# EDGAR Filing Document

**Accession Number:** 0000924727
**File Stem:** 0001193125-26-245340
**Filing Date:** 2026-5
**Character Count:** 142896
**Document Hash:** 04eb7753e97d4426516f2541af070699
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-245340.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001193125-26-245340

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Investment Managers Series Trust III
- **CENTRAL INDEX KEY:** 0000924727

**ORGANIZATION NAME:**
- **EIN:** 043236699
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08544
- **FILM NUMBER:** 261036813

**BUSINESS ADDRESS:**
- **STREET 1:** 235 W. GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
- **BUSINESS PHONE:** 626-385-5777

**MAIL ADDRESS:**
- **STREET 1:** 235 W. GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FPA FUNDS TRUST
- **DATE OF NAME CHANGE:** 20021028

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UAM FUNDS TRUST
- **DATE OF NAME CHANGE:** 19951101

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** REGIS FUND II
- **DATE OF NAME CHANGE:** 19940606

## Series and Classes Contracts Data

### FPA New Income Fund (Series ID: S000080693)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000243216 | Institutional Class | FPNIX           |
| C000249814 | Investor Class      | FPNRX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Investment Managers Series Trust III

- **b. Investment Company Act file number:** 811-08544

- **c. CIK number of Registrant:** 0000924727

- **d. LEI of Registrant:** 549300H7BXP5EUEHOJ64

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

  - **Street Address 1:** 235 W. Galena Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53212

  - **Telephone number:** 626-385-5777

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

- **a. Name of Series:** FPA New Income Fund

- **b. EDGAR series identifier (if any):** S000080693

- **c. LEI of Series:** 98450097FAFF1111C456

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

- **a. Date of fiscal year-end:** 2026-09-30

- **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:** $11070455439.95

**Total Liabilities:** $15456870.38

**Net Assets:** $11054998569.57

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2492.458667446399 | **1-Year:** 273230.664429951052 | **5-Year:** 1800400.043702869060 | **10-Year:** 878925.624629574664 | **30-Year:** 715082.944903698916

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

- **3-Month:** 0.000000000000 | **1-Year:** 2046.478202332506 | **5-Year:** 5098.931577723537 | **10-Year:** 1264.079985851605 | **30-Year:** 65.850480771351

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000243216 | 0.22%                | 1.11%                | -1.15%               |
| Class ID C000249814 | 0.25%                | 1.04%                | -1.07%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3697469.66              | $-7887284.33                               |
| Month 2  | $25476840.03             | $50383829.48                               |
| Month 3  | $5832801.58              | $-159345116.72                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Fannie Mae                                     | Fannie Mae REMICS                                            | CUSIP: 3136G5EV8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   52483617 | PA      | $47801094.30   | 0.43%             | 2045-09-25      | Fixed         | 2.00%                 | No            |                  3 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31374CSC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   27275997 | PA      | $25692491.70   | 0.23%             | 2044-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac REMICS                                           | CUSIP: 3137A6WW8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    5236125 | PA      | $5132812.69    | 0.05%             | 2041-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137BKGK0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   22485000 | PA      | $21904691.38   | 0.20%             | 2030-04-25      | Fixed         | 3.51%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137BUX60<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   40575561 | PA      | $40365663.65   | 0.37%             | 2026-12-25      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                 | BBCMS Trust 2015-SRCH                                        | CUSIP: 05547HAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    4019175 | PA      | $3967664.23    | 0.04%             | 2035-08-10      | Fixed         | 3.31%                 | Yes           |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                 | BBCMS Mortgage Trust 2025-5C36                               | CUSIP: 05556CAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    9736000 | PA      | $10015171.04   | 0.09%             | 2058-08-15      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| BMW Vehicle Owner Trust                        | BMW Vehicle Owner Trust 2023-A                               | CUSIP: 05592XAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    6776000 | PA      | $6858823.73    | 0.06%             | 2029-11-26      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bank5                                          | BANK5 2025-5YR18                                             | CUSIP: 06604CAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   31134000 | PA      | $31660205.07   | 0.29%             | 2058-12-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Cerberus                                       | Cerberus Loan Funding XLIII LLC                              | CUSIP: 156940AA6<br>LEI: 6354005VK9L5QCJ8WJ98 | Long             | ABS-CBDO         | CORP              | US        |   52569000 | PA      | $52859128.31   | 0.48%             | 2035-10-15      | Floating      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                  | Citigroup Mortgage Loan Trust 2014-A                         | CUSIP: 17322GAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1494516 | PA      | $1456233.32    | 0.01%             | 2035-01-25      | Variable      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CLECO SECURITIZATION I                         | Cleco Securitization I LLC                                   | CUSIP: 185512AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   14466152 | PA      | $14303407.56   | 0.13%             | 2031-03-01      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| CONSUMERS 23 SECURE FUND                       | Consumers 2023 Securitization Funding LLC                    | CUSIP: 21071BAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   22847000 | PA      | $22924172.60   | 0.21%             | 2031-09-01      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3133KYVX4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   10787388 | PA      | $9096778.79    | 0.08%             | 2041-10-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae REMICS                                            | CUSIP: 3136ABJH7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     645868 | PA      | $637328.54     | 0.01%             | 2042-04-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae REMICS                                            | CUSIP: 3136AGLR1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     379467 | PA      | $369528.79     | 0.00%             | 2042-07-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae REMICS                                            | CUSIP: 3136BTAR4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   53345820 | PA      | $49745436.38   | 0.45%             | 2047-11-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FX3Q9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   61809000 | PA      | $55030542.95   | 0.50%             | 2030-08-25      | Fixed         | 1.41%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137HA4B9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   61806000 | PA      | $62140747.48   | 0.56%             | 2030-03-25      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137HAGZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   18741000 | PA      | $18745608.41   | 0.17%             | 2030-07-25      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418D5F5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   55655168 | PA      | $46932461.19   | 0.42%             | 2041-10-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418D5Q1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   21991828 | PA      | $19046953.11   | 0.17%             | 2036-09-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                     | Barings Equipment Finance LLC 2025-A                         | CUSIP: 06764MAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   16651000 | PA      | $16975186.64   | 0.15%             | 2050-06-13      | Fixed         | 5.02%                 | Yes           |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                     | Barings Equipment Finance LLC 2026-A                         | CUSIP: 06764QAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    4947000 | PA      | $4897130.28    | 0.04%             | 2045-11-13      | Fixed         | 4.24%                 | Yes           |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                     | Barings Equipment Finance LLC 2025-B                         | CUSIP: 06764YAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   23763000 | PA      | $23525110.98   | 0.21%             | 2050-09-13      | Fixed         | 4.29%                 | Yes           |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                       | Benchmark 2024-V11 Mortgage Trust                            | CUSIP: 081921AZ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   17340000 | PA      | $17983392.03   | 0.16%             | 2057-11-15      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                             | BMO 2024-5C7 Mortgage Trust                                  | CUSIP: 09660WAU5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   17350000 | PA      | $17787742.24   | 0.16%             | 2057-11-15      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                             | BMO 2024-5C8 Mortgage Trust                                  | CUSIP: 09661XAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    8363000 | PA      | $8589241.73    | 0.08%             | 2057-12-15      | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                             | BMO 2025-5C13 Mortgage Trust                                 | CUSIP: 09664JAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   15541000 | PA      | $15774805.02   | 0.14%             | 2058-12-15      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| BRAZOS SECURITIZATN LLC                        | Brazos Securitization LLC                                    | CUSIP: 106230AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    6881996 | PA      | $6920272.01    | 0.06%             | 2031-09-01      | Fixed         | 5.01%                 | Yes           |                  2 | On Loan: No      |
| CNH Equipment Trust                            | CNH Equipment Trust 2022-B                                   | CUSIP: 12663JAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    7414000 | PA      | $7399402.58    | 0.07%             | 2028-03-15      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |
| CNH Equipment Trust                            | CNH Equipment Trust 2023-A                                   | CUSIP: 12664QAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    6738000 | PA      | $6778809.37    | 0.06%             | 2030-10-15      | Fixed         | 4.77%                 | No            |                  2 | On Loan: No      |
| DTE ELECT SECUR FND II                         | DTE Electric Securitization Funding II LLC                   | CUSIP: 23346TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   22782420 | PA      | $23938627.45   | 0.22%             | 2033-03-01      | Fixed         | 5.97%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY NC ST FDG II                       | Duke Energy Carolinas Nc Storm Funding II LLC                | CUSIP: 26443UAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   30094000 | PA      | $29642590.00   | 0.27%             | 2037-07-01      | Fixed         | 4.23%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                 | Enterprise Fleet Financing 2025-4 LLC                        | CUSIP: 29373NAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   19554000 | PA      | $19404441.23   | 0.18%             | 2032-06-20      | Fixed         | 4.28%                 | Yes           |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                 | Enterprise Fleet Financing 2023-3 LLC                        | CUSIP: 29374LAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   34823000 | PA      | $35775189.67   | 0.32%             | 2030-06-20      | Fixed         | 6.41%                 | Yes           |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                 | Enterprise Fleet Financing 2024-4 LLC                        | CUSIP: 29374MAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   11576000 | PA      | $11713593.49   | 0.11%             | 2031-06-20      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                 | Enterprise Fleet Financing 2023-2 LLC                        | CUSIP: 29375NAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   37963000 | PA      | $38405701.73   | 0.35%             | 2030-04-22      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                 | Enterprise Fleet Financing 2026-1 LLC                        | CUSIP: 29376JAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   22250000 | PA      | $22072122.38   | 0.20%             | 2032-09-20      | Fixed         | 4.29%                 | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Non Gold Pool                                    | CUSIP: 31288QTU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   71967745 | PA      | $65740750.14   | 0.59%             | 2052-07-01      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Non Gold Pool                                    | CUSIP: 31288QX54<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    8609894 | PA      | $8226954.22    | 0.07%             | 2052-11-01      | Floating      | 3.31%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Non Gold Pool                                    | CUSIP: 31288QZD5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   10613049 | PA      | $9696565.91    | 0.09%             | 2053-05-01      | Floating      | 2.16%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3131WQYR2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    2369452 | PA      | $2311930.81    | 0.02%             | 2040-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3131WRB53<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    3772339 | PA      | $3677427.92    | 0.03%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3132A3KZ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    2652769 | PA      | $2587535.71    | 0.02%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3132A9NL7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     201742 | PA      | $198610.64     | 0.00%             | 2028-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3132CXLX8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    8222365 | PA      | $7136803.39    | 0.06%             | 2036-10-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3132D6AJ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    5453170 | PA      | $4721222.93    | 0.04%             | 2036-07-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3132D9P40<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   35336752 | PA      | $30817976.60   | 0.28%             | 2042-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3132D9QJ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   24002963 | PA      | $20921719.68   | 0.19%             | 2042-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3132D9RW6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    3960093 | PA      | $3355074.03    | 0.03%             | 2041-11-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3132D9RZ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    4895463 | PA      | $4137734.21    | 0.04%             | 2042-01-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3132D9T95<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   17763395 | PA      | $15529042.57   | 0.14%             | 2042-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3132D9UR3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   29191840 | PA      | $24769340.53   | 0.22%             | 2041-12-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3132D9WU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   34429289 | PA      | $29057287.09   | 0.26%             | 2042-01-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137BVZ82<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   16384096 | PA      | $16295063.30   | 0.15%             | 2027-01-25      | Variable      | 3.43%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137F1G44<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    9702802 | PA      | $9622216.35    | 0.09%             | 2027-04-25      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137F2LJ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    7146855 | PA      | $7073872.21    | 0.06%             | 2027-06-25      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137F72P9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   15691000 | PA      | $13971793.62   | 0.13%             | 2030-10-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FBBX3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    8509735 | PA      | $8411840.71    | 0.08%             | 2027-08-25      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FEBQ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   12338034 | PA      | $12206605.56   | 0.11%             | 2027-12-25      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FETN0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   29086020 | PA      | $28722584.36   | 0.26%             | 2028-01-25      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FEZU7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   16051256 | PA      | $15967478.07   | 0.14%             | 2028-04-25      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418D6K3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   82153309 | PA      | $69285414.02   | 0.63%             | 2041-11-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418D7A4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   13573406 | PA      | $11711927.45   | 0.11%             | 2036-11-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FG6X8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    4086000 | PA      | $4060675.38    | 0.04%             | 2028-05-25      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FGZT5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   30559000 | PA      | $30394690.37   | 0.27%             | 2028-06-25      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                  | GS Mortgage-Backed Securities Trust 2021-PJ6                 | CUSIP: 36262LAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   34590682 | PA      | $31075618.57   | 0.28%             | 2051-11-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                  | GS Mortgage-Backed Securities Trust 2021-PJ10                | CUSIP: 36262PAH4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    9340182 | PA      | $8361743.19    | 0.08%             | 2052-03-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FHPJ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   25020308 | PA      | $24871504.72   | 0.22%             | 2028-07-25      | Variable      | 3.93%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FJEH8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   62664000 | PA      | $62270407.42   | 0.56%             | 2028-08-25      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| GM Financial Revolving Receiva                 | GM Financial Revolving Receivables Trust 2021-1              | CUSIP: 36263HAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   38305000 | PA      | $37872647.63   | 0.34%             | 2034-06-12      | Fixed         | 1.17%                 | Yes           |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                     | MMAF Equipment Finance LLC 2023-A                            | CUSIP: 55317WAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   24567000 | PA      | $24973092.51   | 0.23%             | 2038-12-13      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                     | MMAF Equipment Finance LLC 2024-A                            | CUSIP: 55318CAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   29990727 | PA      | $30599640.73   | 0.28%             | 2049-07-13      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| M&T Equipment Notes                            | M&T Equipment 2024-LEAF1 Notes                               | CUSIP: 55376YAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   17531000 | PA      | $17741436.86   | 0.16%             | 2031-08-18      | Fixed         | 4.94%                 | Yes           |                  2 | On Loan: No      |
| MERCEDES-BENZ AUTO RECEIVABLES                 | Mercedes-Benz Auto Receivables Trust 2023-1                  | CUSIP: 58770AAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   10006000 | PA      | $10022851.10   | 0.09%             | 2029-04-16      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                                  | CUSIP: 912797SD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  115702000 | PA      | $115690364.84  | 1.05%             | 2026-04-02      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                                  | CUSIP: 912797SL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  286727000 | PA      | $286497618.40  | 2.59%             | 2026-04-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                | United States Treasury Note                                  | CUSIP: 91282CPD7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  836812000 | PA      | $826024991.23  | 7.47%             | 2030-10-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418DP71<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   10756985 | PA      | $9483676.29    | 0.09%             | 2040-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418DSS2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    4011953 | PA      | $3533474.27    | 0.03%             | 2040-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                | United States Treasury Note                                  | CUSIP: 91282CPN5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  366750000 | PA      | $360016690.05  | 3.26%             | 2030-11-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418DT93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3180893 | PA      | $2709666.52    | 0.02%             | 2040-11-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418DTJ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    4361368 | PA      | $3839275.83    | 0.03%             | 2040-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418DU42<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   13107134 | PA      | $11156617.94   | 0.10%             | 2040-12-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418DU67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   15585704 | PA      | $13693964.62   | 0.12%             | 2040-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418DUA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   20783331 | PA      | $18272962.38   | 0.17%             | 2040-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418DVZ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    4472534 | PA      | $3804071.23    | 0.03%             | 2041-01-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418DW40<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   12458447 | PA      | $10588049.12   | 0.10%             | 2041-02-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418DX72<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   14112688 | PA      | $12264033.11   | 0.11%             | 2036-04-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418DY89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   13867542 | PA      | $12485688.83   | 0.11%             | 2041-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418DZG0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   14511941 | PA      | $12298651.00   | 0.11%             | 2041-05-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 31418EAA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    6021464 | PA      | $5074469.11    | 0.05%             | 2041-12-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Non Gold Pool                                    | CUSIP: 3142BNCX0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    8597831 | PA      | $7799416.71    | 0.07%             | 2051-09-01      | Floating      | 1.66%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Non Gold Pool                                    | CUSIP: 3142BNFA7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   10234815 | PA      | $9483465.37    | 0.09%             | 2052-03-01      | Floating      | 2.55%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Non Gold Pool                                    | CUSIP: 3142BNHB3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    6859744 | PA      | $6358324.52    | 0.06%             | 2052-05-01      | Floating      | 2.52%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust                   | Ford Credit Auto Owner Trust 2023-A                          | CUSIP: 344928AE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   14487000 | PA      | $14530842.01   | 0.13%             | 2028-12-15      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust                   | Ford Credit Auto Owner Trust 2023-B                          | CUSIP: 344930AE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    7137000 | PA      | $7193217.44    | 0.07%             | 2029-02-15      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master O                 | Ford Credit Floorplan Master Owner Trust A                   | CUSIP: 34528PAK2<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |   83977000 | PA      | $83364152.65   | 0.75%             | 2030-11-15      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master O                 | Ford Credit Floorplan Master Owner Trust A                   | CUSIP: 34528QJF2<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |   46054000 | PA      | $47278879.82   | 0.43%             | 2031-04-15      | Fixed         | 5.24%                 | Yes           |                  2 | On Loan: No      |
| Ford Credit Floorplan Master O                 | Ford Credit Floorplan Master Owner Trust A                   | CUSIP: 34528QJQ8<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |   27030000 | PA      | $27034278.85   | 0.24%             | 2031-09-15      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| Fortress Credit Opportunities                  | Fortress Credit Opportunities IX CLO Ltd.                    | CUSIP: 34961JAY0<br>LEI: 2549008RD44HDM6DNP14 | Long             | ABS-CBDO         | CORP              | KY        |  104086718 | PA      | $104171964.65  | 0.94%             | 2033-10-15      | Floating      | 5.48%                 | Yes           |                  2 | On Loan: No      |
| General Motors                                 | GMF Floorplan Owner Revolving Trust                          | CUSIP: 361886CW2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   18848000 | PA      | $19283961.78   | 0.17%             | 2030-06-15      | Fixed         | 5.34%                 | Yes           |                  2 | On Loan: No      |
| General Motors                                 | GMF Floorplan Owner Revolving Trust                          | CUSIP: 361886DF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   46933000 | PA      | $48004536.71   | 0.43%             | 2031-03-15      | Fixed         | 5.06%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                  | GS Mortgage-Backed Securities Trust 2022-PJ3                 | CUSIP: 362924BG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    9668915 | PA      | $8645897.79    | 0.08%             | 2052-08-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                  | GS Mortgage-Backed Securities Trust 2022-PJ3                 | CUSIP: 362924BK7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    4997821 | PA      | $4567652.72    | 0.04%             | 2052-08-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                  | GS Mortgage-Backed Securities Trust 2022-PJ5                 | CUSIP: 362925BG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   74381372 | PA      | $66100820.81   | 0.60%             | 2052-10-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| GM Financial Revolving Receiva                 | GM Financial Revolving Receivables Trust 2023-1              | CUSIP: 38012RAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   49942000 | PA      | $50800148.39   | 0.46%             | 2035-04-11      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| GM Financial Securitized Term                  | GM Financial Consumer Automobile Receivables Trust 2023-1    | CUSIP: 38013JAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   15767000 | PA      | $15810613.10   | 0.14%             | 2028-07-17      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners Funding                 | Golub Capital Partners ABS Funding 2020-1 Ltd.               | CUSIP: 38177UAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    6606220 | PA      | $6400066.41    | 0.06%             | 2029-01-22      | Fixed         | 3.21%                 | Yes           |                  2 | On Loan: No      |
| Golub Capital Partners Funding                 | Golub Capital Partners ABS Funding 2021-1 Ltd.               | CUSIP: 38178HAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   23219341 | PA      | $22122366.56   | 0.20%             | 2029-04-20      | Fixed         | 2.77%                 | Yes           |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd                 | Golub Capital Partners Clo 46M Ltd.                          | CUSIP: 38178UAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   41996000 | PA      | $42044589.37   | 0.38%             | 2037-04-20      | Floating      | 5.48%                 | Yes           |                  2 | On Loan: No      |
| Golub Capital Partners Funding                 | Golub Capital Partners ABS Funding 2021-2 Ltd.               | CUSIP: 38178XAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   47168501 | PA      | $44517347.84   | 0.40%             | 2029-10-19      | Fixed         | 2.94%                 | Yes           |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd                 | Golub Capital Partners CLO 67M                               | CUSIP: 38179PAA7<br>LEI: 2549002FTXMYDDCWWA09 | Long             | ABS-CBDO         | CORP              | US        |   43478000 | PA      | $43578695.05   | 0.39%             | 2036-05-09      | Floating      | 6.16%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38378B2X6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   11489589 | PA      | $147219.55     | 0.00%             | 2052-11-16      | Variable      | 0.43%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38378BE47<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   11199312 | PA      | $151045.12     | 0.00%             | 2053-01-16      | Variable      | 0.64%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38378BN62<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   29616364 | PA      | $169639.57     | 0.00%             | 2053-02-16      | Variable      | 0.16%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38378BWM7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   18263393 | PA      | $202539.21     | 0.00%             | 2053-03-16      | Variable      | 0.42%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38378XTL5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   19214361 | PA      | $116521.65     | 0.00%             | 2056-04-16      | Variable      | 0.27%                 | No            |                  2 | On Loan: No      |
| HRT DNT / HRT DNT FIN                          | Heartland Dental LLC / Heartland Dental Finance Corp.        | CUSIP: 42239PAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    8756000 | PA      | $8996790.00    | 0.08%             | 2028-04-30      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                    | Hertz Vehicle Financing III LP                               | CUSIP: 42806MAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   24795000 | PA      | $24426630.60   | 0.22%             | 2027-12-27      | Fixed         | 1.68%                 | Yes           |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                    | Hertz Vehicle Financing LLC                                  | CUSIP: 42806MAN9<br>LEI: 5493004IHDYOZ9K9WF47 | Long             | ABS-O            | CORP              | US        |   18873000 | PA      | $18460011.58   | 0.17%             | 2028-06-26      | Fixed         | 2.33%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust                 | Hyundai Auto Receivables Trust 2023-B                        | CUSIP: 44933XAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   10743000 | PA      | $10888183.05   | 0.10%             | 2029-08-15      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                       | JP Morgan Mortgage Trust 2021-7                              | CUSIP: 46592NAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   10211857 | PA      | $9201905.37    | 0.08%             | 2051-11-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                       | JP Morgan Mortgage Trust 2021-8                              | CUSIP: 46592TAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   10781408 | PA      | $9717018.54    | 0.09%             | 2051-12-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                       | JP Morgan Mortgage Trust 2021-13                             | CUSIP: 46592XAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   55731540 | PA      | $50228507.46   | 0.45%             | 2052-04-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| CNH Equipment Trust                            | CNH Equipment Trust 2023-B                                   | CUSIP: 12666DAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   17009000 | PA      | $17327546.25   | 0.16%             | 2031-03-17      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                       | JP Morgan Mortgage Trust 2021-6                              | CUSIP: 46653PAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    4721245 | PA      | $4260447.68    | 0.04%             | 2051-10-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                       | JP Morgan Mortgage Trust 2021-10                             | CUSIP: 46654AAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   39822760 | PA      | $35756521.33   | 0.32%             | 2051-12-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                       | JP Morgan Mortgage Trust 2021-10                             | CUSIP: 46654AAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   14812703 | PA      | $13017234.14   | 0.12%             | 2051-12-25      | Variable      | 2.00%                 | Yes           |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                       | JP Morgan Mortgage Trust 2021-11                             | CUSIP: 46654KAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   49921906 | PA      | $44922372.06   | 0.41%             | 2052-01-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                        | Carmax Auto Owner Trust 2023-2                               | CUSIP: 142921AE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   21176000 | PA      | $21359559.92   | 0.19%             | 2028-11-15      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                        | CarMax Auto Owner Trust 2023-1                               | CUSIP: 14318DAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   10892000 | PA      | $10925961.26   | 0.10%             | 2029-01-16      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                       | J.P. Morgan Mortgage Trust 2021-15                           | CUSIP: 46654TAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3159736 | PA      | $2829847.97    | 0.03%             | 2052-06-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                       | JP Morgan Mortgage Trust 2022-3                              | CUSIP: 46654UAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2877226 | PA      | $2570861.32    | 0.02%             | 2052-08-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140W2NA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   32226117 | PA      | $32078031.91   | 0.29%             | 2050-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140W4L39<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   66741550 | PA      | $64966624.91   | 0.59%             | 2049-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140XG2N8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   87823746 | PA      | $75780590.26   | 0.69%             | 2036-12-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140XHFH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  123857497 | PA      | $106873079.72  | 0.97%             | 2037-03-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140XKCF5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   63307061 | PA      | $61725663.36   | 0.56%             | 2046-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140XL5Z7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    7402833 | PA      | $7204773.86    | 0.07%             | 2048-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                       | J.P. Morgan Mortgage Trust 2022-4                            | CUSIP: 46655GAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5229101 | PA      | $4776052.63    | 0.04%             | 2052-10-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                       | JP Morgan Mortgage Trust Series 2024-3                       | CUSIP: 46657QAH4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   26262986 | PA      | $23974615.45   | 0.22%             | 2054-05-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| JP Morgan Seasoned Mortgage Tr                 | JP Morgan Seasoned Mortgage Trust Series 2025-1              | CUSIP: 46659PAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   25395044 | PA      | $23748355.66   | 0.21%             | 2063-01-25      | Variable      | 3.68%                 | Yes           |                  2 | On Loan: No      |
| US TREASURY N/B                                | United States Treasury Note                                  | CUSIP: 91282CPR6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  222098000 | PA      | $219096212.27  | 1.98%             | 2030-12-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140XM6A9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   19671100 | PA      | $17167020.22   | 0.16%             | 2042-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140XNMK7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    8923600 | PA      | $8692055.12    | 0.08%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                  | GS Mortgage-Backed Securities Corp. Trust 2021-PJ5           | CUSIP: 36261HAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   36028767 | PA      | $32437603.05   | 0.29%             | 2051-10-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                  | GS Mortgage-Backed Securities Trust 2021-PJ7                 | CUSIP: 36262CAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   27409708 | PA      | $24581357.38   | 0.22%             | 2052-01-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| US TREASURY N/B                                | United States Treasury Note                                  | CUSIP: 91282CPW5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  817547000 | PA      | $810648947.19  | 7.33%             | 2031-01-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                | United States Treasury Note                                  | CUSIP: 91282CQD6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 1025343000 | PA      | $1005476979.38 | 9.10%             | 2031-02-28      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38378KEX3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   14622298 | PA      | $916.82        | 0.00%             | 2053-12-16      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38378KQ69<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    6332085 | PA      | $93095.58      | 0.00%             | 2054-10-16      | Variable      | 0.25%                 | No            |                  2 | On Loan: No      |
| VCP RRL ABS I, Ltd                             | VCP RRL ABS I Ltd.                                           | CUSIP: 92243RAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   12570129 | PA      | $11754000.79   | 0.11%             | 2031-10-20      | Fixed         | 2.15%                 | Yes           |                  2 | On Loan: No      |
| Verizon Master Trust                           | Verizon Master Trust                                         | CUSIP: 92348KCH4<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |   85708000 | PA      | $87067226.03   | 0.79%             | 2031-12-22      | Fixed         | 4.83%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38378N5W9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    7817569 | PA      | $48886.38      | 0.00%             | 2047-12-16      | Variable      | 0.48%                 | No            |                  2 | On Loan: No      |
| John Deere Owner Trust                         | John Deere Owner Trust 2023-C                                | CUSIP: 47787CAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   15742000 | PA      | $15990956.58   | 0.14%             | 2030-08-15      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| John Deere Owner Trust                         | John Deere Owner Trust 2023-B                                | CUSIP: 477920AD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   11706000 | PA      | $11809610.98   | 0.11%             | 2030-05-15      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| John Deere Owner Trust                         | John Deere Owner Trust 2023                                  | CUSIP: 47800CAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   15675000 | PA      | $15777221.38   | 0.14%             | 2029-12-17      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                           | Verizon Master Trust                                         | CUSIP: 92348KDJ9<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |   31930000 | PA      | $31868311.24   | 0.29%             | 2032-08-20      | Fixed         | 4.35%                 | Yes           |                  2 | On Loan: No      |
| Verizon Master Trust                           | Verizon Master Trust                                         | CUSIP: 92348VAA7<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |   76585000 | PA      | $78821971.27   | 0.71%             | 2031-09-22      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| KANSAS GAS SVC SEC I LLC                       | Kansas Gas Service Securitization I LLC                      | CUSIP: 484915AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   38430624 | PA      | $39583838.39   | 0.36%             | 2032-08-01      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| Kubota Credit Owner Trust                      | Kubota Credit Owner Trust 2023-2                             | CUSIP: 500945AD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   12897000 | PA      | $13025853.93   | 0.12%             | 2028-06-15      | Fixed         | 5.23%                 | Yes           |                  2 | On Loan: No      |
| Kubota Credit Owner Trust                      | Kubota Credit Owner Trust 2023-1                             | CUSIP: 50117KAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    9456000 | PA      | $9514974.24    | 0.09%             | 2029-02-15      | Fixed         | 5.07%                 | Yes           |                  2 | On Loan: No      |
| M&T Equipment Notes                            | M&T Equipment 2023-LEAF1 Notes                               | CUSIP: 551925AC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    9785000 | PA      | $9879774.57    | 0.09%             | 2030-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                     | Progress Residential 2025-SFR2 Trust                         | CUSIP: 74334GAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   21841259 | PA      | $20603877.85   | 0.19%             | 2042-04-17      | Fixed         | 3.31%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                     | Progress Residential 2024-SFR4 Trust                         | CUSIP: 74334JAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   27138582 | PA      | $25742923.36   | 0.23%             | 2041-07-17      | Fixed         | 3.10%                 | Yes           |                  2 | On Loan: No      |
| SFS Auto Receivables Securitiz                 | SFS Auto Receivables Securitization Trust 2023-1             | CUSIP: 78398AAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    8951000 | PA      | $9063370.85    | 0.08%             | 2029-12-20      | Fixed         | 5.47%                 | Yes           |                  2 | On Loan: No      |
| SBA TOWER TRUST                                | SBA Tower Trust                                              | CUSIP: 78403DAR1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   17196000 | PA      | $16425896.06   | 0.15%             | 2028-01-15      | Fixed         | 2.33%                 | Yes           |                  2 | On Loan: No      |
| SBA TOWER TRUST                                | SBA Tower Trust                                              | CUSIP: 78403DAT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   14427000 | PA      | $14144741.52   | 0.13%             | 2026-11-15      | Fixed         | 1.63%                 | Yes           |                  2 | On Loan: No      |
| SBA TOWER TRUST                                | SBA Tower Trust                                              | CUSIP: 78403DAZ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   12423000 | PA      | $12578337.19   | 0.11%             | 2028-01-15      | Fixed         | 6.60%                 | Yes           |                  2 | On Loan: No      |
| SCE RECOVERY FUNDING LLC                       | SCE Recovery Funding LLC                                     | CUSIP: 78433LAJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   73845000 | PA      | $73198856.25   | 0.66%             | 2036-03-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                         | Sequoia Mortgage Trust 2021-4                                | CUSIP: 81748WAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3613927 | PA      | $3251794.25    | 0.03%             | 2051-06-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                         | Sequoia Mortgage Trust 2021-5                                | CUSIP: 81748XAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    4264252 | PA      | $3836254.50    | 0.03%             | 2051-07-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                         | Sequoia Mortgage Trust 2022-1                                | CUSIP: 81749CAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    4100505 | PA      | $3659936.33    | 0.03%             | 2052-02-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                         | Sequoia Mortgage Trust 2025-S1                               | CUSIP: 81749TAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   46369978 | PA      | $41325151.62   | 0.37%             | 2054-09-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| SFS Auto Receivables Securitiz                 | SFS Auto Receivables Securitization Trust 2026-1             | CUSIP: 81885FAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    9026000 | PA      | $8940494.90    | 0.08%             | 2032-01-20      | Fixed         | 4.07%                 | Yes           |                  2 | On Loan: No      |
| Springcastle SPV                               | SpringCastle America Funding LLC                             | CUSIP: 85022WAP9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    6517845 | PA      | $6108171.30    | 0.06%             | 2037-09-25      | Fixed         | 1.97%                 | Yes           |                  2 | On Loan: No      |
| TEXAS ELECTRIC MKT STABL                       | Texas Electric Market Stabilization Funding N LLC            | CUSIP: 88240TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   27673243 | PA      | $27457688.09   | 0.25%             | 2036-08-01      | Fixed         | 4.26%                 | Yes           |                  2 | On Loan: No      |
| TEXAS NATURAL GAS SECURITIZTN                  | Texas Natural Gas Securitization Finance Corp.               | CUSIP: 88258MAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    7168189 | PA      | $7346957.24    | 0.07%             | 2035-04-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                      | Towd Point Mortgage Trust 2020-4                             | CUSIP: 89179JAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5962354 | PA      | $5463579.97    | 0.05%             | 2060-10-25      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                      | Towd Point Mortgage Trust 2023-1                             | CUSIP: 89181JAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   16907717 | PA      | $16293763.54   | 0.15%             | 2063-01-25      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner                  | Toyota Auto Receivables 2023-A Owner Trust                   | CUSIP: 891940AD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   16189000 | PA      | $16256678.11   | 0.15%             | 2028-08-15      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner                  | Toyota Auto Receivables 2023-B Owner Trust                   | CUSIP: 891941AE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   19879000 | PA      | $19987469.76   | 0.18%             | 2028-09-15      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Loan Extended Note                 | Toyota Auto Loan Extended Note Trust 2022-1                  | CUSIP: 89231EAA1<br>LEI: 549300VJ12IVOF78MZ11 | Long             | ABS-O            | CORP              | US        |   54519000 | PA      | $54347663.14   | 0.49%             | 2035-04-25      | Fixed         | 3.82%                 | Yes           |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner                  | Toyota Auto Receivables 2023-C Owner Trust                   | CUSIP: 89231FAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   25523000 | PA      | $25816409.86   | 0.23%             | 2029-02-15      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Loan Extended Note                 | Toyota Auto Loan Extended Note Trust 2024-1                  | CUSIP: 89231JAA0<br>LEI: 254900CVU48B7WLCPS92 | Long             | ABS-O            | CORP              | US        |   56286000 | PA      | $57868576.58   | 0.52%             | 2036-11-25      | Fixed         | 5.16%                 | Yes           |                  2 | On Loan: No      |
| Toyota Auto Loan Extended Note                 | Toyota Auto Loan Extended Note Trust 2023-1                  | CUSIP: 89231WAA1<br>LEI: 5493000KI9FC40RVHF71 | Long             | ABS-O            | CORP              | US        |   43813000 | PA      | $44622550.33   | 0.40%             | 2036-06-25      | Fixed         | 4.93%                 | Yes           |                  2 | On Loan: No      |
| TREASURY BILL                                  | United States Treasury Bill                                  | CUSIP: 912797QD2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  207355000 | PA      | $207043535.46  | 1.87%             | 2026-04-16      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA POWER FUEL SEC                        | Virginia Power Fuel Securitization LLC                       | CUSIP: 92808VAB8<br>LEI: 254900BELJ95ONW6U791 | Long             | DBT              | CORP              | US        |   58246000 | PA      | $58537230.00   | 0.53%             | 2031-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Volkswagen Auto Loan Enhanced                  | Volkswagen Auto Loan Enhanced Trust 2023-1                   | CUSIP: 92867WAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   11637000 | PA      | $11723654.92   | 0.11%             | 2030-01-22      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Volvo Financial Equipment LLC                  | Volvo Financial Equipment LLC Series 2025-2                  | CUSIP: 92886CAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    4788000 | PA      | $4768100.11    | 0.04%             | 2033-06-15      | Fixed         | 4.06%                 | Yes           |                  2 | On Loan: No      |
| PROP SERIES 2017 1A 5.30% 3/15/2042   /        | PROP SERIES 2017 1A 5.30% 3/15/2042   /                      | CUSIP: 930RAXII5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    7178460 | PA      | $6855429.54    | 0.06%             | 2042-03-15      | Fixed         | 5.30%                 | Yes           |                  3 | On Loan: No      |
| LEALAND FINANCE Co. B.V. SUPER SNR EXIT LC   / | LEALAND FINANCE Co. B.V. SUPER SNR EXIT LC   /               | CUSIP: 935IFTII4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    8942164 | PA      | $7980881.78    | 0.07%             | 2027-06-30      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Wells Fargo Mortgage Backed Se                 | Wells Fargo Mortgage Backed Securities 2021-2 Trust          | CUSIP: 949798AC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5737694 | PA      | $5144712.86    | 0.05%             | 2051-06-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Se                 | Wells Fargo Mortgage Backed Securities 2022-2 Trust          | CUSIP: 949930AD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   12457562 | PA      | $11094472.95   | 0.10%             | 2051-12-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Se                 | Wells Fargo Mortgage Backed Securities 2022-1 Trust          | CUSIP: 95003HAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2391907 | PA      | $2135683.04    | 0.02%             | 2051-08-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| WEPCo Environmental Trust Fina                 | WEPCO ENVIRONMENTAL TRUST FINANCE I LLC                      | CUSIP: 950739AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    7851363 | PA      | $7055658.60    | 0.06%             | 2035-12-15      | Fixed         | 1.58%                 | No            |                  2 | On Loan: No      |
| HLEND SENIOR NOTES DUE 3/15/2028   /           | HLEND SENIOR NOTES DUE 3/15/2028   /                         | CUSIP: 952JRDII2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   42500000 | PA      | $42500000.00   | 0.38%             | 2028-03-15      | Fixed         | 8.17%                 | Yes           |                  3 | On Loan: No      |
| World Omni Auto Receivables Tr                 | World Omni Auto Receivables Trust 2023-C                     | CUSIP: 98164FAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   10417000 | PA      | $10513163.49   | 0.10%             | 2029-11-15      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| World Omni Auto Receivables Tr                 | World Omni Auto Receivables Trust 2023-A                     | CUSIP: 98164JAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   14612000 | PA      | $14675262.65   | 0.13%             | 2029-05-15      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| World Omni Auto Receivables Tr                 | World Omni Auto Receivables Trust 2023-B                     | CUSIP: 98164QAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   21627000 | PA      | $21726043.01   | 0.20%             | 2029-05-15      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| AIPCF VIII A-BL AGGREGATOR CAYMAN LP   /       | AIPCF VIII A-BL AGGREGATOR CAYMAN LP   /                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   39831957 | NS      | $49921391.71   | 0.45%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Apollo Debt Solution BDC Senior Notes   /      | APOLLO DEBT SOLUTION DELAYED DRAW TERM LO   /                | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   26023000 | PA      | $26023000.00   | 0.24%             | 2028-09-28      | Fixed         | 8.62%                 | Yes           |                  3 | On Loan: No      |
| JC PENNEY CORP INC                             | Copper Sub Corp., Inc.                                       | CUSIP: 46611NAJ2<br>LEI: 8TDNUQ07MEFMWW1VHP39 | Long             | LON              | CORP              | US        |   26302796 | PA      | $2630.28       | 0.00%             | 2027-06-23      | Floating      | 5.57%                 | Yes           |                  3 | On Loan: No      |
| LEALAND FINANCE CO BV                          | Lealand Finance Co. B.V.                                     | CUSIP: N5200EAB7<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |     359953 | PA      | $295161.44     | 0.00%             | 2027-12-31      | Floating      | 7.78%                 | Yes           |                  3 | On Loan: No      |
| CAPSTONE ACQ HLDGS BANK DEBT 11/12/2029   /    | CAPSTONE ACQ HLDGS BANK DEBT 11/12/2029   /                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   19072139 | PA      | $19367642.53   | 0.18%             | 2029-11-12      | Variable      | 8.27%                 | Yes           |                  3 | On Loan: No      |
| Copper Property CTL Pass Throu                 | Copper Property CTL Pass-Through Trust                       | CUSIP: 217519107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     520208 | NS      | $5649458.88    | 0.05%             |  |  |  | Yes           |                  1 | On Loan: No      |
| MSILF Treasury Portfolio                       | MSILF Treasury Portfolio - Class Institutional               | CUSIP: 61747C582<br>LEI: 549300D1XR6GP7EZ0T47 | Long             | STIV             | RF                | US        |   33871704 | PA      | $33871704.35   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| OCREDIT BDC SENIOR NOTE DDTL   /               | OCREDIT BDC SENIOR NOTE DDTL   /                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   12891000 | PA      | $12891000.00   | 0.12%             | 2029-03-07      | Fixed         | 7.77%                 | Yes           |                  3 | On Loan: No      |
| PHI Group Inc/DE                               | PHI Group, Inc.                                              | CUSIP: 69360B104<br>LEI: 5493002853B5XXHLIP12 | Long             | EC               | CORP              | US        |    3806420 | NS      | $114002279.00  | 1.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FLYV0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    2376000 | PA      | $2318894.74    | 0.02%             | 2029-04-25      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FMCR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    4263420 | PA      | $4132620.89    | 0.04%             | 2029-05-25      | Fixed         | 2.98%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FMTY8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   71380000 | PA      | $68731923.35   | 0.62%             | 2029-06-25      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FNAE0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   84442000 | PA      | $81020967.48   | 0.73%             | 2029-06-25      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FNB82<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   91996000 | PA      | $87486254.88   | 0.79%             | 2029-07-25      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FNX54<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   40814000 | PA      | $38758570.23   | 0.35%             | 2029-07-25      | Fixed         | 2.51%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FPJG1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   19173000 | PA      | $18226467.34   | 0.16%             | 2029-09-25      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FQ3Z4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   49942000 | PA      | $47185596.14   | 0.43%             | 2029-10-25      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FQKC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   33400000 | PA      | $31723173.04   | 0.29%             | 2029-10-25      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FQKN2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   47045000 | PA      | $44686474.20   | 0.40%             | 2029-11-25      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FREH0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   16200000 | PA      | $15227416.80   | 0.14%             | 2030-01-25      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FRUJ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    3071000 | PA      | $2825325.83    | 0.03%             | 2030-01-25      | Fixed         | 1.87%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FRUT6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   11740000 | PA      | $10918632.03   | 0.10%             | 2030-01-25      | Fixed         | 2.07%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FRZA2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    4756000 | PA      | $4375452.94    | 0.04%             | 2030-01-25      | Fixed         | 1.64%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FTBM8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    9186000 | PA      | $8326351.16    | 0.08%             | 2030-03-25      | Fixed         | 1.52%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FTFY8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   17591000 | PA      | $15909398.91   | 0.14%             | 2030-04-25      | Fixed         | 1.56%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FUZC1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1742000 | PA      | $1559399.38    | 0.01%             | 2030-05-25      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FVNG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    9465000 | PA      | $8473895.24    | 0.08%             | 2030-06-25      | Fixed         | 1.37%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FWHT0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    3768000 | PA      | $3373520.54    | 0.03%             | 2030-07-25      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| ABPCI Direct Lending Fund ABS                  | ABPCI Direct Lending Fund ABS II LLC                         | CUSIP: 00090NAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   19889828 | PA      | $19826439.29   | 0.18%             | 2032-03-01      | Floating      | 5.77%                 | Yes           |                  2 | On Loan: No      |
| ABPCI Direct Lending Fund ABS                  | ABPCI Direct Lending Fund ABS I Ltd.                         | CUSIP: 00090TAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   20112753 | PA      | $18324668.64   | 0.17%             | 2030-12-29      | Fixed         | 3.20%                 | Yes           |                  2 | On Loan: No      |
| Ally Auto Receivables Trust                    | Ally Auto Receivables Trust 2023-1                           | CUSIP: 02007WAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    8996000 | PA      | $9103960.10    | 0.08%             | 2028-11-15      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER TRUST I                         | American Tower Trust #1                                      | CUSIP: 03027WAM4<br>LEI: 5493004YGM0MQZJOEJ36 | Long             | DBT              | CORP              | US        |   77012000 | PA      | $77751777.27   | 0.70%             | 2028-03-15      | Fixed         | 5.49%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                 | Avis Budget Rental Car Funding AESOP LLC                     | CUSIP: 05377RGY4<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   18490000 | PA      | $18885639.78   | 0.17%             | 2029-06-20      | Fixed         | 5.49%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                 | Avis Budget Rental Car Funding AESOP LLC                     | CUSIP: 05377RHG2<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   48017000 | PA      | $49530010.87   | 0.45%             | 2029-12-20      | Fixed         | 5.81%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                 | Avis Budget Rental Car Funding AESOP LLC                     | CUSIP: 05377RHM9<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   34038000 | PA      | $35329258.76   | 0.32%             | 2030-02-20      | Fixed         | 6.02%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                 | Avis Budget Rental Car Funding AESOP LLC                     | CUSIP: 05377RHY3<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   14768000 | PA      | $15106182.77   | 0.14%             | 2030-06-20      | Fixed         | 5.36%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                 | Avis Budget Rental Car Funding AESOP LLC                     | CUSIP: 05377RJK1<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   57519000 | PA      | $58635857.93   | 0.53%             | 2030-12-20      | Fixed         | 5.23%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                 | Avis Budget Rental Car Funding AESOP LLC                     | CUSIP: 05377RLG7<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   14596000 | PA      | $14437554.58   | 0.13%             | 2032-08-20      | Fixed         | 4.60%                 | Yes           |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                        | Carmax Auto Owner Trust 2023-3                               | CUSIP: 14319BAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   20637000 | PA      | $20894749.94   | 0.19%             | 2029-02-15      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY RE II                       | Centerpoint Energy Restoration Bond Co. II LLC               | CUSIP: 15201GAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   61032000 | PA      | $60040230.00   | 0.54%             | 2035-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Cerberus                                       | Cerberus Loan Funding XLI LLC                                | CUSIP: 15674VAA2<br>LEI: 635400YAOHPN8ZVJAS71 | Long             | ABS-CBDO         | CORP              | US        |   51840000 | PA      | $51981575.04   | 0.47%             | 2035-07-15      | Floating      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| Cerberus                                       | Cerberus Loan Funding XL LLC                                 | CUSIP: 15675AAA7<br>LEI: 635400FRD1HEGKSHCI69 | Long             | ABS-CBDO         | CORP              | US        |   10299000 | PA      | $10323552.82   | 0.09%             | 2035-03-22      | Floating      | 6.07%                 | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3132DUCC9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   39982850 | PA      | $39806353.50   | 0.36%             | 2045-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3133D3VP7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    3751440 | PA      | $3193232.55    | 0.03%             | 2041-02-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3133D3XV2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   31141807 | PA      | $26445532.05   | 0.24%             | 2041-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3133KYT90<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    3758132 | PA      | $3311507.66    | 0.03%             | 2040-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3133KYTV1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   17171837 | PA      | $15140310.93   | 0.14%             | 2040-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3133KYU56<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   83042367 | PA      | $70515442.72   | 0.64%             | 2041-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3133KYU80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   23507441 | PA      | $19930649.76   | 0.18%             | 2041-04-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3133KYUH0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    9919573 | PA      | $8450297.40    | 0.08%             | 2040-11-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3133KYUP2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    5611172 | PA      | $4929681.56    | 0.04%             | 2040-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3133KYV30<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   15858412 | PA      | $13364036.24   | 0.12%             | 2041-11-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3133KYV63<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   61083585 | PA      | $51443691.00   | 0.47%             | 2041-12-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3133KYVB2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   72962735 | PA      | $61822609.91   | 0.56%             | 2041-05-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3133KYVE6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   67865275 | PA      | $57454585.74   | 0.52%             | 2041-06-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3133KYVJ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   10247114 | PA      | $8666745.38    | 0.08%             | 2041-07-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                             | CUSIP: 3133KYVN6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    6511987 | PA      | $5688560.80    | 0.05%             | 2041-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FJKE8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   46777000 | PA      | $46484929.09   | 0.42%             | 2028-09-25      | Variable      | 3.92%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FJXV6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   24028000 | PA      | $23950874.93   | 0.22%             | 2028-09-25      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FJZ93<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   68841723 | PA      | $68318181.70   | 0.62%             | 2028-10-25      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FK4M5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   27924000 | PA      | $27833043.15   | 0.25%             | 2028-10-25      | Variable      | 4.06%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FKZZ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    4691000 | PA      | $4639933.30    | 0.04%             | 2029-01-25      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FL6P4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   27195714 | PA      | $26771322.16   | 0.24%             | 2029-01-25      | Fixed         | 3.56%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FLMV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   43626000 | PA      | $42793327.99   | 0.39%             | 2029-02-25      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137FLN91<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   25293822 | PA      | $24842013.63   | 0.22%             | 2029-03-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140XPK32<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   36412720 | PA      | $35485747.10   | 0.32%             | 2045-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140XPPN3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    4910864 | PA      | $4786758.27    | 0.04%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140XPQB8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    7779892 | PA      | $7578750.43    | 0.07%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140XPRW1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   55410692 | PA      | $48183320.05   | 0.44%             | 2042-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140XQ5L7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   12475908 | PA      | $11275836.93   | 0.10%             | 2035-12-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140XRVQ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   57024485 | PA      | $50124887.58   | 0.45%             | 2041-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140XRYW9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   17726260 | PA      | $15052645.61   | 0.14%             | 2042-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38378X2M2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    9684015 | PA      | $178209.12     | 0.00%             | 2057-01-16      | Variable      | 0.49%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38378XGD7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   10799900 | PA      | $44734.27      | 0.00%             | 2057-01-16      | Variable      | 0.10%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38378XJ85<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   47611692 | PA      | $603002.08     | 0.01%             | 2056-04-16      | Variable      | 0.46%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38378XR94<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   46955085 | PA      | $821864.24     | 0.01%             | 2056-05-16      | Variable      | 0.55%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                  | GS Mortgage-Backed Securities Trust 2022-PJ1                 | CUSIP: 36263NAH8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5833766 | PA      | $5204204.13    | 0.05%             | 2052-05-28      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                  | GS Mortgage-Backed Securities Corp. Trust 2021-PJ4           | CUSIP: 36264PAH2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    9296839 | PA      | $8379533.94    | 0.08%             | 2051-09-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38378XRJ2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    4737846 | PA      | $72126.60      | 0.00%             | 2056-04-16      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38378XUN9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   20842835 | PA      | $107413.55     | 0.00%             | 2055-05-16      | Variable      | 0.18%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                  | GS Mortgage-Backed Securities Corp. Trust 2022-PJ4           | CUSIP: 36264RBE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   32112708 | PA      | $28643768.29   | 0.26%             | 2052-09-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                  | GS Mortgage-Backed Securities Corp. Trust 2022-PJ4           | CUSIP: 36264RBH7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5998598 | PA      | $5471243.46    | 0.05%             | 2052-09-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                  | GS Mortgage-Backed Securities Corp. Trust 2022-PJ2           | CUSIP: 36267EBT7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   12906502 | PA      | $11801542.93   | 0.11%             | 2052-06-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                  | GS Mortgage-Backed Securities Trust 2022-PJ6                 | CUSIP: 36267JAX8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   46917288 | PA      | $41769438.89   | 0.38%             | 2053-01-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| GM Financial Securitized Term                  | GM Financial Consumer Automobile Receivables Trust 2023-3    | CUSIP: 36267KAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   13758000 | PA      | $13911393.45   | 0.13%             | 2028-12-18      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| GM Financial Revolving Receiva                 | GM Financial Revolving Receivables Trust 2023-2              | CUSIP: 36268DAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   12704000 | PA      | $13160624.95   | 0.12%             | 2036-08-11      | Fixed         | 5.77%                 | Yes           |                  2 | On Loan: No      |
| GM Financial Revolving Receiva                 | GM Financial Revolving Receivables Trust 2024-1              | CUSIP: 36269KAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   64237000 | PA      | $65739863.16   | 0.59%             | 2036-12-11      | Fixed         | 4.98%                 | Yes           |                  2 | On Loan: No      |
| MERCEDES-BENZ AUTO RECEIVABLES                 | Mercedes-Benz Auto Receivables Trust 2024-1                  | CUSIP: 587918AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    8831000 | PA      | $8919760.38    | 0.08%             | 2031-07-15      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                     | MMAF Equipment Finance LLC 2020-A                            | CUSIP: 60700MAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    7081000 | PA      | $6879253.81    | 0.06%             | 2042-10-09      | Fixed         | 1.56%                 | Yes           |                  2 | On Loan: No      |
| Monroe Capital ABS Funding LTD                 | Monroe Capital ABS Funding 2021-1 Ltd.                       | CUSIP: 610331AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   16592066 | PA      | $15282951.86   | 0.14%             | 2031-04-22      | Fixed         | 2.81%                 | Yes           |                  2 | On Loan: No      |
| Nissan Auto Receivables Owner                  | Nissan Auto Receivables 2022-B Owner Trust                   | CUSIP: 65480JAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   13366000 | PA      | $13382166.18   | 0.12%             | 2029-11-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Nissan Auto Receivables Owner                  | Nissan Auto Receivables 2023-A Owner Trust                   | CUSIP: 65480WAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   15538000 | PA      | $15605835.80   | 0.14%             | 2030-06-17      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38379K3S5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   42236559 | PA      | $384428.71     | 0.00%             | 2057-07-16      | Variable      | 0.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38379KAT5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   26058359 | PA      | $318584.28     | 0.00%             | 2057-01-16      | Variable      | 0.29%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                       | OBX 2022-J1 Trust                                            | CUSIP: 67116WAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   37081104 | PA      | $33781720.13   | 0.31%             | 2052-02-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| OAKTREE STRATEGIC CREDIT                       | Oaktree Strategic Credit Fund                                | CUSIP: 67403AAB5<br>LEI: 2549006RRE0JC7G43241 | Long             | DBT              | CORP              | US        |   27351000 | PA      | $28682810.45   | 0.26%             | 2028-11-14      | Fixed         | 8.40%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38379KEL8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    4355125 | PA      | $20523.09      | 0.00%             | 2056-09-16      | Variable      | 0.16%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38379KV54<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    7228228 | PA      | $99292.00      | 0.00%             | 2057-09-16      | Variable      | 0.37%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                       | OBX 2021-J3 Trust                                            | CUSIP: 67448XAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2272502 | PA      | $2042898.36    | 0.02%             | 2051-10-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| OKLAHOMA ST DEV FIN AUTH                       | Oklahoma Development Finance Authority                       | CUSIP: 6789083Z5<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |    7854317 | PA      | $7830901.78    | 0.07%             | 2034-02-01      | Fixed         | 4.29%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38379KYD4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1309187 | PA      | $5542.57       | 0.00%             | 2056-10-16      | Variable      | 0.34%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38379UD37<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   78641715 | PA      | $3064384.52    | 0.03%             | 2058-09-16      | Variable      | 0.97%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38379UQY5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   23977058 | PA      | $467861.94     | 0.00%             | 2058-01-16      | Variable      | 0.46%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38379Y6T0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   28371907 | PA      | $894526.50     | 0.01%             | 2057-12-16      | Variable      | 0.82%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST DEV FIN AUTH                       | Oklahoma Development Finance Authority                       | CUSIP: 6789084C5<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |   18690137 | PA      | $18414807.78   | 0.17%             | 2037-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST DEV FIN AUTH                       | Oklahoma Development Finance Authority                       | CUSIP: 6789084F8<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |   22036713 | PA      | $21920027.56   | 0.20%             | 2033-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38380PAD6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   37701507 | PA      | $3034978.88    | 0.03%             | 2061-11-16      | Variable      | 1.26%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38380PBP8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  120112881 | PA      | $7723630.62    | 0.07%             | 2062-03-16      | Variable      | 0.94%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME                         | Blue Owl Credit Income Corp.                                 | CUSIP: 69120VBB6<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |   22579000 | PA      | $23120805.68   | 0.21%             | 2028-06-13      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| PG&E WILDFIRE RECOVERY                         | PG&E Wildfire Recovery Funding LLC                           | CUSIP: 693342AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   36103277 | PA      | $35651985.69   | 0.32%             | 2031-06-01      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne                 | PRET 2024-RPL1 Trust                                         | CUSIP: 693989AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    6950780 | PA      | $6659154.36    | 0.06%             | 2063-10-25      | Variable      | 3.90%                 | Yes           |                  2 | On Loan: No      |
| PG&E RECOVERY FND LLC                          | PG&E Recovery Funding LLC                                    | CUSIP: 71710TAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   29285359 | PA      | $29651425.59   | 0.27%             | 2032-07-15      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38380PHG2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   45514651 | PA      | $2829231.68    | 0.03%             | 2062-01-16      | Variable      | 1.06%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38380PLB8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   90515049 | PA      | $5119657.88    | 0.05%             | 2062-02-16      | Variable      | 0.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                 | Government National Mortgage Association                     | CUSIP: 38384P7L8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   14870430 | PA      | $13727341.72   | 0.12%             | 2045-06-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GREAT AMERICA LEASING RECEIVAB                 | GreatAmerica Leasing Receivables Funding LLC Series 2023-1   | CUSIP: 39154TCD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   16501000 | PA      | $16664643.72   | 0.15%             | 2030-03-15      | Fixed         | 5.06%                 | Yes           |                  2 | On Loan: No      |
| GREAT AMERICA LEASING RECEIVAB                 | GreatAmerica Leasing Receivables Funding LLC                 | CUSIP: 39154TCR7<br>LEI: 549300JFP7GIDD4UWO79 | Long             | ABS-O            | CORP              | US        |    8123000 | PA      | $8132906.00    | 0.07%             | 2032-09-15      | Fixed         | 4.29%                 | Yes           |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU                       | HPS Corporate Lending Fund                                   | CUSIP: 40440VAF2<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |   24864000 | PA      | $25188885.46   | 0.23%             | 2029-01-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PG&E RECOVERY FND LLC                          | PG&E Recovery Funding LLC                                    | CUSIP: 71710TAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   11550710 | PA      | $11721602.83   | 0.11%             | 2033-06-01      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Porsche Financial Auto Securit                 | Porsche Financial Auto Securitization Trust 2023-1           | CUSIP: 73328QAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   17279000 | PA      | $17359419.92   | 0.16%             | 2031-06-23      | Fixed         | 4.72%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                     | Progress Residential 2024-SFR3 Trust                         | CUSIP: 74331VAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   16051066 | PA      | $15199760.48   | 0.14%             | 2041-06-17      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                     | Progress Residential 2024-SFR5 Trust                         | CUSIP: 74332HAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   13162240 | PA      | $12427539.85   | 0.11%             | 2029-08-09      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                     | Progress Residential 2021-SFR10 Trust                        | CUSIP: 74333WAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   47145146 | PA      | $44618392.03   | 0.40%             | 2040-12-17      | Fixed         | 2.39%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                     | Progress Residential 2021-SFR11 Trust                        | CUSIP: 74333XAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   13629642 | PA      | $12869884.54   | 0.12%             | 2039-01-17      | Fixed         | 2.28%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                     | Progress Residential 2025-SFR3 Trust                         | CUSIP: 74334BAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   16479000 | PA      | $15581530.59   | 0.14%             | 2042-07-17      | Fixed         | 3.39%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential Trust                     | Progress Residential 2025-SFR6 Trust                         | CUSIP: 74334EAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   14804000 | PA      | $14290819.34   | 0.13%             | 2042-12-17      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                 | Freddie Mac Multifamily Structured Pass-Through Certificates | CUSIP: 3137HBC51<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   75127967 | PA      | $77183077.51   | 0.70%             | 2030-11-25      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae REMICS                                            | CUSIP: 31398RDH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     126369 | PA      | $127430.84     | 0.00%             | 2040-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140JCCP7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   21580589 | PA      | $19847663.71   | 0.18%             | 2051-08-01      | Floating      | 1.97%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140JCE42<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   20562985 | PA      | $18731017.96   | 0.17%             | 2052-04-01      | Floating      | 1.89%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140KFGF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   12607332 | PA      | $11094830.08   | 0.10%             | 2040-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140L0LQ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    8423007 | PA      | $7366308.20    | 0.07%             | 2041-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140LS6W1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2661942 | PA      | $2430439.95    | 0.02%             | 2051-07-01      | Floating      | 1.73%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140LTAH7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1756117 | PA      | $1592560.03    | 0.01%             | 2051-09-01      | Floating      | 1.61%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140W0CF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    5561896 | PA      | $4693773.90    | 0.04%             | 2042-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140W0H24<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   28122089 | PA      | $27997789.11   | 0.25%             | 2050-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140W1LC5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   27563550 | PA      | $23298939.88   | 0.21%             | 2042-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140W1N90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   40996206 | PA      | $34628372.19   | 0.31%             | 2042-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                              | CUSIP: 3140W1VV2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   49858750 | PA      | $42039093.03   | 0.38%             | 2042-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-13

**Name of Applicant:** Investment Managers Series Trust III

**Signature:** /s/ Maureen Quill

**Name of Signer:** Maureen Quill

**Title:** President