# EDGAR Filing Document

**Accession Number:** 0001081400
**File Stem:** 0001752724-25-203588
**Filing Date:** 2025-8
**Character Count:** 327182
**Document Hash:** 07b8b17b7338e2161abc161586cbab4d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-203588.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-203588

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALLSPRING FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001081400

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09253
- **FILM NUMBER:** 251253296

**BUSINESS ADDRESS:**
- **STREET 1:** 1415 VANTAGE PARK DRIVE
- **STREET 2:** 3RD FLOOR
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28203
- **BUSINESS PHONE:** 833-568-4225

**MAIL ADDRESS:**
- **STREET 1:** 1415 VANTAGE PARK DRIVE
- **STREET 2:** 3RD FLOOR
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WELLS FARGO FUNDS TRUST
- **DATE OF NAME CHANGE:** 19990308

## Series and Classes Contracts Data

### Allspring Income Plus Fund (Series ID: S000039677)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000122975 | Administrator Class | WSIDX           |
| C000122976 | Institutional Class | WSINX           |
| C000122977 | Class A             | WSIAX           |
| C000122978 | Class C             | WSICX           |

## Nport-Ex

Portfolio of investments—June 30, 2025 (unaudited)

Portfolio of investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest <br>rate<br>| Maturity <br>date<br>| Principal | Value |
| **Agency securities: 34.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; FHLMC## | 5.50<br> %<br>| &nbsp;&nbsp; 10-1-2054 | $4695982 | &nbsp;&nbsp; $4696864 |
| &nbsp;&nbsp;&nbsp; FNMA%% | 5.50 | &nbsp;&nbsp; 7-15-2054 | 4385000 | &nbsp;&nbsp; 4383997 |
| &nbsp;&nbsp;&nbsp; FNMA%% | 6.00 | &nbsp;&nbsp; 7-15-2054 | 11245000 | &nbsp;&nbsp; 11426301 |
| &nbsp;&nbsp;&nbsp; FNMA%% | 6.50 | &nbsp;&nbsp; 7-15-2054 | 11515000 | &nbsp;&nbsp; 11888968 |
| &nbsp;&nbsp;&nbsp; GNMA## | 5.00 | &nbsp;&nbsp; 12-20-2054 | 1521248 | &nbsp;&nbsp; 1495235 |
| &nbsp;&nbsp;&nbsp; GNMA## | 5.50 | &nbsp;&nbsp; 12-20-2054 | 2887811 | &nbsp;&nbsp; 2893365 |
| &nbsp;&nbsp;&nbsp; GNMA%% | 6.00 | &nbsp;&nbsp; 7-15-2054 | 11765000 | &nbsp;&nbsp; 11936855 |
| &nbsp;&nbsp;&nbsp; GNMA%% | 6.50 | &nbsp;&nbsp; 7-15-2054 | 16755000 | &nbsp;&nbsp; 17199504 |
| **Total agency securities (Cost $65,505,824)** |  |  |  | &nbsp;&nbsp; **65921089** |
| **Asset-backed securities: 8.66%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; ACHM Trust Series 2023-HE2 Class A144A±± | 7.50 | &nbsp;&nbsp; 10-25-2038 | 312117 | &nbsp;&nbsp; 320091 |
| &nbsp;&nbsp;&nbsp; ACHM Trust Series 2025-HE1 Class A144A±± | 5.92 | &nbsp;&nbsp; 3-25-2055 | 578371 | &nbsp;&nbsp; 584334 |
| &nbsp;&nbsp;&nbsp; AFN ABSPROP001 LLC Series 2019-1A Class A2144A | 4.46 | &nbsp;&nbsp; 5-20-2049 | 685496 | &nbsp;&nbsp; 612949 |
| &nbsp;&nbsp;&nbsp; Aqua Finance Trust Series 2019-A Class A144A | 3.14 | &nbsp;&nbsp; 7-16-2040 | 83194 | &nbsp;&nbsp; 80769 |
| &nbsp;&nbsp;&nbsp; Aqua Finance Trust Series 2021-A Class A144A | 1.54 | &nbsp;&nbsp; 7-17-2046 | 217244 | &nbsp;&nbsp; 199907 |
| &nbsp;&nbsp;&nbsp; BHG Securitization Trust Series 2021-A Class A144A | 1.42 | &nbsp;&nbsp; 11-17-2033 | 94865 | &nbsp;&nbsp; 93222 |
| &nbsp;&nbsp;&nbsp; Bojangles Issuer LLC Series 2024-1A Class A2144A | 6.58 | &nbsp;&nbsp; 11-20-2054 | 700000 | &nbsp;&nbsp; 713582 |
| &nbsp;&nbsp;&nbsp; Centersquare Issuer LLC Series 2024-1A Class A2144A | 5.20 | &nbsp;&nbsp; 10-26-2054 | 1000000 | &nbsp;&nbsp; 981748 |
| &nbsp;&nbsp;&nbsp; Centersquare Issuer LLC Series 2025-1A Class A2144A | 5.50 | &nbsp;&nbsp; 3-26-2055 | 780000 | &nbsp;&nbsp; 754304 |
| &nbsp;&nbsp;&nbsp; Coinstar Funding LLC Series 2017-1A Class A2144A | 5.22 | &nbsp;&nbsp; 4-25-2047 | 1025800 | &nbsp;&nbsp; 948875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonbond Student Loan Trust Series 2018-CGS <br> Class C144A<br>| 4.35 | &nbsp;&nbsp; 2-25-2046 | 66652 | &nbsp;&nbsp; 58627 |
| &nbsp;&nbsp;&nbsp; Driven Brands Funding LLC Series 2019-2A Class A2144A | 3.98 | &nbsp;&nbsp; 10-20-2049 | 322726 | &nbsp;&nbsp; 317787 |
| &nbsp;&nbsp;&nbsp; FIGRE Trust Series 2023-HE1 Class A144A | 5.85 | &nbsp;&nbsp; 3-25-2053 | 405472 | &nbsp;&nbsp; 409196 |
| &nbsp;&nbsp;&nbsp; FIGRE Trust Series 2023-HE2 Class A144A±± | 6.51 | &nbsp;&nbsp; 5-25-2053 | 275432 | &nbsp;&nbsp; 281251 |
| &nbsp;&nbsp;&nbsp; Five Guys Holdings, Inc. Series 2023-1A Class A2144A | 7.55 | &nbsp;&nbsp; 1-26-2054 | 179100 | &nbsp;&nbsp; 185071 |
| &nbsp;&nbsp;&nbsp; FREED Mortgage Trust Series 2022-HE1 Class A144A±± | 7.00 | &nbsp;&nbsp; 10-25-2037 | 281345 | &nbsp;&nbsp; 286126 |
| &nbsp;&nbsp;&nbsp; Frontier Issuer LLC Series 2023-1 Class A2144A | 6.60 | &nbsp;&nbsp; 8-20-2053 | 900000 | &nbsp;&nbsp; 914223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FS Rialto Issuer LLC Series 2021-FL3 Class B (U.S. SOFR 1 <br> Month+1.91%)144A±<br>| 6.23 | &nbsp;&nbsp; 11-16-2036 | 1000000 | &nbsp;&nbsp; 993336 |
| &nbsp;&nbsp;&nbsp; Jimmy Johns Funding LLC Series 2017-1A Class A2II144A | 4.85 | &nbsp;&nbsp; 7-30-2047 | 230088 | &nbsp;&nbsp; 227928 |
| &nbsp;&nbsp;&nbsp; Jonah Energy ABS I LLC Series 2022-1 Class A1144A | 7.20 | &nbsp;&nbsp; 12-10-2037 | 385818 | &nbsp;&nbsp; 387992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Laurel Road Prime Student Loan Trust Series 2017-C <br> Class C144A<br>| 3.29 | &nbsp;&nbsp; 11-25-2042 | 295202 | &nbsp;&nbsp; 290577 |
| &nbsp;&nbsp;&nbsp; MNR ABS Issuer I LLC‡ | 8.12 | &nbsp;&nbsp; 12-15-2038 | 196081 | &nbsp;&nbsp; 198630 |
| &nbsp;&nbsp;&nbsp; NBC Funding LLC Series 2024-1A Class A2144A | 6.75 | &nbsp;&nbsp; 7-30-2054 | 900475 | &nbsp;&nbsp; 917199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Economy Assets - Phase 1 Sponsor LLC Series 2021-1 <br> Class B1144A##<br>| 2.41 | &nbsp;&nbsp; 10-20-2061 | 1500000 | &nbsp;&nbsp; 1375262 |
| &nbsp;&nbsp;&nbsp; NMEF Funding LLC Series 2025-A Class B144A | 5.18 | &nbsp;&nbsp; 7-15-2032 | 445000 | &nbsp;&nbsp; 447858 |
| &nbsp;&nbsp;&nbsp; Octane Receivables Trust Series 2023-1A Class A144A | 5.87 | &nbsp;&nbsp; 5-21-2029 | 25634 | &nbsp;&nbsp; 25689 |
| &nbsp;&nbsp;&nbsp; Octane Receivables Trust Series 2023-1A Class B144A | 5.96 | &nbsp;&nbsp; 7-20-2029 | 160000 | &nbsp;&nbsp; 161224 |
| &nbsp;&nbsp;&nbsp; Pagaya AI Debt Trust Series 2025-4 Class A2144A | 5.37 | &nbsp;&nbsp; 1-17-2033 | 635000 | &nbsp;&nbsp; 635908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SMB Private Education Loan Trust Series 2015-C <br> Class C144A<br>| 4.50 | &nbsp;&nbsp; 9-17-2046 | 970000 | &nbsp;&nbsp; 952129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starwood LLC Series 2025-SIF5A Class A (U.S. SOFR 3 <br> Month+1.55%)144A±<br>| 5.80 | &nbsp;&nbsp; 4-15-2037 | 875000 | &nbsp;&nbsp; 876915 |

---

See accompanying notes to portfolio of investments

Allspring Income Plus Fund \| 1

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Asset-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Store Master Funding I-VII XIV XIX XX XXIV Series 2023-1A <br> Class A1144A<br>| 6.19<br> %<br>| &nbsp;&nbsp; 6-20-2053 | $494792 | &nbsp;&nbsp; $498505 |
| &nbsp;&nbsp;&nbsp; Uniti Fiber ABS Issuer LLC Series 2025-1A Class A2144A | 5.88 | &nbsp;&nbsp; 4-20-2055 | 1000000 | &nbsp;&nbsp; 1022429 |
| **Total asset-backed securities (Cost $16,846,125)** |  |  |  | &nbsp;&nbsp; **16753643** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Common stocks: 0.16%** |  |  |
| **Consumer staples: 0.00%** |  |  |
| **Consumer staples distribution & retail: 0.00%** |  |  |
| &nbsp;&nbsp;&nbsp; Casino Guichard Perrachon SA† | 1285 | &nbsp;&nbsp; **630** |
| **Energy: 0.16%** |  |  |
| **Independent power and renewable electricity producers:** <br> **0.16%** |  |  |
| &nbsp;&nbsp;&nbsp; Enviva, Inc.‡† | 16752 | &nbsp;&nbsp; **316194** |
| **Financials: 0.00%** |  |  |
| **Financial services: 0.00%** |  |  |
| &nbsp;&nbsp;&nbsp; Unifin Financiera SAB de CV♦† | 78042 | &nbsp;&nbsp; **0** |
| **Total common stocks (Cost $531,900)** |  | &nbsp;&nbsp; **316824** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>| Principal |  |
| **Corporate bonds and notes: 23.76%** |  |  |  |  |
| **Basic materials: 0.69%** |  |  |  |  |
| **Chemicals: 0.25%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Celanese U.S. Holdings LLC | 6.63 | &nbsp;&nbsp; 7-15-2032 | $20000 | &nbsp;&nbsp; 20967 |
| &nbsp;&nbsp;&nbsp; LYB International Finance III LLC | 5.50 | &nbsp;&nbsp; 3-1-2034 | 325000 | &nbsp;&nbsp; 324389 |
| &nbsp;&nbsp;&nbsp; LYB International Finance III LLC | 6.15 | &nbsp;&nbsp; 5-15-2035 | 140000 | &nbsp;&nbsp; 145308 |
|  |  |  |  | &nbsp;&nbsp; **490664** |
| **Iron/steel: 0.43%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc.144A | 4.88 | &nbsp;&nbsp; 3-1-2031 | 40000 | &nbsp;&nbsp; 34216 |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc.144A | 7.00 | &nbsp;&nbsp; 3-15-2032 | 560000 | &nbsp;&nbsp; 527890 |
| &nbsp;&nbsp;&nbsp; Nucor Corp. | 5.10 | &nbsp;&nbsp; 6-1-2035 | 260000 | &nbsp;&nbsp; 260812 |
|  |  |  |  | &nbsp;&nbsp; **822918** |
| **Mining: 0.01%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp.144A | 4.63 | &nbsp;&nbsp; 3-1-2028 | 25000 | &nbsp;&nbsp; **24460** |
| **Communications: 3.26%** |  |  |  |  |
| **Advertising: 0.13%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.144A | 9.00 | &nbsp;&nbsp; 9-15-2028 | 185000 | &nbsp;&nbsp; 193847 |
| &nbsp;&nbsp;&nbsp; Lamar Media Corp. | 4.00 | &nbsp;&nbsp; 2-15-2030 | 40000 | &nbsp;&nbsp; 38212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Outfront Media Capital LLC/Outfront Media Capital <br> Corp.144A<br>| 7.38 | &nbsp;&nbsp; 2-15-2031 | 25000 | &nbsp;&nbsp; 26468 |
|  |  |  |  | &nbsp;&nbsp; **258527** |

---

See accompanying notes to portfolio of investments

2 \| Allspring Income Plus Fund

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Internet: 0.76%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Arches Buyer, Inc.144A | 6.13<br> %<br>| &nbsp;&nbsp; 12-1-2028 | $345000 | &nbsp;&nbsp; $317300 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | 4.13 | &nbsp;&nbsp; 5-12-2033 | 245000 | &nbsp;&nbsp; 300926 |
| &nbsp;&nbsp;&nbsp; Cablevision Lightpath LLC144A | 5.63 | &nbsp;&nbsp; 9-15-2028 | 390000 | &nbsp;&nbsp; 376762 |
| &nbsp;&nbsp;&nbsp; Match Group Holdings II LLC144A | 4.13 | &nbsp;&nbsp; 8-1-2030 | 90000 | &nbsp;&nbsp; 84167 |
| &nbsp;&nbsp;&nbsp; MercadoLibre, Inc. | 3.13 | &nbsp;&nbsp; 1-14-2031 | 445000 | &nbsp;&nbsp; 400170 |
|  |  |  |  | &nbsp;&nbsp; **1479325** |
| **Media: 1.79%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp.144A | 4.25 | &nbsp;&nbsp; 1-15-2034 | 655000 | &nbsp;&nbsp; 583073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 3.90 | &nbsp;&nbsp; 6-1-2052 | 170000 | &nbsp;&nbsp; 116673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 4.40 | &nbsp;&nbsp; 12-1-2061 | 260000 | &nbsp;&nbsp; 182308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>| 6.10 | &nbsp;&nbsp; 6-1-2029 | 285000 | &nbsp;&nbsp; 298379 |
| &nbsp;&nbsp;&nbsp; Comcast Corp. | 6.05 | &nbsp;&nbsp; 5-15-2055 | 90000 | &nbsp;&nbsp; 91899 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC144A | 5.50 | &nbsp;&nbsp; 4-15-2027 | 170000 | &nbsp;&nbsp; 162307 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC144A | 11.25 | &nbsp;&nbsp; 5-15-2028 | 325000 | &nbsp;&nbsp; 323777 |
| &nbsp;&nbsp;&nbsp; DISH Network Corp.144A | 11.75 | &nbsp;&nbsp; 11-15-2027 | 205000 | &nbsp;&nbsp; 211319 |
| &nbsp;&nbsp;&nbsp; News Corp.144A | 3.88 | &nbsp;&nbsp; 5-15-2029 | 375000 | &nbsp;&nbsp; 358778 |
| &nbsp;&nbsp;&nbsp; News Corp.144A | 5.13 | &nbsp;&nbsp; 2-15-2032 | 310000 | &nbsp;&nbsp; 303365 |
| &nbsp;&nbsp;&nbsp; Nexstar Media, Inc.144A | 5.63 | &nbsp;&nbsp; 7-15-2027 | 120000 | &nbsp;&nbsp; 119719 |
| &nbsp;&nbsp;&nbsp; Paramount Global (3 Month LIBOR+3.90%)± | 6.25 | &nbsp;&nbsp; 2-28-2057 | 510000 | &nbsp;&nbsp; 480035 |
| &nbsp;&nbsp;&nbsp; Sirius XM Radio LLC144A | 4.00 | &nbsp;&nbsp; 7-15-2028 | 30000 | &nbsp;&nbsp; 28813 |
| &nbsp;&nbsp;&nbsp; Time Warner Cable LLC | 5.50 | &nbsp;&nbsp; 9-1-2041 | 215000 | &nbsp;&nbsp; 195493 |
|  |  |  |  | &nbsp;&nbsp; **3455938** |
| **Telecommunications: 0.58%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | 3.55 | &nbsp;&nbsp; 9-15-2055 | 265000 | &nbsp;&nbsp; 178808 |
| &nbsp;&nbsp;&nbsp; EchoStar Corp. (PIK at 6.75%)¥ | 6.75 | &nbsp;&nbsp; 11-30-2030 | 518562 | &nbsp;&nbsp; 473255 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.144A | 3.75 | &nbsp;&nbsp; 7-15-2029 | 60000 | &nbsp;&nbsp; 50475 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.144A | 4.50 | &nbsp;&nbsp; 4-1-2030 | 120000 | &nbsp;&nbsp; 108600 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.144A | 10.75 | &nbsp;&nbsp; 12-15-2030 | 270000 | &nbsp;&nbsp; 306113 |
|  |  |  |  | &nbsp;&nbsp; **1117251** |
| **Consumer, cyclical: 2.73%** |  |  |  |  |
| **Airlines: 0.32%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; American Airlines Pass-Through Trust Series 2015-1 Class A | 3.38 | &nbsp;&nbsp; 5-1-2027 | 349664 | &nbsp;&nbsp; 340746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mileage Plus Holdings LLC/Mileage Plus Intellectual Property <br> Assets Ltd.144A<br>| 6.50 | &nbsp;&nbsp; 6-20-2027 | 158000 | &nbsp;&nbsp; 158207 |
| &nbsp;&nbsp;&nbsp; United Airlines Pass-Through Trust Series 2020-1 Class B | 4.88 | &nbsp;&nbsp; 1-15-2026 | 68137 | &nbsp;&nbsp; 68042 |
| &nbsp;&nbsp;&nbsp; United Airlines Pass-Through Trust Series 2020-1 Class A | 5.88 | &nbsp;&nbsp; 10-15-2027 | 55649 | &nbsp;&nbsp; 56785 |
|  |  |  |  | &nbsp;&nbsp; **623780** |
| **Apparel: 0.38%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Beach Acquisition Bidco LLC (PIK at 10.75%)144A¥%% | 10.00 | &nbsp;&nbsp; 7-15-2033 | 555000 | &nbsp;&nbsp; 575266 |
| &nbsp;&nbsp;&nbsp; Crocs, Inc.144A | 4.13 | &nbsp;&nbsp; 8-15-2031 | 190000 | &nbsp;&nbsp; 171097 |
|  |  |  |  | &nbsp;&nbsp; **746363** |

---

See accompanying notes to portfolio of investments

Allspring Income Plus Fund \| 3

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Auto manufacturers: 0.13%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Ford Motor Co. | 3.25<br> %<br>| &nbsp;&nbsp; 2-12-2032 | $110000 | &nbsp;&nbsp; $92741 |
| &nbsp;&nbsp;&nbsp; Ford Motor Co. | 6.10 | &nbsp;&nbsp; 8-19-2032 | 165000 | &nbsp;&nbsp; 164768 |
|  |  |  |  | &nbsp;&nbsp; **257509** |
| **Entertainment: 0.14%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp./Six Flags Theme Parks, <br> Inc./Canada's Wonderland Co.144A<br>| 6.63 | &nbsp;&nbsp; 5-1-2032 | 25000 | &nbsp;&nbsp; 25786 |
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc. | 4.28 | &nbsp;&nbsp; 3-15-2032 | 268000 | &nbsp;&nbsp; 199325 |
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc.%% | 5.14 | &nbsp;&nbsp; 3-15-2052 | 74000 | &nbsp;&nbsp; 45695 |
|  |  |  |  | &nbsp;&nbsp; **270806** |
| **Home builders: 0.01%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; LGI Homes, Inc.144A | 8.75 | &nbsp;&nbsp; 12-15-2028 | 20000 | &nbsp;&nbsp; **20791** |
| **Home furnishings: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Whirlpool Corp. | 6.13 | &nbsp;&nbsp; 6-15-2030 | 50000 | &nbsp;&nbsp; **50439** |
| **Housewares: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Newell Brands, Inc. | 6.38 | &nbsp;&nbsp; 5-15-2030 | 40000 | &nbsp;&nbsp; **38913** |
| **Leisure time: 0.26%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Sabre Global, Inc.144A | 10.75 | &nbsp;&nbsp; 11-15-2029 | 484000 | &nbsp;&nbsp; **497332** |
| **Lodging: 0.49%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | 6.00 | &nbsp;&nbsp; 6-14-2030 | 380000 | &nbsp;&nbsp; 392036 |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | 6.20 | &nbsp;&nbsp; 8-15-2034 | 545000 | &nbsp;&nbsp; 556702 |
|  |  |  |  | &nbsp;&nbsp; **948738** |
| **Retail: 0.67%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; FirstCash, Inc.144A | 6.88 | &nbsp;&nbsp; 3-1-2032 | 365000 | &nbsp;&nbsp; 377699 |
| &nbsp;&nbsp;&nbsp; Kohl's Corp. | 5.13 | &nbsp;&nbsp; 5-1-2031 | 205000 | &nbsp;&nbsp; 147163 |
| &nbsp;&nbsp;&nbsp; Macy's Retail Holdings LLC144A | 6.13 | &nbsp;&nbsp; 3-15-2032 | 205000 | &nbsp;&nbsp; 195442 |
| &nbsp;&nbsp;&nbsp; Michaels Cos., Inc.144A | 7.88 | &nbsp;&nbsp; 5-1-2029 | 215000 | &nbsp;&nbsp; 140825 |
| &nbsp;&nbsp;&nbsp; PetSmart, Inc./PetSmart Finance Corp.144A | 4.75 | &nbsp;&nbsp; 2-15-2028 | 155000 | &nbsp;&nbsp; 151148 |
| &nbsp;&nbsp;&nbsp; PetSmart, Inc./PetSmart Finance Corp.144A | 7.75 | &nbsp;&nbsp; 2-15-2029 | 155000 | &nbsp;&nbsp; 150620 |
| &nbsp;&nbsp;&nbsp; Saks Global Enterprises LLC144A | 11.00 | &nbsp;&nbsp; 12-15-2029 | 280000 | &nbsp;&nbsp; 105000 |
| &nbsp;&nbsp;&nbsp; Sally Holdings LLC/Sally Capital, Inc. | 6.75 | &nbsp;&nbsp; 3-1-2032 | 25000 | &nbsp;&nbsp; 25665 |
|  |  |  |  | &nbsp;&nbsp; **1293562** |
| **Toys/games/hobbies: 0.28%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Hasbro, Inc. | 6.05 | &nbsp;&nbsp; 5-14-2034 | 280000 | &nbsp;&nbsp; 288763 |
| &nbsp;&nbsp;&nbsp; Mattel, Inc.144A | 5.88 | &nbsp;&nbsp; 12-15-2027 | 245000 | &nbsp;&nbsp; 245594 |
|  |  |  |  | &nbsp;&nbsp; **534357** |
| **Consumer, non-cyclical: 3.15%** |  |  |  |  |
| **Agriculture: 0.34%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; BAT Capital Corp. | 5.63 | &nbsp;&nbsp; 8-15-2035 | 390000 | &nbsp;&nbsp; 396853 |
| &nbsp;&nbsp;&nbsp; BAT Capital Corp. | 6.25 | &nbsp;&nbsp; 8-15-2055 | 255000 | &nbsp;&nbsp; 258269 |
|  |  |  |  | &nbsp;&nbsp; **655122** |

---

See accompanying notes to portfolio of investments

4 \| Allspring Income Plus Fund

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Biotechnology: 0.09%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Biogen, Inc. | 6.45<br> %<br>| &nbsp;&nbsp; 5-15-2055 | $180000 | &nbsp;&nbsp; **$185367** |
| **Commercial services: 1.58%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Ashtead Capital, Inc.144A | 5.55 | &nbsp;&nbsp; 5-30-2033 | 355000 | &nbsp;&nbsp; 358524 |
| &nbsp;&nbsp;&nbsp; Block, Inc. | 3.50 | &nbsp;&nbsp; 6-1-2031 | 40000 | &nbsp;&nbsp; 36691 |
| &nbsp;&nbsp;&nbsp; CoreCivic, Inc. | 8.25 | &nbsp;&nbsp; 4-15-2029 | 175000 | &nbsp;&nbsp; 185545 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. | 8.63 | &nbsp;&nbsp; 4-15-2029 | 300000 | &nbsp;&nbsp; 317619 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. | 10.25 | &nbsp;&nbsp; 4-15-2031 | 125000 | &nbsp;&nbsp; 137095 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. | 4.88 | &nbsp;&nbsp; 3-17-2031 | 595000 | &nbsp;&nbsp; 735855 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. | 5.95 | &nbsp;&nbsp; 8-15-2052 | 70000 | &nbsp;&nbsp; 67292 |
| &nbsp;&nbsp;&nbsp; Hertz Corp.144A | 12.63 | &nbsp;&nbsp; 7-15-2029 | 340000 | &nbsp;&nbsp; 355558 |
| &nbsp;&nbsp;&nbsp; Service Corp. International | 5.75 | &nbsp;&nbsp; 10-15-2032 | 40000 | &nbsp;&nbsp; 40408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shift4 Payments LLC/Shift4 Payments Finance Sub, <br> Inc.144A<br>| 5.50 | &nbsp;&nbsp; 5-15-2033 | 350000 | &nbsp;&nbsp; 426469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toll Road Investors Partnership II LP Series 1999-B (NPFGC <br> Insured)144A¤<br>| 0.00 | &nbsp;&nbsp; 2-15-2027 | 200000 | &nbsp;&nbsp; 180720 |
| &nbsp;&nbsp;&nbsp; United Rentals North America, Inc. | 3.88 | &nbsp;&nbsp; 2-15-2031 | 15000 | &nbsp;&nbsp; 14105 |
| &nbsp;&nbsp;&nbsp; Upbound Group, Inc.144A | 6.38 | &nbsp;&nbsp; 2-15-2029 | 200000 | &nbsp;&nbsp; 197848 |
|  |  |  |  | &nbsp;&nbsp; **3053729** |
| **Food: 0.01%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Foods, Inc.144A | 5.75 | &nbsp;&nbsp; 4-15-2033 | 20000 | &nbsp;&nbsp; **19979** |
| **Healthcare-services: 0.78%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems, Inc.144A | 10.88 | &nbsp;&nbsp; 1-15-2032 | 220000 | &nbsp;&nbsp; 233171 |
| &nbsp;&nbsp;&nbsp; DaVita, Inc.144A | 6.88 | &nbsp;&nbsp; 9-1-2032 | 280000 | &nbsp;&nbsp; 290130 |
| &nbsp;&nbsp;&nbsp; Highmark, Inc.144A | 2.55 | &nbsp;&nbsp; 5-10-2031 | 215000 | &nbsp;&nbsp; 184359 |
| &nbsp;&nbsp;&nbsp; Pediatrix Medical Group, Inc.144A | 5.38 | &nbsp;&nbsp; 2-15-2030 | 125000 | &nbsp;&nbsp; 123574 |
| &nbsp;&nbsp;&nbsp; Radiology Partners, Inc.144A | 8.50 | &nbsp;&nbsp; 7-15-2032 | 200000 | &nbsp;&nbsp; 200466 |
| &nbsp;&nbsp;&nbsp; Star Parent, Inc.144A | 9.00 | &nbsp;&nbsp; 10-1-2030 | 400000 | &nbsp;&nbsp; 420728 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. | 6.75 | &nbsp;&nbsp; 5-15-2031 | 25000 | &nbsp;&nbsp; 25865 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 5.95 | &nbsp;&nbsp; 6-15-2055 | 25000 | &nbsp;&nbsp; 25389 |
|  |  |  |  | &nbsp;&nbsp; **1503682** |
| **Household products/wares: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co. | 4.13 | &nbsp;&nbsp; 10-15-2030 | 60000 | &nbsp;&nbsp; **56639** |
| **Pharmaceuticals: 0.32%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. | 5.60 | &nbsp;&nbsp; 3-15-2055 | 265000 | &nbsp;&nbsp; 265094 |
| &nbsp;&nbsp;&nbsp; Viatris, Inc. | 3.85 | &nbsp;&nbsp; 6-22-2040 | 485000 | &nbsp;&nbsp; 358217 |
|  |  |  |  | &nbsp;&nbsp; **623311** |
| **Energy: 2.83%** |  |  |  |  |
| **Energy-alternate sources: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Enviva Partners LP/Enviva Partners Finance Corp.144A♦† | 6.50 | &nbsp;&nbsp; 1-15-2026 | 400000 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; TerraForm Power Operating LLC144A | 4.75 | &nbsp;&nbsp; 1-15-2030 | 239000 | &nbsp;&nbsp; 228816 |
|  |  |  |  | &nbsp;&nbsp; **228816** |

---

See accompanying notes to portfolio of investments

Allspring Income Plus Fund \| 5

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Oil & gas: 1.15%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; APA Corp.144A | 5.25<br> %<br>| &nbsp;&nbsp; 2-1-2042 | $93000 | &nbsp;&nbsp; $74392 |
| &nbsp;&nbsp;&nbsp; BP Capital Markets America, Inc. | 5.23 | &nbsp;&nbsp; 11-17-2034 | 480000 | &nbsp;&nbsp; 488377 |
| &nbsp;&nbsp;&nbsp; California Resources Corp.144A | 8.25 | &nbsp;&nbsp; 6-15-2029 | 150000 | &nbsp;&nbsp; 153971 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips Co. | 5.50 | &nbsp;&nbsp; 1-15-2055 | 380000 | &nbsp;&nbsp; 360551 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips Co. | 5.65 | &nbsp;&nbsp; 1-15-2065 | 75000 | &nbsp;&nbsp; 71346 |
| &nbsp;&nbsp;&nbsp; Encino Acquisition Partners Holdings LLC144A | 8.50 | &nbsp;&nbsp; 5-1-2028 | 105000 | &nbsp;&nbsp; 107888 |
| &nbsp;&nbsp;&nbsp; Encino Acquisition Partners Holdings LLC144A | 8.75 | &nbsp;&nbsp; 5-1-2031 | 105000 | &nbsp;&nbsp; 115957 |
| &nbsp;&nbsp;&nbsp; Expand Energy Corp. | 5.38 | &nbsp;&nbsp; 3-15-2030 | 130000 | &nbsp;&nbsp; 130364 |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP/Hilcorp Finance Co.144A | 6.00 | &nbsp;&nbsp; 2-1-2031 | 165000 | &nbsp;&nbsp; 159123 |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP/Hilcorp Finance Co.144A | 8.38 | &nbsp;&nbsp; 11-1-2033 | 15000 | &nbsp;&nbsp; 15564 |
| &nbsp;&nbsp;&nbsp; Nabors Industries, Inc.144A | 8.88 | &nbsp;&nbsp; 8-15-2031 | 155000 | &nbsp;&nbsp; 115135 |
| &nbsp;&nbsp;&nbsp; Nabors Industries, Inc.144A | 9.13 | &nbsp;&nbsp; 1-31-2030 | 220000 | &nbsp;&nbsp; 210651 |
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. | 6.13 | &nbsp;&nbsp; 1-1-2031 | 215000 | &nbsp;&nbsp; 222573 |
|  |  |  |  | &nbsp;&nbsp; **2225892** |
| **Oil & gas services: 0.29%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bristow Group, Inc.144A | 6.88 | &nbsp;&nbsp; 3-1-2028 | 190000 | &nbsp;&nbsp; 190951 |
| &nbsp;&nbsp;&nbsp; Oceaneering International, Inc. | 6.00 | &nbsp;&nbsp; 2-1-2028 | 155000 | &nbsp;&nbsp; 156278 |
| &nbsp;&nbsp;&nbsp; Schlumberger Holdings Corp.144A | 4.85 | &nbsp;&nbsp; 5-15-2033 | 210000 | &nbsp;&nbsp; 206279 |
|  |  |  |  | &nbsp;&nbsp; **553508** |
| **Pipelines: 1.27%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Antero Midstream Partners LP/Antero Midstream Finance <br> Corp.144A<br>| 6.63 | &nbsp;&nbsp; 2-1-2032 | 135000 | &nbsp;&nbsp; 139435 |
| &nbsp;&nbsp;&nbsp; Buckeye Partners LP | 5.85 | &nbsp;&nbsp; 11-15-2043 | 60000 | &nbsp;&nbsp; 52881 |
| &nbsp;&nbsp;&nbsp; Cheniere Energy Partners LP144A%% | 5.55 | &nbsp;&nbsp; 10-30-2035 | 150000 | &nbsp;&nbsp; 151179 |
| &nbsp;&nbsp;&nbsp; CQP Holdco LP/BIP-V Chinook Holdco LLC144A | 7.50 | &nbsp;&nbsp; 12-15-2033 | 188000 | &nbsp;&nbsp; 203997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP (5 Year Treasury Constant <br> Maturity+4.02%)±<br>| 8.00 | &nbsp;&nbsp; 5-15-2054 | 70000 | &nbsp;&nbsp; 74472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP Series H (5 Year Treasury Constant <br> Maturity+5.69%)ʊ±<br>| 6.50 | &nbsp;&nbsp; 11-15-2026 | 115000 | &nbsp;&nbsp; 115514 |
| &nbsp;&nbsp;&nbsp; Kinetik Holdings LP144A | 5.88 | &nbsp;&nbsp; 6-15-2030 | 40000 | &nbsp;&nbsp; 40339 |
| &nbsp;&nbsp;&nbsp; Prairie Acquiror LP144A | 9.00 | &nbsp;&nbsp; 8-1-2029 | 410000 | &nbsp;&nbsp; 427063 |
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC144A | 6.88 | &nbsp;&nbsp; 4-15-2040 | 90000 | &nbsp;&nbsp; 90157 |
| &nbsp;&nbsp;&nbsp; South Bow USA Infrastructure Holdings LLC144A | 5.03 | &nbsp;&nbsp; 10-1-2029 | 305000 | &nbsp;&nbsp; 305984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance <br> Corp.144A<br>| 6.00 | &nbsp;&nbsp; 12-31-2030 | 285000 | &nbsp;&nbsp; 279647 |
| &nbsp;&nbsp;&nbsp; Venture Global LNG, Inc.144A | 8.38 | &nbsp;&nbsp; 6-1-2031 | 150000 | &nbsp;&nbsp; 155795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global LNG, Inc. (5 Year Treasury Constant <br> Maturity+5.44%)144Aʊ±<br>| 9.00 | &nbsp;&nbsp; 9-30-2029 | 440000 | &nbsp;&nbsp; 427767 |
|  |  |  |  | &nbsp;&nbsp; **2464230** |
| **Financial: 6.08%** |  |  |  |  |
| **Banks: 2.56%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. (U.S. SOFR+1.74%)± | 5.52 | &nbsp;&nbsp; 10-25-2035 | 195000 | &nbsp;&nbsp; 195002 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. (U.S. SOFR+1.91%)± | 5.43 | &nbsp;&nbsp; 8-15-2035 | 455000 | &nbsp;&nbsp; 454866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. Series DD (U.S. SOFR 3 <br> Month+4.81%)ʊ±<br>| 6.30 | &nbsp;&nbsp; 3-10-2026 | 195000 | &nbsp;&nbsp; 196303 |

---

See accompanying notes to portfolio of investments

6 \| Allspring Income Plus Fund

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Banks**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. Series OO (5 Year Treasury Constant <br> Maturity+2.68%)ʊ±<br>| 6.63<br> %<br>| &nbsp;&nbsp; 5-1-2030 | $170000 | &nbsp;&nbsp; $176061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. Series T (5 Year Treasury <br> Constant Maturity+2.97%)ʊ±<br>| 3.80 | &nbsp;&nbsp; 5-10-2026 | 520000 | &nbsp;&nbsp; 511848 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. (U.S. SOFR+1.55%)± | 5.53 | &nbsp;&nbsp; 11-29-2045 | 275000 | &nbsp;&nbsp; 275612 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. (U.S. SOFR+1.75%)± | 4.57 | &nbsp;&nbsp; 6-14-2030 | 305000 | &nbsp;&nbsp; 306344 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.29%)± | 2.94 | &nbsp;&nbsp; 1-21-2033 | 750000 | &nbsp;&nbsp; 669371 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley (U.S. SOFR+1.71%)± | 5.52 | &nbsp;&nbsp; 11-19-2055 | 430000 | &nbsp;&nbsp; 420209 |
| &nbsp;&nbsp;&nbsp; Santander Holdings USA, Inc. (U.S. SOFR+1.88%)± | 5.74 | &nbsp;&nbsp; 3-20-2031 | 190000 | &nbsp;&nbsp; 195044 |
| &nbsp;&nbsp;&nbsp; Santander Holdings USA, Inc. (U.S. SOFR+3.28%)± | 7.66 | &nbsp;&nbsp; 11-9-2031 | 70000 | &nbsp;&nbsp; 78078 |
| &nbsp;&nbsp;&nbsp; U.S. Bancorp (U.S. SOFR+1.86%)± | 5.68 | &nbsp;&nbsp; 1-23-2035 | 435000 | &nbsp;&nbsp; 451606 |
| &nbsp;&nbsp;&nbsp; U.S. Bancorp (U.S. SOFR+2.26%)± | 5.84 | &nbsp;&nbsp; 6-12-2034 | 325000 | &nbsp;&nbsp; 341384 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. (U.S. SOFR+2.06%)± | 6.49 | &nbsp;&nbsp; 10-23-2034 | 630000 | &nbsp;&nbsp; 688610 |
|  |  |  |  | &nbsp;&nbsp; **4960338** |
| **Diversified financial services: 0.78%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aircastle Ltd.144A | 5.95 | &nbsp;&nbsp; 2-15-2029 | 185000 | &nbsp;&nbsp; 191118 |
| &nbsp;&nbsp;&nbsp; Aircastle Ltd./Aircastle Ireland DAC144A | 5.25 | &nbsp;&nbsp; 3-15-2030 | 360000 | &nbsp;&nbsp; 362966 |
| &nbsp;&nbsp;&nbsp; Citadel LP144A | 6.38 | &nbsp;&nbsp; 1-23-2032 | 230000 | &nbsp;&nbsp; 240172 |
| &nbsp;&nbsp;&nbsp; Computershare U.S., Inc. | 1.13 | &nbsp;&nbsp; 10-7-2031 | 440000 | &nbsp;&nbsp; 453351 |
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance, Inc.144A | 7.13 | &nbsp;&nbsp; 4-30-2031 | 60000 | &nbsp;&nbsp; 63129 |
| &nbsp;&nbsp;&nbsp; PRA Group, Inc.144A | 5.00 | &nbsp;&nbsp; 10-1-2029 | 185000 | &nbsp;&nbsp; 170494 |
| &nbsp;&nbsp;&nbsp; United Wholesale Mortgage LLC144A | 5.50 | &nbsp;&nbsp; 4-15-2029 | 35000 | &nbsp;&nbsp; 33973 |
|  |  |  |  | &nbsp;&nbsp; **1515203** |
| **Insurance: 1.42%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; BroadStreet Partners, Inc.144A | 5.88 | &nbsp;&nbsp; 4-15-2029 | 325000 | &nbsp;&nbsp; 321184 |
| &nbsp;&nbsp;&nbsp; Brown & Brown, Inc. | 4.90 | &nbsp;&nbsp; 6-23-2030 | 150000 | &nbsp;&nbsp; 151396 |
| &nbsp;&nbsp;&nbsp; Guardian Life Insurance Co. of America144A | 4.85 | &nbsp;&nbsp; 1-24-2077 | 145000 | &nbsp;&nbsp; 120375 |
| &nbsp;&nbsp;&nbsp; Jackson Financial, Inc. | 4.00 | &nbsp;&nbsp; 11-23-2051 | 320000 | &nbsp;&nbsp; 217253 |
| &nbsp;&nbsp;&nbsp; MetLife, Inc. | 6.40 | &nbsp;&nbsp; 12-15-2036 | 410000 | &nbsp;&nbsp; 429339 |
| &nbsp;&nbsp;&nbsp; New York Life Insurance Co.144A | 5.88 | &nbsp;&nbsp; 5-15-2033 | 255000 | &nbsp;&nbsp; 267078 |
| &nbsp;&nbsp;&nbsp; Northwestern Mutual Life Insurance Co.144A | 6.17 | &nbsp;&nbsp; 5-29-2055 | 280000 | &nbsp;&nbsp; 292392 |
| &nbsp;&nbsp;&nbsp; Omnis Funding Trust144A | 6.72 | &nbsp;&nbsp; 5-15-2055 | 455000 | &nbsp;&nbsp; 471505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PartnerRe Finance B LLC (5 Year Treasury Constant <br> Maturity+3.82%)±<br>| 4.50 | &nbsp;&nbsp; 10-1-2050 | 40000 | &nbsp;&nbsp; 37637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prudential Financial, Inc. (5 Year Treasury Constant <br> Maturity+3.04%)±<br>| 3.70 | &nbsp;&nbsp; 10-1-2050 | 80000 | &nbsp;&nbsp; 72970 |
| &nbsp;&nbsp;&nbsp; RGA Global Funding144A | 5.05 | &nbsp;&nbsp; 12-6-2031 | 355000 | &nbsp;&nbsp; 355772 |
|  |  |  |  | &nbsp;&nbsp; **2736901** |
| **Investment Companies: 0.44%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Ares Capital Corp. BDC | 2.88 | &nbsp;&nbsp; 6-15-2028 | 115000 | &nbsp;&nbsp; 108368 |
| &nbsp;&nbsp;&nbsp; Ares Capital Corp. BDC | 5.50 | &nbsp;&nbsp; 9-1-2030 | 230000 | &nbsp;&nbsp; 229286 |
| &nbsp;&nbsp;&nbsp; Blue Owl Capital Corp. BDC | 2.63 | &nbsp;&nbsp; 1-15-2027 | 320000 | &nbsp;&nbsp; 309055 |
| &nbsp;&nbsp;&nbsp; Golub Capital Private Credit Fund BDC | 5.88 | &nbsp;&nbsp; 5-1-2030 | 205000 | &nbsp;&nbsp; 204752 |
|  |  |  |  | &nbsp;&nbsp; **851461** |

---

See accompanying notes to portfolio of investments

Allspring Income Plus Fund \| 7

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **REITs: 0.88%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Brandywine Operating Partnership LP | 8.30<br> %<br>| &nbsp;&nbsp; 3-15-2028 | $415000 | &nbsp;&nbsp; $444952 |
| &nbsp;&nbsp;&nbsp; Brandywine Operating Partnership LP | 8.88 | &nbsp;&nbsp; 4-12-2029 | 35000 | &nbsp;&nbsp; 37893 |
| &nbsp;&nbsp;&nbsp; EPR Properties | 3.75 | &nbsp;&nbsp; 8-15-2029 | 175000 | &nbsp;&nbsp; 166629 |
| &nbsp;&nbsp;&nbsp; Essential Properties LP | 2.95 | &nbsp;&nbsp; 7-15-2031 | 240000 | &nbsp;&nbsp; 213434 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc.144A | 4.50 | &nbsp;&nbsp; 2-15-2031 | 180000 | &nbsp;&nbsp; 171502 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc.144A | 5.25 | &nbsp;&nbsp; 3-15-2028 | 20000 | &nbsp;&nbsp; 19913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings LLLP/Ladder Capital <br> Finance Corp.144A<br>| 7.00 | &nbsp;&nbsp; 7-15-2031 | 280000 | &nbsp;&nbsp; 292793 |
| &nbsp;&nbsp;&nbsp; Piedmont Operating Partnership LP | 9.25 | &nbsp;&nbsp; 7-20-2028 | 130000 | &nbsp;&nbsp; 144799 |
| &nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc.144A | 6.50 | &nbsp;&nbsp; 7-1-2030 | 25000 | &nbsp;&nbsp; 25822 |
| &nbsp;&nbsp;&nbsp; WEA Finance LLC/Westfield U.K. & Europe Finance PLC144A | 4.75 | &nbsp;&nbsp; 9-17-2044 | 230000 | &nbsp;&nbsp; 187098 |
|  |  |  |  | &nbsp;&nbsp; **1704835** |
| **Industrial: 1.04%** |  |  |  |  |
| **Aerospace/defense: 0.32%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Boeing Co. | 6.86 | &nbsp;&nbsp; 5-1-2054 | 535000 | &nbsp;&nbsp; 585673 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc.144A | 6.63 | &nbsp;&nbsp; 3-1-2032 | 35000 | &nbsp;&nbsp; 36239 |
|  |  |  |  | &nbsp;&nbsp; **621912** |
| **Building materials: 0.20%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc.144A | 6.38 | &nbsp;&nbsp; 3-1-2034 | 35000 | &nbsp;&nbsp; 35667 |
| &nbsp;&nbsp;&nbsp; Camelot Return Merger Sub, Inc.144A | 8.75 | &nbsp;&nbsp; 8-1-2028 | 320000 | &nbsp;&nbsp; 295107 |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP/Emerald Co-Issuer, Inc.144A | 6.63 | &nbsp;&nbsp; 12-15-2030 | 30000 | &nbsp;&nbsp; 30665 |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc.144A | 6.38 | &nbsp;&nbsp; 3-1-2032 | 5000 | &nbsp;&nbsp; 5142 |
| &nbsp;&nbsp;&nbsp; Standard Industries, Inc.144A | 5.00 | &nbsp;&nbsp; 2-15-2027 | 20000 | &nbsp;&nbsp; 19955 |
|  |  |  |  | &nbsp;&nbsp; **386536** |
| **Electrical components & equipment: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; WESCO Distribution, Inc.144A | 6.63 | &nbsp;&nbsp; 3-15-2032 | 55000 | &nbsp;&nbsp; **57154** |
| **Engineering & construction: 0.16%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; MasTec, Inc.144A | 4.50 | &nbsp;&nbsp; 8-15-2028 | 320000 | &nbsp;&nbsp; **315689** |
| **Environmental control: 0.01%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Clean Harbors, Inc.144A | 6.38 | &nbsp;&nbsp; 2-1-2031 | 18000 | &nbsp;&nbsp; **18442** |
| **Machinery-diversified: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Chart Industries, Inc.144A | 7.50 | &nbsp;&nbsp; 1-1-2030 | 54000 | &nbsp;&nbsp; **56534** |
| **Packaging & containers: 0.28%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Ball Corp. | 2.88 | &nbsp;&nbsp; 8-15-2030 | 25000 | &nbsp;&nbsp; 22537 |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc.144A | 8.75 | &nbsp;&nbsp; 4-15-2030 | 500000 | &nbsp;&nbsp; 511412 |
|  |  |  |  | &nbsp;&nbsp; **533949** |
| **Transportation: 0.01%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Genesee & Wyoming, Inc.144A | 6.25 | &nbsp;&nbsp; 4-15-2032 | 30000 | &nbsp;&nbsp; **30611** |

---

See accompanying notes to portfolio of investments

8 \| Allspring Income Plus Fund

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Technology: 1.78%** |  |  |  |  |
| **Computers: 0.42%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Booz Allen Hamilton, Inc. | 5.95<br> %<br>| &nbsp;&nbsp; 4-15-2035 | $175000 | &nbsp;&nbsp; $177606 |
| &nbsp;&nbsp;&nbsp; Insight Enterprises, Inc.144A | 6.63 | &nbsp;&nbsp; 5-15-2032 | 25000 | &nbsp;&nbsp; 25753 |
| &nbsp;&nbsp;&nbsp; Kyndryl Holdings, Inc. | 4.10 | &nbsp;&nbsp; 10-15-2041 | 280000 | &nbsp;&nbsp; 222995 |
| &nbsp;&nbsp;&nbsp; NetApp, Inc. | 5.70 | &nbsp;&nbsp; 3-17-2035 | 350000 | &nbsp;&nbsp; 359437 |
| &nbsp;&nbsp;&nbsp; Seagate HDD Cayman | 9.63 | &nbsp;&nbsp; 12-1-2032 | 30000 | &nbsp;&nbsp; 33818 |
|  |  |  |  | &nbsp;&nbsp; **819609** |
| **Semiconductors: 0.76%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Entegris, Inc.144A | 4.75 | &nbsp;&nbsp; 4-15-2029 | 115000 | &nbsp;&nbsp; 113725 |
| &nbsp;&nbsp;&nbsp; Entegris, Inc.144A | 5.95 | &nbsp;&nbsp; 6-15-2030 | 35000 | &nbsp;&nbsp; 35557 |
| &nbsp;&nbsp;&nbsp; Foundry JV Holdco LLC144A | 5.88 | &nbsp;&nbsp; 1-25-2034 | 260000 | &nbsp;&nbsp; 264193 |
| &nbsp;&nbsp;&nbsp; Foundry JV Holdco LLC144A | 6.20 | &nbsp;&nbsp; 1-25-2037 | 350000 | &nbsp;&nbsp; 364310 |
| &nbsp;&nbsp;&nbsp; Intel Corp. | 2.80 | &nbsp;&nbsp; 8-12-2041 | 250000 | &nbsp;&nbsp; 168007 |
| &nbsp;&nbsp;&nbsp; Intel Corp. | 3.25 | &nbsp;&nbsp; 11-15-2049 | 85000 | &nbsp;&nbsp; 53835 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 6.05 | &nbsp;&nbsp; 11-1-2035 | 445000 | &nbsp;&nbsp; 465721 |
|  |  |  |  | &nbsp;&nbsp; **1465348** |
| **Software: 0.60%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group, Inc.144A | 6.50 | &nbsp;&nbsp; 2-15-2030 | 535000 | &nbsp;&nbsp; 526582 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc.144A | 8.25 | &nbsp;&nbsp; 6-30-2032 | 430000 | &nbsp;&nbsp; 457619 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc.144A | 9.00 | &nbsp;&nbsp; 9-30-2029 | 170000 | &nbsp;&nbsp; 176209 |
|  |  |  |  | &nbsp;&nbsp; **1160410** |
| **Utilities: 2.20%** |  |  |  |  |
| **Electric: 1.97%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AES Corp. (5 Year Treasury Constant Maturity+3.20%)± | 7.60 | &nbsp;&nbsp; 1-15-2055 | 30000 | &nbsp;&nbsp; 30888 |
| &nbsp;&nbsp;&nbsp; Baltimore Gas & Electric Co. | 5.45 | &nbsp;&nbsp; 6-1-2035 | 360000 | &nbsp;&nbsp; 368995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc. (5 Year Treasury Constant <br> Maturity+2.21%)±<br>| 6.63 | &nbsp;&nbsp; 5-15-2055 | 115000 | &nbsp;&nbsp; 116710 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. | 3.10 | &nbsp;&nbsp; 6-15-2028 | 200000 | &nbsp;&nbsp; 237220 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. | 3.85 | &nbsp;&nbsp; 6-15-2034 | 235000 | &nbsp;&nbsp; 274672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUSHI Finance, Inc. (5 Year Treasury Constant <br> Maturity+3.14%)±<br>| 7.63 | &nbsp;&nbsp; 12-15-2054 | 210000 | &nbsp;&nbsp; 217394 |
| &nbsp;&nbsp;&nbsp; Evergy, Inc. (5 Year Treasury Constant Maturity+2.56%)± | 6.65 | &nbsp;&nbsp; 6-1-2055 | 110000 | &nbsp;&nbsp; 111676 |
| &nbsp;&nbsp;&nbsp; Niagara Mohawk Power Corp.144A%% | 6.00 | &nbsp;&nbsp; 7-3-2055 | 300000 | &nbsp;&nbsp; 300000 |
| &nbsp;&nbsp;&nbsp; Oglethorpe Power Corp. | 4.25 | &nbsp;&nbsp; 4-1-2046 | 125000 | &nbsp;&nbsp; 96918 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. | 5.25 | &nbsp;&nbsp; 7-1-2030 | 40000 | &nbsp;&nbsp; 38106 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. (5 Year Treasury Constant Maturity+3.88%)± | 7.38 | &nbsp;&nbsp; 3-15-2055 | 550000 | &nbsp;&nbsp; 520861 |
| &nbsp;&nbsp;&nbsp; PSEG Power LLC144A | 5.75 | &nbsp;&nbsp; 5-15-2035 | 360000 | &nbsp;&nbsp; 370750 |
| &nbsp;&nbsp;&nbsp; Sempra (5 Year Treasury Constant Maturity+2.35%)± | 6.63 | &nbsp;&nbsp; 4-1-2055 | 315000 | &nbsp;&nbsp; 304709 |
| &nbsp;&nbsp;&nbsp; Southern California Edison Co. | 5.90 | &nbsp;&nbsp; 3-1-2055 | 360000 | &nbsp;&nbsp; 329171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southern Co. Series B (5 Year Treasury Constant <br> Maturity+3.73%)±<br>| 4.00 | &nbsp;&nbsp; 1-15-2051 | 95000 | &nbsp;&nbsp; 94451 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC144A | 3.70 | &nbsp;&nbsp; 1-30-2027 | 365000 | &nbsp;&nbsp; 360248 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC144A | 7.75 | &nbsp;&nbsp; 10-15-2031 | 40000 | &nbsp;&nbsp; 42514 |
|  |  |  |  | &nbsp;&nbsp; **3815283** |

---

See accompanying notes to portfolio of investments

Allspring Income Plus Fund \| 9

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Gas: 0.23%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC144A | 7.50<br> %<br>| &nbsp;&nbsp; 5-1-2033 | $410000 | &nbsp;&nbsp; $**439037** |
| **Total corporate bonds and notes (Cost $44,863,378)** |  |  |  | &nbsp;&nbsp; **45991200** |
| **Foreign corporate bonds and notes: 12.71%** |  |  |  |  |
| **Basic materials: 0.13%** |  |  |  |  |
| **Mining: 0.13%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Anglo American Capital PLC | 4.75 | &nbsp;&nbsp; 9-21-2032 | 205000 | &nbsp;&nbsp; **256146** |
| **Communications: 3.19%** |  |  |  |  |
| **Internet: 0.31%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United Group BV144A | 6.50 | &nbsp;&nbsp; 10-31-2031 | 505000 | &nbsp;&nbsp; **601037** |
| **Media: 0.14%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Tele Columbus AG (PIK at 10.00%)144A¥ | 10.00 | &nbsp;&nbsp; 1-1-2029 | 339095 | &nbsp;&nbsp; **274014** |
| **Telecommunications: 2.74%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; British Telecommunications PLC (UK Gilts 5 Year+3.82%)± | 8.38 | &nbsp;&nbsp; 12-20-2083 | 295000 | &nbsp;&nbsp; 433926 |
| &nbsp;&nbsp;&nbsp; Chorus Ltd. | 3.63 | &nbsp;&nbsp; 9-7-2029 | 295000 | &nbsp;&nbsp; 355942 |
| &nbsp;&nbsp;&nbsp; Eutelsat SA | 1.50 | &nbsp;&nbsp; 10-13-2028 | 300000 | &nbsp;&nbsp; 321331 |
| &nbsp;&nbsp;&nbsp; Fibercop SpA | 1.63 | &nbsp;&nbsp; 1-18-2029 | 395000 | &nbsp;&nbsp; 425394 |
| &nbsp;&nbsp;&nbsp; Koninklijke KPN NV | 3.88 | &nbsp;&nbsp; 7-3-2031 | 300000 | &nbsp;&nbsp; 366755 |
| &nbsp;&nbsp;&nbsp; Lorca Telecom Bondco SA | 4.00 | &nbsp;&nbsp; 9-18-2027 | 400000 | &nbsp;&nbsp; 470793 |
| &nbsp;&nbsp;&nbsp; SES SA (EURIBOR ICE Swap Rate 11:00am+3.23%)± | 5.50 | &nbsp;&nbsp; 9-12-2054 | 400000 | &nbsp;&nbsp; 456128 |
| &nbsp;&nbsp;&nbsp; TDC Net AS | 5.62 | &nbsp;&nbsp; 2-6-2030 | 400000 | &nbsp;&nbsp; 501194 |
| &nbsp;&nbsp;&nbsp; Telecom Italia SpA | 1.63 | &nbsp;&nbsp; 1-18-2029 | 200000 | &nbsp;&nbsp; 224070 |
| &nbsp;&nbsp;&nbsp; Telefonica Emisiones SA | 4.18 | &nbsp;&nbsp; 11-21-2033 | 400000 | &nbsp;&nbsp; 483505 |
| &nbsp;&nbsp;&nbsp; VMED O2 U.K. Financing I PLC | 5.63 | &nbsp;&nbsp; 4-15-2032 | 390000 | &nbsp;&nbsp; 470771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vodafone Group PLC (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 5 Year+3.48%)±<br>| 3.00 | &nbsp;&nbsp; 8-27-2080 | 260000 | &nbsp;&nbsp; 290525 |
| &nbsp;&nbsp;&nbsp; Zegona Finance PLC144A | 6.75 | &nbsp;&nbsp; 7-15-2029 | 390000 | &nbsp;&nbsp; 488113 |
|  |  |  |  | &nbsp;&nbsp; **5288447** |
| **Consumer, cyclical: 2.42%** |  |  |  |  |
| **Auto manufacturers: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; BMW International Investment BV | 3.50 | &nbsp;&nbsp; 1-22-2033 | 200000 | &nbsp;&nbsp; **236068** |
| **Entertainment: 1.18%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 888 Acquisitions Ltd.144A | 7.56 | &nbsp;&nbsp; 7-15-2027 | 320000 | &nbsp;&nbsp; 379300 |
| &nbsp;&nbsp;&nbsp; Banijay Entertainment SASU144A | 7.00 | &nbsp;&nbsp; 5-1-2029 | 390000 | &nbsp;&nbsp; 480120 |
| &nbsp;&nbsp;&nbsp; Cirsa Finance International Sarl144A | 10.38 | &nbsp;&nbsp; 11-30-2027 | 427500 | &nbsp;&nbsp; 528877 |
| &nbsp;&nbsp;&nbsp; Motion Finco Sarl | 7.38 | &nbsp;&nbsp; 6-15-2030 | 350000 | &nbsp;&nbsp; 386618 |
| &nbsp;&nbsp;&nbsp; Universal Music Group NV | 4.00 | &nbsp;&nbsp; 6-13-2031 | 420000 | &nbsp;&nbsp; 515597 |
|  |  |  |  | &nbsp;&nbsp; **2290512** |
| **Leisure time: 0.73%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TUI AG | 5.88 | &nbsp;&nbsp; 3-15-2029 | 700000 | &nbsp;&nbsp; 855487 |

---

See accompanying notes to portfolio of investments

10 \| Allspring Income Plus Fund

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Leisure time**(continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TUI Cruises GmbH144A | 5.00<br> %<br>| &nbsp;&nbsp; 5-15-2030 | EUR | 214000 | &nbsp;&nbsp; $253512 |
| &nbsp;&nbsp;&nbsp; TUI Cruises GmbH | 5.00 | &nbsp;&nbsp; 5-15-2030 | EUR | 250000 | &nbsp;&nbsp; 296159 |
|  |  |  |  |  | &nbsp;&nbsp; **1405158** |
| **Lodging: 0.27%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Essendi SA | 6.38 | &nbsp;&nbsp; 10-15-2029 | EUR | 415000 | &nbsp;&nbsp; **512666** |
| **Toys/games/hobbies: 0.12%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Asmodee Group AB | 5.75 | &nbsp;&nbsp; 12-15-2029 | EUR | 186667 | &nbsp;&nbsp; **230054** |
| **Consumer, non-cyclical: 1.56%** |  |  |  |  |  |
| **Commercial services: 0.63%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Amber Finco PLC | 6.63 | &nbsp;&nbsp; 7-15-2029 | EUR | 280000 | &nbsp;&nbsp; 345097 |
| &nbsp;&nbsp;&nbsp; Nexi SpA | 2.13 | &nbsp;&nbsp; 4-30-2029 | EUR | 250000 | &nbsp;&nbsp; 280357 |
| &nbsp;&nbsp;&nbsp; Transurban Finance Co. Pty. Ltd. | 4.23 | &nbsp;&nbsp; 4-26-2033 | EUR | 100000 | &nbsp;&nbsp; 123210 |
| &nbsp;&nbsp;&nbsp; Verisure Holding AB | 5.50 | &nbsp;&nbsp; 5-15-2030 | EUR | 113000 | &nbsp;&nbsp; 138106 |
| &nbsp;&nbsp;&nbsp; Verisure Holding AB144A | 9.25 | &nbsp;&nbsp; 10-15-2027 | EUR | 28000 | &nbsp;&nbsp; 34371 |
| &nbsp;&nbsp;&nbsp; Worldline SA | 4.13 | &nbsp;&nbsp; 9-12-2028 | EUR | 300000 | &nbsp;&nbsp; 310487 |
|  |  |  |  |  | &nbsp;&nbsp; **1231628** |
| **Food: 0.49%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Flora Food Management BV | 6.88 | &nbsp;&nbsp; 7-2-2029 | EUR | 250000 | &nbsp;&nbsp; 298830 |
| &nbsp;&nbsp;&nbsp; Iceland Bondco PLC | 4.38 | &nbsp;&nbsp; 5-15-2028 | GBP | 400000 | &nbsp;&nbsp; 510310 |
| &nbsp;&nbsp;&nbsp; Market Bidco Finco PLC | 5.50 | &nbsp;&nbsp; 11-4-2027 | GBP | 100000 | &nbsp;&nbsp; 134524 |
|  |  |  |  |  | &nbsp;&nbsp; **943664** |
| **Healthcare-services: 0.44%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Ephios Subco 3 Sarl | 7.88 | &nbsp;&nbsp; 1-31-2031 | EUR | 200000 | &nbsp;&nbsp; 253378 |
| &nbsp;&nbsp;&nbsp; Eurofins Scientific SE (3 Month EURIBOR+4.24%)ʊ± | 6.75 | &nbsp;&nbsp; 4-24-2028 | EUR | 475000 | &nbsp;&nbsp; 597270 |
|  |  |  |  |  | &nbsp;&nbsp; **850648** |
| **Energy: 0.62%** |  |  |  |  |  |
| **Oil & gas: 0.36%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Var Energi ASA (EURIBOR ICE Swap Rate 11:00am+4.77%)± | 7.86 | &nbsp;&nbsp; 11-15-2083 | EUR | 200000 | &nbsp;&nbsp; 258560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wintershall Dea Finance 2 BV Series NC8 (EUR Swap Annual <br> (vs. 6 Month EURIBOR) 5 Year+3.32%)ʊ±<br>| 3.00 | &nbsp;&nbsp; 7-20-2028 | EUR | 400000 | &nbsp;&nbsp; 442399 |
|  |  |  |  |  | &nbsp;&nbsp; **700959** |
| **Oil & gas services: 0.26%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; OEG Finance PLC | 7.25 | &nbsp;&nbsp; 9-27-2029 | EUR | 400000 | &nbsp;&nbsp; **492206** |
| **Financial: 2.69%** |  |  |  |  |  |
| **Banks: 1.63%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ABN AMRO Bank NV (EUR Swap Annual (vs. 6 Month <br> EURIBOR) 5 Year+3.90%)ʊ±<br>| 4.75 | &nbsp;&nbsp; 9-22-2027 | EUR | 400000 | &nbsp;&nbsp; 469531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BAWAG Group AG (EURIBOR ICE Swap Rate <br> 11:00am+5.05%)ʊ±<br>| 7.25 | &nbsp;&nbsp; 9-18-2029 | EUR | 200000 | &nbsp;&nbsp; 245337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CaixaBank SA (EUR Swap Annual (vs. 6 Month EURIBOR) 5 <br> Year+3.55%)±<br>| 6.25 | &nbsp;&nbsp; 2-23-2033 | EUR | 400000 | &nbsp;&nbsp; 505077 |

---

See accompanying notes to portfolio of investments

Allspring Income Plus Fund \| 11

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Banks**(continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG (3 Month EURIBOR+2.95%)± | 5.00<br> %<br>| &nbsp;&nbsp; 9-5-2030 | EUR | 200000 | &nbsp;&nbsp; $251275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KBC Group NV (EURIBOR ICE Swap Rate <br> 11:00am+4.93%)ʊ±<br>| 8.00 | &nbsp;&nbsp; 9-5-2028 | EUR | 200000 | &nbsp;&nbsp; 260940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raiffeisen Bank International AG (EURIBOR ICE Swap Rate <br> 11:00am+1.60%)±<br>| 1.38 | &nbsp;&nbsp; 6-17-2033 | EUR | 200000 | &nbsp;&nbsp; 221329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raiffeisen Bank International AG (EURIBOR ICE Swap Rate <br> 11:00am+5.20%)±<br>| 7.38 | &nbsp;&nbsp; 12-20-2032 | EUR | 400000 | &nbsp;&nbsp; 505717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Societe Generale SA (EURIBOR ICE Swap Rate <br> 11:00am+1.65%)±<br>| 3.75 | &nbsp;&nbsp; 5-17-2035 | EUR | 600000 | &nbsp;&nbsp; 701169 |
|  |  |  |  |  | &nbsp;&nbsp; **3160375** |
| **Diversified financial services: 0.24%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Sherwood Financing PLC | 4.50 | &nbsp;&nbsp; 11-15-2026 | EUR | 395000 | &nbsp;&nbsp; **463534** |
| **Insurance: 0.58%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AXA SA | 3.63 | &nbsp;&nbsp; 1-10-2033 | EUR | 400000 | &nbsp;&nbsp; 488293 |
| &nbsp;&nbsp;&nbsp; NN Group NV (3 Month EURIBOR+4.20%)± | 5.25 | &nbsp;&nbsp; 3-1-2043 | EUR | 205000 | &nbsp;&nbsp; 258360 |
| &nbsp;&nbsp;&nbsp; Sampo Oyj (3 Month EURIBOR+3.60%)± | 2.50 | &nbsp;&nbsp; 9-3-2052 | EUR | 355000 | &nbsp;&nbsp; 379149 |
|  |  |  |  |  | &nbsp;&nbsp; **1125802** |
| **Real estate: 0.24%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Castellum AB (EUR Swap Annual (vs. 6 Month EURIBOR) 5 <br> Year+3.45%)ʊ±<br>| 3.13 | &nbsp;&nbsp; 12-2-2026 | EUR | 400000 | &nbsp;&nbsp; **460897** |
| **Government securities: 0.36%** |  |  |  |  |  |
| **Multi-national: 0.36%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Asian Development Bank | 6.20 | &nbsp;&nbsp; 10-6-2026 | INR | 18450000 | &nbsp;&nbsp; 214622 |
| &nbsp;&nbsp;&nbsp; Banque Ouest Africaine de Developpement | 2.75 | &nbsp;&nbsp; 1-22-2033 | EUR | 485000 | &nbsp;&nbsp; 477841 |
|  |  |  |  |  | &nbsp;&nbsp; **692463** |
| **Industrial: 0.10%** |  |  |  |  |  |
| **Machinery-diversified: 0.10%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Nova Alexandre III SAS (3 Month EURIBOR+5.25%)144A± | 7.53 | &nbsp;&nbsp; 7-15-2029 | EUR | 160000 | &nbsp;&nbsp; **190833** |
| **Technology: 0.39%** |  |  |  |  |  |
| **Computers: 0.39%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Almaviva-The Italian Innovation Co. SpA144A | 5.00 | &nbsp;&nbsp; 10-30-2030 | EUR | 213000 | &nbsp;&nbsp; 251848 |
| &nbsp;&nbsp;&nbsp; Teleperformance SE | 5.75 | &nbsp;&nbsp; 11-22-2031 | EUR | 400000 | &nbsp;&nbsp; 507315 |
|  |  |  |  |  | &nbsp;&nbsp; **759163** |
| **Utilities: 1.25%** |  |  |  |  |  |
| **Electric: 0.64%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Engie SA | 2.13 | &nbsp;&nbsp; 3-30-2032 | EUR | 400000 | &nbsp;&nbsp; 439550 |
| &nbsp;&nbsp;&nbsp; Engie SA | 3.63 | &nbsp;&nbsp; 3-6-2031 | EUR | 300000 | &nbsp;&nbsp; 362422 |
| &nbsp;&nbsp;&nbsp; Vattenfall AB (UK Gilts 5 Year+1.90%)± | 2.50 | &nbsp;&nbsp; 6-29-2083 | GBP | 350000 | &nbsp;&nbsp; 434700 |
|  |  |  |  |  | &nbsp;&nbsp; **1236672** |
| **Gas: 0.34%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; APA Infrastructure Ltd. | 2.00 | &nbsp;&nbsp; 7-15-2030 | EUR | 595000 | &nbsp;&nbsp; **661415** |

---

See accompanying notes to portfolio of investments

12 \| Allspring Income Plus Fund

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Principal | Value |
| **Water: 0.27%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Holding d'Infrastructures des Metiers de l'Environnement | 4.88<br> %<br>| &nbsp;&nbsp; 10-24-2029 | EUR | 431000 | &nbsp;&nbsp; $**525924** |
| **Total foreign corporate bonds and notes (Cost $22,591,812)** |  |  |  |  | &nbsp;&nbsp; **24590285** |
| **Foreign government bonds: 8.99%** |  |  |  |  |  |
| **Brazil: 1.58%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Brazil## | 10.00 | &nbsp;&nbsp; 1-1-2027 | BRL | 18500000 | &nbsp;&nbsp; **3070527** |
| **Colombia: 0.95%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Colombia TES## | 7.75 | &nbsp;&nbsp; 9-18-2030 | COP | 8700000000 | &nbsp;&nbsp; **1839169** |
| **France: 2.13%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; French Republic OAT144A## | 2.70 | &nbsp;&nbsp; 2-25-2031 | EUR | 3495000 | &nbsp;&nbsp; **4120986** |
| **Indonesia: 0.99%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Indonesia## | 6.88 | &nbsp;&nbsp; 4-15-2029 | IDR | 30500000000 | &nbsp;&nbsp; **1914046** |
| **South Africa: 0.72%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Republic of South Africa## | 8.00 | &nbsp;&nbsp; 1-31-2030 | ZAR | 25005000 | &nbsp;&nbsp; **1389014** |
| **United Kingdom: 2.62%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.K. Gilts## | 3.25 | &nbsp;&nbsp; 1-31-2033 | GBP | 2065000 | &nbsp;&nbsp; 2651012 |
| &nbsp;&nbsp;&nbsp; U.K. Gilts## | 4.13 | &nbsp;&nbsp; 7-22-2029 | GBP | 1750000 | &nbsp;&nbsp; 2424517 |
|  |  |  |  |  | &nbsp;&nbsp; **5075529** |
| **Total foreign government bonds (Cost $16,866,956)** |  |  |  |  | &nbsp;&nbsp; **17409271** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Investment companies: 0.86%** |  |  |
| **Exchange-traded funds: 0.86%** |  |  |
| &nbsp;&nbsp;&nbsp; SPDR Portfolio High Yield Bond ETF | 69895 | &nbsp;&nbsp; **1663501** |
| **Total investment companies (Cost $1,598,356)** |  | &nbsp;&nbsp; **1663501** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>| Principal |  |
| **Loans: 1.06%** |  |  |  |  |
| **Communications: 0.14%** |  |  |  |  |
| **Media: 0.01%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; DIRECTV Financing LLC (U.S. SOFR 3 Month+5.00%)± | 9.54 | &nbsp;&nbsp; 8-2-2027 | $26051 | &nbsp;&nbsp; **26122** |
| **Telecommunications: 0.13%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CommScope, Inc. (U.S. SOFR 1 Month+5.25%)± | 9.58 | &nbsp;&nbsp; 12-17-2029 | 150000 | &nbsp;&nbsp; 151641 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc. (U.S. SOFR 1 Month+2.35%)± | 6.79 | &nbsp;&nbsp; 4-15-2030 | 100000 | &nbsp;&nbsp; 98641 |
|  |  |  |  | &nbsp;&nbsp; **250282** |
| **Consumer, cyclical: 0.56%** |  |  |  |  |
| **Airlines: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vista Management Holding, Inc. (U.S. SOFR 3 <br> Month+3.75%)±<br>| 8.05 | &nbsp;&nbsp; 4-1-2031 | 35000 | &nbsp;&nbsp; **35059** |

---

See accompanying notes to portfolio of investments

Allspring Income Plus Fund \| 13

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Auto parts & equipment: 0.09%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; First Brands Group LLC (U.S. SOFR 3 Month+5.00%)± | 9.54<br> %<br>| &nbsp;&nbsp; 3-30-2027 | $181539 | &nbsp;&nbsp; **$171202** |
| **Entertainment: 0.25%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Crown Finance U.S., Inc. (U.S. SOFR 1 Month+5.25%)± | 9.57 | &nbsp;&nbsp; 12-2-2031 | 492525 | &nbsp;&nbsp; **491909** |
| **Housewares: 0.08%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; American Greetings Corp. (U.S. SOFR 1 Month+5.75%)± | 10.08 | &nbsp;&nbsp; 10-30-2029 | 154642 | &nbsp;&nbsp; **154514** |
| **Retail: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petco Health & Wellness Co., Inc. (U.S. SOFR 3 <br> Month+3.25%)±<br>| 7.81 | &nbsp;&nbsp; 3-3-2028 | 260000 | &nbsp;&nbsp; **238945** |
| **Financial: 0.11%** |  |  |  |  |
| **Insurance: 0.11%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Asurion LLC (U.S. SOFR 1 Month+5.25%)± | 9.69 | &nbsp;&nbsp; 1-31-2028 | 215000 | &nbsp;&nbsp; **205056** |
| **Industrial: 0.22%** |  |  |  |  |
| **Building materials: 0.22%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CP Atlas Buyer, Inc. (U.S. SOFR 1 Month+3.75%)± | 8.18 | &nbsp;&nbsp; 11-23-2027 | 437328 | &nbsp;&nbsp; **435325** |
| **Technology: 0.03%** |  |  |  |  |
| **Software: 0.03%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Rocket Software, Inc. (U.S. SOFR 1 Month+4.25%)± | 8.58 | &nbsp;&nbsp; 11-28-2028 | 49151 | &nbsp;&nbsp; **49246** |
| **Total loans (Cost $2,071,035)** |  |  |  | &nbsp;&nbsp; **2057660** |
| **Municipal obligations: 0.02%** |  |  |  |  |
| **Illinois: 0.02%** |  |  |  |  |
| **GO revenue: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; City of Chicago Series E | 6.05 | &nbsp;&nbsp; 1-1-2029 | 30000 | &nbsp;&nbsp; **30447** |
| **Total municipal obligations (Cost $30,550)** |  |  |  | &nbsp;&nbsp; **30447** |
| **Non-agency mortgage-backed securities: 3.25%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brean Asset-Backed Securities Trust Series 2021-RM2 <br> Class A144A±±<br>| 1.75 | &nbsp;&nbsp; 10-25-2061 | 758314 | &nbsp;&nbsp; 728109 |
| &nbsp;&nbsp;&nbsp; BX Trust Series 2022-CLS Class C144A | 6.79 | &nbsp;&nbsp; 10-13-2027 | 750000 | &nbsp;&nbsp; 736589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hudson's Bay Simon JV Trust Series 2015-HB10 <br> Class A10144A<br>| 4.15 | &nbsp;&nbsp; 8-5-2034 | 535000 | &nbsp;&nbsp; 532401 |
| &nbsp;&nbsp;&nbsp; JPMorgan Mortgage Trust Series 2017-6 Class B5144A±± | 3.78 | &nbsp;&nbsp; 12-25-2048 | 399183 | &nbsp;&nbsp; 319841 |
| &nbsp;&nbsp;&nbsp; MFA Trust Series 2020-NQM3 Class M1144A±± | 2.65 | &nbsp;&nbsp; 1-26-2065 | 1000000 | &nbsp;&nbsp; 923055 |
| &nbsp;&nbsp;&nbsp; MFA Trust Series 2021-NQM1 Class A1144A±± | 1.15 | &nbsp;&nbsp; 4-25-2065 | 51721 | &nbsp;&nbsp; 48397 |
| &nbsp;&nbsp;&nbsp; RCKT Mortgage Trust Series 2025-CES1 Class A1A144A±± | 5.65 | &nbsp;&nbsp; 1-25-2045 | 931973 | &nbsp;&nbsp; 937510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SDAL Trust Series 2025-DAL Class B (U.S. SOFR 1 <br> Month+2.94%)144A±<br>| 7.25 | &nbsp;&nbsp; 4-15-2042 | 500000 | &nbsp;&nbsp; 503421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SFAVE Commercial Mortgage Securities Trust Series 2015-<br> 5AVE Class A2B144A±±<br>| 4.14 | &nbsp;&nbsp; 1-5-2043 | 505000 | &nbsp;&nbsp; 438423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SFAVE Commercial Mortgage Securities Trust Series 2015-<br> 5AVE Class D144A±±<br>| 4.53 | &nbsp;&nbsp; 1-5-2043 | 700000 | &nbsp;&nbsp; 550660 |

---

See accompanying notes to portfolio of investments

14 \| Allspring Income Plus Fund

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Non-agency mortgage-backed securities**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TRK Trust Series 2021-INV2 Class A2144A±± | 2.12<br> %<br>| &nbsp;&nbsp; 11-25-2056 | $595759 | &nbsp;&nbsp; $527077 |
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust Series 2021-2 Class A1144A±± | 1.03 | &nbsp;&nbsp; 2-25-2066 | 60662 | &nbsp;&nbsp; 53835 |
| &nbsp;&nbsp; **Total non-agency mortgage-backed securities (Cost** <br> **$6,610,790)**<br>|  |  |  | &nbsp;&nbsp; **6299318** |
| **U.S. Treasury securities: 17.71%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds## | 3.00 | &nbsp;&nbsp; 2-15-2049 | 135000 | &nbsp;&nbsp; 99468 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds## | 4.25 | &nbsp;&nbsp; 8-15-2054 | 1335000 | &nbsp;&nbsp; 1219126 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds## | 4.50 | &nbsp;&nbsp; 11-15-2054 | 60000 | &nbsp;&nbsp; 57178 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds## | 4.63 | &nbsp;&nbsp; 11-15-2044 | 195000 | &nbsp;&nbsp; 190887 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds## | 4.63 | &nbsp;&nbsp; 2-15-2055 | 1400000 | &nbsp;&nbsp; 1362812 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds## | 4.75 | &nbsp;&nbsp; 2-15-2045 | 40000 | &nbsp;&nbsp; 39788 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes## | 3.88 | &nbsp;&nbsp; 3-31-2027 | 275000 | &nbsp;&nbsp; 275430 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes## | 3.88 | &nbsp;&nbsp; 4-30-2030 | 635000 | &nbsp;&nbsp; 637480 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes## | 4.00 | &nbsp;&nbsp; 3-31-2030 | 4550000 | &nbsp;&nbsp; 4592301 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes## | 4.00 | &nbsp;&nbsp; 5-31-2030 | 1005000 | &nbsp;&nbsp; 1014736 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes## | 4.13 | &nbsp;&nbsp; 10-31-2026 | 4170000 | &nbsp;&nbsp; 4181565 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes## | 4.13 | &nbsp;&nbsp; 2-28-2027 | 13480000 | &nbsp;&nbsp; 13550032 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes## | 4.25 | &nbsp;&nbsp; 5-15-2035 | 6180000 | &nbsp;&nbsp; 6189656 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes## | 4.63 | &nbsp;&nbsp; 2-15-2035 | 835000 | &nbsp;&nbsp; 861485 |
| **Total U.S. Treasury securities (Cost $34,098,825)** |  |  |  | &nbsp;&nbsp; **34271944** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | Expiration <br>date<br>| Shares |  |
| **Warrants: 0.00%** |  |  |  |
| **Consumer staples: 0.00%** |  |  |  |
| **Consumer staples distribution & retail: 0.00%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Casino Guichard Perrachon SA♦‡† | &nbsp;&nbsp; 4-27-2029 | 128399 | &nbsp;&nbsp; **76** |
| **Total warrants (Cost $0)** |  |  | &nbsp;&nbsp; **76** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>| Maturity <br>date<br>| Principal |  |
| **Yankee corporate bonds and notes: 10.18%** |  |  |  |  |
| **Basic materials: 0.44%** |  |  |  |  |
| **Chemicals: 0.28%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Braskem Netherlands Finance BV144A | 7.25 | &nbsp;&nbsp; 2-13-2033 | $400000 | &nbsp;&nbsp; 316886 |
| &nbsp;&nbsp;&nbsp; Orbia Advance Corp. SAB de CV144A | 7.50 | &nbsp;&nbsp; 5-13-2035 | 215000 | &nbsp;&nbsp; 222637 |
|  |  |  |  | &nbsp;&nbsp; **539523** |
| **Mining: 0.16%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Rio Tinto Finance USA PLC | 5.88 | &nbsp;&nbsp; 3-14-2065 | 315000 | &nbsp;&nbsp; **316349** |
| **Communications: 0.36%** |  |  |  |  |
| **Media: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Virgin Media Secured Finance PLC144A | 4.50 | &nbsp;&nbsp; 8-15-2030 | 45000 | &nbsp;&nbsp; **41823** |

---

See accompanying notes to portfolio of investments

Allspring Income Plus Fund \| 15

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Telecommunications: 0.34%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rogers Communications, Inc. (5 Year Treasury Constant <br> Maturity+2.62%)±<br>| 7.13<br> %<br>| &nbsp;&nbsp; 4-15-2055 | $475000 | &nbsp;&nbsp; $481462 |
| &nbsp;&nbsp;&nbsp; TELUS Corp. (5 Year Treasury Constant Maturity+2.71%)± | 7.00 | &nbsp;&nbsp; 10-15-2055 | 180000 | &nbsp;&nbsp; 181204 |
|  |  |  |  | &nbsp;&nbsp; **662666** |
| **Consumer, cyclical: 0.54%** |  |  |  |  |
| **Leisure time: 0.54%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Carnival Corp.144A | 6.13 | &nbsp;&nbsp; 2-15-2033 | 330000 | &nbsp;&nbsp; 337640 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd.144A | 5.63 | &nbsp;&nbsp; 9-30-2031 | 50000 | &nbsp;&nbsp; 50305 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd.144A | 6.00 | &nbsp;&nbsp; 2-1-2033 | 645000 | &nbsp;&nbsp; 657434 |
|  |  |  |  | &nbsp;&nbsp; **1045379** |
| **Consumer, non-cyclical: 0.74%** |  |  |  |  |
| **Beverages: 0.30%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Coca-Cola Icecek AS144A | 4.50 | &nbsp;&nbsp; 1-20-2029 | 595000 | &nbsp;&nbsp; **578407** |
| **Cosmetics/Personal Care: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Perrigo Finance Unlimited Co. | 6.13 | &nbsp;&nbsp; 9-30-2032 | 35000 | &nbsp;&nbsp; **35336** |
| **Pharmaceuticals: 0.42%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 1261229 BC Ltd.144A | 10.00 | &nbsp;&nbsp; 4-15-2032 | 585000 | &nbsp;&nbsp; 590131 |
| &nbsp;&nbsp;&nbsp; Bausch Health Cos., Inc.144A | 11.00 | &nbsp;&nbsp; 9-30-2028 | 150000 | &nbsp;&nbsp; 148500 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV | 8.13 | &nbsp;&nbsp; 9-15-2031 | 70000 | &nbsp;&nbsp; 79265 |
|  |  |  |  | &nbsp;&nbsp; **817896** |
| **Energy: 1.27%** |  |  |  |  |
| **Oil & gas: 0.97%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aker BP ASA144A | 5.13 | &nbsp;&nbsp; 10-1-2034 | 215000 | &nbsp;&nbsp; 206427 |
| &nbsp;&nbsp;&nbsp; Borr IHC Ltd./Borr Finance LLC144A | 10.00 | &nbsp;&nbsp; 11-15-2028 | 400610 | &nbsp;&nbsp; 365874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BP Capital Markets PLC (5 Year Treasury Constant <br> Maturity+4.40%)ʊ±<br>| 4.88 | &nbsp;&nbsp; 3-22-2030 | 725000 | &nbsp;&nbsp; 717487 |
| &nbsp;&nbsp;&nbsp; Eni SpA144A | 5.95 | &nbsp;&nbsp; 5-15-2054 | 420000 | &nbsp;&nbsp; 406324 |
| &nbsp;&nbsp;&nbsp; TotalEnergies Capital SA | 5.43 | &nbsp;&nbsp; 9-10-2064 | 195000 | &nbsp;&nbsp; 182432 |
|  |  |  |  | &nbsp;&nbsp; **1878544** |
| **Pipelines: 0.30%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. | 5.95 | &nbsp;&nbsp; 4-5-2054 | 220000 | &nbsp;&nbsp; 217732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc. Series 20-A (5 Year Treasury Constant <br> Maturity+5.31%)±<br>| 5.75 | &nbsp;&nbsp; 7-15-2080 | 340000 | &nbsp;&nbsp; 339048 |
| &nbsp;&nbsp;&nbsp; Northriver Midstream Finance LP144A | 6.75 | &nbsp;&nbsp; 7-15-2032 | 25000 | &nbsp;&nbsp; 25891 |
|  |  |  |  | &nbsp;&nbsp; **582671** |
| **Financial: 5.64%** |  |  |  |  |
| **Banks: 3.95%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AIB Group PLC (U.S. SOFR+1.65%)144A± | 5.32 | &nbsp;&nbsp; 5-15-2031 | 215000 | &nbsp;&nbsp; 218771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Industrial SA (5 Year Treasury Constant <br> Maturity+4.44%)144A±<br>| 4.88 | &nbsp;&nbsp; 1-29-2031 | 300000 | &nbsp;&nbsp; 298350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Mercantil del Norte SA (5 Year Treasury Constant <br> Maturity+4.07%)144Aʊ±<br>| 8.38 | &nbsp;&nbsp; 5-20-2031 | 650000 | &nbsp;&nbsp; 658372 |

---

See accompanying notes to portfolio of investments

16 \| Allspring Income Plus Fund

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Banks**(continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Nacional de Comercio Exterior SNC (5 Year Treasury <br> Constant Maturity+2.00%)144A±<br>| 2.72<br> %<br>| &nbsp;&nbsp; 8-11-2031 | $385000 | &nbsp;&nbsp; $364323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bancolombia SA (5 Year Treasury Constant <br> Maturity+4.32%)±<br>| 8.63 | &nbsp;&nbsp; 12-24-2034 | 145000 | &nbsp;&nbsp; 152455 |
| &nbsp;&nbsp;&nbsp; Barclays PLC (U.S. SOFR+1.23%)± | 5.37 | &nbsp;&nbsp; 2-25-2031 | 260000 | &nbsp;&nbsp; 265587 |
| &nbsp;&nbsp;&nbsp; Barclays PLC (U.S. SOFR+1.59%)± | 5.79 | &nbsp;&nbsp; 2-25-2036 | 625000 | &nbsp;&nbsp; 638805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BBVA Mexico SA Institucion De Banca Multiple Grupo <br> Financiero (5 Year Treasury Constant <br> Maturity+4.31%)144A±<br>| 5.88 | &nbsp;&nbsp; 9-13-2034 | 300000 | &nbsp;&nbsp; 294821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNP Paribas SA (5 Year Treasury Constant <br> Maturity+4.90%)144Aʊ±<br>| 7.75 | &nbsp;&nbsp; 8-16-2029 | 220000 | &nbsp;&nbsp; 231391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonwealth Bank of Australia (1 Year Treasury Constant <br> Maturity+1.32%)144A±<br>| 5.93 | &nbsp;&nbsp; 3-14-2046 | 415000 | &nbsp;&nbsp; 407507 |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA (5 Year USD Swap Rate+6.19%)144Aʊ± | 8.13 | &nbsp;&nbsp; 12-23-2025 | 215000 | &nbsp;&nbsp; 217688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Danske Bank AS (1 Year Treasury Constant <br> Maturity+1.75%)144A±<br>| 4.30 | &nbsp;&nbsp; 4-1-2028 | 830000 | &nbsp;&nbsp; 827058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC (5 Year Treasury Constant <br> Maturity+4.82%)ʊ±<br>| 6.75 | &nbsp;&nbsp; 6-27-2026 | 215000 | &nbsp;&nbsp; 216140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. (1 Year Treasury <br> Constant Maturity+1.27%)±<br>| 5.62 | &nbsp;&nbsp; 4-24-2036 | 420000 | &nbsp;&nbsp; 431892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Australia Bank Ltd. (5 Year Treasury Constant <br> Maturity+1.70%)144A±<br>| 3.35 | &nbsp;&nbsp; 1-12-2037 | 995000 | &nbsp;&nbsp; 879237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NatWest Group PLC (5 Year Treasury Constant <br> Maturity+5.63%)ʊ±<br>| 6.00 | &nbsp;&nbsp; 12-29-2025 | 315000 | &nbsp;&nbsp; 314483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG (1 Year Treasury Constant <br> Maturity+1.77%)144A±<br>| 5.70 | &nbsp;&nbsp; 2-8-2035 | 580000 | &nbsp;&nbsp; 602443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG (5 Year Treasury Constant <br> Maturity+3.40%)144Aʊ±<br>| 4.88 | &nbsp;&nbsp; 2-12-2027 | 430000 | &nbsp;&nbsp; 418237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG (USD SOFR ICE Swap Rate 11:00am NY 5 <br> Year+3.63%)144Aʊ±<br>| 6.85 | &nbsp;&nbsp; 9-10-2029 | 215000 | &nbsp;&nbsp; 215944 |
|  |  |  |  | &nbsp;&nbsp; **7653504** |
| **Diversified financial services: 1.06%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation Trust (5 <br> Year Treasury Constant Maturity+2.72%)±<br>| 6.95 | &nbsp;&nbsp; 3-10-2055 | 575000 | &nbsp;&nbsp; 597534 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding Ltd.144A | 2.75 | &nbsp;&nbsp; 2-21-2028 | 190000 | &nbsp;&nbsp; 180307 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding Ltd.144A | 5.75 | &nbsp;&nbsp; 11-15-2029 | 215000 | &nbsp;&nbsp; 221316 |
| &nbsp;&nbsp;&nbsp; Global Aircraft Leasing Co. Ltd.144A | 8.75 | &nbsp;&nbsp; 9-1-2027 | 315000 | &nbsp;&nbsp; 322910 |
| &nbsp;&nbsp;&nbsp; Macquarie AirFinance Holdings Ltd.144A | 6.40 | &nbsp;&nbsp; 3-26-2029 | 175000 | &nbsp;&nbsp; 182692 |
| &nbsp;&nbsp;&nbsp; Marex Group PLC | 5.83 | &nbsp;&nbsp; 5-8-2028 | 495000 | &nbsp;&nbsp; 501413 |
| &nbsp;&nbsp;&nbsp; Unifin Financiera SAB de CV144A | 9.88 | &nbsp;&nbsp; 1-28-2029 | 600000 | &nbsp;&nbsp; 36600 |
|  |  |  |  | &nbsp;&nbsp; **2042772** |
| **Insurance: 0.63%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aspen Insurance Holdings Ltd. | 5.75 | &nbsp;&nbsp; 7-1-2030 | 130000 | &nbsp;&nbsp; 132149 |
| &nbsp;&nbsp;&nbsp; Intact Financial Corp.144A | 5.46 | &nbsp;&nbsp; 9-22-2032 | 620000 | &nbsp;&nbsp; 634817 |
| &nbsp;&nbsp;&nbsp; RenaissanceRe Holdings Ltd. | 5.80 | &nbsp;&nbsp; 4-1-2035 | 445000 | &nbsp;&nbsp; 457204 |
|  |  |  |  | &nbsp;&nbsp; **1224170** |

---

See accompanying notes to portfolio of investments

Allspring Income Plus Fund \| 17

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Government securities: 0.12%** |  |  |  |  |
| **Multi-national: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; African Export-Import Bank144A | 3.80<br> %<br>| &nbsp;&nbsp; 5-17-2031 | $260000 | &nbsp;&nbsp; **$224546** |
| **Industrial: 0.43%** |  |  |  |  |
| **Electronics: 0.01%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Sensata Technologies BV144A | 5.88 | &nbsp;&nbsp; 9-1-2030 | 25000 | &nbsp;&nbsp; **25033** |
| **Engineering & construction: 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CIMIC Finance USA Pty. Ltd.144A | 7.00 | &nbsp;&nbsp; 3-25-2034 | 40000 | &nbsp;&nbsp; **42587** |
| **Packaging & containers: 0.28%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV144A | 12.25 | &nbsp;&nbsp; 1-15-2031 | 500000 | &nbsp;&nbsp; **535967** |
| **Trucking & leasing: 0.12%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; SMBC Aviation Capital Finance DAC144A | 5.45 | &nbsp;&nbsp; 5-3-2028 | 215000 | &nbsp;&nbsp; **219793** |
| **Utilities: 0.64%** |  |  |  |  |
| **Electric: 0.64%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Comision Federal de Electricidad144A | 3.35 | &nbsp;&nbsp; 2-9-2031 | 280000 | &nbsp;&nbsp; 246649 |
| &nbsp;&nbsp;&nbsp; Comision Federal de Electricidad144A | 3.88 | &nbsp;&nbsp; 7-26-2033 | 700000 | &nbsp;&nbsp; 595297 |
| &nbsp;&nbsp;&nbsp; Emera, Inc. Series 16-A (3 Month LIBOR+5.44%)± | 6.75 | &nbsp;&nbsp; 6-15-2076 | 395000 | &nbsp;&nbsp; 397478 |
|  |  |  |  | &nbsp;&nbsp; **1239424** |
| **Total yankee corporate bonds and notes (Cost $19,893,001)** |  |  |  | &nbsp;&nbsp; **19706390** |
| **Yankee government bonds: 2.16%** |  |  |  |  |
| **Argentina: 0.27%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Argentinaøø## | 4.13 | &nbsp;&nbsp; 7-9-2035 | 260000 | &nbsp;&nbsp; 174907 |
| &nbsp;&nbsp;&nbsp; Provincia de Cordoba144Aøø## | 6.88 | &nbsp;&nbsp; 12-10-2025 | 42413 | &nbsp;&nbsp; 42519 |
| &nbsp;&nbsp;&nbsp; Provincia de Cordoba144Aøø## | 6.88 | &nbsp;&nbsp; 2-1-2029 | 332619 | &nbsp;&nbsp; 313493 |
|  |  |  |  | &nbsp;&nbsp; **530919** |
| **Colombia: 0.32%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Colombia## | 7.50 | &nbsp;&nbsp; 2-2-2034 | 325000 | &nbsp;&nbsp; 322990 |
| &nbsp;&nbsp;&nbsp; Colombia## | 8.00 | &nbsp;&nbsp; 11-14-2035 | 295000 | &nbsp;&nbsp; 296266 |
|  |  |  |  | &nbsp;&nbsp; **619256** |
| **Dominican Republic: 0.13%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dominican Republic144A## | 7.05 | &nbsp;&nbsp; 2-3-2031 | 235000 | &nbsp;&nbsp; **246210** |
| **Israel: 0.17%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Israel## | 5.75 | &nbsp;&nbsp; 3-12-2054 | 360000 | &nbsp;&nbsp; **333188** |
| **Ivory Coast: 0.15%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Ivory Coast144A## | 8.25 | &nbsp;&nbsp; 1-30-2037 | 300000 | &nbsp;&nbsp; **288963** |
| **Mexico: 0.27%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Mexico## | 6.35 | &nbsp;&nbsp; 2-9-2035 | 510000 | &nbsp;&nbsp; **520889** |

---

See accompanying notes to portfolio of investments

18 \| Allspring Income Plus Fund

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest<br> rate<br>| Maturity<br> date<br>| Principal | Value |
| **Panama: 0.51%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Panama## | 2.25<br> %<br>| &nbsp;&nbsp; 9-29-2032 | $645000 | &nbsp;&nbsp; $491793 |
| &nbsp;&nbsp;&nbsp; Panama## | 4.50 | &nbsp;&nbsp; 1-19-2063 | 765000 | &nbsp;&nbsp; 491413 |
|  |  |  |  | &nbsp;&nbsp; **983206** |
| **Peru: 0.34%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Corp. Financiera de Desarrollo SA144A## | 5.95 | &nbsp;&nbsp; 4-30-2029 | 640000 | &nbsp;&nbsp; **659853** |
| **Total yankee government bonds (Cost $4,107,762)** |  |  |  | &nbsp;&nbsp; **4182484** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | Yield | Shares |  |
| **Short-term investments: 4.61%** |  |  |  |
| **Investment companies: 1.51%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund Select <br> Class♠∞##<br>| 4.26 | 2924351 | &nbsp;&nbsp; **2924351** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>| Principal |  |
| **U.S. Treasury securities: 3.10%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bills☼ |  | 3.75 | &nbsp;&nbsp; 7-10-2025 | $6000000 | &nbsp;&nbsp; **5993713** |
| **Total short-term investments (Cost $8,918,112)** |  |  |  |  | &nbsp;&nbsp; **8918064** |
| **Total investments in securities (Cost $244,534,426)** | 128.19<br> %<br>|  |  |  | &nbsp;&nbsp; 248112196 |
| &nbsp;&nbsp;&nbsp; Other assets and liabilities, net | (28.19)<br>|  |  |  | &nbsp;&nbsp; (54565901)<br>|
| **Total net assets** | **100.00%**<br>|  |  |  | &nbsp;&nbsp; **$193546295** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| All or a portion of this security is segregated as collateral for when-issued securities. |
| The security is purchased on a when-issued basis. |
| The security may be resold in transactions exempt from registration, normally to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of <br> 1933.<br>|
| The coupon of the security is adjusted based on the principal and/or interest payments received from the underlying pool of mortgages as well as the credit quality <br> and the actual prepayment speed of the underlying mortgages. The rate shown is the rate in effect at period end.<br>|
| Variable rate investment. The rate shown is the rate in effect at period end. |
| Security is valued using significant unobservable inputs. |
| Non-income-earning security |
| The security is fair valued in accordance with procedures approved by Allspring Funds Management, LLC. |
| ¥A payment-in-kind (PIK) security is a security in which the issuer may make interest or dividend payments in cash or additional securities or a combination of both. <br> The rate shown is the rate in effect at period end.<br>|
| The security is issued in zero coupon form with no periodic interest payments. |
| Security is perpetual in nature and has no stated maturity date. The date shown reflects the next call date. |
| The interest rate is determined and reset by the issuer periodically depending upon the terms of the security. The rate shown is the rate in effect at period end. |
| The issuer of the security is an affiliated person of the Fund as defined in the Investment Company Act of 1940. |
| The rate represents the 7-day annualized yield at period end. |
| Zero coupon security. The rate represents the current yield to maturity. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See accompanying notes to portfolio of investments

Allspring Income Plus Fund \| 19

------

Portfolio of investments—June 30, 2025 (unaudited)

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| BDC | Business Development Company |
| BRL | Brazilian real |
| COP | Colombian peso |
| EUR | Euro |
| EURIBOR | Euro Interbank Offered Rate |
| FHLMC | Federal Home Loan Mortgage Corporation |
| FNMA | Federal National Mortgage Association |
| GBP | Great British pound |
| GNMA | Government National Mortgage Association |
| GO | General obligation |
| IDR | Indonesian rupiah |
| INR | Indian rupee |
| LIBOR | London Interbank Offered Rate |
| NPFGC | National Public Finance Guarantee Corporation |
| REIT | Real estate investment trust |
| SOFR | Secured Overnight Financing Rate |
| ZAR | South African rand |

---

**Investments in affiliates**

An affiliated investment is an investment in which the Fund owns at least 5% of the outstanding voting shares of the issuer or as a result of other relationships, such as the Fund and the issuer having the same investment manager. Transactions with issuers that were affiliates of the Fund at the end of the period were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value, <br>beginning of <br>period<br>| Purchases | Sales <br>proceeds<br>| Net <br>realized <br>gains <br>(losses)<br>| Net <br>change in <br>unrealized <br>gains <br>(losses)<br>| Value, <br>end of <br>period<br>| Shares, <br>end <br>of period<br>| Income <br>from <br>affiliated <br>securities<br>|
| **Short-term investments** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund Select <br> Class<br>| $15122046 | $133401358 | $(145599053)<br>| $0 | $0 | $2924351 | 2924351 | $225729 |

---

**Forward foreign currency contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Currency to be <br>received | Currency to be <br>received | &nbsp;&nbsp;&nbsp; Currency to be <br>delivered | &nbsp;&nbsp;&nbsp; Currency to be <br>delivered | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date<br>| &nbsp;&nbsp; Unrealized <br>gains<br>| &nbsp;&nbsp; Unrealized <br>losses<br>|
| USD | 1315649 | BRL | 7400000 | Morgan Stanley, Inc. | 9-30-2025 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $(16034)<br>|
| USD | 1940826 | BRL | 10935000 | Morgan Stanley, Inc. | 9-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (27006)<br>|
| USD | 28715816 | EUR | 24794000 | Citibank N.A. | 9-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (663650)<br>|
| EUR | 320000 | USD | 373293 | Citibank N.A. | 9-30-2025 | &nbsp;&nbsp;&nbsp; 5888 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 6402818 | GBP | 4743000 | Citibank N.A. | 9-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (111451)<br>|
| USD | 192445 | GBP | 140000 | Citibank N.A. | 9-30-2025 | &nbsp;&nbsp;&nbsp; 162 | &nbsp;&nbsp;&nbsp; 0 |
| JPY | 130000000 | USD | 903316 | Citibank N.A. | 9-30-2025 | &nbsp;&nbsp;&nbsp; 8551 | &nbsp;&nbsp;&nbsp; 0 |
| JPY | 22000000 | USD | 152820 | Citibank N.A. | 9-30-2025 | &nbsp;&nbsp;&nbsp; 1496 | &nbsp;&nbsp;&nbsp; 0 |
| JPY | 119000000 | USD | 821625 | Citibank N.A. | 9-30-2025 | &nbsp;&nbsp;&nbsp; 13085 | &nbsp;&nbsp;&nbsp; 0 |
| USD | 209890 | ZAR | 3800000 | Morgan Stanley, Inc. | 9-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (3360)<br>|
| USD | 1191411 | ZAR | 21470000 | Morgan Stanley, Inc. | 9-30-2025 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; (13451)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; **$29182** | &nbsp;&nbsp;&nbsp; **$(834952)**<br>|

---

**Futures contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp; Notional <br>cost<br>| &nbsp;&nbsp; Notional <br>value<br>| &nbsp;&nbsp; Unrealized <br>gains<br>| &nbsp;&nbsp; Unrealized <br>losses<br>|
| **Long** |  |  |  |  |  |  |
| &nbsp;&nbsp; Ultra Long Term U.S. Treasury Bond | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 9-19-2025 | &nbsp;&nbsp; $2779481 | &nbsp;&nbsp; $2859000 | &nbsp;&nbsp; $79519 | &nbsp;&nbsp; $0 |
| &nbsp;&nbsp; 2-Year U.S. Treasury Notes | &nbsp;&nbsp; 82 | &nbsp;&nbsp; 9-30-2025 | &nbsp;&nbsp; 16982734 | &nbsp;&nbsp; 17057922 | &nbsp;&nbsp; 75188 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; 5-Year U.S. Treasury Notes | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 9-30-2025 | &nbsp;&nbsp; 7801724 | &nbsp;&nbsp; 7848000 | &nbsp;&nbsp; 46276 | &nbsp;&nbsp; 0 |

---

See accompanying notes to portfolio of investments

20 \| Allspring Income Plus Fund

------

Portfolio of investments—June 30, 2025 (unaudited)

**Futures contracts** (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp; Number of<br> contracts<br>| &nbsp;&nbsp; Expiration<br> date<br>| &nbsp;&nbsp; Notional<br> cost<br>| &nbsp;&nbsp; Notional<br> value<br>| &nbsp;&nbsp; Unrealized<br> gains<br>| &nbsp;&nbsp; Unrealized<br> losses<br>|
| **Short** |  |  |  |  |  |  |
| &nbsp;&nbsp; 10-Year Euro BUND Index | &nbsp;&nbsp; (43)<br>| &nbsp;&nbsp; 9-8-2025 | &nbsp;&nbsp; $(6638871)<br>| &nbsp;&nbsp; $(6592342)<br>| &nbsp;&nbsp; $46529 | &nbsp;&nbsp; $0 |
| &nbsp;&nbsp; 2-Year Euro SCHATZ | &nbsp;&nbsp; (41)<br>| &nbsp;&nbsp; 9-8-2025 | &nbsp;&nbsp; (5188610)<br>| &nbsp;&nbsp; (5179743)<br>| &nbsp;&nbsp; 8867 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; 5-Year Euro-BOBL Futures | &nbsp;&nbsp; (44)<br>| &nbsp;&nbsp; 9-8-2025 | &nbsp;&nbsp; (6124658)<br>| &nbsp;&nbsp; (6099334)<br>| &nbsp;&nbsp; 25324 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; Ultra 10-Year U.S. Treasury Notes | &nbsp;&nbsp; (134)<br>| &nbsp;&nbsp; 9-19-2025 | &nbsp;&nbsp; (15054895)<br>| &nbsp;&nbsp; (15311594)<br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; (256699)<br>|
|  |  |  |  |  | &nbsp;&nbsp; **$281703** | &nbsp;&nbsp; **$(256699)**<br>|

---

**Centrally cleared credit default swap contracts** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference index | Fixed rate <br>received<br>| &nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp; Maturity <br>date<br>| Notional <br>amount | Notional <br>amount | Value | Premiums <br>paid <br>(received)<br>| Unrealized <br>gains<br>| Unrealized <br>losses<br>|
| **Buy Protection** |  |  |  |  |  |  |  |  |  |
| Markit CDX Emerging Markets Index S42  | 5.00% | Quarterly | 6-20-2029 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 1720000 | &nbsp;&nbsp; $133484 | &nbsp;&nbsp; $105369 | &nbsp;&nbsp; $28115 | &nbsp;&nbsp; $0 |
| **Sell Protection** |  |  |  |  |  |  |  |  |  |
| Markit iTraxx Europe Crossover S42  | 5.00 | Quarterly | 12-20-2029 | &nbsp;&nbsp; EUR | &nbsp;&nbsp; 774536 | &nbsp;&nbsp; 83013 | &nbsp;&nbsp; (15974)<br>| &nbsp;&nbsp; 98987 | &nbsp;&nbsp; 0 |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp; **$127102** | &nbsp;&nbsp; **$0** |

---

See accompanying notes to portfolio of investments

Allspring Income Plus Fund \| 21

------

Notes to portfolio of investments—June 30, 2025 (unaudited)

Notes to portfolio of investments

Securities valuation

All investments are valued each business day as of the close of regular trading on the New York Stock Exchange (generally 4 p.m. Eastern Time), although the Fund may deviate from this calculation time under unusual or unexpected circumstances.

Debt securities are valued at the evaluated bid price provided by an independent pricing service (e.g., taking into account various factors, including yields, maturities, or credit ratings) or, if a reliable price is not available, the quoted bid price from an independent broker-dealer.

Equity securities, exchange-traded funds and futures contracts that are listed on a foreign or domestic exchange or market are valued at the official closing price or, if none, the last sales price.

The values of securities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee at Allspring Funds Management, LLC ("Allspring Funds Management").

Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange and therefore may not fully reflect trading or events that occur after the close of the principal exchange in which the foreign securities are traded, but before the close of the New York Stock Exchange. If such trading or events are expected to materially affect the value of such securities, then fair value pricing procedures implemented by Allspring Funds Management are applied. These procedures take into account multiple factors including movements in U.S. securities markets after foreign exchanges close. Foreign securities that are fair valued under these procedures are categorized as Level 2 and the application of these procedures may result in transfers between Level 1 and Level 2. Depending on market activity, such fair valuations may be frequent. Such fair value pricing may result in net asset values that are higher or lower than net asset values based on the last reported sales price or latest quoted bid price. On June 30, 2025, such fair value pricing was not used in pricing foreign securities.

Forward foreign currency contracts are recorded at the forward rate provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee at Allspring Funds Management.

Swap contracts are valued at the evaluated price provided by an independent pricing service or, if a reliable price is not available, the quoted bid price from an independent broker-dealer.

Investments in registered open-end investment companies (other than those listed on a foreign or domestic exchange or market) are valued at net asset value.

Investments which are not valued using the methods discussed above are valued at their fair value, as determined in good faith by Allspring Funds Management, which was named the valuation designee by the Board of Trustees. As the valuation designee, Allspring Funds Management is responsible for day-to-day valuation activities for the Allspring Funds. In connection with these responsibilities, Allspring Funds Management has established a Valuation Committee and has delegated to it the authority to take any actions regarding the valuation of portfolio securities that the Valuation Committee deems necessary or appropriate, including determining the fair value of portfolio securities. On a quarterly basis, the Board of Trustees receives reports of valuation actions taken by the Valuation Committee. On at least an annual basis, the Board of Trustees receives an assessment of the adequacy and effectiveness of Allspring Funds Management's process for determining the fair value of the portfolio of investments.

Foreign currency translation

The accounting records of the Fund are maintained in U.S. dollars. The values of other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at rates provided by an independent foreign currency pricing source at a time each business day specified by the Valuation Committee. Purchases and sales of securities, and income and expenses are converted at the rate of exchange on the respective dates of such transactions. Net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the U.S. dollar equivalent of the amounts actually paid or received. Net unrealized foreign exchange gains and losses arise from changes in the fair value of assets and liabilities other than investments in securities resulting from changes in exchange rates. The changes in net assets arising from changes in exchange rates of securities and the changes in net assets resulting from changes in market prices of securities are not separately presented. Such changes are included in net realized and unrealized gains or losses from investments.

When-issued transactions

The Fund may purchase securities on a forward commitment or when-issued basis. The Fund records a when-issued transaction on the trade date and will segregate assets in an amount at least equal in value to the Fund's commitment to purchase when-issued securities. Securities purchased on a when-issued basis are marked-to-market daily and the Fund begins earning interest on the settlement date. Losses may arise due to changes in the market value of the underlying securities or if the counterparty does not perform under the contract.

Loans

The Fund may invest in direct debt instruments which are interests in amounts owed to lenders by corporate or other borrowers. The loans pay interest at rates which are periodically reset by reference to a base lending rate plus a spread. Investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties. When the Fund purchases participations, it generally has no rights to enforce compliance with

22 \| Allspring Income Plus Fund

------

Notes to portfolio of investments—June 30, 2025 (unaudited)

the terms of the loan agreement with the borrower. As a result, the Fund assumes the credit risk of both the borrower and the lender that is selling the participation. When the Fund purchases assignments from lenders, it acquires direct rights against the borrower on the loan and may enforce compliance by the borrower with the terms of the loan agreement. Loans may include fully funded term loans or unfunded loan commitments, which are contractual obligations for future funding. Unfunded loan commitments represent the remaining obligation of the Fund to the borrower. At any point in time, up to the maturity date of the issue, the borrower may demand the unfunded portion. Unfunded amounts, if any, are marked to market.

Forward foreign currency contracts

A forward foreign currency contract is an agreement between two parties to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund enters into forward foreign currency contracts to facilitate transactions in foreign-denominated securities and to attempt to minimize the risk to the Fund from adverse changes in the relationship between currencies. Forward foreign currency contracts are recorded at the forward rate and marked-to-market daily. When the contracts are closed, realized gains and losses arising from such transactions are recorded as realized gains or losses on forward foreign currency contracts. The Fund is subject to foreign currency risk and may be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. The Fund's maximum risk of loss from counterparty credit risk is the unrealized gains on the contracts. This risk may be mitigated if there is a master netting arrangement between the Fund and the counterparty.

Futures contracts

Futures contracts are agreements between the Fund and a counterparty to buy or sell a specific amount of a commodity, financial instrument or currency at a specified price and on a specified date. The Fund may buy and sell futures contracts in order to gain exposure to, or protect against, changes in interest rates and is subject to interest rate risk. The primary risks associated with the use of futures contracts are the imperfect correlation between changes in market values of securities held by the Fund and the prices of futures contracts, and the possibility of an illiquid market. Futures contracts are generally entered into on a regulated futures exchange and cleared through a clearinghouse associated with the exchange. With futures contracts, there is minimal counterparty risk to the Fund since futures contracts are exchange-traded and the exchange's clearinghouse, as the counterparty to all exchange-traded futures, guarantees the futures contracts against default.

Upon entering into a futures contract, the Fund is required to deposit either cash or securities (initial margin) with the broker in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are paid to or received from the broker each day equal to the daily changes in the contract value. Such payments are recorded as unrealized gains or losses and, if any, shown as variation margin receivable (payable). Should the Fund fail to make requested variation margin payments, the broker can gain access to the initial margin to satisfy the Fund's payment obligations. When the contracts are closed, a realized gain or loss is recorded.

Swap contracts

Swap contracts are agreements between the Fund and a counterparty to exchange a series of cash flows over a specified period. Swap agreements are privately negotiated contracts between the Fund that are entered into as bilateral contracts in the over-the-counter market or centrally cleared ("centrally cleared swaps") with a central clearinghouse.

The Fund entered into centrally cleared swaps. In a centrally cleared swap, immediately following execution of the swap contract, the swap contract is novated to a central counterparty (the "CCP") and the Fund's counterparty on the swap agreement becomes the CCP. Upon entering into a centrally cleared swap, the Fund is required to deposit an initial margin with the broker in the form of cash or securities. Securities deposited as initial margin are designated in the Portfolio of investments. Pursuant to the contract, the Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract ("variation margin"). The variation margin is recorded as an unrealized gain (or loss) on centrally cleared swaps. Payments received from (paid to) the counterparty are recorded as realized gains (losses) when the contract is closed.

***Credit default swaps*** <br>The Fund may enter into credit default swaps for hedging or speculative purposes to provide or receive a measure of protection against default on a referenced entity, obligation or index or a basket of single-name issuers or traded indexes. An index credit default swap references all the names in the index, and if a credit event is triggered, the credit event is settled based on that name's weight in the index. Credit default swaps are agreements in which the protection buyer pays fixed periodic payments to the protection seller in consideration for a promise from the protection seller to make a specific payment should a negative credit event take place with respect to the referenced entity (e.g., bankruptcy, failure to pay, obligation acceleration, repudiation, moratorium or restructuring).

The Fund may enter into credit default swaps as either the seller of protection or the buyer of protection. If the Fund is the buyer of protection and a credit event occurs, the Fund will either receive from the seller an amount equal to the notional amount of the swap and deliver the referenced security or underlying securities comprising the index, or receive a net settlement of cash equal to the notional amount of the swap less the recovery value of the security or underlying securities comprising the index. If the Fund is the seller of protection and a credit event occurs, the Fund will either pay the buyer an amount equal to the notional amount of the swap and take delivery of the referenced security or underlying securities comprising the index or pay a net settlement of cash equal to the notional amount of the swap less the recovery value of the security or underlying securities comprising the index.

Allspring Income Plus Fund \| 23

------

Notes to portfolio of investments—June 30, 2025 (unaudited)

As the seller of protection, the Fund is subject to investment exposure on the notional amount of the swap and has assumed the risk of default of the underlying security or index. As the buyer of protection, the Fund could be exposed to risks if the seller of the protection defaults on its obligation to perform, or if there are unfavorable changes in the fluctuation of interest rates.

By entering into credit default swap contracts, the Fund is exposed to credit risk. In addition, certain credit default swap contracts entered into by the Fund provide for conditions that result in events of default or termination that enable the counterparty to the agreement to cause an early termination of the transactions under those agreements.

Mortgage dollar roll transactions

The Fund may engage in mortgage dollar roll transactions through To Be Announced (TBA) mortgage-backed securities issued by Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). In a mortgage dollar roll transaction, the Fund sells a mortgage-backed security to a financial institution, such as a bank or broker-dealer and simultaneously agrees to repurchase a substantially similar security from the institution at a later date at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different pre-payment histories. During the roll period, the Fund foregoes principal and interest paid on the securities. The Fund is compensated by the difference between the current sales price and the forward price for the future purchase as well as by the earnings on the cash proceeds of the initial sale. Mortgage dollar rolls may be renewed without physical delivery of the securities subject to the contract. The Fund accounts for TBA dollar roll transactions as purchases and sales which, as a result, may increase its portfolio turnover rate.

Fair valuation measurements

Fair value measurements of investments are determined within a framework that has established a fair value hierarchy based upon the various data inputs utilized in determining the value of the Fund's investments. The three-level hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The Fund's investments are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement. The inputs are summarized into three broad levels as follows:

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

The inputs or methodologies used for valuing investments in securities are not necessarily an indication of the risk associated with investing in those securities.

24 \| Allspring Income Plus Fund

------

Notes to portfolio of investments—June 30, 2025 (unaudited)

The following is a summary of the inputs used in valuing the Fund's assets and liabilities as of June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; Quoted prices <br>(Level 1)<br>| &nbsp;&nbsp;&nbsp; Other significant <br>observable inputs <br>(Level 2)<br>| &nbsp;&nbsp;&nbsp; Significant <br>unobservable inputs <br>(Level 3)<br>| Total |
| **Assets** |  |  |  |  |
| **Investments in:** |  |  |  |  |
| **Agency securities** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $65921089 | &nbsp;&nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $65921089 |
| **Asset-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 16555013 | &nbsp;&nbsp;&nbsp;&nbsp; 198630 | &nbsp;&nbsp;&nbsp;&nbsp; 16753643 |
| **Common stocks** |  |  |  |  |
| *Consumer staples* | &nbsp;&nbsp; 630 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 630 |
| *Energy* | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 316194 | &nbsp;&nbsp;&nbsp;&nbsp; 316194 |
| *Financials* | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 45991200 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 45991200 |
| **Foreign corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 24590285 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 24590285 |
| **Foreign government bonds** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 17409271 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 17409271 |
| **Investment companies** | &nbsp;&nbsp; 1663501 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 1663501 |
| **Loans** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 2057660 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 2057660 |
| **Municipal obligations** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 30447 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 30447 |
| **Non-agency mortgage-backed securities** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 6299318 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 6299318 |
| **U.S. Treasury securities** | &nbsp;&nbsp; 34271944 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 34271944 |
| **Warrants** |  |  |  |  |
| *Consumer staples* | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp;&nbsp; 76 |
| **Yankee corporate bonds and notes** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 19706390 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 19706390 |
| **Yankee government bonds** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 4182484 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 4182484 |
| **Short-term investments** |  |  |  |  |
| *Investment companies* | &nbsp;&nbsp; 2924351 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 2924351 |
| *U.S. Treasury securities* | &nbsp;&nbsp; 5993713 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 5993713 |
|  | &nbsp;&nbsp; 44854139 | &nbsp;&nbsp;&nbsp;&nbsp; 202743157 | &nbsp;&nbsp;&nbsp;&nbsp; 514900 | &nbsp;&nbsp;&nbsp;&nbsp; 248112196 |
| **Forward foreign currency contracts** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 29182 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 29182 |
| **Futures contracts** | &nbsp;&nbsp; 281703 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 281703 |
| **Swap contracts** | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 127102 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 127102 |
| **Total assets** | &nbsp;&nbsp; **$45135842** | &nbsp;&nbsp;&nbsp; **$202899441** | &nbsp;&nbsp;&nbsp; **$514900** | &nbsp;&nbsp;&nbsp; **$248550183** |
| **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** |
| **Forward foreign currency contracts** | &nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $834952 | &nbsp;&nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp;&nbsp; $834952 |
| **Futures contracts** | &nbsp;&nbsp; 256699 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 256699 |
| **Total liabilities** | &nbsp;&nbsp; **$256699** | &nbsp;&nbsp;&nbsp; **$834952** | &nbsp;&nbsp;&nbsp; **$0** | &nbsp;&nbsp;&nbsp; **$1091651** |

---

Futures contracts, forward foreign currency contracts and swap contracts are reported at their cumulative unrealized gains (losses) at measurement date as reported in the tables following the Portfolio of investments. All other assets and liabilities are reported at their market value at measurement date.

Additional sector, industry or geographic detail, if any, is included in the Portfolio of investments.

As of June 30, 2025, $1,459,000 was segregated as cash collateral for these open futures contracts and $156,913 was segregated as cash collateral for swap contracts. The Fund also had $2,300,000 segregated as cash collateral for open forward foreign currency contracts.

At June 30, 2025, the Fund had no material transfers into/out of Level 3.

Allspring Income Plus Fund \| 25

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ALLSPRING FUNDS TRUST

- **b. Investment Company Act file number:** 811-09253

- **c. CIK number of Registrant:** 0001081400

- **d. LEI of Registrant:** 549300XROIY0CTN7RZ24

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

  - **Street Address 1:** 1415 Vantage Park Drive

  - **City:** Charlotte

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 28203

  - **Telephone number:** 833-568-4255

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

- **a. Name of Series:** Allspring Income Plus Fund

- **b. EDGAR series identifier (if any):** S000039677

- **c. LEI of Series:** 549300I50X4BVRPXJM50

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $264565220.38

**Total Liabilities:** $72023038.77

**Net Assets:** $192542181.61

**Delayed Delivery Securities:** $519596.50

**Cash Not Reported:** $3665429.94

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -105.96000000 | **1-Year:** -3110.58000000 | **5-Year:** -12643.47000000 | **10-Year:** -14129.38000000 | **30-Year:** -6567.60000000

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

- **3-Month:** -230.56000000 | **1-Year:** -4543.21000000 | **5-Year:** -9854.60000000 | **10-Year:** -4462.64000000 | **30-Year:** -2790.74000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000122975 | -0.31%               | 0.56%                | 1.47%                |
| Class ID C000122978 | -0.38%               | 0.49%                | 1.42%                |
| Class ID C000122977 | -0.32%               | 0.57%                | 1.48%                |
| Class ID C000122976 | -0.18%               | 0.48%                | 1.51%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-869891.54              | $1386681.14                                |
| Month 2  | $-196579.77              | $239133.46                                 |
| Month 3  | $158888.94               | $3011198.40                                |

**Designated Index Information**

- **Index Name:** Bloomberg U.S. Aggregate Index

- **Index Identifier:** agg_returns

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| JPMORGAN CHASE & CO                               | JPMorgan Chase & Co                                                                                                          | CUSIP: 46647PES1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |      275000 | PA      | $275612.30    | 0.14%             | 2045-11-29      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| AFRICAN EXPORT-IMPORT BA                          | African Export-Import Bank/The                                                                                               | CUSIP: 00831TAC5<br>LEI: 21380068LJCDYA42GJ76 | Long             | DBT              | NUSS              | XX        |      260000 | PA      | $224546.35    | 0.12%             | 2031-05-17      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                     | Boeing Co/The                                                                                                                | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |      535000 | PA      | $585673.00    | 0.30%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust                          | Octane Receivables Trust 2023-1                                                                                              | CUSIP: 67571BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       25634 | PA      | $25688.97     | 0.01%             | 2029-05-21      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                               | Braskem Netherlands Finance BV                                                                                               | CUSIP: 10554TAG0<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |      400000 | PA      | $316886.40    | 0.16%             | 2033-02-13      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TELUS CORP                                        | TELUS Corp                                                                                                                   | CUSIP: 87971MCM3<br>LEI: L2TEUTQ8OSHMJWVLCE40 | Long             | DBT              | CORP              | CA        |      180000 | PA      | $181204.39    | 0.09%             | 2055-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                          | Antero Midstream Partners LP / Antero Midstream Finance Corp                                                                 | CUSIP: 03690AAK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      135000 | PA      | $139434.75    | 0.07%             | 2032-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Transurban Finance Co. Pty. Ltd.                  | Transurban Finance Co. Pty. Ltd.                                                                                             | CUSIP: 000000000<br>LEI: 54930081LPJMUMEA6E57 | Long             | DBT              | CORP              | AU        |      100000 | PA      | $123210.19    | 0.06%             | 2033-04-26      | Fixed         | 4.23%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                            | Santander Holdings USA Inc                                                                                                   | CUSIP: 80282KBQ8<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |      190000 | PA      | $195044.45    | 0.10%             | 2031-03-20      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                          | Hilcorp Energy I LP / Hilcorp Finance Co                                                                                     | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      165000 | PA      | $159122.58    | 0.08%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Aqua Finance Trust                                | Aqua Finance Trust 2021-A                                                                                                    | CUSIP: 03842VAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      217244 | PA      | $199906.90    | 0.10%             | 2046-07-17      | Fixed         | 1.54%                 | No            |                  2 | On Loan: No      |
| RAIFFEISEN BANK INTL                              | Raiffeisen Bank International AG                                                                                             | CUSIP: 000000000<br>LEI: 9ZHRYM6F437SQJ6OUG95 | Long             | DBT              | CORP              | AT        |      400000 | PA      | $505717.30    | 0.26%             | 2032-12-20      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| VAR ENERGI ASA                                    | Var Energi ASA                                                                                                               | CUSIP: 000000000<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | NO        |      200000 | PA      | $258560.17    | 0.13%             | 2083-11-15      | Fixed         | 7.86%                 | Yes           |                  2 | On Loan: No      |
| DISH NETWORK CORP                                 | DISH Network Corp                                                                                                            | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |      205000 | PA      | $211319.33    | 0.11%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                            | Mitsubishi UFJ Financial Group Inc                                                                                           | CUSIP: 606822DL5<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |      420000 | PA      | $431892.03    | 0.22%             | 2036-04-24      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| EUSHI FINANCE INC                                 | EUSHI Finance Inc                                                                                                            | CUSIP: 29882DAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      210000 | PA      | $217394.31    | 0.11%             | 2054-12-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                          | PetSmart Inc / PetSmart Finance Corp                                                                                         | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      155000 | PA      | $150620.03    | 0.08%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                             | RIO TINTO FIN USA PLC                                                                                                        | CUSIP: 76720AAW6<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |      315000 | PA      | $316348.49    | 0.16%             | 2065-03-14      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                     | LGI Homes Inc                                                                                                                | CUSIP: 50187TAH9<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |       20000 | PA      | $20790.78     | 0.01%             | 2028-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                   | Long: SPJO0MA79 CDS EUR R F  5.00000 SPJO0MA79_FEE CCPITRAXX / Short: SPJO0MA79 CDS EUR P V 03MEVENT SPJO0MA79_PRO CCPITRAXX | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |      774536 | OU      | $81639.91     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                            | BP Capital Markets PLC                                                                                                       | CUSIP: 05565QDV7<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |      725000 | PA      | $717486.85    | 0.37%             | 2030-03-22      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LORCA TELECOM BONDCO                              | Lorca Telecom Bondco SA                                                                                                      | CUSIP: 000000000<br>LEI: 9598004HFBAS82YM7X35 | Long             | DBT              | CORP              | ES        |      400000 | PA      | $470792.90    | 0.24%             | 2027-09-18      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| MetLife Inc                                       | MetLife Inc                                                                                                                  | CUSIP: 59156RAP3<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |      410000 | PA      | $429339.35    | 0.22%             | 2036-12-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                           | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                                                                 | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      285000 | PA      | $279646.67    | 0.15%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | Barclays PLC                                                                                                                 | CUSIP: 06738ECZ6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |      625000 | PA      | $638804.89    | 0.33%             | 2036-02-25      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                               | Kinetik Holdings LP                                                                                                          | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |       40000 | PA      | $40339.20     | 0.02%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                       | PURCHASED JPY / SOLD USD                                                                                                     | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | JP        |           1 | NC      | $8551.03      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BANQUE OUEST AFRICAINE D                          | Banque Ouest Africaine de Developpement                                                                                      | CUSIP: 000000000<br>LEI: 529900LIZJABE4JJS826 | Long             | DBT              | NUSS              | XX        |      485000 | PA      | $477841.54    | 0.25%             | 2033-01-22      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| BORR IHC LTD / BORR FIN                           | Borr IHC Ltd / Borr Finance LLC                                                                                              | CUSIP: 100018AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      400610 | PA      | $365873.69    | 0.19%             | 2028-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                            | CCO Holdings LLC / CCO Holdings Capital Corp                                                                                 | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      655000 | PA      | $583072.49    | 0.30%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD BRL                                                                                                     | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |           1 | NC      | $-27006.38    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                           | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      350000 | PA      | $426469.38    | 0.22%             | 2033-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WEA FINANCE LLC/WESTFIEL                          | WEA Finance LLC / Westfield UK & Europe Finance PLC                                                                          | CUSIP: 92890HAD4<br>LEI: N/A                  | Long             | DBT              |  | US        |      230000 | PA      | $187098.07    | 0.10%             | 2044-09-17      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                          | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |       40000 | PA      | $39787.50     | 0.02%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  1 | On Loan: No      |
| UMBS, TBA                                         | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F062671<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    11515000 | PA      | $11888968.16  | 6.17%             | 2054-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LYB INT FINANCE III                               | LYB International Finance III LLC                                                                                            | CUSIP: 50249AAP8<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |      140000 | PA      | $145307.67    | 0.08%             | 2035-05-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENT/SIX FLAG                            | Six Flags Entertainment Corp /Six Flags Theme Parks Inc/ Canada's Wonderland Co                                              | CUSIP: 83002YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       25000 | PA      | $25785.87     | 0.01%             | 2032-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Provincia de Cordoba                              | Provincia de Cordoba                                                                                                         | CUSIP: 74408DAC8<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |       42413 | PA      | $42518.88     | 0.02%             | 2025-12-10      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| ALLSPRING GOVERNMENT MONEY MAR                    | ALLSPRING GOVERNMENT MONEY MAR                                                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |     2924351 | NS      | $2924351.44   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| NUCOR CORP                                        | Nucor Corp                                                                                                                   | CUSIP: 670346BA2<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | DBT              | CORP              | US        |      260000 | PA      | $260811.44    | 0.14%             | 2035-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp                                                                                                         | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      170000 | PA      | $176061.01    | 0.09%             | 2030-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| VISTA MANAGEMENT HOLDING INC                      | Vista Management Holding Inc 2025 Term Loan B                                                                                | CUSIP: 92842EAB4<br>LEI: 5299005VABKD28UWHI65 | Long             | LON              | CORP              | US        |       35000 | PA      | $35058.45     | 0.02%             | 2031-04-01      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC                                 | Brown & Brown Inc                                                                                                            | CUSIP: 115236AK7<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |      150000 | PA      | $151395.73    | 0.08%             | 2030-06-23      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                        | Verus Securitization Trust 2021-2                                                                                            | CUSIP: 92538FAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       60662 | PA      | $53834.70     | 0.03%             | 2066-02-25      | Variable      | 1.03%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                              | Las Vegas Sands Corp                                                                                                         | CUSIP: 517834AN7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |      380000 | PA      | $392035.79    | 0.20%             | 2030-06-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                           | United Rentals North America Inc                                                                                             | CUSIP: 911363AM1<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |       15000 | PA      | $14105.37     | 0.01%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| KOHL'S CORPORATION                                | Kohl's Corp                                                                                                                  | CUSIP: 500255AX2<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |      205000 | PA      | $147162.75    | 0.08%             | 2031-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2020-1 B PTT                           | United Airlines 2020-1 Class B Pass Through Trust                                                                            | CUSIP: 90932VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       68137 | PA      | $68042.16     | 0.04%             | 2026-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                       | PURCHASED USD / SOLD EUR                                                                                                     | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |           1 | NC      | $-663650.32   | -0.34%            |  |  |  | No            |                  2 | On Loan: No      |
| Achieve Mortgage                                  | ACHM Trust 2025-HE1                                                                                                          | CUSIP: 00449SAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      578371 | PA      | $584333.89    | 0.30%             | 2055-03-25      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| GENESEE & WYOMING INC                             | Genesee & Wyoming Inc                                                                                                        | CUSIP: 371559AB1<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | DBT              | CORP              | US        |       30000 | PA      | $30611.19     | 0.02%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN                          | CQP Holdco LP / BIP-V Chinook Holdco LLC                                                                                     | CUSIP: 12657NAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      188000 | PA      | $203996.54    | 0.11%             | 2033-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                       | PURCHASED JPY / SOLD USD                                                                                                     | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | JP        |           1 | NC      | $1496.45      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                          | Rogers Communications Inc                                                                                                    | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |      475000 | PA      | $481461.69    | 0.25%             | 2055-04-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| TUI CRUISES GMBH                                  | TUI Cruises GmbH                                                                                                             | CUSIP: 000000000<br>LEI: 529900SVD83QUUIZYY18 | Long             | DBT              | CORP              | DE        |      214000 | PA      | $253512.14    | 0.13%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                        | DaVita Inc                                                                                                                   | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |      280000 | PA      | $290130.40    | 0.15%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                                                                           | CUSIP: 29273VAX8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |       70000 | PA      | $74471.88     | 0.04%             | 2054-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| RADIOLOGY PARTNERS INC                            | Radiology Partners Inc                                                                                                       | CUSIP: 75041VAE4<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |      200000 | PA      | $200466.00    | 0.10%             | 2032-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ESC GCB144A ENVIVA PAR                            | ESC GCB144A ENVIVA PAR                                                                                                       | CUSIP: 294ESCAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      400000 | PA      | $0.00         | 0.00%             | 2026-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     6180000 | PA      | $6189656.25   | 3.21%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  1 | On Loan: No      |
| ENTEGRIS INC                                      | Entegris Inc                                                                                                                 | CUSIP: 29365BAB9<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |       35000 | PA      | $35556.29     | 0.02%             | 2030-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| WINTERSHALL DEA FIN 2BV                           | Wintershall Dea Finance 2 BV                                                                                                 | CUSIP: 000000000<br>LEI: 529900DV88FUQZSVVL48 | Long             | DBT              | CORP              | NL        |      400000 | PA      | $442398.68    | 0.23%             | 2028-07-20      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                            | WESCO Distribution Inc                                                                                                       | CUSIP: 95081QAR5<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |       55000 | PA      | $57154.35     | 0.03%             | 2032-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                  | Deutsche Bank AG                                                                                                             | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |      200000 | PA      | $251275.01    | 0.13%             | 2030-09-05      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| First Brands Group LLC                            | First Brands Group LLC 2021 Term Loan                                                                                        | CUSIP: 31935HAD9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      181539 | PA      | $171202.29    | 0.09%             | 2027-03-30      | Floating      | 9.54%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                             | Quikrete Holdings Inc                                                                                                        | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |        5000 | PA      | $5141.60      | 0.00%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BANCO NACIONAL COM EXT                            | Banco Nacional de Comercio Exterior SNC/Cayman Islands                                                                       | CUSIP: 05973JAA8<br>LEI: 4469000001BL6VG3DH44 | Long             | DBT              | CORP              | MX        |      385000 | PA      | $364323.31    | 0.19%             | 2031-08-11      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                             | Foundry JV Holdco LLC                                                                                                        | CUSIP: 350930AA1<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |      260000 | PA      | $264193.28    | 0.14%             | 2034-01-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CNG2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     1005000 | PA      | $1014735.94   | 0.53%             | 2030-05-31      | Fixed         | 4.00%                 | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORP                                  | Duke Energy Corp                                                                                                             | CUSIP: 000000000<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |      200000 | PA      | $237220.10    | 0.12%             | 2028-06-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| SMBC AVIATION CAPITAL FI                          | SMBC Aviation Capital Finance DAC                                                                                            | CUSIP: 78448TAH5<br>LEI: 549300OD7VKRVNWB2J98 | Long             | DBT              | CORP              | IE        |      215000 | PA      | $219793.04    | 0.11%             | 2028-05-03      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                 | EURO-SCHATZ FUT SEP25                                                                                                        | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         -41 | NC      | $8867.14      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CommScope Inc                                     | CommScope Inc 2024 Term Loan                                                                                                 | CUSIP: 000000000<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | LON              | CORP              | US        |      150000 | PA      | $151641.00    | 0.08%             | 2029-12-17      | Floating      | 9.58%                 | No            |                  2 | On Loan: No      |
| TDC NET AS                                        | TDC Net A/S                                                                                                                  | CUSIP: 000000000<br>LEI: 549300SH2G3R15Y3FX20 | Long             | DBT              | CORP              | DK        |      400000 | PA      | $501194.44    | 0.26%             | 2030-02-06      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| EPR PROPERTIES                                    | EPR Properties                                                                                                               | CUSIP: 26884UAF6<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              |  | US        |      175000 | PA      | $166628.41    | 0.09%             | 2029-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD BRL                                                                                                     | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |           1 | NC      | $-16034.22    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                  | CSC Holdings LLC                                                                                                             | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |      170000 | PA      | $162306.92    | 0.08%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                          | Charter Communications Operating LLC / Charter Communications Operating Capital                                              | CUSIP: 161175CQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      285000 | PA      | $298379.09    | 0.15%             | 2029-06-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                    | 1261229 BC Ltd                                                                                                               | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |      585000 | PA      | $590130.43    | 0.31%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| PG&E CORP                                         | PG&E Corp                                                                                                                    | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |       40000 | PA      | $38105.70     | 0.02%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Jimmy John's Funding LLC                          | Jimmy Johns Funding LLC                                                                                                      | CUSIP: 47760QAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      230088 | PA      | $227928.31    | 0.12%             | 2047-07-30      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| VERISURE HOLDING AB                               | Verisure Holding AB                                                                                                          | CUSIP: 000000000<br>LEI: 549300VQQCWGISM3N408 | Long             | DBT              | CORP              | SE        |       28000 | PA      | $34370.43     | 0.02%             | 2027-10-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                            | US ULTRA BOND CBT SEP25                                                                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |          24 | NC      | $79519.30     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MICHAELS COS INC/THE                              | Michaels Cos Inc/The                                                                                                         | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |      215000 | PA      | $140825.00    | 0.07%             | 2029-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                    | Sabre GLBL Inc                                                                                                               | CUSIP: 78573NAL6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |      484000 | PA      | $497332.29    | 0.26%             | 2029-11-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | Barclays PLC                                                                                                                 | CUSIP: 06738ECY9<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |      260000 | PA      | $265586.50    | 0.14%             | 2031-02-25      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                 | NatWest Group PLC                                                                                                            | CUSIP: 780097BQ3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |      315000 | PA      | $314482.55    | 0.16%             | 2025-12-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                         | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F052672<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     4385000 | PA      | $4383996.80   | 2.28%             | 2054-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Universal Music Group NV                          | Universal Music Group NV                                                                                                     | CUSIP: 000000000<br>LEI: 724500GJBUL3D9TW9Y18 | Long             | DBT              | CORP              | NL        |      420000 | PA      | $515596.58    | 0.27%             | 2031-06-13      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                          | Cheniere Energy Partners LP                                                                                                  | CUSIP: 16411QAV3<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |      150000 | PA      | $151179.32    | 0.08%             | 2035-10-30      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                                                                        | CUSIP: 25714PET1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |      235000 | PA      | $246209.50    | 0.13%             | 2031-02-03      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| JACKSON FINANCIAL INC                             | Jackson Financial Inc                                                                                                        | CUSIP: 46817MAN7<br>LEI: 213800WXW2KG1N4CO374 | Long             | DBT              | CORP              | US        |      320000 | PA      | $217253.20    | 0.11%             | 2051-11-23      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                            | Clydesdale Acquisition Holdings Inc                                                                                          | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |      500000 | PA      | $511412.00    | 0.27%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| AKER BP ASA                                       | Aker BP ASA                                                                                                                  | CUSIP: 00973RAN3<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |      215000 | PA      | $206427.43    | 0.11%             | 2034-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                      | Comcast Corp                                                                                                                 | CUSIP: 20030NEQ0<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |       90000 | PA      | $91899.19     | 0.05%             | 2055-05-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| HASBRO INC                                        | Hasbro Inc                                                                                                                   | CUSIP: 418056BA4<br>LEI: 549300NUB6D2R1ITYR45 | Long             | DBT              | CORP              | US        |      280000 | PA      | $288763.24    | 0.15%             | 2034-05-14      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER HLDGS CORP                           | Schlumberger Holdings Corp                                                                                                   | CUSIP: 806851AP6<br>LEI: 529900IKZG65COT1D505 | Long             | DBT              | CORP              | US        |      210000 | PA      | $206278.65    | 0.11%             | 2033-05-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                                     | Aircastle Ltd                                                                                                                | CUSIP: 00928QAY7<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |      185000 | PA      | $191117.46    | 0.10%             | 2029-02-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds           | Colombia Government International Bonds                                                                                      | CUSIP: 195325EL5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |      295000 | PA      | $296265.55    | 0.15%             | 2035-11-14      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Casino Guichard Perrachon SA                      | Casino Guichard Perrachon SA                                                                                                 | CUSIP: 000000000<br>LEI: 969500VHL8F83GBL6L29 | N/A              | DE               |  | FR        |      128399 | NS      | $75.62        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BROADSTREET PARTNERS INC                          | BroadStreet Partners Inc                                                                                                     | CUSIP: 11135RAA3<br>LEI: 549300BS9N54G8DD0R75 | Long             | DBT              | CORP              | US        |      325000 | PA      | $321184.34    | 0.17%             | 2029-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AXA SA                                            | AXA SA                                                                                                                       | CUSIP: 000000000<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | DBT              | CORP              | FR        |      400000 | PA      | $488292.94    | 0.25%             | 2033-01-10      | Fixed         | 3.63%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bills                                                                                                          | CUSIP: 912797LW5<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |     6000000 | PA      | $5993712.48   | 3.11%             | 2025-07-10      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| Achieve Mortgage                                  | FREED Mortgage Trust 2022-HE1                                                                                                | CUSIP: 35634KAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      281345 | PA      | $286126.33    | 0.15%             | 2037-10-25      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                             | Tenet Healthcare Corp                                                                                                        | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |       25000 | PA      | $25864.73     | 0.01%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                          | Warnermedia Holdings Inc                                                                                                     | CUSIP: 55903VBE2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |      525000 | PA      | $366187.50    | 0.19%             | 2052-03-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD ZAR                                                                                                     | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |           1 | NC      | $-3360.05     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                             | Micron Technology Inc                                                                                                        | CUSIP: 595112CH4<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |      445000 | PA      | $465721.25    | 0.24%             | 2035-11-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Koninklijke KPN NV                                | Koninklijke KPN NV                                                                                                           | CUSIP: 000000000<br>LEI: 549300YO0JZHAL7FVP81 | Long             | DBT              | CORP              | NL        |      300000 | PA      | $366755.06    | 0.19%             | 2031-07-03      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| ENVIVA EQUITY                                     | ENVIVA EQUITY                                                                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       16752 | NS      | $316194.00    | 0.16%             |  |  |  | No            |                  3 | On Loan: No      |
| IVORY COAST                                       | Ivory Coast Government International Bond                                                                                    | CUSIP: 221625AU0<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |      300000 | PA      | $288962.74    | 0.15%             | 2037-01-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                          | PetSmart Inc / PetSmart Finance Corp                                                                                         | CUSIP: 71677KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      155000 | PA      | $151148.15    | 0.08%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S                                   | Danske Bank A/S                                                                                                              | CUSIP: 23636ABC4<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |      830000 | PA      | $827058.42    | 0.43%             | 2028-04-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                          | CUSIP: 912810UF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      195000 | PA      | $190886.72    | 0.10%             | 2044-11-15      | Fixed         | 4.63%                 | No            |                  1 | On Loan: No      |
| RAIFFEISEN BANK INTL                              | Raiffeisen Bank International AG                                                                                             | CUSIP: 000000000<br>LEI: 9ZHRYM6F437SQJ6OUG95 | Long             | DBT              | CORP              | AT        |      200000 | PA      | $221328.92    | 0.11%             | 2033-06-17      | Fixed         | 1.38%                 | Yes           |                  2 | On Loan: No      |
| Bojangles Issuer, LLC                             | Bojangles Issuer LLC                                                                                                         | CUSIP: 09748RAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      700000 | PA      | $713582.24    | 0.37%             | 2054-11-20      | Fixed         | 6.58%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                           | Sensata Technologies BV                                                                                                      | CUSIP: 81725WAL7<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |       25000 | PA      | $25033.65     | 0.01%             | 2030-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LYB INT FINANCE III                               | LYB International Finance III LLC                                                                                            | CUSIP: 50249AAM5<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |      325000 | PA      | $324388.75    | 0.17%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                         | PG&E Corp                                                                                                                    | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |      550000 | PA      | $520861.08    | 0.27%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| NOVA ALEXANDRE III SAS                            | Nova Alexandre III SAS                                                                                                       | CUSIP: 000000000<br>LEI: 969500J0AKOB1UHO6I65 | Long             | DBT              | CORP              | FR        |      160000 | PA      | $190833.21    | 0.10%             | 2029-07-15      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| OEG FINANCE PLC                                   | OEG Finance PLC                                                                                                              | CUSIP: 000000000<br>LEI: 254900KMBHWF9UK63G44 | Long             | DBT              | CORP              | GB        |      400000 | PA      | $492205.88    | 0.26%             | 2029-09-27      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                            | Cloud Software Group Inc                                                                                                     | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |      430000 | PA      | $457618.47    | 0.24%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| NORTHWESTERN MUTUAL LIFE                          | Northwestern Mutual Life Insurance Co/The                                                                                    | CUSIP: 668138AF7<br>LEI: 1DU7IM20QESYGDO4HO54 | Long             | DBT              | CORP              | US        |      280000 | PA      | $292392.32    | 0.15%             | 2055-05-29      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                      | AES Corp/The                                                                                                                 | CUSIP: 00130HCK9<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |       30000 | PA      | $30888.00     | 0.02%             | 2055-01-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| Casino Guichard Perrachon SA                      | Casino Guichard Perrachon SA                                                                                                 | CUSIP: 000000000<br>LEI: 969500VHL8F83GBL6L29 | Long             | EC               | CORP              | FR        |        1285 | NS      | $629.99       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| OMNIS FUNDING TRUST                               | Omnis Funding Trust                                                                                                          | CUSIP: 68218WAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      455000 | PA      | $471505.20    | 0.24%             | 2055-05-15      | Fixed         | 6.72%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                        | Intel Corp                                                                                                                   | CUSIP: 458140BJ8<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |       85000 | PA      | $53835.03     | 0.03%             | 2049-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| AFN ABSPROP001 Llc                                | AFN ABSPROP001 LLC 2019-1                                                                                                    | CUSIP: 00109BAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      685496 | PA      | $612948.62    | 0.32%             | 2049-05-20      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                     | TransDigm Inc                                                                                                                | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |       35000 | PA      | $36238.77     | 0.02%             | 2032-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS                            | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX                                                 | CUSIP: 05533UAG3<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |      300000 | PA      | $294820.62    | 0.15%             | 2034-09-13      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| EUROFINS SCIENTIFIC SE                            | Eurofins Scientific SE                                                                                                       | CUSIP: 000000000<br>LEI: 529900JEHFM47DYY3S57 | Long             | DBT              | CORP              | LU        |      475000 | PA      | $597269.43    | 0.31%             | 2028-04-24      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Panama Government International Bonds             | Panama Government International Bonds                                                                                        | CUSIP: 698299BS2<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |      765000 | PA      | $491413.14    | 0.26%             | 2063-01-19      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CMP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    13480000 | PA      | $13550032.78  | 7.04%             | 2027-02-28      | Fixed         | 4.13%                 | No            |                  1 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                             | Foundry JV Holdco LLC                                                                                                        | CUSIP: 350930AJ2<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |      350000 | PA      | $364310.19    | 0.19%             | 2037-01-25      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Uniti Fiber ABS Issuer LLC                        | Uniti Fiber Abs Issuer Llc                                                                                                   | CUSIP: 91326EAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1000000 | PA      | $1022429.50   | 0.53%             | 2055-04-20      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                       | PURCHASED USD / SOLD GBP                                                                                                     | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |           1 | NC      | $162.45       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PRA GROUP INC                                     | PRA Group Inc                                                                                                                | CUSIP: 69354NAD8<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |      185000 | PA      | $170494.37    | 0.09%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                          | United Wholesale Mortgage LLC                                                                                                | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |       35000 | PA      | $33972.93     | 0.02%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ICELAND BONDCO PLC                                | Iceland Bondco PLC                                                                                                           | CUSIP: 000000000<br>LEI: 2138002DRBYIA8QXHO36 | Long             | DBT              | CORP              | GB        |      400000 | PA      | $510309.97    | 0.27%             | 2028-05-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                            | UnitedHealth Group Inc                                                                                                       | CUSIP: 91324PFR8<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |       25000 | PA      | $25389.31     | 0.01%             | 2055-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS                          | Brandywine Operating Partnership LP                                                                                          | CUSIP: 105340AR4<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              |  | US        |      415000 | PA      | $444951.80    | 0.23%             | 2028-03-15      | Fixed         | 8.30%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                        | Intel Corp                                                                                                                   | CUSIP: 458140BV1<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |      250000 | PA      | $168006.97    | 0.09%             | 2041-08-12      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                          | Republic of South Africa Government Bond                                                                                     | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    25005000 | PA      | $1389013.76   | 0.72%             | 2030-01-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                | Credit Agricole SA                                                                                                           | CUSIP: 225313AJ4<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |      215000 | PA      | $217687.50    | 0.11%             | 2025-12-23      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| BAWAG GROUP AG                                    | BAWAG Group AG                                                                                                               | CUSIP: 000000000<br>LEI: 529900S9YO2JHTIIDG38 | Long             | DBT              | CORP              | AT        |      200000 | PA      | $245336.49    | 0.13%             | 2029-09-18      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ESSENTIAL PROPER                                  | Essential Properties LP                                                                                                      | CUSIP: 29670VAA7<br>LEI: 254900XX9FNFCDE1NX02 | Long             | DBT              |  | US        |      240000 | PA      | $213434.23    | 0.11%             | 2031-07-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITE                          | Perrigo Finance Unlimited Co                                                                                                 | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |       35000 | PA      | $35335.69     | 0.02%             | 2032-09-30      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                                        | Mattel Inc                                                                                                                   | CUSIP: 577081BD3<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |      245000 | PA      | $245593.64    | 0.13%             | 2027-12-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                        | US Bancorp                                                                                                                   | CUSIP: 91159HJR2<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |      435000 | PA      | $451606.45    | 0.23%             | 2035-01-23      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds             | Mexico Government International Bonds                                                                                        | CUSIP: 91087BAV2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |      510000 | PA      | $520888.50    | 0.27%             | 2035-02-09      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                       | Asurion LLC 2021 2nd Lien Term Loan B3                                                                                       | CUSIP: 04649VAZ3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |      215000 | PA      | $205056.25    | 0.11%             | 2028-01-31      | Floating      | 9.69%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                                 | Ares Capital Corp                                                                                                            | CUSIP: 04010LBK8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |      230000 | PA      | $229285.96    | 0.12%             | 2030-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Rocket Software Inc                               | Rocket Software Inc 2023 USD Term Loan B                                                                                     | CUSIP: 77313DAW1<br>LEI: 549300PVG26ISP5X1556 | Long             | LON              | CORP              | US        |       49151 | PA      | $49245.76     | 0.03%             | 2028-11-28      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| INSIGHT ENTERPRS                                  | Insight Enterprises Inc                                                                                                      | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |       25000 | PA      | $25753.40     | 0.01%             | 2032-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                            | Lumen Technologies Inc 2024 Extended Term Loan B2                                                                            | CUSIP: 55024EAG0<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |      100000 | PA      | $98641.00     | 0.05%             | 2030-04-15      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                                  | Lamar Media Corp                                                                                                             | CUSIP: 513075BT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       40000 | PA      | $38211.92     | 0.02%             | 2030-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                  | BAT Capital Corp                                                                                                             | CUSIP: 05526DCC7<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |      390000 | PA      | $396852.63    | 0.21%             | 2035-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Oglethorpe Power Corp                             | Oglethorpe Power Corp                                                                                                        | CUSIP: 677050AL0<br>LEI: 3EERXCUSWMS9GV5D9M98 | Long             | DBT              | CORP              | US        |      125000 | PA      | $96918.08     | 0.05%             | 2046-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                | Expand Energy Corp                                                                                                           | CUSIP: 845467AS8<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |      130000 | PA      | $130364.52    | 0.07%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| French Republic Government Bonds OAT              | French Republic Government Bonds OAT                                                                                         | CUSIP: 000000000<br>LEI: 969500KCGF3SUYJHPV70 | Long             | DBT              | NUSS              | FR        |     3495000 | PA      | $4120985.58   | 2.14%             | 2031-02-25      | Fixed         | 2.70%                 | Yes           |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                          | Avolon Holdings Funding Ltd                                                                                                  | CUSIP: 05401AAP6<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |      190000 | PA      | $180307.04    | 0.09%             | 2028-02-21      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                            | US 2YR NOTE (CBT) SEP25                                                                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |          82 | NC      | $75181.38     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CIMIC FINANCE USA PTY LT                          | CIMIC Finance USA Pty Ltd                                                                                                    | CUSIP: 171873AB8<br>LEI: 213800GNWSV32LXHCZ50 | Long             | DBT              | CORP              | AU        |       40000 | PA      | $42586.71     | 0.02%             | 2034-03-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                              | Las Vegas Sands Corp                                                                                                         | CUSIP: 517834AL1<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |      545000 | PA      | $556702.52    | 0.29%             | 2034-08-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                             | Level 3 Financing Inc                                                                                                        | CUSIP: 527298CD3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |      120000 | PA      | $108600.00    | 0.06%             | 2030-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ALMAVIVA THE ITALIAN INN                          | Almaviva-The Italian Innovation Co SpA                                                                                       | CUSIP: 000000000<br>LEI: 815600A862DA4DD9E211 | Long             | DBT              | CORP              | IT        |      213000 | PA      | $251847.42    | 0.13%             | 2030-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp                                                                                                         | CUSIP: 06051GMB2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      455000 | PA      | $454865.80    | 0.24%             | 2035-08-15      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                              | Cleveland-Cliffs Inc                                                                                                         | CUSIP: 185899AL5<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |       40000 | PA      | $34215.59     | 0.02%             | 2031-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| AMBER FINCO PLC                                   | Amber Finco PLC                                                                                                              | CUSIP: 000000000<br>LEI: 9845004C0870D380O790 | Long             | DBT              | CORP              | GB        |      280000 | PA      | $345097.13    | 0.18%             | 2029-07-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| KBC GROUP NV                                      | KBC Group NV                                                                                                                 | CUSIP: 000000000<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | DBT              | CORP              | BE        |      200000 | PA      | $260940.10    | 0.14%             | 2028-09-05      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| APA CORP                                          | APA Corp                                                                                                                     | CUSIP: 03743QAJ7<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |       93000 | PA      | $74391.77     | 0.04%             | 2042-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| STAR PARENT INC                                   | Star Parent Inc                                                                                                              | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |      400000 | PA      | $420727.52    | 0.22%             | 2030-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                          | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                                                                    | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |      575000 | PA      | $597533.92    | 0.31%             | 2055-03-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                          | Charter Communications Operating LLC / Charter Communications Operating Capital                                              | CUSIP: 161175CA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      170000 | PA      | $116672.67    | 0.06%             | 2052-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                       | Southern Co/The                                                                                                              | CUSIP: 842587DF1<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |       95000 | PA      | $94451.02     | 0.05%             | 2051-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Global Payments, Inc.                             | Global Payments, Inc.                                                                                                        | CUSIP: 37940XAS1<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |      595000 | PA      | $735854.58    | 0.38%             | 2031-03-17      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                        | AbbVie Inc                                                                                                                   | CUSIP: 00287YEB1<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |      265000 | PA      | $265094.30    | 0.14%             | 2055-03-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Jonah Energy LLC                                  | Jonah Energy Abs I LLC                                                                                                       | CUSIP: 47987EAC1<br>LEI: 2549003KXV9PPFRCPA79 | Long             | ABS-O            | CORP              | US        |      385818 | PA      | $387991.63    | 0.20%             | 2037-12-10      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Time Warner Cable LLC                             | Time Warner Cable LLC                                                                                                        | CUSIP: 88732JBB3<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |      215000 | PA      | $195492.70    | 0.10%             | 2041-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                                                                        | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |      150000 | PA      | $148500.00    | 0.08%             | 2028-09-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| US FOODS INC                                      | US Foods Inc                                                                                                                 | CUSIP: 90290MAJ0<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |       20000 | PA      | $19979.01     | 0.01%             | 2033-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEWS CORP                                         | News Corp                                                                                                                    | CUSIP: 65249BAB5<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |      310000 | PA      | $303365.41    | 0.16%             | 2032-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| APA INFRASTRUCTURE LTD                            | APA Infrastructure Ltd                                                                                                       | CUSIP: 000000000<br>LEI: 261700SS8OEHDOCOUJ33 | Long             | DBT              | CORP              | AU        |      595000 | PA      | $661415.35    | 0.34%             | 2030-07-15      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                          | Rockies Express Pipeline LLC                                                                                                 | CUSIP: 77340RAM9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |       90000 | PA      | $90156.87     | 0.05%             | 2040-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UNITED GROUP BV                                   | United Group BV                                                                                                              | CUSIP: 000000000<br>LEI: 213800PC85O8BJ7DU398 | Long             | DBT              | CORP              | NL        |      505000 | PA      | $601036.81    | 0.31%             | 2031-10-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MILEAGE PLUS HLDINGS LLC                          | Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd                                                    | CUSIP: 599191AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      158000 | PA      | $158207.30    | 0.08%             | 2027-06-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Starwood Commercial Mortgage Trust                | Starwood 2025-SIF5 LLC                                                                                                       | CUSIP: 85573WAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      875000 | PA      | $876914.50    | 0.46%             | 2037-04-15      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                          | Comision Federal de Electricidad                                                                                             | CUSIP: 200447AK6<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |      700000 | PA      | $595296.59    | 0.31%             | 2033-07-26      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ENGIE SA                                          | Engie SA                                                                                                                     | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | DBT              | CORP              | FR        |      300000 | PA      | $362421.37    | 0.19%             | 2031-03-06      | Fixed         | 3.63%                 | Yes           |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                                                                           | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      115000 | PA      | $115513.81    | 0.06%             | 2026-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH BANK AUST                            | Commonwealth Bank of Australia                                                                                               | CUSIP: 202712BX2<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |      415000 | PA      | $407507.32    | 0.21%             | 2046-03-14      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| Centersquare Issuer LLC                           | Centersquare Issuer LLC                                                                                                      | CUSIP: 15201EAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      780000 | PA      | $754303.68    | 0.39%             | 2055-03-26      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                               | JPMorgan Chase & Co                                                                                                          | CUSIP: 46647PDF0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |      305000 | PA      | $306343.82    | 0.16%             | 2030-06-14      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                               | Sirius XM Radio LLC                                                                                                          | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |       30000 | PA      | $28812.71     | 0.01%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Centersquare Issuer LLC                           | Centersquare Issuer LLC                                                                                                      | CUSIP: 15201EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1000000 | PA      | $981747.80    | 0.51%             | 2054-10-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC                                  | Arches Buyer Inc                                                                                                             | CUSIP: 039524AB9<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |      345000 | PA      | $317300.50    | 0.16%             | 2028-12-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CROWN FINANCE US INC                              | Crown Finance US Inc 2024 Term Loan B                                                                                        | CUSIP: 22834KAU5<br>LEI: 254900ABTWPQTCKKR839 | Long             | LON              | CORP              | US        |      492525 | PA      | $491909.34    | 0.26%             | 2031-12-02      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| Iron Mountain Inc                                 | Iron Mountain Inc                                                                                                            | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |       20000 | PA      | $19912.65     | 0.01%             | 2028-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                                                               | CUSIP: 61747YEL5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      750000 | PA      | $669370.61    | 0.35%             | 2033-01-21      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                          | Clear Channel Outdoor Holdings Inc                                                                                           | CUSIP: 18453HAE6<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |      185000 | PA      | $193847.24    | 0.10%             | 2028-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds             | Panama Government International Bonds                                                                                        | CUSIP: 698299BN3<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |      645000 | PA      | $491793.36    | 0.26%             | 2032-09-29      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                         | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F060675<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    11245000 | PA      | $11426301.34  | 5.93%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Hudsons Bay Simon JV Trust                        | Hudsons Bay Simon JV Trust 2015-HBS                                                                                          | CUSIP: 44422PBN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      535000 | PA      | $532401.40    | 0.28%             | 2034-08-05      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE CORDOBA                              | Provincia de Cordoba                                                                                                         | CUSIP: 74408DAE4<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |      332619 | PA      | $313493.41    | 0.16%             | 2029-02-01      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| BIOGEN INC                                        | Biogen Inc                                                                                                                   | CUSIP: 09062XAM5<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | DBT              | CORP              | US        |      180000 | PA      | $185366.59    | 0.10%             | 2055-05-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| MOTION FINCO SARL                                 | Motion Finco Sarl                                                                                                            | CUSIP: 000000000<br>LEI: 2549002L1LBQZKA7UN30 | Long             | DBT              | CORP              | LU        |      350000 | PA      | $386618.13    | 0.20%             | 2030-06-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                              | Cleveland-Cliffs Inc                                                                                                         | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |      560000 | PA      | $527890.33    | 0.27%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| American Greetings Corporation                    | American Greetings Corporation 2024 Term Loan B                                                                              | CUSIP: 02639DAN6<br>LEI: 549300WMJOT8C9DNMF90 | Long             | LON              | CORP              | US        |      154642 | PA      | $154514.05    | 0.08%             | 2029-10-30      | Floating      | 10.08%                | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUNDING                                | RGA Global Funding                                                                                                           | CUSIP: 76209PAF0<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |      355000 | PA      | $355771.44    | 0.18%             | 2031-12-06      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                          | Virgin Media Secured Finance PLC                                                                                             | CUSIP: 92769XAR6<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |       45000 | PA      | $41822.53     | 0.02%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ASPEN INSURANCE HLDG LTD                          | Aspen Insurance Holdings Ltd                                                                                                 | CUSIP: 04530DAE2<br>LEI: 549300YX6HECG9XQCQ75 | Long             | DBT              | CORP              | BM        |      130000 | PA      | $132148.58    | 0.07%             | 2030-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RENAISSANCERE HOLDINGS L                          | RenaissanceRe Holdings Ltd                                                                                                   | CUSIP: 75968NAG6<br>LEI: EK6GB9U3U58PDI411C94 | Long             | DBT              | CORP              | BM        |      445000 | PA      | $457204.31    | 0.24%             | 2035-04-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| SAKS GLOBAL ENTERPRISES                           | Saks Global Enterprises LLC                                                                                                  | CUSIP: 79380MAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      280000 | PA      | $105000.00    | 0.05%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| CAMELOT RETURN MERGER SU                          | Camelot Return Merger Sub Inc                                                                                                | CUSIP: 13323NAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      320000 | PA      | $295107.20    | 0.15%             | 2028-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                          | Lloyds Banking Group PLC                                                                                                     | CUSIP: 53944YAJ2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |      215000 | PA      | $216139.72    | 0.11%             | 2026-06-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                              | Indonesia Treasury Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 30500000000 | PA      | $1914045.94   | 0.99%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                          | Avolon Holdings Funding Ltd                                                                                                  | CUSIP: 05401AAV3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |      215000 | PA      | $221315.78    | 0.11%             | 2029-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                                 | Ares Capital Corp                                                                                                            | CUSIP: 04010LBB8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |      115000 | PA      | $108368.35    | 0.06%             | 2028-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CMV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      275000 | PA      | $275429.69    | 0.14%             | 2027-03-31      | Fixed         | 3.88%                 | No            |                  1 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                            | Cloud Software Group Inc                                                                                                     | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |      170000 | PA      | $176209.32    | 0.09%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Bankers Healthcare Group Securitization Trust     | BHG Securitization Trust 2021-A                                                                                              | CUSIP: 08861YAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       94865 | PA      | $93221.57     | 0.05%             | 2033-11-17      | Fixed         | 1.42%                 | No            |                  2 | On Loan: No      |
| Petco Health and Wellness Company Inc             | Petco Health and Wellness Company Inc 2021 Term Loan B                                                                       | CUSIP: 71601HAB2<br>LEI: 2549007TYGV6RVSE9M61 | Long             | LON              | CORP              | US        |      260000 | PA      | $238945.20    | 0.12%             | 2028-03-03      | Floating      | 7.81%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                            | Sempra                                                                                                                       | CUSIP: 816851BU2<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |      315000 | PA      | $304709.01    | 0.16%             | 2055-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                     | FirstCash Inc                                                                                                                | CUSIP: 33767DAD7<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |      365000 | PA      | $377699.45    | 0.20%             | 2032-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                  | Duke Energy Corp                                                                                                             | CUSIP: 000000000<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |      235000 | PA      | $274671.74    | 0.14%             | 2034-06-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Achieve Mortgage                                  | ACHM Trust 2023-HE2                                                                                                          | CUSIP: 00111NAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      312117 | PA      | $320090.93    | 0.17%             | 2038-10-25      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                | CHICAGO IL                                                                                                                   | CUSIP: 167486M71<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |       30000 | PA      | $30446.90     | 0.02%             | 2029-01-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                       | PURCHASED JPY / SOLD USD                                                                                                     | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | JP        |           1 | NC      | $13084.68     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| EVERGY INC                                        | Evergy Inc                                                                                                                   | CUSIP: 30034WAE6<br>LEI: 549300PGTHDQY6PSUI61 | Long             | DBT              | CORP              | US        |      110000 | PA      | $111675.76    | 0.06%             | 2055-06-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                          | Comision Federal de Electricidad                                                                                             | CUSIP: 200447AH3<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |      280000 | PA      | $246649.48    | 0.13%             | 2031-02-09      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                          | Banco Mercantil del Norte SA/Grand Cayman                                                                                    | CUSIP: 05971PAD0<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |      650000 | PA      | $658372.00    | 0.34%             | 2031-05-20      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds | Argentina Republic Government International Bonds                                                                            | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |      260000 | PA      | $174906.81    | 0.09%             | 2035-07-09      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| COMPUTERSHARE US INC                              | Computershare US Inc                                                                                                         | CUSIP: 000000000<br>LEI: 549300BXQ1PX3KGZRT72 | Long             | DBT              | CORP              | US        |      440000 | PA      | $453351.15    | 0.24%             | 2031-10-07      | Fixed         | 1.13%                 | Yes           |                  2 | On Loan: No      |
| Brean Asset Backed Securities Trust               | Brean Asset Backed Securities Trust 2021-RM2                                                                                 | CUSIP: 10638MAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      758314 | PA      | $728109.02    | 0.38%             | 2061-10-25      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| BALTIMORE GAS & ELECTRIC                          | Baltimore Gas and Electric Co                                                                                                | CUSIP: 059165ET3<br>LEI: 88V8C2WYSOD1SPSSLH72 | Long             | DBT              | CORP              | US        |      360000 | PA      | $368995.41    | 0.19%             | 2035-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| EPHIOS SUBCO SARL                                 | Ephios Subco 3 Sarl                                                                                                          | CUSIP: 000000000<br>LEI: 213800E4EG6VFUFVEH64 | Long             | DBT              | CORP              | LU        |      200000 | PA      | $253378.13    | 0.13%             | 2031-01-31      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| ESSENDI SA                                        | Essendi SA                                                                                                                   | CUSIP: 000000000<br>LEI: 2221000MD2YP7WLTNC52 | Long             | DBT              | CORP              | LU        |      415000 | PA      | $512666.48    | 0.27%             | 2029-10-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                           | CUSIP: 3618N5C64<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     2887811 | PA      | $2893365.22   | 1.50%             | 2054-12-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BRISTOW GROUP INC                                 | Bristow Group Inc                                                                                                            | CUSIP: 11040GAA1<br>LEI: 5493005Q24EN3UC1PV68 | Long             | DBT              | CORP              | US        |      190000 | PA      | $190951.33    | 0.10%             | 2028-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Directv Financing LLC                             | DirecTV Financing LLC Term Loan                                                                                              | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |       26051 | PA      | $26121.96     | 0.01%             | 2027-08-02      | Floating      | 9.54%                 | No            |                  2 | On Loan: No      |
| CONOCOPHILLIPS COMPANY                            | ConocoPhillips Co                                                                                                            | CUSIP: 20826FBM7<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |      380000 | PA      | $360551.19    | 0.19%             | 2055-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TOLL ROAD INV PART II                             | Toll Road Investors Partnership II LP                                                                                        | CUSIP: 88948ABC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      200000 | PA      | $180720.31    | 0.09%             | 2027-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ASIAN DEVELOPMENT BANK                            | Asian Development Bank                                                                                                       | CUSIP: 000000000<br>LEI: 549300X0MVH42CY8Q105 | Long             | DBT              | NUSS              | XX        |    18450000 | PA      | $214621.88    | 0.11%             | 2026-10-06      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                          | Vistra Operations Co LLC                                                                                                     | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |       40000 | PA      | $42513.74     | 0.02%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                   | Long: SPX003IX2 CDS USD R F  5.00000 SPX003IX2_FEE CCPCDX / Short: SPX003IX2 CDS USD P V 03MEVENT SPX003IX2_PRO CCPCDX       | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |     1720000 | OU      | $130856.95    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                             | Nabors Industries Inc                                                                                                        | CUSIP: 62957HAQ8<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |      155000 | PA      | $115135.23    | 0.06%             | 2031-08-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA SPA                                | Telecom Italia SpA/Milano                                                                                                    | CUSIP: 000000000<br>LEI: 549300W384M3RI3VXU42 | Long             | DBT              | CORP              | IT        |      200000 | PA      | $224069.77    | 0.12%             | 2029-01-18      | Fixed         | 1.63%                 | Yes           |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                             | Blue Owl Capital Corp                                                                                                        | CUSIP: 69121KAF1<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |      320000 | PA      | $309055.30    | 0.16%             | 2027-01-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                      | Entegris Inc                                                                                                                 | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |      115000 | PA      | $113724.71    | 0.06%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ACQUIROR LP                               | Prairie Acquiror LP                                                                                                          | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |      410000 | PA      | $427062.61    | 0.22%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                        | MFA 2021-NQM1 Trust                                                                                                          | CUSIP: 55283FAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       51721 | PA      | $48396.68     | 0.03%             | 2065-04-25      | Variable      | 1.15%                 | No            |                  2 | On Loan: No      |
| NN Group NV                                       | NN Group NV                                                                                                                  | CUSIP: 000000000<br>LEI: 724500OHYNDT9OY6Q215 | Long             | DBT              | CORP              | NL        |      205000 | PA      | $258359.81    | 0.13%             | 2043-03-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| PEDIATRIX MEDICAL GROUP                           | Pediatrix Medical Group Inc                                                                                                  | CUSIP: 58502BAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      125000 | PA      | $123574.18    | 0.06%             | 2030-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BANIJAY ENTERTAINMENT                             | Banijay Entertainment SAS                                                                                                    | CUSIP: 000000000<br>LEI: 969500CE0IE2EZ5VBG13 | Long             | DBT              | CORP              | FR        |      390000 | PA      | $480119.73    | 0.25%             | 2029-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TUI AG                                            | TUI AG                                                                                                                       | CUSIP: 000000000<br>LEI: 529900SL2WSPV293B552 | Long             | DBT              | CORP              | DE        |      700000 | PA      | $855486.66    | 0.44%             | 2029-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                | Ford Motor Co                                                                                                                | CUSIP: 345370DB3<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |      165000 | PA      | $164768.27    | 0.09%             | 2032-08-19      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                       | PURCHASED EUR / SOLD USD                                                                                                     | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | XX        |           1 | NC      | $5888.24      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| U.K. Gilts                                        | U.K. Gilts                                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |     1750000 | PA      | $2424517.29   | 1.26%             | 2029-07-22      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                 | Iron Mountain Inc                                                                                                            | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      180000 | PA      | $171502.27    | 0.09%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                       | PURCHASED USD / SOLD GBP                                                                                                     | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |           1 | NC      | $-111450.75   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| MAREX GROUP PLC                                   | Marex Group PLC                                                                                                              | CUSIP: 566539AB8<br>LEI: 549300DWX0SVICJAL507 | Long             | DBT              | CORP              | GB        |      495000 | PA      | $501413.14    | 0.26%             | 2028-05-08      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| U.K. Gilts                                        | U.K. Gilts                                                                                                                   | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |     2065000 | PA      | $2651011.86   | 1.38%             | 2033-01-31      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| STATE OF ISRAEL                                   | Israel Government International Bond                                                                                         | CUSIP: 46514BRM1<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | NUSS              | IL        |      360000 | PA      | $333188.49    | 0.17%             | 2054-03-12      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN                                | Seagate HDD Cayman                                                                                                           | CUSIP: 81180WBM2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |       30000 | PA      | $33818.22     | 0.02%             | 2032-12-01      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                  | BAT Capital Corp                                                                                                             | CUSIP: 05526DCD5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |      255000 | PA      | $258269.50    | 0.13%             | 2055-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BMW INTL INVESTMENT BV                            | BMW International Investment BV                                                                                              | CUSIP: 000000000<br>LEI: 724500J951RJJFEW5X49 | Long             | DBT              | CORP              | NL        |      200000 | PA      | $236068.46    | 0.12%             | 2033-01-22      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| TOTALENERGIES CAPITAL SA                          | TotalEnergies Capital SA                                                                                                     | CUSIP: 89157XAF8<br>LEI: 529900QI55ZLJVCMPA71 | Long             | DBT              | CORP              | FR        |      195000 | PA      | $182431.62    | 0.09%             | 2064-09-10      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| 888 ACQUISITIONS LTD                              | 888 Acquisitions Ltd                                                                                                         | CUSIP: 000000000<br>LEI: 254900RFD0BP3JOPZU89 | Long             | DBT              | CORP              | GI        |      320000 | PA      | $379300.11    | 0.20%             | 2027-07-15      | Fixed         | 7.56%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                            | BP Capital Markets America Inc                                                                                               | CUSIP: 10373QCA6<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |      480000 | PA      | $488376.78    | 0.25%             | 2034-11-17      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                          | Brazil Notas do Tesouro Nacional Serie F                                                                                     | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    18500000 | PA      | $3230565.61   | 1.68%             | 2027-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                               | Dominion Energy Inc                                                                                                          | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |      115000 | PA      | $116710.40    | 0.06%             | 2055-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| HLDNG D'INFRA METIERS                             | Holding d'Infrastructures des Metiers de l'Environnement                                                                     | CUSIP: 000000000<br>LEI: 969500I3QVK40XEORU25 | Long             | DBT              | CORP              | FR        |      431000 | PA      | $525924.06    | 0.27%             | 2029-10-24      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae                                                                                                                   | CUSIP: 21H060671<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    11765000 | PA      | $11936854.53  | 6.20%             | 2054-07-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WORLDLINE SA/FRANCE                               | Worldline SA/France                                                                                                          | CUSIP: 000000000<br>LEI: 549300CJMQNCA0U4TS33 | Long             | DBT              | CORP              | FR        |      300000 | PA      | $310486.88    | 0.16%             | 2028-09-12      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| ENBRIDGE INC                                      | Enbridge Inc                                                                                                                 | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |      340000 | PA      | $339048.45    | 0.18%             | 2080-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                         | Block Inc                                                                                                                    | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |       40000 | PA      | $36690.73     | 0.02%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                | Ford Motor Co                                                                                                                | CUSIP: 345370DA5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |      110000 | PA      | $92740.88     | 0.05%             | 2032-02-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                          | Builders FirstSource Inc                                                                                                     | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |       35000 | PA      | $35667.56     | 0.02%             | 2034-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| FS Rialto Issuer Ltd                              | FS Rialto 2021-FL3                                                                                                           | CUSIP: 30323CAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $993336.07    | 0.52%             | 2036-11-16      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                                                             | CUSIP: 126307BM8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |      325000 | PA      | $323776.86    | 0.17%             | 2028-05-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| MASTEC INC                                        | MasTec Inc                                                                                                                   | CUSIP: 576323AP4<br>LEI: 549300TMDIT8WREDOF45 | Long             | DBT              | CORP              | US        |      320000 | PA      | $315688.50    | 0.16%             | 2028-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CMM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      835000 | PA      | $861485.16    | 0.45%             | 2035-02-15      | Fixed         | 4.63%                 | No            |                  1 | On Loan: No      |
| TITULOS DE TESORERIA                              | Colombian TES                                                                                                                | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  8700000000 | PA      | $1839169.35   | 0.96%             | 2030-09-18      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS INC                              | Kyndryl Holdings Inc                                                                                                         | CUSIP: 50155QAM2<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |      280000 | PA      | $222995.17    | 0.12%             | 2041-10-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                      | UBS Group AG                                                                                                                 | CUSIP: 902613AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |      430000 | PA      | $418237.44    | 0.22%             | 2027-02-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                           | Royal Caribbean Cruises Ltd                                                                                                  | CUSIP: 780153BW1<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |       50000 | PA      | $50305.45     | 0.03%             | 2031-09-30      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC                               | Ashtead Capital Inc                                                                                                          | CUSIP: 045054AQ6<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |      355000 | PA      | $358523.94    | 0.19%             | 2033-05-30      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| ORBIA ADVANCE CORP SAB                            | Orbia Advance Corp SAB de CV                                                                                                 | CUSIP: 68560EAD0<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |      215000 | PA      | $222636.80    | 0.12%             | 2035-05-13      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                 | EURO-BUND FUTURE SEP25                                                                                                       | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         -43 | NC      | $46528.82     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Driven Brands Funding, LLC                        | Driven Brands Funding LLC                                                                                                    | CUSIP: 26208LAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      322726 | PA      | $317786.56    | 0.17%             | 2049-10-20      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                      | Enbridge Inc                                                                                                                 | CUSIP: 29250NCD5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |      220000 | PA      | $217732.27    | 0.11%             | 2054-04-05      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                          | Warnermedia Holdings Inc                                                                                                     | CUSIP: 55903VBC6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |      460000 | PA      | $342125.00    | 0.18%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| EUTELSAT SA                                       | Eutelsat SA                                                                                                                  | CUSIP: 000000000<br>LEI: 549300MCOOY1V7P2PG30 | Long             | DBT              | CORP              | FR        |      300000 | PA      | $321330.87    | 0.17%             | 2028-10-13      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                                                                           | CUSIP: 3618N5C56<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     1521248 | PA      | $1495235.20   | 0.78%             | 2054-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                       | RCKT Mortgage Trust 2025-CES1                                                                                                | CUSIP: 749427AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      931973 | PA      | $937509.58    | 0.49%             | 2045-01-25      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2020-1 A PTT                           | United Airlines 2020-1 Class A Pass Through Trust                                                                            | CUSIP: 90931GAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       55649 | PA      | $56784.59     | 0.03%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                      | Fibercop SpA                                                                                                                 | CUSIP: 000000000<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |      395000 | PA      | $425393.71    | 0.22%             | 2029-01-18      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                           | Beach Acquisition Bidco LLC                                                                                                  | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |      370000 | PA      | $383510.55    | 0.20%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                           | Central Garden & Pet Co                                                                                                      | CUSIP: 153527AN6<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |       60000 | PA      | $56639.53     | 0.03%             | 2030-10-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ASMODEE GROUP AB                                  | Asmodee Group AB                                                                                                             | CUSIP: 000000000<br>LEI: 636700G5993BBAFDYD02 | Long             | DBT              | CORP              | SE        |      186667 | PA      | $230053.76    | 0.12%             | 2029-12-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                          | BX Trust 2022-CLS                                                                                                            | CUSIP: 05609XAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      750000 | PA      | $736588.58    | 0.38%             | 2027-10-13      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| NMEF Funding LLC                                  | NMEF Funding 2025-A LLC                                                                                                      | CUSIP: 62919VAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      445000 | PA      | $447858.19    | 0.23%             | 2032-07-15      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| BANCOLOMBIA SA                                    | Bancolombia SA                                                                                                               | CUSIP: 05968LAN2<br>LEI: 54930052NWJRPNMP1W58 | Long             | DBT              | CORP              | CO        |      145000 | PA      | $152455.18    | 0.08%             | 2034-12-24      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                             | Level 3 Financing Inc                                                                                                        | CUSIP: 527298BT9<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |       60000 | PA      | $50475.00     | 0.03%             | 2029-07-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                                    | Hertz Corp/The                                                                                                               | CUSIP: 428040DC0<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |      340000 | PA      | $355557.86    | 0.18%             | 2029-07-15      | Fixed         | 12.63%                | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                             | Wells Fargo & Co                                                                                                             | CUSIP: 95000U3H4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      630000 | PA      | $688609.60    | 0.36%             | 2034-10-23      | Fixed         | 6.49%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE / IRELAND DAC                           | Aircastle Ltd / Aircastle Ireland DAC                                                                                        | CUSIP: 00929JAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |      360000 | PA      | $362966.24    | 0.19%             | 2030-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chorus Ltd.                                       | Chorus Ltd.                                                                                                                  | CUSIP: 000000000<br>LEI: R7NJHU48LTCIOB9BVU57 | Long             | DBT              | CORP              | NZ        |      295000 | PA      | $355941.80    | 0.18%             | 2029-09-07      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                  | SMB Private Education Loan Trust 2015-C                                                                                      | CUSIP: 78448RAF3<br>LEI: 549300GD7VLLBVPDNJ81 | Long             | ABS-O            | CORP              | US        |      970000 | PA      | $952129.50    | 0.49%             | 2046-09-17      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                     | Carnival Corp                                                                                                                | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |      330000 | PA      | $337640.16    | 0.18%             | 2033-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL CAP FND                             | Golub Capital Private Credit Fund                                                                                            | CUSIP: 38179RAD7<br>LEI: 254900B5KBW6OY1F9951 | Long             | DBT              | CORP              | US        |      205000 | PA      | $204751.81    | 0.11%             | 2030-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae                                                                                                                   | CUSIP: 21H062677<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    16755000 | PA      | $17199503.45  | 8.93%             | 2054-07-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust                          | Octane Receivables Trust 2023-1                                                                                              | CUSIP: 67571BAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      160000 | PA      | $161223.97    | 0.08%             | 2029-07-20      | Fixed         | 5.96%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                          | Charter Communications Operating LLC / Charter Communications Operating Capital                                              | CUSIP: 161175CC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      260000 | PA      | $182308.30    | 0.09%             | 2061-12-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| VATTENFALL AB                                     | Vattenfall AB                                                                                                                | CUSIP: 000000000<br>LEI: 549300T5RZ1HA5HZ3109 | Long             | DBT              | CORP              | SE        |      350000 | PA      | $434700.02    | 0.23%             | 2083-06-29      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp                              | Bank of America Corp                                                                                                         | CUSIP: 060505EU4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      195000 | PA      | $196302.81    | 0.10%             | 2026-03-10      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                            | Match Group Holdings II LLC                                                                                                  | CUSIP: 57665RAL0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |       90000 | PA      | $84166.77     | 0.04%             | 2030-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| COCA-COLA ICECEK AS                               | Coca-Cola Icecek AS                                                                                                          | CUSIP: 1912ERAA8<br>LEI: 789000WT80VVLUWJDK41 | Long             | DBT              | CORP              | TR        |      595000 | PA      | $578407.40    | 0.30%             | 2029-01-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2017-6                                                                                              | CUSIP: 46649HBC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      399184 | PA      | $319840.73    | 0.17%             | 2048-12-25      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| ENCINO ACQUISITION PARTN                          | Encino Acquisition Partners Holdings LLC                                                                                     | CUSIP: 29254BAB3<br>LEI: 549300BUKUEKT2UE4T49 | Long             | DBT              | CORP              | US        |      105000 | PA      | $115957.38    | 0.06%             | 2031-05-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                                 | Nexstar Media Inc                                                                                                            | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |      120000 | PA      | $119719.27    | 0.06%             | 2027-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                          | California Resources Corp                                                                                                    | CUSIP: 13057QAK3<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |      150000 | PA      | $153971.55    | 0.08%             | 2029-06-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Issuer LLC             | New Economy Assets - Phase 1 Sponsor LLC                                                                                     | CUSIP: 643821AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1500000 | PA      | $1375262.25   | 0.71%             | 2061-10-20      | Fixed         | 2.41%                 | No            |                  2 | On Loan: No      |
| MARKET BIDCO FINCO PLC                            | Market Bidco Finco PLC                                                                                                       | CUSIP: 000000000<br>LEI: 549300UGYX6EBVHRVG53 | Long             | DBT              | CORP              | GB        |      100000 | PA      | $134523.79    | 0.07%             | 2027-11-04      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| AT&T INC                                          | AT&T Inc                                                                                                                     | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |      265000 | PA      | $178808.18    | 0.09%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                 | Clean Harbors Inc                                                                                                            | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |       18000 | PA      | $18441.41     | 0.01%             | 2031-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ZEGONA FINANCE PLC                                | Zegona Finance PLC                                                                                                           | CUSIP: 000000000<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |      390000 | PA      | $488113.30    | 0.25%             | 2029-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SAMPO OYJ                                         | Sampo Oyj                                                                                                                    | CUSIP: 000000000<br>LEI: 743700UF3RL386WIDA22 | Long             | DBT              | CORP              | FI        |      355000 | PA      | $379149.46    | 0.20%             | 2052-09-03      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| ESC CB144A UNIFIN FINA                            | ESC CB144A UNIFIN FINA                                                                                                       | CUSIP: 904ESCAN0<br>LEI: 5493007GRMPGDJG93Z17 | Long             | DBT              | CORP              | MX        |      600000 | PA      | $36600.00     | 0.02%             | 2029-01-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SES SA                                            | SES SA                                                                                                                       | CUSIP: 000000000<br>LEI: 5493008JPA4HYMH1HX51 | Long             | DBT              | CORP              | LU        |      400000 | PA      | $456128.31    | 0.24%             | 2054-09-12      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                          | EMRLD Borrower LP / Emerald Co-Issuer Inc                                                                                    | CUSIP: 29103CAA6<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |       30000 | PA      | $30665.16     | 0.02%             | 2030-12-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| SPDR Portfolio High Yield Bond ETF                | SPDR Portfolio High Yield Bond ETF                                                                                           | CUSIP: 78468R606<br>LEI: N/A                  | Long             | EC               | RF                | US        |       69895 | NS      | $1663501.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                          | CUSIP: 912810UE6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |       60000 | PA      | $57178.13     | 0.03%             | 2054-11-15      | Fixed         | 4.50%                 | No            |                  1 | On Loan: No      |
| US BANCORP                                        | US Bancorp                                                                                                                   | CUSIP: 91159HJN1<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |      325000 | PA      | $341384.43    | 0.18%             | 2034-06-12      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                            | Venture Global LNG Inc                                                                                                       | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |      440000 | PA      | $427767.47    | 0.22%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Tele Columbus AG                                  | Tele Columbus AG                                                                                                             | CUSIP: 000000000<br>LEI: 3912004GMFDLY04RUQ19 | Long             | DBT              | CORP              | DE        |      339095 | PA      | $274013.90    | 0.14%             | 2029-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| SHERWOOD FINANCING PLC                            | Sherwood Financing PLC                                                                                                       | CUSIP: 000000000<br>LEI: 259400SSZWSSPNYW7K08 | Long             | DBT              | CORP              | GB        |      395000 | PA      | $463533.83    | 0.24%             | 2026-11-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Aqua Finance Trust                                | Aqua Finance Trust 2019-A                                                                                                    | CUSIP: 038370AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       83194 | PA      | $80768.70     | 0.04%             | 2040-07-16      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| NEXI SPA                                          | Nexi SpA                                                                                                                     | CUSIP: 000000000<br>LEI: 5493000P70CQRQG8SN85 | Long             | DBT              | CORP              | IT        |      250000 | PA      | $280356.97    | 0.15%             | 2029-04-30      | Fixed         | 2.13%                 | Yes           |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                 | GEO Group Inc/The                                                                                                            | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |      300000 | PA      | $317618.99    | 0.16%             | 2029-04-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL                            | Anglo American Capital PLC                                                                                                   | CUSIP: 000000000<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |      205000 | PA      | $256146.41    | 0.13%             | 2032-09-21      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                          | CHS/Community Health Systems Inc                                                                                             | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |      220000 | PA      | $233170.74    | 0.12%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                             | Trivium Packaging Finance BV                                                                                                 | CUSIP: 89686QAC0<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |      500000 | PA      | $535967.00    | 0.28%             | 2031-01-15      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                             | Venture Global Plaquemines LNG LLC                                                                                           | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |      410000 | PA      | $439037.43    | 0.23%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                               | Buckeye Partners LP                                                                                                          | CUSIP: 118230AM3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |       60000 | PA      | $52881.38     | 0.03%             | 2043-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Booking Holdings, Inc.                            | Booking Holdings, Inc.                                                                                                       | CUSIP: 000000000<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | DBT              | CORP              | US        |      245000 | PA      | $300925.66    | 0.16%             | 2033-05-12      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| TERRAFORM POWER OPERATIN                          | TerraForm Power Operating LLC                                                                                                | CUSIP: 88104LAG8<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |      239000 | PA      | $228816.57    | 0.12%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 15-1 A PTT                             | American Airlines 2015-1 Class A Pass Through Trust                                                                          | CUSIP: 023770AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      349664 | PA      | $340745.40    | 0.18%             | 2027-05-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                          | Prudential Financial Inc                                                                                                     | CUSIP: 744320BH4<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |       80000 | PA      | $72969.97     | 0.04%             | 2050-10-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Frontier Issuer LLC                               | Frontier Issuer LLC                                                                                                          | CUSIP: 35910EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      900000 | PA      | $914222.88    | 0.47%             | 2053-08-20      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                           | Teva Pharmaceutical Finance Netherlands III BV                                                                               | CUSIP: 88167AAR2<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |       70000 | PA      | $79265.20     | 0.04%             | 2031-09-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                          | Hilcorp Energy I LP / Hilcorp Finance Co                                                                                     | CUSIP: 431318BC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       15000 | PA      | $15563.81     | 0.01%             | 2033-11-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                           | Jane Street Group / JSG Finance Inc                                                                                          | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       60000 | PA      | $63129.42     | 0.03%             | 2031-04-30      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                          | CUSIP: 912810SF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      135000 | PA      | $99467.58     | 0.05%             | 2049-02-15      | Fixed         | 3.00%                 | No            |                  1 | On Loan: No      |
| NORTHRIVER MIDSTREAM FIN                          | Northriver Midstream Finance LP                                                                                              | CUSIP: 66679NAB6<br>LEI: 549300SOLNLY3BL6GF18 | Long             | DBT              | CORP              | CA        |       25000 | PA      | $25890.70     | 0.01%             | 2032-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STORE Master Funding LLC                          | Store Master Funding I-VII XIV XIX XX XXIV                                                                                   | CUSIP: 86212XAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      494792 | PA      | $498504.63    | 0.26%             | 2053-06-20      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                          | Occidental Petroleum Corp                                                                                                    | CUSIP: 674599EF8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |      215000 | PA      | $222573.01    | 0.12%             | 2031-01-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| GLOBAL AIR LEASE CO LTD                           | Global Aircraft Leasing Co Ltd                                                                                               | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |      315000 | PA      | $322909.97    | 0.17%             | 2027-09-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| PARTNERRE FINANCE B LLC                           | PartnerRe Finance B LLC                                                                                                      | CUSIP: 70213BAC5<br>LEI: 549300O0FAGHK2F79881 | Long             | DBT              | CORP              | US        |       40000 | PA      | $37636.55     | 0.02%             | 2050-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CONOCOPHILLIPS COMPANY                            | ConocoPhillips Co                                                                                                            | CUSIP: 20826FBN5<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |       75000 | PA      | $71345.74     | 0.04%             | 2065-01-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                          | Celanese US Holdings LLC                                                                                                     | CUSIP: 15089QAP9<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |       20000 | PA      | $20967.44     | 0.01%             | 2032-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                           | Macy's Retail Holdings LLC                                                                                                   | CUSIP: 55617LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      205000 | PA      | $195441.70    | 0.10%             | 2032-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| HIGHMARK INC                                      | Highmark Inc                                                                                                                 | CUSIP: 431116AE2<br>LEI: 549300B6868ZXXEB2Y57 | Long             | DBT              | CORP              | US        |      215000 | PA      | $184359.11    | 0.10%             | 2031-05-10      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                          | Vistra Operations Co LLC                                                                                                     | CUSIP: 92840VAG7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |      365000 | PA      | $360247.46    | 0.19%             | 2027-01-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| MNR ABS ISSUER I LLC                              | MNR ABS ISSUER I LLC                                                                                                         | CUSIP: 55317XAA7<br>LEI: 254900P5PAYARXBH9O74 | Long             | ABS-O            | CORP              | US        |      196081 | PA      | $198630.18    | 0.10%             | 2038-12-15      | Fixed         | 8.12%                 | No            |                  3 | On Loan: No      |
| NETAPP INC                                        | NetApp Inc                                                                                                                   | CUSIP: 64110DAN4<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | DBT              | CORP              | US        |      350000 | PA      | $359437.07    | 0.19%             | 2035-03-17      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                          | Standard Industries Inc/NY                                                                                                   | CUSIP: 853496AC1<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |       20000 | PA      | $19954.77     | 0.01%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CASTELLUM AB                                      | Castellum AB                                                                                                                 | CUSIP: 000000000<br>LEI: 549300GU5OHTR1T5IY68 | Long             | DBT              | CORP              | SE        |      400000 | PA      | $460897.22    | 0.24%             | 2026-12-02      | Fixed         | 3.13%                 | Yes           |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                             | Nabors Industries Inc                                                                                                        | CUSIP: 62957HAP0<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |      220000 | PA      | $210650.75    | 0.11%             | 2030-01-31      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                      | UBS Group AG                                                                                                                 | CUSIP: 902613BH0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |      580000 | PA      | $602443.12    | 0.31%             | 2035-02-08      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| CP Atlas Buyer Inc                                | CP Atlas Buyer Inc 2021 Term Loan B                                                                                          | CUSIP: 12658HAG7<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | LON              | CORP              | US        |      437328 | PA      | $435324.66    | 0.23%             | 2027-11-23      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust                    | Pagaya AI Debt Trust 2025-4                                                                                                  | CUSIP: 69547DAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      635000 | PA      | $635908.37    | 0.33%             | 2033-01-17      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| SFAVE Commercial Mortgage Securities Trust        | SFAVE Commercial Mortgage Securities Trust 2015-5AVE                                                                         | CUSIP: 78413MAE8<br>LEI: 549300FIGODFFTOAAU64 | Long             | ABS-MBS          | CORP              | US        |      505000 | PA      | $438423.22    | 0.23%             | 2043-01-05      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                          | Outfront Media Capital LLC / Outfront Media Capital Corp                                                                     | CUSIP: 69007TAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       25000 | PA      | $26467.85     | 0.01%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC               | PURCHASED USD / SOLD ZAR                                                                                                     | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |           1 | NC      | $-13450.73    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| NEWS CORP                                         | News Corp                                                                                                                    | CUSIP: 65249BAA7<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |      375000 | PA      | $358777.65    | 0.19%             | 2029-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                       | BNP Paribas SA                                                                                                               | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |      220000 | PA      | $231390.50    | 0.12%             | 2029-08-16      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS                          | Brandywine Operating Partnership LP                                                                                          | CUSIP: 105340AS2<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              |  | US        |       35000 | PA      | $37893.39     | 0.02%             | 2029-04-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CABLEVISION LIGHTPATH                             | Cablevision Lightpath LLC                                                                                                    | CUSIP: 12687GAB5<br>LEI: 5493002ZVBLRLGES1R71 | Long             | DBT              | CORP              | US        |      390000 | PA      | $376761.72    | 0.20%             | 2028-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                           | Royal Caribbean Cruises Ltd                                                                                                  | CUSIP: 780153BV3<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |      645000 | PA      | $657433.67    | 0.34%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                      | UBS Group AG                                                                                                                 | CUSIP: 902613BN7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |      215000 | PA      | $215943.64    | 0.11%             | 2029-09-10      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Emera Inc                                         | Emera Inc                                                                                                                    | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |      395000 | PA      | $397477.95    | 0.21%             | 2076-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINANCING I                            | Vmed O2 UK Financing I PLC                                                                                                   | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |      390000 | PA      | $470770.92    | 0.24%             | 2032-04-15      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| SDAL Trust                                        | SDAL Trust 2025-DAL                                                                                                          | CUSIP: 78437RAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      500000 | PA      | $503420.70    | 0.26%             | 2042-04-15      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                       | FIGRE Trust 2023-HE2                                                                                                         | CUSIP: 316925AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      275432 | PA      | $281251.31    | 0.15%             | 2053-05-25      | Variable      | 6.51%                 | No            |                  2 | On Loan: No      |
| MERCADOLIBRE INC                                  | MercadoLibre Inc                                                                                                             | CUSIP: 58733RAF9<br>LEI: 549300DKPDN9M5S8GB14 | Long             | DBT              | CORP              | US        |      445000 | PA      | $400170.43    | 0.21%             | 2031-01-14      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                    | Whirlpool Corp                                                                                                               | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |       50000 | PA      | $50439.44     | 0.03%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                          | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp                                                           | CUSIP: 505742AR7<br>LEI: N/A                  | Long             | DBT              |  | US        |      280000 | PA      | $292793.20    | 0.15%             | 2031-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PIEDMONT OPERATING PARTN                          | Piedmont Operating Partnership LP                                                                                            | CUSIP: 720198AG5<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              |  | US        |      130000 | PA      | $144799.12    | 0.08%             | 2028-07-20      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                                                             | CUSIP: 3132DWMS9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     4695982 | PA      | $4696863.95   | 2.44%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CMU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     4550000 | PA      | $4592300.80   | 2.39%             | 2030-03-31      | Fixed         | 4.00%                 | No            |                  1 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD                          | Macquarie Airfinance Holdings Ltd                                                                                            | CUSIP: 55609NAC2<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |      175000 | PA      | $182691.95    | 0.09%             | 2029-03-26      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| UPBOUND GROUP INC                                 | Upbound Group Inc                                                                                                            | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |      200000 | PA      | $197848.56    | 0.10%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AIB GROUP PLC                                     | AIB Group PLC                                                                                                                | CUSIP: 00135TAF1<br>LEI: 635400AKJBGNS5WNQL34 | Long             | DBT              | CORP              | IE        |      215000 | PA      | $218771.37    | 0.11%             | 2031-05-15      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| FLORA FOOD MANAGEMENT BV                          | Flora Food Management BV                                                                                                     | CUSIP: 000000000<br>LEI: 2549002VGA888UKFKS25 | Long             | DBT              | CORP              | NL        |      250000 | PA      | $298830.70    | 0.16%             | 2029-07-02      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                                | Vodafone Group PLC                                                                                                           | CUSIP: 000000000<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |      260000 | PA      | $290525.04    | 0.15%             | 2080-08-27      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                           | Booz Allen Hamilton Inc                                                                                                      | CUSIP: 09951LAD5<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |      175000 | PA      | $177605.58    | 0.09%             | 2035-04-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                              | Kaiser Aluminum Corp                                                                                                         | CUSIP: 483007AJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       25000 | PA      | $24460.26     | 0.01%             | 2028-03-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE INSURANCE                           | New York Life Insurance Co                                                                                                   | CUSIP: 64952GAE8<br>LEI: TAE73CY392TBWJ3O3305 | Long             | DBT              | CORP              | US        |      255000 | PA      | $267077.53    | 0.14%             | 2033-05-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                 | EURO-BOBL FUTURE SEP25                                                                                                       | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         -44 | NC      | $25324.05     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CORECIVIC INC                                     | CoreCivic Inc                                                                                                                | CUSIP: 21871NAC5<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |      175000 | PA      | $185544.63    | 0.10%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BANK                           | National Australia Bank Ltd                                                                                                  | CUSIP: 632525BB6<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |      995000 | PA      | $879237.24    | 0.46%             | 2037-01-12      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| CIRSA FINANCE INTER                               | Cirsa Finance International Sarl                                                                                             | CUSIP: 000000000<br>LEI: 254900KUJN6DHWH2K029 | Long             | DBT              | CORP              | LU        |      427500 | PA      | $528877.11    | 0.27%             | 2027-11-30      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                  | ABN AMRO Bank NV                                                                                                             | CUSIP: 000000000<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |      400000 | PA      | $469531.13    | 0.24%             | 2027-09-22      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CLS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     4170000 | PA      | $4181565.24   | 2.17%             | 2026-10-31      | Fixed         | 4.13%                 | No            |                  1 | On Loan: No      |
| Colombia Government International Bonds           | Colombia Government International Bonds                                                                                      | CUSIP: 195325EG6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |      325000 | PA      | $322990.36    | 0.17%             | 2034-02-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                        | MFA 2020-NQM3 Trust                                                                                                          | CUSIP: 552757AD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $923055.30    | 0.48%             | 2065-01-26      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| Unifin Financiera SAB de CV                       | Unifin Financiera SAB de CV                                                                                                  | CUSIP: 000000000<br>LEI: 5493007GRMPGDJG93Z17 | Long             | EC               | CORP              | MX        |       78042 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VIATRIS INC                                       | Viatris Inc                                                                                                                  | CUSIP: 92556VAE6<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |      485000 | PA      | $358217.20    | 0.19%             | 2040-06-22      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| ENCINO ACQUISITION PARTN                          | Encino Acquisition Partners Holdings LLC                                                                                     | CUSIP: 29254BAA5<br>LEI: 549300BUKUEKT2UE4T49 | Long             | DBT              | CORP              | US        |      105000 | PA      | $107887.82    | 0.06%             | 2028-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| TELEPERFORMANCE                                   | Teleperformance SE                                                                                                           | CUSIP: 000000000<br>LEI: 9695004GI61FHFFNRG61 | Long             | DBT              | CORP              | FR        |      400000 | PA      | $507315.07    | 0.26%             | 2031-11-22      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| OCEANEERING INTL INC                              | Oceaneering International Inc                                                                                                | CUSIP: 675232AB8<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |      155000 | PA      | $156277.67    | 0.08%             | 2028-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SALLY HOLDINGS/SALLY CAP                          | Sally Holdings LLC / Sally Capital Inc                                                                                       | CUSIP: 79546VAQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       25000 | PA      | $25665.20     | 0.01%             | 2032-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                          | CUSIP: 912810UC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     1335000 | PA      | $1219126.17   | 0.63%             | 2054-08-15      | Fixed         | 4.25%                 | No            |                  1 | On Loan: No      |
| NEWELL BRANDS INC                                 | Newell Brands Inc                                                                                                            | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |       40000 | PA      | $38912.96     | 0.02%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| NBC Funding LLC                                   | NBC Funding LLC                                                                                                              | CUSIP: 62878YAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      900475 | PA      | $917199.16    | 0.48%             | 2054-07-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                           | Goldman Sachs Group Inc/The                                                                                                  | CUSIP: 38144GAE1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      520000 | PA      | $511847.70    | 0.27%             | 2026-05-10      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Five Guys Funding, LLC                            | Five Guys Holdings Inc                                                                                                       | CUSIP: 33830JAE5<br>LEI: 549300XWT8G8Q3Z3HJ19 | Long             | ABS-O            | CORP              | US        |      179100 | PA      | $185071.41    | 0.10%             | 2054-01-26      | Fixed         | 7.55%                 | No            |                  2 | On Loan: No      |
| BANCO INDUSTRIAL SA                               | Banco Industrial SA/Guatemala                                                                                                | CUSIP: 05991CAA1<br>LEI: 529900GF99QF67JEQU85 | Long             | DBT              | CORP              | GT        |      300000 | PA      | $298350.00    | 0.15%             | 2031-01-29      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                         | Ball Corp                                                                                                                    | CUSIP: 058498AW6<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |       25000 | PA      | $22537.12     | 0.01%             | 2030-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC                            | AthenaHealth Group Inc                                                                                                       | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |      535000 | PA      | $526582.04    | 0.27%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CAIXABANK SA                                      | CaixaBank SA                                                                                                                 | CUSIP: 000000000<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |      400000 | PA      | $505077.44    | 0.26%             | 2033-02-23      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp                                                                                                         | CUSIP: 06051GMD8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      195000 | PA      | $195001.77    | 0.10%             | 2035-10-25      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| BRITISH TELECOMMUNICATIO                          | British Telecommunications PLC                                                                                               | CUSIP: 000000000<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |      295000 | PA      | $433926.63    | 0.23%             | 2083-12-20      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                               | Global Payments Inc                                                                                                          | CUSIP: 37940XAR3<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |       70000 | PA      | $67291.57     | 0.03%             | 2052-08-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CORP FINANCIERA DE DESAR                          | Corp Financiera de Desarrollo SA                                                                                             | CUSIP: 21987DAG9<br>LEI: 254900BOM7T4MG6T0J30 | Long             | DBT              | NUSS              | PE        |      640000 | PA      | $659852.80    | 0.34%             | 2029-04-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                            | US 5YR NOTE (CBT) SEP25                                                                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |          72 | NC      | $46275.45     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GEO GROUP INC/THE                                 | GEO Group Inc/The                                                                                                            | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |      125000 | PA      | $137094.75    | 0.07%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| ENI SPA                                           | Eni SpA                                                                                                                      | CUSIP: 26874RAP3<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |      420000 | PA      | $406324.47    | 0.21%             | 2054-05-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                                                                          | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     1610000 | PA      | $1567234.38   | 0.81%             | 2055-02-15      | Fixed         | 4.63%                 | No            |                  1 | On Loan: No      |
| INTACT FINANCIAL CORP                             | Intact Financial Corp                                                                                                        | CUSIP: 45823TAL0<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | DBT              | CORP              | CA        |      620000 | PA      | $634817.45    | 0.33%             | 2032-09-22      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                          | South Bow USA Infrastructure Holdings LLC                                                                                    | CUSIP: 83007CAC6<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |      305000 | PA      | $305983.91    | 0.16%             | 2029-10-01      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| Commonbond Student Loan Trust                     | Commonbond Student Loan Trust 2018-C-GS                                                                                      | CUSIP: 20267XAD5<br>LEI: 549300O1CSZVJJTIR319 | Long             | ABS-O            | CORP              | US        |       66652 | PA      | $58626.81     | 0.03%             | 2046-02-25      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| TUI CRUISES GMBH                                  | TUI Cruises GmbH                                                                                                             | CUSIP: 000000000<br>LEI: 529900SVD83QUUIZYY18 | Long             | DBT              | CORP              | DE        |      250000 | PA      | $296159.04    | 0.15%             | 2030-05-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| SERVICE CORP INTL                                 | Service Corp International/US                                                                                                | CUSIP: 817565CH5<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |       40000 | PA      | $40407.92     | 0.02%             | 2032-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TELEFONICA EMISIONES SAU                          | Telefonica Emisiones SA                                                                                                      | CUSIP: 000000000<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |      400000 | PA      | $483504.79    | 0.25%             | 2033-11-21      | Fixed         | 4.18%                 | Yes           |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                            | Venture Global LNG Inc                                                                                                       | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |      150000 | PA      | $155795.35    | 0.08%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                  | Societe Generale SA                                                                                                          | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |      600000 | PA      | $701168.73    | 0.36%             | 2035-05-17      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| VERISURE HOLDING AB                               | Verisure Holding AB                                                                                                          | CUSIP: 000000000<br>LEI: 549300VQQCWGISM3N408 | Long             | DBT              | CORP              | SE        |      113000 | PA      | $138105.87    | 0.07%             | 2030-05-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                               | Southern California Edison Co                                                                                                | CUSIP: 842400JH7<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |      360000 | PA      | $329170.79    | 0.17%             | 2055-03-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| GUARDIAN LIFE INSURANCE                           | Guardian Life Insurance Co of America/The                                                                                    | CUSIP: 401378AC8<br>LEI: N1YIDVMMKBHFYCCAIX69 | Long             | DBT              | CORP              | US        |      145000 | PA      | $120375.15    | 0.06%             | 2077-01-24      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                             | TRK 2021-INV2 Trust                                                                                                          | CUSIP: 87267TAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      595759 | PA      | $527077.22    | 0.27%             | 2056-11-25      | Variable      | 2.12%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                                                               | CUSIP: 61747YFV2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      430000 | PA      | $420209.05    | 0.22%             | 2055-11-19      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                             | Level 3 Financing Inc                                                                                                        | CUSIP: 527298BZ5<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |      270000 | PA      | $306112.50    | 0.16%             | 2030-12-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                  | Paramount Global                                                                                                             | CUSIP: 92553PBC5<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |      510000 | PA      | $480034.95    | 0.25%             | 2057-02-28      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                            | US 10YR ULTRA FUT SEP25                                                                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -134 | NC      | $-256699.11   | -0.13%            |  |  |  | No            |                  1 | On Loan: No      |
| STARWOOD PROPERTY TRUST                           | Starwood Property Trust Inc                                                                                                  | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |       25000 | PA      | $25821.50     | 0.01%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CMZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      635000 | PA      | $637480.47    | 0.33%             | 2030-04-30      | Fixed         | 3.88%                 | No            |                  1 | On Loan: No      |
| PSEG POWER LLC                                    | PSEG Power LLC                                                                                                               | CUSIP: 69362BBE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      360000 | PA      | $370749.90    | 0.19%             | 2035-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CITADEL LP                                        | Citadel LP                                                                                                                   | CUSIP: 17288XAC8<br>LEI: 549300IPM6EKPVUPFL67 | Long             | DBT              | CORP              | US        |      230000 | PA      | $240171.60    | 0.12%             | 2032-01-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CROCS INC                                         | Crocs Inc                                                                                                                    | CUSIP: 227046AB5<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |      190000 | PA      | $171097.19    | 0.09%             | 2031-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                       | FIGRE Trust 2023-HE1                                                                                                         | CUSIP: 302455AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      405472 | PA      | $409196.19    | 0.21%             | 2053-03-25      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                            | Santander Holdings USA Inc                                                                                                   | CUSIP: 80282KBH8<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |       70000 | PA      | $78078.47     | 0.04%             | 2031-11-09      | Fixed         | 7.66%                 | No            |                  2 | On Loan: No      |
| Coinstar Funding, LLC                             | Coinstar Funding LLC Series 2017-1                                                                                           | CUSIP: 19260MAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1025800 | PA      | $948875.26    | 0.49%             | 2047-04-25      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| SFAVE Commercial Mortgage Securities Trust        | SFAVE Commercial Mortgage Securities Trust 2015-5AVE                                                                         | CUSIP: 78413MAQ1<br>LEI: 549300FIGODFFTOAAU64 | Long             | ABS-MBS          | CORP              | US        |      700000 | PA      | $550660.25    | 0.29%             | 2043-01-05      | Variable      | 4.53%                 | No            |                  2 | On Loan: No      |
| DRB PRIME STUDENT LOAN TRUST                      | Laurel Road Prime Student Loan Trust 2017-C                                                                                  | CUSIP: 518889AE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      295202 | PA      | $290576.94    | 0.15%             | 2042-11-25      | Fixed         | 3.29%                 | No            |                  2 | On Loan: No      |
| ENGIE SA                                          | Engie SA                                                                                                                     | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | DBT              | CORP              | FR        |      400000 | PA      | $439549.99    | 0.23%             | 2032-03-30      | Fixed         | 2.13%                 | Yes           |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                              | Chart Industries Inc                                                                                                         | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |       54000 | PA      | $56534.00     | 0.03%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                     | EchoStar Corp                                                                                                                | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |      518562 | PA      | $473255.42    | 0.25%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

**Name of Applicant:** ALLSPRING FUNDS TRUST

**Signature:** Jeremy DePalma

**Name of Signer:** Jeremy DePalma

**Title:** Treasurer