# EDGAR Filing Document

**Accession Number:** 0000356476
**File Stem:** 0001193125-26-050260
**Filing Date:** 2026-2
**Character Count:** 132658
**Document Hash:** a8776b12784bc10a7164981de351d17a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-050260.hdr.sgml**: 20260213

**ACCESSION NUMBER**: 0001193125-26-050260

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260213

**DATE AS OF CHANGE**: 20260213

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EMPOWER FUNDS, INC.
- **CENTRAL INDEX KEY:** 0000356476

**ORGANIZATION NAME:**
- **EIN:** 840876044
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03364
- **FILM NUMBER:** 26629790

**BUSINESS ADDRESS:**
- **STREET 1:** 8515 E ORCHARD ROAD
- **CITY:** GREENWOOD VILLAGE
- **STATE:** CO
- **ZIP:** 80111
- **BUSINESS PHONE:** 303-737-3000

**MAIL ADDRESS:**
- **STREET 1:** 8515 E ORCHARD ROAD
- **CITY:** GREENWOOD VILLAGE
- **STATE:** CO
- **ZIP:** 80111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GREAT-WEST FUNDS INC
- **DATE OF NAME CHANGE:** 20121005

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MAXIM SERIES FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Empower Inflation-Protected Securities Fund (Series ID: S000059775)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000195600 | Institutional Class | MXIOX           |
| C000195601 | Investor Class      | MXIHX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** EMPOWER FUNDS, INC.

- **b. Investment Company Act file number:** 811-03364

- **c. CIK number of Registrant:** 0000356476

- **d. LEI of Registrant:** RUYOMHMDMSPQ01U66388

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

  - **Street Address 1:** 8515 E Orchard Road

  - **City:** Greenwood Village

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80111

  - **Telephone number:** 866-831-7129

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

- **a. Name of Series:** Empower Inflation-Protected Securities Fund

- **b. EDGAR series identifier (if any):** S000059775

- **c. LEI of Series:** 5493005A8YM8S6RG0K54

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $531109054.69

**Total Liabilities:** $21546061.74

**Net Assets:** $509562992.95

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 409.204773665098 | **1-Year:** 8953.879941238971 | **5-Year:** 21325.874199556513 | **10-Year:** 31038.470153903287 | **30-Year:** 2573.067439568660

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

- **3-Month:** 3.265504818503 | **1-Year:** 244.462430206094 | **5-Year:** 560.515658919986 | **10-Year:** 8.671076113882 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000195600 | 0.00%                | 0.43%                | -0.21%               |
| Class ID C000195601 | 0.00%                | 0.42%                | -0.22%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3784680.17              | $-1952203.28                               |
| Month 2  | $4335500.34              | $-16277.34                                 |
| Month 3  | $4508031.69              | $-2863342.60                               |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **Index Identifier:** 5493005A8YM8S6RG0K54

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Dreyfus Instl Resv                                                                  | Dreyfus Instl Resv PFD GOVT INSTL | CUSIP: 26200X100<br>LEI: 549300FG0OZ5YKPLK622 | Long             | STIV             | RF                | US        |    230920 | PA      | $230920.05    | 0.05%             | 2026-01-01      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK NA                                                             | JP MORGAN CHASE BANK NA           | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | Long             | DIR              | CORP              | N/A       |     74912 | OU      | $53984.62     | 0.01%             | 2036-08-31      | Fixed         | 3.83%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO BANK NA                                                                 | WELLS FARGO BANK NA               | CUSIP: N/A<br>LEI: KB1H1DSPRFMYMCUFXT09       | Long             | DIR              | CORP              | N/A       |    486479 | OU      | $-730270.53   | -0.14%            | 2031-08-31      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK NA                                                             | JP MORGAN CHASE BANK NA           | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | Long             | DIR              | CORP              | N/A       |      6877 | OU      | $-73618.17    | -0.01%            | 2031-08-31      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK NA                                                             | JP MORGAN CHASE BANK NA           | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | Long             | DIR              | CORP              | N/A       |      8733 | OU      | $-39263.96    | -0.01%            | 2028-06-23      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK NA                                                             | JP MORGAN CHASE BANK NA           | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | Long             | DIR              | CORP              | N/A       |         0 | OU      | $89439.91     | 0.02%             | 2030-06-23      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK NA                                                             | JP MORGAN CHASE BANK NA           | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | Long             | DIR              | CORP              | N/A       |     15475 | OU      | $-3699.82     | -0.00%            | 2027-08-31      | Fixed         | 3.17%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                                 | Societe Generale SA               | CUSIP: N/A<br>LEI: O2RNE8IBXP4R0TD8PU41       | Long             | DIR              | CORP              | N/A       |      2013 | OU      | $-6619.75     | -0.00%            | 2032-05-21      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                      | MORGAN STANLEY                    | CUSIP: N/A<br>LEI: IGJSJL3JD5P30I6NJZ34       | Long             | DIR              | CORP              | N/A       |      7481 | OU      | $7773.13      | 0.00%             | 2029-03-18      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK NA                                                             | JP MORGAN CHASE BANK NA           | CUSIP: N/A<br>LEI: 7H6GLXDRUGQFU57RNE97       | Long             | DIR              | CORP              | N/A       |      4934 | OU      | $-21703.20    | -0.00%            | 2035-06-24      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                      | MORGAN STANLEY                    | CUSIP: N/A<br>LEI: IGJSJL3JD5P30I6NJZ34       | Long             | DIR              | CORP              | N/A       |     25130 | OU      | $-369708.38   | -0.07%            | 2040-10-09      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                                 | Societe Generale SA               | CUSIP: N/A<br>LEI: O2RNE8IBXP4R0TD8PU41       | Long             | DIR              | CORP              | N/A       |      4009 | OU      | $21221.18     | 0.00%             | 2055-05-21      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                      | MORGAN STANLEY                    | CUSIP: N/A<br>LEI: IGJSJL3JD5P30I6NJZ34       | Long             | DIR              | CORP              | N/A       |     21411 | OU      | $412607.61    | 0.08%             | 2032-10-10      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                      | MORGAN STANLEY                    | CUSIP: N/A<br>LEI: IGJSJL3JD5P30I6NJZ34       | Long             | DIR              | CORP              | N/A       |     42456 | OU      | $-105378.15   | -0.02%            | 2028-10-07      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO BANK NA                                                                 | WELLS FARGO BANK NA               | CUSIP: N/A<br>LEI: KB1H1DSPRFMYMCUFXT09       | Long             | DIR              | CORP              | N/A       |         0 | OU      | $-37562.27    | -0.01%            | 2030-07-15      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES INC                                                            | JP MORGAN SECURITIES INC          | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | DIR              | CORP              | N/A       |     47937 | OU      | $225409.77    | 0.04%             | 2027-12-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO BANK NA                                                                 | WELLS FARGO BANK NA               | CUSIP: N/A<br>LEI: KB1H1DSPRFMYMCUFXT09       | Long             | DIR              | CORP              | N/A       |    681437 | OU      | $-454434.45   | -0.09%            | 2040-07-16      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO BANK NA                                                                 | WELLS FARGO BANK NA               | CUSIP: N/A<br>LEI: KB1H1DSPRFMYMCUFXT09       | Long             | DIR              | CORP              | N/A       |     30823 | OU      | $115263.04    | 0.02%             | 2027-08-31      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES INC                                                            | JP MORGAN SECURITIES INC          | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | DIR              | CORP              | N/A       |    448277 | OU      | $268282.27    | 0.05%             | 2032-05-21      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO BANK NA                                                                 | WELLS FARGO BANK NA               | CUSIP: N/A<br>LEI: KB1H1DSPRFMYMCUFXT09       | Long             | DIR              | CORP              | N/A       |      2155 | OU      | $235054.16    | 0.05%             | 2036-08-31      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK INTL                                                                  | RCV 0.00 PAY 0.00 12/12/2029      | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | DIR              |  | US        |    256112 | OU      | $88764.75     | 0.02%             | 2029-12-12      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE                                                                     | RCV 0.00 PAY 0.00 07/19/2028      | CUSIP: N/A<br>LEI: 969500TJ5KRTCJQWXH05       | Long             | DIR              |  | US        |    236861 | OU      | $745348.74    | 0.15%             | 2028-07-19      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK N.A. NEW YORK                                                              | RCV 0.00 PAY 0.00 06/23/2026      | CUSIP: N/A<br>LEI: E57ODZWZ7FF32TWEFA76       | Long             | DIR              |  | US        |         0 | OU      | $-70860.19    | -0.01%            | 2026-06-23      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                      | RCV 0.00 PAY 0.00 11/28/2032      | CUSIP: N/A<br>LEI: IGJSJL3JD5P30I6NJZ34       | Long             | DIR              |  | US        |    181818 | OU      | $19921.17     | 0.00%             | 2032-11-28      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK N.A. NEW YORK                                                              | RCV 0.00 PAY 0.00 09/23/2030      | CUSIP: N/A<br>LEI: E57ODZWZ7FF32TWEFA76       | Long             | DIR              |  | US        |         0 | OU      | $-390565.24   | -0.08%            | 2030-09-23      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK INTL                                                                  | BARCLAYS BANK INTL                | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | DIR              | CORP              | N/A       |         0 | OU      | $-29175.00    | -0.01%            | 2033-03-18      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES INC                                                            | JP MORGAN SECURITIES INC          | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | DIR              | CORP              | N/A       |         0 | OU      | $-275358.75   | -0.05%            | 2030-06-23      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                                         | BNP PARIBAS                       | CUSIP: N/A<br>LEI: RCNB6OTYUAMMP879YW96       | Long             | DIR              | CORP              | N/A       |         0 | OU      | $-203328.10   | -0.04%            | 2031-01-30      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES INC                                                            | JP MORGAN SECURITIES INC          | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | DIR              | CORP              | N/A       |    799061 | OU      | $303561.67    | 0.06%             | 2028-06-23      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES INC                                                            | JP MORGAN SECURITIES INC          | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | Long             | DIR              | CORP              | N/A       |    671744 | OU      | $-21508.69    | -0.00%            | 2035-06-24      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO BANK NA                                                                 | WELLS FARGO BANK NA               | CUSIP: N/A<br>LEI: KB1H1DSPRFMYMCUFXT09       | Long             | DIR              | CORP              | N/A       |     63823 | OU      | $1085062.85   | 0.21%             | 2055-07-17      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                      | MORGAN STANLEY                    | CUSIP: N/A<br>LEI: IGJSJL3JD5P30I6NJZ34       | Long             | DIR              | CORP              | N/A       |    184118 | OU      | $375591.82    | 0.07%             | 2056-01-30      | Fixed         | 3.83%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK                                                                       | DEUTSCHE BANK                     | CUSIP: N/A<br>LEI: 9J6MBOOO7BECTDTUZW19       | Long             | DIR              | CORP              | N/A       |     95538 | OU      | $464841.36    | 0.09%             | 2055-05-21      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                         | ABBV 3.2 11/21/29                 | CUSIP: 00287YBX6<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    166000 | NS      | $160982.80    | 0.03%             | 2029-11-21      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Air Lease Corporation                                                               | AL 2.875 01/15/26 MTN             | CUSIP: 00914AAJ1<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    375000 | NS      | $374797.69    | 0.07%             | 2026-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| American Express Credit Account Master Trust                                        | AMXCA 2025-3 A                    | CUSIP: 02582JKR0<br>LEI: 549300Y4SA5G3GIJTP18 | Long             | ABS-O            | CORP              | US        |   1375000 | NS      | $1404783.63   | 0.28%             | 2032-04-15      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd.                                                        | AVOL 6.375 05/04/28 144A          | CUSIP: 05401AAS0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    295000 | NS      | $307381.63    | 0.06%             | 2028-05-04      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BX Trust 2025-Roic                                                                  | BX 2025-ROIC A                    | CUSIP: 05593VAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    896504 | NS      | $895383.50    | 0.18%             | 2042-02-18      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V5.202 04/25/29               | CUSIP: 06051GLG2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    804000 | NS      | $824588.75    | 0.16%             | 2029-04-25      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corp.                                                   | BK V4.596 07/26/30                | CUSIP: 06406RBK2<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     75000 | NS      | $76363.31     | 0.01%             | 2030-07-26      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR10                                                                    | BANK5 2024-5YR10 A3               | CUSIP: 06604AAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    800000 | NS      | $824394.19    | 0.16%             | 2057-10-17      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR10                                                                    | BANK5 2024-5YR10 AS               | CUSIP: 06604AAM6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | NS      | $308313.06    | 0.06%             | 2057-10-17      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR11                                                                    | BANK5 2024-5YR11 A3               | CUSIP: 06644WBD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | NS      | $946046.31    | 0.19%             | 2057-11-19      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| Becton, Dickinson and Company                                                       | BDX 3.7 06/06/27                  | CUSIP: 075887BW8<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    925000 | NS      | $921134.31    | 0.18%             | 2027-06-06      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                      | BNP V1.323 01/13/27 144A          | CUSIP: 09659W2N3<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    625000 | NS      | $624408.19    | 0.12%             | 2027-01-13      | Fixed         | 1.32%                 | No            |                  2 | On Loan: No      |
| CHASE HOME LENDING MORTGAGE TRUST 2                                                 | CHASE 2024-3 A5                   | CUSIP: 16159HAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    175000 | NS      | $179624.08    | 0.04%             | 2055-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Chubb INA Holdings LLC                                                              | CB 6.8 11/15/31                   | CUSIP: 171232AE1<br>LEI: CZCBJZWDMLTHWJDXU843 | Long             | DBT              | CORP              | US        |    464000 | NS      | $518558.66    | 0.10%             | 2031-11-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | CAS 2022-R05 2M1                  | CUSIP: 20754DAA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     24777 | NS      | $24807.49     | 0.00%             | 2042-04-25      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| Dell International LLC / EMC Corp.                                                  | DELL 6.02 06/15/26                | CUSIP: 24703TAD8<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    123000 | NS      | $123537.60    | 0.02%             | 2026-06-15      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                  | ET 5.5 06/01/27 *                 | CUSIP: 29278NAN3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    325000 | NS      | $330249.06    | 0.06%             | 2027-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FactSet Research Systems Inc.                                                       | FDS 2.9 03/01/27                  | CUSIP: 303075AA3<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | DBT              | CORP              | US        |    425000 | NS      | $418582.41    | 0.08%             | 2027-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                                                 | FITB V4.772 07/28/30              | CUSIP: 316773DG2<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    411000 | NS      | $415924.41    | 0.08%             | 2030-07-28      | Fixed         | 4.77%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Stacr Remic Trust 2022-DNA7                                             | STACR 2021-DNA5 M2                | CUSIP: 35564KHE2<br>LEI: 5493000IRUQLXTG4SV18 | Long             | ABS-O            | USGSE             | US        |     39844 | NS      | $39956.18     | 0.01%             | 2034-01-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| GE Healthcare Technologies Inc.                                                     | GEHC 5.857 03/15/30               | CUSIP: 36267VAH6<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    144000 | NS      | $152281.98    | 0.03%             | 2030-03-15      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| GENERATE CLO 22 LTD                                                                 | KLLM 2025-22A A                   | CUSIP: 37150AAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2625000 | NS      | $2637012.00   | 0.52%             | 2038-07-20      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Global Payments Inc                                                                 | GPN 5.55 11/15/35                 | CUSIP: 37940XAY8<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    720000 | NS      | $715631.19    | 0.14%             | 2035-11-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                            | HCA 5.45 04/01/31                 | CUSIP: 404119CT4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    475000 | NS      | $495757.00    | 0.10%             | 2031-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| HALSEYPOINT CLO II LTD 2020-02                                                      | HLSY 2020-2A D1R                  | CUSIP: 40638TAS1<br>LEI: 549300PIQILNPH8UJT31 | Long             | ABS-CBDO         | CORP              | KY        |    900000 | NS      | $902067.31    | 0.18%             | 2037-07-20      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |
| Host Hotels & Resorts, L.P.                                                         | HST 2.9 12/15/31 J                | CUSIP: 44107TBA3<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              | CORP              | US        |    224000 | NS      | $202883.16    | 0.04%             | 2031-12-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Hudson Yards 2025-Sprl Mortgage Trust                                               | HY 2025-SPRL D                    | CUSIP: 44855PAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    525000 | NS      | $545966.31    | 0.11%             | 2040-01-13      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Chase Commercial Mortgage Securities Trust                              | JPMCC 2022-NLP B                  | CUSIP: 466317AG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    680974 | NS      | $669358.94    | 0.13%             | 2037-04-15      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| JDE Peets N.V                                                                       | JDEPNA 1.375 01/15/27 144A        | CUSIP: 47216QAB9<br>LEI: 724500EHG519SE5ZRT89 | Long             | DBT              | CORP              | NL        |   1355000 | NS      | $1312504.69   | 0.26%             | 2027-01-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                                                               | LOW 1.7 09/15/28                  | CUSIP: 548661ED5<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    425000 | NS      | $400374.97    | 0.08%             | 2028-09-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Mars Inc.                                                                           | MARS 4.8 03/01/30 144A            | CUSIP: 571676AY1<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   1200000 | NS      | $1226355.13   | 0.24%             | 2030-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Mars Inc.                                                                           | MARS 5.2 03/01/35 144A            | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   1425000 | NS      | $1464657.29   | 0.29%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Mueller Water Products, Inc.                                                        | MWA 4 06/15/29 144A               | CUSIP: 624758AF5<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | DBT              | CORP              | US        |    230000 | NS      | $223663.88    | 0.04%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nature Conservancy                                                                  | NACONV 1.304 07/01/28 A           | CUSIP: 63902HAL3<br>LEI: 549300GJ1IZME7V1JJ28 | Long             | DBT              | CORP              | US        |     25000 | NS      | $23036.18     | 0.00%             | 2028-07-01      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                                       | NFLX 5.875 11/15/28               | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    670000 | NS      | $704423.69    | 0.14%             | 2028-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| 1988 CLO 4 LTD                                                                      | MUZ88 2024-4A D                   | CUSIP: 68252EAJ0<br>LEI: 2549000NTXDB3VOXDV92 | Long             | ABS-CBDO         | CORP              | KY        |   1075000 | NS      | $1080185.75   | 0.21%             | 2037-04-15      | Floating      | 8.15%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 4.5 05/06/28                 | CUSIP: 68389XCM5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    475000 | NS      | $474903.53    | 0.09%             | 2028-05-06      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Owens Corning                                                                       | OC 3.5 02/15/30                   | CUSIP: 690742AM3<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |    235000 | NS      | $227624.55    | 0.04%             | 2030-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Park Blue CLO 2022-I Ltd.                                                           | PKBLU 2022-1A A1R                 | CUSIP: 70016WAQ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    800000 | NS      | $802884.00    | 0.16%             | 2037-10-20      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co LP / PTL Finance Corp.                                      | PENSKE 5.25 07/01/29 144A         | CUSIP: 709599CA0<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | DBT              | CORP              | US        |    367000 | NS      | $377075.38    | 0.07%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pernod Ricard International Finance Llc                                             | RIFP 1.625 04/01/31 144A          | CUSIP: 71427QAB4<br>LEI: 5493009254WI1A8WXT48 | Long             | DBT              | CORP              | US        |    875000 | NS      | $760688.69    | 0.15%             | 2031-04-01      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Rogers Communications Inc.                                                          | RCICN 3.2 03/15/27                | CUSIP: 775109CG4<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   1610000 | NS      | $1593829.00   | 0.31%             | 2027-03-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Solventum Corp.                                                                     | SOLV 5.4 03/01/29                 | CUSIP: 83444MAP6<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    357000 | NS      | $369737.69    | 0.07%             | 2029-03-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Synopsys Inc                                                                        | SNPS 5 04/01/32                   | CUSIP: 871607AD9<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    437000 | NS      | $446225.56    | 0.09%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TPG TR 2024-WLSC                                                                    | TPG 2024-WLSC A                   | CUSIP: 872973AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1600000 | NS      | $1602940.44   | 0.31%             | 2041-11-15      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| Texas Commercial Mortgage Trust 2025-Twr                                            | TEXAS 2025-TWR C                  | CUSIP: 88231WAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | NS      | $349999.47    | 0.07%             | 2042-04-15      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Loan Extended Trust 2025-1                                              | TALNT 2025-1A A                   | CUSIP: 891950AA5<br>LEI: 254900QVX5SBHB37FT67 | Long             | ABS-O            | CORP              | US        |   1450000 | NS      | $1477453.88   | 0.29%             | 2038-05-25      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | TII 2.125 01/15/35                | CUSIP: 91282CML2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9670000 | NS      | $10127959.63  | 1.99%             | 2035-01-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| VERUS SECURITIZATION TR 2022-1                                                      | VERUS 2022-1 A3                   | CUSIP: 92538WAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    605727 | NS      | $556142.75    | 0.11%             | 2067-01-25      | Variable      | 3.29%                 | No            |                  2 | On Loan: No      |
| Voya CLO 2016-1 Limited                                                             | VOYA 2016-1A A1R                  | CUSIP: 92915CAQ7<br>LEI: 549300BRUAMTEA33B077 | Long             | ABS-CBDO         | CORP              | KY        |    523763 | NS      | $523802.56    | 0.10%             | 2031-01-21      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER) | AER 2.45 10/29/26                 | CUSIP: 00774MAV7<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |   1175000 | NS      | $1159029.38   | 0.23%             | 2026-10-29      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Alcon Finance Corp                                                                  | ALCSW 3 09/23/29 144A             | CUSIP: 01400EAB9<br>LEI: 549300CUZUI9VU7XNK42 | Long             | DBT              | CORP              | US        |    450000 | NS      | $431050.03    | 0.08%             | 2029-09-23      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AutoNation, Inc.                                                                    | AN 1.95 08/01/28                  | CUSIP: 05329WAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | NS      | $117908.17    | 0.02%             | 2028-08-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                                                  | SANTAN 2.749 12/03/30             | CUSIP: 05971KAG4<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | NS      | $181812.45    | 0.04%             | 2030-12-03      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| BANK 2025-BNK50                                                                     | BANK 2025-BNK50 A5                | CUSIP: 064908AH9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    650000 | NS      | $686678.94    | 0.13%             | 2068-05-17      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| BANK5 2025-5YR15                                                                    | BANK5 2025-5YR15 A3               | CUSIP: 065924AG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    800000 | NS      | $830834.63    | 0.16%             | 2058-07-17      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| BANK5 2025-5YR16                                                                    | BANK5 2025-5YR16 AS               | CUSIP: 065934BF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    850000 | NS      | $879781.88    | 0.17%             | 2063-08-17      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Banner Health                                                                       | BANNER 2.338 01/01/30             | CUSIP: 06654DAB3<br>LEI: PLD0E0WJKFN8IZJ2WD85 | Long             | DBT              | CORP              | US        |    675000 | NS      | $629993.72    | 0.12%             | 2030-01-01      | Fixed         | 2.34%                 | No            |                  2 | On Loan: No      |
| Baylor Scott & White Holdings                                                       | BSWHLD 1.777 11/15/30 2021        | CUSIP: 072863AH6<br>LEI: 549300JQDKSBWYRGGV95 | Long             | DBT              | CORP              | US        |    245000 | NS      | $219604.16    | 0.04%             | 2030-11-15      | Fixed         | 1.78%                 | No            |                  2 | On Loan: No      |
| Blackstone Secured Lending Fund                                                     | BXSL 5.875 11/15/27               | CUSIP: 09261XAH5<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    350000 | NS      | $357312.81    | 0.07%             | 2027-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                          | BA 2.95 02/01/30                  | CUSIP: 097023CN3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     29000 | NS      | $27475.18     | 0.01%             | 2030-02-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                          | BA 6.298 05/01/29                 | CUSIP: 097023DQ5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    801000 | NS      | $850220.13    | 0.17%             | 2029-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                          | BA 6.528 05/01/34                 | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    445000 | NS      | $492329.75    | 0.10%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST 2025-B                                                 | BX 2025-BCAT A                    | CUSIP: 12433HAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1437427 | NS      | $1439217.88   | 0.28%             | 2042-08-15      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| CSL Finance PLC                                                                     | CSLAU 3.85 04/27/27 144A          | CUSIP: 12661PAA7<br>LEI: 2549007CCNBNAF4HBC02 | Long             | DBT              | CORP              | GB        |    125000 | NS      | $124859.71    | 0.02%             | 2027-04-27      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| CSMC TR 2021-NQM6                                                                   | CSMC 2021-NQM6 A1                 | CUSIP: 12662KAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    647932 | NS      | $556396.25    | 0.11%             | 2066-07-25      | Variable      | 1.17%                 | No            |                  2 | On Loan: No      |
| CHASE HOME LENDING MORTGAGE TRUST 2                                                 | CHASE 2024-3 A5A                  | CUSIP: 16159HAH0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | NS      | $300003.75    | 0.06%             | 2055-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Columbia Pipelines Operating Co. LLC                                                | CPGX 6.036 11/15/33 144A          | CUSIP: 19828TAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    745000 | NS      | $797490.88    | 0.16%             | 2033-11-15      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust 2024-R04                                        | CAS 2024-R04 1M2                  | CUSIP: 20753GAC5<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |    300000 | NS      | $300939.00    | 0.06%             | 2044-05-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | CAS 2024-R03 2M2                  | CUSIP: 207941AB1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    175000 | NS      | $175855.44    | 0.03%             | 2044-03-25      | Floating      | 5.82%                 | No            |                  2 | On Loan: No      |
| Constellation Brands, Inc.                                                          | STZ 4.75 05/09/32                 | CUSIP: 21036PBL1<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |     64000 | NS      | $64268.02     | 0.01%             | 2032-05-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Dell International LLC / EMC Corp.                                                  | DELL 5.3 10/01/29                 | CUSIP: 24703TAG1<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    150000 | NS      | $154783.68    | 0.03%             | 2029-10-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Dell International LLC / EMC Corp.                                                  | DELL 6.2 07/15/30                 | CUSIP: 24703TAH9<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |     25000 | NS      | $26706.94     | 0.01%             | 2030-07-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Elmwood Clo VII Ltd.                                                                | ELM10 2021-3A AR2                 | CUSIP: 29002VAW8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2850000 | NS      | $2861269.00   | 0.56%             | 2038-07-20      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| GE Healthcare Technologies Inc.                                                     | GEHC 5.65 11/15/27                | CUSIP: 36267VAF0<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    820000 | NS      | $844135.00    | 0.17%             | 2027-11-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Generate CLO 15 Ltd.                                                                | KLLM 2024-15A A                   | CUSIP: 37147XAA1<br>LEI: 213800BPDOIOZQRIM719 | Long             | ABS-CBDO         | CORP              | JE        |   1300000 | NS      | $1302759.88   | 0.26%             | 2037-07-20      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                            | HCA 4.5 02/15/27                  | CUSIP: 404119BU2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    950000 | NS      | $952067.56    | 0.19%             | 2027-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HP Inc                                                                              | HPQ 4 04/15/29                    | CUSIP: 40434LAK1<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    644000 | NS      | $637180.31    | 0.13%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Invitation Homes Operating Partnership Lp                                           | INVH 2.3 11/15/28                 | CUSIP: 46188BAB8<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              | CORP              | US        |    300000 | NS      | $285264.56    | 0.06%             | 2028-11-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| J.P.MORGAN MORTGAGE TR 2024-2                                                       | JPMMT 2024-2 A5A                  | CUSIP: 46657TAH8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | NS      | $256552.63    | 0.05%             | 2054-08-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| KRE COMMERCIAL MORTGAGE TRUST 2025-                                                 | KRE 2025-AIP4 A                   | CUSIP: 50077KAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1150000 | NS      | $1148563.75   | 0.23%             | 2042-03-17      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp                                                                | LVS 6 06/14/30                    | CUSIP: 517834AN7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    180000 | NS      | $188623.00    | 0.04%             | 2030-06-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA LOC GOVT ENVIRONMENTAL FACS & CMNTY DEV AUTH                              | LA LASGOV 4.28 02/01/2036         | CUSIP: 54627RAN0<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    620000 | NS      | $615054.06    | 0.12%             | 2036-02-01      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| MSCI Inc.                                                                           | MSCI 4 11/15/29 144A              | CUSIP: 55354GAH3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    585000 | NS      | $571949.94    | 0.11%             | 2029-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST 2025-DSC3                            | MSRM 2025-DSC3 A1A                | CUSIP: 61779JAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1350956 | NS      | $1351593.00   | 0.27%             | 2070-09-25      | Variable      | 4.91%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 4.9 02/06/33                 | CUSIP: 68389XCP8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    537000 | NS      | $516805.22    | 0.10%             | 2033-02-06      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc.                                | RKT 3.625 03/01/29 144A           | CUSIP: 74841CAA9<br>LEI: 549300FGXN1K3HLB1R50 | Long             | DBT              | CORP              | US        |    235000 | NS      | $226980.23    | 0.04%             | 2029-03-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| ROCK TR 2024-CNTR                                                                   | ROCC 2024-CNTR D                  | CUSIP: 74970WAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | NS      | $785850.63    | 0.15%             | 2041-11-15      | Fixed         | 7.11%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO 2025-1                                                         | SDART 2025-1 A2                   | CUSIP: 80288DAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     51920 | NS      | $51936.38     | 0.01%             | 2027-08-15      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| The J M Smucker Company                                                             | SJM 5.9 11/15/28                  | CUSIP: 832696AW8<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |    580000 | NS      | $607672.75    | 0.12%             | 2028-11-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Solventum Corp.                                                                     | SOLV 5.6 03/23/34                 | CUSIP: 83444MAR2<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    460000 | NS      | $478626.38    | 0.09%             | 2034-03-23      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Steel Dynamics, Inc.                                                                | STLD 1.65 10/15/27                | CUSIP: 858119BN9<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |    250000 | NS      | $240122.33    | 0.05%             | 2027-10-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| SUNNOVA HESTIA I 2023-GRIDI                                                         | SNVA 2023-GRID1 1A                | CUSIP: 86746BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    108591 | NS      | $108628.27    | 0.02%             | 2050-12-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                  | TMUS 3.875 04/15/30               | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    440000 | NS      | $432684.97    | 0.08%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Trinitas Clo XXII Ltd.                                                              | TRNTS 2023-22A D1R                | CUSIP: 89640HAU5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |   1100000 | NS      | $1103353.88   | 0.22%             | 2038-03-22      | Floating      | 6.98%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                              | TFC V6.047 06/08/27 MTN           | CUSIP: 89788MAN2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    165000 | NS      | $166327.63    | 0.03%             | 2027-06-08      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | TII 2.125 02/15/54                | CUSIP: 912810TY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15050000 | NS      | $14305855.38  | 2.81%             | 2054-02-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| VERUS SECURITIZATION 2025-INV1                                                      | VERUS 2025-INV1 A1                | CUSIP: 924929AC6<br>LEI: 213800YO7QOQOFRSRN78 | Long             | ABS-O            | CORP              | US        |    708663 | NS      | $716401.19    | 0.14%             | 2070-02-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| WB Burgers Asia Inc                                                                 | WB 2024-HQ B                      | CUSIP: 92943PAC5<br>LEI: 549300GK97AYN6BKKT80 | Long             | ABS-O            | CORP              | US        |   1050000 | NS      | $1053248.75   | 0.21%             | 2040-03-16      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| Warwick Capital CLO 1 Ltd.                                                          | WWICK 2023-1A AR                  | CUSIP: 936919AN9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   2050000 | NS      | $2053077.00   | 0.40%             | 2038-10-20      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Waste Management, Inc.                                                              | WM 4.15 04/15/32                  | CUSIP: 94106LBS7<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    200000 | NS      | $198224.31    | 0.04%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Workday Inc                                                                         | WDAY 3.5 04/01/27                 | CUSIP: 98138HAG6<br>LEI: 549300J0DYC0N31V7G13 | Long             | DBT              | CORP              | US        |    250000 | NS      | $248489.34    | 0.05%             | 2027-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BARINGS CLO LTD 2024-IV/LLC                                                         | BABSN 2024-4A B                   | CUSIP: 06763DAC9<br>LEI: 25490018GYL1YL6YBG43 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | NS      | $501383.00    | 0.10%             | 2037-10-20      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                          | BA 8.75 09/15/31                  | CUSIP: 097023AE5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    459000 | NS      | $547367.56    | 0.11%             | 2031-09-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CIM TRUST 2025-I1                                                                   | CIM 2025-I1 A2                    | CUSIP: 12571DAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    625308 | NS      | $633331.19    | 0.12%             | 2069-10-25      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | CAS 2024-R03 2B1                  | CUSIP: 207941AF2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    275000 | NS      | $284474.19    | 0.06%             | 2044-03-25      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| Fair Isaac Corporation                                                              | FAIRIC 5.25 05/15/26 144A         | CUSIP: 303250AE4<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    210000 | NS      | $210263.16    | 0.04%             | 2026-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Hillenbrand, Inc.                                                                   | HI 3.75 03/01/31                  | CUSIP: 431571AE8<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |    235000 | NS      | $235416.66    | 0.05%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| SANTANDER DRIVE AUTO 2025-1                                                         | SDART 2025-1 A3                   | CUSIP: 80288DAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1050000 | NS      | $1052201.13   | 0.21%             | 2029-01-15      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| Take-Two Interactive Software Inc.                                                  | TTWO 3.7 04/14/27                 | CUSIP: 874054AG4<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |    400000 | NS      | $398377.22    | 0.08%             | 2027-04-14      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER) | AER 3 10/29/28                    | CUSIP: 00774MAW5<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |    235000 | NS      | $227829.83    | 0.04%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc.                                                                 | ALLY 7.1 11/15/27                 | CUSIP: 02005NBR0<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    550000 | NS      | $577811.56    | 0.11%             | 2027-11-15      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| BX Trust 2018-Bilt                                                                  | BX 2024-BIO A                     | CUSIP: 05612AAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1400000 | NS      | $1396962.88   | 0.27%             | 2041-02-15      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR7                                                                     | BANK5 2024-5YR7 A3                | CUSIP: 06211UBL8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    825000 | NS      | $861043.75    | 0.17%             | 2057-06-15      | Variable      | 5.77%                 | No            |                  2 | On Loan: No      |
| Berry Global Inc                                                                    | AMCR 1.57 01/15/26                | CUSIP: 08576PAH4<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |    300000 | NS      | $299699.50    | 0.06%             | 2026-01-15      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| BFLD COML MTG TR 2024-UNIV                                                          | BFLD 2024-UNIV A                  | CUSIP: 08861RAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1200000 | NS      | $1200749.13   | 0.24%             | 2041-11-15      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Blackstone Private Credit Fund                                                      | BCRED 6 01/29/32                  | CUSIP: 09261HBX4<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    200000 | NS      | $203018.39    | 0.04%             | 2032-01-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BMO 2024-5C4 MORTGAGE TRUST                                                         | BMO 2024-5C4 A3                   | CUSIP: 09660SAU4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    950000 | NS      | $1007931.31   | 0.20%             | 2057-05-17      | Variable      | 6.53%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners Lp                                                         | CQP 4.5 10/01/29                  | CUSIP: 16411QAG6<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    220000 | NS      | $220462.55    | 0.04%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners Lp                                                         | CQP 5.95 06/30/33                 | CUSIP: 16411QAQ4<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    245000 | NS      | $259791.34    | 0.05%             | 2033-06-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                      | C V6.02 01/24/36                  | CUSIP: 172967PU9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    590000 | NS      | $617960.56    | 0.12%             | 2036-01-24      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| DIAMETER CAPITAL CLO 2 LTD SERIES 2                                                 | DCLO 2022-4A A1R                  | CUSIP: 25255NAQ1<br>LEI: 25490087B17FBD0ODC27 | Long             | ABS-CBDO         | CORP              | KY        |   2200000 | NS      | $2203935.75   | 0.43%             | 2037-01-15      | Variable      | 6.15%                 | No            |                  2 | On Loan: No      |
| Eagle Funding Luxco S.a.r.l.                                                        | MEXPCP 5.5 08/17/30 144A          | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | CORP              | LU        |   1340000 | NS      | $1364910.63   | 0.27%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                                                  | META 4.2 11/15/30                 | CUSIP: 30303MAB8<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    975000 | NS      | $977060.31    | 0.19%             | 2030-11-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| FORD CR AUTO OWN TR 2024-REV1                                                       | FORDR 2024-1 A                    | CUSIP: 34533BAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1075000 | NS      | $1102408.25   | 0.22%             | 2036-08-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| Haleon US Capital LLC.                                                              | HLNLN 3.375 03/24/27              | CUSIP: 36264FAK7<br>LEI: 549300N8C3A3L0UVQB07 | Long             | DBT              | CORP              | US        |    950000 | NS      | $943031.75    | 0.19%             | 2027-03-24      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                            | HCA 5.625 09/01/28                | CUSIP: 404121AJ4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    200000 | NS      | $206155.13    | 0.04%             | 2028-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Hyatt Hotels Corporation                                                            | H 5.5 06/30/34                    | CUSIP: 448579AS1<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    290000 | NS      | $298904.60    | 0.06%             | 2034-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| IRV TRUST 2025-200P                                                                 | IRV 2025-200P A                   | CUSIP: 45006HAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | NS      | $769534.88    | 0.15%             | 2047-03-14      | Variable      | 5.29%                 | No            |                  2 | On Loan: No      |
| Indigo Merger Sub Inc                                                               | ICLR 2.875 07/15/26 144A          | CUSIP: 45569KAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    235000 | NS      | $233089.77    | 0.05%             | 2026-07-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| J.P.MORGAN MORTGAGE TR 2024-1                                                       | JPMMT 2024-1 A4                   | CUSIP: 46657PAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    341101 | NS      | $342843.94    | 0.07%             | 2054-06-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| MAD COMMERCIAL MORTGAGE TRUST 2025-11MD                                             | MAD 2025-11MD D                   | CUSIP: 55616AAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    975000 | NS      | $987130.44    | 0.19%             | 2042-10-11      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| OBX 2022-J2 TRUST                                                                   | OBX 2022-J2 A1                    | CUSIP: 67115QAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    490509 | NS      | $450904.50    | 0.09%             | 2052-08-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| NYC COMMERCIAL MORTGAGE TRUST 2025-11X                                              | NYC 2025-11X A                    | CUSIP: 67122NAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1200000 | NS      | $1202991.88   | 0.24%             | 2040-10-15      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| Oaktree CLO 2019-4 Ltd.                                                             | OAKCL 2019-4A ARR                 | CUSIP: 67402CBE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | NS      | $1102853.38   | 0.22%             | 2037-07-20      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| REGATTA III FUNDING LTD                                                             | REG32 2025-4A A1                  | CUSIP: 75884AAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1950000 | NS      | $1956341.38   | 0.38%             | 2038-07-25      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Reliance Industries Ltd.                                                            | RILIN 2.875 01/12/32 144A         | CUSIP: 759470BB2<br>LEI: 5493003UOETFYRONLG31 | Long             | DBT              | CORP              | IN        |    930000 | NS      | $848550.25    | 0.17%             | 2032-01-12      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Rush University System for Health                                                   | RUSHOB 3.922 11/15/29 2020        | CUSIP: 78200JAA0<br>LEI: ZF7C375GL43TFX8CCS02 | Long             | DBT              | CORP              | US        |    255000 | NS      | $252853.19    | 0.05%             | 2029-11-15      | Fixed         | 3.92%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO IV Ltd.                                                             | SNDPT 2013-3RA D                  | CUSIP: 83609YAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | NS      | $244590.75    | 0.05%             | 2031-04-18      | Floating      | 7.40%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | TII 1.625 04/15/30                | CUSIP: 91282CNB3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  52920000 | NS      | $54260582.00  | 10.65%            | 2030-04-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | TII 1.125 10/15/30                | CUSIP: 91282CPH8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  77470000 | NS      | $76597364.00  | 15.03%            | 2030-10-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust 2024-1CHI                                     | WFCM 2024-1CHI B                  | CUSIP: 95003PAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    700000 | NS      | $705898.06    | 0.14%             | 2035-07-17      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| BLP COMMERCIAL MORTGAGE TRUST 2024-                                                 | BLP 2024-IND2 A                   | CUSIP: 05625AAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    706741 | NS      | $707176.25    | 0.14%             | 2041-03-15      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| BMW VEHICLE LEASE TRUST 2025-1                                                      | BMWLT 2025-1 A3                   | CUSIP: 096912AD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1050000 | NS      | $1059074.00   | 0.21%             | 2028-06-26      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| CARLYLE US CLO 2021-8 LTD                                                           | CGMS 2021-8A A1R                  | CUSIP: 143120AN3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2250000 | NS      | $2254005.00   | 0.44%             | 2038-10-15      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co LP / PTL Finance Corp.                                      | PENSKE 4.4 07/01/27 144A          | CUSIP: 709599BN3<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | DBT              | CORP              | US        |   1075000 | NS      | $1078431.00   | 0.21%             | 2027-07-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                            | VST 5 07/31/27 144A               | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    230000 | NS      | $230529.16    | 0.05%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Adventist Health Systems (West)                                                     | ADVENT 2.952 03/01/29             | CUSIP: 007944AF8<br>LEI: 5493008YM33UCY5QPW83 | Long             | DBT              | CORP              | US        |    110000 | NS      | $104463.39    | 0.02%             | 2029-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Applovin Corp.                                                                      | APP 5.5 12/01/34                  | CUSIP: 03831WAD0<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |    425000 | NS      | $436666.97    | 0.09%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| B.A.T. Capital Corporation                                                          | BATSLN 6 02/20/34                 | CUSIP: 05526DBZ7<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    655000 | NS      | $701315.38    | 0.14%             | 2034-02-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BBCMS Mortgage Trust 2020-C6                                                        | BBCMS 2018-TALL A                 | CUSIP: 05548WAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1050000 | NS      | $993925.06    | 0.20%             | 2037-03-16      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| BBCMS Mortgage Trust 2020-C6                                                        | BBCMS 2019-C3 C                   | CUSIP: 05550MAZ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    564000 | NS      | $503800.78    | 0.10%             | 2052-05-17      | Variable      | 4.18%                 | No            |                  2 | On Loan: No      |
| BBAM US CLO V LTD                                                                   | BBAM 2025-5A A1                   | CUSIP: 05556BAA0<br>LEI: 213800MKXSA1BGWGVJ66 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | NS      | $2505275.00   | 0.49%             | 2038-07-26      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| BBCMS MORTGAGE TRUST 2025-5C36                                                      | BBCMS 2025-5C36 A3                | CUSIP: 05556CAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | NS      | $938806.00    | 0.18%             | 2058-08-16      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| BPR TRUST 2024-PMDW                                                                 | BPR 2024-PMDW A                   | CUSIP: 05592VAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    700000 | NS      | $716261.44    | 0.14%             | 2041-11-07      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| BANK5 2025-5YR17                                                                    | BANK5 2025-5YR17 A3               | CUSIP: 06211GAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1050000 | NS      | $1082554.75   | 0.21%             | 2058-11-18      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corp.                                                   | BK V5.834 10/25/33 MTN            | CUSIP: 06406RBM8<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    200000 | NS      | $215648.09    | 0.04%             | 2033-10-25      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| Bank 2017-Bnk5 206                                                                  | BANK 2017-BNK5 A5                 | CUSIP: 06541WAX0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1600000 | NS      | $1582652.00   | 0.31%             | 2060-06-17      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| Barclays Dryrock Issuance Trust                                                     | DROCK 2023-1 A                    | CUSIP: 06742LAX1<br>LEI: 213800R4G3N2G68CHU37 | Long             | ABS-O            | CORP              | US        |   1900000 | NS      | $1904414.88   | 0.37%             | 2029-02-15      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Barclays Dryrock Issuance Trust                                                     | DROCK 2025-1 A                    | CUSIP: 06742LBF9<br>LEI: 213800R4G3N2G68CHU37 | Long             | ABS-O            | CORP              | US        |   1000000 | NS      | $1002279.31   | 0.20%             | 2031-07-15      | Fixed         | 3.97%                 | No            |                  2 | On Loan: No      |
| BARINGS CLO LTD 2024-I                                                              | BABSN 2024-1A D                   | CUSIP: 06763VAG0<br>LEI: 2549005VRCK51O5LRS39 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | NS      | $752116.50    | 0.15%             | 2037-01-21      | Floating      | 7.88%                 | No            |                  2 | On Loan: No      |
| BBCMS MORTGAGE TRUST 2024-C24                                                       | BBCMS 2024-C24 A5                 | CUSIP: 07336VAU5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    550000 | NS      | $573710.25    | 0.11%             | 2057-02-16      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Benchmark 2020-B16 Mortgage Trust                                                   | BMARK 2020-B22 A5                 | CUSIP: 08163BBA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | NS      | $526667.44    | 0.10%             | 2054-01-16      | Fixed         | 1.97%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                          | BA 5.15 05/01/30                  | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    240000 | NS      | $246602.44    | 0.05%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                        | AVGO 4.15 04/15/32 144A           | CUSIP: 11135FBT7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    340000 | NS      | $332466.88    | 0.07%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                        | AVGO 2.45 02/15/31                | CUSIP: 11135FCQ2<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    885000 | NS      | $809490.44    | 0.16%             | 2031-02-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                        | AVGO 3.469 04/15/34               | CUSIP: 11135FCT6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    250000 | NS      | $227960.77    | 0.04%             | 2034-04-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| Cbamr 2017-4 Ltd. / Cbamr 2017-4 LLC                                                | CBAMR 2017-4A A1R                 | CUSIP: 12516EAC5<br>LEI: 635400U9D8ZDLM1G7T76 | Long             | ABS-CBDO         | CORP              | KY        |   2100000 | NS      | $2108261.50   | 0.41%             | 2038-03-31      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                     | CVS 3.25 08/15/29                 | CUSIP: 126650DG2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    151000 | NS      | $145764.83    | 0.03%             | 2029-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | CAS 2022-R05 2M2                  | CUSIP: 20754DAB3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    165000 | NS      | $168643.66    | 0.03%             | 2042-04-25      | Floating      | 6.87%                 | No            |                  2 | On Loan: No      |
| DCP Midstream Operating LP                                                          | DCP 5.625 07/15/27                | CUSIP: 23311VAJ6<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    210000 | NS      | $213974.52    | 0.04%             | 2027-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| DC COMMERCIAL MORTGAGE TRUST 2023-D                                                 | DC 2024-HLTN A                    | CUSIP: 24022FAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | NS      | $506247.91    | 0.10%             | 2040-04-13      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                  | ET 4.2 04/15/27                   | CUSIP: 29273RBK4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1000000 | NS      | $1000429.56   | 0.20%             | 2027-04-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| EXTER AUTOMOBILE RECEIVABLES TRUST                                                  | EART 2025-3A A3                   | CUSIP: 30166XAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | NS      | $906565.75    | 0.18%             | 2029-07-16      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Expedia Group Inc                                                                   | EXPE 3.25 02/15/30                | CUSIP: 30212PAR6<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |    217000 | NS      | $208118.70    | 0.04%             | 2030-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FORD CR AUTO OWN 2021-REV1 TR                                                       | FORDR 2021-1 A                    | CUSIP: 345340AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | NS      | $496033.19    | 0.10%             | 2033-10-15      | Fixed         | 1.37%                 | No            |                  2 | On Loan: No      |
| HONDA AUTO RECEIVABLES 2023-4 OWNE                                                  | HAROT 2023-4 A3                   | CUSIP: 438123AC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1275646 | NS      | $1289566.50   | 0.25%             | 2028-06-21      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| Houston Galleria Mall Trust 2025-HGLR                                               | HGMT 2025-HGLR A                  | CUSIP: 44216XAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    650000 | NS      | $673522.31    | 0.13%             | 2045-02-07      | Variable      | 5.46%                 | No            |                  2 | On Loan: No      |
| Intel Corporation                                                                   | INTC 5.15 02/21/34                | CUSIP: 458140CL2<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    210000 | NS      | $212641.08    | 0.04%             | 2034-02-21      | Fixed         | 5.15%                 | No            |                  2 | On Loan: —       |
| J.P. MORGAN MORTGAGE TRUST 2023-HE3                                                 | JPMMT 2023-HE3 A1                 | CUSIP: 465985AA7<br>LEI: 5299007DSRZLE19EYU93 | Long             | ABS-O            | CORP              | US        |    179490 | NS      | $180072.73    | 0.04%             | 2054-05-20      | Variable      | 5.78%                 | No            |                  2 | On Loan: No      |
| Lithia Motors Incorporated                                                          | LAD 4.375 01/15/31 144A           | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    220000 | NS      | $211438.17    | 0.04%             | 2031-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                                                               | LOW 3.75 04/01/32                 | CUSIP: 548661EH6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    225000 | NS      | $215605.70    | 0.04%             | 2032-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                             | MPLX 1.75 03/01/26                | CUSIP: 55336VBR0<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   1050000 | NS      | $1045859.06   | 0.21%             | 2026-03-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| MSCI Inc.                                                                           | MSCI 3.625 09/01/30 144A          | CUSIP: 55354GAK6<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    225000 | NS      | $214913.38    | 0.04%             | 2030-09-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Xxxiv Ltd.                                                     | MDPK 2025-73A A1                  | CUSIP: 55823HAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | NS      | $2508800.00   | 0.49%             | 2038-10-17      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Mars Inc.                                                                           | MARS 5 03/01/32 144A              | CUSIP: 571676AZ8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   1050000 | NS      | $1082281.50   | 0.21%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                                                        | MAR 5 10/15/27                    | CUSIP: 571903BJ1<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    500000 | NS      | $508452.91    | 0.10%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                                                        | MAR 4.875 05/15/29                | CUSIP: 571903BP7<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    292000 | NS      | $298344.22    | 0.06%             | 2029-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | MS V5.164 04/20/29 MTN            | CUSIP: 61747YFD2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    589000 | NS      | $602258.13    | 0.12%             | 2029-04-20      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG 5.25 06/15/29 144A            | CUSIP: 629377CH3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    220000 | NS      | $220592.45    | 0.04%             | 2029-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NiSource Inc.                                                                       | NI 5.25 03/30/28                  | CUSIP: 65473PAN5<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    475000 | NS      | $486980.38    | 0.10%             | 2028-03-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OBX 2024-NQM2 TRUST                                                                 | OBX 2024-NQM2 A1                  | CUSIP: 67118HAA8<br>LEI: 254900OHTVKDKZL33I54 | Long             | ABS-O            | CORP              | US        |    732273 | NS      | $737103.94    | 0.14%             | 2063-12-25      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| Oha Credit Partners Xv Limited                                                      | OAKC 2021-10RA A1                 | CUSIP: 67121RAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1475000 | NS      | $1477146.13   | 0.29%             | 2038-07-18      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 6.25 11/09/32                | CUSIP: 68389XCJ2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1000000 | NS      | $1042410.44   | 0.20%             | 2032-11-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Company                                                           | ARAMCO 5.25 07/17/34 144A         | CUSIP: 80414L2N4<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    710000 | NS      | $730701.50    | 0.14%             | 2034-07-17      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                       | USB V5.775 06/12/29               | CUSIP: 91159HJM3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    445000 | NS      | $462534.66    | 0.09%             | 2029-06-12      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                                                             | UNH 4.2 05/15/32                  | CUSIP: 91324PEJ7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    100000 | NS      | $98727.60     | 0.02%             | 2032-05-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| VERUS SEC TR 2021-8                                                                 | VERUS 2021-8 A1                   | CUSIP: 92538GAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     67451 | NS      | $62567.36     | 0.01%             | 2066-11-25      | Variable      | 1.82%                 | No            |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST 2025-1                                                   | VERUS 2025-1 A1A                  | CUSIP: 92540TAL4<br>LEI: 213800JOKZMXZECMAB50 | Long             | ABS-O            | CORP              | US        |   1332541 | NS      | $1345187.13   | 0.26%             | 2070-01-25      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust 2024-1CHI                                     | WFCM 2024-1CHI A                  | CUSIP: 95003PAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1125000 | NS      | $1134738.75   | 0.22%             | 2035-07-17      | Variable      | 5.31%                 | No            |                  2 | On Loan: No      |
| Westlake Automboile Receivables Trust 2018-3                                        | WLAKE 2025-2A A2A                 | CUSIP: 96041KAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    950000 | NS      | $952846.00    | 0.19%             | 2028-09-15      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| Workday Inc                                                                         | WDAY 3.8 04/01/32                 | CUSIP: 98138HAJ0<br>LEI: 549300J0DYC0N31V7G13 | Long             | DBT              | CORP              | US        |    175000 | NS      | $167451.88    | 0.03%             | 2032-04-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER) | AER 3.3 01/30/32                  | CUSIP: 00774MAX3<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |    250000 | NS      | $230829.88    | 0.05%             | 2032-01-30      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V5.511 01/24/36               | CUSIP: 06051GMM8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    900000 | NS      | $938338.06    | 0.18%             | 2036-01-24      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR11                                                                    | BANK5 2024-5YR11 AS               | CUSIP: 06644WBL1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425000 | NS      | $444359.63    | 0.09%             | 2057-11-19      | Variable      | 6.14%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Company                                                        | BMY 2.95 03/15/32                 | CUSIP: 110122DU9<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    275000 | NS      | $254717.48    | 0.05%             | 2032-03-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| BX Trust 2018-Bilt                                                                  | BX 2025-TAIL A                    | CUSIP: 123912AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1150000 | NS      | $1149999.88   | 0.23%             | 2035-06-15      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                     | CVS 1.875 02/28/31                | CUSIP: 126650DQ0<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    225000 | NS      | $197414.03    | 0.04%             | 2031-02-28      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Cardinal Health, Inc.                                                               | CAH 5.125 02/15/29                | CUSIP: 14149YBN7<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |    327000 | NS      | $336540.59    | 0.07%             | 2029-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Cedar Funding IV CLO Ltd.                                                           | CEDF 2014-4A AR3                  | CUSIP: 150323BL6<br>LEI: 549300PPJP6KEORGHQ85 | Long             | ABS-CBDO         | CORP              | KY        |   1875000 | NS      | $1879141.88   | 0.37%             | 2038-01-25      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| CHASE HOME LENDING MORTGAGE TRUST 2                                                 | CHASE 2024-3 A7                   | CUSIP: 16159HAN7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | NS      | $101357.90    | 0.02%             | 2055-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Constellation Software Inc.                                                         | CSUCN 5.158 02/16/29 144A         | CUSIP: 21037XAC4<br>LEI: 549300B6PYHMCTDWQV29 | Long             | DBT              | CORP              | CA        |    296000 | NS      | $301642.16    | 0.06%             | 2029-02-16      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Crown Castle Inc.                                                                   | CCI 3.65 09/01/27                 | CUSIP: 22822VAH4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    950000 | NS      | $942440.50    | 0.18%             | 2027-09-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| DIAMETER CAPITAL CLO 10 LTD                                                         | DCLO 2025-10A A                   | CUSIP: 25290BAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1450000 | NS      | $1452752.13   | 0.29%             | 2038-04-20      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust 2013-2                                          | EART 2025-1A A2                   | CUSIP: 30167MAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     77585 | NS      | $77596.83     | 0.02%             | 2027-09-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust 2013-2                                          | EART 2025-1A A3                   | CUSIP: 30167MAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | NS      | $300526.47    | 0.06%             | 2028-08-15      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                                                  | META 4.875 11/15/35               | CUSIP: 30303MAD4<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    875000 | NS      | $873827.50    | 0.17%             | 2035-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Halseypoint CLO 7 Ltd / LLC                                                         | HLSY 2023-7A A1R                  | CUSIP: 40638LAL3<br>LEI: 5493000LI3XMVBCJEF82 | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | NS      | $1503012.00   | 0.29%             | 2038-07-20      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Hudson Yards 2025-Sprl Mortgage Trust                                               | HY 2025-SPRL A                    | CUSIP: 44855PAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    855000 | NS      | $886455.17    | 0.17%             | 2040-01-13      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Idex Corporation                                                                    | IEX 2.625 06/15/31                | CUSIP: 45167RAH7<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | DBT              | CORP              | US        |    335000 | NS      | $305953.94    | 0.06%             | 2031-06-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| ING Groep N.V.                                                                      | INTNED V4.017 03/28/28            | CUSIP: 456837BB8<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    450000 | NS      | $450052.97    | 0.09%             | 2028-03-28      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| Jbs Usa Lux SA/Jbs Usa Food Company/Jbs Usa Finance Inc                             | JBSSBZ 3.75 12/01/31              | CUSIP: 46590XAM8<br>LEI: RB8RC03FUD8DSX57C193 | Long             | DBT              | CORP              | LU        |    230000 | NS      | $218410.91    | 0.04%             | 2031-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LPL Holdings Inc.                                                                   | LPLA 4 03/15/29 144A              | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    235000 | NS      | $231074.44    | 0.05%             | 2029-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp                                                                | LVS 5.625 06/15/28                | CUSIP: 517834AM9<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    490000 | NS      | $502394.63    | 0.10%             | 2028-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Lennar Corp.                                                                        | LEN 4.75 11/29/27                 | CUSIP: 526057CD4<br>LEI: 529900G61XVRLX5TJX09 | Long             | DBT              | CORP              | US        |    310000 | NS      | $312484.88    | 0.06%             | 2027-11-29      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY RESIDENTIAL MORTGAGE                                                 | MSRM 2025-NQM4 A1A                | CUSIP: 617945AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1428270 | NS      | $1439696.63   | 0.28%             | 2070-05-25      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| NXP B V / NXP Funding LLC & NXP USA Inc                                             | NXPI 5 01/15/33                   | CUSIP: 62954HBB3<br>LEI: 724500RKKW4NOJ9YQF60 | Long             | DBT              | CORP              | NL        |    105000 | NS      | $106662.23    | 0.02%             | 2033-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OBX 2025-NQM11 TRUST                                                                | OBX 2025-NQM11 A1A                | CUSIP: 67449BAL7<br>LEI: 254900KNWDG7C03UTA13 | Long             | ABS-O            | CORP              | US        |   1073554 | NS      | $1082495.00   | 0.21%             | 2065-05-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Octagon 57 Ltd.                                                                     | OCT57 2021-1A B1R                 | CUSIP: 67592XAQ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1790000 | NS      | $1789953.50   | 0.35%             | 2034-10-16      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| 1988 CLO 5 Ltd.                                                                     | MUZ88 2024-5A A1                  | CUSIP: 68252PAA4<br>LEI: 254900KAQBAF5XV8IU66 | Long             | ABS-CBDO         | CORP              | KY        |   1325000 | NS      | $1328989.63   | 0.26%             | 2037-07-15      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| 1988 CLO 5 Ltd.                                                                     | MUZ88 2024-5A D1                  | CUSIP: 68252PAN6<br>LEI: 254900KAQBAF5XV8IU66 | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | NS      | $1102840.25   | 0.22%             | 2037-07-15      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 2.95 04/01/30                | CUSIP: 68389XBV6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    104000 | NS      | $96009.56     | 0.02%             | 2030-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 5.25 02/03/32                | CUSIP: 68389XCZ6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    700000 | NS      | $699904.56    | 0.14%             | 2032-02-03      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pilgrims Pride Corporation                                                          | PPC 4.25 04/15/31                 | CUSIP: 72147KAJ7<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    225000 | NS      | $219660.25    | 0.04%             | 2031-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ROCK TR 2024-CNTR                                                                   | ROCC 2024-CNTR A                  | CUSIP: 74970WAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | NS      | $924640.13    | 0.18%             | 2041-11-15      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| RR 29 LTD                                                                           | RRAM 2024-29RA A2R                | CUSIP: 74989VAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    800000 | NS      | $801350.38    | 0.16%             | 2039-07-15      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| Republic Services, Inc.                                                             | RSG 4.875 04/01/29                | CUSIP: 760759BB5<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    275000 | NS      | $281828.00    | 0.06%             | 2029-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Smbc Aviation Capital Finance                                                       | SMBCAC 5.7 07/25/33 144A          | CUSIP: 78448TAK8<br>LEI: 549300OD7VKRVNWB2J98 | Long             | DBT              | CORP              | IE        |    661000 | NS      | $690282.31    | 0.14%             | 2033-07-25      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Steris Irish Finco Unlimited Company                                                | STE 2.7 03/15/31                  | CUSIP: 85917PAA5<br>LEI: 549300BRDKZ1HFI2J358 | Long             | DBT              | CORP              | IE        |    218000 | NS      | $201140.72    | 0.04%             | 2031-03-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Sutter Health                                                                       | SUTHEA 2.294 08/15/30 20A         | CUSIP: 86944BAG8<br>LEI: 549300MJCC12LU768G81 | Long             | DBT              | CORP              | US        |    130000 | NS      | $119553.54    | 0.02%             | 2030-08-15      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| Synopsys Inc                                                                        | SNPS 5.15 04/01/35                | CUSIP: 871607AE7<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    314000 | NS      | $319132.49    | 0.06%             | 2035-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                  | TMUS 3.75 04/15/27                | CUSIP: 87264ABD6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1190000 | NS      | $1186261.50   | 0.23%             | 2027-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | TII 2.125 04/15/29                | CUSIP: 91282CKL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4480000 | NS      | $4803544.00   | 0.94%             | 2029-04-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | TII 1.875 07/15/35                | CUSIP: 91282CNS6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 112480000 | NS      | $113640655.75 | 22.30%            | 2035-07-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| VTR COMMERCIAL MORTGAGE TRUST 2025-STEM                                             | VTR 2025-STEM A                   | CUSIP: 92890YAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1100000 | NS      | $1103117.63   | 0.22%             | 2039-10-14      | Variable      | 5.03%                 | No            |                  2 | On Loan: No      |
| WF Card Issuance Trust                                                              | WFCIT 2025-A1 A                   | CUSIP: 92970QAJ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1375000 | NS      | $1393566.50   | 0.27%             | 2030-05-15      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| Waste Management, Inc.                                                              | WM 4.95 07/03/31                  | CUSIP: 94106LBY4<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    456000 | NS      | $472012.41    | 0.09%             | 2031-07-03      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                   | WFC 4.1 06/03/26 MTN              | CUSIP: 94974BFY1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1875000 | NS      | $1875173.50   | 0.37%             | 2026-06-03      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRU                                                 | WFCM 2024-C63 A5                  | CUSIP: 94990FAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    660000 | NS      | $682605.06    | 0.13%             | 2057-08-17      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust 2012-Lc5                                      | WFCM 2021-C59 A5                  | CUSIP: 95003CAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    925000 | NS      | $836272.31    | 0.16%             | 2054-04-17      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Atkore Inc                                                                          | ATKR 4.25 06/01/31 144A           | CUSIP: 047649AA6<br>LEI: 52990002TI38AM4RPV48 | Long             | DBT              | CORP              | US        |    235000 | NS      | $225508.91    | 0.04%             | 2031-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BX COML MTG TR 2024-VLT5                                                            | BX 2024-VLT5 A                    | CUSIP: 05614JAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | NS      | $607511.25    | 0.12%             | 2046-11-16      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| BANK5 2025-5YR13                                                                    | BANK5 2025-5YR13 AS               | CUSIP: 06650CAP8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    675000 | NS      | $703441.31    | 0.14%             | 2058-01-17      | Variable      | 6.10%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                        | AVGO 3.137 11/15/35 144A          | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    688000 | NS      | $592495.94    | 0.12%             | 2035-11-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| CARLYLE US 25-3 LTD/LLC                                                             | CGMS 2025-3A A                    | CUSIP: 14320EAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2100000 | NS      | $2107749.00   | 0.41%             | 2038-07-26      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | CAS 2024-R01 1M2                  | CUSIP: 20753UAB6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    300000 | NS      | $301728.66    | 0.06%             | 2044-01-25      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| ELMWOOD CLO 35 LTD                                                                  | ELM35 2024-11A A                  | CUSIP: 29004NAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | NS      | $2756701.75   | 0.54%             | 2037-10-19      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Stacr Remic Trust                                                       | STACR 2025-DNA3 A1                | CUSIP: 35564UAQ0<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   1357875 | NS      | $1358255.63   | 0.27%             | 2045-09-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc.                                                               | FCX 4.625 08/01/30                | CUSIP: 35671DCH6<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    215000 | NS      | $216618.45    | 0.04%             | 2030-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN MTG TR 2021-LTV2                                                        | JPMMT 2021-LTV2 A1                | CUSIP: 46654VAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    649941 | NS      | $556171.81    | 0.11%             | 2052-05-25      | Variable      | 2.52%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper Inc                                                                | KDP 4.597 05/25/28                | CUSIP: 49271VAF7<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    800000 | NS      | $806449.19    | 0.16%             | 2028-05-25      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                  | TMUS 3.375 04/15/29               | CUSIP: 87264ABV6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    230000 | NS      | $224162.98    | 0.04%             | 2029-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                               | ROMANI 3 02/14/31 REGS            | CUSIP: X7360WBP6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    856000 | NS      | $776230.25    | 0.15%             | 2031-02-14      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                                                       | GOOGL 4.1 11/15/30                | CUSIP: 02079KAW7<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |   2225000 | NS      | $2231828.50   | 0.44%             | 2030-11-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2024-PAT                                                                   | BX 2024-PAT A                     | CUSIP: 05612FAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    325000 | NS      | $325000.00    | 0.06%             | 2041-03-15      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | CAS 2021-R03 1M2                  | CUSIP: 20754AAB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    206000 | NS      | $207128.80    | 0.04%             | 2041-12-26      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Constellation Brands, Inc.                                                          | STZ 3.7 12/06/26                  | CUSIP: 21036PAQ1<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    925000 | NS      | $922694.44    | 0.18%             | 2026-12-06      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| DURST COMMERCIAL MORTGAGE TRUST 202                                                 | DURST 2025-151 A                  | CUSIP: 266895AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | NS      | $1018568.81   | 0.20%             | 2042-08-12      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| Expedia Group Inc                                                                   | EXPE 2.95 03/15/31                | CUSIP: 30212PBH7<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |     68000 | NS      | $63221.60     | 0.01%             | 2031-03-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Johnson Controls International PLC / Tyco Fire & Security Finance S.C.A.            | JCI 4.9 12/01/32                  | CUSIP: 47837RAE0<br>LEI: 549300XQ6S1GYKGBL205 | Long             | DBT              | CORP              | IE        |    150000 | NS      | $152500.59    | 0.03%             | 2032-12-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Mexico City Airport Trust                                                           | MEXCAT 3.875 04/30/28 REGS        | CUSIP: P6629MAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |   1190000 | NS      | $1162487.25   | 0.23%             | 2028-04-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                              | US T-BOND ULTRA                   | CUSIP: 00002WNH6<br>LEI: 549300EX04Q2QBFQTQ27 | Short            | DIR              | CORP              | US        |      -111 | NC      | $185256.29    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                              | US T-NOTE 5YR                     | CUSIP: 00002FVH6<br>LEI: 549300EX04Q2QBFQTQ27 | Long             | DIR              | CORP              | US        |       512 | NC      | $-86365.63    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                              | US T-NOTE 10YR                    | CUSIP: 00002TYH6<br>LEI: 549300EX04Q2QBFQTQ27 | Long             | DIR              | CORP              | US        |       118 | NC      | $3251.03      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                              | US T-BOND 30YR                    | CUSIP: 00002USH6<br>LEI: 549300EX04Q2QBFQTQ27 | Long             | DIR              | CORP              | US        |        10 | NC      | $-3437.50     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                              | US T-NOTE ULTRA 10Y               | CUSIP: 0002UXYH6<br>LEI: 549300EX04Q2QBFQTQ27 | Short            | DIR              | CORP              | US        |      -339 | NC      | $266701.57    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                              | US T-NOTE 2YR                     | CUSIP: 00002TUH6<br>LEI: 549300EX04Q2QBFQTQ27 | Long             | DIR              | CORP              | US        |      1430 | NC      | $-15644.46    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-12

**Name of Applicant:** EMPOWER FUNDS, INC.

**Signature:** /s/Kelly New

**Name of Signer:** Kelly New

**Title:** Treasurer, Empower Funds, Inc.