# EDGAR Filing Document

**Accession Number:** 0001552947
**File Stem:** 0000910472-25-001441
**Filing Date:** 2025-9
**Character Count:** 120728
**Document Hash:** 5739190c3d73514deae5e91487bc65da
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-001441.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0000910472-25-001441

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Two Roads Shared Trust
- **CENTRAL INDEX KEY:** 0001552947

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22718
- **FILM NUMBER:** 251347169

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 402-895-1600

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Anfield Universal Fixed Income ETF (Series ID: S000062994)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000204431 | Anfield Universal Fixed Income ETF |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Two Roads Shared Trust

- **b. Investment Company Act file number:** 811-22718

- **c. CIK number of Registrant:** 0001552947

- **d. LEI of Registrant:** 549300REHU8QC2CK4V30

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

  - **Street Address 1:** 225 PICTORIA DRIVE

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 402-895-1600

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

- **a. Name of Series:** Anfield Universal Fixed Income ETF

- **b. EDGAR series identifier (if any):** S000062994

- **c. LEI of Series:** 549300P4WM6QLLS2DJ24

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-07-31

**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:** $140507643.44

**Total Liabilities:** $164520.71

**Net Assets:** $140343122.73

**Cash Not Reported:** $1594643.95

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 396.57530100 | **1-Year:** 3730.35067300 | **5-Year:** 8140.42858400 | **10-Year:** 9684.38540700 | **30-Year:** 764.45147400

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

- **3-Month:** 348.53576100 | **1-Year:** 3340.31620000 | **5-Year:** 6387.44539000 | **10-Year:** 1388.32017600 | **30-Year:** 0.37593700

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000204431 | 0.80%                | 1.00%                | 0.21%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2840.25                 | $646926.68                                 |
| Month 2  | $18039.48                | $1152212.08                                |
| Month 3  | $-56982.53               | $-53343.04                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Bank of America Corp.                                           | BAC 4 3/8 PERP          | CUSIP: 060505GB4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    435000 | PA      | $425599.41    | 0.30%             | 2174-04-27      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Charles River Laboratories International, Inc.                  | CRL 4 1/4 05/01/28      | CUSIP: 159864AE7<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |    813000 | PA      | $789692.67    | 0.56%             | 2028-05-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial Inc.                                             | ALLY 6 07/15/29         | CUSIP: 02006DV40<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250050.75    | 0.18%             | 2029-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2980 SL             | CUSIP: 31395UF63<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    200476 | PA      | $18159.60     | 0.01%             | 2034-11-15      | Floating      | 2.25%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                   | USB 5.3 PERP            | CUSIP: 902973AZ9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    597000 | PA      | $596073.40    | 0.42%             | 2049-12-29      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2004-62 TP          | CUSIP: 31394AQS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    150090 | PA      | $16937.97     | 0.01%             | 2033-07-25      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4139 PO             | CUSIP: 3137AWYB5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    102250 | PA      | $67178.99     | 0.05%             | 2042-08-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PENN Entertainment Inc                                          | PENN 4 1/8 07/01/29     | CUSIP: 707569AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $74121.23     | 0.05%             | 2029-07-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2004-91 DS          | CUSIP: 31394BYP3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    140324 | PA      | $13034.83     | 0.01%             | 2034-12-25      | Floating      | 2.19%                 | No            |                  2 | On Loan: No      |
| Six Flags                                                       | FUN TL B 1L USD         | CUSIP: 15018LAN1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1000000 | PA      | $1000625.00   | 0.71%             | 2031-05-01      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| Shackleton 2014-V-R Clo Ltd / Llc                               | SHACK 2014-5RA D        | CUSIP: 81881JAJ1<br>LEI: 549300OM5GJJFIKCOZ48 | Long             | ABS-CBDO         | CORP              | KY        |   1750000 | PA      | $1750490.00   | 1.25%             | 2031-05-07      | Floating      | 7.71%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 5.8 03/08/29          | CUSIP: 345397E58<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    225000 | PA      | $225500.80    | 0.16%             | 2029-03-08      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Tcw Clo                                                         | TCW 2017-1A A2R3        | CUSIP: 87240NBJ4<br>LEI: 549300BD6SSD2EBMCC95 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000495.00   | 0.71%             | 2034-10-29      | Floating      | 5.76%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2018-120 JI         | CUSIP: 38380YVE2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    155366 | PA      | $22435.09     | 0.02%             | 2048-09-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-117 SM         | CUSIP: 31396YAV4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    214799 | PA      | $19892.26     | 0.01%             | 2038-01-25      | Floating      | 1.84%                 | No            |                  2 | On Loan: No      |
| Aviation Capital Group LLC                                      | ACGCAP 1.95 01/30/26    | CUSIP: 05369AAK7<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    250000 | PA      | $246524.48    | 0.18%             | 2026-01-30      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Octagon Invt Partners 46 Ltd /  Llc                             | OCT46 2020-2A DR        | CUSIP: 67577VAS2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $998037.00    | 0.71%             | 2036-07-15      | Floating      | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 239 IO              | CUSIP: 31282YJ34<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     39772 | PA      | $7137.11      | 0.01%             | 2036-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 6.2 06/20/34          | CUSIP: 34540TH88<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $493740.00    | 0.35%             | 2034-06-20      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                     | COF FLOAT PERP          | CUSIP: 14040HDK8<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    922000 | PA      | $914035.58    | 0.65%             | 2173-10-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 2 03/09/26        | CUSIP: 654740BS7<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1275479.48   | 0.91%             | 2026-03-09      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 324 C17             | CUSIP: 31325VBM5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2586720 | PA      | $223561.56    | 0.16%             | 2033-12-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                         | VW 4 3/4 11/13/28       | CUSIP: 928668AU6<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    500000 | PA      | $497569.66    | 0.35%             | 2028-11-13      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale S.A.                                           | SOCGEN 5 3/8 PERP       | CUSIP: F8500RAA0<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $928805.30    | 0.66%             | 2173-05-18      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2010-152 SA         | CUSIP: 38377NEM2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    106837 | PA      | $11683.62     | 0.01%             | 2040-11-16      | Floating      | 1.60%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2010-126 UI         | CUSIP: 31398SBJ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     62510 | PA      | $6075.80      | 0.00%             | 2040-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 398 C9              | CUSIP: 3136FGRH2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    664450 | PA      | $182912.64    | 0.13%             | 2039-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 364 2               | CUSIP: 3136FCYK6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    237874 | PA      | $32130.89     | 0.02%             | 2035-09-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                         | VW 5.65 09/12/28        | CUSIP: 928668BW1<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    500000 | PA      | $511978.84    | 0.36%             | 2028-09-12      | Fixed         | 5.65%                 | Yes           |                  2 | On Loan: No      |
| FS KKR Capital Corp                                             | FSK 2 5/8 01/15/27      | CUSIP: 302635AH0<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    275000 | PA      | $264309.29    | 0.19%             | 2027-01-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4618 SA             | CUSIP: 3137BRXK6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    331721 | PA      | $37729.53     | 0.03%             | 2046-09-15      | Floating      | 1.55%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 240 IO              | CUSIP: 31282YJ42<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    226154 | PA      | $40484.97     | 0.03%             | 2036-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 244 IO              | CUSIP: 31282YXC8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    561441 | PA      | $82026.11     | 0.06%             | 2036-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2013-181 SA         | CUSIP: 38378YFA2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     75797 | PA      | $8222.05      | 0.01%             | 2043-11-20      | Floating      | 1.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                                    | B 09/11/25              | CUSIP: 912797PW1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4000000 | PA      | $3980490.28   | 2.84%             | 2025-09-11      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2017-56 IE          | CUSIP: 38376ULU1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    936017 | PA      | $74127.11     | 0.05%             | 2044-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co, Inc.                                | AEP 3 7/8 02/15/62      | CUSIP: 025537AU5<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1546298.88   | 1.10%             | 2062-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 1.85 09/16/26     | CUSIP: 65480CAC9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |   2262000 | PA      | $2171833.97   | 1.55%             | 2026-09-16      | Fixed         | 1.85%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 4.85 11/20/29         | CUSIP: 34540TVW9<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $480774.98    | 0.34%             | 2029-11-20      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Air Lease Corporation                                           | AL 4.65 PERP            | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   2436000 | PA      | $2412386.15   | 1.72%             | 2170-06-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2017-97 SW          | CUSIP: 3136B0DZ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1200598 | PA      | $142653.48    | 0.10%             | 2047-12-25      | Floating      | 1.74%                 | No            |                  2 | On Loan: No      |
| Bain Capital Specialty Finance Inc                              | BCSF 5.95 03/15/30      | CUSIP: 05684BAD9<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |    383000 | PA      | $381020.10    | 0.27%             | 2030-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3149 SM             | CUSIP: 31396RJ99<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    156663 | PA      | $13621.39     | 0.01%             | 2036-05-15      | Floating      | 2.20%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2017-108 SA         | CUSIP: 3136B0RS7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    833907 | PA      | $95395.06     | 0.07%             | 2048-01-25      | Floating      | 1.69%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2010-130 HI         | CUSIP: 31398N3D4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    212956 | PA      | $40350.45     | 0.03%             | 2040-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 303 105             | CUSIP: 31325T6C8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    274479 | PA      | $37213.52     | 0.03%             | 2043-01-15      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Aramark Services, Inc.                                          | ARMK 5 02/01/28         | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $991433.70    | 0.71%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FS KKR Capital Corp                                             | FSK 3.4 01/15/26        | CUSIP: 302635AG2<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    200000 | PA      | $198551.00    | 0.14%             | 2026-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2006-101 SA         | CUSIP: 31396LHY9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     91355 | PA      | $10223.40     | 0.01%             | 2036-10-25      | Floating      | 2.12%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 343 6               | CUSIP: 3136FA6C9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     59545 | PA      | $6221.84      | 0.00%             | 2033-10-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-28 CF          | CUSIP: 31396VKY3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1061849 | PA      | $123236.86    | 0.09%             | 2036-07-25      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 399 2               | CUSIP: 3136FKAB4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    278039 | PA      | $56501.02     | 0.04%             | 2039-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 4.134 08/04/25        | CUSIP: 345397XL2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    600000 | PA      | $599945.84    | 0.43%             | 2025-08-04      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| KeyCorp                                                         | KEY 5 PERP              | CUSIP: 493267AK4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    995000 | PA      | $982140.32    | 0.70%             | 2049-12-29      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2007-40 SW          | CUSIP: 38375KB76<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     96841 | PA      | $358.89       | 0.00%             | 2037-07-20      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4456 IA             | CUSIP: 3137BGRL5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    154836 | PA      | $25287.17     | 0.02%             | 2045-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2019-H16 CI         | CUSIP: 38380LG23<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1767357 | PA      | $68135.14     | 0.05%             | 2069-10-20      | Floating      | 2.13%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2018-58 IO          | CUSIP: 3136B2XG2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    363538 | PA      | $53315.42     | 0.04%             | 2048-08-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2016-121 JS         | CUSIP: 38380AZD2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    827408 | PA      | $103287.62    | 0.07%             | 2046-09-20      | Floating      | 1.63%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                            | ACAFP 4 3/4 PERP        | CUSIP: F2R125CJ2<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $947246.90    | 0.67%             | 2174-03-23      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3572 VS             | CUSIP: 31398JTX1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    120407 | PA      | $13093.74     | 0.01%             | 2039-09-15      | Floating      | 2.28%                 | No            |                  2 | On Loan: No      |
| Societe Generale S.A.                                           | SOCGEN 4 1/4 08/19/26   | CUSIP: 83368JKF6<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    525000 | PA      | $521554.64    | 0.37%             | 2026-08-19      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2019-6 SA           | CUSIP: 38381BG65<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    419383 | PA      | $45345.72     | 0.03%             | 2049-01-20      | Floating      | 1.58%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2012-69 QI          | CUSIP: 38378EQG1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    111776 | PA      | $11590.69     | 0.01%             | 2041-03-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2006-8 HL           | CUSIP: 31394VV64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     33092 | PA      | $3286.85      | 0.00%             | 2036-03-25      | Floating      | 2.24%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2004-106 HW         | CUSIP: 38374KJW4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     20775 | PA      | $22558.45     | 0.02%             | 2034-12-16      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia                                             | BNS 3 5/8 10/27/2081    | CUSIP: 0641598N9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    800000 | PA      | $749197.52    | 0.53%             | 2081-10-27      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 395 7               | CUSIP: 3136FGDK0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1252404 | PA      | $230863.54    | 0.16%             | 2036-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                  | C 3 7/8 PERP            | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1486175.85   | 1.06%             | 2169-05-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Light & Wonder International Inc.                               | SGMS 7 1/4 11/15/29     | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    492000 | PA      | $506257.18    | 0.36%             | 2029-11-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-55 S           | CUSIP: 31396WGR1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    565071 | PA      | $20295.90     | 0.01%             | 2037-06-25      | Floating      | 2.30%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2015-179 BI         | CUSIP: 38379TAF6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    700356 | PA      | $42145.27     | 0.03%             | 2043-08-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 291 2               | CUSIP: 31364HR41<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     41798 | PA      | $1936.86      | 0.00%             | 2027-11-25      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2012-30 CI          | CUSIP: 3136A5YA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1655075 | PA      | $166657.32    | 0.12%             | 2041-10-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 396 2               | CUSIP: 3136FGEU7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    194336 | PA      | $27253.86     | 0.02%             | 2039-06-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 4 1/8 08/17/27        | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    812000 | PA      | $791071.73    | 0.56%             | 2027-08-17      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-36 SB          | CUSIP: 38374D3E7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     85125 | PA      | $351.81       | 0.00%             | 2038-04-20      | Floating      | 1.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2016-145 UI         | CUSIP: 38380BHW8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    167532 | PA      | $29141.59     | 0.02%             | 2046-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Apidos CLO XV                                                   | APID 2013-15A DRR       | CUSIP: 03764QBL5<br>LEI: 549300HXW2GBYSKFE344 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2000770.00   | 1.43%             | 2031-04-20      | Floating      | 7.29%                 | Yes           |                  2 | On Loan: No      |
| Icg Us Clo 2021-3 Ltd / Icg Us Clo 2021-3 Llc                   | ICG 2021-3A CR          | CUSIP: 449249AW1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001408.00   | 0.71%             | 2034-10-20      | Floating      | 6.43%                 | Yes           |                  2 | On Loan: No      |
| Capital One Financial Corp.                                     | COF 3.95 PERP           | CUSIP: 14040HCF0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    848000 | PA      | $829458.81    | 0.59%             | 2169-09-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4091 TS             | CUSIP: 3137ATGE6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    115978 | PA      | $15808.45     | 0.01%             | 2042-08-15      | Floating      | 2.10%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 5007 SK             | CUSIP: 3137FVLY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    630380 | PA      | $80585.74     | 0.06%             | 2050-08-25      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| United Air Lines, Inc.                                          | UAL 4 3/8 04/15/26      | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    380000 | PA      | $377973.11    | 0.27%             | 2026-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2008-58 SE          | CUSIP: 31397LQ51<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1366131 | PA      | $127189.23    | 0.09%             | 2038-07-25      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2016-9 SA           | CUSIP: 38379TA74<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    168378 | PA      | $18150.01     | 0.01%             | 2046-01-20      | Floating      | 1.63%                 | No            |                  2 | On Loan: No      |
| Allegro CLO XV Ltd.                                             | ALLEG 2022-1A D1AR      | CUSIP: 01749WAU7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1500835.50   | 1.07%             | 2038-04-20      | Floating      | 7.33%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2003-43 IY          | CUSIP: 31393A5A1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     84664 | PA      | $11082.55     | 0.01%             | 2033-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Restaurant Brands International                                 | BCULC TL B5 1L USD      | CUSIP: C6901LAM9<br>LEI: 549300RHSHNRWI5LLA86 | Long             | LON              | CORP              | US        |    987525 | PA      | $986522.66    | 0.70%             | 2030-09-23      | Variable      | 6.11%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                | TEVA 6 3/4 03/01/28     | CUSIP: 88167AAK7<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $517208.50    | 0.37%             | 2028-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Corporation                                   | OMF 3 1/2 01/15/27      | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    135000 | PA      | $131748.71    | 0.09%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                         | VW 5.4 03/20/26         | CUSIP: 928668CE0<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    500000 | PA      | $501523.12    | 0.36%             | 2026-03-20      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-28 LS          | CUSIP: 31396VLB2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    121539 | PA      | $12699.48     | 0.01%             | 2036-01-25      | Floating      | 2.16%                 | No            |                  2 | On Loan: No      |
| Manufacturers & Traders Trust Co.                               | MTB 4.65 01/27/26       | CUSIP: 55279HAV2<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500033.88    | 0.36%             | 2026-01-27      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                    | BACR 4.836 05/09/28     | CUSIP: 06738EAW5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $501319.73    | 0.36%             | 2028-05-09      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2004-46 S           | CUSIP: 38374G6F4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    287520 | PA      | $12118.12     | 0.01%             | 2034-06-20      | Floating      | 2.63%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2013-53 OI          | CUSIP: 38378MVC6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    140274 | PA      | $17286.69     | 0.01%             | 2043-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3355 BI             | CUSIP: 31397KCA7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    161998 | PA      | $13885.25     | 0.01%             | 2037-08-15      | Floating      | 1.60%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2616 SC             | CUSIP: 31393QTR3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     33700 | PA      | $2776.10      | 0.00%             | 2032-12-15      | Floating      | 3.55%                 | No            |                  2 | On Loan: No      |
| Air Canada                                                      | ACACN 3 7/8 08/15/26    | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |   1173000 | PA      | $1159636.48   | 0.83%             | 2026-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2020-167 NS         | CUSIP: 38382LBR1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    580228 | PA      | $80583.42     | 0.06%             | 2050-11-20      | Floating      | 1.83%                 | No            |                  2 | On Loan: No      |
| Venture XV CLO Ltd.                                             | VENTR 2013-15A DR2      | CUSIP: 92328XAZ2<br>LEI: 549300UYHZCJPN3LMT03 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1989025.00   | 1.42%             | 2032-07-15      | Floating      | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Dryden Senior Loan Fnd                                          | DRSLF 2018-55A D        | CUSIP: 26245MAL5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1600000 | PA      | $1600540.80   | 1.14%             | 2031-04-15      | Floating      | 7.43%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2015-144 SA         | CUSIP: 38379QD51<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    460382 | PA      | $56324.44     | 0.04%             | 2045-10-20      | Floating      | 1.73%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2006-116 S          | CUSIP: 31396LZE3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     91561 | PA      | $8352.74      | 0.01%             | 2036-12-25      | Floating      | 2.14%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2367 SG             | CUSIP: 31339GL25<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     59096 | PA      | $5437.28      | 0.00%             | 2031-06-15      | Floating      | 3.43%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc.                                      | CZR 4 5/8 10/15/29      | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    587000 | PA      | $555108.88    | 0.40%             | 2029-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4995 KI             | CUSIP: 3137FUX25<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    925339 | PA      | $142038.42    | 0.10%             | 2043-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2003-7 SN           | CUSIP: 31392HY56<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    304385 | PA      | $37928.46     | 0.03%             | 2033-02-25      | Floating      | 3.29%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2014-38 QI          | CUSIP: 3136AKNS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    262268 | PA      | $39347.72     | 0.03%             | 2043-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Societe Generale S.A.                                           | SOCGEN 2.797 01/19/28   | CUSIP: 83368RBH4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $485686.62    | 0.35%             | 2028-01-19      | Fixed         | 2.80%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 367 116             | CUSIP: 31325XXE5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    866388 | PA      | $128173.84    | 0.09%             | 2050-06-15      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| Penn Entertainment (fka Penn National Gaming)                   | PENN TL B 1L USD        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    497442 | PA      | $499539.18    | 0.36%             | 2029-05-03      | Variable      | 6.86%                 | No            |                  2 | On Loan: No      |
| The Charles Schwab Corporation                                  | SCHW 4 PERP             | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1529731.27   | 1.09%             | 2169-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Corporation                                   | OMF 5 3/8 11/15/29      | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    250000 | PA      | $245383.28    | 0.17%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FS KKR Capital Corp                                             | FSK 3 1/8 10/12/28      | CUSIP: 302635AK3<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    243000 | PA      | $224063.85    | 0.16%             | 2028-10-12      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                               | WFC 3.9 PERP            | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $991348.21    | 0.71%             | 2169-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                | DB 6 PERP               | CUSIP: 251525AX9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   1000000 | PA      | $1000617.30   | 0.71%             | 2170-02-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2014-87 MS          | CUSIP: 3136AMKT5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    850018 | PA      | $85102.76     | 0.06%             | 2045-01-25      | Floating      | 1.79%                 | No            |                  2 | On Loan: No      |
| Brightstar Lottery PLC                                          | IGT 6 1/4 01/15/27      | CUSIP: 460599AD5<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    837000 | PA      | $844212.43    | 0.60%             | 2027-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3652 CS             | CUSIP: 31398WY40<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1638961 | PA      | $197992.73    | 0.14%             | 2040-03-15      | Floating      | 2.10%                 | No            |                  2 | On Loan: No      |
| American Airlines                                               | AAL TL B 1L USD         | CUSIP: 02376CBS3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1147125 | PA      | $1143970.41   | 0.82%             | 2028-04-20      | Variable      | 6.52%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2020-86 TK          | CUSIP: 38382GCS9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  16717798 | PA      | $83973.50     | 0.06%             | 2048-08-20      | Floating      | 0.15%                 | No            |                  2 | On Loan: No      |
| Battalion Clo Xvii Ltd/ Llc                                     | BATLN 2021-17A CR       | CUSIP: 07133PAS8<br>LEI: 549300QQUW46V6EB1N30 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000300.00   | 0.71%             | 2034-03-09      | Floating      | 6.58%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 5.3 09/13/27      | CUSIP: 65480CAG0<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    837000 | PA      | $831354.44    | 0.59%             | 2027-09-13      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                                  | BNP 4 3/8 09/28/25      | CUSIP: 05581KAA9<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1002000 | PA      | $1001113.49   | 0.71%             | 2025-09-28      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2012-68 NS          | CUSIP: 3136A7DH2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    370092 | PA      | $16301.52     | 0.01%             | 2042-03-25      | Floating      | 2.24%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 355 12              | CUSIP: 3136FCNM4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     45756 | PA      | $5444.30      | 0.00%             | 2034-07-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding XLV Ltd/Llc                                | MDPK 2020-45A CRR       | CUSIP: 55820BAW7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1502197.50   | 1.07%             | 2034-07-15      | Floating      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| Aviation Capital Group LLC                                      | ACGCAP 4 7/8 10/01/25   | CUSIP: 05367AAH6<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    650000 | PA      | $648925.94    | 0.46%             | 2025-10-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2011-11 PI          | CUSIP: 31397Q6P8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     56781 | PA      | $6438.73      | 0.00%             | 2041-03-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc.                                             | ALLY 4.7 PERP           | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1607000 | PA      | $1565078.13   | 1.12%             | 2169-08-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4340 TI             | CUSIP: 3137BAW32<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     81859 | PA      | $2892.55      | 0.00%             | 2039-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                        | LLOYDS 4.582 12/10/25   | CUSIP: G5533WBU0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $199913.35    | 0.14%             | 2025-12-10      | Fixed         | 4.58%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 378 4               | CUSIP: 3136FEMF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    571522 | PA      | $97925.34     | 0.07%             | 2036-07-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Air Canada                                                      | ACACN TL B 1L USD       | CUSIP: N/A<br>LEI: 4B4HI3CGXMBDC0G6BM51       | Long             | LON              | CORP              | US        |   1975000 | PA      | $1977468.75   | 1.41%             | 2031-03-21      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2444 TI             | CUSIP: 31392KWY8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     52532 | PA      | $6066.40      | 0.00%             | 2032-05-15      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| United Airlines                                                 | UAL TL B 1L USD         | CUSIP: 90932RAP9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1657412 | PA      | $1665906.30   | 1.19%             | 2031-02-24      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-15 CI          | CUSIP: 383742RH8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    862167 | PA      | $19861.74     | 0.01%             | 2038-02-20      | Floating      | 2.02%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2010-113 BS         | CUSIP: 38377J3U5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     60902 | PA      | $6999.29      | 0.00%             | 2040-09-20      | Floating      | 1.53%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2950 SN             | CUSIP: 31395PXS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    207324 | PA      | $10079.15     | 0.01%             | 2035-03-15      | Floating      | 1.60%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 385 3               | CUSIP: 3136FEV74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    332939 | PA      | $51680.59     | 0.04%             | 2038-01-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2463 SB             | CUSIP: 31392MTM4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    146408 | PA      | $13199.09     | 0.01%             | 2032-06-15      | Floating      | 3.55%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3368 AI             | CUSIP: 31397KL90<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    155876 | PA      | $14663.23     | 0.01%             | 2037-09-15      | Floating      | 1.58%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Company  Inc                           | GM 5.7 PERP             | CUSIP: 37045XDB9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1295000 | PA      | $1268380.76   | 0.90%             | 2069-03-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2018-54 SA          | CUSIP: 3136B2XW7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2339578 | PA      | $217439.25    | 0.15%             | 2048-08-25      | Floating      | 1.79%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                  | BNP 4 5/8 PERP          | CUSIP: 05565AB28<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2270000 | PA      | $2229640.99   | 1.59%             | 2177-01-12      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 2 03/09/26        | CUSIP: U65478BU9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    723000 | PA      | $709362.82    | 0.51%             | 2026-03-09      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2004-70 XJ          | CUSIP: 31394A4U7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    190643 | PA      | $25966.00     | 0.02%             | 2034-10-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Synchrony Financial                                             | SYF 3.7 08/04/26        | CUSIP: 87165BAL7<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247510.31    | 0.18%             | 2026-08-04      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2017-87 KI          | CUSIP: 3136AYZ97<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    188376 | PA      | $24589.27     | 0.02%             | 2041-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc.                               | PNC 3.4 PERP            | CUSIP: 693475BC8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    625000 | PA      | $602930.06    | 0.43%             | 2172-12-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2009-66 SH          | CUSIP: 31396QR50<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    223424 | PA      | $12845.58     | 0.01%             | 2039-09-25      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 346 2               | CUSIP: 3136FCBD7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     71873 | PA      | $11274.65     | 0.01%             | 2033-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-6 SD           | CUSIP: 383742HQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     67387 | PA      | $306.67       | 0.00%             | 2038-02-20      | Floating      | 1.99%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2015-36 MI          | CUSIP: 38379JA50<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    244132 | PA      | $37602.92     | 0.03%             | 2045-03-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corp.                               | BK 3.7 PERP             | CUSIP: 064058AJ9<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   1669000 | PA      | $1653605.48   | 1.18%             | 2170-03-20      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3117 JS             | CUSIP: 31396HV30<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     39838 | PA      | $3909.23      | 0.00%             | 2036-02-15      | Floating      | 2.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2011-122 DS         | CUSIP: 3136A2YT4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1199168 | PA      | $169181.65    | 0.12%             | 2041-12-25      | Floating      | 2.06%                 | No            |                  2 | On Loan: No      |
| Aramark                                                         | ARMK TL B8 1L USD       | CUSIP: 03852JAV3<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | LON              | CORP              | US        |   1443750 | PA      | $1447749.19   | 1.03%             | 2030-06-24      | Variable      | 6.31%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc.                                             | ALLY 5 3/4 11/20/25     | CUSIP: 02005NBF6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500704.75    | 0.36%             | 2025-11-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-2 SM           | CUSIP: 38374DPK9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    114612 | PA      | $10301.68     | 0.01%             | 2038-01-16      | Floating      | 2.05%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                    | BACR 5.304 08/09/26     | CUSIP: 06738EBZ7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $249999.50    | 0.18%             | 2026-08-09      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-18 BF          | CUSIP: 31395B7M9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1047941 | PA      | $101419.30    | 0.07%             | 2036-04-25      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2019-41 SB          | CUSIP: 3136B5SN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    351515 | PA      | $40505.55     | 0.03%             | 2049-08-25      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| GLP Capital L.P. and GLP Financing II, Inc.                     | GLPI 5 3/8 04/15/26     | CUSIP: 361841AH2<br>LEI: 2549005PXW31DRW8EC44 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1251141.25   | 0.89%             | 2026-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 409 C18             | CUSIP: 3136FLFM3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    299581 | PA      | $55875.62     | 0.04%             | 2042-04-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-27 SI          | CUSIP: 38374DSX8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    103901 | PA      | $2237.04      | 0.00%             | 2038-03-20      | Floating      | 2.00%                 | No            |                  2 | On Loan: No      |
| Sempra                                                          | SRE 4 1/8 04/01/52      | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    170000 | PA      | $164628.78    | 0.12%             | 2052-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 238 8               | CUSIP: 31282YJZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    202604 | PA      | $32532.97     | 0.02%             | 2036-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-51 SC          | CUSIP: 38375QU31<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    104865 | PA      | $6925.70      | 0.00%             | 2038-06-20      | Floating      | 1.78%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-109 DI         | CUSIP: 31396XZ64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    147436 | PA      | $16885.77     | 0.01%             | 2037-12-25      | Floating      | 1.94%                 | No            |                  2 | On Loan: No      |
| CMS Energy Corporation                                          | CMS 4 3/4 06/01/50      | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $964544.30    | 0.69%             | 2050-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 365 4               | CUSIP: 3136FCZD1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    398167 | PA      | $58683.13     | 0.04%             | 2036-04-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ZAIS CLO 18 LTD                                                 | ZAIS 2022-18A D1        | CUSIP: 98885NAL7<br>LEI: 549300PRQCSTFU7VEI08 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $996121.00    | 0.71%             | 2035-01-25      | Floating      | 8.99%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 370 2               | CUSIP: 3136FEAB8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     63464 | PA      | $12312.05     | 0.01%             | 2036-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 5086 HI             | CUSIP: 3137FFGG6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    799245 | PA      | $175261.33    | 0.12%             | 2051-03-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| M&T Bank Corporation                                            | MTB 3 1/2 PERP          | CUSIP: 55261FAN4<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   1172000 | PA      | $1129496.83   | 0.80%             | 2173-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2018-154 IT         | CUSIP: 38381AWW2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    236409 | PA      | $43379.66     | 0.03%             | 2048-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 4.542 08/01/26        | CUSIP: 345397ZW6<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $495878.00    | 0.35%             | 2026-08-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 5112 IB             | CUSIP: 3137H0R91<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    619812 | PA      | $68463.70     | 0.05%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2013-103 JS         | CUSIP: 3136AGNX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    230353 | PA      | $21606.93     | 0.02%             | 2043-10-25      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2016-39 LS          | CUSIP: 3136ASU38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    355012 | PA      | $39687.52     | 0.03%             | 2046-07-25      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2802 SI             | CUSIP: 31394YQF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    422231 | PA      | $29715.54     | 0.02%             | 2034-05-15      | Floating      | 1.55%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 221 IO              | CUSIP: 31282YDE6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     73469 | PA      | $10956.38     | 0.01%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2017-99 DI          | CUSIP: 38380F5B8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    186395 | PA      | $7861.15      | 0.01%             | 2045-07-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2009-112 ST         | CUSIP: 31398GKH1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     73876 | PA      | $7160.60      | 0.01%             | 2040-01-25      | Floating      | 1.79%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-51 SE          | CUSIP: 38375QV30<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    131283 | PA      | $9144.46      | 0.01%             | 2038-06-16      | Floating      | 1.80%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4583 TI             | CUSIP: 3137BPDK2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   6440606 | PA      | $16650.26     | 0.01%             | 2046-05-15      | Floating      | 0.10%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust 2006-Hy12                                | CWALT 2007-J1 3A2       | CUSIP: 02149MCJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     43381 | PA      | $40407.92     | 0.03%             | 2036-11-25      | Floating      | 4.11%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2013-170 ID         | CUSIP: 38378U7B7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    315777 | PA      | $24362.93     | 0.02%             | 2040-02-20      | Floating      | 3.12%                 | No            |                  2 | On Loan: No      |
| Vici Properties Inc                                             | VICI 4 1/4 12/01/26     | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $496000.47    | 0.35%             | 2026-12-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| PENN Entertainment Inc                                          | PENN 5 5/8 01/15/27     | CUSIP: 707569AS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1134000 | PA      | $1128792.67   | 0.80%             | 2027-01-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4471 JI             | CUSIP: 3137BJH22<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    328594 | PA      | $55306.35     | 0.04%             | 2043-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2012-103 TI         | CUSIP: 3136A8ZQ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1126315 | PA      | $184775.91    | 0.13%             | 2042-09-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2006-125 SM         | CUSIP: 31396PDC2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     39318 | PA      | $4176.71      | 0.00%             | 2037-01-25      | Floating      | 2.74%                 | No            |                  2 | On Loan: No      |
| Carnival Corporation                                            | CCL 4 08/01/28          | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1000000 | PA      | $971875.00    | 0.69%             | 2028-08-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Brightstar Lottery PLC                                          | IGT 5 1/4 01/15/29      | CUSIP: 460599AE3<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $495403.35    | 0.35%             | 2029-01-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4291 MS             | CUSIP: 3137B7AC3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    201211 | PA      | $19683.53     | 0.01%             | 2054-01-15      | Floating      | 1.45%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group Inc                                    | CFG 4 PERP              | CUSIP: 174610BD6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   1051000 | PA      | $1024187.52   | 0.73%             | 2171-10-06      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2010-139 SA         | CUSIP: 31398SWY5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    289947 | PA      | $29841.05     | 0.02%             | 2040-12-25      | Floating      | 1.57%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2011-148 SN         | CUSIP: 38378AQF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    268566 | PA      | $34596.33     | 0.02%             | 2041-11-16      | Floating      | 2.24%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2016-4 SM           | CUSIP: 38379TU80<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    394807 | PA      | $31221.59     | 0.02%             | 2046-01-20      | Floating      | 1.18%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 5136 IJ             | CUSIP: 3137H1QP4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    485142 | PA      | $57718.18     | 0.04%             | 2051-02-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Athene Global Funding                                           | ATH 2.95 11/12/26       | CUSIP: 04685A2K6<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244819.12    | 0.17%             | 2026-11-12      | Fixed         | 2.95%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2014-58 SA          | CUSIP: 38379BRL4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    161057 | PA      | $17482.71     | 0.01%             | 2044-04-20      | Floating      | 1.63%                 | No            |                  2 | On Loan: No      |
| Penske Automotive Group, Inc.                                   | PAG 3 1/2 09/01/25      | CUSIP: 70959WAJ2<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |   1605000 | PA      | $1602004.59   | 1.14%             | 2025-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Univision Communications Inc.                                   | UVN 4 1/2 05/01/29      | CUSIP: 914906AV4<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    300000 | PA      | $277876.05    | 0.20%             | 2029-05-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 2.7 08/10/26          | CUSIP: 345397B77<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    375000 | PA      | $365699.82    | 0.26%             | 2026-08-10      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4451 DI             | CUSIP: 3137BHBX4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    110826 | PA      | $2853.75      | 0.00%             | 2039-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 371 2               | CUSIP: 3136FCP75<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    428012 | PA      | $81607.40     | 0.06%             | 2036-07-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Ozlm XXIV Ltd.                                                  | OZLM 2019-24A C2        | CUSIP: 67113DAS3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2150000 | PA      | $2115553.13   | 1.51%             | 2032-07-20      | Floating      | 8.85%                 | Yes           |                  2 | On Loan: No      |
| Boyd Gaming Corporation                                         | BYD 4 3/4 12/01/27      | CUSIP: 103304BU4<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    577000 | PA      | $572795.34    | 0.41%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2018-74 MI          | CUSIP: 3136B3JA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     98860 | PA      | $19374.82     | 0.01%             | 2048-10-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD          | FHR 3055 MS             | CUSIP: 31396CVS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    568573 | PA      | $60352.73     | 0.04%             | 2035-10-15      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 324 C24             | CUSIP: 31325VBU7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    988512 | PA      | $209772.21    | 0.15%             | 2043-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                | TEVA 3.15 10/01/26      | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1113000 | PA      | $1089293.87   | 0.78%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-36 SN          | CUSIP: 31396VQY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    159266 | PA      | $15555.35     | 0.01%             | 2037-04-25      | Floating      | 2.31%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 408 C4              | CUSIP: 3136FG6H5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    792494 | PA      | $140739.28    | 0.10%             | 2040-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-106 SN         | CUSIP: 31396XD92<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     68328 | PA      | $6412.88      | 0.00%             | 2037-11-25      | Floating      | 1.95%                 | No            |                  2 | On Loan: No      |
| WIND RIVER CLOLTD 2021-3                                        | WINDR 2021-3A D1AR      | CUSIP: 97316DAW6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1979904.00   | 1.41%             | 2038-04-20      | Floating      | 7.33%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 377 2               | CUSIP: 3136FC5N2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    106534 | PA      | $17859.11     | 0.01%             | 2036-10-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bcap Llc Tr 07-Aa2                                              | BCAP 2007-AA2 21IO      | CUSIP: 05530NBF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1709321 | PA      | $18636.04     | 0.01%             | 2037-04-25      | Floating      | 0.42%                 | No            |                  2 | On Loan: No      |
| ILFC E-Capital Trust I                                          | AER Float 12/21/65      | CUSIP: 44965TAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $419352.85    | 0.30%             | 2065-12-21      | Floating      | 6.43%                 | Yes           |                  2 | On Loan: No      |
| Light & Wonder International Inc.                               | SGMS 7 05/15/28         | CUSIP: 80874YBC3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500840.00    | 0.36%             | 2028-05-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 5174 NI             | CUSIP: 3137H4MG2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    883029 | PA      | $154328.55    | 0.11%             | 2051-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2010-89 AI          | CUSIP: 31398TPA3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   3976879 | PA      | $12671.93     | 0.01%             | 2038-02-25      | Floating      | 0.15%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3303 SG             | CUSIP: 31397GQ29<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    170826 | PA      | $14899.68     | 0.01%             | 2037-04-15      | Floating      | 1.65%                 | No            |                  2 | On Loan: No      |
| Southern Co.                                                    | SO 3 3/4 09/15/51       | CUSIP: 842587DJ3<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1232026.00   | 0.88%             | 2051-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2018-8 IO           | CUSIP: 38380UPT4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    271174 | PA      | $53075.57     | 0.04%             | 2048-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-95 DS          | CUSIP: 38375DYP7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     51385 | PA      | $598.87       | 0.00%             | 2038-12-20      | Floating      | 2.83%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2010-133 SB         | CUSIP: 38377MHU3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    954778 | PA      | $109279.56    | 0.08%             | 2040-10-16      | Floating      | 1.57%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3758 S              | CUSIP: 3137A3G45<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    126197 | PA      | $10548.98     | 0.01%             | 2040-11-15      | Floating      | 1.58%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                              | ET 6 1/2 PERP           | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   4046000 | PA      | $4063643.27   | 2.90%             | 2169-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Bain Capital Specialty Finance Inc                              | BCSF 2.95 03/10/26      | CUSIP: 05684BAB3<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |   2098000 | PA      | $2067618.65   | 1.47%             | 2026-03-10      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2014-146 EI         | CUSIP: 38379GTZ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1205584 | PA      | $253939.91    | 0.18%             | 2044-10-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KKR CLO 27 Ltd./ KKR CLO 27 LLC                                 | KKR 27A D1R2            | CUSIP: 48253YBU1<br>LEI: 5493007WGG1LNIZXEI24 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1992812.00   | 1.42%             | 2035-01-15      | Floating      | 7.22%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2009-43 SA          | CUSIP: 38374UF97<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     88366 | PA      | $3622.88      | 0.00%             | 2039-06-20      | Floating      | 1.48%                 | No            |                  2 | On Loan: No      |
| Electricite de France SA                                        | EDF 9 1/8 PERP          | CUSIP: 28504KAA5<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |   2000000 | PA      | $2296720.00   | 1.64%             | 2173-06-15      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2524 SX             | CUSIP: 31392XY85<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     19899 | PA      | $1875.58      | 0.00%             | 2032-11-15      | Floating      | 3.45%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                       | GS 3.65 PERP            | CUSIP: 38144GAG6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1353603.91   | 0.96%             | 2170-08-10      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4583 ST             | CUSIP: 3137BPDJ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    198570 | PA      | $20238.45     | 0.01%             | 2046-05-15      | Floating      | 1.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2015-64 SG          | CUSIP: 38379PD95<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    400614 | PA      | $36554.41     | 0.03%             | 2045-05-20      | Floating      | 1.13%                 | No            |                  2 | On Loan: No      |
| Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation | IEP 6 1/4 05/15/26      | CUSIP: 451102BT3<br>LEI: 549300T0G4GS0SINS786 | Long             | DBT              | CORP              | US        |   1130000 | PA      | $1123599.00   | 0.80%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2012-89 SA          | CUSIP: 3136A7U91<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    638988 | PA      | $49470.04     | 0.04%             | 2042-08-25      | Floating      | 1.09%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 4.95 05/28/27         | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    300000 | PA      | $297579.48    | 0.21%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 2.45 09/15/28     | CUSIP: 65480CAD7<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    535000 | PA      | $483819.00    | 0.34%             | 2028-09-15      | Fixed         | 2.45%                 | Yes           |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                | TEVA 4 3/4 05/09/27     | CUSIP: 88167AAP6<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1800000 | PA      | $1788948.18   | 1.27%             | 2027-05-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2019-22 SA          | CUSIP: 38381RDX4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    464706 | PA      | $41045.44     | 0.03%             | 2045-02-20      | Floating      | 1.13%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2014-68 IB          | CUSIP: 3136ALRF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     70825 | PA      | $7591.19      | 0.01%             | 2043-02-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2014-91 SB          | CUSIP: 38379CPE0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    275629 | PA      | $20956.94     | 0.01%             | 2044-06-16      | Floating      | 1.15%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 2 3/4 03/09/28    | CUSIP: 654740BT5<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |   1205000 | PA      | $1120702.89   | 0.80%             | 2028-03-09      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Chicago Board of Trade                                          | US 10YR NOTE (CBT)Sep25 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DIR              | CORP              | US        |        15 | NC      | $7968.75      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Station Casinos LLC                                             | RRR 4 1/2 02/15/28      | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1273466.48   | 0.91%             | 2028-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| First Citizens BancShares Inc (Delaware)                        | FCNCA FLOAT PERP        | CUSIP: 31959XAA1<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1039701.00   | 0.74%             | 2170-06-15      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2020-47 MI          | CUSIP: 38382EDP9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1228320 | PA      | $236665.00    | 0.17%             | 2050-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                            | RY 8 1/2 02/28/39       | CUSIP: 78014RTB6<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    352000 | PA      | $359015.04    | 0.26%             | 2039-02-28      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MKS INC                                                         | MKSI TL B 1L USD        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1060885 | PA      | $1062608.61   | 0.76%             | 2029-08-17      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3239 SI             | CUSIP: 31397CW39<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     75650 | PA      | $7899.92      | 0.01%             | 2036-11-15      | Floating      | 2.20%                 | No            |                  2 | On Loan: No      |
| OSD CLO 2021-23 Ltd                                             | OCP 2021-23A CR         | CUSIP: 671026AQ5<br>LEI: 2549004IE8HHQL34D058 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000508.00   | 0.71%             | 2037-01-17      | Floating      | 6.02%                 | Yes           |                  2 | On Loan: No      |
| Blackstone Secured Lending Fund                                 | BXSL 3 5/8 01/15/26     | CUSIP: 09261LAC2<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    600000 | PA      | $596154.35    | 0.42%             | 2026-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-72 EK          | CUSIP: 31396WQH2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     67786 | PA      | $6946.54      | 0.00%             | 2037-07-25      | Floating      | 1.94%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-88 MI          | CUSIP: 31396XUW2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    487898 | PA      | $32528.30     | 0.02%             | 2037-09-25      | Floating      | 2.06%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 383 20              | CUSIP: 3136FFNR6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     67003 | PA      | $10477.69     | 0.01%             | 2037-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 3 3/8 11/13/25        | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1083000 | PA      | $1077685.38   | 0.77%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2020-10 S           | CUSIP: 3136B9AZ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    960766 | PA      | $108036.19    | 0.08%             | 2059-05-25      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2015-33 OI          | CUSIP: 3136APCS9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    169953 | PA      | $19090.14     | 0.01%             | 2045-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 247 24              | CUSIP: 3128HUFQ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    328186 | PA      | $48091.73     | 0.03%             | 2036-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DRYDEN 109 CLO LTD                                              | DRSLF 2022-109A BR      | CUSIP: 26248KAN2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | PA      | $1505476.50   | 1.07%             | 2038-04-15      | Floating      | 5.89%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2013-5 BI           | CUSIP: 38378FPP9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    103438 | PA      | $16262.50     | 0.01%             | 2043-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-66 AS          | CUSIP: 31396WXT8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     70726 | PA      | $6137.17      | 0.00%             | 2037-07-25      | Floating      | 2.14%                 | No            |                  2 | On Loan: No      |
| FS KKR Capital Corp                                             | FSK 3 1/4 07/15/27      | CUSIP: 302635AL1<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    625000 | PA      | $600490.69    | 0.43%             | 2027-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Centerpoint Energy Inc                                          | CNP 7 02/15/55          | CUSIP: 15189TBH9<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   1110000 | PA      | $1161026.70   | 0.83%             | 2055-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 407 40              | CUSIP: 3136FG4X2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    370869 | PA      | $72355.59     | 0.05%             | 2038-01-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2016-84 IG          | CUSIP: 38379XGR5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    269145 | PA      | $52903.00     | 0.04%             | 2045-11-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3935 SH             | CUSIP: 3137AGTF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    277898 | PA      | $4162.42      | 0.00%             | 2040-12-15      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2005-89 S           | CUSIP: 31394FUZ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     80817 | PA      | $6436.86      | 0.00%             | 2035-10-25      | Floating      | 2.24%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                          | US LONG BOND(CBT) Sep25 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DIR              | CORP              | US        |        15 | NC      | $25781.25     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2013-4 ID           | CUSIP: 38378FNU0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    899572 | PA      | $162088.16    | 0.12%             | 2042-05-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VICI Properties 2 L.P.                                          | MGMGPO 5 3/4 02/01/27   | CUSIP: 55303XAJ4<br>LEI: 549300U6G4UOCMLQK204 | Long             | DBT              | CORP              | US        |    166000 | PA      | $167782.71    | 0.12%             | 2027-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2005-87 SE          | CUSIP: 31394FV69<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     47125 | PA      | $3746.62      | 0.00%             | 2035-10-25      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2016-27 IA          | CUSIP: 38379VUJ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     64250 | PA      | $8433.50      | 0.01%             | 2045-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KeyBank National Association                                    | KEY 6.95 02/01/28       | CUSIP: 49306CAB7<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1050820.08   | 0.75%             | 2028-02-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2021-78 QI          | CUSIP: 38382TBW3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    438688 | PA      | $36190.38     | 0.03%             | 2034-05-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2006-8 WN           | CUSIP: 31394VX47<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     15778 | PA      | $1436.05      | 0.00%             | 2036-03-25      | Floating      | 2.24%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners 32 Ltd.                             | OCT32 2017-1A A2R3      | CUSIP: 67573CAU3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000560.00   | 0.71%             | 2037-10-31      | Floating      | 5.92%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2012-126 IO         | CUSIP: 38378H3E4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    750635 | PA      | $105271.30    | 0.08%             | 2042-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2011-96 SA          | CUSIP: 3136A1QW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    278377 | PA      | $21887.51     | 0.02%             | 2041-10-25      | Floating      | 2.09%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2016-81 IM          | CUSIP: 38379YPT9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     55013 | PA      | $2964.69      | 0.00%             | 2044-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Aramark                                                         | ARMK TL B7 1L USD       | CUSIP: 03852JAU5<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | LON              | CORP              | US        |    876858 | PA      | $879418.04    | 0.63%             | 2028-04-06      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                                       | CZR TL B1 1L USD        | CUSIP: 12768EAH9<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |   1984975 | PA      | $1985222.87   | 1.41%             | 2031-02-06      | Variable      | 6.61%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp                                                | DUK 3 1/4 01/15/2082    | CUSIP: 26441CBP9<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    572000 | PA      | $550123.46    | 0.39%             | 2082-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Light & Wonder (Scientific Games)                               | LNW TL B 1L USD         | CUSIP: 80875AAW1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | LON              | CORP              | US        |    988167 | PA      | $991625.68    | 0.71%             | 2029-04-16      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2001-32 SA          | CUSIP: 313920FS4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     38733 | PA      | $2059.73      | 0.00%             | 2031-07-25      | Floating      | 3.49%                 | No            |                  2 | On Loan: No      |
| Ares Capital Corp.                                              | ARCC 5 1/2 09/01/30     | CUSIP: 04010LBK8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    750000 | PA      | $748999.73    | 0.53%             | 2030-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 365 C10             | CUSIP: 31325XUV0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    525968 | PA      | $107284.25    | 0.08%             | 2049-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Great American Outdoors (Bass Pro Shops)                        | BASSPR TL B 1L USD      | CUSIP: 07014QAP6<br>LEI: 549300IYLDI2E8I2AU46 | Long             | LON              | CORP              | US        |   1942472 | PA      | $1946842.22   | 1.39%             | 2032-01-16      | Variable      | 7.61%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 365 121             | CUSIP: 31325XKX7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    564361 | PA      | $79659.23     | 0.06%             | 2047-10-15      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 384 28              | CUSIP: 3136FEU42<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    109128 | PA      | $17865.37     | 0.01%             | 2036-05-25      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                  | C 4.15 PERP             | CUSIP: 172967NB3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1698000 | PA      | $1659876.84   | 1.18%             | 2170-02-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Dryden 37 Senior Loan Fund                                      | DRSLF 2015-37A ER       | CUSIP: 26249MAW7<br>LEI: 254900I0IPNA482LDS44 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1399963.50   | 1.00%             | 2031-01-15      | Floating      | 9.73%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2012-77 DI          | CUSIP: 38375GAJ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    202887 | PA      | $7938.36      | 0.01%             | 2041-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2017-68 CI          | CUSIP: 38376UT82<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    150629 | PA      | $28076.73     | 0.02%             | 2047-05-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                          | US 5YR NOTE (CBT) Sep25 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DIR              | CORP              | US        |        15 | NC      | $2695.32      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-28

**Name of Applicant:** Two Roads Shared Trust

**Signature:** Laura Szalyga

**Name of Signer:** Laura Szalyga

**Title:** Treasurer