# EDGAR Filing Document

**Accession Number:** 0001649227
**File Stem:** 0001752724-25-212727
**Filing Date:** 2025-8
**Character Count:** 82600
**Document Hash:** a8cec0fa4dca56dd5040c0393c5f38ef
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-212727.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001752724-25-212727

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Community Development Fund
- **CENTRAL INDEX KEY:** 0001649227

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23080
- **FILM NUMBER:** 251278984

**BUSINESS ADDRESS:**
- **STREET 1:** 6255 CHAPMAN FIELD DRIVE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33156
- **BUSINESS PHONE:** (305) 663-0100

**MAIL ADDRESS:**
- **STREET 1:** 6255 CHAPMAN FIELD DRIVE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33156

## Series and Classes Contracts Data

### THE COMMUNITY DEVELOPMENT FUND (Series ID: S000051233)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000161514 | Class A Shares | CDCDX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** THE COMMUNITY DEVELOPMENT FUND

- **b. Investment Company Act file number:** 811-23080

- **c. CIK number of Registrant:** 0001649227

- **d. LEI of Registrant:** 549300CXF3UPFLVE4L42

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

  - **Street Address 1:** 6255 CHAPMAN FIELD DRIVE

  - **City:** MIAMI

  - **State:** FL

  - **Foreign country:** US

  - **Zip / Postal Code:** 33156

  - **Telephone number:** 3056630100

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

- **a. Name of Series:** COMMUNITY DEVELOPMENT FUND

- **b. EDGAR series identifier (if any):** S000051233

- **c. LEI of Series:** 549300GYJMCCHY31QG05

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

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

- **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:** $306519034.22

**Total Liabilities:** $1269668.31

**Net Assets:** $305249365.91

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -323.83995399 | **1-Year:** -6702.84116924 | **5-Year:** -42514.68614938 | **10-Year:** -58345.79816908 | **30-Year:** -11353.53581724

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

- **3-Month:** -339.67197360 | **1-Year:** -6356.93076621 | **5-Year:** -14979.58157128 | **10-Year:** -10368.05220635 | **30-Year:** -1136.51489084

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000161514 | 1.06%                | -0.61%               | 0.61%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $177611.45               | $2594928.54                                |
| Month 2  | $120826.84               | $-3049136.99                               |
| Month 3  | $62831.05                | $782304.45                                 |

**Designated Index Information**

- **Index Name:** Bloomberg U.S. Securitized: MBS, ABS, and CMBS TR USD

- **Index Identifier:** LBFI_5582_USD_TR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BX COMMERCIAL MORTGAGE TRUST                           | BX COMMERCIAL MORTGAGE TRUST 2022-AHP BX 2022-AHP AS                              | CUSIP: 05610FAB3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   2155000 | PA      | $2149612.50   | 0.70%             | 2039-01-17      | Floating      | 5.80%                 | Yes           |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST                           | BX COMMERCIAL MORTGAGE TRUST 2022-AHP BX 2022-AHP B                               | CUSIP: 05610FAC1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   3000000 | PA      | $2990625.00   | 0.98%             | 2039-01-17      | Floating      | 6.15%                 | Yes           |                  2 | On Loan: No      |
| COLORADO HSG & FIN AUTH                                | COLORADO ST HSG & FIN AUTH COLORADO HOUSING AND FINANCE AUTHORITY                 | CUSIP: 19648GCH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1076480.50   | 0.35%             | 2030-11-01      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AN5657                                                         | CUSIP: 3138LJJB7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    335060 | PA      | $315116.38    | 0.10%             | 2032-07-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AN7888                                                         | CUSIP: 3138LLXS9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   3189647 | PA      | $2903866.24   | 0.95%             | 2034-12-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AS7476                                                         | CUSIP: 3138WHJW3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    338337 | PA      | $301379.45    | 0.10%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AS7484                                                         | CUSIP: 3138WHJ60<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    345872 | PA      | $307936.78    | 0.10%             | 2046-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AS7647                                                         | CUSIP: 3138WHP97<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    574476 | PA      | $514696.39    | 0.17%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AS7653                                                         | CUSIP: 3138WHQF2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    847579 | PA      | $750766.24    | 0.25%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AS8262                                                         | CUSIP: 3138WJFC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    520422 | PA      | $459905.74    | 0.15%             | 2046-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AS8734                                                         | CUSIP: 3138WJV47<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    538238 | PA      | $496760.89    | 0.16%             | 2047-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AS9360                                                         | CUSIP: 3138WKMJ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    333222 | PA      | $312609.63    | 0.10%             | 2047-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BC0962                                                         | CUSIP: 3140EVB89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    230597 | PA      | $208173.41    | 0.07%             | 2046-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BS0345                                                         | CUSIP: 3140LAL37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    901522 | PA      | $707478.12    | 0.23%             | 2036-01-01      | Fixed         | 1.61%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BS7108                                                         | CUSIP: 3140LH3S7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   2669758 | PA      | $2727257.12   | 0.89%             | 2032-12-01      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BS8180                                                         | CUSIP: 3140LKCS0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    998294 | PA      | $997107.88    | 0.33%             | 2028-04-01      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BS8987                                                         | CUSIP: 3140LK6Z1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1083000 | PA      | $1080424.52   | 0.35%             | 2040-07-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BT0120                                                         | CUSIP: 3140LND20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1037291 | PA      | $833562.59    | 0.27%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ0271                                                         | CUSIP: 3140NUJR1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1983119 | PA      | $2004328.91   | 0.66%             | 2040-01-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ0567                                                         | CUSIP: 3140NUTZ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $1013890.47   | 0.33%             | 2034-05-01      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ0597                                                         | CUSIP: 3140NUUX5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1986407 | PA      | $2019507.85   | 0.66%             | 2040-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ1150                                                         | CUSIP: 3140NVH42<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    400000 | PA      | $403899.06    | 0.13%             | 2031-06-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ2242                                                         | CUSIP: 3140NWP41<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   4974010 | PA      | $4935110.18   | 1.62%             | 2034-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ3304                                                         | CUSIP: 3140NXU68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   3000000 | PA      | $3043838.52   | 1.00%             | 2030-03-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ3372                                                         | CUSIP: 3140NXXA6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   5000000 | PA      | $5041016.25   | 1.65%             | 2030-03-01      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ3471                                                         | CUSIP: 3140NX2D4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $1013167.44   | 0.33%             | 2032-04-01      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CA1158                                                         | CUSIP: 3140Q8JC0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    241884 | PA      | $221186.51    | 0.07%             | 2048-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CA1985                                                         | CUSIP: 3140Q9F32<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    228363 | PA      | $215580.46    | 0.07%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CA4927                                                         | CUSIP: 3140QCPM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    314574 | PA      | $276664.07    | 0.09%             | 2050-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CA7479                                                         | CUSIP: 3140QFJZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    518578 | PA      | $412570.96    | 0.14%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CA7480                                                         | CUSIP: 3140QFJ26<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1030100 | PA      | $827820.53    | 0.27%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CA8444                                                         | CUSIP: 3140QGL21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    792359 | PA      | $636777.69    | 0.21%             | 2050-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB0268                                                         | CUSIP: 3140QKJN9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   3028282 | PA      | $2433618.20   | 0.80%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB1441                                                         | CUSIP: 3140QLS72<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   2698627 | PA      | $2141992.12   | 0.70%             | 2051-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB2317                                                         | CUSIP: 3140QMSF2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1320471 | PA      | $1050243.78   | 0.34%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB2738                                                         | CUSIP: 3140QNBG6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   4763171 | PA      | $3966781.60   | 1.30%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB2739                                                         | CUSIP: 3140QNBH4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    602238 | PA      | $505934.67    | 0.17%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB2830                                                         | CUSIP: 3140QNEC2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    948337 | PA      | $793733.65    | 0.26%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB7021                                                         | CUSIP: 3140QSYT2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1261034 | PA      | $1268345.86   | 0.42%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB7245                                                         | CUSIP: 3140QTBP3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    758246 | PA      | $765455.43    | 0.25%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB7935                                                         | CUSIP: 3140QTY94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1016398 | PA      | $1043522.93   | 0.34%             | 2054-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB8085                                                         | CUSIP: 3140QT6X2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1027678 | PA      | $1054367.17   | 0.35%             | 2054-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB8111                                                         | CUSIP: 3140QUAM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1299705 | PA      | $1309764.79   | 0.43%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB9112                                                         | CUSIP: 3140QVDS0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1055169 | PA      | $1083390.62   | 0.35%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE-ACES FNA 2023-M5 A2                                                    | CUSIP: 3136BQCP2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   5000000 | PA      | $4935335.00   | 1.62%             | 2033-07-25      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE-ACES FNA 2024-M1 A2                                                    | CUSIP: 3136BQL23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $994756.10    | 0.33%             | 2034-01-25      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP REV                               | FLORIDA ST HSG FIN CORP REVENU FLORIDA HOUSING FINANCE CORP                       | CUSIP: 34074MJ85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $250656.46    | 0.08%             | 2030-01-01      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP REV                               | FLORIDA ST HSG FIN CORP REVENU FLORIDA HOUSING FINANCE CORP                       | CUSIP: 34074MJ69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $96815.04     | 0.03%             | 2029-01-01      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP REV                               | FLORIDA ST HSG FIN CORP REVENU FLORIDA HOUSING FINANCE CORP                       | CUSIP: 34074MJ93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $97372.71     | 0.03%             | 2030-07-01      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP REV                               | FLORIDA ST HSG FIN CORP REVENU FLORIDA HOUSING FINANCE CORP                       | CUSIP: 34074MJ44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $571041.38    | 0.19%             | 2028-01-01      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC GOLD POOL FG Q41874                                                   | CUSIP: 3132WFCL1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    938828 | PA      | $835486.19    | 0.27%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTICLASS CERTIFICATES SERIES 2015-P0 FHMR 2022-P013 A2              | CUSIP: 3137H74G5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2000000 | PA      | $1791101.00   | 0.59%             | 2032-02-25      | Floating      | 2.85%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTICLASS CERTIFICATES SERIES 2021-P0 FHMR 2021-P009 A1              | CUSIP: 3137H13U8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    281940 | PA      | $261384.09    | 0.09%             | 2031-01-25      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTICLASS CERTIFICATES SERIES 2021-P0 FHMR 2021-P009 A2              | CUSIP: 3137H13V6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $887986.60    | 0.29%             | 2031-01-25      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTICLASS CERTIFICATES SERIES 2024-P0 FHMR 2024-P016 A2              | CUSIP: 3137HDJU5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $1005916.50   | 0.33%             | 2033-09-25      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FREDDIE MAC MULTIFAMILY ML CERTIFICATES FRETE 2025-ML29 AUS                       | CUSIP: 3137HLHX3<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   4997440 | PA      | $4997440.10   | 1.64%             | 2043-01-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K-1514 A2                 | CUSIP: 3137FQJZ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2300000 | PA      | $1995703.79   | 0.65%             | 2034-10-25      | Fixed         | 2.86%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K-158 A2                  | CUSIP: 3137HAGS9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   5200000 | PA      | $5054897.64   | 1.66%             | 2033-07-25      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K-169 A2                  | CUSIP: 3137HK2C7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   4000000 | PA      | $4023201.60   | 1.32%             | 2034-12-25      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K-170 A2                  | CUSIP: 3137HLJ52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   9000000 | PA      | $9280494.00   | 3.04%             | 2035-02-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K088 A2                   | CUSIP: 3137FKZZ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $987449.00    | 0.32%             | 2029-01-25      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K092 A1                   | CUSIP: 3137FLYU2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2151168 | PA      | $2114016.72   | 0.69%             | 2028-10-25      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K123 A2                   | CUSIP: 3137F8ZV8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1500000 | PA      | $1314108.00   | 0.43%             | 2030-12-25      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K135 AM                   | CUSIP: 3137H4R44<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   3500000 | PA      | $3031932.40   | 0.99%             | 2031-10-25      | Floating      | 1.91%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K141 A2                   | CUSIP: 3137H6ZM0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   4800000 | PA      | $4233969.12   | 1.39%             | 2032-02-25      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K145 A1                   | CUSIP: 3137H7PH0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1737707 | PA      | $1634423.68   | 0.54%             | 2031-11-25      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K526 AS                   | CUSIP: 3137HF5C5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2999102 | PA      | $3001280.05   | 0.98%             | 2029-06-25      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K540 AS                   | CUSIP: 3137HLJB9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    999814 | PA      | $1000200.70   | 0.33%             | 2029-11-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K542 AS                   | CUSIP: 3137HLY55<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2000000 | PA      | $2000618.60   | 0.66%             | 2030-01-25      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K759 A2                   | CUSIP: 3137HJZS9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |  10000000 | PA      | $10252361.00  | 3.36%             | 2032-01-25      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K760 A2                   | CUSIP: 3137HKDD3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   3000000 | PA      | $3033852.30   | 0.99%             | 2032-01-25      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KF136 AS                  | CUSIP: 3137H7M26<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    497113 | PA      | $494470.80    | 0.16%             | 2032-04-25      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KF141 AS                  | CUSIP: 3137H8U66<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   4528089 | PA      | $4555963.50   | 1.49%             | 2032-07-25      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KF164 AS                  | CUSIP: 3137HHUV1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    972991 | PA      | $972989.17    | 0.32%             | 2034-10-25      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KG06 A2                   | CUSIP: 3137H4C65<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1200000 | PA      | $1038078.36   | 0.34%             | 2031-10-25      | Fixed         | 1.78%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KJ53 AS                   | CUSIP: 3137HKXM1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2998445 | PA      | $3011182.41   | 0.99%             | 2034-10-25      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KSG1 A2                   | CUSIP: 3137FXLX4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   3870000 | PA      | $3397547.30   | 1.11%             | 2030-09-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KSG2 A2                   | CUSIP: 3137H4S84<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $875877.70    | 0.29%             | 2031-11-25      | Floating      | 2.09%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KSG3 A2                   | CUSIP: 3137H7MF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2000000 | PA      | $1793506.60   | 0.59%             | 2032-05-25      | Floating      | 2.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS Q027 A1                   | CUSIP: 3137HF3E3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2000000 | PA      | $2020864.40   | 0.66%             | 2031-08-25      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS Q030 A                    | CUSIP: 3137HHJQ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   5174266 | PA      | $5164636.65   | 1.69%             | 2044-01-25      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS Q032 A                    | CUSIP: 3137HKQ23<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1989505 | PA      | $2012062.41   | 0.66%             | 2054-11-25      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY VARIABLE RATE CERTIFICATE FMMV M071 A                     | CUSIP: 3137HDVJ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   3956100 | PA      | $3926422.60   | 1.29%             | 2040-08-15      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RA1853                                                        | CUSIP: 3133KHBW5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    733346 | PA      | $643816.60    | 0.21%             | 2049-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RA5346                                                        | CUSIP: 3133KL5F0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    920091 | PA      | $739399.13    | 0.24%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ0241                                                        | CUSIP: 3142GQHT2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    563478 | PA      | $580493.11    | 0.19%             | 2053-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ2692                                                        | CUSIP: 3142GS7E2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    657594 | PA      | $673808.17    | 0.22%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WA0500                                                        | CUSIP: 3132WRRK1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2242777 | PA      | $1917578.48   | 0.63%             | 2047-03-01      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WA2241                                                        | CUSIP: 3132WVWB6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   5446118 | PA      | $5329318.92   | 1.75%             | 2040-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WA3194                                                        | CUSIP: 3132WWXY3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1451539 | PA      | $1340599.61   | 0.44%             | 2037-07-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WA3283                                                        | CUSIP: 3132WW2R2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2477344 | PA      | $2281005.15   | 0.75%             | 2039-06-01      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WA4823                                                        | CUSIP: 3142ACD55<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   5593903 | PA      | $4207948.14   | 1.38%             | 2050-02-01      | Fixed         | 3.08%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WA4839                                                        | CUSIP: 3142ACEM7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1630871 | PA      | $1359768.70   | 0.45%             | 2054-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WA4844                                                        | CUSIP: 3142ACES4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2987573 | PA      | $2558921.33   | 0.84%             | 2042-10-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WN0179                                                        | CUSIP: 3132XEFV8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   4000000 | PA      | $3744943.64   | 1.23%             | 2045-01-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WN2253                                                        | CUSIP: 3132XGQF6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $964583.56    | 0.32%             | 2032-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WN5065                                                        | CUSIP: 3132XKTX5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2000000 | PA      | $1990678.76   | 0.65%             | 2029-08-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WN5213                                                        | CUSIP: 3132XKYK7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $1006789.73   | 0.33%             | 2030-01-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WN5231                                                        | CUSIP: 3132XKY50<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   3000000 | PA      | $2991948.57   | 0.98%             | 2030-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WS4017                                                        | CUSIP: 3142GGPB4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1477886 | PA      | $1445797.50   | 0.47%             | 2040-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WS4030                                                        | CUSIP: 3142GGPQ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1137297 | PA      | $1094355.80   | 0.36%             | 2041-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREMF 2025-KF167 MORTGAGE TRUST FHMS KF167 AS                                     | CUSIP: 3137HLXY3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          |  | US        |   3000000 | PA      | $2998054.20   | 0.98%             | 2035-05-25      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2018-SB57 MORTGAGE TRUST FRESB 2018-SB57 A10H                               | CUSIP: 30308LAE9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1165297 | PA      | $1130949.89   | 0.37%             | 2038-08-25      | Floating      | 3.87%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2019-SB59 MORTGAGE TRUST FRESB 2019-SB59 A7F                                | CUSIP: 302970AE8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    160086 | PA      | $158796.06    | 0.05%             | 2025-12-25      | Floating      | 3.19%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2019-SB68 MORTGAGE TRUST FRESB 2019-SB68 A10F                               | CUSIP: 30298WAH0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1759325 | PA      | $1629400.98   | 0.53%             | 2029-09-25      | Floating      | 2.42%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2020-SB71 MORTGAGE TRUST FRESB 2020-SB71 A10F                               | CUSIP: 30313KAD6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1180393 | PA      | $1085157.05   | 0.36%             | 2029-12-25      | Floating      | 2.21%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2020-SB71 MORTGAGE TRUST FRESB 2020-SB71 A10H                               | CUSIP: 30313KAE4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    773939 | PA      | $697952.63    | 0.23%             | 2039-12-25      | Floating      | 2.25%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2020-SB71 MORTGAGE TRUST FRESB 2020-SB71 A5H                                | CUSIP: 30313KAA2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    930705 | PA      | $922515.33    | 0.30%             | 2039-11-25      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2020-SB76 MORTGAGE TRUST FRESB 2020-SB76 A5H                                | CUSIP: 30315EAB2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1131903 | PA      | $1123320.72   | 0.37%             | 2040-04-25      | Floating      | 3.63%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2020-SB77 MORTGAGE TRUST FRESB 2020-SB77 A7H                                | CUSIP: 30316AAG8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1466098 | PA      | $1373737.86   | 0.45%             | 2040-06-25      | Floating      | 1.12%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2020-SB80 MORTGAGE TRUST FRESB 2020-SB80 A5H                                | CUSIP: 30316XAG8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1736348 | PA      | $1723590.31   | 0.56%             | 2040-09-25      | Floating      | 0.83%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2021-SB84 MORTGAGE TRUST FRESB 2021-SB84 A10F                               | CUSIP: 30320WAP4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1626220 | PA      | $1420048.23   | 0.47%             | 2031-01-25      | Floating      | 1.49%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2021-SB93 MORTGAGE TRUST FRESB 2021-SB93 A5H                                | CUSIP: 30325WAA2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    894040 | PA      | $861706.72    | 0.28%             | 2041-09-25      | Floating      | 1.50%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2021-SB93 MORTGAGE TRUST FRESB 2021-SB93 A7F                                | CUSIP: 30325WAB0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    819923 | PA      | $757753.17    | 0.25%             | 2028-10-25      | Floating      | 1.60%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2023-SB111 MORTGAGE TRUST FRESB 2023-SB111 A7F                              | CUSIP: 30334CAB3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   2000000 | PA      | $1982136.80   | 0.65%             | 2030-09-25      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2024-SB116 MORTGAGE TRUST FRESB 2024-SB116 A5F                              | CUSIP: 35802BAE1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1598586 | PA      | $1614002.96   | 0.53%             | 2029-09-25      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2024-SB116 MORTGAGE TRUST FRESB 2024-SB116 A7F                              | CUSIP: 35802BAF8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1858634 | PA      | $1871652.74   | 0.61%             | 2031-09-25      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2025-SB120 MORTGAGE TRUST FRESB 2025-SB120 A5F                              | CUSIP: 357913AA0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   2999016 | PA      | $3013819.20   | 0.99%             | 2030-01-25      | Floating      | 4.42%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association 2             | GINNIE MAE II POOL G2 AU1762                                                      | CUSIP: 36194N5X3<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    204504 | PA      | $187171.46    | 0.06%             | 2046-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association 2             | GINNIE MAE II POOL G2 AU1835                                                      | CUSIP: 36194PBC7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    313812 | PA      | $276172.69    | 0.09%             | 2046-08-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2017-135 AG                          | CUSIP: 38379R3Y7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    502490 | PA      | $432870.29    | 0.14%             | 2058-08-16      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2017-74 AD                           | CUSIP: 38379RYW7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    391231 | PA      | $331722.73    | 0.11%             | 2058-09-16      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2021-183 AC                          | CUSIP: 38381D7X2<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1389113 | PA      | $1062959.61   | 0.35%             | 2063-01-16      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-145 AH                          | CUSIP: 38381JRX7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   3838675 | PA      | $3141914.90   | 1.03%             | 2065-09-16      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-16 AC                           | CUSIP: 38381HP70<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1930879 | PA      | $1872929.65   | 0.61%             | 2063-07-16      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-162 AC                          | CUSIP: 38381JXG7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2382123 | PA      | $2473758.78   | 0.81%             | 2064-03-16      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-191 AD                          | CUSIP: 38381JK55<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2359345 | PA      | $2244432.00   | 0.74%             | 2064-05-16      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-44 AB                           | CUSIP: 38381H3Y5<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2876836 | PA      | $2727514.13   | 0.89%             | 2056-08-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-74 AD                           | CUSIP: 38381JEJ2<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1668090 | PA      | $1592259.56   | 0.52%             | 2055-10-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-92 AC                           | CUSIP: 38381H7U9<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   3853247 | PA      | $3631521.45   | 1.19%             | 2062-10-16      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-12 AC                           | CUSIP: 38381JX36<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   3032638 | PA      | $2923126.98   | 0.96%             | 2065-05-16      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-12 AV                           | CUSIP: 38381JY27<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1828620 | PA      | $1768241.04   | 0.58%             | 2036-11-16      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-122 AG                          | CUSIP: 38381LNR9<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1982823 | PA      | $1936217.56   | 0.63%             | 2065-05-16      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-153 AB                          | CUSIP: 38381LTG7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2484524 | PA      | $2446856.63   | 0.80%             | 2065-03-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-158 AC                          | CUSIP: 38381LVF6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1975975 | PA      | $1892903.59   | 0.62%             | 2057-09-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-166 AB                          | CUSIP: 38381LB76<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2480119 | PA      | $2434833.34   | 0.80%             | 2058-04-16      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-193 AT                          | CUSIP: 38381LF80<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   3720961 | PA      | $3688603.39   | 1.21%             | 2062-04-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-54 AC                           | CUSIP: 38381LAZ5<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1780121 | PA      | $1738468.24   | 0.57%             | 2065-02-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-72 AG                           | CUSIP: 38381LEH1<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    989328 | PA      | $959808.62    | 0.31%             | 2065-05-16      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-109 LB                          | CUSIP: 38381MTM2<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   3000000 | PA      | $2844726.57   | 0.93%             | 2066-08-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-16 AC                           | CUSIP: 38381LW57<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2787459 | PA      | $2766762.29   | 0.91%             | 2065-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-16 AV                           | CUSIP: 38381LY55<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   3415903 | PA      | $3420162.43   | 1.12%             | 2037-10-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-17 AB                           | CUSIP: 38381L3K6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1991209 | PA      | $1966254.04   | 0.64%             | 2058-05-16      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-18 AD                           | CUSIP: 38381L3S9<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    994604 | PA      | $972995.27    | 0.32%             | 2057-01-16      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-36 AB                           | CUSIP: 38381L5G3<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   5578591 | PA      | $5565855.20   | 1.82%             | 2056-05-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-40 EM                           | CUSIP: 38381MCT5<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1096878 | PA      | $1086434.40   | 0.36%             | 2057-08-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-54 V                            | CUSIP: 38381MAK6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1777903 | PA      | $1760390.06   | 0.58%             | 2040-06-16      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV       | MARYLAND CMNTY DEV ADMIN HSG & MARYLAND DEPARTMENT OF HOUSING & COMMUNITY DEVELOP | CUSIP: 57419UKK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200175.56    | 0.07%             | 2026-09-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV       | MARYLAND CMNTY DEV ADMIN HSG & MARYLAND DEPARTMENT OF HOUSING & COMMUNITY DEVELOP | CUSIP: 57419UKN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $351112.72    | 0.12%             | 2028-03-01      | Fixed         | 4.36%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV       | MARYLAND CMNTY DEV ADMIN HSG & MARYLAND DEPARTMENT OF HOUSING & COMMUNITY DEVELOP | CUSIP: 57419UKL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300622.95    | 0.10%             | 2027-03-01      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV       | MARYLAND CMNTY DEV ADMIN HSG & MARYLAND DEPARTMENT OF HOUSING & COMMUNITY DEVELOP | CUSIP: 57419UKM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250849.48    | 0.08%             | 2027-09-01      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV       | MARYLAND CMNTY DEV ADMIN HSG & MARYLAND DEPARTMENT OF HOUSING & COMMUNITY DEVELOP | CUSIP: 57419UKJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200003.62    | 0.07%             | 2026-03-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV       | MARYLAND CMNTY DEV ADMIN HSG & MARYLAND DEPARTMENT OF HOUSING & COMMUNITY DEVELOP | CUSIP: 57419ULL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3116143.20   | 1.02%             | 2055-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY HSG REV                   | MASSACHUSETTS ST HSG FIN AGY H MASSACHUSETTS HOUSING FINANCE AGENCY               | CUSIP: 57587GCU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $69120.93     | 0.02%             | 2025-12-01      | Fixed         | 1.33%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVT FIN AUTH SINGLE FAMILY HSG REV           | NEBRASKA ST INVESTMENT FIN AUT NEBRASKA INVESTMENT FINANCE AUTHORITY              | CUSIP: 63968M3H0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102701.51    | 0.03%             | 2030-09-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVT FIN AUTH SINGLE FAMILY HSG REV           | NEBRASKA ST INVESTMENT FIN AUT NEBRASKA INVESTMENT FINANCE AUTHORITY              | CUSIP: 63968M3F4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101996.92    | 0.03%             | 2029-09-01      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVT FIN AUTH SINGLE FAMILY HSG REV           | NEBRASKA ST INVESTMENT FIN AUT NEBRASKA INVESTMENT FINANCE AUTHORITY              | CUSIP: 63968M3G2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102597.79    | 0.03%             | 2030-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVT FIN AUTH SINGLE FAMILY HSG REV           | NEBRASKA ST INVESTMENT FIN AUT NEBRASKA INVESTMENT FINANCE AUTHORITY              | CUSIP: 63968M3E7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101770.86    | 0.03%             | 2029-03-01      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTG FIN AGY MULTI-FAMILY REV       | NEW JERSEY ST HSG & MTGE FIN A NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY       | CUSIP: 6461082U3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $458919.78    | 0.15%             | 2030-11-01      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTG FIN AGY MULTI-FAMILY REV       | NEW JERSEY ST HSG & MTGE FIN A NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY       | CUSIP: 6461082V1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $329835.49    | 0.11%             | 2031-05-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTG FIN AGY MULTI-FAMILY REV       | NEW JERSEY ST HSG & MTGE FIN A NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY       | CUSIP: 6461082T6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $448290.03    | 0.15%             | 2030-05-01      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| N/A                                                    | NEW YORK CITY HOUSING DEVELOPMENT 5.34% 02/01/2033                                | CUSIP: BCCJ08DC1<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    250000 | PA      | $250000.00    | 0.08%             | 2033-02-01      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| N/A                                                    | NEW YORK CITY HOUSING DEVELOPMENT 5.36% 08/01/2033                                | CUSIP: BCCJ08DC1<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    330000 | PA      | $330000.00    | 0.11%             | 2033-08-01      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP REV                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64966WKR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253672.20    | 0.08%             | 2033-02-01      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP REV                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64966WHU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257596.50    | 0.08%             | 2031-08-01      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP REV                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64966WHS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259126.05    | 0.08%             | 2030-08-01      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP MULTIFAMILY HSG REV     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64972EC80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $370239.35    | 0.12%             | 2030-11-01      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP REV                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64966WHV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $256926.48    | 0.08%             | 2032-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP MULTIFAMILY HSG REV     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64972EC72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1428976.09   | 0.47%             | 2030-05-01      | Fixed         | 2.24%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP REV                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64966WKS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $333393.89    | 0.11%             | 2033-08-01      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP REV                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64966WHA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $987408.10    | 0.32%             | 2027-01-01      | Fixed         | 3.43%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP REV                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64966WHT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257703.20    | 0.08%             | 2031-02-01      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| N/A                                                    | STRU CITI 6260 LB 5.000% 03/30/2062                                               | CUSIP: BCCJ08DC1<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   3000000 | PA      | $2844726.56   | 0.93%             | 2062-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STWD MORTGAGE TRUST                                    | STWD 2021-LIH MORTGAGE TRUST STWD 2021-LIH A                                      | CUSIP: 78486EAA6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   3000000 | PA      | $2988750.00   | 0.98%             | 2036-11-15      | Floating      | 5.28%                 | Yes           |                  2 | On Loan: No      |
| SMALL BUSINESS ADMINISTRATION GTD                      | UNITED STATES SMALL BUSINESS ADMINISTRATION SBAP 2024-25C 1                       | CUSIP: 83162CW58<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     48629 | PA      | $48968.30     | 0.02%             | 2049-03-01      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| United States of America                               | US 10YR ULTRA FUT SEP25 FINANCIAL COMMODITY FUTURE.                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -168 | NC      | $-19196625.00 | -6.29%            |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                               | US LONG BOND(CBT) SEP25 FINANCIAL COMMODITY FUTURE.                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -80 | NC      | $-9237500.00  | -3.03%            |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                               | US TREASURY N/B 4.000000% 05/31/2030                                              | CUSIP: 91282CNG2<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  10600000 | PA      | $10701031.25  | 3.51%             | 2030-05-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                               | US TREASURY N/B 4.625000% 02/15/2055                                              | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    430000 | PA      | $419250.00    | 0.14%             | 2055-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                               | VIRGINIA ST HSG DEV AUTH VIRGINIA HOUSING DEVELOPMENT AUTHORITY                   | CUSIP: 92812WBA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $436088.80    | 0.14%             | 2031-11-01      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                               | VIRGINIA ST HSG DEV AUTH VIRGINIA HOUSING DEVELOPMENT AUTHORITY                   | CUSIP: 92812WBB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $427510.95    | 0.14%             | 2032-11-01      | Fixed         | 2.46%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                               | VIRGINIA ST HSG DEV AUTH VIRGINIA HOUSING DEVELOPMENT AUTHORITY                   | CUSIP: 92812WAY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $457521.00    | 0.15%             | 2029-11-01      | Fixed         | 2.11%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** THE COMMUNITY DEVELOPMENT FUND

**Signature:** Ken Thomas

**Name of Signer:** Ken Thomas

**Title:** President