# EDGAR Filing Document

**Accession Number:** 0001676326
**File Stem:** 0002071691-25-007384
**Filing Date:** 2025-11
**Character Count:** 318745
**Document Hash:** 490dbd9c06283c0a4dc2f6822316e50f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-007384.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0002071691-25-007384

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Morgan Stanley ETF Trust
- **CENTRAL INDEX KEY:** 0001676326

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23820
- **FILM NUMBER:** 251524900

**BUSINESS ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 212.296.1404

**MAIL ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

## Series and Classes Contracts Data

### Eaton Vance Total Return Bond ETF (Series ID: S000083413)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000247024 | Eaton Vance Total Return Bond ETF | EVTR            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Morgan Stanley ETF Trust

- **b. Investment Company Act file number:** 811-23820

- **c. CIK number of Registrant:** 0001676326

- **d. LEI of Registrant:** 549300HASXQLXGOR9H31

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

  - **Street Address 1:** 1585 Broadway

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10036

  - **Telephone number:** 800-548-7786

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

- **a. Name of Series:** Eaton Vance Total Return Bond ETF

- **b. EDGAR series identifier (if any):** S000083413

- **c. LEI of Series:** 254900IQ3M4DXR8SC125

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

- **a. Date of fiscal year-end:** 2025-09-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $4128538838.68

**Total Liabilities:** $913817125.20

**Net Assets:** $3214721713.48

**Delayed Delivery Securities:** $15885000.00

**Cash Not Reported:** $44458.41

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1342.41171300 | **1-Year:** 52615.23806800 | **5-Year:** 412438.42674500 | **10-Year:** 330331.29354900 | **30-Year:** 103331.00074100

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

- **3-Month:** 584.23133300 | **1-Year:** 22851.04743500 | **5-Year:** 55097.20441500 | **10-Year:** 2366.78022800 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000247024 | -0.13%               | 1.47%                | 0.98%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4295831.80              | $-13922704.92                              |
| Month 2  | $7869518.29              | $15753189.75                               |
| Month 3  | $8667224.40              | $2300011.65                                |

**Designated Index Information**

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

- **Index Identifier:** BBG_US_Agg

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Benchmark Mortgage Trust                                      | Benchmark Mortgage Trust, Series 2020-IG2, Class XA                                       | CUSIP: 08162NAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  25152299 | PA      | $388975.28    | 0.01%             | 2048-09-15      | Variable      | 0.93%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31384WM23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       786 | PA      | $813.07       | 0.00%             | 2031-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NRTH Mortgage Trust                                           | NRTH Mortgage Trust, Series 2024-PARK, Class A                                            | CUSIP: 67021HAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4633000 | PA      | $4629059.63   | 0.14%             | 2039-03-15      | Floating      | 5.79%                 | Yes           |                  2 | On Loan: No      |
| General Motors Co.                                            | General Motors Co.                                                                        | CUSIP: 37045VAY6<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    139000 | PA      | $143615.98    | 0.00%             | 2029-10-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: —       |
| Magnetite XXII Ltd.                                           | Magnetite XXII Ltd., Series 2019-22A, Class DRR                                           | CUSIP: 55954HBC5<br>LEI: 5493000081NBXWGGSW23 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1502440.50   | 0.05%             | 2036-07-15      | Floating      | 7.22%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, 30 Year                                                                             | CUSIP: 3140Q8Z32<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    339272 | PA      | $314837.64    | 0.01%             | 2048-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                                 | UMBS, Single Family, 30 Year                                                              | CUSIP: 01F0406A0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  24080000 | PA      | $22698222.18  | 0.71%             | 2055-10-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC, Multifamily Structured Pass-Through Certificates, Series K114, Class X3            | CUSIP: 3137FVNK4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5484002 | PA      | $581357.64    | 0.02%             | 2048-08-25      | Variable      | 2.83%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31384VUZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       947 | PA      | $979.15       | 0.00%             | 2030-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC Gold Pool, 30 Year                                                                  | CUSIP: 3128M6PC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1457 | PA      | $1533.89      | 0.00%             | 2037-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BF Mortgage Trust                                             | BF Mortgage Trust, Series 2019-NYT, Class C                                               | CUSIP: 62954PAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2436322.50   | 0.08%             | 2035-12-15      | Floating      | 6.15%                 | Yes           |                  2 | On Loan: No      |
| Driven Brands Funding LLC                                     | Driven Brands Funding LLC, Series 2019-2A, Class A2                                       | CUSIP: 26208LAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2731133 | PA      | $2712550.84   | 0.08%             | 2049-10-20      | Fixed         | 3.98%                 | 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      | $8373.11      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31418FMK0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  43702722 | PA      | $44681826.40  | 1.39%             | 2055-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Citadel LP                                                    | Citadel LP                                                                                | CUSIP: 17288XAC8<br>LEI: 549300IPM6EKPVUPFL67 | Long             | DBT              | CORP              | US        |  10325000 | PA      | $10934494.15  | 0.34%             | 2032-01-23      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| VICI Properties LP                                            | VICI Properties LP                                                                        | CUSIP: 925650AF0<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |   4259000 | PA      | $4427982.68   | 0.14%             | 2034-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| FHLMC                                                         | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DND9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1324 | PA      | $1331.52      | 0.00%             | 2037-08-01      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Bonds                                                                       | CUSIP: 912810TL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  17535000 | PA      | $15521214.84  | 0.48%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                     | HCA, Inc.                                                                                 | CUSIP: 404119CL1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    192000 | PA      | $158660.16    | 0.00%             | 2052-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BCMSC Trust                                                   | BCMSC Trust, Series 1998-C, Class M1                                                      | CUSIP: 09774XAP7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    590768 | PA      | $589053.89    | 0.02%             | 2029-01-15      | Variable      | 7.51%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                            | General Motors Financial Co., Inc.                                                        | CUSIP: 37045XDH6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    141000 | PA      | $134549.70    | 0.00%             | 2028-04-10      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| BANK                                                          | BANK, Series 2020-BN30, Class MCDF                                                        | CUSIP: 06541UBG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4200000 | PA      | $2296442.40   | 0.07%             | 2053-12-15      | Variable      | 3.02%                 | No            |                  2 | On Loan: No      |
| NJ                                                            | NJ, Series 2025-WBRK, Class D                                                             | CUSIP: 65486BAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3400000 | PA      | $3366465.12   | 0.10%             | 2035-03-05      | Variable      | 6.28%                 | Yes           |                  2 | On Loan: No      |
| NRM FHT1 Excess Owner LLC                                     | NRM FHT1 Excess Owner LLC, Series 2025-FHT1, Class A                                      | CUSIP: 64832EAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6200435 | PA      | $6306470.11   | 0.20%             | 2032-03-25      | Variable      | 6.55%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Other                                                                               | CUSIP: 31418DFD9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    154275 | PA      | $149329.12    | 0.00%             | 2049-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ORL Trust                                                     | ORL Trust, Series 2024-GLKS, Class A                                                      | CUSIP: 67120DAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3847000 | PA      | $3853598.37   | 0.12%             | 2039-12-15      | Floating      | 5.64%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                          | GNMA II, Single Family, 30 Year                                                           | CUSIP: 3617J6UQ5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     13163 | PA      | $13114.13     | 0.00%             | 2048-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31374TJV2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       993 | PA      | $1026.71      | 0.00%             | 2028-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                    | UMBS Pool, 30 Year                                                                        | CUSIP: 3132DWMY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  10175419 | PA      | $10268846.80  | 0.32%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| American International Group, Inc.                            | American International Group, Inc.                                                        | CUSIP: 026874DX2<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |  10513000 | PA      | $10958360.85  | 0.34%             | 2035-05-07      | Fixed         | 5.45%                 | No            |                  2 | On Loan: —       |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CMZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  50728000 | PA      | $51057930.35  | 1.59%             | 2030-04-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31390C5R3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1839 | PA      | $1923.70      | 0.00%             | 2032-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CFL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 179201000 | PA      | $180457507.24 | 5.61%             | 2029-09-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 32 Ltd.                                           | Elmwood CLO 32 Ltd., Series 2024-8A, Class D1                                             | CUSIP: 29003TAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1007974.00   | 0.03%             | 2037-10-18      | Floating      | 7.18%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31400WPB0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6553 | PA      | $6900.97      | 0.00%             | 2033-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31378YKB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       149 | PA      | $153.99       | 0.00%             | 2028-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Vantage Data Centers Germany Borrower Lux SARL                | Vantage Data Centers Germany Borrower Lux SARL, Series 2025-1A, Class A2                  | CUSIP: N/A<br>LEI: 2549008VW14T3IH21H24       | Long             | ABS-MBS          | CORP              | LU        |   5327000 | PA      | $6386439.92   | 0.20%             | 2050-06-28      | Fixed         | 4.29%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31382SYR6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       271 | PA      | $280.07       | 0.00%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust                     | FHLMC Seasoned Credit Risk Transfer Trust, Series 2021-2, Class M                         | CUSIP: 35563P4H9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $724427.33    | 0.02%             | 2060-11-25      | Variable      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                  | GS Mortgage Securities Trust, Series 2014-GC24, Class XA                                  | CUSIP: 36253GAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    327485 | PA      | $4.09         | 0.00%             | 2047-09-10      | Variable      | 0.39%                 | 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      | $-17665.98    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                  | Oracle Corp.                                                                              | CUSIP: 68389XDM4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   8722000 | PA      | $8773348.51   | 0.27%             | 2035-09-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: —       |
| XPLR Infrastructure Operating Partners LP                     | XPLR Infrastructure Operating Partners LP                                                 | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   1018000 | PA      | $1067658.04   | 0.03%             | 2031-01-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC Gold Pool, 30 Year                                                                  | CUSIP: 3132M7C55<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    114139 | PA      | $111066.95    | 0.00%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Brean Asset-Backed Securities Trust                           | Brean Asset-Backed Securities Trust, Series 2021-RM1, Class A                             | CUSIP: 10638CAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1868913 | PA      | $1763682.58   | 0.05%             | 2063-10-25      | Variable      | 1.40%                 | Yes           |                  2 | On Loan: No      |
| American National Group, Inc.                                 | American National Group, Inc.                                                             | CUSIP: 025676AQ0<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |   4521000 | PA      | $4618875.17   | 0.14%             | 2035-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31383H6M1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2776 | PA      | $2870.93      | 0.00%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                          | GNMA II, Single Family, 30 Year                                                           | CUSIP: 36202FV86<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     16886 | PA      | $16435.97     | 0.00%             | 2041-08-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31379UGY1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1003 | PA      | $1037.04      | 0.00%             | 2028-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31384V2P6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1029 | PA      | $1064.49      | 0.00%             | 2030-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO 41 Ltd.                           | Benefit Street Partners CLO 41 Ltd., Series 2025-41A, Class D1                            | CUSIP: 08186GAG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1515591.00   | 0.05%             | 2038-07-25      | Floating      | 7.07%                 | Yes           |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                                  | BX Commercial Mortgage Trust, Series 2022-CSMO, Class D                                   | CUSIP: 05610MAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1449086 | PA      | $1471656.67   | 0.05%             | 2027-06-15      | Floating      | 8.49%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DBX8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      8545 | PA      | $8813.73      | 0.00%             | 2037-01-01      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| CTR Partnership LP                                            | CTR Partnership LP                                                                        | CUSIP: 126458AE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4427000 | PA      | $4309466.25   | 0.13%             | 2028-06-30      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: —       |
| EPR Properties                                                | EPR Properties                                                                            | CUSIP: 26884UAE9<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |   1641000 | PA      | $1654061.59   | 0.05%             | 2028-04-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Willis Engine Structured Trust VIII                           | Willis Engine Structured Trust VIII, Series 2025-A, Class A                               | CUSIP: 97063RAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5735229 | PA      | $5819578.98   | 0.18%             | 2050-06-15      | Fixed         | 5.58%                 | Yes           |                  2 | On Loan: No      |
| Compass Minerals International, Inc.                          | Compass Minerals International, Inc.                                                      | CUSIP: 20451NAG6<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |    229000 | PA      | $229838.37    | 0.01%             | 2027-12-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31385WX20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       580 | PA      | $607.04       | 0.00%             | 2033-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Horizon Aircraft Finance IV Ltd.                              | Horizon Aircraft Finance IV Ltd., Series 2024-1, Class A                                  | CUSIP: 43990EAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   4351000 | PA      | $4402899.60   | 0.14%             | 2049-09-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Willis Engine Structured Trust VII                            | Willis Engine Structured Trust VII, Series 2023-A, Class A                                | CUSIP: 97064YAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425762 | PA      | $441588.07    | 0.01%             | 2048-10-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                         | Wells Fargo Commercial Mortgage Trust, Series 2025-609M, Class A                          | CUSIP: 95004NAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5600000 | PA      | $5604942.56   | 0.17%             | 2042-08-15      | Floating      | 5.69%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31371KP70<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2288 | PA      | $2389.12      | 0.00%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                    | Cloud Software Group, Inc.                                                                | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   6153000 | PA      | $6215270.27   | 0.19%             | 2029-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                                        | Oportun Issuance Trust, Series 2025-A, Class A                                            | CUSIP: 68377TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3505464.90   | 0.11%             | 2033-02-08      | Fixed         | 5.01%                 | Yes           |                  2 | On Loan: No      |
| Las Vegas Sands Corp.                                         | Las Vegas Sands Corp.                                                                     | CUSIP: 517834AN7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |  11932000 | PA      | $12431241.56  | 0.39%             | 2030-06-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC Gold Pool, Other                                                                    | CUSIP: 31335Y6E1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     15631 | PA      | $16158.09     | 0.00%             | 2038-01-01      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| McGraw-Hill Education, Inc.                                   | McGraw-Hill Education, Inc.                                                               | CUSIP: 57767XAA8<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |   5440000 | PA      | $5441428.38   | 0.17%             | 2028-08-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Cloud Capital Holdco LP                                       | Cloud Capital Holdco LP, Series 2024-2A, Class A2                                         | CUSIP: 102104AC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4224000 | PA      | $4316046.03   | 0.13%             | 2049-11-22      | Fixed         | 5.92%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31402C4X7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       290 | PA      | $301.74       | 0.00%             | 2034-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HA Sustainable Infrastructure Capital, Inc.                   | HA Sustainable Infrastructure Capital, Inc.                                               | CUSIP: 41068XAF7<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |  14985000 | PA      | $15257796.53  | 0.47%             | 2034-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| Retained Vantage Data Centers Issuer LLC                      | Retained Vantage Data Centers Issuer LLC, Series 2023-1A, Class A2A                       | CUSIP: 76134KAA2<br>LEI: 254900N4NW6XZ9B4HM15 | Long             | ABS-O            | CORP              | US        |   1423000 | PA      | $1425725.19   | 0.04%             | 2048-09-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Smyrna Ready Mix Concrete LLC                                 | Smyrna Ready Mix Concrete LLC                                                             | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |   6380000 | PA      | $6387324.24   | 0.20%             | 2028-11-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: —       |
| BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero | BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero                             | CUSIP: 07336UAB9<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |   2647000 | PA      | $2887866.41   | 0.09%             | 2039-01-08      | Variable      | 8.12%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31391B6M4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1392 | PA      | $1452.19      | 0.00%             | 2032-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31389HXX1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3710 | PA      | $3836.84      | 0.00%             | 2032-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust                     | FHLMC Seasoned Credit Risk Transfer Trust, Series 2016-1, Class MT                        | CUSIP: 35563PAA7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    811533 | PA      | $710818.97    | 0.02%             | 2055-09-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CAV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 134136000 | PA      | $116326301.85 | 3.62%             | 2030-11-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31384VTE2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       179 | PA      | $185.03       | 0.00%             | 2030-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31389GSH4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1209 | PA      | $1279.02      | 0.00%             | 2032-01-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners ABS Funding Ltd.                       | Golub Capital Partners ABS Funding Ltd., Series 2021-1A, Class A2                         | CUSIP: 38178HAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    572433 | PA      | $570144.08    | 0.02%             | 2029-04-20      | Fixed         | 2.77%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC STACR REMIC Trust, Series 2022-DNA2, Class B2                                       | CUSIP: 35564KSQ3<br>LEI: 5493000ISA3AUOXQEF68 | Long             | ABS-MBS          | CORP              | US        |   4695000 | PA      | $5092543.02   | 0.16%             | 2042-02-25      | Floating      | 12.86%                | Yes           |                  2 | On Loan: No      |
| Birch Grove CLO 14 Ltd.                                       | Birch Grove CLO 14 Ltd., Series 2025-14A, Class D1                                        | CUSIP: 09090RAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3012846.00   | 0.09%             | 2037-07-22      | Floating      | 7.83%                 | Yes           |                  2 | On Loan: No      |
| Planet Fitness Master Issuer LLC                              | Planet Fitness Master Issuer LLC, Series 2019-1A, Class A2                                | CUSIP: 72703PAC7<br>LEI: 549300NX9W3U2DO53T22 | Long             | ABS-O            | CORP              | US        |    245050 | PA      | $235476.22    | 0.01%             | 2049-12-05      | Fixed         | 3.86%                 | Yes           |                  2 | On Loan: No      |
| Driven Brands Funding LLC                                     | Driven Brands Funding LLC, Series 2021-1A, Class A2                                       | CUSIP: 26209XAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5929428 | PA      | $5597831.79   | 0.17%             | 2051-10-20      | Fixed         | 2.79%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC STACR Trust, Series 2021-HQA3, Class B2                                             | CUSIP: 35564KKL2<br>LEI: 5493000ISHRHX47NOH65 | Long             | ABS-MBS          | CORP              | US        |   2940000 | PA      | $3047925.05   | 0.09%             | 2041-09-25      | Floating      | 10.61%                | Yes           |                  2 | On Loan: No      |
| Petrobras Global Finance BV                                   | Petrobras Global Finance BV                                                               | CUSIP: 71647NBK4<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |   1724000 | PA      | $1790072.30   | 0.06%             | 2033-07-03      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                                 | UMBS, Single Family, 30 Year                                                              | CUSIP: 01F0606A8<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |   -338000 | PA      | $-345314.54   | -0.01%            | 2055-10-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Artera Services LLC                                           | Artera Services LLC                                                                       | CUSIP: 04302XAA2<br>LEI: 549300J2G34D0WX8Z443 | Long             | DBT              | CORP              | US        |   4903900 | PA      | $4337365.67   | 0.13%             | 2031-02-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Strips, Series 305, Class 7                                                         | CUSIP: 31364JL35<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3996 | PA      | $288.26       | 0.00%             | 2029-09-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Edgewell Personal Care Co.                                    | Edgewell Personal Care Co.                                                                | CUSIP: 28035QAB8<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |   5327000 | PA      | $5074428.29   | 0.16%             | 2029-04-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Voyager Parent LLC                                            | Voyager Parent LLC                                                                        | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |   6143000 | PA      | $6500277.62   | 0.20%             | 2032-07-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Radian Mortgage Capital Trust                                 | Radian Mortgage Capital Trust, Series 2025-J3, Class A16                                  | CUSIP: 75024RAZ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3083354 | PA      | $3136072.33   | 0.10%             | 2055-12-25      | Variable      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust                                 | NYC Commercial Mortgage Trust, Series 2025-3BP, Class D                                   | CUSIP: 67120UAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5830000 | PA      | $5807850.66   | 0.18%             | 2042-02-15      | Floating      | 6.59%                 | Yes           |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                                       | Quikrete Holdings, Inc.                                                                   | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |   6254000 | PA      | $6483046.50   | 0.20%             | 2032-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: —       |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31390TW96<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       568 | PA      | $603.24       | 0.00%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Castlelake Aircraft Structured Trust                          | Castlelake Aircraft Structured Trust, Series 2025-1A, Class A                             | CUSIP: 14856VAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9441993 | PA      | $9600283.81   | 0.30%             | 2050-02-15      | Fixed         | 5.78%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                     | Ford Motor Credit Co. LLC                                                                 | CUSIP: 345397C68<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6959657.32   | 0.22%             | 2030-03-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC, REMIC, Series 5483, Class FB                                                       | CUSIP: 3137HHNE7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4506911 | PA      | $4531117.81   | 0.14%             | 2054-12-25      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31387EV87<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       728 | PA      | $752.87       | 0.00%             | 2031-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                                 | Lendbuzz Securitization Trust, Series 2025-2A, Class B                                    | CUSIP: 52611JAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2940000 | PA      | $2930109.25   | 0.09%             | 2030-11-15      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| CFMT LLC                                                      | CFMT LLC, Series 2022-HB9, Class M3                                                       | CUSIP: 12530GAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1840000 | PA      | $1747415.06   | 0.05%             | 2037-09-25      | Variable      | 3.25%                 | Yes           |                  2 | On Loan: No      |
| FNMA or FHLMC                                                 | UMBS, Single Family, 30 Year                                                              | CUSIP: 01F040693<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        | -24080000 | PA      | $-22701983.47 | -0.71%            | 2055-09-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Brookfield Asset Management Ltd.                              | Brookfield Asset Management Ltd.                                                          | CUSIP: 112586AB8<br>LEI: 549300CZ84WPNJZKY093 | Long             | DBT              | CORP              | CA        |   4655000 | PA      | $4833593.17   | 0.15%             | 2055-09-15      | Fixed         | 6.08%                 | No            |                  2 | On Loan: —       |
| Mosaic Solar Loan Trust                                       | Mosaic Solar Loan Trust, Series 2020-1A, Class A                                          | CUSIP: 61946NAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    366851 | PA      | $323330.96    | 0.01%             | 2046-04-20      | Fixed         | 2.10%                 | Yes           |                  2 | On Loan: No      |
| Galaxy 31 CLO Ltd.                                            | Galaxy 31 CLO Ltd., Series 2023-31A, Class DR                                             | CUSIP: 36320HAS8<br>LEI: 549300XTB6S9P2VMDV60 | Long             | ABS-CBDO         | CORP              | KY        |   2350000 | PA      | $2363420.85   | 0.07%             | 2038-07-15      | Floating      | 7.51%                 | Yes           |                  2 | On Loan: No      |
| FNMA or FHLMC                                                 | UMBS, Single Family, 30 Year                                                              | CUSIP: 01F040693<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  24080000 | PA      | $22701983.47  | 0.71%             | 2055-09-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DB Master Finance LLC                                         | DB Master Finance LLC, Series 2021-1A, Class A2I                                          | CUSIP: 233046AN1<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |   2229150 | PA      | $2171030.49   | 0.07%             | 2051-11-20      | Fixed         | 2.04%                 | Yes           |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                     | XPLR Infrastructure Operating Partners LP                                                 | CUSIP: 98380MAB1<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   6252000 | PA      | $6561123.89   | 0.20%             | 2033-03-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: —       |
| New Mountain CLO 7 Ltd.                                       | New Mountain CLO 7 Ltd., Series CLO-7A, Class D2                                          | CUSIP: 64754YAL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2023532.00   | 0.06%             | 2038-03-31      | Floating      | 8.13%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                           | Forward Foreign Currency Contract                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1118.19     | -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      | $826.27       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cloud Capital Holdco LP                                       | Cloud Capital Holdco LP, Series 2024-1A, Class A2                                         | CUSIP: 102104AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4574475.90   | 0.14%             | 2049-11-22      | Fixed         | 5.78%                 | Yes           |                  2 | On Loan: No      |
| HCA, Inc.                                                     | HCA, Inc.                                                                                 | CUSIP: 404121AL9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   3499000 | PA      | $3493722.70   | 0.11%             | 2054-09-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: —       |
| PNC Financial Services Group, Inc. (The)                      | PNC Financial Services Group, Inc. (The)                                                  | CUSIP: 693475BU8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    192000 | PA      | $217595.31    | 0.01%             | 2034-10-20      | Variable      | 6.88%                 | No            |                  2 | On Loan: —       |
| Intact Financial Corp.                                        | Intact Financial Corp.                                                                    | CUSIP: 45823TAL0<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | DBT              | CORP              | CA        |   3204000 | PA      | $3304035.42   | 0.10%             | 2032-09-22      | Fixed         | 5.46%                 | 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      | $3488.59      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC, Multifamily Structured Pass-Through Certificates, Series K144, Class X3            | CUSIP: 3137H7MC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  11220034 | PA      | $1922210.05   | 0.06%             | 2032-05-25      | Variable      | 3.32%                 | No            |                  2 | On Loan: No      |
| Raymond James Financial, Inc.                                 | Raymond James Financial, Inc.                                                             | CUSIP: 754730AJ8<br>LEI: RGUZHJ05YTITL6D76949 | Long             | DBT              | CORP              | US        |   6270000 | PA      | $6204603.46   | 0.19%             | 2035-09-11      | Fixed         | 4.90%                 | No            |                  2 | On Loan: —       |
| EPR Properties                                                | EPR Properties                                                                            | CUSIP: 26884UAF6<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |    711000 | PA      | $684700.63    | 0.02%             | 2029-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| N/A                                                           | U.S. Treasury Long Bonds                                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      1365 | NC      | $2425263.91   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Atlantic Fin Co.                                       | Global Atlantic Fin Co.                                                                   | CUSIP: 37959GAB3<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |   1169000 | PA      | $1056177.04   | 0.03%             | 2031-06-15      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 3138E2VY8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    566982 | PA      | $553378.31    | 0.02%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LifePoint Health, Inc.                                        | LifePoint Health, Inc.                                                                    | CUSIP: 53219LAV1<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |   5481000 | PA      | $5942434.43   | 0.18%             | 2030-08-15      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31403MRY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       883 | PA      | $921.13       | 0.00%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31389CQY8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1299 | PA      | $1343.74      | 0.00%             | 2032-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FirstKey Homes Trust                                          | FirstKey Homes Trust, Series 2021-SFR2, Class G                                           | CUSIP: 33767TAS9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $965472.00    | 0.03%             | 2038-09-17      | Fixed         | 3.41%                 | Yes           |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust                                  | JW Commercial Mortgage Trust, Series 2024-MRCO, Class B                                   | CUSIP: 46657XAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    885000 | PA      | $888054.31    | 0.03%             | 2039-06-15      | Floating      | 6.09%                 | Yes           |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                     | Towd Point Mortgage Trust, Series 2025-HE2, Class A1A                                     | CUSIP: 89183PAA4<br>LEI: 254900HCCXAYNB40M417 | Long             | ABS-O            | CORP              | US        |   6060000 | PA      | $6083652.48   | 0.19%             | 2065-09-25      | Floating      | 5.69%                 | Yes           |                  2 | On Loan: No      |
| Healthpeak OP LLC                                             | Healthpeak OP LLC                                                                         | CUSIP: 42250GAB9<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              | CORP              | US        |   3871000 | PA      | $3847982.80   | 0.12%             | 2033-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| McAfee Corp.                                                  | McAfee Corp.                                                                              | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |   4933000 | PA      | $4581555.32   | 0.14%             | 2030-02-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| J.P. Morgan Chase Commercial Mortgage Securities Trust        | J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2016-JP4, Class XA         | CUSIP: 46645UAV9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3430762 | PA      | $13249.26     | 0.00%             | 2049-12-15      | Variable      | 0.70%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31389S6V1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1814 | PA      | $1879.88      | 0.00%             | 2031-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31382M2C7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3477 | PA      | $3595.03      | 0.00%             | 2029-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31387QU81<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1331 | PA      | $1392.51      | 0.00%             | 2031-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Delta Air Lines, Inc.                                         | Delta Air Lines, Inc.                                                                     | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12100783 | PA      | $12173862.90  | 0.38%             | 2028-10-20      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| FHLMC Seasoned Credit Risk Transfer Trust                     | FHLMC Seasoned Credit Risk Transfer Trust, Series 2018-3, Class HT                        | CUSIP: 35563PGA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    577389 | PA      | $499783.20    | 0.02%             | 2057-08-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31389TWW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       874 | PA      | $911.96       | 0.00%             | 2032-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 163706000 | PA      | $165240743.75 | 5.14%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FS Commercial Mortgage Trust                                  | FS Commercial Mortgage Trust, Series 2023-4SZN, Class A                                   | CUSIP: 30334RAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1775000 | PA      | $1816289.34   | 0.06%             | 2039-11-10      | Fixed         | 7.07%                 | 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      | $-322.80      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Panther Escrow Issuer LLC                                     | Panther Escrow Issuer LLC                                                                 | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1096000 | PA      | $1140736.53   | 0.04%             | 2031-06-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: —       |
| Start Ltd.                                                    | Start Ltd., Series 2018-1, Class A                                                        | CUSIP: 85572RAA7<br>LEI: 549300VIQYFIDJQCKZ43 | Long             | ABS-O            | CORP              | BM        |   1424199 | PA      | $1424557.20   | 0.04%             | 2043-05-15      | Fixed         | 4.09%                 | Yes           |                  2 | On Loan: No      |
| NESCO Holdings II, Inc.                                       | NESCO Holdings II, Inc.                                                                   | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |   7182000 | PA      | $7038862.74   | 0.22%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: —       |
| Toucan FinCo Ltd.                                             | Toucan FinCo Ltd.                                                                         | CUSIP: 89157UAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6962000 | PA      | $6826449.86   | 0.21%             | 2030-05-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31379FP81<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       895 | PA      | $925.70       | 0.00%             | 2028-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Nykredit Realkredit A/S                                       | Nykredit Realkredit A/S, Series 01e                                                       | CUSIP: N/A<br>LEI: LIU16F6VZJSD6UKHD557       | Long             | DBT              | CORP              | DK        | 122044000 | PA      | $18812806.05  | 0.59%             | 2053-04-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                          | JPMorgan Chase & Co.                                                                      | CUSIP: 46647PEY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  12445000 | PA      | $12859779.28  | 0.40%             | 2031-04-22      | Variable      | 5.10%                 | No            |                  2 | On Loan: —       |
| BX Commercial Mortgage Trust                                  | BX Commercial Mortgage Trust, Series 2022-CSMO, Class C                                   | CUSIP: 05610MAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4980000 | PA      | $5049925.18   | 0.16%             | 2027-06-15      | Floating      | 8.04%                 | Yes           |                  2 | On Loan: No      |
| Madison Park Funding LV Ltd.                                  | Madison Park Funding LV Ltd., Series 2022-55A, Class D1R                                  | CUSIP: 55819FAY7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1512582.00   | 0.05%             | 2037-07-18      | Floating      | 7.48%                 | Yes           |                  2 | On Loan: No      |
| Ajax Mortgage Loan Trust                                      | Ajax Mortgage Loan Trust, Series 2020-B, Class A1                                         | CUSIP: 00969YAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    937400 | PA      | $889502.16    | 0.03%             | 2059-05-25      | Variable      | 1.70%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31391BWM5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7013 | PA      | $7363.16      | 0.00%             | 2032-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                              | OneMain Financial Issuance Trust, Series 2019-2A, Class C                                 | CUSIP: 68269BAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3305000 | PA      | $3211834.69   | 0.10%             | 2036-10-14      | Fixed         | 3.66%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                     | Sunoco LP                                                                                 | CUSIP: 86765KAE9<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |   7672000 | PA      | $7797475.56   | 0.24%             | 2030-09-18      | Variable      | 7.88%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31390UYK6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       185 | PA      | $186.36       | 0.00%             | 2032-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Hudson Yards Mortgage Trust                                   | Hudson Yards Mortgage Trust, Series 2025-SPRL, Class D                                    | CUSIP: 44855PAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1925000 | PA      | $2004880.76   | 0.06%             | 2040-01-13      | Variable      | 6.55%                 | Yes           |                  2 | On Loan: No      |
| TX Trust                                                      | TX Trust, Series 2024-HOU, Class D                                                        | CUSIP: 90216DAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2400000 | PA      | $2411520.00   | 0.08%             | 2039-06-15      | Floating      | 7.39%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                    | FHLMC Gold Pool, Other                                                                    | CUSIP: 3133N3VH4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     70627 | PA      | $66967.76     | 0.00%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| American Homes 4 Rent Trust                                   | American Homes 4 Rent Trust, Series 2015-SFR2, Class E                                    | CUSIP: 02666BAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1001000 | PA      | $998468.57    | 0.03%             | 2052-10-17      | Fixed         | 6.07%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Bonds                                                                       | CUSIP: 912810SN9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    458000 | PA      | $224786.76    | 0.01%             | 2050-05-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31385H7A4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       780 | PA      | $812.95       | 0.00%             | 2032-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31382X5S5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       499 | PA      | $515.58       | 0.00%             | 2029-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31379SBM7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       590 | PA      | $617.36       | 0.00%             | 2028-05-01      | Fixed         | 7.00%                 | 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      | $987.51       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Reworld Holding Corp.                                         | Reworld Holding Corp.                                                                     | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |   3479000 | PA      | $3275053.02   | 0.10%             | 2029-12-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: —       |
| FHLMC                                                         | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DFX4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     13275 | PA      | $13815.48     | 0.00%             | 2037-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Aircastle Ltd.                                                | Aircastle Ltd.                                                                            | CUSIP: 00929JAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   3519000 | PA      | $3668252.86   | 0.11%             | 2031-10-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                          | GNMA II, Single Family, 30 Year                                                           | CUSIP: 3617JUST9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    129742 | PA      | $122726.54    | 0.00%             | 2049-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Falcon Aerospace Ltd.                                         | Falcon Aerospace Ltd., Series 2019-1, Class A                                             | CUSIP: 30610GAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    444112 | PA      | $437572.80    | 0.01%             | 2039-09-15      | Fixed         | 3.60%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                          | GNMA II, Single Family, 30 Year                                                           | CUSIP: 3617JKEK5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     22149 | PA      | $21817.21     | 0.00%             | 2049-04-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                          | Royal Bank of Canada                                                                      | CUSIP: 78017DAH1<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   3990000 | PA      | $4087720.09   | 0.13%             | 2031-05-02      | Variable      | 4.97%                 | No            |                  2 | On Loan: —       |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31382YSQ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4255 | PA      | $4400.39      | 0.00%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Raizen Fuels Finance SA                                       | Raizen Fuels Finance SA                                                                   | CUSIP: 75102XAC0<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |   2452000 | PA      | $2257392.83   | 0.07%             | 2054-03-05      | Fixed         | 6.95%                 | Yes           |                  2 | On Loan: No      |
| Subway Funding LLC                                            | Subway Funding LLC, Series 2024-3A, Class A2II                                            | CUSIP: 864300AJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5456765 | PA      | $5486542.57   | 0.17%             | 2054-07-30      | Fixed         | 5.57%                 | 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      | $9638.31      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 912828YB0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5363000 | PA      | $4976905.89   | 0.15%             | 2029-08-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| ACM Auto Trust                                                | ACM Auto Trust, Series 2025-1A, Class A                                                   | CUSIP: 00161EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2569475 | PA      | $2561664.00   | 0.08%             | 2029-06-20      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC, REMIC, Series 5443, Class FA                                                       | CUSIP: 3137HDXH8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6782694 | PA      | $6805594.57   | 0.21%             | 2054-08-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, REMIC, Series 2003-71, Class TA                                                     | CUSIP: 31393EJT7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     52301 | PA      | $54928.40     | 0.00%             | 2032-09-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 3138ERG87<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    254364 | PA      | $245558.54    | 0.01%             | 2046-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Other                                                                               | CUSIP: 31418DBW1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    146219 | PA      | $141531.78    | 0.00%             | 2049-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31385HNZ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2027 | PA      | $2122.91      | 0.00%             | 2031-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                    | BFLD Trust, Series 2025-FPM, Class B                                                      | CUSIP: 05556HAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8008000 | PA      | $8036006.78   | 0.25%             | 2030-10-10      | Variable      | 5.59%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31391CQK4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       142 | PA      | $148.86       | 0.00%             | 2032-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                            | LPL Holdings, Inc.                                                                        | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   4358000 | PA      | $4266012.95   | 0.13%             | 2029-03-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC, REMIC, Series 5397, Class AF                                                       | CUSIP: 3137HCEA6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   9784076 | PA      | $9797140.47   | 0.30%             | 2054-04-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Aqua Finance Trust                                            | Aqua Finance Trust, Series 2019-A, Class B                                                | CUSIP: 038370AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    397561 | PA      | $389183.38    | 0.01%             | 2040-07-16      | Fixed         | 3.47%                 | Yes           |                  2 | On Loan: No      |
| New Mountain CLO 3 Ltd.                                       | New Mountain CLO 3 Ltd., Series CLO-3A, Class D1R                                         | CUSIP: 647550AY8<br>LEI: 549300CEYMYPINCEX579 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3028746.00   | 0.09%             | 2038-10-20      | Floating      | 7.23%                 | Yes           |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                            | Ally Bank Auto Credit-Linked Notes, Series 2024-B, Class B                                | CUSIP: 02007G4C4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1090444 | PA      | $1100196.00   | 0.03%             | 2032-09-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Swedbank AB                                                   | Swedbank AB                                                                               | CUSIP: 87020PAT4<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |    675000 | PA      | $691564.45    | 0.02%             | 2027-09-20      | Fixed         | 5.34%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                         | Bank of America Corp.                                                                     | CUSIP: 06051GML0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3828000 | PA      | $3951993.28   | 0.12%             | 2031-01-24      | Variable      | 5.16%                 | No            |                  2 | On Loan: —       |
| BNP Paribas SA                                                | BNP Paribas SA                                                                            | CUSIP: 09659T2D2<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1054000 | PA      | $1092800.10   | 0.03%             | 2035-11-19      | Variable      | 5.91%                 | Yes           |                  2 | On Loan: —       |
| Clear Channel Outdoor Holdings, Inc.                          | Clear Channel Outdoor Holdings, Inc.                                                      | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   5999000 | PA      | $6303455.25   | 0.20%             | 2030-04-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                    | UMBS Pool, 30 Year                                                                        | CUSIP: 3132AEB96<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    284537 | PA      | $272285.81    | 0.01%             | 2049-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PRM5 Trust                                                    | PRM5 Trust, Series 2025-PRM5, Class D                                                     | CUSIP: 693980AG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1150000 | PA      | $1147620.42   | 0.04%             | 2033-03-10      | Variable      | 5.81%                 | Yes           |                  2 | On Loan: No      |
| PNMAC GMSR Issuer Trust                                       | PNMAC GMSR Issuer Trust, Series 2025-GT1, Class A                                         | CUSIP: 69354WAK2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4985000 | PA      | $5014464.34   | 0.16%             | 2030-08-26      | Floating      | 6.61%                 | Yes           |                  2 | On Loan: No      |
| CI Financial Corp.                                            | CI Financial Corp.                                                                        | CUSIP: 125491AT7<br>LEI: 549300M9W7JJQSVCEM78 | Long             | DBT              | CORP              | CA        |  14135000 | PA      | $15070197.47  | 0.47%             | 2029-05-30      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Bryant Park Funding Ltd.                                      | Bryant Park Funding Ltd., Series 2023-19A, Class D1R                                      | CUSIP: 11765AAY5<br>LEI: 5493004CTFWJSWYD8564 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3011508.00   | 0.09%             | 2038-04-15      | Floating      | 7.12%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust                     | FHLMC Seasoned Credit Risk Transfer Trust, Series 2019-3, Class M                         | CUSIP: 35563PLU1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    993692 | PA      | $974398.66    | 0.03%             | 2058-10-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Extra Space Storage LP                                        | Extra Space Storage LP                                                                    | CUSIP: 30225VAF4<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |    185000 | PA      | $166551.50    | 0.01%             | 2031-06-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: —       |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 912828Z94<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  22923000 | PA      | $20909178.69  | 0.65%             | 2030-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| STAR Trust                                                    | STAR Trust, Series 2025-SFR5, Class A                                                     | CUSIP: 85520CAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7030721 | PA      | $7054043.26   | 0.22%             | 2042-02-17      | Floating      | 5.59%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Bonds                                                                       | CUSIP: 912810SR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9922000 | PA      | $6322755.70   | 0.20%             | 2040-05-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31391YW37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2229 | PA      | $2322.51      | 0.00%             | 2032-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                          | GNMA, Series 2011-19, Class IM                                                            | CUSIP: 38377TZF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     55884 | PA      | $10977.15     | 0.00%             | 2041-02-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORL Trust                                                     | ORL Trust, Series 2024-GLKS, Class B                                                      | CUSIP: 67120DAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6260000 | PA      | $6274913.82   | 0.20%             | 2039-12-15      | Floating      | 6.04%                 | Yes           |                  2 | On Loan: No      |
| Global Payments, Inc.                                         | Global Payments, Inc.                                                                     | CUSIP: 37940XAQ5<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   9169000 | PA      | $9385642.11   | 0.29%             | 2032-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31387BZ63<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       757 | PA      | $783.53       | 0.00%             | 2031-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Cerdia Finanz GmbH                                            | Cerdia Finanz GmbH                                                                        | CUSIP: 15679GAC6<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |   6164000 | PA      | $6541545.00   | 0.20%             | 2031-10-03      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Boeing Co. (The)                                              | Boeing Co. (The)                                                                          | CUSIP: 097023CX1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   3288000 | PA      | $3287266.94   | 0.10%             | 2060-05-01      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                                 | UMBS, Single Family, 30 Year                                                              | CUSIP: 01F0526A5<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        | -30767000 | PA      | $-31027798.01 | -0.97%            | 2055-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31402CQQ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       647 | PA      | $669.95       | 0.00%             | 2033-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CMM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2608000 | PA      | $2710893.74   | 0.08%             | 2035-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| HLTN Commercial Mortgage Trust                                | HLTN Commercial Mortgage Trust, Series 2024-DPLO, Class C                                 | CUSIP: 40424UAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    232394 | PA      | $233442.28    | 0.01%             | 2041-06-15      | Floating      | 6.69%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31390QGN9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       534 | PA      | $554.73       | 0.00%             | 2032-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                   | Extended Stay America Trust, Series 2025-ESH, Class D                                     | CUSIP: 30227TAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12850000 | PA      | $12938328.33  | 0.40%             | 2042-10-15      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| NRM FNT1 Excess LLC                                           | NRM FNT1 Excess LLC, Series 2024-FNT1, Class A                                            | CUSIP: 62956YAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2286207 | PA      | $2329030.55   | 0.07%             | 2031-11-25      | Variable      | 7.40%                 | Yes           |                  2 | On Loan: No      |
| Enact Holdings, Inc.                                          | Enact Holdings, Inc.                                                                      | CUSIP: 29249EAA7<br>LEI: 9845003CA5664B741N19 | Long             | DBT              | CORP              | US        |   9309000 | PA      | $9739344.46   | 0.30%             | 2029-05-28      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Asset Trust                      | Research-Driven Pagaya Motor Asset Trust, Series 2025-1A, Class B                         | CUSIP: 76089YAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4300000 | PA      | $4325872.24   | 0.13%             | 2033-06-27      | Fixed         | 5.49%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31384V2H4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       140 | PA      | $144.63       | 0.00%             | 2029-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Ally Financial, Inc.                                          | Ally Financial, Inc.                                                                      | CUSIP: 02005NBU3<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   4165000 | PA      | $4407544.61   | 0.14%             | 2030-01-03      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                   | Allied Universal Holdco LLC                                                               | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |   1545000 | PA      | $1621277.76   | 0.05%             | 2031-02-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Sixth Street CLO XV Ltd.                                      | Sixth Street CLO XV Ltd., Series 2020-15A, Class D1R                                      | CUSIP: 83012BAJ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $757404.75    | 0.02%             | 2037-10-24      | Floating      | 7.47%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, REMIC, Series 2025-75, Class FA                                                     | CUSIP: 3136BXHG2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  10365616 | PA      | $10381447.04  | 0.32%             | 2055-09-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                    | FHLMC Gold Pool, Other                                                                    | CUSIP: 3133N3U51<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    132173 | PA      | $121641.68    | 0.00%             | 2049-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31388NJ72<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       887 | PA      | $927.97       | 0.00%             | 2031-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                          | Charter Communications Operating LLC                                                      | CUSIP: 161175BT0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10042000 | PA      | $7958722.83   | 0.25%             | 2050-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: —       |
| NJ                                                            | NJ, Series 2025-WBRK, Class C                                                             | CUSIP: 65486BAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3110000 | PA      | $3148199.20   | 0.10%             | 2035-03-05      | Variable      | 6.28%                 | Yes           |                  2 | On Loan: No      |
| Blue Owl Credit Income Corp.                                  | Blue Owl Credit Income Corp.                                                              | CUSIP: 69120VAZ4<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |   1977000 | PA      | $2078764.75   | 0.06%             | 2031-03-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CGS4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12000000 | PA      | $11952890.64  | 0.37%             | 2030-03-31      | Fixed         | 3.62%                 | 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      | $762.37       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Brookfield Finance, Inc.                                      | Brookfield Finance, Inc.                                                                  | CUSIP: 11271LAN2<br>LEI: 549300XH8D8K6OYWGD17 | Long             | DBT              | CORP              | CA        |   7792000 | PA      | $7737518.34   | 0.24%             | 2055-01-15      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| Wendy's Funding LLC                                           | Wendy's Funding LLC, Series 2018-1A, Class A2II                                           | CUSIP: 95058XAE8<br>LEI: 5493009DRVSTWJOXUL48 | Long             | ABS-O            | CORP              | US        |   1844512 | PA      | $1819676.16   | 0.06%             | 2048-03-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC, Multifamily Structured Pass-Through Certificates, Series K126, Class X3            | CUSIP: 3137FXYY8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  17200000 | PA      | $2041441.30   | 0.06%             | 2049-01-25      | Variable      | 2.72%                 | No            |                  2 | On Loan: No      |
| Bell Canada                                                   | Bell Canada                                                                               | CUSIP: 0778FPAP4<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |   5839000 | PA      | $6065436.42   | 0.19%             | 2055-09-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Subway Funding LLC                                            | Subway Funding LLC, Series 2024-3A, Class A2I                                             | CUSIP: 864300AG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2790375 | PA      | $2795660.58   | 0.09%             | 2054-07-30      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Smithfield Foods, Inc.                                        | Smithfield Foods, Inc.                                                                    | CUSIP: 832248BB3<br>LEI: CVTIPZRZJC0JQEZLL598 | Long             | DBT              | CORP              | US        |   2595000 | PA      | $2630396.01   | 0.08%             | 2029-04-01      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| Abry Liquid Credit CLO Ltd.                                   | Abry Liquid Credit CLO Ltd., Series 2025-1A, Class D                                      | CUSIP: 00383LAJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3011250.00   | 0.09%             | 2038-10-20      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 3138AUDE4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    127201 | PA      | $124011.52    | 0.00%             | 2041-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust                                        | Marlette Funding Trust, Series 2025-1A, Class C                                           | CUSIP: 570920AC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3504000 | PA      | $3528176.90   | 0.11%             | 2035-07-16      | Fixed         | 5.26%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DPP0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      8421 | PA      | $8700.31      | 0.00%             | 2037-08-01      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| Ferrellgas LP                                                 | Ferrellgas LP                                                                             | CUSIP: 315289AC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5076000 | PA      | $4727872.18   | 0.15%             | 2029-04-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: —       |
| GNMA                                                          | GNMA II, Other                                                                            | CUSIP: 36179USL7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     84522 | PA      | $81988.07     | 0.00%             | 2049-05-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FOCUS Brands Funding LLC                                      | FOCUS Brands Funding LLC, Series 2017-1A, Class A2II                                      | CUSIP: 34417MAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9382355 | PA      | $9380845.38   | 0.29%             | 2047-04-30      | Fixed         | 5.09%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                          | GNMA II, Other                                                                            | CUSIP: 36179UVZ2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     38842 | PA      | $37677.18     | 0.00%             | 2049-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                           | Citigroup Commercial Mortgage Trust, Series 2015-GC35, Class XA                           | CUSIP: 17324KAV0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1209640 | PA      | $1037.39      | 0.00%             | 2048-11-10      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31390ABQ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1234 | PA      | $1289.60      | 0.00%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                     | HCA, Inc.                                                                                 | CUSIP: 404119DC0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   7804000 | PA      | $8061414.39   | 0.25%             | 2055-03-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: —       |
| Olympic Tower Mortgage Trust                                  | Olympic Tower Mortgage Trust, Series 2017-OT, Class A                                     | CUSIP: 68162MAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2900000 | PA      | $2774334.01   | 0.09%             | 2039-05-10      | Fixed         | 3.57%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31382W5R9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       413 | PA      | $426.95       | 0.00%             | 2029-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31418FED5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  64530846 | PA      | $65123351.86  | 2.03%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                     | Vistra Operations Co. LLC                                                                 | CUSIP: 92840VAU6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   7373000 | PA      | $7636083.39   | 0.24%             | 2034-12-30      | Fixed         | 5.70%                 | 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      | $-30604.79    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31388CY38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1172 | PA      | $1218.84      | 0.00%             | 2031-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 3140QUMT0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2884958 | PA      | $2914151.85   | 0.09%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INTOWN Mortgage Trust                                         | INTOWN Mortgage Trust, Series 2025-STAY, Class C                                          | CUSIP: 46117WAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3061000 | PA      | $3061911.26   | 0.10%             | 2042-03-15      | Floating      | 6.40%                 | Yes           |                  2 | On Loan: No      |
| STAR Trust                                                    | STAR Trust, Series 2025-SFR5, Class D                                                     | CUSIP: 85520CAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1670000 | PA      | $1672346.35   | 0.05%             | 2042-02-17      | Floating      | 6.59%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31371HHT8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       955 | PA      | $987.26       | 0.00%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31382QXY6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       953 | PA      | $985.30       | 0.00%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Bills                                                                       | CUSIP: 912797QR1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   1900000 | PA      | $1889536.81   | 0.06%             | 2025-11-20      | None          | 0.00%                 | No            |                  2 | On Loan: —       |
| Banco Santander SA                                            | Banco Santander SA                                                                        | CUSIP: 05964HBB0<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   5425000 | PA      | $5621064.65   | 0.17%             | 2030-03-14      | Variable      | 5.54%                 | No            |                  2 | On Loan: No      |
| Magnetite XXII Ltd.                                           | Magnetite XXII Ltd., Series 2019-22A, Class DJ                                            | CUSIP: 55954HBE1<br>LEI: 5493000081NBXWGGSW23 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500950.00    | 0.02%             | 2036-07-15      | Floating      | 8.47%                 | Yes           |                  2 | On Loan: No      |
| JOL Air Ltd.                                                  | JOL Air Ltd., Series 2019-1, Class B                                                      | CUSIP: 46651NAB0<br>LEI: 549300TS4MUGCDXPW498 | Long             | ABS-O            | CORP              | KY        |    141637 | PA      | $140314.04    | 0.00%             | 2044-04-15      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 912828ZE3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10236000 | PA      | $9788374.91   | 0.30%             | 2027-03-31      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| MMP Capital LLC                                               | MMP Capital LLC, Series 2025-A, Class B                                                   | CUSIP: 55317QAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3105000 | PA      | $3163412.81   | 0.10%             | 2031-12-15      | Fixed         | 5.72%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC Gold Pool, 30 Year                                                                  | CUSIP: 3128KVBR5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       724 | PA      | $761.32       | 0.00%             | 2037-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RCKT Trust                                                    | RCKT Trust, Series 2025-1A, Class C                                                       | CUSIP: 74939RAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2585000 | PA      | $2602002.58   | 0.08%             | 2034-07-25      | Fixed         | 5.16%                 | Yes           |                  2 | On Loan: No      |
| Taco Bell Funding LLC                                         | Taco Bell Funding LLC, Series 2021-1A, Class A2I                                          | CUSIP: 87342RAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1139700 | PA      | $1101428.76   | 0.03%             | 2051-08-25      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Fortitude Group Holdings LLC                                  | Fortitude Group Holdings LLC                                                              | CUSIP: 34966XAA6<br>LEI: 2549006R9ZUL08JFIH12 | Long             | DBT              | CORP              | US        |   3096000 | PA      | $3216659.76   | 0.10%             | 2030-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: —       |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31386GHL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3985 | PA      | $4120.95      | 0.00%             | 2031-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC, Multifamily Structured Pass-Through Certificates, Series K122, Class X3            | CUSIP: 3137F84K6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4091469 | PA      | $450360.23    | 0.01%             | 2049-01-25      | Variable      | 2.72%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31383EAP6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1154 | PA      | $1207.19      | 0.00%             | 2029-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31374TNX3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       864 | PA      | $892.99       | 0.00%             | 2029-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                    | Occidental Petroleum Corp.                                                                | CUSIP: 674599EK7<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1332000 | PA      | $1355672.30   | 0.04%             | 2032-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| BBCMS Mortgage Trust                                          | BBCMS Mortgage Trust, Series 2022-C18, Class XA                                           | CUSIP: 054975AG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  17905822 | PA      | $607087.94    | 0.02%             | 2055-12-15      | Variable      | 0.64%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners ABS Funding Ltd.                       | Golub Capital Partners ABS Funding Ltd., Series 2020-1A, Class A2                         | CUSIP: 38177UAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    996992 | PA      | $995524.20    | 0.03%             | 2029-01-22      | Fixed         | 3.21%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                                      | BX Trust, Series 2025-GW, Class D                                                         | CUSIP: 12433GAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6658000 | PA      | $6696842.77   | 0.21%             | 2042-07-15      | Floating      | 6.90%                 | Yes           |                  2 | On Loan: No      |
| ALTDE Trust                                                   | ALTDE Trust, Series 2025-1A, Class A                                                      | CUSIP: 00166NAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5363909 | PA      | $5501605.09   | 0.17%             | 2050-08-15      | Fixed         | 5.90%                 | Yes           |                  2 | On Loan: No      |
| Nordea Kredit Realkreditaktieselskab                          | Nordea Kredit Realkreditaktieselskab, Series CC.2                                         | CUSIP: N/A<br>LEI: 52990080NNXXLC14OC65       | Long             | DBT              | CORP              | DK        |  14315000 | PA      | $2197184.37   | 0.07%             | 2053-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                           | Societe Generale SA                                                                       | CUSIP: 83368RCF7<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   2587000 | PA      | $2728103.26   | 0.08%             | 2033-04-13      | Variable      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| Mosaic Solar Loan Trust                                       | Mosaic Solar Loan Trust, Series 2019-2A, Class B                                          | CUSIP: 61945LAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4529329 | PA      | $4047391.98   | 0.13%             | 2040-09-20      | Fixed         | 3.28%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 3140QUZF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4077659 | PA      | $4118921.72   | 0.13%             | 2054-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31371GTH3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2250 | PA      | $2326.28      | 0.00%             | 2028-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GCI Funding I LLC                                             | GCI Funding I LLC, Series 2020-1, Class A                                                 | CUSIP: 36166VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | BM        |    484767 | PA      | $461027.45    | 0.01%             | 2045-10-18      | Fixed         | 2.82%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                           | Citigroup Commercial Mortgage Trust, Series 2015-GC33, Class XA                           | CUSIP: 29425AAK9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     94369 | PA      | $0.70         | 0.00%             | 2058-09-10      | Variable      | 0.60%                 | No            |                  2 | On Loan: No      |
| A/S Mileage Plan IP Ltd.                                      | A/S Mileage Plan IP Ltd.                                                                  | CUSIP: 00218QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   9276000 | PA      | $9284976.57   | 0.29%             | 2029-10-20      | Fixed         | 5.02%                 | Yes           |                  2 | On Loan: No      |
| Global Atlantic Fin Co.                                       | Global Atlantic Fin Co.                                                                   | CUSIP: 37959GAC1<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |   2960000 | PA      | $2916371.61   | 0.09%             | 2051-10-15      | Variable      | 4.70%                 | Yes           |                  2 | On Loan: No      |
| Kyndryl Holdings, Inc.                                        | Kyndryl Holdings, Inc.                                                                    | CUSIP: 50155QAN0<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |   5904000 | PA      | $6312269.57   | 0.20%             | 2034-02-20      | Fixed         | 6.35%                 | No            |                  2 | On Loan: —       |
| Stellantis Finance US, Inc.                                   | Stellantis Finance US, Inc.                                                               | CUSIP: 85855CAL4<br>LEI: 549300QZ0AI8Q7LNON33 | Long             | DBT              | CORP              | US        |   8187000 | PA      | $8397156.28   | 0.26%             | 2035-03-18      | Fixed         | 6.45%                 | 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      | $37377.16     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Strips, Series 305, Class 8                                                         | CUSIP: 31364JL43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5954 | PA      | $409.70       | 0.00%             | 2029-09-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                          | GNMA II, Single Family, 30 Year                                                           | CUSIP: 36179M5N6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     76364 | PA      | $74251.57     | 0.00%             | 2043-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Oportun Issuance Trust                                        | Oportun Issuance Trust, Series 2025-C, Class B                                            | CUSIP: 68378RAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5235000 | PA      | $5254441.22   | 0.16%             | 2033-07-08      | Fixed         | 4.93%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31385XJG3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1920 | PA      | $2001.56      | 0.00%             | 2033-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Strips, Series 305, Class 10                                                        | CUSIP: 31364JL68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      9850 | PA      | $676.33       | 0.00%             | 2029-12-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Masterbrand, Inc.                                             | Masterbrand, Inc.                                                                         | CUSIP: 57638PAA2<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | DBT              | CORP              | US        |   6477000 | PA      | $6702147.00   | 0.21%             | 2032-07-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                           | Intesa Sanpaolo SpA                                                                       | CUSIP: 46115HBV8<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |  13168000 | PA      | $15545402.47  | 0.48%             | 2033-11-21      | Variable      | 8.25%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31383H2B9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1147 | PA      | $1186.33      | 0.00%             | 2029-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust                     | FHLMC Seasoned Credit Risk Transfer Trust, Series 2020-1, Class M                         | CUSIP: 35563PPH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2700000 | PA      | $2598477.03   | 0.08%             | 2059-08-25      | Variable      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Wand NewCo 3, Inc.                                            | Wand NewCo 3, Inc.                                                                        | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |   6206000 | PA      | $6543606.40   | 0.20%             | 2032-01-30      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31380HVX2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       424 | PA      | $438.60       | 0.00%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                          | GNMA II, Single Family, 30 Year                                                           | CUSIP: 3620ARRB9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    218534 | PA      | $207642.68    | 0.01%             | 2040-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Raymond James Financial, Inc.                                 | Raymond James Financial, Inc.                                                             | CUSIP: 754730AK5<br>LEI: RGUZHJ05YTITL6D76949 | Long             | DBT              | CORP              | US        |   5927000 | PA      | $5887091.32   | 0.18%             | 2055-09-11      | Fixed         | 5.65%                 | No            |                  2 | On Loan: —       |
| Toronto-Dominion Bank (The)                                   | Toronto-Dominion Bank (The)                                                               | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  11912000 | PA      | $12606478.53  | 0.39%             | 2082-10-31      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| STAR Trust                                                    | STAR Trust, Series 2024-SFR4, Class D                                                     | CUSIP: 85520AAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3095000 | PA      | $3122303.78   | 0.10%             | 2041-10-17      | Floating      | 7.09%                 | Yes           |                  2 | On Loan: No      |
| NMI Holdings, Inc.                                            | NMI Holdings, Inc.                                                                        | CUSIP: 629209AC1<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | DBT              | CORP              | US        |   3301000 | PA      | $3415841.79   | 0.11%             | 2029-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| STAR Trust                                                    | STAR Trust, Series 2025-SFR6, Class B                                                     | CUSIP: 85520EAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5179000 | PA      | $5185954.88   | 0.16%             | 2042-08-17      | Floating      | 5.79%                 | Yes           |                  2 | On Loan: No      |
| Raizen Fuels Finance SA                                       | Raizen Fuels Finance SA                                                                   | CUSIP: 75102XAB2<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |   2876000 | PA      | $2791552.87   | 0.09%             | 2034-03-05      | Fixed         | 6.45%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31391PK21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10440 | PA      | $10957.32     | 0.00%             | 2032-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Chase Auto Credit Linked Notes                                | Chase Auto Credit Linked Notes, Series 2025-1, Class B                                    | CUSIP: 46591HCS7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3211384 | PA      | $3226691.57   | 0.10%             | 2033-02-25      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Nordea Kredit Realkreditaktieselskab                          | Nordea Kredit Realkreditaktieselskab                                                      | CUSIP: N/A<br>LEI: 52990080NNXXLC14OC65       | Long             | DBT              | CORP              | DK        |  26733000 | PA      | $4074980.31   | 0.13%             | 2056-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust                                  | JW Commercial Mortgage Trust, Series 2024-MRCO, Class A                                   | CUSIP: 46657XAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $4017639.20   | 0.12%             | 2039-06-15      | Floating      | 5.77%                 | Yes           |                  2 | On Loan: No      |
| Jersey Mike's Funding LLC                                     | Jersey Mike's Funding LLC, Series 2019-1A, Class A2                                       | CUSIP: 476681AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1893170 | PA      | $1891994.53   | 0.06%             | 2050-02-15      | Fixed         | 4.43%                 | Yes           |                  2 | On Loan: No      |
| Global Medical Response, Inc.                                 | Global Medical Response, Inc.                                                             | CUSIP: 37960BAD7<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | DBT              | CORP              | US        |    500000 | PA      | $514967.50    | 0.02%             | 2032-10-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                  | Royal Caribbean Cruises Ltd.                                                              | CUSIP: 78017TAB9<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   8415000 | PA      | $8467328.00   | 0.26%             | 2036-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Beach Acquisition Bidco LLC                                   | Beach Acquisition Bidco LLC                                                               | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |   4567000 | PA      | $4937666.85   | 0.15%             | 2033-07-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| First Quantum Minerals Ltd.                                   | First Quantum Minerals Ltd.                                                               | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   6383000 | PA      | $6747513.28   | 0.21%             | 2033-03-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: —       |
| Castlelake Aircraft Structured Trust                          | Castlelake Aircraft Structured Trust, Series 2025-2A, Class B                             | CUSIP: 14855XAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6514439 | PA      | $6574916.31   | 0.20%             | 2050-08-15      | Fixed         | 6.30%                 | Yes           |                  2 | On Loan: No      |
| Silver Point CLO 12 Ltd.                                      | Silver Point CLO 12 Ltd., Series 2025-12A, Class D1                                       | CUSIP: 82809MAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1700000 | PA      | $1706375.00   | 0.05%             | 2038-10-15      | Floating      | 6.65%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | Goldman Sachs Bank USA                                                                    | CUSIP: 38151LAG5<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | DBT              | CORP              | US        |     24000 | PA      | $24188.46     | 0.00%             | 2027-05-21      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| Calderys Financing LLC                                        | Calderys Financing LLC                                                                    | CUSIP: 128786AA8<br>LEI: 254900ZIKDM74XNEFV84 | Long             | DBT              | CORP              | US        |   3549000 | PA      | $3767540.32   | 0.12%             | 2028-06-01      | Fixed         | 11.25%                | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                                       | American Airlines, Inc.                                                                   | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1209250 | PA      | $1210810.93   | 0.04%             | 2026-04-20      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| AASET Ltd.                                                    | AASET Ltd., Series 2025-2A, Class B                                                       | CUSIP: 00039NAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4148154 | PA      | $4174835.79   | 0.13%             | 2050-02-16      | Fixed         | 6.01%                 | Yes           |                  2 | On Loan: No      |
| UniCredit SpA                                                 | UniCredit SpA                                                                             | CUSIP: 904678AS8<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |   2500000 | PA      | $2521527.95   | 0.08%             | 2035-06-30      | Variable      | 5.46%                 | Yes           |                  2 | On Loan: No      |
| Essent Group Ltd.                                             | Essent Group Ltd.                                                                         | CUSIP: 29669JAA7<br>LEI: 254900QUO860OUT6ZF83 | Long             | DBT              | CORP              | BM        |   2753000 | PA      | $2885587.34   | 0.09%             | 2029-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31371HVG0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3491 | PA      | $3609.81      | 0.00%             | 2029-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31385HQ21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1120 | PA      | $1158.58      | 0.00%             | 2031-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31374SY39<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        75 | PA      | $77.46        | 0.00%             | 2028-03-01      | Fixed         | 6.50%                 | 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      | $7470.54      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                          | GNMA, Series 2024-146, Class FE                                                           | CUSIP: 38384W3E3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5042986 | PA      | $5066229.57   | 0.16%             | 2064-09-20      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| Global Atlantic Fin Co.                                       | Global Atlantic Fin Co.                                                                   | CUSIP: 37959GAF4<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |   7147000 | PA      | $7573267.31   | 0.24%             | 2054-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Belrose Funding Trust II                                      | Belrose Funding Trust II                                                                  | CUSIP: 08079KAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8779000 | PA      | $9515650.98   | 0.30%             | 2055-05-15      | Fixed         | 6.79%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                          | BANK, Series 2019-BN21, Class XA                                                          | CUSIP: 06540BBE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13614068 | PA      | $359576.12    | 0.01%             | 2052-10-17      | Variable      | 0.95%                 | No            |                  2 | On Loan: No      |
| N/A                                                           | U.S. Treasury 10 Year Ultra Bonds                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       662 | NC      | $-373819.59   | -0.01%            |  |  |  | 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        |   4337000 | PA      | $4446432.62   | 0.14%             | 2029-05-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31380BA26<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       333 | PA      | $344.83       | 0.00%             | 2028-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Bonds                                                                       | CUSIP: 912810RM2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  37307000 | PA      | $29044082.24  | 0.90%             | 2045-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31403HAY6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2205 | PA      | $2280.37      | 0.00%             | 2033-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Chase Commercial Mortgage Securities Trust        | J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2013-LC11, Class XB        | CUSIP: 46639YAT4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4635457 | PA      | $12674.27     | 0.00%             | 2046-04-15      | Variable      | 0.61%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                    | UMBS Pool, 30 Year                                                                        | CUSIP: 3132DWNK5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  18886584 | PA      | $19059995.39  | 0.59%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                                 | Lendbuzz Securitization Trust, Series 2025-2A, Class C                                    | CUSIP: 52611JAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4545000 | PA      | $4477987.16   | 0.14%             | 2031-04-15      | Fixed         | 5.28%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                             | Clarios Global LP                                                                         | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   2823000 | PA      | $2918431.52   | 0.09%             | 2030-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Apollo Debt Solutions BDC                                     | Apollo Debt Solutions BDC                                                                 | CUSIP: 03770DAD5<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |    521000 | PA      | $552411.27    | 0.02%             | 2031-07-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Hawaii Hotel Trust                                            | Hawaii Hotel Trust, Series 2025-MAUI, Class A                                             | CUSIP: 419909AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3045000 | PA      | $3051004.74   | 0.09%             | 2042-03-15      | Floating      | 5.54%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Strips, Series 305, Class 5                                                         | CUSIP: 31364JK93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3835 | PA      | $266.66       | 0.00%             | 2029-12-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                                     | BPR Trust, Series 2022-SSP, Class A                                                       | CUSIP: 05602HAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2320000 | PA      | $2332859.99   | 0.07%             | 2039-05-15      | Floating      | 7.15%                 | 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      | $991.75       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31390TK32<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2328 | PA      | $2441.40      | 0.00%             | 2032-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 912828YS3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  65953000 | PA      | $61186865.56  | 1.90%             | 2029-11-15      | Fixed         | 1.75%                 | 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      | $9104.72      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DBZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7916 | PA      | $8236.16      | 0.00%             | 2036-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Oaktree Strategic Credit Fund                                 | Oaktree Strategic Credit Fund                                                             | CUSIP: 67403AAF6<br>LEI: 2549006RRE0JC7G43241 | Long             | DBT              | CORP              | US        |   9787000 | PA      | $10003183.77  | 0.31%             | 2030-07-15      | Fixed         | 6.19%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                           | Rocket Mortgage LLC                                                                       | CUSIP: 74841CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1536000 | PA      | $1466152.86   | 0.05%             | 2029-03-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: —       |
| MACH 1 Cayman Ltd.                                            | MACH 1 Cayman Ltd., Series 2019-1, Class A                                                | CUSIP: 55446MAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    200652 | PA      | $198346.91    | 0.01%             | 2039-10-15      | Fixed         | 3.47%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                                        | Oportun Issuance Trust, Series 2025-C, Class C                                            | CUSIP: 68378RAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4775000 | PA      | $4792616.41   | 0.15%             | 2033-07-08      | Fixed         | 5.18%                 | Yes           |                  2 | On Loan: No      |
| Service Experts Issuer LLC                                    | Service Experts Issuer LLC, Series 2025-1A, Class A                                       | CUSIP: 81758JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4639901 | PA      | $4666145.95   | 0.15%             | 2037-01-20      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31374TG78<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3391 | PA      | $3506.48      | 0.00%             | 2028-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Newtek Small Business Loan Trust                              | Newtek Small Business Loan Trust, Series 2023-1, Class A                                  | CUSIP: 65254RAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    642222 | PA      | $647086.15    | 0.02%             | 2050-07-25      | Floating      | 6.75%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Strips, Series 305, Class 6                                                         | CUSIP: 31364JL27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5706 | PA      | $402.62       | 0.00%             | 2029-12-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding LLC                                     | Driven Brands Funding LLC, Series 2020-2A, Class A2                                       | CUSIP: 26209XAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7118743 | PA      | $6886455.18   | 0.21%             | 2051-01-20      | Fixed         | 3.24%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31375WV73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        65 | PA      | $64.97        | 0.00%             | 2026-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                     | Ford Motor Credit Co. LLC                                                                 | CUSIP: 345397B36<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2916000 | PA      | $2720953.10   | 0.08%             | 2030-11-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31387CSW2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       466 | PA      | $481.90       | 0.00%             | 2031-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte. Ltd.                     | Seagate Data Storage Technology Pte. Ltd.                                                 | CUSIP: 81180LAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |   4870500 | PA      | $5520979.63   | 0.17%             | 2032-12-01      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| Sunbird Engine Finance LLC                                    | Sunbird Engine Finance LLC, Series 2020-1A, Class A                                       | CUSIP: 86709LAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    528482 | PA      | $519652.35    | 0.02%             | 2045-02-15      | Fixed         | 3.67%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Other                                                                               | CUSIP: 31418CTP9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     84939 | PA      | $78648.94     | 0.00%             | 2048-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC, REMIC, Series 4265, Class ST                                                       | CUSIP: 3137B5SC8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    286195 | PA      | $23449.62     | 0.00%             | 2043-11-15      | Floating      | 1.51%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                      | Celanese US Holdings LLC                                                                  | CUSIP: 15089QAY0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   3371000 | PA      | $3506691.82   | 0.11%             | 2033-11-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: —       |
| Castlelake Aircraft Structured Trust                          | Castlelake Aircraft Structured Trust, Series 2025-1A, Class C                             | CUSIP: 14856VAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3013260 | PA      | $3031918.09   | 0.09%             | 2050-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Bryant Park Funding Ltd.                                      | Bryant Park Funding Ltd., Series 2023-21A, Class D1R                                      | CUSIP: 117650AS0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2007500.00   | 0.06%             | 2038-10-18      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| ACHV ABS Trust                                                | ACHV ABS Trust, Series 2024-3AL, Class C                                                  | CUSIP: 00092KAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    511432 | PA      | $516738.18    | 0.02%             | 2031-12-26      | Fixed         | 5.68%                 | Yes           |                  2 | On Loan: No      |
| Goddard Funding LLC                                           | Goddard Funding LLC, Series 2024-1A, Class A2                                             | CUSIP: 380241AC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1497682 | PA      | $1535427.39   | 0.05%             | 2054-10-30      | Fixed         | 6.83%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                           | Petroleos Mexicanos                                                                       | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |  10567000 | PA      | $10754965.80  | 0.33%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| MF1X                                                          | MF1X, Series 2021-W10, Class E                                                            | CUSIP: 55284DAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |   4350000 | PA      | $4357929.18   | 0.14%             | 2034-12-15      | Floating      | 6.97%                 | Yes           |                  2 | On Loan: No      |
| Start II Ltd.                                                 | Start II Ltd., Series 2019-1, Class A                                                     | CUSIP: 85573LAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | BM        |   1324945 | PA      | $1317039.05   | 0.04%             | 2044-03-15      | Fixed         | 4.09%                 | Yes           |                  2 | On Loan: No      |
| Jefferies Financial Group, Inc.                               | Jefferies Financial Group, Inc.                                                           | CUSIP: 47233WEJ4<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   8468000 | PA      | $9006538.55   | 0.28%             | 2034-04-14      | Fixed         | 6.20%                 | No            |                  2 | On Loan: —       |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31386TFG5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       275 | PA      | $284.40       | 0.00%             | 2031-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust                                  | JW Commercial Mortgage Trust, Series 2024-MRCO, Class D                                   | CUSIP: 46657XAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4608000 | PA      | $4649908.84   | 0.14%             | 2039-06-15      | Floating      | 7.34%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                          | GNMA II, Single Family, 30 Year                                                           | CUSIP: 36179MSY7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     34010 | PA      | $33036.88     | 0.00%             | 2042-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                          | GNMA II, Single Family, 30 Year                                                           | CUSIP: 36179USU7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1305072 | PA      | $1246739.23   | 0.04%             | 2049-05-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                    | FHLMC Gold Pool, Other                                                                    | CUSIP: 3133N3VU5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     26683 | PA      | $25300.41     | 0.00%             | 2049-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                           | U.S. Treasury 2 Year Notes                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |     -1928 | NC      | $47832.92     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVPRO Master Issuer LLC                                     | SERVPRO Master Issuer LLC, Series 2019-1A, Class A2                                       | CUSIP: 817743AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4476875 | PA      | $4436110.81   | 0.14%             | 2049-10-25      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| FNMA or FHLMC                                                 | UMBS, Single Family, 30 Year                                                              | CUSIP: 01F0506A9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        | 281899000 | PA      | $279597562.47 | 8.70%             | 2055-10-25      | Fixed         | 5.00%                 | 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      | $34552.73     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust                     | FHLMC Seasoned Credit Risk Transfer Trust, Series 2018-4, Class HT                        | CUSIP: 35563PGZ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    801672 | PA      | $692470.57    | 0.02%             | 2058-03-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31418FQG5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  45000000 | PA      | $46034534.25  | 1.43%             | 2055-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31371HNN4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       363 | PA      | $375.29       | 0.00%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Oportun Issuance Trust                                        | Oportun Issuance Trust, Series 2025-A, Class C                                            | CUSIP: 68377TAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6476000 | PA      | $6486316.92   | 0.20%             | 2033-02-08      | Fixed         | 5.89%                 | Yes           |                  2 | On Loan: No      |
| Ballyrock CLO 16 Ltd.                                         | Ballyrock CLO 16 Ltd., Series 2021-16A, Class C1R                                         | CUSIP: 05876KAS4<br>LEI: 2549003CI27B7ZDOMR46 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1494415.50   | 0.05%             | 2038-04-20      | Floating      | 7.08%                 | Yes           |                  2 | On Loan: No      |
| ACM Auto Trust                                                | ACM Auto Trust, Series 2025-2A, Class A                                                   | CUSIP: 00161TAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1519533 | PA      | $1514463.51   | 0.05%             | 2028-06-20      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Bonds                                                                       | CUSIP: 912810RK6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10004000 | PA      | $7168882.01   | 0.22%             | 2045-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Oaktree CLO Ltd.                                              | Oaktree CLO Ltd., Series 2019-4A, Class D2RR                                              | CUSIP: 67402CBN5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1006249.00   | 0.03%             | 2037-07-20      | Floating      | 9.03%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Other                                                                               | CUSIP: 31418DD74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     89414 | PA      | $82289.78     | 0.00%             | 2049-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC, REMIC, Series 5556, Class FA                                                       | CUSIP: 3137HMBS8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4768778 | PA      | $4778171.06   | 0.15%             | 2055-07-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                  | Barclays plc                                                                              | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   5252000 | PA      | $5566498.58   | 0.17%             | 2029-03-15      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31374TW39<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2806 | PA      | $2901.12      | 0.00%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Neighborly Issuer LLC                                         | Neighborly Issuer LLC, Series 2021-1A, Class A2                                           | CUSIP: 64016NAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4734838 | PA      | $4491995.73   | 0.14%             | 2051-04-30      | Fixed         | 3.58%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC, Multifamily Structured Pass-Through Certificates, Series K125, Class X3            | CUSIP: 3137F9ZB0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   9522157 | PA      | $1108366.66   | 0.03%             | 2049-02-25      | Variable      | 2.74%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Bonds                                                                       | CUSIP: 912810RS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  71718000 | PA      | $50451931.93  | 1.57%             | 2046-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Cologix Data Centers US Issuer LLC                            | Cologix Data Centers US Issuer LLC, Series 2021-1A, Class A2                              | CUSIP: 19521UAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12425000 | PA      | $12132296.82  | 0.38%             | 2051-12-26      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| STAR Trust                                                    | STAR Trust, Series 2021-SFR2, Class F                                                     | CUSIP: 78474LAL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2490894 | PA      | $2496117.65   | 0.08%             | 2039-01-17      | Floating      | 7.11%                 | Yes           |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                            | General Motors Financial Co., Inc.                                                        | CUSIP: 37045XEV4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   5074000 | PA      | $5271626.52   | 0.16%             | 2034-04-04      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Antares Holdings LP                                           | Antares Holdings LP                                                                       | CUSIP: 03666HAG6<br>LEI: 5493008EAIGV4283RM42 | Long             | DBT              | CORP              | US        |   4666000 | PA      | $4771734.27   | 0.15%             | 2029-02-08      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                               | Santander UK Group Holdings plc                                                           | CUSIP: 80281LAG0<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   4464000 | PA      | $4420356.72   | 0.14%             | 2028-11-03      | Variable      | 3.82%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                             | Alliant Holdings Intermediate LLC                                                         | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6315000 | PA      | $6529825.31   | 0.20%             | 2031-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: —       |
| Bridge Trust                                                  | Bridge Trust, Series 2025-SFR1, Class C                                                   | CUSIP: 10807GAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3585000 | PA      | $3391377.74   | 0.11%             | 2042-09-17      | Fixed         | 4.20%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31387FJD7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1479 | PA      | $1542.09      | 0.00%             | 2031-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Blue Owl Credit Income Corp.                                  | Blue Owl Credit Income Corp.                                                              | CUSIP: 09581CAB7<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |   1986000 | PA      | $2071174.46   | 0.06%             | 2029-09-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DNN7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     21575 | PA      | $22477.14     | 0.00%             | 2037-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                                      | Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |   4059107 | NS      | $4059107.45   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Nykredit Realkredit A/S                                       | Nykredit Realkredit A/S, Series 01E                                                       | CUSIP: N/A<br>LEI: LIU16F6VZJSD6UKHD557       | Long             | DBT              | CORP              | DK        | 146484333 | PA      | $22328985.61  | 0.69%             | 2056-10-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Goodgreen Trust                                               | Goodgreen Trust, Series 2021-1A, Class C                                                  | CUSIP: 38217UAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1937445 | PA      | $1420924.33   | 0.04%             | 2056-10-15      | Fixed         | 5.74%                 | Yes           |                  2 | On Loan: No      |
| LHOME Mortgage Trust                                          | LHOME Mortgage Trust, Series 2024-RTL1, Class A1                                          | CUSIP: 50205DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3290000 | PA      | $3316434.16   | 0.10%             | 2029-01-25      | Variable      | 7.02%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                                      | Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |  85937162 | NS      | $85937162.50  | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| EMRLD Borrower LP                                             | EMRLD Borrower LP                                                                         | CUSIP: 29103CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1119000 | PA      | $1151673.68   | 0.04%             | 2030-12-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: —       |
| BFLD Mortgage Trust                                           | BFLD Mortgage Trust, Series 2024-VICT, Class A                                            | CUSIP: 05555VAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9715000 | PA      | $9760309.79   | 0.30%             | 2041-07-15      | Floating      | 6.04%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31380MFU5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1028 | PA      | $1063.01      | 0.00%             | 2028-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FortiFi                                                       | FortiFi, Series 2023-1A, Class A                                                          | CUSIP: 34964YAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   2379874 | PA      | $2382233.24   | 0.07%             | 2059-09-20      | Fixed         | 6.23%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial, Inc.                                          | Ally Financial, Inc.                                                                      | CUSIP: 370425RZ5<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   3040000 | PA      | $3460186.85   | 0.11%             | 2031-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Other                                                                               | CUSIP: 3140JJME6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    123120 | PA      | $114560.21    | 0.00%             | 2048-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                    | UMBS Pool, 30 Year                                                                        | CUSIP: 3132DWMX8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  13389696 | PA      | $13289448.12  | 0.41%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31374T2L2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1722 | PA      | $1781.07      | 0.00%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                    | UMBS Pool, 30 Year                                                                        | CUSIP: 3142J6BT9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  27122485 | PA      | $27373635.40  | 0.85%             | 2055-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                   | Extended Stay America Trust, Series 2021-ESH, Class D                                     | CUSIP: 30227FAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3533326 | PA      | $3538598.86   | 0.11%             | 2038-07-15      | Floating      | 6.51%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 3140HDJW5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    230581 | PA      | $220869.29    | 0.01%             | 2048-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31388FFW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       199 | PA      | $206.63       | 0.00%             | 2031-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31390TJ67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1484 | PA      | $1542.57      | 0.00%             | 2032-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31402CY22<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       494 | PA      | $515.71       | 0.00%             | 2034-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                          | Royal Bank of Canada                                                                      | CUSIP: 78017DAM0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   2068000 | PA      | $2096167.81   | 0.07%             | 2031-08-06      | Variable      | 4.70%                 | No            |                  2 | On Loan: —       |
| Brookfield Asset Management Ltd.                              | Brookfield Asset Management Ltd.                                                          | CUSIP: 113004AA3<br>LEI: 549300CZ84WPNJZKY093 | Long             | DBT              | CORP              | CA        |   9364000 | PA      | $9814808.62   | 0.31%             | 2035-04-24      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Bryant Park Funding Ltd.                                      | Bryant Park Funding Ltd., Series 2023-20A, Class DR                                       | CUSIP: 117919AJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3021759.00   | 0.09%             | 2038-04-15      | Floating      | 7.73%                 | Yes           |                  2 | On Loan: No      |
| Qorvo, Inc.                                                   | Qorvo, Inc.                                                                               | CUSIP: 74736KAJ0<br>LEI: 254900YAUJV2EUEVBR11 | Long             | DBT              | CORP              | US        |   3471000 | PA      | $3192182.55   | 0.10%             | 2031-04-01      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Castlelake Aircraft Structured Trust                          | Castlelake Aircraft Structured Trust, Series 2025-2A, Class A                             | CUSIP: 14855XAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2090340 | PA      | $2108540.50   | 0.07%             | 2050-08-15      | Fixed         | 5.46%                 | Yes           |                  2 | On Loan: No      |
| ServiceMaster Funding LLC                                     | ServiceMaster Funding LLC, Series 2021-1, Class A2I                                       | CUSIP: 81761TAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2659637 | PA      | $2479461.06   | 0.08%             | 2051-07-30      | Fixed         | 2.87%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31418FGY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  23952012 | PA      | $24171932.90  | 0.75%             | 2055-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                                   | FIGRE Trust, Series 2025-FL1, Class A1                                                    | CUSIP: 31684QAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7608577 | PA      | $7663855.30   | 0.24%             | 2055-07-25      | Variable      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| Loanpal Solar Loan Ltd.                                       | Loanpal Solar Loan Ltd., Series 2021-1GS, Class A                                         | CUSIP: 53948PAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    811602 | PA      | $681697.21    | 0.02%             | 2048-01-20      | Fixed         | 2.29%                 | Yes           |                  2 | On Loan: No      |
| Charter Communications Operating LLC                          | Charter Communications Operating LLC                                                      | CUSIP: 161175CA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $111831.89    | 0.00%             | 2052-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Other                                                                               | CUSIP: 31418DK27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    353795 | PA      | $324500.27    | 0.01%             | 2050-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Nexa Resources SA                                             | Nexa Resources SA                                                                         | CUSIP: 65290DAB9<br>LEI: 549300QRMRHM7GAU7L47 | Long             | DBT              | CORP              | LU        |   3035000 | PA      | $3225163.30   | 0.10%             | 2034-04-09      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                                    | J.P. Morgan Mortgage Trust, Series 2007-A4, Class 2A3                                     | CUSIP: 46631JAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     41728 | PA      | $32828.80     | 0.00%             | 2037-06-25      | Variable      | 4.84%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, REMIC, Series 1997-57, Class PV                                                     | CUSIP: 31359QJV7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5378 | PA      | $219.26       | 0.00%             | 2027-09-18      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Strips, Series 305, Class 11                                                        | CUSIP: 31364JL76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10382 | PA      | $764.45       | 0.00%             | 2029-09-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31391ASF7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4616 | PA      | $4848.96      | 0.00%             | 2032-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Barings CLO Ltd.                                              | Barings CLO Ltd., Series 2019-4A, Class D2R                                               | CUSIP: 06761VAY3<br>LEI: 549300QO1I8V07FLPQ13 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1008712.00   | 0.03%             | 2037-07-15      | Floating      | 8.92%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC Gold Pool, 30 Year                                                                  | CUSIP: 31293UBZ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       119 | PA      | $119.08       | 0.00%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CLU3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3750000 | PA      | $3805444.35   | 0.12%             | 2031-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Tricon Residential Trust                                      | Tricon Residential Trust, Series 2025-SFR1, Class B                                       | CUSIP: 895974AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1800000 | PA      | $1803344.76   | 0.06%             | 2042-03-17      | Floating      | 5.49%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                           | U.S. Treasury 10 Year Notes                                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       473 | NC      | $151942.94    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| California Buyer Ltd.                                         | California Buyer Ltd.                                                                     | CUSIP: 13005HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   5984000 | PA      | $6137495.58   | 0.19%             | 2032-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: —       |
| Stellantis Financial Services US Corp.                        | Stellantis Financial Services US Corp.                                                    | CUSIP: 85855FAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4443000 | PA      | $4454353.42   | 0.14%             | 2030-09-15      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: —       |
| Harvest US CLO Ltd.                                           | Harvest US CLO Ltd., Series 2024-2A, Class D1                                             | CUSIP: 41756YAJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1508424.00   | 0.05%             | 2037-10-15      | Floating      | 7.57%                 | Yes           |                  2 | On Loan: No      |
| Azorra Finance Ltd.                                           | Azorra Finance Ltd.                                                                       | CUSIP: 05480AAA3<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |    500000 | PA      | $527709.50    | 0.02%             | 2030-04-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31387H3F5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3444 | PA      | $3579.13      | 0.00%             | 2031-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Apollo Global Management, Inc.                                | Apollo Global Management, Inc.                                                            | CUSIP: 03769MAE6<br>LEI: 254900LMFT1CY9IYB476 | Long             | DBT              | CORP              | US        |   7588000 | PA      | $7629216.65   | 0.24%             | 2035-08-12      | Fixed         | 5.15%                 | No            |                  2 | On Loan: —       |
| New Flyer Holdings, Inc.                                      | New Flyer Holdings, Inc.                                                                  | CUSIP: 64438WAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5826000 | PA      | $6240160.90   | 0.19%             | 2030-07-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31371HLU0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1831 | PA      | $1892.98      | 0.00%             | 2029-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Oscar US Funding XVI LLC                                      | Oscar US Funding XVI LLC, Series 2024-1A, Class A2                                        | CUSIP: 68784GAB9<br>LEI: 3538004TGTV49T7RNL88 | Long             | ABS-O            | CORP              | JP        |    502066 | PA      | $503420.42    | 0.02%             | 2027-02-10      | Fixed         | 5.48%                 | Yes           |                  2 | On Loan: No      |
| TX Trust                                                      | TX Trust, Series 2024-HOU, Class A                                                        | CUSIP: 90216DAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3350000 | PA      | $3348918.62   | 0.10%             | 2039-06-15      | Floating      | 5.74%                 | Yes           |                  2 | On Loan: No      |
| Retained Vantage Data Centers Issuer LLC                      | Retained Vantage Data Centers Issuer LLC, Series 2025-1A, Class A2A                       | CUSIP: 76134KAM6<br>LEI: 254900N4NW6XZ9B4HM15 | Long             | ABS-O            | CORP              | US        |  11370000 | PA      | $11419451.54  | 0.36%             | 2050-08-15      | Fixed         | 5.09%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31400C4G6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4631 | PA      | $4872.08      | 0.00%             | 2033-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31383HYG3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4654 | PA      | $4868.41      | 0.00%             | 2029-07-01      | Fixed         | 7.00%                 | 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      | $25.44        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC Gold Pool, Other                                                                    | CUSIP: 31335Y5S1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      5838 | PA      | $6023.07      | 0.00%             | 2038-02-01      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| N/A                                                           | U.S. Treasury 5 Year Notes                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      1893 | NC      | $19872.32     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31391PJC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       606 | PA      | $633.81       | 0.00%             | 2032-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding LLC                                     | Driven Brands Funding LLC, Series 2019-1A, Class A2                                       | CUSIP: 26208LAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3160048 | PA      | $3159654.72   | 0.10%             | 2049-04-20      | Fixed         | 4.64%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CBL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6995000 | PA      | $6113930.58   | 0.19%             | 2031-02-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Centene Corp.                                                 | Centene Corp.                                                                             | CUSIP: 15135BAV3<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   9506000 | PA      | $8750861.80   | 0.27%             | 2030-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31382GAZ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       182 | PA      | $188.11       | 0.00%             | 2029-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Other                                                                               | CUSIP: 31418DE40<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    155002 | PA      | $146972.20    | 0.00%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                                 | UMBS, Single Family, 30 Year                                                              | CUSIP: 01F0426A6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   6657175 | PA      | $6459020.19   | 0.20%             | 2055-10-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                     | Ford Motor Credit Co. LLC                                                                 | CUSIP: 345397G23<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1316839 | PA      | $1313931.25   | 0.04%             | 2029-09-06      | Fixed         | 5.30%                 | No            |                  2 | On Loan: —       |
| Arches Buyer, Inc.                                            | Arches Buyer, Inc.                                                                        | CUSIP: 039524AA1<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |   5993000 | PA      | $5878000.92   | 0.18%             | 2028-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| EPR Properties                                                | EPR Properties                                                                            | CUSIP: 26884UAG4<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |   4305000 | PA      | $3975905.31   | 0.12%             | 2031-11-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Realkredit Danmark A/S                                        | Realkredit Danmark A/S, Series 23S                                                        | CUSIP: N/A<br>LEI: 549300NLOMBOWE943Y30       | Long             | DBT              | CORP              | DK        |  24176000 | PA      | $3681388.75   | 0.11%             | 2056-10-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| INTOWN Mortgage Trust                                         | INTOWN Mortgage Trust, Series 2025-STAY, Class D                                          | CUSIP: 46117WAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5357000 | PA      | $5364529.80   | 0.17%             | 2042-03-15      | Floating      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| HLTN Commercial Mortgage Trust                                | HLTN Commercial Mortgage Trust, Series 2024-DPLO, Class A                                 | CUSIP: 40424UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3164100 | PA      | $3173288.86   | 0.10%             | 2041-06-15      | Floating      | 5.79%                 | Yes           |                  2 | On Loan: No      |
| Royal Bank of Canada                                          | Royal Bank of Canada                                                                      | CUSIP: 78017DAC2<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   7182000 | PA      | $7402351.37   | 0.23%             | 2031-02-04      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| GNMA                                                          | GNMA II, Single Family, 30 Year                                                           | CUSIP: 36202FZY5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     34809 | PA      | $33868.56     | 0.00%             | 2041-12-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                            | LPL Holdings, Inc.                                                                        | CUSIP: 50212YAQ7<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   3939000 | PA      | $4042542.17   | 0.13%             | 2035-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| BAMLL Trust                                                   | BAMLL Trust, Series 2024-BHP, Class A                                                     | CUSIP: 05493WAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3515000 | PA      | $3531094.83   | 0.11%             | 2039-08-15      | Floating      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CNT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3549000 | PA      | $3578112.87   | 0.11%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31390CR99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       795 | PA      | $829.12       | 0.00%             | 2032-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding LLC                                     | Driven Brands Funding LLC, Series 2020-1A, Class A2                                       | CUSIP: 26209XAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3068016 | PA      | $3016068.61   | 0.09%             | 2050-07-20      | Fixed         | 3.79%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31390Q6U4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5896 | PA      | $6171.96      | 0.00%             | 2032-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Bonds                                                                       | CUSIP: 912810FT0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1838000 | PA      | $1899529.92   | 0.06%             | 2036-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| Liberty Mutual Group, Inc.                                    | Liberty Mutual Group, Inc.                                                                | CUSIP: 53079EBM5<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |   5085000 | PA      | $4995518.49   | 0.16%             | 2051-12-15      | Variable      | 4.12%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31371J7F5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        46 | PA      | $47.72        | 0.00%             | 2031-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BAMLL Commercial Mortgage Securities Trust                    | BAMLL Commercial Mortgage Securities Trust, Series 2019-BPR, Class BNM                    | CUSIP: 05492PAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3440000 | PA      | $3215913.58   | 0.10%             | 2032-11-05      | Fixed         | 3.46%                 | Yes           |                  2 | On Loan: No      |
| Charter Communications Operating LLC                          | Charter Communications Operating LLC                                                      | CUSIP: 161175CC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3564000 | PA      | $2471329.14   | 0.08%             | 2061-12-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                    | UMBS Pool, 30 Year                                                                        | CUSIP: 3132AD3U0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    230802 | PA      | $227442.32    | 0.01%             | 2049-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COLT Trust                                                    | COLT Trust, Series 2021-RPL1, Class A1                                                    | CUSIP: 12598PAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    980313 | PA      | $897621.48    | 0.03%             | 2061-09-25      | Variable      | 1.67%                 | Yes           |                  2 | On Loan: No      |
| SHR Trust                                                     | SHR Trust, Series 2024-LXRY, Class A                                                      | CUSIP: 784234AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3475000 | PA      | $3485356.20   | 0.11%             | 2041-10-15      | Floating      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| Sixth Street CLO XX Ltd.                                      | Sixth Street CLO XX Ltd., Series 2021-20A, Class D1R                                      | CUSIP: 83012QAW4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2250000 | PA      | $2276550.00   | 0.07%             | 2038-07-17      | Floating      | 7.21%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31418FF44<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  42331370 | PA      | $42720046.01  | 1.33%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Battalion CLO XXIX Ltd.                                       | Battalion CLO XXIX Ltd., Series 2025-29A, Class D1                                        | CUSIP: 07135TAJ8<br>LEI: 254900BHK74DPDADPT35 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1514781.00   | 0.05%             | 2038-03-31      | Floating      | 7.58%                 | Yes           |                  2 | On Loan: No      |
| Navigator Aviation Ltd.                                       | Navigator Aviation Ltd., Series 2025-1, Class A                                           | CUSIP: 63943GAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   4600000 | PA      | $4626220.00   | 0.14%             | 2050-10-15      | Fixed         | 5.11%                 | Yes           |                  2 | On Loan: No      |
| DB Master Finance LLC                                         | DB Master Finance LLC, Series 2017-1A, Class A2II                                         | CUSIP: 233046AF8<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |   2538200 | PA      | $2512038.26   | 0.08%             | 2047-11-20      | Fixed         | 4.03%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Bonds                                                                       | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  74366000 | PA      | $77241873.03  | 2.40%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DF22<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     15702 | PA      | $16344.30     | 0.00%             | 2037-08-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                      | PNC Financial Services Group, Inc. (The)                                                  | CUSIP: 693475CC7<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   3217000 | PA      | $3357843.38   | 0.10%             | 2036-01-29      | Variable      | 5.58%                 | No            |                  2 | On Loan: —       |
| STAR Trust                                                    | STAR Trust, Series 2025-SFR5, Class C                                                     | CUSIP: 85520CAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2753000 | PA      | $2757034.25   | 0.09%             | 2042-02-17      | Floating      | 6.09%                 | Yes           |                  2 | On Loan: No      |
| PENN Commercial Mortgage Trust                                | PENN Commercial Mortgage Trust, Series 2025-P11, Class B                                  | CUSIP: 69382VAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2926000 | PA      | $2983126.35   | 0.09%             | 2042-08-10      | Variable      | 6.12%                 | Yes           |                  2 | On Loan: No      |
| AASET                                                         | AASET, Series 2025-1A, Class A                                                            | CUSIP: 00258PAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8594891 | PA      | $8799418.15   | 0.27%             | 2050-02-16      | Fixed         | 5.94%                 | Yes           |                  2 | On Loan: No      |
| TerraForm Power Operating LLC                                 | TerraForm Power Operating LLC                                                             | CUSIP: 88104LAG8<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |   4060000 | PA      | $3927221.76   | 0.12%             | 2030-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                          | GNMA II, Single Family, 30 Year                                                           | CUSIP: 36194TQH2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     88362 | PA      | $82023.88     | 0.00%             | 2046-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                          | JPMorgan Chase & Co.                                                                      | CUSIP: 46647PEV4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   4381000 | PA      | $4525648.22   | 0.14%             | 2031-01-24      | Variable      | 5.14%                 | No            |                  2 | On Loan: —       |
| Eaton Vance High Yield ETF                                    | Eaton Vance High Yield ETF                                                                | CUSIP: 61774R809<br>LEI: 25490092F7UI2XO21N32 | Long             |  | RF                | US        |      9300 | NS      | $495085.50    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Provident Funding Mortgage Trust                              | Provident Funding Mortgage Trust, Series 2025-3, Class A3                                 | CUSIP: 74388PAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4693651 | PA      | $4778416.53   | 0.15%             | 2055-08-25      | Variable      | 6.00%                 | 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      | $479.52       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31371HQX9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3029 | PA      | $3131.89      | 0.00%             | 2029-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                          | JPMorgan Chase & Co.                                                                      | CUSIP: 46647PEG7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  10838000 | PA      | $11323514.44  | 0.35%             | 2030-04-22      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31384V3E0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       216 | PA      | $223.07       | 0.00%             | 2030-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31374TTT6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1015 | PA      | $1050.00      | 0.00%             | 2029-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31384VX56<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       197 | PA      | $204.16       | 0.00%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Oportun Issuance Trust                                        | Oportun Issuance Trust, Series 2021-C, Class A                                            | CUSIP: 68377WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    921030 | PA      | $903903.57    | 0.03%             | 2031-10-08      | Fixed         | 2.18%                 | Yes           |                  2 | On Loan: No      |
| Raizen Fuels Finance SA                                       | Raizen Fuels Finance SA                                                                   | CUSIP: 75102XAD8<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |   4309000 | PA      | $3972251.65   | 0.12%             | 2035-01-17      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| FMC Issuer Trust-FMSR                                         | FMC Issuer Trust-FMSR, Series 2024-FT1, Class A                                           | CUSIP: 30191JAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2810000 | PA      | $2827848.00   | 0.09%             | 2029-09-25      | Fixed         | 6.56%                 | Yes           |                  2 | On Loan: No      |
| Westpac Banking Corp.                                         | Westpac Banking Corp.                                                                     | CUSIP: 961214EX7<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |   5742000 | PA      | $5123735.95   | 0.16%             | 2036-11-18      | Variable      | 3.02%                 | No            |                  2 | On Loan: —       |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CAE1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  41330000 | PA      | $35639860.01  | 1.11%             | 2030-08-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                      | Celanese US Holdings LLC                                                                  | CUSIP: 15089QAK0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   1217000 | PA      | $1179962.67   | 0.04%             | 2026-08-05      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                                   | FIGRE Trust, Series 2025-HE5, Class A                                                     | CUSIP: 31684MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2690009 | PA      | $2727528.28   | 0.08%             | 2055-08-25      | Variable      | 5.29%                 | Yes           |                  2 | On Loan: No      |
| Virgin Media Vendor Financing Notes IV DAC                    | Virgin Media Vendor Financing Notes IV DAC                                                | CUSIP: 92770QAA5<br>LEI: 635400ZZNJSEA4CAJR23 | Long             | DBT              | CORP              | IE        |   3711000 | PA      | $3638319.69   | 0.11%             | 2028-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                    | UMBS Pool, 30 Year                                                                        | CUSIP: 3132DWNJ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  55134260 | PA      | $55640489.14  | 1.73%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                           | Societe Generale SA                                                                       | CUSIP: 83368RAY8<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   2519000 | PA      | $2348031.64   | 0.07%             | 2035-07-08      | Variable      | 3.65%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CFF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    304000 | PA      | $282648.75    | 0.01%             | 2032-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CGP0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  18392000 | PA      | $18556881.34  | 0.58%             | 2028-02-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31379JSQ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2020 | PA      | $2089.09      | 0.00%             | 2028-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Truist Bank Auto Credit-Linked Notes                          | Truist Bank Auto Credit-Linked Notes, Series 2025-1, Class B                              | CUSIP: 897926CB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6451820 | PA      | $6464517.18   | 0.20%             | 2033-09-26      | Fixed         | 4.73%                 | Yes           |                  2 | On Loan: No      |
| American National Group, Inc.                                 | American National Group, Inc.                                                             | CUSIP: 025676AR8<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |   4855000 | PA      | $5009015.17   | 0.16%             | 2055-12-01      | Variable      | 7.00%                 | No            |                  2 | On Loan: —       |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31418FLR6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2978681 | PA      | $3005099.54   | 0.09%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                                          | LHOME Mortgage Trust, Series 2023-RTL2, Class A1                                          | CUSIP: 50205BAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    431612 | PA      | $433306.09    | 0.01%             | 2028-06-25      | Variable      | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Apollo Debt Solutions BDC                                     | Apollo Debt Solutions BDC                                                                 | CUSIP: 03770DAG8<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |   5849000 | PA      | $5954439.86   | 0.19%             | 2030-08-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                                        | Oportun Issuance Trust, Series 2021-B, Class B                                            | CUSIP: 68377GAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1736081 | PA      | $1703343.58   | 0.05%             | 2031-05-08      | Fixed         | 1.96%                 | Yes           |                  2 | On Loan: No      |
| TerraForm Power Operating LLC                                 | TerraForm Power Operating LLC                                                             | CUSIP: 88104LAE3<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |   2010000 | PA      | $1996991.28   | 0.06%             | 2028-01-31      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: —       |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31381FW71<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        33 | PA      | $33.23        | 0.00%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Navigator Aviation Ltd.                                       | Navigator Aviation Ltd., Series 2024-1, Class A                                           | CUSIP: 63943DAA7<br>LEI: 984500UF8C3O89B30652 | Long             | ABS-O            | CORP              | KY        |   1893214 | PA      | $1898478.12   | 0.06%             | 2049-08-15      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31418FDA2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  17794390 | PA      | $17661163.80  | 0.55%             | 2054-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Centene Corp.                                                 | Centene Corp.                                                                             | CUSIP: 15135BAX9<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   7942000 | PA      | $6846313.74   | 0.21%             | 2031-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BFLD Commercial Mortgage Trust                                | BFLD Commercial Mortgage Trust, Series 2024-UNIV, Class B                                 | CUSIP: 08861RAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $3010585.50   | 0.09%             | 2041-11-15      | Floating      | 5.99%                 | Yes           |                  2 | On Loan: No      |
| Goodgreen Trust                                               | Goodgreen Trust, Series 2020-1A, Class C                                                  | CUSIP: 38217TAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1362173 | PA      | $1068064.74   | 0.03%             | 2055-04-15      | Fixed         | 5.53%                 | 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      | $44134.12     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DataBank Issuer II LLC                                        | DataBank Issuer II LLC, Series 2025-1A, Class A2                                          | CUSIP: 23802YAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9870000 | PA      | $9898202.54   | 0.31%             | 2055-09-27      | Fixed         | 5.18%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31390UQD1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       979 | PA      | $1026.50      | 0.00%             | 2032-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31384V4M1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4628 | PA      | $4785.65      | 0.00%             | 2030-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                  | Dell Equipment Finance Trust, Series 2023-3, Class A3                                     | CUSIP: 24702EAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    448818 | PA      | $451880.41    | 0.01%             | 2029-04-23      | Fixed         | 5.93%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                         | Bank of America Corp.                                                                     | CUSIP: 06051GHM4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    151000 | PA      | $151554.38    | 0.00%             | 2029-07-23      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero | BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero                             | CUSIP: 05533UAF5<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |   3187000 | PA      | $3131944.58   | 0.10%             | 2033-01-18      | Variable      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Olympus Water US Holding Corp.                                | Olympus Water US Holding Corp.                                                            | CUSIP: 25259KAA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |   5599000 | PA      | $5879649.88   | 0.18%             | 2028-11-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                            | Canadian Imperial Bank of Commerce                                                        | CUSIP: 13607P7Y4<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   5988000 | PA      | $6156711.90   | 0.19%             | 2085-10-28      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, 30 Year                                                                             | CUSIP: 31411NJG3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     14894 | PA      | $15483.25     | 0.00%             | 2036-12-01      | Fixed         | 5.62%                 | No            |                  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        |   9890000 | PA      | $9880070.44   | 0.31%             | 2056-03-15      | Variable      | 5.80%                 | No            |                  2 | On Loan: —       |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31382WUJ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       240 | PA      | $247.70       | 0.00%             | 2029-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ChaseFlex Trust                                               | ChaseFlex Trust, Series 2007-1, Class 2A8                                                 | CUSIP: 16165VAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    578228 | PA      | $189066.44    | 0.01%             | 2037-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp                                                  | U.S. Bancorp                                                                              | CUSIP: 91159HJN1<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1962000 | PA      | $2091332.84   | 0.07%             | 2034-06-12      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                         | Dominion Energy, Inc.                                                                     | CUSIP: 25746UDZ9<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   2526000 | PA      | $2546865.11   | 0.08%             | 2056-02-15      | Variable      | 6.00%                 | No            |                  2 | On Loan: —       |
| NYCT Trust                                                    | NYCT Trust, Series 2024-3ELV, Class A                                                     | CUSIP: 62956HAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5919078 | PA      | $5955106.24   | 0.19%             | 2029-08-15      | Floating      | 6.14%                 | Yes           |                  2 | On Loan: No      |
| FNMA or FHLMC                                                 | UMBS, Single Family, 30 Year                                                              | CUSIP: 01F0606A8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    338000 | PA      | $345314.54    | 0.01%             | 2055-10-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31416XW48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    216526 | PA      | $216986.69    | 0.01%             | 2041-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| loanDepot GMSR Trust                                          | loanDepot GMSR Trust, Series 2025-GT1, Class A                                            | CUSIP: 53946TAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6401000 | PA      | $6417184.93   | 0.20%             | 2030-05-16      | Floating      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                         | Bank of America Corp.                                                                     | CUSIP: 06051GJB6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  11431000 | PA      | $10596281.17  | 0.33%             | 2031-04-29      | Variable      | 2.59%                 | No            |                  2 | On Loan: No      |
| TYSN Mortgage Trust                                           | TYSN Mortgage Trust, Series 2023-CRNR, Class A                                            | CUSIP: 87332PAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1127000 | PA      | $1190907.89   | 0.04%             | 2033-12-10      | Variable      | 6.80%                 | Yes           |                  2 | On Loan: No      |
| Intel Corp.                                                   | Intel Corp.                                                                               | CUSIP: 458140CB4<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |     40000 | PA      | $34428.47     | 0.00%             | 2052-08-05      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                | BNP Paribas SA                                                                            | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   5920000 | PA      | $6285571.84   | 0.20%             | 2029-08-16      | Variable      | 7.75%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31388PL25<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       112 | PA      | $116.81       | 0.00%             | 2031-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SLG Office Trust                                              | SLG Office Trust, Series 2021-OVA, Class X                                                | CUSIP: 78449RAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  34800000 | PA      | $412383.48    | 0.01%             | 2041-07-15      | Variable      | 0.26%                 | Yes           |                  2 | On Loan: No      |
| GWT                                                           | GWT, Series 2024-WLF2, Class A                                                            | CUSIP: 362414AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6338000 | PA      | $6358264.49   | 0.20%             | 2041-05-15      | Floating      | 5.84%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC Gold Pool, Other                                                                    | CUSIP: 31323AEL2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     25321 | PA      | $23333.80     | 0.00%             | 2049-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Athene Holding Ltd.                                           | Athene Holding Ltd.                                                                       | CUSIP: 04686JAL5<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |   8060000 | PA      | $8633416.61   | 0.27%             | 2055-05-19      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| ReadyCap Lending Small Business Loan Trust                    | ReadyCap Lending Small Business Loan Trust, Series 2019-2, Class A                        | CUSIP: 75576QAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     64119 | PA      | $64076.28     | 0.00%             | 2044-12-27      | Floating      | 6.75%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                    | UMBS Pool, 30 Year                                                                        | CUSIP: 3132DWN82<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  23996150 | PA      | $24216477.05  | 0.75%             | 2055-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31391DLL5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       551 | PA      | $569.87       | 0.00%             | 2032-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DKJ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7780 | PA      | $8034.32      | 0.00%             | 2037-09-01      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero | BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero                             | CUSIP: 072912AA6<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |   3440000 | PA      | $3627480.00   | 0.11%             | 2035-02-11      | Variable      | 7.62%                 | Yes           |                  2 | On Loan: No      |
| FirstKey Homes Trust                                          | FirstKey Homes Trust, Series 2021-SFR3, Class G                                           | CUSIP: 33768JAW1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $963351.80    | 0.03%             | 2038-12-17      | Fixed         | 3.98%                 | Yes           |                  2 | On Loan: No      |
| Seaspan Corp.                                                 | Seaspan Corp.                                                                             | CUSIP: 81254UAK2<br>LEI: 5493007Z8Q1H45KT7W98 | Long             | DBT              | CORP              | MH        |   5890000 | PA      | $5684527.94   | 0.18%             | 2029-08-01      | Fixed         | 5.50%                 | 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      | $-64559.75    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citadel Securities Global Holdings LLC                        | Citadel Securities Global Holdings LLC                                                    | CUSIP: 17289RAB2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | DBT              | CORP              | US        |   5216000 | PA      | $5483226.58   | 0.17%             | 2035-06-18      | Fixed         | 6.20%                 | 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      | $161956.45    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CSMC Trust                                                    | CSMC Trust, Series 2021-BPNY, Class A                                                     | CUSIP: 12659XAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10473057 | PA      | $9953998.31   | 0.31%             | 2026-08-15      | Floating      | 7.98%                 | 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      | $21.32        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Other                                                                               | CUSIP: 3140QCDT0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    220970 | PA      | $203364.15    | 0.01%             | 2049-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Alpha Generation LLC                                          | Alpha Generation LLC                                                                      | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |   5198000 | PA      | $5369536.39   | 0.17%             | 2032-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: —       |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31374TV48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       504 | PA      | $521.06       | 0.00%             | 2029-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7203000 | PA      | $7285721.99   | 0.23%             | 2034-11-15      | Fixed         | 4.25%                 | 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      | $71482.43     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 3138Y6Y73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    137683 | PA      | $137830.04    | 0.00%             | 2044-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31389L6F1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       473 | PA      | $500.98       | 0.00%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CDJ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  38344000 | PA      | $33196018.53  | 1.03%             | 2031-11-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Planet Fitness Master Issuer LLC                              | Planet Fitness Master Issuer LLC, Series 2024-1A, Class A2I                               | CUSIP: 72703PAF0<br>LEI: 549300NX9W3U2DO53T22 | Long             | ABS-O            | CORP              | US        |   6606270 | PA      | $6742332.74   | 0.21%             | 2054-06-05      | Fixed         | 5.76%                 | Yes           |                  2 | On Loan: No      |
| Fortrea Holdings, Inc.                                        | Fortrea Holdings, Inc.                                                                    | CUSIP: 34965KAA5<br>LEI: 5493000FIVFABOVCDU97 | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1289538.81   | 0.04%             | 2030-07-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: —       |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 3138X0PH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    189231 | PA      | $184323.41    | 0.01%             | 2043-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Synovus Financial Corp.                                       | Synovus Financial Corp.                                                                   | CUSIP: 87161CAP0<br>LEI: 549300EIUS8UN5JTLE54 | Long             | DBT              | CORP              | US        |  10188000 | PA      | $10580233.52  | 0.33%             | 2030-11-01      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Durst Commercial Mortgage Trust                               | Durst Commercial Mortgage Trust, Series 2025-151, Class D                                 | CUSIP: 266895AG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3499000 | PA      | $3603240.81   | 0.11%             | 2042-08-10      | Variable      | 7.02%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, REMIC, Series 2025-31, Class FB                                                     | CUSIP: 3136BVYK8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   9463262 | PA      | $9480031.93   | 0.29%             | 2054-06-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| STAR Trust                                                    | STAR Trust, Series 2025-SFR6, Class C                                                     | CUSIP: 85520EAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1200000 | PA      | $1203794.52   | 0.04%             | 2042-08-17      | Floating      | 6.14%                 | Yes           |                  2 | On Loan: No      |
| Banco Santander SA                                            | Banco Santander SA                                                                        | CUSIP: 05964HAQ8<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |      6000 | PA      | $5992.34      | 0.00%             | 2028-03-24      | Variable      | 4.17%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                      | BX Trust, Series 2025-GW, Class E                                                         | CUSIP: 12433GAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3975000 | PA      | $4001294.63   | 0.12%             | 2042-07-15      | Floating      | 7.80%                 | Yes           |                  2 | On Loan: No      |
| Eaton Vance Ultra-Short Income ETF                            | Eaton Vance Ultra-Short Income ETF                                                        | CUSIP: 61774R700<br>LEI: 254900V7QBF5XYWO0K24 | Long             |  | RF                | US        |     27000 | NS      | $1376055.00   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AIB Group plc                                                 | AIB Group plc                                                                             | CUSIP: 00135TAF1<br>LEI: 635400AKJBGNS5WNQL34 | Long             | DBT              | CORP              | IE        |   9923000 | PA      | $10220208.34  | 0.32%             | 2031-05-15      | Variable      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31371GZ86<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       590 | PA      | $610.46       | 0.00%             | 2028-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 912828ZQ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  54134000 | PA      | $47068032.98  | 1.46%             | 2030-05-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| SoFi Consumer Loan Program Trust                              | SoFi Consumer Loan Program Trust, Series 2025-2, Class C                                  | CUSIP: 83407HAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5169000 | PA      | $5231520.09   | 0.16%             | 2034-06-25      | Fixed         | 5.22%                 | Yes           |                  2 | On Loan: No      |
| ServiceMaster Funding LLC                                     | ServiceMaster Funding LLC, Series 2020-1, Class A2I                                       | CUSIP: 81761TAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  14116296 | PA      | $13317493.34  | 0.41%             | 2051-01-30      | Fixed         | 2.84%                 | Yes           |                  2 | On Loan: No      |
| SG Commercial Mortgage Securities Trust                       | SG Commercial Mortgage Securities Trust, Series 2020-COVE, Class E                        | CUSIP: 78397FAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1900000 | PA      | $1586349.90   | 0.05%             | 2037-03-15      | Variable      | 3.85%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                                        | Oportun Issuance Trust, Series 2025-A, Class B                                            | CUSIP: 68377TAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1515000 | PA      | $1516980.71   | 0.05%             | 2033-02-08      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                                  | BX Commercial Mortgage Trust, Series 2022-CSMO, Class B                                   | CUSIP: 05610MAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5100000 | PA      | $5162680.02   | 0.16%             | 2027-06-15      | Floating      | 7.29%                 | Yes           |                  2 | On Loan: No      |
| CaixaBank SA                                                  | CaixaBank SA                                                                              | CUSIP: 12803RAC8<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   7863000 | PA      | $8765841.69   | 0.27%             | 2034-09-13      | Variable      | 6.84%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                  | GS Mortgage Securities Trust, Series 2015-GC34, Class XA                                  | CUSIP: 36250VAF9<br>LEI: 54930070360RBP384M53 | Long             | ABS-MBS          | CORP              | US        |   1328416 | PA      | $34.14        | 0.00%             | 2048-10-10      | Variable      | 1.13%                 | No            |                  2 | On Loan: No      |
| Foundry JV Holdco LLC                                         | Foundry JV Holdco LLC                                                                     | CUSIP: 350930AH6<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |   7921000 | PA      | $8424830.65   | 0.26%             | 2036-01-25      | Fixed         | 6.10%                 | Yes           |                  2 | On Loan: —       |
| Great Wolf Trust                                              | Great Wolf Trust, Series 2024-WOLF, Class D                                               | CUSIP: 39152MAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3200000 | PA      | $3222625.92   | 0.10%             | 2039-03-15      | Floating      | 7.04%                 | Yes           |                  2 | On Loan: No      |
| Caister Finance DAC                                           | Caister Finance DAC, Series 1A, Class B                                                   | CUSIP: N/A<br>LEI: 635400IBLLJ9RCTGJN46       | Long             | ABS-MBS          | CORP              | IE        |   6495000 | PA      | $8816239.88   | 0.27%             | 2035-08-17      | Floating      | 6.44%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Other                                                                               | CUSIP: 31418DBR2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     16959 | PA      | $15607.56     | 0.00%             | 2049-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Romania                                                       | Romanian Government Bond                                                                  | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |   5657000 | PA      | $5228489.41   | 0.16%             | 2033-04-14      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| SDR Commercial Mortgage Trust                                 | SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A                                  | CUSIP: 811304AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1193000 | PA      | $1191435.74   | 0.04%             | 2039-05-15      | Floating      | 5.54%                 | Yes           |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                             | Rocket Cos., Inc.                                                                         | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3174000 | PA      | $3279897.34   | 0.10%             | 2033-08-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 3140QVDM3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4263146 | PA      | $4304954.03   | 0.13%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31400Y4F0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      9587 | PA      | $10101.52     | 0.00%             | 2033-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fortitude Global Funding                                      | Fortitude Global Funding                                                                  | CUSIP: 34967GAA2<br>LEI: 635400TKBOGEHNO5RT68 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100116.83    | 0.00%             | 2028-10-06      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| FNMA or FHLMC                                                 | UMBS, Single Family, 30 Year                                                              | CUSIP: 01F0526A5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        | 213750908 | PA      | $215562778.26 | 6.71%             | 2055-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HYT Commercial Mortgage Trust                                 | HYT Commercial Mortgage Trust, Series 2024-RGCY, Class B                                  | CUSIP: 449173AC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    289000 | PA      | $289940.75    | 0.01%             | 2041-09-15      | Floating      | 6.49%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31387GW32<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1916 | PA      | $1997.86      | 0.00%             | 2031-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SERVPRO Master Issuer LLC                                     | SERVPRO Master Issuer LLC, Series 2024-1A, Class A2                                       | CUSIP: 817743AJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    620550 | PA      | $642195.03    | 0.02%             | 2054-01-25      | Fixed         | 6.17%                 | Yes           |                  2 | On Loan: No      |
| ACHV ABS Trust                                                | ACHV ABS Trust, Series 2024-3AL, Class D                                                  | CUSIP: 00092KAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1515280 | PA      | $1538447.83   | 0.05%             | 2031-12-26      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                     | Bank of Nova Scotia (The)                                                                 | CUSIP: 0641598V1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   9394000 | PA      | $10096098.17  | 0.31%             | 2084-01-27      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| A/S Mileage Plan IP Ltd.                                      | A/S Mileage Plan IP Ltd.                                                                  | CUSIP: 00218QAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   1154000 | PA      | $1149313.31   | 0.04%             | 2031-10-20      | Fixed         | 5.31%                 | Yes           |                  2 | On Loan: —       |
| Zegona Finance plc                                            | Zegona Finance plc                                                                        | CUSIP: 98927UAA5<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |   6624000 | PA      | $7063369.92   | 0.22%             | 2029-07-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Marex Group plc                                               | Marex Group plc                                                                           | CUSIP: 566539AA0<br>LEI: 549300DWX0SVICJAL507 | Long             | DBT              | CORP              | GB        |   9529000 | PA      | $9830175.38   | 0.31%             | 2029-11-04      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                                 | UMBS, Single Family, 30 Year                                                              | CUSIP: 01F0606B6<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        | -90000000 | PA      | $-91930081.50 | -2.86%            | 2055-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Playtika Holding Corp.                                        | Playtika Holding Corp.                                                                    | CUSIP: 72815LAA5<br>LEI: 254900E35Z4TKA4UFG64 | Long             | DBT              | CORP              | US        |   6896000 | PA      | $6337665.36   | 0.20%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CNN7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7100000 | PA      | $7143820.35   | 0.22%             | 2030-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| STAR Trust                                                    | STAR Trust, Series 2021-SFR1, Class G                                                     | CUSIP: 85521DAN2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    800000 | PA      | $799335.84    | 0.02%             | 2038-04-17      | Floating      | 7.46%                 | Yes           |                  2 | On Loan: No      |
| Biogen, Inc.                                                  | Biogen, Inc.                                                                              | CUSIP: 09062XAM5<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | DBT              | CORP              | US        |   8396000 | PA      | $9008757.12   | 0.28%             | 2055-05-15      | Fixed         | 6.45%                 | 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      | $-75.26       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31387KDB6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12412 | PA      | $12913.59     | 0.00%             | 2031-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31384ACL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        33 | PA      | $33.77        | 0.00%             | 2029-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31382UMR4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       225 | PA      | $232.49       | 0.00%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Bonds                                                                       | CUSIP: 912810RT7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11715000 | PA      | $7819762.50   | 0.24%             | 2046-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| GNMA                                                          | GNMA, Series 2024-197, Class GF                                                           | CUSIP: 38385BAP5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4845932 | PA      | $4852308.77   | 0.15%             | 2054-12-20      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                  | Oracle Corp.                                                                              | CUSIP: 68389XBX2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   3498000 | PA      | $2464215.25   | 0.08%             | 2050-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Gilead Aviation LLC                                           | Gilead Aviation LLC, Series 2025-1A, Class A                                              | CUSIP: 37556TAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4145216 | PA      | $4240433.53   | 0.13%             | 2050-03-15      | Fixed         | 5.79%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31391K2E6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        96 | PA      | $100.44       | 0.00%             | 2033-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Strips, Series 305, Class 9                                                         | CUSIP: 31364JL50<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6373 | PA      | $461.86       | 0.00%             | 2029-12-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31391G3E4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8078 | PA      | $8493.87      | 0.00%             | 2032-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                            | LPL Holdings, Inc.                                                                        | CUSIP: 50212YAF1<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   3127000 | PA      | $3028770.20   | 0.09%             | 2031-05-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| FMC GMSR Issuer Trust                                         | FMC GMSR Issuer Trust, Series 2022-GT2, Class A                                           | CUSIP: 30259RAP0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2675000 | PA      | $2690460.97   | 0.08%             | 2027-07-25      | Fixed         | 7.90%                 | Yes           |                  2 | On Loan: No      |
| Jersey Mike's Funding                                         | Jersey Mike's Funding, Series 2021-1A, Class A2I                                          | CUSIP: 476681AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2468750 | PA      | $2417084.49   | 0.08%             | 2052-02-15      | Fixed         | 2.89%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                           | Rocket Mortgage LLC                                                                       | CUSIP: 74841CAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6332000 | PA      | $5918354.37   | 0.18%             | 2031-03-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| American National Group, Inc.                                 | American National Group, Inc.                                                             | CUSIP: 02772AAA7<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |   3108000 | PA      | $3262778.28   | 0.10%             | 2032-06-13      | Fixed         | 6.14%                 | Yes           |                  2 | On Loan: —       |
| N/A                                                           | U.S. Treasury Ultra Bonds                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -252 | NC      | $21116.60     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UPX HIL Issuer Trust                                          | UPX HIL Issuer Trust, Series 2025-1, Class A                                              | CUSIP: 916925AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10900255 | PA      | $10955443.30  | 0.34%             | 2047-01-25      | Fixed         | 5.16%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC, Multifamily Structured Pass-Through Certificates, Series K1522, Class X3           | CUSIP: 3137H4RJ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4400000 | PA      | $1036129.38   | 0.03%             | 2036-11-25      | Variable      | 3.17%                 | 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      | $12245.80     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Natixis Commercial Mortgage Securities Trust                  | Natixis Commercial Mortgage Securities Trust, Series 2018-ALXA, Class E                   | CUSIP: 63874GAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    800000 | PA      | $682517.12    | 0.02%             | 2043-01-15      | Variable      | 4.46%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31403RFD5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10161 | PA      | $10784.48     | 0.00%             | 2033-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 3140W0VA0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  10735101 | PA      | $10833667.58  | 0.34%             | 2055-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 91282CCS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  32366000 | PA      | $27997854.22  | 0.87%             | 2031-08-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Lunar Aircraft Ltd.                                           | Lunar Aircraft Ltd., Series 2020-1A, Class A                                              | CUSIP: 55037LAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    226140 | PA      | $221828.19    | 0.01%             | 2045-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| BF Mortgage Trust                                             | BF Mortgage Trust, Series 2019-NYT, Class A                                               | CUSIP: 62954PAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4222000 | PA      | $4186472.29   | 0.13%             | 2035-12-15      | Floating      | 5.65%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31380PJE0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       405 | PA      | $418.96       | 0.00%             | 2028-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Ballyrock CLO 15 Ltd.                                         | Ballyrock CLO 15 Ltd., Series 2021-1A, Class D1R                                          | CUSIP: 05875TAS6<br>LEI: 254900DRHPTI08KKW784 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1005983.00   | 0.03%             | 2038-01-15      | Floating      | 7.17%                 | 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      | $22380.43     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Wendy's Funding LLC                                           | Wendy's Funding LLC, Series 2019-1A, Class A2I                                            | CUSIP: 95058XAG3<br>LEI: 5493009DRVSTWJOXUL48 | Long             | ABS-O            | CORP              | US        |   1013843 | PA      | $1008266.50   | 0.03%             | 2049-06-15      | Fixed         | 3.78%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31385HQ88<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       766 | PA      | $792.18       | 0.00%             | 2030-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Bonds                                                                       | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    700000 | PA      | $704539.07    | 0.02%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                          | FREMF Mortgage Trust, Series 2016-KF21, Class B                                           | CUSIP: 30289XAA4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     44850 | PA      | $2533.92      | 0.00%             | 2026-07-25      | Floating      | 9.72%                 | Yes           |                  2 | On Loan: No      |
| ORL Trust                                                     | ORL Trust, Series 2024-GLKS, Class D                                                      | CUSIP: 67120DAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1367000 | PA      | $1372942.08   | 0.04%             | 2039-12-15      | Floating      | 6.94%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31402KY24<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4692 | PA      | $4908.16      | 0.00%             | 2033-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ELFI Graduate Loan Program LLC                                | ELFI Graduate Loan Program LLC, Series 2022-A, Class A                                    | CUSIP: 28628CAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1098512 | PA      | $1084926.51   | 0.03%             | 2047-08-26      | Fixed         | 4.51%                 | Yes           |                  2 | On Loan: No      |
| Boeing Co. (The)                                              | Boeing Co. (The)                                                                          | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   5128000 | PA      | $5126531.60   | 0.16%             | 2050-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| KKR CLO 48 Ltd.                                               | KKR CLO 48 Ltd., Series 48A, Class D1R                                                    | CUSIP: 48256EAW9<br>LEI: 549300GM4MA615ZG7468 | Long             | ABS-CBDO         | CORP              | JE        |   3000000 | PA      | $3011250.00   | 0.09%             | 2038-10-20      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, 30 Year                                                                             | CUSIP: 3140Q8HY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    445646 | PA      | $413550.32    | 0.01%             | 2048-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Global Atlantic Fin Co.                                       | Global Atlantic Fin Co.                                                                   | CUSIP: 37959GAG2<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |   3577000 | PA      | $3790722.17   | 0.12%             | 2054-10-15      | Variable      | 7.95%                 | Yes           |                  2 | On Loan: No      |
| MidOcean Credit CLO XV Ltd.                                   | MidOcean Credit CLO XV Ltd., Series 2024-15A, Class D                                     | CUSIP: 59801FAJ2<br>LEI: 254900R5AXF91DYP1Y16 | Long             | ABS-CBDO         | CORP              | JE        |   2000000 | PA      | $2008850.00   | 0.06%             | 2037-07-21      | Floating      | 7.68%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | FNMA, Other                                                                               | CUSIP: 31418DF31<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    166648 | PA      | $158014.52    | 0.00%             | 2049-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fontainebleau Miami Beach Mortgage Trust                      | Fontainebleau Miami Beach Mortgage Trust, Series 2024-FBLU, Class F                       | CUSIP: 34461WAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4945000 | PA      | $4975253.51   | 0.15%             | 2039-12-15      | Floating      | 8.40%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31384VZB1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       796 | PA      | $823.22       | 0.00%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Cajun Global LLC                                              | Cajun Global LLC, Series 2021-1, Class A2                                                 | CUSIP: 12803VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7925225 | PA      | $7823448.47   | 0.24%             | 2051-11-20      | Fixed         | 3.93%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31390PT49<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3197 | PA      | $3352.19      | 0.00%             | 2032-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero | BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero                             | CUSIP: 07336UAA1<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |   1047000 | PA      | $1162542.73   | 0.04%             | 2038-06-29      | Variable      | 8.45%                 | Yes           |                  2 | On Loan: No      |
| STAR Trust                                                    | STAR Trust, Series 2022-SFR3, Class F                                                     | CUSIP: 78474PAN7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    988230 | PA      | $993966.55    | 0.03%             | 2039-05-17      | Floating      | 8.64%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                      | U.S. Treasury Notes                                                                       | CUSIP: 912828ZN3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  38308000 | PA      | $36477146.91  | 1.13%             | 2027-04-30      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                               | BRAVO Residential Funding Trust, Series 2020-RPL2, Class A1                               | CUSIP: 10569BAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1009264 | PA      | $948287.25    | 0.03%             | 2059-05-25      | Variable      | 2.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31389FF56<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       270 | PA      | $279.12       | 0.00%             | 2032-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31371KDL2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2689 | PA      | $2797.23      | 0.00%             | 2031-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Bear Stearns ARM Trust                                        | Bear Stearns ARM Trust, Series 2003-9, Class 3A3                                          | CUSIP: 07384MC75<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    297409 | PA      | $282308.39    | 0.01%             | 2034-02-25      | Variable      | 5.24%                 | 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      | $3988.46      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Eaton Vance Short Duration Income ETF                         | Eaton Vance Short Duration Income ETF                                                     | CUSIP: 61774R825<br>LEI: 254900H1WCGW58VEGZ62 | Long             |  | RF                | US        |    235000 | NS      | $12080175.00  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Royalty Pharma plc                                            | Royalty Pharma plc                                                                        | CUSIP: 78081BAU7<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |   2917000 | PA      | $2915647.45   | 0.09%             | 2035-09-25      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Oportun Funding Trust                                         | Oportun Funding Trust, Series 2024-3, Class B                                             | CUSIP: 68377NAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1020000 | PA      | $1022994.41   | 0.03%             | 2029-08-15      | Fixed         | 5.48%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31388J3B9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4590 | PA      | $4775.07      | 0.00%             | 2031-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                               | TransDigm, Inc.                                                                           | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   5341000 | PA      | $5505476.10   | 0.17%             | 2032-03-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31371GRS1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1512 | PA      | $1563.63      | 0.00%             | 2028-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BAHA Trust                                                    | BAHA Trust, Series 2024-MAR, Class C                                                      | CUSIP: 05493XAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7590653 | PA      | $7922114.04   | 0.25%             | 2041-12-10      | Variable      | 7.77%                 | Yes           |                  2 | On Loan: No      |
| Nuveen LLC                                                    | Nuveen LLC                                                                                | CUSIP: 67080LAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3378000 | PA      | $3556763.56   | 0.11%             | 2034-04-15      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial, Inc.                                          | Ally Financial, Inc., Series B                                                            | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   2485000 | PA      | $2424099.09   | 0.08%             | 2026-05-15      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| Ally Financial, Inc.                                          | Ally Financial, Inc.                                                                      | CUSIP: 02005NBP4<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    416000 | PA      | $388912.61    | 0.01%             | 2028-11-02      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                         | FHLMC STACR REMIC Trust, Series 2021-DNA7, Class B2                                       | CUSIP: 35564KNE5<br>LEI: 5493000ISOMSKCX2AW62 | Long             | ABS-MBS          | CORP              | US        |   8365000 | PA      | $8883077.91   | 0.28%             | 2041-11-25      | Floating      | 12.16%                | Yes           |                  2 | On Loan: No      |
| HAT Holdings I LLC                                            | HAT Holdings I LLC                                                                        | CUSIP: 418751AD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2093000 | PA      | $1931528.73   | 0.06%             | 2030-09-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31383CT96<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       727 | PA      | $751.56       | 0.00%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31385JQA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        73 | PA      | $75.34        | 0.00%             | 2032-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                          | UMBS, 30 Year                                                                             | CUSIP: 31387VU80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2091 | PA      | $2168.77      | 0.00%             | 2031-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Great Wolf Trust                                              | Great Wolf Trust, Series 2024-WOLF, Class A                                               | CUSIP: 39152MAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1370000 | PA      | $1374176.03   | 0.04%             | 2039-03-15      | Floating      | 5.69%                 | Yes           |                  2 | On Loan: No      |
| Banc of America Alternative Loan Trust                        | Banc of America Alternative Loan Trust, Series 2006-7, Class A6                           | CUSIP: 059469AF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    369807 | PA      | $104344.48    | 0.00%             | 2036-10-25      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| GNMA                                                          | GNMA I, 30 Year                                                                           | CUSIP: 3622A2VP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    121705 | PA      | $126629.87    | 0.00%             | 2040-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ACHV ABS Trust                                                | ACHV ABS Trust, Series 2024-3AL, Class B                                                  | CUSIP: 00092KAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1238839 | PA      | $1251314.18   | 0.04%             | 2031-12-26      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Morgan Stanley ETF Trust

**Signature:** Francis J. Smith

**Name of Signer:** Francis J. Smith

**Title:** Principal Financial Officer