# EDGAR Filing Document

**Accession Number:** 0000751173
**File Stem:** 0000940400-26-021763
**Filing Date:** 2026-5
**Character Count:** 126642
**Document Hash:** eb9a4043df4ae1eb4a0171806e71be6b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-021763.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000940400-26-021763

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MANNING & NAPIER FUND, INC.
- **CENTRAL INDEX KEY:** 0000751173

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04087
- **FILM NUMBER:** 261032152

**BUSINESS ADDRESS:**
- **STREET 1:** 290 WOODCLIFF DRIVE
- **CITY:** FAIRPORT
- **STATE:** NY
- **ZIP:** 14450
- **BUSINESS PHONE:** 585-325-6880

**MAIL ADDRESS:**
- **STREET 1:** 290 WOODCLIFF DRIVE
- **CITY:** FAIRPORT
- **STATE:** NY
- **ZIP:** 14450

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANNING & NAPIER FUND, INC /NY/
- **DATE OF NAME CHANGE:** 20060929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EXETER FUND INC /NY/
- **DATE OF NAME CHANGE:** 19980226

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANNING & NAPIER FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Core Bond Series (Series ID: S000003631)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010097 | Class S      | EXCRX           |
| C000158991 | Class I      | EXCIX           |
| C000206445 | Class Z      | MCBZX           |
| C000206446 | Class W      | MCBWX           |

## Nport-Ex

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | |
|:---|:---|:---|
| CORE BOND SERIES | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **CORPORATE BONDS - 23.9%** | **CORPORATE BONDS - 23.9%** | **CORPORATE BONDS - 23.9%** |
| **Non-Convertible Corporate Bonds- 23.9%** | **Non-Convertible Corporate Bonds- 23.9%** | **Non-Convertible Corporate Bonds- 23.9%** |
| **Communication Services - 0.5%** | **Communication Services - 0.5%** | **Communication Services - 0.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Entertainment - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;The Walt Disney Co., 6.65%, 11/15/2037 | 2620000 | $2948081 |
| **Consumer Discretionary - 2.1%** | **Consumer Discretionary - 2.1%** | **Consumer Discretionary - 2.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Diversified Consumer Services - 1.0%** | &nbsp;&nbsp;&nbsp;&nbsp;**Diversified Consumer Services - 1.0%** | &nbsp;&nbsp;&nbsp;&nbsp;**Diversified Consumer Services - 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Cornell Univ., 4.169%, 6/15/2030 | 6400000 | 6354307 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Hotels, Restaurants & Leisure - 0.5%** | &nbsp;&nbsp;&nbsp;&nbsp;**Hotels, Restaurants & Leisure - 0.5%** | &nbsp;&nbsp;&nbsp;&nbsp;**Hotels, Restaurants & Leisure - 0.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Airbnb, Inc., 4.65%, 3/16/2031 | 3075000 | 3069465 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Household Durables - 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;DR Horton, Inc., 4.85%, 10/15/2030 | 3260000 | 3284344 |
| **Total Consumer Discretionary** |  | 12708116 |
| **Consumer Staples - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Beverages - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Becle S.A.B. de C.V. (Mexico), 2.50%, 10/14/2031<sup>2</sup> | 3600000 | 3078212 |
| **Energy - 2.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels - 2.7%** | &nbsp;&nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels - 2.7%** | &nbsp;&nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels - 2.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Cameron LNG LLC, 3.302%, 1/15/2035<sup>2</sup> | 3660000 | 3181305 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cenovus Energy, Inc. (Canada), 6.75%, 11/15/2039 | 4905000 | 5344670 |
| &nbsp;&nbsp;&nbsp;&nbsp;Energy Transfer LP, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 1/15/2031 | 3150000 | 3121346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 2/1/2042 | 5125000 | 5334173 |
| **Total Energy** |  | 16981494 |
| **Financials - 10.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Banks - 5.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp., (U.S. Secured Overnight Financing Rate + 1.320%), 2.687%, 4/22/2032<sup>3</sup> | 5580000 | 5061518 |
| &nbsp;&nbsp;&nbsp;&nbsp;Citigroup, Inc., (U.S. Secured Overnight Financing Rate + 1.171%), 4.503%, 9/11/2031<sup>3</sup> | 4700000 | 4643814 |
| &nbsp;&nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc., (5 yr. U.S. Treasury Yield Curve Rate T Note Constant Maturity + 1.450%), 5.299%, 1/29/2036<sup>3</sup> | 3130000 | 3102823 |
| &nbsp;&nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc., 2.55%, 2/4/2030 | 3660000 | 3390726 |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co., (3 mo. U.S. Secured Overnight Financing Rate + 3.790%), 4.493%, 3/24/2031<sup>3</sup> | 6210000 | 6178585 |
| &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Private Bank NA, (U.S. Secured Overnight Financing Rate + 0.762%), 4.213%, 2/8/2030<sup>3</sup> | 4710000 | 4661036 |
| &nbsp;&nbsp;&nbsp;&nbsp;The PNC Financial Services Group, Inc., (U.S. Secured Overnight Financing Rate + 1.333%), 4.899%, 5/13/2031<sup>3</sup> | 4870000 | 4898249 |
| &nbsp;&nbsp;&nbsp;&nbsp;Truist Financial Corp., (U.S. Secured Overnight Financing Rate + 0.862%), 1.887%, 6/7/2029<sup>3</sup> | 1910000 | 1807714 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |
| **Financials** (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Banks** (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Bancorp, (U.S. Secured Overnight Financing Rate + 1.230%), 4.653%, 2/1/2029<sup>3</sup> | 1520000 | $1526163 |
|  |  | 35270628 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Capital Markets - 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jefferies Financial Group, Inc., 6.20%, 4/14/2034 | 5930000 | 6042598 |
| &nbsp;&nbsp;&nbsp;&nbsp;The Depository Trust & Clearing Corp., (5 yr. U.S. Treasury Yield Curve Rate T Note Constant Maturity + 2.606%), 3.375%<sup>2,3,4</sup> | 1750000 | 1736876 |
|  |  | 7779474 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Consumer Finance - 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital One Financial Corp., (U.S. Secured Overnight Financing Rate + 2.860%), 6.377%, 6/8/2034<sup>3</sup> | 6215000 | 6549131 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Diversified Financial Services - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Atlas Warehouse Lending Co. LP, 4.95%, 11/15/2030<sup>2</sup> | 3110000 | 3050243 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Financial Services - 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Apollo Global Management, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 8/12/2035 | 3200000 | 3101807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 3/30/2036 | 3150000 | 3152164 |
|  |  | 6253971 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Insurance - 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SiriusPoint Ltd. (Sweden), 7.00%, 4/5/2029 | 3420000 | 3565242 |
| **Total Financials** |  | 62468689 |
| **Industrials - 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Construction Materials - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Materials, Inc., 5.00%, 3/15/2036 | 3200000 | 3061133 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Trading Companies & Distributors - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC - AerCap Global Aviation Trust (Ireland), 3.00%, 10/29/2028 | 3490000 | 3360725 |
| **Total Industrials** |  | 6421858 |
| **Information Technology - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Software - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Constellation Software, Inc. (Canada), 5.461%, 2/16/2034<sup>2</sup> | 3130000 | 3066900 |
| **Materials - 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Metals & Mining - 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corp. Nacional del Cobre de Chile (Chile), 5.529%, 1/30/2037<sup>2</sup> | 4625000 | 4529465 |

---

**1** 

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | | |
|:---|:---|:---|:---|
| CORE BOND SERIES | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |
| **Materials** (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Metals & Mining** (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Newcastle Coal Infrastructure Group Pty Ltd. (Australia), 4.40%, 9/29/2027<sup>2</sup> | 3600640 | $| 3575718 |
| **Total Materials** |  |  | 8105183 |
| **Real Estate - 2.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Specialized REITs - 2.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Safehold GL Holdings LLC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85%, 1/15/2032 | 2736000 |  | 2445533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 4/1/2034 | 3286000 |  | 3456033 |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA Tower Trust, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.599%, 1/15/2028<sup>2</sup> | 5225000 |  | 5313344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.831%, 10/15/2029<sup>2</sup> | 2730000 |  | 2741893 |
| **Total Real Estate** |  |  | 13956803 |
| **Utilities - 2.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Electric Utilities - 1.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alexander Funding Trust II, 7.467%, 7/31/2028<sup>2</sup> | 3355000 |  | 3532197 |
| &nbsp;&nbsp;&nbsp;&nbsp;Duke Energy Florida LLC, 6.40%, 6/15/2038 | 5880000 |  | 6409408 |
|  |  |  | 9941605 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 1.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Palomino Funding Trust I, 7.233%, 5/17/2028<sup>2</sup> | 6750000 |  | 7058893 |
| **Total Utilities** |  |  | 17000498 |
| **TOTAL CORPORATE BONDS** |  |  | **146735834** |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $146,371,590) |  |  |  |
| **ASSET-BACKED SECURITIES - 13.8%** | **ASSET-BACKED SECURITIES - 13.8%** | **ASSET-BACKED SECURITIES - 13.8%** | **ASSET-BACKED SECURITIES - 13.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;ALLO Issuer LLC, Series 2024-1A, Class A2, 5.94%, 7/20/2054<sup>2</sup> | 1250000 |  | 1262193 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amur Equipment Finance Receivables XIV LLC, <br> Series 2024-2A, Class B, 5.20%, 7/21/2031<sup>2</sup> | 3444000 |  | 3471102 |
| &nbsp;&nbsp;&nbsp;&nbsp;CF Hippolyta Issuer LLC, <br> Series 2020-1, Class B1, 2.28%, 7/15/2060<sup>2</sup> | 1484096 |  | 912718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A, Class B1, 1.98%, 3/15/2061<sup>2</sup> | 1658708 |  | 1010454 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cloud Capital Holdco LP, Series 2024-1A, Class A2, 5.781%, 11/22/2049<sup>2</sup> | 3250000 |  | 3243011 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cogent Ipv4 LLC, Series 2024-1A, Class A2, 7.924%, 5/25/2054<sup>2</sup> | 940000 |  | 968394 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commonbond Student Loan Trust, Series 2019-AGS, Class A1, 2.54%, 1/25/2047<sup>2</sup> | 253499 |  | 233065 |
| &nbsp;&nbsp;&nbsp;&nbsp;Compass Datacenters Issuer II LLC, Series 2024-2A, Class A1, 5.022%, 8/25/2049<sup>2</sup> | 2250000 |  | 2242623 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **ASSET-BACKED SECURITIES** (continued) | **ASSET-BACKED SECURITIES** (continued) | **ASSET-BACKED SECURITIES** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;CoreVest American Finance Trust, Series 2020-3, Class A, 1.358%, 8/15/2053<sup>2</sup> | 47611 | $47375 |
| &nbsp;&nbsp;&nbsp;&nbsp;DataBank Issuer, Series 2023-1A, Class A2, 5.116%, 2/25/2053<sup>2</sup> | 1180000 | 1170477 |
| &nbsp;&nbsp;&nbsp;&nbsp;ECMC Group Student Loan Trust, <br> Series 2024-1A, Class A, (U.S. Secured Overnight Financing Rate 30 Day Average + 1.150%), 4.812%, 11/27/2073<sup>2,5</sup> | 1977302 | 1991246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class A, (U.S. Secured Overnight Financing Rate 30 Day Average + 1.050%), 4.712%, 11/25/2074<sup>2,5</sup> | 3065501 | 3073451 |
| &nbsp;&nbsp;&nbsp;&nbsp;ExteNet Issuer LLC, Series 2024-1A, Class A2, 5.335%, 7/25/2054<sup>2</sup> | 3000000 | 3009386 |
| &nbsp;&nbsp;&nbsp;&nbsp;FIP Master Funding LLC, <br> Series 2025-1A, Class A2, 5.16%, 10/15/2055<sup>2</sup> | 2996281 | 2944822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2026-1A, Class A1, 4.90%, 3/15/2056<sup>2</sup> | 3900000 | 3833929 |
| &nbsp;&nbsp;&nbsp;&nbsp;GGAM Master Trust International Ltd., <br> Series 2025-1A, Class A, (Cayman Islands), 5.923%, 9/30/2060<sup>2</sup> | 2948509 | 2937887 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodgreen Trust, Series 2020-1A, Class A, 2.63%, 4/15/2055<sup>2</sup> | 1041642 | 882495 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hageman Capital Issuer Trust, Series 2025-1, Class A, 6.40%, 8/9/2056<sup>2</sup> | 2653933 | 2591068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hotwire Funding LLC, Series 2023-1A, Class A2, 5.687%, 5/20/2053<sup>2</sup> | 1600000 | 1610107 |
| &nbsp;&nbsp;&nbsp;&nbsp;LEDN Issuer Trust, Series 2026-1A, Class A, 6.748%, 2/25/2041 (Acquired 02/18/2026, cost $4,709,933)<sup>6</sup> | 4710000 | 4712323 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lyra Music Assets Delaware LP, Series 2025-1A, Class A2, 5.604%, 9/20/2065<sup>2</sup> | 2871106 | 2893341 |
| &nbsp;&nbsp;&nbsp;&nbsp;Navient Private Education Refi Loan Trust, Series 2024-A, Class A, 5.66%, 10/15/2072<sup>2</sup> | 4621931 | 4691099 |
| &nbsp;&nbsp;&nbsp;&nbsp;Oxford Finance Credit Fund III LP, Series 2025-A, Class A2, 5.878%, 8/14/2034<sup>2</sup> | 2700000 | 2682443 |
| &nbsp;&nbsp;&nbsp;&nbsp;Oxford Finance Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1A, Class A2, 3.602%, 2/15/2030<sup>2</sup> | 1199801 | 1168030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2, 6.716%, 2/15/2031<sup>2</sup> | 1879276 | 1892590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2, 5.413%, 2/15/2035<sup>2</sup> | 2700000 | 2692999 |
| &nbsp;&nbsp;&nbsp;&nbsp;PEAR LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1, Class A, 2.60%, 1/15/2034<sup>2</sup> | 54769 | 54711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1, Class A, 7.42%, 7/15/2035<sup>2</sup> | 845692 | 862572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A, 6.95%, 2/15/2036<sup>2</sup> | 615343 | 619998 |

---

**2** 

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | | |
|:---|:---|:---|:---|
| CORE BOND SERIES | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE | VALUE |
| **ASSET-BACKED SECURITIES** (continued) | **ASSET-BACKED SECURITIES** (continued) | **ASSET-BACKED SECURITIES** (continued) | **ASSET-BACKED SECURITIES** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;SLC Student Loan Trust, Series 2005-3, Class A4, (U.S. Secured Overnight Financing Rate 90 Day Average + 0.412%), 4.103%, 12/15/2039<sup>5</sup> | 4622281 | $| 4505755 |
| &nbsp;&nbsp;&nbsp;&nbsp;SMB Private Education Loan Trust, <br> Series 2021-A, Class A2A1, (1 mo. U.S. Secured Overnight Financing Rate + 0.844%), 4.517%, 1/15/2053<sup>2,5</sup> | 3220429 |  | 3182947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-D, Class A1A, 5.38%, 7/15/2053<sup>2</sup> | 4302184 |  | 4352962 |
| &nbsp;&nbsp;&nbsp;&nbsp;SoFi Professional Loan Program Trust, <br> Series 2020-A, Class A2FX, 2.54%, 5/15/2046<sup>2</sup> | 2400174 |  | 2319658 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tricon Residential Trust, Series 2024- SFR3, Class A, 4.50%, 8/17/2041<sup>2</sup> | 5445668 |  | 5372001 |
| &nbsp;&nbsp;&nbsp;&nbsp;VB-S1 Issuer LLC, Series 2026-1A, Class C2, 4.693%, 3/15/2056<sup>2</sup> | 3825000 |  | 3758234 |
| &nbsp;&nbsp;&nbsp;&nbsp;VelocitySBA Loan Trust, Series 2026-1, Class A, (U.S. Secured Overnight Financing Rate 30 Day Average + 2.500%), 6.173%, 1/20/2051 (Acquired 03/17/2026, cost $1,529,212)<sup>5,6</sup> | 1550000 |  | 1530625 |
| **TOTAL ASSET-BACKED SECURITIES** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $85,983,964) |  |  | **84728091** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES - 9.2%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES - 9.2%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES - 9.2%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES - 9.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Brean Asset Backed Securities Trust, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-RM2, Class A, 1.75%, 10/25/2061<sup>2,7</sup> | 1055377 |  | 1039602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RM13, Class A1, 4.25%, 10/25/2065<sup>2</sup> | 1997643 |  | 1934195 |
| &nbsp;&nbsp;&nbsp;&nbsp;BX Commercial Mortgage Trust, Series 2026-CSMO, Class A, (1 mo. U.S. Secured Overnight Financing Rate + 1.400%), 5.073%, 2/15/2043<sup>2,5</sup> | 3060000 |  | 3056846 |
| &nbsp;&nbsp;&nbsp;&nbsp;CIM Trust, Series 2019-INV1, Class A1, 4.00%, 2/25/2049<sup>2,7</sup> | 7428 |  | 7078 |
| &nbsp;&nbsp;&nbsp;&nbsp;Citigroup Mortgage Loan Trust, Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV1, Class A3A, 2.50%, 5/25/2051<sup>2,7</sup> | 730251 |  | 605092 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit Suisse Mortgage Capital Trust, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-6, Class 2A1, 3.50%, 8/25/2043<sup>2,7</sup> | 144979 |  | 135188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-IVR2, Class A2, 3.00%, 4/25/2043<sup>2,7</sup> | 148586 |  | 135696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-IVR3, Class A1, 2.50%, 5/25/2043<sup>2,7</sup> | 43088 |  | 38897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-TH1, Class A1, 2.13%, 2/25/2043<sup>2,7</sup> | 26774 |  | 23770 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deephaven Residential Mortgage Trust, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3, Class A1, 1.194%, 8/25/2066<sup>2,7</sup> | 3658694 |  | 3249689 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae REMICS, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-13, Class PA, 3.00%, 3/25/2048 | 1271928 |  | 1134490 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) | **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) | **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae REMICS, (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-31, Class KP, 3.50%, 7/25/2047 | 1239 | $1233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-69, Class WJ, 1.50%, 10/25/2050 | 977601 | 853420 |
| &nbsp;&nbsp;&nbsp;&nbsp;Finance of America Structured Securities Trust, Series 2022-S6, Class A1, 3.00%, 7/25/2061<sup>2</sup> | 1078964 | 1094737 |
| &nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac REMICS, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 5189, Class CP, 2.50%, 6/25/2049 | 1073710 | 955497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 5501, Class JL, 3.50%, 6/25/2048 | 3275085 | 2664316 |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-54, Class AH, 2.60%, 12/16/2056 | 33386 | 31356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-64, Class BQ, 5.00%, 4/20/2054 | 3908348 | 3930203 |
| &nbsp;&nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Corp. Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-PJ3, Class A14, 3.00%, 10/25/2050<sup>2,7</sup> | 400577 | 347322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV1, Class A9, (U.S. Secured Overnight Financing Rate 30 Day Average + 0.850%), 4.517%, 12/25/2051<sup>2,5</sup> | 1367595 | 1276116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PJ6, Class A8, 2.50%, 11/25/2051<sup>2,7</sup> | 962560 | 865778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PJ9, Class A8, 2.50%, 2/26/2052<sup>2,7</sup> | 956292 | 860380 |
| &nbsp;&nbsp;&nbsp;&nbsp;Imperial Fund Mortgage Trust, Series 2021-NQM3, Class A1, 1.595%, 11/25/2056<sup>2,7</sup> | 1097506 | 944346 |
| &nbsp;&nbsp;&nbsp;&nbsp;JP Morgan Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-2, Class 1A1, 3.00%, 6/25/2029<sup>2,7</sup> | 7318 | 7228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-6, Class A3, 3.50%, 12/25/2048<sup>2,7</sup> | 12676 | 11512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4, Class A3B, 2.00%, 8/25/2051<sup>2,7</sup> | 1492228 | 1171182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-6, Class A12A, 3.50%, 11/25/2052<sup>2,7</sup> | 1291156 | 1258508 |
| &nbsp;&nbsp;&nbsp;&nbsp;JP Morgan Seasoned Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A3, 4.337%, 1/25/2063<sup>2,7</sup> | 1746307 | 1675516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class A3, 3.684%, 1/25/2063<sup>2,7</sup> | 2319399 | 2082780 |
| &nbsp;&nbsp;&nbsp;&nbsp;New Residential Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-1A, Class A, 3.75%, 1/25/2054<sup>2,7</sup> | 64648 | 63684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-3A, Class AFX3, 3.75%, 11/25/2054<sup>2,7</sup> | 31875 | 30669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-2A, Class A1, 3.75%, 8/25/2055<sup>2,7</sup> | 57689 | 56030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4A, Class A1, 3.75%, 11/25/2056<sup>2,7</sup> | <br>53468<br>| 51231 |

---

**3** 

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | |
|:---|:---|:---|
| CORE BOND SERIES | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) | **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) | **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;OBX Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-EXP1, Class B21A, 5.171%, 2/25/2060<sup>2,7</sup> | 7396305 | $7474195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-INV1, Class A1, 3.00%, 12/25/2051<sup>2,7</sup> | 1098617 | 951895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-NQM2, Class A1A, 3.783%, 1/25/2062<sup>2,8</sup> | 2384936 | 2317841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM1, Class A1, 5.928%, 11/25/2063<sup>2,8</sup> | 882755 | 885226 |
| &nbsp;&nbsp;&nbsp;&nbsp;PCG LLC, Series 2023-1, (1 mo. U.S. Secured Overnight Financing Rate + 6.000%), 9.679%, 7/25/2029 (Acquired 07/24/2023, cost $174,821)<sup>5,6</sup> | 174819 | 174805 |
| &nbsp;&nbsp;&nbsp;&nbsp;PMT Loan Trust, Series 2013-J1, Class A9, 3.50%, 9/25/2043<sup>2,7</sup> | 509549 | 475447 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provident Funding Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2, Class A2A, 2.00%, 4/25/2051<sup>2,7</sup> | 1269691 | 1105499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV1, Class A1, 2.50%, 8/25/2051<sup>2,7</sup> | 2224087 | 1837604 |
| &nbsp;&nbsp;&nbsp;&nbsp;RCKT Mortgage Trust, Series 2021-6, Class A1, 2.50%, 12/25/2051<sup>2,7</sup> | 1350932 | 1121025 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4, Class A1, 2.325%, 4/25/2043<sup>7</sup> | 1180960 | 1042416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-6, Class A2, 3.00%, 5/25/2043<sup>7</sup> | 318826 | 288446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-7, Class A2, 3.00%, 6/25/2043<sup>7</sup> | 23752 | 21486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-8, Class A1, 3.00%, 6/25/2043<sup>7</sup> | 67643 | 61581 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sutherland Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-SBC8, Class A, 2.86%, 4/25/2041<sup>2,7</sup> | 288612 | 275517 |
| &nbsp;&nbsp;&nbsp;&nbsp;Towd Point Mortgage Trust, Series 2019-HY1, Class A1, (1 mo. U.S. Secured Overnight Financing Rate + 1.114%), 4.793%, 10/25/2048<sup>2,5</sup> | 36419 | 36431 |
| &nbsp;&nbsp;&nbsp;&nbsp;Velocity Commercial Capital Loan Trust, Series 2026-1, Class A, 5.10%, 2/25/2056<sup>2,7</sup> | 3482133 | 3435455 |
| &nbsp;&nbsp;&nbsp;&nbsp;Verus Securitization Trust, Series 2024-R1, Class A2, 5.47%, 9/25/2069<sup>2,8</sup> | 2820424 | 2825604 |
| &nbsp;&nbsp;&nbsp;&nbsp;WinWater Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-1, Class A1, 3.50%, 1/20/2045<sup>2,7</sup> | 12769 | 11996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-2, Class A11, 3.50%, 2/20/2045<sup>2,7</sup> | 358921 | 333549 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $57,924,170) |  | **56269605** |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **FOREIGN GOVERNMENT BONDS - 0.6%** | **FOREIGN GOVERNMENT BONDS - 0.6%** | **FOREIGN GOVERNMENT BONDS - 0.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Funding Luxco S.A.R.L (Mexico), 5.50%, 8/17/2030<sup>2</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $3,776,520) | 3785000 | $**3799345** |
| **MUNICIPAL BONDS - 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Government of Nashville & Davidson County, Public Impt., G.O. Bond, 5.707%, 7/1/2034 | 3005000 | 3112834 |
| &nbsp;&nbsp;&nbsp;&nbsp;South Carolina Public Service Authority, Series B, Revenue Bond, 2.329%, 12/1/2028 | 600000 | 571218 |
| **TOTAL MUNICIPAL BONDS** |  | **3684052** |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $3,742,116) |  |  |
| **U.S. TREASURY SECURITIES - 37.3%** |  |  |
| **U.S. Treasury Bonds - 20.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.375%, 2/15/2042 | 50072000 | 36489970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 5/15/2047 | 50056000 | 37197865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 2/15/2053 | 47808000 | 38365920 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Inflation Indexed Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.125%, 2/15/2041 | 6474118 | 6259915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.375%, 2/15/2055 | 6586493 | 6114119 |
| **Total U.S. Treasury Bonds** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $128,768,695) |  | 124427789 |
| **U.S. Treasury Notes - 17.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Note |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.875%, 11/15/2030 | 20373000 | 17757934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.375%, 11/15/2031 | 20702000 | 17952516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 11/15/2032 | 12320000 | 12325775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/15/2033 | 18174000 | 18551678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 11/15/2034 | 19560000 | 19553887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/15/2035 | 19338000 | 18863615 |
| **Total U.S. Treasury Notes** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $104,831,460) |  | 105005405 |
| **TOTAL U.S. TREASURY SECURITIES** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $233,600,155) |  | **229433194** |
| **U.S. GOVERNMENT AGENCIES - 11.9%** |  |  |
| **Mortgage-Backed Securities - 11.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA3463, UMBS, 4.00%, 9/1/2033 | 49538 | 49152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA1834, UMBS, 4.50%, 2/1/2034 | 18072 | 18129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #995876, UMBS, 6.00%, 11/1/2038 | 36172 | 38061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA4203, UMBS, 2.50%, 12/1/2040 | 1987718 | 1806924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AI5172, UMBS, 4.00%, 8/1/2041 | 27180 | 26459 |

---

**4** 

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | |
|:---|:---|:---|
| CORE BOND SERIES | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **U.S. GOVERNMENT AGENCIES** (continued) | **U.S. GOVERNMENT AGENCIES** (continued) | **U.S. GOVERNMENT AGENCIES** (continued) |
| **Mortgage-Backed Securities** (continued) | **Mortgage-Backed Securities** (continued) | **Mortgage-Backed Securities** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AH3858, UMBS, 4.50%, 8/1/2041 | 116558 | $116010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA4633, UMBS, 3.50%, 6/1/2042 | 1542308 | 1472122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FS4616, UMBS, 5.00%, 5/1/2043 | 3343545 | 3368442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AL7729, UMBS, 4.00%, 6/1/2043 | 33870 | 32973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AX1685, UMBS, 3.50%, 11/1/2044 | 306903 | 289924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AY8604, UMBS, 3.50%, 4/1/2045 | 48606 | 45436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #BC6764, UMBS, 3.50%, 4/1/2046 | 21415 | 19968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #BC8677, UMBS, 4.00%, 5/1/2046 | 15974 | 15322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AS7931, UMBS, 3.50%, 9/1/2046 | 1906208 | 1769181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AS8522, UMBS, 3.00%, 12/1/2046 | 7179658 | 6353076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #BD1191, UMBS, 3.50%, 1/1/2047 | 131087 | 122225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #BE7845, UMBS, 4.50%, 2/1/2047 | 27131 | 26730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FS8139, UMBS, 2.00%, 4/1/2047 | 10679838 | 8665807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA3007, UMBS, 3.00%, 4/1/2047 | 527342 | 474853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FM2232, UMBS, 4.00%, 6/1/2048 | 75454 | 72167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AL8674, 5.621%, 1/1/2049 | 162623 | 168491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FS9332, UMBS, 3.00%, 3/1/2050 | 5737060 | 5176254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #CA5518, UMBS, 3.00%, 4/1/2050 | 3698360 | 3313737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FS7251, UMBS, 3.00%, 5/1/2052 | 8573063 | 7604325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA4807, UMBS, 5.50%, 11/1/2052 | 2649182 | 2687639 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL<br> AMOUNT<sup>1</sup>/<br> SHARES | VALUE |
| **U.S. GOVERNMENT AGENCIES** (continued) | **U.S. GOVERNMENT AGENCIES** (continued) | **U.S. GOVERNMENT AGENCIES** (continued) |
| **Mortgage-Backed Securities** (continued) | **Mortgage-Backed Securities** (continued) | **Mortgage-Backed Securities** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FS7999, UMBS, 5.50%, 4/1/2054 | 10296990 | $10456316 |
| &nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #D98711, 4.50%, 7/1/2031 | 23998 | 24111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #C91746, 4.50%, 12/1/2033 | 20984 | 21076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #C91771, 4.50%, 6/1/2034 | 30543 | 30675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #C91780, 4.50%, 7/1/2034 | 29590 | 29717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #C91832, 3.50%, 6/1/2035 | 136337 | 132739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #G08268, 5.00%, 5/1/2038 | 194795 | 198345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #G05900, 6.00%, 3/1/2040 | 12660 | 13338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #A92889, 4.50%, 7/1/2040 | 83056 | 82994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #A93451, 4.50%, 8/1/2040 | 233980 | 233805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #G60513, 5.00%, 7/1/2041 | 180476 | 183775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #G60071, 4.50%, 7/1/2042 | 76382 | 76325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #RB5188, UMBS, 4.00%, 10/1/2042 | 2666777 | 2596961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #Q17513, 3.50%, 4/1/2043 | 50516 | 47896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #Q37857, 4.00%, 12/1/2045 | 177230 | 170834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #G60855, 4.50%, 12/1/2045 | 71020 | 70441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #Q38388, 4.00%, 1/1/2046 | 153564 | 148383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #Q47544, 4.00%, 3/1/2047 | 160388 | 154059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #Q47130, 4.50%, 4/1/2047 | 23527 | 23109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #SD8044, UMBS, 3.00%, 2/1/2050 | 2243131 | 1999346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #SD1360, UMBS, 5.50%, 7/1/2052 | 2921614 | 2963044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #RJ0062, UMBS, 5.00%, 10/1/2053 | 2781832 | 2766589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #SD4235, UMBS, 6.00%, 11/1/2053 | 1253484 | 1295245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #SD5413, UMBS, 5.00%, 5/1/2054 | 5894930 | 5836268 |
| **TOTAL U.S. GOVERNMENT AGENCIES** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $72,943,622) |  | **73288798** |
| **SHORT-TERM INVESTMENT - 2.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.53%<sup>9</sup> <br> (Identified Cost $12,161,194) | 12161194 | **12161194** |
| **TOTAL INVESTMENTS - 99.3%** |  | **610100113** |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $616,503,331) |  |  |
| **OTHER ASSETS, LESS LIABILITIES - 0.7%** |  | **4333390** |
| **NET ASSETS - 100%** |  | $**614433503** |

---

G.O. Bond - General Obligation Bond<br> Impt. - Improvement<br> REIT - Real Estate Investment Trust<br> REMICS - Real Estate Mortgage Investment Conduits<br> UMBS - Uniform Mortgage-Backed Securities

**5** 

**Investment Portfolio - March 31, 2026**

(unaudited)

<sup>1</sup>Amount is stated in USD unless otherwise noted.

<sup>2</sup>Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act") and determined to be liquid under the Fund's Liquidity Risk Management Program. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at March 31, 2026 was $163,754,135, which represented 26.7% of the Series' Net Assets.

<sup>3</sup>Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of March 31, 2026.

<sup>4</sup>Security is perpetual in nature and has no stated maturity date.

<sup>5</sup>Floating rate security. Rate shown is the rate in effect as of March 31, 2026.

<sup>6</sup>Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act") and determined to be illiquid under the Fund's Liquidity Risk Management Program. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of such securities at March 31, 2026 was $6,417,753, or 1.0% of the Series' Net Assets.

<sup>7</sup>Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of March 31, 2026.

<sup>8</sup>Represents a step-up bond that pays initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown reflects the current coupon as of March 31, 2026.

<sup>9</sup>Rate shown is the current yield as of March 31, 2026.

The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor's, a division of S&P Global Inc. (S&P), and is licensed for use by Manning & Napier when referencing GICS sectors. Neither MSCI, S&P, nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification, nor shall any such party have any liability therefrom.

**Fair Value Information:**

Various inputs are used in determining the value of the Series' assets or liabilities carried at fair value. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical assets and liabilities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Level 3 includes significant unobservable inputs (including the Series' own assumptions in determining the fair value of investments). A financial instrument's level within the fair value hierarchy is based on the lowest level of any input both individually and in aggregate that is significant to the fair value measurement. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuation levels used for major security types as of March 31, 2026 in valuing the Series' assets or liabilities carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;DESCRIPTION | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
| &nbsp;&nbsp;&nbsp;Assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury and other U.S. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government agencies | $302721992 | $— | $302721992 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;States and political subdivisions |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(municipals) | 3684052 |  | 3684052 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate debt: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication Services | 2948081 |  | 2948081 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Discretionary | 12708116 |  | 12708116 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Staples | 3078212 |  | 3078212 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 16981494 |  | 16981494 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | 62468689 |  | 62468689 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 6421858 |  | 6421858 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information Technology | 3066900 |  | 3066900 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 8105183 |  | 8105183 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real Estate | 13956803 |  | 13956803 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | 17000498 |  | 17000498 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | 84728091 |  | 84728091 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage-backed securities | 56269605 |  | 56269605 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government bonds | 3799345 |  | 3799345 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investment | 12161194 | 12161194 |  |  |
| &nbsp;&nbsp;&nbsp;Total assets | $610100113 | $12161194 | $597938919 | $— |

---

**6** 

**Investment Portfolio - March 31, 2026**

(unaudited)

There were no Level 3 securities held by the Series as of December 31, 2025 or March 31, 2026.

The Investment Portfolio should be read in conjunction with the financial statements and notes to financial statements, which are included in the Series' audited annual report or unaudited semi-annual report. These reports include additional information about the Series' security valuation policies and about certain security types invested in by the Series.

**7**

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Manning & Napier Fund, Inc.

- **b. Investment Company Act file number:** 811-04087

- **c. CIK number of Registrant:** 0000751173

- **d. LEI of Registrant:** 549300B31SDCBSJSN672

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

  - **Street Address 1:** 290 Woodcliff Drive

  - **City:** Fairport

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 14450

  - **Telephone number:** 585-325-6880

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

- **a. Name of Series:** Core Bond Series

- **b. EDGAR series identifier (if any):** S000003631

- **c. LEI of Series:** 549300QXKQ03P57OC626

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

- **a. Date of fiscal year-end:** 2026-12-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $614977605.46

**Total Liabilities:** $102610.58

**Net Assets:** $614874994.88

**Cash Not Reported:** $1281931.53

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1.19878000 | **1-Year:** 18014.66026000 | **5-Year:** 104946.28074000 | **10-Year:** 50889.98782000 | **30-Year:** 409.65885000

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

- **3-Month:** 86.48731000 | **1-Year:** 1060.46038000 | **5-Year:** 2480.40686000 | **10-Year:** 3946.98149000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000206445 | 0.15%                | 1.85%                | -1.94%               |
| Class ID C000206446 | 0.27%                | 1.86%                | -1.91%               |
| Class ID C000158991 | 0.14%                | 1.95%                | -2.05%               |
| Class ID C000010097 | 0.13%                | 1.82%                | -1.96%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1012099.97              | $-2005274.31                               |
| Month 2  | $371696.33               | $9112222.56                                |
| Month 3  | $750929.14               | $-15298349.17                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PROVIDENT FUNDING MORTGAGE TRUST 2021-INV1                                          | PFMT 2021-INV1 A1                                   | CUSIP: 74387VAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2224087 | PA      | $1837603.85   | 0.30%             | 2051-08-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FN MA4633                                           | CUSIP: 31418EEF3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1542308 | PA      | $1472121.96   | 0.24%             | 2042-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Extenet Issuer Llc                                                                  | EXTNT 2024-1A A2                                    | CUSIP: 30227XAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3009386.24   | 0.49%             | 2054-07-25      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2016-4                                          | NRZT 2016-4A A1                                     | CUSIP: 64829LAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     53468 | PA      | $51230.55     | 0.01%             | 2056-11-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Safehold GL Holdings LLC                                                            | SAFE 6.1 04/01/34                                   | CUSIP: 785931AA4<br>LEI: 54930012UY5Z4Q8NL108 | Long             | DBT              | CORP              | US        |   3286000 | PA      | $3456033.15   | 0.56%             | 2034-04-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FN AY8604                                           | CUSIP: 3138YNR25<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     48606 | PA      | $45436.20     | 0.01%             | 2045-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Constellation Software Inc.                                                         | CSUCN 5.461 02/16/34 144A                           | CUSIP: 21037XAD2<br>LEI: 549300B6PYHMCTDWQV29 | Long             | DBT              | CORP              | CA        |   3130000 | PA      | $3066900.39   | 0.50%             | 2034-02-16      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN FS7999                                           | CUSIP: 3140XP3H0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  10296990 | PA      | $10456316.06  | 1.70%             | 2054-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust 2015-2                                          | NRZT 2015-2A A1                                     | CUSIP: 64829EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     57689 | PA      | $56030.48     | 0.01%             | 2055-08-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Apollo Global Management Inc                                                        | APO 5.15 08/12/35                                   | CUSIP: 03769MAE6<br>LEI: 254900LMFT1CY9IYB476 | Long             | DBT              | CORP              | US        |   3200000 | PA      | $3101807.30   | 0.50%             | 2035-08-12      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| HOTWIRE FUNDING LLC                                                                 | HWIRE 2023-1A A2                                    | CUSIP: 44148HAA1<br>LEI: 254900ZCO90MCT7Y9348 | Long             | ABS-O            | CORP              | US        |   1600000 | PA      | $1610107.26   | 0.26%             | 2053-05-20      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| ALLO ISSUER LLC                                                                     | ALLO 2024-1A A2                                     | CUSIP: 01983KAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1250000 | PA      | $1262193.04   | 0.21%             | 2054-07-20      | Fixed         | 5.94%                 | No            |                  2 | On Loan: No      |
| ECMC GROUP STUDENT LOAN TRUST 2025-2                                                | ECMC 2025-2A A                                      | CUSIP: 26827YAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3065501 | PA      | $3073451.14   | 0.50%             | 2074-11-26      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| Newcastle Coal Infrastructure Group Pty Ltd                                         | NCIAU 4.4 09/29/27 144A                             | CUSIP: 65106WAA3<br>LEI: 549300YAJ8XYYGW2TZ32 | Long             | DBT              | CORP              | AU        |   3600640 | PA      | $3575718.40   | 0.58%             | 2027-09-29      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG G05900                                           | CUSIP: 3128M73H7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     12660 | PA      | $13337.74     | 0.00%             | 2040-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AH3858                                           | CUSIP: 3138A5JC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    116558 | PA      | $116010.28    | 0.02%             | 2041-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG Q38388                                           | CUSIP: 3132QVKA8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    153564 | PA      | $148382.99    | 0.02%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 4.25 11/15/34                                     | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  19560000 | PA      | $19553887.50  | 3.18%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 1.375 11/15/31                                    | CUSIP: 91282CDJ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20702000 | PA      | $17952515.63  | 2.92%             | 2031-11-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AL7729                                           | CUSIP: 3138EQST0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     33870 | PA      | $32972.44     | 0.01%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG G60513                                           | CUSIP: 31335ASA7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    180476 | PA      | $183775.40    | 0.03%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AS8522                                           | CUSIP: 3138WJPG7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7179658 | PA      | $6353076.38   | 1.03%             | 2046-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN MA1834                                           | CUSIP: 31418BBC9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     18072 | PA      | $18128.81     | 0.00%             | 2034-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Compass Datacenters Issuer II LLC                                                   | CMPDC 2024-2A A1                                    | CUSIP: 20469AAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2250000 | PA      | $2242622.47   | 0.36%             | 2049-08-25      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| Alexander Funding Trust II                                                          | NRG 7.467 07/31/28                                  | CUSIP: 014916AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3355000 | PA      | $3532197.55   | 0.57%             | 2028-07-31      | Fixed         | 7.47%                 | No            |                  2 | On Loan: No      |
| SBA Tower Trust                                                                     | SBATOW 6.599 01/15/28 144A                          | CUSIP: 78403DAZ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5225000 | PA      | $5313344.30   | 0.86%             | 2028-01-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| SLC STUDENT LOAN TRUST 2005-2                                                       | SLCLT 2005-3 A4                                     | CUSIP: 784420AQ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4622281 | PA      | $4505754.66   | 0.73%             | 2039-12-15      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| WINWATER MORTGAGE LOAN TRUST 2015-1                                                 | WIN 2015-1 A1                                       | CUSIP: 97652TAA1<br>LEI: 5493006H0W2XGUBIBK91 | Long             | ABS-O            | CORP              | US        |     12769 | PA      | $11996.15     | 0.00%             | 2045-01-20      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN CA5518                                           | CUSIP: 3140QDDY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3698360 | PA      | $3313737.26   | 0.54%             | 2050-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG G08268                                           | CUSIP: 3128MJJN1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    194795 | PA      | $198344.76    | 0.03%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                                     | FHR 5189 CP                                         | CUSIP: 3137H5U88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1073710 | PA      | $955497.06    | 0.16%             | 2049-06-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SEASONED MORTGAGE TRUST 2024-1                                            | JPSMT 2024-1 A3                                     | CUSIP: 61777HAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1746307 | PA      | $1675516.03   | 0.27%             | 2063-01-25      | Variable      | 4.34%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN MA3463                                           | CUSIP: 31418CZ56<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     49538 | PA      | $49152.14     | 0.01%             | 2033-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEDN ISSUER TRUST 2026-1                                                            | LEDN 2026-1A A                                      | CUSIP: 523299AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4710000 | PA      | $4712322.50   | 0.77%             | 2041-02-25      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2014-3                                          | NRZT 2014-3A AFX3                                   | CUSIP: 64829DAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     31875 | PA      | $30668.56     | 0.00%             | 2054-11-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| ECMC GROUP STUDENT LOAN TRUST 2024-1                                                | ECMC 2024-1A A                                      | CUSIP: 26828PAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1977302 | PA      | $1991245.65   | 0.32%             | 2073-11-27      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Amur Equipment Finance Receivables VI LLC                                           | AXIS 2024-2A B                                      | CUSIP: 03238BAC7<br>LEI: 254900VBZK8DVZNJFJ70 | Long             | ABS-O            | CORP              | US        |   3444000 | PA      | $3471102.33   | 0.56%             | 2031-07-21      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | GNR 2017-54 AH                                      | CUSIP: 38379RRX3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     33386 | PA      | $31356.15     | 0.01%             | 2056-12-16      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANKS                                                             | FR SD8044                                           | CUSIP: 3132DV5D3<br>LEI: 2549001DPIFGXC1TOL40 | Long             | ABS-MBS          | USGSE             | US        |   2243131 | PA      | $1999346.37   | 0.33%             | 2050-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                         | COF V6.377 06/08/34                                 | CUSIP: 14040HDA0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   6215000 | PA      | $6549131.02   | 1.07%             | 2034-06-08      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | TII 2.125 02/15/41                                  | CUSIP: 912810QP6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6474118 | PA      | $6259915.32   | 1.02%             | 2041-02-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 0.875 11/15/30                                    | CUSIP: 91282CAV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20373000 | PA      | $17757934.45  | 2.89%             | 2030-11-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN FS8139                                           | CUSIP: 3140XQBH9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  10679838 | PA      | $8665806.82   | 1.41%             | 2047-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN BC8677                                           | CUSIP: 3140F4UB0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     15974 | PA      | $15321.42     | 0.00%             | 2046-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Duke Energy Florida LLC                                                             | DUK 6.4 06/15/38                                    | CUSIP: 341099CL1<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |   5880000 | PA      | $6409407.84   | 1.04%             | 2038-06-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Eagle Materials Inc.                                                                | EXP 5 03/15/36                                      | CUSIP: 26969PAC2<br>LEI: 529900KRXRGXL61SG039 | Long             | DBT              | CORP              | US        |   3200000 | PA      | $3061133.01   | 0.50%             | 2036-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AL8674                                           | CUSIP: 3138ETT89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    162623 | PA      | $168491.11    | 0.03%             | 2049-01-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 3 05/15/47                                        | CUSIP: 912810RX8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  50056000 | PA      | $37197865.00  | 6.05%             | 2047-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Corporacion Nacional del Cobre de Chile                                             | CDEL 5.529 01/30/37 144A                            | CUSIP: 21987BBQ0<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |   4625000 | PA      | $4529464.81   | 0.74%             | 2037-01-30      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| CSMC Trust 2013-6                                                                   | CSMC 2013-6 2A1                                     | CUSIP: 12647MBY0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    144979 | PA      | $135187.53    | 0.02%             | 2043-08-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| WINWATER MORTGAGE LOAN TRUST 2015-2                                                 | WIN 2015-2 A11                                      | CUSIP: 97652UAL4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    358921 | PA      | $333548.77    | 0.05%             | 2045-02-20      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust 2020-Pj3                                        | GSMBS 2020-PJ3 A14                                  | CUSIP: 36258WAS1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400577 | PA      | $347322.26    | 0.06%             | 2050-10-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN BC6764                                           | CUSIP: 3140F2QS2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21415 | PA      | $19967.60     | 0.00%             | 2046-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUB SVC AUTH                                                         | SC SCSUTL 2.33 12/01/2028                           | CUSIP: 837151XH7<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    600000 | PA      | $571218.34    | 0.09%             | 2028-12-01      | Fixed         | 2.33%                 | No            |                  2 | On Loan: No      |
| Apollo Global Management Inc                                                        | APO 5.7 03/30/36                                    | CUSIP: 03769MAG1<br>LEI: 254900LMFT1CY9IYB476 | Long             | DBT              | CORP              | US        |   3150000 | PA      | $3152163.53   | 0.51%             | 2036-03-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| COREVEST AMERICAN FINANCE 2020-3 TRUST                                              | CAFL 2020-3 A                                       | CUSIP: 21873CAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     47611 | PA      | $47374.71     | 0.01%             | 2053-08-15      | Fixed         | 1.36%                 | No            |                  2 | On Loan: No      |
| OBX 2022-INV1 TRUST                                                                 | OBX 2022-INV1 A1                                    | CUSIP: 67115NAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1098617 | PA      | $951894.74    | 0.15%             | 2051-12-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Lyra Music Assets Del LP                                                            | LYRA 2025-1A A2                                     | CUSIP: 552339AD5<br>LEI: 9845007N9EAB0C048A12 | Long             | ABS-O            | CORP              | US        |   2871106 | PA      | $2893340.73   | 0.47%             | 2065-09-20      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Cameron LNG LLC                                                                     | CAMLNG 3.302 01/15/35 144A                          | CUSIP: 133434AB6<br>LEI: 549300C39FLHGVD73K22 | Long             | DBT              | CORP              | US        |   3660000 | PA      | $3181304.56   | 0.52%             | 2035-01-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG A93451                                           | CUSIP: 312941ZQ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    233980 | PA      | $233805.51    | 0.04%             | 2040-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2017-6                                                     | JPMMT 2017-6 A3                                     | CUSIP: 46649HAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     12676 | PA      | $11511.39     | 0.00%             | 2048-12-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST 2013-7                                                       | SEMT 2013-7 A2                                      | CUSIP: 81745CAB9<br>LEI: 549300DFASAA48I36408 | Long             | ABS-O            | CORP              | US        |     23752 | PA      | $21485.80     | 0.00%             | 2043-06-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                       | USB V4.653 02/01/29                                 | CUSIP: 91159HJK7<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1520000 | PA      | $1526163.05   | 0.25%             | 2029-02-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| SiriusPoint Ltd                                                                     | SPNT 7 04/05/29                                     | CUSIP: 82969BAA0<br>LEI: 549300OGXFI85N3YZZ51 | Long             | DBT              | CORP              | BM        |   3420000 | PA      | $3565242.19   | 0.58%             | 2029-04-05      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE-BACKED SECURITIES TRUST 2021-PJ9                                        | GSMBS 2021-PJ9 A8                                   | CUSIP: 36263CAH2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    956292 | PA      | $860379.57    | 0.14%             | 2052-02-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| BOURZOU ISSUER LLC                                                                  | CLDCD 2024-1A A2                                    | CUSIP: 102104AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3250000 | PA      | $3243010.74   | 0.53%             | 2049-11-22      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD1360                                           | CUSIP: 3132DNQM8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2921614 | PA      | $2963043.51   | 0.48%             | 2052-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG Q47544                                           | CUSIP: 3132WML28<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    160388 | PA      | $154059.29    | 0.03%             | 2047-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust 2021-A                                             | SMB 2021-A A2A1                                     | CUSIP: 78448YAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3220429 | PA      | $3182946.88   | 0.52%             | 2053-01-15      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG C91832                                           | CUSIP: 3128P8A92<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    136337 | PA      | $132739.09    | 0.02%             | 2035-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FIP MASTER FUNDING LLC                                                              | FI 2026-1A A1                                       | CUSIP: 30332YAM3<br>LEI: 549300VYR1U1PKPKL718 | Long             | ABS-O            | CORP              | US        |   3900000 | PA      | $3833928.99   | 0.62%             | 2056-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| PEAR LLC                                                                            | PEAR 2024-1 A                                       | CUSIP: 704933AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    615343 | PA      | $619998.12    | 0.10%             | 2036-02-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Obx 2020-Exp1 Trust                                                                 | OBX 2020-EXP1 B21A                                  | CUSIP: 67448TBP9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7396305 | PA      | $7474195.24   | 1.22%             | 2060-02-25      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| Cenovus Energy Inc                                                                  | CVECN 6.75 11/15/39                                 | CUSIP: 15135UAF6<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |   4905000 | PA      | $5344670.41   | 0.87%             | 2039-11-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SEASONED MORTGAGE TRUST 2025-1                                            | JPSMT 2025-1 A3                                     | CUSIP: 46659PAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2319399 | PA      | $2082780.30   | 0.34%             | 2063-01-25      | Variable      | 3.68%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG C91780                                           | CUSIP: 3128P76R9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     29590 | PA      | $29717.45     | 0.00%             | 2034-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 2.375 02/15/42                                    | CUSIP: 912810TF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  50072000 | PA      | $36489970.00  | 5.93%             | 2042-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST 2021-RM2                                        | BABS 2021-RM2 A                                     | CUSIP: 10638MAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1055377 | PA      | $1039601.84   | 0.17%             | 2061-10-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Jefferies Financial Group Inc                                                       | JEF 6.2 04/14/34                                    | CUSIP: 47233WEJ4<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   5930000 | PA      | $6042598.38   | 0.98%             | 2034-04-14      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE-BACKED SECURITIES TRUST 2021-PJ6                                        | GSMBS 2021-PJ6 A8                                   | CUSIP: 36262LAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    962560 | PA      | $865778.42    | 0.14%             | 2051-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN FM2232                                           | CUSIP: 3140X5PS6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     75454 | PA      | $72166.95     | 0.01%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sutherland Coml Mtg Tr 2019-Sbc8                                                    | SCML 2019-SBC8 A                                    | CUSIP: 86935CAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    288612 | PA      | $275516.84    | 0.04%             | 2041-04-25      | Variable      | 2.86%                 | No            |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST 2025-RM13                                       | BABS 2025-RM13 A1                                   | CUSIP: 10638PAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1997643 | PA      | $1934194.87   | 0.31%             | 2065-10-26      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CIM TRUST 2019-INV1                                                                 | CIM 2019-INV1 A1                                    | CUSIP: 12555DAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7428 | PA      | $7078.25      | 0.00%             | 2049-02-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN FS4616                                           | CUSIP: 3140XLDW5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3343545 | PA      | $3368441.44   | 0.55%             | 2043-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST                                                              | SEMT 2013-6 A2                                      | CUSIP: 81745BAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    318826 | PA      | $288445.97    | 0.05%             | 2043-05-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPM V4.493 03/24/31                                 | CUSIP: 46647PBJ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   6210000 | PA      | $6178585.37   | 1.00%             | 2031-03-24      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                      | MS V4.213 02/08/30 .                                | CUSIP: 61776NU43<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   4710000 | PA      | $4661035.44   | 0.76%             | 2030-02-08      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| Commonbond Student Loan Trust 2019-A-Gs                                             | CBSLT 2019-AGS A1                                   | CUSIP: 20268CAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    251655 | PA      | $231369.97    | 0.04%             | 2047-01-25      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2014-1                                          | NRZT 2014-1A A                                      | CUSIP: 64828AAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     64648 | PA      | $63684.54     | 0.01%             | 2054-01-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Walt Disney Company                                                                 | DIS 6.65 11/15/37                                   | CUSIP: 254687EH5<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |   2620000 | PA      | $2948080.55   | 0.48%             | 2037-11-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| DEEPHAVEN RESIDENTIAL MORTGAGE TRUST 2021-3                                         | DRMT 2021-3 A1                                      | CUSIP: 24381VAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3658694 | PA      | $3249688.75   | 0.53%             | 2066-08-25      | Variable      | 1.19%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN MA3007                                           | CUSIP: 31418CKV5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    527342 | PA      | $474853.16    | 0.08%             | 2047-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Goodgreen 2020-1                                                                    | GOODG 2020-1A A                                     | CUSIP: 38217TAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   1041642 | PA      | $882495.24    | 0.14%             | 2055-04-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                  | ET 6.5 02/01/42                                     | CUSIP: 29273RAR0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   5125000 | PA      | $5334173.17   | 0.87%             | 2042-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| IMPERIAL FUND MORTGAGE TRUST 2021-NQM3                                              | IMPRL 2021-NQM3 A1                                  | CUSIP: 452762AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1097506 | PA      | $944345.37    | 0.15%             | 2056-11-25      | Variable      | 1.59%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 4.5 11/15/33                                      | CUSIP: 91282CJJ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  18174000 | PA      | $18551678.44  | 3.02%             | 2033-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST 2013-8                                                       | SEMT 2013-8 A1                                      | CUSIP: 81745EAA7<br>LEI: 549300EU86QZR1NB5U93 | Long             | ABS-O            | CORP              | US        |     67643 | PA      | $61580.68     | 0.01%             | 2043-06-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AX1685                                           | CUSIP: 3138Y22T9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    306903 | PA      | $289924.28    | 0.05%             | 2044-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Becle Sab DE CV                                                                     | JBYCMX 2.5 10/14/31 144A                            | CUSIP: 07586PAA9<br>LEI: 529900JY55CZKMJLCE09 | Long             | DBT              | CORP              | MX        |   3600000 | PA      | $3078211.72   | 0.50%             | 2031-10-14      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | TII 2.375 02/15/55                                  | CUSIP: 912810UH9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6586492 | PA      | $6114117.49   | 0.99%             | 2055-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| OXFORD FINANCE FUNDING TRUST 2025-1                                                 | OXFIN 2025-1A A2                                    | CUSIP: 69144BAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2700000 | PA      | $2692999.44   | 0.44%             | 2035-02-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNR 2018-31 KP                                      | CUSIP: 3136B1YD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |      1239 | PA      | $1233.05      | 0.00%             | 2047-07-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                              | TFC V1.887 06/07/29 MTN                             | CUSIP: 89788MAE2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   1910000 | PA      | $1807713.62   | 0.29%             | 2029-06-07      | Fixed         | 1.89%                 | No            |                  2 | On Loan: No      |
| CITIGROUP MORTGAGE LOAN TRUST 2021-INV1                                             | CMLTI 2021-INV1 A3A                                 | CUSIP: 17329PAY8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    730251 | PA      | $605091.92    | 0.10%             | 2051-05-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AI5172                                           | CUSIP: 3138AJXA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27180 | PA      | $26459.36     | 0.00%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2022-6                                                     | JPMMT 2022-6 A12A                                   | CUSIP: 46655KBV7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1291156 | PA      | $1258508.14   | 0.20%             | 2052-11-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| DATABANK ISSUER LLC                                                                 | COLO 2023-1A A2                                     | CUSIP: 23802WAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1180000 | PA      | $1170477.12   | 0.19%             | 2053-02-25      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Sofi Professional Loan Program 2020-A Trust                                         | SOFI 2020-A A2FX                                    | CUSIP: 83406TAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2400174 | PA      | $2319658.17   | 0.38%             | 2046-05-15      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG A92889                                           | CUSIP: 312941F69<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     83056 | PA      | $82994.45     | 0.01%             | 2040-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Commercial Mortgage Trust                                             | CSMC 2013-IVR2 A2                                   | CUSIP: 12646WAH7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    148586 | PA      | $135696.15    | 0.02%             | 2043-04-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| PEAR 2023-1 LLC                                                                     | PEAR 2023-1 A                                       | CUSIP: 70473AAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    845692 | PA      | $862571.82    | 0.14%             | 2035-07-16      | Fixed         | 7.42%                 | 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        |   3490000 | PA      | $3360724.72   | 0.55%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 3.625 02/15/53                                    | CUSIP: 912810TN8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  47808000 | PA      | $38365920.00  | 6.24%             | 2053-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Ggam Master Trust Internationa Ltd. / Ggam Mastertrust Us LLC                       | GGAMMT 2025-1A A                                    | CUSIP: 36173XAA0<br>LEI: 254900X2QXEN0FVXRF65 | Long             | ABS-O            | CORP              | KY        |   2948509 | PA      | $2937886.67   | 0.48%             | 2060-09-30      | Fixed         | 5.92%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                      | C V4.503 09/11/31                                   | CUSIP: 172967QF1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4700000 | PA      | $4643813.74   | 0.76%             | 2031-09-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management Funds                                            | Dreyfus Government Cash Management Funds SH BEN INT | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |  10841134 | NS      | $10841133.91  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Palomino Funding Trust I                                                            | VST 7.233 05/17/28                                  | CUSIP: 69754AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6750000 | PA      | $7058892.97   | 1.15%             | 2028-05-17      | Fixed         | 7.23%                 | No            |                  2 | On Loan: No      |
| PEAR THERAPEUTICS INC                                                               | PEAR 2021-1 A                                       | CUSIP: 70472TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     54769 | PA      | $54711.50     | 0.01%             | 2034-01-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Airbnb Inc                                                                          | ABNB 4.65 03/16/31                                  | CUSIP: 009066AD3<br>LEI: 549300HMUDNO0RY56D37 | Long             | DBT              | CORP              | US        |   3075000 | PA      | $3069464.45   | 0.50%             | 2031-03-16      | Fixed         | 4.65%                 | 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        |   3785000 | PA      | $3799345.11   | 0.62%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                  | ET 4.55 01/15/31                                    | CUSIP: 29273VBJ8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   3150000 | PA      | $3121345.85   | 0.51%             | 2031-01-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG C91746                                           | CUSIP: 3128P75F6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     20984 | PA      | $21075.78     | 0.00%             | 2033-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Finance Of America Structured Securities Tr 2017-HB1                                | FASST 2022-S6 A1                                    | CUSIP: 31740XAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1078964 | PA      | $1094736.99   | 0.18%             | 2061-07-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VB-S1 ISSUER LLC                                                                    | VBTEL 2026-1A C2                                    | CUSIP: 91825HAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3825000 | PA      | $3758234.24   | 0.61%             | 2056-03-15      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVERNMENT OF NASHVILLE & DAVIDSON INDUSTRIAL DEVELOPMENT BOARD (TN)   | TN MET 5.71 07/01/2034                              | CUSIP: 592112DR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3005000 | PA      | $3112833.77   | 0.51%             | 2034-07-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Hageman Capital 2025 Issuer Tr                                                      | Hageman Capital 2025 Issuer Trust                   | CUSIP: 405033AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2653933 | PA      | $2591067.55   | 0.42%             | 2056-08-09      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG C91771                                           | CUSIP: 3128P76G3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     30543 | PA      | $30674.74     | 0.00%             | 2034-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2018-BILT                                                                  | BX 2026-CSMO A                                      | CUSIP: 12433LAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3060000 | PA      | $3056845.41   | 0.50%             | 2031-02-15      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V2.687 04/22/32                                 | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5580000 | PA      | $5061517.92   | 0.82%             | 2032-04-22      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2013-4                                                       | SEMT 2013-4 A1                                      | CUSIP: 81744YAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1180960 | PA      | $1042416.55   | 0.17%             | 2043-04-25      | Variable      | 2.33%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                              | FHR 5501 JL                                         | CUSIP: 3137HJQR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   3275085 | PA      | $2664316.06   | 0.43%             | 2048-06-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Atlas Warehouse Lending Co. LP                                                      | ATWALD 4.95 11/15/30                                | CUSIP: 049463AG7<br>LEI: 25490068J12A1HV7YM70 | Long             | DBT              | CORP              | US        |   3110000 | PA      | $3050243.48   | 0.50%             | 2030-11-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group Inc                                                        | CFG V5.299 01/29/36                                 | CUSIP: 174610BK0<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   3130000 | PA      | $3102823.31   | 0.50%             | 2036-01-29      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | GNR 2024-64 BQ                                      | CUSIP: 38384MYW1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   3908348 | PA      | $3930203.04   | 0.64%             | 2054-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD4235                                           | CUSIP: 3132E0V41<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1253484 | PA      | $1295244.54   | 0.21%             | 2053-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc.                                                   | PNC V4.899 05/13/31                                 | CUSIP: 693475CD5<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   4870000 | PA      | $4898249.11   | 0.80%             | 2031-05-13      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                                     | FR SD5413                                           | CUSIP: 3132DTAN0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5894930 | PA      | $5836267.86   | 0.95%             | 2054-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FIP MASTER FUNDING LLC                                                              | FI 2025-1A A2                                       | CUSIP: 30332YAG6<br>LEI: 549300VYR1U1PKPKL718 | Long             | ABS-O            | CORP              | US        |   2996281 | PA      | $2944821.79   | 0.48%             | 2055-10-15      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| SBA Tower Trust                                                                     | SBATOW 4.831 10/15/29 144A                          | CUSIP: 78403DBD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2730000 | PA      | $2741892.70   | 0.45%             | 2029-10-15      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG Q17513                                           | CUSIP: 3132J8YK0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     50516 | PA      | $47896.27     | 0.01%             | 2043-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN AS7931                                           | CUSIP: 3138WHY55<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1906208 | PA      | $1769181.27   | 0.29%             | 2046-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Cornell University                                                                  | CORNLU 4.169 06/15/30 2025                          | CUSIP: 219207AD9<br>LEI: 549300ZZIJPNT0RZWP17 | Long             | DBT              | CORP              | US        |   6400000 | PA      | $6354307.34   | 1.03%             | 2030-06-15      | Fixed         | 4.17%                 | No            |                  2 | On Loan: No      |
| PROVIDENT FUNDING MORTGAGE TRUST 2021-2                                             | PFMT 2021-2 A2A                                     | CUSIP: 74388JAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1269691 | PA      | $1105499.47   | 0.18%             | 2051-04-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| Cogent IPV4 LLC                                                                     | CGNT 2024-1A A2                                     | CUSIP: 19240JAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    940000 | PA      | $968394.29    | 0.16%             | 2054-05-25      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN 995876                                           | CUSIP: 31416CJV9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     36172 | PA      | $38060.51     | 0.01%             | 2038-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE COMMERCIAL MORTGAGE TRUST                                             | CSMC 2013-TH1 A1                                    | CUSIP: 22944PAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     26774 | PA      | $23769.96     | 0.00%             | 2043-02-25      | Variable      | 2.13%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN FS7251                                           | CUSIP: 3140XPBV0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8573063 | PA      | $7604325.09   | 1.24%             | 2052-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 4.125 11/15/32                                    | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12320000 | PA      | $12325775.00  | 2.00%             | 2032-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Commercial Mortgage Trust                                             | CSMC 2013-IVR3 A1                                   | CUSIP: 12646XAH5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     43088 | PA      | $38897.24     | 0.01%             | 2043-05-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| OBX 2024-NQM1 TRUST                                                                 | OBX 2024-NQM1 A1                                    | CUSIP: 67448LAA0<br>LEI: 254900UI1468MQ7I8472 | Long             | ABS-O            | CORP              | US        |    882755 | PA      | $885225.76    | 0.14%             | 2063-11-25      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| VELOCITY COMMERCIAL CAPITAL LOAN TRUST 2016-2                                       | VCC 2026-1 A                                        | CUSIP: 92262WAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3482133 | PA      | $3435454.83   | 0.56%             | 2056-02-25      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| OXFORD FINANCE FUNDING TRUST 2022-1                                                 | OXFIN 2022-1A A2                                    | CUSIP: 69145BAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1199801 | PA      | $1168029.93   | 0.19%             | 2030-02-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| SMB PRIVATE EDUCATION LOAN TRUST 2024-D                                             | SMB 2024-D A1A                                      | CUSIP: 83207QAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4302184 | PA      | $4352962.42   | 0.71%             | 2053-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| The Depository Trust & Clearing Corporation                                         | DEPTCC V3.375 PERP D                                | CUSIP: 249670AB6<br>LEI: MLDY5N6PZ58ZE60QU102 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1736875.59   | 0.28%             | N/A             | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| OBX 2022-NQM2 TRUST                                                                 | OBX 2022-NQM2 A1A                                   | CUSIP: 67448DAL4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2384936 | PA      | $2317841.47   | 0.38%             | 2062-01-25      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE-BACKED SECURITIES TRUST 2021-INV1                                       | GSMBS 2021-INV1 A9                                  | CUSIP: 36263KAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1367595 | PA      | $1276115.65   | 0.21%             | 2051-12-25      | Variable      | 4.52%                 | No            |                  2 | On Loan: No      |
| TRICON RESIDENTIAL 2024-SFR3 TRUST                                                  | TCN 2024-SFR3 A                                     | CUSIP: 89616YAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5445668 | PA      | $5372001.35   | 0.87%             | 2041-08-19      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG G60071                                           | CUSIP: 31335ACG1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     76382 | PA      | $76325.01     | 0.01%             | 2042-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR RB5188                                           | CUSIP: 3133KYXR5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2666777 | PA      | $2596960.57   | 0.42%             | 2042-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TOWD POINT MORTGAGE TRUST 2019-HY1                                                  | TPMT 2019-HY1 A1                                    | CUSIP: 89177EAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     36419 | PA      | $36431.22     | 0.01%             | 2048-10-26      | Variable      | 4.79%                 | No            |                  2 | On Loan: No      |
| RCKT MORTGAGE TRUST 2021-6                                                          | RCKT 2021-6 A1                                      | CUSIP: 74939KAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1350932 | PA      | $1121025.20   | 0.18%             | 2051-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Oxford Finance Funding 2019-1 Llc                                                   | OXFIN 2023-1A A2                                    | CUSIP: 69145CAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1879276 | PA      | $1892589.75   | 0.31%             | 2031-02-15      | Fixed         | 6.72%                 | No            |                  2 | On Loan: No      |
| CF HIPPOLYTA ISSUER LLC                                                             | SORT 2020-1 B1                                      | CUSIP: 12530MAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1484096 | PA      | $912717.73    | 0.15%             | 2060-07-15      | Fixed         | 2.28%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR RJ0062                                           | CUSIP: 3142GQB84<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2781832 | PA      | $2766589.09   | 0.45%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNR 2018-13 PA                                      | CUSIP: 3136B02X3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1271928 | PA      | $1134489.74   | 0.18%             | 2048-03-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PCG 2023-1 LLC                                                                      | PCG 2023-1 NOTE                                     | CUSIP: 70461JAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    174819 | PA      | $174805.36    | 0.03%             | 2029-07-25      | Floating      | 9.68%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG G60855                                           | CUSIP: 31335A5Q7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     71020 | PA      | $70440.68     | 0.01%             | 2045-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Huntington Bancshares Incorporated                                                  | HBAN 2.55 02/04/30                                  | CUSIP: 446150AS3<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   3660000 | PA      | $3390726.32   | 0.55%             | 2030-02-04      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG D98711                                           | CUSIP: 3128E5VC0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     23998 | PA      | $24110.98     | 0.00%             | 2031-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN BE7845                                           | CUSIP: 3140FTWF4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27131 | PA      | $26730.02     | 0.00%             | 2047-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VELOCITYSBA LOAN TRUST 2026-1                                                       | VLSBA 2026-1 A                                      | CUSIP: 922968AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1550000 | PA      | $1530625.00   | 0.25%             | 2051-01-20      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2021-4                                                     | JPMMT 2021-4 A3B                                    | CUSIP: 46652VAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1492228 | PA      | $1171182.12   | 0.19%             | 2051-08-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST 2024-R1                                                  | VERUS 2024-R1 A2                                    | CUSIP: 924926AD0<br>LEI: 213800A8V9BALJ9WKP38 | Long             | ABS-O            | CORP              | US        |   2820424 | PA      | $2825604.06   | 0.46%             | 2069-09-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Safehold GL Holdings LLC                                                            | SAFE 2.85 01/15/32                                  | CUSIP: 78646UAB5<br>LEI: 54930012UY5Z4Q8NL108 | Long             | DBT              | CORP              | US        |   2736000 | PA      | $2445533.27   | 0.40%             | 2032-01-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| OXFORD FINANCE CREDIT FUND III 2025                                                 | OXFINF 2025-A A2                                    | CUSIP: 69145VAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2700000 | PA      | $2682442.71   | 0.44%             | 2034-08-14      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| D.R. Horton, Inc.                                                                   | DHI 4.85 10/15/30                                   | CUSIP: 23331ABT5<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | DBT              | CORP              | US        |   3260000 | PA      | $3284343.87   | 0.53%             | 2030-10-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FN MA4203                                           | CUSIP: 31418DU59<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1987718 | PA      | $1806924.31   | 0.29%             | 2040-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FN MA4807                                           | CUSIP: 31418EKV1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2649182 | PA      | $2687639.01   | 0.44%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST 2014-2                                                   | JPMMT 2014-2 1A1                                    | CUSIP: 46641YAA1<br>LEI: 549300BV8AJIRLDGMR51 | Long             | ABS-O            | CORP              | US        |      7318 | PA      | $7227.72      | 0.00%             | 2029-06-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| NAVIENT PRIVATE EDUCATION REFI LOAN TRUST 2024-A                                    | NAVSL 2024-A A                                      | CUSIP: 63943CAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4621931 | PA      | $4691098.62   | 0.76%             | 2072-10-15      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG Q37857                                           | CUSIP: 3132QUWT6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    177230 | PA      | $170833.89    | 0.03%             | 2045-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FNR 2021-69 WJ                                      | CUSIP: 3136BJMZ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    977601 | PA      | $853420.44    | 0.14%             | 2050-10-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FG Q47130                                           | CUSIP: 3132WL4Q6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     23527 | PA      | $23109.34     | 0.00%             | 2047-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN FS9332                                           | CUSIP: 3140XRLN3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5737060 | PA      | $5176254.00   | 0.84%             | 2050-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CF HIPPOLYTA ISSUER LLC                                                             | SORT 2021-1A B1                                     | CUSIP: 12530MAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1658708 | PA      | $1010454.54   | 0.16%             | 2061-03-15      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN BD1191                                           | CUSIP: 3140F8KD8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    131087 | PA      | $122225.19    | 0.02%             | 2047-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 4 11/15/35                                        | CUSIP: 91282CPJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  19338000 | PA      | $18863614.69  | 3.07%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PMT Loan Trust 2013-J1                                                              | PMTLT 2013-J1 A9                                    | CUSIP: 693456AW5<br>LEI: 549300QFMQR379ND0354 | Long             | ABS-O            | CORP              | US        |    509549 | PA      | $475447.06    | 0.08%             | 2043-09-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-27

**Name of Applicant:** Manning & Napier Fund, Inc.

**Signature:** Jill Peeper

**Name of Signer:** Jill Peeper

**Title:** Principal Financial Officer and Treasurer