# EDGAR Filing Document

**Accession Number:** 0000353905
**File Stem:** 0002071691-26-002894
**Filing Date:** 2026-2
**Character Count:** 181788
**Document Hash:** 81b8ce5a07ba53adcb946647980ec5af
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-002894.hdr.sgml**: 20260223

**ACCESSION NUMBER**: 0002071691-26-002894

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260223

**DATE AS OF CHANGE**: 20260223

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NATIONWIDE VARIABLE INSURANCE TRUST
- **CENTRAL INDEX KEY:** 0000353905

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03213
- **FILM NUMBER:** 26663915

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NATIONWIDE PLAZA
- **STREET 2:** MAIL CODE 5-02-210
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215
- **BUSINESS PHONE:** 614-435-5749

**MAIL ADDRESS:**
- **STREET 1:** ONE NATIONWIDE PLAZA
- **STREET 2:** MAIL CODE 5-02-210
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GARTMORE VARIABLE INSURANCE TRUST
- **DATE OF NAME CHANGE:** 20020125

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONWIDE SEPARATE ACCOUNT TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONWIDE SEPARATE ACCOUNT MONEY MARKET TRUST
- **DATE OF NAME CHANGE:** 19860226

## Series and Classes Contracts Data

### NVIT Strategic Income Fund (Series ID: S000005423)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014754 | Class I      |  |

## 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 Variable Insurance Trust

- **b. Investment Company Act file number:** 811-03213

- **c. CIK number of Registrant:** 0000353905

- **d. LEI of Registrant:** 549300WLMVM3JP578846

- **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:** NVIT Strategic Income Fund

- **b. EDGAR series identifier (if any):** S000005423

- **c. LEI of Series:** 5493003NBLEW4UFF5S87

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $561965591.99

**Total Liabilities:** $98335678.38

**Net Assets:** $463629913.61

**Cash Not Reported:** $4378185.13

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 146.64620900 | **1-Year:** 6568.68873400 | **5-Year:** 43146.13578300 | **10-Year:** 71583.61792400 | **30-Year:** 19378.25638300

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

- **3-Month:** 90.17416500 | **1-Year:** 5954.71656500 | **5-Year:** 26193.97193200 | **10-Year:** 6071.77664300 | **30-Year:** 137.27898900

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000014754 | 0.33%                | 0.33%                | 0.56%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $381863.40               | $-755053.38                                |
| Month 2  | $204118.68               | $292256.96                                 |
| Month 3  | $-239137.42              | $91402.40                                  |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| A&D Mortgage Trust                                  | A&D Mortgage Trust, Series 2023-NQM4, Class B1                               | CUSIP: 00002MAE9<br>LEI: 9845002EOD0CFAFA4F48 | Long             | ABS-MBS          | CORP              | US        |    930000 | PA      | $942951.18    | 0.20%             | 2068-09-25      | Variable      | 8.05%                 | Yes           |                  2 | On Loan: No      |
| ABRA Global Finance                                 | ABRA Global Finance                                                          | CUSIP: 000852AC7<br>LEI: 2549007QS3P0D4KT9G26 | Long             | DBT              | CORP              | KY        |   2773904 | PA      | $2772239.66   | 0.60%             | 2029-10-22      | Fixed         | 14.00%                | Yes           |                  2 | On Loan: No      |
| ASG Finance DAC                                     | ASG Finance DAC                                                              | CUSIP: 00217AAB2<br>LEI: 5493005UOB0OMEJ4WK10 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $177341.89    | 0.04%             | 2029-05-15      | Fixed         | 9.75%                 | 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        |    770000 | PA      | $778999.91    | 0.17%             | 2068-07-25      | Variable      | 8.10%                 | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                             | American Airlines, Inc.                                                      | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    345000 | PA      | $351326.96    | 0.08%             | 2029-04-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: —       |
| ACHM Trust                                          | ACHM Trust, Series 2025-HE3, Class A                                         | CUSIP: 00449VAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2410000 | PA      | $2409355.96   | 0.52%             | 2055-11-25      | Variable      | 5.20%                 | Yes           |                  2 | On Loan: No      |
| African Export-Import Bank (The)                    | African Export-Import Bank (The)                                             | CUSIP: 008281BK2<br>LEI: 549300LNCLMO3ITVCU07 | Long             | DBT              | NUSS              | US        |   2366000 | PA      | $2360736.74   | 0.51%             | 2035-05-07      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| Aker BP ASA                                         | Aker BP ASA                                                                  | CUSIP: 00973RAM5<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |   2005000 | PA      | $2098143.12   | 0.45%             | 2033-06-13      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Aker BP ASA                                         | Aker BP ASA                                                                  | CUSIP: 00973RAQ6<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |   2483000 | PA      | $2425742.79   | 0.52%             | 2035-10-30      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: —       |
| Alamo Re Ltd.                                       | Alamo Re Ltd., Series A                                                      | CUSIP: 011395AJ9<br>LEI: 5493003E22VRD25G0S03 | Long             | DBT              | CORP              | BM        |    700000 | PA      | $721000.00    | 0.16%             | 2026-06-07      | Floating      | 12.68%                | Yes           |                  2 | On Loan: No      |
| Alamo Re Ltd.                                       | Alamo Re Ltd., Series A                                                      | CUSIP: 011395AN0<br>LEI: 5493003E22VRD25G0S03 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $525150.00    | 0.11%             | 2027-06-07      | Floating      | 10.16%                | Yes           |                  2 | On Loan: No      |
| Alamo Re Ltd.                                       | Alamo Re Ltd., Series B                                                      | CUSIP: 011395AP5<br>LEI: 5493003E22VRD25G0S03 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $265725.00    | 0.06%             | 2027-06-07      | Floating      | 12.03%                | Yes           |                  2 | On Loan: No      |
| Algonquin Power & Utilities Corp.                   | Algonquin Power & Utilities Corp.                                            | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |   1330000 | PA      | $1311603.04   | 0.28%             | 2082-01-18      | Variable      | 4.75%                 | No            |                  2 | On Loan: —       |
| Allianz SE                                          | Allianz SE                                                                   | CUSIP: 018820AD2<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |   2000000 | PA      | $2047250.00   | 0.44%             | 2054-09-03      | Variable      | 5.60%                 | Yes           |                  2 | On Loan: No      |
| Allianz SE                                          | Allianz SE                                                                   | CUSIP: 018820AE0<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |   2800000 | PA      | $2906517.60   | 0.63%             | 2033-10-30      | Variable      | 6.55%                 | Yes           |                  2 | On Loan: —       |
| FNMA or FHLMC                                       | UMBS, 30 Year, Single Family                                                 | CUSIP: 01F040610<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   4800000 | PA      | $4552437.89   | 0.98%             | 2056-01-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                       | UMBS, 30 Year, Single Family                                                 | CUSIP: 01F042616<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   7000000 | PA      | $6832995.19   | 1.47%             | 2056-01-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                       | UMBS, 30 Year, Single Family                                                 | CUSIP: 01F050619<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   7000000 | PA      | $6980312.50   | 1.51%             | 2056-01-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                       | UMBS, 15 Year, Single Family                                                 | CUSIP: 01F052417<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   7000000 | PA      | $7176174.04   | 1.55%             | 2041-01-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                       | UMBS, 30 Year, Single Family                                                 | CUSIP: 01F052615<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  11000000 | PA      | $11153808.49  | 2.41%             | 2056-01-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ally Financial, Inc.                                | Ally Financial, Inc.                                                         | CUSIP: 02005NBT6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1040000 | PA      | $1098325.53   | 0.24%             | 2029-06-13      | Variable      | 6.99%                 | No            |                  2 | On Loan: —       |
| Ally Financial, Inc.                                | Ally Financial, Inc.                                                         | CUSIP: 02005NBV1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1088219.36   | 0.23%             | 2035-07-26      | Variable      | 6.18%                 | No            |                  2 | On Loan: —       |
| 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        |   1129237 | PA      | $1135210.15   | 0.24%             | 2033-06-15      | Fixed         | 6.07%                 | 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        |    380000 | PA      | $382086.16    | 0.08%             | 2031-09-12      | Fixed         | 5.25%                 | 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        |   3195000 | PA      | $3171869.61   | 0.68%             | 2056-03-15      | Variable      | 5.80%                 | No            |                  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        |   1520000 | PA      | $1493445.52   | 0.32%             | 2056-03-15      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                            | Angel Oak Mortgage Trust, Series 2025-HB2, Class A1                          | CUSIP: 034648AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    888685 | PA      | $892575.63    | 0.19%             | 2055-12-25      | Floating      | 5.47%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                            | Angel Oak Mortgage Trust, Series 2025-HB2, Class M2                          | CUSIP: 034648AC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2140000 | PA      | $2148399.29   | 0.46%             | 2055-12-25      | Floating      | 6.32%                 | Yes           |                  2 | On Loan: No      |
| APA Corp.                                           | APA Corp.                                                                    | CUSIP: 03743QAT5<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |   4510000 | PA      | $4491762.51   | 0.97%             | 2055-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| Aquila Re I Ltd.                                    | Aquila Re I Ltd., Series A-1.                                                | CUSIP: 037987AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $258900.00    | 0.06%             | 2027-06-07      | Floating      | 9.02%                 | 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        |    450000 | PA      | $456300.00    | 0.10%             | 2026-06-08      | Floating      | 8.99%                 | 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        |    450000 | PA      | $462600.00    | 0.10%             | 2026-06-08      | Floating      | 12.48%                | 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        |    533206 | PA      | $533206.21    | 0.12%             | 2037-01-15      | Floating      | 5.43%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Collateralized Loan Obligation Ltd.    | Arbor Realty Collateralized Loan Obligation Ltd., Series 2025-BTR1, Class AS | CUSIP: 03881UAG6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2300000 | PA      | $2316242.37   | 0.50%             | 2041-01-20      | Floating      | 6.37%                 | 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        |   1440000 | PA      | $1440002.59   | 0.31%             | 2041-01-20      | Floating      | 6.92%                 | Yes           |                  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        |    870000 | PA      | $888838.46    | 0.19%             | 2030-06-17      | Fixed         | 6.87%                 | Yes           |                  2 | On Loan: No      |
| AREIT                                               | AREIT, Series 2025-CRE11, Class A                                            | CUSIP: 04002DAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2240000 | PA      | $2243496.42   | 0.48%             | 2043-07-25      | Floating      | 5.55%                 | Yes           |                  2 | On Loan: No      |
| Atlas Capital DAC                                   | Atlas Capital DAC, Series A                                                  | CUSIP: 049207AA1<br>LEI: 635400CBPJFGGWD2AH20 | Long             | DBT              | CORP              | IE        |    450000 | PA      | $464535.00    | 0.10%             | 2026-06-05      | Floating      | 11.29%                | Yes           |                  2 | On Loan: No      |
| Atlas Capital DAC                                   | Atlas Capital DAC, Series 2024                                               | CUSIP: 049207AB9<br>LEI: 635400CBPJFGGWD2AH20 | Long             | DBT              | CORP              | IE        |    250000 | PA      | $277125.00    | 0.06%             | 2027-06-08      | Floating      | 15.99%                | Yes           |                  2 | On Loan: No      |
| Avianca Midco 2 plc                                 | Avianca Midco 2 plc                                                          | CUSIP: 05369YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   1464000 | PA      | $1468977.60   | 0.32%             | 2030-02-14      | Fixed         | 9.62%                 | Yes           |                  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        |    540000 | PA      | $562007.59    | 0.12%             | 2030-06-20      | Fixed         | 6.48%                 | Yes           |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                        | Avolon Holdings Funding Ltd.                                                 | CUSIP: 05401AAS0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   1665000 | PA      | $1734882.78   | 0.37%             | 2028-05-04      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                        | Avolon Holdings Funding Ltd.                                                 | CUSIP: 05401AAZ4<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    545000 | PA      | $559500.50    | 0.12%             | 2030-05-30      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: —       |
| Avolon Holdings Funding Ltd.                        | Avolon Holdings Funding Ltd.                                                 | CUSIP: 05401ABD2<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    610000 | PA      | $606073.48    | 0.13%             | 2031-01-30      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| BP Capital Markets plc                              | BP Capital Markets plc                                                       | CUSIP: 05565QDX3<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |   2605000 | PA      | $2686296.84   | 0.58%             | 2035-03-18      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                      | BNP Paribas SA                                                               | CUSIP: 05602XQQ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1530000 | PA      | $1600866.54   | 0.35%             | 2035-06-27      | Variable      | 7.45%                 | Yes           |                  2 | On Loan: —       |
| BNP Paribas SA                                      | BNP Paribas SA                                                               | CUSIP: 05602XQR2<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1290000 | PA      | $1295536.68   | 0.28%             | 2033-12-15      | Variable      | 6.88%                 | Yes           |                  2 | On Loan: No      |
| BSPRT Issuer LLC                                    | BSPRT Issuer LLC, Series 2025-FL12, Class A                                  | CUSIP: 05619BAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1490000 | PA      | $1490925.59   | 0.32%             | 2043-01-17      | Floating      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                               | Bank of America Corp., Series LL                                             | CUSIP: 06055H202<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |     18082 | NS      | $375382.32    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Baxter International, Inc.                          | Baxter International, Inc.                                                   | CUSIP: 071813DD8<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |    335000 | PA      | $337565.11    | 0.07%             | 2030-12-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: —       |
| Baxter International, Inc.                          | Baxter International, Inc.                                                   | CUSIP: 071813DE6<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |    335000 | PA      | $339026.14    | 0.07%             | 2035-12-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: —       |
| Bayou Re Ltd.                                       | Bayou Re Ltd., Series B                                                      | CUSIP: 07304LAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $267500.00    | 0.06%             | 2026-05-26      | Floating      | 22.71%                | Yes           |                  2 | On Loan: No      |
| Bellemeade Re Ltd.                                  | Bellemeade Re Ltd., Series 2025-1, Class M1B                                 | CUSIP: 07876NAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |    500000 | PA      | $502955.45    | 0.11%             | 2035-10-25      | Floating      | 6.37%                 | Yes           |                  2 | On Loan: No      |
| BHG Securitization Trust                            | BHG Securitization Trust, Series 2022-C, Class E                             | CUSIP: 08860DAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    830000 | PA      | $893053.86    | 0.19%             | 2035-10-17      | Fixed         | 9.73%                 | 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        |   2270000 | PA      | $2361856.23   | 0.51%             | 2036-12-17      | Fixed         | 8.15%                 | 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        |   1528383 | PA      | $1468622.97   | 0.32%             | 2046-07-15      | Fixed         | 3.45%                 | Yes           |                  2 | On Loan: No      |
| Blue Ridge Re Ltd.                                  | Blue Ridge Re Ltd., Series A                                                 | CUSIP: 096003AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $255175.00    | 0.06%             | 2027-01-08      | Floating      | 8.85%                 | 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      | $258875.00    | 0.06%             | 2027-01-08      | Floating      | 11.59%                | Yes           |                  2 | On Loan: No      |
| Blue Ridge Re Ltd.                                  | Blue Ridge Re Ltd., Series A                                                 | CUSIP: 096003AC2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $249750.00    | 0.05%             | 2029-01-08      | Floating      | 7.13%                 | Yes           |                  2 | On Loan: No      |
| Blue Ridge Re Ltd.                                  | Blue Ridge Re Ltd., Series B                                                 | CUSIP: 096003AD0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $249750.00    | 0.05%             | 2029-01-08      | Floating      | 9.63%                 | Yes           |                  2 | On Loan: No      |
| Blue Ridge Re Ltd.                                  | Blue Ridge Re Ltd., Series C                                                 | CUSIP: 096003AE8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $249750.00    | 0.05%             | 2029-01-08      | Floating      | 11.60%                | Yes           |                  2 | On Loan: No      |
| Boeing Co. (The)                                    | Boeing Co. (The)                                                             | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   2120000 | PA      | $2381053.85   | 0.51%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: —       |
| Boeing Co. (The)                                    | Boeing Co. (The)                                                             | CUSIP: 097023DU6<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    415000 | PA      | $471543.92    | 0.10%             | 2064-05-01      | Fixed         | 7.01%                 | No            |                  2 | On Loan: No      |
| Bonanza RE Ltd.                                     | Bonanza RE Ltd., Series A                                                    | CUSIP: 09785EAK7<br>LEI: 5493003F0CXUQ2C83105 | Long             | DBT              | CORP              | BM        |    450000 | PA      | $450000.00    | 0.10%             | 2026-01-08      | Floating      | 11.66%                | Yes           |                  2 | On Loan: No      |
| Bonanza RE Ltd.                                     | Bonanza RE Ltd., Series C                                                    | CUSIP: 09785EAQ4<br>LEI: 5493003F0CXUQ2C83105 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $255500.00    | 0.06%             | 2027-12-19      | Floating      | 9.13%                 | Yes           |                  2 | On Loan: No      |
| Borr IHC Ltd.                                       | Borr IHC Ltd.                                                                | CUSIP: 100018AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    362805 | PA      | $364499.75    | 0.08%             | 2028-11-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Borr IHC Ltd.                                       | Borr IHC Ltd.                                                                | CUSIP: 100018AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1528631 | PA      | $1519273.41   | 0.33%             | 2030-11-15      | Fixed         | 10.38%                | Yes           |                  2 | On Loan: —       |
| BRAVO Residential Funding Trust                     | BRAVO Residential Funding Trust, Series 2025-HE1, Class A1                   | CUSIP: 10568VAA2<br>LEI: 254900V4GL9A5JTVB991 | Long             | ABS-O            | CORP              | US        |   1770701 | PA      | $1769428.31   | 0.38%             | 2072-09-25      | Floating      | 5.22%                 | Yes           |                  2 | On Loan: No      |
| Bridge Street Re Ltd.                               | Bridge Street Re Ltd., Series A                                              | CUSIP: 10807LAB3<br>LEI: 2549008NKPLMU6X7ID58 | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1498686.00   | 0.32%             | 2029-01-08      | Floating      | 11.31%                | Yes           |                  2 | On Loan: No      |
| Brightstar Lottery plc                              | Brightstar Lottery plc                                                       | CUSIP: 108922AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   1115000 | PA      | $1107010.92   | 0.24%             | 2033-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: —       |
| CBRE Services, Inc.                                 | CBRE Services, Inc.                                                          | CUSIP: 12505BAL4<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |    300000 | PA      | $301441.33    | 0.07%             | 2033-01-15      | Fixed         | 4.90%                 | No            |                  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        |   3000000 | PA      | $2434350.00   | 0.53%             | 2048-10-10      | Variable      | 3.61%                 | No            |                  2 | On Loan: No      |
| CNO Financial Group, Inc.                           | CNO Financial Group, Inc.                                                    | CUSIP: 12621EAM5<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | DBT              | CORP              | US        |   2191000 | PA      | $2317949.52   | 0.50%             | 2034-06-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| CPS Auto Receivables Trust                          | CPS Auto Receivables Trust, Series 2024-B, Class E                           | CUSIP: 12627SAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    930000 | PA      | $978663.92    | 0.21%             | 2031-11-17      | Fixed         | 8.36%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                    | CSC Holdings LLC                                                             | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1465000 | PA      | $1088417.94   | 0.23%             | 2029-01-31      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| COPT Defense Properties LP                          | COPT Defense Properties LP                                                   | CUSIP: 12713UAA4<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49757.20     | 0.01%             | 2030-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cape Lookout Re Ltd.                                | Cape Lookout Re Ltd., Series A                                               | CUSIP: 13947LAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    700000 | PA      | $712600.00    | 0.15%             | 2026-04-28      | Floating      | 10.80%                | Yes           |                  2 | On Loan: No      |
| Capital One Financial Corp.                         | Capital One Financial Corp., Preference, Series L                            | CUSIP: 14040H758<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |      9852 | NS      | $164922.48    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Celanese US Holdings LLC                            | Celanese US Holdings LLC                                                     | CUSIP: 15089QAY0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   3790000 | PA      | $4003816.91   | 0.86%             | 2033-11-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: —       |
| Celanese US Holdings LLC                            | Celanese US Holdings LLC                                                     | CUSIP: 15089QBD5<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   1110000 | PA      | $1127727.14   | 0.24%             | 2034-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| Citadel Securities Global Holdings LLC              | Citadel Securities Global Holdings LLC                                       | CUSIP: 17289RAA4<br>LEI: 549300NV5RXBUS3X7L47 | Long             | DBT              | CORP              | US        |   2090000 | PA      | $2144877.92   | 0.46%             | 2030-06-18      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Citadel Securities Global Holdings LLC              | Citadel Securities Global Holdings LLC                                       | CUSIP: 17289RAB2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | DBT              | CORP              | US        |   2949000 | PA      | $3104241.08   | 0.67%             | 2035-06-18      | Fixed         | 6.20%                 | Yes           |                  2 | On Loan: —       |
| Citigroup, Inc.                                     | Citigroup, Inc.                                                              | CUSIP: 172967QJ3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3545000 | PA      | $3602683.50   | 0.78%             | 2031-02-15      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                     | Citigroup, Inc., Series GG                                                   | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1039105.12   | 0.22%             | 2030-08-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: —       |
| Citrus Re Ltd.                                      | Citrus Re Ltd., Series A                                                     | CUSIP: 177510AL8<br>LEI: 549300VWWT5SE805NK88 | Long             | DBT              | CORP              | BM        |    450000 | PA      | $459000.00    | 0.10%             | 2026-06-07      | Floating      | 10.20%                | Yes           |                  2 | On Loan: No      |
| COLT Mortgage Loan Trust                            | COLT Mortgage Loan Trust, Series 2023-3, Class B2                            | CUSIP: 19688RAF6<br>LEI: 213800MIPEZY1A8W1N28 | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $3008510.10   | 0.65%             | 2068-09-25      | Variable      | 7.80%                 | 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        |    470000 | PA      | $479588.33    | 0.10%             | 2070-05-25      | Variable      | 7.44%                 | Yes           |                  2 | On Loan: No      |
| Columbia Pipelines Holding Co. LLC                  | Columbia Pipelines Holding Co. LLC                                           | CUSIP: 19828AAF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1849835.20   | 0.40%             | 2032-11-17      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Comerica Bank                                       | Comerica Bank                                                                | CUSIP: 200339EX3<br>LEI: 70WY0ID1N53Q4254VH70 | Long             | DBT              | CORP              | US        |    989000 | PA      | $995314.29    | 0.21%             | 2033-08-25      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| Commercial Metals Co.                               | Commercial Metals Co.                                                        | CUSIP: 201723AS2<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |    465000 | PA      | $475477.40    | 0.10%             | 2033-11-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Commercial Metals Co.                               | Commercial Metals Co.                                                        | CUSIP: 201723AV5<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |    465000 | PA      | $476697.48    | 0.10%             | 2035-12-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: —       |
| Connecticut Avenue Securities Trust                 | Connecticut Avenue Securities Trust, Series 2021-R01, Class 1B2              | CUSIP: 20754RAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1548612.90   | 0.33%             | 2041-10-25      | Floating      | 9.87%                 | 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        |   2155866 | PA      | $2157330.19   | 0.47%             | 2045-09-25      | Floating      | 4.77%                 | 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        |    812979 | PA      | $813414.13    | 0.18%             | 2045-09-25      | Floating      | 4.82%                 | 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        |    765000 | PA      | $823568.40    | 0.18%             | 2055-01-13      | Fixed         | 6.78%                 | Yes           |                  2 | On Loan: —       |
| GNMA                                                | GNMA                                                                         | CUSIP: 21H062610<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4400000 | PA      | $4548156.27   | 0.98%             | 2056-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| COPT Defense Properties LP                          | COPT Defense Properties LP                                                   | CUSIP: 22003BAP1<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |   3150000 | PA      | $2687488.43   | 0.58%             | 2033-12-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Dai-ichi Life Insurance Co. Ltd. (The)              | Dai-ichi Life Insurance Co. Ltd. (The)                                       | CUSIP: 23381LAA2<br>LEI: 3538001235ACEIORUV72 | Long             | DBT              | CORP              | JP        |   3560000 | PA      | $3718772.44   | 0.80%             | 2035-01-16      | Variable      | 6.20%                 | Yes           |                  2 | On Loan: —       |
| Danaos Corp.                                        | Danaos Corp.                                                                 | CUSIP: 23585WAC8<br>LEI: 734IM3DNDNT36T7YTD24 | Long             | DBT              | CORP              | MH        |   1895000 | PA      | $1957841.99   | 0.42%             | 2032-10-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: —       |
| Darden Restaurants, Inc.                            | Darden Restaurants, Inc.                                                     | CUSIP: 237194AN5<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | DBT              | CORP              | US        |   2960000 | PA      | $3212583.61   | 0.69%             | 2033-10-10      | Fixed         | 6.30%                 | No            |                  2 | On Loan: —       |
| DataBank Issuer                                     | DataBank Issuer, Series 2024-1A, Class A2                                    | CUSIP: 23802WAN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    290000 | PA      | $289161.29    | 0.06%             | 2054-01-26      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Delek Logistics Partners LP                         | Delek Logistics Partners LP                                                  | CUSIP: 24665FAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1970000 | PA      | $2064883.24   | 0.45%             | 2029-03-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| BANK OF AMERICA N.A.                                | Government Agency Repurchase Agreement                                       | CUSIP: N/A<br>LEI: B4TYDEB6GKMZO031MB27       | Long             | RA               | CORP              | US        |   4000000 | PA      | $4000000.00   | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | Treasury Repurchase Agreement                                                | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | RA               | CORP              | FR        |  10000000 | PA      | $10000000.00  | 2.16%             |  |  |  | No            |                  2 | On Loan: No      |
| CANTOR FITZGERAL & CO                               | Government Agency Repurchase Agreement                                       | CUSIP: N/A<br>LEI: 5493004J7H4GCPG6OB62       | Long             | RA               | CORP              | US        |   4259335 | PA      | $4259334.75   | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| CANTOR FITZGERAL & CO                               | Government Agency Repurchase Agreement                                       | CUSIP: N/A<br>LEI: 5493004J7H4GCPG6OB62       | Long             | RA               | CORP              | US        |   3500000 | PA      | $3500000.00   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| CF SECURED LLC                                      | Government Agency Repurchase Agreement                                       | CUSIP: N/A<br>LEI: 254900OXTV81I73FAT50       | Long             | RA               | CORP              | US        |   4000000 | PA      | $4000000.00   | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC                        | Treasury Repurchase Agreement                                                | CUSIP: N/A<br>LEI: MBNUM2BPBDO7JBLYG310       | Long             | RA               | CORP              | US        |   1000000 | PA      | $1000000.00   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| PERSHING LLC                                        | Government Agency Repurchase Agreement                                       | CUSIP: N/A<br>LEI: ZI8Q1A8EI8LQFJNM0D94       | Long             | RA               | CORP              | US        |  30000000 | PA      | $30000000.00  | 6.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                    | Deutsche Bank AG                                                             | CUSIP: 251526DD8<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   1265000 | PA      | $1260692.61   | 0.27%             | 2031-12-10      | Variable      | 4.47%                 | No            |                  2 | On Loan: No      |
| Element Fleet Management Corp.                      | Element Fleet Management Corp.                                               | CUSIP: 286181AP7<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |   1815000 | PA      | $1854957.01   | 0.40%             | 2030-03-25      | Fixed         | 5.04%                 | Yes           |                  2 | On Loan: —       |
| Element Fleet Management Corp.                      | Element Fleet Management Corp.                                               | CUSIP: 286181AR3<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |    485000 | PA      | $486352.37    | 0.10%             | 2030-11-24      | Fixed         | 4.64%                 | Yes           |                  2 | On Loan: No      |
| Enbridge, Inc.                                      | Enbridge, Inc.                                                               | CUSIP: 29250NBT1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    990000 | PA      | $1135201.68   | 0.24%             | 2084-01-15      | Variable      | 8.50%                 | No            |                  2 | On Loan: —       |
| Enbridge, Inc.                                      | Enbridge, Inc.                                                               | CUSIP: 29250NCF0<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    185000 | PA      | $195895.58    | 0.04%             | 2054-06-27      | Variable      | 7.20%                 | No            |                  2 | On Loan: —       |
| Enbridge, Inc.                                      | Enbridge, Inc.                                                               | CUSIP: 29250NCG8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    185000 | PA      | $195828.98    | 0.04%             | 2055-03-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: —       |
| Energy Transfer LP                                  | Energy Transfer LP, Series G                                                 | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    620000 | PA      | $634850.86    | 0.14%             | 2030-05-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| Enerflex, Inc.                                      | Enerflex, Inc.                                                               | CUSIP: 29281WAA6<br>LEI: 549300SQCOV1LC1GBK07 | Long             | DBT              | CORP              | US        |    695000 | PA      | $710597.12    | 0.15%             | 2031-01-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: —       |
| Equitable America Global Funding                    | Equitable America Global Funding                                             | CUSIP: 29446Q2F9<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1129551.49   | 0.24%             | 2028-12-15      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: —       |
| Exeter Automobile Receivables Trust                 | Exeter Automobile Receivables Trust, Series 2024-4A, Class E                 | CUSIP: 30166UAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1480000 | PA      | $1548149.41   | 0.33%             | 2032-02-17      | Fixed         | 7.65%                 | Yes           |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                 | Exeter Automobile Receivables Trust, Series 2025-5A, Class E                 | CUSIP: 30166VAN8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1870000 | PA      | $1875863.39   | 0.40%             | 2033-06-15      | Fixed         | 7.15%                 | Yes           |                  2 | On Loan: No      |
| FIGRE Trust                                         | FIGRE Trust, Series 2025-HE8, Class A                                        | CUSIP: 30191WAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    752011 | PA      | $751887.11    | 0.16%             | 2055-11-25      | Variable      | 5.21%                 | Yes           |                  2 | On Loan: No      |
| Meta Platforms, Inc.                                | Meta Platforms, Inc.                                                         | CUSIP: 30303M8Y1<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1191879.65   | 0.26%             | 2065-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| Meta Platforms, Inc.                                | Meta Platforms, Inc.                                                         | CUSIP: 30303MAE2<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    750000 | PA      | $719828.22    | 0.16%             | 2055-11-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: —       |
| FARM Mortgage Trust                                 | FARM Mortgage Trust, Series 2021-1, Class B                                  | CUSIP: 30768WAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    536965 | PA      | $415205.46    | 0.09%             | 2051-07-25      | Variable      | 3.23%                 | 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      | $21955.45     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | Forward Foreign Currency Contract                                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1425.15     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Farmers Exchange Capital III                        | Farmers Exchange Capital III                                                 | CUSIP: 30958QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2010000 | PA      | $1885131.97   | 0.41%             | 2054-10-15      | Variable      | 5.45%                 | Yes           |                  2 | On Loan: —       |
| Farmers Insurance Exchange                          | Farmers Insurance Exchange                                                   | CUSIP: 309601AG7<br>LEI: 549300UWG2TLX1GZVT44 | Long             | DBT              | CORP              | US        |    410000 | PA      | $420668.20    | 0.09%             | 2064-10-15      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Series 2018-42, Class SB                                               | CUSIP: 3136B2AS1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2754396 | PA      | $340132.68    | 0.07%             | 2048-06-25      | Floating      | 2.21%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Series 2021-1, Class CI                                                | CUSIP: 3136BDU63<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2241253 | PA      | $374246.17    | 0.08%             | 2050-11-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Series 2021-44, Class NI                                               | CUSIP: 3136BHF87<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    568072 | PA      | $108589.86    | 0.02%             | 2051-07-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Series 2021-78, Class CI                                               | CUSIP: 3136BJVT9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    558444 | PA      | $127608.16    | 0.03%             | 2051-11-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                               | FHLMC, Series 4791                                                           | CUSIP: 3137F5A74<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    332613 | PA      | $55366.10     | 0.01%             | 2048-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                               | FHLMC, Series 5086, Class NI                                                 | CUSIP: 3137FFHE0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    358926 | PA      | $55187.40     | 0.01%             | 2051-03-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                               | FHLMC, Series 4988, Class IL                                                 | CUSIP: 3137FUPG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    448631 | PA      | $82368.15     | 0.02%             | 2050-06-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                               | FHLMC, Series 5135, Class MI                                                 | CUSIP: 3137H1RQ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    308883 | PA      | $34597.87     | 0.01%             | 2051-08-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                               | FHLMC, Series 5141, Class IJ                                                 | CUSIP: 3137H22E3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    533510 | PA      | $61275.67     | 0.01%             | 2051-04-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                | FNMA, Series 437, Class C11                                                  | CUSIP: 31424UPH3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5156001 | PA      | $912363.05    | 0.20%             | 2052-07-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                         | FIGRE Trust, Series 2025-HE6, Class A                                        | CUSIP: 31684NAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2156207 | PA      | $2149474.85   | 0.46%             | 2055-09-25      | Variable      | 5.04%                 | Yes           |                  2 | On Loan: No      |
| First Coast Re IV Ltd.                              | First Coast Re IV Ltd., Series A                                             | CUSIP: 31969UAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    400000 | PA      | $405200.00    | 0.09%             | 2026-04-07      | Floating      | 13.60%                | Yes           |                  2 | On Loan: No      |
| First Quantum Minerals Ltd.                         | First Quantum Minerals Ltd.                                                  | CUSIP: 335934AX3<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    450000 | PA      | $473087.16    | 0.10%             | 2034-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: —       |
| Flagstar Mortgage Trust                             | Flagstar Mortgage Trust, Series 2021-4, Class AX1                            | CUSIP: 33852FBA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  74448579 | PA      | $942943.37    | 0.20%             | 2051-06-01      | Variable      | 0.20%                 | Yes           |                  2 | On Loan: No      |
| Flex Ltd.                                           | Flex Ltd.                                                                    | CUSIP: 33938XAG0<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |    630000 | PA      | $628518.68    | 0.14%             | 2035-11-13      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| FloodSmart Re Ltd.                                  | FloodSmart Re Ltd., Series A                                                 | CUSIP: 33975CAM7<br>LEI: 549300KK1LNVFW95S875 | Long             | DBT              | CORP              | BM        |    800000 | PA      | $824000.00    | 0.18%             | 2026-03-11      | Floating      | 20.75%                | Yes           |                  2 | On Loan: No      |
| FloodSmart Re Ltd.                                  | FloodSmart Re Ltd., Series A                                                 | CUSIP: 33975CAP0<br>LEI: 549300KK1LNVFW95S875 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $531900.00    | 0.11%             | 2027-03-12      | Floating      | 17.96%                | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                           | Ford Motor Credit Co. LLC                                                    | CUSIP: 345397G31<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   3582000 | PA      | $3669117.25   | 0.79%             | 2031-11-05      | Fixed         | 6.05%                 | No            |                  2 | On Loan: —       |
| Foundation Re IV Ltd.                               | Foundation Re IV Ltd., Series A                                              | CUSIP: 349939AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $499250.00    | 0.11%             | 2030-01-07      | Floating      | 7.06%                 | Yes           |                  2 | On Loan: No      |
| Four Lakes Re Ltd.                                  | Four Lakes Re Ltd., Series A                                                 | CUSIP: 35087TAD0<br>LEI: 549300MG4RRU6DT7MN54 | Long             | DBT              | CORP              | BM        |    450000 | PA      | $449550.00    | 0.10%             | 2026-01-07      | Floating      | 10.44%                | Yes           |                  2 | On Loan: No      |
| Four Lakes Re Ltd.                                  | Four Lakes Re Ltd., Series A                                                 | CUSIP: 35087TAE8<br>LEI: 549300MG4RRU6DT7MN54 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $254725.00    | 0.05%             | 2027-01-07      | Floating      | 9.43%                 | 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      | $513050.00    | 0.11%             | 2028-01-07      | Floating      | 9.13%                 | Yes           |                  2 | On Loan: No      |
| Four Lakes Re Ltd.                                  | Four Lakes Re Ltd., Series A                                                 | CUSIP: 35087TAJ7<br>LEI: 549300MG4RRU6DT7MN54 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $249750.00    | 0.05%             | 2029-01-08      | Floating      | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Four Lakes Re Ltd.                                  | Four Lakes Re Ltd., Series B                                                 | CUSIP: 35087TAK4<br>LEI: 549300MG4RRU6DT7MN54 | Long             | DBT              | CORP              | BM        |    750000 | PA      | $749250.00    | 0.16%             | 2029-01-08      | Floating      | 9.63%                 | Yes           |                  2 | On Loan: No      |
| Foundry JV Holdco LLC                               | Foundry JV Holdco LLC                                                        | CUSIP: 350930AC7<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1430578.99   | 0.31%             | 2032-01-25      | Fixed         | 6.15%                 | Yes           |                  2 | On Loan: —       |
| Foundry JV Holdco LLC                               | Foundry JV Holdco LLC                                                        | CUSIP: 350930AH6<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |   1608000 | PA      | $1681062.20   | 0.36%             | 2036-01-25      | Fixed         | 6.10%                 | 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        |   1275000 | PA      | $1315876.76   | 0.28%             | 2051-01-25      | Floating      | 7.62%                 | 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        |   1615000 | PA      | $1673313.61   | 0.36%             | 2051-11-25      | Floating      | 7.87%                 | 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        |   2800000 | PA      | $3472131.32   | 0.75%             | 2048-10-25      | Floating      | 14.99%                | Yes           |                  2 | On Loan: No      |
| STACR Trust                                         | STACR Trust, Series 2018-HRP2, Class B2                                      | CUSIP: 35564ACC3<br>LEI: 549300YG8OJES76WL398 | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $2444256.60   | 0.53%             | 2047-02-25      | Floating      | 14.49%                | Yes           |                  2 | On Loan: No      |
| FHLMC                                               | FHLMC STACR REMIC Trust, Series 2024-HQA2, Class M1                          | CUSIP: 35564NDZ3<br>LEI: 5299002OYNAPMJKK2A73 | Long             | ABS-MBS          | CORP              | US        |   1411784 | PA      | $1412905.76   | 0.30%             | 2044-08-25      | Floating      | 5.07%                 | Yes           |                  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        |   1360000 | PA      | $1520122.32   | 0.33%             | 2049-07-25      | Floating      | 12.14%                | Yes           |                  2 | On Loan: No      |
| FHLMC                                               | FHLMC STACR REMIC Trust, Series 2025-DNA4, Class A1                          | CUSIP: 35564UBQ9<br>LEI: 529900ZVQVVVNGMGDO97 | Long             | ABS-MBS          | CORP              | US        |   1063750 | PA      | $1065083.09   | 0.23%             | 2045-10-25      | Floating      | 4.77%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                               | FHLMC STACR REMIC Trust, Series 2025-DNA4, Class M1                          | CUSIP: 35564UBR7<br>LEI: 529900ZVQVVVNGMGDO97 | Long             | ABS-MBS          | CORP              | US        |   2194499 | PA      | $2196221.25   | 0.47%             | 2045-10-25      | Floating      | 4.97%                 | 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        |   1140000 | PA      | $1391827.25   | 0.30%             | 2050-11-25      | Floating      | 11.27%                | 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        |   2115000 | PA      | $2434960.16   | 0.53%             | 2050-12-25      | Floating      | 9.52%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                       | Freedom Mortgage Holdings LLC                                                | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |   1010000 | PA      | $1084797.57   | 0.23%             | 2031-05-15      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: —       |
| Freedom Mortgage Holdings LLC                       | Freedom Mortgage Holdings LLC                                                | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    125000 | PA      | $131583.10    | 0.03%             | 2032-04-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| GCAT Trust                                          | GCAT Trust, Series 2021-CM1, Class M1                                        | CUSIP: 36168AAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    805000 | PA      | $744331.42    | 0.16%             | 2065-04-25      | Variable      | 3.28%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                | GNMA                                                                         | CUSIP: 3618N5JE0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    500000 | PA      | $509883.45    | 0.11%             | 2055-03-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                | GNMA                                                                         | CUSIP: 3618N5KX6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3423099 | PA      | $3494431.62   | 0.75%             | 2055-04-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                | GNMA                                                                         | CUSIP: 3618N5MR7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    576802 | PA      | $588203.81    | 0.13%             | 2055-05-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| 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        |   1640000 | PA      | $1635091.97   | 0.35%             | 2028-10-16      | Fixed         | 4.43%                 | Yes           |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                   | GLS Auto Receivables Issuer Trust, Series 2025-4A, Class E                   | CUSIP: 36273HAN6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1080000 | PA      | $1094379.66   | 0.24%             | 2032-12-15      | Fixed         | 7.17%                 | Yes           |                  2 | On Loan: No      |
| Galileo Re Ltd.                                     | Galileo Re Ltd., Series A                                                    | CUSIP: 36354TAN2<br>LEI: 549300MXI75DHMS7JH38 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $262125.00    | 0.06%             | 2028-01-07      | Floating      | 10.63%                | Yes           |                  2 | On Loan: No      |
| Galileo Re Ltd.                                     | Galileo Re Ltd., Series B                                                    | CUSIP: 36354TAP7<br>LEI: 549300MXI75DHMS7JH38 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $249750.00    | 0.05%             | 2026-01-08      | Floating      | 10.63%                | Yes           |                  2 | On Loan: No      |
| Galileo Re Ltd.                                     | Galileo Re Ltd., Series A                                                    | CUSIP: 36354TAQ5<br>LEI: 549300MXI75DHMS7JH38 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $499500.00    | 0.11%             | 2030-01-08      | Floating      | 6.99%                 | Yes           |                  2 | On Loan: No      |
| Galileo Re Ltd.                                     | Galileo Re Ltd., Series B                                                    | CUSIP: 36354TAR3<br>LEI: 549300MXI75DHMS7JH38 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $499500.00    | 0.11%             | 2030-01-08      | Floating      | 8.74%                 | Yes           |                  2 | On Loan: No      |
| Garda World Security Corp.                          | Garda World Security Corp.                                                   | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |   1710000 | PA      | $1741828.23   | 0.38%             | 2032-11-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: —       |
| Gateway Re Ltd.                                     | Gateway Re Ltd., Series A                                                    | CUSIP: 36779CAC0<br>LEI: 549300ZYFWQV9RCIN520 | Long             | DBT              | CORP              | BM        |    450000 | PA      | $457650.00    | 0.10%             | 2026-02-24      | Floating      | 17.55%                | Yes           |                  2 | On Loan: No      |
| Gateway Re Ltd.                                     | Gateway Re Ltd., Series AA                                                   | CUSIP: 36779CAG1<br>LEI: 549300ZYFWQV9RCIN520 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $257550.00    | 0.06%             | 2027-07-08      | Floating      | 9.53%                 | Yes           |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                  | General Motors Financial Co., Inc.                                           | CUSIP: 37045XED4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   2340000 | PA      | $2526327.84   | 0.54%             | 2033-01-09      | Fixed         | 6.40%                 | No            |                  2 | On Loan: —       |
| Global Aircraft Leasing Co. Ltd.                    | Global Aircraft Leasing Co. Ltd.                                             | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   1435000 | PA      | $1488165.32   | 0.32%             | 2027-09-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: —       |
| 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        |   1650000 | PA      | $1705814.06   | 0.37%             | 2031-01-15      | Fixed         | 6.43%                 | Yes           |                  2 | On Loan: No      |
| Goat Holdco LLC                                     | Goat Holdco LLC                                                              | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    580000 | PA      | $595697.70    | 0.13%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: —       |
| GNMA                                                | GNMA, Series 2019-159, Class CI                                              | CUSIP: 38382BHB2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    754574 | PA      | $123463.75    | 0.03%             | 2049-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                | GNMA, Series 2019-159, Class HI                                              | CUSIP: 38382BKH5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1518975 | PA      | $252989.31    | 0.05%             | 2049-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                | GNMA, Series 2020-34                                                         | CUSIP: 38382DL31<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2697187 | PA      | $521103.47    | 0.11%             | 2039-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                | GNMA, Series 2021-42, Class KI                                               | CUSIP: 38382PZN5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    403735 | PA      | $56476.99     | 0.01%             | 2051-03-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                | GNMA, Series 2021-146, Class QI                                              | CUSIP: 38382WZF7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    622684 | PA      | $100884.89    | 0.02%             | 2051-08-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                | GNMA, Series 2021-182, Class TI                                              | CUSIP: 38383CAC4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    280783 | PA      | $52121.69     | 0.01%             | 2051-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                | GNMA, Series 2021-213, Class NI                                              | CUSIP: 38383FLE1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    557878 | PA      | $69447.56     | 0.01%             | 2051-12-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                | GNMA, Series 2021-213, Class CI                                              | CUSIP: 38383FMR1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    436184 | PA      | $57334.20     | 0.01%             | 2050-07-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                | GNMA, Series 2021-213, Class EI                                              | CUSIP: 38383FMY6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    381880 | PA      | $38134.41     | 0.01%             | 2049-01-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                | GNMA, Series 2023-70                                                         | CUSIP: 38384AEX7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1826987 | PA      | $374176.51    | 0.08%             | 2050-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GreenSky Home Improvement Issuer Trust              | GreenSky Home Improvement Issuer Trust, Series 2025-3A, Class E              | CUSIP: 39571WAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3200000 | PA      | $3203240.00   | 0.69%             | 2060-12-27      | Fixed         | 7.83%                 | 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        |    575000 | PA      | $587253.25    | 0.13%             | 2029-11-15      | Fixed         | 8.25%                 | 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        |   1235000 | PA      | $1260848.55   | 0.27%             | 2031-11-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Grupo Nutresa SA                                    | Grupo Nutresa SA                                                             | CUSIP: 40055CAB9<br>LEI: 254900KKAX7B7RJUE255 | Long             | DBT              | CORP              | CO        |   3015000 | PA      | $3403051.51   | 0.73%             | 2035-05-12      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: —       |
| HSBC Holdings plc                                   | HSBC Holdings plc                                                            | CUSIP: 404280EV7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1205000 | PA      | $1250774.34   | 0.27%             | 2031-08-27      | Variable      | 6.95%                 | No            |                  2 | On Loan: —       |
| HSBC Holdings plc                                   | HSBC Holdings plc                                                            | CUSIP: 404280FB0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    440000 | PA      | $452931.32    | 0.10%             | 2036-09-10      | Variable      | 5.74%                 | No            |                  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        |    410000 | PA      | $416405.72    | 0.09%             | 2039-05-10      | Variable      | 7.09%                 | 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        |    990000 | PA      | $1012277.18   | 0.22%             | 2039-05-10      | Variable      | 8.20%                 | Yes           |                  2 | On Loan: No      |
| Handshake Re Ltd.                                   | Handshake Re Ltd., Series A                                                  | CUSIP: 410290AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    400000 | PA      | $399986.04    | 0.09%             | 2030-01-08      | Floating      | 4.16%                 | Yes           |                  2 | On Loan: No      |
| Hanwha Life Insurance Co. Ltd.                      | Hanwha Life Insurance Co. Ltd.                                               | CUSIP: 41135UAC9<br>LEI: 988400ZKCI3R9DQHR320 | Long             | DBT              | CORP              | KR        |    610000 | PA      | $633424.00    | 0.14%             | 2055-06-24      | Variable      | 6.30%                 | Yes           |                  2 | On Loan: No      |
| Herbie Re Ltd.                                      | Herbie Re Ltd., Series A                                                     | CUSIP: 42703VAG8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $254475.00    | 0.05%             | 2028-01-07      | Floating      | 10.56%                | 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      | $254050.00    | 0.05%             | 2027-01-06      | Floating      | 9.27%                 | Yes           |                  2 | On Loan: No      |
| Highwoods Realty LP                                 | Highwoods Realty LP                                                          | CUSIP: 431282AV4<br>LEI: JUJNVZX73BIYHLR58F51 | Long             | DBT              | CORP              | US        |    280000 | PA      | $279790.11    | 0.06%             | 2033-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                 | Hilcorp Energy I LP                                                          | CUSIP: 431318BE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1930000 | PA      | $1808430.84   | 0.39%             | 2034-05-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: —       |
| Hilcorp Energy I LP                                 | Hilcorp Energy I LP                                                          | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    480000 | PA      | $456178.58    | 0.10%             | 2035-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: —       |
| Hilton Domestic Operating Co., Inc.                 | Hilton Domestic Operating Co., Inc.                                          | CUSIP: 432833AT8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    640000 | PA      | $644395.41    | 0.14%             | 2034-03-31      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: —       |
| Home RE Ltd.                                        | Home RE Ltd., Series 2023-1, Class M1B                                       | CUSIP: 43731BAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |    443806 | PA      | $455019.48    | 0.10%             | 2033-10-25      | Floating      | 8.47%                 | 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        |  23620548 | PA      | $314049.36    | 0.07%             | 2051-07-25      | Variable      | 0.23%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                             | Hyundai Capital America                                                      | CUSIP: 44891ACH8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    950000 | PA      | $980576.70    | 0.21%             | 2028-06-26      | Fixed         | 5.68%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                             | Hyundai Capital America                                                      | CUSIP: 44891ACP0<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    770000 | PA      | $820882.23    | 0.18%             | 2030-09-21      | Fixed         | 6.20%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                             | Hyundai Capital America                                                      | CUSIP: 44891ACR6<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    690000 | PA      | $730457.87    | 0.16%             | 2029-01-16      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                             | Hyundai Capital America                                                      | CUSIP: 44891ADX2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    760000 | PA      | $787878.21    | 0.17%             | 2032-06-23      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: —       |
| Hyundai Capital America                             | Hyundai Capital America                                                      | CUSIP: 44891AEA1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    810000 | PA      | $810073.94    | 0.17%             | 2030-09-18      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: —       |
| Hypatia Ltd.                                        | Hypatia Ltd., Series A                                                       | CUSIP: 44914CAC0<br>LEI: 98450041F85DB4C2C372 | Long             | DBT              | CORP              | BM        |    450000 | PA      | $461070.00    | 0.10%             | 2026-04-08      | Floating      | 14.13%                | Yes           |                  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        |    990000 | PA      | $987502.63    | 0.21%             | 2067-08-25      | Variable      | 6.25%                 | Yes           |                  2 | On Loan: No      |
| ING Groep NV                                        | ING Groep NV, Series NC10                                                    | CUSIP: 456837AZ6<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   2208000 | PA      | $1981798.35   | 0.43%             | 2031-05-16      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Integrity Re Ltd.                                   | Integrity Re Ltd., Series B                                                  | CUSIP: 45833UAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $526500.00    | 0.11%             | 2026-06-06      | Floating      | 16.92%                | Yes           |                  2 | On Loan: No      |
| ION Platform Finance US, Inc.                       | ION Platform Finance US, Inc.                                                | CUSIP: 46206AAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2485000 | PA      | $2446582.89   | 0.53%             | 2029-08-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Securities Trust          | JPMDB Commercial Mortgage Securities Trust, Series 2016-C2, Class D          | CUSIP: 46590LAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $1199591.50   | 0.26%             | 2049-06-15      | Variable      | 3.36%                 | 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        |  40992799 | PA      | $252954.26    | 0.05%             | 2051-12-25      | Variable      | 0.11%                 | 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        |  46077718 | PA      | $286686.35    | 0.06%             | 2051-12-25      | Variable      | 0.11%                 | Yes           |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                          | J.P. Morgan Mortgage Trust, Series 2025-HE3, Class A1                        | CUSIP: 46660CAA5<br>LEI: 529900FDW9QWEZPAFE21 | Long             | ABS-O            | CORP              | US        |   1545656 | PA      | $1546122.84   | 0.33%             | 2056-03-20      | Floating      | 5.27%                 | Yes           |                  2 | On Loan: No      |
| Jane Street Group                                   | Jane Street Group                                                            | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3632000 | PA      | $3791068.34   | 0.82%             | 2033-05-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: —       |
| Jefferies Financial Group, Inc.                     | Jefferies Financial Group, Inc.                                              | CUSIP: 47233WEJ4<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   3465000 | PA      | $3656947.94   | 0.79%             | 2034-04-14      | Fixed         | 6.20%                 | No            |                  2 | On Loan: —       |
| JPMorgan Chase & Co.                                | JPMorgan Chase & Co., Series MM                                              | CUSIP: 48128B523<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |     55330 | NS      | $1010879.10   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Kendall Re Ltd.                                     | Kendall Re Ltd., Series A                                                    | CUSIP: 48878QAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $261150.00    | 0.06%             | 2027-04-30      | Floating      | 9.88%                 | Yes           |                  2 | On Loan: No      |
| Kendall Re Ltd.                                     | Kendall Re Ltd., Series B                                                    | CUSIP: 48878QAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $260950.00    | 0.06%             | 2027-04-30      | Floating      | 11.41%                | Yes           |                  2 | On Loan: No      |
| KeyCorp                                             | KeyCorp, Series G                                                            | CUSIP: 493267868<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |     16949 | NS      | $360335.74    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Kilimanjaro II Re Ltd.                              | Kilimanjaro II Re Ltd., Series C-1                                           | CUSIP: 49407QAL2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $257300.00    | 0.06%             | 2029-07-09      | Floating      | 7.63%                 | 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        |    250000 | PA      | $259325.00    | 0.06%             | 2029-07-09      | Floating      | 10.13%                | 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        |   1010000 | PA      | $1009993.44   | 0.22%             | 2029-10-15      | Floating      | 6.18%                 | Yes           |                  2 | On Loan: No      |
| Kuwait International Government Bond                | State of Kuwait                                                              | CUSIP: 501499AF4<br>LEI: 549300FSC1YD0D9XX589 | Long             | DBT              | NUSS              | KW        |   2110000 | PA      | $2107086.11   | 0.45%             | 2035-10-09      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| LMNT CRE LLC                                        | LMNT CRE LLC, Series 2025-FL3, Class AS                                      | CUSIP: 50208TAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2280000 | PA      | $2284272.04   | 0.49%             | 2043-07-21      | Floating      | 5.63%                 | Yes           |                  2 | On Loan: No      |
| LMRE 2025 SFR1 Trust                                | LMRE Trust, Series 2025-SFR1, Class D                                        | CUSIP: 50208WAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1660000 | PA      | $1626905.74   | 0.35%             | 2042-12-17      | Fixed         | 5.35%                 | 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        |    910000 | PA      | $908444.72    | 0.20%             | 2031-04-21      | Fixed         | 6.77%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                             | Level 3 Financing, Inc.                                                      | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   2591000 | PA      | $2651313.30   | 0.57%             | 2033-06-30      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Liberty Mutual Insurance Co.                        | Liberty Mutual Insurance Co.                                                 | CUSIP: 53079QAD9<br>LEI: CNC20I6IOMGF7KY49D67 | Long             | DBT              | CORP              | US        |    730000 | PA      | $814784.74    | 0.18%             | 2097-10-15      | Fixed         | 7.70%                 | Yes           |                  2 | On Loan: No      |
| Lightning Re                                        | Lightning Re, Series 2023-1                                                  | CUSIP: 532242AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    650000 | PA      | $663975.00    | 0.14%             | 2026-03-31      | Floating      | 14.63%                | Yes           |                  2 | On Loan: No      |
| Lincoln National Corp.                              | Lincoln National Corp.                                                       | CUSIP: 534187BZ1<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |    295000 | PA      | $297609.51    | 0.06%             | 2035-11-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: —       |
| LoanCore Issuer LLC                                 | LoanCore Issuer LLC, Series 2025-CRE9, Class A                               | CUSIP: 538912AA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1110000 | PA      | $1110345.21   | 0.24%             | 2042-08-18      | Floating      | 5.18%                 | 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        |    479888 | PA      | $479292.17    | 0.10%             | 2037-01-17      | Floating      | 5.49%                 | 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        |    450000 | PA      | $452700.00    | 0.10%             | 2026-04-09      | Floating      | 8.60%                 | Yes           |                  2 | On Loan: No      |
| Fuchsia - London Bridge 2 PCC Ltd.                  | Fuchsia - London Bridge 2 PCC Ltd., Series A                                 | CUSIP: 54180EAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $249750.00    | 0.05%             | 2029-04-06      | Floating      | 6.88%                 | 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        |    450000 | PA      | $452925.00    | 0.10%             | 2026-06-01      | Floating      | 7.88%                 | Yes           |                  2 | On Loan: No      |
| MF1                                                 | MF1, Series 2024-FL16, Class A                                               | CUSIP: 55287EAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1185000 | PA      | $1186479.71   | 0.26%             | 2039-11-18      | Floating      | 5.28%                 | Yes           |                  2 | On Loan: No      |
| MC Brazil Downstream Trading SARL                   | MC Brazil Downstream Trading SARL                                            | CUSIP: 55292WAA8<br>LEI: 213800T2A7R9TYNXZI63 | Long             | DBT              | CORP              | LU        |    796522 | PA      | $698519.05    | 0.15%             | 2031-06-30      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Macquarie Bank Ltd.                                 | Macquarie Bank Ltd.                                                          | CUSIP: 556079AG6<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | DBT              | CORP              | AU        |   1550000 | PA      | $1571021.18   | 0.34%             | 2036-08-13      | Variable      | 5.64%                 | Yes           |                  2 | On Loan: —       |
| Manulife Financial Corp.                            | Manulife Financial Corp.                                                     | CUSIP: 56501RAX4<br>LEI: 5493007GBX87QOZACS27 | Long             | DBT              | CORP              | CA        |   1195000 | PA      | $1192054.93   | 0.26%             | 2035-12-11      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| Marlon Ltd.                                         | Marlon Ltd., Series A                                                        | CUSIP: 571253AA1<br>LEI: 98450044CD0YE4DAFC06 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $265225.00    | 0.06%             | 2027-06-07      | Floating      | 10.97%                | Yes           |                  2 | On Loan: No      |
| Mattel, Inc.                                        | Mattel, Inc.                                                                 | CUSIP: 577081BG6<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251733.57    | 0.05%             | 2030-11-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mayflower Re Ltd.                                   | Mayflower Re Ltd., Series A                                                  | CUSIP: 57839MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $507750.00    | 0.11%             | 2026-07-08      | Floating      | 8.65%                 | Yes           |                  2 | On Loan: No      |
| Mayflower Re Ltd.                                   | Mayflower Re Ltd., Series A                                                  | CUSIP: 57839MAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $258875.00    | 0.06%             | 2027-07-08      | Floating      | 8.53%                 | Yes           |                  2 | On Loan: No      |
| McDonald's Corp.                                    | McDonald's Corp.                                                             | CUSIP: 58013MGC2<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |   3382000 | PA      | $3409475.94   | 0.74%             | 2036-02-13      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Meiji Yasuda Life Insurance Co.                     | Meiji Yasuda Life Insurance Co.                                              | CUSIP: 585270AE1<br>LEI: 549300SLU4LP6YMRLK07 | Long             | DBT              | CORP              | JP        |   5340000 | PA      | $5540041.74   | 1.19%             | 2055-06-11      | Variable      | 6.10%                 | Yes           |                  2 | On Loan: —       |
| Melco Resorts Finance Ltd.                          | Melco Resorts Finance Ltd.                                                   | CUSIP: 58547DAJ8<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    255000 | PA      | $255653.20    | 0.06%             | 2033-09-24      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: —       |
| Merchants Fleet Funding LLC                         | Merchants Fleet Funding LLC, Series 2025-1A, Class D                         | CUSIP: 588926AP0<br>LEI: 254900Z2OOQUA5IN2X83 | Long             | ABS-O            | CORP              | US        |   1460000 | PA      | $1464357.08   | 0.32%             | 2039-01-20      | Fixed         | 5.76%                 | Yes           |                  2 | On Loan: No      |
| Merchants Fleet Funding LLC                         | Merchants Fleet Funding LLC, Series 2025-1A, Class E                         | CUSIP: 588926AQ8<br>LEI: 254900Z2OOQUA5IN2X83 | Long             | ABS-O            | CORP              | US        |   1400000 | PA      | $1403493.14   | 0.30%             | 2039-01-20      | Fixed         | 8.48%                 | Yes           |                  2 | On Loan: No      |
| Merna Reinsurance II Ltd.                           | Merna Reinsurance II Ltd., Series A                                          | CUSIP: 59013MAH5<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |    400000 | PA      | $415400.00    | 0.09%             | 2026-07-07      | Floating      | 12.01%                | Yes           |                  2 | On Loan: No      |
| Merna Reinsurance II Ltd.                           | Merna Reinsurance II Ltd., Series B                                          | CUSIP: 59013MAJ1<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |    450000 | PA      | $469800.00    | 0.10%             | 2026-07-07      | Floating      | 14.10%                | 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      | $264550.00    | 0.06%             | 2027-07-07      | Floating      | 11.09%                | Yes           |                  2 | On Loan: No      |
| Merna Reinsurance II Ltd.                           | Merna Reinsurance II Ltd., Series C                                          | CUSIP: 59013MAM4<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $259425.00    | 0.06%             | 2027-07-07      | Floating      | 12.11%                | Yes           |                  2 | On Loan: No      |
| Minerva Luxembourg SA                               | Minerva Luxembourg SA                                                        | CUSIP: 603374AF6<br>LEI: 222100NM3G3RCPGZ2Z17 | Long             | DBT              | CORP              | LU        |   1625000 | PA      | $1510507.54   | 0.33%             | 2031-03-18      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Mona Lisa Re Ltd.                                   | Mona Lisa Re Ltd., Series B                                                  | CUSIP: 608800AG3<br>LEI: 549300R6SO6XBFDC7M25 | Long             | DBT              | CORP              | BM        |    450000 | PA      | $450450.00    | 0.10%             | 2026-01-08      | Floating      | 16.13%                | Yes           |                  2 | On Loan: No      |
| Mona Lisa Re Ltd.                                   | Mona Lisa Re Ltd., Series A                                                  | CUSIP: 608800AL2<br>LEI: 549300R6SO6XBFDC7M25 | Long             | DBT              | CORP              | BM        |    750000 | PA      | $749993.55    | 0.16%             | 2031-01-08      | Floating      | 4.13%                 | Yes           |                  2 | On Loan: No      |
| Mona Lisa Re Ltd.                                   | Mona Lisa Re Ltd., Series B                                                  | CUSIP: 608800AM0<br>LEI: 549300R6SO6XBFDC7M25 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $499995.50    | 0.11%             | 2030-01-08      | Floating      | 4.13%                 | Yes           |                  2 | On Loan: No      |
| Montoya Re Ltd.                                     | Montoya Re Ltd., Series A                                                    | CUSIP: 613752AF1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    750000 | PA      | $749943.53    | 0.16%             | 2030-04-09      | Floating      | 8.81%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust  | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class D | CUSIP: 61690FAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1130220.00   | 0.24%             | 2048-04-15      | Variable      | 3.97%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                      | Morgan Stanley                                                               | CUSIP: 61747YES0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1310000 | PA      | $1332532.00   | 0.29%             | 2037-04-20      | Variable      | 5.30%                 | No            |                  2 | On Loan: —       |
| Morgan Stanley                                      | Morgan Stanley                                                               | CUSIP: 61747YFB6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    695000 | PA      | $731361.28    | 0.16%             | 2038-01-19      | Variable      | 5.95%                 | No            |                  2 | On Loan: —       |
| Morgan Stanley                                      | Morgan Stanley                                                               | CUSIP: 61747YFM2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    375000 | PA      | $394113.55    | 0.09%             | 2039-02-07      | Variable      | 5.94%                 | No            |                  2 | On Loan: —       |
| Morgan Stanley                                      | Morgan Stanley, Series O                                                     | CUSIP: 61762V861<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |     39851 | NS      | $702971.64    | 0.15%             |  |  |  | No            |                  1 | 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        |    715000 | PA      | $550720.46    | 0.12%             | 2049-03-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Bank of America Merrill Lynch Trust  | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2017-C33, Class D | CUSIP: 61767CAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3250000 | PA      | $2884980.48   | 0.62%             | 2050-05-15      | Fixed         | 3.36%                 | 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        |   1300000 | PA      | $1301423.89   | 0.28%             | 2068-09-25      | Variable      | 7.36%                 | Yes           |                  2 | On Loan: No      |
| Multifamily Connecticut Avenue Securities Trust     | Multifamily Connecticut Avenue Securities Trust, Series 2019-01, Class CE    | CUSIP: 62547NAD1<br>LEI: 549300HG8ZEWVWVSN227 | Long             | ABS-MBS          | CORP              | US        |   2136000 | PA      | $2183847.04   | 0.47%             | 2049-10-25      | Floating      | 12.74%                | Yes           |                  2 | On Loan: No      |
| Mystic Re IV Ltd.                                   | Mystic Re IV Ltd., Series A                                                  | CUSIP: 62865LAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    450000 | PA      | $450000.00    | 0.10%             | 2026-01-08      | Floating      | 12.56%                | Yes           |                  2 | On Loan: No      |
| Mystic Re IV Ltd.                                   | Mystic Re IV Ltd., Series A                                                  | CUSIP: 62865LAE7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $261950.00    | 0.06%             | 2027-01-08      | Floating      | 15.63%                | Yes           |                  2 | On Loan: No      |
| NMEF Funding LLC                                    | NMEF Funding LLC, Series 2025-B, Class E                                     | CUSIP: 62919WAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $509111.45    | 0.11%             | 2033-01-18      | Fixed         | 7.66%                 | Yes           |                  2 | On Loan: No      |
| NatWest Group plc                                   | NatWest Group plc                                                            | CUSIP: 639057AQ1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    595000 | PA      | $669458.90    | 0.14%             | 2033-11-10      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| Nippon Life Insurance Co.                           | Nippon Life Insurance Co.                                                    | CUSIP: 654579AP6<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |   2137000 | PA      | $2301098.09   | 0.50%             | 2055-04-30      | Variable      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Nordea Bank Abp                                     | Nordea Bank Abp                                                              | CUSIP: 65558RAQ2<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |    450000 | PA      | $462041.55    | 0.10%             | 2033-11-10      | Variable      | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Nordea Bank Abp                                     | Nordea Bank Abp                                                              | CUSIP: 65559CAD3<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   1525000 | PA      | $1445888.95   | 0.31%             | 2029-03-01      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Northern Trust Corp.                                | Northern Trust Corp.                                                         | CUSIP: 665859AZ7<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |    760000 | PA      | $758955.27    | 0.16%             | 2040-11-19      | Variable      | 5.12%                 | No            |                  2 | On Loan: —       |
| Novelis Corp.                                       | Novelis Corp.                                                                | CUSIP: 670001AN6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   4066000 | PA      | $4121993.33   | 0.89%             | 2033-08-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: —       |
| Octane Receivables Trust                            | Octane Receivables Trust, Series 2023-2A, Class E                            | CUSIP: 67571QAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2165000 | PA      | $2350425.54   | 0.51%             | 2031-06-20      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                               | OneMain Finance Corp.                                                        | CUSIP: 682691AM2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1975000 | PA      | $1992085.73   | 0.43%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| 1261229 BC Ltd.                                     | 1261229 BC Ltd.                                                              | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   2965000 | PA      | $3083650.08   | 0.67%             | 2032-04-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Oracle Corp.                                        | Oracle Corp.                                                                 | CUSIP: 68389XDR3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1396000 | PA      | $1236875.85   | 0.27%             | 2055-09-26      | Fixed         | 5.95%                 | No            |                  2 | On Loan: —       |
| PFP Ltd.                                            | PFP Ltd., Series 2024-11, Class A                                            | CUSIP: 69291WAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |    302834 | PA      | $303590.40    | 0.07%             | 2039-09-17      | Floating      | 5.61%                 | Yes           |                  2 | On Loan: No      |
| Palm RE Ltd.                                        | Palm RE Ltd., Series A                                                       | CUSIP: 69664FAA6<br>LEI: 984500D3C66DA10DAP11 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $264150.00    | 0.06%             | 2027-06-07      | Floating      | 13.35%                | Yes           |                  2 | On Loan: No      |
| PennyMac Financial Services, Inc.                   | PennyMac Financial Services, Inc.                                            | CUSIP: 70932MAH0<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    520000 | PA      | $537538.04    | 0.12%             | 2034-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Philip Morris International, Inc.                   | Philip Morris International, Inc.                                            | CUSIP: 718172EA3<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   2352000 | PA      | $2300917.12   | 0.50%             | 2035-10-29      | Fixed         | 4.62%                 | No            |                  2 | On Loan: —       |
| Progress Residential Trust                          | Progress Residential Trust, Series 2021-SFR7, Class F                        | CUSIP: 74333PAN7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1710000 | PA      | $1621218.34   | 0.35%             | 2040-08-17      | Fixed         | 3.83%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                          | Progress Residential Trust, Series 2021-SFR9, Class F                        | CUSIP: 74333QAN5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    780000 | PA      | $755074.55    | 0.16%             | 2040-11-17      | Fixed         | 4.05%                 | 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        |   2100000 | PA      | $2070766.53   | 0.45%             | 2038-10-17      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Purple Re Ltd.                                      | Purple Re Ltd., Series A                                                     | CUSIP: 74639NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    300000 | PA      | $311280.00    | 0.07%             | 2026-04-24      | Floating      | 16.74%                | Yes           |                  2 | On Loan: No      |
| Purple Re Ltd.                                      | Purple Re Ltd., Series A                                                     | CUSIP: 74639NAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $525850.00    | 0.11%             | 2027-06-07      | Floating      | 13.05%                | Yes           |                  2 | On Loan: No      |
| RCKTL                                               | RCKTL, Series 2025-2A, Class D                                               | CUSIP: 74939HAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1120000 | PA      | $1119592.43   | 0.24%             | 2034-11-27      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| RCKT Trust                                          | RCKT Trust, Series 2025-1A, Class D                                          | CUSIP: 74939RAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    225000 | PA      | $226081.51    | 0.05%             | 2034-07-25      | Fixed         | 5.42%                 | 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        |         0 | PA      | $0.04         | 0.00%             | 2033-07-25      | Floating      | 6.57%                 | Yes           |                  2 | On Loan: No      |
| Reach ABS Trust                                     | Reach ABS Trust, Series 2025-1A, Class C                                     | CUSIP: 75525PAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1017894.60   | 0.22%             | 2032-08-16      | Fixed         | 5.99%                 | Yes           |                  2 | On Loan: No      |
| 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        |   1410000 | PA      | $1420112.94   | 0.31%             | 2034-02-27      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| Residential Reinsurance 2023 Ltd.                   | Residential Reinsurance 2023 Ltd., Series 3                                  | CUSIP: 76090WAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    250000 | PA      | $262025.00    | 0.06%             | 2027-12-06      | Floating      | 12.36%                | Yes           |                  2 | On Loan: No      |
| Residential Reinsurance 2023 Ltd.                   | Residential Reinsurance 2023 Ltd., Series 5                                  | CUSIP: 76090WAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    250000 | PA      | $262450.00    | 0.06%             | 2027-12-06      | Floating      | 9.63%                 | 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        |    250000 | PA      | $256900.00    | 0.06%             | 2028-12-06      | Floating      | 10.60%                | 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        |    250000 | PA      | $258550.00    | 0.06%             | 2028-12-06      | Floating      | 9.04%                 | 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        |    400000 | PA      | $330624.92    | 0.07%             | 2031-04-06      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: —       |
| Resorts World Las Vegas LLC                         | Resorts World Las Vegas LLC                                                  | CUSIP: 76120HAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3468413.55   | 0.75%             | 2030-07-27      | Fixed         | 8.45%                 | Yes           |                  2 | On Loan: —       |
| RGA Global Funding                                  | RGA Global Funding                                                           | CUSIP: 76209PAJ2<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |   1020000 | PA      | $1027726.48   | 0.22%             | 2032-08-25      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: —       |
| S&P Global, Inc.                                    | S&P Global, Inc.                                                             | CUSIP: 78409VBR4<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |    485000 | PA      | $483504.85    | 0.10%             | 2035-12-04      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| SMRT                                                | SMRT, Series 2022-MINI, Class E                                              | CUSIP: 78457JAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    720000 | PA      | $716409.00    | 0.15%             | 2039-01-15      | Floating      | 6.45%                 | Yes           |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortgage Trust             | Saluda Grade Alternative Mortgage Trust, Series 2025-FIG6, Class M1          | CUSIP: 79582CAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2150000 | PA      | $2154095.97   | 0.46%             | 2056-01-25      | Variable      | 5.48%                 | 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        |   1074053 | PA      | $1075762.38   | 0.23%             | 2055-06-25      | Floating      | 5.70%                 | 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        |    430000 | PA      | $433078.28    | 0.09%             | 2030-04-25      | Variable      | 7.76%                 | 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        |    450000 | PA      | $461250.00    | 0.10%             | 2026-06-05      | Floating      | 11.35%                | Yes           |                  2 | On Loan: No      |
| Sanders Re III Ltd.                                 | Sanders Re III Ltd., Series A                                                | CUSIP: 799927AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $262575.00    | 0.06%             | 2028-04-07      | Floating      | 9.19%                 | 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        |    450000 | PA      | $452250.00    | 0.10%             | 2026-04-07      | Floating      | 6.97%                 | Yes           |                  2 | On Loan: No      |
| Sanders Re III Ltd.                                 | Sanders Re III Ltd.                                                          | CUSIP: 80001QAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    450000 | PA      | $465120.00    | 0.10%             | 2027-04-07      | Floating      | 9.10%                 | Yes           |                  2 | On Loan: No      |
| Santander Holdings USA, Inc.                        | Santander Holdings USA, Inc.                                                 | CUSIP: 80282KBL9<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $2037361.11   | 0.44%             | 2035-05-31      | Variable      | 6.34%                 | No            |                  2 | On Loan: —       |
| Saudi Arabian Oil Co.                               | Saudi Arabian Oil Co.                                                        | CUSIP: 80414L3F0<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | NUSS              | SA        |   1436000 | PA      | $1501563.45   | 0.32%             | 2055-06-02      | Fixed         | 6.38%                 | 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        |    383338 | PA      | $384184.68    | 0.08%             | 2029-08-02      | Variable      | 9.82%                 | No            |                  2 | On Loan: No      |
| Skyline Re Ltd.                                     | Skyline Re Ltd., Series A                                                    | CUSIP: 83087AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $499992.85    | 0.11%             | 2030-01-07      | Floating      | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                 | Societe Generale SA                                                          | CUSIP: 83368RBL5<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   2300000 | PA      | $2412009.03   | 0.52%             | 2033-06-15      | Variable      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                 | Societe Generale SA                                                          | CUSIP: 83368RCF7<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $1056619.19   | 0.23%             | 2033-04-13      | Variable      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| Solomon Re Ltd.                                     | Solomon Re Ltd., Series A                                                    | CUSIP: 83427GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    450000 | PA      | $458235.00    | 0.10%             | 2026-06-08      | Floating      | 9.15%                 | Yes           |                  2 | On Loan: No      |
| Spire, Inc.                                         | Spire, Inc.                                                                  | CUSIP: 84857LAE1<br>LEI: 549300NXSY15DRY2R511 | Long             | DBT              | CORP              | US        |    480000 | PA      | $478145.53    | 0.10%             | 2056-06-01      | Variable      | 6.45%                 | No            |                  2 | On Loan: —       |
| Starwood Property Trust, Inc.                       | Starwood Property Trust, Inc.                                                | CUSIP: 85571BBF1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   2365000 | PA      | $2382198.28   | 0.51%             | 2028-10-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                       | Starwood Property Trust, Inc.                                                | CUSIP: 85571BBG9<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    330000 | PA      | $333547.11    | 0.07%             | 2031-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Amentum Holdings, Inc.                              | Amentum Holdings, Inc., First Lien Term Loan                                 | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |    258176 | PA      | $258578.48    | 0.06%             | 2031-09-29      | Variable      | 5.72%                 | No            |                  2 | On Loan: No      |
| State Street Corp.                                  | State Street Corp., Series G                                                 | CUSIP: 857477855<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EP               | CORP              | US        |      6557 | NS      | $147204.65    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Life Insurance Co.                         | Sumitomo Life Insurance Co.                                                  | CUSIP: 86564CAF7<br>LEI: 549300I5OQCDADQSPI57 | Long             | DBT              | CORP              | JP        |   5545000 | PA      | $5600544.27   | 1.21%             | 2055-09-10      | Variable      | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Summit Midstream Holdings LLC                       | Summit Midstream Holdings LLC                                                | CUSIP: 86614JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1555422.00   | 0.34%             | 2029-10-31      | Fixed         | 8.62%                 | 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        |    829500 | PA      | $831656.70    | 0.18%             | 2031-09-30      | Variable      | 5.72%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                             | Talen Energy Supply LLC                                                      | CUSIP: 87422VAM0<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |    830000 | PA      | $846528.54    | 0.18%             | 2034-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Talen Energy Supply LLC                             | Talen Energy Supply LLC                                                      | CUSIP: 87422VAN8<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |    830000 | PA      | $858294.41    | 0.19%             | 2036-02-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| 3264 re Ltd.                                        | 3264 re Ltd., Series A                                                       | CUSIP: 88577CAH4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $500110.25    | 0.11%             | 2029-01-08      | Floating      | 4.10%                 | Yes           |                  2 | On Loan: No      |
| 3264 re Ltd.                                        | 3264 re Ltd., Series B                                                       | CUSIP: 88577CAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $250274.70    | 0.05%             | 2029-01-08      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Titania RE Ltd.                                     | Titania RE Ltd., Series A                                                    | CUSIP: 888329AC3<br>LEI: 5493008E73M6FH2NSB56 | Long             | DBT              | CORP              | BM        |    450000 | PA      | $457650.00    | 0.10%             | 2026-02-27      | Floating      | 16.87%                | Yes           |                  2 | On Loan: No      |
| Topanga Re Ltd.                                     | Topanga Re Ltd., Series A                                                    | CUSIP: 89055TAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    450000 | PA      | $448650.00    | 0.10%             | 2026-01-08      | Floating      | 8.48%                 | Yes           |                  2 | On Loan: No      |
| Topanga Re Ltd.                                     | Topanga Re Ltd., Series A                                                    | CUSIP: 89055TAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $499500.00    | 0.11%             | 2030-01-07      | Floating      | 8.41%                 | Yes           |                  2 | On Loan: No      |
| Topanga Re Ltd.                                     | Topanga Re Ltd., Series B                                                    | CUSIP: 89055TAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $249750.00    | 0.05%             | 2030-01-07      | Floating      | 9.42%                 | 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        |    450000 | PA      | $453195.00    | 0.10%             | 2026-06-05      | Floating      | 8.97%                 | Yes           |                  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      | $261400.00    | 0.06%             | 2027-06-07      | Floating      | 9.70%                 | Yes           |                  2 | On Loan: No      |
| Total Play Telecomunicaciones SA de CV              | Total Play Telecomunicaciones SA de CV                                       | CUSIP: 89157PAD0<br>LEI: 4469000001BSAPAMOQ06 | Long             | DBT              | CORP              | MX        |   3777250 | PA      | $3623515.93   | 0.78%             | 2032-12-31      | Fixed         | 11.12%                | 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        |   1829000 | PA      | $1796121.16   | 0.39%             | 2062-03-25      | Variable      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Transocean International Ltd.                       | Transocean International Ltd.                                                | CUSIP: 893830AT6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |   2175000 | PA      | $1870491.52   | 0.40%             | 2038-03-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: —       |
| Tricon American Homes                               | Tricon American Homes, Series 2020-SFR1, Class F                             | CUSIP: 89613GAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    980000 | PA      | $975453.39    | 0.21%             | 2038-07-17      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Tricida, Inc.                                       | Tricida, Inc.                                                                | CUSIP: 896CPTAN0<br>LEI: 549300QVPFFJC8SZXG25 | Long             | DBT              | CORP              | US        |   1260000 | PA      | $0.00         | 0.00%             | 2027-05-15      | Fixed         | 3.50%                 | No            |                  3 | On Loan: No      |
| Tricida, Inc.                                       | Tricida, Inc.                                                                | CUSIP: 896LIQAM6<br>LEI: 549300QVPFFJC8SZXG25 | Long             | DBT              | CORP              | US        |   1260000 | PA      | $0.00         | 0.00%             | 2027-05-15      | Fixed         | 3.50%                 | No            |                  3 | On Loan: No      |
| Truist Financial Corp.                              | Truist Financial Corp.                                                       | CUSIP: 89788NAA8<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   4763000 | PA      | $4790251.65   | 1.03%             | 2033-07-28      | Variable      | 4.92%                 | No            |                  2 | On Loan: —       |
| Turris RE Ltd.                                      | Turris RE Ltd., Series A                                                     | CUSIP: 900442AA2<br>LEI: 254900AYLTVDMB8FO181 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $249550.00    | 0.05%             | 2029-01-08      | Floating      | 6.18%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                        | UBS Group AG                                                                 | CUSIP: 902613BS6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2229000 | PA      | $2275155.90   | 0.49%             | 2035-02-05      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: —       |
| US Bancorp                                          | US Bancorp, Series L                                                         | CUSIP: 902973734<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |      9643 | NS      | $147827.19    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| US Acute Care Solutions LLC                         | US Acute Care Solutions LLC                                                  | CUSIP: 90367UAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1535000 | PA      | $1546381.76   | 0.33%             | 2029-05-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: —       |
| UniCredit SpA                                       | UniCredit SpA                                                                | CUSIP: 904678AF6<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |   1760000 | PA      | $1789346.68   | 0.39%             | 2032-06-19      | Variable      | 5.86%                 | Yes           |                  2 | On Loan: —       |
| 1261229 BC Ltd.                                     | 1261229 BC Ltd., First Lien Term Loan                                        | CUSIP: C6903HAB0<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   2039750 | PA      | $1988001.54   | 0.43%             | 2030-10-08      | Variable      | 9.97%                 | No            |                  2 | On Loan: No      |
| United Mexican States                               | United Mexican States                                                        | CUSIP: 91087BBC3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    820000 | PA      | $874940.00    | 0.19%             | 2037-05-13      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Bills                                 | U.S. Treasury Bills                                                          | CUSIP: 912797RJ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  13000000 | PA      | $12983385.09  | 2.80%             | 2026-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: —       |
| Uniti Group LP                                      | Uniti Group LP                                                               | CUSIP: 91327AAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3200000 | PA      | $2976120.19   | 0.64%             | 2030-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Uniti Group LP                                      | Uniti Group LP                                                               | CUSIP: 91327TAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    295000 | PA      | $290587.10    | 0.06%             | 2032-06-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: —       |
| Ursa Re II Ltd.                                     | Ursa Re II Ltd., Series E                                                    | CUSIP: 91734PAJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    450000 | PA      | $449325.00    | 0.10%             | 2029-12-07      | Floating      | 8.54%                 | Yes           |                  2 | On Loan: No      |
| Ursa Re II Ltd.                                     | Ursa Re II Ltd., Series FG                                                   | CUSIP: 91734PAK2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $249625.00    | 0.05%             | 2028-06-07      | Floating      | 11.37%                | 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        |    670000 | PA      | $677159.62    | 0.15%             | 2042-08-05      | Variable      | 5.49%                 | Yes           |                  2 | On Loan: No      |
| VRTX Trust                                          | VRTX Trust, Series 2025-HQ, Class C                                          | CUSIP: 91835XAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    320000 | PA      | $324020.51    | 0.07%             | 2042-08-05      | Variable      | 5.92%                 | 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        |    320000 | PA      | $324577.09    | 0.07%             | 2042-08-05      | Variable      | 6.60%                 | Yes           |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust              | Velocity Commercial Capital Loan Trust, Series 2025-5, Class A               | CUSIP: 92262KAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1720000 | PA      | $1725124.40   | 0.37%             | 2055-12-25      | Variable      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                  | Venture Global Plaquemines LNG LLC                                           | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    710000 | PA      | $727210.42    | 0.16%             | 2034-01-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: —       |
| Venture Global Plaquemines LNG LLC                  | Venture Global Plaquemines LNG LLC                                           | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   1305000 | PA      | $1336698.89   | 0.29%             | 2036-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                  | Venture Global Plaquemines LNG LLC                                           | CUSIP: 922966AE6<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   1040000 | PA      | $1059078.21   | 0.23%             | 2030-12-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Verus Securitization Trust                          | Verus Securitization Trust, Series 2023-5, Class B2                          | CUSIP: 924934AF9<br>LEI: 984500BADC7CFE3B0756 | Long             | ABS-MBS          | CORP              | US        |    340000 | PA      | $341008.92    | 0.07%             | 2068-06-25      | Variable      | 7.97%                 | 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        |   1400000 | PA      | $1399159.58   | 0.30%             | 2068-03-25      | Variable      | 7.71%                 | Yes           |                  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        |    580000 | PA      | $582604.90    | 0.13%             | 2068-11-25      | Variable      | 8.17%                 | 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        |   3705000 | PA      | $3593850.00   | 0.78%             | 2031-06-25      | Variable      | 10.00%                | No            |                  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        |   1434636 | PA      | $1436588.09   | 0.31%             | 2055-11-25      | Variable      | 5.30%                 | 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        |    450000 | PA      | $449955.00    | 0.10%             | 2026-01-06      | Floating      | 5.60%                 | 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        |    250000 | PA      | $249975.00    | 0.05%             | 2026-01-06      | Floating      | 6.35%                 | 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      | $509850.00    | 0.11%             | 2027-01-05      | Floating      | 7.10%                 | 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        |   1250000 | PA      | $1294638.20   | 0.28%             | 2035-03-27      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: —       |
| WEC Energy Group, Inc.                              | WEC Energy Group, Inc.                                                       | CUSIP: 92939UAU0<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |    265000 | PA      | $266669.02    | 0.06%             | 2056-05-15      | Variable      | 5.62%                 | No            |                  2 | On Loan: —       |
| N/A                                                 | CDS                                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        |    533898 | PA      | $-3990.92     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | CDI                                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        | 122900000 | PA      | $-894629.31   | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| Sotera Health Holdings LLC                          | Sotera Health Holdings LLC, First Lien Term Loan                             | CUSIP: 83600VAH4<br>LEI: 549300OVT7MBXFLOFU20 | Long             | LON              | CORP              | US        |    497727 | PA      | $499907.22    | 0.11%             | 2031-05-30      | Variable      | 6.34%                 | No            |                  2 | On Loan: No      |
| Windstream Services, LLC                            | Windstream Services LLC, First Lien Term Loan                                | CUSIP: 97381JAK9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    352000 | PA      | $352880.00    | 0.08%             | 2032-10-06      | Variable      | 7.72%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                   | Wells Fargo & Co., Series DD                                                 | CUSIP: 95002Y400<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |     22892 | NS      | $406790.84    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Wildfire Intermediate Holdings LLC                  | Wildfire Intermediate Holdings LLC                                           | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |   1385000 | PA      | $1398050.86   | 0.30%             | 2029-10-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Willis North America, Inc.                          | Willis North America, Inc.                                                   | CUSIP: 970648AP6<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |   1045000 | PA      | $1046299.75   | 0.23%             | 2031-03-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: —       |
| WOM Chile Holdco SpA                                | WOM Chile Holdco SpA                                                         | CUSIP: 97810KAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CL        |    367648 | PA      | $336397.92    | 0.07%             | 2032-04-01      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| WOM Mobile SA                                       | WOM Mobile SA                                                                | CUSIP: 97810LAA7<br>LEI: 549300T600VUO0QJ3063 | Long             | DBT              | CORP              | CL        |    199303 | PA      | $195815.20    | 0.04%             | 2031-04-01      | Variable      | 11.00%                | Yes           |                  2 | On Loan: No      |
| Woodside Finance Ltd.                               | Woodside Finance Ltd.                                                        | CUSIP: 980236AV5<br>LEI: 254900AIZKU6TGRRNZ98 | Long             | DBT              | CORP              | AU        |   1105000 | PA      | $1150796.31   | 0.25%             | 2035-05-19      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| Wynn Macau Ltd.                                     | Wynn Macau Ltd.                                                              | CUSIP: 98313RAL0<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   1220000 | PA      | $1235700.56   | 0.27%             | 2034-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| WOM Mobile SA                                       | WOM Mobile SA                                                                | CUSIP: N/A<br>LEI: 549300T600VUO0QJ3063       | Long             | EC               | CORP              | CL        |       579 | NS      | $8685.00      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Diamond Sports Group LLC                            | Diamond Sports Group LLC                                                     | CUSIP: N/A<br>LEI: 5493002K6DHWNZH8YA34       | Long             | EC               | CORP              | US        |       171 | NS      | $285.06       | 0.00%             |  |  |  | No            |                  3 | 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        |   1598000 | PA      | $1926982.18   | 0.42%             | 2030-05-09      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Republic of Cote d'Ivoire                           | Republic of Cote d'Ivoire                                                    | CUSIP: N/A<br>LEI: 254900ICW11T82O6H590       | Long             | DBT              | NUSS              | CI        |   2092000 | PA      | $2385005.87   | 0.51%             | 2032-01-30      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| CaixaBank SA                                        | CaixaBank SA                                                                 | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | DBT              | CORP              | ES        |   1000000 | PA      | $1138751.17   | 0.25%             | 2028-09-14      | Variable      | 3.62%                 | Yes           |                  2 | On Loan: —       |
| Grupo Aeromexico SAB de CV                          | Grupo Aeromexico SAB de CV                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |    437430 | NS      | $971661.81    | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| Cruise Yacht Upper HoldCo Ltd.                      | Cruise Yacht Upper HoldCo Ltd.                                               | CUSIP: N/A<br>LEI: 984500DE088QEE80G074       | Long             | DBT              | CORP              | MT        |    800000 | PA      | $693203.44    | 0.15%             | 2028-07-05      | Fixed         | 11.88%                | No            |                  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      | $256475.00    | 0.06%             | 2028-04-24      | Floating      | 7.93%                 | Yes           |                  2 | On Loan: No      |
| International Bank for Reconstruction & Development | International Bank for Reconstruction & Development, Series C                | CUSIP: N/A<br>LEI: ZTMSNXROF84AHWJNKQ93       | Long             | DBT              | NUSS              | US        |    250000 | PA      | $268950.00    | 0.06%             | 2028-04-24      | Floating      | 17.38%                | Yes           |                  2 | On Loan: No      |
| Ball Corp.                                          | Ball Corp.                                                                   | CUSIP: N/A<br>LEI: 0BGI85ALH27ZJP15DY16       | Long             | DBT              | CORP              | US        |   1190000 | PA      | $1431156.68   | 0.31%             | 2032-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| EURO                                                | EURO                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | XX        |        48 | OU      | $56.55        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | U.S. Treasury 5 Year Note                                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -741 | NC      | $286562.10    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | Avation plc                                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DO               |  | GB        |     35000 | NS      | $18871.23     | 0.00%             |  |  |  | No            |                  1 | 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      |
| Darling Global Finance BV                           | Darling Global Finance BV                                                    | CUSIP: N/A<br>LEI: 724500R2BQXOR6YG2Y67       | Long             | DBT              | CORP              | NL        |    955000 | PA      | $1136984.32   | 0.25%             | 2032-07-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Czechoslovak Group A/S                              | Czechoslovak Group A/S                                                       | CUSIP: N/A<br>LEI: 315700SWFD7G70AVG768       | Long             | DBT              | CORP              | CZ        |    465000 | PA      | $566401.45    | 0.12%             | 2031-01-10      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Euro-Bobl                                                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |       -11 | NC      | $7258.50      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| International Petroleum Corp.                       | International Petroleum Corp.                                                | CUSIP: N/A<br>LEI: 54930025D80LU0SMR645       | Long             | DBT              | CORP              | CA        |   3190000 | PA      | $3223429.16   | 0.70%             | 2030-10-10      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | Euro-Bund                                                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |       -27 | NC      | $35366.38     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | U.S. Treasury 2 Year Note                                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       217 | NC      | $-29646.38    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | U.S. Treasury 10 Year Note                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -48 | NC      | $35886.72     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | U.S. Treasury Long Bond                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -76 | NC      | $89240.24     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | U.S. Treasury 10 Year Ultra Note                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -696 | NC      | $513401.11    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Carnival Corp.                                      | Carnival Corp.                                                               | CUSIP: N/A<br>LEI: F1OF2ZSX47CR0BCWA982       | Long             | DBT              | CORP              | PA        |   1060000 | PA      | $1336097.36   | 0.29%             | 2030-01-15      | Fixed         | 5.75%                 | 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      | $267300.00    | 0.06%             | 2028-04-24      | Floating      | 15.88%                | Yes           |                  2 | On Loan: No      |
| N/A                                                 | U.S. Treasury Ultra Bond                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -133 | NC      | $251245.29    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Chile                                   | Republic of Chile                                                            | CUSIP: N/A<br>LEI: 549300FLZTJM5YJF8D34       | Long             | DBT              | NUSS              | CL        |    680000 | PA      | $811074.57    | 0.17%             | 2032-01-14      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United Mexican States                               | United Mexican States                                                        | CUSIP: N/A<br>LEI: 254900EGTWEU67VP6075       | Long             | DBT              | NUSS              | MX        |   3550000 | PA      | $4222321.94   | 0.91%             | 2037-05-04      | Fixed         | 5.12%                 | No            |                  2 | On Loan: —       |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Nationwide Variable Insurance Trust

**Signature:** David Majewski

**Name of Signer:** David Majewski

**Title:** Treasurer