# EDGAR Filing Document

**Accession Number:** 0000916620
**File Stem:** 0002066578-26-001904
**Filing Date:** 2026-5
**Character Count:** 116790
**Document Hash:** ca5ead677509f79310cfcb1fdc272623
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-26-001904.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0002066578-26-001904

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN FUNDS
- **CENTRAL INDEX KEY:** 0000916620

**ORGANIZATION NAME:**
- **EIN:** 391777365
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08236
- **FILM NUMBER:** 261034950

**BUSINESS ADDRESS:**
- **STREET 1:** NORTHERN FUNDS
- **STREET 2:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603
- **BUSINESS PHONE:** 800-595-9111

**MAIL ADDRESS:**
- **STREET 1:** NORTHERN FUNDS
- **STREET 2:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603

## Series and Classes Contracts Data

### FIXED INCOME FUND (Series ID: S000001252)

| Class ID   | Class Name        | Ticker Symbol   |
|:---|:---|:---|
| C000003398 | FIXED INCOME FUND | NOFIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Northern Funds

- **b. Investment Company Act file number:** 811-08236

- **c. CIK number of Registrant:** 0000916620

- **d. LEI of Registrant:** 5493004ZY1PEJR3C0A81

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

  - **Street Address 1:** 50 South LaSalle Street

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60603

  - **Telephone number:** 800-595-9111

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

- **a. Name of Series:** Fixed Income Fund

- **b. EDGAR series identifier (if any):** S000001252

- **c. LEI of Series:** 549300PNPEUFG2UTM655

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $284339807.59

**Total Liabilities:** $1045414.19

**Net Assets:** $283294393.40

**Delayed Delivery Securities:** $700000.00

**Cash Not Reported:** $43.25

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 187.802004705970 | **1-Year:** 10045.684822643787 | **5-Year:** 32376.255871230925 | **10-Year:** 31009.963023104018 | **30-Year:** 10026.491037002234

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

- **3-Month:** 743350.677653816179 | **1-Year:** 1334.202028009762 | **5-Year:** 3063.600610760754 | **10-Year:** 1054.020151790859 | **30-Year:** 666.166574305089

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000003398 | 0.26%                | 1.46%                | -1.71%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $118954.13               | $-437953.13                                |
| Month 2  | $365920.52               | $2361179.09                                |
| Month 3  | $249291.51               | $-5906372.48                               |

**Designated Index Information**

- **Index Name:** BBG US Aggregate

- **Index Identifier:** LEH_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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FASHION SHOW MALL LLC VAR | FASHION SHOW MALL LLC VAR | CUSIP: 50245XAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    580000 | PA      | $588919.82    | 0.21%             | 2041-10-10      | Variable      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| MSRW 2025-CC PAS 5.89372% | MSRW 2025-CC PAS 5.89372% | CUSIP: 55361BAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1970595 | PA      | $1950387.59   | 0.69%             | 2030-08-15      | Fixed         | 5.89%                 | Yes           |                  2 | On Loan: No      |
| BLOCK INC 6.00%           | BLOCK INC 6.00%           | CUSIP: 852234AU7<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    900000 | PA      | $885135.17    | 0.31%             | 2033-08-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| BEIGNET INVSTR. LL 6.581% | BEIGNET INVSTR. LL 6.581% | CUSIP: 076912AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $616893.69    | 0.22%             | 2049-05-30      | Fixed         | 6.58%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER MTGE. ASS 5.76% | SANTANDER MTGE. ASS 5.76% | CUSIP: 80263BAE9<br>LEI: 254900P9WEZD48ETI035 | Long             | ABS-O            | CORP              | US        |   1834539 | PA      | $1835636.98   | 0.65%             | 2065-07-25      | Variable      | 5.76%                 | Yes           |                  2 | On Loan: No      |
| PUBLIC SERV. CO OF 5.15%  | PUBLIC SERV. CO OF 5.15%  | CUSIP: 744448DC2<br>LEI: 5BANEF6PGSEK0SNMQF44 | Long             | DBT              | CORP              | US        |    415000 | PA      | $413633.84    | 0.15%             | 2035-09-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| CARLISLE COS INC 5.55%    | CARLISLE COS INC 5.55%    | CUSIP: 142339AM2<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | DBT              | CORP              | US        |    284000 | PA      | $281480.94    | 0.10%             | 2040-09-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| BLOCK INC 5.625%          | BLOCK INC 5.625%          | CUSIP: 852234AT0<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    455000 | PA      | $452485.72    | 0.16%             | 2030-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| MAD COMMER. MTGE. TST VAR | MAD COMMER. MTGE. TST VAR | CUSIP: 55616AAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    460000 | PA      | $462792.52    | 0.16%             | 2042-10-15      | Variable      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| CVS HEALTH CORP 5.45%     | CVS HEALTH CORP 5.45%     | CUSIP: 126650EK2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    675000 | PA      | $677624.72    | 0.24%             | 2035-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GRP. OF 4.85%  | VOLKSWAGEN GRP. OF 4.85%  | CUSIP: 928668CX8<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    430000 | PA      | $426067.74    | 0.15%             | 2030-09-11      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT TST 5.688% | PAGAYA AI DEBT TST 5.688% | CUSIP: 69547DAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    899968 | PA      | $903823.47    | 0.32%             | 2033-01-17      | Fixed         | 5.69%                 | Yes           |                  2 | On Loan: No      |
| ORACLE CORP 4.45%         | ORACLE CORP 4.45%         | CUSIP: 68389XDH5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1430000 | PA      | $1378064.37   | 0.49%             | 2030-09-26      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GRP. HLD F2F | SANTANDER UK GRP. HLD F2F | CUSIP: 80281LAX3<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |    800000 | PA      | $792496.22    | 0.28%             | 2029-09-22      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| PK ALIFT LOAN FNDG. 4.79% | PK ALIFT LOAN FNDG. 4.79% | CUSIP: 72585CAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $986897.90    | 0.35%             | 2043-09-15      | Fixed         | 4.79%                 | Yes           |                  2 | On Loan: No      |
| AVOLON HLDGS. FNDG. 4.85% | AVOLON HLDGS. FNDG. 4.85% | CUSIP: 05401ABF7<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    790000 | PA      | $756792.55    | 0.27%             | 2033-04-01      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER DRIVE AUT 4.75% | SANTANDER DRIVE AUT 4.75% | CUSIP: 80288FAF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2730000 | PA      | $2689319.45   | 0.95%             | 2032-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MSRW 2025-CC PAS 6.65052% | MSRW 2025-CC PAS 6.65052% | CUSIP: 55361BAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    940000 | PA      | $929196.58    | 0.33%             | 2030-08-15      | Fixed         | 6.65%                 | Yes           |                  2 | On Loan: No      |
| BLOCK FINL. LLC 5.375%    | BLOCK FINL. LLC 5.375%    | CUSIP: 093662AK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1237384.52   | 0.44%             | 2032-09-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NOMURA HLDGS. INC F2V     | NOMURA HLDGS. INC F2V     | CUSIP: 65535HCE7<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |   1550000 | PA      | $1503582.80   | 0.53%             | 2036-06-10      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| SANTANDER MTGE. AS 5.369% | SANTANDER MTGE. AS 5.369% | CUSIP: 802650AL5<br>LEI: 254900WEZWXJLYHMU869 | Long             | ABS-O            | CORP              | US        |   1650000 | PA      | $1635594.02   | 0.58%             | 2055-09-25      | Variable      | 5.37%                 | Yes           |                  2 | On Loan: No      |
| HCA INC 4.90%             | HCA INC 4.90%             | CUSIP: 404119DF3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    255000 | PA      | $246536.53    | 0.09%             | 2035-11-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| RESEARCH-DRIVEN PAG 6.52% | RESEARCH-DRIVEN PAG 6.52% | CUSIP: 76100KAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2026000 | PA      | $2005086.41   | 0.71%             | 2035-01-25      | None          | 6.52%                 | Yes           |                  2 | On Loan: No      |
| SALESFORCE INC 4.90%      | SALESFORCE INC 4.90%      | CUSIP: 79466LAS3<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |   2450000 | PA      | $2446530.07   | 0.86%             | 2031-09-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| SOTHEBY S ARTFI MAS 4.90% | SOTHEBY S ARTFI MAS 4.90% | CUSIP: 83589DAC0<br>LEI: 549300P5BAAMQQ7VL735 | Long             | ABS-O            | CORP              | US        |    639000 | PA      | $637581.42    | 0.23%             | 2033-06-20      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: No      |
| FAIR ISAAC CORP 6.25%     | FAIR ISAAC CORP 6.25%     | CUSIP: 303250AJ3<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |   1615000 | PA      | $1588405.15   | 0.56%             | 2034-09-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 4.00%     | FANNIE MAE POOL 4.00%     | CUSIP: 3140J55X3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    133171 | PA      | $128212.54    | 0.05%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.00%     | FANNIE MAE POOL 3.00%     | CUSIP: 3140X4XA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    506929 | PA      | $456739.41    | 0.16%             | 2048-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL. 1.75% | PHILIP MORRIS INTL. 1.75% | CUSIP: 718172CS6<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    175000 | PA      | $154959.36    | 0.05%             | 2030-11-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.00%     | FANNIE MAE POOL 3.00%     | CUSIP: 3140QEDX7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    675589 | PA      | $603697.59    | 0.21%             | 2050-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 5.50%  | FREDDIE MAC REMICS 5.50%  | CUSIP: 3137HBTY0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    440200 | PA      | $445093.57    | 0.16%             | 2051-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.50%     | FANNIE MAE POOL 3.50%     | CUSIP: 3138EQKK7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    751242 | PA      | $714807.22    | 0.25%             | 2040-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC GOLD PO 4.50% | FREDDIE MAC GOLD PO 4.50% | CUSIP: 312934WB4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    129563 | PA      | $127760.81    | 0.05%             | 2039-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.50%     | FANNIE MAE POOL 3.50%     | CUSIP: 3140X77D5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    716156 | PA      | $695585.30    | 0.25%             | 2036-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 7.00%     | FANNIE MAE POOL 7.00%     | CUSIP: 3140XNT38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    192387 | PA      | $202025.64    | 0.07%             | 2040-01-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY CARD FNDG 5.04% | SYNCHRONY CARD FNDG 5.04% | CUSIP: 87166PAM3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    301000 | PA      | $303633.42    | 0.11%             | 2030-03-15      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 8.00%     | FANNIE MAE POOL 8.00%     | CUSIP: 31385HNU2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       258 | PA      | $263.26       | 0.00%             | 2031-05-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 7.00%     | FANNIE MAE POOL 7.00%     | CUSIP: 31387JSE7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |         3 | PA      | $2.89         | 0.00%             | 2031-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 7.00%     | FANNIE MAE POOL 7.00%     | CUSIP: 31385JBZ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5285 | PA      | $5550.29      | 0.00%             | 2032-04-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATL. MT 2.50% | GOVERNMENT NATL. MT 2.50% | CUSIP: 38380FMH6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    602995 | PA      | $562884.79    | 0.20%             | 2046-08-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MTGE. TST. 20 VAR | SEQUOIA MTGE. TST. 20 VAR | CUSIP: 81749BAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    539838 | PA      | $528535.46    | 0.19%             | 2053-01-25      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FREDDIE MAC POOL 4.50%    | FREDDIE MAC POOL 4.50%    | CUSIP: 3132DNVK6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1023941 | PA      | $996650.50    | 0.35%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HYUNDAI AUTO LEASE 5.41%  | HYUNDAI AUTO LEASE 5.41%  | CUSIP: 44934FAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    339444 | PA      | $340220.17    | 0.12%             | 2027-05-17      | Fixed         | 5.41%                 | Yes           |                  2 | On Loan: No      |
| TARGA RES. CORP 4.95%     | TARGA RES. CORP 4.95%     | CUSIP: 87612GAB7<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    800000 | PA      | $668796.62    | 0.24%             | 2052-04-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN MTGE. TST VAR | J.P. MORGAN MTGE. TST VAR | CUSIP: 46655NAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1091405 | PA      | $948951.87    | 0.33%             | 2052-12-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| BARCLAYS PLC F2V          | BARCLAYS PLC F2V          | CUSIP: 06738EBY0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $202287.41    | 0.07%             | 2028-08-09      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL 4.00%  | GINNIE MAE II POOL 4.00%  | CUSIP: 36179XHX7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    995447 | PA      | $943001.36    | 0.33%             | 2052-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 6.00%    | FREDDIE MAC POOL 6.00%    | CUSIP: 3132DSV58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    642462 | PA      | $664467.69    | 0.23%             | 2054-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 3.00%    | FREDDIE MAC POOL 3.00%    | CUSIP: 3132CWLH5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    612856 | PA      | $595875.14    | 0.21%             | 2034-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GENERAL DYNAMICS CO 2.25% | GENERAL DYNAMICS CO 2.25% | CUSIP: 369550BP2<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | DBT              | CORP              | US        |    390000 | PA      | $351051.87    | 0.12%             | 2031-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| VMWARE LLC 1.80%          | VMWARE LLC 1.80%          | CUSIP: 928563AK1<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    135000 | PA      | $127116.96    | 0.04%             | 2028-08-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 0.00%  | FREDDIE MAC REMICS 0.00%  | CUSIP: 3137ASD35<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    823232 | PA      | $629070.68    | 0.22%             | 2041-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 6.00%     | FANNIE MAE POOL 6.00%     | CUSIP: 3140NM6E2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    241085 | PA      | $245873.49    | 0.09%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.50%     | FANNIE MAE POOL 5.50%     | CUSIP: 31418EUY4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    521155 | PA      | $533235.17    | 0.19%             | 2043-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUT 5.06% | SANTANDER DRIVE AUT 5.06% | CUSIP: 80287NAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1805000 | PA      | $1820600.62   | 0.64%             | 2031-05-15      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| MELLO MTGE. CAP. ACCE VAR | MELLO MTGE. CAP. ACCE VAR | CUSIP: 585494AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1048780 | PA      | $872494.72    | 0.31%             | 2051-06-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 4.50%     | FANNIE MAE POOL 4.50%     | CUSIP: 3140XJMM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    933488 | PA      | $908595.84    | 0.32%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ARES CAP. CORP 5.95%      | ARES CAP. CORP 5.95%      | CUSIP: 04010LBG7<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    410000 | PA      | $412023.32    | 0.15%             | 2029-07-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| TEVA PHARM. FIN. NE 6.00% | TEVA PHARM. FIN. NE 6.00% | CUSIP: 88167AAT8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    770000 | PA      | $790281.80    | 0.28%             | 2032-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WESTLAKE AUTOMOBILE 4.86% | WESTLAKE AUTOMOBILE 4.86% | CUSIP: 96043LAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $302228.46    | 0.11%             | 2030-05-15      | Fixed         | 4.86%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 7.00%     | FANNIE MAE POOL 7.00%     | CUSIP: 31385WXS3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     50488 | PA      | $53017.81     | 0.02%             | 2032-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA F2F        | BNP PARIBAS SA F2F        | CUSIP: 09659W2R4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    430000 | PA      | $405084.54    | 0.14%             | 2029-09-15      | Fixed         | 2.16%                 | Yes           |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO F2F   | JPMORGAN CHASE & CO F2F   | CUSIP: 46647PEG7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2061332.00   | 0.73%             | 2030-04-22      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUT 5.47% | SANTANDER DRIVE AUT 5.47% | CUSIP: 80287NAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1830000 | PA      | $1850953.13   | 0.65%             | 2031-05-15      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE 5.25%  | BLACKSTONE PRIVATE 5.25%  | CUSIP: 09261HBS5<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    350000 | PA      | $333519.24    | 0.12%             | 2030-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WESTLAKE AUTOMOBILE 5.15% | WESTLAKE AUTOMOBILE 5.15% | CUSIP: 96043LAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    800000 | PA      | $808939.68    | 0.29%             | 2030-11-15      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| J.G. WENTWORTH XLI 3.74%  | J.G. WENTWORTH XLI 3.74%  | CUSIP: 46651TAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2497021 | PA      | $2250045.96   | 0.79%             | 2072-10-17      | Fixed         | 3.74%                 | Yes           |                  2 | On Loan: No      |
| BANK 2021-BNK37 VAR       | BANK 2021-BNK37 VAR       | CUSIP: 06540LBF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    898000 | PA      | $799057.10    | 0.28%             | 2064-11-15      | Variable      | 2.62%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 2.50%     | FANNIE MAE POOL 2.50%     | CUSIP: 3140QEB50<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    922170 | PA      | $793457.31    | 0.28%             | 2050-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| TOWD POINT MTGE. TS 3.75% | TOWD POINT MTGE. TS 3.75% | CUSIP: 89180YAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    304906 | PA      | $290166.52    | 0.10%             | 2062-09-25      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| TASEKO MINES LTD 8.25%    | TASEKO MINES LTD 8.25%    | CUSIP: 876511AG1<br>LEI: 549300XKUO1JSLU7KX54 | Long             | DBT              | CORP              | CA        |    935000 | PA      | $974793.60    | 0.34%             | 2030-05-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 2.50%     | FANNIE MAE POOL 2.50%     | CUSIP: 3140XCDV7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    894966 | PA      | $767895.91    | 0.27%             | 2051-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT C 4.95% | FORD MOTOR CREDIT C 4.95% | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    312600 | PA      | $312505.85    | 0.11%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TOWD POINT MORTGAGE T VAR | TOWD POINT MORTGAGE T VAR | CUSIP: 89170VAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1646566 | PA      | $1560318.70   | 0.55%             | 2062-07-25      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| FREDDIE MAC POOL 6.00%    | FREDDIE MAC POOL 6.00%    | CUSIP: 3132DQRJ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    610332 | PA      | $631012.85    | 0.22%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TSY. 4.625% | UNITED STATES TSY. 4.625% | CUSIP: 912810UQ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2849000 | PA      | $2747949.53   | 0.97%             | 2045-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC GOLD PO 4.50% | FREDDIE MAC GOLD PO 4.50% | CUSIP: 3132VQCD6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    179921 | PA      | $176641.50    | 0.06%             | 2049-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PATTERN ENERGY OPER 4.50% | PATTERN ENERGY OPER 4.50% | CUSIP: 70339PAA7<br>LEI: 254900P898KPCM50SP51 | Long             | DBT              | CORP              | US        |    230000 | PA      | $224584.49    | 0.08%             | 2028-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| SANDS CHINA LTD STP       | SANDS CHINA LTD STP       | CUSIP: 80007RAQ8<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |       100 | PA      | $94.17        | 0.00%             | 2029-03-08      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.50%     | FANNIE MAE POOL 5.50%     | CUSIP: 3140QQVF9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    254737 | PA      | $257306.09    | 0.09%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EXETER AUTOMOBILE R 5.89% | EXETER AUTOMOBILE R 5.89% | CUSIP: 30168JAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    590000 | PA      | $598067.60    | 0.21%             | 2031-07-15      | Fixed         | 5.89%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC GOLD PO 5.00% | FREDDIE MAC GOLD PO 5.00% | CUSIP: 3128M9FH0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    195397 | PA      | $197719.81    | 0.07%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.00%     | FANNIE MAE POOL 3.00%     | CUSIP: 3138ET2J4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    240236 | PA      | $219862.04    | 0.08%             | 2044-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.00%     | FANNIE MAE POOL 5.00%     | CUSIP: 3140JAUJ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     91529 | PA      | $91902.45     | 0.03%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP 3.875%       | NOVELIS CORP 3.875%       | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1224643.06   | 0.43%             | 2031-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| FREDDIE MAC POOL 2.00%    | FREDDIE MAC POOL 2.00%    | CUSIP: 3132D6NT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1514357 | PA      | $1397104.62   | 0.49%             | 2035-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.00%     | FANNIE MAE POOL 3.00%     | CUSIP: 3140XTAN1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    778389 | PA      | $696997.72    | 0.25%             | 2051-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE VAR  | J.P. MORGAN MORTGAGE VAR  | CUSIP: 465978AH7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    710574 | PA      | $695696.94    | 0.25%             | 2053-06-25      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| LPL HLDGS. INC 5.75%      | LPL HLDGS. INC 5.75%      | CUSIP: 50212YAQ7<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    495000 | PA      | $493041.12    | 0.17%             | 2035-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HARLEY-DAVIDSON MOT 5.37% | HARLEY-DAVIDSON MOT 5.37% | CUSIP: 412922AC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    287419 | PA      | $290163.61    | 0.10%             | 2029-03-15      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.00%     | FANNIE MAE POOL 3.00%     | CUSIP: 3140X4S49<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    273149 | PA      | $261041.98    | 0.09%             | 2038-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| OBX 2024-NQM2 TRUS 5.878% | OBX 2024-NQM2 TRUS 5.878% | CUSIP: 67118HAA8<br>LEI: 254900OHTVKDKZL33I54 | Long             | ABS-O            | CORP              | US        |    483535 | PA      | $485150.20    | 0.17%             | 2063-12-25      | Variable      | 5.88%                 | Yes           |                  2 | On Loan: No      |
| CRESCENT ENERGY FI 7.625% | CRESCENT ENERGY FI 7.625% | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    300000 | PA      | $304448.70    | 0.11%             | 2032-04-01      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP. 8.25% | CLOUD SOFTWARE GRP. 8.25% | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    860000 | PA      | $815654.02    | 0.29%             | 2032-06-30      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.50%     | FANNIE MAE POOL 5.50%     | CUSIP: 31410KLW2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    306731 | PA      | $312835.95    | 0.11%             | 2037-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 4.00%     | FANNIE MAE POOL 4.00%     | CUSIP: 3138EMVM0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    474838 | PA      | $468211.15    | 0.17%             | 2034-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL 5.00%  | GINNIE MAE II POOL 5.00%  | CUSIP: 36179VT34<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    307694 | PA      | $312126.38    | 0.11%             | 2050-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL 5.00%  | GINNIE MAE II POOL 5.00%  | CUSIP: 36179SCB1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    414238 | PA      | $420593.89    | 0.15%             | 2046-05-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.00%     | FANNIE MAE POOL 5.00%     | CUSIP: 31418NA34<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     37632 | PA      | $38032.54     | 0.01%             | 2040-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 4.00%     | FANNIE MAE POOL 4.00%     | CUSIP: 3140X56H1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    270192 | PA      | $259715.24    | 0.09%             | 2048-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HUBBELL INC 2.30%         | HUBBELL INC 2.30%         | CUSIP: 443510AK8<br>LEI: 54930088VDQ6840Y6597 | Long             | DBT              | CORP              | US        |    335000 | PA      | $303756.08    | 0.11%             | 2031-03-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE OWNER TS 4.96% | JOHN DEERE OWNER TS 4.96% | CUSIP: 47800RAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    448622 | PA      | $451238.83    | 0.16%             | 2028-11-15      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE-ACES VAR       | FANNIE MAE-ACES VAR       | CUSIP: 3136AC7M7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2358631 | PA      | $2292684.95   | 0.81%             | 2043-02-25      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| ROLLS-ROYCE PLC 5.75%     | ROLLS-ROYCE PLC 5.75%     | CUSIP: 77578JAC2<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |    375000 | PA      | $380878.37    | 0.13%             | 2027-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.00%     | FANNIE MAE POOL 3.00%     | CUSIP: 31418DUL4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    281018 | PA      | $269835.94    | 0.10%             | 2035-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.00%     | FANNIE MAE POOL 3.00%     | CUSIP: 31417BYF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1128732 | PA      | $1096194.69   | 0.39%             | 2032-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KBC GRP. NV F2V           | KBC GRP. NV F2V           | CUSIP: 48241FAB0<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | DBT              | CORP              | BE        |    620000 | PA      | $633610.62    | 0.22%             | 2029-01-19      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| FIVE 2023-V1 MTGE. TR VAR | FIVE 2023-V1 MTGE. TR VAR | CUSIP: 337964AC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1140000 | PA      | $1158699.19   | 0.41%             | 2056-02-10      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| DRIVE AUTO RECEIVAB 5.31% | DRIVE AUTO RECEIVAB 5.31% | CUSIP: 26208WAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    640502 | PA      | $642388.82    | 0.23%             | 2029-01-16      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.50%     | FANNIE MAE POOL 5.50%     | CUSIP: 31416CGK6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    304727 | PA      | $310768.12    | 0.11%             | 2035-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FIN. CORP 5.375%  | ONEMAIN FIN. CORP 5.375%  | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    825000 | PA      | $795558.23    | 0.28%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.00%     | FANNIE MAE POOL 5.00%     | CUSIP: 3140XKB82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    951167 | PA      | $947254.25    | 0.33%             | 2053-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANGEL OAK MTGE. TST 4.75% | ANGEL OAK MTGE. TST 4.75% | CUSIP: 03465WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    814645 | PA      | $812239.01    | 0.29%             | 2067-09-26      | Variable      | 4.75%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.50%     | FANNIE MAE POOL 5.50%     | CUSIP: 3140XKP79<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    898183 | PA      | $907251.73    | 0.32%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 5.50%    | FREDDIE MAC POOL 5.50%    | CUSIP: 3132DP5B0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1055004 | PA      | $1068923.39   | 0.38%             | 2053-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NIPPON LIFE INS. C 5.046% | NIPPON LIFE INS. C 5.046% | CUSIP: 654579AR2<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |    700000 | PA      | $700858.27    | 0.25%             | 2033-04-02      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| FREDDIE MAC POOL 3.00%    | FREDDIE MAC POOL 3.00%    | CUSIP: 3132CWCV4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    498061 | PA      | $489315.18    | 0.17%             | 2032-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 5.50%    | FREDDIE MAC POOL 5.50%    | CUSIP: 3132DPXE3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1094456 | PA      | $1113940.12   | 0.39%             | 2053-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 4.50%     | FANNIE MAE POOL 4.50%     | CUSIP: 3140XKW55<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    762726 | PA      | $764211.70    | 0.27%             | 2038-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 7.00%     | FANNIE MAE POOL 7.00%     | CUSIP: 31387EKT3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8604 | PA      | $9035.47      | 0.00%             | 2031-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.50%     | FANNIE MAE POOL 3.50%     | CUSIP: 31417GTC0<br>LEI: 2549001DPIFGXC1TOL40 | Long             | ABS-MBS          | USGSE             | US        |     14610 | PA      | $14482.52     | 0.01%             | 2028-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL 5.50%  | GINNIE MAE II POOL 5.50%  | CUSIP: 36179SNZ6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     59512 | PA      | $61413.17     | 0.02%             | 2046-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL 4.50%  | GINNIE MAE II POOL 4.50%  | CUSIP: 36179XVR4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1015732 | PA      | $987805.62    | 0.35%             | 2053-03-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA POOL #FS4040 5.0% DU | FNMA POOL #FS4040 5.0% DU | CUSIP: 3140XKP20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    927198 | PA      | $921251.59    | 0.33%             | 2053-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & CO F2F      | WELLS FARGO & CO F2F      | CUSIP: 95000U2S1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    810000 | PA      | $790605.38    | 0.28%             | 2028-06-02      | Fixed         | 2.39%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.00%     | FANNIE MAE POOL 5.00%     | CUSIP: 3140N9N44<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    954978 | PA      | $952732.44    | 0.34%             | 2053-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 3.00%    | FREDDIE MAC POOL 3.00%    | CUSIP: 3133LPSP3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    168771 | PA      | $165743.23    | 0.06%             | 2030-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 5.00%    | FREDDIE MAC POOL 5.00%    | CUSIP: 3133BRD68<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1023723 | PA      | $1014416.05   | 0.36%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 5.50%    | FREDDIE MAC POOL 5.50%    | CUSIP: 3133KQ2M7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    868338 | PA      | $881387.01    | 0.31%             | 2053-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & CO F2F      | WELLS FARGO & CO F2F      | CUSIP: 95000U3J0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1015675.15   | 0.36%             | 2030-01-23      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 6.00%    | FREDDIE MAC POOL 6.00%    | CUSIP: 3132DP6A1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    110900 | PA      | $114566.78    | 0.04%             | 2053-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 6.00%     | FANNIE MAE POOL 6.00%     | CUSIP: 3140XMBK1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    799412 | PA      | $828338.20    | 0.29%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 5.50%    | FREDDIE MAC POOL 5.50%    | CUSIP: 3132E0XN7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    722042 | PA      | $732892.79    | 0.26%             | 2053-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CNH EQUIP. TST. 202 4.77% | CNH EQUIP. TST. 202 4.77% | CUSIP: 18978FAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    265040 | PA      | $266811.09    | 0.09%             | 2029-06-15      | Fixed         | 4.77%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 5.50%    | FREDDIE MAC POOL 5.50%    | CUSIP: 3132DPTC2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    876260 | PA      | $894944.35    | 0.32%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 6.00%     | FANNIE MAE POOL 6.00%     | CUSIP: 3140XMTX4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    118234 | PA      | $122366.52    | 0.04%             | 2053-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 5.00%    | FREDDIE MAC POOL 5.00%    | CUSIP: 3133KPQ68<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    938123 | PA      | $937067.11    | 0.33%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEASONED LOANS STRU 2.75% | SEASONED LOANS STRU 2.75% | CUSIP: 35564CCZ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    809728 | PA      | $776017.44    | 0.27%             | 2029-09-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TSY. 4.25%  | UNITED STATES TSY. 4.25%  | CUSIP: 91282CMG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     50000 | PA      | $50632.81     | 0.02%             | 2030-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TSY. 0.00%  | UNITED STATES TSY. 0.00%  | CUSIP: 912803FV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  29423200 | PA      | $8368018.10   | 2.95%             | 2051-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INC 7.95% | BLUE OWL CREDIT INC 7.95% | CUSIP: 69120VBB6<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1331751.66   | 0.47%             | 2028-06-13      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP F2V        | AIR LEASE CORP F2V        | CUSIP: 00912XBQ6<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    800000 | PA      | $770517.44    | 0.27%             | 2049-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TSY. 4.25%  | UNITED STATES TSY. 4.25%  | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    105000 | PA      | $104721.09    | 0.04%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TSY. 3.875% | UNITED STATES TSY. 3.875% | CUSIP: 91282CNK3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7760000 | PA      | $7748178.11   | 2.74%             | 2030-06-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 3.50%    | FREDDIE MAC POOL 3.50%    | CUSIP: 3131XYGX1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1180197 | PA      | $1100635.27   | 0.39%             | 2047-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMER 5.309% | WELLS FARGO COMMER 5.309% | CUSIP: 94990FAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3960000 | PA      | $4042029.82   | 1.43%             | 2057-08-15      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| CNH EQUIP. TST. 202 4.03% | CNH EQUIP. TST. 202 4.03% | CUSIP: 18978GAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $998274.80    | 0.35%             | 2030-01-15      | Fixed         | 4.03%                 | No            |                  2 | On Loan: No      |
| TESLA AUTO LEASE TS 5.11% | TESLA AUTO LEASE TS 5.11% | CUSIP: 881934AF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1600000 | PA      | $1607852.64   | 0.57%             | 2028-08-21      | Fixed         | 5.11%                 | Yes           |                  2 | On Loan: No      |
| 321 HENDERSON RECEI 6.15% | 321 HENDERSON RECEI 6.15% | CUSIP: 88576NAP3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    895313 | PA      | $920088.89    | 0.32%             | 2048-10-15      | Fixed         | 6.15%                 | Yes           |                  2 | On Loan: No      |
| ANGEL OAK MTGE. TS 6.197% | ANGEL OAK MTGE. TS 6.197% | CUSIP: 034943AA8<br>LEI: 25490046TFINGL6XED11 | Long             | ABS-O            | CORP              | US        |   1571148 | PA      | $1582481.17   | 0.56%             | 2069-01-25      | Variable      | 6.20%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.00%     | FANNIE MAE POOL 3.00%     | CUSIP: 3140X4NV4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    800337 | PA      | $724236.27    | 0.26%             | 2048-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 4.00%     | FANNIE MAE POOL 4.00%     | CUSIP: 31418CKS2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    245877 | PA      | $241193.07    | 0.09%             | 2037-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.50%     | FANNIE MAE POOL 3.50%     | CUSIP: 3140QN3Z3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    758166 | PA      | $698711.95    | 0.25%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GBL. LNG IN 7.00% | VENTURE GBL. LNG IN 7.00% | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    850000 | PA      | $867895.05    | 0.31%             | 2030-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.50%     | FANNIE MAE POOL 5.50%     | CUSIP: 3140QQL29<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    407109 | PA      | $411608.51    | 0.15%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FORD CREDIT AUTO OW 4.96% | FORD CREDIT AUTO OW 4.96% | CUSIP: 34531QAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    510000 | PA      | $516779.33    | 0.18%             | 2030-05-15      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS FI 5.875% | IMPERIAL BRANDS FI 5.875% | CUSIP: 45262BAH6<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |    145000 | PA      | $149137.02    | 0.05%             | 2034-07-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL F2F   | SYNCHRONY FINANCIAL F2F   | CUSIP: 87165BAV5<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    450000 | PA      | $457220.17    | 0.16%             | 2030-08-02      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAWAY 1.65%  | BERKSHIRE HATHAWAY 1.65%  | CUSIP: 084659BD2<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |    195000 | PA      | $169136.46    | 0.06%             | 2031-05-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| AMERISOURCEBERGEN C 2.70% | AMERISOURCEBERGEN C 2.70% | CUSIP: 03073EAT2<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |    365000 | PA      | $332856.43    | 0.12%             | 2031-03-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| ZEBRA TECHS. CORP 6.50%   | ZEBRA TECHS. CORP 6.50%   | CUSIP: 989207AD7<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1384372.00   | 0.49%             | 2032-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| OBX 2023-NQM7 TRUS 7.299% | OBX 2023-NQM7 TRUS 7.299% | CUSIP: 67117XAC0<br>LEI: 254900K7TTKPUWNMSZ83 | Long             | ABS-O            | CORP              | US        |    209691 | PA      | $210726.45    | 0.07%             | 2063-04-25      | Variable      | 7.30%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER NQM1 M1A VAR    | SANTANDER NQM1 M1A VAR    | CUSIP: 80262BAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1676000 | PA      | $1682575.28   | 0.59%             | 2065-01-25      | Variable      | 6.42%                 | Yes           |                  2 | On Loan: No      |
| UNITED STATES TSY. 4.625% | UNITED STATES TSY. 4.625% | CUSIP: 912810UP1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3805000 | PA      | $3635558.59   | 1.28%             | 2055-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.50%     | FANNIE MAE POOL 3.50%     | CUSIP: 3138EEQK8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     54277 | PA      | $53215.84     | 0.02%             | 2032-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| OBX 2024-NQM9 TRUST 6.03% | OBX 2024-NQM9 TRUST 6.03% | CUSIP: 67119DAA6<br>LEI: 2549004KB8X0K1PPTU08 | Long             | ABS-O            | CORP              | US        |    666536 | PA      | $671379.24    | 0.24%             | 2064-01-25      | Variable      | 6.03%                 | Yes           |                  2 | On Loan: No      |
| COMM 2024-277P MTGE. VAR  | COMM 2024-277P MTGE. VAR  | CUSIP: 12654FAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2900000 | PA      | $3070087.90   | 1.08%             | 2044-08-10      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| JOHN DEERE OWNER TS 4.06% | JOHN DEERE OWNER TS 4.06% | CUSIP: 477911AD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2240000 | PA      | $2240116.48   | 0.79%             | 2029-06-15      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE SA F2V   | SOCIETE GENERALE SA F2V   | CUSIP: 83368RBY7<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    456000 | PA      | $463625.94    | 0.16%             | 2055-01-19      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 3.50%  | FREDDIE MAC REMICS 3.50%  | CUSIP: 3137FHR70<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |      8097 | PA      | $7910.29      | 0.00%             | 2047-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC GOLD PO 3.50% | FREDDIE MAC GOLD PO 3.50% | CUSIP: 3132J4HC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    176678 | PA      | $171623.15    | 0.06%             | 2036-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 2.50%     | FANNIE MAE POOL 2.50%     | CUSIP: 3140X9YX7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1035960 | PA      | $892044.37    | 0.31%             | 2051-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| VERTIV HLDGS. CO 5.80%    | VERTIV HLDGS. CO 5.80%    | CUSIP: 92537NAC2<br>LEI: 549300KTTIRAOGXCRV69 | Long             | DBT              | CORP              | US        |    915000 | PA      | $879537.18    | 0.31%             | 2056-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 6.50%     | FANNIE MAE POOL 6.50%     | CUSIP: 3140XLDQ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    368595 | PA      | $389291.38    | 0.14%             | 2040-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PACIFICORP 5.45%          | PACIFICORP 5.45%          | CUSIP: 695114DD7<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |    450000 | PA      | $448317.60    | 0.16%             | 2034-02-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| MMAF EQUIP. FIN. LL 4.95% | MMAF EQUIP. FIN. LL 4.95% | CUSIP: 55318CAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $504736.95    | 0.18%             | 2031-07-14      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 2.50%     | FANNIE MAE POOL 2.50%     | CUSIP: 3140XJXV0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1056327 | PA      | $910271.35    | 0.32%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FINANCE OF AMERICA 2.00%  | FINANCE OF AMERICA 2.00%  | CUSIP: 31739TAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    987449 | PA      | $991792.43    | 0.35%             | 2073-04-25      | Variable      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| FREDDIE MAC POOL 5.50%    | FREDDIE MAC POOL 5.50%    | CUSIP: 3133KR4Z4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    905865 | PA      | $921577.68    | 0.33%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 4.00%     | FANNIE MAE POOL 4.00%     | CUSIP: 31418CRD8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    234107 | PA      | $224209.68    | 0.08%             | 2047-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATL. MT 5.00% | GOVERNMENT NATL. MT 5.00% | CUSIP: 38385CB31<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    256559 | PA      | $257369.76    | 0.09%             | 2054-05-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EXETER AUTOMOBILE R 5.49% | EXETER AUTOMOBILE R 5.49% | CUSIP: 30167MAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    615000 | PA      | $620147.30    | 0.22%             | 2031-05-15      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| CITADEL LP 6.375%         | CITADEL LP 6.375%         | CUSIP: 17288XAC8<br>LEI: 549300IPM6EKPVUPFL67 | Long             | DBT              | CORP              | US        |    715000 | PA      | $741054.94    | 0.26%             | 2032-01-23      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.00%     | FANNIE MAE POOL 5.00%     | CUSIP: 3140JAUW6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     61304 | PA      | $61753.80     | 0.02%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO L 6.30% | FOUNDRY JV HOLDCO L 6.30% | CUSIP: 350930AK9<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    825000 | PA      | $859321.16    | 0.30%             | 2039-01-25      | Fixed         | 6.30%                 | Yes           |                  2 | On Loan: No      |
| GINNIE MAE II POOL 4.00%  | GINNIE MAE II POOL 4.00%  | CUSIP: 36179MC24<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    958433 | PA      | $921551.06    | 0.33%             | 2042-05-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP 6.00%         | ORACLE CORP 6.00%         | CUSIP: 68389XDB8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1370000 | PA      | $1148584.30   | 0.41%             | 2055-08-03      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMER 2.931% | WELLS FARGO COMMER 2.931% | CUSIP: 95000FAT3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    370000 | PA      | $368601.36    | 0.13%             | 2048-07-15      | Fixed         | 2.93%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 4.00%     | FANNIE MAE POOL 4.00%     | CUSIP: 3140H1XQ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    403578 | PA      | $386642.07    | 0.14%             | 2048-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 3.00%    | FREDDIE MAC POOL 3.00%    | CUSIP: 3131XY4R7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    422260 | PA      | $379068.58    | 0.13%             | 2048-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 5.50%    | FREDDIE MAC POOL 5.50%    | CUSIP: 3133BV5N1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1180897 | PA      | $1190171.73   | 0.42%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VULCAN MATS. CO 5.35%     | VULCAN MATS. CO 5.35%     | CUSIP: 929160BC2<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |    975000 | PA      | $990536.33    | 0.35%             | 2034-12-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| EXPEDIA GROUP INC 5.4%    | EXPEDIA GROUP INC 5.4%    | CUSIP: 30212PBL8<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |   2950000 | PA      | $2926595.08   | 1.03%             | 2035-02-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP 6.75%   | CHORD ENERGY CORP 6.75%   | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |    850000 | PA      | $877575.85    | 0.31%             | 2033-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CITIGROUP COMMER. 3.585%  | CITIGROUP COMMER. 3.585%  | CUSIP: 29429CAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    601086 | PA      | $593566.37    | 0.21%             | 2049-04-15      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| PROVIDENT FNDG. MTGE. VAR | PROVIDENT FNDG. MTGE. VAR | CUSIP: 74389BAN1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2181020 | PA      | $2164357.07   | 0.76%             | 2054-12-25      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE 5.95%  | BLACKSTONE PRIVATE 5.95%  | CUSIP: 09261HBN6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    395000 | PA      | $389163.02    | 0.14%             | 2029-07-16      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BHP BILLITON FIN. U 5.30% | BHP BILLITON FIN. U 5.30% | CUSIP: 055451BL1<br>LEI: 5493003NUVITP3TMY274 | Long             | DBT              | CORP              | AU        |   1125000 | PA      | $1145152.01   | 0.40%             | 2035-02-21      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 4.50%     | FANNIE MAE POOL 4.50%     | CUSIP: 31418CRE6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     20571 | PA      | $20163.98     | 0.01%             | 2047-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC F2F         | CITIGROUP INC F2F         | CUSIP: 172967LS8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1010000 | PA      | $994971.24    | 0.35%             | 2028-10-27      | Fixed         | 3.52%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC GOLD PO 3.50% | FREDDIE MAC GOLD PO 3.50% | CUSIP: 31335B4G8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     65528 | PA      | $62036.63     | 0.02%             | 2043-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 4.00%     | FANNIE MAE POOL 4.00%     | CUSIP: 3138LTJF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    127057 | PA      | $122666.93    | 0.04%             | 2042-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.50%     | FANNIE MAE POOL 5.50%     | CUSIP: 31418MRQ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    310821 | PA      | $316478.28    | 0.11%             | 2037-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.50%     | FANNIE MAE POOL 3.50%     | CUSIP: 3138WBF91<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     90857 | PA      | $90049.49     | 0.03%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC GOLD PO 3.50% | FREDDIE MAC GOLD PO 3.50% | CUSIP: 3128MFKH0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    474538 | PA      | $467519.34    | 0.17%             | 2033-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 2.50%     | FANNIE MAE POOL 2.50%     | CUSIP: 3138MRMJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12644 | PA      | $12475.20     | 0.00%             | 2028-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC REMICS 5.00%  | FREDDIE MAC REMICS 5.00%  | CUSIP: 31395XRF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    422351 | PA      | $427504.15    | 0.15%             | 2035-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 4.50%     | FANNIE MAE POOL 4.50%     | CUSIP: 3140X4V45<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    734506 | PA      | $721688.72    | 0.25%             | 2049-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTS. LP / IC 5.25% | ICAHN ENTS. LP / IC 5.25% | CUSIP: 451102BZ9<br>LEI: 549300T0G4GS0SINS786 | Long             | DBT              | CORP              | US        |    835000 | PA      | $818222.68    | 0.29%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.50%     | FANNIE MAE POOL 3.50%     | CUSIP: 3140X4T63<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12221 | PA      | $11986.79     | 0.00%             | 2034-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 3.00%    | FREDDIE MAC POOL 3.00%    | CUSIP: 3132CWGZ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    267658 | PA      | $261178.62    | 0.09%             | 2032-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 3.00%    | FREDDIE MAC POOL 3.00%    | CUSIP: 3132DMBA2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    547170 | PA      | $495084.52    | 0.17%             | 2047-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 3.50%    | FREDDIE MAC POOL 3.50%    | CUSIP: 3131XBJA8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    328325 | PA      | $326014.71    | 0.12%             | 2029-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE I POOL 3.50%   | GINNIE MAE I POOL 3.50%   | CUSIP: 36230RYJ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    806086 | PA      | $756469.87    | 0.27%             | 2040-12-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.50%     | FANNIE MAE POOL 3.50%     | CUSIP: 3138EKMM4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     26944 | PA      | $26764.81     | 0.01%             | 2028-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WPX ENERGY INC 4.50%      | WPX ENERGY INC 4.50%      | CUSIP: 98212BAL7<br>LEI: ZXZE9GCS2BB547GJW219 | Long             | DBT              | CORP              | US        |   1593000 | PA      | $1586580.86   | 0.56%             | 2030-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 2.50%     | FANNIE MAE POOL 2.50%     | CUSIP: 3138WG2W3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    584667 | PA      | $564108.77    | 0.20%             | 2031-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| LADDER CAP. FIN. HL 4.25% | LADDER CAP. FIN. HL 4.25% | CUSIP: 505742AM8<br>LEI: 254900TBF2Z4GR7NSX02 | Long             | DBT              | CORP              | US        |    690000 | PA      | $681669.42    | 0.24%             | 2027-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| VMWARE LLC 4.70%          | VMWARE LLC 4.70%          | CUSIP: 928563AF2<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    205000 | PA      | $206256.62    | 0.07%             | 2030-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED EDISON 3.35% | CONSOLIDATED EDISON 3.35% | CUSIP: 209111FX6<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |      7000 | PA      | $6714.69      | 0.00%             | 2030-04-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| FORD CREDIT AUTO OW 5.23% | FORD CREDIT AUTO OW 5.23% | CUSIP: 344930AD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    201833 | PA      | $202727.05    | 0.07%             | 2028-05-15      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 5.50%    | FREDDIE MAC POOL 5.50%    | CUSIP: 3132DQQ33<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    850322 | PA      | $860359.07    | 0.30%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BANK5 2023-5YR2 VAR       | BANK5 2023-5YR2 VAR       | CUSIP: 06211CAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    853000 | PA      | $885446.67    | 0.31%             | 2056-07-15      | Variable      | 6.66%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 6.00%    | FREDDIE MAC POOL 6.00%    | CUSIP: 3132DQ3Y0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    541012 | PA      | $560326.10    | 0.20%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 6.50%    | FREDDIE MAC POOL 6.50%    | CUSIP: 3132E0PL0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    738552 | PA      | $776977.05    | 0.27%             | 2053-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CIPHER COMPUTE LLC 7.125% | CIPHER COMPUTE LLC 7.125% | CUSIP: 17253NAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1424539.88   | 0.50%             | 2030-11-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| TORONTO-DOMINION B 3.913% | TORONTO-DOMINION B 3.913% | CUSIP: 89115KAK6<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   2050000 | PA      | $2035326.82   | 0.72%             | 2028-01-13      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |
| JABIL INC 4.75%           | JABIL INC 4.75%           | CUSIP: 46656PAD6<br>LEI: 5493000CGCQY2OQU7669 | Long             | DBT              | CORP              | US        |    755000 | PA      | $735145.96    | 0.26%             | 2033-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SOTHEBY S ARTFI MAS 4.80% | SOTHEBY S ARTFI MAS 4.80% | CUSIP: 83589DAA4<br>LEI: 549300P5BAAMQQ7VL735 | Long             | ABS-O            | CORP              | US        |    380000 | PA      | $379408.68    | 0.13%             | 2033-06-20      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| FREDDIE MAC GOLD PO 3.50% | FREDDIE MAC GOLD PO 3.50% | CUSIP: 3128MEN56<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7604 | PA      | $7527.36      | 0.00%             | 2029-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC GOLD PO 7.50% | FREDDIE MAC GOLD PO 7.50% | CUSIP: 31292HAK0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     25750 | PA      | $26386.68     | 0.01%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BMARK 2023-V4 VAR         | BMARK 2023-V4 VAR         | CUSIP: 081926AH0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1265000 | PA      | $1301475.64   | 0.46%             | 2056-11-15      | Variable      | 7.46%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 2.50%    | FREDDIE MAC POOL 2.50%    | CUSIP: 3132CW4K7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    658996 | PA      | $630806.23    | 0.22%             | 2035-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE I POOL 5.00%   | GINNIE MAE I POOL 5.00%   | CUSIP: 3622ACCF5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    905046 | PA      | $923895.43    | 0.33%             | 2040-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.50%     | FANNIE MAE POOL 3.50%     | CUSIP: 3140X6RX1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    274610 | PA      | $271122.91    | 0.10%             | 2034-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 2.50%    | FREDDIE MAC POOL 2.50%    | CUSIP: 3132ADPS1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1068712 | PA      | $1032202.03   | 0.36%             | 2031-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BENCHMARK 2023-V3 MTG VAR | BENCHMARK 2023-V3 MTG VAR | CUSIP: 08163VAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1090000 | PA      | $1127401.06   | 0.40%             | 2056-07-15      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 6.00%    | FREDDIE MAC POOL 6.00%    | CUSIP: 3132DQTG1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    835929 | PA      | $863756.39    | 0.30%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 7.00%     | FANNIE MAE POOL 7.00%     | CUSIP: 31385H4W9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8871 | PA      | $9315.49      | 0.00%             | 2032-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NI US GOV T PORTFOLIO     | NI US GOV T PORTFOLIO     | CUSIP: 665278404<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |   6848500 | NS      | $6848500.32   | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| FREDDIE MAC POOL 5.50%    | FREDDIE MAC POOL 5.50%    | CUSIP: 3132DQG59<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    961916 | PA      | $975619.24    | 0.34%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 6.50%     | FANNIE MAE POOL 6.50%     | CUSIP: 3140XMTJ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    569723 | PA      | $598401.61    | 0.21%             | 2053-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TSY. 4.00%  | UNITED STATES TSY. 4.00%  | CUSIP: 91282CPJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  22892000 | PA      | $22330430.63  | 7.88%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION ENERG 3.90% | CONSTELLATION ENERG 3.90% | CUSIP: 210385AP5<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |    610000 | PA      | $605094.59    | 0.21%             | 2028-01-08      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLS. B 5.70% | APOLLO DEBT SOLS. B 5.70% | CUSIP: 03770DAL7<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |    405000 | PA      | $395088.31    | 0.14%             | 2031-01-23      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| FREDDIE MAC POOL 5.00%    | FREDDIE MAC POOL 5.00%    | CUSIP: 3132DQG75<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1059836 | PA      | $1053380.84   | 0.37%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 5.50%    | FREDDIE MAC POOL 5.50%    | CUSIP: 3132DQKL9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1024586 | PA      | $1038781.55   | 0.37%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 5.00%    | FREDDIE MAC POOL 5.00%    | CUSIP: 3132DQPS9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    627606 | PA      | $621765.82    | 0.22%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.50%     | FANNIE MAE POOL 5.50%     | CUSIP: 3140QS3Y5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    508143 | PA      | $511672.17    | 0.18%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OBX 2023-NQM7 TRUS 6.844% | OBX 2023-NQM7 TRUS 6.844% | CUSIP: 67117XAA4<br>LEI: 254900K7TTKPUWNMSZ83 | Long             | ABS-O            | CORP              | US        |    826087 | PA      | $829988.89    | 0.29%             | 2063-04-25      | Variable      | 6.84%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER COMMER. 5.3078% | SANTANDER COMMER. 5.3078% | CUSIP: 78398LAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1200000 | PA      | $1204656.12   | 0.43%             | 2028-04-15      | Variable      | 5.31%                 | Yes           |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PA 5.75% | ANTERO MIDSTREAM PA 5.75% | CUSIP: 03690AAN6<br>LEI: 529900HFO1BDEIT4QU11 | Long             | DBT              | CORP              | US        |    450000 | PA      | $443444.28    | 0.16%             | 2034-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| RESEARCH-DRIVEN PA 5.228% | RESEARCH-DRIVEN PA 5.228% | CUSIP: 76089KAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1000898.40   | 0.35%             | 2034-06-26      | Fixed         | 5.23%                 | Yes           |                  2 | On Loan: No      |
| BANK OF AMERICA CORP F2F  | BANK OF AMERICA CORP F2F  | CUSIP: 06051GLS6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1092000 | PA      | $1126495.37   | 0.40%             | 2029-09-15      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| BPR TST. 2023-BRK2 VAR    | BPR TST. 2023-BRK2 VAR    | CUSIP: 05610WAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    380000 | PA      | $388738.33    | 0.14%             | 2038-10-05      | Variable      | 6.90%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.00%     | FANNIE MAE POOL 5.00%     | CUSIP: 3140XM2J4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    666131 | PA      | $673176.72    | 0.24%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK PEARL COMPUT 6.125% | BLACK PEARL COMPUT 6.125% | CUSIP: 09216NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $66156.81     | 0.02%             | 2031-02-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| FREDDIE MAC POOL 5.50%    | FREDDIE MAC POOL 5.50%    | CUSIP: 3132DQPV2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    878852 | PA      | $893618.33    | 0.32%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.50%     | FANNIE MAE POOL 5.50%     | CUSIP: 3140XLE38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    666318 | PA      | $672054.03    | 0.24%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DELL EQUIP. FIN. TS 5.93% | DELL EQUIP. FIN. TS 5.93% | CUSIP: 24702EAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    112786 | PA      | $113121.73    | 0.04%             | 2029-04-23      | Fixed         | 5.93%                 | Yes           |                  2 | On Loan: No      |
| FORD MOTOR CREDIT 5.869%  | FORD MOTOR CREDIT 5.869%  | CUSIP: 345397H89<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2780000 | PA      | $2669021.45   | 0.94%             | 2035-10-31      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| RESEARCH-DRIVEN PA 5.093% | RESEARCH-DRIVEN PA 5.093% | CUSIP: 76100JAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2492865.75   | 0.88%             | 2034-08-25      | Fixed         | 5.09%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER BANK AUT 5.151% | SANTANDER BANK AUT 5.151% | CUSIP: 80290CCT9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    730000 | PA      | $729147.29    | 0.26%             | 2034-01-16      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER MTGE. ASSET VAR | SANTANDER MTGE. ASSET VAR | CUSIP: 80265DAA1<br>LEI: 2549003RXF6LNJ2GP990 | Long             | ABS-O            | CORP              | US        |    992536 | PA      | $989715.37    | 0.35%             | 2065-11-25      | Variable      | 5.14%                 | Yes           |                  2 | On Loan: No      |
| BROADCOM INC 4.60%        | BROADCOM INC 4.60%        | CUSIP: 11135FDA6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1055000 | PA      | $1038933.33   | 0.37%             | 2033-01-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP 4.125% | AERCAP IRELAND CAP 4.125% | CUSIP: 00774MBT1<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |    600000 | PA      | $591883.54    | 0.21%             | 2029-02-28      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MOHAWK INDS. INC 5.85%    | MOHAWK INDS. INC 5.85%    | CUSIP: 608190AM6<br>LEI: 549300JI1115MG3Q6322 | Long             | DBT              | CORP              | US        |      7000 | PA      | $7201.69      | 0.00%             | 2028-09-18      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| CBRE SERVS. INC 4.90%     | CBRE SERVS. INC 4.90%     | CUSIP: 12505BAL4<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |    400000 | PA      | $394448.27    | 0.14%             | 2033-01-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| INSTALLED BLDG. PR 5.625% | INSTALLED BLDG. PR 5.625% | CUSIP: 45780RAB7<br>LEI: 549300I95Y9P9YM5FI86 | Long             | DBT              | CORP              | US        |    130000 | PA      | $126853.48    | 0.04%             | 2034-02-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| AFFILIATED MGRS. GR 5.50% | AFFILIATED MGRS. GR 5.50% | CUSIP: 008252AS7<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | DBT              | CORP              | US        |    705000 | PA      | $694909.02    | 0.25%             | 2036-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SANTANDER MTGE. AS 5.443% | SANTANDER MTGE. AS 5.443% | CUSIP: 80265DAE3<br>LEI: 2549003RXF6LNJ2GP990 | Long             | ABS-O            | CORP              | US        |    343213 | PA      | $341621.68    | 0.12%             | 2065-11-25      | Variable      | 5.44%                 | Yes           |                  2 | On Loan: No      |
| CITIZENS BANK NA/PROV F2F | CITIZENS BANK NA/PROV F2F | CUSIP: 75524KSA3<br>LEI: DRMSV1Q0EKMEXLAU1P80 | Long             | DBT              | CORP              | US        |   1093000 | PA      | $1086139.57   | 0.38%             | 2029-01-29      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 5.00%    | FREDDIE MAC POOL 5.00%    | CUSIP: 3132DQB21<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1015798 | PA      | $1010842.33   | 0.36%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANC 6.50% | MACQUARIE AIRFINANC 6.50% | CUSIP: 55609NAD0<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    175000 | PA      | $183249.99    | 0.06%             | 2031-03-26      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CARVANA AUTO RECEIV 5.48% | CARVANA AUTO RECEIV 5.48% | CUSIP: 14688YAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1692000 | PA      | $1723737.69   | 0.61%             | 2031-11-10      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 2.50%     | FANNIE MAE POOL 2.50%     | CUSIP: 3140QLZ82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    564954 | PA      | $484760.24    | 0.17%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SFS AUTO RECEIVABLE 4.44% | SFS AUTO RECEIVABLE 4.44% | CUSIP: 78398HAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    630000 | PA      | $631853.46    | 0.22%             | 2030-12-20      | Fixed         | 4.44%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.00%     | FANNIE MAE POOL 5.00%     | CUSIP: 3140XLFD5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1031305 | PA      | $1025076.37   | 0.36%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL 5.50%  | GINNIE MAE II POOL 5.50%  | CUSIP: 3622ACSK7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    825396 | PA      | $836493.24    | 0.30%             | 2053-09-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT 6.798%  | FORD MOTOR CREDIT 6.798%  | CUSIP: 345397D59<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    305000 | PA      | $315732.76    | 0.11%             | 2028-11-07      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MTGE. TS 5.234% | JP MORGAN MTGE. TS 5.234% | CUSIP: 46664DAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    724069 | PA      | $718006.42    | 0.25%             | 2065-05-25      | Variable      | 5.23%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 2.50%     | FANNIE MAE POOL 2.50%     | CUSIP: 3140QMRG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1007459 | PA      | $864148.99    | 0.31%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC POOL 6.00%    | FREDDIE MAC POOL 6.00%    | CUSIP: 3132E0E99<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    673834 | PA      | $686884.18    | 0.24%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TSY. 4.375% | UNITED STATES TSY. 4.375% | CUSIP: 91282CMD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1610000 | PA      | $1637231.64   | 0.58%             | 2029-12-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL C 5.00% | SAUDI ARABIAN OIL C 5.00% | CUSIP: 80415RAC5<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |   1065000 | PA      | $1022828.02   | 0.36%             | 2036-02-02      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 4.50%     | FANNIE MAE POOL 4.50%     | CUSIP: 3138WJQ68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    668323 | PA      | $658516.55    | 0.23%             | 2046-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 4.00%     | FANNIE MAE POOL 4.00%     | CUSIP: 31418CNE0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    497499 | PA      | $476468.21    | 0.17%             | 2047-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JGWPT XXX LLC 4.08%       | JGWPT XXX LLC 4.08%       | CUSIP: 46617LAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1067764 | PA      | $1017048.83   | 0.36%             | 2073-01-17      | Fixed         | 4.08%                 | Yes           |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAY 4.15% | BANCO BILBAO VIZCAY 4.15% | CUSIP: 05946KAT8<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    600000 | PA      | $593012.33    | 0.21%             | 2029-03-03      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| COLT 2024-7 MTGE. 5.791%  | COLT 2024-7 MTGE. 5.791%  | CUSIP: 19688YAB0<br>LEI: 213800EA95GXXC9AJO50 | Long             | ABS-O            | CORP              | US        |   1039445 | PA      | $1042552.49   | 0.37%             | 2069-12-26      | Variable      | 5.79%                 | Yes           |                  2 | On Loan: No      |
| APOLLO GBL. MGT. IN 5.70% | APOLLO GBL. MGT. IN 5.70% | CUSIP: 03769MAG1<br>LEI: 254900LMFT1CY9IYB476 | Long             | DBT              | CORP              | US        |    940000 | PA      | $940834.52    | 0.33%             | 2036-03-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY CAP 3.903% | MORGAN STANLEY CAP 3.903% | CUSIP: 61766CAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    360622 | PA      | $358090.69    | 0.13%             | 2049-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| SOTHEBY S ARTFI MAS 5.00% | SOTHEBY S ARTFI MAS 5.00% | CUSIP: 83589DAD8<br>LEI: 549300P5BAAMQQ7VL735 | Long             | ABS-O            | CORP              | US        |    536000 | PA      | $534925.21    | 0.19%             | 2033-06-20      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRA 6.259% | PAGAYA AI DEBT GRA 6.259% | CUSIP: 69548TAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    774729 | PA      | $777606.20    | 0.27%             | 2032-02-16      | Fixed         | 6.26%                 | Yes           |                  2 | On Loan: No      |
| PMT LOAN TST. 2024-IN VAR | PMT LOAN TST. 2024-IN VAR | CUSIP: 73015BAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1446391 | PA      | $1463567.24   | 0.52%             | 2059-10-25      | Variable      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| BOEING CO/THE 6.528%      | BOEING CO/THE 6.528%      | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    675000 | PA      | $735306.26    | 0.26%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| DEPOSITORY TST. CO/ 4.55% | DEPOSITORY TST. CO/ 4.55% | CUSIP: 249672AA4<br>LEI: 549300HBJLRO8YFMI370 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250512.83    | 0.09%             | 2031-03-27      | Fixed         | 4.55%                 | Yes           |                  2 | On Loan: No      |
| GINNIE MAE II POOL 4.00%  | GINNIE MAE II POOL 4.00%  | CUSIP: 36179QGD7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    178781 | PA      | $171788.69    | 0.06%             | 2044-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HUDSON YARDS 2016- 2.835% | HUDSON YARDS 2016- 2.835% | CUSIP: 44421LAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    910000 | PA      | $903058.79    | 0.32%             | 2038-08-10      | Fixed         | 2.83%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY F2F        | MORGAN STANLEY F2F        | CUSIP: 61747YGC3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1791647.91   | 0.63%             | 2047-03-13      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC GOLD PO 7.00% | FREDDIE MAC GOLD PO 7.00% | CUSIP: 3128M9U67<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    409601 | PA      | $444529.42    | 0.16%             | 2039-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 4.00%     | FANNIE MAE POOL 4.00%     | CUSIP: 31417Y6Q5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    196752 | PA      | $195078.60    | 0.07%             | 2031-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.50%     | FANNIE MAE POOL 3.50%     | CUSIP: 31418BYU4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1025911 | PA      | $962007.87    | 0.34%             | 2046-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 5.50%     | FANNIE MAE POOL 5.50%     | CUSIP: 31418MH21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    545852 | PA      | $556445.82    | 0.20%             | 2037-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HONEYWELL AEROSPAC 5.732% | HONEYWELL AEROSPAC 5.732% | CUSIP: 43849RAJ4<br>LEI: 213800ZUAQRBYL67JS90 | Long             | DBT              | CORP              | US        |   2925000 | PA      | $2891219.09   | 1.02%             | 2056-03-16      | Fixed         | 5.73%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER MTGE. ASSET VAR | SANTANDER MTGE. ASSET VAR | CUSIP: 802929AH2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    445000 | PA      | $440559.61    | 0.16%             | 2066-02-25      | Variable      | 5.86%                 | Yes           |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.50%     | FANNIE MAE POOL 3.50%     | CUSIP: 3138WGG65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    809791 | PA      | $759343.07    | 0.27%             | 2046-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC NON GOLD FRN  | FREDDIE MAC NON GOLD FRN  | CUSIP: 3128QSRR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     82140 | PA      | $84361.88     | 0.03%             | 2037-11-01      | Variable      | 6.46%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC NON GOLD FRN  | FREDDIE MAC NON GOLD FRN  | CUSIP: 3128JN2H7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     39874 | PA      | $40974.85     | 0.01%             | 2037-09-01      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| JGWPT XXVII LLC 3.22%     | JGWPT XXVII LLC 3.22%     | CUSIP: 46617AAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    779533 | PA      | $708458.20    | 0.25%             | 2065-09-15      | Fixed         | 3.22%                 | Yes           |                  2 | On Loan: No      |
| FREDDIE MAC GOLD PO 2.50% | FREDDIE MAC GOLD PO 2.50% | CUSIP: 3128MMWD1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     42379 | PA      | $40784.83     | 0.01%             | 2032-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC 5.80%      | AMAZON.COM INC 5.80%      | CUSIP: 023135DH6<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    910000 | PA      | $909268.71    | 0.32%             | 2056-03-13      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 4.50%     | FANNIE MAE POOL 4.50%     | CUSIP: 3138WDBZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    364350 | PA      | $359454.69    | 0.13%             | 2044-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE POOL 3.50%     | FANNIE MAE POOL 3.50%     | CUSIP: 31418CFE9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    651516 | PA      | $605982.53    | 0.21%             | 2047-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK 3.72% | MORGAN STANLEY BANK 3.72% | CUSIP: 61691GAS9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $347976.41    | 0.12%             | 2049-12-15      | Variable      | 3.72%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC 4.80%        | ALPHABET INC 4.80%        | CUSIP: 02079KBM8<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    349000 | PA      | $347505.03    | 0.12%             | 2036-02-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| PK ALIFT LOAN FNDG 4.999% | PK ALIFT LOAN FNDG 4.999% | CUSIP: 72585CAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4040000 | PA      | $3986677.66   | 1.41%             | 2043-09-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CENCORA INC 4.25%         | CENCORA INC 4.25%         | CUSIP: 03073EBB0<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |    325000 | PA      | $319061.06    | 0.11%             | 2030-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| STORE CAP. LLC 5.40%      | STORE CAP. LLC 5.40%      | CUSIP: 862123AB2<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              | CORP              | US        |    780000 | PA      | $783591.95    | 0.28%             | 2030-04-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CBOT                      | FUT. CBT UL T-BONDS JUN26 | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -35 | NC      | $-4079687.50  | -1.44%            |  |  |  | No            |                  1 | On Loan: No      |
| CBOT                      | FUT. CBT ULT TNOTE JUN26  | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -126 | NC      | $-14302965.60 | -5.05%            |  |  |  | No            |                  1 | On Loan: No      |
| CBOT                      | FUT. U.S. T-BONDS JUN26   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       190 | NC      | $21636250.00  | 7.64%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOT                      | FUT. US 2YR T-NOTE JUN26  | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        48 | NC      | $9957379.20   | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOT                      | FUT. YR T NOTE JUN26      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        23 | NC      | $2488133.10   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** Northern Funds

**Signature:** Randal E. Rein

**Name of Signer:** Randal E. Rein

**Title:** Treasurer and Principal Financial Officer