | Fixed         | 6.07%                 | Yes           |                  2 | On Loan: No      |
| DEUTSCHE BANK SECURITIES INC.                          | Treasury Repurchase Agreement                                                     | CUSIP: N/A<br>LEI: 9J6MBOOO7BECTDTUZW19       | Long             | RA               | CORP              | US        |    119758 | PA      | $119757.50    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Mayflower Re Ltd.                                      | Mayflower Re Ltd., Series A                                                       | CUSIP: 57839MAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $515500.00    | 0.04%             | 2027-07-08      | Floating      | 8.80%                 | Yes           |                  2 | On Loan: No      |
| TRTX Issuer Ltd.                                       | TRTX Issuer Ltd., Series 2022-FL5, Class A                                        | CUSIP: 87277JAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1359744 | PA      | $1359197.53   | 0.09%             | 2039-02-15      | Floating      | 5.68%                 | Yes           |                  2 | On Loan: No      |
| Novelis Corp.                                          | Novelis Corp.                                                                     | CUSIP: 670001AN6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   7265000 | PA      | $7360716.38   | 0.50%             | 2033-08-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: —       |
| PRM Trust                                              | PRM Trust, Series 2025-PRM6, Class F                                              | CUSIP: 74277DAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1820000 | PA      | $1819209.21   | 0.12%             | 2033-07-05      | Variable      | 7.06%                 | Yes           |                  2 | On Loan: No      |
| Tricon Residential Trust                               | Tricon Residential Trust, Series 2022-SFR2, Class E                               | CUSIP: 89616TAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    345000 | PA      | $349377.60    | 0.02%             | 2040-07-17      | Fixed         | 7.51%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                   | GNMA, Series 2016-145, Class UI                                                   | CUSIP: 38380BHW8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     49909 | PA      | $8671.40      | 0.00%             | 2046-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Chartwell RE Ltd.                                      | Chartwell RE Ltd., Series B                                                       | CUSIP: 16140YAB8<br>LEI: 984500FFT645KFFE6F50 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $259725.00    | 0.02%             | 2028-06-07      | Floating      | 10.91%                | Yes           |                  2 | On Loan: No      |
| American Electric Power Co., Inc.                      | American Electric Power Co., Inc., Series C                                       | CUSIP: 02557TAE9<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   5740000 | PA      | $5750366.44   | 0.39%             | 2056-03-15      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| N/A                                                    | CDS                                                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        |    462712 | PA      | $-3273.35     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth Bank of Australia                         | Commonwealth Bank of Australia                                                    | CUSIP: 2027A0KY4<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |   4670000 | PA      | $4704740.13   | 0.32%             | 2030-03-14      | Floating      | 5.10%                 | Yes           |                  2 | On Loan: —       |
| General Motors Financial Co., Inc.                     | General Motors Financial Co., Inc.                                                | CUSIP: 37045XFL5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1880000 | PA      | $1875429.25   | 0.13%             | 2028-10-27      | Fixed         | 4.20%                 | No            |                  2 | On Loan: —       |
| Veraison Re Ltd.                                       | Veraison Re Ltd., Series A                                                        | CUSIP: 92335TAD1<br>LEI: 2549007WYB39A966J434 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $252850.00    | 0.02%             | 2028-03-08      | Floating      | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Triangle Re Ltd.                                       | Triangle Re Ltd., Series 2023-1, Class M1B                                        | CUSIP: 89589AAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1640000 | PA      | $1714980.64   | 0.12%             | 2033-11-25      | Floating      | 9.43%                 | Yes           |                  2 | On Loan: No      |
| Darden Restaurants, Inc.                               | Darden Restaurants, Inc.                                                          | CUSIP: 237194AN5<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | DBT              | CORP              | US        |   2610000 | PA      | $2831117.66   | 0.19%             | 2033-10-10      | Fixed         | 6.30%                 | No            |                  2 | On Loan: —       |
| Acorn Re Ltd.                                          | Acorn Re Ltd., Series B                                                           | CUSIP: 00485YAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $249750.00    | 0.02%             | 2025-11-07      | Floating      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| A&D Mortgage Trust                                     | A&D Mortgage Trust, Series 2023-NQM3, Class B1                                    | CUSIP: 00249FAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2880000 | PA      | $2896601.47   | 0.20%             | 2068-07-25      | Variable      | 8.12%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                   | GNMA, Series 2016-17, Class JS                                                    | CUSIP: 38379T5H8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     65973 | PA      | $7796.19      | 0.00%             | 2046-02-20      | Floating      | 1.95%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                         | Morgan Stanley                                                                    | CUSIP: 61747YES0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1690000 | PA      | $1718591.44   | 0.12%             | 2037-04-20      | Variable      | 5.30%                 | No            |                  2 | On Loan: —       |
| GNMA                                                   | GNMA, Series 2019-159, Class HI                                                   | CUSIP: 38382BKH5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    926273 | PA      | $154436.17    | 0.01%             | 2049-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Arivo Acceptance Auto Loan Receivables Trust           | Arivo Acceptance Auto Loan Receivables Trust, Series 2024-1A, Class B             | CUSIP: 039943AB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2410000 | PA      | $2465342.28   | 0.17%             | 2030-06-17      | Fixed         | 6.87%                 | Yes           |                  2 | On Loan: No      |
| MFA Trust                                              | MFA Trust, Series 2023-RTL2, Class A1                                             | CUSIP: 55286UAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1826000 | PA      | $1835727.28   | 0.13%             | 2028-11-25      | Variable      | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Bluebonnet RE Ltd.                                     | Bluebonnet RE Ltd., Series A                                                      | CUSIP: 09610NAA0<br>LEI: 2549007DQLA6K2ACFN15 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $527700.00    | 0.04%             | 2028-06-07      | Floating      | 9.62%                 | Yes           |                  2 | On Loan: No      |
| Torrey Pines Re Ltd.                                   | Torrey Pines Re Ltd., Series A                                                    | CUSIP: 89141WAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $511700.00    | 0.04%             | 2028-06-07      | Floating      | 7.63%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                        | Citigroup, Inc.                                                                   | CUSIP: 17327CAR4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    690000 | PA      | $732779.61    | 0.05%             | 2034-05-25      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                     | Ally Bank Auto Credit-Linked Notes, Series 2024-B, Class F                        | CUSIP: 02007G4G5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    757402 | PA      | $767692.18    | 0.05%             | 2032-09-15      | Fixed         | 8.04%                 | Yes           |                  2 | On Loan: No      |
| Imperial Fund Mortgage Trust                           | Imperial Fund Mortgage Trust, Series 2023-NQM1, Class B1                          | CUSIP: 45290BAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2270000 | PA      | $2269750.53   | 0.16%             | 2068-02-25      | Variable      | 8.09%                 | Yes           |                  2 | On Loan: No      |
| Sanders RE II Ltd.                                     | Sanders RE II Ltd., Series A                                                      | CUSIP: 80001RAA9<br>LEI: 254900VRQU0N0MF3CT92 | Long             | DBT              | CORP              | BM        |   2250000 | PA      | $2294775.00   | 0.16%             | 2029-04-07      | Floating      | 7.88%                 | Yes           |                  2 | On Loan: No      |
| CaixaBank SA                                           | CaixaBank SA                                                                      | CUSIP: 12803RAH7<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |    540000 | PA      | $574935.12    | 0.04%             | 2035-06-15      | Variable      | 6.04%                 | Yes           |                  2 | On Loan: No      |
| Cruise Yacht Upper HoldCo Ltd.                         | Cruise Yacht Upper HoldCo Ltd.                                                    | CUSIP: N/A<br>LEI: 984500DE088QEE80G074       | Long             | DBT              | CORP              | MT        |   1200000 | PA      | $1072544.00   | 0.07%             | 2028-07-05      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| First Coast Re IV Ltd.                                 | First Coast Re IV Ltd., Series A                                                  | CUSIP: 31969UAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $519350.00    | 0.04%             | 2028-03-10      | Floating      | 10.35%                | Yes           |                  2 | On Loan: No      |
| Integrity RE III Ltd.                                  | Integrity RE III Ltd., Series B-2                                                 | CUSIP: 45870GAD8<br>LEI: 254900VWHVNG2WMBWC74 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $528200.00    | 0.04%             | 2028-06-06      | Floating      | 13.59%                | Yes           |                  2 | On Loan: No      |
| Citadel Securities Global Holdings LLC                 | Citadel Securities Global Holdings LLC                                            | CUSIP: 17289RAB2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | DBT              | CORP              | US        |   2211000 | PA      | $2319701.60   | 0.16%             | 2035-06-18      | Fixed         | 6.20%                 | Yes           |                  2 | On Loan: No      |
| Grupo Aeromexico SAB de CV                             | Grupo Aeromexico SAB de CV                                                        | CUSIP: 40054JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |   6400000 | PA      | $6417964.48   | 0.44%             | 2031-11-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Vitality Re XIII Ltd.                                  | Vitality Re XIII Ltd., Series A                                                   | CUSIP: 92849MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    250000 | PA      | $250100.00    | 0.02%             | 2026-01-06      | Floating      | 5.87%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                  | FHLMC Seasoned Credit Risk Transfer Trust, Series 2017-1, Class M2                | CUSIP: 35563PAT6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1261635 | PA      | $1220650.91   | 0.08%             | 2056-01-25      | Variable      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                         | Morgan Stanley                                                                    | CUSIP: 61747YFB6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    740000 | PA      | $775796.50    | 0.05%             | 2038-01-19      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| Aker BP ASA                                            | Aker BP ASA                                                                       | CUSIP: 00973RAN3<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |   5720000 | PA      | $5621011.45   | 0.39%             | 2034-10-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Kilimanjaro II Re Ltd.                                 | Kilimanjaro II Re Ltd., Series B                                                  | CUSIP: 49407QAH1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $526350.00    | 0.04%             | 2028-06-30      | Floating      | 11.13%                | Yes           |                  2 | On Loan: No      |
| Residential Reinsurance 2004 Ltd.                      | Residential Reinsurance 2004 Ltd., Series 4                                       | CUSIP: 76112AAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    750000 | PA      | $782550.00    | 0.05%             | 2028-12-06      | Floating      | 9.22%                 | Yes           |                  2 | On Loan: No      |
| Sanders Re III Ltd.                                    | Sanders Re III Ltd., Series A                                                     | CUSIP: 80000XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $504950.00    | 0.03%             | 2026-04-07      | Floating      | 7.22%                 | Yes           |                  2 | On Loan: No      |
| BPCE SA                                                | BPCE SA                                                                           | CUSIP: 05571AAY1<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   1375000 | PA      | $1442105.42   | 0.10%             | 2035-05-30      | Variable      | 5.94%                 | Yes           |                  2 | On Loan: No      |
| Residential Reinsurance 2004 Ltd.                      | Residential Reinsurance 2004 Ltd., Series 3                                       | CUSIP: 76112AAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    750000 | PA      | $782700.00    | 0.05%             | 2028-12-06      | Floating      | 10.78%                | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                                | Hyundai Capital America                                                           | CUSIP: 44891ACY1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2565702.73   | 0.18%             | 2029-03-19      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                           | GS Mortgage Securities Trust, Series 2016-GS4, Class D                            | CUSIP: 36251XAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1340000 | PA      | $1132320.77   | 0.08%             | 2049-11-10      | Variable      | 3.23%                 | Yes           |                  2 | On Loan: No      |
| Sakura RE Ltd.                                         | Sakura RE Ltd., Series A                                                          | CUSIP: 79381MAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $250550.00    | 0.02%             | 2029-04-05      | Floating      | 6.59%                 | Yes           |                  2 | On Loan: No      |
| Commonwealth Bank of Australia                         | Commonwealth Bank of Australia                                                    | CUSIP: 202712BX2<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |   1740000 | PA      | $1811432.69   | 0.12%             | 2046-03-14      | Variable      | 5.93%                 | Yes           |                  2 | On Loan: —       |
| NMEF Funding LLC                                       | NMEF Funding LLC, Series 2025-B, Class E                                          | CUSIP: 62919WAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2000547.80   | 0.14%             | 2033-01-18      | Fixed         | 7.66%                 | Yes           |                  2 | On Loan: No      |
| Allianz SE                                             | Allianz SE                                                                        | CUSIP: 018820AE0<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |   6000000 | PA      | $6213024.00   | 0.43%             | 2033-10-30      | Variable      | 6.55%                 | Yes           |                  2 | On Loan: —       |
| Connecticut Avenue Securities Trust                    | Connecticut Avenue Securities Trust, Series 2021-R03, Class 1B2                   | CUSIP: 20754AAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2470000 | PA      | $2571012.63   | 0.18%             | 2041-12-25      | Floating      | 9.68%                 | Yes           |                  2 | On Loan: No      |
| Greystone CRE Notes LLC                                | Greystone CRE Notes LLC, Series 2025-FL4, Class C                                 | CUSIP: 39810MAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2877000 | PA      | $2883289.12   | 0.20%             | 2043-01-15      | Floating      | 6.92%                 | Yes           |                  2 | On Loan: No      |
| International Bank for Reconstruction & Development    | International Bank for Reconstruction & Development, Series D                     | CUSIP: N/A<br>LEI: ZTMSNXROF84AHWJNKQ93       | Long             | DBT              | NUSS              | US        |    250000 | PA      | $264350.00    | 0.02%             | 2028-04-24      | Floating      | 16.46%                | Yes           |                  2 | On Loan: No      |
| Four Lakes Re Ltd.                                     | Four Lakes Re Ltd., Series A                                                      | CUSIP: 35087TAG3<br>LEI: 549300MG4RRU6DT7MN54 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $508650.00    | 0.03%             | 2028-01-07      | Floating      | 9.50%                 | Yes           |                  2 | On Loan: No      |
| 1261229 BC Ltd.                                        | 1261229 BC Ltd.                                                                   | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   5345000 | PA      | $5587179.44   | 0.38%             | 2032-04-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                               | COLT Mortgage Loan Trust, Series 2024-4, Class B1                                 | CUSIP: 19688WAE8<br>LEI: 213800KKXAZ8LJ3W5A65 | Long             | ABS-MBS          | CORP              | US        |   2080000 | PA      | $2125275.78   | 0.15%             | 2069-07-25      | Variable      | 7.82%                 | Yes           |                  2 | On Loan: No      |
| Vitality Re XIII Ltd.                                  | Vitality Re XIII Ltd., Series B                                                   | CUSIP: 92849MAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    300000 | PA      | $300360.00    | 0.02%             | 2026-01-06      | Floating      | 6.62%                 | Yes           |                  2 | On Loan: No      |
| CaixaBank SA                                           | CaixaBank SA                                                                      | CUSIP: 12803RAC8<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   1015000 | PA      | $1131901.92   | 0.08%             | 2034-09-13      | Variable      | 6.84%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                          | Freedom Mortgage Holdings LLC                                                     | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |   5180000 | PA      | $5506474.68   | 0.38%             | 2031-05-15      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: —       |
| Norinchukin Bank (The)                                 | Norinchukin Bank (The)                                                            | CUSIP: 656029AP0<br>LEI: 5493007VSMFZCPV1NB83 | Long             | DBT              | CORP              | JP        |   2535000 | PA      | $2550567.56   | 0.17%             | 2030-09-09      | Fixed         | 4.67%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Select Receivables Trust                      | GLS Auto Select Receivables Trust, Series 2024-1A, Class D                        | CUSIP: 37988XAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2060000 | PA      | $2134113.24   | 0.15%             | 2031-01-15      | Fixed         | 6.43%                 | Yes           |                  2 | On Loan: No      |
| Montoya Re Ltd.                                        | Montoya Re Ltd., Series A                                                         | CUSIP: 613752AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $262475.00    | 0.02%             | 2026-04-07      | Floating      | 17.27%                | Yes           |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands II BV          | Teva Pharmaceutical Finance Netherlands II BV                                     | CUSIP: N/A<br>LEI: 549300HSQCIKJAOYIT23       | Long             | DBT              | CORP              | NL        |   4007000 | PA      | $4760164.33   | 0.33%             | 2030-05-09      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                           | UBS Group AG                                                                      | CUSIP: 902613AV0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1110000 | PA      | $1186337.83   | 0.08%             | 2034-01-12      | Variable      | 5.96%                 | Yes           |                  2 | On Loan: —       |
| Comerica Bank                                          | Comerica Bank                                                                     | CUSIP: 200339EX3<br>LEI: 70WY0ID1N53Q4254VH70 | Long             | DBT              | CORP              | US        |   1610000 | PA      | $1616899.45   | 0.11%             | 2033-08-25      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| Transocean Titan Financing Ltd.                        | Transocean Titan Financing Ltd.                                                   | CUSIP: 89386MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     97143 | PA      | $99826.04     | 0.01%             | 2028-02-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: —       |
| Octane Receivables Trust                               | Octane Receivables Trust, Series 2022-2A, Class D                                 | CUSIP: 67578XAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1275000 | PA      | $1314949.45   | 0.09%             | 2030-02-20      | Fixed         | 7.70%                 | Yes           |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                     | Ally Bank Auto Credit-Linked Notes, Series 2024-A, Class E                        | CUSIP: 02007GZ89<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    284926 | PA      | $290106.99    | 0.02%             | 2032-05-17      | Fixed         | 7.92%                 | Yes           |                  2 | On Loan: No      |
| ABRA Global Finance                                    | ABRA Global Finance                                                               | CUSIP: 000852AC7<br>LEI: 2549007QS3P0D4KT9G26 | Long             | DBT              | CORP              | KY        |   8985031 | PA      | $8803084.12   | 0.60%             | 2029-10-22      | Fixed         | 14.00%                | Yes           |                  2 | On Loan: No      |
| Winston RE Ltd.                                        | Winston RE Ltd., Series A                                                         | CUSIP: 975660AC5<br>LEI: 2549001Q4VX5Y31QFJ88 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $520750.00    | 0.04%             | 2028-02-21      | Floating      | 10.37%                | Yes           |                  2 | On Loan: No      |
| FloodSmart Re Ltd.                                     | FloodSmart Re Ltd., Series A                                                      | CUSIP: 33975CAM7<br>LEI: 549300KK1LNVFW95S875 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $517950.00    | 0.04%             | 2026-03-11      | Floating      | 21.02%                | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                         | BNP Paribas SA                                                                    | CUSIP: 09659W3A0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   3170000 | PA      | $3318367.38   | 0.23%             | 2033-01-13      | Variable      | 5.79%                 | Yes           |                  2 | On Loan: —       |
| First Quantum Minerals Ltd.                            | First Quantum Minerals Ltd.                                                       | CUSIP: 335934AX3<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   1775000 | PA      | $1843357.03   | 0.13%             | 2034-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: —       |
| Upstart Securitization Trust                           | Upstart Securitization Trust, Series 2025-2, Class C                              | CUSIP: 91679EAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4044000 | PA      | $4080731.65   | 0.28%             | 2035-06-20      | Fixed         | 6.02%                 | Yes           |                  2 | On Loan: No      |
| Baldwin Re Ltd.                                        | Baldwin Re Ltd., Series A                                                         | CUSIP: 05826BAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1250000 | PA      | $1290875.00   | 0.09%             | 2029-07-09      | Floating      | 7.63%                 | Yes           |                  2 | On Loan: No      |
| Eagle RE Ltd.                                          | Eagle RE Ltd., Series 2023-1, Class M1B                                           | CUSIP: 26982EAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |   2060000 | PA      | $2119586.53   | 0.15%             | 2033-09-26      | Floating      | 8.13%                 | Yes           |                  2 | On Loan: No      |
| WOM Mobile SA                                          | WOM Mobile SA                                                                     | CUSIP: 97810LAA7<br>LEI: 549300T600VUO0QJ3063 | Long             | DBT              | CORP              | CL        |    350501 | PA      | $334728.46    | 0.02%             | 2031-04-01      | Variable      | 11.00%                | Yes           |                  2 | On Loan: No      |
| Enbridge, Inc.                                         | Enbridge, Inc.                                                                    | CUSIP: 29250NCC7<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    730000 | PA      | $761891.73    | 0.05%             | 2034-04-05      | Fixed         | 5.62%                 | No            |                  2 | On Loan: —       |
| Westlake Automobile Receivables Trust                  | Westlake Automobile Receivables Trust, Series 2024-2A, Class D                    | CUSIP: 96042YAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2320000 | PA      | $2367213.86   | 0.16%             | 2030-04-15      | Fixed         | 5.91%                 | Yes           |                  2 | On Loan: No      |
| Kuwait International Government Bond                   | State of Kuwait                                                                   | CUSIP: 501499AF4<br>LEI: 549300FSC1YD0D9XX589 | Long             | DBT              | NUSS              | KW        |   9030000 | PA      | $9069516.82   | 0.62%             | 2035-10-09      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                    | U.S. Treasury Ultra Bond                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -374 | NC      | $-1139978.09  | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| MF1                                                    | MF1, Series 2024-FL15, Class A                                                    | CUSIP: 58003MAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1800000 | PA      | $1804453.38   | 0.12%             | 2041-08-18      | Floating      | 5.72%                 | Yes           |                  2 | On Loan: No      |
| Republic of Peru                                       | Republic of Peru                                                                  | CUSIP: 715638FC1<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |   8230000 | PA      | $8427108.50   | 0.58%             | 2036-03-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Integrity Re Ltd.                                      | Integrity Re Ltd., Series B                                                       | CUSIP: 45833UAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    750000 | PA      | $798750.00    | 0.05%             | 2026-06-06      | Floating      | 17.19%                | Yes           |                  2 | On Loan: No      |
| Tricida, Inc.                                          | Tricida, Inc.                                                                     | CUSIP: 896LIQAM6<br>LEI: 549300QVPFFJC8SZXG25 | Long             | DBT              | CORP              | US        |    715000 | PA      | $0.00         | 0.00%             | 2027-05-15      | Fixed         | 3.50%                 | No            |                  3 | On Loan: No      |
| HSBC Holdings plc                                      | HSBC Holdings plc                                                                 | CUSIP: 404280FB0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   3040000 | PA      | $3105943.68   | 0.21%             | 2036-09-10      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                  | OneMain Finance Corp.                                                             | CUSIP: 682691AL4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2276460.00   | 0.16%             | 2030-05-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: —       |
| FHLMC                                                  | FHLMC, Series 4395, Class TI                                                      | CUSIP: 3137BEX58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |        10 | PA      | $0.00         | 0.00%             | 2026-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tricida, Inc.                                          | Tricida, Inc.                                                                     | CUSIP: 896CPTAN0<br>LEI: 549300QVPFFJC8SZXG25 | Long             | DBT              | CORP              | US        |    715000 | PA      | $0.00         | 0.00%             | 2027-05-15      | Fixed         | 3.50%                 | No            |                  3 | On Loan: No      |
| UBS Commercial Mortgage Trust                          | UBS Commercial Mortgage Trust, Series 2017-C4, Class C                            | CUSIP: 90276RBK3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    810000 | PA      | $757374.71    | 0.05%             | 2050-10-15      | Variable      | 4.53%                 | No            |                  2 | On Loan: No      |
| Sanders RE II Ltd.                                     | Sanders RE II Ltd., Series B-1                                                    | CUSIP: 80001TAC1<br>LEI: 254900VRQU0N0MF3CT92 | Long             | DBT              | CORP              | BM        |    650000 | PA      | $672685.00    | 0.05%             | 2028-04-07      | Floating      | 8.38%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                    | U.S. Treasury 10 Year Ultra Note                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |     -2153 | NC      | $-2710566.41  | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| FARM Mortgage Trust                                    | FARM Mortgage Trust, Series 2021-1, Class B                                       | CUSIP: 30768WAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    271501 | PA      | $211156.66    | 0.01%             | 2051-07-25      | Variable      | 3.23%                 | Yes           |                  2 | On Loan: No      |
| Foundry JV Holdco LLC                                  | Foundry JV Holdco LLC                                                             | CUSIP: 350930AE3<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    450000 | PA      | $485614.25    | 0.03%             | 2038-01-25      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| Harvest SBA Loan Trust                                 | Harvest SBA Loan Trust, Series 2024-1, Class A                                    | CUSIP: 41756NAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1455935 | PA      | $1465855.77   | 0.10%             | 2051-12-25      | Floating      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| British Pound                                          | British Pound                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | GB        |         0 | OU      | $0.01         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                                        | Citigroup, Inc.                                                                   | CUSIP: 172967PU9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   7250000 | PA      | $7584883.95   | 0.52%             | 2036-01-24      | Variable      | 6.02%                 | No            |                  2 | On Loan: No      |
| Queen Street 2023 RE DAC                               | Queen Street 2023 RE DAC, Series A                                                | CUSIP: 747977AA4<br>LEI: 635400VHHVVMXL5BJI05 | Long             | DBT              | CORP              | IE        |    750000 | PA      | $753750.00    | 0.05%             | 2025-12-08      | Floating      | 11.34%                | Yes           |                  2 | On Loan: No      |
| Bonanza RE Ltd.                                        | Bonanza RE Ltd., Series A                                                         | CUSIP: 09785EAK7<br>LEI: 5493003F0CXUQ2C83105 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $252375.00    | 0.02%             | 2026-01-08      | Floating      | 11.89%                | Yes           |                  2 | On Loan: No      |
| CaixaBank SA                                           | CaixaBank SA                                                                      | CUSIP: 12803RAM6<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   2105000 | PA      | $2162181.46   | 0.15%             | 2036-07-03      | Variable      | 5.58%                 | Yes           |                  2 | On Loan: No      |
| Residential Reinsurance 2021 Ltd.                      | Residential Reinsurance 2021 Ltd., Series 3                                       | CUSIP: 76114NAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    500000 | PA      | $501250.00    | 0.03%             | 2025-12-08      | Floating      | 9.62%                 | Yes           |                  2 | On Loan: No      |
| RGA Global Funding                                     | RGA Global Funding                                                                | CUSIP: 76209PAJ2<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |   4050000 | PA      | $4076717.53   | 0.28%             | 2032-08-25      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Vitality Re XIV Ltd.                                   | Vitality Re XIV Ltd., Series A                                                    | CUSIP: 92851QAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    500000 | PA      | $511300.00    | 0.04%             | 2027-01-05      | Floating      | 7.37%                 | Yes           |                  2 | On Loan: No      |
| SoFi Consumer Loan Program Trust                       | SoFi Consumer Loan Program Trust, Series 2025-4, Class C                          | CUSIP: 83405UAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1190000 | PA      | $1191137.88   | 0.08%             | 2035-08-25      | Fixed         | 4.91%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                           | UBS Group AG                                                                      | CUSIP: 225401BG2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    365000 | PA      | $398758.47    | 0.03%             | 2034-09-22      | Variable      | 6.30%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                    | Connecticut Avenue Securities Trust, Series 2024-R06, Class 1M2                   | CUSIP: 20755RAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1990000 | PA      | $1993741.20   | 0.14%             | 2044-09-25      | Floating      | 5.78%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                      | GLS Auto Receivables Issuer Trust, Series 2025-1A, Class E                        | CUSIP: 36271KAN1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2100000 | PA      | $2127107.85   | 0.15%             | 2032-03-15      | Fixed         | 7.19%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                         | BNP Paribas SA                                                                    | CUSIP: 09659W3D4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   9500000 | PA      | $9661247.78   | 0.66%             | 2031-05-09      | Variable      | 5.08%                 | Yes           |                  2 | On Loan: —       |
| American Airlines, Inc.                                | American Airlines, Inc.                                                           | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $191699.93    | 0.01%             | 2029-04-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: —       |
| Palm RE Ltd.                                           | Palm RE Ltd., Series A                                                            | CUSIP: 69664FAA6<br>LEI: 984500D3C66DA10DAP11 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $267350.00    | 0.02%             | 2027-06-07      | Floating      | 13.54%                | Yes           |                  2 | On Loan: No      |
| Radnor RE Ltd.                                         | Radnor RE Ltd., Series 2023-1, Class M1B                                          | CUSIP: 75050KAB2<br>LEI: 254900P3K895250PCC81 | Long             | ABS-MBS          | CORP              | BM        |    330000 | PA      | $339901.68    | 0.02%             | 2033-07-25      | Floating      | 8.53%                 | Yes           |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                    | Exeter Automobile Receivables Trust, Series 2025-3A, Class E                      | CUSIP: 30166XAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2300000 | PA      | $2325528.85   | 0.16%             | 2032-12-15      | Fixed         | 7.52%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial, Inc.                                   | Ally Financial, Inc.                                                              | CUSIP: 02005NBV1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1455000 | PA      | $1506214.28   | 0.10%             | 2035-07-26      | Variable      | 6.18%                 | No            |                  2 | On Loan: —       |
| Montoya Re Ltd.                                        | Montoya Re Ltd., Series A                                                         | CUSIP: 613752AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $509900.00    | 0.03%             | 2028-04-07      | Floating      | 9.58%                 | Yes           |                  2 | On Loan: No      |
| Grupo Nutresa SA                                       | Grupo Nutresa SA                                                                  | CUSIP: 40055CAB9<br>LEI: 254900KKAX7B7RJUE255 | Long             | DBT              | CORP              | CO        |  11635000 | PA      | $13208633.75  | 0.91%             | 2035-05-12      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| KREF Ltd.                                              | KREF Ltd., Series 2022-FL3, Class A                                               | CUSIP: 48275EAA4<br>LEI: 549300DG0FGL1EU1CT79 | Long             | ABS-CBDO         | CORP              | KY        |   2895653 | PA      | $2899859.36   | 0.20%             | 2039-02-17      | Floating      | 5.45%                 | Yes           |                  2 | On Loan: No      |
| Armor RE II Ltd.                                       | Armor RE II Ltd., Series A                                                        | CUSIP: 04227FAF2<br>LEI: 549300X573KDIHEJL317 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $532900.00    | 0.04%             | 2028-01-07      | Floating      | 12.40%                | Yes           |                  2 | On Loan: No      |
| FHLMC                                                  | FHLMC STACR REMIC Trust, Series 2025-DNA4, Class M1                               | CUSIP: 35564UBR7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10660000 | PA      | $10666662.50  | 0.73%             | 2045-10-25      | Floating      | 5.29%                 | Yes           |                  2 | On Loan: No      |
| Windstream Services, LLC                               | Windstream Services LLC, First Lien Term Loan                                     | CUSIP: 97381JAK9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4302000 | PA      | $4248225.00   | 0.29%             | 2032-10-06      | Variable      | 7.96%                 | No            |                  2 | On Loan: No      |
| PRPM Trust                                             | PRPM Trust, Series 2023-NQM2, Class B1                                            | CUSIP: 74390KAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1240000 | PA      | $1241236.78   | 0.09%             | 2068-08-25      | Variable      | 6.90%                 | Yes           |                  2 | On Loan: No      |
| ACRES LLC                                              | ACRES LLC, Series 2025-FL3, Class A                                               | CUSIP: 00501DAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2840000 | PA      | $2842392.13   | 0.19%             | 2040-08-18      | Floating      | 5.65%                 | Yes           |                  2 | On Loan: No      |
| Sanders RE II Ltd.                                     | Sanders RE II Ltd., Series B                                                      | CUSIP: 80001RAB7<br>LEI: 254900VRQU0N0MF3CT92 | Long             | DBT              | CORP              | BM        |   2250000 | PA      | $2337975.00   | 0.16%             | 2029-04-07      | Floating      | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Enbridge, Inc.                                         | Enbridge, Inc.                                                                    | CUSIP: 29250NCF0<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    490000 | PA      | $523332.74    | 0.04%             | 2054-06-27      | Variable      | 7.20%                 | No            |                  2 | On Loan: —       |
| Hypatia Ltd.                                           | Hypatia Ltd., Series A                                                            | CUSIP: 44914CAC0<br>LEI: 98450041F85DB4C2C372 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $259650.00    | 0.02%             | 2026-04-08      | Floating      | 14.34%                | Yes           |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Credit Risk               | FHLMC Multifamily Structured Credit Risk, Series 2021-MN3, Class M2               | CUSIP: 35563GAB5<br>LEI: 549300FK6HM4FW58SP67 | Long             | ABS-MBS          | USGSE             | US        |    815000 | PA      | $844677.25    | 0.06%             | 2051-11-25      | Floating      | 8.18%                 | Yes           |                  2 | On Loan: No      |
| Farmers Insurance Exchange                             | Farmers Insurance Exchange                                                        | CUSIP: 309601AG7<br>LEI: 549300UWG2TLX1GZVT44 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1347759.40   | 0.09%             | 2064-10-15      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trust                        | CSAIL Commercial Mortgage Trust, Series 2015-C4, Class D                          | CUSIP: 12635RBE7<br>LEI: 54930025J96YEH8FQE77 | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $244789.28    | 0.02%             | 2048-11-15      | Variable      | 3.76%                 | No            |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                               | COLT Mortgage Loan Trust, Series 2024-5, Class B1                                 | CUSIP: 19685AAE9<br>LEI: 213800AWBXHFGYDU9Q16 | Long             | ABS-MBS          | CORP              | US        |   3792000 | PA      | $3832260.80   | 0.26%             | 2069-08-25      | Variable      | 7.30%                 | Yes           |                  2 | On Loan: No      |
| Alamo Re Ltd.                                          | Alamo Re Ltd., Series A                                                           | CUSIP: 011395AN0<br>LEI: 5493003E22VRD25G0S03 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $529350.00    | 0.04%             | 2027-06-07      | Floating      | 10.44%                | Yes           |                  2 | On Loan: No      |
| Homeward Opportunities Fund I Trust                    | Homeward Opportunities Fund I Trust, Series 2020-2, Class M1                      | CUSIP: 43789XAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    170000 | PA      | $165309.09    | 0.01%             | 2065-05-25      | Variable      | 3.90%                 | Yes           |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                               | COLT Mortgage Loan Trust, Series 2024-3, Class B1                                 | CUSIP: 19688VAE0<br>LEI: 213800YFAHWZN77V6P52 | Long             | ABS-MBS          | CORP              | US        |   4100000 | PA      | $4184132.82   | 0.29%             | 2069-06-25      | Variable      | 7.87%                 | Yes           |                  2 | On Loan: No      |
| Veraison Re Ltd.                                       | Veraison Re Ltd., Series A                                                        | CUSIP: 92335TAC3<br>LEI: 2549007WYB39A966J434 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $514150.00    | 0.04%             | 2027-03-08      | Floating      | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Collateralized Loan Obligation Ltd.       | Arbor Realty Collateralized Loan Obligation Ltd., Series 2025-BTR1, Class B       | CUSIP: 03881UAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4890000 | PA      | $4874714.84   | 0.33%             | 2041-01-20      | Floating      | 7.19%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                         | Carnival Corp.                                                                    | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   2595000 | PA      | $2633925.00   | 0.18%             | 2029-05-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: —       |
| FIGRE Trust                                            | FIGRE Trust, Series 2025-HE6, Class A                                             | CUSIP: 31684NAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6760000 | PA      | $6739142.70   | 0.46%             | 2055-09-25      | Variable      | 5.04%                 | Yes           |                  2 | On Loan: No      |
| Alpha Generation LLC                                   | Alpha Generation LLC, First Lien Term Loan B                                      | CUSIP: 02072UAC6<br>LEI: 254900K5V62L4YGVKF49 | Long             | LON              | CORP              | US        |   1564200 | PA      | $1565092.00   | 0.11%             | 2031-09-30      | Variable      | 5.96%                 | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                | Volkswagen Group of America Finance LLC                                           | CUSIP: 928668CX8<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   4275000 | PA      | $4305110.11   | 0.30%             | 2030-09-11      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| Garda World Security Corp.                             | Garda World Security Corp.                                                        | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |   5820000 | PA      | $5921727.78   | 0.41%             | 2032-11-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: —       |
| Bonanza RE Ltd.                                        | Bonanza RE Ltd., Series B                                                         | CUSIP: 09785EAP6<br>LEI: 5493003F0CXUQ2C83105 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $253800.00    | 0.02%             | 2027-12-19      | Floating      | 7.61%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-01

**Name of Applicant:** Nationwide Mutual Funds

**Signature:** David Majewski

**Name of Signer:** David Majewski

**Title:** Treasurer